Resource World Magazine

Copper Mountain ups 2021 production forecast by 6%

Copper Mountain Mining Corp. [CMMC-TSX] is raising its annual production forecast after reporting better-than-expected financial results in the second quarter of 2020. The company said it now expects to produce 90-100 million pounds of copper, this year, marking a 6.0% increase from previous forecasts of 85-95 million ounces. All-in-sustaining cost forecasts for 2021 remain unchanged…

Arizona Metals up on Kay Mine drilling results

Arizona Metals Corp. [AMC-TSXV] on Monday announced impressive results from drilling at the 100%-owned Kay Mine Volcanogenic Massive Sulphide (VMS) copper-gold project in Arizona. Results released Monday are from four additional holes, which targeted the recently discovered gold-rich zone of open-ended mineralization at the Kay Mine, in an area previously untested by historic drilling or…

Goliath Intersects 78 Meters of Quartz-Sulphide Veining, Brecciation and Associated Alteration in Third Drill Hole (GD21-003) At the Surebet Zone, Golden Triangle B.C.

The third drill hole, GD21-003 (165 m, 220°/-70°) intersected 78.0 meters* of quartz-sulphide veining, brecciation and associated alteration from 49.0 to 127.0 meters (link to images); The 53.5 meter* interval from 49.0 m to 102.5 m is similar in appearance to the mineralized intercepts of GD21-001 and GD21-002, containing 10% to 30% quartz vein stockwork…

Chesapeake Announces Strong PEA Results for Phase 1 Heap Leach Mine at Metates With Pre-Tax NPV of US$1.1 Billion (C$1.4 Billion) and 35% IRR

Chesapeake Gold Corp. (“Chesapeake” or the “Company”) (TSXV-CKG, OTCQX-CHPGF) is pleased to report the positive results of the Preliminary Economic Assessment (“PEA“) for the Phase 1 mine plan (“Phase 1”) of the Metates gold-silver project in Durango, Mexico. Phase 1 evaluates the initial development of Metates as a low cost, scalable heap-leach operation. The PEA…

Constantine acquires 106 lode claims in Arizona

Constantine Metal Resources Ltd. [TSXV-CEM] today announced the TSX Venture Exchange has accepted a previously submitted letter agreement between Merrill Palmer and Constantine Metal Resources Ltd. whereby the company is being granted the exclusive right to acquire from the Mr. Palmer, a 100-per-cent right, title and interest in and to 106 federal lode claims located…

Canada Rare Earth Acquires Rare Earth Trading Business

Canada Rare Earth Corp. [TSXV-LL] has entered into an agreement to acquire the rare earth trade aspects of business from TEC Commodities Limited (“TEC”), a private Hong Kong company. As a part of the ongoing initiatives to grow its rare earth centered trading business the Company has agreed, subject to regulatory approval, to acquire the…

Gold79 prepares for maiden drilling plan in Nevada

Gold79 Mines Ltd. [AUU-TSXV] said Friday it has applied for permits that would allow the company to launch a maiden drilling program at its Jefferson Canyon project in Nevada. “The work we have done over the last year at Jefferson Canyon continues to highlight the potential of this project,’’ said Gold79 President and CEO Derek…

Monarch Mining Corporation Announces a $11.25 Million Transaction With Gold Royalty Corp.

Monarch Mining Corporation (“Monarch” or the “Corporation”) (TSX: GBAR) (OTCQX: GBARF) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with Gold Royalty Corp. (“Gold Royalty”) (NYSE: GROY) whereby Gold Royalty will acquire the following royalty interests from Monarch for cash proceeds of $11.25 million (the “Transaction”): a $2.50 per tonne…

Eldorado Gold takes 11.5% stake in Probe Metals

Eldorado Gold Corp. [ELD-TSX; EGO-NYSE] said it has acquired an 11.5% stake in  Probe Metals Inc. [PRB-TSXV, PROBF-OTCQB] by picking up 15.04 million Probe shares for $1.575 each in a transaction worth $23.7 million. Prior to the acquisition, which was announced after the close of trading on July 21, 2021, Eldorado did not own any…

Orea up 44% on gold mine court decision

Orea Mining Corp. [OREA-TSX, OREAF-OTCQX, 3CG-FRA] shares soared in heavy trading Thursday, after the company and its joint venture partner announced that they had won a lawsuit against the French Government over the 5.0-million-ounce Montagne d’Or gold deposit. The shares advanced on the news, rising 44.4% or $0.04 to 13 cents on volume of over…