Globex Mining Enterprises Inc said its optionee Excellon Resources Inc has filed an updated independent technical report for the Silver City project, formerly known as the Bräunsdorf exploration license, in Saxony, Germany. The company said, per Excellon, that independent consulting firm MSA Group Pty Ltd had concluded that the proposed work program was appropriate for the Silver City project. “Globex is pleased with the outlined extensive program as proposed by Excellon,” the company said.
With the closing of its debenture financing, Lion Copper and Gold Corp said it will issue a total of 29,850,738 warrants - 16,044,774 warrants are being issued in connection with the first tranche of the financing and 13,805,964 warrants are being issued in connection with the second and final tranche of the financing - exercisable at a price of 6.7 US cents (8.5 cents) per share for a period of 20 months.
First Mining Gold revealed that Chairman Keith Neumeyer and CEO Dan Wilton will make an hour-long presentation on the planned Duparquet acquisition. Both executives will be available following the presentation to answer questions about the company and acquisition. Investors can register for the event on July 27 at 11 am ET/ 8 AM PT by using the link here.
Chesapeake Financial Shares Inc, the parent company of Chesapeake Bank and Chesapeake Wealth Management, posted second-quarter results that saw its earnings increase 2.4% year-over-year on the back of strong asset quality. For the period ended June 30, 2022, the Kilmarnock, Virginia-based community bank reported earnings of $4,063,623, or earnings per share of $0.861 fully diluted, compared to $0.818 fully diluted for the second quarter of 2021. The second quarter of 2021 was also boosted by $660,000 of nonrecurring Paycheck Protection Program fees. The bank’s total assets at the end of the quarter stood at $1,346,135,792.
Sidus Space Inc said that it is expanding its relationship with Teledyne Marine, a part of Teledyne Technologies Inc, following a successful second quarter. The three-month period marks the strongest revenue quarter between the parties since their partnership began four years ago, the company said. As part of the increasing scope of work and revenue with Teledyne Marine, Sidus Space said it will now manufacture components for Teledyne Marine’s Massachusetts facility and will continue supplying components to Teledyne Marine’s facilities in Texas and Florida.
Endexx Corporation has launched its new Blesswell men’s skincare product line in select Target stores in the US. The move puts Endexx products into over 8,000 mass retail stores in America. In a statement, Endexx told shareholders that the launch positions the skincare company as a competitive player in the men’s grooming category.
American Resources Corporation has reported preliminary second-quarter revenue of $16.2 million, 78% higher than the $9.1 million recorded in the previous quarter and over 4000% higher than the $393,210 posted in the second quarter of 2021. The record revenue growth comes despite supply chain hurdles, according to CFO Kirk Taylor. “The team has put forth significant effort to expand in these challenging supply chain environments,” Taylor said in a statement. “Our extensive asset base, reserves and permits put us in a unique position to capitalize in these incredibly strong markets and provide supply growth to our customer base.”
Marvel Discovery Corp said it has applied for the necessary permits to complete its inaugural diamond drilling program at the DD Zone within the KLR-Walker Uranium Project in the Athabasca Basin in Saskatchewan. The company said the drill program will consist of 10 holes totaling 1,000 metres and that it will report back on an estimated start date once all necessary permits are received. "We have made great progress in a short period of time planning our inaugural drill campaign on the KLR-Walker Uranium Project. The DD Zone represents a target area of the high merit and potential for success,” Karim Rayani, Marvel president and CEO said in a statement.
Nextech AR Solutions Corp said it has launched upgrades to its augmented reality (AR) spatial mapping platform, ARway. “During the first half of 2022, Nextech AR has been hard at work developing an integrated solution combining all our technology into one unified platform, which allows us to leverage our technology, stay ahead of the curve and keep pushing the boundaries of what's possible with spatial computing. I’m super excited to announce that we have integrated our ARitize 3D CMS into our ARway offerings," Nextech AR CEO Evan Gappelberg said in a statement. He said the integration means thousands of 3D models can be inserted into spatial maps, offering an end-to-end solution for creators and brands that includes valuable analytical data as well as providing immersive and engaging spatial experiences for consumers.
Minto Metals Corp has reported a 16% increase in copper sales in its latest quarter, adding that it expects to meet output guidance target for the full year despite operational difficulties due to recent weather. For the three months to June 30, 2022, the Yukon-focused miner said it sold 5.4 million pounds of copper compared to 4.6 million pounds in the second quarter of 2021 on production of 236,795 dry metric tonnes (dmt), which was 4.8% up on the 225,853 dmt generated in the year-earlier quarter. As previously reported in May this year, the Yukon received between 150% and 400% of normal annual snowfall in the winter and as it melted, the Minto mine saw daily water volume inflow exceed its discharge capacities. Thus, the company temporarily suspended milling operations until 'Spring Freshet' ended. Minto also announced that Ontario engineer Channa Kumarage has been appointed as director of corporate development, while Tania Barreto has been appointed as director of investor relations.
Lobe Sciences Ltd said it has filed a provisional patent for the preparation and use of its proprietary and stable psilocin-related compounds. In a statement, Philip Young, CEO of Lobe Sciences said: "Our patent portfolio now consists of multiple patent filings for the use and delivery of psilocybin, psilocin analogues and N-Acetyl Cysteine (NAC) as well as a new patent that covers the uses and preparation of multiple proprietary stable forms of the psilocin molecule." "The company is actively pursuing drug development programs using two initial proprietary psilocin analogues. L-130, targeting neurologic conditions such as severe anxiety, Post Traumatic Stress Disorder (PTSD), as well as other brain traumas. L-131, a second new chemical entity related to psilocin and covered in the recently filed patent application is a drug candidate for a second neurological disorder affecting children," he added.
Anacortes Mining Corp has announced drill results from the first two completed diamond drill holes at Tres Cruces in Peru, with both holes demonstrating the near-surface high-grade continuity of the deposit. The company said the holes represent the first two of 22 planned drill holes currently underway in the prolific Quiruvilca Mining District in northern Perú. In a statement, Jim Currie, CEO of Anacortes Mining commented: "These first two holes confirm the excellent continuity of near-surface high grade gold within the oxides while the deeper drilling and associated grades suggest excellent potential remains at depth within the sulphides. Assays for the next five holes will be released when they are available in the coming weeks. In the meantime, drilling is on hiatus until early-August to allow the drill crews to have a rest break and enable our exploration team to catch up on logging and storage of the core".
Transition Metals Corp is expecting a busy summer as the company continues to advance three of its projects in Ontario. The company said crews have been deployed in late May to the Maude Lake nickel-copper project and in June, to the Jolly Gold project, while at the Aylmer copper-gold property, workers are preparing to be mobilized. Transition president and CEO Scott McLean said he is pleased with the progress being made by the technical field crews in preparation for drilling at the Maude Lake and Aylmer projects this summer.
Psyched Wellness Ltd has announced that its proprietary Amanita Muscaria Extract (AME-1) is now available for preorder in the USA. The company offers consumers a unique opportunity to purchase a safe and legal extract of the mushroom that has been used for thousands of years by various groups around the world for its healing properties. Psyched Wellness has approval to sell in the United States via Self-GRAS (Generally Regarded as Safe) designation, which allows the company to sell its AME-1 products. The company plans to submit the application for AME-1 as an NDI (a New Dietary Ingredient) to the FDA this fall. The product, called Calm, facilitates rest within the body and mind, and does not require a prescription. This leaves the retail landscape open to many possibilities for distribution and listing potential. In a statement, Psyched Wellness chief commercial officer, Matthew Singh, commented: "Our entire team is excited to take this step into full-scale commercialization. We begin with the launch of Calm, then follow with additional skus and product innovation. Our presale initiative will build a sales pipeline and [hopefully] attract the attention of all individuals with an interest in this sector."
Hawkmoon Resources Corp told investors that drilling has started at its Wilson gold property in the Abitibi in Quebec with 3,000 metres (m) planned across ten holes. Faubert et Fils has been hired to carry out the work and it is preparing to collar the first hole. At the Toussaint area, six holes are planned, comprising three deeper (step out) holes and three shallower infill ones. At Toussaint East, one hole is planned to a depth of 400m; two holes targeting the Midrim to a 550m depth and one at North Limb, to a depth of 200m.
Hillcrest Energy Technologies Ltd has said the company remains on schedule to deliver commercial prototypes of its novel Zero Voltage Switching electric vehicle (EV) inverter to customers by the fourth quarter. In a shareholder update, the company said it is on track with critical three-phase commissioning and testing activities for the inverter. Hillcrest said it had faced and resolved issues typical with developing new technologies such as its inverter technology, among these high-frequency ringing in the power modules – a challenge often faced when operating an inverter at high power levels.
Power Nickel Inc has released an initial NI 43-101 compliant mineral resource estimate (MRE) for its Nisk nickel sulphide project near James Bay, Québec, the site of a number of mining projects and improving infrastructure. "Power Nickel was extremely pleased with the inaugural Mineral Resource Estimate. When taken in context with our very conservative assumptions and the clear infill drilling opportunities, as outlined below in the two figures showing isometric views of the potentially economic pit constrained and underground stope constrained mineral resources, we feel we have shown Nisk has significant commercial potential. The resource update has clearly indicated some additional infill drilling is needed and these holes are now in process of being permitted as part of our upcoming fully funded drill program," said Power Nickel CEO Terry Lynch in a statement. The estimate showed over 2.5 million tonnes of indicated resources at 1.20% nickel-equivalent (NiEq) and 1.4 million inferred tonnes at 1.29 % NiEq. The indicated resource for the open pit was pegged at 894,100 tonnes at 0.33%, while the underground resource showed around 1.69 million tonnes at 0.91% NiEq.
LithiumBank Resources Corp announced that direct lithium extraction (DLE) mineral processing test work has begun on brines from its Boardwalk Project in Alberta. The company has hired Hatch to design, test and manage all its DLE programs. Hatch is an engineering firm that has expertise in engineering, procurement and construction management (EPCM) of lithium processing plants. The firm will assess leading DLE technologies in parallel with its shortlisted DLE technology companies to inform a preliminary economic assessment (PEA) and subsequent commercial plant design, the company said. The PEA is a key stepping stone towards the design of a commercial facility that LithiumBank believes will produce battery-grade lithium chemical product.
Silverton Metals Corp. revealed that it has signed a letter of intent to acquire all the shares of The Wholesome Organic Limited (WOL), which owns the Peny property comprising 15 mineral claims totaling 3,204 hectares in the Snow Lake district in Manitoba, Canada in an all-stock deal. The Peny Property is approximately 25 kilometres north-east of the town of Snow Lake in Manitoba and is prospective for Lithium Pegmatite and Volcanic Massive Sulphide (VMS) style mineralization which is known to occur in the local area. Under the terms of the letter of intent, Silverton has agreed to acquire all the issued and outstanding shares of WOL. In exchange, Silverton Metals will issue to WOL shareholders a total of 13 million common shares at a deemed price of $0.095 each for total consideration of $1,235,000.
Vicinity Motor Corp. announced that it has inked a new distribution agreement with Portland-based dealership and transportation solutions provider Schetky Bus and Van Sales to offer the Vicinity Lightning, Vicinity Classic, and VMC-Optimal vehicles. The company said the initial commitment was for 18 vehicles and under the terms of the agreement, Schetky would distribute Vicinity vehicles throughout Washington, Oregon, Idaho, and Alaska. Vicinity CEO William Trainer said Schetky’s long history of selling innovative and quality vehicles made it an ideal partner to represent the company in its US home state of Washington.
Nickel North Exploration Corp has revealed a change to the price of its non-brokered flow-through (FT) private placement, previously announced on May 26, 2022, and said it will now offer up to 6,000,000 FT units at a price of $0.05 each for gross proceeds of up to $300,000. When announced on May 26, the non-brokered private placement offering was for up to 2,666,666 FT units at $0.075 each for gross proceeds of up to $200,000. Proceeds from the issuance of the FT units will be used for field exploration programs on the Hawk Ridge Ni-Cu-PGE-Co project in 2022.
Bloom Health Partners Inc said it has closed the second tranche of its previously announced non-brokered private placement offering and has issued 2,770,000 units at a price of $0.20 each for gross proceeds of C$554,000. Combined with the first tranche of the offering, the company has sold 7,920,000 units for aggregate gross proceeds of C$1,584,000. The net proceeds of the offering will be used by the company for ongoing working capital and corporate development.
Goldshore Resources Inc said that, as a result of a review by the British Columbia Securities Commission, it is clarifying its disclosure regarding the Moss Lake Gold Deposit in Northwest Ontario, Canada. The company noted that the technical report entitled 'Technical Report on the Moss Lake Project, Ontario, Canada, Report for NI 43-101' dated April 6, 2021, prepared by SLR Consulting (Canada) Ltd. in respect of the Moss Lake Property remains current. It said the technical report contains disclosure of a historical mineral resource estimate on the Moss Lake property and there is no current mineral resource estimate on the Moss Lake property.
Proactive Research has issued a note on Murchison Minerals Ltd which is now fully funded to complete an exciting summer exploration programme at its 100%-owned HPM Nickel Project, Quebec, where the company is focused on exploring a new nickel district.