Minnova Confirms High-Grade Mineralization at PL Mine

As part of their 2021 Restart Initiative, Minnova Corp. has started its 2021 drilling program at the PL Mine site, located in the Flin-Flon/Snow Lake Greenstone Belt in central Manitoba.

The initial program will examine 2,500 m of drilling at the PL North Project, located on the mining lease but outside current mineral resource and reserve estimates. The evaluation will determine if Minnova should modify or optimize their current approach.

As of February 3, 2021, Minnova has reported successful findings in Hole M-20-069 at PL Mine. According to a press release, the initial results have confirmed high gold grades on the new FW Tonalite mineralized trends initially identified in the 2020 drill program.

Samples of these findings were delivered to TSL Laboratories Inc. in Saskatoon, SK for further analysis.

“Initial results from the 2021 drilling continue to demonstrate the exploration upside and resource expansion potential at the PL Mine,” said Gorden Glenn, President and CEO at Minnova Corp. “These results confirm the lateral and down dip continuity of new mineralized structures in the PL North target area and specially highlight the developing continuity of mineralized structures in the FW Tonalite. Drilling is ongoing and all results will used to update our reserve and resource estimates in support of an updated mine development plan.”

Minnova Corp. is an emerging Canadian gold producer focused on re-starting the PL Gold Mine and expanding gold resources on its PL and Nokomis gold deposits. The Company has completed a positive feasibility study in support of re-starting the PL Mine at an average annual production rate of 46,493 ounces over a minimum five-year mine life. The PL gold mine has a relatively short pre-production timeline forecast at 15 months, benefits from a valid underground mining permit (Environment Act 1207E), an existing processing plant, over 7,000 meters of developed underground ramp to -135 m depth, is fully road-accessible, and close to existing mining infrastructure.

Silver Elephant Acquires Minago Nickel Sulphide Project in Thompson Nickel Belt

Nickel and silver company Silver Elephant will be joining companies like Vale in northern Manitoba after acquiring the Minago Nickel Sulphide project from Victory Nickel Inc. on the Thompson Nickel Belt.

According to the late January company update, Silver Elephant acquired the project pursuant to asset purchase agreement for aggregate consideration of US$11,675,00 – US$6,675,000 (property payment) in credit against secured debt owned by Victory Nickel and US$5,000,000 worth of Silver Elephant common shares (issued over a one-year period). As well, Silver Elephant will issue C$2,000,000 worth of common shares if the price of nickel exceeds US$10 per pound in 30 business days.

The Minago project spans over 197 km2 and is approximately 480 km north of Winnipeg and 225 km southwest of Thompson. According to Junior Mining Network, the Thompson Nickel Belt is recognized as the fifth largest nickel-bearing geological belt in the world with over five billion pounds of nickel production since 1958. The project also has access to existing infrastructure, including Manitoba Provincial Highway 6, a 230 kV high voltage transmission line that runs directly beside Highway 6, and the Hudson Bay Railway (65 km north of project).

“The Minago acquisition immediately propels Silver Elephant to the forefront of the nickel sulphide mining space to supply much needed Class 1 nickel for long-range, high-intensity, fast-charging NMC 811 (80% nickel, 10% manganese, 10% cobalt) cathode standard in lithium batteries to fuel mass electric vehicle (EV) adoption,” said Dan Oosterman, the Company’s Vice President, Exploration and Canadian Operations. “Silver Elephant’s value proposition is to fill the insatiable and eruptive Class 1 nickel demand from EVs by expanding nickel sulphide resource at Minago to district scale and eventually bringing the Minago project to production with industry partners.”

Silver Elephant Mining Corp. is a premier mining and exploration company of energy metals, with a focus on nickel and silver. Silver Elephant is headquartered in Vancouver, BC.

Callinex Starts Drilling to Test Highly Conductive Anomalies

Callinex Mines Inc. has commenced its 2021 drilling campaign after an electromagnetic survey uncovered four highly conductive anomalies along strike to the south of the Rainbow Discovery, at the 100% owned Pine Bay Project located in the Flin Flon Mining District.

According to a Callinex press release, each of the four modeled conductive anomalies have a strike extent of 300 m and are interpreted to begin at a vertical depth of 200 m. Callinex’s technical team conducted the surface pulse electromagnetic survey (SPEM), in partnership with Koop Geotechnical Services Inc., in January 2021, after realizing the southern area had known favourable geology but had only seen limited drill testing and had never been covered by SPEM.

“We acquired the Pine Bay Project because it encompasses one of the largest altered felsic volcanic rock packages that I’ve come across and with it the potential to host a significant deposit,” said Mike Muzylowski, Founder of Callinex and 2011 inductee into the Canadian Mining Hall of Fame. “I believe, based on the high-grade mineralization intersected to date coupled with the targets outlined by our team today, that the Rainbow Discovery may become one of the more significant discoveries I’ve been a part of in my career exploring the Flin Flon Greenstone Belt.”

Drilling began in early February. The Campaign will start immediately with the completion of two drill holes for 1,600 meters of the 30,000 meters budgeted for 2021.

Callinex Mines Inc. has a rich portfolio of base and precious metals-rich deposits located in established Canadian mining jurisdictions. Currently, the company is actively exploring the Flin Flon Mining District of Manitoba and the Bathurst Mining District of New Brunswick. Both districts have a long mining history that host numerous world-class mines rich in zinc, copper, gold, and silver.

CBLT Acquires Shatford Lake Lithium Property

Ontario-based CBLT Inc. has entered into a definitive agreement with Softrock Minerals Ltd. for the 100% of the Shatford Lake property, believed to be highly prospective for lithium. The property is located in the Winnipeg River/Cat Lake pegmatite field in eastern Manitoba near the Ontario border, roughly 130 km from Winnipeg.

According to the company press release, the area has been previously explored for rare element pegmatites with historical mapping and drilling that identified multiple pegmatite dykes. However, previous tests did not include testing for lithium, though assessments noted traces of spodumene and lithian mica and identified samples of beryl and tantalite.

Tanco Mine, located 5 km away from Shatford Lake, produces cesium and tantalum. The property also has a history of lithium, beryllium, and rubidium.

The transaction means that CBLT will make a one-time payment of $25,000 to Softrock. CBLT will also grant to the vendor a net smelter return royalty of 2%, one-half of which can be re-purchased at any time for $1,000,000. The closing will start as soon as possible. CBLT does not expect shareholder or regulatory approval will be required.

In the press release, CBLT stated that it intends that future work at Shatford Lake begin with ground truthing of historical maps. The company will relocate previously mapped pegmatites and analyze samples for lithium and other elements like cesium, tantalum, and rubidium.

“We are excited to get into the field to begin work at this overlooked gem,” said Peter M. Clausi, CBLT’s CEO. “Research indicates that the Tanco deposit has no outcropping and was only discovered by historical drilling for tin. When you’re looking for elephants, hunt in elephant country.”

BWR and Wolfden Receive Grants from the Manitoba Mineral Development Fund

Both BWR Exploration Inc. and Wolfden Resources Corporation recently announced that they have received grants from the Manitoba Mineral Development Fund (MMDF), an annual fund hosted by the Manitoba Chambers of Commerce.

Announced on January 7, BWR will receive a $300,000 grant to advance BWR’s Little Stull Lake Gold project, located in northeastern Manitoba. According to a BWR press release, the Little Stull Lake Gold project is composed of 20 mineral claims, bordered by two extensive Mineral Exploration Licenses, and contains 38,843 hectares (388.43 square km) altogether. The 20 mineral claims cover the historically identified West Zone gold occurrence and 6.4 km of strike length of the Wolf Bay Shear Zone, both of which host an additional five other historically identified gold occurrences.

“Advancing mineral exploration projects is critical to creating lasting economic benefits to communities in northern Manitoba,” said Chuck Davidson, President and CEO of the Manitoba Chambers of Commerce and Chair of the Manitoba Mineral Development Fund Board. “MMDF is excited to support BWR Exploration’s Little Stull Lake project and to see the future partnerships that emerge from this project.”

The company plans to use the money on preparing the exploration camp for the arrival of a 2021 exploration crew that will drill exploratory holes later in the year at Little Stull Lake. Part of these preparations will include the implementation of COVID-19 precautions.

“The generous grant from the Manitoba Mineral Development Fund represents a very strong endorsement by the Province for the Little Stull Lake Gold project and the surrounding exploration area,” said Neil Novak, President and CEO of BWR. “We are pleased to see that the Manitoba government shares BWR’s vision of the economic potential that the Little Stull Lake Area has, that can create near and long-term jobs for the nearby communities of Gods River and Gods Lake Narrows, thus strengthening the provincial economy and establish mutually rewarding partnerships between Indigenous communities and mineral exploration companies, designed to stand the test of time.”

The creation of the MMDF is in response to the relative economic instability of the mining and mineral development industry in Manitoba. Projects funded by MMDF benefit Manitoba’s economy and local communities, featuring a partner-based approach to help grow and diversify the provincial economy together among other things with Indigenous communities.

On February 18, Wolfden Resources Corporation was awarded a $230,000 grant to support a 2,300-metre diamond drill program on its Rice Island strategic-metal nickel-copper-cobalt deposit. The deposit, which is wholly owned by Wolfden, is located near the town of Snow Lake and its existing infrastructure.

According to a Wolfden press release, the focus of the drill program to is toexpand the mineral resource of the Rice Island nickel-copper-cobalt deposit with step-out drill holes and to explore for similar mineralization within the project area.

“We appreciate the generous grant. It’s a strong endorsement for Wolfden and the potential to expand the deposit,” stated Ron Little, President and CEO of Wolfden. “In addition, it demonstrates the Manitoba government’s forward-looking commitment in supporting strategic-metal mineral exploration and the importance of the mineral extraction industry in creating jobs and other associated economic benefits, for the community of Snow Lake and the surrounding area. Wolfden will more than match the funds of the grant in the coming drill program.”

“The MMDF is pleased to be able to assist in a project like Rice Island that is known to contain strategic metals of nickel, copper, and cobalt in a very prospective mineral belt,” stated Chuck Davidson. “The project is consistent with the MMDF’s priority and objective to jump-start mineral exploration initiatives in Manitoba that could capitalize on existing mineral assets and infrastructure.”

Wolfden Resources Corporation is an exploration and development company focused on strategic and precious metals deposits. The company has four main properties, located in Rice Island, MB; Nickel Island, MB; Tetagouche, NB; and in Pickett Mountain, Maine.

BWR Exploration Inc. hosts a portfolio of base and precious metals rich deposits in established Canadian mining jurisdictions, including the Little Stull Lake project. BWR also hosts the Shunsby Base metal project in the Porcupine Mining District (ON) and the Vendôme Sud project located in the Val d’Or Mining District (northwest QC).

Gossan Resources Announces Amendment to Stock Option Plan

Gossan Resources Limited (TSX: GSS) has announced that it intends to implement certain amendments to its incentive stock option plan in accordance with Policy 4.4 – Incentive Stock Options of the TSX Venture Exchange to increase the number of shares authorized for issuance under ‘the plan.’

According to a company press release, the plan is a fixed stock option plan that, together with all of the company’s other previously established stock option plans or grants, could not result at any time in the number of common shares reserved for issuance for stock options exceeding 10% of the issued shares as at the date of implementation of the stock option plan. The plan has an aggregate maximum of 4,000,000 common shares reserved for issuance, representing 9.94% of the company’s issued and outstanding common shares. Currently, Gossan has 1,912,500 stock options outstanding, representing 4.75% of the company’s issued and outstanding common shares. The amendment did not require shareholder approval to be implemented.

Gossan continues to seek new financeable resource projects in Newfoundland, Manitoba, Ontario, and throughout North America. The company holds a broadly diversified portfolio of multi-element properties prospective for base metals and platinum group elements, as well as specialty ‘green-battery metals’: vanadium, titanium, tantalum, lithium, and chromium.

In Manitoba, Gossan’s projects include the Inwood Magnesium Dolomite property, the Pipestone project, and the Bird River project. The Inwood Magnesium Dolomite property is mined for magnesium-rich dolomite, and is located in south-central MB, 80 km north of Winnipeg. The Pipestone project is a 50% owned joint venture with Cross Lake Mineral Explorations Inc. and produces vanadium, titanium, and iron. It is situated in north-central MB, approximately 150 km south of Thompson and 550 km north of Winnipeg. Finally, the Bird River project is positioned 40 km east of Lac du Bonnet and along the Bird River Sill Complex. It produces palladium, platinum, and a variety of base metals.

The company also has royalty interest in the Manigotagan Deposit, located 170 km northeast of Winnipeg where Gossan held a silica sand deposit at Seymourville, on the east shore of Lake Winnipeg. The property is directly across from Black Island where silica sand was extensively quarried prior to the island becoming a Provincial Park.

Satori Receives Work Permit for Drilling at the Tartan Lake

Satori Resources Inc., a Toronto-based mineral exploration and development company has received a work permit to begin drilling at their Tartan Lake Gold Mine Project near Flin Flon. With this permit, the company has started preparing the access road, sent quotes out to drilling tenders, and has engaged technical staff to supervise a 3,200-metre diamond drill program targeting the down plunge continuation of the Main Zone vein system.

According to a press release, Satori plans to apply a modern, systematic approach to exploration at the Tartan Lake Gold Mine project. In 2020, the company collected and reviewed the geophysical data from the 1980s in order to isolate geophysical signatures coincident with known mineralization. Processing this historic data with contemporary techniques has generated new drilling targets, which show potential for additional high-grade mineralization across numerous shear zones that transect the property. Therefore, 500 metres of diamond drilling is also planned to test targets within 1,000 metres of the historic mine site.

The discoveries are especially exciting because the past-producing Tartan Lake Gold Mine project has not seen a significant drill program in 23 years. Satori believes there are excellent opportunities for additional discoveries given the unexplored extent of the shear zones that host the known mineralization.

The Tartan Lake project is approximately 12 kilometres northeast of Flin Flon, and includes the Tartan Lake Mine (1986–1989), which produced 36,000 ounces of gold from 250,000 tonnes of ore feed. Remaining infrastructure includes: all-season access road, grid-connected power supply, mill, mechanical, warehouse and office buildings, tailing impoundment, and a 2,100 metre decline and developed underground mining galleries to a depth of 300 metres from surface.

Vision Lithium Announces Agreement to Acquire Godslith Lithium Deposit

Vision Lithium Inc. has entered into a binding letter of intent with James C. Campbell and Peter C. Dunlop (the vendors) on an arm’s length basis, to acquire all of the right, title, and interest of the vendors in and to the non-surveyed, unpatented mining claim known as the Godslith claim.

According to the company press release, Vision Lithium has applied for a mineral exploration licence, which together with the Godslith claim, covers a total area of approximately 5,560 hectares. The property is located less than 1 km northwest of Gods River, within and surrounding the traditional territory of the Manto Sipi Cree Nation in the Gods Lake area.

“The Godslith project is an excellent addition to our lithium portfolio of properties and we are eager to validate the historical exploration work that has been done on the property,” said Victor Cantore, Executive Chairman of Vision Lithium. “When evaluating a lithium exploration asset, we consider any previous exploration work, especially drilling, that demonstrates high-grade lithium in the ground. We also select assets that have upside exploration potential for future growth and expansion and that are located in safe, mining friendly jurisdictions. In our estimation, this project meets or exceeds our selection criteria, having tremendous exploration upside and being located in Manitoba, Canada. The deposit has only been tested to a depth of 243 metres where drilling intersected 15.2 metres grading 1.49% Li2O.”

The transaction will be carried out by way of a definitive purchase agreement to be entered into between the parties. The press release states that a separate exploration agreement is to be negotiated and entered into between Vision Lithium and the Manto Sipi Cree Nation to establish a long-term, mutually beneficial, cooperative and respectful relationship based on trust and certainty concerning the exploration program to be carried out by Vision Lithium on the property.

Pursuant to the terms of the transaction, Vision Lithium will issue to the vendors 4,000,000 common shares of the company and will grant the vendors a 3% net smelter returns royalty. The transaction remains subject to certain conditions, including: the signing of the definitive purchase agreement; the approval of the company’s board of directors; receipt of all necessary consents and approvals, including the approval of the TSX Venture Exchange; and standard closing conditions for transactions of this nature. The transaction is set to complete before the end of March.

Vision Lithium Inc. is a junior exploration company focused on exploring and developing high-quality mineral assets including lithium, gold, and base metals in safe jurisdictions, primarily in Canada.