Alice Queen (AQX:AU) has announced Upsize to Tranche Two of Placement
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Dr. Adam Trexler, founder and president of Valaurum, shares his thoughts on gold, identifying a key issue he sees developing in the physical market.
‘There’s a crisis in the physical gold market,’ he said, explaining that sector participants need to figure out how to serve investors who want to own gold, but can’t afford current bar and coin prices.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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The collapse of merger talks between Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) and Glencore (LSE:GLEN,OTCPL:GLCNF) has ended what would have been the mining industry’s largest-ever deal.
The two companies confirmed last week that discussions over a potential US$260 billion combination have been abandoned after they failed to agree on terms that would deliver shareholder value. The deal, revived late last year, would have created the world’s largest diversified miner with dominant positions in copper, iron ore, lithium and cobalt.
Rio Tinto said it is no longer considering a merger or other business combination with Glencore after determining it could not reach an agreement that meets its shareholder objectives.
Glencore, for its part, said the proposed terms significantly undervalued its contribution to a combined group, particularly its copper portfolio and growth pipeline. Shares of Glencore fell sharply following the announcement, briefly dropping more than 10 percent in London trading, while Rio Tinto shares also declined.
Under UK takeover rules, Rio Tinto is now barred from making another approach for six months unless granted special permission. The breakdown marks at least the third failed attempt to combine the two mining giants over the past two decades — talks were previously explored in 2008 and again in 2014, with another round briefly surfacing in 2024.
This latest effort gained momentum amid a broader wave of consolidation driven by long-term expectations of copper shortages tied to electrification, artificial intelligence infrastructure and energy transition spending.
A combined Rio Tinto-Glencore would have reshaped the global mining landscape, pairing Rio Tinto’s operational scale and project development expertise with Glencore’s trading arm and exposure to copper and cobalt.
Despite the failed mega-merger, dealmaking across the mining sector has continued at pace in early 2026, reflecting sustained pressure on producers to replenish reserves and secure long-life assets.
In January, Zijin Gold International (HKEX:2259,OTCPL:ZJNGF) agreed to acquire Allied Gold (TSX:AAUC,NYSE:AAUC) in an all-cash transaction valued at roughly US$4 billion. The deal gives Zijin expanded exposure to gold assets in Ethiopia, Mali and Côte d’Ivoire, fitting its strategy of international expansion through large-scale, long-life projects.
Elsewhere, Eldorado Gold (TSX:ELD,NYSE:EGO) and Foran Mining (TSX:FOM,OTCQX:FMCXF) agreed to combine in a share-based transaction that will create a larger gold and copper producer with two development projects scheduled to enter production in 2026. The deal brings together Eldorado’s Skouries project in Greece and Foran’s McIlvenna Bay project in Saskatchewan, with the combined group targeting output of roughly 900,000 gold equivalent ounces by 2027.
Glencore itself has remained active on the divestment side.
In Australia, Austral Resources Australia (ASX:AR1) agreed to acquire the Lady Loretta copper mine from Glencore, marking another step in the Swiss-based miner’s ongoing portfolio optimization. The transaction includes a royalty structure and allows Glencore to retain some upside exposure while exiting a non-core asset.
Rare earths have also featured prominently in this year’s deal flow. Energy Fuels (TSX:EFR,NYSEAMERICAN:UUUU) moved to acquire Australian Strategic Materials (ASX:ASM,OTCPL:ASMMF), a transaction aimed at creating a vertically integrated rare earths producer spanning mining, processing and alloy production.
The deal includes Australian Strategic’s Dubbo project in Australia and its Korean metals plant.
Analysts say the failure of the Rio Tinto-Glencore talks does little to dampen the broader consolidation narrative. Copper remains a central focus among producers as long-term supply deficits are widely forecast despite recent price volatility.
Lithium, rare earths and other critical minerals are also attracting sustained interest as governments and manufacturers seek to secure non-Chinese supply chains.
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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Aurum Resources (AUE:AU) has announced Investor Presentation
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Raptor Resources (RAP:AU) has announced Multiple Zones of Visual Copper Mineralisation at Chester
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/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
NextSource Materials Inc. (‘NextSource’ or the ‘Company’) (TSX:NEXT,OTC:NSRCF) is pleased to announce that it has engaged Stifel Canada as lead agent and sole bookrunner and Maxim Group LLC as co-agent in connection with a ‘best-efforts’ private placement of 58,823,500 units of the Company (the ‘Units’) at a price of $0.425 per Unit (the ‘Offering Price’) for aggregate gross proceeds of C$24,999,987.50 (the ‘Offering’).
Each Unit will consist of one common share of the Company (a ‘Common Share‘) and one-half (½) of one Common Share purchase warrant of the Company (each whole warrant, a ‘Warrant‘). Each Warrant will be exercisable to acquire one Common Share at an exercise price of C$0.55 per Common Share for a period beginning 61 days following the Closing Date (as defined below) and expiring 3 years following the Closing Date.
The net proceeds from the Offering are expected to be used to advance the UAE Battery Anode Facility, update the Molo technical report and for general corporate purposes as disclosed in the offering document.
Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106‘), the Units will be offered for sale to purchasers resident in each of the provinces of Canada, except Québec, and/or other jurisdictions outside of Canada pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935 – Exemptions from Certain Conditions of the Listed Issuer Financing Exemption (the ‘Listed Issuer Financing Exemption‘). As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.nextsourcematerials.com. Prospective investors should read the offering document before making an investment decision.
The Company is party to an investment agreement with Vision Blue Resources Limited (‘Vision Blue‘) pursuant to which, among other things, the Company granted Vision Blue a contractual right to participate in equity financings on the same terms as such financings to maintain its ownership percentage in the Company. The Company will provide the necessary notice to Vision Blue in accordance with the terms of the investment agreement. Although no assurance can be provided, the Company anticipates that Vision Blue will participate in the Offering to maintain their pro-rata equity interest in the Company.
The Company has also entered into an amended and restated loan facility with Vision Blue (the ‘Amended Facility‘) which increased the maximum capacity under the existing facility from US$30,000,000 to US$50,000,000. Drawdowns remain at the discretion of Vision Blue and there is no assurance that additional advances will be available to the Company under the Amended Facility. However, the Company expects that, at closing of the Offering, the Company and Vision Blue will enter into a consent agreement under which Vision Blue will commit to advancing US$5,000,000 under the Amended Facility subject to the satisfaction of certain conditions precedent and will extend the maturity date under the Amended Facility to the date that is 12 months following the Closing Date.
The Offering is scheduled to close on or about February 24, 2026 (the ‘Closing Date‘) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the approval of the Toronto Stock Exchange.
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 state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, ‘U.S. Persons’ (as such term is defined in Regulation S under the U.S. Securities Act) absent such registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
Related Party Transaction
Vision Blue holds 47.5% of the Company’s issued and outstanding shares (47.5% on a partially diluted basis). Accordingly, the Amended Facility constitutes a ‘related party transaction’ as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (‘MI 61-101‘).
The Company is not required to obtain a formal valuation in respect of the Amended Facility. The Company is exempt from the need to obtain minority shareholder approval per subsection 5.7(1)(f) of MI 61-101, as the Amended Facility is on reasonable commercial terms that are not less advantageous to the Company than if the Amended Facility were obtained from a person dealing at arm’s length with the Company and the Amended Facility is not convertible, directly or indirectly into equity of the Company or a subsidiary of the Company. The Board of Directors of NextSource, with the exception of Sir Mick Davis (being a Director of Vision Blue) who declared his interest and recused himself, unanimously approved the Amended Facility.
About NextSource Materials Inc.
NextSource Materials Inc. is a battery materials company based in Toronto, Canada that is intent on becoming a vertically integrated global supplier of battery materials through the mining and value-added processing of graphite and other minerals.
The Company’s Molo graphite project in Madagascar is one of the largest known and highest-quality graphite resources globally, and the only one with SuperFlake® graphite. The Molo mine has begun production through Phase 1 mine operations.
The Company is also developing a significant downstream graphite value-add business through the staged rollout of Battery Anode Facilities (BAF) capable of large-scale production of coated, spheronized and purified graphite for direct delivery to battery and automotive customers, in a fully transparent and traceable manner. The Company is now in the process of developing its first BAF in the UAE.
NextSource Materials is listed on the Toronto Stock Exchange under the symbol ‘NEXT’ and on the OTCQB under the symbol ‘NSRCF’.
Cautionary Note Regarding Forward-Looking Statements
This news release contains statements that may constitute ‘forward-looking information’ or ‘forward-looking statements’ within the meaning of applicable Canadian and United States securities legislation. Readers are cautioned not to place undue reliance on forward-looking information or statements. Forward looking statements and information are frequently characterized by words such as ‘plan’, ‘expect’, ‘project’, ‘intend’, ‘believe’, ‘anticipate’, ‘estimate’, ‘potential’, ‘possible’ and other similar words, or statements that certain events or conditions ‘may’, ‘will’, ‘could’, or ‘should’ occur. Forward- looking statements include any statements regarding,
among others: receipt of approvals related to the Offering; the size of the Offering; timing of closing of the Offering; and the intended use of proceeds from the Offering; the execution of the consent agreement (including the additional advance and the extension of the maturity date of the Amended Facility); and availability of the additional advances under the Amended Facility. These statements are based on current expectations, estimates and assumptions that involve a number of risks, which could cause actual results to vary and, in some instances, to differ materially from those anticipated by the Company and described in the forward-looking statements contained in this news release. No assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur or, if any of them do so, what benefits the Company will derive there from. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Although the forward-looking statements contained in this news release are based on what management believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with them. These forward-looking statements are made as of the date of this news release and are expressly qualified in their entirety by this cautionary statement.
SOURCE NextSource Materials Inc.
View original content: http://www.newswire.ca/en/releases/archive/February2026/09/c8992.html
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American Uranium (AMU:AU) has announced AMUIF Commences Trading on the OTCQB in US
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Proceeds to be used to Accelerate Procurement and Component Assembly for Demonstration Facility Deployment in Iceland
Syntholene Energy CORP. (TSXV: ESAF,OTC:SYNTF) (FSE: 3DD0) (OTCQB: SYNTF) (the ‘Company’ or ‘Syntholene’) announces that it will be increasing the size of its previously announced non-brokered financing from up to $2.0 million to up to $3.75 million (the ‘Financing’).
The Financing is expected to consist of the issuance of units of the Company (the ‘Units’) at a price of $0.45 per Unit, with each Unit comprising one common share of the Company (a ‘Common Share’) and one non-transferable common share purchase warrant (each whole warrant, a ‘Warrant’). Each whole Warrant will entitle the holder to purchase one additional Common Share at an exercise price of $0.63 for a period of two years from the date of issuance, subject to an acceleration provision in accordance with the terms of the Financing.
Gross proceeds from the Financing are expected to be used toward the procurement and assembly of components for the Company’s planned demonstration facility in Iceland, and toward corporate marketing initiatives, investor relations and working capital.
The Company expects that insiders of the Company may participate in the Financing. The extent of insider participation, if any, has not been determined at this time. Any insider participation will be disclosed in accordance with the policies of the TSX Venture Exchange and applicable securities laws. The Financing may close in one or more tranches.
Finder’s fees may be payable in connection with the Financing, subject to compliance with applicable securities laws and the policies of the TSX Venture Exchange.
All securities issued pursuant to the Financing will be subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws. Completion of the Financing remains subject to the receipt of all required regulatory approvals, including approval of the TSX Venture Exchange.
The securities offered pursuant to the Financing have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Syntholene
Syntholene is actively commercializing its novel Hybrid Thermal Production System for low-cost clean fuel synthesis. The target output is ultrapure synthetic jet fuel, manufactured at 70% lower cost than the nearest competing technology today. The company’s mission is to deliver the world’s first truly high-performance, low-cost, and carbon-neutral synthetic fuel at an industrial scale, unlocking the potential to produce clean synthetic fuel at lower cost than fossil fuels, for the first time.
Syntholene’s power-to-liquid strategy harnesses thermal energy to power proprietary integrations of hydrogen production and fuel synthesis. Syntholene has secured 20MW of dedicated energy to support the Company’s upcoming demonstration facility and commercial scale-up.
Founded by experienced operators across advanced energy infrastructure, nuclear technology, low-emissions steel refining, process engineering, and capital markets, Syntholene aims to be the first team to deliver a scalable modular production platform for cost-competitive synthetic fuel, thus accelerating the commercialization of carbon-neutral eFuels across global markets.
For further information, please contact:
Dan Sutton, CEO
comms@syntholene.com
www.syntholene.com
+1 608-305-4835
Investor Relations
KIN Communications Inc.
604-684-6730
ESAF@kincommunications.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.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words ‘expect’, ‘anticipate’, ‘aims’, ‘continue’, ‘estimate’, ‘objective’, ‘may’, ‘will’, ‘project’, ‘should’, ‘believe’, ‘plans’, ‘intends’ and similar expressions are intended to identify forward-looking information or statements. All statements, other than statements of historical fact, including but not limited to statements regarding the completion of the Financing, the proposed use of proceeds of the Financing, TSXV approval, development of the test facility, commercial scalability, technical and economic viability, anticipated geothermal power availability, anticipated benefit of eFuel, and future commercial opportunities, are forward-looking statements.
The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to complete the Financing on the proposed terms or at all, that the TSXV will approve the Financing, the Company will be able to execute its business plan, including that it will use the Proceeds of the Financing, if any, as described herein, that the Company will be able to advance its planned test facility, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
The forward-looking statements and information are based on certain key expectations and assumptions made by the Company, including without limitation the assumption that the Company will be able to execute its business plan, that the eFuel will have its expected benefits, that there will be market adoption, and that the Company will be able to access financing as needed to fund its business plan. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because the Company can give no assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, without limitation, Syntholene’s ability to meet production targets, realize projected economic benefits, overcome technical challenges, secure financing, maintain regulatory compliance, manage geopolitical risks, and successfully negotiate definitive terms. Syntholene does not undertake any obligation to update or revise these forward-looking statements, except as required by applicable securities laws.
Readers are advised to exercise caution and not to place undue reliance on these forward-looking statements.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
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AmeriTrust Financial Technologies (TSXV:AMT,OTCQB:AMTFF,Frankfurt:1ZVA) is a publicly traded fintech company focused on the US$1.6 trillion US automotive finance market. The company has built a proprietary, cloud-based platform that enables vehicle leasing and financing, asset servicing, and remarketing. AmeriTrust’s technology seamlessly connects dealers, consumers, and funding partners through an integrated digital workflow that automates underwriting, approvals, documentation, and funding.
Although AmeriTrust supports both loan and lease products, its primary strategic focus is used-vehicle leasing—a segment that remains largely untapped in the US market. Leasing accounts for roughly 25 percent of new vehicle transactions, yet represents less than 2 percent of used-vehicle sales, which are mostly limited to OEM-certified programs.
AmeriTrust’s scalable model overview:1) Dealers and Lenders submit customers to AmeriTrust.2) AmeriTrust underwrites, approves, funds contract and retains servicing. 3) A-Trust (Bankruptcy remote) sells revenue to finance partners with servicing retained.4) AmeriTrust Serves is a full servicing platform providing data and performance reporting.5) AmeriTrust Auto is a remarketing platform focused on repossessions and lease returns offered at retail direct-to-consumer online versus traditional wholesale methods; 5a) Vehicles not sold through retail are liquidated wholesale at auction.
AmeriTrust positions used-vehicle leasing as a more affordable alternative to traditional retail financing, delivering lower monthly payments and reduced upfront costs for consumers, while unlocking incremental sales opportunities for dealers and compelling risk-adjusted returns for lending partners. Its integrated platform enables the company to capture value across the entire asset lifecycle, rather than depending on a single revenue point.
Company Highlights
- Proprietary fintech platform purpose-built for new and used vehicle leasing, servicing and remarketing
- Strategic focus on used-vehicle leasing, a segment with limited competition compared to new-vehicle leasing
- Licensed across the U.S.
- Proprietary technology integrated into major dealer ecosystems, enabling rapid decisioning and funding
- Management team with decades of experience in specialty auto finance, capital markets and platform scaling
This AmeriTrust Financial Technologies profile is part of a paid investor education campaign.*
Click here to connect with AmeriTrust Financial Technologies (TSXV:AMT) to receive an Investor Presentation
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Southern Silver Exploration Corp. (TSXV: SSV,OTC:SSVFF) (the ‘Company’ or ‘Southern Silver’) reports additional assays from drilling which continues to outline extensions of mineralization on the recently acquired Puro Corazon claim and identified further thick intervals of high-grade and strongly silver-enriched polymetallic mineralization.
Highlight assays include:
- a 5.8 metre interval averaging 173g/t Ag, 1.5% Cu, 1.8% Pb and 17.3% Zn (781g/t AgEq)(1) from drillhole 25CLM-210; and
- a 10.8 metre interval averaging 121g/t Ag, 0.3% Cu, 5.1% Pb and 3.9% Zn (348g/t AgEq), including a 3.1 metre interval averaging 225g/t Ag, 0.6% Cu, 9.4% Pb and 7.1% Zn (642g/t AgEq)(1) from drillhole 25CLM-210
- a 3.0 metre interval averaging 715g/t Ag, 0.1g/t Au, 7.5% Pb and 1.0% Zn (890g/t AgEq)(1) from drillhole 25CLM-212
(1) see AgEq calculation criteria in notes to Table 1. Intervals are reported as estimated true thickness unless otherwise indicated
The drill results, specifically from holes 25CLM-210 and 25CLM-215 continue to extend mineralization to depth, below earlier reported results from the Puro Corazon target as well as testing mineralization toward the southern edge of the claim with drill holes 25CLM-211 to 25CLM-214. Previously released intercepts from this round of drilling include:
- 10.5 metres grading 1,115g/t AgEq (see News Release dated December 1, 2025) from 25CLM-203
- 10.4 metres grading 743g/t AgEq (see News Release dated January 6, 2026) from 25CLM-205; and
- 15.3 metres grading 581g/t AgEq (see News Release dated January 27, 2026) from 25CLM-206
Drilling continues to demonstrate the continuity of the high-grade replacement lens first identified in drill holes 25CLM-203 and 25CLM-205 and has now extended mineralization to a depth of over 360 metres below surface in the main skarn target.
Twenty-one core holes out of twenty-two planned holes have been completed to date and a final hole is in progress. Analyses from fourteen drill holes have now been reported and further assays, including those from underground sampling of the historic Puro Corazon workings, are anticipated over the coming weeks.
Figure 1: Plan view of the drilling on the recently acquired Puro Corazon Claim.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/283120_2dd474ba74f959d9_002full.jpg
Figure 2: Longitudinal Section of the Puro Corazon Target. Note: pierce points reflect intercepts into the main Skarn zone
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5344/283120_2dd474ba74f959d9_003full.jpg
Table 1: Select Assay Results from the Cerro Las Minitas project.
| Collar Data | ||||||||||||||
| Hole # | Az | Dip | Depth | From | To | Interval | Est. Tr. Thck. | Ag | Au | Cu | Pb | Zn | AgEq | Notes |
| Deg (UTMN) | Deg | (m) | (m) | (m) | (m) | (m) | (g/t) | (g/t) | (%) | (%) | (%) | (g/t) | ||
| 25CLM-210 | 85 | -54 | 593 | 46.6 | 48.0 | 1.4 | 1.1 | 173 | 0.2 | 0.0 | 2.2 | 0.7 | 244 | |
| 25CLM-210 | 323.4 | 337.3 | 14.0 | 10.8 | 121 | 0.0 | 0.3 | 5.1 | 3.9 | 348 | ||||
| inc. | 323.4 | 324.1 | 0.8 | 0.6 | 350 | 0.0 | 1.1 | 15.7 | 15.3 | 1141 | ||||
| and inc. | 330.3 | 334.3 | 4.1 | 3.1 | 225 | 0.0 | 0.6 | 9.4 | 7.1 | 642 | ||||
| 25CLM-210 | 346.1 | 346.7 | 0.6 | 0.5 | 267 | 0.0 | 1.1 | 13.5 | 18.6 | 1100 | ||||
| 25CLM-210 | 355.0 | 356.1 | 1.1 | 0.9 | 259 | 0.0 | 0.3 | 7.1 | 6.4 | 583 | ||||
| 25CLM-210 | 406.6 | 436.4 | 29.8 | 23.0 | 70 | 0.0 | 0.5 | 0.7 | 6.8 | 301 | 38% Dilution | |||
| inc. | 421.2 | 428.7 | 7.5 | 5.8 | 173 | 0.0 | 1.5 | 1.8 | 17.3 | 781 | ||||
| 25CLM-210 | 448.4 | 451.6 | 3.3 | 2.5 | 116 | 0.0 | 0.1 | 0.5 | 7.3 | 328 | ||||
| 25CLM-211 | 49 | -59 | 405 | 26.4 | 27.8 | 1.4 | 0.7 | 95 | 0.0 | 0.1 | 3.6 | 5.9 | 325 | |
| 25CLM-211 | 266.4 | 305.0 | 38.6 | 21.0 | 34 | 0.0 | 0.1 | 0.4 | 0.2 | 58 | Anomalous composite | |||
| inc. | 275.8 | 277.1 | 1.3 | 0.7 | 121 | 0.0 | 0.5 | 0.3 | 0.1 | 169 | ||||
| and inc. | 298.9 | 299.6 | 0.7 | 0.4 | 358 | 0.1 | 0.5 | 7.6 | 2.3 | 603 | ||||
| 25CLM-212 | 68 | -64 | 498 | 397.0 | 401.3 | 4.3 | 3.0 | 715 | 0.1 | 0.0 | 7.5 | 1.0 | 890 | |
| inc. | 397.0 | 399.0 | 2.0 | 1.4 | 1455 | 0.2 | 0.0 | 14.8 | 1.0 | 1773 | ||||
| 25CLM-212 | 411.7 | 412.8 | 1.1 | 0.8 | 333 | 0.1 | 0.0 | 0.9 | 0.0 | 354 | ||||
| 25CLM-212 | 417.0 | 420.8 | 3.8 | 2.7 | 309 | 0.0 | 0.1 | 1.6 | 0.3 | 360 | ||||
| 25CLM-213 | 45 | -60 | 252 | 148.9 | 150.0 | 1.1 | 0.7 | 60 | 0.0 | 0.2 | 1.5 | 1.3 | 141 | |
| 25CLM-213 | 182.9 | 184.2 | 1.3 | 0.8 | 61 | 0.0 | 0.1 | 1.4 | 1.3 | 131 | ||||
| 25CLM-214 | 45 | -45 | 339 | 117.6 | 118.9 | 1.3 | 0.9 | 131 | 0.0 | 0.5 | 4.3 | 3.9 | 358 | |
| 25CLM-214 | 207.3 | 211.5 | 4.2 | 2.9 | 29 | 0.0 | 0.0 | 1.0 | 1.6 | 92 | ||||
| 25CLM-214 | 226.7 | 228.0 | 1.3 | 0.9 | 22 | 0.0 | 0.1 | 1.2 | 1.0 | 81 | ||||
| 25CLM-215 | 96 | -48 | 492 | 326.9 | 327.4 | 0.5 | 0.2 | 488 | 0.2 | 0.6 | 14.7 | 17.8 | 1293 | |
| 25CLM-215 | 343.9 | 352.4 | 8.5 | 4.0 | 60 | 0.0 | 0.2 | 2.9 | 2.4 | 190 | 57% dilution | |||
| inc. | 343.9 | 344.4 | 0.5 | 0.2 | 179 | 0.0 | 1.7 | 5.3 | 3.1 | 485 | ||||
| and inc. | 351.3 | 352.4 | 1.1 | 0.5 | 241 | 0.0 | 0.3 | 12.8 | 12.4 | 839 | ||||
| 25CLM-215 | 417.3 | 423.1 | 5.8 | 4.8 | 49 | 0.0 | 0.1 | 0.1 | 9.6 | 320 | ||||
| inc. | 417.3 | 419.4 | 2.1 | 1.8 | 9 | 0.0 | 0.1 | 0.0 | 17.2 | 480 | ||||
| 25CLM-215 | 434.0 | 435.5 | 1.4 | 1.2 | 243 | 0.0 | 0.0 | 0.5 | 0.0 | 254 | ||||
- Analyzed by FA/AA for gold and ICP-AES by ALS Laboratories, North Vancouver, BC. Silver (>100ppm), copper, lead and zinc (>1%) overlimits assayed by ore grade ICP analysis,
- High silver overlimits (>1500g/t Ag) and gold overlimits (>10g/t Au) re-assayed with FA-Grav. High Pb (>20%) and Zn (>30%) overlimits assayed by titration. AgEq and ZnEq were calculated using prices of $2,800/oz Au, $32/oz Ag, $4.50/lb Cu, $0.95/lb Pb and $1.25/lb Zn.
- AgEq and ZnEq calculations utilized relative metallurgical recoveries of Au 48.6%, Ag 93%, Cu 70%, Pb 87% and Zn 93%.
- Composites are calculated using a 80g/t AgEq cut-off in sulphide and 0.5g/t AuEq in the oxide gold zone. Composites have <20% internal dilution, except where noted; anomalous intercepts are calculated using a 10g/t AgEq cut-off.
Next Steps
The Company is planning to incorporate the results of the Puro Corazon drilling program into the much larger Cerro Las Minitas project which is expected to significantly enhance the project economics. Final assays are anticipated to be received by the end of the first quarter of 2026, after which the Company intends to:
- update the Mineral Resource Estimate of the Cerro Las Minitas project; followed by
- continue to advance baseline data collection and permit readiness review
The Company reports that work on the Cerro Las Minitas project continues advancing numerous upside opportunities identified subsequent to the July 2024 PEA, while also derisking and advancing the project with the commencement of baseline data collection, hydrology, geotechnical, archaeological and land surveys and studies.
As currently modelled, the Cerro Las Minitas project features a large-scale underground mining operation with robust project economics and high gross revenues in a well located and mining friendly jurisdiction in southeast Durango, Mexico. For more information on the details of the current economic assessment of the Cerro Las Minitas project please refer to Southern Silver’s news release dated June 10, 2024.
About Southern Silver Exploration Corp.
Southern Silver Exploration Corp. is an exploration and development company with a focus on the discovery of world-class mineral deposits either directly or through joint-venture relationships in mineral properties in major jurisdictions. Our specific emphasis is the 100% owned Cerro Las Minitas silver-lead-zinc project located in the heart of Mexico’s Faja de Plata, which hosts multiple world-class mineral deposits such as Penasquito, Los Gatos, San Martin, Naica and Pitarrilla. We have assembled a team of highly experienced technical, operational and transactional professionals to support our exploration efforts in developing the Cerro Las Minitas project into a premier, high-grade, silver-lead-zinc mine. Located in the same State as the Cerro Las Minitas property is the newly acquired Nazas, gold-silver property. Our property portfolio also includes the Oro porphyry copper-gold project and the Hermanas gold-silver vein project where permitting applications for the conduct of a drill program is underway, both located in southern New Mexico, USA.
Robert Macdonald, MSc. P.Geo, is a Qualified Person as defined by National Instrument 43-101 and supervised directly the collection of the data from the CLM project that is reported in this disclosure and is responsible for the presentation of the technical information in this disclosure.
On behalf of the Board of Directors
‘Lawrence Page’
Lawrence Page, K.C.
President & Director, Southern Silver Exploration Corp.
For further information, please visit Southern Silver’s website at southernsilverexploration.com or contact us at 604.641.2759 or by email at corpdev@mnxltd.com .
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements. 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. Forward-looking statements in this news release include plans to advance and develop the CLM property including updating the Mineral Resource Estimate followed by an update of the PEA. These statements are based on a number of assumptions, including, but not limited to, general economic conditions, interest rates, commodity markets, regulatory and governmental approvals for the Company’s projects, and the availability of financing for the Company’s development projects on reasonable terms. Factors that could cause actual results to differ materially from those in forward looking statements include the timing and receipt of government and regulatory approvals, and continued availability of capital and financing and general economic, market or business conditions.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/283120
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