RENO, Nev., Jan. 04, 2024 (GLOBE NEWSWIRE) -- NuLegacy Gold reports that it is suspending further exploration of its Red Hill Property. This suspension is due to the lack of any meaningful results in the second hole of the 2023 program combined with the failure to fully complete the Sept 2023 common share offering which was seeking C$ 2.5 million. NuLegacy will now explore various options for the Red Hill Property.

The second hole, IS23-02 (a vertical hole 2,000 feet deep) intercepted 365 feet, or 111 metres of Wenban Unit 5 in the main target zone below the CMZ-G fault (745-1110 ft). While there were numerous faults and a continuous breccia zone 100 feet thick, there was no strong Carlin-type alteration throughout or below the main target, thus no strong geochemical signature to guide further targeting. Based on significant being 10 feet or more of 0.1 g/t Au or higher, there were no significant intervals of gold in the hole.

NuLegacy Gold Corporation further reports that at its annual general meeting held on December 29, 2023, a total of 200.8 million common shares or approximately 32.41% of the Company’s issued and outstanding shares were represented. Shareholders voted in favor of all items of business before the meeting, including the appointment of DeVisser Gray LLP as the Company’s auditor and the election of the following directors for the ensuing year: Albert Matter, Alex Davidson, John Budreski and Roger Steininger.

The Company also announces a change in Corporate Secretary. Mr. Gregory Chu, who has acted as NuLegacy’s Corporate Secretary since its inception, has recently retired from law practice. The Company would like to thank him for his many years of exceptional service as NuLegacy’s legal counsel and Corporate Secretary. Mr. Xavier Wenzel, CPA, CA, NuLegacy’s Chief Financial Officer, will assume the position of Corporate Secretary.

Sampling Methodology, Chain of Custody, Quality Control and Quality Assurance: All sampling was conducted under the supervision of the Company’s project geologists and the chain of custody from the project to the independent demo preparation facility, American Assay Labs in Sparks, NV, was continuously monitored. The samples were crushed, pulverized and demo pulps were analysed using industry standard fire assay methods. A blank or certified reference material was inserted approximately every 20^th sample. Data verification of the analytical results included a statistical analysis of the standards and blanks that must pass certain parameters for acceptance to ensure accurate and verifiable results.

About NuLegacy Gold: Exploration: NuLegacy is focused on exploring for high-grade Carlin-style gold deposits on its premier 108 sq. km (42 sq. mile) district scale Red Hill property. The Red Hill is on trend/adjacent^Ito three of Nevada Gold Mines’ most profitable multi-million ounce Carlin-type gold mines; the Pipeline, Cortez and Goldrush^II with their massive 50+ million ounces gold endowment. These are three of the world’s thirty largest, lowest cost, highest grade, and politically safest gold mines, producing annually circa 3% of the world’s gold.

^I The similarity and proximity of these deposits in the Cortez Trend including Goldrush are not necessarily indicative of the gold mineralization in NuLegacy’s Red Hill Property.

^II Currently structured as an underground mine Goldrush contains P&P: 7.8 M oz @ 7.29 g/t; M&I: 8.5 M oz @ 7.07 g/t (inclusive of P&P); and Inferred: 4.5 M oz @ 6.0 g/t (as of December 31, 2021). Source: Corporate presentation of Nevada Gold Mines – Goldrush Underground dated September 22, 2022.

ON BEHALF OF THE BOARD OF NULEGACY GOLD CORPORATION

Albert J. Matter, Chief Executive Officer & Cofounding Director
Tel: +1 (604) 639-3640; Email: albert@nuggold.com

For more information about NuLegacy visit: www.nulegacygold.com or www.sedarplus.ca

Dr. Roger Steininger, a Director of NuLegacy, is a Certified Professional Geologist (CPG 7417) and the qualified person as defined by NI 43-101, Standards of Disclosure for Mineral Projects, responsible for approving the scientific and technical information contained in this news release.

Cautionary Statement on Forward-Looking Information: This news release contains forward-looking information and statements under applicable securities laws, which information and/or statements relate to future events or future performance and reflect management’s current expectations and beliefs based on assumptions made by and information currently available to the Company. Readers are cautioned that such forward-looking information and statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, real results of exploration activities and drilling, unanticipated geological, stratigraphic and structural formations, misinterpretation or incorrect analysis of projected geological structures, alterations and mineralization, environmental risks, operating risks, adverse weather conditions, accidents, labor issues, delays in obtaining governmental approvals and permits, inability to secure drilling equipment and/or contractors on a timely basis or at all, delays in receipt of assay results from third party laboratories, inflation, future prices for gold, changes in personnel and other risks in the mining industry. There are no assurances that the net proceeds from the Offering will be sufficient to complete the Company’s proposed 2023 fall/winter drill program in its entirety. Furthermore, there are no known mineral resources or reserves in the Red Hill Property, the proposed drill program is an exploratory search for ore and the presence of gold resources on properties adjacent or near the Red Hill Property including the Goldrush deposit is not necessarily indicative of the gold mineralization on the Red Hill Property. There is also uncertainty about the continued spread and severity of COVID-19, the ongoing wars in Ukraine and Gaza, elevated inflation and high interest rates and the impact they will have on the NuLegacy’s operations, personnel, supply chains, ability to raise capital, access properties or procure exploration equipment, supplies, contractors, and other personnel on a timely basis or at all and economic activity in general. All the forward-looking information and statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR+ at www.sedarplus.ca. The forward-looking information and statements in this news release are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking information and statements.

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.

Welcome to the nickel miners news for December.

The past month saw continued low nickel prices resulting in the collapse of a small nickel producer. 2023 has been a tough year for the base and EV metals as China slowed.

Nickel price news

As of December 30, the nickel spot price was USD 7.44/lb, flat from USD 7.46/lb last month. LME shows the price at USD 16,250/tonne. Nickel inventory at the London Metals Exchange [LME] was significantly higher the past month at 64,056 tonnes (45,468 tonnes last month).

Nickel spot price 5 year chart - Current price = USD 7.44/lb

Nickel demand v supply chart

Nickel Business Environment: Supply-Demand Balance (as of May 2023) (source)

Benchmark Mineral Intelligence forecasts deficits for lithium, nickel & cobalt to increase from 2027 onwards (source)

Trend Investing v IEA demand forecast for EV metals (Trend Investing) (IEA)

2021 IEA forecast growth in demand for selected minerals from clean energy technologies by scenario, 2040 relative to 2020 - Increases Of Lithium 13x to 42x, Graphite 8x to 25x, Cobalt 6x to 21x, Nickel 7x to 19x, Manganese 3x to 8x, Rare Earths 3x to 7x, and Copper 2x to 3x (source)

2022 - IEA forecasts 60 new nickel mines needed by 2030

BMI forecasts we need 330+ new EV metal mines from 2022 to 2035 to meet surging demand - 72 new 45,500tpa nickel mines needed by 2035

Lithium & Nickel are the two 'high importance to energy' critical materials in the medium term (2025-2035) (source - page 29)

Nickel Market News

On December 1 Energy.gov announced: "Department of Energy releases proposed interpretive guidance on Foreign Entity of Concern for public comment."

On December 5 Fastmarkets reported:

FEOC definition leaves most Indonesian nickel outside IRA tax credits. A Foreign Entity of Concern (FEOC) includes any foreign entity that is "owned by, controlled by or subject to the jurisdiction or direction of a government of a covered nation". Those countries that currently fall into this "covered nation" category are China, Russia, North Korea and Iran...Starting from next year, with a period of transition, companies that have a more than 25% ownership or control by a FEOC - including board seats, voting rights or equity - will not be eligible for tax credits available under the Inflation Reduction Act (IRA). "To strengthen the security of America's supply chains, beginning in 2024, an eligible clean vehicle may not contain any battery components that are manufactured or assembled by a FEOC, and, beginning in 2025, an eligible clean vehicle may not contain any critical minerals that were extracted, processed or recycled by a FEOC," the Department stated...

On December 5 Business today reported:

Ford acquires stake in Indonesia nickel project. Ford Motor Co will take a direct stake in a battery-nickel plant under construction in Indonesia... The US automaker joins PT Vale Indonesia and China's Zhejiang Huayou Cobalt Co as investors in a project to make an annual 120,000 tonnes of nickel chemicals for EV batteries, according to a joint statement from the companies. The Pomalaa plant is expected to start commercial production in 2026, with total investment at 67.5 trillion rupiah (RM20.2 billion). The statement did not disclose each company's share of the investment...

On December 28 Argus Media reported:

Viewpoint: Weak Ni fundamentals to weigh on EV market. The start of a restocking cycle in 2024 across the Chinese electric vehicle (EV) battery value chain, along with easing inflationary pressures in major growth area Europe, will boost demand for nickel-based battery cathodes, ingredient nickel sulphate and input feedstocks after a slowdown this year. But supply is set to outpace this growth, with a ramp up in mixed hydroxide precipitate (MHP) and nickel matte production, together with a Class 1 and battery chemicals surplus, set to suppress prices and exert pressure on producers' margins... Dutch investment bank ING expects benchmark nickel prices to be little changed and average $16,600/t in the first quarter of next year, with a full-year average of $16,813/t. And the International Nickel Study Group expects the global nickel surplus to widen to a record 239,000t in 2024, from 223,000t in 2023...

On December 30 Bloomberg reported:

Nickel is year's biggest metals loser, copper manages small gain. Nickel slumps 45% this year as supply continues to grow... In a mostly lackluster year for metals trading, nickel emerged as the worst performer and might not see a reprieve anytime soon. The metal used in stainless steel and electric vehicle batteries posted an annual drop of 45% on the London Metal Exchange, the biggest decline since 2008. That's by far the worst outcome among industrial metals, and contrasts with a 2.2% gain for copper or with iron ore's advance of about 20% in Singapore. Metals have been pressured this year by global economic headwinds and uncertainty over China's growth outlook.

Nickel Company News

Producers

Norilsk Nickel (LSX: MNOD) (OTCPK:NILSY)

On December 14, MMC Norilsk Nickel announced: "Nornickel publishes first-ever climate change report..."

Vale SA (NYSE:VALE)

Vale Voisey's Bay Mine is a key Canadian and global source of nickel. Vale plans a refinery at Bécancour in Québec to supply GM with battery grade nickel sulfate with deliveries targeted to commence in H2 2026.

No nickel related news for the month. See 'market news' story - "Ford acquires stake in Indonesia nickel project." Ford JV with PT Vale Indonesia & Huayou Cobalt.

Glencore [HK:805] [LSE:GLEN] (OTCPK:GLCNF)

On December 12 Mining Weekly reported:

Nickel Industries enters sales contract with Glencore. ASX-listed Nickel Industries has announced a maiden nickel matte sales contract with Glencore. The contract, starting in January and running for an initial six-month term, will see nickel matte from the company's Hengjaya Nickel project (HNI), in Indonesia, sold to Glencore, representing NCI's first sales to western customers.

BHP Group [ASX:BHP] (NYSE:BHP)

BHP's Nickel West (includes the Mt Keith nickel mine in Australia) has a Measured and Indicated Resource of 4.1Mt contained nickel with a Total Resource contained nickel of 6.3Mt, with an average grade of 0.58% Ni in sulphide ore. Nickel West produced 80 kt of nickel in FY 2020. Stage 1 production of the Kwinana Nickel Refinery is aimed to be 100ktpa nickel sulphate.

On December 15, Australian Financial Review reported:

BHP issues dire warning on nickel mines. The overhaul of the Albanese government's critical minerals strategy offers no relief to the besieged nickel industry, which faces further job losses at BHP-owned mines. BHP said its Nickel West business was not immune to the challenges suffocating the sector where some mines have shut down, and fellow producer Panoramic Resources was tipped into administration this week.

BHP's Nickel West operations

Anglo American [LSX:AAL] (OTCPK:AAUKF)

On December 8, Anglo American announced: "Anglo American unlocks value through operational, cost and capital discipline." Highlights include:

Guidance outlook:

...2024

• "Production expected to decrease by c.4%(2): production rescheduled to enhance value and reduce unit costs.
• Unit costs expected to decrease by c.2%(3): cost discipline more than offsetting inflation.
• Capex of c.$5.7 billion (a reduction of c.$0.8 billion) and includes Woodsmith..."

Eramet [FRA:ERA] (OTCPK:ERMAY)

No nickel related news for the month.

Sherritt International (OTCPK:SHERF)[TSX:S]

No news for the month.

IGO Limited [ASX:IGO] (OTC:IIDDY)

On December 11, IGO Limited announced: "Ivan Vella commences as CEO and Managing Director."

Panoramic Resources [ASX:PAN] (OTCPK:PANRF)

Panoramic's Savannah mine and mill has a forecast life of mine average annual production rate of 10,800t of nickel, 6,100t of copper and 800t of cobalt metal contained in concentrate.

On December 14, Panoramic Resources announced:

Appointment of Voluntary Administrators to Panoramic Resources Limited... As previously announced to the ASX and investors on November 16, 2023, being impacted by a falling nickel price, Panoramic initiated a strategic review... Panoramic retains sufficient cash to enable the Administrators to conduct this on a 'trade-on' basis, so that the mine will continue to operate, at least in the short-term, while the Administrators undertake this process.

Nickel 28 Capital Corp. [TSXV:NKL] [GR:3JC]

On December 19, Nickel 28 Capital Corp. announced: "Nickel 28 files fiscal Q3 financial statements." Highlights include:

• "Cash distribution from Ramu for H1 2023 operating surpluses of $4.8 million and repayment of $8.9 million of construction debt during the quarter for a total distribution of $13.7 million.
• Strong quarter end cash balance of $9.8 million.
• Total non-recourse construction debt of $49 million as at October 31, 2023.
• Production of 8,979 tonnes of contained nickel and 851 tonnes of contained cobalt in mixed hydroxide precipitate ("MHP") during the third calendar quarter, placing Ramu as one of the top producers of MHP globally.
• Sales of 8,832 tonnes of contained nickel and 836 tonnes of contained cobalt in MHP during the third calendar quarter.
• Actual cash costs for the third calendar quarter, net of by-product sales, of $2.77/lb. of contained nickel, a 29% decrease compared to Q2, largely as a result of reduced input commodity prices.
• Share of operating profit from Ramu of $3.7 million during the third calendar quarter.
• Total net and comprehensive income of $1.1 million ($0.01/share) for the three months ended October 31, 2023, largely as a result of the Company's share of operating profit from Ramu."

Nickel Industries Limited [ASX:NIC] (OTCPK:NICMF)

On December 11, Nickel 28 announced:

Nickel Industries trialing EV trucks in operations. Nickel Industries Limited (Nickel Industries or the Company) is pleased to advise it is trialing Electric Vehicles (EVs) within its operating fleet as part of its strategy to achieve a 50% reduction in carbon intensity by 2035 and net zero emissions by 2050. As the Company continues to take a leadership role in advancing the sustainability of Indonesia's nickel industry, the Company is now trialing the use of EVs across both its IMIP and Hengjaya Mine operations with each EV expected to deliver significant emission savings compared with traditional vehicles.

On December 12, Nickel 28 announced:

Nickel matte sales contract with Glencore. Nickel Industries Limited (Nickel Industries or the Company) is pleased to advise it has entered into a maiden nickel matte sales contract with Glencore AG (Glencore). The contract, commencing January 2024 and running for an initial 6-month term, will see nickel matte from the Company's Hengjaya Nickel Project [HNI] sold to Glencore and represents the Company's first direct sales to western customers...

Other nickel producers

First Quantum Minerals [TSX:FM] (OTCPK:FQVLF), Franco/Nevada [TSX:FNV], MMG [HK:1208], South32 [ASX:S32], Lundin Mining [TSX:LUN], Nickel Asia Corporation [PSE:NIKL], Platinum Group Metals' [TSX:PTM] (PLG), Sumitomo Metal Mining Co. (OTCPK:SMMYY).

Nickel juniors

Horizonte Minerals Plc [TSX:HZM] [AIM:HZM]

Horizonte is developing its 100% owned Araguaia Nickel Project (Araguaia) as Brazil's next major ferronickel mine.

On December 19, Horizonte Minerals Plc announced: "Araguaia Project update." Highlights include:

• "Demobilization well advanced with two critical construction activities continuing to progress.
• Consolidated cash position of US$42m as of December 15th 2023 which is expected to last until the end of January 2024.
• Positive discussions remain ongoing between lenders and cornerstone shareholders with regard to commercial terms for an interim financing solution to extend this period.
• The Company and independent consultants continue to review the outstanding Project capital expenditure and schedule re-estimate, necessary to implement a full funding solution."

On December 27, Horizonte Minerals Plc announced:

Horizonte signs interim US$20 million funding package... provided by Orion, Glencore and La Mancha... The funding package is expected to provide liquidity while a full funding solution is progressed. Agreement with existing Senior Lenders to defer interest payments due 31 December 2023...

Poseidon Nickel [ASX:POS] (OTC:PSDNF)

On December 18, Poseidon Nickel announced: "Exploration & gold tailings update." Highlights include:

Maggie Hays West prospect returns positive assay results

• "Latest drill assay results confirm a strong, 1km coherent Ni-Cu-PGE regolith anomaly at Maggie Hays West. Drill results include: PLJA176: 36m @ 0.99% Ni, 286ppm Cu, 141ppb PGE... PLJA177: 21m @ 1.13% Ni, 374ppm Cu, 136ppb PGE...
• Maggie Hays West is confirmed as a compelling and exciting regional nickel sulphide target and further drilling to progress this exciting target is warranted."

Regional nickel targets along the Western Ultramafic Unit

• "Final assays from the latest program testing other prospective regional targets remain outstanding, including some PGE results from Maggie Hays West."

Windarra

• "External consultant engaged to undertake further exploration targeting.
• Ongoing engagement with multiple parties showing renewed interest in the Windarra and Lancefield gold tailings projects as well as the South Windarra water resource."

Talon Metals [TSX:TLO] (OTCPK:TLOFF) Tamarack - (JV with Rio Tinto)

Tamarack is a high grade nickel-copper-cobalt project located in Minnnesota, USA, with considerable exploration upside. Talon Metals owns a 51% project share, with potential to further earn-in to a 60% share by 2026.

No significant news for the month.

Garibaldi Resources [TSXV:GGI] [GR:RQM] [LN:OUX6] (OTCPK:GGIFF)

No news for the month.

St George Mining Ltd. [ASX:SGQ] [GR:SOG]

The Cathedrals, Stricklands and Investigators nickel-copper discoveries (at Mt Alexander) are located on E29/638, which is held in joint venture by Western Areas Limited (25%) and St George (75%). St George is the Manager of the Project with Western Areas retaining a 25% non-contributing interest in the Project (in regard to E29/638 only) until there is a decision to mine.

On December 27 St George Mining reported:

EXPLORATION UPDATE. Strong Foundations for Growth of Lithium and Battery Metals Projects in Western Australia...

Note: Mostly focused on lithium.

Queensland Pacific Metals [ASX:QPM]

On December 8, Queensland Pacific Metals announced:

Successful HPA Demonstration Plant Campaign... 6 x ~10 kg 4N HPA blends have been transported to the United States to provide to potential offtakers. Initial target offtakers are from the LED market...

Premium Nickel Resources Corporation [TSXV:PNRL](OTCQX:PNRLF)

On December 14, Premium Nickel Resources Corporation announced:

Premium Nickel Resources Ltd. announces closing of previously announced equity and debt financing package of $21.6 million...

On December 19, Premium Nickel Resources Corporation announced:

Premium Nickel reports assays and extension of historic resource at Selebi North Underground. 10.45 metres of 1.45% NiEq (0.48% Ni; 1.82% Cu; 0.02% Co)... CEO, Keith Morrison said, "Most recently, drillhole SNUG-23-017, while being extended to be used as an underground BHEM platform, intersected N2 Limb mineralization 180 metres down-plunge of the wire frame of the historic resource. This intersection confirms that mineralization continues to depth beyond the bottom of the legacy resource."

Canada Nickel Company [TSXV:CNC](OTCQX:CNIKF)

On December 18, Canada Nickel Company announced:

Canada Nickel provides financing update. Canada Nickel Company Inc. ("Canada Nickel" or the "Company") (TSXV: CNC) (OTCQX: CNIKF) today announced that it has extended the repayment date of the US$12 million loan facility announced September 18, 2023 with Auramet International, Inc. ("Auramet") to January 18, 2024 by agreeing to issue 350,000 one year common share purchase warrants with a strike price of $1.19 per share and pay an extension fee of 1.5% of the repayment amount of US$185,519. The loan will carry an interest rate of 1.25% per month for the extension period. The warrants and the underlying shares will be subject to a four month hold period under applicable Canadian securities laws. The extension is also subject to TSX-V approval.

Ardea Resources [ASX:ARL] (OTCPK:ARRRF)

In total, Ardea has 6.1Mt of contained nickel and 386,000t of contained cobalt at their KNP Project near Kalgoorlie in Western Australia. Ardea is also exploring for gold and nickel sulphide on their >5,100 km2 of 100% controlled tenements in the Eastern Goldfields region of Western Australia.

On December 15, Ardea Resources announced:

Nickel sulphide prospectivity confirmed and Lithium-Caesium-Rubidium bearing intrusives in Highway EIS drillhole... Petrological studies confirm the key nickel sulphide mineral pentlandite is present in AHID0024. The Walter Williams Formation (WWF) komatiite ultramafic within the Goongarrie Hub is demonstrated to be fertile for nickel sulphide mineralisation...

On December 21, Ardea Resources announced: "Ardea and Japanese Consortium: Update on progress on KNP - Goongarrie Hub." Highlights include:

• "Ardea continues to make substantial progress on the Kalgoorlie Nickel Project - Goongarrie Hub Definitive Feasibility Study [DFS] scope with a consortium (Consortium) consisting of Sumitomo Metal Mining (SMM) and Mitsubishi Corporation (MC).
• Following multiple site visits and technical meetings in Perth, the Consortium has made significant progress towards completion of its technical due diligence and Ardea continues to advance time critical workstreams ahead of Final Agreements.
• SMM and MC have reaffirmed their commitment to continue negotiations under the MOU and continuing discussions with Ardea. Mitsui & Co., Ltd (Mitsui) has elected to withdraw from the Consortium.
• Ardea and the Consortium have agreed to extend the timing to agree the DFS scope and the completion of the Consortium's due diligence by the end of February 2024 and have reaffirmed their commitment to continue to negotiate binding Final Agreements, that are expected to be executed by the end of Quarter 1 (Q1), 2024.
• Future work is aimed at completing the DFS, making a Final Investment Decision [FID] and securing project development funding for the Goongarrie Hub to become a globally significant producer of nickel-cobalt for the Lithium-Ion Battery sector, with Final Agreements expected in Q1, 2024."

Centaurus Metals Limited [ASX:CTM] (OTCQX:CTTZF)

Centaurus Metals is an Australian-based minerals exploration company focused on the near-term development of the Jaguar Nickel Sulphide Project, in Northern Brazil.

No news for the month.

Alliance Nickel [ASX:AXN] (formerly GME Resources)

No significant news for the month.

Widgie Nickel [ASX:WIN]

On December 13, Widgie Nickel announced: "Armstrong Mineral Resource Update." Highlights include:

• "Total Resource of 959Kt @ 1.4% Ni for 13,820 nickel tonnes.
• 19% increase in Indicated resources to 13,720 nickel tonnes versus the 2022 Mineral Resource Estimates (MRE).
• 99% of sulphide resource is now in the Indicated Resource Category."

Sama Resources [TSXV: SME] [GR;8RS] (OTCPK:SAMMF)

No significant news for the month.

Murchison Minerals [TSXV:MUR] (OTCQB:MURMF)

On December 14, Murchison Minerals announced:

Murchison Minerals announces non-brokered private placement. Murchison Minerals Ltd... intends to raise up to $1,500,000 in a non-brokered private placement (the "Offering"), with the proceeds directed towards the Company's 2024 winter exploration activities at its 100%-owned BMK Zn-Cu-Ag project in Saskatchewan and working capital.

Power Nickel [TSXV:PNPN] (CMETF)

On November 29, Power Nickel announced:

In excess of 5.4 million indicated tonnes grading 1.05% NiEq and 1.8 million inferred tonnes grading 1.35% NiEq. Power Nickel Inc. (the "Company" or "Power Nickel") (TSXV: PNPN) (OTCBB: PNPNF) (Frankfurt IVV) is pleased to release the initial NI 43-101 Mineral Resource Estimate on its "NISK" Nickel Sulphide project, located near Nemaska, James Bay, Québec...Power Nickel is proud to announce 5.43M tonnes of indicated resources at a weighted average grade of 1.05 % NiEq and 1.79M tonnes of Inferred resources at a grade of 1.35 % NiEq, using a NiEq cut-off grade of 0.20% inside the open pit and 0.55 % for the underground portion...

On December 4, Power Nickel announced: "Power Nickel closes $0.90 per share flow-through financing of $2.75 million..."

On December 12, Power Nickel announced: "Power Nickel files complaint on widespread potential illegal short selling of its shares..."

The Metals Company (TMC)

On November 29, The Metals Company announced:

New Benchmark study highlights impacts of nickel and cobalt mining on critical forested carbon sinks amid battery metals boom... The study finds that 1 kg of nickel mined from saprolite and limonite ore in Sulawesi removes forests containing carbon stock equivalent to 7.0 and 9.4 kg of CO₂e, and 1 kg of cobalt mined in Katanga removes 3.6 kg of CO₂e. Resulting vegetation change also causes carbon sequestration services loss of 4.8g and 6.5g of CO₂e respectively for nickel, and 9.3g of CO₂e for cobalt per year.

On December 12, The Metals Company announced:

Thirty-one members of congress call upon Pentagon to develop plan for processing deep-sea polymetallic nodules...

On December 14, The Metals Company announced: "TMC subsidiary NORI shares preliminary findings on environmental impacts of pilot nodule collection system test." Highlights include:

• "Nauru Ocean Resources Inc. (NORI) has begun sharing emerging data on impacts of seafloor sediment plumes one year on from its 2022 test mining campaign.
• Building upon earlier laboratory predictions and in-field verifications, NORI now has multiple lines of evidence that indicate that the seafloor plume forms a gravity-driven turbidity current that hugs the seafloor and does not loft into the water column to be transported long distances by ocean currents, as has been widely speculated.
• Additional qualitative data acquired this month using a Remotely Operated Vehicle (ROV) at the seafloor in the NORI-D area show that sessile organisms identified during NORI's environmental baseline studies are still present twelve months after its pilot nodule collection system test in areas that have been influenced by the seafloor plume.
• In the coming months, NORI will release additional data on midwater sediment plumes which will further address concerns as to the scope and scale of their distribution."

On December 28, The Metals Company announced: "TMC subsidiary NORI completes key offshore research campaign, evaluating seafloor ecosystem function a year post nodule collection test." Highlights include:

• "Researchers with Nauru Ocean Resources Inc. (NORI) successfully gathered further environmental data on ecosystem recovery and functioning as part of its Environmental and Social Impact Assessment (ESIA) to characterise the potential impacts of proposed polymetallic nodule collection operations.
• Despite illegal disruptions from Greenpeace International aimed at hindering the collection of environmental data, researchers were able to complete the major components of the scientific work scope slated for the campaign, and are encouraged by preliminary qualitative assessments.
• Scientists used several seafloor sampling devices, a remotely operated vehicle and lander systems to assess impacts to biota, seafloor geochemistry and ecosystem recovery on the seafloor in the NORI-D area of the Clarion Clipperton Zone (CCZ).
• Building on the rich data gathered from 20 offshore campaigns over the last 11 years, with cumulative ESIA spending of ~$150 million, the results from the latest campaign will inform NORI's application to the International Seabed Authority (ISA) for a commercial exploitation contract."

Other juniors

Artemis Resources [ASV:ARV], Australian Mines [ASX:AUZ], Azure Minerals [ASX:AZS] (OTCPK:AZRMF), Blackstone Minerals [ASX:BSX], Cassini Resources [ASX: CZI], Class 1 Nickel and Technologies Ltd. [CSE:NICO] (OTCQB:NICLF), Electra Battery Materials [TSXV:ELBM] (ELBMF), Electric Royalties [TSXV:ELEC], EV Nickel [TSXV:EVNI] (OTC:EVNIF), Flying Nickel Mining Corp. [TSXV:FLYN], FPX Nickel [TSXV:FPX], Grid Metals Corp [TSXV:GRDM], Go Metals [CSE:GOCO] (OTCPK:GOCOF), Huntsman Exploration [TSXV:HMAN] (OTCPK:BBBMF), Inomin Mines [TSXV:MINE], Jervois Global Limited [ASX:JRV] (OTCQX:JRVMF), New Age Metals [TXV:NAM], Nickel Creek Platinum [TSX:NCP] (OTCQX:NCPCF), Nordic Nickel Limited [ASX:NNL], Pancontinental Resources Corporation [TSXV:PUC], Polymet Mining [TSX:POM], Renforth Resources [CSE:RFR] (OTCQB:RFHRF), Rox Resources [ASX:RXL], S2 Resources (ASX:S2R), Stillwater Critical Minerals [TSXV:PGE] (OTCQB:PGEZF), Sunrise Energy Metals [ASX:SRL] (OTCQX:SREMF), Surge Battery Metals Inc. [TSXV:NILI] [FRA:DJ5C] (OTCPK:NILIF), Talisman Mining Ltd. [ASX:TLM], Tartisan Nickel Corp. [CSE:TN] (OTCQX:TTSRF), Transition Metals [TSXV:XTM], URU Metals Ltd. [LSE:URU] [GR:NVRA], Wall Bridge Mining [TSX:WM], and Zeb Nickel Corp. [TSXV:ZBNI] (OTCQB:ZBNIF).

Note: Some of the above companies are covered in the Cobalt monthly news.

Nickel miners ETF

Below is the Sprott Nickel Miners ETF. You can view the top holdings here.

Sprott Nickel Miners ETF (NIKL) one year price chart - Price = US$14.18

Conclusion

Nickel spot prices were flat the last month.

Highlights for the month were:

• The U.S DoE releases proposed interpretive guidance on Foreign Entity of Concern ("FOEC") rules... beginning in 2025, an eligible clean vehicle may not contain any critical minerals that were extracted, processed or recycled by a FEOC.
• Ford acquires stake in Indonesia nickel project.
• Nickel 2024 outlook - Supply is set to outpace growth, which will suppress prices and exert pressure on producers' margins. International Nickel Study Group expects the global nickel surplus to widen to a record 239,000t in 2024.
• Nickel is year's biggest metals loser, copper manages small gain.
• BHP issues dire warning on nickel mines.
• IGO Limited - Ivan Vella commences as CEO and Managing Director.
• Nickel Industries enters nickel matte sales contract with Glencore.
• Nickel 28 - Cash distribution from Ramu for H1 2023 operating surpluses of $4.8m and repayment of $8.9m of construction debt during the quarter.
• Nickel Industries trialing EV trucks in operations. Enters off-take deal with Glencore.
• Panoramic Resources collapses into Voluntary Administration.
• Horizonte Minerals signs interim US$20 million funding package. Reviewing the outstanding Project CapEx and schedule re-estimate, necessary to implement a full funding solution.
• Premium Nickel Resources closes equity and debt financing package of $21.6 million. Drills 10.45 metres of 1.45% NiEq (0.48% Ni; 1.82% Cu; 0.02% Co) at Selebi North Underground.
• Widgie Nickel announces Armstrong Total Resource of 959Kt @ 1.4% Ni for 13,820 nickel tonnes.
• Power Nickel reports a Resource of 5.4 Million Indicated Tonnes grading 1.05 % NiEq and 1.8 Million Inferred tonnes grading 1.35 % NiEq. at NISK.
• TMC - Thirty-one members of congress call upon Pentagon to develop plan for processing deep-sea polymetallic nodules.

As usual all comments are welcome.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

(TheNewswire)

Vancouver, BC – TheNewswire - December 6, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (CSE:RR) (OTC:RECHF) (Frankfurt:SL5)is pleased to provide the following update on the Company’s Pocitos One Lithium Brine Project (“Pocitos 1” or “the Project”) located near Pocitos township in Salta Province, Argentina.

This is another milestone in the Company's endeavour to build up to a 20,000-tonne Ekosolve™ direct lithium extraction (“DLE”) plant at the Pocitos project in order to supply Richlink Capital Pty. Ltd. (“Richlink”) up to 20,000 tonnes of lithium carbonate per year, as previously announced under a letter of intent of offtake.

As reported on January 31st, 2023, 200 litres of brine were collected to be sent to University of Melbourne for testing to ascertain the recovery that was 94.9% using the EkoSolve™ processing system and 99.89% purity of the lithium carbonate. These brines were specially prepared for transit to Australia to maintain their content integrity.

The full NI 43-101 Report dated June 30th, 2023, and entitled “Technical Report For The Pocitos Salar Lithium Concession, Salta Province, Argentina”, can be found on the Company’s website and on SEDAR+ under the Company’s issuer profile at www.sedarplus.ca.

About Pocitos Lithium Brine Project

The Pocitos 1 Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares and is accessible by road. Collective exploration totals over US$2.0 million developing the project, including surface sampling, trenching, TEM and MT geophysics and drilling three wells that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.

Lithium values of 169 ppm from drill hole 3 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates. A NI 43-101 report has been released on the Pocitos 1 project.

Recharge is awaiting the completion of the process engineering work to be completed by Ekosolve Ltd to produce and assay the lithium carbonate being produced, where extraction was above 94% of the contained lithium in the brine i.e. 158.86ppm of lithium would have been recovered from 169ppm.

WSP is waiting on the relogging of the cores to be completed before it delivers the Company’s maiden resource estimate at Pocitos 1 that will result in an update of the NI 43-101 report completed by QP Phillip Thomas in June 2023.

Click Image To View Full Size

Figure 1. Pocitos Lithium Claim Map

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.

Mr. Thomas has joined the Company in the capacity of COO on 21 November 2023. He is a shareholder and Officer.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.

On Behalf of the Board of Directors

“David Greenway”

David Greenway, CEO

For further information, please contact:

Recharge Resources Ltd.
Joel Warawa
Phone: 778-588-5473
E-Mail: info@recharge-resources.com
Website: recharge-resources.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause real results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause real results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why real results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

###

Copyright (c) 2023 TheNewswire - All rights reserved.

Vancouver, British Columbia --News Direct-- Recharge Resources Ltd.

Vancouver, BC - TheNewswire - December 13, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) is pleased to announce that the Company has adopted a formal Environmental Social Governance (“ESG”) Policy ahead of its highly anticipated NI 43-101 maiden resource estimate at the Pocitos One Lithium Brine Project (“Pocitos 1” or “the Project”) located near Pocitos township in Salta Province, Argentina.

The Company previously announced it had executed a technology licence agreement for countrywide use of Ekosolve™️ Lithium Solvent Extraction (“Ekosolve™️”) equipment to build a lithium plant capable of producing up to 20,000 tonnes of lithium carbonate annually at the Pocitos 1 Lithium Project in Salta, Argentina.

Ekosolve™️ process can efficiently manage the processing of the brines to produce lithium chloride or lithium carbonate with a grade higher than 99.5% and a recovery of more than 95%, far exceeding any published Direct Lithium Extraction method available to date.

The key advantage of the Ekosolve™️ system is the high rate of lithium yield targeting 95%+. Critically, operating costs are reduced by more than 90% as more than 98.5% of the solvent is reclaimed after each cycle. The solvents are biodegradable. Other DLE systems such as adsorption may achieve 72-80% yield, fractional crystallization of 50-70%, and ion exchange up to 80% with requirements of high lithium concentrations and neutral pH. In adsorption and ion exchange systems, extra processes may be required to manage the magnesium and boron in the brines whereas this is not an issue with the Ekosolve™️ process.

For Recharge Resources, the expected capital expenditure and operational costs are projected to be significantly lower. A key advantage of this approach is that it eliminates the need for evaporation ponds, resulting in a more environmentally friendly solution.

Story continues

The agreement contemplates the development of a multi-phase build out to 20,000 tonne per year output of lithium carbonate at the Pocitos 1 Lithium Brine Project. Upon commencement of production at the Pocitos 1 Project, a licence fee equal to 5% of delivered product will be due to Ekosolve™️. Further scoping studies and permitting will be required to begin construction of the plant.  Preliminary planning has commenced with water and quarry permits for earthworks being prepared.

David Greenway, CEO of Recharge, stated, “Recharge aspires to become a leader in the battery minerals industry to support the transition to a carbon-free economy, while growing shareholder value through the sustainable development and operation of our assets.”

The ESG policy extends beyond just the corporate offices and project sites; it also encompasses all existing and future operational locations throughout their entire lifecycle. This ensures a comprehensive approach to environmental, social, and governance aspects in all areas of operation.

” As we embark on our journey at the Pocitos Lithium Brine Project we look to embed our new ESG policy into every corporate, development and operational aspect of our business throughout their lifecycles, we do so believe that this approach will maximise the benefits our organisation delivers to all stakeholders for the long term.” Recharge’s Greenway said.

The Company expects all business partners to adhere to the policy and will work with them to achieve compliance. More about the Company’s newly adopted ESG policy will be uploaded to the company’s website.

About Pocitos Lithium Brine Project

The Pocitos 1 Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos 1 is approximately 800 hectares and is accessible by road. Collective exploration totals over US$2.0 million developing the project, including surface sampling, trenching, TEM and MT geophysics and drilling three wells that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.

Click Image To View Full Size

Lithium values of 169 ppm from drill hole 3 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates. A NI 43-101 report has been released on the Pocitos 1 project.

Figure 1. Pocitos Lithium Claim Map

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein.

Mr. Thomas has joined the Company in the capacity of COO on 21 November 2023. He is a shareholder and Officer.

RSU Issuance

Recharge announces it has granted 1,800,000 restricted share units (“RSUs”) to consultants of the Company.  The RSUs are valid for a term of one year and under the terms of the Company’s restricted share unit plan (the “RSU Plan”).

About Recharge Resources

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.

On Behalf of the Board of Directors

“David Greenway”

David Greenway, CEO

For further information, please contact:

Recharge Resources Ltd.Joel WarawaPhone: 778-588-5473E-Mail: info@recharge-resources.comWebsite: recharge-resources.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause real results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause real results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why real results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

###

View source version on newsdirect.com: https://newsdirect.com/news/recharge-resources-adopts-esg-policy-ahead-of-ni-43-101-resource-estimate-527257400

Ni Hsin Group Berhad, an investment holding company, designs, manufactures, and sells stainless steel kitchenware and cookware products. It operates through Cookware, Stainless Steel Products, Food and beverages, Logistics services, and Others segments. The company provides a range of stainless-steel multi-ply cookware products, including pressure cookers, pots, woks, and sauce pans for household and commercial use, as well as fry pans and rice bowls. It also offers multi-ply stainless steel-clad metals for use in houseware, electrical appliances, automotive, and chemical industries. In addition, the company provides stainless steel convex mirrors, non-stick coating cookware products, and stainless-steel water filters, as well as original equipment manufacturing and original design manufacturing services to customers selling cookware on their own brand names. Further, it manufactures and distributes health and bioenergy beverages in capsules under BLACKBIXON brand name; and assembles, promotes, and markets various electric vehicles. Additionally, it markets and distributes cookware and kitchenware products; markets and trades in personal protective equipment, cooking oil, foodstuffs, and dairy products; engages in the direct sales business of home appliances, food and beverages products, and energy drinks; and operates as a logistics provider, general carriers forwarding agents, and courier and cargo handlers and contractors; offers transport services; and operates BlackBixon Café & Restaurant. The company serves customers in Japan, Korea, Malaysia, Singapore, China, Taiwan, Hong Kong, Thailand, Indonesia, Europe, the United States, Canada, Australia, and internationally. The company was formerly known as Ni Hsin Resources Berhad and changed its name to Ni Hsin Group Berhad in August 2021. Ni Hsin Group Berhad was founded in 1957 and is based in Seri Kembangan, Malaysia.

Read More

VANCOUVER, BC / ACCESSWIRE / December 15, 2023 / Sierra Madre Gold and Silver Ltd. (TSXV:SM),(OTCQX:SMDRF) ("Sierra Madre" or the "Company") has filed a technical report, prepared in accordance with the National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") for its La Guitarra silver-gold mine and the Temascaltepec mining district ("La Guitarra") in Estado de Mexico, Mexico. Sierra Madre previously released the results of the Mineral Resource Estimate (the "MRE") on November 1, 2023. The technical report is available on SEDAR+ under the Company's profile at www.sedarplus.com and on the Company's website at www.sierramadregoldandsilver.com TechSer Mining Consultants Ltd. ("TechSer") of Vancouver B.C. prepared the Mineral Resource Estimate, David Thomas, P.Geo. and QP Geology and Cristian Garcia, P.Eng. and QP Mining.

Key Highlights of the MRE include:

• 373% increase to 27.2M oz Silver Equivalent ("AgEq") Indicated Resource
• 204% increase to 20.2M oz AgEq Inferred Resource

The following tabulates the La Guitarra estimated Mineral Resources.

Table 1: Summary La Guitarra 2023 Mineral Resource Estimate, David G. Thomas P. Geo (Effective Date: October 24, 2023)

1. See notes following Table 3

The following tabulates the Mineral Resource Estimates by Classification and Area.

Table 2: Indicated Mineral Resource Estimate

Table 3: Inferred Mineral Resource Estimate

(1) Notes for Mineral Resource Estimate:

1. Canadian Institute of Mining Metallurgy and Petroleum ("CIM")definition standards were followed for the resource estimate.
2. The 2023 resource models used nominal cutoff grades which are based on mining and milling costs of US$50 for cut and fill mining, US$38 per tonne for long-hole,
3. A net payable recovery of 70% (historical plant recovery plus an allowance for smelter deductions, refining costs, and concentrate transportation)
4. Silver price of US$22 and a gold price of $1700 and a Gold Silver Ration of 77.27:1.
5. Assays were capped at 825 g/t for silver and 6.55 g/t for gold
6. Variable cut-off by deposit
   1. Nazareno and Coloso - Block Model 135 AgEq cut-off grade (COG) and a 1 m Minimum True Thickness
   2. Guitarra - Polygonals Estimates 135 g/t AgEq COG and a 1 m Minimum Horizontal Width
   3. Los Angeles - Block Model Long Hole Mining 90 g/t AgEq COG
   4. Mina De Agua - East District Polygonal Estimate 135 g/t AgEq COG or 90 g/t AgEq COG and > 2 m Horizontal Width
   5. The tailings used a 30 g/t AgEq COG.
7. Mineral Resources that are not mineral reserves do not have economic viability. Numbers may not add due to rounding.
8. Numbers may not add due to rounding.
9. The estimate of mineral resources may be materially affected by: metal prices and exchange rate assumptions; changes in local interpretations of mineralization geometry and continuity; changes to grade capping, density and domain assignments; changes to geotechnical, mining and metallurgical recovery assumptions; ability to maintain environmental and other regulatory permits and ability to maintain the social license to operate
10. The 2023 resource estimate is prepared by David Thomas P.Geo. and Q.P. and Cristian Garcia P.Eng. and QP, of TechSer in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects. David Thomas and Cristian Garcia are independent qualified person ("QP's") as defined by National Instrument 43-101. A full technical report, has been prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has been filed and is available under the Company's SEDAR+ profile at www.sedarplus.com within 45 days of this news release.

Qualified PersonMr. Gregory Smith, P. Geo, Director of Sierra Madre, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has Verified the technical and scientific data disclosed herein.

About Sierra Madre

Sierra Madre Gold & Silver (TSXV:SM),(OTCQX:SMDRF) is a precious metals development and exploration company, focused on evaluating the potential of restarting the La Guitarra Mine in the Temascaltepec mining district, Mexico, and the exploration and development of its Tepic and La Tigra properties in Nayarit, Mexico. The La Guitarra Mine is a permitted, past-producing underground mine which includes a 500 t/d processing facility that operated until mid-2018.

The +2,600 ha Tepic Project hosts low-sulphidation epithermal gold and silver mineralization with an existing historic resource. La Tigra, located 148 km north of Tepic, has been mined historically; Sierra Madre´s maiden 2022 drill program at the site intercepted shallow mineralization.

Sierra Madre´s management has played key roles for managing exploration and development of more than 22Moz gold and 600Moz silver in combined reserves and resources. Sierra Madre´s team of professionals has collectively raised over $1B for mining companies.

On behalf of the board of directors of Sierra Madre Gold and Silver Ltd.,

"Alexander Langer"

Alexander Langer

President, Chief Executive Officer and Director

1-604-765-1604

Contact:

investor@sierramadregoldandsilver.com

Cautionary Note

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 news release.

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation. The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking information in this press release includes, but is not limited to, statements with respect to the completion of the Transaction on the terms set out in the definitive agreement (or at all) and the ability of the Company to obtain requisite corporate and regulatory approvals for the Transaction, including but not limited to the approval of the Exchange, Mexican antitrust approval and other governmental approvals as currently anticipated.

In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including that the Company will be able to receive all required regulatory approvals by the timelines currently anticipated (or at all); and that the Company will be able to complete the Transaction on the terms of the definitive agreement. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company´s real results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the risk that the Company is not able to complete Transaction on the terms set out in the definitive agreement (or at all) and the risk that the Company is unable to obtain requisite corporate and regulatory approvals, including but not limited to the approval of the TSX Venture Exchange, the Mexican antitrust approval and governmental approval as currently anticipated.

Such forward-looking information represents management´s best judgment based on information currently available. No forward-looking statement can be guaranteed and real future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.

SOURCE: Sierra Madre Gold and Silver

View the original

on accesswire.com

Vancouver, British Columbia --News Direct-- Recharge Resources Ltd.

Vancouver, BC - TheNewswire - December 20, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) is pleased to announce the Inferred Mineral Resource Estimate (“MRE”) for its Pocitos I and II Lithium Brine Project (“Pocitos” or “the Project”) located in Salta Province Argentina has been estimated at 143,000 tonnes of lithium metal, which when calculated for lithium carbonate equivalent (“LCE”) is 760,000 tonnes – enough for a 38 year mine life at 100% recovery assumption.

The inferred MRE technical report (the “Report”) was authored by WSP Australia Pty Ltd. (“WSP”) and calculated the MRE with a cut off grade of 100 ppm lithium at 78,000 tonnes of lithium metal or 414,000 tonnes of LCE. This would provide a 20-year mine life.

WSP indicated in the Report at the December 4, 2023, Li2CO3 price of USD $16,573/tonne, the annual revenue is estimated at USD$338 million.

Table 1. Pocitos project MRE with no lithium cutoff grade applied – lithium metal 143,000 tonnes.

Table Notes: (1) Grade values are the average estimated value for the domain in the Vulcan™ Block Model, (2) Total in-situ contained lithium metal, (3) Extractable LCE, (4) No recovery, dilution or other similar mining parameters have been applied, (5) Although the Mineral Resources presented in this Technical Report are believed to have a reasonable expectation of being extracted economically, they are not Mineral Reserves. Estimation of Mineral Reserves requires the application of modifying factors and a minimum of a Pre-feasibility Study (PFS). The modifying factors include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social, and governmental factors.

Continuar leyendo la historia

WSP has provided a very detailed block model of approximately 200m of depth in its inaugural NI 43-101 compliant MRE and estimated the cost to achieve the next milestone of a measure and indicate resource by drilling one exploration and one production well.  Total estimated cost of approximately USD$935,000 (plus taxes), or CAD $1,300,000 (plus taxes) for the proposed two well program. The report includes some of the cost estimates from Ekosolve Limited (“Ekosolve™”) for a 20,000-tonne lithium carbonate plant using solvent extraction that is inclusive of a HCl acid plant and a lithium carbonate plant. Block grades were checked visually onscreen using Maptek Vulcan™ software and viewed in cross-sections and plans against the drill hole composites grades (Figure 14.6, and Figure 14.7 of the WSP report). This comparison provided good correlation between the input data and estimated values. No obvious discrepancies were observed.

David Greenway, President, and CEO, expressed his enthusiasm: “I am thrilled with the estimated outcome of 760,000 tonnes of LCE, a testament to the dedicated efforts of WSP Global geologists, hydrologists, and project engineers over the past three months. This estimate, coupled with the impressive projection of annual revenue at USD $338 million, underscores the potential of our project. We are advancing vigorously on all fronts, especially with our inaugural NI 43-101 and an upcoming drill program, to further capitalize on this highly prospective report. These developments herald an exciting new phase for Recharge and its stakeholders at the Pocitos Project.”

Phillip Thomas the Company’s QP, COO and Director recently made a visit to Shanghai, China and met with Richlink Capital Pty Ltd. (“Richlink”) and its clients and inspected a lithium chloride, and lithium n-butyl plant.

WSP utilized information gathered from the NI 43-101 technical report dated 30 June 2023 completed by Panopus Pte Ltd (“Panopus”) and the May 2023 MT Survey, 2018 TEM survey, drilling programs, core logs and core porosity data from Geoanalysis and Core Laboratories to prepare the Resource Estimate.  This is another milestone in the Company's endeavour to build up to a 20,000-tonne Ekosolve™ direct lithium extraction (“DLE”) plant at the Pocitos project in order to supply Richlink clients up to 20,000 tonnes of lithium carbonate per year, as previously announced under a letter of intent of offtake.

Figure 1: Satellite image showing the Pocitos I and II Concessions (Posgar 2007 Argentina 3)

The full NI 43-101 Report dated June 30, 2023, and entitled “Technical Report For The Pocitos Salar Lithium Concession, Salta Province, Argentina”, can be found on the Company’s website

www.recharge-resources.com and on SEDAR+ under the Company’s issuer profile at www.sedarplus.ca .

About Pocitos Lithium Brine Project

The Pocitos Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos is approximately 800 hectares and is accessible by road. Collective exploration totals over US$2.0 million developing the project, including surface sampling, trenching, TEM, and MT geophysics, and drilling three wells that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.  Lithium values of 169 ppm from drill hole 3 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates.

Ekosolve™ produced lithium carbonate at a purity of 99.89%, where extraction of the lithium from the brines was above 94% i.e. 159ppm of lithium would have been recovered from 169ppm.

Figure 2: shows the location of the Project, and the road access to the project from Salta.

Figure 3: View of the mining road to exploration well PCT-22-01 (Pocitos I) (Panopus 2023)

The NI 43-101 technical report titled “NI 43-101 Technical Report Pocitos I and II, Salta Province, Argentina” and dated December 18th, 2023 will be filed on SEDAR+ under the Company's profile at www.sedarplus.ca and will also be available on the Company’s website.

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr. Thomas has joined the Company in the capacity of COO and Director on 21 November 2023. He is a shareholder.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.

On Behalf of the Board of Directors

“David Greenway”

David Greenway, CEO

For further information, please contact:

Recharge Resources Ltd.Joel WarawaPhone: 778-588-5473E-Mail: info@recharge-resources.comWebsite: recharge-resources.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause real results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause real results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why real results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

###

View source version on newsdirect.com: https://newsdirect.com/news/pocitos-lithium-ni-43-101-inferred-mineral-resource-estimated-at-143-000-tonnes-lithium-metal-760-000-tonnes-lithium-carbonate-equivalent-925138062

A new emotional support and resilience building program for college students is scaling up at institutions across the nation, offering a new resource to campuses that continue to struggle serving the large number of students experiencing mental health concerns.

RADical Health is a four-week class that helps equip college students with coping strategies they can use before reaching a crisis point that might require intervention by a professional. The curriculum stresses skills like mindfulness, active listening and communication, self-care, decision making, and time management.

The program was developed by the RADical Hope Foundation, which was founded by Pam and Phil Martin in honor of their son, Chris, who died by suicide in the Fall of 2017. “Our mission is to break the grip of emotional isolation that is killing our young people. We do this by expanding and delivering measurable, science-based programs that fill critical gaps and equip America’s youth with the skills they need to thrive,” said Pam Martin.

The RADical Health curriculum was designed in 2020 in partnership with New York University and in consultation with numerous behavioral health experts to ensure that it was well-grounded in empirical research. And it’s also based on what the developers heard from talking to hundreds of students across the country to learn directly about their greatest stressors and the skills they needed to help cope with emotional crises.

RADical Health will be in place at more than 30 colleges and universities across the nation this fall, including Amherst College, Fairfield University, Delaware State University, Drew University, Emmanuel College, Metropolitan State University of Denver, New York University, Pace University, Prairie View A&M University, the University of Akron, and Wesleyan University. More than a third of the partners will be HBCU’s (Historically Black Colleges and Universities) or HSIs (Hispanic Serving Institutions).

The classes (you can see an example that was recently featured on NBC TODAY) are led typically by peer guides, although in a few cases faculty serves as the leaders, covering the following sequence of topics:

• How Do I Connect? Strengthening Emotional Intelligence
• What Matters To Me? Principles & Priorities
• Why Am I Stressed? Building Resilience
• Where Do I Go From Here? And How Do I Get There?

Some colleges supplement the class with additional resources. For example, New York University added “career readiness skills” to the program, resulting in an opportunity for participants to earn a “Career Accelerator” certificate. Wesleyan University added a fifth week to the program focused on diversity, equity and inclusion and its importance at Wesleyan.

RADical Health also customizes an online platform for every college partner so that students can use the program as an on-ramp to their own school’s resources and activities.

RADical Hope funds every element of the program for all the institutions that host it so it’s free for all students, and it costs institutions nothing to offer it. The expenses typically now run about $50,000 per institution. The Foundation’s funding has come largely from private and corporate donors, with major financial and in-kind support provided by organizations such as Bank of America, the National Football League, and Warner Brothers Discovery.

According to RADical Hope’s Liz Feld, who became its CEO in 2019, the program’s goal is to reach one million participants as soon as possible. She plans to use the National Governors Association and direct contact with state governors to help build the program’s scale.

Feld believes a key advantage of the program is its emphasis on peer guidance and support. As she told me, “so many students have concerns that don’t require a professional clinician; they can benefit greatly from the understanding, help and wisdom of their fellow students, and that’s what RADical Health offers.”

Vancouver, British Columbia --News Direct-- Recharge Resources Ltd.

Vancouver, BC - TheNewswire - December 20, 2023 - Recharge Resources Ltd. ("Recharge" or the "Company") (RR:CSE) (RECHF:OTC) (SL5:Frankfurt) is pleased to announce the Inferred Mineral Resource Estimate (“MRE”) for its Pocitos I and II Lithium Brine Project (“Pocitos” or “the Project”) located in Salta Province Argentina has been estimated at 143,000 tonnes of lithium metal, which when calculated for lithium carbonate equivalent (“LCE”) is 760,000 tonnes – enough for a 38 year mine life at 100% recovery assumption.

The inferred MRE technical report (the “Report”) was authored by WSP Australia Pty Ltd. (“WSP”) and calculated the MRE with a cut off grade of 100 ppm lithium at 78,000 tonnes of lithium metal or 414,000 tonnes of LCE. This would provide a 20-year mine life.

WSP indicated in the Report at the December 4, 2023, Li2CO3 price of USD $16,573/tonne, the annual revenue is estimated at USD$338 million.

Table 1. Pocitos project MRE with no lithium cutoff grade applied – lithium metal 143,000 tonnes.

Table Notes: (1) Grade values are the average estimated value for the domain in the Vulcan™ Block Model, (2) Total in-situ contained lithium metal, (3) Extractable LCE, (4) No recovery, dilution or other similar mining parameters have been applied, (5) Although the Mineral Resources presented in this Technical Report are believed to have a reasonable expectation of being extracted economically, they are not Mineral Reserves. Estimation of Mineral Reserves requires the application of modifying factors and a minimum of a Pre-feasibility Study (PFS). The modifying factors include, but are not restricted to, mining, processing, metallurgical, infrastructure, economic, marketing, legal, environmental, social, and governmental factors.

繼續閱讀

WSP has provided a very detailed block model of approximately 200m of depth in its inaugural NI 43-101 compliant MRE and estimated the cost to achieve the next milestone of a measure and indicate resource by drilling one exploration and one production well.  Total estimated cost of approximately USD$935,000 (plus taxes), or CAD $1,300,000 (plus taxes) for the proposed two well program. The report includes some of the cost estimates from Ekosolve Limited (“Ekosolve™”) for a 20,000-tonne lithium carbonate plant using solvent extraction that is inclusive of a HCl acid plant and a lithium carbonate plant. Block grades were checked visually onscreen using Maptek Vulcan™ software and viewed in cross-sections and plans against the drill hole composites grades (Figure 14.6, and Figure 14.7 of the WSP report). This comparison provided good correlation between the input data and estimated values. No obvious discrepancies were observed.

David Greenway, President, and CEO, expressed his enthusiasm: “I am thrilled with the estimated outcome of 760,000 tonnes of LCE, a testament to the dedicated efforts of WSP Global geologists, hydrologists, and project engineers over the past three months. This estimate, coupled with the impressive projection of annual revenue at USD $338 million, underscores the potential of our project. We are advancing vigorously on all fronts, especially with our inaugural NI 43-101 and an upcoming drill program, to further capitalize on this highly prospective report. These developments herald an exciting new phase for Recharge and its stakeholders at the Pocitos Project.”

Phillip Thomas the Company’s QP, COO and Director recently made a visit to Shanghai, China and met with Richlink Capital Pty Ltd. (“Richlink”) and its clients and inspected a lithium chloride, and lithium n-butyl plant.

WSP utilized information gathered from the NI 43-101 technical report dated 30 June 2023 completed by Panopus Pte Ltd (“Panopus”) and the May 2023 MT Survey, 2018 TEM survey, drilling programs, core logs and core porosity data from Geoanalysis and Core Laboratories to prepare the Resource Estimate.  This is another milestone in the Company's endeavour to build up to a 20,000-tonne Ekosolve™ direct lithium extraction (“DLE”) plant at the Pocitos project in order to supply Richlink clients up to 20,000 tonnes of lithium carbonate per year, as previously announced under a letter of intent of offtake.

Figure 1: Satellite image showing the Pocitos I and II Concessions (Posgar 2007 Argentina 3)

The full NI 43-101 Report dated June 30, 2023, and entitled “Technical Report For The Pocitos Salar Lithium Concession, Salta Province, Argentina”, can be found on the Company’s website

www.recharge-resources.com and on SEDAR+ under the Company’s issuer profile at www.sedarplus.ca .

About Pocitos Lithium Brine Project

The Pocitos Project is located approximately 10km from the township of Pocitos where there is gas, electricity, and accommodation. Pocitos is approximately 800 hectares and is accessible by road. Collective exploration totals over US$2.0 million developing the project, including surface sampling, trenching, TEM, and MT geophysics, and drilling three wells that had outstanding brine flow results. Locations for immediate follow up drilling have already been designed and identified for upcoming exploration.  Lithium values of 169 ppm from drill hole 3 packer test assayed from laboratory analysis conducted by Alex Stewart were recorded during the project’s December 2022 drill campaigns. A double packer sampling system in HQ Diamond drill holes were drilled to a depth of up to 409 metres. The flow of brine was observed to continue for more than five hours. All holes had exceptional brine flow rates.

Ekosolve™ produced lithium carbonate at a purity of 99.89%, where extraction of the lithium from the brines was above 94% i.e. 159ppm of lithium would have been recovered from 169ppm.

Figure 2: shows the location of the Project, and the road access to the project from Salta.

Figure 3: View of the mining road to exploration well PCT-22-01 (Pocitos I) (Panopus 2023)

The NI 43-101 technical report titled “NI 43-101 Technical Report Pocitos I and II, Salta Province, Argentina” and dated December 18th, 2023 will be filed on SEDAR+ under the Company's profile at www.sedarplus.ca and will also be available on the Company’s website.

Qualified Person

Phillip Thomas, BSc Geol, MBusM, FAusIMM, MAIG, MAIMVA, (CMV), a Qualified Person as defined under NI 43-101 regulations, has reviewed the technical information that forms the basis for portions of this news release, and has approved the disclosure herein. Mr. Thomas has joined the Company in the capacity of COO and Director on 21 November 2023. He is a shareholder.

About Recharge Resources

Recharge Resources is a Canadian mineral exploration company focused on exploring and developing the production of high-value battery metals to create green, renewable energy to meet the demands of the advancing electric vehicle and fuel cell vehicle market.

All Stakeholders are encouraged to follow the Company on its social media profiles on LinkedIn, Twitter, Facebook and Instagram.

On Behalf of the Board of Directors

“David Greenway”

David Greenway, CEO

For further information, please contact:

Recharge Resources Ltd.Joel WarawaPhone: 778-588-5473E-Mail: info@recharge-resources.comWebsite: recharge-resources.com

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer for Forward-Looking Information

Certain statements in this release are forward-looking statements, which reflect the expectations of management regarding Recharge’s intention to continue to identify potential transactions and make certain corporate changes and applications. Forward looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause real results, performance, or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Recharge will obtain from them. These forward-looking statements reflect managements’ current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause real results to differ materially from those expressed or implied by the forward-looking statements, including Recharge’s results of exploration or review of properties that Recharge does acquire. These forward-looking statements are made as of the date of this news release and Recharge assumes no obligation to update these forward-looking statements, or to update the reasons why real results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.

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