21C Metals Inc.
(CSE: BULL) (OTCQB: DCNNF)

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21C Metals Commences Drilling on East Bull Palladium Project

Looking to expand on near surface 523,000 oz resource

 

Vancouver, BC – October 15, 2019 – 21C Metals Inc. (CSE: BULL) (FRA: DCR1) (OTCQB: DCNNF) (“21C Metals” or the “Company”) is pleased to announce the awarding of a diamond drill contract to Vital Drilling of Val Caron, Ontario.  The diamond drill program comprised of 10 to 15 holes will commence within the next week.

 

Following on from a successful summer sampling program (Press Release September 17, 2019) the diamond drill program will focus on expanding the Pit Constrained Inferred Mineral Resource Estimate of 523,000 Palladium Equivalent (PdEq) ounces and determining a potential higher grade starter pit location.

 

Drill holes have been selected by 21C Metals geologists with the assistance of technical advisor Richard H. Sutcliffe, PhD, PGeo.  The NI 43-101 Initial Mineral Resource Estimate (Table 1) for the East Bull Palladium Project is filed on https://www.sedar.com/.

 

The recent demand for Palladium has driven the Palladium price to over $1,600/oz (USD). The implementation of cleaner emission standards by governments around the world has increased the use of Palladium and Platinum in catalytic converters for internal combustion powered vehicles. This demand has been supported by the growth in sales of hybrid vehicles which are growing faster than electric car sales. Supply is already constrained and wage negotiation deadlocks in South Africa may potentially further effect supply[1].

 

East Bull is located ~ 90 kilometers west of Sudbury Ontario.  Sudbury is home to the fully integrated base and precious metal mining, processing, and smelting complexes of Vale Canada Limited and Glencore PLC.

 

Wayne Tisdale, President of 21C Metals, commented: “We are pleased to be able to move our exploration program forward so rapidly after such a successful summer sampling campaign. This has been possible thanks to our excellent geological and operational teams and the ease of accessibility of the project”.

 

P&E Mining Consultants Inc. has completed a Technical Report and Initial Mineral Resource Estimate on the East Bull Property for the Company. The Pit Constrained Inferred Mineral Resource Estimate at a 0.8 g/t PdEq cut-off is summarized in Table 1.

 

Table 1
East Bull PGM Deposit Pit Constrained Mineral Resource Estimate
at 0.8 g/t PdEq Cut-Off (1-4)
Classif-icationTonnes

(M)

Au

(g/t)

Pt

(g/t)

Pd

(g/t)

Rh

(g/t)

Cu

(%)

Ni

(%)

Co

(%)

3 PGM + Au

(g/t)

PdEq (g/t)PdEq

(koz)

Inferred11.10.050.260.580.040.140.050.010.931.46523

 

(1)       Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues, although 21C Metals is not aware of any such issues.

 

(2)       The Inferred Mineral Resource in this estimate has a lower level of confidence that that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

 

(3)       The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines.

 

(4)          Values in the table may differ due to rounding.

 

The PdEq cut-off is based on the following 24-month trailing average US$ metal prices as of January 31, 2018: Pd – $767/oz; Pt – $973/oz; Au – $1,262/oz; Rh – $1,000/oz; Cu – $2.55/lb; Ni – $4.62/lb; Co – $20/lb.  In addition to metal prices, the PdEq cut-off grade takes into consideration assumptions for mining costs, concentrate recoveries, smelter payables and refining charges that are summarized in the NI43-101 technical report.

 

Information regarding the NI43-101 technical report and resource estimate in this news release has been reviewed and approved by Independent Qualified Person, Eugene Puritch, P.Eng., FEC, CET, President of P&E Mining Consultants Inc.

 

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

 

To join 21C Metals’ investor group please follow this link: http://bit.ly/Join21CGroup.

 

For additional information please contact:

 

21C Metals Inc.

Wayne Tisdale, President and CEO

T: (604) 639-4455

 

Investors are cautioned that the estimates do not mean or imply that economic deposits exist on the Property.  Other than as provided for in this press release, the Company has not undertaken any independent investigation of the estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information.  The Company believes that the information contained in this press release are relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company’s exploration program.

 

For Notice

 

Pavey Ark’s samples were analyzed by Actlabs in Ancaster, Ontario.  All samples were transported under the direct supervision of R.H. Sutcliffe and delivered from the Project directly to the laboratory receiving facilities of Actlabs in Ancaster, Ontario.  Samples were analyzed for Pt, Pd, Au by 50 g fire assay with ICP-OES finish and for Ag, Co, Cu, Ni by total digestion with an ICP finish at Actlabs, in Ancaster, ON.  Rh was analyzed separately by 30 g fire assay with ICP-MS finish at Actlabs in Ancaster, ON.

 

Actlabs is an independent commercial laboratory that is ISO 9001 certified and ISO 17025 accredited. The accreditation program includes ongoing audits to verify the QA system and all applicable registered test methods.

 

Actlabs has developed and implemented a Quality Management System (QMS) designed to ensure the production of consistently reliable data at each of its locations including the Ancaster laboratories. The system covers all laboratory activities and takes into consideration the requirements of ISO standards.  Actlabs maintains ISO registrations and accreditations. ISO registration and accreditation provide independent verification that a QMS is in operation at the location in question.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

Source:  21C Metals Inc.

 

[1] https://www.reuters.com/article/global-precious/precious-palladium-sets-all-time-high-on-supply-angst-gold-pares-gains-idUSL3N2632YO

21C Metals Examines Large Scale Palladium System

Vancouver, BC – September 17, 2019 – 21C Metals Inc.  (CSE: BULL) (FRA: DCR1) (OTCQB: DCNNF) (“21C Metals” or the “Company”) is pleased to announce the following highlights from the first sampling program on the East Bull Palladium Project and field program on the Agnew Lake Project:  The East Bull Property hosts an inferred resource of 11.1 million tons @ 1.46 g/t Palladium Equivalent (Pd Eq) for a total estimate of 523,000 ounces of PdEq (See July 3 press release and below).

 

East Bull Property:

 

The grab sampling and mapping of the East Bay Palladium mineralization has allowed 21C to determine locations to channel sample.  The sampling focused on selecting sample locations that were not previously documented.  The sampling and mapping were successful in defining areas of the mineralization that when channel sampled will provide economic mineralized intercepts that will increase confidence of the mineral resource.  The channel samples will also allow definition of areas of higher grade Palladium that could to direct 21C to potential starter pit locations.  The channel sample is a continuous sample cut using a diamond bladed rock saw.

 

  • 73 grab samples selected to help identify the Palladium bearing rock types of the mineralized trend. Grab samples are used to determine the presence mineralization and may not be indicative of the overall grade of the zone.
  • Sampling successfully defined locations for channel sampling and the higher grades could indicate potential zones within the mineralized zone for higher grade starter pits.
  • Range of Palladium assay sample results (1000 ppb is equivalent to 1.0 grams per ton).

 

 

 

Number of SamplesRange Palladium (ppb)
8Below detection limit
29< 100
17101 to 500
5501 to 1000
51001 to 2000
62001 to 4000
34001 to 6569
  • Twelve (12) samples had values of >2000 ppb (2.0 grams per ton) Platinum + Palladium + Gold.

 

Sample No.Palladium (Pd) ppbPlatinum (Pt) ppbGold (Au) ppb
E59284032135641176
E592841565693340652
E59284162244819107
E5928417160240174
E59284183101791279
E59284282784908118
E592843039671827230
E592843155431862440
E592843245131354188
E5928365140257390
E59283741830481139
E592837739311024174

 

  • Geological mapping and review of the Freewest diamond drilling in 2000, indicates the northeast trending faults are composed of multi intrusions of mafic to diabase dikes. Left lateral movement on the dikes is measured to be up to 100 meters.

 

Agnew Lake Property:

 

  • Review of historical data indicated that various Palladium-Platinum showings were acquired within the staked area.
  • A two-week prospecting and grab sampling program was completed to assess the locations and grade of the various showings.
  • A total of 58 samples have been submitted to the lab.

 

Mr Wayne Tisdale commented, “The grab sample program has helped confirm the palladium bearing rock types and highlighted key areas to be targeted by a trenching program. While any grab sample grades are to be treated with caution, we are very pleased with the initial sampling program and can look forward to the trenching results with confidence.”

 

Grab samples are selected samples and are not necessarily indicative or reflective of mineralization that may be hosted on the property.

 

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

 

To join 21C Metals’ investor group please follow this link: http://bit.ly/Join21CGroup.

 

For additional information please contact:

21C Metals Inc.

Wayne Tisdale, President and CEO

T: (604) 639-4455

 

The Company believes that the information contained in this press release is relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company’s exploration program.

 

21C Metals geologists delivered the samples to the SGS Canada Inc. preparation facility in Sudbury and analysis was completed at the SGS lab in Lakefield, ON. Gold, platinum and palladium are analysed using a fire assay (30 gm) with an inductively coupled plasma mass spectrometry (ICP-AES) finish (method code: GE-FA1313).  Detection limits are Au: 1 ppb; Pt: 10 ppb; and Pd 1 ppb.

 

Base metals are analyzed using a multi-element atomic emission spectroscopy (ICP-OES; method code GO-ICP90Q) technique following Na2O2 fusion.

 

For prospecting sampling 21C relied on the SGS internal QA/QC process.

 

The Company engaged P&E Mining Consultants Inc. to complete a Technical Report and Initial Mineral Resource Estimate on the East Bull property (see July 3, 2019 press release).

 

The PdEq calculation is based on the assumptions in Table 14.2.  Metal prices are based on 24 month trailing averages at January 31, 2018.  Concentrate recovery, smelter payables and refining charges are based on comparable projects.

 

Table 14.2
Metal Price, Concentrate Recovery, Smelter Payable, and Refining Charge Assumptions for PdEq Calculation
ElementUnit of Measure-mentMetal Price *
($US/lb or oz)
Concentrate
Recovery
Smelter
Payable
Refining Charge
($US/lb or oz)
Nilb$4.6230%90%$0.50
Culb$2.5585%85%$0.08
Auoz$1,26275%85%$7.50
Ptoz$97380%90%$7.50
Pdoz$76782%90%$7.50
Rhoz$1,00080%90%$7.50
Colb$2071%50%$3.00

*  January 31, 2018 two year trailing average prices

 

Using these assumptions the PdEq in g/t is calculated as:

 

PdEq g/t = (Ni % x 1.36) + (Cu % x 2.18) + (Au g/t x 1.43) + (Pt g/t x 1.24) + (Rh g/t x 1.27) + (Co % x 7.38) + Pd g/t

 

Mineral Resource Estimate PdEq Cut-Off Grade Calculation CDN$

 

Pd Price                                                          US$914/oz

$US=$CDN Exchange Rate $                       US$0.77 = CAD$1.00

Pd Recovery                                                  80%

Smelter Payable                                           90%

Mining Cost                                                   $2.00/t

Overburden Mining                                     $1.50/t

Process Cost                                                  $18/t

G&A Cost                                                       $4/t

 

Therefore, the PdEq cut-off grade for the pit constrained Mineral Resource Estimate is calculated as follows:

 

Operating costs per mineralized tonne = ($18 + $4) = $22/tonne

 

[($22)/[($914/$0.77 Exchange Rate/ 31.1035 x 80% Recovery x 90% Payable)]  = 0.8 g/t Pd

 

(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues, although 21C Metals is not aware of any such issues. 

 

(2) The Inferred Mineral Resource in this estimate has a lower level of confidence that applied to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration. 

 

(3) The Mineral Resources were estimated using the Canadian Institute of Mining, Metallurgy, and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines. 

 

(4) Values in the table may differ due to rounding.

 

A technical report supporting the mineral resource is filed on SEDAR.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

 

Source:  21C Metals Inc. 

21C FURTHER EXPANDS SCALE OF PALLADIUM PROJECT

Vancouver, BC – July 17, 2019 – 21C Metals Inc. (CSE: BULL) (OTCQB: DCNNF) (FRA: DCR1)  (“21C Metals” or the “Company”) is pleased to announce the acquisition of a significant palladium project in Ontario.  The Agnew Lake property was acquired after discussions with the company’s advisors and review of the Ontario Government geological data base.  The Agnew Lake Property is located 80 kilometres west of Sudbury, Ontario home of Glencore and Vale’s Canadian Nickel-Copper-Platinum Group Elements mining and smelting operations.

 

The Agnew Lake Property is comprised of over 260 claims (~6000 Ha) and is part of the larger East Bull Lake-Agnew Lake mafic-ultramafic complex.   The Company believes this acquisition will position it to be one of the larger none producing palladium explorers in North America.

 

The Agnew Lake magmas have major element compositions that are very similar to the model parent liquids proposed for the mafic portions of the Stillwater and Bushveld Complexes.  The Agnew Intrusion and the East Bull Lake Intrusion are also considered to host significant PGE–Cu–Ni mineralization in marginal rock units (Peck & James, 1990; Peck et al.,1993a, 1993b, 1995; Vogel et al., 1997).

 

The Company continues exploration methods on the East Bull Property and surface grab sample results from geological structural mapping should be available in 3 weeks.  (Grab samples are selective in composition and may not be representative of the total mineralized body).  Continuation of exploration will include evaluation of the Agnew Lake Property.  Detailed compilation of public data on Agnew Lake Property has commenced and a search for privately held data has started.

 

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

 

For additional information please contact:

21C Metals Inc.

Wayne Tisdale, President and CEO

T: (604) 639-4455

 

Investors are cautioned that the estimates do not mean or imply that economic deposits exist on the Property.  Other than as provided for in this press release, the Company has not undertaken any independent investigation of the estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information.  The Company believes that the information contained in this press release are relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company’s exploration program.

 

Source:  21C Metals Inc.

21C Metals Commences Exploration on Tisova Copper-Cobalt Project

Vancouver, BC –  July 12, 2019 – 21C Metals Inc. (CSE: BULL) (FSE: DCR1) (OTCQB: DCNNF) (“21C Metals” or the “Company”) is pleased to announce the commencement of exploration on the German portion of the Tisova project. The aim of the exploration is to assess the Copper – Cobalt potential in the interpreted rift system that hosts the Tisova Copper-Cobalt past producer in the Czech Republic.

 

The Company has contracted Beak Consultants of Germany to complete a geological comprehensive data compilation and field study to evaluate the copper-cobalt anomalies defined by the German Government geological work.

 

Previous soil sampling completed has defined a cobalt anomaly that has a footprint of approximately 300 X 300 metres. This anomaly is greater than 25 ppm cobalt and has not been explained or followed up with groundwork. Other stream sediment samples in the area have indicated copper and cobalt anomalies.

 

The Company has posted the compilation report completed by Beak Consultants for TGER Pty. Ltd. which illustrates the extensions of the Tisova mineralized trend onto the German concession and potential strike length potential of mineralization.

 

Mr. Garry Clark, P. Geo., of Clark Exploration Consulting, is the “Qualified Person” as defined in NI 43-101, who has reviewed and approved the technical content in this press release.

 

For additional information please contact:

21C Metals Inc.

Wayne Tisdale, President and CEO

T: (604) 639-4455

 

Investors are cautioned that the estimates do not mean or imply that economic deposits exist on the Property. Other than as provided for in this press release, the Company has not undertaken any independent investigation of the estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that the information contained in this press release are relevant to continuing exploration on the Property because they identify significant mineralization that will be the target of the Company’s exploration program.

 

Source:  21C Metals Inc.

About 21C Metals


21C Metals is an exploration company focused on the acquisition and development of deposits of production grade metal which are critical components to current and future vehicle technology. Palladium is necessary for internal combustion engines (specifically catalytic converters) and cobalt is necessary for electric vehicle batteries.

 

PROJECTS

 

> Tisova Copper/Cobalt Project

 

The Tisova project is located on the Czech/German border hosted by the Kraslice Sequence, a Cambrian-age continental rift of sediments and volcanics. The Tisova VMS system has been tentatively identified as existing over 1.9 km down dip and 2.0 km along strike. Within the Kraslice Sequence, discrete copper/cobalt bearing VMS horizons appear to occur within a 100m thick assemblage termed the Tisova Horizon. 21C Metal’s geologists, working with recognized world experts in VMS deposits, have developed a preliminary exploration signature for copper/cobalt on the property. It is currently thought that there maybe be as much as a prospective 30 km belt.

 

 

There is a long history of mining in the area, making the logistics for exploration straightforward. Similarly, the regulatory environment has a long established regime, allowing for certainty in this regard.

 

 

 

 

> East Bull Palladium Property

 

  • February, 2019, 21C acquires the 992 hectare East Bull property in Gerow Township, Ontario, Canada
  • The property benefits from drilling, surface trenching and some geophysics which have identified significant precious and base metal mineralization in a number of zones
  • Analysis and testing of the historical exploration has resulted in a 43-101 compliant resources estimate of 11.1m tonnes of ore at a grade of 1.46g/t PdEq for a total of 523,000 ounces of Palladium
  • The independent analysis of the updated 43-101 also highlighted the potential significant upside potential for the resource estimate after further exploration

 

Management

 

Wayne Tisdale
President & Director

 

Mr. Tisdale has 40 years of experience in investing, financing and consulting to private and public companies in the areas of mining, oil and gas, and agriculture. He runs his own merchant bank and sits on the board of a number of private and public companies. Over his career, Mr. Tisdale has raised over $2bn of both equity and debt financing and has been instrumental in founding several highly successful companies, including Rainy River Resources (purchased by Newgold) and Ryland Oil Corporation (purchased by Crescent Point). Most recently, Mr. Tisdale was integral to the successful sale of US Cobalt to First Cobalt Corporation, creating a post-transaction cobalt company valued at almost $400 million.

 

 

Michelle Gahagan
Chair & Director

 

Ms. Gahagan has been a director of 21C Metals Inc. since January, 2011. Ms. Gahagan is currently a director of Moovly Media Inc (TSXV: MVY) and Versus Systems Inc. (CSE: VS). Prior to her involvement in merchant banking, Ms. Gahagan graduated from Queens University Law School and practiced corporate law for 20 years. Ms. Gahagan has extensive experience advising companies with respect to international tax-driven structures, mergers and acquisitions. Ms. Gahagan has successfully completed the Investment Management Certificate course offered by the Financial Conduct Authority (UK).

 

Most recently, Ms. Gahagan was integral to the successful sale of US Cobalt to First Cobalt Corporation, creating a post-transaction cobalt company valued at almost $400 million.Kelsey ChinChief Financial Officer & Corporate SecretaryMs. Chin, a Chartered Professional Accountant, has over 15 years of experience in audit, finance and accounting within the mining, exploration and technology industries. She has served as director and executive officer for several publicly traded companies where she was responsible for all aspects of financial services, financial reporting, corporate governance, and has led numerous financings, mergers and acquisitions to successful completion.

 

SOURCE:  https://21cmetals.com/

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