Latest news with #AlastairStill
Cision Canada
2 days ago
- Business
- Cision Canada
GoldMining Inc. Unlocks Strategic Copper Value Amid Historic Price Surge
VANCOUVER, BC, July 21, 2025 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is advancing its gold-copper strategy across the Americas in response to copper prices surging to near-record highs, up approximately 20% year-over-year. As global electrification, clean energy deployment, and U.S. trade policy intensify copper demand, GoldMining seeks to leverage its extensive portfolio of resource-stage gold and gold-copper projects to unlock significant value for shareholders. The Company's diversified holdings include 100%-owned projects with estimated mineral resources of over 1.2 billion pounds of copper in Measured and Indicated ("M&I") categories and a further 0.5 billion pounds in the Inferred category (see Table 1). In addition, the Company has a strategic ownership of approximately 79% of U.S. GoldMining Inc. ("U.S. GoldMining"), that owns the Whistler Gold-Copper Project in Alaska that hosts over 1 billion pounds of copper in estimated Indicated resources, and over 300 million pounds copper in estimated Inferred resources, alongside gold and silver (see Table 2). GoldMining's portfolio includes over a dozen projects located in tier-one mining jurisdictions, many of which contain multi-million-ounce estimated gold resources accompanied by substantial copper mineralization. The Company's aggregated estimated mineral resources (see Table 1) include approximately 12.4 million gold equivalent ounces in the M&I categories, and a further 9.1 million gold equivalent ounces in the Inferred category. The Company's estimated mineral resources are exclusive of those reported by U.S. GoldMining (see Table 2). GoldMining owns approximately 9.9 million shares of U.S. GoldMining (Nasdaq: USGO), representing an approximate 79% ownership, with a market value of approximately CAD$119 million, based on the closing price of such shares on July 18, 2025. Alastair Still, CEO of GoldMining, commented: "Copper is not only a critical metal for the energy transition, it is now a matter of national interest for governments across the Americas. GoldMining is uniquely positioned with a diversified portfolio that includes multiple resource-stage gold and gold-copper projects containing significant copper resources, including our interest in the Whistler Gold-Copper Project in Alaska, as well as the La Mina, Titiribi and Yarumalito projects which comprise our Colombian assets. The recent price appreciation of copper, gold and silver highlights the embedded, and in many ways underappreciated, value within our portfolio. Thus, we believe GoldMining offers shareholders a compelling exposure to upside potential for both gold and copper as we advance our projects and as demand for these critical metals accelerates globally." Table 1. GoldMining's Aggregated Estimated Measured, Indicated and Inferred Resource Statement across all its Projects 1,2,3. Notes to Table 1: 1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. The estimate of mineral resources may be materially affected by environmental permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues. 2. The above global resource estimate table is provided for informational purposes only and is not intended to represent the viability of any project on a standalone or global basis. The exploration and development of each project, project geology and the assumptions and other factors underlying each estimate, are not uniform and will vary from project to project. Please refer to the technical report for each respective project, as referenced herein, for detailed information respecting each individual project. 3. All quantities are rounded to the appropriate number of significant figures; consequently sums may not add up due to rounding. 4. Gold cut-off based on g/t for all projects except for Whistler, which is gold equivalent cut-off and is based on a NSR US$/t 5. Notes for Titiribi: Based on technical report titled "Technical Report on the Titiribi Project, Department of Antioquia, Colombia" with an effective date of June 14, 2021, which is available at under GoldMining's SEDAR+ profile. 6. Notes for Yellowknife: Based on technical report titled "Independent Technical Report Yellowknife Gold Project Northwest Territories, Canada" with an effective date of March 1, 2019, and amended and re-stated on June 9, 2021 which is available at under GoldMining's SEDAR+ profile. 7. Notes for Sao Jorge: Based on technical report titled "NI 43-101 Technical Report, São Jorge Project, Pará State, Brazil" with an effective date of January 28, 2025, which is available at under GoldMining's SEDAR+ profile. 8. Notes for Cachoeira: Based on technical report titled "Technical Report and Resource Estimate on the Cachoeira Property, Pará State, Brazil" with an effective date of April 17, 2013 and amended and re-stated October 2, 2013, which is available at under GoldMiningꞌs SEDAR+ profile. 10. Notes for La Mina: Based on technical report titled "NI 43-101 Technical Report and Preliminary Economic Assessment for the La Mina Project", with an effective date of July 24, 2023 which is available at under GoldMining's SEDAR+ profile. 11. Notes for Crucero: Based on technical report titled "Technical Report on the Crucero Property, Carabaya Province, Peru" with an effective date of December 20, 2017, which is available at under GoldMining's SEDAR+ profile. 12. Notes for Yarumalito: Based on a technical report titled "Technical Report: Yarumalito Gold-Copper Property, Departments of Antioquia and Caldas, Republic of Colombia" with an effective date of April 1, 2020, which is available at under GoldMining's SEDAR+ profile. Table 2: Mineral Resource Estimate for the Whistler Gold-Copper Project (Effective date: September 12, 2024): Notes to Table 2: 1. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resources will be converted into mineral reserves. 2. Inferred mineral resources are subject to uncertainty as to their existence and as to their economic and legal feasibility. The level of geological uncertainty associated with an inferred mineral resource is too high to apply relevant technical and economic factors likely to influence the prospects of economic extraction in a manner useful for evaluation of economic viability. 3. The mineral resource estimate for the Whistler, Island Mountain, and the upper portions of the Raintree West deposits have been confined by an open pit with "reasonable prospects of economic extraction" using the following assumptions: Metal prices of US$1,850/oz gold (Au), US$4.00/lb copper (Cu) and US$23/oz silver (Ag); Payable metal of 95% payable for Au and Ag, and 96.5% payable for Cu; Refining costs for g of US$8.00/oz, for Ag of US$0.60/oz and for Cu of US$0.05/lb; Offsite costs for Au of US$77.50/wmt, for Ag of US$3.50/wmt and for Cu of US$55.00/wmt; Royalty of 3% net smelter return royalty (NSR); Pit slopes are 50 degrees; Mining cost of US$2.25/t for waste and mineralized material; and Processing, general and administrative costs of US$7.90/t. 4. The lower portion of the Raintree West deposit has been constrained by a mineable shape with "reasonable prospects of eventual economic extraction" using a US$25.00/t cut-off. 5. Metallurgical recoveries are: 70% for Au, 83% for Cu, and 65% Ag for Ag grades below 10g/t. The Ag recovery is 0% for values above 10g/t for all deposits. 6. The NSR equations are: below 10g/t Ag: NSR (US$/t)=(100%-3%)*((Au*70%*US$54.646/t) + (Cu*83%*US$3.702*2204.62 + Ag*65%*US$0.664)), and above 10g/t Ag: NSR (US$/t)=(100%-3%)*((Au*70%*US$56.646g/t) + (Cu*83%*US$3.702*2204.62)). 7. The Au Equivalent equations are: below 10g/t Ag: AuEq=Au + Cu*1.771 +0.0113Ag, and above 10g/t Ag: AuEq=Au + Cu*1.771. 8. The specific gravity for each deposit and domain ranges from 2.76 to 2.91 for Island Mountain, 2.60 to 2.72 for Whistler with an average value of 2.80 for Raintree West. 9. Numbers may not add due to rounding. For further information regarding the Whistler Project and the mineral resource estimate for such project referenced herein, refer to the technical report titled "NI 43-101 2024 Updated Mineral Resource Estimate for the Whistler Project, South Central Alaska" with an effective date of September 12, 2024, available under GoldMining's profile at Qualified Person Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and 24.8 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Company's projects has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. For further information regarding the Company's projects and the resource estimates disclosed herein, please refer to the Company's most recent Annual Information Form and the technical reports filed under the Company's profile at and Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding its and U.S. GoldMining's projects and demand for copper and gold and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.
Yahoo
02-07-2025
- Business
- Yahoo
GoldMining Options Up to 80% of the Boa Vista Project to Australian Mines Limited for Total Consideration of Up to $7 million
VANCOUVER, BC, July 1, 2025 /PRNewswire/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that its wholly-owned subsidiary has entered into a binding term sheet for an earn-in agreement (the "Earn-In Agreement"), pursuant to which, among other things, Australian Mines Limited (ASX:AUZ) ("AUZ") may acquire up to an 80% interest in the Company's Boa Vista Project ("Boa Vista" or the "Project"), located in the Tapajós Gold Province, Pará State, Brazil in consideration for aggregate cash and equity payments of up to $7 million1, as described below. The Company presently owns an indirect 84.05% interest in the Project and, if the option is exercised in full, will retain a 20% interest at such time. Alastair Still, CEO of GoldMining, commented: "We are pleased to announce this option agreement which positions GoldMining to unlock value from its Boa Vista Project. At the same time, the transaction will allow management to further focus its attention on advancing its key assets, such as the São Jorge Project, where the Company recently announced its largest drilling program to date. Boa Vista is not included within our disclosed global resource estimate, but it does contain numerous exploration targets and, following the full exercise of the proposed options, GoldMining will retain upside to Boa Vista through a retained interest, future staged earn-in and milestone payments and equity in AUZ as they advance the Project. We wish AUZ success with exploration and look forward to potential future benefits for both companies." Key Earn-In Agreement Highlights: Initial Consideration: $55,000 cash payment (non-refundable); and Issuance of ordinary shares of AUZ ("AUZ Shares") valued at AUD$1 million ($884,000), calculated based on a deemed issue price per AUZ Share equal to the twenty-day volume-weighted average price ("VWAP") for AUZ Shares immediately prior to the date of execution of the Earn-In Agreement, to be distributed on a pro rata basis to the Company and the minority holder. First Option: AUZ has 3 years from the date all conditions precedent to the Earn-In Agreement are satisfied to earn the right to a 51% interest in the Project by: Incurring minimum exploration expenditures of $3,978,000 (AUD$4.5 million), inclusive of: Completing a minimum 6,000 metres of diamond core drilling; and Making three annual cash payments to the Company of $250,000. Announcing a JORC-compliant mineral resource estimate of at least 500,000 gold ounces, including at least 250,000 ounces in the measured and indicated categories; and Issuance of AUZ Shares valued at AUD$1 million ($884,000), calculated based on a deemed issue price per AUZ Share equal to the twenty-day VWAP for AUZ Shares immediately prior to the date of notice of exercise of the First Option, to be distributed on a pro rata basis to the Company and the minority holder. Upon satisfying the First Option Conditions AUZ and GoldMining will form a joint venture (51/49 respectively) on industry standard terms with AUZ as the initial operator. Second Option: AUZ may earn a further 19% interest in the Project (to 70%) within 3 years from the date of completion of the first option by: Expending a minimum annual amount of AUD$1 million ($884,000) on exploration and feasibility study activities on the Project, including a minimum of AUD$1 million ($884,000) on environmental baseline studies; and Completing a Feasibility Study containing a JORC and NI 43-101 Mineral Reserve of more than 250,000 ounces of gold. Third Option: AUZ has a further option, exercisable within 90 days from the date of completion of the second option, to earn a further 10% interest in the Project (to 80%) by: At the Company's option, either by granting the Company a shield to dilution out of the joint venture or by paying the Company the third option exercise price (which may be a mix of cash and equity, with a minimum 50% in cash) in an amount equal to the greater of either (i) or (ii): $4,420,000 (AUD$5 million); and the value of the then Mineral Resource at the Project at the time of exercise, calculated as the sum of gold oz contained within the Mineral Resource by multiplying measured resources by AUD$20/oz, indicated resources by AUD$10/oz, and inferred resources (less 300,000 oz) by AUD$2.50/oz 1Dollar amounts are in Canadian dollars unless noted. AUD converted to CAD at rate of 1 AUD = 0.884 CAD. The Earn-In Agreement is subject to customary conditions applicable to the transactions contemplated therein, including receipt of requisite shareholder approvals of AUZ and stock exchange approvals of the ASX. AUZ intends to call a meeting of shareholders to seek shareholder approval for the Earn-In Agreement. Boa Vista Project The Boa Vista Gold Project is located in the Tapajós Gold District, 350km south of the main regional city Itaituba, southwest Pará State, Brazil (see Figure 1). Access to the Boa Vista Gold Project from the cities of Itaituba or Novo Progresso is via highway BR-163 and artisanal mining roads, or via a 1.5-hour flight in a light aircraft from Itaituba. The Project comprises 3 exploration permits covering an area of approximately 9,201 ha (92 km2). GoldMining owns 84.05% of the Project with Majestic D&M Holdings, LLC owning the remaining 15.95%. The Boa Vista property is underlain by granites, granodiorites and mafic volcanics. Bedrock surface exposures identify east-west, northwest and northeast striking shear structures containing quartz sulphide veinlets, silica breccia and stock works hosted in sericite and pyrite altered and foliated granite and mafic volcanic rocks. Mineralization at most prospects is considered to be mesothermal in nature, however at some of the prospects, vein textures suggest it may be epithermal style mineralization. Coarse visible gold hosted in silica veined and brecciated rock was first discovered in surface outcrops at the VG1 prospect in 2010. Subsequent soil geochemical surveying has outlined a gold-in-soil anomaly trending to the west-northwest over 2 kilometres in length and up to 350 metres in width. Gold mineralization is associated with sericite, carbonate, silica and pyrite alteration associated with quartz stock work and brecciated granitic and mafic volcanic rocks. Qualified Person Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO) and 25.1 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, satisfaction of the conditions to the Earn-In Agreement, timing and receipt of payment of the Option, the exercise of the Option, statements respecting the Company's expectations regarding the Project, and expected work programs and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the risk that AUZ may not be able to secure the requisite approvals for the Earn-In Agreement, the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law. View original content to download multimedia: SOURCE GoldMining Inc. Sign in to access your portfolio
Cision Canada
02-07-2025
- Business
- Cision Canada
GoldMining Options Up to 80% of the Boa Vista Project to Australian Mines Limited for Total Consideration of Up to $7 million
VANCOUVER, BC, July 1, 2025 /CNW/ - GoldMining Inc. (the " Company" or " GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that its wholly-owned subsidiary has entered into a binding term sheet for an earn-in agreement (the " Earn-In Agreement"), pursuant to which, among other things, Australian Mines Limited (ASX:AUZ) (" AUZ") may acquire up to an 80% interest in the Company's Boa Vista Project (" Boa Vista" or the " Project"), located in the Tapajós Gold Province, Pará State, Brazil in consideration for aggregate cash and equity payments of up to $7 million 1, as described below. The Company presently owns an indirect 84.05% interest in the Project and, if the option is exercised in full, will retain a 20% interest at such time. Alastair Still, CEO of GoldMining, commented: "We are pleased to announce this option agreement which positions GoldMining to unlock value from its Boa Vista Project. At the same time, the transaction will allow management to further focus its attention on advancing its key assets, such as the São Jorge Project, where the Company recently announced its largest drilling program to date. Boa Vista is not included within our disclosed global resource estimate, but it does contain numerous exploration targets and, following the full exercise of the proposed options, GoldMining will retain upside to Boa Vista through a retained interest, future staged earn-in and milestone payments and equity in AUZ as they advance the Project. We wish AUZ success with exploration and look forward to potential future benefits for both companies." Key Earn-In Agreement Highlights: Initial Consideration: $55,000 cash payment (non-refundable); and Issuance of ordinary shares of AUZ (" AUZ Shares") valued at AUD$1 million ($884,000), calculated based on a deemed issue price per AUZ Share equal to the twenty-day volume-weighted average price (" VWAP") for AUZ Shares immediately prior to the date of execution of the Earn-In Agreement, to be distributed on a pro rata basis to the Company and the minority holder. First Option: AUZ has 3 years from the date all conditions precedent to the Earn-In Agreement are satisfied to earn the right to a 51% interest in the Project by: Incurring minimum exploration expenditures of $3,978,000 (AUD$4.5 million), inclusive of: Completing a minimum 6,000 metres of diamond core drilling; and Making three annual cash payments to the Company of $250,000. Announcing a JORC-compliant mineral resource estimate of at least 500,000 gold ounces, including at least 250,000 ounces in the measured and indicated categories; and Issuance of AUZ Shares valued at AUD$1 million ($884,000), calculated based on a deemed issue price per AUZ Share equal to the twenty-day VWAP for AUZ Shares immediately prior to the date of notice of exercise of the First Option, to be distributed on a pro rata basis to the Company and the minority holder. Upon satisfying the First Option Conditions AUZ and GoldMining will form a joint venture (51/49 respectively) on industry standard terms with AUZ as the initial operator. Second Option: AUZ may earn a further 19% interest in the Project (to 70%) within 3 years from the date of completion of the first option by: Expending a minimum annual amount of AUD$1 million ($884,000) on exploration and feasibility study activities on the Project, including a minimum of AUD$1 million ($884,000) on environmental baseline studies; and Completing a Feasibility Study containing a JORC and NI 43-101 Mineral Reserve of more than 250,000 ounces of gold. Third Option: AUZ has a further option, exercisable within 90 days from the date of completion of the second option, to earn a further 10% interest in the Project (to 80%) by: At the Company's option, either by granting the Company a shield to dilution out of the joint venture or by paying the Company the third option exercise price (which may be a mix of cash and equity, with a minimum 50% in cash) in an amount equal to the greater of either (i) or (ii): $4,420,000 (AUD$5 million); and the value of the then Mineral Resource at the Project at the time of exercise, calculated as the sum of gold oz contained within the Mineral Resource by multiplying measured resources by AUD$20/oz, indicated resources by AUD$10/oz, and inferred resources (less 300,000 oz) by AUD$2.50/oz 1 Dollar amounts are in Canadian dollars unless noted. AUD converted to CAD at rate of 1 AUD = 0.884 CAD. The Earn-In Agreement is subject to customary conditions applicable to the transactions contemplated therein, including receipt of requisite shareholder approvals of AUZ and stock exchange approvals of the ASX. AUZ intends to call a meeting of shareholders to seek shareholder approval for the Earn-In Agreement. Boa Vista Project The Boa Vista Gold Project is located in the Tapajós Gold District, 350km south of the main regional city Itaituba, southwest Pará State, Brazil (see Figure 1). Access to the Boa Vista Gold Project from the cities of Itaituba or Novo Progresso is via highway BR-163 and artisanal mining roads, or via a 1.5-hour flight in a light aircraft from Itaituba. The Project comprises 3 exploration permits covering an area of approximately 9,201 ha (92 km 2). GoldMining owns 84.05% of the Project with Majestic D&M Holdings, LLC owning the remaining 15.95%. The Boa Vista property is underlain by granites, granodiorites and mafic volcanics. Bedrock surface exposures identify east-west, northwest and northeast striking shear structures containing quartz sulphide veinlets, silica breccia and stock works hosted in sericite and pyrite altered and foliated granite and mafic volcanic rocks. Mineralization at most prospects is considered to be mesothermal in nature, however at some of the prospects, vein textures suggest it may be epithermal style mineralization. Coarse visible gold hosted in silica veined and brecciated rock was first discovered in surface outcrops at the VG1 prospect in 2010. Subsequent soil geochemical surveying has outlined a gold-in-soil anomaly trending to the west-northwest over 2 kilometres in length and up to 350 metres in width. Gold mineralization is associated with sericite, carbonate, silica and pyrite alteration associated with quartz stock work and brecciated granitic and mafic volcanic rocks. Qualified Person Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO) and 25.1 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, satisfaction of the conditions to the Earn-In Agreement, timing and receipt of payment of the Option, the exercise of the Option, statements respecting the Company's expectations regarding the Project, and expected work programs and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the risk that AUZ may not be able to secure the requisite approvals for the Earn-In Agreement, the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law. SOURCE GoldMining Inc.
Cision Canada
17-06-2025
- Business
- Cision Canada
GoldMining Inc. Confirms Additional Significant Gold-Antimony Results in Historic Drilling, Including 4.01 g/t AuEq over 56 metres (2.06 g/t Au & 0.55% Sb) and 2.54 g/t AuEq over 107 metres (1.44 g/t Au & 0.31% Sb), at its Crucero Project, Peru
VANCOUVER, BC, June 17, 2025 /CNW/ - GoldMining Inc. (the " Company" or " GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to report additional strong historic drill intercepts from its 100% owned Crucero Project (" Crucero" or the " Project") in Peru. These results are reported as part of the Company's previously announced ongoing review and validation of historic assay results, which has continued to show significant antimony (" Sb") mineralization, in conjunction with the known gold (" Au") mineralization, expanding the project's potential for multi-metal value creation. Drill Intercept Highlights: CPC 10-1: 2.03 g/t gold equivalent* ("AuEq") (1.58 g/t Au & 0.13% Sb) over 133.1 metres from 4 metres depth; CPC 10-3: 2.25 g/t AuEq (1.54 g/t Au & 0.20% Sb) over 88 metres, from 72 metres depth; DDH-07: 30.41 g/t AuEq (3.72 g/t Au & 7.58% Sb) over 2 metres, from 49 metres depth; DDH-24: 2.54 g/t AuEq (1.44 g/t Au & 0.31% Sb) over 107 metres, from 108 metres depth; DDH-27: 4.01 g/t AuEq (2.06 g/t Au & 0.55% Sb) over 56 metres, from 133 metres depth; and, DDH-34: 6.25 g/t AuEq (1.88 g/t Au & 1.24% Sb) over 20 metres, from 385 metres depth. *AuEq is calculated using the formula AuEq (g/t) = Au grade (g/t) + 3.52 * Sb grade (%). Au price of $2,200/oz and Sb price of $35,600/tonne (both approximately 35% below current spot price). Reports gold recovery at 100% and uses a notional antimony recovery of 70%. "These results strengthen our confidence in Crucero's potential as a dual gold-antimony system," said Alastair Still, CEO of GoldMining. "With antimony price near record highs and gold mineralization already confirmed, we are working to uncover new value in a project that has been underexplored for critical metals potential. Antimony, primarily occurring as the mineral stibnite, co-exists with gold mineralization at the Project. We believe that thorough continued analysis of the historic gold and antimony results within the existing assay database there is an opportunity to enhance the economic value for the 100% owned Crucero Project." Further to the Company's April 23, 2025, news release, which presented assay intercepts for historic drillholes DDH-01 to -04, the Company has continued to systematically compile Sb assay results within the Project drill database. This work has included the validation of historic assays against original independent laboratory certificates. Presented herein are assays for a further 20 drill holes that have been validated by the Company to date. The updated and revised Crucero database now contains assay data for 79 drill holes as well as 657 trench assays including over 17,000 assay records, 13,296 of which have independent laboratory certificates available. The Company is working with the laboratories to locate additional archived assay certificates, in order to build a comprehensive database and undertake further analysis of the distribution and grade of antimony throughout the Project. Crucero Project The Crucero Project (see Figure 1) is located in the Andes mountain range in Carabaya Province, in southeastern Peru. The village of Caserio de Oscoroque is located approximately 10 km to the west of the Project by road, and the nearest major community is the city of Juliaca, about 150 km to the south-southwest, which has an airport that provides domestic flights that connect throughout Peru. The Project contains orogenic gold mineralization that is associated with pyrite, pyrrhotite, arsenopyrite and stibnite mineralization. The mineralization is contained within altered meta-sedimentary rocks belonging to the Ananea Formation of Lower Paleozoic age. Exploration programs from 1996 to 2012 by previous operators included geological mapping, soil and rock geochemistry, trenching, surface geophysical surveys, diamond drilling and metallurgical testwork. Drilling across the Project totals 79 core holes for 24,705 metres completed from 2003 to 2012. To date, exploration of the Project has concentrated on the A1 Zone which dips vertically to steeply to the east, is approximately 750 metres along strike by 100 metres in width and is traced to a vertical depth of approximately 400 metres. The A1 Zone is hosted within meta-sediments (mudstones and siltstones) of the Ananea Group. Pyrite is the most abundant sulphide mineral and typically occurs as blebs, the distribution of which commonly appears to be along foliation or bedding. Quartz veins are uncommon and are not necessarily gold-bearing, although the highest-grade gold found to date is within quartz veins with stibnite. Prior geological studies have interpreted that the A1 Zone has been subjected to two phases of gold mineralization of which the major gold-mineralizing event formed during isoclinal folding, is largely conformable with bedding and is associated primarily with pyrite and pyrrhotite. The second phase of gold mineralization is associated with later deformation characterized by brittle deformation that resulted in the development of faulting and remobilization of gold that is associated with arsenopyrite and antimony mineralization. This later phase of gold mineralization is volumetrically minor compared to the first phase; however, it is more significant because the higher gold and antimony grades occur with this later phase. For further information regarding the Crucero Project, please refer to the technical report summary titled "43-101 Technical Report, Crucero Property, Carabaya Province, Peru" with an effective date of December 20, 2017, (the "Technical Report"), available under the Company's profile at Table 1 – Crucero Project historical drill assay intercepts. Bold intervals correspond with those reported in the 'highlights' section above. Notes: Mineralized intercepts are estimated to be approximately two-thirds of true width. *AuEq is calculated using the formula AuEq (g/t) = Au grade (g/t) + 3.52 * Sb grade (%), Uses – Au price of $2,200/oz and Sb price of $35,600/tonne (both approximately 35% below current spot). Reports gold recovery at 100% but uses a notional recovery of the Antimony of 70%. Table 2 – Crucero Project drill hole collar location coordinates for historical drill hole intercepts detailed in Table 1. Data Verification The Technical Report and the Company's historic exploration database, including verification of laboratory certificates, were used to verify the reported assay intercepts. As detailed in the Technical Report, Crucero Project drill core sampling program comprised the following procedure: prior to processing, core was photographed and measured for core loss, then logged geologically and marked for sampling. Sample lengths downhole were generally 1.0 metres within visually mineralized core, to 2.0 metres outside mineralized zones, except where samples were taken to honor geological contacts. Samples were obtained by sawing the core in half; half was placed in a numbered sample bag and the other half stored in the core box for reference. Normal security measures were taken throughout the sampling and shipping processes. All drill programs used standards, duplicates and blanks that were introduced into the sample stream on the Property during the sample preparation process, and/or introduced by the independent laboratory during the analysis. The sampled half-core was then sent for assay to either ALS Peru S.A. ("ALS"), or SGS del Peru S.A.C. ("SGS"), each an independent assay laboratory. SGS completed sample analysis in Lima, Peru, for drill holes DDH-19, DDH-20, DDH-32, DDH-33, DDH-34 (this release). Analysis utilized four standard SGS analytical procedures: 1) gold was analyzed by fire assay of a 50-gram aliquot with an atomic absorption finish (FAA515); 2) if the sample contained more than 500 ppb gold the sample was re-analyzed using fire assay and a gravimetric finish (FAG505); 3) samples were also analyzed for a 33-element package using four-acid digestion and inductively coupled plasma (ICP) with an atomic emission spectroscopy (AES) finish (ICP40B); and 4) if the sample contained more than 10,000 ppb arsenic or antimony, these elements were analyzed using atomic absorption (AAS41b). ALS Global completed sample preparation and analysis in Lima, Peru, for drill holes CPC 10-1, CPC 10-2, CPC10-3, DDH-05, DDH-06, DDH-07, DDH-08, DDH-09, DDH-10, DDH-18, DDH-21, DDH-23, DDH-24, DDH-26, DDH-27, DDH-31, DDH-35 (this release). Analysis utilized four standard ALS analytical procedures: 1) gold analyses were completed by fire assay fusion with AAS finish (Au-AA24 method) on 50 grams test weight; 2) if the sample contained more than 10,000 ppb gold the sample was re-analyzed using fire assay and a gravimetric finish (Au-GRA21); 3) antimony and other multi element analyses (total suite of 35 elements) were assayed by aqua regia digestion and ICP-MS analysis (ME-ICP41 method) on 0.25 grams test weight; and 4) antimony which assayed at the upper level of detection of 10,000 ppm, was generally re-assayed to percent level analysis via atomic absorption spectrometry (Sb-AA08 method). Qualified Person Tim Smith, P. Geo., Vice President Exploration of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Smith is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects (" NI 43-101"). About GoldMining Inc. GoldMining Inc. is a public mineral exploration company focused on acquiring and developing gold assets in the Americas. Through its disciplined acquisition strategy, GoldMining now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, the U.S.A., Brazil, Colombia, and Peru. The Company also owns approximately 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO) and 26 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding the Project, the potential and demand for antimony and expected work programs and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law. SOURCE GoldMining Inc.
Cision Canada
09-06-2025
- Business
- Cision Canada
GoldMining Announces Closing of Flow-Through Financing and Commences Exploration at Yellowknife Gold Project
Flow-through share price of $1.34 represents ~25% premium to prior closing price; marks first exploration at the Project since 2012 Yellowknife Gold Project is Home to the Former Discovery Mine, Once One of the Highest-Grade Million Ounce Plus Past-Producing Gold Mines in Canada VANCOUVER, BC, June 9, 2025 /CNW/ - GoldMining Inc. (the "Company" or "GoldMining") (TSX: GOLD) (NYSE American: GLDG) is pleased to announce that it has closed its non-brokered private placement of 373,135 common shares, which will qualify as "flow-through shares" within the meaning of the Income Tax Act (Canada) (each a "FT Share") at a price of $1.34 per FT Share for gross proceeds of $500,000 (the "Offering"). Alastair Still, CEO of GoldMining, commented: "We are pleased to commence first exploration at our 100% owned Yellowknife Gold Project since 2012. The high-grade open pit mineral resource deposits contained within the project, with estimated gold grades in excess of 2.0 g/t, are distinct from the high-grade past-producing underground Discovery Mine which produced more than 1 million ounces of gold at average grade above 1 oz per short ton. High-grade past-producing underground mines have been the source for major gold discoveries in Canada in recent decades including at Red Lake, Kirkland Lake and Windfall Lake. We are extremely excited to be commencing a new chapter of modern gold exploration in the historically prolific and high-grade Yellowknife greenstone belt." The Company will use an amount equal to the gross proceeds from the sale of the FT Shares to incur eligible "Canadian exploration expenses" that will qualify as "flow-through mining expenditures", as such terms are defined in the Income Tax Act (Canada) ("Qualifying Expenditures") in relation to the Company's Yellowknife Gold Project, on or before December 31, 2026. All Qualifying Expenditures will be renounced in favour of the subscribers effective December 31, 2025. All securities issued under the Offering are subject to a hold period expiring four months and one day from the date of closing. The Offering remains subject to final acceptance of the Toronto Stock Exchange. About the Yellowknife Gold Project Located along approximately 100 kilometers of the Yellowknife Greenstone Belt, the Yellowknife Gold Project is comprised of five individual properties: Ormsby – Bruce, Nicholas Lake, Goodwin Lake, Clan Lake and Big Sky (see Figure 1). The Ormsby property hosts the Discovery Mine which operated from 1950 to 1969 with total production estimated to be 1,023,550 oz of gold from 1,018,800 short tons (st) of ore. The average production grade of slightly more than one oz of gold per st is generally considered the highest average grade of produced gold in the Yellowknife gold district, and one of the highest grade gold mines in Canada with production over one million ounces of gold. References to past production activity at the Discovery Gold Mine is provided for information purposes and is not intended to be indicative of future exploration at the Project. The Yellowknife Gold Project deposits can be considered Archean Lode Gold deposits within an orogenic gold environment similar in age and style to mineralization documented throughout the Canadian Shield, including classic Canadian gold camps such as Red Lake, Timmins and Kirkland Lake. Gold occurs in favorable structural settings including areas of contrasting lithological competency, where brittle and ductile shearing provides the fluid pathways for deposition of quartz-carbonate veining as stockwork and lode gold quartz veining. The Yellowknife Gold Project has been the focus of substantial drilling, underground development, and historic gold production. However, no additional exploration activities have been conducted on the Yellowknife gold project since 2012. Historic drilling completed on the property totals 1,061 holes for 231,609 meters. The mineral resource estimate for the Yellowknife Gold Project is estimated to total 14.1 million tonnes ("Mt") at an average grade of 2.33 grams per tonne gold ("g/t Au") containing approximately 1,059,000 ounces ("oz") gold in measured and indicated categories and an additional 9.3 Mt at an average grade of 2.47 g/t Au containing approximately 739,000 oz Au is estimated in the inferred resource category. Mineral resources were estimated with an assumed gold price of $1,500 per ounce and metallurgical recovery of 90%. Most resources are open pit constrained resources with reasonable prospects of eventual economic extraction stated above a 0.50 g/t Au cut-off, with lesser quantities of underground resources estimated as contained within gold grade shapes above a 1.50 g/t Au cut-off based on a visual assessment of the continuity of grade. For further information regarding the Yellowknife Gold Project visit the Company website, and for information on the mineral resource estimate referenced herein, refer to the technical report summary titled "Independent Technical Report, Yellowknife Gold Property, Northwest Territories, Canada" with an effective date of March 1, 2019 and amended June 9, 2021, available under the Company's profile at and Qualified Person Paulo Pereira, P. Geo., President of GoldMining, has supervised the preparation of, and verified and approved, all other scientific and technical information herein this news release. Mr. Pereira is also a qualified person as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"). About GoldMining Inc. The Company is a public mineral exploration company focused on the acquisition and development of gold assets in the Americas. Through its disciplined acquisition strategy, the Company now controls a diversified portfolio of resource-stage gold and gold-copper projects in Canada, U.S.A., Brazil, Colombia, and Peru. The Company also owns 21.5 million shares of Gold Royalty Corp. (NYSE American: GROY), 9.9 million shares of U.S. GoldMining Inc. (Nasdaq: USGO), and over 26 million shares of NevGold Corp. (TSXV: NAU). See for additional information. Notice to Readers Technical disclosure regarding the Yellowknife Gold Project has been prepared by the Company in accordance with NI 43-101. NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. These standards differ from the requirements of the U.S. Securities and Exchange Commission ("SEC") and the scientific and technical information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC's reporting and disclosure requirements. Cautionary Statement on Forward-looking Statements Certain of the information contained in this news release constitutes "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian and U.S. securities laws ("forward-looking statements"), which involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Forward-looking statements, which are all statements other than statements of historical fact, include, but are not limited to, statements respecting the Company's expectations regarding the use of proceeds from the Offering, eligibility of exploration expenses at the Yellowknife Gold Project to qualify as "Canadian exploration expenses" and the use of funds to qualify as "flow-through mining expenditures", the Yellowknife Gold Project and its other projects and often contain words such as "anticipate", "intend", "plan", "will", "would", estimate", "expect", "believe", "potential" and variations of such terms. Such forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which GoldMining operates, which may prove to be incorrect. Investors are cautioned that forward-looking statements involve risks and uncertainties, including, without limitation: the inherent risks involved in the exploration and development of mineral properties, fluctuating metal prices, unanticipated costs and expenses, risks related to government and environmental regulation, social, permitting and licensing matters, any inability to complete work programs as expected, the Company's plans with respect to the Yellowknife Gold Project may change as a result of further planning or otherwise, and uncertainties relating to the availability and costs of financing needed in the future. These risks, as well as others, including those set forth in GoldMiningꞌs most recent Annual Information Form and other filings with Canadian securities regulators and the SEC, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements. There can be no assurance that forward-looking statements, or the material factors or assumptions used to develop such forward-looking statements, will prove to be accurate. The Company does not undertake to update any forward-looking statements, except in accordance with applicable securities law.
