Giant Mining to list 15.45 million warrants on CSE
2024-09-17 09:13 ET - News Release
Mr. David Greenway reports
GIANT MINING ANNOUNCES INTENTION TO LIST WARRANTS ON THE CANADIAN SECURITIES EXCHANGE AND ASSAYS PENDING FROM MAJUBA HILL COPPER DRILL PROGRAM
Giant Mining Corp. will be applying to the Canadian Securities Exchange to list a total of 15,455,000 common share purchase warrants. The warrants were issued in connection with the company's private placement of units, which closed on May 1, 2024 (see press release on Giant Mining's website and on SEDAR+).
Each warrant entitles the holder thereof to acquire one common share of the company upon payment of the exercise price of 25 cents per warrant share prior to May 1, 2025. It is intended that, upon listing, the warrants will trade under the symbol BFG.WT. It is also anticipated that the warrants will be governed pursuant to a warrant indenture to be entered into between the company and Endeavor Trust Corp.
Further details about the warrant listing will be provided upon confirmation of a trading date and a Cusip number for the warrants and the CSE's conditional approval of the proposed warrant listing. The listing of the warrants is subject to the approval of the CSE and may not occur as anticipated or at all.
The company recently announced successful completion of hole MHB-30 to a depth of 800 feet (244 metres) and hole MHB-31 to a depth of 1,086 feet (331 metres) with assays from MHB-30 shipped to ALS and awaiting assay results as part of the company's diamond core drilling program at its Majuba Hill porphyry copper deposit in Pershing county, Nevada. The company has a further 16-hole multiphased RC (reverse circulation) drill hole program planned.
Recent comprehensive reviews by the Giant team noted important mineralization controls during the surface traverses of the Majuba Hill drill sites and while examining the underground workings. Distinct magmatic-hydrothermal breccias were observed controlling high-grade copper in the greater-than-0.5-per-cent-copper domain from the 2023 block model (see National Instrument 43-101 report available on Giant Mining's website).
The recent core drilling intersected the magmatic-hydrothermal breccia bodies in core hole MHB-30 and MHB-31. Drill hole MHB-31 drilled in the gap zone between Whittle pits 13 and 43.
The team also reviewed the nearly 25,000 metres of drilling at the company's core shed and offices in Elko, Nev., that makes up the basis for the exploration target of 50 million to 100 million tonnes (see NI 43-101 report available on Giant Mining's website).
"We are pleased with the progress of our drilling program at Majuba Hill, particularly with assays still pending and a team that is fully engaged to take the Majuba Hill deposit to the next level," said David Greenway, chief executive officer of Giant Mining. "We look forward to receiving the lab results from ALS Global Services, which will further our understanding of the deposit and its potential to become a future domestic supply of copper for North America."
Quality assurance/quality control (QA/QC) measures, chain of custody
The company utilizes a QA/QC program using best industry practices at the Majuba Hill project. The samples are placed in cloth or plastic sample bags and are transported from the Giant Mining secure warehouse or directly from Woods Process to ALS's sample prep facility in Elko, Nev. ALS then transports the prepared pulps to its analytical lab in North Vancouver, B.C.
Drill core samples are sawn in half lengthwise and one-half is placed in labelled cloth sample bags. All samples are analyzed for copper, gold, silver and 33 other elements. Gold is determined by ALS method Au-AA23, which is a fire assay with an AAS finish on a 30-gram split. Copper, silver and the remaining 31 elements are determined by ALS method ME-ICP61, which is a four-acid digestion and ICP-AES assay. Approximately 10 per cent of the submitted samples are drill duplicates and copper-gold-porphyry commercial standard reference material pulps. The sample rejects and remaining pulps will be retrieved from ALS.
Qualified person
The scientific and technical information contained in this news release has been reviewed and approved by E.L. (Buster) Hunsaker III, CPG No. 8137, a non-independent consulting geologist who is a qualified person as such term is defined under NI 43-101, Standards of Disclosure for Mineral Projects.
About Giant Mining Corp.
Giant Mining is engaged in the identification, review and acquisition of latter-stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fuelled by the Green New Deal in the United States and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce electric vehicles and other renewable power sources as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold district located 156 miles (251 kilometres) outside Reno, Nev., United States. Management has been mandated to focus on safe, mining-friendly jurisdictions where government regulations are supportive of mining operations.
We seek Safe Harbor.
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