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June 20, 2022

Marathon Gold Secures U$81 Million of Equipment Financing for Project Development and Mining Operations at the Valentine Gold Project

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce the execution of a credit-approved commitment letter with Caterpillar Financial Services Limited (“Cat Financial”) for equipment lease financing related to the development and operation of the Valentine Gold Project located in central Newfoundland (the “Project”). Matt Manson,…

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce the execution of a credit-approved commitment letter with Caterpillar Financial Services Limited (“Cat Financial”) for equipment lease financing related to the development and operation of the Valentine Gold Project located in central Newfoundland (the “Project”).

Matt Manson, President and CEO of Marathon, commented: “We are very happy to be announcing today our equipment leasing commitment with Cat Financial, another significant milestone in our project financing arrangements for the Valentine Gold Project. This agreement will provide financing for the Project’s mobile mining equipment through project development and into the first several years of mining operations at an attractive overall cost of capital for Marathon.”

The commitment letter announced today with Cat Financial contemplates US$81 million of equipment leasing for Caterpillar trucks, excavators, graders, loaders, and dozers, for the purpose of loading, hauling, road maintenance, waste dump maintenance and primary pit support for the Project. The Cat Financial lease will be available to the Company upon release of the Project from its federal Environment Assessment process, review of the Project’s updated Feasibility Study, satisfaction of a cost to complete certification, and other customary conditions.

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of five mineralized deposits along a 20-kilometre system. An April 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return. The Project has estimated Proven Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.92 Moz (32.59 Mt at 1.83 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.22 Moz (24.07 Mt at 1.57 g/t). Additional Inferred Mineral Resources are 1.64 Moz (29.59 Mt at 1.72 g/t Au). Please see Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com for further details and assumptions relating to the Valentine Gold Project.

For more information, please contact:

 

Amanda Mallough
Senior Associate, Investor Relations
Tel: 416 855-8202
[email protected]
Matt Manson
President & CEO
[email protected]
Julie Robertson
CFO
[email protected]

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release, constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. More particularly and without restriction, this news release contains forward-looking statements and information about the FS and the results therefrom (including IRR, NPV5%, Capex, FCF, AISC and other financial metrics), the realization of mineral reserve and mineral resource estimates, the future financial or operating performance of the Company and the Project, capital and operating costs, the ability of the Company to obtain all government approvals, permits and third-party consents in connection with the Company’s exploration, development and operating activities, the potential impact of COVID-19 on the Company, the Company’s ability to successfully advance the Project and anticipated benefits thereof, economic analyses for the Valentine Gold Project, processing and recovery estimates and strategies, future exploration and mine plans, objectives and expectations and corporate planning of Marathon, future environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements concerning the interpretation of exploration results and the impact on the Project’s mineral resource estimate, the Company has provided such statements in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; uncertainty as to estimation of mineral resources; inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources); the potential for delays or changes in plans in exploration or development projects or capital expenditures, or the completion of feasibility studies due to changes in logistical, technical or other factors; the possibility that future exploration, development, construction or mining results will not be consistent with the Company’s expectations; risks related to the ability of the current exploration program to identify and expand mineral resources; risks relating to possible variations in grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; operational mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity and power prices, foreign exchange rate fluctuations and changes in interest rates; the uncertainty of profitability based upon the cyclical nature of the mining industry; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or other stakeholder approvals or in the completion of development or construction activities; risks related to environmental regulation and liability, government regulation and permitting; risks relating to the Company’s ability to attract and retain skilled staff; risks relating to the timing of the receipt of regulatory and governmental approvals for continued operations and future development projects; political and regulatory risks associated with mining and exploration; risks relating to the potential impacts of the COVID-19 pandemic on the Company and the mining industry; changes in general economic conditions or conditions in the financial markets; and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities, including the Annual Information Form for the year ended December 31, 2021.

You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities available at www.sedar.com. Other than as specifically required by law, Marathon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

This press release was originally posted on the website of GlobeNewswire.

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June 20, 2022

Marathon Gold Receives Mining Leases for the Valentine Gold Project

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce that it has received Mining Leases for the Valentine Gold Project in central Newfoundland (the “Project”). The Mining Leases cover the development of the Marathon and Leprechaun Deposits and have a term of 20 years. They have…

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce that it has received Mining Leases for the Valentine Gold Project in central Newfoundland (the “Project”). The Mining Leases cover the development of the Marathon and Leprechaun Deposits and have a term of 20 years. They have been issued by the Newfoundland and Labrador (“NL”) Department of Industry, Energy and Technology pursuant to the terms of the NL Mineral Act (1990).

Receipt of the Mining Leases is a key milestone in the permitting of mining operations at the Project. It follows the completion of the provincial Environmental Assessment (“EA”) process in March of this year and the approval of the Project to proceed to development by the NL Cabinet.

A federal EA for the Project remains ongoing and is approaching completion. On May 25, 2022, a draft Environmental Assessment Report for the Project was filed by the Impact Assessment Agency of Canada, to be available for 30 days for public review and comment. At the conclusion of this period, the Minister of Environment and Climate Change Canada will be in a position to make a Decision Statement on the acceptability of the Project for development. A positive Decision Statement will mark the completion of the federal EA.

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of five mineralized deposits along a 20-kilometre system. An April 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return. The Project has estimated Proven Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.92 Moz (32.59 Mt at 1.83 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.22 Moz (24.07 Mt at 1.57 g/t). Additional Inferred Mineral Resources are 1.64 Moz (29.59 Mt at 1.72 g/t Au). Please see Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com for further details and assumptions relating to the Valentine Gold Project.

For more information, please contact:

 

Amanda Mallough
Senior Associate, Investor Relations
Tel: 416 855-8202
[email protected]
Matt Manson
President & CEO
[email protected]
Julie Robertson
CFO
[email protected]

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release, constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. More particularly and without restriction, this news release contains forward-looking statements and information about the FS and the results therefrom (including IRR, NPV5%, Capex, FCF, AISC and other financial metrics), the realization of mineral reserve and mineral resource estimates, the future financial or operating performance of the Company and the Project, capital and operating costs, the ability of the Company to obtain all government approvals, permits and third-party consents in connection with the Company’s exploration, development and operating activities, the potential impact of COVID-19 on the Company, the Company’s ability to successfully advance the Project and anticipated benefits thereof, economic analyses for the Valentine Gold Project, processing and recovery estimates and strategies, future exploration and mine plans, objectives and expectations and corporate planning of Marathon, future environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements concerning the interpretation of exploration results and the impact on the Project’s mineral resource estimate, the Company has provided such statements in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; uncertainty as to estimation of mineral resources; inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources); the potential for delays or changes in plans in exploration or development projects or capital expenditures, or the completion of feasibility studies due to changes in logistical, technical or other factors; the possibility that future exploration, development, construction or mining results will not be consistent with the Company’s expectations; risks related to the ability of the current exploration program to identify and expand mineral resources; risks relating to possible variations in grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; operational mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity and power prices, foreign exchange rate fluctuations and changes in interest rates; the uncertainty of profitability based upon the cyclical nature of the mining industry; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or other stakeholder approvals or in the completion of development or construction activities; risks related to environmental regulation and liability, government regulation and permitting; risks relating to the Company’s ability to attract and retain skilled staff; risks relating to the timing of the receipt of regulatory and governmental approvals for continued operations and future development projects; political and regulatory risks associated with mining and exploration; risks relating to the potential impacts of the COVID-19 pandemic on the Company and the mining industry; changes in general economic conditions or conditions in the financial markets; and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities, including the Annual Information Form for the year ended December 31, 2021.

You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities available at www.sedar.com. Other than as specifically required by law, Marathon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

This press release was originally posted on the website of GlobeNewswire.

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June 13, 2022

Síldarvinnslan hf. acquires a 34.2% share in the Norwegian salmon farming company Arctic Fish Holding AS

10/6/2022 | News Síldarvinnslan hf. has entered into an agreement with Bremesco Holding Limited together with a group of shareholders, who own a total of 10,899,684 shares, or 34.2%, in Arctic Fish Holding AS for the purchase of their shares in the company. The purchase price is NOK 1,089,968,400 and will be paid in cash, which will be partly…

10/6/2022 | News

Síldarvinnslan hf. has entered into an agreement with Bremesco Holding Limited together with a group of shareholders, who own a total of 10,899,684 shares, or 34.2%, in Arctic Fish Holding AS for the purchase of their shares in the company. The purchase price is NOK 1,089,968,400 and will be paid in cash, which will be partly financed by raising loans.

Arctic Fish Holding AS is listed on the Euronext Growth Market in Oslo and the company owns 100% of the shares in Arctic Fish ehf. which is one of the leading salmon farming companies in Iceland and operates fish farms in the Westfjords, where the company has a license for over 27 thousand tonnes for aquaculture.

Gunnþór Ingvason, CEO of Síldarvinnslan, says the following about the acquisition:

“Salmon farming is a fast-growing industry that we have been following in recent years. Increased resources and knowledge have entered the industry in recent years and we believe there are great opportunities.

We buy just over a third of Arctic Fish Holding AS, which is majority owned by a Norwegian aquaculture company with extensive knowledge and experience in the industry. We are happy to have the opportunity to work with them in strengthening the company.

The company has ambitious plans and has been in a major investment and development phase in recent years. We see opportunities in increased cooperation between aquaculture companies in the area. “

Press release obtained from Síldarvinnslan hf and translated into English

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June 09, 2022

Almadex Announces Acquisition of 100% of Logan Zn/Ag Project in Yukon Territory

VANCOUVER, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce it has acquired 100% ownership of the Logan Zinc, Silver project (“Logan”, or the “Project”) located in the Yukon, Canada. As fully outlined below, a Company predecessor discovered the Logan Project in 1979. The project…

VANCOUVER, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce it has acquired 100% ownership of the Logan Zinc, Silver project (“Logan”, or the “Project”) located in the Yukon, Canada. As fully outlined below, a Company predecessor discovered the Logan Project in 1979. The project was then joint ventured, leaving Almadex’s predecessor a retained 40% interest carried to “Positive Production Decision”. The majority interest subsequently changed ownership, but the property was never the focus for the various operators. Almadex has been able to acquire 100% of the Logan project legally through a bankruptcy receivership, finally allowing for the project to be advanced. Key take aways for the Logan Project include:

  • Located 38 km north of the Alaska Highway, accessed historically by 52 km long winter road;
  • Historic inferred resource prepared in 2012 for the Logan Main Zone reporting 42.7 Mt with average grades of 2.76% zinc and 12.89 ppm silver at a 1% zinc cut-off grade (see below for details and disclosure);
  • Deposit remains open along strike and down dip.

Duane Poliquin, Chairman of Almadex, stated, “We have long been pushing to advance the Logan project but have been constrained by the joint venture agreement and the unresponsive nature of the prior majority owners. With this transaction we are now finally able to start the work necessary to surface the tremendous potential which exists at this project. We look forward to meeting and consulting with all rightsholders including the Ross River Dena Council and Liard First Nation to discuss exploration and development approaches that can meet the expectations of local people, the Indigenous owners, the Yukon government and other Company stakeholders.”

Logan Project Details and Historic Mineral Resource Estimate

The Logan Project is located 108 km northwest of Watson Lake in south central Yukon. The Project consists of 156 contiguous quartz mining claims located in the Watson Lake Mining District, covering over 3,200 hectares. The Project is located on the traditional territory of the Ross River Dena Council and Liard First Nation, 38 km north of the Alaska Highway. Access for past major work programs was facilitated with a 52 km long winter road from the Alaska Highway. In 1987, a 700 m long by 20 m wide gravel airstrip was established on the Property; future use of the airstrip would require surface re-levelling, but small, short runway aircraft may be able to land at this time. The winter road permit was not renewed past 2009 and re-opening the road would require further permitting. Currently, the Project can be accessed via helicopter.

According to historic reports, Logan contains a zinc-silver deposit consisting of fracture and vein hosted zinc-silver mineralization within a granitic intrusion. The Main Zone occurs along an 8,000m long NE-trending fault-related structure. The Main Zone is tabular, dips 70 degrees to the NW, extends for 1,100m along strike, varies from 50m to 150m in width, and has been traced to depths of 275m and remains open. The mineralization is up to 90 metres thick in relatively gentle terrain and minimal overburden, making it attractive for open pit mining. In March, 2004, in its public filings prior to bankruptcy, Yukon Zinc Corp. noted that exploration defined low grade zinc mineralization in the East and West Zones of the deposit that require more drilling to better define resources, that historic drilling in the deeper parts of the Main Zone includes important intersections, such as 9 metres grading 10.07% zinc and 65.2 g/t silver, that could be amenable to underground mining, and that the deposit remains open at depth and along strike.

Logan has been explored by means of sequential programs of mapping, soil sampling, geophysics, and diamond drilling since the 1980s. The work conducted by or on behalf of Cordilleran Engineering, Getty Resources Ltd., Fairfield Minerals, Total Energold Minerals Inc., Expatriate Resources, and Yukon Zinc Corp. (Yukon Zinc) is briefly summarised as follows:

1979: Staking of Logan 1 to 36 quartz mining claims to cover new zinc-silver-tin-copper gossan. Geological mapping, soil and stream sediment geochemistry, hand trenching, and test IP, EM and magnetometer geophysical surveys.

1980-1985: Additional soil geochemistry, claim staking, hand trenching, and geophysical surveys were completed.

1986-1989: Exploration drilling of 103 holes totalling 16,438 metres. Fifteen trenches totalling 2,412 metres and ongoing soil geochemistry and geophysical surveys. Metallurgical testwork at Lakefield Research Laboratories under supervision of Strathcona Mineral Services Limited. Flotation of both high- and low-grade zinc samples indicated that recoveries of 93-95% zinc and 85-90% silver could be projected to a zinc concentrate.

2003: Additional staking and completion of a baseline environmental survey was conducted in and around the Logan property.

2006: Yukon Zinc Corp. retained Bell Geospace to conduct an Air Full Tensor Gravity (Air-FTG) survey.

2012: Wardrop, a Tetra Tech Company (Tetra Tech) was retained by Yukon Zinc to prepare a Technical Report, including an historical mineral resource estimate, on the Logan Property in 2012. The 2012 Tetra Tech Technical Report is treated as a historical mineral resource. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource and Almadex is not treating this historical estimate as current mineral resources.

The 2012 Logan historical mineral resource estimate is considered to be relevant and reliable. The Tetra Tech historical estimate for the Logan Main Zone deposit, used sample assay data from 56 drillholes which intersect the deposit containing 4,314 zinc and silver assays. Samples were composited to 2 m lengths and no assay values were capped. The Logan Main Zone deposit was modeled as a single mineralized geological wireframe bounded by two faults (the hanging wall and footwall faults) striking southwest and dipping moderately northwest. Where the position of the upper and lower faults bounds is uncertain a grade cut-off of 0.5% zinc was used to constrain the model. Bulk density values of 2.95 and 2.7 were assigned to mineralization and waste rock based on 53 separate SG determinations from drill core pulp composite samples representing 556 m of diamond drill core. Interpolation was done using Ordinary Kriging on blocks 10 m x 10 m x 10 m in size. Only zinc and silver were consistently assayed throughout the three years of drilling, and therefore these were the only metals estimated. At a 1% zinc cut-off grade, the Logan Main Zone was estimated to contain 42.7 Mt at an average grade of 2.76% zinc and 12.89 ppm silver1.

The 2012 Tetra Tech historical estimate, reported at a % zinc cut-off grade, is summarized in Table 1. The entire resource was classified as an inferred historical resource, based on a lack of QA/QC and specific gravity (SG) data, a lack of original assay certificates to validate the data, and an inability to confirm the locations of any drillholes. The Logan Main Zone historical estimate was classified using the definitions set out in CIM Definition Standards for Mineral Resources and Mineral Reserves (2010), which was superseded by CIM (2014). Similarly, the Main Zone estimate predates CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). To verify the historical estimate as a current mineral resource a Qualified Person would need to prepare an updated mineral resource estimate and NI 43-101 technical report with respect to the Logan Property.

Subject to permitting and stakeholder engagement, Almadex plans to commence an Independent QP review of the previous work towards the preparation of a new Technical Report and a QP site visit in the summer of 2022 after snow melt. Data review to date indicates that there is potential to enlarge the mineralised envelope of the historic resource as the deposit was generally drilled to 120-240m down dip (only one hole was drilled to 400m down dip), and the deposit remains open, particularly on the northeast side.

Table 1: Logan Main Zone Deposit Historical Inferred Resource Estimate – (Tetra Tech 2012)

Zn Cut-off Volume (m3) > Cut-off Tonnes > Cut-off Grade > Cut-off
Zn Grade (%) Ag Grade (pm)
0.5 19,369,095 57,138,829 2.25 10.6
1 14,462,266 42,663,685 2.76 12.89
2 7,830,622 23,100,336 3.88 17.45
3 4,832,848 14,256,903 4.77 20.82
4 2,882,300 8,502,785 5.65 23.76
5 1,575,225 4,646,915 6.64 25.7
7 457,511 1,349,657 8.74 31.52

Table 1 above illustrates the sensitivity of the historical mineral resource estimate to different cut-off grades for a potential open-pit operation scenario with reasonable outlook for economic extraction. The reader is cautioned that the figures provided in the above table, other than those relating to the 1.0% base case cut-off, should not be interpreted as a statement of historical or current mineral resources. Quantities and estimated grades for different cut-off grades are presented for the sole purpose of demonstrating the sensitivity of the historical resource model to the choice of a specific cut-off grade.

Transaction

Logan has been explored by multiple parties over the past forty years. Almaden Minerals Ltd. (“Almaden”) assumed ownership of a 40% joint venture interest in the Project through a joint venture agreement when it amalgamated with Fairfield Minerals in 2002. Under the joint venture agreement, Almaden was carried to a production decision, and both parties had certain rights and restrictions regarding ownership transfer. In its spinout by way of Plan of Arrangement in 2015, Almaden was not able to secure the necessary waivers of rights or restrictions from the majority joint venture owner to transfer the minority Logan interest to Azucar Minerals Ltd. (“Azucar”), but undertook to Azucar to do so once these were attained. Likewise, when Azucar completed its spinout by way of Plan of Arrangement in 2018 to create Almadex (the spinouts of 2015 and 2018 are collectively referred to as the “Spinout Arrangements” below), Azucar undertook to complete the spinout of the Logan interest to Almadex once Azucar was in a position to do so.

In 2003, Expatriate Resources Limited acquired the majority 60% interest in the Logan joint venture agreement from Total Energold. At the time, Expatriate was investigating the Project as part of a broader evaluation of the combined resources of Logan and the Wolverine property, located approximately 100 kilometers to the north. In 2004, Expatriate re-organized its business and changed its name to Yukon Zinc Corp. (“YZC”), focused on the development of the Wolverine project. In 2008, YZC was acquired by Jinduicheng Canada Resources Corporation Limited (“JCR”), which is majority-owned by Jinduicheng Molybdenum Group, which in turn is wholly owned by Shaanxi Non-ferrous Metals Holding Group Co., Ltd.

YZC went on to construct and develop the Wolverine mine, which reached commercial production in 2012, but was put on care and maintenance in 2015. In 2019, PricewaterhouseCoopers Inc. was appointed Receiver over YZC. Almaden, acting on behalf of the Company under the terms of the Joint Venture Agreement and consistent with the Spinout Arrangements, was able to acquire the remaining 60% joint venture interest in the Project, dissolve the joint venture agreement, and transfer Logan to the Company for CAD$121,100 in cash, with the Company assuming all costs and obligations, including an indemnification to Almaden, related thereto.

Next Steps

Almadex is now focused on stakeholder mapping and data review. As noted above, Almadex recognizes and respects the Ross River Dena Council and Liard First Nation as traditional owners of the area within which the Project is located and hopes to have the opportunity to meet with them in the near term to understand their view of the Project and hopes for the area and to consult with them prior to any work programs. It is anticipated that future work programs would initially consist of a QP site visit which would direct a possible updated resource estimate and filing of a NI 43-101 Technical Report.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, and an independent “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

About Almadex

Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of exploration projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex’s management team. The Company remains focussed on grassroots exploration, acquisition and drilling mineral projects, on its own and in partnership with others, with the goal of creating new mineral resources and royalty holdings. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.

On behalf of the Board of Directors,

“J. Duane Poliquin”

J. Duane Poliquin, Chairman
Almadex Minerals Ltd.

Neither the 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.

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release relating to the Company include, among other things, the planned data review, stakeholder mapping and stakeholder development. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability, relationships with third-party clientele and their willingness or ability to continue to use the Company’s drills for exploration, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.

Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/

This press release was originally posted on the website of GlobeNewswire.

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June 08, 2022

KRUGER COMPLETES ACQUISITION OF KAMLOOPS PULP MILL

KAMLOOPS, B.C.,  June 1, 2022 /PRNewswire/ – Kruger is pleased to announce that its affiliate Kruger Specialty Papers Holding L.P. today completed the acquisition of Domtar’s pulp mill in Kamloops, British Columbia. The Kamloops facility, which manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp, will continue to operate as usual, honouring all existing volume commitments and…

KAMLOOPS, B.C. June 1, 2022 /PRNewswire/ – Kruger is pleased to announce that its affiliate Kruger Specialty Papers Holding L.P. today completed the acquisition of Domtar’s pulp mill in Kamloops, British Columbia.

The Kamloops facility, which manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp, will continue to operate as usual, honouring all existing volume commitments and agreements with customers and suppliers. The Mill’s 320 jobs will be maintained.  In addition, Kruger intends to maintain ongoing initiatives to continue modernizing the Mill.

This acquisition will also enable Kruger to secure the supply of high-quality pulp for some of its paper mills, including those in Quebec, where the Company is investing about $1 billion for the construction of two state-of-the-art tissue plants.

The Company also recognizes the important role that the Kamloops Mill plays in the Thompson/Okanagan region and will work closely with local sawmills and wood fibre suppliers to strengthen relationships with these key partners.

“We are very happy to welcome our new Kamloops colleagues into our group and to expand our activities in British Columbia,” said François D’Amours, Kruger’s Executive Vice President and Chief Operating Officer. “Kamloops is a world-class facility and a natural fit for Kruger considering its strong emphasis on product quality, employee safety and sustainability. Over the coming weeks, as we support and empower our Kamloops team to keep doing the great work they’ve been doing, we will also focus on strengthening relationships with the Mill’s existing customers, suppliers, and business partners, as well as with the local community which we are proud to call home from now on.”

With this acquisition, Kruger is strengthening its presence in British Columbia as a major employer and provider of essential products. Taking into account its other operations, namely the Kruger Products tissue plant, in New Westminster, and Kruger Energy’s Zeballos Lake Hydro Plant, on the northwest coast of Vancouver Island, the Company now has close to 700 employees in the province.

Recognized as one of Canada’s most innovative and forward-thinking industrial companies, Kruger has more than 70 years of pulp and paper making experience and a long-standing commitment to environmental protection, employee safety, responsible sourcing, and energy efficiency. It will therefore ensure that the Kamloops Mill continues to uphold the highest industry standards in all these areas.

Scotiabank acted as exclusive financial advisor to Kruger in the context of this acquisition with McCarthy Tétrault LLP acting as legal advisors.

About Kruger

Founded in Canada in 1904, Kruger Inc. is a major provider of tissue products; 100% recycled containerboard; corrugated packaging; publication papers; specialty papers; pulp; renewable energy; cellulosic biomaterials; and wines and spirits. The Company is also a leader in paper and paperboard recycling in North America. A privately held family company, Kruger Inc. has 5,500 employees and its facilities are located in Québec, OntarioBritish Columbia, and Newfoundland and Labrador, as well as in the States of TennesseeMaineNew YorkVirginiaKentucky and Rhode Islandwww.kruger.com

This press release was originally posted on the website of PRNewswire.

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June 08, 2022

Akima Subsidiary Compass Point Awarded Contract to Support the U.S. Army’s Cyber Capability Development Integration Directorate (CDID)

Will support the CDID vision as the premier capability development provider for Signal, Cyber, and Electromagnetic Warfare across all warfighting functions HERNDON, Va., June 1, 2022 /PRNewswire/ — Akima today announced that its subsidiary, Compass Point, is one of four companies awarded a contract by the U.S. Army to provide program support to the Cyber Capability Development…

Will support the CDID vision as the premier capability development provider for Signal, Cyber, and Electromagnetic Warfare across all warfighting functions

HERNDON, Va.June 1, 2022 /PRNewswire/ — Akima today announced that its subsidiary, Compass Point, is one of four companies awarded a contract by the U.S. Army to provide program support to the Cyber Capability Development Integration Directorate (CDID) at Fort Gordon, GA. The estimated value of the contract to all awardees is $201.8 million over five years if all options are exercised.

“The work of the Capability Development Integration Directorate is critical to ensuring and improving the U.S. Army’s combat effectiveness and readiness in Large Scale Combat Operations and Multi-Domain Operations,” said Barry Smallwood, President of Akima’s Emerging Markets Group. “We are pleased to support this work by providing our expertise in helping military and civilian government customers continuously improve Army capabilities and increase the combat effectiveness and readiness of the future force.”

CDID is the U.S. Army’s force modernization proponent for cyberspace operations, signal communications, and electromagnetic warfare. Compass Point will provide support for the entirety of CDID operations, including cyber battle lab, concepts & analysis, requirements integration, information advantage and program management.

As a result of the contract award, Compass Point is planning to grow its presence in Fort Gordon to support the range of expertise required to support CDID. This will include a focus on veterans with relevant experience.

“Akima and our subsidiary companies share a strong legacy of hiring veterans and transitioning military professionals,” said Smallwood. “We offer these experts an opportunity to work for a company that allows them to continue to support the mission and grow their capabilities.”

About Compass Point, an Akima Company

From cloud computing and artificial intelligence (AI) to big data and analytics, the future of IT has arrived. Government agencies are embracing disruptive technologies at an increasing rate to improve decision-making, take control of data security, and deliver superior mission outcomes. As an SBA-certified 8(a) company wholly owned by an Alaska Native Corporation, Compass Point delivers a broad range of skilled IT services to support a smarter, more connected government.

About Akima

Akima is a global enterprise with more than 8,000 employees, delivering agile solutions to the federal government in the core areas of facilities, maintenance, and repair; information technology; logistics; protective services; systems engineering; mission support; furniture, fixtures & equipment (FF&E); and construction. As a subsidiary of NANA, an Alaska Native Corporation owned by more than 14,000 Iñupiat shareholders, Akima’s core mission is to enable superior outcomes for our customers’ missions while simultaneously creating a long-lived asset for NANA consistent with our Iñupiat values. In 2021, Akima ranked #28 on Washington Technology’s Top 100 List and #63 on Bloomberg Government’s BGOV200 List of top federal contractors. To learn more about Akima, visit www.akima.com.

SOURCE Akima

This press release was originally posted on the website of PRNewswire.

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June 07, 2022

WESTERN COPPER AND GOLD COMMENCES EXPLORATION AND DRILLING PROGRAM AT CASINO

VANCOUVER, BC, June 6, 2022 /PRNewswire/ – Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN) (NYSE American: WRN) announces its 2022 exploration and drilling program (the “Program”) at its wholly owned Casino Copper-Gold Project (“Casino”). The Program was developed in collaboration with Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement entered…

VANCOUVER, BCJune 6, 2022 /PRNewswire/ – Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN) (NYSE American: WRN) announces its 2022 exploration and drilling program (the “Program”) at its wholly owned Casino Copper-Gold Project (“Casino”).

The Program was developed in collaboration with Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement entered as part of an investment by Rio Tinto Canada in Western (see news release dated May 17, 2021).  The Program consists of several components outlined below:

Exploration Drilling

The key exploration target for the Program will be a deep magnetotelluric (“MT”) low-resistivity anomaly initially identified in 2009 by a Titan IP-MT survey, and better defined by data reprocessing in 2018 as depicted in Figure 1 below.  The anomaly trends NE-SW, is approximately 1,300 m long and 500 m wide, and is expected to be encountered at approximately 800 m depth in the location shown in Figure 1.  An equally extensive induced polarization (“IP”) anomaly lies above and northwest of this MT anomaly.  Historical drill holes that penetrated that anomaly contained low-grade copper and gold values.  A second deep drill hole, located approximately 175 m southwest, is contingent on the results of the first drill hole.

Enersoft Logging

The Program also involves scanning of drill core utilizing the innovative GeologicalAI robotic scanning device built by Enersoft Inc., of Calgary, Alberta.  The scanning includes Light Detection and Ranging (“LIDAR”) scanning, X-ray fluorescence (“XRF”) analysis, hyperspectral analysis, high-resolution photography and some geotechnical analyses. The primary focus will be to continue standardization of rock types drilled throughout all programs completed to date.  Scanning will be done on approximately 50,000 m of historical drill core and the 2022 exploration drilling targeting the MT anomaly, which will be given priority for scanning throughout the Program.

Geotechnical Drilling

The Program will also include roughly 1,500 m of geotechnical and hydrological drilling designed by Knight-Piesold Consulting. This will target the ground conditions of the proposed tailings management facility, proposed heap leaching and milling facilities and the new airstrip. In addition, several test pits are planned for the proposed heap-leach area.

“We are excited to launch our 2022 exploration and drilling program.”, said Paul West-Sells, President and CEO, “The deep MT anomaly is a target that we’ve wanted to drill for a number of years, and the geotechnical program will be key to the development of our ESE statement, on track for submission next year.”

COVID-19 Policy

The health and safety of our employees, contractors, visitors, and the communities in which we operate are paramount. To that end, we have implemented a COVID-19 policy to reduce the spread of COVID-19 at our exploration camp, and in the Yukon.  We will continue to follow the guidance issued by the Federal and Territorial governments for the operation of remote camps and mining operations. All of our policies can be found on our website, at https://casinomining.com/about-us/casino-site-policies/.

Technical information in this news release has been reviewed and approved by Carl Schulze, P.Geo, and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation is developing the Casino Project, Canada’s premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.  For more information, visit www.westerncopperandgold.com.

On behalf of the board,

“Paul West-Sells”

Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western’s operations in future periods. Statements that are not historical fact are “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” as that term is defined in National Instrument 51-102 (“NI 51-102”) of the Canadian Securities Administrators (collectively, “forward-looking statements”). Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding perceived merit of properties; mineral reserve and resource estimates; capital expenditures; feasibility study results (including projected economic returns, operating costs, and capital costs in connection with the Casino Project); exploration results at the Company’s property; budgets; permitting or other timelines; economic benefits from the mine and/or the access road; strategic plans; market price of precious and base metals; or other statements that are not statement of fact. In making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the assumptions that the circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the extent to which COVID-19 may impact the Company, including without limitation disruptions to the mobility of Company personnel, increased labour and transportation costs, and other related impacts, will not change in a materially adverse manner; that all regulatory approvals required to complete the Company’s planned exploration and development activities will be received in a timely manner and on acceptable terms; that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis; and that general business conditions will not change in a materially adverse manner.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; COVID-19 risks to employee health and safety and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak; uncertainties related to raising sufficient financing in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in Western’s AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

SOURCE Western Copper and Gold Corporation

This press release was originally posted on the website of PRNewswire.

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June 07, 2022

HighGold Mining Announces US$9 million 2022 Exploration Program at Johnson Tract Project, Alaska

VANCOUVER, British Columbia–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) is pleased to announce plans for a US$9 million exploration program (the “Program”) for the 2022 field season at the Johnson Tract polymetallic Gold Project (“Johnson Tract”, “JT” or the “Project”) in Southcentral Alaska, USA. The Project hosts the high-grade JT Deposit with a…

VANCOUVER, British Columbia–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) is pleased to announce plans for a US$9 million exploration program (the “Program”) for the 2022 field season at the Johnson Tract polymetallic Gold Project (“Johnson Tract”, “JT” or the “Project”) in Southcentral Alaska, USA. The Project hosts the high-grade JT Deposit with a 0.75moz indicated resource at 10.9 g/t gold equivalent (“AuEq”). An updated and expanded mineral resource for the JT Deposit is expected to be delivered before the end of the second quarter 2022 and will incorporate 27,000 meters of drilling from the 2020 and 2021 drill programs.

2022 Johnson Tract Exploration Program Strategy

  • A minimum of 13,000 meters of diamond drilling allocated to test the following:
    • JT Deposit (Approx. 35% of meters) – focused step-out and infill drilling on the mineral resource footprint, including follow-up on successful down-plunge and on strike expansion drill holes completed in 2021 including. 4.3m grading 20.0 g/t AuEq (see Company press release dated September 14, 2022)
    • DC Prospect Discovery in 2022 (Approx. 35% of meters) – follow-up drilling of the exceptionally high-grade, late season drill discovery, of 6.4m grading 577.9 g/t Au and 2,023 g/t Ag (included 1.26m at 2,860 g/t Au and 9,990 g/t Ag plus 1.5m at 60.7 g/t Au and 220 g/t Ag; see Company press release dated October 6, 2021)
    • Milkbone Prospect, Priority Target (Approx. 20% of meters)– first time testing of high-grade soil geochemistry and boulder samples (up to 8.3 g/t Au and 184 g/t Au respectively) at the Milkbone Prospect and the 1.2 km long northeast trending mineralized corridor between the Milkbone and DC prospects
    • Other Johnson District prospects (Approx. 10% of meters) – including Kona, Easy Creek and South Valley.
  • Preparations well underway to open camp mid-June with drilling to commence shortly thereafter
  • Commissioning of an onsite sample preparation facility for crushing and pulverizing drill core samples, which will significantly reduce assay turn-around time and enable more efficient follow-up of positive results during the 2022 drill program
  • Preliminary engineering and environmental baseline studies to support Project planning
  • Geological mapping, prospecting, and soil & rock sampling programs to follow-up and expand on the positive results generated from the 2021 program and refine drill targets coupled with Drone-Magnetic airborne surveying

“After drilling one of the best drill intersections globally in 2021*, we are poised to have drills turning to follow-up on our exciting new high-grade discovery at the DC Prospect,” commented Darwin Green, President and CEO. “Our priority objectives and allocation of capital for the 2022 drill program are: i) continued expansion of the JT Deposit; ii) definition of one or more new deposits within the DC-Milkbone prospect area; and iii) make a further discovery on one of the regional targets. We are particularly excited about getting back to the new DC discovery with additional drilling and to the Milkbone prospect where we had the highest gold grade in soil samples anywhere on the property to date. With C$19.5 million in working capital, HighGold is fully funded for the planned program.” Click here for additional comments from CEO Darwin Green.

2022 Program Details

Preparations are underway to open the JT camp mid-June and to commence drilling shortly thereafter. The Program will start with two (2) drill rigs, with plans to add a third should another drill rig become available. The current drill plan contemplates approximately one-third of the total meters dedicated to expansion and infill of the JT Deposit and immediately surrounding targets, and two-thirds dedicated to the DC-Milkbone Corridor and other Johnson District prospects.

About the Johnson Tract Gold Project

Johnson Tract is a poly-metallic (gold, copper, zinc, silver, lead) project located near tidewater, 125 miles (200 kilometers) southwest of Anchorage, Alaska, USA. The 21,000-acre property includes the high-grade Johnson Tract Deposit (“JT Deposit”) and at least nine (9) other mineral prospects over a 12-kilometer strike length. HighGold acquired the Project through a lease agreement with Cook Inlet Region, Inc. (“CIRI”), one of 12 land-based Alaska Native regional corporations created by the Alaska Native Claims Settlement Act of 1971. CIRI is owned by more than 9,100 shareholders who are primarily of Alaska Native descent.

Mineralization at Johnson Tract occurs in Jurassic-age intermediate volcaniclastic rocks and is characterized as epithermal-type with submarine volcanogenic attributes. The JT Deposit is a thick, steeply dipping silicified body (20m to 50m average true thickness) that contains a stockwork of quartz-sulphide veinlets and brecciation, cutting through and surrounded by a widespread zone of anhydrite alteration. The Footwall Copper Zone is located structurally and stratigraphically below JT Deposit and is characterized by copper-silver rich mineralization.

The JT Deposit hosts an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent (“AuEq”) comprised of 6.07 g/t Au, 5.8 g/t Ag, 0.57% Cu, 0.80% Pb and 5.85% Zn. The Inferred Resource of 0.58 Mt grading 7.16 g/t AuEq is comprised of 2.05 g/t Au, 8.7 g/t Ag, 0.54% Cu, 0.33% Pb, and 6.67% Zn. Reported mineral resources are based on drill holes completed to the end of 2019. Approximately 27,000 meters of new drilling have subsequently been completed and a new resource estimate is anticipated Q2 2022. For additional details see NI 43-101 Technical Report titled “Updated Technical Report for the Johnson Tract Project, Alaska” dated August 9, 2021 authored by Ray C. Brown, CPG, and James N. Gray, P.Geo. Gold Equivalent is based on assumed metal prices and 90% recovery for Au, Ag, Cu, Pb, and Zn. Assumed metal prices for the Resource are US$1350/oz for gold (Au), US$16/oz for silver (Ag), US$2.80/lb for copper (Cu), US$1.00/lb for lead (Pb), and US$1.20/lb for zinc (Zn) and are based on nominal 3-year trailing averages as of April 1, 2020. Historical metallurgical testing on drill core samples has indicated that good gold and base metal recoveries and marketable concentrates can be expected.

Prior to HighGold, the Project was last explored in the mid-1990s by a mid-tier mining company that evaluated direct shipping material from Johnson to the Premier Mill near Stewart, British Columbia.

About HighGold

HighGold is a mineral exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in accessible Southcentral Alaska, USA. The Company also controls one of the largest junior gold miner land positions in the Timmins, Ontario gold camp. This includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold’s experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.

Ian Cunningham-Dunlop, P.Eng., Senior VP Exploration for HighGold Mining Inc. and a qualified person (“QP“) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

On Behalf of HighGold Mining Inc.

Darwin Green

President & CEO

For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com

*Drill hole DC21-010 from the DC Prospect was ranked as the third best drill hole in 2021 amongst TSX listed companies by Opaxe. Opaxe is an independent Australian mining database company that compiles the best drill intersections reported around the world and then ranks them based on gold equivalent grams per tonne using prevailing metal prices. Visit www.opaxe.com for additional information on AuEq parameters.

The Company has a robust QAQC program that includes the insertion of blanks, standards and duplicates.

Neither 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.

Forward looking statements: This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively “forward looking statements”). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “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. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s planned drill program are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

This press release was originally posted on the website of BusinessWire.

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May 30, 2022

Building blue economy in the Arctic

Arctic Economic Council-30 May 2022 The Arctic is an ocean surrounded by land masses and the regional economy is closely tied to the sea. The private sector sees green technology, efficient use of resources, and community engagement as key elements of sustainable development. The critical role of the local communities’ involvement during infrastructure development in…

Arctic Economic Council-30 May 2022

The Arctic is an ocean surrounded by land masses and the regional economy is closely tied to the sea. The private sector sees green technology, efficient use of resources, and community engagement as key elements of sustainable development.

The critical role of the local communities’ involvement during infrastructure development in the Arctic became one of the key themes in a breakout session organised by the Arctic Economic Council in cooperation with the United Nations Economic Commission for Europe (UNECE) and with the  IESE Business School in Barcelona in frames of the 6th UNECE International Public Private Partnership (PPP) Forum. Here speakers from such companies as Troms Kraft, Massterly, ATCO, and the Aleut International Association discussed the role of PPPs in developing the blue economy in different parts of the Arctic.

Arctic blue economy opportunities

The cornerstone of the blue economy lies in the sustainable use of ocean resources, economic growth, job creation, improving living standards, and at the same time, preserving the environment.

“The Arctic has a lot of opportunities linked to the blue economy, for example, fishing, mining, connectivity, and shipping. To take advantage of these opportunities, the Arctic needs infrastructure investments. Yet developing the blue economy is not only about attracting financial resources but also about solving the declining demographics,” said Mads Qvist Frederiksen, the AEC Executive director.

Deep-water port in the Aleutians

In the North American Arctic, the indigenous communities take the lead in infrastructure development necessary for the blue economy. Many of them have been living on and of the ocean for centuries, as did, for example,  the  Aleuts, an indigenous group in Alaska.

 “We know the importance of water transportation and how it can be incorporated into our traditional way of life. Sustainable economic development is important to the people, and the communities in the Aleut region, and maritime activity plays an important role. From transportation, food security and jobs, the ocean plays a vital part of the Aleut’s way of life,” said Thomas Mack, representative of the Aleut International Association.

One investment opportunity that the Aleuts are promoting is an all-year-round deep-water port on the Adak Island in the Bering sea. There is already some infrastructure available due to the commercial fishing industry, past military activities, and the current shipment on the Great Circle Route through the Aleutian Islands.

Shipping industry goes green

As maritime transportation in the Arctic is intensifying, the need for zero emission vessels is becoming more and more urgent. One of the other speakers was the innovative, Norwegian company Massterly which is developing autonomous, zero emissions vessels.

There are many design concepts for zero emission-vessels, the smaller vessels can be electrified and use battery power, while larger vessels can be powered by hydrogen, green ammonia, solar, wind, and perhaps even nuclear power.

Recently the Norwegian government has set up zero emissions requirements by 2026 for vessels operating in the World Heritage fjords to protect the nature. Similarly, “green corridors” should be established in vulnerable Arctic areas.

Pia Meling, VP Sales and Marketing at Massterly, says: “We see autonomy as a means to reduce the operating costs of shipping by having a crew onshore supporting several vessels from remote operation centre. This way, autonomy can help ship owners & operators afford zero emission fuels and zero emissions technology, which are more expensive than current solutions based on diesel. It can also increase safety, as technology can prevent human errors. Organizing rescue operations in Arctic conditions is very challenging, so if we can transport cargo on uncrewed vessels in the Artic in the future, the risk of human lives in an accident will be less.”

 

Photo credit:  Kelly L, www.pexels.com

Press release obtained from The Arctic Economic Council website

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May 30, 2022

Stock exchange announcement: Norway Royal Salmon ASA completes acquisition of SalmoNor AS, and merges with SalMar ASA

STOCK EXCHANGE ANNOUNCEMENT: (Trondheim, 30 May 2022) Norway Royal Salmon ASA (“NRS”) and SalMar ASA (“SalMar”) (the “Parties”) have entered into an agreement to merge the two companies, where SalMar ASA will be the acquiring company (the “Merger”). Negotiated proposed terms of trade are 0.369 shares in SalMar per share in NRS. Based on SalMar’s volume -…

STOCK EXCHANGE ANNOUNCEMENT: (Trondheim, 30 May 2022)

Norway Royal Salmon ASA (“NRS”) and SalMar ASA (“SalMar”) (the “Parties”) have entered into an agreement to merge the two companies, where SalMar ASA will be the acquiring company (the “Merger”).

  • Negotiated proposed terms of trade are 0.369 shares in SalMar per share in NRS. Based on SalMar’s volume – weighted average closing price on the Oslo Stock Exchange from 4 April to 20 May 2022, this amounted to a value of NOK 265.18 per share in NRS, corresponding to a premium of 6.3% compared to the closing price on Friday 27 May 2022. and 12.1% compared to NRS ‘average closing price over the last 30 days.
  • The purpose of the Merger is to increase value creation in the regions in which the companies operate, and to make it possible to realize synergies between the companies.
  • The merger is conditional on NRS ‘acquisition of SalmoNor AS (“SalmoNor”) being carried out immediately prior to the completion of the Merger, and that all conditions for the implementation of SalMar’s voluntary offer for the shares in NTS ASA (“NTS”) (the “NTS Offer”). ) has been fulfilled or finally dropped, or the voluntary offer has been completed.

Rational

The parties have several overlapping industrial activities, both in Norway, the West Fjords in Iceland and offshore aquaculture. A merger of the Parties will make it possible to realize major synergies:

  • Both parties have a long career in, and expertise from, salmon farming in Norway. The merger will facilitate better capacity utilization of the combined MTB and location portfolio, as well as improved operations and cost structure. 
  • NRS’s new smolt plant in Dåfjord outside Tromsø and SalMar’s development of the Senja 2 and Tjuin plants, together with the Parties’ existing smolt capacity, will be valuable resources to ensure the delivery of the right smolt at the right time and facilitate improved biological performance throughout the value chain.
  • SalMar’s new processing plant at Senja, InnovaNor, will secure significant additional volumes through the Merger. This will provide economies of scale through improved capacity utilization and logistics, as well as a reduction in biological risk.
  • SalmoNor has companies throughout the value chain and has delivered solid results over many years. SalmoNor is located in Rørvik, which is located in production area 7, and will therefore complement SalMar’s operations in Central Norway.
  • The parties also have great expertise in sales and logistics, and the Merger will provide improved access to customers worldwide.
  • Both SalMar and NRS have made significant investments in offshore-related farming technology, which offers great synergy potential. Together, the Parties will be a strong force in the further development and realization of offshore aquaculture.
  • Both Parties operate in the Westfjords of Iceland through Icelandic Salmon (controlled by SalMar) and Arctic Fish (controlled by NRS). Together, the Parties can realize major synergies through, for example, streamlined operations at sea and optimal structure in the value chain on land, including smolts, processing and sales.
  • A merger will strengthen competence and capacity, and prepare the ground for further sustainable growth for the Parties. The companies have a strong corporate culture, and the expected significant production growth they are facing will strengthen the company’s attractiveness as an employer with a need for competent, district-based labor.
  • The merger can strengthen the overall financial position, through increased sales and achievable cost synergies.

Paal E. Johnsen, Chairman of the Board of NRS, says in a statement that «A merger of NRS and SalMar has solid industrial roots, at the same time as it is a good solution for the shareholders in NRS. Through the merger, they will be settled in a liquid share, with prospects for significant synergies and good dividend potential, where the valuation of NRS in the merger is at a historically high level ».

Leif Inge Nordhammer, Chairman of the Board of SalMar, says in a statement that “A merger between SalMar and NRS makes sense. We are now merging strong teams that constitute the best aquaculture expertise in Norway. The merger also enables us to extract synergies better and faster than with the implementation of SalMar’s voluntary offer to acquire all shares in NTS ».

Terms and conditions

The transaction will be completed in two consecutive steps.

First, immediately prior to the completion of the Merger, NRS will carry out the agreed transfer of SalmoNor AS (“SalmoNor”) from NTS against settlement in cash and shares in line with a previously entered into agreement with associated supplementary agreements. The share price for the NRS shares used in this settlement is set corresponding to the value set for the NRS shares in the Merger. The cash portion of the SalmoNor transaction will be paid by issuing a promissory note that will be settled after the merger between SalMar and NRS has been completed. Additional agreements have been entered into between NTS and NRS / NRS Farming AS in connection with the SalmoNor transaction that regulates this. This means that the board of NRS has decided to propose to the general meeting of NRS that the following capital increase be implemented:

  • The share capital in NRS is increased by NOK 15,360,452 by issuing 15,360,452 new shares, each with a nominal value of NOK 1.00, at a subscription price of NOK 265.18 per share, and the total subscription amount is NOK 4,073,284,661 .
  • As a deposit for the shares, NTS shall transfer to NRS a receivable from NRS Farming AS with a nominal value of NOK 4 073 284 661 which arises in connection with the completion of the SalmoNor transaction. The new shares will be issued in full to NTS.
  • The capital increase will be carried out on the same day as the SalmoNor transaction is carried out and just prior to the completion of the Merger between SalMar and NRS. Implementation of the capital increase presupposes that NRS and SalMar have declared that all the conditions for the implementation of the Merger have been met and that this will be implemented immediately after the issue.

Immediately thereafter, NRS will merge with SalMar, where both existing shareholders in NRS and the shareholder who have received recently issued shares in the SalmoNor acquisition will receive shares in SalMar plus a cash share, in line with the agreed merger plan.

  • The merger will take place via a merger where SalMar will take over NRS in accordance with the rules for mergers in the Public Limited Liability Companies Act.
  • The NRS shareholders will receive 0.303933 shares in SalMar and NOK 52.84 in cash per NRS share, which results in the NRS shareholders having a total ownership interest in SalMar of approx. 12.3% upon completion of the Merger and the NTS offer.
  • If SalMar’s previously announced dividend of NOK 20 per SalMar share is not adopted with an ownership register date set prior to the completion of the Merger, the shareholders will instead receive 0.295475 shares in SalMar for each NRS share. The cash consideration will remain unchanged.
  • Fractional shares will not be allotted, and for each shareholder the shares will be rounded down to the nearest whole number. In cases where there are shares left over after rounding, these will not be allotted, but issued to and sold by Arctic Securities AS and the sale price distributed proportionally between those who should have had fractional shares.
  • The implementation of the Merger is subject to the approval of shareholders at both SalMar and NRS in extraordinary general meetings which are expected to be held around 30 June 2022 (the “General Meetings”).
  • Kverva Industrier AS which owns approx. 50.88% of the shares in SalMar, LIN AS which owns approx. 1.10% of the shares in SalMar, and NTS which owns approx. 68.14% of the shares in NRS have committed to attend the respective General Meetings and vote for the Merger.
  • In addition to the approval of the respective General Meetings, the implementation of the Merger is also conditional on:
    • (i) SalMar has announced that all conditions for the implementation of the NTS Offer, as regulated in the offer document from SalMar dated 17 March 2022 (“NTS Offer Document”) have been met or waived (or that the NTS Offer has been completed);
    • (ii) NTS has transferred all shares in the subsidiary SalmoNor to NRS and NRS has issued and delivered 15,360,452 new shares in NRS to NTS as part of the consideration for SalmoNor;
    • (iii) all necessary approvals for the Merger from competition authorities and other relevant authorities have been granted unconditionally or on terms that will not have a material adverse effect on the business of the merged company or materially alter the basis of the terms of the merger.
  • Subject to the Merger being approved by the respective General Meetings, it is expected that the Merger will be completed during the third quarter of 2022.
  • Further information about the Merger will be made available in the Merger Plan for the Merger.
  • The merger will not have any effect on, or lead to adjustments in, the NTS offer, where the terms follow from the NTS Offer Document and separate stock exchange announcements published by SalMar related to the NTS offer.

Financing of the cash portion of the merger

SalMar has a number of available sources of financing that do not affect SalMar’s dividend capacity and investments in the value chain, including, but not limited to, available cash and debt capacity based on SalMar’s sound financial position.

Advisors

Carnegie AS is the financial advisor and Wikborg Rein Advokatfirma AS is the legal advisor to NRS.

Arctic Securities AS is the financial advisor and the law firm BAHR AS is the legal advisor to SalMar.

Information

A digital analyst conference will be held on Monday 30 May 2022 at 09:00 where representatives of the companies will participate. To attend the digital analyst conference, please email Arctic Securities, [email protected] .

A press conference will be held on Monday 30 May 2022 at 14:00 in the auditorium of SpareBank 1 SMN in Søndre gate 4 in Trondheim. At this press conference, representatives of both companies will give a joint presentation of the merger plans, and be available to answer questions. This will happen in Norwegian. The press conference will be available via webcast on the company’s website, www.norwayroyalsalmon.com .

For more information, please contact:

Charles Høstlund, Acting CEO NRS

Tel: +47 994 18 449

Paal E. Johnsen, Chairman of the Board of NRS

Tel: +47 484 02 000

Presentation of the merger here

Press release obtained from the Norway Royal Salmon website and translated into english.

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Marathon Gold Secures U$81 Million of Equipment Financing for Project Development and Mining Operations at the Valentine Gold Project

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce the execution of a credit-approved commitment letter with Caterpillar Financial Services Limited (“Cat Financial”) for equipment lease financing related to the development and operation of the Valentine Gold Project located in central Newfoundland (the “Project”). Matt Manson,

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce the execution of a credit-approved commitment letter with Caterpillar Financial Services Limited (“Cat Financial”) for equipment lease financing related to the development and operation of the Valentine Gold Project located in central Newfoundland (the “Project”).

Matt Manson, President and CEO of Marathon, commented: “We are very happy to be announcing today our equipment leasing commitment with Cat Financial, another significant milestone in our project financing arrangements for the Valentine Gold Project. This agreement will provide financing for the Project’s mobile mining equipment through project development and into the first several years of mining operations at an attractive overall cost of capital for Marathon.”

The commitment letter announced today with Cat Financial contemplates US$81 million of equipment leasing for Caterpillar trucks, excavators, graders, loaders, and dozers, for the purpose of loading, hauling, road maintenance, waste dump maintenance and primary pit support for the Project. The Cat Financial lease will be available to the Company upon release of the Project from its federal Environment Assessment process, review of the Project’s updated Feasibility Study, satisfaction of a cost to complete certification, and other customary conditions.

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of five mineralized deposits along a 20-kilometre system. An April 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return. The Project has estimated Proven Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.92 Moz (32.59 Mt at 1.83 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.22 Moz (24.07 Mt at 1.57 g/t). Additional Inferred Mineral Resources are 1.64 Moz (29.59 Mt at 1.72 g/t Au). Please see Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com for further details and assumptions relating to the Valentine Gold Project.

For more information, please contact:

 

Amanda Mallough
Senior Associate, Investor Relations
Tel: 416 855-8202
[email protected]
Matt Manson
President & CEO
[email protected]
Julie Robertson
CFO
[email protected]

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release, constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. More particularly and without restriction, this news release contains forward-looking statements and information about the FS and the results therefrom (including IRR, NPV5%, Capex, FCF, AISC and other financial metrics), the realization of mineral reserve and mineral resource estimates, the future financial or operating performance of the Company and the Project, capital and operating costs, the ability of the Company to obtain all government approvals, permits and third-party consents in connection with the Company’s exploration, development and operating activities, the potential impact of COVID-19 on the Company, the Company’s ability to successfully advance the Project and anticipated benefits thereof, economic analyses for the Valentine Gold Project, processing and recovery estimates and strategies, future exploration and mine plans, objectives and expectations and corporate planning of Marathon, future environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements concerning the interpretation of exploration results and the impact on the Project’s mineral resource estimate, the Company has provided such statements in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; uncertainty as to estimation of mineral resources; inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources); the potential for delays or changes in plans in exploration or development projects or capital expenditures, or the completion of feasibility studies due to changes in logistical, technical or other factors; the possibility that future exploration, development, construction or mining results will not be consistent with the Company’s expectations; risks related to the ability of the current exploration program to identify and expand mineral resources; risks relating to possible variations in grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; operational mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity and power prices, foreign exchange rate fluctuations and changes in interest rates; the uncertainty of profitability based upon the cyclical nature of the mining industry; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or other stakeholder approvals or in the completion of development or construction activities; risks related to environmental regulation and liability, government regulation and permitting; risks relating to the Company’s ability to attract and retain skilled staff; risks relating to the timing of the receipt of regulatory and governmental approvals for continued operations and future development projects; political and regulatory risks associated with mining and exploration; risks relating to the potential impacts of the COVID-19 pandemic on the Company and the mining industry; changes in general economic conditions or conditions in the financial markets; and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities, including the Annual Information Form for the year ended December 31, 2021.

You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities available at www.sedar.com. Other than as specifically required by law, Marathon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

This press release was originally posted on the website of GlobeNewswire.

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Marathon Gold Receives Mining Leases for the Valentine Gold Project

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce that it has received Mining Leases for the Valentine Gold Project in central Newfoundland (the “Project”). The Mining Leases cover the development of the Marathon and Leprechaun Deposits and have a term of 20 years. They have

TORONTO, June 13, 2022 (GLOBE NEWSWIRE) — Marathon Gold Corporation (“Marathon” or the “Company”; TSX: MOZ) is pleased to announce that it has received Mining Leases for the Valentine Gold Project in central Newfoundland (the “Project”). The Mining Leases cover the development of the Marathon and Leprechaun Deposits and have a term of 20 years. They have been issued by the Newfoundland and Labrador (“NL”) Department of Industry, Energy and Technology pursuant to the terms of the NL Mineral Act (1990).

Receipt of the Mining Leases is a key milestone in the permitting of mining operations at the Project. It follows the completion of the provincial Environmental Assessment (“EA”) process in March of this year and the approval of the Project to proceed to development by the NL Cabinet.

A federal EA for the Project remains ongoing and is approaching completion. On May 25, 2022, a draft Environmental Assessment Report for the Project was filed by the Impact Assessment Agency of Canada, to be available for 30 days for public review and comment. At the conclusion of this period, the Minister of Environment and Climate Change Canada will be in a position to make a Decision Statement on the acceptability of the Project for development. A positive Decision Statement will mark the completion of the federal EA.

About Marathon

Marathon (TSX:MOZ) is a Toronto based gold company advancing its 100%-owned Valentine Gold Project located in the central region of Newfoundland and Labrador, one of the top mining jurisdictions in the world. The Project comprises a series of five mineralized deposits along a 20-kilometre system. An April 2021 Feasibility Study outlined an open pit mining and conventional milling operation over a thirteen-year mine life with a 31.5% after-tax rate of return. The Project has estimated Proven Mineral Reserves of 1.40 Moz (29.68 Mt at 1.46 g/t) and Probable Mineral Reserves of 0.65 Moz (17.38 Mt at 1.17 g/t). Total Measured Mineral Resources (inclusive of the Mineral Reserves) comprise 1.92 Moz (32.59 Mt at 1.83 g/t) with Indicated Mineral Resources (inclusive of the Mineral Reserves) of 1.22 Moz (24.07 Mt at 1.57 g/t). Additional Inferred Mineral Resources are 1.64 Moz (29.59 Mt at 1.72 g/t Au). Please see Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities and available at www.sedar.com for further details and assumptions relating to the Valentine Gold Project.

For more information, please contact:

 

Amanda Mallough
Senior Associate, Investor Relations
Tel: 416 855-8202
[email protected]
Matt Manson
President & CEO
[email protected]
Julie Robertson
CFO
[email protected]

To find out more information on Marathon Gold Corporation and the Valentine Gold Project, please visit www.marathon-gold.com.

Cautionary Statement Regarding Forward-Looking Information

Certain information contained in this news release, constitutes forward-looking information within the meaning of Canadian securities laws (“forward-looking statements”). All statements in this news release, other than statements of historical fact, which address events, results, outcomes or developments that Marathon expects to occur are forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future, and readers are cautioned that such statements may not be appropriate for other purposes. More particularly and without restriction, this news release contains forward-looking statements and information about the FS and the results therefrom (including IRR, NPV5%, Capex, FCF, AISC and other financial metrics), the realization of mineral reserve and mineral resource estimates, the future financial or operating performance of the Company and the Project, capital and operating costs, the ability of the Company to obtain all government approvals, permits and third-party consents in connection with the Company’s exploration, development and operating activities, the potential impact of COVID-19 on the Company, the Company’s ability to successfully advance the Project and anticipated benefits thereof, economic analyses for the Valentine Gold Project, processing and recovery estimates and strategies, future exploration and mine plans, objectives and expectations and corporate planning of Marathon, future environmental impact statements and the timetable for completion and content thereof and statements as to management’s expectations with respect to, among other things, the matters and activities contemplated in this news release.

Forward-looking statements involve known and unknown risks, uncertainties and assumptions and accordingly, actual results and future events could differ materially from those expressed or implied in such statements. You are hence cautioned not to place undue reliance on forward-looking statements. In respect of the forward-looking statements concerning the interpretation of exploration results and the impact on the Project’s mineral resource estimate, the Company has provided such statements in reliance on certain assumptions it believes are reasonable at this time, including assumptions as to the continuity of mineralization between drill holes. A mineral resource that is classified as “inferred” or “indicated” has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed that any or part of an “indicated mineral resource” or “inferred mineral resource” will ever be upgraded to a higher category of mineral resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into proven and probable mineral reserves.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations; uncertainty as to estimation of mineral resources; inaccurate geological and metallurgical assumptions (including with respect to the size, grade and recoverability of mineral resources); the potential for delays or changes in plans in exploration or development projects or capital expenditures, or the completion of feasibility studies due to changes in logistical, technical or other factors; the possibility that future exploration, development, construction or mining results will not be consistent with the Company’s expectations; risks related to the ability of the current exploration program to identify and expand mineral resources; risks relating to possible variations in grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined; operational mining and development risks, including risks related to accidents, equipment breakdowns, labour disputes (including work stoppages and strikes) or other unanticipated difficulties with or interruptions in exploration and development; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; risks related to commodity and power prices, foreign exchange rate fluctuations and changes in interest rates; the uncertainty of profitability based upon the cyclical nature of the mining industry; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental or other stakeholder approvals or in the completion of development or construction activities; risks related to environmental regulation and liability, government regulation and permitting; risks relating to the Company’s ability to attract and retain skilled staff; risks relating to the timing of the receipt of regulatory and governmental approvals for continued operations and future development projects; political and regulatory risks associated with mining and exploration; risks relating to the potential impacts of the COVID-19 pandemic on the Company and the mining industry; changes in general economic conditions or conditions in the financial markets; and other risks described in Marathon’s documents filed with Canadian securities regulatory authorities, including the Annual Information Form for the year ended December 31, 2021.

You can find further information with respect to these and other risks in Marathon’s Annual Information Form for the year ended December 31, 2021 and other filings made with Canadian securities regulatory authorities available at www.sedar.com. Other than as specifically required by law, Marathon undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results otherwise.

This press release was originally posted on the website of GlobeNewswire.

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Síldarvinnslan hf. acquires a 34.2% share in the Norwegian salmon farming company Arctic Fish Holding AS

10/6/2022 | News Síldarvinnslan hf. has entered into an agreement with Bremesco Holding Limited together with a group of shareholders, who own a total of 10,899,684 shares, or 34.2%, in Arctic Fish Holding AS for the purchase of their shares in the company. The purchase price is NOK 1,089,968,400 and will be paid in cash, which will be

10/6/2022 | News

Síldarvinnslan hf. has entered into an agreement with Bremesco Holding Limited together with a group of shareholders, who own a total of 10,899,684 shares, or 34.2%, in Arctic Fish Holding AS for the purchase of their shares in the company. The purchase price is NOK 1,089,968,400 and will be paid in cash, which will be partly financed by raising loans.

Arctic Fish Holding AS is listed on the Euronext Growth Market in Oslo and the company owns 100% of the shares in Arctic Fish ehf. which is one of the leading salmon farming companies in Iceland and operates fish farms in the Westfjords, where the company has a license for over 27 thousand tonnes for aquaculture.

Gunnþór Ingvason, CEO of Síldarvinnslan, says the following about the acquisition:

“Salmon farming is a fast-growing industry that we have been following in recent years. Increased resources and knowledge have entered the industry in recent years and we believe there are great opportunities.

We buy just over a third of Arctic Fish Holding AS, which is majority owned by a Norwegian aquaculture company with extensive knowledge and experience in the industry. We are happy to have the opportunity to work with them in strengthening the company.

The company has ambitious plans and has been in a major investment and development phase in recent years. We see opportunities in increased cooperation between aquaculture companies in the area. “

Press release obtained from Síldarvinnslan hf and translated into English

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Almadex Announces Acquisition of 100% of Logan Zn/Ag Project in Yukon Territory

VANCOUVER, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce it has acquired 100% ownership of the Logan Zinc, Silver project (“Logan”, or the “Project”) located in the Yukon, Canada. As fully outlined below, a Company predecessor discovered the Logan Project in 1979. The project

VANCOUVER, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) — Almadex Minerals Ltd. (“Almadex” or the “Company”) (TSX-V: “DEX”) is pleased to announce it has acquired 100% ownership of the Logan Zinc, Silver project (“Logan”, or the “Project”) located in the Yukon, Canada. As fully outlined below, a Company predecessor discovered the Logan Project in 1979. The project was then joint ventured, leaving Almadex’s predecessor a retained 40% interest carried to “Positive Production Decision”. The majority interest subsequently changed ownership, but the property was never the focus for the various operators. Almadex has been able to acquire 100% of the Logan project legally through a bankruptcy receivership, finally allowing for the project to be advanced. Key take aways for the Logan Project include:

  • Located 38 km north of the Alaska Highway, accessed historically by 52 km long winter road;
  • Historic inferred resource prepared in 2012 for the Logan Main Zone reporting 42.7 Mt with average grades of 2.76% zinc and 12.89 ppm silver at a 1% zinc cut-off grade (see below for details and disclosure);
  • Deposit remains open along strike and down dip.

Duane Poliquin, Chairman of Almadex, stated, “We have long been pushing to advance the Logan project but have been constrained by the joint venture agreement and the unresponsive nature of the prior majority owners. With this transaction we are now finally able to start the work necessary to surface the tremendous potential which exists at this project. We look forward to meeting and consulting with all rightsholders including the Ross River Dena Council and Liard First Nation to discuss exploration and development approaches that can meet the expectations of local people, the Indigenous owners, the Yukon government and other Company stakeholders.”

Logan Project Details and Historic Mineral Resource Estimate

The Logan Project is located 108 km northwest of Watson Lake in south central Yukon. The Project consists of 156 contiguous quartz mining claims located in the Watson Lake Mining District, covering over 3,200 hectares. The Project is located on the traditional territory of the Ross River Dena Council and Liard First Nation, 38 km north of the Alaska Highway. Access for past major work programs was facilitated with a 52 km long winter road from the Alaska Highway. In 1987, a 700 m long by 20 m wide gravel airstrip was established on the Property; future use of the airstrip would require surface re-levelling, but small, short runway aircraft may be able to land at this time. The winter road permit was not renewed past 2009 and re-opening the road would require further permitting. Currently, the Project can be accessed via helicopter.

According to historic reports, Logan contains a zinc-silver deposit consisting of fracture and vein hosted zinc-silver mineralization within a granitic intrusion. The Main Zone occurs along an 8,000m long NE-trending fault-related structure. The Main Zone is tabular, dips 70 degrees to the NW, extends for 1,100m along strike, varies from 50m to 150m in width, and has been traced to depths of 275m and remains open. The mineralization is up to 90 metres thick in relatively gentle terrain and minimal overburden, making it attractive for open pit mining. In March, 2004, in its public filings prior to bankruptcy, Yukon Zinc Corp. noted that exploration defined low grade zinc mineralization in the East and West Zones of the deposit that require more drilling to better define resources, that historic drilling in the deeper parts of the Main Zone includes important intersections, such as 9 metres grading 10.07% zinc and 65.2 g/t silver, that could be amenable to underground mining, and that the deposit remains open at depth and along strike.

Logan has been explored by means of sequential programs of mapping, soil sampling, geophysics, and diamond drilling since the 1980s. The work conducted by or on behalf of Cordilleran Engineering, Getty Resources Ltd., Fairfield Minerals, Total Energold Minerals Inc., Expatriate Resources, and Yukon Zinc Corp. (Yukon Zinc) is briefly summarised as follows:

1979: Staking of Logan 1 to 36 quartz mining claims to cover new zinc-silver-tin-copper gossan. Geological mapping, soil and stream sediment geochemistry, hand trenching, and test IP, EM and magnetometer geophysical surveys.

1980-1985: Additional soil geochemistry, claim staking, hand trenching, and geophysical surveys were completed.

1986-1989: Exploration drilling of 103 holes totalling 16,438 metres. Fifteen trenches totalling 2,412 metres and ongoing soil geochemistry and geophysical surveys. Metallurgical testwork at Lakefield Research Laboratories under supervision of Strathcona Mineral Services Limited. Flotation of both high- and low-grade zinc samples indicated that recoveries of 93-95% zinc and 85-90% silver could be projected to a zinc concentrate.

2003: Additional staking and completion of a baseline environmental survey was conducted in and around the Logan property.

2006: Yukon Zinc Corp. retained Bell Geospace to conduct an Air Full Tensor Gravity (Air-FTG) survey.

2012: Wardrop, a Tetra Tech Company (Tetra Tech) was retained by Yukon Zinc to prepare a Technical Report, including an historical mineral resource estimate, on the Logan Property in 2012. The 2012 Tetra Tech Technical Report is treated as a historical mineral resource. A Qualified Person has not done sufficient work to classify the historical estimate as a current mineral resource and Almadex is not treating this historical estimate as current mineral resources.

The 2012 Logan historical mineral resource estimate is considered to be relevant and reliable. The Tetra Tech historical estimate for the Logan Main Zone deposit, used sample assay data from 56 drillholes which intersect the deposit containing 4,314 zinc and silver assays. Samples were composited to 2 m lengths and no assay values were capped. The Logan Main Zone deposit was modeled as a single mineralized geological wireframe bounded by two faults (the hanging wall and footwall faults) striking southwest and dipping moderately northwest. Where the position of the upper and lower faults bounds is uncertain a grade cut-off of 0.5% zinc was used to constrain the model. Bulk density values of 2.95 and 2.7 were assigned to mineralization and waste rock based on 53 separate SG determinations from drill core pulp composite samples representing 556 m of diamond drill core. Interpolation was done using Ordinary Kriging on blocks 10 m x 10 m x 10 m in size. Only zinc and silver were consistently assayed throughout the three years of drilling, and therefore these were the only metals estimated. At a 1% zinc cut-off grade, the Logan Main Zone was estimated to contain 42.7 Mt at an average grade of 2.76% zinc and 12.89 ppm silver1.

The 2012 Tetra Tech historical estimate, reported at a % zinc cut-off grade, is summarized in Table 1. The entire resource was classified as an inferred historical resource, based on a lack of QA/QC and specific gravity (SG) data, a lack of original assay certificates to validate the data, and an inability to confirm the locations of any drillholes. The Logan Main Zone historical estimate was classified using the definitions set out in CIM Definition Standards for Mineral Resources and Mineral Reserves (2010), which was superseded by CIM (2014). Similarly, the Main Zone estimate predates CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines (2019). To verify the historical estimate as a current mineral resource a Qualified Person would need to prepare an updated mineral resource estimate and NI 43-101 technical report with respect to the Logan Property.

Subject to permitting and stakeholder engagement, Almadex plans to commence an Independent QP review of the previous work towards the preparation of a new Technical Report and a QP site visit in the summer of 2022 after snow melt. Data review to date indicates that there is potential to enlarge the mineralised envelope of the historic resource as the deposit was generally drilled to 120-240m down dip (only one hole was drilled to 400m down dip), and the deposit remains open, particularly on the northeast side.

Table 1: Logan Main Zone Deposit Historical Inferred Resource Estimate – (Tetra Tech 2012)

Zn Cut-off Volume (m3) > Cut-off Tonnes > Cut-off Grade > Cut-off
Zn Grade (%) Ag Grade (pm)
0.5 19,369,095 57,138,829 2.25 10.6
1 14,462,266 42,663,685 2.76 12.89
2 7,830,622 23,100,336 3.88 17.45
3 4,832,848 14,256,903 4.77 20.82
4 2,882,300 8,502,785 5.65 23.76
5 1,575,225 4,646,915 6.64 25.7
7 457,511 1,349,657 8.74 31.52

Table 1 above illustrates the sensitivity of the historical mineral resource estimate to different cut-off grades for a potential open-pit operation scenario with reasonable outlook for economic extraction. The reader is cautioned that the figures provided in the above table, other than those relating to the 1.0% base case cut-off, should not be interpreted as a statement of historical or current mineral resources. Quantities and estimated grades for different cut-off grades are presented for the sole purpose of demonstrating the sensitivity of the historical resource model to the choice of a specific cut-off grade.

Transaction

Logan has been explored by multiple parties over the past forty years. Almaden Minerals Ltd. (“Almaden”) assumed ownership of a 40% joint venture interest in the Project through a joint venture agreement when it amalgamated with Fairfield Minerals in 2002. Under the joint venture agreement, Almaden was carried to a production decision, and both parties had certain rights and restrictions regarding ownership transfer. In its spinout by way of Plan of Arrangement in 2015, Almaden was not able to secure the necessary waivers of rights or restrictions from the majority joint venture owner to transfer the minority Logan interest to Azucar Minerals Ltd. (“Azucar”), but undertook to Azucar to do so once these were attained. Likewise, when Azucar completed its spinout by way of Plan of Arrangement in 2018 to create Almadex (the spinouts of 2015 and 2018 are collectively referred to as the “Spinout Arrangements” below), Azucar undertook to complete the spinout of the Logan interest to Almadex once Azucar was in a position to do so.

In 2003, Expatriate Resources Limited acquired the majority 60% interest in the Logan joint venture agreement from Total Energold. At the time, Expatriate was investigating the Project as part of a broader evaluation of the combined resources of Logan and the Wolverine property, located approximately 100 kilometers to the north. In 2004, Expatriate re-organized its business and changed its name to Yukon Zinc Corp. (“YZC”), focused on the development of the Wolverine project. In 2008, YZC was acquired by Jinduicheng Canada Resources Corporation Limited (“JCR”), which is majority-owned by Jinduicheng Molybdenum Group, which in turn is wholly owned by Shaanxi Non-ferrous Metals Holding Group Co., Ltd.

YZC went on to construct and develop the Wolverine mine, which reached commercial production in 2012, but was put on care and maintenance in 2015. In 2019, PricewaterhouseCoopers Inc. was appointed Receiver over YZC. Almaden, acting on behalf of the Company under the terms of the Joint Venture Agreement and consistent with the Spinout Arrangements, was able to acquire the remaining 60% joint venture interest in the Project, dissolve the joint venture agreement, and transfer Logan to the Company for CAD$121,100 in cash, with the Company assuming all costs and obligations, including an indemnification to Almaden, related thereto.

Next Steps

Almadex is now focused on stakeholder mapping and data review. As noted above, Almadex recognizes and respects the Ross River Dena Council and Liard First Nation as traditional owners of the area within which the Project is located and hopes to have the opportunity to meet with them in the near term to understand their view of the Project and hopes for the area and to consult with them prior to any work programs. It is anticipated that future work programs would initially consist of a QP site visit which would direct a possible updated resource estimate and filing of a NI 43-101 Technical Report.

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, and an independent “Qualified Person” as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.

About Almadex

Almadex Minerals Ltd. is an exploration company that holds a large mineral portfolio consisting of exploration projects and NSR royalties in Canada, the U.S., and Mexico. This portfolio is the direct result of many years of prospecting and deal-making by Almadex’s management team. The Company remains focussed on grassroots exploration, acquisition and drilling mineral projects, on its own and in partnership with others, with the goal of creating new mineral resources and royalty holdings. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.

On behalf of the Board of Directors,

“J. Duane Poliquin”

J. Duane Poliquin, Chairman
Almadex Minerals Ltd.

Neither the 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.

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release relating to the Company include, among other things, the planned data review, stakeholder mapping and stakeholder development. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability, relationships with third-party clientele and their willingness or ability to continue to use the Company’s drills for exploration, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.

Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: [email protected]
http://www.almadexminerals.com/

This press release was originally posted on the website of GlobeNewswire.

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KRUGER COMPLETES ACQUISITION OF KAMLOOPS PULP MILL

KAMLOOPS, B.C.,  June 1, 2022 /PRNewswire/ – Kruger is pleased to announce that its affiliate Kruger Specialty Papers Holding L.P. today completed the acquisition of Domtar’s pulp mill in Kamloops, British Columbia. The Kamloops facility, which manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp, will continue to operate as usual, honouring all existing volume

KAMLOOPS, B.C. June 1, 2022 /PRNewswire/ – Kruger is pleased to announce that its affiliate Kruger Specialty Papers Holding L.P. today completed the acquisition of Domtar’s pulp mill in Kamloops, British Columbia.

The Kamloops facility, which manufactures northern bleached softwood kraft pulp (NBSK) and unbleached softwood kraft pulp, will continue to operate as usual, honouring all existing volume commitments and agreements with customers and suppliers. The Mill’s 320 jobs will be maintained.  In addition, Kruger intends to maintain ongoing initiatives to continue modernizing the Mill.

This acquisition will also enable Kruger to secure the supply of high-quality pulp for some of its paper mills, including those in Quebec, where the Company is investing about $1 billion for the construction of two state-of-the-art tissue plants.

The Company also recognizes the important role that the Kamloops Mill plays in the Thompson/Okanagan region and will work closely with local sawmills and wood fibre suppliers to strengthen relationships with these key partners.

“We are very happy to welcome our new Kamloops colleagues into our group and to expand our activities in British Columbia,” said François D’Amours, Kruger’s Executive Vice President and Chief Operating Officer. “Kamloops is a world-class facility and a natural fit for Kruger considering its strong emphasis on product quality, employee safety and sustainability. Over the coming weeks, as we support and empower our Kamloops team to keep doing the great work they’ve been doing, we will also focus on strengthening relationships with the Mill’s existing customers, suppliers, and business partners, as well as with the local community which we are proud to call home from now on.”

With this acquisition, Kruger is strengthening its presence in British Columbia as a major employer and provider of essential products. Taking into account its other operations, namely the Kruger Products tissue plant, in New Westminster, and Kruger Energy’s Zeballos Lake Hydro Plant, on the northwest coast of Vancouver Island, the Company now has close to 700 employees in the province.

Recognized as one of Canada’s most innovative and forward-thinking industrial companies, Kruger has more than 70 years of pulp and paper making experience and a long-standing commitment to environmental protection, employee safety, responsible sourcing, and energy efficiency. It will therefore ensure that the Kamloops Mill continues to uphold the highest industry standards in all these areas.

Scotiabank acted as exclusive financial advisor to Kruger in the context of this acquisition with McCarthy Tétrault LLP acting as legal advisors.

About Kruger

Founded in Canada in 1904, Kruger Inc. is a major provider of tissue products; 100% recycled containerboard; corrugated packaging; publication papers; specialty papers; pulp; renewable energy; cellulosic biomaterials; and wines and spirits. The Company is also a leader in paper and paperboard recycling in North America. A privately held family company, Kruger Inc. has 5,500 employees and its facilities are located in Québec, OntarioBritish Columbia, and Newfoundland and Labrador, as well as in the States of TennesseeMaineNew YorkVirginiaKentucky and Rhode Islandwww.kruger.com

This press release was originally posted on the website of PRNewswire.

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Akima Subsidiary Compass Point Awarded Contract to Support the U.S. Army’s Cyber Capability Development Integration Directorate (CDID)

Will support the CDID vision as the premier capability development provider for Signal, Cyber, and Electromagnetic Warfare across all warfighting functions HERNDON, Va., June 1, 2022 /PRNewswire/ — Akima today announced that its subsidiary, Compass Point, is one of four companies awarded a contract by the U.S. Army to provide program support to the Cyber

Will support the CDID vision as the premier capability development provider for Signal, Cyber, and Electromagnetic Warfare across all warfighting functions

HERNDON, Va.June 1, 2022 /PRNewswire/ — Akima today announced that its subsidiary, Compass Point, is one of four companies awarded a contract by the U.S. Army to provide program support to the Cyber Capability Development Integration Directorate (CDID) at Fort Gordon, GA. The estimated value of the contract to all awardees is $201.8 million over five years if all options are exercised.

“The work of the Capability Development Integration Directorate is critical to ensuring and improving the U.S. Army’s combat effectiveness and readiness in Large Scale Combat Operations and Multi-Domain Operations,” said Barry Smallwood, President of Akima’s Emerging Markets Group. “We are pleased to support this work by providing our expertise in helping military and civilian government customers continuously improve Army capabilities and increase the combat effectiveness and readiness of the future force.”

CDID is the U.S. Army’s force modernization proponent for cyberspace operations, signal communications, and electromagnetic warfare. Compass Point will provide support for the entirety of CDID operations, including cyber battle lab, concepts & analysis, requirements integration, information advantage and program management.

As a result of the contract award, Compass Point is planning to grow its presence in Fort Gordon to support the range of expertise required to support CDID. This will include a focus on veterans with relevant experience.

“Akima and our subsidiary companies share a strong legacy of hiring veterans and transitioning military professionals,” said Smallwood. “We offer these experts an opportunity to work for a company that allows them to continue to support the mission and grow their capabilities.”

About Compass Point, an Akima Company

From cloud computing and artificial intelligence (AI) to big data and analytics, the future of IT has arrived. Government agencies are embracing disruptive technologies at an increasing rate to improve decision-making, take control of data security, and deliver superior mission outcomes. As an SBA-certified 8(a) company wholly owned by an Alaska Native Corporation, Compass Point delivers a broad range of skilled IT services to support a smarter, more connected government.

About Akima

Akima is a global enterprise with more than 8,000 employees, delivering agile solutions to the federal government in the core areas of facilities, maintenance, and repair; information technology; logistics; protective services; systems engineering; mission support; furniture, fixtures & equipment (FF&E); and construction. As a subsidiary of NANA, an Alaska Native Corporation owned by more than 14,000 Iñupiat shareholders, Akima’s core mission is to enable superior outcomes for our customers’ missions while simultaneously creating a long-lived asset for NANA consistent with our Iñupiat values. In 2021, Akima ranked #28 on Washington Technology’s Top 100 List and #63 on Bloomberg Government’s BGOV200 List of top federal contractors. To learn more about Akima, visit www.akima.com.

SOURCE Akima

This press release was originally posted on the website of PRNewswire.

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WESTERN COPPER AND GOLD COMMENCES EXPLORATION AND DRILLING PROGRAM AT CASINO

VANCOUVER, BC, June 6, 2022 /PRNewswire/ – Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN) (NYSE American: WRN) announces its 2022 exploration and drilling program (the “Program”) at its wholly owned Casino Copper-Gold Project (“Casino”). The Program was developed in collaboration with Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement entered

VANCOUVER, BCJune 6, 2022 /PRNewswire/ – Western Copper and Gold Corporation (“Western” or the “Company”) (TSX: WRN) (NYSE American: WRN) announces its 2022 exploration and drilling program (the “Program”) at its wholly owned Casino Copper-Gold Project (“Casino”).

The Program was developed in collaboration with Rio Tinto as outlined in the Investor Rights Agreement and Subscription Agreement entered as part of an investment by Rio Tinto Canada in Western (see news release dated May 17, 2021).  The Program consists of several components outlined below:

Exploration Drilling

The key exploration target for the Program will be a deep magnetotelluric (“MT”) low-resistivity anomaly initially identified in 2009 by a Titan IP-MT survey, and better defined by data reprocessing in 2018 as depicted in Figure 1 below.  The anomaly trends NE-SW, is approximately 1,300 m long and 500 m wide, and is expected to be encountered at approximately 800 m depth in the location shown in Figure 1.  An equally extensive induced polarization (“IP”) anomaly lies above and northwest of this MT anomaly.  Historical drill holes that penetrated that anomaly contained low-grade copper and gold values.  A second deep drill hole, located approximately 175 m southwest, is contingent on the results of the first drill hole.

Enersoft Logging

The Program also involves scanning of drill core utilizing the innovative GeologicalAI robotic scanning device built by Enersoft Inc., of Calgary, Alberta.  The scanning includes Light Detection and Ranging (“LIDAR”) scanning, X-ray fluorescence (“XRF”) analysis, hyperspectral analysis, high-resolution photography and some geotechnical analyses. The primary focus will be to continue standardization of rock types drilled throughout all programs completed to date.  Scanning will be done on approximately 50,000 m of historical drill core and the 2022 exploration drilling targeting the MT anomaly, which will be given priority for scanning throughout the Program.

Geotechnical Drilling

The Program will also include roughly 1,500 m of geotechnical and hydrological drilling designed by Knight-Piesold Consulting. This will target the ground conditions of the proposed tailings management facility, proposed heap leaching and milling facilities and the new airstrip. In addition, several test pits are planned for the proposed heap-leach area.

“We are excited to launch our 2022 exploration and drilling program.”, said Paul West-Sells, President and CEO, “The deep MT anomaly is a target that we’ve wanted to drill for a number of years, and the geotechnical program will be key to the development of our ESE statement, on track for submission next year.”

COVID-19 Policy

The health and safety of our employees, contractors, visitors, and the communities in which we operate are paramount. To that end, we have implemented a COVID-19 policy to reduce the spread of COVID-19 at our exploration camp, and in the Yukon.  We will continue to follow the guidance issued by the Federal and Territorial governments for the operation of remote camps and mining operations. All of our policies can be found on our website, at https://casinomining.com/about-us/casino-site-policies/.

Technical information in this news release has been reviewed and approved by Carl Schulze, P.Geo, and a ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

ABOUT WESTERN COPPER AND GOLD CORPORATION

Western Copper and Gold Corporation is developing the Casino Project, Canada’s premier copper-gold mine in the Yukon Territory and one of the most economic greenfield copper-gold mining projects in the world.  For more information, visit www.westerncopperandgold.com.

On behalf of the board,

“Paul West-Sells”

Dr. Paul West-Sells
President and CEO
Western Copper and Gold Corporation

Cautionary Disclaimer Regarding Forward-Looking Statements and Information

This news release contains certain forward-looking statements concerning anticipated developments in Western’s operations in future periods. Statements that are not historical fact are “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995 and “forward looking information” as that term is defined in National Instrument 51-102 (“NI 51-102”) of the Canadian Securities Administrators (collectively, “forward-looking statements”). Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible” and similar expressions, or statements that events, conditions or results “will”, “may”, “could” or “should” occur or be achieved. These forward-looking statements may include, but are not limited to, statements regarding perceived merit of properties; mineral reserve and resource estimates; capital expenditures; feasibility study results (including projected economic returns, operating costs, and capital costs in connection with the Casino Project); exploration results at the Company’s property; budgets; permitting or other timelines; economic benefits from the mine and/or the access road; strategic plans; market price of precious and base metals; or other statements that are not statement of fact. In making the forward-looking statements herein, the Company has applied certain material assumptions including, but not limited to, the assumptions that the circumstances surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the extent to which COVID-19 may impact the Company, including without limitation disruptions to the mobility of Company personnel, increased labour and transportation costs, and other related impacts, will not change in a materially adverse manner; that all regulatory approvals required to complete the Company’s planned exploration and development activities will be received in a timely manner and on acceptable terms; that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis; and that general business conditions will not change in a materially adverse manner.

Forward-looking statements are statements about the future and are inherently uncertain, and actual results, performance or achievements of Western and its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements due to a variety of risks, uncertainties and other factors. Such risks and other factors include, among others, risks involved in fluctuations in gold, copper and other commodity prices and currency exchange rates; COVID-19 risks to employee health and safety and a slowdown or temporary suspension of operations in geographic locations impacted by an outbreak; uncertainties related to raising sufficient financing in a timely manner and on acceptable terms; and other risks and uncertainties disclosed in Western’s AIF and Form 40-F, and other information released by Western and filed with the applicable regulatory agencies.

Western’s forward-looking statements are based on the beliefs, expectations and opinions of management on the date the statements are made, and Western does not assume, and expressly disclaims, any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation. For the reasons set forth above, investors should not place undue reliance on forward-looking statements.

SOURCE Western Copper and Gold Corporation

This press release was originally posted on the website of PRNewswire.

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HighGold Mining Announces US$9 million 2022 Exploration Program at Johnson Tract Project, Alaska

VANCOUVER, British Columbia–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) is pleased to announce plans for a US$9 million exploration program (the “Program”) for the 2022 field season at the Johnson Tract polymetallic Gold Project (“Johnson Tract”, “JT” or the “Project”) in Southcentral Alaska, USA. The Project hosts the high-grade JT Deposit with a

VANCOUVER, British Columbia–(BUSINESS WIRE)–HighGold Mining Inc. (TSX-V:HIGH, OTCQX:HGGOF) (“HighGold” or the “Company”) is pleased to announce plans for a US$9 million exploration program (the “Program”) for the 2022 field season at the Johnson Tract polymetallic Gold Project (“Johnson Tract”, “JT” or the “Project”) in Southcentral Alaska, USA. The Project hosts the high-grade JT Deposit with a 0.75moz indicated resource at 10.9 g/t gold equivalent (“AuEq”). An updated and expanded mineral resource for the JT Deposit is expected to be delivered before the end of the second quarter 2022 and will incorporate 27,000 meters of drilling from the 2020 and 2021 drill programs.

2022 Johnson Tract Exploration Program Strategy

  • A minimum of 13,000 meters of diamond drilling allocated to test the following:
    • JT Deposit (Approx. 35% of meters) – focused step-out and infill drilling on the mineral resource footprint, including follow-up on successful down-plunge and on strike expansion drill holes completed in 2021 including. 4.3m grading 20.0 g/t AuEq (see Company press release dated September 14, 2022)
    • DC Prospect Discovery in 2022 (Approx. 35% of meters) – follow-up drilling of the exceptionally high-grade, late season drill discovery, of 6.4m grading 577.9 g/t Au and 2,023 g/t Ag (included 1.26m at 2,860 g/t Au and 9,990 g/t Ag plus 1.5m at 60.7 g/t Au and 220 g/t Ag; see Company press release dated October 6, 2021)
    • Milkbone Prospect, Priority Target (Approx. 20% of meters)– first time testing of high-grade soil geochemistry and boulder samples (up to 8.3 g/t Au and 184 g/t Au respectively) at the Milkbone Prospect and the 1.2 km long northeast trending mineralized corridor between the Milkbone and DC prospects
    • Other Johnson District prospects (Approx. 10% of meters) – including Kona, Easy Creek and South Valley.
  • Preparations well underway to open camp mid-June with drilling to commence shortly thereafter
  • Commissioning of an onsite sample preparation facility for crushing and pulverizing drill core samples, which will significantly reduce assay turn-around time and enable more efficient follow-up of positive results during the 2022 drill program
  • Preliminary engineering and environmental baseline studies to support Project planning
  • Geological mapping, prospecting, and soil & rock sampling programs to follow-up and expand on the positive results generated from the 2021 program and refine drill targets coupled with Drone-Magnetic airborne surveying

“After drilling one of the best drill intersections globally in 2021*, we are poised to have drills turning to follow-up on our exciting new high-grade discovery at the DC Prospect,” commented Darwin Green, President and CEO. “Our priority objectives and allocation of capital for the 2022 drill program are: i) continued expansion of the JT Deposit; ii) definition of one or more new deposits within the DC-Milkbone prospect area; and iii) make a further discovery on one of the regional targets. We are particularly excited about getting back to the new DC discovery with additional drilling and to the Milkbone prospect where we had the highest gold grade in soil samples anywhere on the property to date. With C$19.5 million in working capital, HighGold is fully funded for the planned program.” Click here for additional comments from CEO Darwin Green.

2022 Program Details

Preparations are underway to open the JT camp mid-June and to commence drilling shortly thereafter. The Program will start with two (2) drill rigs, with plans to add a third should another drill rig become available. The current drill plan contemplates approximately one-third of the total meters dedicated to expansion and infill of the JT Deposit and immediately surrounding targets, and two-thirds dedicated to the DC-Milkbone Corridor and other Johnson District prospects.

About the Johnson Tract Gold Project

Johnson Tract is a poly-metallic (gold, copper, zinc, silver, lead) project located near tidewater, 125 miles (200 kilometers) southwest of Anchorage, Alaska, USA. The 21,000-acre property includes the high-grade Johnson Tract Deposit (“JT Deposit”) and at least nine (9) other mineral prospects over a 12-kilometer strike length. HighGold acquired the Project through a lease agreement with Cook Inlet Region, Inc. (“CIRI”), one of 12 land-based Alaska Native regional corporations created by the Alaska Native Claims Settlement Act of 1971. CIRI is owned by more than 9,100 shareholders who are primarily of Alaska Native descent.

Mineralization at Johnson Tract occurs in Jurassic-age intermediate volcaniclastic rocks and is characterized as epithermal-type with submarine volcanogenic attributes. The JT Deposit is a thick, steeply dipping silicified body (20m to 50m average true thickness) that contains a stockwork of quartz-sulphide veinlets and brecciation, cutting through and surrounded by a widespread zone of anhydrite alteration. The Footwall Copper Zone is located structurally and stratigraphically below JT Deposit and is characterized by copper-silver rich mineralization.

The JT Deposit hosts an Indicated Resource of 2.14 Mt grading 10.93 g/t gold equivalent (“AuEq”) comprised of 6.07 g/t Au, 5.8 g/t Ag, 0.57% Cu, 0.80% Pb and 5.85% Zn. The Inferred Resource of 0.58 Mt grading 7.16 g/t AuEq is comprised of 2.05 g/t Au, 8.7 g/t Ag, 0.54% Cu, 0.33% Pb, and 6.67% Zn. Reported mineral resources are based on drill holes completed to the end of 2019. Approximately 27,000 meters of new drilling have subsequently been completed and a new resource estimate is anticipated Q2 2022. For additional details see NI 43-101 Technical Report titled “Updated Technical Report for the Johnson Tract Project, Alaska” dated August 9, 2021 authored by Ray C. Brown, CPG, and James N. Gray, P.Geo. Gold Equivalent is based on assumed metal prices and 90% recovery for Au, Ag, Cu, Pb, and Zn. Assumed metal prices for the Resource are US$1350/oz for gold (Au), US$16/oz for silver (Ag), US$2.80/lb for copper (Cu), US$1.00/lb for lead (Pb), and US$1.20/lb for zinc (Zn) and are based on nominal 3-year trailing averages as of April 1, 2020. Historical metallurgical testing on drill core samples has indicated that good gold and base metal recoveries and marketable concentrates can be expected.

Prior to HighGold, the Project was last explored in the mid-1990s by a mid-tier mining company that evaluated direct shipping material from Johnson to the Premier Mill near Stewart, British Columbia.

About HighGold

HighGold is a mineral exploration company focused on high-grade gold projects located in North America. HighGold’s flagship asset is the high-grade Johnson Tract Gold (Zn-Cu) Project located in accessible Southcentral Alaska, USA. The Company also controls one of the largest junior gold miner land positions in the Timmins, Ontario gold camp. This includes the Munro-Croesus Gold property, which is renowned for its high-grade mineralization, and the large Golden Mile and Golden Perimeter properties. HighGold’s experienced Board and senior management team, are committed to creating shareholder value through the discovery process, careful allocation of capital, and environmentally/socially responsible mineral exploration.

Ian Cunningham-Dunlop, P.Eng., Senior VP Exploration for HighGold Mining Inc. and a qualified person (“QP“) as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this release.

On Behalf of HighGold Mining Inc.

Darwin Green

President & CEO

For further information, please visit the HighGold Mining Inc. website at www.highgoldmining.com

*Drill hole DC21-010 from the DC Prospect was ranked as the third best drill hole in 2021 amongst TSX listed companies by Opaxe. Opaxe is an independent Australian mining database company that compiles the best drill intersections reported around the world and then ranks them based on gold equivalent grams per tonne using prevailing metal prices. Visit www.opaxe.com for additional information on AuEq parameters.

The Company has a robust QAQC program that includes the insertion of blanks, standards and duplicates.

Neither 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.

Forward looking statements: This news release includes certain “forward-looking information” within the meaning of Canadian securities legislation and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively “forward looking statements”). Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “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. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s planned drill program are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company’s expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

This press release was originally posted on the website of BusinessWire.

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Building blue economy in the Arctic

Arctic Economic Council-30 May 2022 The Arctic is an ocean surrounded by land masses and the regional economy is closely tied to the sea. The private sector sees green technology, efficient use of resources, and community engagement as key elements of sustainable development. The critical role of the local communities’ involvement during infrastructure development

Arctic Economic Council-30 May 2022

The Arctic is an ocean surrounded by land masses and the regional economy is closely tied to the sea. The private sector sees green technology, efficient use of resources, and community engagement as key elements of sustainable development.

The critical role of the local communities’ involvement during infrastructure development in the Arctic became one of the key themes in a breakout session organised by the Arctic Economic Council in cooperation with the United Nations Economic Commission for Europe (UNECE) and with the  IESE Business School in Barcelona in frames of the 6th UNECE International Public Private Partnership (PPP) Forum. Here speakers from such companies as Troms Kraft, Massterly, ATCO, and the Aleut International Association discussed the role of PPPs in developing the blue economy in different parts of the Arctic.

Arctic blue economy opportunities

The cornerstone of the blue economy lies in the sustainable use of ocean resources, economic growth, job creation, improving living standards, and at the same time, preserving the environment.

“The Arctic has a lot of opportunities linked to the blue economy, for example, fishing, mining, connectivity, and shipping. To take advantage of these opportunities, the Arctic needs infrastructure investments. Yet developing the blue economy is not only about attracting financial resources but also about solving the declining demographics,” said Mads Qvist Frederiksen, the AEC Executive director.

Deep-water port in the Aleutians

In the North American Arctic, the indigenous communities take the lead in infrastructure development necessary for the blue economy. Many of them have been living on and of the ocean for centuries, as did, for example,  the  Aleuts, an indigenous group in Alaska.

 “We know the importance of water transportation and how it can be incorporated into our traditional way of life. Sustainable economic development is important to the people, and the communities in the Aleut region, and maritime activity plays an important role. From transportation, food security and jobs, the ocean plays a vital part of the Aleut’s way of life,” said Thomas Mack, representative of the Aleut International Association.

One investment opportunity that the Aleuts are promoting is an all-year-round deep-water port on the Adak Island in the Bering sea. There is already some infrastructure available due to the commercial fishing industry, past military activities, and the current shipment on the Great Circle Route through the Aleutian Islands.

Shipping industry goes green

As maritime transportation in the Arctic is intensifying, the need for zero emission vessels is becoming more and more urgent. One of the other speakers was the innovative, Norwegian company Massterly which is developing autonomous, zero emissions vessels.

There are many design concepts for zero emission-vessels, the smaller vessels can be electrified and use battery power, while larger vessels can be powered by hydrogen, green ammonia, solar, wind, and perhaps even nuclear power.

Recently the Norwegian government has set up zero emissions requirements by 2026 for vessels operating in the World Heritage fjords to protect the nature. Similarly, “green corridors” should be established in vulnerable Arctic areas.

Pia Meling, VP Sales and Marketing at Massterly, says: “We see autonomy as a means to reduce the operating costs of shipping by having a crew onshore supporting several vessels from remote operation centre. This way, autonomy can help ship owners & operators afford zero emission fuels and zero emissions technology, which are more expensive than current solutions based on diesel. It can also increase safety, as technology can prevent human errors. Organizing rescue operations in Arctic conditions is very challenging, so if we can transport cargo on uncrewed vessels in the Artic in the future, the risk of human lives in an accident will be less.”

 

Photo credit:  Kelly L, www.pexels.com

Press release obtained from The Arctic Economic Council website

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Stock exchange announcement: Norway Royal Salmon ASA completes acquisition of SalmoNor AS, and merges with SalMar ASA

STOCK EXCHANGE ANNOUNCEMENT: (Trondheim, 30 May 2022) Norway Royal Salmon ASA (“NRS”) and SalMar ASA (“SalMar”) (the “Parties”) have entered into an agreement to merge the two companies, where SalMar ASA will be the acquiring company (the “Merger”). Negotiated proposed terms of trade are 0.369 shares in SalMar per share in NRS. Based on SalMar’s

STOCK EXCHANGE ANNOUNCEMENT: (Trondheim, 30 May 2022)

Norway Royal Salmon ASA (“NRS”) and SalMar ASA (“SalMar”) (the “Parties”) have entered into an agreement to merge the two companies, where SalMar ASA will be the acquiring company (the “Merger”).

  • Negotiated proposed terms of trade are 0.369 shares in SalMar per share in NRS. Based on SalMar’s volume – weighted average closing price on the Oslo Stock Exchange from 4 April to 20 May 2022, this amounted to a value of NOK 265.18 per share in NRS, corresponding to a premium of 6.3% compared to the closing price on Friday 27 May 2022. and 12.1% compared to NRS ‘average closing price over the last 30 days.
  • The purpose of the Merger is to increase value creation in the regions in which the companies operate, and to make it possible to realize synergies between the companies.
  • The merger is conditional on NRS ‘acquisition of SalmoNor AS (“SalmoNor”) being carried out immediately prior to the completion of the Merger, and that all conditions for the implementation of SalMar’s voluntary offer for the shares in NTS ASA (“NTS”) (the “NTS Offer”). ) has been fulfilled or finally dropped, or the voluntary offer has been completed.

Rational

The parties have several overlapping industrial activities, both in Norway, the West Fjords in Iceland and offshore aquaculture. A merger of the Parties will make it possible to realize major synergies:

  • Both parties have a long career in, and expertise from, salmon farming in Norway. The merger will facilitate better capacity utilization of the combined MTB and location portfolio, as well as improved operations and cost structure. 
  • NRS’s new smolt plant in Dåfjord outside Tromsø and SalMar’s development of the Senja 2 and Tjuin plants, together with the Parties’ existing smolt capacity, will be valuable resources to ensure the delivery of the right smolt at the right time and facilitate improved biological performance throughout the value chain.
  • SalMar’s new processing plant at Senja, InnovaNor, will secure significant additional volumes through the Merger. This will provide economies of scale through improved capacity utilization and logistics, as well as a reduction in biological risk.
  • SalmoNor has companies throughout the value chain and has delivered solid results over many years. SalmoNor is located in Rørvik, which is located in production area 7, and will therefore complement SalMar’s operations in Central Norway.
  • The parties also have great expertise in sales and logistics, and the Merger will provide improved access to customers worldwide.
  • Both SalMar and NRS have made significant investments in offshore-related farming technology, which offers great synergy potential. Together, the Parties will be a strong force in the further development and realization of offshore aquaculture.
  • Both Parties operate in the Westfjords of Iceland through Icelandic Salmon (controlled by SalMar) and Arctic Fish (controlled by NRS). Together, the Parties can realize major synergies through, for example, streamlined operations at sea and optimal structure in the value chain on land, including smolts, processing and sales.
  • A merger will strengthen competence and capacity, and prepare the ground for further sustainable growth for the Parties. The companies have a strong corporate culture, and the expected significant production growth they are facing will strengthen the company’s attractiveness as an employer with a need for competent, district-based labor.
  • The merger can strengthen the overall financial position, through increased sales and achievable cost synergies.

Paal E. Johnsen, Chairman of the Board of NRS, says in a statement that «A merger of NRS and SalMar has solid industrial roots, at the same time as it is a good solution for the shareholders in NRS. Through the merger, they will be settled in a liquid share, with prospects for significant synergies and good dividend potential, where the valuation of NRS in the merger is at a historically high level ».

Leif Inge Nordhammer, Chairman of the Board of SalMar, says in a statement that “A merger between SalMar and NRS makes sense. We are now merging strong teams that constitute the best aquaculture expertise in Norway. The merger also enables us to extract synergies better and faster than with the implementation of SalMar’s voluntary offer to acquire all shares in NTS ».

Terms and conditions

The transaction will be completed in two consecutive steps.

First, immediately prior to the completion of the Merger, NRS will carry out the agreed transfer of SalmoNor AS (“SalmoNor”) from NTS against settlement in cash and shares in line with a previously entered into agreement with associated supplementary agreements. The share price for the NRS shares used in this settlement is set corresponding to the value set for the NRS shares in the Merger. The cash portion of the SalmoNor transaction will be paid by issuing a promissory note that will be settled after the merger between SalMar and NRS has been completed. Additional agreements have been entered into between NTS and NRS / NRS Farming AS in connection with the SalmoNor transaction that regulates this. This means that the board of NRS has decided to propose to the general meeting of NRS that the following capital increase be implemented:

  • The share capital in NRS is increased by NOK 15,360,452 by issuing 15,360,452 new shares, each with a nominal value of NOK 1.00, at a subscription price of NOK 265.18 per share, and the total subscription amount is NOK 4,073,284,661 .
  • As a deposit for the shares, NTS shall transfer to NRS a receivable from NRS Farming AS with a nominal value of NOK 4 073 284 661 which arises in connection with the completion of the SalmoNor transaction. The new shares will be issued in full to NTS.
  • The capital increase will be carried out on the same day as the SalmoNor transaction is carried out and just prior to the completion of the Merger between SalMar and NRS. Implementation of the capital increase presupposes that NRS and SalMar have declared that all the conditions for the implementation of the Merger have been met and that this will be implemented immediately after the issue.

Immediately thereafter, NRS will merge with SalMar, where both existing shareholders in NRS and the shareholder who have received recently issued shares in the SalmoNor acquisition will receive shares in SalMar plus a cash share, in line with the agreed merger plan.

  • The merger will take place via a merger where SalMar will take over NRS in accordance with the rules for mergers in the Public Limited Liability Companies Act.
  • The NRS shareholders will receive 0.303933 shares in SalMar and NOK 52.84 in cash per NRS share, which results in the NRS shareholders having a total ownership interest in SalMar of approx. 12.3% upon completion of the Merger and the NTS offer.
  • If SalMar’s previously announced dividend of NOK 20 per SalMar share is not adopted with an ownership register date set prior to the completion of the Merger, the shareholders will instead receive 0.295475 shares in SalMar for each NRS share. The cash consideration will remain unchanged.
  • Fractional shares will not be allotted, and for each shareholder the shares will be rounded down to the nearest whole number. In cases where there are shares left over after rounding, these will not be allotted, but issued to and sold by Arctic Securities AS and the sale price distributed proportionally between those who should have had fractional shares.
  • The implementation of the Merger is subject to the approval of shareholders at both SalMar and NRS in extraordinary general meetings which are expected to be held around 30 June 2022 (the “General Meetings”).
  • Kverva Industrier AS which owns approx. 50.88% of the shares in SalMar, LIN AS which owns approx. 1.10% of the shares in SalMar, and NTS which owns approx. 68.14% of the shares in NRS have committed to attend the respective General Meetings and vote for the Merger.
  • In addition to the approval of the respective General Meetings, the implementation of the Merger is also conditional on:
    • (i) SalMar has announced that all conditions for the implementation of the NTS Offer, as regulated in the offer document from SalMar dated 17 March 2022 (“NTS Offer Document”) have been met or waived (or that the NTS Offer has been completed);
    • (ii) NTS has transferred all shares in the subsidiary SalmoNor to NRS and NRS has issued and delivered 15,360,452 new shares in NRS to NTS as part of the consideration for SalmoNor;
    • (iii) all necessary approvals for the Merger from competition authorities and other relevant authorities have been granted unconditionally or on terms that will not have a material adverse effect on the business of the merged company or materially alter the basis of the terms of the merger.
  • Subject to the Merger being approved by the respective General Meetings, it is expected that the Merger will be completed during the third quarter of 2022.
  • Further information about the Merger will be made available in the Merger Plan for the Merger.
  • The merger will not have any effect on, or lead to adjustments in, the NTS offer, where the terms follow from the NTS Offer Document and separate stock exchange announcements published by SalMar related to the NTS offer.

Financing of the cash portion of the merger

SalMar has a number of available sources of financing that do not affect SalMar’s dividend capacity and investments in the value chain, including, but not limited to, available cash and debt capacity based on SalMar’s sound financial position.

Advisors

Carnegie AS is the financial advisor and Wikborg Rein Advokatfirma AS is the legal advisor to NRS.

Arctic Securities AS is the financial advisor and the law firm BAHR AS is the legal advisor to SalMar.

Information

A digital analyst conference will be held on Monday 30 May 2022 at 09:00 where representatives of the companies will participate. To attend the digital analyst conference, please email Arctic Securities, [email protected] .

A press conference will be held on Monday 30 May 2022 at 14:00 in the auditorium of SpareBank 1 SMN in Søndre gate 4 in Trondheim. At this press conference, representatives of both companies will give a joint presentation of the merger plans, and be available to answer questions. This will happen in Norwegian. The press conference will be available via webcast on the company’s website, www.norwayroyalsalmon.com .

For more information, please contact:

Charles Høstlund, Acting CEO NRS

Tel: +47 994 18 449

Paal E. Johnsen, Chairman of the Board of NRS

Tel: +47 484 02 000

Presentation of the merger here

Press release obtained from the Norway Royal Salmon website and translated into english.

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Results for the first quarter of 2022

MAY 25, 2022 The first quarter of 2022 was special for Arctic Fish. The company suffered significant losses in the quarter as unforeseen discounts on salmon amounted to 2,512 tonnes at two locations in Dýrafjörður. The markets were strong for the products, so prices

MAY 25, 2022

The first quarter of 2022 was special for Arctic Fish. The company suffered significant losses in the quarter as unforeseen discounts on salmon amounted to 2,512 tonnes at two locations in Dýrafjörður. The markets were strong for the products, so prices in the quarter were high, but the discounts affected the company’s price formation. The production cost excluding the incident was fairly stable or about ISK 680 per kg. The return price to Arctic Fish was around ISK 978 per kg and the margin from the fire was therefore ISK 298 per kg.

In the quarter, Arctic Fish sold 4,221 tonnes of products, which is 11% more than in the same period last year. Turnover more than doubled, but revenue in the quarter amounted to ISK 4.1 billion. The reductions led to a write-down of biomass and one-off costs amounting to ISK 1.9 billion. The operating result was therefore negative and a loss of ISK 180 million.

The company continued its investments in the quarter both in the expansion of the juvenile farm in Tálknafjörður and in the slaughterhouse that the company bought in Bolungarvík. ISK 1.4 billion was invested in the quarter and the company’s total assets amounted to ISK 21.2 billion at the end of the quarter. Of the company’s assets, investments in the hatchery, aquaculture equipment, pens, ships and barges amount to ISK 10.8 billion. The biomass is estimated at ISK 4.9 billion at the end of the period. The company’s equity position remained strong at the end of the quarter and there was also sufficient undrawn space on the company’s credit lines to support the company’s continued growth. The company also received a new license for a 4,000 tonne fire in Arnarfjörður.

The future prospects are good and the outlook for the markets is good. The company is still in a period of growth and despite the shocks in the first quarter, the company plans to sell about 10,600 tons of salmon a year. Considerable construction will take place in the coming months with the expansion of the hatchery, extensions to the salmon slaughterhouse in Bolungarvík, as well as the purchase of equipment for the slaughterhouse. The investments will enable the company to increase its competitiveness in the short and long term.

For further information, please contact Neil Shiran Þórisson, CFO of the company [email protected] , +354 8315300

Press release was obtained from the Arctic Fish website and translated into English

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Samherji Fish Farming’s share capital increased by 26 million USD and Alf-Helge Aarskog joins the board of directors

12.05.2022 Samherji fiskeldi ehf. (Samherji Fish Farming), the aquaculture arm of Samherji has just completed a share capital increase of 26 million USD. The funds will be used to build a pilot project for land-based salmon farming in Öxarfjördur, in Northeast Iceland, and design and construct a 40,000-tonne

Samherji fiskeldi ehf. (Samherji Fish Farming), the aquaculture arm of Samherji has just completed a share capital increase of 26 million USD. The funds will be used to build a pilot project for land-based salmon farming in Öxarfjördur, in Northeast Iceland, and design and construct a 40,000-tonne salmon farm in the Resource Park next to the Reykjanes Power Plant in the Reykjanes Peninsula.

This is the first phase of a share capital increase of 56,5 million USD that has already been approved. Following the share capital increase, a new board will be elected in Samherji Fish Farming at the company’s annual general meeting. Norwegian Alf-Helge Aarskog, former CEO of Mowi and one of the world’s most experienced experts in the field of aquaculture, has invested in Samherji Fish Farming and will join the company’s board of directors.

Aarskog’s board participation is a significant vote of confidence for Samherji Fish Farming and its ambitious plans for land-based aquaculture. Aarskog is a very successful business executive. Until recently, he was the CEO of Mowi, the largest fish farming company globally, which produces 20 percent of all salmon sold worldwide.

A recognition of Samherji’s development of land farming

“There are few people in the world who have more experience in fish farming than Alf-Helge Aarskog. An individual with vast knowledge and experience in international aquaculture and a large network is now joining the board to take our knowledge to the next level. This is a great recognition of Samherji’s development of land farming over the past two decades,” says Jón Kjartan Jónsson, managing director of Samherji Fish Farming.

Jón Kjartan Jónsson

The site in Öxarfjördur will double in size

The operations of Samherji Fish Farming are involved in all stages of aquaculture and processing, from roe to the consumer. The company currently operates five farms and two processing plants. The company specializes in land farming of Arctic char and salmon. Until now, Arctic char has been the majority of the production, but development is currently underway for a significant increase in the production of salmon. Construction has begun on the expansion of land farming on the site in Öxarfjördur. Today, the facility produces 1,500 tonnes of salmon annually, but production will increase to 3,000 tonnes when the pilot project is completed. According to current projections, fish will enter the new tanks on-site by the end of this year. The farm in Öxarfjördur has for several years been one of the world’s largest producers of salmon raised on land.

The farm in Öxarfjördur

A 340 milljon USD investment in Reykjanes

Samherji will build and operate a land-based farm in Reykjanes Peninsula, where the aim is to produce 40,000 tonnes of salmon annually. The fish farm will be in the Resource Park next to the Reykjanes Power Plant and will consist of a hatchery, a breeding farm, a processing plant, and service buildings. The total investment is estimated at over 340 million USD. Work on the environmental assessment and local planning for the facility is currently underway. The fish farm will be designed and constructed based on the experience of new units in the pilot project in Öxarfjördur and Samherji’s employees’ more than twenty years of experience and development in farming salmon and Arctic char on land.

Fascinating times ahead

“I am honored to be asked to take part in this project. The competence of the people in Samherji around fish and land-based farming is a great foundation. The fact that Samherji has produced Atlantic salmon and Arctic Char on land for a long period of time makes this the first land-based project I have looked at that I really can believe in. The location chosen for this project, with abundant resources of water and energy, makes the project extremely interesting. There are fascinating times ahead for Samherji Fish Farming. The company has ambitious plans and the ability to achieve them and become a leading company in salmon farming in the world. I am very excited about this project and look forward to participating in the development and growth ahead,” says Alf-Helge Aarskog.

Alf-Helge Aarskog/Mowi

The largest investment in the history of Samherji

“Alf-Helge Aarskog’s investment and board participation is not only a gain for Samherji Fish Farming but also Icelandic business as a whole. His board membership is, of course, a great vote of confidence for Samherji’s staff. Moreover, the expansion that has begun at Samherji Fish Farming marks a certain milestone, as this is the largest investment project that Samherji and affiliated companies have embarked on in Samherji’s 39-year history,” says Thorsteinn Már Baldvinsson, CEO of Samherji.

Thorsteinn M. Baldvinsson/samherji
Original press release obtained from
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AEC put blue economy on the agenda at Arctic Frontiers

16. May 2022 The Arctic blue economy can help save the world – that was one of the conclusions at an expert workshop held during Arctic Frontiers 2022 in Tromsø, Norway. Here leading decision-makers from all over the Arctic gathered to discuss the Arctic finance, development and collaboration. The Arctic Economic Council, Troms and

16. May 2022

The Arctic blue economy can help save the world – that was one of the conclusions at an expert workshop held during Arctic Frontiers 2022 in Tromsø, Norway. Here leading decision-makers from all over the Arctic gathered to discuss the Arctic finance, development and collaboration.

The Arctic Economic Council, Troms and Finnmark County Council, Biotech North and PolArctic hosted a blue economy workshop that ended with valuable inputs to the way forward for companies in the north.

The workshop was held as a side event at the Arctic Frontiers conference and the main focus was on a changing Arctic – with innovations in business operations and technology as significant factors to ensure that a sustainable blue economy can flourish.

– In May 2023, Norway will take over the leadership of the Arctic Council and the Arctic Economic Council (AEC). The ocean has already been designated as one of the main focus areas for the Norwegian chairmanship. In this workshop we focused on the blue economy of the future and gather input that we can take with us in the further work of promoting blue business development in the Arctic, says Mads Qvist Frederiksen, Executive Director of AEC.

Game changers for the blue economy of the future
During the interactive  session the participants were asked “What would be the game changer for the blue economy of the future?” Sustainability, hydrogen and aquaculture was pointed out as the three main game changers. Resource, innovation and investments followed as key factors for a growing blue economy in the Arctic.

Kelp, kelp, kelp
The more than 35 experts from industry, public and finance institutions also brainstormed around possible solutions for the future of the blue economy of the Arctic. The ideas were many and great. One that stood out as measure to save a growing population was kelp. Marine infrastructure, aquaculture-agriculture integration, and smart ships and ports was also highlighted as important to ensure a sustainable blue economy in the Arctic.

The international crowd at the Norwegian event stated that the countries with the greatest potential in the blue economy are Norway, Canada and Iceland.

Photo: David Jensen

Press release obtained from the AEC website

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Arctic Fish Annual Report

MAY 12, 2022 In 2021, Arctic Fish was prosperous. The company sold about 11,500 tons of salmon, which is more than ever before. The company also produced 3.3 million juveniles, most of which went to its own aquaculture. The company was listed on the Norwegian Euronext

MAY 12, 2022

KvígyndisdalurIn 2021, Arctic Fish was prosperous. The company sold about 11,500 tons of salmon, which is more than ever before. The company also produced 3.3 million juveniles, most of which went to its own aquaculture. The company was listed on the Norwegian Euronext Growth stock market and new share capital was raised to strengthen the company’s infrastructure and future growth. An expansion of the company’s juvenile farm in Tálknafjörður was launched, an investment of around ISK 3.8 billion and increasing the company’s production capacity for juveniles up to 5 million juveniles. The company also invested in real estate and a site in Bolungarvík, where it is planned to build a slaughterhouse for the company’s production. It is estimated that the investment in the slaughterhouse will amount to up to ISK 4 billion.

The company was granted a new license in Dýrafjörður, where the maximum permitted biomass went from 4,000 tonnes to 10,000 tonnes. At the end of 2021, the company had a license for more than 23 thousand tonnes of fish in the sea. All locations of the company and the fire of the company went through an extensive and thorough assessment and all locations are with international environmental certification ASC (e. Aquaculture Stewardship Council).

Arctic Fish’s revenue in 2021 amounted to ISK 8.8 billion, compared to revenue of ISK 5.5 billion in 2020. Operating EBIT for the year amounted to ISK 1,279 million, which is ISK 1,186 million more than in the year 2020.

The average sales price per kilo in 2021 was ISK 764, compared to ISK 671 in 2020, which is an increase of 14%. Sold products increased by 54% between years, from 7,443 tonnes to 11,479 tonnes. Production costs decreased between years by 4% from ISK 662 to ISK 636 per kilo.

The margin for the year before payment of interest and taxes (Operational EBIT per kg) amounted to ISK 127 per kilo sold during the year, compared to ISK 9.4 per kilo sold in 2020. The improved margin can be attributed to two key factors, higher sales prices and lower production costs. following increased economies of scale.

The company’s profit for the year after financial items was ISK 2,246 million, compared to a loss of ISK 567 million in 2020.

At the end of 2021, the Group’s total assets were ISK 21.1 billion, while at the end of 2020, total assets amounted to ISK 16.7 billion. The main increase between years was in the form of fixed assets, which increased by ISK 1,495 million and biomass increased from ISK 5,920 million to ISK 7,536 million at the end of 2021.

Net interest-bearing debt at the end of the year amounted to ISK 4.7 billion, compared to ISK 6.9 billion net interest-bearing debt at the end of 2020. Net interest-bearing debt decreased by ISK 2.2 billion between years.

The equity ratio at the end of 2021 was 68.0%.

With this performance in 2021, Arctic Fish has become one of the largest salmon farming companies in Iceland. The company is still growing and has excellent staff and has the financial strength to achieve its growth goals.

 

The full report can be accessed here

This press release was obtained from here and translated into English

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Iceland fish farm merger nears completion

6th May 2022 A merger between two of Iceland’s leading fish farming companies has moved into its final phase. The board of Ice Fish Farm has approved a draft agreement to take over Laxar Fiskeldi. Both companies are majority owned by Måsøval of Norway. They already cooperate in a number of areas but by coming

6th May 2022

A merger between two of Iceland’s leading fish farming companies has moved into its final phase.

The board of Ice Fish Farm has approved a draft agreement to take over Laxar Fiskeldi. Both companies are majority owned by Måsøval of Norway.

They already cooperate in a number of areas but by coming together, the companies say, they will have a combined biomass of 36,800 tonnes and will create a more efficient and environmentally aware business. Talks on a possible merger began almost a year ago.

Less welcome news has been the discovery of a suspected infectious salmon anaemia (ISA) related disease at one of Laxar’s sites which is likely to reduce next year’s harvest.

An Ice Fish Farm announcement to the Oslo Stock Exchange said the company expects the merger transaction to be completed this summer.

The statement said: “The board of directors’ of the company (Ice Fish Farm) have today approved the draft share purchase agreement to effect the combination and closing of the transaction is expected to occur by end of Q2 2022.

“In connection with closing, the company will call for an EGM to approve the issuance of the 37,525,424 new consideration shares to the shareholders of Laxar, which will increase the total numbers of shares outstanding in the company to 91,525,424.”

The fish farms of both companies are physically close to each other and are mainly concentrated in the eastern part of Iceland, although Ice Fish Farm also has operations in the south of the country.

Laxar Fiskeldi is a fully integrated business and also has its own smolt production and hatchery facilities. It produces high quality salmon mainly for markets in the United States and Europe.

Ice Fish Farm, which is listed on Oslo’s EuroNext Growth market, successfully turned loss into profit during the final quarter of last year.

The original article can be found on the Fish Farmer website

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Contract awarded to replace Nisutlin Bay Bridge

Published 05/05/2022 The Yukon government’s Nisutlin Bay Bridge replacement project has been awarded to Graham Infrastructure LP for $160 million. The new Nisutlin Bay Bridge will be the largest capital project in Yukon history. It is an incredibly important crossing to the community and serves as a critical transportation link for the territory, the nation

Published 05/05/2022

The Yukon government’s Nisutlin Bay Bridge replacement project has been awarded to Graham Infrastructure LP for $160 million.

The new Nisutlin Bay Bridge will be the largest capital project in Yukon history. It is an incredibly important crossing to the community and serves as a critical transportation link for the territory, the nation and the continent.

In 2019, the Government of Yukon and the Teslin Tlingit Council signed a project charter for the bridge replacement. The new bridge was designed with input from the community and in collaboration with the Teslin Tlingit Council. The project will create many local and First Nations jobs over the coming years.

The Nisutlin Bay Bridge is a critical link along the Alaska Highway and an important landmark for Teslin. Originally designed in 1953, the bridge is nearing the end of its lifespan and needs to be replaced. The new bridge will be safer for drivers and pedestrians and will accommodate increased traffic volumes. It can also handle larger loads of commercial and strategic goods to supply the Yukon and Alaska.

The project is anticipated to begin in the coming weeks and be complete in 2026.

“The Nisutlin Bay Bridge is an important landmark for Teslin, a key gateway to the Yukon and a critical transportation link along the Alaska Highway that keeps our communities connected. This project is an excellent example of the benefits provided by the Yukon First Nations Procurement Policy and will create jobs for Teslin Tlinglit community members and Yukoners. I look forward to seeing this new bridge constructed to continue allowing travellers and goods to enter the territory while better protecting the safety of drivers and pedestrians for years to come.”

Minister of Highways and Public Works Nils Clarke

“Replacing the iconic Nisutlin Bay Bridge is a major project for our community, the largest in recent memory. We look forward to continuing to work with Yukon government and Graham Infrastructure LP to maximize the economic benefits for the community while minimizing the social impacts of the project.”

Naa Shaáde Háni of Teslin Tlingit Council Eric Morris

The original press release can be found on the Yukon government website

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Tapojärvi renews Kemi mine contracts with Outokumpu

7th May 2022 Tapojärvi Oy has agreed with Outokumpu on two significant contracts at the Kemi underground chromite mine. The agreements were signed on April 28, 2022 in Tornio, Finland. The agreements are a continuation of Outokumpu’s and Tapojärvi’s long-term cooperation at the Kemi mine regarding equipment and excavation work. The contracts took effect

7th May 2022

Tapojärvi Oy has agreed with Outokumpu on two significant contracts at the Kemi underground chromite mine. The agreements were signed on April 28, 2022 in Tornio, Finland.

The agreements are a continuation of Outokumpu’s and Tapojärvi’s long-term cooperation at the Kemi mine regarding equipment and excavation work. The contracts took effect on May 1, 2022. The equipment contract concerns the construction and maintenance of the entire Kemi underground mine infrastructure.

The excavation contract includes rear-end and support work in preparation for production. The contracts are valid for more than three years and employ a total of about 80 people.

The contractor said they agreements reached are important for continuity. In the agreements, the requirements for the development of safety and productivity have also been set to a new level, says Martti Kaikkonen, Chief Operating Officer of Tapojärvi.

“We are looking for a synergy advantage between different contracts. We are better able to take care of the safety, efficiency and quality of all our contracts when we are responsible for the best possible condition of the mine’s infrastructure,” said Anssi Rytkönen, Director of Mining Operations at Tapojärvi.

The original article can be found on the international mining website

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Yukon’s fibre-to-the-home assets now Indigenous-owned as Northwestel and 13 First Nations companies form new partnership.

WHITEHORSE, YT, May 5, 2022  /CNW/ – For the first time in Canada, the vast majority of a province or territory’s in-community fibre assets are now Indigenous-owned.  Northern Canada’s telecommunications provider Northwestel today announced the sale of its Yukon fibre-to-the-home (FTTH) assets to a group of 13 Yukon First Nation development corporations.  The announcement took place at the Arctic Indigenous Investment Conference

WHITEHORSE, YTMay 5, 2022  /CNW/ – For the first time in Canada, the vast majority of a province or territory’s in-community fibre assets are now Indigenous-owned.  Northern Canada’s telecommunications provider Northwestel today announced the sale of its Yukon fibre-to-the-home (FTTH) assets to a group of 13 Yukon First Nation development corporations.  The announcement took place at the Arctic Indigenous Investment Conference in Whitehorse.

The ground-breaking partnership, named the Shared Pathways Network, will see Northwestel making regular payments for the fibre network’s full use for 20 years, guaranteeing direct economic benefits to participating Yukon First Nation communities for decades. Northwestel will operate and maintain the network at its own cost for that period.

“We’re showing that by working cooperatively, First Nations can make these types of major investments and create more opportunities for investment and ownership in infrastructure and communications projects that impact the lives of our citizens,” said Fred Koe, Da Daghay Development Corporation Chair and designated spokesperson for the newly formed Yukon First Nations Telco LP.  “We thank the First Nations Development Corporations that formed this partnership.  We look forward to working with Northwestel’s dedicated northern employees to make our community connections even better.”

“We believe stronger connections build stronger communities.  This partnership gives Northwestel the ability to invest more upfront in northern network improvements, but more importantly it strengthens our ties over the long run to the communities we exist to serve,” says Northwestel President Curtis Shaw.   “Yukon’s Shared Pathways network is a testament to our joint commitment to walking the path of reconciliation together, for many years to come.”

The fibre assets that make up the Shared Pathways network are those being built as part of Northwestel’s Every Community Project, a three-year plan to bring high-speed unlimited Internet to every community in the NWT and Yukon.  That project is funded by the CRTC Broadband Fund and Northwestel’s own significant investments.  Fibre service with home Internet speeds of 300 Mbps has already launched in the Yukon communities of Dawson CityTeslinWatson Lake and Fort Liard, with the remaining communities coming online this year and next.  Old Crow, YT has received faster Internet speeds through improved satellite service.

Northwestel has a record of successful partnerships with Indigenous governments and development corporations throughout its history, including a recent partnership with the Tlicho government in the NWT that will see Northwestel build and operate a Tlicho-owned fibre-line to Whati, NWT.  The company hopes these partnerships can serve as a model for more Indigenous people across the North to share in ownership over the infrastructure that serves their communities.

The participating First Nations development corporations are Carcross/Tagish Management Corporation (C/TMC), Carmacks Development Corporation, Chief Isaac Group of Companies, Chu Niikwan Development Corporation/Chu Níikwän Limited Partnership, Copper Nïïsüü Limited Partnership, Da Daghay Development Corporation (DDDC), Dena Nezziddi Development Corporation, First Kaska, Kluane Dana Shaw Corporation (KDSC), Na-Cho Nyak Dun Development Corporation, Selkirk Development Corporation, Vuntut Gwitchin LP/ Vuntut Gwitchin Trust.

The original press release can be found on the Cision newswire website

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LKAB chooses Luleå for the circular industrial park for phosphorus and rare earth elements

03 May 2022 By-products from iron ore mining will be extracted via innovative circular and fossil-free processes. LKAB can increase Europe’s self-sufficiency in the critical raw materials phosphorus and rare earth elements that are needed for sustainable agriculture and the green transition · LKAB is now initiating consultation on the establishment, which will be

03 May 2022

By-products from iron ore mining will be extracted via innovative circular and fossil-free processes. LKAB can increase Europe’s self-sufficiency in the critical raw materials phosphorus and rare earth elements that are needed for sustainable agriculture and the green transition · LKAB is now initiating consultation on the establishment, which will be operational in 2027 and can entail investments amounting to as much as 10 billion kronor and create more than 500 jobs.

“LKAB is leading the transformation of the iron and steel industry with the transition to carbon-dioxide-free sponge iron. We will now broaden our business by extracting phosphorus and rare earth elements as residual products from iron ore production and increase Europe’s self-sufficiency in these critical raw materials,” explains Jan Moström, LKAB’s President and CEO.

Initially, apatite concentrate will be extracted in Kiruna and Gällivare/Malmberget. The concentrate will then be hauled by rail to the industrial park in Luleå, where it will be dissolved and processed to separate the products phosphorus, rare earth elements and fluorine, as well as gypsum as a by-product.

“We have assessed several locations in Sweden and Norway for the site of the circular industrial park. Luleå has good logistics, sufficient land, electricity, lower costs, a good labour market and housing and, not least, synergies with our existing operations. We are now initiating consultation and inviting the public and important stakeholders to meetings in preparation for our coming permit applications,” explains Leif Boström, Senior Vice President, Business Area Special Products, LKAB.

LKAB is, however, leaving the door open for the other operating locations, since a future volume increase in production may necessitate expansion at other sites. All focus is now on the development of the industrial park in Luleå.

“LKAB is important for Luleå and Luleå is important for LKAB. We have been active here for more than a century and we have close collaboration with, for example, SSAB and Luleå University of Technology. And we already have more than 220 employees and our head office, R&D and shipping facilities, as well as stockpiles and production of additives in Luleå,” says Leif Boström.

Norrbotten and Luleå have attracted global attention as a centre for the green transition. A lot will be happening in the region, which presents both opportunities and challenges.

“We have good co-operation with the Municipality of Luleå and the County Administrative Board of Norrbotten, both of which are acting to create the prerequisites for the green transition and new industrialisation. This has to do with attractiveness, permitting issues and infrastructure, for example, and it is a task that has only just begun and must accelerate,” adds Jan Moström.

For Luleå, LKAB’s planned industrial park means important development for local business. In addition to major investment and up to 500 new jobs, a whole new industrial cluster for chemical engineering will be created.

“Fantastic news! LKAB’s investment means many new jobs in an exciting future industry and that we can further strengthen Luleå as a hub for the green transition,” says municipal executive board chair Carina Sammeli (S).

The original article can be found on the LKAB website

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Churchill Acquires More Ground from Altius at Taylor Brook

TORONTO, May 02, 2022 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce that Altius Resources Inc. (“Altius”) has agreed to assign five mineral licenses totalling 262.25km2 to the Company, which tie on to the Company’s existing Taylor Brook South block, and cover a large portion of the regional

TORONTO, May 02, 2022 (GLOBE NEWSWIRE) — Churchill Resources Inc. (“Churchill” or the “Company”) (TSXV: CRI) is pleased to announce that Altius Resources Inc. (“Altius”) has agreed to assign five mineral licenses totalling 262.25km2 to the Company, which tie on to the Company’s existing Taylor Brook South block, and cover a large portion of the regional gravity feature that has been shown to host the nickel-bearing Layden Magmatic Intrusive and the adjacent Taylor Brook Gabbro Complex.

Under the terms of the agreement, the Company will reimburse to Altius their staking deposits ($52,450) and grant to Altius a 1.6% Gross Sales Royalty on the five assigned licenses.

The five new licenses will be designated as the Cormack Property and were originally staked by Altius for their gold potential as they also lie along the major Doucer’s Valley Fault Zone which has been shown to be associated with a number of gold prospects and deposits to the northeast of Taylor Brook. The Cormack Licenses have received very little exploration to date, and cover the contact between the Precambrian Grenville rocks that host the Layden and Taylor Brook gabbroic intrusives, and the younger sedimentary rocks within the Deer Lake Sub-Basin, all immediately adjacent to the Doucer’s Valley Fault Zone as per the figure below.

The Company intends to complete a first pass program in Q2 2022 of stream sediment sampling as the terrain is ideal for this method with a large number of drainage basins feeding into the valley. Initial sampling will be done by helicopter from nearby Deer Lake airport, with road and trail-accessible areas to follow as the area dries out after the spring melt. Anomalous areas for nickel, gold or other commodities of interest will receive follow-up sampling, prospecting and airborne geophysical surveys as warranted.

Paul Sobie, Chief Executive Officer of Churchill remarked, “We are pleased to continue our successful collaboration with the Altius team, and are excited to tie up more of the area of this regional gravity anomaly and fault zone. The planned work programs for Cormack are natural adjuncts to that taking place at Taylor Brook during 2022, and are expected to be easily accomplished.”

Taylor Brook Project Update

Churchill’s Phase 2 program at Taylor Brook has recently commenced with the camp being opened, and the following activities are scheduled to commence during May:

Figure 1: Property Map: https://www.globenewswire.com/NewsRoom/AttachmentNg/18fe23cc-af0f-4e0a-a995-69545a314020 

      1)   Historical core transfer to Taylor Brook camp, for relogging and sampling by CRI geologists.

2)   Cut-line grid expansion along strike from the Layden Intrusive.

3)   Surface large-loop time domain EM surveying over existing and new grid lines.

4)   Detailed Heli-GT™ magnetic gradiometer surveying at 50m line spacing along the Layden Trend, a 14km x 4km swath of the project from the Layden Intrusive in the northwest to the Taylor Brook batholith magnetic-gravity feature in the southeast.

5)   Phase 2 core drilling at the Layden Intrusive and along strike.

6)   Borehole EM surveying of select 2021 holes as well as new 2022 drillholes.

7)   Geochem sampling and prospecting along the Layden trend.

Florence Lake Project

The helicopter-borne VTEM and Horizontal Gradiometer Geophysical Survey re-commenced in early April, after having been postponed due to deteriorating weather conditions in December. The survey should be completed by early May with preliminary data delivered asap thereafter.

Churchill has commissioned Goldspot Discoveries Corp. (TSX-V: SPOT) to compile all historical exploration data on the project, for integration with the results from the VTEM survey. This work is now complete and will be used to plan follow-up geochemical sampling and prospecting for mid-summer of this year.

The technical and scientific information in this news release has been reviewed and approved by Paul Sobie, P.Geo., CEO, who is a “qualified person” as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Churchill Resources Inc.

Churchill is managed by career mining industry professionals and currently holds four exploration projects, namely Taylor Brook in Newfoundland, Florence Lake in Labrador, Pelly Bay in Nunavut and White River in Ontario. All projects are at the evaluation stage, with known mineralized Nickel-Copper-Cobalt showings at Taylor Brook, Florence Lake and Pelly Bay, and significantly diamondiferous kimberlitic intrusives at White River and Pelly Bay. The primary focus of Churchill is on the continued exploration and development of the Taylor Brook and Florence Lake Nickel Projects.

Further Information

For further information regarding Churchill, please contact:

Churchill Resources Inc.
Paul Sobie, Chief Executive Officer
Tel. +1 416.365.0930 (o)
+1 647.988.0930 (m)
Email [email protected]
Alec Rowlands, Corporate Consultant
Tel. +1 416.721.4732 (m)
Email [email protected]

 

This press release was originally posted on the website of GlobeNewswire.

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