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To: LoneClone who wrote (171034)4/3/2023 2:29:40 PM
From: LoneClone  Respond to of 192593
 
Wyloo won't increase Mincor bid

miningweekly.com

3rd April 2023

By: Esmarie Iannucci
Creamer Media Senior Deputy Editor: Australasia

PERTH (miningweekly.com) – Suitor Wyloo on Monday announced that it would not be increasing its A$1.40-a-share offer for nickel miner Mincor Resources, after Mincor last week withdrew its production guidance after failing to come to an agreement with major BHP regarding the acceptance of off-specification product.

Mincor initially urged shareholders not to take any action on the Wyloo offer, saying shareholders who accepted the A$1.40-a-share offer would be unable to capitalise on a higher offer price.

However, Wyloo on Monday said that it had been unaware of Mincor’s struggles to reach specification during the ramp-up of production, and as a result, would not increase its offer price.

Wyloo currently holds a 19.9% interest in Mincor.



To: LoneClone who wrote (171034)4/3/2023 2:35:04 PM
From: LoneClone  Respond to of 192593
 
Drilling Intersects Anomalous Uranium at Forum's Wollaston Project, Athabasca Basin, Saskatchewan

newsfilecorp.com

Vancouver, British Columbia--(Newsfile Corp. - April 3, 2023) - Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) ("Forum" or "the Company") is pleased to announce that it has completed seven holes for 2,031 metres on its 100% owned Wollaston Lake Projected located 10 km southeast of Cameco's Rabbit Lake mill and 30 km southeast of Orano/Dennison's McClean Lake mill (Figure 1).

Highlights:

  • Complete ground gravity coverage over prospective conductive trends.
  • Anomalous uranium and boron in two drill holes along Gizmo trend requires follow-up drilling.
  • Follow-up drilling required along newly identified coincident electromagnetic conductor/gravity trends and at historical uranium mineralization encountered on Burman Island.



  • Rebecca Hunter, Vice President, Exploration commented, "The regional geophysical surveys and limited drilling completed by Forum coupled with historical work done on this property have elevated our expectations for an economic uranium deposit on this well-located property in the Athabasca."

    Ground Gravity Survey

    A total of 4,573 stations at 100 metre by 100 metre spacings were collected this past winter over an area of 67.2 km2. Fourteen new gravity anomalies have been identified, many of which are associated with coincident moderate to strong EM conductors, which require follow-up (Figure 2).

    Gizmo Trend Follow-up

    New drilling along the Gizmo trend (Figure 3) has identified a graphitic pelite with a weak brittle overprint below the main elevated radioactivity, which may be the controlling structure that led to the weak uranium mineralization up to 1960 ppm U identified earlier in 2022 (see Forum News Release dated April 19, 2022). New assay samples from the 2022/2023 winter drilling program have returned additional elevated U values between 95 and 444 ppm with coincident elevated Boron up to 900 ppm and weak to moderate clay alteration adjacent to these discreet brittle fault structures. Follow-up of this structure will be a focus in future drilling programs along trend where a newly identified strong gravity low (750 m long) to the east is coincident with this prospective and uranium fertile structure/conductor system. This anomaly was not tested this winter due to terrain challenges getting into the area and will have to drilled using a helicopter-supported program.

    New Trends

    Additional high-priority conductors (A1, B1, B2 and B3) with coincident gravity anomalies have been identified (Figure 3). Along the A1 conductor historical drilling intersected several m-scale, moderately to strongly graphitic and pyritic zones with intervals of brecciation and moderate clay alteration. Weak elevated radioactivity is observed over 2.7 kilometres within and adjacent to these graphitic fault structures. Historical drill testing was largely widely spaced (~400 to 900 m) and was drilled at moderate angles to less than 100 metres depth. Additional investigation is warranted over the A1 conductor. Three additional conductive splays branch off the main A1 trend and coincide a new gravity anomaly as well.

    The B1, B2 and B3 conductors are along the southern shore of Hidden Bay and along Ashley Peninsula (Figure 3). Historical, shallow depth and widely spaced drilling identified prospective conductive stratigraphy and one drill hole along the B1 conductor intersected elevated radioactivity (400 cps).

    Burman Island

    Located within the southern part of the Wollaston property is a prospective area that was initially explored due to numerous radioactive graphitic pelite and pegmatitic boulders being discovered on the island (Figure 3). Historical drilling by Wyoming Mineral Corp. intersected elevated radioactivity in 17 of 19 drillholes and returned numerous shallow drill intercepts (<50 metres) up to 477 ppm U3O8. Two sub-parallel brecciated and sheared graphitic structures transect the area and require additional testing along strike and at depth. A new gravity anomaly along a sub-parallel conductor to the south of the island also warrants additional exploration.

    Quality Assurance/Quality Control

    Samples were collected as both composite chip samples (0.5 to 10metre intervals depending on lithological variance) and systematic split samples (10 cm intervals) that are submitted to SRC Geoanalytical Laboratories (an SSC ISO/IEC 17025: 2005 Accredited Facility) of Saskatoon, Saskatchewan for analysis. All samples are analyzed using ICP-MS for trace elements reported as partial and/or total digestion, ICP-OES for major and minor elements reported as total digestion, and fusion solution of boron by ICP-OES reported as total digestion. Uranium values for the Gizmo trend are reported as uranium partial values. Historical geochemical values are taken from past assessment reports and their data should be considered unverified and approximate.



    Figure 1: Location of Forum's Wollaston Uranium Project. The project is located on Highway 905, 10km south of Cameco's Rabbit Lake Uranium Mill and 30km south of Orano/Denison's McClean Lake Uranium Mill (yellow squares). Uranium mineral deposits are outlined in red.

    To view an enhanced version of this graphic, please visit:
    images.newsfilecorp.com



    Figure 2: 2023 ground gravity survey. Residual gravity image over the Wollaston Project. Winter 2022/2023 drill holes are shown as red dots.

    To view an enhanced version of this graphic, please visit:
    images.newsfilecorp.com



    Figure 3: Wollaston Project conductor and gravity trends. Total magmatic intensity image overlain with the new conductor trends and gravity anomalies. Winter 2022/2023 drill holes are shown as red dots.

    To view an enhanced version of this graphic, please visit:
    images.newsfilecorp.com

    Rebecca Hunter, PhD., P.Geo., Forum's Vice President of Exploration and Qualified Person under National Instrument 43-101, has reviewed and approved the contents of this news release.

    About Forum Energy Metals

    Forum Energy Metals Corp. (TSXV: FMC) (OTCQB: FDCFF) is a diversified energy metal company with uranium, copper, nickel, and cobalt projects in Saskatchewan, Canada's Number One Rated mining province for exploration and development, a strategic uranium land position in Nunavut and a strategic cobalt land position in the Idaho Cobalt Belt.

    For further information: api.newsfilecorp.com

    This press 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 information is subject to known and unknown risks, uncertainties and other factors that may cause Forum's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Such factors include but are not limited to: uncertainties related to the historical data, the work expenditure commitments; the ability to raise sufficient capital to fund future exploration or development programs; changes in economic conditions or financial markets; changes commodity prices, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological or operational difficulties or an inability to obtain permits required in connection with maintaining or advancing its exploration projects.

    ON BEHALF OF THE BOARD OF DIRECTORS

    Richard J. Mazur, P.Geo.
    President & CEO

    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 release.

    For further information contact:

    Rick Mazur, P.Geo., President & CEO
    mazur@forumenergymetals.com
    Tel: 604-630-1585



    To: LoneClone who wrote (171034)4/3/2023 2:38:56 PM
    From: LoneClone  Read Replies (1) | Respond to of 192593
     
    Gama Explorations Identifies Elevated Gold Values East of Historic Drilling at its Big Onion Project in BC

    accesswire.com

    Friday, March 31, 2023 8:00 AM

    VANCOUVER, BC / ACCESSWIRE / March 31, 2023 / Gama Explorations Inc. (CSE:GAMA)(OTCQB:GMMAF)(FSE:N79) ("Gama" or the "Company") is pleased to announce exploration results from the Big Onion porphyry copper-molybdenum project near Smithers, British Columbia.

    Highlights

    • Prospecting yields gold assays up to 5.84 g/t Au from grab samples.
    • Copper is associated with tungsten, antimony and minor gold and silver in potential epithermal zone.
    • Highest copper and gold values are more than 2 km east of historical drilling at Big Onion.
    "These results clearly indicate the exploration upside potential at the Big Onion project, outside of the main porphyry zone," stated Dr. Mick Carew, CEO of Gama. "This Big Onion project has seen over 30km of historical drilling, mostly focused in one area. These results suggest that other prospective areas of exploration related to a variety of mineralization styles could be situated beyond the immediate footprint of historical drilling at Big Onion. Follow-up prospecting work is required and is planned for the coming summer."

    2022 Rock Sampling program

    A total of 35 rock samples were collected on the Big Onion project in 2022. The rock samples were collected across the project and outside of the area of the historical resource to identify new zones of mineralization. One area of historical trenches to the northeast of the historical resource yielded samples with up to 5.84 g/t Au and 0.419% Cu. Rock samples in this area are associated with elevated tungsten, antimony, lead, copper, arsenic and zinc. This metal association may be indicative of epithermal mineralization. A total of 5 samples were collected with an average of 1.22 g/t Au and 0.218% Cu.

    An area east of the Big Onion project contains rock samples up to 1.625 g/t Au with some samples elevated in copper and arsenic. A total of 18 rock samples were collected with one sample enriched in gold (1.625 g/t Au) and one sample enriched in copper (0.1835% Cu).

    Figure 1. Rock samples collected in 2022. Rock samples that assayed >0.1 g/t Au or >1000 ppm (0.1%) Cu are labeled.

    About the Big Onion

    The Big Onion Property is roughly centered on Astlais Creek and is underlain by a late Cretaceous to early Tertiary quartz diorite porphyry and quartz feldspar porphyry that intruded Jurassic Hazelton Group mafic volcanics and sediments. The multiphase intrusive formed in a northeast trending lineament.

    Historical work on the Property includes almost 55,000 meters of drilling in the 1960's, 1970's and the 2000's. The most recent resource estimate was done in 2010 for Eagle Peak Resources Inc. and Metal Mountain Resources lnc. by Giroux Consultants Inc. (Giroux, 2010) and outlined an indicated resource of 87.1 M tonnes grading 0.30% copper and an inferred resource of 8.6 M tonnes grading 0.27% copper.

    The 2010 resource estimate is considered historical in nature by the Company and is provided for background information purposes only. It is not a current resource estimate. A qualified person (as defined in NI 43-101) has not done sufficient work to classify the historical estimate as a current mineral resource. The Company is not treating the historical estimate as a current mineral resource.

    QAQC and Data Verification

    Samples were analyzed at ALS in North Vancouver. ALS inserts standards, blanks and duplicates as QAQC samples at regular intervals. All QAQC samples returned values within acceptable bounds for the elements of interest.

    QP Disclosure

    Bill Cronk, P.Geo., an independent consulting geologist has reviewed and approved the scientific and technical information in this news release.

    About Gama Explorations Inc.

    Gama is a Canadian company listed on the Canadian Securities Exchange (CSE: GAMA), and on the Frankfurt Stock Exchange (FSE:N79). The Company is a mineral exploration company focused on the acquisition, exploration, and development of mineral properties containing metals used in green technologies and the renewable energy sector. The company currently has the right to acquire 100% interest in the Big Onion Copper-Molybdenum Project located a short 20-minute drive from the town of Smithers in northern British Columbia and owns 100% of the Tyee Nickel-Copper Massive Sulphide Project located in North-Eastern Quebec. The Company continuously evaluates opportunities to acquire interest in additional exploration stage mineral properties in stable jurisdictions.

    On behalf of the board,

    Dr. Mick Carew, PhD|CEO and Director
    mick@gamaexplorations.com

    Looking Statements

    This press release contains certain forward-looking statements as well as historical information. Readers should not rely on information in this summary for any purpose other than for gaining general knowledge of the Company. The words "expected", "will" and similar expressions are intended to be among the statements that identify forward-looking statements. Although the Company believes that its expectations as reflected in any forward-looking statements, are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates, opinions or other factors should change.

    The Canadian Securities Exchange has not reviewed this press release and does not accept responsibility for the adequacy or accuracy of this news release.

    SOURCE: Gama Explorations Inc.