Altech Batteries (ATC:AU) has announced ALTECH – CERENERGY Battery Prototype Reaches Key Milestones
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Altech Batteries (ATC:AU) has announced ALTECH – CERENERGY Battery Prototype Reaches Key Milestones
Download the PDF here.
Platinum is heading for a third consecutive annual deficit in 2025, with the World Platinum Investment Council (WPIC) projecting an 850,000 ounce shortfall as demand continues to outpace weak mine supply.
In its latest Platinum Quarterly, the WPIC states that despite a 22 percent year-on-year decline in demand, a lack of metal is expected to create a supply shortfall that’s only 13 percent lower than 2024’s 968,000 ounce shortfall.
Its call comes amid a price breakout for platinum, which pushed past US$1,450 per ounce in July.
The biggest challenge for platinum has been weak refined production, which slipped to 1.45 million ounces during the quarter from 1.54 million ounces produced during the same time last year.
This has led the WPIC to predict a 6 percent decrease in primary supply to 5.43 million ounces, down from the 5.76 million ounces produced in 2024. Output declines in top producer South Africa have had outsized effects on supply, as Q1 output came in at just 713,000 ounces, as heavy rainfalls negatively impacted production.
Although output grew to 1.05 million ounces in the second quarter, it was still 8 percent lower than in Q2 2024.
Additional decreases to output are also expected in Zimbabwe and North America, slipping 4 percent and 26 percent, respectively. However, Russia is set to see a 1 percent rise in output, increasing to 686,000 ounces from 677,000 in 2024.
On a more positive note, recycling supply saw an increase to 423,000 ounces during Q2 from 379,000 reported in 2024. This has led the WPIC to predict a 6 percent annual increase to 1.6 million ounces from 1.52 million last year.
The majority of this increase comes from growth in automotive recycling, aided by higher platinum group basket prices. However, the WPIC notes that despite the growth, recycling will remain depressed compared to historic levels.
The WPIC predicts an overall supply decrease of 3 percent in 2025 to 7.03 million ounces, from 7.28 million ounces in 2024. With three years of deficits, the group is also expecting further drawdowns of above-ground stocks with a 22 percent decrease to 2.98 million ounces, representing four and a half months of demand coverage.
In recent years, stockpiles have fallen from 5.51 million ounces in 2022 to 4.8 million ounces in 2023 and 3.83 million ounces in 2024.
“I don’t think we’re going to see any meaningful mine supply response at these levels. It’s also worth bearing in mind that these are, for the most part, deep-level underground mines. So even if we had another 50 percent increase in the basket price, you’re still not going to see a supply response over the near to medium term,” he said.
Watch Sterck discuss the platinum market.
He went on to explain that development times for mining operations will take several years and wouldn’t be possible on time frames shorter than 18 months.
“Recycling is definitely much more price elastic than mine supply over the near to medium term,” Sterck said.
However, he added that while people tend to scrap vehicles at a consistent rate, the pace and overall supply entering the market from the auto sector is constrained.
“Yes, we’ve seen quite a big increase in the platinum price year to date, but it’s not the main driver of the economics for those scrap aggregators and recyclers. It’s really more of a palladium story, even more so than rhodium. So, you need a sustained increase in palladium prices to drive a meaningful change there,” Sterck said.
Despite the expected deficit, the WPIC expects demand to weaken this year.
Q2 saw automotive demand fall to 769,000 ounces, down from 788,000 ounces in the year-ago period.
The WPIC’s expectation is that the auto sector will require 3.03 million ounces of platinum in 2025, a 3 percent decrease from the 3.11 million ounces needed in 2024. Likewise, the council is expecting a decrease in industrial demand for the metal as consumption drops off by 22 percent to 1.9 million, down from 2.42 million ounces last year.
Jewelry demand, however, has been on the rise, with the expectation that it will increase by 11 percent to 2.23 million ounces in 2025. The WPIC suggests the higher growth is owed to its discount relative to gold, and notes that it is seeing the most substantial increase in China — fabrication is seen growing 42 percent in 2025 to 585,000 ounces.
“What’s driving that increase has been fabrication funded by wholesalers, and they’re promoting platinum because they’ve seen a huge drop in their gold jewelry sales,” Sterck explained.
Despite an increase in holdings of bars, coins and exchange-traded funds, overall investment demand was dragged down in Q2 by a 317,000 ounce decrease in stocks held in exchanges due to tariff-related concerns.
Sterck said ongoing uncertainty in the platinum market earlier this year caused physical metal to shift from overseas markets into the US as traders began to worry about tariffs being applied.
Although movement reversed as traders were told tariffs wouldn’t be applied, fears were later stoked when copper tariffs were announced, and an “ideological disconnect” between the White House and South Africa emerged.
“Given that the current US administration has shown that it is willing to use tariffs as a kind of stick, if you like, for enacting foreign policy, you kind of come back to this sort of whole situation where there’s a non-zero chance of platinum being subject to tariffs in the US,” Sterck commented during the conversation.
Overall, the WPIC expects total platinum demand to drop by 4 percent year-on-year in 2025 to 7.88 million ounces.
Fundamentals should remain the primary driver for platinum. Despite weakening demand through the first half of 2025, a structural deficit in the market still exists due to a lack of supply to close the gap.
However, Sterck suggested the mining supply is likely to increase before the end of the year.
“This year was particularly accentuated by flooding in South Africa during the first quarter of the year, so we do expect a bit of an increase in mining supply,” he said. However, he also noted that until there are more significant changes to the amount of supply, the price conditions aren’t likely to change much.
“Fundamentally, at the moment, it just appears that the platinum price at current levels isn’t sufficient to attract enough metal into the market to really ease those market conditions,” Sterck noted.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Canadian Prime Minister Mark Carney has announced the country’s first five nation-building projects.
In March and April, the Build Canada Strong platform was a cornerstone of Carney’s election campaign, which came amid increasing trade tensions between Canada and the US. Among his promises was to create a Major Projects Office (MPO) that would review projects deemed to be in the national interest.
That office was established over the summer, with a release saying it would be headquartered in Calgary and overseen by former TransAlta (TSX:TA,NYSE:TSE) and Trans Mountain CEO Dawn Farrell.
The MPO was created as part of a shift in the regulatory framework for approving infrastructure and resource projects in Canada. Part of that will involve streamlining reviews and assessments, as well as reducing duplication between the federal and provincial governments, an issue that has hindered investment in Canada over the last 20 years.
“One of many studies has shown that the regulatory requirements in Canada have increased by more than 40 percent since 2006 and that’s been suppressing investment growth by 9 percent,” Carney said on Thursday (September 11).
In his statement, the prime minister introduced the first tranche of projects, and suggested the second will be announced before the Canadian Football League’s Grey Cup match, scheduled for November 16.
He also outlined criteria for projects to be covered by the MPO. They must be in the national interest, and must strengthen Canada’s autonomy, resilience and security; they must also have clear benefits for Canadians.
The first group of projects selected by the MPO has already seen significant development.
The prime minister noted that they have already been through extensive consultation with Indigenous communities, and have worked with provincial and territorial governments to meet necessary regulatory standards.
For these, Carney said the goal is for the MPO to get them across the finish line.
“In some cases, they are in the last stages of regulatory approvals. In most cases, there is some aspect of the financing or support packages for the projects that remain to be determined,” he said.
Among the first five projects featured are three involving Canada’s mining and energy sectors:
Additionally, the MPO has committed to supporting the Darlington New Nuclear Project in Clarington, Ontario. This project aims to develop the first small modular reactor in a G7 country.
The MPO will also help speed up the expansion of the Contrecour Terminal container project at the Port of Montreal. This expansion is expected to boost shipping volumes along the St. Lawrence Seaway.
A project that could be included in a future announcement is the Pathways Plus carbon capture project, which the prime minister said will eventually lead to further oil sands development and the construction of a pipeline to reach markets beyond the US. Additionally, Carney said the MPO is looking at upgrades to the Port of Churchill, as well as an Arctic economic and security corridor, a high-speed rail corridor between Toronto and Québec City and Wind West Atlantic Energy, which would provide wind power to the provinces on the Atlantic coast.
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
The fifth day of trial is slated to kick off in Fort Pierce, Florida on Friday for the case of Ryan Routh, who faces charges for attempting to assassinate President Donald Trump at his West Palm Beach golf club in September 2024.
On Thursday, then-Secret Service Special Agent Robert Fercano testified on behalf of the government that Routh pointed a rifle at his face while hiding out in shrubbery at the golf course.
Fercano, currently assigned to Homeland Security Investigations, said he was scanning the sixth hole while Trump was playing the fifth when he ‘noticed several abnormalities on the fence line.’
‘There appeared to be a face, a barrel of a weapon and what I perceived to be plates, like Humvee plates like I saw in the Marine Corps,’ Fercano told Assistant U.S. Attorney Maria Medetis Long on Thursday.
Fercano said that he initially thought he may have spotted a homeless person, but then noticed the barrel followed him and that the weapon was ‘pointed directly at my face.’
‘This appeared to be a textbook ambush scenario,’ Fercano said.
Routh also questioned Fercano – and used his time to ask a series of questions regarding sniper tactics.
‘As far as being a sniper, what would be the best stance to shoot people? Standing, crouching, laying down?’ Routh asked.
‘I wasn’t a sniper … it depends,’ Fercano said.
Others who testified Thursday included Tommy McGee, a government witness and a civilian who heard gunshots break out the day of the alleged assassination attempt and took a photo of Routh and his car.
‘He looked frantic,’ McGee said Thursday. ‘He ran right in front of me. We looked at each other… it looked like he was trying to get away.’
When Justice Department prosecutor John Shipley asked McGee if Routh was the same man he saw the day of the alleged assassination attempt, McGee said yes.
According to prosecutors, Routh laid out the groundwork to kill Trump for weeks, and hid out in shrubbery on Sept. 15, 2024, when a Secret Service agent, Fercano, identified him pointing a rifle at Trump while the then-presidential candidate played golf. Although Routh pointed his rifle at the agent, he then abandoned his weapon and the scene after Fercano opened fire.
Routh was later apprehended by the Martin County, Florida, Sheriff’s Office on the I-95 interstate in a black Nissan Xterra.
According to the Justice Department, he is charged with attempted assassination of a major presidential candidate; possessing a firearm in furtherance of a crime of violence; assaulting a federal officer; felon in possession of a firearm and ammunition; and possession of a firearm with an obliterated serial number. Routh also faces state charges related to terrorism and attempted murder.
Routh, who has pleaded not guilty to all charges, was previously convicted of felonies in North Carolina in 2002 and 2010.
Routh, 59, is representing himself in his trial – a process known as ‘pro se.’ Routh sent a letter to U.S. District Judge Aileen Cannon in June notifying her of his decision to represent himself.
‘I will be representing myself moving forward; it was ridiculous from the outset to consider a random stranger that knows nothing of who I am to speak for me,’ Routh said in the letter. ‘That was foolish and ignorant, and I am sorry-a childlike mistake.’
Cannon approved the move in July, although she said that she believes it’s not a good idea for Routh to represent himself in this case. Routh has said he went to college for two years after receiving a GED certificate and told Cannon he was prepared to navigate any challenges that could come from representing himself.
Despite Routh’s decision to act singularly, court-appointed attorneys are still on call to provide standby counsel.
Fox News’ Jamie Joseph, Jake Gibson, Olivianna Calmes, Heather Lacey and The Associated Press contributed to this report.
Last-minute closed-door talks between Senate Republicans and Democrats failed to prevent a ‘nuclear option’ in the upper chamber, as frustrations on both sides killed a deal to move ahead with President Donald Trump’s nominees.
Lawmakers were inching closer to a deal that would have allowed sub-Cabinet-level nominees to be voted on in bunches, but neither side could reach a final agreement.
Senate Republicans argued that a majority of their counterparts agreed with the new proposal, but that Senate Minority Leader Chuck Schumer, D-N.Y., was still standing in the way.
‘I think the majority of Democrats are on board with it,’ Sen. James Lankford, R-Okla., told Fox News Digital. ‘And Schumer is blocking it from actually having consent to come to the floor.’
The failed deal was a modified version of a proposal first unveiled by Senate Democrats in 2023, and would have allowed 15 nominees to be batched together en bloc and voted on while still requiring two hours of debate for the group.
But when Lankford brought the proposal to the floor for consideration, Sen. Brian Schatz, D-Hawaii, blocked it.
Schatz argued that Senate Republicans were trying to rush through the negotiating process ahead of their plan to leave Washington for the weekend.
‘What they’re asking for is unanimity, and we don’t have it,’ he said. ‘And so, if you’re interested in enacting this on a bipartisan basis, the process for doing that — It is available to you. But again, it’s more a matter of running out of patience than running out of time.’
Senate Majority Leader John Thune, R-S.D., fired back ‘how much time is enough?’
‘Give me a break,’ he said. ‘Two years. Not long enough. How about eight months? Eight months of this.’
With the prospects of bipartisan deal to move nominees through Democrats’ blockade, Senate Republicans are expected to continue down the path of the ‘nuclear option.’
That means that their initial proposal, which would allow for an unlimited number of sub-cabinet level nominees to be voted on en bloc with 30 hours of debate tacked on, is expected to pass with a simple majority, and effectively change the confirmation process in the Senate.
‘We are achingly close to doing this like adults,’ Schatz said.
U.S. Secretary of State Marco Rubio said on Thursday that the U.S. would respond after former Brazilian President Jair Bolsonaro was convicted of plotting a coup to remain in power after his loss in the 2022 election, although the secretary did not go into detail about what a U.S. response would look like.
‘The political persecutions by sanctioned human rights abuser Alexandre de Moraes continue, as he and others on Brazil’s supreme court have unjustly ruled to imprison former President Jair Bolsonaro,’ Rubio wrote on X.
‘The United States will respond accordingly to this witch hunt,’ he continued.
Brazil’s Foreign Ministry argued that Rubio’s comment represented a threat that ‘attacks Brazilian authority and ignores the facts and the compelling evidence in the records.’
The ministry said Brazilian democracy would not be intimidated by the U.S. government.
Bolsonaro was sentenced to 27 years and three months in prison when he was convicted by the country’s Supreme Court on Thursday on charges of plotting a coup to stop President Luiz Inácio Lula da Silva from taking office in January 2023.
The former Brazilian leader was a close ally of U.S. President Donald Trump during the first Trump administration.
‘Well, I watched that trial. I know him pretty well. I thought he was a good president of Brazil, and it’s very surprising that could happen very much like they tried to do with me, but they didn’t get away with it at all,’ Trump told reporters, noting the legal cases against the U.S. president in recent years at the state and federal level, which included his conviction in New York.
‘But I can always say this: I knew him as president of Brazil. He was a good man,’ he added.
Trump has criticized the Brazilian judicial system and threatened tariffs on the country for its case against Bolsonaro.
In July, the U.S. president placed 50% tariffs on most Brazilian goods in response to a ‘witch hunt’ against Bolsonaro. He later exempted some Brazilian exports, including passenger vehicles and numerous parts and components used in civil aircraft.
Brazilian Supreme Court Justice Alexandre de Moraes, his unspecified allies on the court and his immediate family members will face visa revocations, according to Rubio, who criticized what he called a ‘political witch hunt’ against the former president.
That same month, Rubio announced visa revocations on Brazilian Supreme Court Justice Alexandre de Moraes, who presided over Bolsonaro’s criminal case, and his unspecified allies on the court after the court issued search warrants and restraining orders against Bolsonaro.
The U.S. Treasury Department had also sanctioned the judge over allegations of authorizing arbitrary pre-trial detentions and suppressing freedom of expression.
Bolsonaro’s son, Brazilian Congressman Eduardo Bolsonaro, said he anticipates additional U.S. sanctions against Brazilian justices following his father’s conviction.
‘We are going to have a firm response with actions from the U.S. government against this dictatorship that is being installed in Brazil,’ he told Reuters on Thursday.
He warned that justices who voted to convict the former president could face sanctions under the Magnitsky Act, which was previously used by the Trump administration against de Moraes.
‘If these Supreme Court justices keep following Moraes, they also run the risk of facing the same sanction,’ he said.
Reuters contributed to this report.
The first day of opening statements in Ryan Routh’s federal trial ended with Judge Aileen Cannon noting the case was ‘moving at a pretty fast clip,’ after a lengthy day of testimony that put the Secret Service agent who spotted Routh in the bushes, a civilian witness who chased him down, and FBI agents on the stand.
Routh is accused of attempting to assassinate President Donald Trump last year while he was golfing.
The morning began with Routh’s own rambling opening statement, which lasted just seven minutes before Cannon cut him off for going off-topic.
‘What is intent? … Why are we here? What is our intent? To love one another … Is this so difficult?’ Routh asked. He went on to reference Adolf Hitler, Vladimir Putin, Sudan’s civil war and Israeli Prime Minister Benjamin Netanyahu.
‘We have limited patience, and you don’t have unlimited license to go forward and make a mockery of the dignity of this courtroom,’ Cannon told him.
Federal prosecutors opened their case against Routh on Thursday, telling the 12 jurors he had come ‘within seconds’ of assassinating Trump during a round of golf in West Palm Beach last year.
Assistant U.S. Attorney John Shipley read Routh’s own words to the jury — ‘Trump cannot be elected’ and ‘I need Trump to go away’ — before laying out what he described as a ‘deadly serious’ plan to kill a major presidential candidate.
Shipley said Routh had traveled from Hawaii to the mainland with a Chinese military-grade assault rifle, 20 rounds of ammunition, 10 burner phones, three aliases, stolen license plates and ‘a trail of lies from Honolulu to Florida.’
Jurors then heard from Special Agent Robert Fercano, who testified he was five feet away when he saw Routh’s face and the barrel of a rifle pointing directly at him on the sixth hole of Trump International Golf Course. ‘
‘This appeared to be a textbook ambush scenario,’ he told the jury, describing how he fired while walking backward to cover. Prosecutors showed the Chinese-made SKS rifle and played Fercano’s radio calls, where ‘shots fired, shots fired, shots fired’ could be heard.
Routh, representing himself, opened his cross-examination with: ‘Good to see ya. First question, is it good to be alive?’ Fercano replied, ‘Yes, it is good to be alive.’ The agent repeatedly identified Routh as the man who smiled at him from the bushes.
Later, jurors heard from Tommy McGee, a mental health professional who testified he saw a frantic man running from the golf course and later helped authorities track down Routh’s black Nissan Xterra. McGee identified Routh in court and in video shown to the jury. Routh’s cross-examination drew objections after he asked McGee if he supported Trump and whether ‘Madea, Beyoncé and Michelle Obama will be mad’ if he did.
Additional agents who testified described recovering the rifle and other gear, and processing Routh after his arrest. One FBI agent displayed the clothing Routh allegedly wore the day he was captured, along with a debit card in his name.
Routh’s questions grew increasingly odd as the afternoon wore on — at one point asking an agent whether ‘someone who loses things’ might drill a hole in a debit card to keep it on a key ring.
Routh has pleaded not guilty to federal charges of attempting to assassinate a major presidential candidate and assaulting a federal officer. Prosecutors say he had been armed with an AK-style rifle when Secret Service agents stopped him near Trump’s golf course in West Palm Beach in September 2024. The attempt came just months after Trump had been shot and narrowly survived an assassination attempt in Butler, Pennsylvania.
The trial resumes Friday morning in Fort Pierce federal court.
After an attempt to secure a bipartisan deal failed, Senate Republicans went nuclear for the fourth time in the Senate’s history Thursday to speed up confirmation of President Donald Trump’s nominees.
Republicans had threatened turning to the ‘nuclear option,’ which would allow for a rule change with a simple majority vote, to blast through the blockade from Senate Democrats and Senate Minority Leader Chuck Schumer, D-N.Y.
Lawmakers were frustrated that, through the first eight months of Trump’s presidency, not a single nominee had moved through fast-track unanimous consent or voice votes.
Senate Majority Leader John Thune, R-S.D., argued it shouldn’t have come as a surprise to Democrats what Republicans intended to do.
‘I’ve been saying all week, ‘We’re going to vote on this on Thursday, one way or the other,” Thune said.
‘We’re going to change this process in a way that gets us back to what every president prior has had when it comes to the way that these nominees are treated here in the United States Senate — by both sides, Republicans and Democrats; both presidents, Republicans and Democrats.’
The GOP’s rule change, which was born from a revived Democratic proposal from 2023, will now allow lawmakers to vote on Trump’s nominees in batches.
Senate Republicans’ rule change, which has been pitched as beneficial to the current and future administrations, would only apply to nominees subject to the Senate’s requirement for two hours of debate, which includes sub-Cabinet-level positions and executive branch picks.
Judicial nominees, like district court judges and district attorneys, don’t fall under the rule change. Lawmakers are expected to plow through dozens of nominees early next week under the new rules with the intent of clearing the backlog of Trump’s picks, which grew to more than 140 and counting.
With the change in place, it will only take a simple majority vote to confirm the picks. Still, the decision to do bloc packages will require 30 hours of debate before a final confirmation vote.
Schumer panned the move and contended Republicans had turned the Senate into ‘a conveyor belt for unqualified Trump nominees.’
‘This is a sad, regrettable day for the Senate, and I believe it won’t take very long for Republicans to wish they had not pushed the chamber further down this awful road,’ he said.
However, before resorting to the nuclear option, lawmakers were close to a bipartisan deal that would have allowed for 15 nominees to be voted on in groups with two hours of debate.
Sen. Brian Schatz, D-Hawaii, blocked the new proposal on the floor and argued that Senate Republicans were trying to rush through the negotiating process ahead of their plan to leave Washington for the weekend.
‘What they’re asking for is unanimity, and we don’t have it,’ he said. ‘And, so, if you’re interested in enacting this on a bipartisan basis, the process for doing that — it is available to you. But, again, it’s more a matter of running out of patience than running out of time.’
A frustrated Thune fired back, ‘How much time is enough?
‘Give me a break,’ he said. ‘Two years. Not long enough. How about eight months? Eight months of this.’
The nuclear process began earlier this week when Thune teed up 48 nominees, all of which moved through committee on a bipartisan basis, for confirmation on the floor.
‘It’s time to move,’ Thune said. ‘Time to quit stalling. Time to vote. It’s time to fix this place. And the ideal way to fix it would be in a bipartisan way.’
Both parties have turned to the nuclear option a handful of times since 2010. In 2013, Senate Majority Leader Harry Reid, D-Nev., used the nuclear option to allow for all executive branch nominees to be confirmed by simple majority.
Four years later, Senate Majority Leader Mitch McConnell, R-Ky., went nuclear to allow for Supreme Court nominees to be confirmed by a simple majority. In 2019, McConnell reduced the debate time to two hours for civilian nominees.
Locksley Resources (LKY:AU) has announced LKY Doubles Landholding Abutting MP Materials in Mojave Hub
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/ NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES /
Heritage Mining Ltd. (CSE: HML) (FRA: Y66 ) (‘ Heritage ‘ or the ‘ Company ‘) is pleased to announce an exploration update on Zone 3 Extension Mega-Quartz Vein System at its Flagship Drayton-Black Lake Project (‘DBL’). Which has confirmed broad gold zone within a newly discovered ~74m wide quartz vein system (true width unknown) associated with a magnetic anomaly that extends for ~4km along strike length and is up to 200m in width (Figure 2) at its flagship Drayton Black Lake Project September 9, 2025 press release.
DBL Exploration Program Highlights:
‘We are eager to further explore the newly discovered Zone 3 Extension Mega-Quartz Vein Structure systematically. Our team has developed a comprehensive approach to further exploring this area as well as broader exploration programs before winter. I would like to thank the exploration team for their strong efforts in the discovery of a such wide vein system.’ Commented Peter Schloo , President, CEO and Director of Heritage Mining Ltd.
Discussion of Exploration Program
Soil/Till Program
The purpose of the soil and till program is to Rapidly evaluation the newly identified Zone 3 Extension – Mega Quartz Vein Structure as well as a broader evaluation of Alcona , Zone 10, Zone 3, and New Millennium with a terrain-aware B-horizon program. Bias sampling toward stable, well-drained eluvial–illuvial positions where podzolic Bf/Bh horizons preserve pathfinder chemistry. Soil/till program will be solidified following an orientation survey of key areas. The outcome of this program is to identify Pathfinders for each target defined and identify near surface mineralization footprint across target areas.
Stripping and Structural Evaluation
The Company has received a stripping permit for the area above HML25-013 along the newly identified Zone 3 Extension – Mega Quartz Vein Structure. Stripping this area with follow on sampling and structural evaluations are planned for the Company’s 2025 Exploration program at DBL. The result of this program is to further evaluate the structural discovery at surface to better prioritize further targeting methods.
Scout Diamond Drilling
Additional scout diamond drilling is planned for the 2025 exploration program at the newly identified Zone 3 Extension – Mega Quartz Vein Structure. Following the completion of Soil/Till Program and Stripping and Structural Evaluation the Company intends to commence scout drilling with additional data. The Company may initiate the scout drilling program earlier depending on additional internal evaluation.
Conclusion
The discovery of a broad gold zone in the the newly identified Zone 3 Extension – Mega Quartz Vein Structure warrants additional systemic exploration to further develop our discovery model.
Qualified Person
Stephen Hughes P. Geo , Strategic Advisor for the Company, serves as a qualified person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects and has reviewed the scientific and technical information in this news release, approving the disclosure herein.
Technical Program
Heritage Mining adheres to a strict QA/QC protocol for handling, sampling, sample transportation and analyses. Chain-of-custody protocols are designed to ensure security of samples until their delivery at the laboratory.
Sampling, Sub-sampling, and Laboratory Analysis for Heritage Mining Drayton Black Lake Project All drilling at the Drayton Black Lake project recovers NQ core. Drill core is systematically split in half using a diamond saw. A qualified geologist examines the drill core, marking intervals for sampling and indicating the cutting line. Sample lengths are typically 1.0 metre, adjusted to a minimum length of 0.5 metre as necessary to respect lithological and/or mineralogical contacts and to isolate narrow veins or structures that may contain higher-grade mineralization.
Technicians saw the core along the cutting lines determined by the geologist. One half of the core is retained as a witness sample, while the other half is submitted for analysis. Individual sample bags are securely sealed and placed into sealed bags, which are then clearly marked with their contents.
Heritage Mining submits samples for gold determination by PhotonAssay to ALS Canada Ltd. (‘ ALS ‘). ALS operates under a commercial contract with Heritage Mining.
Drill core samples are shipped to ALS for sample preparation at their facilities in Thunderbay Ontario. ALS is an ISO/IEC 17025:2017 accredited laboratory for the PhotonAssay method in addition to a variety of diverse metal determination methods.
Analytical Procedures
The ALS procedure for PhotonAssay involves lab applying preparation codes LOG-21 (sample logging via barcode), CRU-31 (fine crushing so that 70% passes through a 2mm screen) and SPL-32a (rotary splitting of a representative ~500g subsample) followed by analytical code Au-PA01 which is a non-destructive gold analysis method using high-energy X-rays with a gold detection range from 0.03 ppm to 350ppm.
After gold assays are returned, Heritage then may choose to perform multi-element assays on selected samples based on the gold results. In these cases, sample preparation codes FND-05 (locate and use remaining crushed material from Au-PA01) and PUL-32m (pulverization so that >85% passes 75 µm screen) are then applied followed by analytical code ME-MS61 (multi-element ICP-MS analysis for base metals, pathfinder elements, lithophile elements and rare earth elements).
________________________________________
Quality Assurance/Quality Control (QA/QC)
The drill program design, QA/QC, and interpretation of results are performed by qualified persons employing a rigorous QA/QC program consistent with industry best practices. Standards and blanks account for a minimum of 10% of the samples, in addition to the laboratories’ internal quality assurance programs.
Quality Control data are meticulously evaluated upon receipt from the laboratories for any failures. Appropriate corrective action is taken if assay results for standards and blanks fall outside allowed tolerances. All results disclosed by Heritage Mining have successfully passed the Company’s stringent quality control protocols.
The Company does not recognize any factors of drilling, sampling, or recovery that could materially affect the accuracy or reliability of the assay data disclosed. The assay data disclosed in this press release have been verified by the Company’s Qualified Person against the original assay certificates.
Heritage Mining notes that it has not completed any economic evaluations of its Drayton-Black Lake Project, and the project does not currently have any resources or reserves.
ABOUT HERITAGE MINING LTD.
The Company is a Canadian mineral exploration company advancing its two high grade gold-silver-copper projects in Northwestern Ontario . The Drayton – Black Lake and the Contact Bay projects are located near Sioux Lookout in the underexplored Eagle-Wabigoon-Manitou Greenstone Belt. Both projects benefit from a wealth of historic data, excellent site access and logistical support from the local community.
FORWARD-LOOKING STATEMENTS
This news release contains certain statements that constitute forward looking information within the meaning of applicable securities laws. These statements relate to future events of the Company. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as ‘seek’, ‘anticipate’, ‘plan’, ‘continue’, ‘estimate’, ‘expect’, ‘forecast’, ‘may’, ‘will’, ‘project’, ‘predict’, ‘potential’, ‘targeting’, ‘intend’, ‘could’, ‘might’, ‘should’, ‘believe’, ‘outlook’ and similar expressions are not statements of historical fact and may be forward looking information. All statements, other than statements of historical fact, included herein are forward-looking statements.
Forward looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include, among others, the inherent risk of the mining industry; adverse economic and market developments; the risk that the Company will not be successful in completing additional acquisitions; risks relating to the estimation of mineral resources; the possibility that the Company’s estimated burn rate may be higher than anticipated; risks of unexpected cost increases; risks of labour shortages; risks relating to exploration and development activities; risks relating to future prices of mineral resources; risks related to work site accidents, risks related to geological uncertainties and variations; risks related to government and community support of the Company’s projects; risks related to global pandemics and other risks related to the mining industry. The Company believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. These statements speak only as of the date of this news release. The Company does not intend, and does not assume any obligation, to update any forward‐looking information except as required by law.
This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada , the United States , or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors.
SOURCE Heritage Mining Ltd.
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