PALM BEACH, Fla., July 25, 2024 (GLOBE NEWSWIRE) -- FinancialNewsMedia.com News Commentary - Both of the Gold and Copper mining operations are projected to continue the grow in North America through 2030. A report from Cognitive Market Research said that the demand for Gold Mining is rising due to the technological advancements in exploration and extraction and rising demand for gold in various industries. According to the Cognitive Market Research report: “The global Gold Mining market size was estimated at USD 202515.2 Million out of which North America held the major market of more than 28% of the global revenue with a market size of USD 56704.26 million in 2023 and will grow at a compound annual growth rate (CAGR) of 2.0% from 2023 to 2030. North America emerges as the largest growing region, showcasing a robust industry bolstered by technological advancements and sustained demand for gold. According to Cognitive Market Research, The Global Gold Mining market size is USD 202515.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 3.80% from 2023 to 2030. The report concluded: “According to Cognitive Market Research, the dominant end-user category is Investment. Gold has long been considered a safe-haven asset and a store of value, especially during times of economic uncertainty. Investors often turn to gold as a hedge against inflation, currency fluctuations, and geopolitical risks. The demand for gold in the investment sector drives significant market activity, influencing exploration, mining operations, and refining processes.” Active Companies mentioned in the article includes: Brixton Metals Corporation (OTCQB: BBBXF) (TSX-V: BBB), Faraday Copper Corp. (OTCQX: CPPKF) (TSX: FDY), Foran Mining Corporation (OTCQX: FMCXF) (TSX: FOM), Northisle Copper and Gold Inc. (TSX-V: NCX), NorthWest Copper (TSX-V: NWST).
As far as Copper, another report from Fortune Business Insights on the precious metal said: “The global copper mining market size was valued at USD 8.87 billion in 2023. The market is projected to grow from USD 9.26 billion in 2024 to USD 11.86 billion by 2032, exhibiting a CAGR of 3.13% during the forecast period. Copper is essential for constructing infrastructure projects such as buildings, bridges, and electrical systems. Hence, government initiatives and policies promoting infrastructure development can significantly boost the market. The mining industry, mainly of copper, will likely increase significantly due to increased investment in construction and construction projects. Furthermore, copper is also widely used in renewable energy infrastructure and EVs to build electrical wiring, transformers, batteries, and charging infrastructure, and the regulation related to the adoption of renewable energy and EVs will also push the demand for mining of copper.”
Brixton Metals Corporation (OTCQB:BBBXF) (TSXV:BBB) Provides Initial Assays from the 2024 Drill Program at its Thorn Project with 1467.73m of Copper-Gold-Silver-Molybdenum with Several Sub-intervals: 960.40m of 0.39% CuEq, 452m of 0.46% CuEq, 121.50m of 0.55% CuEq, 8.0m of 1.21% CuEq and 64.73m of 0.61% CuEq - Brixton Metals Corporation (the “Company” or “Brixton”) is pleased to announce its first drill results of the 2024 season from its wholly owned Thorn Project located in NW British Columbia, Canada. The 2880 square-kilometer claim group is located within the traditional territory of the Tahltan First Nation and the Taku River Tlingit First Nation. The Thorn Project is an underexplored copper-gold porphyry district with 16 large scale exploration target areas identified. Brixton is currently drilling with two rigs until the end of the season. Ground MT geophysical surveys at the North Copper Target and Cirque Copper Target are now complete and geochemical surveys, prospecting and mapping are ongoing.
Highlights
- Copper dominant porphyry mineralization starts at 314.5m depth in hole THN24-290 which ended in mineralization at 1564m depth and remains open in all directions
- Important higher-grade sub-intervals yield broad zones of Cu-Au-Ag-Mo mineralization as:
- 960.40m of 0.21% Cu, 0.06 g/t Au, 2.71 g/t Ag, 279 ppm Mo or 0.39% CuEq
- 452.00m of 0.28% Cu, 0.08 g/t Au, 3.39 g/t Ag, 272 ppm Mo or 0.46% CuEq
- 391.50m of 0.30% Cu, 0.08 g/t Au, 3.59 g/t Ag, 294 ppm Mo or 0.49% CuEq
- 121.50m of 0.35% Cu, 0.14 g/t Au, 6.27 g/t Ag, 184 ppm Mo or 0.55% CuEq
- 8.00m of 0.72% Cu, 0.25 g/t Au, 33.99 g/t Ag, 246 ppm Mo or 1.21% CuEq
- 150.73m of 0.32% Cu, 0.04 g/t Au, 2.58 g/t Ag, 461 ppm Mo or 0.56% CuEq
- 64.73m of 0.39% Cu, 0.07 g/t Au, 3.11 g/t Ag, 389 ppm Mo or 0.61% CuEq
- Hole THN24-290 significantly increases the volume of mineralized porphyry at Camp Creek
Vice President of Exploration, Christina Anstey stated, “We are delighted to report on these exceptionally broad copper intervals from the initial drill results of our fully funded 2024 season at the Thorn Project. We are looking forward to receiving results for two additional deep holes, 291 (assays pending) and 294 (currently drilling) at Camp Creek, which were planned as northwest step outs from previous drilling as well as three completed drill holes at the Cirque Copper Target (assays pending), located 3km east from the Camp Creek Target area.”
Discussion - THN24-290 was collared from the same pad as THN23-277 and was drilled at an azimuth of 325 degrees with a dip of -78 degrees to a total depth of 1564.00m. The objective of hole THN24-290 was to test below hole 277 from 2023 that failed to reach target depth due to ground conditions. THN23-277 was planned to test for a high-grade part of the porphyry system at Camp Creek while infilling a large gap of nearly one square-kilometer between previous drill holes. Hole 290 was successful in extending Cu-Au-Ag-Mo mineralization both laterally and to depth in this area with meaningful higher grade sub-intervals within the 1249.50m of mineralization drilled. Porphyry mineralization is hosted in the Cretaceous aged diorite Porphyry X unit, a crowded plagioclase porphyry characterized by well-defined stacked biotite, a feature typical of mineral-related porphyry phases. Mineralization is also hosted within Triassic Stuhini Group sedimentary rocks, which are intruded by the porphyry phases. Mineralization consists dominantly of chalcopyrite, molybdenite and pyrite as disseminations, fracture fill and within porphyry-style veins. Pyrite is dominate in the upper part of the hole as it gives way to increased chalcopyrite and molybdenite with increasing depth. Alteration assemblages transition from advanced argillic at surface, into a pronounced zone of strong phyllic alteration and ultimately into potassic assemblages around the core of the system. Higher-grade mineralization typically occurs around the -400m below sea level. At this level hole THN24-290 is spaced 440m east from previously reported hole 184, 350m west from hole 261, and 300m south from hole 221 and constitutes a significant step-out from previous drilling. CONTINUED… Read this full press release for Brixton Metals at: https://www.financialnewsmedia.com/news-bbb/
In other mining news of interest:
Faraday Copper Corp. (OTCQX: CPPKF) (TSX: FDY) recently announced the results of nine drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona, U.S. ("Copper Creek"). Two holes were drilled to test near-surface mineralization potential in the American Eagle area and five reconnaissance holes were drilled to test previously undrilled breccias near Area 51 outside of the recent Starship and Eclipse breccia discoveries. Two holes were drilled in the Bald area between Area 51 and American Eagle.
Paul Harbidge, President and CEO, commented "The first two drill holes that Faraday has completed at the American Eagle area, which is situated above the underground resource, have confirmed our thesis that there is significant near-surface mineralization present. This area offers the potential for a substantial increase in open pit resources that could enhance the scale of the project. Current drilling is ongoing in the American Eagle area, where we continue to target near-surface mineralization with the vision of a new high tonnage open pit resource being defined."
Foran Mining Corporation (OTCQX: FMCXF) (TSX: FOM) recently announced that in connection with the proposed brokered private placement announced on July 15, 2024, the Company has entered into an amending agreement with Eight Capital, as co-lead agent and joint bookrunner with BMO Capital Markets and National Bank Financial, on behalf of a syndicate of agents (together, the “Agents”), to increase the size of the offering from $222,000,008 to $260,891,830 (the “Brokered Offering”).
The Brokered Offering will now consist of (i) 57,010,327 common shares of the Company (the “Common Shares”) at an issue price of $4.05 per Common Share, for gross proceeds of $230,891,824; and (ii) 4,501,874 Common Shares to be issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (the “FT Shares”), with 2,906,977 FT Shares to be issued at a price of $6.88 per share (the “SK FT Shares”) and 1,594,897 FT Shares to be issued at a price of $6.27 per share (the “Federal FT Shares”), for gross proceeds of $30,000,006.
Northisle Copper and Gold Inc. (TSX-V: NCX) recently announced that drilling at West Goodspeed totalling over 3,077m has intercepted porphyry-related copper mineralization over an 800-metre strike length at West Goodspeed.
Assays have been received from the first completed 2024 hole (GS24-06) which intercepted porphyry-related copper and gold mineralization over approximately 200 metres, starting 9m below surface, with significant intervals. Porphyry-related alteration with chalcopyrite has been visually observed in all drill holes completed during 2024 at the West Goodspeed target, with a systematic program of pXRF scanning of core to confirm the presence of copper mineralization. Readers are cautioned that exploration results at West Goodspeed are preliminary and that visual and pXRF results provide no certainty that a deposit with reasonable prospects of economic extraction will be identified.
Robin Tolbert, Vice President Exploration of Northisle stated, "Initial returns from West Goodspeed are promising, with our team’s 2024 exploration strategy demonstrating a high rate of success of intercepting mineralization. These results are preliminary, but we are encouraged by the drilling to date and look forward to receiving assays over the coming weeks."
NorthWest Copper (TSX-V: NWST) recently reported that crews have mobilized to the field and drilling is expected to begin mid-July at the Lorraine-Top Cat project in north-central British Columbia. This is the first drill program for NorthWest in 2024. It is an integral component of the Company’s shareholder value objective to grow our mineral resource base via exploration.
Approximately 1,000 meters (“m”) of drilling is planned at Lorraine-Top Cat and the proposed holes will focus on the regional Nova and Road IP Targets. Both targets have potential to discover mineralization in areas outside of the current Lorraine mineral resource estimate (“MRE”) (indicated resources of 12.952 million tonnes (“Mt”) grading 0.55% copper (“Cu”) and 0.16 g/t gold (“Au”), and inferred resources of 45.252 Mt grading 0.43% Cu and 0.10 g/t Au at 0.20% copper cut-off grade).
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