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Horizonte Minerals PLC Announces Award of EPCM Contract to AFRY – InvestingNews.com

Award of EPCM Contract to AFRY for Construction of the Araguaia Ferronickel Project
Horizonte Minerals Plc, (AIM:HZM)(TSX:HZM) the nickel development company focused in Brazil, is pleased to announce that it has awarded the Engineering, Procurement and Construction Management contract (the “EPCM Contract”) for the construction of its 100% owned Araguaia ferronickel project (“Araguaia” or the “Project”) to Pöyry Tecnologia Ltda (“Pöyry”), the Brazilian subsidiary of global engineering services firm AFRY
AFRY is a global leader in engineering, design and advisory services with specialist expertise and a strong track record in delivering pyrometallurgical projects for the metals and mining industry. Award of the EPCM Contract to AFRY follows a comprehensive and competitive global tender process.
The EPCM Contract, awarded via the Company’s wholly owned subsidiary Araguaia Niquel Metais Ltda., involves the provision of a comprehensive range of services across engineering, procurement, construction management, project management and commissioning.
In line with the award of the EPCM contract, Horizonte has been building an experienced owner’s team to work alongside AFRY. Under the guidance of Mike Drake, as Head of Projects, the Company has assembled a strong project leadership team with a successful track record of implementing large scale projects in Brazil with a particularl focus on the ferronickel industry. The project leadership team is now complete and mobilised at both the Company’s Belo Horizonte and Conceição do Araguaia offices. The full owner’s team totals 85 people across all key disciplines.
Horizonte’s owner’s team will work closely with Pöyry to provide direction and governance. Pöyry has been working with the Company since Q3 2021 to undertake early works and other execution preparation phase services.
Recent appointments to the Araguaia Project Leadership Team include:
Leo is a Mechanical and Mechatronic Engineer with over 24 years of experience in project implementation & management. He was previously Project Director for Vale’s B$1.9B Bahodopi nickel project (REKEF processing plant) in Asia. He has significant experience in Project Management (FEL methodology and PMI), Engineering, Construction, Maintenance and Health & Safety and has worked in Brazil, Mozambique, South Africa, Guinea, United Arab Emirates.
Leo is a Civil Engineer with over 16 years of experience in the industry. Most recently he was Head of Projects for MRN with its life of mine plan extension project. Previously he worked in Arcadis for 12 years with Project and Program Management of major industrial and infrastructure projects in Brazil, Malaysia, Indonesia, and Peru, with a focus on the mining industry, from conception to completion.
Marcia is an electrical engineer withover 30 years of experience building and commissioning electric furnaces. Marcia’s previous roles include Commissioning Manager of Vale’s Onca Puma ferronickel plant with two reduction furnace of 120MVA, Commissioning Director of Koniambo Nickel ferronickel plant with two reduction furnace of 80MVA and, Site Manager of SMS Siemag, of erection, cold and hot commissioning of two 48MVA ferronickel reduction furnaces at Minera Loma de Níquel,
Marco is a Civil Engineer with over 30 years of experience primarily in mine operation and capital projects. Most recently, he led the entire construction process for Appian’s Serrote Project in Brazil. He has 12 years of experience in the construction, contract management, commissioning, and start-up phases in the Mina Brucutu and Coal Moatize projects by Vale SA and Minas Rio by Anglo American.
Albert is aMechanical Engineer with over 30 years of experience in pryometallurgy and smelting. Albert has extensive experience in managing small- and large-scale projects from inception to final handover, developing project plans, standards, procedures, manuals and systems, growing teams, managing stakeholders, performing planning, monitoring and control functions, and ensuring efficient project completion & close-out). His previous roles include Engineering Manager roles at Anglo American, HATCH and Kumba Iron ore.
Manuel is anexperienced Metallurgical and Material Engineer, with over 20 years of experience in the ferronickel industry. He previously spent 11 years as Process Engineer for Anglo American’s Barro Alto project, optimising refractories for electrical furnace, refinery, workforce training & development, and improving ore preparation, rotary kilns, refractories and RKEF processes.
Horizonte CEO, Jeremy Martin commented: “We are delighted to welcome AFRY, another world class partner to the team for the construction of the Araguaia project. AFRY is a leader in its field and has a strong track record of successfully delivering metals and mining projects. We have been working with the local Pöyry team for several months in our project execution planning phase to ensure a smooth transfer to the construction phase of Araguaia. Araguaia will be delivered according to an EPCM strategy, in partnership with AFRY. The Horizonte owner’s team will be integrated into the AFRY team with clear roles and responsibilities which is standard practice in Brazil.
In parallel with the award of the EPCM contract we have built out our owner’s team with a focus on key individuals in the ferronickel space in Brazil, resulting in the Company we now having a very strong in-country team. The quality of the Araguaia project, the relevance of the nickel industry in the clean energy transition and Horizonte’s high sustainability standards has enabled us to secure the industry’s leading talent.”
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014, as retained in the UK pursuant to S3 of the European Union (Withdrawal) Act 2018.
For further information, visit www.horizonteminerals.com or contact:
Horizonte Minerals plc
Jeremy Martin (CEO)
Anna Legge (Corporate Communications)
Peel Hunt LLP (Nominated Adviser & Joint Broker)
Ross Allister
David McKeown
BMO (Joint Broker)
Thomas Rider
Pascal Lussier Duquette
Andrew Cameron
About Horizonte Minerals:
Horizonte Minerals plc (AIM & TSX: HZM) is developing two 100% owned, tier one projects in Parà state, Brazil – the Araguaia Nickel Project and the Vermelho Nickel-Cobalt Project. Both projects are large scale, high-grade, low-cost, low-carbon and scalable. Araguaia is fully funded and in construction. The project will produce 29,000 tonnes of nickel per year to supply the stainless steel market. Vermelho is at feasibility study stage and will produce 25,000 tonnes of nickel and 1,250 tonnes of cobalt to supply the EV battery market. Horizonte’s combined near-term production profile of over 50,000 tonnes of nickel per year positions the Company as a globally significant nickel producer. Horizonte is developing a new nickel district in Brazil that will benefit from established infrastructure, including hydroelectric power available in the Carajás Mining District.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes “forward-looking information” under Canadian securities legislation. Forward-looking information includes, but is not limited to, the ability of the Company to complete the acquisition of equipment as described herein, statements with respect to the potential of the Company’s current or future property mineral projects; the ability of the Company to complete a positive feasibility study regarding the second RKEF line at Araguaia on time, or at all, the success of exploration and mining activities; cost and timing of future exploration, production and development; the costs and timing for delivery of the equipment to be purchased as described herein, the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; the realization of mineral resource and reserve estimates and achieving production in accordance with the Company’s potential production profile or at all. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: the inability of the Company to complete the acquisition of equipment contemplated herein, on time or at all, the ability of the Company to complete a positive feasibility study regarding the implementation of a second RKEF line at Araguaia on the timeline contemplated or at all, exploration and mining risks, competition from competitors with greater capital; the Company’s lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company’s future payment obligations; potential disputes with respect to the Company’s title to, and the area of, its mining concessions; the Company’s dependence on its ability to obtain sufficient financing in the future; the Company’s dependence on its relationships with third parties; the Company’s joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company’s ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company’s plans to continue to develop its operations and new projects; the Company’s dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates, together with the risks identified and disclosed in the Company’s disclosure record available on the Company’s profile on SEDAR at www.sedar.com, including without limitation, the annual information for of the Company for the year ended December 31, 2020, the Araguaia Report and the Vermehlo Report. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: Horizonte Minerals PLC
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Intercepts include 15.09 meters grading 5.96% nickel equivalent starting at 202.87 meters
Talon Metals Corp. (TSX: TLO) OTC Pink: TLOFF) (“Talon” or the “Company”) is pleased to provide an update on the Tamarack Nickel-Copper-Cobalt Project (“Tamarack Nickel Project”), located in central Minnesota.
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Figure 1: 15.09 meters grading 4.88% Ni and 1.68% Cu (5.96% NiEq) at 202.87 meters in drill hole 21TK0355
To view an enhanced version of Figure 1, please visit:
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New assay results from drilling outside the main resource area of the Tamarack Nickel Project (CGO West area) continue to demonstrate shallow high-grade nickel-copper mineralization.
Notable assay results include the following:
 
Table 1: Highlighted Assay Results from New Drill Holes at the Tamarack Nickel Project
*See Table 3 for further technical information

“Given Talon’s recent off-take announcement with Tesla, we are continuing to progress drilling rapidly at the Tamarack Nickel Project, with the goal of completing the necessary feasibility studies,” said Brian Goldner, Chief Exploration and Operating Officer for Talon. “Today’s announcement further confirms the high-grade nature of our deposit and that the project continues to expand as we drill.”
Highlights: New Assays from CGO West Area
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Figure 2. Plan view geological map of the northern portion of the Tamarack Nickel Project (CGO West area) showing the new drill holes in red
To view an enhanced version of Figure 2, please visit:
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Figure 3: Section A represents a portion of the CGO West area looking east showing the thick intersections of nickel-copper mineralization.
To view an enhanced version of Figure 3, please visit:
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Figure 4: Section B represents a portion of the CGO West area looking east showing the thick intersections of nickel-copper mineralization.
To view an enhanced version of Figure 4, please visit:
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Table 2: Collar Locations of New Drill Holes Referred to in this Press Release
 
Collar coordinates are UTM Zone 15N, NAD83
Azimuths and dips are taken from survey record at collar unless otherwise noted


Table 3: Assay Results of New Drill Holes Referred to in this Press Release
 
Length refers to drill hole length and not True Width.
True Width is unknown at the time of publication.
All samples were analysed by ALS Minerals. Nickel, copper, and cobalt grades were first analysed by a 4-acid digestion and ICP AES (ME-MS61). Grades reporting greater than 0.25% Ni and/or 0.1% Cu, using ME-MS61, trigger a sodium peroxide fusion with ICP-AES finish (ICP81). Platinum, palladium and gold are initially analyzed by a 50g fire assay with an ICP-MS finish (PGM-MS24). Any samples reporting >1g/t Pt or Pd trigger an over-limit analysis by ICP-AES finish (PGM-ICP27) and any samples reporting >1g/t Au trigger an over-limit analysis by AAS (Au-AA26).
NiEq% = Ni%+ Cu% x $3.00/$8.00 + Co% x $12.00/$8.00 + Pt [g/t]/31.103 x $1,300/$8.00/22.04 + Pd [g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x $1,200/$8.00/22.04
CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt [g/t]/31.103 x $1,300/$3.00/22.04 + Pd [g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x $1,200/$3.00/22.04
No adjustments were made for recovery or payability.
QUALITY ASSURANCE, QUALITY CONTROL AND QUALIFIED PERSONS
Please see the technical report entitled “NI 43-101 Technical Report Updated Preliminary Economic Assessment (PEA) #3 of the Tamarack North Project – Tamarack, Minnesota” with an effective date of January 8, 2021 prepared by independent “Qualified Persons” (as that term is defined in National Instrument 43-101 (“NI 43-101”) Leslie Correia (Pr. Eng), Andre-Francois Gravel (P. Eng.), Tim Fletcher (P. Eng.), Daniel Gagnon (P. Eng.), David Ritchie (P. Eng.), Oliver Peters (P. Eng.), Volodymyr Liskovych (P.Eng.), Andrea Martin (P. E.) and Brian Thomas (P. Geo.) for information on the QA/QC, analytical and testing procedures at the Tamarack Project. Copies are available on the Company’s website (www.talonmetals.com) or on SEDAR at (www.sedar.com). The laboratory used is ALS Minerals who is independent of the Company.
Lengths are drill intersections and not necessarily true widths. True widths cannot be consistently calculated for comparison purposes between holes because of the irregular shapes of the mineralized zones. Drill intersections have been independently selected by Talon. Drill composites have been independently calculated by Talon. The geological interpretations in this news release are solely those of the Company. The locations and distances highlighted on all maps in this news release are approximate.
Dr. Etienne Dinel, Vice President, Geology of Talon, is a Qualified Person within the meaning of NI 43-101. Dr. Dinel is satisfied that the analytical and testing procedures used are standard industry operating procedures and methodologies, and he has reviewed, approved and verified the technical information disclosed in this news release, including sampling, analytical and test data underlying the technical information.
ABOUT TALON
Talon is a TSX-listed base metals company in a joint venture with Rio Tinto on the high-grade Tamarack Nickel-Copper-Cobalt Project located in central Minnesota. Talon’s shares are also traded in the US over the OTC market under the symbol TLOFF. The Tamarack Nickel Project comprises a large land position (18km of strike length) with high-grade intercepts outside the current resource area. Talon has an earn-in right to acquire up to 60% of the Tamarack Nickel Project, and currently owns 51%. Talon is focused on (i) expanding and infilling its current high-grade nickel mineralization resource prepared in accordance with NI 43-101 to shape a mine plan for submission to Minnesota regulators, (ii) following up on additional high-grade nickel mineralization in the Tamarack Intrusive Complex, and (iii) exploring the prospects for significant carbon storage in the ultra-mafic rocks that comprise the Tamarack Intrusive Complex through carbon mineralization. Talon has an agreement with Tesla Inc. to supply it with 75,000 metric tonnes (165 million lbs) of nickel in concentrate (and certain by-products, including cobalt and iron) from the Tamarack Nickel Project over an estimated six-year period once commercial production is achieved. Talon has well-qualified experienced exploration, mine development, external affairs and mine permitting teams.
For additional information on Talon, please visit the Company’s website at www.talonmetals.com/
Media Contact:
Todd Malan
1-(202)-714-8187
malan@talonmetals.com
Investor Contact:
Sean Werger
1-(416)-500-9891
werger@talonmetals.com
FORWARD-LOOKING STATEMENTS
This news release contains certain “forward-looking statements”. All statements, other than statements of historical fact that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements reflect the current expectations or beliefs of the Company based on information currently available to the Company. Such forward-looking statements include statements relating to the timing and results of the exploration program, including the potential expansion of mineralization, and the completion of necessary feasibility studies. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause the actual results to differ materially from those discussed in the forward-looking statements, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
1 Where used in this news release NiEq% = Ni%+ Cu% x $3.00/$8.00 + Co% x $12.00/$8.00 + Pt [g/t]/31.103 x $1,300/$8.00/22.04 + Pd [g/t]/31.103 x $700/$8.00/22.04 + Au [g/t]/31.103 x $1,200/$8.00/22.04
2 Where used in this news release CuEq% = Cu%+ Ni% x $8.00/$3.00 + Co% x $12.00/$3.00 + Pt [g/t]/31.103 x $1,300/$3.00/22.04 + Pd [g/t]/31.103 x $700/$3.00/22.04 + Au [g/t]/31.103 x $1,200/$3.00/22.04
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Tartisan Nickel Corp. (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA) (“Tartisan”, or the “Company”) is pleased to announce that the Company has concluded its normal course issuer bid (“NCIB”), under which the Company purchased a total of 4,869,300 of the Company’s common shares, which represented approximately 4.64 % of the issued and outstanding common shares of the Company.
Tartisan commenced the “NCIB” because it believed that the underlying value of the Kenbridge Nickel Project, along with the Company’s portfolio holdings, are not adequately reflected in the market price of its common shares. Tartisan Nickel Corp. believed that the repurchase of its common shares for cancellation represented an appropriate use of the Company’s financial resources and should enhance shareholder value in the long run.
The “NCIB” was initially announced on March 10, 2021 (SEDAR) and commenced on March 17, 2021. The “NCIB” expired/terminated on March 17, 2022. All common shares purchased under the “NCIB” were purchased on the open market through the facilities of the Canadian Securities Exchange (the “CSE”) and/or alternative trading systems. All purchases under the “NCIB” were made at the prevailing market price for the common shares at the time of purchase, and in total were at a combined average of price of approximately $0.41 cents per common share. Common shares acquired by the Company under the “NCIB” have all been cancelled. Tartisan Nickel Corp. had appointed Independent Trading Group (ITG) Limited as its broker to conduct the “NCIB” purchases on its behalf. There are currently 108,922,503 common shares issued and outstanding.
About Tartisan Nickel Corp.
Tartisan Nickel Corp. is a Canadian based mineral exploration and development company whose flagship asset is the Kenbridge Nickel Deposit located in the Kenora Mining District, Ontario. Tartisan also owns; the Sill Lake Silver Property in Sault St. Marie, Ontario as well as the Don Pancho Manganese-Zinc-Lead-Silver Project in Peru.
Tartisan Nickel Corp. owns an equity stake in; Eloro Resources Limited, Class 1 Nickel and Technologies Limited, Peruvian Metals Corp., New Break Resources Ltd., and Silver Bullet Mines Inc.
Tartisan Nickel Corp. common shares are listed on the Canadian Securities Exchange (CSE: TN) (OTCQX: TTSRF) (FSE: 8TA). Currently, there are 108,922,503 shares outstanding (120,218,018 fully diluted).
Dean MacEachern P. Geo. is the Qualified Person under NI 43-101 and has read and approved the technical content of this News Release.
For further information, please contact Mark Appleby, President & CEO, and a Director of the Company, at 416-804-0280 (info@tartisannickel.com). Additional information about Tartisan Nickel Corp. can be found at the Company’s website at www.tartisannickel.com or on SEDAR at www.sedar.com.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

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(TheNewswire)
Highlights:
A 1,494 line-km HELITEM survey outlined several high conductivity-thickness (CTP) zones characterised with elevated conductivity levels near the discovered gossan and along an interpreted 10 km-long folded amphibolite unit.
Based on these excellent results, a large exploration program is planned for summer 2022 at the Lac Brulé and Lac Brennan properties. Exploration works will include geological mapping and sampling, ground geophysical survey aimed at drilling priority targets by the fall of 2022. An existing vast network of forestry roads and bridges will greatly facilitate access for all our exploration works.
Montréal, Quebec TheNewswire – March 22, 2022 Sama Resource Inc. (“Sama” or the “Company”) (TSXV:SME ) | ( OTC:SAMMF) is pleased to report that Sama Resources Québec Inc. (” SRQ “) a fully owned subsidiary of the Company has announced the completion and interpretation of a HELITEM 2 electromagnetic and magnetic helicopter geophysical survey of 1,494 line-kilometres (line-km) at the new Lac Brulé nickel-copper property in the Province of Québec, Canada ( Figure 1 ).
A s a follow-up on the new gossan discovered in May 2021 (see Press Release 2021-06-16)* 1 , SRQ commissioned Xcalibur Multiphysics (MPH) Canada Inc. for a HELITEM 2 electromagnetic survey supplemented by a high-sensitivity cesium magnetometer. One block of claims (390 claims) was flown between December 5 and December 14, 2021. The survey coverage consisted of 1,374 km of traverse lines flown with a spacing of 200 and 100 metres (” m “) and 119 km of tie lines with a 2000 m spacing.
Figures 2 to 5 show Xcalibur’s final compilation outlining several high conductivity-thickness-product (” CTP “) areas grading 5 to 6 on the Conductivity Grade scale ( Table1 ). Highest Conductivity Grade and CTP, outlined by the late off-time channel/gates ( Figures 2 & 5 ), are located next to the discovered gossan. Figure 6 shows the rooted EM response down to 600 m from surface.  Detailed Interpretation and targets modeling will be performed by M. Joel Simard, P. Geol./Geoph based in St-Donat, Quebec province, Canada.
* 1 (Gossans are highly ferruginous rock which is the product of the oxidation by weathering and leaching of a sulfide body: Elsevier Mineral Exploration 2013)
While we are fully committed at exploring and developing our Ivorian Samapleu Ni-Cu-PGM assets with our partner Ivanhoe Electric, Sama is demonstrating its ability at finding new highly prospective grounds worldwide in totally virgin territories.” s aid Marc-Antoine Audet, Ph.D, P.Geo and CEO of Sama Resources Inc. Dr. Audet is continuing by saying ” SRQ’s 100% owned Lac Brulé project is only 5 hours driving north of Montreal, Québec Province, which greatly facilitate our upcoming explorations programs”
No historical prospecting or ground exploration had been reported from the Lac Brulé area prior to SRQ.
The past-producing Renzi nickel-copper mine is the closest mining activity with historical information available. The Renzi mine is located 48 km east-southeast of the Lac Brulé property. The Company is targetin g possible accumulations of Ni and Cu mineralisation at Lac Brulé that could be of similar nature to that at the Renzy mine, Voisey Bay Ni-Cu mine and at other well-known Ni-Cu deposits in Canada and worldwide.
Geophysical HELITEM 2 electromagnetic Program
The HELITEM 2 system is composed of a 40 m cable to which is attached the transmitter loop. The receiver platform and the receiver coil are located at the centre of the 35 m diameter transmitter loop approximately 0.1 m above the centre of the transmitter plane. The real time navigation GPS antenna is on the tail boom of the helicopter. The barometric altimeter, radar altimeter, laser altimeter, video camera and data recorder are all installed in the helicopter. GPS antennae are attached to the transmitter loop to give positional information and transmitter orientation.
The survey used a 7.5 Hertz (” Hz “) one half cycle of the HELITEM 2 system is made up of a square pulse (on-time) of approximately thirty-four milliseconds in duration followed by approximately thirty-four milliseconds of off-time before the pulse is repeated with the opposite polarity. After acquisition the measured data are windowed into twenty-five ranges called “gates”. Gate widths increase as time after turn-off increases because as the energy from the transmitter decays a wider sample must be taken to get a valid average. The position of the first off-time gate is selected after examining several flights of data and is as close to the transmitter turn off as possible. The power of the pulse causes eddy currents in the system after the turn off and the first off-time gate cannot start until these have died away. The earliest data has had less time to penetrate the subsurface and so contains information from the near surface. Detailed technical information on the survey is available on Sama’s website.
Xcalibur MPH selected electromagnetic (” EM “) anomalies automatically using proprietary software from both X and Z components using the fourth off-time gate and a threshold of 100 nT/s . These automatically generated anomalies were then examined in profile form for each line against the X & Z EM responses, decay information, magnetic responses, altimeter readings and flight path videos removing those not considered valid and adding additional anomalies missed by the threshold. For each anomaly the conductor type was interpreted and assigned to each anomaly. After reviewing all anomalies, the following parameters were associated with each anomaly using the data for the fourth off-time gate and where applicable: conductivity-thickness-product (CTP) ( Table 1 ), amplitude of EM response, last off-time channel with an anomalous response, time constant, apparent depth and dip.
Table 1:  Xcalibur’s MPH (proprietary) EM Anomaly characterisation (Conductor Grade and CTP)
( Fourth off-time gate and a threshold of 100 nT/s )



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Figure 1: SRQ’s Lac Brulé project is located 148 km West-Northwest of Mont-Laurier and 290 km Northwest of Montreal. The project area is located 5 hours driving north of Montreal. SRQ owns a second block of claims (Lac Brennan) overlying an isolated gravity high in prolongation of the “Renzi shear zone”. The old Renzy Ni-Cu mine operated from 1969 to 1972 selling nickel and copper concentrate to Falconbridge in Sudbury, Ontario.


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Figure 2: Apparent Conductivity: late off-time channel/gates showing several distinc high conductivity (CTP) areas. The composantes X and Z responses of the strong conductor (Conductor Grade: 5 and 6, see Table 1) located next to the surface gossan is also shown.


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Figure 3: Apparent Conductivity: early off-time channel/gates. The gossan location is shown with a star.


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Figure 4: Total Magnetic Intensity for the Lac Brulé project. The interpreted trace of amphibolite units is shown.


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Figure 5: EM Conductivity together with Conductor Classification defining two main sectors for follow-up: Gossan Zone and the North Zone.


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Figure 6: Differential conductivity: 600m depth slice.
2022 Exploration Program
SRQ will continue surface exploration at the Lac Brulé and Lac Brennan properties. Exploration works will include geological mapping and sampling, ground geophysical survey aiming at drilling priority targets by the fall of 2022. An existing vast network of forestry roads and bridges will greatly facilitate access for all our exploration works.
Readers are invited to view the updated Corporate Presentation showing exploration progress at all our properties : https://samaresources.com/i/pdf/Sama_Corporate_Presentation.pdf
The technical information in this release has been reviewed and approved by Dr. Marc-Antoine Audet, Ph.D geology, P.Geo and President and CEO of Sama, and a ‘qualified person’, as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT SAMA RESOURCES INC.
Sama is a Canadian-based mineral exploration and development company with projects in West Africa and now in Canada.
In Côte d’Ivoire only, Sama, has a strategic partnership to develop the Samapleu-Yepleu nickel-copper-palladium project with Ivanhoe Electric (previously HPX) of which mining entrepreneur Robert Friedland is a significant stakeholder. For more information about Sama, please visit Sama’s website at http://www.samaresources.com .
FOR FURTHER INFORMATION, PLEASE CONTACT:
SAMA RESOURCES INC./RESSOURCES SAMA INC.
Dr. Marc-Antoine Audet, President and CEO
Tel: (514) 726-4158
OR
Mr. Matt Johnston, Corporate Development Advisor
Tel: (604) 443-3835
Toll Free: 1 (877) 792-6688, Ext. 5
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Certain of the statements made and information contained herein are “forward-looking statements” or “forward-looking information” within the meaning of Canadian securities legislation. Forward-looking statements and forward-looking information such as “plan”, “evidence”, “potential”, “appears”, “seems”, “suggest”, are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or forward-looking information, including, without limitation, the availability of financing for activities, risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company’s expectations, metal price fluctuations, environmental and regulatory requirements, availability of permits, escalating costs of remediation and mitigation, risk of title loss, the effects of accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration or development, the potential for delays in exploration or development activities, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, expectations and beliefs of management and other risks and uncertainties.
In addition, forward-looking statements and forward-looking information are based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information or forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or forward-looking information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise.
Copyright (c) 2022 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia

(TheNewswire)
Vancouver, British Columbia TheNewswire – March 18, 2022 Xander Resources Inc. (“Xander” or the “Company”) (TSXV:XND) (OTC:XNDRF) (FSX:1XI) is pleased to report that the Ontario Ministry of Northern Development, Mines, Natural Resources, and Forestry has issued exploration drill permits for the Company’s Timmins Nickel Project.  The exploration drill permit will allow the Company to move forward on the following planned phase one drill program in 2022 following the closing of the private placement:
Completing a 10-hole, 2,500-metre core drilling program at its North Claim block.
Completing a 3-hole, 1,200-metre core drilling program at its South Claim block.
Amendment to Non-Brokered Private Placement and Extension
The Company also wishes to announce that further to its news release dated February 9, 2022 and subject to the approval of the TSX Venture Exchange (the ” Exchange “), it has amended the previously announced non-brokered private placement (the ” Private Placement “) as follows:
up to 14,285,714 units (the Units “) at $0.07 per Unit for gross proceeds of up to $1,000,000; and
up to 12,500,000 national flow-through units (the Flow-Through Units “) at a price of $0.08 per Flow-Through Unit for gross proceeds of up to $1,000,000.
Each Unit will consist of one common share of the Company (a ” Share “) and one transferable common share purchase warrant (a ” Warrant “) exercisable at $0.10 per Share for a period of three (3) years from the date of closing (the ” Expiry Date “). Each Flow-Through Unit will consist of one flow-through common share of the Company and one Warrant exercisable at a price of $0.10 per Share until the Expiry Date. The net proceeds from the Private Placement will be used for exploration at Xander’s Timmins Nickel Project (the ” Property “) and general working capital.
The Company has received an extension from the Exchange and the closing of the Private Placement is expected to occur on or before Friday, April 15, 2022. Completion of the Private Placement is subject to certain conditions, and receipt of all necessary regulatory approvals. The extension was obtained as it continues to work with IBK Capital Corp. to close the private placement.
All securities issued in the Private Placement are subject to the Exchange hold period, plus a hold period of four months and one day following the closing date of the Private Placement. Finder’s fees may be payable in accordance with the policies of the Exchange.
Option Cancellations
Effective March 1, 2022, the Company cancelled an aggregate of 319,021 options previously granted to certain consultants on May 4, 2020, October 22, 2021, October 29, 2021, November 4, 2021 and November 26, 2021 at exercise prices of $0.05, $0.135, $0.155, $0.17 and $0.195 per Share.
About Xander Resources Inc.
Xander Resources Inc. is a Canadian mineral acquisition and exploration company based in Vancouver, BC, Canada focused on developing accretive gold and battery metal properties within Canada. The company currently has a focus on projects located within the Provinces of Ontario and Quebec.
Xander is exploring for commercially exploitable mineral deposits and is currently focused on deposits located in Val-d’Or, Quebec, including the Senneville Claim Group which comprises over 100 sq. km and is contiguous in the south to Probe Metals’ new discovery, and contiguous in the north to Monarch Mining, in close proximity to Eldorado Gold’s (formerly QMX Gold) projects, and east of the North American Lithium Deposit, Great Thunder Gold‘s Chubb Lithium property and East of the Sayona Quebec’s Authier Lithium Deposit, all in the Val-d’Or Mining Camp, plus its newly acquired nickel-sulphide project in Timmins, Ontario near Canada Nickel’s MacDiarmid and Crawford Projects.
ON BEHALF OF THE BOARD OF DIRECTORS
Deepak Varshney, P.Geo., President and CEO
For more information, please email ir@xanderresources.ca , or visit www.xanderresources.ca .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements:
This news release includes “forward-looking information” under applicable Canadian securities legislation including, but not limited to, the anticipated closing of the Transaction and private placement. Such forward-looking information reflects management’s current beliefs and are based on a number of estimates and assumptions made by and information currently available to the Company that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Readers are cautioned that such forward-looking information are neither promises nor guarantees, and are subject to known and unknown risks and uncertainties including, but not limited to, general business, economic, competitive, political and social uncertainties, uncertain and volatile equity and capital markets, lack of available capital, actual results of exploration activities, environmental risks, future prices of base and other metals, operating risks, accidents, labour issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. There are no assurances that the Company will successfully complete the Transaction and the private placement on the terms contemplated or at all. All forward-looking information contained in this news release is qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
The Company is presently an exploration stage company. Exploration is highly speculative in nature, involves many risks, requires substantial expenditures, and may not result in the discovery of mineral deposits that can be mined profitably. Furthermore, the Company currently has no reserves on any of its properties. As a result, there can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements.
The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.  Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
Copyright (c) 2022 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia

Corazon Mining Limited (ASX:CZN) (Corazon or Company) is pleased to announce a new campaign of exploration drilling at its wholly owned Lynn Lake Nickel-Copper-Cobalt Sulphide Project (Lynn Lake or Project) in Manitoba Province, Canada.

Corazon’s exploration at Lynn Lake is focused on the Fraser Lake Complex (FLC), a large metal rich mafic intrusive body located approximately five kilometres from the historical Lynn Lake Mining Centre (Mining Centre) (Figure 1).

The upcoming phase of drilling is scheduled to commence this month and will test discrete pipe-like bodies (pipes) within the FLC. Geophysically these dense bodies are very similar to the spatially related ultramafic intrusives and massive sulphide deposits within the Mining Centre.

Recently completed detailed aerial gravity geophysics over the FLC (ASX announcement 17 January 2022) highlighted numerous pipes that are yet to be tested by drilling (Figure 2). These features are also apparent (to some degree) within the magnetic data and appear to come together to form a large body at depth within the centre of the FLC (Figure 3).

The potential for massive sulfide deposits to exist in close association with ultramafic lithologies within the extremely mineralised FLC, is a priority exploration focus for Corazon.

Click here for the full ASX release
This article includes content from Corazon Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

A week after nickel hit historic levels before being suspended, the London Metal Exchange (LME) resumed trading of the base metal, but halted electronic transactions once again soon after the market reopened.
Pointing to a technical issue, the 145-year-old exchange said on Wednesday (March 16) that its LMEselect platform allowed a small number of trades to be executed below the daily price limit of 5 percent that it has put in place. Nickel prices were trading at US$45,590 per tonne when the LME restarted nickel trading.
“All nickel trades executed on LMEselect at the lower daily price limit will remain,” the exchange said in a press release, adding that it is investigating the issue. “The small number of nickel trades executed on LMEselect below the lower daily price limit will be canceled.”
Nickel prices climbed to an unprecedented level of more than US$100,000 on March 8, up more than 250 percent in two days, largely on the back of a short squeeze. The largest-ever move seen on the LME was attributed to the massive short position held by Chinese tycoon Xiang Guangda, who controls the world’s largest nickel producer, Tsingshan Holding Group, and was facing billions of dollars in mark-to-market losses.
The exchange, which has now suspended nickel trading for the second time in its history, later canceled all transactions done on March 8. Following criticism for its decision, the LME defended the suspension of nickel trading saying the market had become “disorderly” and prices did not reflect the physical market.
On Monday (March 14), the exchange said it would resume trading of nickel, which it had suspended “against the backdrop of widely reported large short positions (originating primarily from the OTC market), combined with geopolitical news-flow and a background environment of low metal stocks.”
The call to restart the nickel market also came after China’s Tsingshan reached a standstill deal with banks, which agreed to not make margin calls on or close out the producer’s nickel positions on the LME.
“As an integral feature of the agreement, there is provision for the existing hedge positions to be reduced by the Tsingshan group in a fair and orderly manner as abnormal market conditions subside,” Tsingshan said.
Additionally, state-backed Shanghai Securities News said the Chinese company has signed a deal with two companies to swap its nickel products with a purer form of the metal, helping Tsingshan to close out its positions on the LME, Reuters reported. Tsingshan cannot trade its products, nickel matte and nickel pig iron, on the exchange, which only accepts nickel cathodes, pellets, briquettes and rounds for physical delivery.
On Wednesday, to prevent a chaotic nickel market reopening, the LME established a 5 percent trading limit above or below the last closing price before it halted trading. But nickel prices fell almost immediately.
“It is reasonable to expect volatility in the nickel price once trading recommences,” Andrew Mitchell, Wood Mackenzie’s director of nickel research, said in a note last week. “But for the sanctity of the metal, and indeed the LME, the new procedures need to find acceptance and work to prevent such a situation occurring in the future.”
Nickel is used mainly in stainless steel, but has been gathering attention for its use in electric vehicle batteries. Before the nickel market moves seen this past week, prices were already expected to remain strong, according to the nickel outlook from many analysts. Nickel stocks have also seen price gains so far this year.
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Securities Disclosure: I, Priscila Barrera, currently hold no direct investment interest in any company mentioned in this article.
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