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First Class Metals PLC (‘First Class Metals’ ‘FCM’ or the ‘Company’) the UK listed company focused on the discovery of economic metal deposits across its exploration properties in Ontario, Canada, is pleased to provide an update on preparations for the forthcoming drill programme at the Roy structure on the Sunbeam Property. Drill mobilisation has now been completed.

Highlights

  • 1,000m drill contract with provision for additional 500m signed with Forage PL (‘Forage’) drilling
  • Drill preparation commenced on the Roy structure at the Sunbeam property
  • First four drill collars have been marked.
  • Drill rig and supporting equipment on site
  • Drilling will focus on the Roy area of the Sunbeam property
  • Drilling will seek to prove depth continuity in the area of and along strike of the 18.8g/t gold (Au) channel sample from the stripping
  • Emerald Geological Services (‘EGS’) will supervise drill preparation, the day-to-day drilling as well as core logging and sampling

Marc J. Sale CEO First Class Metals Commented:

‘The mobilisation of the drill rig to Roy and the anticipation of drilling starting this weekend marks an important step forward in advancing the Sunbeam Property. Forage has recently completed a programme in the district and brings both local experience and a strong operational reputation.

The rapid progression from planning to mobilisation at Sunbeam demonstrates that FCM is a company focused on delivery. Having recently completed drilling at North Hemlo and now positioning to commence at Sunbeam, we are advancing our exploration strategy in a disciplined and systematic manner.

The Roy trend represents a robust mineralised structure of district scale in a geological environment know to host significant resources.’

Figure 1 showing the stripped area at Roy which returned 18.8g/t Au and will be the focus of the drilling.

Qualified Person

The technical disclosures contained in this announcement have been drafted in line with the Canadian Institute of Mining, Metallurgy and Petroleum standards and guidelines and approved by Marc J. Sale, who has more than 30 years in the gold exploration industry and is considered a Qualified Person owing to his status as a Fellow of the Australian Institute of Mining and Metallurgy.

For Further Information:

Engage with us by asking questions, watching video summaries, and seeing what other shareholders have to say. Navigate to our Interactive Investor hub here:

www.firstclassmetalsplc.com

For further information, please contact:

James Knowles, Executive Chair
Email: JamesK@Firstclassmetalsplc.com
Tel: 07488 362641

Marc J Sale, CEO
Email: MarcS@Firstclassmetalsplc.com
Tel: 07711 093532

Novum Securities Limited (Financial Adviser)
David Coffman

Website: www.novumsecurities.com
Tel: (0)20 7399 9400

Axis Capital Markets (Broker)
Lewis Jones

Website: Axcap247.com
Tel: (0)203 026 0449

First Class Metals PLC Background

First Class Metals listed on the LSE in July 2022 and is focused on metals exploration in Ontario, Canada which has a robust and thriving junior mineral exploration sector. In particular, the Hemlo ‘camp’ near Marathon, Ontario is a proven world class address for gold exploration, featuring the Hemlo gold deposit operated by Barrick Mining (>23M oz gold produced), with the past producing Geco and Winston Lake base metal deposits also situated in the region.

FCM currently holds 100% ownership of seven claim blocks covering over 250km² in northwest Ontario. A further three blocks are under option and cover an additional 30km2.FCM is focussed on exploring for gold but has base metals and critical metals mineralisation. FCM is maintaining a joint venture with GT Resources on the West Pickle Lake Property a drill-proven ultra-high-grade Ni-Cu project.

The flagship properties, North Hemlo and Sunbeam, are gold focussed. North Hemlo has a significant discovery in the Dead Otter trend which is a discontinuous 3.5km gold anomalous trend with a 19.6g/t Au peak grab sample. This sampling being the highest known assay from a grab sample ever recorded on the North Limb of Hemlo.

In October 2022 FCM completed the option to purchase the historical high-grade past-producing Sunbeam gold mine near Atikokan, Ontario, ~15 km southeast of Agnico Eagle’s Hammond Reef gold deposit (3.3 Moz of open pit probable gold reserves).

FCM acquired the Zigzag Project near Armstrong, Ontario in March 2023. The property features Li-Ta-bearing pegmatites in the same belt as Green Technology Metals’ Seymour Lake Project, which contains a Mineral Resource estimate of 9.9 Mt @ 1.04% Li2O. Zigzag was successfully drilled prior to Christmas 2023 and results have now been released.

The Kerrs Gold property, acquired under option by First Class Metals in April 2024, is located in northeastern Ontario within the Abitibi Greenstone Belt, one of the world’s most prolific gold-producing regions. The project holds a historical inferred resource of approximately 386,000 ounces of gold, underscoring its potential as a meaningful addition to FCM’s expanding gold portfolio. Kerrs Gold complements the Company’s exploration strategy and provides exposure to a well-established mining district. FCM is currently reviewing plans to advance the project and further unlock its value.

The significant potential of the properties for precious, base and battery metals relates to ‘nearology’, since all properties lie in the same districts as known deposits (Hemlo, Hammond Reef, Seymour Lake), and either contain known showings, geochemical or geophysical anomalies, or favourable structures along strike from known showings (e.g. the Esa project, with an inferred Hemlo-style shear along strike from known gold occurrences).

For further information see the Company’s presentation on the web site:

www.firstclassmetalsplc.com

Forward Looking Statements

Certain statements in this announcement may contain forward-looking statements which are based on the Company’s expectations, intentions and projections regarding its future performance, anticipated events or trends and other matters that are not historical facts. Such forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements sometimes use words such as ‘aim’, ‘anticipate’, ‘target’, ‘expect’, ‘estimate’, ‘intend’, ‘plan’, ‘goal’, ‘believe’, or other words of similar meaning. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

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Saga Metals Corp. (‘SAGA’ or the ‘Company’) (TSXV: SAGA,OTC:SAGMF) (OTCQB: SAGMF) (FSE: 20H), a North American exploration company focused on critical mineral discoveries, is pleased to provide a further operational update on its ongoing 2026 phase of the maiden Mineral Resource Estimate (‘MRE’) diamond drill program at the Trapper Zone within the 100%-owned Radar Titanium-Vanadium-Iron Project near Cartwright, Labrador, Canada.

Drill Program Highlights

  • Completed ten (10) holes (R-0016 to R-0025) with significant oxide intercepts ranging from 46.1 m to 111.67 m, predominantly semi-massive oxide with extensive rhythmic layering.
  • Multiple holes intercepted broad zones of semi-massive oxide up to 87.08 m, confirming increased oxide concentration and thickness in the southeastern anomaly.
  • Quick logs indicate oxide zones from R-0023 through R-0026 are increasing in thickness with a potential average of 100 m in each of the holes.
  • Rhythmic banding and semi-massive to massive oxide mineralization observed consistently, aligning with prior high-grade results from Trapper North.
  • Drilling progressing efficiently, with the eleventh (11) hole (R-0026) nearing completion.
  • The 209 samples from R-0016 and -0017 were received by Impact Global Solutions (IGS) Laboratory in Montreal, Quebec, on February 14, 2026, and assays are expected in about 1 week.
  • 350 samples from R-0018, -0019 and -0020 have been prepared for shipping to IGS at the end of the week.

Further to the Company’s news release dated February 12, 2026, the team has completed ten (10) diamond drill holes with depths ranging from 149 m to 275 m, totalling 2,039 m drilled, targeting the southeastern and southwestern oxide anomalies in Trapper South.

Detailed Drill Hole Summary (R-0016 to R-0025)

Drill Hole Azimuth / Dip Total Depth (m) From (metres) To (metres) Semi-Massive Oxide (m) Rhythmic Layering (m) Total Oxide (m)
R-0016 38° / -45° 206 44 102 45.84 12.16 58
R-0017 38° / -70° 161 50.56 140.64 87.08 3 90.08
R-0018 38° / -45° 188 44.7 156.37 65.04 46.63 111.67
R-0019 38° / -45° 182 66.55 133 37.96 28.49 66.45
R-0020 38° / -45° 206 50.8 138 28.5 58.7 87.2
R-0021 38° / -70° 152 81.28 127.38 33.53 12.57 46.1
R-0022 38° / -45° 149 22.51 118.69 31.58 59.68 91.26
R-0023 38° / -45° 272 100.48 239.32 30.61 76.44 107.05
R-0024 38° / -45° 248 Logging in-progress
R-0025 38° / -60° 275 Logging in-progress
  Total (m) 2,039          

Table 1: Summary of drill holes R-0016 to R-0025, highlighting the oxide intercepts. Logging of R-0024 & -0025 is in progress. See Figure 1 below which depicts the oxide mineralization in a longitudinal section looking SW showcasing holes R-0016, -0018, -0019, -0020 and -0022.

Figure 1

Figure 1: Longitudinal section of drill holes R-0016, -0018, -0019, -0020 and -0022 highlighting about 700 m strike of semi-massive oxides and rhythmic layering with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey.

The oxide zones in holes R-0016, -0018, -0019, -0020 and -0022 shown in the longitudinal section ‘CC’ (Figure 1 above) highlights about 700 m strike of continuous semi-massive and rhythmic oxide layering.

Early observations indicate the overall average thickness of the oxide horizons in these drill holes have significantly increased to about 100 m thick in addition to a notable increase in semi-massive oxides compared to previous holes. Current logging data indicate that R-0023 (30.58 m), R-0024 (more than 17.18 m; based on quick logs), and R-0026 (up to 13 m; based on quick logs) have thicker semi-massive oxide zones than R-0015 (4.52m). The attitude of the oxide horizons is consistent from all logged holes, striking SE and dipping west.

Notable intercepts (see Table 1 above) include 111.67 m of oxide in R-0018 (including 65.04 m semi-massive), 107.05 m in R-0023 (including 76.44 m rhythmic layering) 91.26 m in R-0022 (with 59.68 m rhythmic layering) 90.08 m in R-0017 (including 87.08 m semi-massive), 87.2 m in R-0020 (with 58.7 m rhythmic layering), 66.45 m of oxides in R-0019, and 58 m in R-0016. R-0024 and -0025 are currently being logged and are expected to be reported shortly.

These holes continue to demonstrate extensive rhythmic oxide layering and semi-massive mineralization, hallmarks of the high-grade oxide sequences observed across the project. The drill rig has continued along the southwestern oxide anomaly in Trapper South and is active on drill hole R-0026.

Figure 2

Figure 2: Cross section of S8 looking NW showing R-0016, -0017, -0023 and -0026, highlighting intercepts of semi-massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Drilling of R-0026 is in progress with logging to follow.

Figure 3

Figure 3: Cross section of S7 looking NW showing R-0018, -0024 and -0025 highlighting intercepts of semi massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey. Logging of R-0024 and -0025 is in progress.

Figure 4

Figure 4: Cross section of S5 looking NW showing R-0020 and -0021 highlighting intercepts of semi massive oxides and layering sequence with the 3D Magnetic Inversion of the 2025 Trapper Zone ground magnetic survey.

Michael Garagan, CGO & Director of Saga Metals, commented: ‘Drilling continues to advance at an outstanding pace, with ten holes now completed totaling over 2,000 meters and oxide mineralization confirmed in every logged interval. The southeastern anomaly at Trapper South is delivering increasingly thick zones—quick logs suggest averages approaching 100 m in the deeper holes R-0023 through R-0026—with notably higher proportions of semi-massive oxide compared to earlier intercepts. This growing consistency in thickness, continuity, and semi-massive character across about 700 m strike reinforces our strong confidence in the scale and quality of the oxide horizons here. Having wrapped up the southeastern targets with R-0022, we’re now focused on the southwestern anomaly, systematically building the dataset needed for our maiden Mineral Resource Estimate while unlocking the full potential of Trapper South.’

With sampling of drill holes R-0018, -0019 and -0020 completed, a total of 350 samples have been prepared and will be shipped to Impact Global Solutions (IGS) Laboratory in Montreal, Quebec at the end of the week. IGS received the 209 samples from R-0016 and -0017 on February 14, 2026, and have confirmed assays are expected within about 1 week. Teams are actively logging and sampling all completed holes, with shipment of additional samples to continue at a pace of approximately every couple of weeks. Assay results from these holes are pending and will be released as they become available. The Company remains on track with its systematic MRE drill program across the Trapper Zone.

Figure 5

Figure 5: Trapper Zone map outlining location of the initial 2026 focus for the remainder of the MRE drill program to be completed in 2026, including cross-sections N11, S11, S8, S7, S6, S5, S4 and longitudinal section CC, showing the TMI of the 2025 Trapper Zone ground magnetic survey.

Key Project Highlights:

  • Confirmed mineralization in 25 out of 25 drill holes completed and observed in two primary zones to date.
  • Analytical results to date include numerous oxide-rich intercepts, including:
                 
  DDH FROM TO Length Fe2O3 TiO2 V205  
  ID m m m % % %  
  R-0009 94 181.2 87.20 50.67 10.15 0.339  
  R-0008 170 237.6 68.26 46.15 9.21 0.311  
  R-0010 1.5 137 135.50 50.03 7.87 0.352  
  R-0015 73.3 174 100.70 38.56 6.80 0.229  
  R-0011 58.1 153.3 95.15 39.49 6.49 0.222  
  R-0014 8.8 50 41.20 36.17 6.36 0.188  
  R-0007 147.5 205.2 57.70 27.09 5.31 0.365  
                 

Table 2: Top 7 intercepts from the 2025 drilling programs at both Trapper and Hawkeye Zones

  • Infrastructure including road access, deep-water port, nearby hydro-electric power and airstrip.
  • Confirmed the 16+ km oxide layering trend that stretches from the Hawkeye Zone to the Trapper Zone.
  • Exceptional grades and thicknesses with semi-massive to massive oxide reporting up to 64.55% Fe,13.3% TiO2, and 0.66% V2O5.
  • Petrographic analysis confirms titanomagnetite mineralization is advantageous for simplified metallurgical processing.

About the Radar Critical Mineral Property in Labrador

The Radar Property spans 24,175 hectares and hosts the entire Dykes River intrusive complex (~160 km²), a unique position among Western explorers. Geological mapping, geophysics, and trenching have already confirmed oxide layering across more than 20 km of strike length, with mineralization open for expansion.

Figure 6

Figure 6: Radar Property map, depicting magnetic anomalies, oxide layering and the site of the 2025 drill programs. The Property is well serviced by road access and is conveniently located near the town of Cartwright, Labrador. A compilation of historical aeromagnetic anomalies is overlaid by ground-based geophysics, as shown.

Vanadiferous titanomagnetite (‘VTM’) mineralization at Radar is comparable to global Fe–Ti–V systems such as Panzhihua (China), Bushveld (South Africa), and Tellnes (Norway), positioning the Project as a potential strategic future supplier of titanium, vanadium, and iron to North American markets.

Figure 7

Figure 7: Radar Project’s prospective oxide layering zone validated over about 16 km strike length through Fall 2025 drilling, as shown on a compilation of historical airborne geophysics as well as ground-based geophysics in the Hawkeye and Trapper zones completed by SAGA in the 2024/2025 field programs. SAGA has demonstrated the reliability of the regional airborne magnetic surveys after ground-truthing and drilling in the 2024 and 2025 field programs.

Upcoming Events

Saga Metals will be attending the Prospectors & Developers Association of Canada (PDAC) Conference in Toronto, Ontario, from March 1 – 4, 2026.

For further information, questions, or to arrange a meeting with Management during the Convention, please call Rob Guzman, Investor Relations at Saga Metals Corp.

Tel: +1 (844) 724-2638
Email: rob@sagametals.com

Qualified Person
Paul J. McGuigan, P. Geo., is an Independent Qualified Person as defined under National Instrument 43-101 and has reviewed and approved the technical information disclosed in this news release.

About Saga Metals Corp.

Saga Metals Corp. is a North American mining company focused on the exploration and discovery of a diversified suite of critical minerals that support the North American transition to supply security. The Radar Ti-V-Fe Project comprises 24,175 hectares and entirely encloses the Dykes River intrusive complex, mapped at 160 km² on the surface near Cartwright, Labrador. Exploration to date, including 4,250 m of drilling, has confirmed a large, mineralized layered mafic intrusion hosting vanadiferous titanomagnetite (VTM) and ilmenite mineralization with strong grades of titanium and vanadium.

The Double Mer Uranium Project, also in Labrador, covers 25,600 hectares and features uranium radiometrics that highlight an 18km east-west trend, with a confirmed 14km section producing samples as high as 0.428% U3O8. Uranium uranophane was identified in several areas of highest radiometric response (2024 Double Mer Technical Report).

Additionally, SAGA owns the Legacy Lithium Property in Quebec’s Eeyou Istchee James Bay region. This project, developed in partnership with Rio Tinto, has been expanded through the acquisition of the Amirault Lithium Project. Together, these properties cover 65,849 hectares and share significant geological continuity with other major players in the area, including Rio Tinto, Winsome Resources, Azimut Exploration, and Loyal Metals.

With a portfolio spanning key commodities critical to the clean energy future, SAGA is strategically positioned to play an essential role in critical mineral security.

On Behalf of the Board of Directors

Mike Stier, Chief Executive Officer

For more information, contact:

Rob Guzman, Investor Relations
Saga Metals Corp.
Tel: +1 (844) 724-2638
Email: rob@sagametals.com
www.sagametals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Disclaimer
This news release contains forward-looking statements within the meaning of applicable securities laws that are not historical facts. Forward-looking statements are often identified by terms such as ‘will’, ‘may’, ‘should’, ‘anticipates’, ‘expects’, ‘believes’, and similar expressions or the negative of these words or other comparable terminology. All statements other than statements of historical fact, included in this release are forward-looking statements that involve risks and uncertainties. In particular, this news release contains forward-looking information pertaining to the Company’s Radar Project. 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. Important factors that could cause actual results to differ materially from the Company’s expectations include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage, inherent risks and uncertainties involved in the mineral exploration and development industry, particularly given the early-stage nature of the Company’s assets, and the risks detailed in the Company’s continuous disclosure filings with securities regulations from time to time, available under its SEDAR+ profile at www.sedarplus.ca. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will update or revise publicly any of the included forward-looking statements only as expressly required by applicable law.

Photos accompanying this announcement are available at 

https://www.globenewswire.com/NewsRoom/AttachmentNg/e86ccae1-3aca-4134-9a78-4a4a72d81cbe

https://www.globenewswire.com/NewsRoom/AttachmentNg/6e4d4609-4e33-45a8-87dc-f535eb7ea9ee

https://www.globenewswire.com/NewsRoom/AttachmentNg/89954161-14d0-440f-98ed-3802ee25294c

https://www.globenewswire.com/NewsRoom/AttachmentNg/a6c22fb9-a241-4823-8071-ad389e0294e8

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One Bullion Ltd. (‘One Bullion’ or the ‘Company’) (TSXV: OBUL,OTC:OBULF), a gold exploration company holding complete ownership of three highly prospective mining areas in Botswana, today announced that management will host a booth at PDAC 2026, The World’s Premier Mineral Exploration & Mining Convention, taking place March 1-4, 2026, in Toronto, Canada.

PDAC 2026 Booth Details:
Date: March 3-4, 2026
Location: Metro Toronto Convention Centre, Toronto, Ontario
Booth Number: 2213B

To schedule a one-on-one meeting with One Bullion’s management team, please email KCSA Strategic Communications at OneBullion@kcsa.com.

Market Maker Agreement
The Company also wishes to provide additional disclosure regarding the agreement (the ‘Agreement’) for market making services which it has entered into with Independent Trading Group (ITG), Inc. (‘Independent’), as previously announced on January 27, 2026. The Company shall pay a fee to Independent of Cdn$5,500 per month pursuant to the Agreement, which shall be payable on the first business day of each month. The authorized individual who will be providing the services of Independent pursuant to the Agreement is Mr. Mike Paul Garner. Neither Independent nor any of its principals have any interest, direct or indirect, in the Company or any of its securities. The Agreement remains subject to the approval of the TSX Venture Exchange.

About One Bullion
One Bullion Ltd. is a Toronto-based gold exploration company focused on advancing high-quality gold assets in Botswana, one of Africa’s most stable and mining-friendly jurisdictions. Established in 2018, the company controls approximately 8,004 km² of prospective land across three greenstone belt-hosted gold projects, including Vumba, Kraaipan, and Maitengwe. One Bullion’s strategy centers on disciplined, data-driven exploration — combining modern geological methods with advanced targeting to identify and test high-priority gold targets — while maintaining a commitment to environmental stewardship, community engagement, and long-term value creation for stakeholders.

Contact Information:
Adam Berk, Chief Executive Officer
T: 917-690-7556

Investor Contact:
KCSA Strategic Communications
Jack Perkins or Valter Pinto
T: 212-896-1254
OneBullion@kcsa.com

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Randy’s Pit Extended 25 Metres to the Northwest with 20.6 Metres At 0.64 g/t Gold and 50 Metres to the Southeast with 6.58 g/t Gold over 4 Metres

Sranan Gold Corp. (CSE: SRAN,OTC:SRANF) (OTCQB: SRANF) (FSE: P84) (Tradegate: P84) (‘Sranan’ or the ‘Company’) announces assay results from its ongoing 2026 diamond drilling program currently focused on the Randy’s Pit target. These results continue to extend Randy’s Pit gold mineralization with significant near-surface assay results returned (Table 1). Randy’s Pit lies along the +4.5-kilometre Poeketi Shear Zone (‘PSZ’) which represents one shear zone on Sranan’s 29,000-hectare Tapanahony Gold Project.

Drill hole 26RADD-023 encountered 30 metres (‘m’) of 0.67 grams per tonne gold (‘g/t Au’) starting at 99 m downhole and including a one metre interval assaying 12.53 g/t Au from 106 m. The hole was designed to test the up-dip extension of the significant mineralization intersected at depth in holes 25RADD-013 and 25RADD-004, successfully assessing the vertical continuity within the established PSZ (Figure 2). In drill hole 26RADD-021, an interval of 4 metres averaged 6.58 g/t Au, including one metre grading 21.8 g/t Au. Hole 26RADD-022 contained a 20.6 m interval of 0.64 g/t Au starting from surface. Drill hole 26RADD-020 tested the structural and mineralized gap between the northern and southern portions of the Randy’s Pit target. The mineralization intersected in this hole correlates well with mineralization encountered in the southernmost drill holes, supporting structural continuity across the target area.

Table 1: Mineralized intercepts drilled by Sranan

Hole ID From To Interval* Au
(metres) (g/t)
26RADD-020 51.0 61.5 10.5 0.41
72.0 74.7 2.7 0.96
26RADD-021 115.0 119.0 4.0 6.58
Including 115.0 116.0 1.0 21.80
Including 118.0 119.0 1.0 3.97
26RADD-022 0.0 20.6 20.6 0.64
6.5 16.6 10.1 0.96
114.0 119.0 5.0 2.24
Including 114.0 117.0 3.0 3.42
26RADD-023 99.0 107.0 8.0 1.73
Including 106.0 107.0 1.0 12.53
125.0 155.0 30.0 0.67
Including 150.0 153.0 3.0 3.78
185.0 191.0 6.0 0.67

 

*Intervals are composited at a 0.3 g/t Au cut-off with internal dilution up to 10 m tolerated. Widths shown are downhole intervals and may not represent true widths. True widths are unknown.

The PSZ, which hosts the known gold mineralization at Randy’s Pit, is a mylonitic shear zone cutting folded and strained basalt​. At Randy’s Pit, the PSZ is an oblique dextral reverse shear zone​ with the main higher-grade mineralization plunging northwest along the shear fabric​. PSZ shows progressive strain with pre and post shear extensional vein sets​ and visible gold often seen on shear planes in the core.

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Figure 1. Randy’s Pit Drill Assay Plan – Highlighting Results from Holes 26RADD-020 to 26RADD-023

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Figure 2. Randy’s Pit Section 455430 N – Highlighting the Relationship Between 26RADD-23 and earlier holes 25-RADD-04 and 25 RADD-013

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Table 2: Drill Hole Locations from This Release

Hole ID UTME 
(m)
UTMN 
(m)
Elevation 
(m)
Azimuth 
(°)
Dip
(°)
Depth
(m)
26RADD-020 766406 455299 155.7 90 -45 131
26RADD-021 766408 455151 153.7 90 -45 197
26RADD-022 766341 455497 144.4 90 -60 152
26RADD-023 766273 455435 123.1 90 -50 326

 

Dr. Dennis J. LaPoint, Executive Vice President of Exploration and Business Development, notes that the current drilling is progressing well with positive drill results and efficient drilling. ‘We are expanding the Randy’s Pit target to the north with trenching and drilling and the PSZ continues to be a well mineralized gold system with multiple ore shoots, high grades, favorable widths at shallow depths and frequent visible gold seen in core. Further drilling will extend to depth and to the south.’

Samples were prepared and assayed by Filab in Paramaribo, Suriname. All samples >2 g/t were re-assayed with 50 gm re-assay and gravimetric assay. Standard QA/QC procedures were followed and showed a satisfactory level of reproducibility. The Company notes that the drill intercepts may not represent true underlying mineralization as core sample intervals are used. Core logging and photography and sampling are completed under industry standard QA/QC protocols (Oreas certified reference materials, assayed coarse blanks, duplicates of core).

Qualified Person

Dr. Dennis J. LaPoint, Ph.D., P.Geo., a ‘qualified person’ as defined under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this release. Dr. LaPoint is not independent of Sranan Gold, as he is the Company’s EVP of Exploration and Corporate Development.

About Sranan Gold Corp.

Sranan is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname. The Company’s flagship Tapanahony Project covers 29,000 hectares in one of Suriname’s most prolific artisanal gold mining districts and Sranan recently announced the acquisition of the 18,468-hectare Lawatino Project situated in southeastern Suriname along the Central Guiana Shear Zone.

For additional information, please visit www.sranangold.com.

Contact Information:

Oscar Louzada, CEO
+31 6 25438975

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

Forward-looking Statements

Certain statements in this release constitute ‘forward-looking statements’ or ‘forward-looking information’ within the meaning of applicable securities laws including, without limitation, the timing, nature, scope and details regarding the Company’s exploration plans and results at its projects. Such statements and information involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, its projects, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as ‘may’, ‘would’, ‘could’, ‘will’, ‘intend’, ‘expect’, ‘believe’, ‘plan’, ‘anticipate’, ‘estimate’, ‘scheduled’, ‘forecast’, ‘predict’ and other similar terminology, or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results and speak only as of the date of this release. Further details about the risks applicable to the Company are contained in the Company’s public filings available on SEDAR+ (www.sedarplus.ca), under the Company’s profile.

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

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Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; ‘BRW’ or the ‘Company’) is pleased to announce it has identified three new high priority lithium targets (area A, B and C in Figure 1) at the Anatacau Main Project, where drilling is currently underway, located in the Eeyou-Istchee James Bay region of Quebec. The Project is strategically situated 22 kilometers east and along strike of a major proven lithium-bearing structural corridor also hosting Rio Tinto’s Galaxy Project and Brunswick’s Anatacau West Project.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Anatacau is rapidly proving to be one of the most exciting projects in our portfolio alongside Mirage with the addition of these seven potential spodumene showings within larger packages of highly evolved and favorable pegmatites. These high priority targets were the result of additional compilation work in preparation for the ongoing drill program and highlight the significant exploration potential of the Project. Following the drill program at Anais, Brunswick will commence a major prospecting campaign to rapidly evaluate these new targets once ground conditions permit field activities.’

Figure 1: Anatacau Project Location

Anatacau Project Location

Anais Discovery Targets

Between two and five kilometers south of the Anais showing where the Company is currently drilling, three unverified spodumene showings were identified through compilation work. These showings significantly expand the exploration potential surrounding the Anais discovery (area A in Figure 1). Over 200 pegmatite outcrops have been identified through satellite imagery in this area with the largest measuring approximately 500 by 200 meters.

Newly Staked Targets

Contiguous and located immediately west to the Anatacau Main Project, BRW recently completed staking covering an additional three unverified spodumene showings and 150 pegmatite outcrops (area B in Figure 1). The largest identified outcrop measures 800 by 100 meters. It is possible that the potential spodumene showings, alongside the southern most targets in area A, form a new secondary trend to the lithium-bearing structural corridor hosting Rio Tinto’s Galaxy Project and Brunswick’s Anais showing.

Pontax Trend Targets

The Pontax trend is an emerging major NE–SW regional lithium-bearing structural corridor extending over 20 kilometers across the southern portion of the Anatacau Property. Brunswick Exploration has identified over 13 highly fractionated pegmatites with highly favorable K/Rb ratios (below 30 and as low as 14) and mineralogy within the Pontax trend (area C in Figure 1) within over 90 pegmatite outcrops where the largest visible outcrop measures approximately 200 by 50 meters. These high priority targets neighbor one potential spodumene showing controlled by BRW. This corridor continues to the southwest where it hosts Cygnus Metals’ Pontax Lithium Project and Li-FT Power’s Pontax Project.

Figure 2: BRW Quebec Portfolio

BRW Quebec Portfolio

Qualified Person

The scientific and technical information related to this press release has been reviewed and approved by Mr. Francois Goulet, Manager Quebec. He is a Professional Geologist registered in Quebec.

About Brunswick Exploration Inc.

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada, Greenland and Saudi Arabia underpinned by its Mirage project, one of the largest undeveloped hard-rock lithium Inferred Mineral Resource Estimate in the Americas, with 52.2Mt grading 1.08% Li2O.

Investor Relations/information

Mr. Killian Charles, President and CEO

Phone: 514 861 4441

Email: info@BRWexplo.com

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

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/6985a3b1-4935-444b-bd32-c2e863c7589d

https://www.globenewswire.com/NewsRoom/AttachmentNg/cf443a7e-9e6b-4d60-8c42-a6a800621327

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Palisades Goldcorp Ltd. (TSXV: PALI) (the ‘Company’ or ‘Palisades’) is pleased to announce that its subsidiary, Made in America Gold Corp. (‘MIAG’), has successfully completed the acquisition of Undercover Gold Inc. (‘Undercover’), for the South Cortez and South Tonkin properties. Undercover was founded by NewQuest Capital Inc. (‘NewQuest’) which is led by an industry-recognized exploration team that has structured numerous earn-in joint venture deals with major mining companies across a global portfolio of exploration projects. Property details for MIAG’s ten district-scale projects can be found on the new company website, madeinamericagold.com.

The newly acquired properties target classic Carlin-type gold mineralization within the Lower Plate of the Robert’s Mountain thrust, a geological setting synonymous with Nevada’s largest discoveries. While the Cortez district has a long history of production, the South Cortez and South Tonkin blocks remain remarkably under-explored, particularly at depth. Existing technical data, including seismic and aeromagnetic surveys, and historical drilling, indicates that favorable lower-plate host rock stratigraphy resides at accessible depths of less than 400 meters. MIAG is now positioned to leverage an extensive database to test high-priority targets that have seen limited exploration compared to neighboring major-operated land packages.

Justin Daley, CEO of MIAG, stated: ‘The closing of the South Cortez and South Tonkin acquisition marks a transformative milestone for MIAG. By integrating these projects into our portfolio, we are easily the biggest junior company landholder in Nevada, controlling roughly 800 km² of the state’s most productive and prospective gold trends. These projects don’t just add acreage, they represent newly consolidated claim groups just six kilometers south of the Tier 1 Goldrush and Fourmile deposits. With favorable lower-plate geology confirmed at shallow depths and a wealth of historic data already in hand, we are positioned to unlock value in part of a district that has already proven to host 10-million-ounce-plus deposits. Our focus now shifts to integrating data, advancing our own exploration programs, and delineating high-priority targets that have remained under-explored for far too long.’

South Cortez and South Tonkin Projects

MIAG’s acquisition of the South Cortez and South Tonkin mineral properties expands its Battle Mountain–Eureka portfolio by approximately 73 km2, further establishing the entity as the biggest junior mineral claim holder in Nevada. These properties are located along trend with world-class deposits including Pipeline, Cortez Hills, and Goldrush, which have collectively produced or contain over 60 million ounces of gold*. MIAG now controls ~800 km², with each project adjacent to major deposits and mines operated by Nevada Gold Mines, SSR Mining, McEwen Mining and I-80 Gold, (see Figure 1).

Figure 1: Location of the South Cortez and South Tonkin claim groups and neighbouring gold deposit and mine footprints within the Battle Mountain Trend in Nevada. Gold production and resources are from publicly available documents referenced below. (CNW Group/Palisades Goldcorp Ltd.)

 

* ‘Technical Report on the Cortez Complex, Landers and Eureka (NI 43-101)’ – dated 31 December 2021, ‘Nevada Gold Mines Investor Day 2021 — Resources (inclusive of reserves) and reserves summary’, ‘Barrick Annual Report 2024 – Mineral Reserves & Resources, attributable gold reserves of 89 million ounces at 2.71 g/t in North America region’, and ‘Fourmile 2025 Preliminary Economic Assessment Summary of Results.’

Transaction Terms

MIAG and Undercover entered into a definitive share purchase agreement pursuant to which MIAG acquired all the outstanding shares of Undercover, subject to customary terms and conditions for a transaction of this nature, including acceptance by the TSX Venture Exchange, and other standard closing deliverables set out in the definitive agreement. As consideration, Undercover shareholders received a total of 1,642,710 common share of MIAG, representing 10% equity interest in MIAG upon closing. The transaction closed on February 18, 2026.

All existing royalties and option agreements related to the South Cortez and South Tonkin properties remained in place. In addition, certain claims within the South Cortez and South Tonkin claim blocks that are 100% owned by Undercover are subject to a 1.75% net smelter royalty (‘NSR‘) retained by NewQuest.

Immediately before the transaction closing, Palisades put in place and retained a 1.75% NSR on all 100% owned MIAG claims and projects (excluding South Cortez and South Tonkin) by forming a new subsidiary to hold such NSR interests for the sole benefit of Palisades shareholders. Additionally, the 3.0% NSR on Nevada King Gold Corp.’s Atlanta Gold Mine Project previously held by Palisades in the MIAG entity was transferred to the newly formed subsidiary for the sole benefit of Palisades shareholders.

Qualified Person

The scientific and technical information contained in this news release has been reviewed and approved by Justin Daley, P.Geo., who is a ‘Qualified Person’ as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Qualified Person has verified the data disclosed herein to the extent possible, including reviewing publicly available information and technical documentation. No independent sampling, analytical or site verification has been undertaken at this stage.

About Palisades Goldcorp Ltd.

Palisades Goldcorp Ltd. is a resource investment company focused on junior companies in the resource and mining sector. Palisades seeks to acquire equity participation in pre-initial public offering and early-stage public resource companies with undeveloped or undervalued high-quality projects. Palisades focuses on companies that are in need of financial resources to realize their full potential, are undervalued in capital markets, and/or operate in jurisdictions with low to moderate local political risk. Palisades expects to continue to make investments, pursuant to its dual investment strategy, to achieve broad sector exposure with upside in the event of appreciation in mineral commodities prices, while also providing the potential to realize appreciation in net asset values as a result of discoveries by issuers in which Palisades holds larger positions. Palisades is listed on the TSXV under the stock symbol ‘PALI’. Palisades holds a diverse portfolio of securities and derivatives, among which it holds a 9% interest in New Found Gold Corp. (TSXV: NFG).

Cautionary Statements Regarding Forward Looking Information

This news release contains certain ‘forward-looking information’ and ‘forward-looking statements’ (collectively, ‘forward-looking statements’) within the meaning of applicable securities legislation. 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. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated terms and timing of the proposed acquisition, the expected benefits to the Company and MIAG, and future exploration or strategic activities, are forward-looking statements.

Forward-looking statements reflect the beliefs, opinions and projections of management on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. These assumptions include but are not limited to: the ability of the parties to negotiate and execute a definitive agreement on terms acceptable to all parties; the ability to obtain required regulatory, TSX Venture Exchange and third-party approvals; the availability of capital to fund planned activities; and general economic and market conditions.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied. These risks include, without limitation, the risk that the proposed transaction may not close on the terms or timelines anticipated, or at all; exploration and development risks; access to capital; permitting and regulatory risks; commodity price fluctuations; competition; title risks; and general business, economic and market conditions. There can be no assurance that forward-looking statements will prove to be accurate, and readers are cautioned not to place undue reliance on such statements. The Company does not undertake any obligation to update forward-looking statements, except as required by applicable securities laws.

Neither the TSXV nor its Regulatory Services Provider (as that term is defined in the policies of the TSXV) nor the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) has reviewed or accept responsibility for the adequacy or accuracy of this release.

Palisades Goldcorp Ltd. (CNW Group/Palisades Goldcorp Ltd.)

Made in America Gold Logo (CNW Group/Palisades Goldcorp Ltd.)

SOURCE Palisades Goldcorp Ltd.

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Genesis Minerals (ASX:GMD,OTCPL:GSISF) has struck a recommended deal to acquire Magnetic Resources (ASX:MAU) in a transaction that would add more than 2 million ounces of high-grade gold to its Laverton inventory and reshape its production growth outlook in Western Australia.

Under a binding Scheme Implementation Deed announced Tuesday (February 17), Genesis will acquire 100 percent of Magnetic via a court-approved scheme of arrangement. The offer values Magnetic at approximately US$450 million on a fully diluted basis.

At the centre of the deal is Magnetic’s flagship Lady Julie gold project in the Laverton region, which hosts a mineral resource of approximately 2.2 million ounces grading 1.8 grams per tonne (g/t) gold, and ore reserves of around 1 million ounces at 1.7 g/t. The project sits roughly 20 kilometres from Genesis’ operating 3 million tonne per annum Laverton mill.

“This transaction creates substantial value for both groups of shareholders, delivering genuine synergies while combining the right assets with the right people,” Genesis Executive Chair Raleigh Finlayson said.

“Magnetic’s Lady Julie Gold Project will add more than 2Moz at an attractive high grade to Genesis’ Laverton inventory, further bolstering the mine life and production outlook.”

Lady Julie’s northern boundary adjoins ground recently acquired by Genesis through its purchase of Focus Minerals’ (ASX:FML,OTCPL:FCSUF) Laverton gold project, creating the potential to integrate what would otherwise be neighbouring standalone developments into a larger open pit operation.

Genesis said removing tenement boundaries between the assets presents tangible cost and operational synergies. The acquisition would expand its Laverton mineral resources to approximately 8.4 million ounces, representing a 40 percent increase, and lift its pro forma total mineral resources to 21 million ounces.

The company signaled that the deal could support an uplift to its “ASPIRE 500” growth strategy, with an updated multi-year plan expected following completion.

Magnetic Managing Director George Sakalidis said the deal follows a strategic review exploring development pathways for Lady Julie: “Genesis’ offer follows a strategic review which the Board and its advisers have been working on for several years to explore potential options to collaborate with other operators which have the existing skill set or combination synergies to develop Magnetic’s discoveries and unlock value for our shareholders.’

If implemented, Magnetic shareholders would own approximately 2.4 percent of the enlarged Genesis. Major shareholders representing about 19.6 percent of Magnetic’s issued shares have already committed to vote in favour of the scheme, subject to customary conditions.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Sranan Gold Corp. (CSE: SRAN,OTC:SRANF) (OTCQB: SRANF) (‘Sranan’ or the ‘Company’) continues to work towards the filing of its annual audited financial statements, management’s discussion and analysis, and CEO and CFO certifications for the fiscal year ended September 30, 2025 (the ‘Required Filings’).

The previously identified transactional complexities have been addressed, and the review of the transactions is ongoing. The principal remaining items relate to transaction accounting testing and clarification of VAT treatment in Suriname, with other minor items including tax provision calculations, confirmations, and procedural documentation. As the audit has progressed, the volume of supporting documentation has increased and is being provided to the auditor, resulting in outstanding audit items representing approximately 18%. Sranan remains in ongoing communication with its auditor to confirm any remaining documentation requirements and has committed to providing any outstanding materials promptly upon request. Sranan anticipates that the audited financial statements will be completed and filed on or before February 27, 2026.

The Required Filings were due to be filed by January 28, 2026. In connection with the anticipated delays in making the Required Filings, the Company made an application for a Management Cease Trade Order (‘MCTO‘) under National Policy 12-203 Management Cease Trade Orders (‘NP 12-203‘) to the Alberta Securities Commission, as principal regulator for the Company, and the MCTO was issued on January 29, 2026. The MCTO restricts all trading by the Company’s CEO and CFO in securities of the Company, whether direct or indirect. The issuance of the MCTO does not affect the ability of persons who are not directors, officers or insiders of the Company to trade their securities. The MCTO will remain in effect until the Required Filings are filed or until it is revoked or varied.

The Company currently expects to file its interim first-quarter financial statements on or before the applicable filing due date.

Both the Company and its auditors are working diligently towards the completion and filing of the Required Filings, and the Company will provide additional updates.

The Company confirms that it intends to satisfy the provisions of the alternative information guidelines described in NP 12-203 by issuing bi-weekly default status reports in the form of a news release until it meets the Required Filings requirement. The Company has not taken any steps towards any insolvency proceeding and the Company has no material information relating to its affairs that has not been generally disclosed.

For further information with respect to the MCTO, please refer to the Company’s news releases dated January 21, 2026, and February 4, 2026, available for viewing on the Company’s SEDAR+ profile at www.sedarplus.ca.

About Sranan Gold

Sranan Gold Corp. is engaged in the business of mineral exploration and the acquisition of mineral property assets in Suriname and Canada. The Company’s flagship Tapanahony Project covers 29,000 hectares in one of Suriname’s most prolific artisanal gold mining districts.

For more information, please visit http://www.sranangold.com.

For further information, please contact:
Oscar Louzada, CEO
+31 6 25438975

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

Forward-looking statements

Certain statements made and information contained herein may constitute ‘forward-looking information’ and ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to Sranan and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as ‘anticipates,’ ‘believes,’ ‘targets,’ ‘estimates,’ ‘plans,’ ‘expects,’ ‘may,’ ‘will,’ ‘could’ or ‘would.’

This news release contains forward-looking statements, including, but not limited to, statements regarding management’s expectations about obtaining the MCTO and completing the Required Filings within the anticipated timeline. Forward-looking statements are subject to various risks, uncertainties, and other factors that could cause actual results or events to differ materially from those expressed or implied by such statements. Sranan does not undertake any obligation to update forward-looking statements or information, except as required by applicable securities laws. For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.

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Ormat Technologies (NYSE:ORA) confirmed it has signed a long-term agreement to supply up to 150 megawatts of geothermal power to support Google’s data center operations in Nevada.

The Reno-based renewable energy company announced Tuesday (February 17) that it entered into a portfolio power purchase agreement (PPA) with NV Energy, the Berkshire Hathaway-owned utility serving Nevada. The electricity will ultimately support Alphabet’s (NASDAQ:GOOGL) Google under NV Energy’s Clean Transition Tariff framework.

Under the terms of the deal, Ormat will develop a series of new geothermal projects across Nevada capable of delivering up to 150 MW of capacity. The projects are expected to come online between 2028 and 2030.

The contract term will begin once the first project achieves commercial operation and will extend 15 years beyond the commercial operation date of the final project, creating a long-duration revenue stream.

The structure allows projects to be added to the portfolio as they reach commercial operation, giving Ormat flexibility in staging development while providing Google with a scalable source of clean, around-the-clock electricity.

“AI is fundamentally increasing electricity demand across the technology sector, and geothermal power is uniquely positioned to deliver the reliable, carbon-free power required to support that growth,” said Ormat CEO Doron Blachar.

“This portfolio PPA provides long-term profitable revenue growth and clear visibility into our portfolio development plans, while solidifying our conviction in the expanded exploration and drilling activities we have undertaken over the past several years that laid the groundwork for securing this significant agreement and others like it.”

Blachar added that the agreement, combined with the extension of geothermal tax credits under the OBBBA framework, strengthens Ormat’s ability to execute its long-term growth strategy.

“The momentum of the Clean Transition Tariff through this agreement with NV Energy, Google and Ormat demonstrates a proven, scalable model for large customers to partner with utilities and technology providers to bring new clean capacity to the grid,” said Briana Kobor, Google’s Head of Energy Market Innovation.

The Clean Transition Tariff enables large energy users to procure new clean generation while covering the full costs of their electric service, a structure designed to prevent cost shifts to other customers.

Ormat said the framework could be replicated in other US electricity markets.

The announcement was well received by investors. Ormat shares rose as much as 8.1 percent intraday, marking the company’s largest single-day gain since 2023.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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