Breaking
Multi Trade Space
Author

admin

Browsing
Investing

Group Eleven Intersects 7.5m of 20.1% Zn+Pb and 51 g/t Ag, incl. 2.2m of 37.5% Zn+Pb and 72 g/t Ag at Ballywire in Step-Out Drilling; Upcoming Drilling at Cu-Ag Target and ‘D’ Gravity Anomaly

Investing 14 Mins Read

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) (FSE: 3GE) (‘Group Eleven’ or the ‘Company’) is pleased to announce assay results from four new holes (and additional assays from a previously announced hole) from the ongoing drill program at the Company’s 100%-owned Ballywire zinc-lead-silver discovery (‘Ballywire’), PG West Project (‘PG West’), Republic of Ireland.

Highlights:

  • G11-3552-29 intersected (from 189.3m):
    • 130.7m of 2.3% Zn+Pb (2.0% Zn and 0.3% Pb) and 13 g/t Ag, including
    • 7.5m of 20.1% Zn+Pb (19.1% Zn and 1.0% Pb) and 51 g/t Ag, including
    • 5.7m of 24.1% Zn+Pb (23.2% Zn and 1.0% Pb) and 60 g/t Ag, including
    • 2.2m of 37.5% Zn+Pb (36.9% Zn and 0.7% Pb) and 72 g/t Ag
    • Represents a 55m step-out down-dip from G11-3552-27
  • G11-3552-271 intersected (from 201.5m):
    • 70.5m of 3.4% Zn+Pb (2.2% Zn and 1.2% Pb) and 41 g/t Ag, including
    • 25.7m of 7.9% Zn+Pb (5.7% Zn and 2.2% Pb), 78 g/t Ag and 0.12% Cu and
    • 4.2m of 2.0% Zn+Pb (0.4% Zn and 1.6% Pb), 172 g/t Ag and 0.66% Cu, including
    • 0.9m of 3.6% Zn+Pb (0.9% Zn and 2.6% Pb), 511 g/t Ag and 2.01% Cu
    • Located 50m down-dip from G11-3552-25 (announced 06-Feb-2025)
  • G11-3552-29 expands the footprint of the recently announced 360m long, flat-lying zone of zinc-rich massive sulphide lenses by at least 50m down-dip, to a total of at least 125m down-dip
  • Drilling continues at Ballywire with two rigs testing further down-dip of the two holes released today, plus the NE extension; assay results are expected in due course
  • In several weeks, drilling will also begin testing (a) a Cu-Ag target below the Zn-Pb-Ag discovery horizon; and (b) a step-out target 1.3km to the ENE of the Ballywire discovery testing in the vicinity of the prospective ‘D’ gravity-high anomaly, at a locality with abundant calcite similar to the calcite typically observed immediately above high-grade mineralization along the discovery trend

‘We are very pleased to see the NE massive sulphide zone expanded by a ninth consecutive high-grade hole,’ stated Bart Jaworski, CEO. ‘Additional excellent Ag and Cu values also continue to point to a stratigraphically deeper Cu-Ag horizon, which we are aiming to start drill testing for the very first time over the next few weeks. We also look forward to stepping out 1.3km ENE towards a very prospective area near the ‘D’ gravity high anomaly. This locality hosts abundant calcite bodies, commonly seen above high-grade mineralization at Ballywire. A nearby historic hole is also mineralized. With the Cu-Ag target, continued drilling to the NE and larger step outs along our prospective 6km trend, 2025 promises to be an exciting year of exploration for Group Eleven.’

Exhibit 1. Cross-Section Showing New Drilling (G11-3552-27, -29 and -31) at Ballywire Discovery

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_1b4f826a447618ea_002full.jpg

Note: Partial assays from G11-3552-27 previously announced on 06-Feb-25, consisting of 24.8m of 8.1% Zn+Pb, 80 g/t Ag;

Exhibit 2. Plan Map Showing New Drilling and Interpreted Cu-Ag ‘Feeder’ Structure

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_1b4f826a447618ea_003full.jpg

Note: Partial assays from G11-3552-27 previously announced on 06-Feb-25, consisting of 24.8m of 8.1% Zn+Pb, 80 g/t Ag;

New Step-Out Holes at Ballywire Discovery

The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, is a relatively new zinc-lead-silver discovery (first announced Sept-2022). In addition to 44 holes drilled and reported by Group Eleven to date, the most recent four holes (G11-3552-24, -26, -28, and -29) and additional assays for previously announced hole, G11-3552-27, are reported today (see Exhibits 1 to 7).

High-grade mineralization from G11-3552-27 and -29 (see Page 1 and Exhibits 1 to 4) consists predominantly of massive and semi-massive sulphide (sphalerite, galena, pyrite, chalcopyrite and suspected tennantite-tetrahedrite), as well as, disseminated and vein hosted sulphide mineralization. Mineralization occurs along and/or close to the base of the Waulsortian Limestone (see Exhibit 1).

Exhibit 3. Summary of Assays from G11-3552-24, -26, -27, -28 and -29 at Ballywire

Item From
(m)		 To
(m)		 Int
(m)		 Zn
(%)		 Pb
(%)		 Zn+Pb
(%)		 Ag
(g/t)		 Cu
(%)
G11-3552-27 201.45 271.94 70.49 2.22 1.20 3.41 40.8 0.09
Incl. 212.07 237.81 25.74 5.69 2.21 7.90 77.8 0.12
Incl. 219.42 235.06 15.64 8.30 3.28 11.59 122.1 0.19
Incl. 218.47 222.21 3.74 12.18 3.05 15.23 75.3 –
And 228.51 235.06 6.55 11.06 5.65 16.71 240.0 0.42
Incl. 230.36 233.90 3.54 13.26 8.01 21.27 395.1 0.73
And 267.72 271.94 4.22 0.40 1.58 1.97 171.6 0.66
Incl. 268.64 269.49 0.85 0.93 2.62 3.55 511.0 2.01
G11-3552-29 189.33 320.05 130.72 1.99 0.26 2.25 13.0 –
Incl. 224.27 229.61 5.34 4.10 0.79 4.88 12.5 –
And 259.03 266.56 7.53 19.08 1.01 20.09 51.3 –
Incl. 259.03 264.74 5.71 23.16 0.95 24.11 60.0 –
Incl. 259.03 261.25 2.22 36.86 0.68 37.54 71.7 –
And 307.91 320.05 12.14 0.23 0.04 0.27 66.2 0.12
Incl. 315.26 320.05 4.79 0.38 0.05 0.42 149.4 0.27
Incl. 318.00 320.05 2.05 0.09 0.04 0.12 301.0 0.52
G11-3552-24 186.26 199.20 12.94 0.15 0.04 0.19 2.1 –
Incl. 193.76 197.31 3.55 0.30 0.10 0.40 4.8 –
And 235.85 236.76 0.91 0.01 0.01 0.01 36.1 0.35
G11-3552-26 215.80 216.36 0.56 0.83 0.79 1.62 71.5 –
Incl. 215.80 215.97 0.17 2.52 2.25 4.77 190.0 –
G11-3552-28 157.95 174.81 16.86 0.02 0.58 0.59 3.1 –
Incl. 166.42 169.28 2.86 0.05 1.26 1.31 9.0 –
And 172.99 174.81 1.82 0.07 2.12 2.19 6.8 –
And 179.67 181.49 1.82 0.03 0.17 0.20 64.1 0.16
And 218.66 220.50 1.84 0.00 0.00 0.01 2.7 0.26

 

Note: True width of the intervals above as a percentage of the intersected interval is 90% (G11-3552-27), 80-90% (G11-3552-29), 90-100% (G11-3552-24), 80-90% (G11-3552-26) and 90-100% (G11-3552-28)

Holes drilled as 300m step-outs to the NE (G11-3552-24, -26 and -28; see Exhibit 2) returned zones of mineralization narrower and weaker than those at the main discovery trend (see Exhibit 3). Disseminated copper mineralization, as well as, mineralized veins and fractures, however, are strengthening towards the north, suggesting massive sulphide mineralization may be present further north (see northern-most projected mineralized trend in Exhibit 4). A second mineralized trend is also emerging to the south where the interpreted Cu-Ag rich ‘feeder’ fault pierced by drilled along the main discovery trend (see solid purple line in Exhibits 2 and 4) appears to correlate with mineralization intersected in G11-3552-08 (see Exhibit 2). More drilling is ongoing in the NE area to test the above targets.

Key 2025 Exploration Targets at Ballywire Discovery

Copper-Silver Target

As drilling progresses at Ballywire, it is increasingly evident that there exists an interpreted Cu-Ag ‘feeder’ fault parallel to and spatially associated with the main Zn-Pb-Ag discovery at Ballywire (see Exhibit 2). This ‘feeder’ fault hosts mineralization with up to 5.90% Cu and 1,440 g/t Ag, interpreted to have been transported by mineralizing fluids from below by vertical to steeply-dipping structures (see Exhibit 5). Today’s results provide further evidence, with grades up to 2.01% Cu and 511 g/t Ag (see Exhibit 3). Meanwhile, the stratigraphy of the region suggests that approximately 100-200m below the discovery horizon (base of the Waulsortian Limestone), is the Lower Limestone Shale horizon, which hosts four well known Cu-Ag historic occurrences in the surrounding area (see Denison, Oola, Gortdrum and Tullacondra in Exhibit 8, located approx. 5km, 9km, 10km and 45km away from Ballywire, respectively).

These historic Cu-Ag occurrences can be interpreted as the eroded remnants of originally more vertically extensive mineralizing systems, likely representing the roots of stratigraphically higher Zn-Pb-Ag mineralization. At Ballywire, there is a chance the mineralizing system is much larger than at the neighbouring deposits (based on relatively large footprint to date), and if it is there, any Cu-Ag mineralization would notionally be intact below the existing Zn-Pb-Ag mineralization.

Given the compelling nature of the above exploration model, Group Eleven aims to begin drilling this deeper Cu-Ag target over the coming several weeks.

Exhibit 4. Plan Map Showing Interpreted Cu-Ag ‘Feeder’ and Calcite Body Targets at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_1b4f826a447618ea_004full.jpg

Note: Calcite bodies occurring at the discovery trend are not shown here (shown in Exhibit 6 instead)

Exhibit 5. Cross-Section Showing Hypothesized Location of Cu-Ag Mineralization

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_1b4f826a447618ea_005full.jpg

Calcite Body Vectors

As drilling progresses at Ballywire, it is increasingly evident that high-grade Zn-Pb-Ag mineralization at Ballywire is spatially associated with steeply dipping bodies of calcite (see Exhibit 6), interpreted to represent the ‘exhaust’ from the mineralization process below (i.e. dissolved limestone at the mineralized horizon is re-precipitated as calcite bodies immediately above). These calcite bodies may prove to be a strong exploration vector along the undrilled remainder of Ballywire’s prospective 6km trend.

Two shallow historic holes, located 1.3km ENE from the current boundary of the Ballywire discovery, intercepted such calcite bodies (see Exhibits 4 and 7), yet were never followed up. This locality is also near the prospective ‘D’ gravity high anomaly and historic hole, 99-3352-05 (see Exhibit 7), which intersected mineralization of a tenor typically seen peripheral to massive sulphide zones at the discovery trend. Group Eleven aim to test this locality in the coming weeks.

Separately, two historic holes approx. 300m and 600m to the WSW, respectively, from the current boundary of the Ballywire discovery, also intercepted abundant calcite zones (see Exhibits 4 and 7) and were never followed up. Group Eleven aims to test these locations in due course.

Looking forward, six (6) drill holes (G11-3552-30 to -35; see Exhibit 2) are in progress with results expected in due course. Exhibit 2 shows drilling to date across 1.25km of the overall 2.6km long trend (see Exhibit 4) of significantly mineralized drill intercepts. This in turn is hosted within a 6km long prospective trend defined by four gravity high anomalies, only one of which (anomaly ‘C’) is systematically drilled to date (see Exhibit 7).

Exhibit 6. Oblique 3D View of Calcite Bodies Spatially Associated with Mineralization at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_1b4f826a447618ea_006full.jpg

Note: Bodies shown (calcite, Zn-Pb-Ag and Cu-Ag) are not constrained by any grade cut-off and are only meant for illustrative purposes

Exhibit 7. Regional Gravity at Ballywire Showing 6km Long Prospective Trend and Calcite Bodies

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_exhibit7.jpg

Notes to Exhibit 8: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves Report dated December 31, 2023); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. ‘Rathdowney Trend’ is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Exhibit 8. Regional Map of Ballywire Discovery and Surrounding Cu-Ag Historic Occurrences

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/245941_figure8.jpg

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.42m to 1.3m with the majority of samples in the 0.79m to 0.99m range. The half-core samples are bagged, labelled and sealed at Group Elevens core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials (‘CRMs’ or ‘Standards’) as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG) (OTC Pink: GRLVF) and (FSE: 3GE) is a mineral exploration company focused on advanced stage zinc exploration in the Republic of Ireland. Group Eleven announced the Ballywire discovery in September 2022. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)
  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)
  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)
  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)
  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and
  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)
  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)

Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit2, which itself is located adjacent to Glencore’s Pallas Green zinc-lead deposit3. The Company’s two largest shareholders are Glencore Canada Corp. (16.1% interest) and Michael Gentile (16.0%). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.webb@groupelevenresources.com | T: 604-644-9514

Neither 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.

Cautionary Note Regarding Forward-Looking Information

This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company’s public disclosure filings may be accessed via www.sedarplus.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

1 Partial assays from G11-3552-27 previously announced on 06-Feb-25, consisting of 24.8m of 8.1% Zn+Pb, 80 g/t Ag and 0.12% Cu. A further 55m was subsequently assayed and announced today (20.8m above and 34.1m below the stated 24.8m long interval).
2 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
3 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2023)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245941

News Provided by Newsfile via QuoteMedia

This post appeared first on investingnews.com

Keep Reading
Business

23andMe files for bankruptcy as co-founder Anne Wojcicki resigns as CEO

Business 3 Mins Read

Embattled genetic testing company 23andMe, once valued at $6 billion, filed for Chapter 11 bankruptcy protection in Missouri federal court on Sunday night.

The company’s CEO, Anne Wojcicki, has resigned from her role as chief executive effective immediately, though she will remain a member of the board. Joseph Selsavage, 23andMe’s chief financial and accounting officer, will serve as interim CEO, according to a filing with the U.S. Securities and Exchange Commission.

“We have had many successes but I equally take accountability for the challenges we have today,” Wojcicki wrote in a post on X early Monday morning. “There is no doubt that the challenges faced by 23andMe through an evolving business model have been real, but my belief in the company and its future is unwavering.”

23andMe declined to comment further on the filing.

Anne Wojcicki speaks at the South by Southwest festival in 2023. Jordan Vonderhaar / Bloomberg via Getty Images file

The former billionaire co-founded 23andMe in 2006, and the company rocketed into the mainstream because of its at-home DNA testing kits that gave customers insight into their family histories and genetic profiles. The five-time CNBC Disruptor 50 company went public in 2021 via a merger with a special purpose acquisition company, which valued the company at around $3.5 billion at the time.

23andMe’s stock has mostly been in free fall in recent years as the company struggled to generate recurring revenue and stand up viable research and therapeutics businesses. As of Monday morning, the company has a market capitalization of around $25 million.

23andMe in Mountain View, Calif.Smith Collection / Getty Images

Last March, 23andMe’s independent directors formed a special committee to evaluate the company’s potential paths forward. Wojcicki submitted multiple proposals to take the company private, but all were rejected. The special committee “unanimously determined to reject” Wojcicki’s most recent proposal earlier this month.

If 23andMe’s plan to sell its assets through a Chapter 11 plan is approved by the court, the company will “actively solicit qualified bids” over a 45-day process. Wojcicki plans to pursue the company as an independent bidder, she said in her post on Monday.

23andMe has between $100 million and $500 million in estimated assets, as well as between $100 million and $500 million in estimated liabilities, according to the bankruptcy filing.

Beyond its financial woes, privacy concerns around 23andMe’s genetic database have swirled in recent years. In October 2023, hackers accessed the information of nearly 7 million customers. 

California Attorney General Rob Bonta on Friday issued a consumer alert urging residents to consider deleting their genetic data from 23andMe’s website.

23andMe said there will be no changes to the way that it stores, protects or manages customer data through the sale process, and it will continue operating business as usual.

“As I think about the future, I will continue to tirelessly advocate for customers to have choice and transparency with respect to their personal data, regardless of platform,” Wojcicki said.

This post appeared first on NBC NEWS

Keep Reading
Business

Bitcoin is just another tech stock, not a market hedge, study shows

Business 3 Mins Read

Bitcoin is more closely correlated to the Nasdaq than it is to gold most of the time, and investors could benefit from viewing it as another big tech stock, says Standard Chartered.

Bitcoin’s correlation with the Nasdaq is currently at about 0.5, after it approached 0.8 earlier this year, according to the bank. Meanwhile, its correlation with gold has been falling since January, touching zero at one point, and is now just above 0.2.

“Bitcoin trading is highly correlated to the Nasdaq over short time horizons,” Geoff Kendrick, Standard Chartered’s global head of digital assets research, said in a note Monday. “This Nasdaq correlation leads to the idea that bitcoin could be included in a basket of large tech stocks; if it were included, the implication would be more institutional buying as BTC would serve multiple purposes in investor portfolios.”

Bitcoin is frequently viewed as “digital gold” and a hedge against risks facing the traditional financial sector. Kendrick said he still sees the flagship cryptocurrency serving that purpose but that “in reality … the need for such hedges is very infrequent.”

Standard Chartered created a hypothetical index dubbed “Mag 7B,” in which it added bitcoin to the Magnificent 7 tech stocks — Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla — and removed Tesla.

“Mag 7B has outperformed Mag 7 by about 5% over the period since December 2017,” he said. “On a calendar year basis, Mag 7B outperformed Mag 7 in five out of seven years, albeit by a very small margin in 2022. Mag 7B’s relative returns are decent on both an absolute basis (averaging around 1% a year above Mag 7) and a calendar-year basis.”

Kendrick said bitcoin has been trading in a similar volatility-adjusted fashion to Nvidia since President Trump’s inauguration. They’re down 16% and 12%, respectively, since Jan. 20. Meanwhile, Tesla, which has lost 36% in the same period, is trading more like ether (down 38% since Jan. 20).

“Investors can view bitcoin as both a hedge against [traditional finance] and as part of their tech allocation,” Kendrick said. “Indeed, as BTC’s role in global investor portfolios becomes established, we think that having more than one use will bring fresh capital inflows to the asset. This is particularly true as bitcoin investment becomes more institutionalized.”

Bitcoin is down about 5% for the year after Trump’s tariff threats in recent weeks have brought new volatility to the market. Investors are expecting relief in the second quarter, however, given bitcoin’s two of its most persistent correlations: its positive correlation with money supply growth, also known as M2, and its negative correlation with the U.S. dollar index, or DXY.

—CNBC’s Michael Bloom contributed reporting.

This post appeared first on NBC NEWS

Keep Reading
Investing

Transformational Acquisition of the High-Grade Elizabeth Hill Silver Project

Investing 3 Mins Read

Errawarra Resources Ltd (ASX: ERW) (Errawarra or the Company) is delighted to announce that it has entered binding agreements (refer Acquisition Terms) pursuant to which the Company has acquired 70% of the historical Elizabeth Hill Silver Project (“Project” or “Elizabeth Hill”), 70% of the silver rights to the Pinderi Hills Project tenement package and 70% of the ownership of 3 tenements or tenement applications surrounding the silver project. This collective tenement package totalling 180km2 is in the Tier 1 mining jurisdiction of the Pilbara, Western Australia (Figure 2 – Project Location).

HIGHLIGHTS:

  • Transformational acquisition of the high-grade Elizabeth Hill Silver Project in the West Pilbara mining region of Western Australia
  • Acquisition agreed in conjunction with a $3 million placement to existing shareholders and new investors including major fund investors
  • Historical production of 1.2Moz Ag from 16kt ore (~2,194 g/t Ag head grade)1 over only 1 year of operation
  • Elizabeth Hill mining operations ceased in 2000 due to declining silver prices (~USD $5/oz)2
  • Requisite geology and structure present, with the Project located on a major ultramafic complex with multiple high grade silver drill intercepts including3:
    • 11.7 m @ 5,371 g/t Ag from 13m (21EHDD003)
    • 24 m @ 1,228 g/t Ag from 64m (AMEHRC009)
    • 43 m @ 370 g/t Ag from 0m (22AMC001); and
    • 24.8m @ 915 g/t Ag from 2m (21EHDD001)
  • Errawarra becomes the first explorer to consolidate the Elizabeth Hill Mine and the surrounding land package of 180km2, which covers additional highly prospective underexplored areas for silver mineralisation
  • Experienced precious metals geologist Mr. Robert Mosig has joined the board to assist in fast-tracking forward development and exploration activities at Elizabeth Hill
  • Highly respected ERM Consultants led by Mr Ian Stockton have already commenced analysis of the Elizabeth Hill geological setting including comparisons with analogous projects globally to assist in target generation
  • Project located on a granted mining lease (ML) and all the required exploration/drilling approvals are in place to fast track immediate drilling post site visit and target prioritisation

The Elizabeth Hill Project acquisition is conditional upon meeting the condition precedent and obtaining the relevant approvals, amongst others, Errawarra entering into separate joint venture agreements with Alien Metals Limited (Alien) (AIM: UFO) and GreenTech Metals Limited (GreenTech).

This transformational acquisition ensures that the Company is now underpinned by a high-grade historical producing silver asset, with significant resource growth potential and future low-cost operational opportunities in a Tier 1 global mining jurisdiction.

Chairman Thomas Reddicliffe commented:

“This is an exceptional opportunity for our shareholders, and we are fortunate to have secured an interest in the Elizabeth Hill Silver Project and extensions. This will enhance our existing exploration projects in the same region of Western Australia with the addition of an interest in a high-grade past producing silver asset with growth potential not previously tested.”

“The combination of existing high-grade silver intercepts signify growth potential and compelling exploration prospectivity at both near mine and regional targets. With Elizabeth Hill being located on an approved mining lease, this presents an opportunity for the Company to fast-track drilling and, if successful, mining supported by a buoyant silver market driven by strong investor demand and global issues.”

“We look forward to immediately getting work underway with regular news in the near future”.

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
Investing

Kaiser to acquire the Henty Gold Mine, becoming a multi-asset Australian gold producer

Investing 5 Mins Read

Kaiser Reef Limited (‘Kaiser’ or ‘the Company’) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with Catalyst Metals Limited (ASX:CYL) (“Catalyst”) to acquire the Henty Gold Mine and associated Tasmanian exploration tenements (“Henty Gold Mine” or “Henty”).

KEY HIGHLIGHTS

  • Proven production asset with a cumulative production history of 1.4Moz at 8.9g/t Au1 and a track record of replacing mined ounces. Gold produced in the December Quarter totalled 6,594oz, produced at an AISC of A$2,631/oz2
  • JORC compliant Mineral Resource of 4.1Mt @ 3.4g/t Au for 449kozs of contained gold and Ore Reserve of 1.2Mt @ 4.0g/t Au for 154kozs
  • Highly attractive acquisition metric of less than A$1,200 per production ounce4 based on total upfront consideration of A$31.6 million, comprising A$15.0 million cash and 118.6 million shares issued to Catalyst, equivalent to a 19.99% shareholding
  • Acquisition immediately transforms Kaiser into a +30kozpa5, multi-asset gold producer with a clear pathway to grow to a 50kozpa production target
  • Kaiser and Catalyst agree an option to form a strategic partnership in the Victorian Goldfields around the Maldon gold processing plant, including an option to expand the processing plant, supporting both Kaiser’s and Catalyst’s Victorian ambitions
  • A further A$10 million of funding secured with Auramet International Inc, consisting of a A$8 million senior secured gold loan and a A$2 million unsecured gold prepayment facility ensuring a strong working capital position

TRANSACTION SUMMARY

Kaiser Reef Ltd (ASX:KAU) (“Kaiser” or the “Company”) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) with Catalyst Metals Limited (ASX:CYL) (“Catalyst”) pursuant to which Kaiser will acquire the Henty Gold Mine and associated Tasmanian exploration tenements (“Henty Gold Mine” or “Henty”) for:

  • A$15.0 million upfront consideration;
  • A$16.6 million in shares issued to Catalyst (Catalyst to emerge as a 19.99% shareholder);
  • deferred payments of 50 ounces per month to Catalyst, capped at 3,000 ounces and commencing 6 months from Completion (“Deferred Consideration”);
  • 0.5% NSR royalty on gold produced from the Darwin Target Zone area;
  • Kaiser to reimburse Catalyst A$3.9 million in Environmental Bond Payments to Mineral Resources Tasmania in 12 monthly instalments; and
  • an option agreement through which Catalyst may enter into a joint venture with Kaiser in relation to the Maldon processing plant.

together the (“Transaction”).

STRATEGIC RATIONALE

  • Established production platform: The Henty Gold Mine is an established gold production platform, with historical production of 1.4Moz @ 8.9g/t. Since acquiring Henty in 2021, Catalyst has made significant operational improvements and investments at Henty, including drill platforms, drilling, tailings, underground fleet and people.
  • 5-year mine plan: Work to date has culminated in establishing a robust 5-year mine plan underpinned by a current Ore Reserves of 1.2Mt @ 4.0g/t for 154koz. There is significant scope to extent mine life based on the current Mineral Resource of 4.1Mt @ 3.4g/t Au for 449koz along with the considerable opportunities for near-mine exploration and development success.
  • Significant infrastructure: There is significant infrastructure in place at the Henty Gold Mine including a 300ktpa CIL processing plant, surface & underground workshops, administration complex, access to hydro generated grid power and refreshed tailings storage capacity.
  • Implement and build on operational capacity: Key Kaiser executives have significant experience in the optimisation of similar assets to Henty achieved through a combination of operational improvement and targeted exploration investment. The support from Catalyst as a 19.99% strategic shareholder, along with the addition of the Henty site operating team, a stable & skilled local workforce of +150 employees, will further strengthen the Kaiser team.
  • Flagship asset: With the Henty Gold Mine as its flagship asset, the Kaiser team will provide dedicated focus to continue the significant work completed by Catalyst and further drive operational improvements at Henty.

Kaiser’s Managing Director, Jonathan Downes said:

“We are excited to significantly expand Kaiser’s production base, exploration opportunities and enter into a strategic partnership with Catalyst in Victoria. We look forward to welcoming the Henty team into Kaiser and growing the business together.

“Catalyst has done a great job building a profitable operation at Henty over the last 4 years, with clear production and mine life visibility, plus some great exploration targets. Kaiser will continue to re-invest into Henty and build on what Catalyst has already achieved. We are very pleased to have Catalyst’s continued involvement and exposure to the upside at Henty, both as Kaiser’s major shareholder and through their board representation.

“The option for Kaiser and Catalyst to enter into a 50/50 JV partnership at the Maldon processing plant gives both parties a clear pathway that supports their Victorian ambitions. A Joint Venture can unlock the benefits that would come with plant expansion and increased operational scale, and we look forward to working with Catalyst as JV partners if they execute the option.

“I’m also pleased that Brad Valiukas will be taking a full-time role with Kaiser as Director – Operations. Brad has a wealth of experience in underground mining and helping to grow companies such as Mincor Resources, to their peak period operating 8 mines, and Northern Star, bedding in assets from Newmont, Barrick and Sumitomo. Brad has been instrumental in the changes we have made over the last few months at A1, accelerating the capital development to get below historic workings and setting A1 up to deliver going forward.

“The addition of Henty to our portfolio, alongside A1 in Victoria, positions Kaiser as a >30,000oz old producer and targeting 50,000 ounces of gold production per annum in the short term. Each of the gold projects provides expansion and exploration opportunities and collectively positions Kaiser for a market re-rating in line with our peers. The value metrics of Kaiser are compelling with three gold mines (one on care and maintenance) and two gold processing plants – all held with an enterprise value of A$67 million.”

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
Investing

HITIQ Shifts to Consumer Market with VAFA Partnership

Investing 4 Mins Read

HITIQ Limited (ASX: HIQ) (HITIQ or the Company) announces a strategic shift to focus on the consumer market, targeting amateur and community-level athletes of all ages across a variety of sports with its new HITIQ PROTEQT system. This shift to the consumer market is a natural strategic step for the Company, running in parallel with its established work in professional sports, taking its world-leading impact detection technology where it can have the greatest impact—in the amateur sporting community, and positioning HITIQ to tap into a vast, accessible market, steering the Company toward a sustainable, cash flow positive future. This direction is reinforced by a significant milestone: a three-year partnership with the Victorian Amateur Football Association (VAFA), naming HITIQ as the VAFA’s ‘Official Concussion Technology Partner.’

  • HITIQ is shifting its strategic focus to the consumer market, targeting amateur and community-level athletes.
  • This strategic shift to the consumer market complements ongoing efforts in professional sports.
  • A three-year partnership with the VAFA marks a key launchpad, driving HITIQ toward a cash flow positive future.

The consumer market, encompassing millions of amateur players globally, offers a substantial opportunity driven by increasing concussion awareness and demand for cost-effective safety solutions. Research shows community-level athletes and parents prioritize wellbeing, creating strong incentives for adopting HITIQ’s technology, which includes real-time impact detection, symptom assessment, and telehealth support. As part of this shift, HITIQ PROTEQT will be made available to VAFA clubs, monitoring head impacts in real time, flagging potential concussion risks, and guiding players through symptom assessments with telehealth access to emergency physicians and concussion specialists when needed. Players diagnosed with concussion by their preferred medical professional will follow club medical staff guidance and AFL community concussion protocols for return-to-play. Leveraging its extensive elite sports foundation, HITIQ will keep advancing its technology at this level to strengthen offerings for the community market.

HITIQ PROTEQT integrates proven elite-level technology—previously validated by partners like Monash University and Virginia Tech—into an accessible, boil-and-bite smart mouthguard. Priced for broad uptake and paired with a subscription model, HITIQ PROTEQT offers head impact monitoring, concussion management, and return-to-play guidance, and will be available to consumers this season. The VAFA partnership builds on HITIQ’s prior success with the Nexus iMG in this league, providing a proven foundation to drive adoption among amateur players and families.

Earl Eddings, Executive Chairman of HITIQ, said:

“This shift positions HITIQ where the real demand is – grassroots sport. We’ve built a scalable, consumer- focused product that meets a clear need, backed by world-class technology and partnerships. This is about delivering safety to millions while driving sustainable growth for shareholders. Partnering with the VAFA is a critical step toward bringing HITIQ PROTEQT to life. With the VAFA as our launchpad, we’re gearing up to deliver our cutting-edge technology to community sport, starting with their teams and expanding nationwide.”

VAFA CEO Jason Reddick said:

“Player safety is a primary priority for the VAFA, and concussion is one of the most serious health issues in the game. So partnering with HITIQ, who are leading the way in impact detection technology that can assist with early flagging of potential concussions, is another step forward. We’re happy to help bring this next-level tool to our VAFA community and encourage our clubs to learn more about HITIQ PROTEQT. Any tool that can help players and club medical staff quickly identify a potential concussion and begin assessment and treatment earlier is worthy of consideration.”

Stuart McDonald, Senior Research Fellow of Monash University’s Department of Neuroscience, said: ‘Research with HITIQ’s instrumented mouthguards, including our studies in the VAFA, has shown they reliably detect and quantify the forces exerted on the head during collisions. Based on our experience, players have found their previous mouthguards very comfortable, and they also show promise in identifying impacts that may carry a higher concussion risk. While these devices do not diagnose concussion, they could be used to highlight significant impacts that might otherwise have been missed, encouraging appropriate symptom monitoring and medical evaluation.’

The Company’s growth strategy includes scaling manufacturing and expanding into key markets starting with Australia. With board renewal, we have brought in sport and consumer expertise, and a refreshed leadership team with global sports tech experience will support this shift, alongside plans to build a leading concussion dataset for stakeholders. With the VAFA partnership as a springboard, this strategic shift sets HITIQ on a clear course for profitability.

Earl Eddings will be presenting the attached slides this week for a non-deal Asia roadshow.

Click here for the full ASX Release

This post appeared first on investingnews.com

Keep Reading
Investing

Crypto Market Recap: Australia to Start Crypto Pilot Program, Coinbase in Talks to Buy Deribit

Investing 4 Mins Read

Here’s a quick recap of the crypto landscape for Friday (March 21) as of 9:00 p.m. UTC.

Bitcoin and Ethereum price update

Bitcoin (BTC) is currently trading at US$83,955.92, a 0.7 percent decrease over the past 24 hours. The day’s trading range has seen a low of US$83,238.78 and a high of US$84,411.85.

A new analysis by trading resource Material Indicators on March 20 (Thursday) identified a classic manipulatory device known as spoofing by one or more whales as a reason why Bitcoin failed to sustain or rally past US$87,500 yesterday. Crypto markets are seeing decreased speculative trading, indicated by a lower Bitcoin hot supply. Analysts predict bearish trends could continue, with Bitcoin possibly dropping to $60,000.

Bitcoin performance, March 21, 2025.

Chart via TradingView.

Ethereum (ETH) is priced at US$1,973.30, trading flat over the same period. The cryptocurrency reached an intraday low of US$1,938.90 and a high of US$1,976.41.

Crypto analytics platform Santiment observed the lowest supply of Ether on crypto exchanges since November 2015, which suggests that investors are moving their ETH into cold storage wallets for long-term holding. This could lead to a supply shock, resulting in a potential price surge.

Altcoin price update

  • Solana (SOL) is currently valued at US$128.15, up 0.2 percent over the past 24 hours. SOL experienced a low of US$125.34 and a high of US$129.04 on Friday.
    • Sui (SUI) is priced at US$2.27, showing a 4.6 percent decrease over the past 24 hours. It achieved a daily low of US$2.24 and a high of US$2.29.
    • Cardano (ADA) is trading at US$0.7105, reflecting a 1.1 percent decrease over the past 24 hours. Its lowest price on Friday was US$0.7017, with a high of US$0.7167.

    Crypto news to know

    Australia exploring digital asset integration

    The Australian government is developing a regulatory framework for digital assets, focusing on digital asset platforms (DAPs) and payment stablecoins. According to a white paper released by the Treasury office, the reforms aim to balance innovation with consumer protection, aligning with international best practices.

    Key elements include extending existing financial services laws to DAPs, treating payment stablecoins as stored-value facilities and reviewing the enhanced regulatory sandbox. Under the framework, the government plans to explore the potential of digital asset technology, while addressing de-banking issues and considering future initiatives such as the Crypto Asset Reporting Framework, central bank digital currencies, tokenization and decentralized finance.

    The paper details a pilot program that centers around exploring the practical applications of tokenization in financial markets, particularly in the wholesale sector. The program will be executed in collaboration with the Digital Finance Cooperative Research Center, the Treasury, ASIC and the Australian Prudential Regulation Authority.

    These developments come ahead of a federal election slated for May 17 or earlier.

    Coinbase in talks to acquire Deribit

    Coinbase is reportedly in advanced discussions to acquire leading cryptocurrency derivatives platform Deribit, according to a Bloomberg report released on Friday afternoon.

    According to sources cited by the news outlet, the move aims to bolster Coinbase’s presence in the institutional crypto trading space by integrating Deribit’s established options and futures offerings.

    The acquisition would allow Coinbase to diversify its revenue streams and cater to sophisticated traders seeking complex financial instruments, potentially solidifying its position as a comprehensive crypto exchange in a rapidly evolving market.

    The companies have not commented on the potential deal, but have reportedly notified regulators in Dubai where Deribit holds a license.

    Canary Capital files to list Pengu ETF

    Canary Capital has filed US regulatory documents to list an exchange-traded fund (ETF) that would hold Pengu (PENGU), the governance token of the Pudgy Penguins non-fungible token (NFT) project.

    This move follows an earlier proposal by the investment firm to offer the first Sui ETF on Monday (March 17).

    The proposed Pengu ETF aims to hold spot PENGU and Pudgy Penguins NFTs, potentially becoming the first US ETF to hold NFTs if approved. The filing also reveals plans for the ETF to hold other digital assets, such as SOL and ETH, for transactions related to the PENGU and Pudgy Penguins NFTs.

    As of March 21, PENGU had a market cap of approximately US$395 million, according to CoinGecko.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

    This post appeared first on investingnews.com

    Keep Reading
    Stock

    Two Ways to Use the Zweig Breadth Thrust – Plus an Added Twist

    Stock 4 Mins Read

    The Zweig Breadth Thrust is best known for its bullish reversal signals, which capture a material increase in upside participation. There is, however, more to the indicator because traders can also use the “setup” period to identify oversold conditions. This report will explain the original Zweig Breadth Thrust and show how these signals work.

    Note that our breadth models turned bearish in mid March and the major index ETFs triggered long-term downtrend signals. I am now watching for something that would prove this stance otherwise, such as a Zweig Breadth Thrust. A set up is in the making using S&P 500 data, but this has yet to translate into a signal. We will follow this setup closely in the coming days. Click here for a trial and full access to our reports and videos.

    A Sharp Increase in Advancing Stocks 

    The Zweig Breadth Thrust (ZBT) indicator uses NYSE advance-decline data to identify major shifts in the percentage of advancing stocks (breadth). The first step is to calculate the percentage of advancing stocks (advances divided by advances plus declines). Second, apply a 10-day EMA. Thus, the indicator is the 10-day EMA of Advances/(Advances + Declines). This formula comes from Greg Morris’ book, the Encyclopedia of Breadth Indicators.

    A value of .40 means the 10-day EMA is just 40%, which shows an extremely low percentage of advancing stocks. A value of .615 means the 10-day EMA is 61.5%, which shows an exceptionally large percentage of advancing stocks. For reference, the chart below shows NYSE Advances and Declines in the middle window and the ZBT indicator in the lower window.

    From Setup to Signal

    The Zweig Breadth Thrust triggers when the indicator moves from an extremely low level to an exceptionally high level in a short period. Such moves show a major turnaround in participation (advancing stocks). A setup occurs when the indicator dips below .40 (40%), and the Zweig Breadth Thrust signals when the indicator surges above .615 (61.5%) within 10 days.

    The chart above shows the ZBT indicator (!BINYBT) in the top window, the digital signal in the middle window (!BINYBTD) and the NY Composite in the lower window. The blue shadings show the indicator surging from below .40 to above .615 within a 10 day window (April and November 2023). The pink shadings show two signals that missed the 10 day cutoff.

    This indicator can also identify short-term oversold conditions with a move below .40 (40%). The gray vertical lines show instances when this indicator became oversold (March, August, September and October 2023, April and December 2024). Short-term oversold conditions reflect an extreme pullback that can lead to a bounce.

    Solid Rationale, but Something Missing

    There is a solid rationale behind the Zweig Breadth Thrust, but something is missing. Those “somethings” are Nasdaq stocks. I suspect Zweig used NYSE breadth because he developed it when the big board (NYSE) dominated trading (80s). The Nasdaq is now a major exchange so a modern breadth indicator should include Nasdaq stocks. I would suggest using S&P 500 or S&P 1500 stocks. Nasdaq stocks account for around 30% of the S&P 500, which is the most important benchmark and where institutions are active. Nasdaq stocks account for around 33% of the S&P 1500, a broad index that covers large-caps, mid-caps and small-caps.

    The NYSE ZBT Indicator did not move below .40 in mid March, but versions using the S&P 1500 and S&P 1500 did on March 13th. This means two things. First, the S&P 500 and S&P 1500 became oversold and ripe for a bounce. Second, a possible Zweig Breadth Thrust is setting up with March 27th as the cut off date.

    The full version of this report is reversed for subscribers. We show how to set up the ZBT indicator using S&P 500 and S&P 1500 breadth, review past signals and analyze the current situation. This report includes custom SharpCharts with links and a video for deeper understanding. Click here to subscribe and gain immediate access. 

    ///////////////////////////////////////////

    Keep Reading
    Stock

    American Association of Individual Investors (AAII) Breaks Record

    Stock 3 Mins Read

    We wrote about the American Association of Individual Investors (AAII) poll results a few weeks ago. Since then, the bearish activity on the chart has broken a record for the poll. Going back to the poll’s inception in 1987, we have never seen four weeks in a row of bearish readings above 55%. We are now at bearish extremes for this indicator.

    Remember that sentiment, which this poll measures, is contrarian. This means that when market participants are extraordinarily bearish, it is a bullish indication. The opposite also applies; extraordinarily bullish readings are bearish for the market.

    Clearly, you can see that, even after and during the bear market in 2022, we never saw a cluster of readings this high. This has put the bull/bear ratio at a very low reading. Typically speaking, this would result in an upside reversal.

    One thing we would say is that sometimes poll takers are RIGHT! So while we do see extremely bearish readings, we wouldn’t bet the house that this isn’t a bear market. At DecisionPoint.com we have been monitoring our indicators and participation and we are considering that we are in the throes of a bear market rally and that it isn’t likely to stick around. However, charts like this do have us wondering if the correction is all we’ll get.

    Conclusion: Sentiment is extremely bearish on AAII and typically this will lead to a sustained rally. However, we have to understand that sometimes the respondents are correct and we’ll see more downside after all.

    The DP Alert: Your First Stop to a Great Trade!

    Before you trade any stock or ETF, you need to know the trend and condition of the market. The DP Alert gives you all you need to know with an executive summary of the market’s current trend and condition. It not only covers the market! We look at Bitcoin, Yields, Bonds, Gold, the Dollar, Gold Miners and Crude Oil! Only $50/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!

    Learn more about DecisionPoint.com:

    Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!

    Try us out for two weeks with a trial subscription!

    Use coupon code: DPTRIAL2 Subscribe HERE!

    Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin

    (c) Copyright 2025 DecisionPoint.com

    Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

    DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

    Helpful DecisionPoint Links:

    Trend Models

    Price Momentum Oscillator (PMO)

    On Balance Volume

    Swenlin Trading Oscillators (STO-B and STO-V)

    ITBM and ITVM

    SCTR Ranking

    Bear Market Rules

    Keep Reading