Point Roberts, WA and Delta, BC – July 21, 2020 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast, featuring stock news from TSX, TSXV, CSE, ASX, NASDAQ, NYSE companies plus interviews with CEO’s and leading experts.
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Exploring Mining Podcast Episode 85: News from (NYSE: IAG) (TSXV: LIO) (TSXV: OCG) (TSXV: BME)
IAMGOLD Corporation (NYSE:IAG) is proceeding with the construction of the Cote Gold Project in northern Ontario, Canada. According to the press release, this allows construction at the project “in Q3 2020 with activities ramping up into Q4 2020.” Gordon Stothart, President and CEO of IAMGOLD, commented:
“The Cote Gold Project is transformational to the future of IAMGOLD. At a gold price of $1,700, Cote’s expected NPV (on a 100% basis) is over $2 billion, with a 22.4% IRR. The Project is anticipated to generate over 1,000 jobs during construction, 450 jobs during operations, C$5 billion in wages and more than C$10 billion in GDP over its lifespan. Cote is a world-class deposit located in Canada, with estimated contained gold reserves of over 7 million ounces and exploration potential. Today’s construction decision for the Project positions the Company well for the future by reducing overall operating costs (per ounce of gold), increasing total production capacity, increasing the number of operating mines and creating greater balance in our geographic diversity.”
Lion One Metals Limited (TSXV:LIO) has announced that, 3 km northeast of its Tuvatu resource, its has discovered Tuvatu style lodes at Banana Creek. Banana Creek is described in the press release as “a new, high-priority greenfields target situated within Lion One’s recently granted Navilawa tenement, part of its 100% controlled Tuvatu alkaline gold project, Fiji.” Quinton Hennigh, technical advisor to Lion One, explained:
“Crews in Fiji are finding new outcropping lodes daily at Banana Creek and surrounding areas as they open up roadcuts and trenches. Many of these are generating high-grade assays and appear similar to gold lodes seen at Tuvatu nearly 3 km to the southwest. We are now seeing a steady stream of assays come in from these new areas and we expect many more over [the] coming months. Drill targets are quickly emerging at Navilawa. Two holes at Tuvatu West appear to have encountered high level splay structures, possibly above a deeper feeder structure. We plan more drilling at a deeper level in this area later this year. Meanwhile our Tuvatu step-out and feeder drill program continues. This is shaping up to be a busy, exciting year.”
Outcrop Gold Corp. (TSXV:OCG) has announced “a significant increase in the land position surrounding and along trend from the high-grade silver-gold Santa Ana project, including the consolidation of multiple regional scale, parallel silver-gold belts in the Mariquita District, Colombia.” Outcrop CEO Joe Hebert said:
“Outcrop is elated to make an acquisition of this quality and scale. Colombia is one of the few exploration jurisdictions in Latin America where a company can consolidate this large of an area of high-grade veins with almost no modern exploration but abundant artisan mining. Controlling numerous vein systems that extend for tens of kilometres will position us for a world-class high-grade discovery.”
Barsele Minerals Corp. (TSXV:BME) has shared an operational update relating to ongoing exploration activities within the Barsele Gold-VMS Project area in Sweden. The press release indicates that coring was initiated on July 14th and that: [drilling] “will test Regional Orogenic Gold and Volcanogenic Massive Sulphide targets,” and “will test for continuity and extensions of higher-grade intercepts within the Avan and Central zones.”
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