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Target CEO to meet with Rev. Al Sharpton as civil rights groups threaten boycotts over DEI

Business 6 Mins Read

Target CEO Brian Cornell will meet with the Rev. Al Sharpton this week in New York as the retailer faces calls for a boycott and a slowdown in foot traffic that began after it walked back key diversity, equity and inclusion programs, the civil rights leader told CNBC Wednesday.

The meeting, which Target asked for, comes after some civil rights groups urged consumers not to shop at Target in response to the retailer’s decision to cut back on DEI. While Sharpton has not yet called for a boycott of Target, he has supported efforts from others to stop shopping at the retailer’s stores.

“You can’t have an election come and all of a sudden, change your old positions,” said Sharpton. “If an election determines your commitment to fairness then fine, you have a right to withdraw from us, but then we have a right to withdraw from you.”

The civil rights leader said he would consider calling for a Target boycott if the company doesn’t confirm its commitment to the Black community and pledge to work with and invest in Black-owned businesses.

“I said, ‘If [Cornell] wants to have a candid meeting, we’ll meet,’” Sharpton said of the phone call Target made to his office. “I want to first hear what he has to say.”

A Target spokesman confirmed to CNBC that the company reached out to Sharpton for a meeting and that Cornell will talk to him in New York this week. The company declined further comment.

In January, Target said it would end its three-year DEI goals, no longer share company reports with external diversity-focused groups like the Human Rights Campaign’s Corporate Equity Index and end specific efforts to get more products from Black- and minority-owned businesses on its shelves. 

Just days after the announcement, foot traffic at Target stores started to slow down. Since the week of Jan. 27, Target’s foot traffic has declined for 10 straight weeks compared to the year-ago period, according to Placer.ai, an analytics firm that uses anonymized data from mobile devices to estimate overall visits to locations. Target traffic had been up weekly year over year before the week of Jan. 27.

The metric, which tallies visits to brick-and-mortar locations, does not capture sales in stores or online, but can indicate which retailers are drawing steadier business. While Target has been struggling to grow its sales for months as shoppers watch their spending, the stretch of declining visits came as some civil rights groups and social media users criticized the DEI decision and urged shoppers to spend their money elsewhere.

Target declined to comment on the figures, saying it doesn’t discuss third-party data.

At the convention earlier this month for his civil rights organization, the National Action Network, Sharpton said the group would call for a boycott of PepsiCo if the company didn’t agree to meet with the organization within 21 days. In February, the food and beverage company behind brands like Doritos and Mountain Dew announced it would end its DEI workforce representation goals and transition its chief DEI officer role into another position, among other changes.

This week, leaders from Pepsi met with Sharpton and his team. He did not confirm whether Pepsi made any commitments, but did say it was encouraging that Pepsi’s CEO Ramon Laguarta attended. He added that the two will continue their discussions.

Sharpton’s meetings with companies including PepsiCo and Target — and his openness to boycotts — mark one of the first meaningful efforts to push back against the war conservative activists like Robby Starbuck have waged on DEI. Starbuck, a movie director-turned-activist, has urged companies to drop DEI policies in part by sharing what he considers unflattering information about their initiatives with his social media followers. He has successfully pressured a wide range of corporate giants to rethink their programs.

With its decision to roll back DEI efforts, the cheap chic retailer Target joined Walmart, McDonald’s, Tractor Supply and a slew of others that scrapped at least some DEI initiatives as they grew concerned that the programs could alienate some customers or land them in the crosshairs of President Donald Trump, who has vowed to end every DEI program across the federal government.

Target’s decision contrasted with Costco, which shook off pressure from conservative activists to maintain its DEI programs. Shareholders of the membership-based wholesale club soundly rejected a proposal in late January that requested a report on the risks of DEI initiatives.

NAN has called for so-called “buy-cotts” at Costco, and has brought people to stores in Tennessee, New York and New Jersey. It gave them gift cards to shop with at the warehouse club.

In the month of March, Target’s store traffic declined 6.5%, while the metric rose 7.5% year over year at Costco, Placer.ai data show.

Target’s challenges run deeper than DEI backlash, and resistance to its policy change only added to its issues. The discounter’s annual revenue has been roughly flat for four years in a row as it’s struggled to drive consistent sales gains.

Margins have been under pressure, as consumers buy more of groceries and necessities and less of more profitable categories like home goods and clothing. And the company has pinned its problems on a laundry list of problems in recent years, including having the wrong inventory; losing money from theft, damaged goods and other types of inventory losses; backlash to its collection for Pride Month and pricier costs from rushing shipments.

Competition has grown fiercer too, as big-box rival Walmart has remodeled stores, launched new private brands and attracted more high-income shoppers.

In February, Target gave weak guidance for the first quarter and said it expected sales to grow 1% for the full year. 

In his meeting with Cornell, Sharpton said he will ask for Target to follow through on pledges it made after police killed George Floyd in the company’s hometown of Minneapolis.

“You made commitments based on the George Floyd movement … what changed?” said Sharpton. “Are you trying to say … everything’s fine now, because the election changed? That’s insulting to us.”

In the wake of Floyd’s murder, Cornell said the event moved him.

“That could have been one of my Target team members,” Cornell said in 2021 at an event hosted by the Economic Club of Chicago, recounting his thoughts as he watched the video of Floyd taking his final breaths.

At the time, he said it motivated him to step up Target’s efforts to fight racial inequities.

“We have to be the role models that drive change and our voice is important,” he said at the event. “We’ve got to make sure that we represent our company principles, our values, our company purpose on the issues that are important to our teams.”

This post appeared first on NBC NEWS

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Hermès to hike U.S. prices for iconic bags and scarves in response to Trump tariffs

Business 3 Mins Read

French luxury group Hermès will raise its U.S. prices from the start of May in order to offset the impact of President Donald Trump’s tariffs, the company’s finance chief said Thursday.

The company — which earlier this week overtook rival LVMH as the world’s biggest luxury firm by market capitalization — is best-known for its Birkin and Kelly handbags, along with colorful scarves retailing for hundreds of dollars. Other products include jewelry, watches, shoes, perfume and make-up.

“The price increase that we’re going to implement will be just for the U.S. since it’s aimed at offsetting the tariffs that only apply to the American market, so there won’t be price increases in the other regions,” Eric du Halgouët, Hermès’ executive vice president for finance, said during an analyst call that followed the firm’s first-quarter results release on Thursday.

Hermès said prices will rise from May 1 and aim to “fully offset” the impact of the universal 10% tariff imposed by the White House in early April, rather than the 20% duties the European Union may face unless it can negotiate a new deal during Trump’s 90-day reprieve.

U.S. consumers are expected to contend with higher prices on a host of items, ranging from electronics and clothes to cars and houses, as the impact of tariffs bites.

In its first-quarter results, Hermès reported 11% sales growth in the Americas, which accounted for nearly 17% of its sales revenue in the first three months of the year.

First-quarter revenue growth came in at 7% on a constant currency basis overall, just shy of consensus expectations of an 8% to 9% increase, Deutsche Bank analysts said in a note. It also represented a slowdown from 17.6% growth in the fourth quarter of 2024.

The Deutsche Bank analysts said that the results were nonetheless “robust,” with weakness driven by watches and perfume sales, while Citi described them as “a respectable outcome.”

Hermès shares dipped 1.3% in Thursday morning deals, taking its value to 244.5 billion euros ($278.2 billion) — just shy of LVMH’s 245.7 billion euros — according to a CNBC calculation of LSEG data.

LVMH, controlled by France’s billionaire Arnault family, unsuccesfully tried to acquire Hermès a decade ago. Despite drawing level in market cap, Hermès’ annual revenue is less than a fifth that of sprawling LVMH, which owns luxury brands Louis Vuitton and Dior, alcohol business Moët Hennessy, U.S. jeweler Tiffany and beauty chain Sephora.

LVMH on Tuesday reported an unexpected decline in first quarter sales, flagging a fall in its dominant fashion and leather goods division.

Analysts have predicted the luxury sector will be less impacted by tariffs than other retailers due to their ability to pass on increased import costs to a high-spending clientele. However, they would encounter major headwinds from a broad pullback in consumer spending as a result of weaker global economic growth or recessionary fears.

This post appeared first on NBC NEWS

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Secure Your Retirement Happiness: Check Your 401(k) Now!

Stock 4 Mins Read

With so many articles and videos on popular media channels advising you not to look at your 401(k) during this market downturn, avoiding taking the other side is tough. If you are close to retirement or retired, isn’t a market downturn a good excuse to look at your 401(k)? After all, you’ve stashed away hard-earned money to enjoy those big post-retirement plans.

The stock market is well-known for its uncanny ability to throw you surprises, but the recent headline-driven price action is especially difficult to navigate. While it’s true that, over the longer term, the broader market tends to trend higher, if you’re not in a position to patiently wait for that to occur, you may want to reevaluate your portfolio sooner rather than later. The “set-it-and-forget-it” strategy can work at times but not always.

Is the Stock Market Headed Lower?

Let’s look at where the overall stock market stands by analyzing the S&P 500 ($SPX), starting with the daily chart.

FIGURE 1. DAILY CHART OF S&P 500. After falling below its 200-day moving average, the S&P 500 is struggling to remain above its 5400 level. Will it hold? Chart source: StockCharts.com. For educational purposes.

It’s clear the S&P 500 is trending lower and that the 50-day simple moving average (SMA) has crossed below the 200-day SMA, further confirming the downward trend of the index. After reaching a high of 6147.43 on February 19, 2025, $SPX started its decline, falling below its 50-day SMA and then its 200-day SMA.

Although the index tried to bounce back to its 200-day SMA, it failed to break above it and fell to a low of 4835.04 on April 7, 2025. Since then, the S&P 500 has been trying to bounce back. It filled the April 4 down gap, but has been stalling around the 5400 level since then, on lower volume. It’s almost as if investors are sitting on the sidelines for the next tariff-related news which could send the S&P 500 higher or lower.

Going back, the 5400 was a support level for the September 2024 lows, between the end of July and early August, and in mid-June. There have also been price gaps at this level during those times. The chart of the S&P 500 has a horizontal line overlay at the 5400 level. This could act as a resistance level for a while, or the index could soar above it, in which case this level could act as a support level.

Save the chart in one of your ChartLists and watch how the price action unfolds for the next few weeks.

Where’s the Breadth?

It’s worth monitoring the Bullish Percent Index (BPI) of the S&P 500. The chart below displays the S&P 500 BPI ($BPSPX) in the top panel and $SPX in the bottom panel.

FIGURE 2. BULLISH PERCENT INDEX FOR THE S&P 500. The $BPSPX recovered after falling below 12.5. Even a move over 50 should be eyed with caution. Chart source: StockCharts.com. For educational purposes.

The recent slide in the S&P 500 took the $BPSPX to well below 12.5. It has reversed and is above 30, which is encouraging. A rise above 50 is bullish but, as you can see in the chart, the last time $BPSPX crossed above 50 (dashed blue vertical lines), it turned back lower, only to start its descent to the lowest level in the past year. Save your excitement until the $BPSPX is over 50 and a turnaround in the $SPX is in place.

This could take a while, which is why, if you’re close to retirement or already retired, you may have to consider selling the rip, or if the situation turns bullish, buy the dip. It may be time to unwind some positions, so evaluate your portfolio and make decisions that are aligned with your lofty retirement plans.

So, heck yeah! Look at your 401(k) now!

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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Trade Pullbacks Like a Pro: Simple Moving Average Strategy That Works

Stock 1 Min Read

Moving average strategy, trend trading, and multi-timeframe analysis are essential tools for traders. In this video, Joe demonstrates how to use two key moving averages to determine if a stock is in an uptrend, downtrend, or sideways phase. He then expands on applying this concept across multiple timeframes to gain a significant edge when trading pullbacks.

In addition, Joe provides insights into the current state of commodities, highlighting areas showing signs of improvement, and covers major indices. Finally, he addresses viewer-submitted symbol requests, including LMT, BABA, and more, offering his technical analysis on each.

The video premiered on April 16, 2025. Click this link to watch on Joe’s dedicated page.

Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

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200-Day Moving Average Confirms Bearish Phase

Stock 4 Mins Read

When markets get more volatile and more unstable, I get the urge to take a step back and reflect on simple assessments of trend and momentum.  Today we’ll use one of the most common technical indicators, the 200-day moving average, and discuss what this simple trend-following tool can tell us about conditions for the S&P 500 index.

Nothing Good Happens Below the 200-Day Moving Average

I’ve received a number of questions recently as to why I’m not way more bullish after the sudden rally off last Wednesday’s low.  I love to respond with Paul Tudor Jones’ famous quote, “Nothing good happens below the 200-day moving average.”

To be clear, the 200-day moving average is almost 500 points above current levels, so it would take quite a rally to achieve that price level any time soon.  But with the VIX still well above the 30 level, that means the market is expecting wide price swings and big moves could be very possible.

But generally speaking, any time I see a chart where the price is below a downward-sloping 200-day moving average, I feel comfortable making the basic assumption that the primary trend is down.  And until the SPX can regain this long-term trend barometer, I’m inclined to treat the market as “guilty until proven innocent.”

Tracking the 200-Day With the New Market Summary Page

The new and updated version of the StockCharts Market Summary page features a table of major equity indexes and includes a comparison to the 200-day moving average for each index.  I’ve sorted today’s table in descending order based on this metric, which allows us to compare the relative position of different indexes and focus on which areas of the equity market are showing real strength.

We can see that only the Dow Utilities remain above the 200-day moving average, even with the strong bounce we’ve observed over the last week.  The S&P 500 is about 8% below its 200-day moving average, and for the Nasdaq Composite it’s over 11%.  So this basically implies that the S&P could see another 8% rally, drawing in all sorts of investors, yet still remain in a bearish phase based on its position relative to the 200-day.

Three Stocks Facing a Crucial Test This Week

One chart I’m watching closely this week involves three key growth stocks that are actually very near their own 200-day moving average.  If these Magnificent 7 stocks have enough upside momentum to power through the 200-day, then there could definitely be hope for the S&P 500 and Nasdaq to follow suit in the coming weeks.  

Note in the top panel how Meta Platforms (META) powered above the 200-day last Wednesday after the announcement of a 90-day pause in tariffs.  But after closing above the 200-day for that one day, META broke right back below the next day.  META has closed lower every trading day since that breakout.

Neither Amazon.com (AMZN) nor Tesla (TSLA) reached their own 200-day on last Wednesday’s rally, and both are now rapidly approaching their lows for 2025.  And if mega cap growth stocks like META, AMZN, and TSLA are unable to power above their 200-day moving averages, why should we expect our growth-dominated benchmarks to do the same?

With a flurry of news headlines every trading day, and an earnings season that could paint a disturbing picture of lowered expectations for economic growth and consumer sentiment, I feel that there is more downside to be had before the great bear market of 2025 is completed.  But instead of trying to predict the future, I choose to simply follow the trends.  And based on the shape of the 200-day moving average for these important charts, the primary trend appears to still be down.

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

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Ghana Expels Foreigners from Local Gold Market in Sweeping Sector Overhaul

Investing 4 Mins Read

As part of a sweeping policy shift aimed at tightening control over its most lucrative natural resource, Ghana has banned all foreigners from trading in its domestic gold market, BBC reported.

The directive, announced by the newly created Ghana Gold Board (GoldBod), forms part of the national government’s legislative overhaul to increase state revenues, curb illegal mining and regain regulatory control over the country’s booming artisanal and small-scale gold sector.

GoldBod was created as part of the Ghana Gold Board bill 2025, which was passed by parliament on March 29 and signed into law by President John Mahama on April 2. The act rendered all previously issued licenses invalid, except for licenses granted to large-scale mining companies.

“All foreigners are hereby notified to exit the local gold trading market not later than 30th April, 2025,” said GoldBod spokesperson Prince Kwame Minkah in a statement.

He added that any person or entity operating without a GoldBod-issued license after that date would be committing a punishable offense.

The new framework centralizes authority over gold purchasing, selling and exporting under GoldBod. Foreigners may still apply to off-take gold through GoldBod but are now barred from any direct participation in Ghana’s internal gold value chain.

Ghana, Africa’s largest gold producer and the sixth largest gold producer globally, has long struggled to translate its mineral wealth into broad-based economic prosperity.

The government sees this policy as a critical step to capture more value from gold production, especially from the artisanal mining sector, which contributes nearly US$5 billion annually in exports.

In March, Finance Minister Cassel Ato Forson said the government had allocated US$279 million to GoldBod to purchase and export at least 3 metric tons of gold per week from artisanal mining operations. Transactions will be conducted exclusively in Ghanaian cedis and priced based on rates from the Bank of Ghana.

The government hopes this mechanism will help increase foreign exchange inflows and stabilize the depreciating national currency.

Crackdown on illegal gold trade and foreign involvement

While aimed primarily at increasing fiscal revenues, the new law could also serve as a mechanism to limit avenues for illicit gold sales and environmental degradation caused by illegal mining, known locally as galamsey.

Illegal gold mining has become a flashpoint in Ghana’s political and environmental discourse. Fueled by soaring global gold prices, rising youth unemployment and weak enforcement, galamsey has led to extensive deforestation, mercury pollution and the contamination of over 60 percent of the country’s water bodies.

Chinese nationals have been widely implicated in the galamsey trade, frequently operating alongside local actors and allegedly flouting environmental and labor regulations.

While the new law does not explicitly target a particular nationality, it is expected to curtail foreign involvement in illegal gold sourcing.

Impact on Ghana’s mining giants

The policy shift comes amid broader changes in Ghana’s gold mining landscape, which is home to some of the world’s largest mining firms. However, as large-scale mining companies did not have their licenses revoked, such firms should not be affected by the new legislation.

The government of Ghana currently has a 10 percent free carried interest in regulated mines operating in the country, which it is entitled to after it grants an exploitation permit.

Publicly traded companies mining and exploring for gold in Ghana include:

    Gold Fields’ Damang mine to close after lease denied

    In a separate but related development, South Africa-based Gold Fields is ceasing operations at its Damang mine in Ghana after the government rejected its application for a lease renewal.

    Mining at Damang had already ended in 2023, and the mine was processing only stockpiles, but Gold Fields had sought an extension as part of its end-of-life plan.

    “The government has instructed Gold Fields to cease operations and vacate the lease area by the 18th April on expiry of the lease,” the company said in a statement, adding that it is working to safely wind down operations.

    Damang produced 135,000 ounces in 2024, about 6 percent of Gold Fields’ total output. The company’s larger Tarkwa mine remains operational.

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

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    This post appeared first on investingnews.com

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    Investing

    Crypto Market Recap: Bitcoin in Bear Market, SEC-Ripple Pause Granted

    Investing 7 Mins Read

    Here’s a quick recap of the crypto landscape for Wednesday (April 16) as of 9:00 p.m. UTC.

    Get the latest insights on Bitcoin, Ethereum and altcoin performance along with a round-up of key cryptocurrency market news.

    Bitcoin and Ethereum price update

    At the time of this writing, Bitcoin (BTC) was priced at US$84,336.30 and is up 0.4 percent in 24 hours. The day’s range has seen a low of US$83,592.79 and a high of US$85,311.80.23.

    Bitcoin’s price movements on April 16.

    Chart via TradingView.

    Trade tension escalation between China and the US continues to drag on the crypto market.

    Ethereum (ETH) is priced at US$1,588.68, a 1.1 percent decrease over the past 24 hours. The cryptocurrency reached an intraday low of US$1,551.41 and a high of US$1,605.30.

    Altcoin price update

    • Solana (SOL) is currently valued at US$132.69, up 3.7 percent over the past 24 hours. SOL experienced a low of US$124.95 and peaked as the stock markets closed on Wednesday.
    • XRP is trading at US$2.11, reflecting a 0.6 percent decrease over the past 24 hours. The cryptocurrency recorded an intraday low of US$2.07 and reached its highest point as markets closed for the day.
    • Sui (SUI) is priced at US$2.11, showing a decreaseof 0.7 percent over the past 24 hours. It achieved a daily low of US$2.04 and a high of US$2.13
    • Cardano (ADA) is trading at US$0.6130, down 0.9 percent over the past 24 hours. Its lowest price on Wednesday was US$0.6007, with a high of US$0.6152.

    Today’s crypto news to know

    Analysts confirm crypto bear market

    Recent market analysis suggests the cryptocurrency market has been experiencing a bear market cycle. Bitcoin’s price has been below its 200-day simple moving average (SMA) since March. The 200-day SMA is a key metric used to identify trends in Bitcoin’s price movements and potential market cycles.

    “The 200DMA model on bitcoin does suggest that the token’s recent steep decline qualifies this as a bear market cycle starting in late March. But the same exercise performed on the COIN50 index (which includes the top 50 tokens by market capitalization) shows the asset class as a whole has been unequivocally trading in bear market territory since the end of February,” David Duong, global head of research at Coinbase Institutional, said in a note published Monday.

    “All of these structural pressures stem from the uncertainty of the broader macro environment, where traditional risk assets have faced sustained headwinds from fiscal tightening and tariff policies, contributing to the paralysis in investment decision making.’

    The authors of the report urge cautious trading for the next month or so, after which the sentiment could change “rather quickly.” Duong said the market could rebound in the second half of 2025.

    A market analysis by Bitcoin researcher Axel Adler Jr also points to potential for price recovery later in the year, noting the increasing dominance of US-regulated exchanges and a recurring bullish technical signal. Reduced supply, noted by analyst Borin Vest, could also contribute to upward price movement.

    Janover increases Solana holdings

    According to an April 15 announcement from real estate-focused financial technology firm Janover (NASDAQ:JNVR), the company’s Solana holdings have doubled to 163,651.7 after its latest purchase of 80,567 tokens for roughly US$10.5 million.

    Janover’s total Solana holdings are now worth about US$21.2 million, including staking rewards.

    Janover recently raised approximately US$42 million in a convertible note and warrants sale to bolster its digital asset treasury strategy. This funding round saw participation from investors including Pantera Capital, Kraken, Arrington Capital, Protagonist, The Norstar Group, Third Party Ventures, Trammell Venture Partners and 11 angel investors.

    The company intends to utilize the newly acquired capital to enhance its digital asset treasury strategy, including immediate staking of recently purchased SOL to generate additional revenue.

    Ripple Labs and SEC appeal paused amid settlement talks

    In the ongoing legal dispute between Ripple Labs and the SEC, an appeals court has approved a request to halt proceedings while settlement discussions take place, raising speculation about a potential imminent resolution. The SEC is required to provide an update on the situation by June 15.

    China faces a regulatory dilemma over seized crypto assets

    China’s growing trove of seized cryptocurrencies — confiscated from fraud, money laundering and gambling cases — has become a legal and political hot potato as local governments debate how to convert illicit digital wealth into usable state revenue, Reuters reported.

    With crypto trading banned and virtual assets not recognized as legal tender, authorities currently rely on loosely regulated private firms to offload seized tokens on offshore exchanges, raising concerns over transparency, corruption and inconsistent enforcement.

    Legal experts, judges and financial authorities are now calling for new national guidelines, including proposals to centralize asset management, establish crypto disposal agencies or even hold confiscated Bitcoin as sovereign reserves — a potential pivot that could reshape China’s crypto stance amid broader geopolitical and economic shifts.

    OKX ramps up US presence with exchange launch, wallet rollout

    OKX, one of the world’s top cryptocurrency exchanges, is making a calculated leap into the US market with a phased rollout of its centralized trading platform and a powerful self-custody Web3 wallet for retail and institutional users.

    Spearheading this expansion is newly appointed US CEO Roshan Robert and a fresh San Jose headquarters, signaling the company’s strategic commitment to regulatory compliance and American market penetration.

    The exchange offers deep liquidity, low fees and fast execution, while the new wallet — compatible with over 130 blockchains — lets users manage NFTs, tokens and dApps across multiple ecosystems.

    OKX is also prioritizing transparency, publishing monthly proof-of-reserves reports verified by third-party auditors to reinforce user trust in its custodial holdings.

    Semler Scientific doubles down on Bitcoin despite substantial unrealized loss

    Healthcare technology firm Semler Scientific (NASDAQ:SMLR) revealed a US$41.8 million paper loss on its Bitcoin investment as of Q1 2025 following a sharp decline in Bitcoin’s price — from US$93,500 in January to US$82,350 in March — but has nonetheless pledged to press forward with its crypto acquisition strategy.

    As of March 31, the company held 3,182 Bitcoin valued at over US$263 million. It remains undeterred, announcing plans to issue up to US$500 million in securities to support further purchases and shore up operating capital.

    Semler also disclosed a tentative US$30 million settlement with the Department of Justice related to a civil probe, signaling ongoing legal pressures even as it pushes into risky, non-core asset classes.

    The firm’s stock is down 36 percent this year, remaining a polarizing example of Bitcoin’s expanding foothold in non-crypto industries.

    Oklahoma pulls out of Bitcoin reserve race after narrow senate vote

    Oklahoma’s ambitious plan to become a state-level crypto pioneer came to an abrupt halt after its Strategic Bitcoin Reserve Act (HB1203) failed to pass the Senate Revenue and Taxation Committee by a razor-thin 6–5 vote.

    The proposed legislation would have allowed the State Treasurer to allocate up to 10 percent of public fund assets into Bitcoin and other large-cap digital assets, while also exploring staking mechanisms and crypto integration into retirement accounts.

    Supporters argued the bill could hedge against inflation and government overreach, but critics raised concerns about volatility, fiduciary responsibility and the need for deeper regulatory safeguards.

    With the bill’s collapse, Oklahoma joins a growing list of states backing away from crypto investment, leaving Arizona, Texas and New Hampshire as the frontrunners in the race to make Bitcoin a strategic public asset.

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

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

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    Cygnus intersects new high-grade gold, plus visible gold* identified in subsequent holes

    Investing 34 Mins Read

    Chibougamau Copper-Gold Project, Canada

    HIGHLIGHTS:

    • Drilling at ‘Golden Eye’ has returned shallow high-grade gold up to 9.1g/t Au in first assays with an intersection of:
      • 3.3m @ 6.6g/t Au from just 131.7m including 2.3m @ 9.1g/t Au (LDR-25-05)
    • Golden Eye was last drilled in the early 1990s when gold was less than US$350/oz. The entire drilling target sits outside the current resource
    • Significant intersections from historic drilling 1 include:
      • 5.9m @ 34.1g/t AuEq (32.2g/t Au, 1.2% Cu & 27.3g/t Ag) (RD-11)
      • 4.5m @ 21.6g/t AuEq (14.9g/t Au, 4.7% Cu & 54g/t Ag) (RD-28)
      • 8.4m @ 12.7g/t AuEq (11.0g/t Au, 1.3% Cu & 15.8g/t Ag) (RD-20)
      • 7.5m @ 22.1g/t AuEq (16.0g/t Au & 4.7% Cu) (S1-87-1)
      • 10.4m @ 12.2 g/t AuEq (7.3g/t Au, 3.5% Cu & 31.8g/t Ag) (S3-86-4)
    • Subsequent holes drilled by Cygnus extended the known mineralisation down dip, where it remains open, with coarse visible gold* intersected in LDR-25-08 (awaiting assays – see photo below)

    * Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. The Company expects to receive the laboratory analytical results of the recent core sample (including LDR-25-08) between late April and early May.

    • Gold was a significant part of the historic production within the Chibougamau District, with over 3.5Moz of gold produced alongside 945,000t of copper 3
    • The recent drilling campaign at Golden Eye of six holes for 1,954m aimed to confirm historic drilling results and extend mineralisation at depth. Assay are pending for the remaining five holes
    • The Company intends to utilise the recently compiled historic drill data totalling 77 holes for 21,371m to complete an initial Mineral Resource for Golden Eye
    • Cygnus is continuing the process of digitising >100,000 documents including drill logs, some of which have not been looked at in over 30 years and never before in modern 3D software
    • This highly cost-effective approach is assisting the team to conduct the first consolidated view of the geology and generate new drill targets as Cygnus looks to create shareholder value through resource growth, resource conversion and discovery with two rigs on site
    Cygnus Executive Chairman David Southam said   : ‘Gold is a major part of the production history in the Chibougamau district. It is more than just a by-product, with production of 3.5Moz at an average grade of 2.1g/t Au. We already have 248,000oz of gold in Inferred Resources and 66,000oz in Measured and Indicated Resources, 2 and there is significant opportunity to add to these at Golden Eye with early high-grade results and visible gold down dip.

    ‘Golden Eye is fairly unique at Chibougamau in having a significantly higher proportion of gold than copper and was identified by the team early as an excellent gold-dominant drill target. We have a good head start by having the historic drill logs and will utilise this recently compiled data to assist in an initial Mineral Resource for Golden Eye”.

    Cygnus Metals Limited (ASX: CY5; TSXV: CYG; OTCQB: CYGGF) (‘Cygnus’ or the ‘Company’) is pleased to announce high-grade gold assays and visible gold from its first drilling at the new target Golden Eye within the Chibougamau Copper-Gold Project in Quebec.

    Assays of up to 9.1g/t Au alongside visible gold intersected down dip in recent drilling highlight the potential for additional resources and scope for further growth. Golden Eye was identified as a priority high-grade gold target which has not been drilled since the early 1990s when gold was less than US$350/oz. The entire target area sits outside of current resources with significant historic intersections of up to 5.9m @ 34.1g/t AuEq . 1

    The identification of the Golden Eye target is a result of the ongoing compilation work which is helping to unlock this historic district as the Company continues to build upon the existing high-grade copper-gold resources with low-risk brownfield exploration. The Company currently has two rigs on site focussing on both resource growth and resource conversion drilling.

    About Recent Drilling at Golden Eye

    Golden Eye was identified as a priority drilling target at the Chibougamau Project with shallow high-grade gold mineralisation highlighted during the ongoing review of historic hardcopy drill logs, with the most recent drilling conducted in the early 1990s when gold price was less than US$350/oz. Historic drilling in the area returned some outstanding gold and copper grades 1 of:

    • 5.9m @ 34.1g/t AuEq (32.2g/t Au, 1.2% Cu & 27.3g/t Ag) (RD-11);
    • 4.5m @ 21.6g/t AuEq (14.9g/t Au, 4.7% Cu & 54g/t Ag) (RD-28);
    • 8.4m @ 12.7g/t AuEq (11.0g/t Au, 1.3% Cu & 15.8g/t Ag) (RD-20);
    • 7.5m @ 22.1g/t AuEq (16.0g/t Au & 4.7% Cu) (S1-87-1); and
    • 10.4m @ 12.2 g/t AuEq (7.3g/t Au, 3.5% Cu & 31.8g/t Ag) (S3-86-4).

    In 1992, a double access ramp was developed to access the mineralisation and to provide a better platform for drilling; however, low metal prices and a change of ownership shifted the focus to already established operating mines within the camp.

    Cygnus recently completed a targeted 6-hole program for 1,954m, which aimed to confirm historic drilling results and extend mineralisation at depth. First assays from this drilling have confirmed the high-grade tenor of the shallow mineralisation with an intersection of:

    • 3.3m @ 6.6g/t Au from 131.7m including 2.3m @ 9.1g/t Au (LDR-25-05)

    Recent drilling has also extended mineralisation down dip to a depth of 400m below the surface, which remains open. Visual mineralisation intersected in drill hole LDR-25-08 highlighted coarse visible gold associated with chalcopyrite mineralisation over 0.9m from 463.8m downhole (refer Appendix B). Assays are pending for the five remaining holes of the program and are expected to be received in the current quarter. Once received, these results are expected to be incorporated into an updated geological model along with drilling completed by Doré Copper Mining Corp. in 2022/2023 which tested the conceptual structural model of the wider area.

    The Chibougamau district has a strong history of gold production as well as copper, having produced 3.5Moz Au at an average grade of 2.1g/t Au. 3 Gold grades vary between different deposits although Golden Eye and Cedar Bay are the two areas with a significantly higher gold grade than other deposits within the camp.

    Cygnus intends to utilise the recently completed drilling data (once all received) alongside the newly compiled historic drill data totalling 77 holes for 21,371m (both surface and underground drilling) to complete an initial Mineral Resource Estimate for the Golden Eye target. Golden Eye is an excellent example of the value generated through ongoing compilation work which is helping to unlock this historic district while the Company continues to build upon the existing high-grade copper-gold resources with low-risk brownfield exploration.

    Ongoing   Work

    Cygnus is continuing to compile the data across the camp and deliver additional drill targets as the Company looks to execute its strategy of value creation through resource growth and conversion drilling. This low-cost, low-risk approach includes both surface and downhole electromagnetics (‘EM’) to generate brownfield targets around known high quality mineralisation.

    Figure 1: Long Section of Golden Eye over 600m of strike with significant high grade gold up to 34.1gt AuEq over 5.9m. Mineralisation is still open at depth, with visible gold intersected in LDR-25-08. Refer to Appendix A of this release for newly released drill intercept and ASX releases dated 15 October 2024 and 25 March 2025 for previously announced drilling results.

    Figure 2: Long Section through the Chibougamau North Camp illustrating Golden Eye with standout intersections of up to 5.9m @ 34.1g/t AuEq. Refer to ASX releases dated 15 October 2024 and 25 March 2025 for previously announced drilling results.

    This announcement has been authorised for release by the Board of Directors of Cygnus.

    David Southam
    Executive Chair
    T: +61 8 6118 1627
    E: info@cygnusmetals.com     		Ernest Mast
    President & Managing Director
    T: +1 647 921 0501
    E: info@cygnusmetals.com     		Media:
    Paul Armstrong
    Read Corporate
    T: +61 8 9388 1474


    About Cygnus Metals

    Cygnus Metals Limited (ASX: CY5, TSXV: CYG, OTCQB: CYGGF) is a diversified critical minerals exploration and development company with projects in Quebec, Canada and Western Australia. The Company is dedicated to advancing its Chibougamau Copper-Gold Project in Quebec with an aggressive exploration program to drive resource growth and develop a hub-and-spoke operation model with its centralised processing facility. In addition, Cygnus has quality lithium assets with significant exploration upside in the world-class James Bay district in Quebec, and REE and base metal projects in Western Australia. The Cygnus team has a proven track record of turning exploration success into production enterprises and creating shareholder value.

    Cautionary Note – Visual Estimates

    In relation to the disclosure of visible mineralisation, the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available. The reported intersections are down hole lengths and are not necessarily true width. Descriptions of the mineral amounts seen and logged in the core are qualitative only. Quantitative assays will be completed by Bureau Veritas, with the results for those intersections discussed in this release expected between late April and early May.

    Forward   Looking Statements

    This release may contain certain forward-looking statements and projections regarding estimates, resources and reserves; planned production and operating costs profiles; planned capital requirements; and planned strategies and corporate objectives. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond Cygnus’ control. Cygnus makes no representations and provides no warranties concerning the accuracy of the projections and disclaims any obligation to update or revise any forward-looking statements/projections based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this release has been prepared in good faith, neither Cygnus or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this release. Accordingly, to the maximum extent permitted by law, none of Cygnus, its directors, employees or agents, advisers, nor any other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect of the accuracy or completeness of the information or for any of the opinions contained in this release or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this release.

    End Notes

    1. Refer to Cygnus’ ASX announcements dated 15 October 2024 and 25 March 2025.
    2. The Mineral Resource estimate at the Chibougamau Project is a foreign estimate prepared in accordance with CIM Standards. A competent person has not done sufficient work to classify the foreign estimate as a mineral resource in accordance with the JORC Code, and it is uncertain whether further evaluation and exploration will result in an estimate reportable under the JORC Code. Refer to Appendix C for a breakdown of the Mineral Resource Estimate.
    3. Historic production statistics for the Chibougamau area are recorded in Leclerc. F, Harris. L. B, Bedard. J. H, Van Breeman. O and Goulet. N. 2012, Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada. Society of Economic Geologists, Inc. Economic Geology, v. 107, pp. 963–989.

    Qualified Persons and Compliance Statements

    The scientific and technical information in this announcement has been reviewed and approved by Mr Louis Beaupre, the Quebec Exploration Manager of Cygnus, a ‘qualified person’ as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. The Exploration Results disclosed in this announcement are also based on and fairly represent information and supporting documentation compiled by Mr Beaupre. Mr Beaupre holds options in Cygnus. Mr Beaupre is a member of the Ordre des ingenieurs du Quebec (P. Eng.), a Registered Overseas Professional Organisation as defined in the ASX Listing Rules, and has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Beaupre consents to the inclusion in this release of the matters based on the information in the form and context in which they appear.

    The Company first announced the foreign estimate of mineralisation for the Chibougamau Project on 15 October 2024. The Company confirms that the supporting information included in the original announcement continues to apply and has not materially changed, notwithstanding the clarification announcement released by Cygnus on 28 January 2025 (‘Clarification’). Cygnus confirms that (notwithstanding the Clarification) it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. Cygnus confirms that it is not in possession of any new information or data that materially impacts on the reliability of the estimates or Cygnus’ ability to verify the foreign estimates as mineral resources in accordance with the JORC Code. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcement.

    The information in this announcement that relates to previously reported Exploration Results at the Company’s projects has been previously released by Cygnus in ASX Announcements as noted in the text and End Notes. Cygnus is not aware of any new information or data that materially affects the information in these announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

    Individual grades for the metals included in the metal equivalents calculation for the foreign estimate are in Appendix C of this release. Metal equivalents for the foreign estimate of mineralisation have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz, with copper equivalents calculated based on the formula CuEq (%) = Cu(%) + (Au (g/t) x 0.77258). Individual grades for the metals included in the metal equivalents calculation for the exploration results are in Appendix A of this release. Metal equivalents for exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz and silver price of US$25/oz. Copper equivalents are calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Gold equivalents are calculated based on the formula AuEq(g/t) = Au(g/t) +(Cu(%)  x 1.29436)+(Ag(g/t) x 0.01064). Metallurgical recovery factors have been applied to the metal equivalents calculations, with copper metallurgical recovery assumed at 95% and precious metal (gold and silver) metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in Cygnus’ announcement dated 28 January 2025. It is the Company’s view that all elements in the metal equivalents calculations in respect of the foreign estimate and exploration results have a reasonable potential to be recovered and sold.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    APPENDIX A – Significant Intersections from Recent Drilling at Golden Eye

    Coordinates given in UTM NAD83 (Zone 18). Intercept lengths may not add up due to rounding to the appropriate reporting precision. Significant intersections reported above 2g/t AuEq over widths of greater than 1m. True width estimated to be 80% of downhole thickness.

    Hole ID X Y Z Azi Dip Depth (m) From (m) To (m) Interval (m) Au (g/t) Cu (%) AuEq (g/t)
    LDR-25-05 549448 5525296 375 227 -45 214.2 131.7 135.0 3.3 6.6 0.0 6.6
    Including 131.7 134 2.3 9.1 0.0 9.1
    LDR-25-06 549560 5525483 375 215 -51 474.0 Pending Assays
    LDR-25-07 549453 5525313 375 215 -55 261.0
    LDR-25-08 549524 5525441 375 246 -57 516.0
    LDR-25-09 549445 5525319 375 238 -54 252.0
    LDR-25-10 549489 5525229 375 220 -60 237.0


    APPENDIX B – Summary Logging Details for Mineralised Intersections Observed in LDR-25-08

    Hole ID From To Interval Mineral 1 % Mineral 2 % Mineral 3 % Visible Gold Total Sulphide (%)
    LDR-25-08 89.0 90.0 1.0 Pyrite 2.0 – 2.0
    LDR-25-08 166.4 211.1 44.7 Pyrite 0.5 – 0.5
    LDR-25-08 211.1 216.0 4.9 Pyrite 0.1 – 0.1
    LDR-25-08 216.0 216.6 0.6 Pyrite 1.0 – 1.0
    LDR-25-08 216.6 354.8 138.2 Pyrite 0.1 – 0.1
    LDR-25-08 360.4 361.3 0.9 Chalcopyrite 0.5 Pyrite 1.0 – 1.5
    LDR-25-08 363.9 392.1 28.2 Chalcopyrite 0.3 Pyrite 0.5 – 0.8
    LDR-25-08 392.1 397.3 5.3 Pyrite 0.3 – 0.3
    LDR-25-08 397.3 405.6 8.3 Chalcopyrite 0.1 – 0.1
    LDR-25-08 405.6 406.1 0.5 Chalcopyrite 0.3 Pyrite 30.0 – 30.3
    LDR-25-08 406.1 407.9 1.8 Chalcopyrite 0.5 Pyrite 1.5 – 2.0
    LDR-25-08 407.9 408.3 0.4 Pyrite 7.0 Chalcopyrite 0.1 – 7.1
    LDR-25-08 408.3 409.0 0.7 Pyrite 0.1 – 0.1
    LDR-25-08 409.0 409.4 0.4 Pyrite 25.0 Chalcopyrite 25.0 – 50.0
    LDR-25-08 409.4 411.7 2.3 Chalcopyrite 3.0 Pyrite 7.0 – 10.0
    LDR-25-08 411.7 411.9 0.2 Sphalerite 2.0 Chalcopyrite 0.5 Pyrite 15.0 – 17.5
    LDR-25-08 411.9 415.1 3.2 Chalcopyrite 1.0 Pyrite 3.0 – 4.0
    LDR-25-08 415.1 420.8 5.8 Chalcopyrite 0.3 Pyrite 1.0 – 1.3
    LDR-25-08 420.8 423.3 2.4 Chalcopyrite 1.5 Pyrite 2.5 – 4.0
    LDR-25-08 423.3 428.3 5.1 Chalcopyrite 0.1 Pyrite 0.1 – 0.2
    LDR-25-08 428.3 455.0 26.7 Pyrite 0.5 – 0.5
    LDR-25-08 457.6 458.1 0.4 Sphalerite 0.1 Chalcopyrite 1.0 Pyrite 0.5 – 1.6
    LDR-25-08 461.2 461.8 0.6 Chalcopyrite 2.0 – 2.0
    LDR-25-08 463.8 464.6 0.9 Chalcopyrite 5.0 Pyrite 2.0 0.1 % 7.1
    LDR-25-08 464.6 478.6 14.0 Chalcopyrite 1.0 Pyrite 0.5 – 1.5
    LDR-25-08 478.6 479.7 1.1 Chalcopyrite 3.0 Pyrite 8.0 – 11.0
    LDR-25-08 480.6 516.0 35.4 Chalcopyrite 0.2 Pyrite 0.1 – 0.3


    APPENDIX C – Chibougamau Copper-Gold Project – Foreign Mineral Resource Estimate Disclosures as at 30 March 2022

    Deposit Category Tonnes (k) Cu Grade (%) Au Grade (g/t) Cu Metal (kt) Au Metal (koz) CuEq Grade (%)
    Corner Bay (2022) Indicated 2,700 2.7 0.3 71 22 2.9
    Inferred 5,900 3.4 0.3 201 51 3.6
    Devlin (2022) Measured 120 2.7 0.3 3 1 2.9
    Indicated 660 2.1 0.2 14 4 2.3
    Measured & Indicated 780 2.2 0.2 17 5 2.4
    Inferred 480 1.8 0.2 9 3 2.0
    Joe Mann (2022) Inferred 610 0.2 6.8 1 133 5.5
    Cedar Bay (2018) Indicated 130 1.6 9.4 2 39 8.9
    Inferred 230 2.1 8.3 5 61 8.5
    Total Measured & Indicated 3,600 2.5 0.6 90 66 3.0
    Inferred 7,200 3.0 1.1 216 248 3.8


    APPENDIX D – 2012 JORC Table 1

    Section 1 Sampling Techniques and Data

    Criteria JORC Code explanation Commentary
    Sampling techniques Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.
    • All Cygnus drilling reported is NQ size (47.8 mm diameter).
    Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.
    • NQ core was marked for splitting during logging and is sawn using a diamond core saw with a mounted jig to assure the core is cut lengthwise into equal halves.
    • Half of the cut core is placed in clean individual plastic bags with the appropriate sample tag.
    • The remaining half of the core is retained and incorporated into Cygnus’s secure, core library located on the property.
    Aspects of the determination of mineralisation that are Material to the Public Report.

    In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.

    • Industry standard sampling practices were used with sample lengths ranging from 0.3 m to 1.0 m and respected geological contacts. Sample tags were placed at the beginning of each sample interval and the tag numbers were recorded in an MS Excel database.
    • Sampling practice is considered to be appropriate to the geology and style of mineralisation.
    Drilling techniques Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).
    • Diamond core was drilled using surface diamond rigs with industry recognised contractors Miikan Drilling. Miikan is a joint venture between Chibougamau Diamond Drilling Ltd., the First Nations community of Ouje-Bougoumou and the First Nations community of Mistissini both located in the Eeyou Istchee territory.
    • Drilling was conducted using NQ core size.
    • Directional surveys have been taken at 50m intervals.
    Drill sample recovery Method of recording and assessing core and chip sample recoveries and results assessed.

    Measures taken to maximise sample recovery and ensure representative nature of the samples.

    Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

    • Diamond core recovery was measured for each run and calculated as a percentage of the drilled interval.
    • Overall, the core recoveries are excellent in the Chibougamau area. As a result, no bias exists.
    Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.
    • All core was geologically and geotechnically logged. Lithology, veining, alteration and mineralisation are recorded in multiple tables of the drillhole database.
    Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
    • Geological logging of core is qualitative and descriptive in nature.
    The total length and percentage of the relevant intersections logged.
    • 100% of the core has been logged.
    Sub-sampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken.

    If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.

    For all sample types, the nature, quality and appropriateness of the sample preparation technique.

    Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.

    Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.

    Whether sample sizes are appropriate to the grain size of the material being sampled.

    • The NQ diameter the core was sawn in half following a sample cutting line determined by geologists during logging and submitted for analysis on nominal 1m intervals or defined by geological boundaries determined by the logging geologist.
    • Each core sample is assigned a tag with a unique identifying number. Sample lengths are typically one metre but can be depending on zone mineralogy and boundaries.
    • This sampling technique is industry standard and deemed appropriate.
    • Samples sizes are considered appropriate to grain size of the materials being sampled.
    Quality of assay data and laboratory tests The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.
    • Sample (NQ size half core) preparation and fire assay analysis were done at Bureau Veritas Commodities Canada Ltd (‘BV’) in Timmins, Ontario, and ICP-ES multi-elements analysis was done at BV in Vancouver, B.C.
    • Samples were weighed, dried, crushed to 70% passing 2 mm, split to 250 g, and pulverized to 85% passing 75 µm.
    • Samples are fire assayed for gold (Au) (30 g) and multi-acid digestion ICP-ES finish, for 23 elements (including key elements Ag, Cu, Mo).
    • Samples assaying >10.0 g/t Au are re-analysed with a gravimetric finish using a 30 g charge. Samples assaying >10% Cu are re-analysed with a sodium peroxide fusion with ICP-ES analysis using a 0.25 g charge.
    For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.
    • None used.
    Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.
    • At Bureau Veritas, laboratory QC procedures involve the use of internal certified reference material as assay standards, along with blanks, duplicates and replicates.
    Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel.
      The use of twinned holes.
      • No hole is twinned.
      Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.
      • All logging data was completed, core marked up, logging and sampling data was entered directly into the database.
      • The logged data is stored on the site server directly.
      Discuss any adjustment to assay data.
      • There was no adjustment to the assay data.
      Location of data points Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
      • The location of the drillholes and the aiming points for the orientation of the drillholes were indicated on the ground using identified stakes. The stakes marking the location of the drillholes were set up and located with a Garmin GPS model ‘GPSmap 62s’ (4m accuracy).
      • Surveys are collected using a Reflex EZ-Shot® single-shot electronic instrument with readings collected at intervals of approximately every 30 m downhole plus a reading at the bottom of the hole.
      Specification of the grid system used.
      • The grid system used is UTM NAD83 (Zone 18).
      Quality and adequacy of topographic control.
      • A Digital Terrane Model (DTM) has been used to accurately plot the vertical position of the holes, which is considered to provide an adequate level of topographic control.
      Data spacing and distribution Data spacing for reporting of Exploration Results.
      • The drill spacing for recent drilling is considered appropriate for this type of exploration.
      • Due to the historic nature and mix of underground and surface drilling the drill hole spacing for historic drill results is highly variable.
      Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.
      • No resource estimation is made.
      Whether sample compositing has been applied.
      • No sample compositing has been applied.
      Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
      • Recent drilling is orientated approximately at right angles to the currently interpreted strike of the known interpreted mineralisation.
      • Due to the historic nature of the drilling the drill hole orientation for historic drill results is highly variable.
      If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
      • No bias is considered to have been introduced by the existing sampling orientation.
      Sample security The measures taken to ensure sample security.
      • Core was placed in wooden core boxes close to the drill rig by the drilling contractor. The core was collected daily by the drilling contractor and delivered to the secure core logging facility. Access to the core logging facility is limited to Cygnus employees or designates.
      Audits or reviews The results of any audits or reviews of sampling techniques and data.
      • No audits or reviews of sampling techniques or data have been undertaken, therefore information on audits or reviews is not yet available.


      Section 2 Reporting of Exploration Results

      (Criteria listed in the preceding section also apply to this section.)

      Criteria JORC Code Explanation Commentary
      Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
      • The data reported within this announcement is from the Chibougamau Project. The Chibougamau project consists of 3 properties which include:
        • Copper Rand, 14,383 ha (15 mining concession and 311 exploration claims)
        • Corner Bay – Devlin (1 mining license, 141 exploration claims owned 100% by CBAY and 17 claims owned 56.4% by CBAY/43.6% Pan American Silver)
        • Joe Mann (2 mining concessions, 82 claims owned 100% by CBAY, and 68 claims and 1 mining concession owned 65% by CBAY/35% by SOQUEM)
      • CBAY Minerals Inc. (‘CBAY’), a wholly owned subsidiary of Cygnus, is the owner of all claims and leases, except where otherwise noted above.
      • The properties collectively making up the Project are in good standing based on the Ministry of Energy and Natural Resources (Ministère de l’Énergie et des Ressources Naturelles) GESTIM claim management system of the Government of Québec.
      The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.
      • All tenure is in good standing.
      Exploration done by other parties Acknowledgment and appraisal of exploration by other parties.
      • Corner Bay was first identified as a prospect in 1956
        • 1956 – 1972 eight drilling programs totalling 1,463 m and various geophysical and electromagnetic (EM) surveys
        • 1973 – 1981 Riocanex and Flanagan McAdam: ground geophysical surveys and 43 diamond drill holes
        • 1982 – 1984 Riocanex and Corner Bay Exploration: 38 drill holes and metallurgical test work
        • 1988 – 1991 Corner Bay Exploration: diamond drilling, geophysical surveys and geological characterisation with initial MRE
        • 1992 – 1994 SOQUEM optioned and acquired a 30% interest, and completed diamond drilling
        • 1994 Explorations Cache Inc and Resources MSV Inc: diamond drilling
        • 2004 – 2006 GéoNova and MSV: 98 diamond drill holes and first Technical Report on the Corner Bay project reporting a MRE
        • 2007 – 2009 Campbell: diamond drilling and bulk sample
        • 2012 – 2019 CBAY / AmAuCu: diamond drilling and MRE
      • Devlin identified in 1972 by airborne survey flown by the MERN
        • 1979 – 1981 diamond drilling, geophysical surveys
        • 1981 development commenced
      • Joe Mann identified in 1950 with the commencement of mining activities occurring in 1956
        • The Joe Mann mine operated underground during three different periods from 1956 to 2007
        • In July 2012, Resources Jessie acquired the Joe Mann mine property, but conducted only surface exploration work
      • Cedar Bay was discovered prior to 1927 by Chibougamau McKenzie Mines Ltd
        • From initial discovery to 2013 various surface and underground drilling campaigns and geophysical surveys undertaken by various companies
      • Colline was first discovered with mapping and sampling and then drilled in the 1950s with follow up drilling in 1955.
        • In the 1950s a shaft was sunk but the deposit was never mined.
        • The deposit was later tested with three drill holes and six regional drill holes throughout two drilling campaigns in 1984 and 1986/87.
        • Exploration at Colline has been halted historically with the discovery of and focus on other deposits in the region.
      • Golden Eye (previously known as Dore Ramp) was drilled in a few different phases from 1984 to 1992.
        • A total of 47 drill holes from surface are reported during that period
        • A double ramp of approximately 1 kilometre was excavated in 1991-92 to a vertical depth of 160 meters
        • Underground drilling campaign of 46 holes totaling 10,200 meters tested the deposit mainly to a depth of 240 meters (only five holes tested the deposit between 300 and 600 meters)
      Geology Deposit type, geological setting and style of mineralisation.
      • Corner Bay and Devlin are located at the northeastern extremity of the Abitibi subprovince in the Superior province of the Canadian Shield and are examples of Chibougamau-type copper-gold deposits. The Abitibi subprovince is considered as one of the largest and best-preserved greenstone belts in the world and hosts numerous gold and base metal deposits.
      • The Corner Bay deposit is located on the southern flank of the Doré Lake Complex (DLC). It is hosted by a N 15° trending shear zone more or less continuous with a strong 75° to 85° dip towards the west. The host anorthosite rock is sheared and sericitized over widths of 2 m to 25 m. The deposit is cut by a diabase dyke and is limited to the north by a fault structure and to the south by the LaChib deformation zone.
      • The Corner Bay deposit consists of three main mineralized lodes (subparallel Main Lode 1 and Main Lode 2 above the dyke, and Main Lode below the dyke that make up the bulk of the deposit. The Corner Bay deposit has been traced over a strike length to over 1,100 m to a depth of 1,350 m and remains open at depth.
      • The mineralization is characterized by veins and/or lenses of massive to semi-massive sulphides associated with a brecciated to locally massive quartz-calcite material. The sulphide assemblage is composed of chalcopyrite, pyrite, and pyrrhotite with lesser amounts of molybdenite and sphalerite. Late remobilized quartz-chalcopyrite-pyrite veins occur in a wide halo around the main mineralization zones.
      • Devlin is a flat-lying, copper-rich lodes-hosted deposit in a polygenic igneous breccia that is less than 100 m from the surface. The tabular bodies have been modelled as four nearly horizontal lodes: a more continuous lower zone and three smaller lodes comprising the upper zone. Mineralization is reflected as a fracture zone often composed of two or more sulphide-quartz lodes and stringers. Thickness of the mineralized zones range from 0.5 m to 4.4 m. It has been diluted during modelling to reflect a minimum mining height of 1.8 m.
      • The Joe Mann deposit is characterized by east-west striking shear hosted lodes that extend beyond 1,000 m vertically with mineralization identified over a 3 km strike length. These shear zones form part of the Opawica-Guercheville deformation zone, a major deformation corridor cutting the mafic volcanic rocks of the Obatogamau Formation in the north part of the Caopatina Segment. The gabbro sill hosts the Main Zone and the West Zone at the mine, while the South Zone is found in the rhyolite. These three subvertical E-W (N275°/85°) ductile-brittle shear zones are sub-parallel to stratigraphy and to one another, with up to 140 m to 170 m of separation between them. These shear zones are hosted within a stratigraphic package composed of iron-magnesium (Fe-Mg) carbonate and sericite altered gabbro sills, sheared basalts, and intermediate to felsic tuffs intruded by various felsic intrusions. The Joe Mann gold mineralization is hosted by decimetre scale quartz-carbonate lodes (Dion and Guha 1988). The lodes are mineralized with pyrite, pyrrhotite, and chalcopyrite disposed in lens and lodelets parallel to schistosity, and occasionally visible gold. There are some other minor, mineralized structures, e.g., North and South-South Zones, with limited vertical and horizontal extensions.
      Drill hole Information A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:

      • easting and northing of the drill hole collar
      • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar
      • dip and azimuth of the hole
      • down hole length and interception depth
      • hole length.

      If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.

      • All requisite drillhole information is tabulated elsewhere in this release. Refer Appendices A and B of the body text.
      Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.
      • For recent results, drill hole intersections are reported above a lower cut-off grade of 2g/t AuEq over widths of greater than 1m.
      Where aggregate intercepts incorporate short lengths of high-grade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.
      • A maximum of 1m internal waste was allowed.
      The assumptions used for any reporting of metal equivalent values should be clearly stated.
      • Individual grades for the metals included in the metal equivalents calculation for the exploration results are in Appendices A, B and C of this release. Metal equivalents for exploration results have been calculated at a copper price of US$8,750/t, gold price of US$2,350/oz and silver price of US$25/oz. Copper equivalents are calculated based on the formula CuEq(%) = Cu(%) + (Au(g/t) x 0.77258)+(Ag(g/t) x 0.00822). Gold equivalents are calculated based on the formula AuEq(g/t) = Au(g/t) +(Cu(%)  x 1.29436)+(Ag(g/t) x 0.01064). Metallurgical recovery factors have been applied to the metal equivalents calculations, with copper metallurgical recovery assumed at 95% and precious metal (gold and silver) metallurgical recovery assumed at 85% based upon historical production at the Chibougamau Processing Facility, and the metallurgical results contained in Cygnus’ announcement dated 28 January 2025. It is the Company’s view that all elements in the metal equivalent calculations have a reasonable potential to be recovered and sold.
      Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results.

      If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.

      If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).

      • All intersections reported in the body of this release are down hole.
      • For recent drill holes, holes are drilled as close to orthogonal to the plane of the mineralized lodes as possible.
      • True width is estimated to be about 80% of the downhole drill intersection
      Diagrams Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include,but not be limited to a plan view of drill hole collar locations and appropriate sectional views.
      • Refer Figure 1 (Long Section of Golden Eye) and 2 (Long Section through the Chibougamau North Camp illustrating Golden Eye) in the body of the announcement.
      • Plan view of recent drilling relative to historic drilling and the 1992 ramp access (see Figure 3 below).
      Balanced reporting Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.
      • Recent infill drilling at Golden Eye totals 6 holes for 1,954m, with assay results for 1 drill hole received to date. All results greater than 2g/t AuEq over greater than 1m width have been reported.
      Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.
      • There is no other substantive exploration data.
      Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).

      Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

      • The Company plans to conduct drill testing of additional mineralisation as well as step out drilling of existing lodes to further enhance the resources quoted in this release. More information is presented in the body of this report.
      • Diagrams in the main body of this release show areas of possible resource extension on existing lodes. The Company continues to identify and assess multiple other target areas within the property boundary for additional resources.

      Figure 3: Plan view of recent drilling relative to historic drilling and the 1992 ramp access

      Photos accompanying this announcement are available at:

      https://www.globenewswire.com/NewsRoom/AttachmentNg/87c492be-c3e9-410f-a7ad-5bac9c0c1fcf

      https://www.globenewswire.com/NewsRoom/AttachmentNg/d269165b-73e5-4a95-9afb-bf50df6bfe79

      https://www.globenewswire.com/NewsRoom/AttachmentNg/2293516d-6ebe-453a-8282-5afd08e5ee45

      https://www.globenewswire.com/NewsRoom/AttachmentNg/a202ff85-9abb-417b-aa4e-43dd75ce42f3

      News Provided by GlobeNewswire via QuoteMedia

      This post appeared first on investingnews.com

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      Top 5 Junior Copper Stocks on the TSXV in 2025

      Investing 8 Mins Read

      The copper price moved significantly during the first quarter with momentum that carried it to an all time high on the COMEX of US$5.26 per pound on March 26.

      The rally in prices was driven by uncertainty in global financial markets due to the threat of tariffs from the United States and President Donald Trump.

      This resulted in increased tightness and panic in copper inventories as more shipments were diverted into US warehouses to preempt any potential price hikes. However, prices eased at the beginning of April as concerns about a global recession began to outweigh fears of commodity shortages, causing the price of copper to drop below US$4.50 per pound.

      How has this affected small-cap copper mining companies on the TSX Venture Exchange? Read on to learn about the the five best-performing junior copper stocks since the start of 2025.

      Data for this article was gathered on April 7, 2025, using TradingView’s stock screener, and copper companies with market caps of over C$10 million at that time were considered.

      1. Camino Minerals (TSXV:COR)

      Year-to-date gain: 477.78 percent
      Market cap: C$10.47 million
      Share price: C$0.26

      Camino Minerals is a copper exploration company focused on advancing assets located in Peru.

      Its flagship Los Chapitos project, located near the coastal town of Chala, covers approximately 22,000 hectares and hosts near-surface mineralization. The company has been advancing exploration work on the property since 2016.

      Shares in Camino gained significantly after announcing the start of a discovery exploration program at the project on January 22. The company stated the program would consist of 11 holes and 1,200 meters of drilling along the La Estancia fault, focusing on newly identified copper breccias and mantos to determine their extension at depth.

      Camino has not provided further updates from Los Chapitos. Another significant update since the start of the year was announced on March 17, when it filed a pre-feasibility study for the Puquois copper project. The project was originally acquired as part of an October 2024 definitive agreement to create a 50/50 joint venture between Camino and Nittetsu Mining (TSE:1515) for the construction-ready project.

      The study results demonstrate a post-tax net present value of US$118 million, with an internal rate of return of 23.4 percent and a payback period of 3.1 years at a fixed copper price of US$4.28 per pound. It also suggested all-in sustaining costs for the 14.2-year life of the mine were US$2 per pound.

      In addition to the economic details, the included mineral resource estimate shows measured and indicated amounts of 149,000 metric tons of copper with a grade of 0.46 percent from 32.16 million metric tons of ore.

      Shares in Camino reached a year-to-date high of C$0.31 on January 29.

      2. King Copper Discovery (TSXV:KCP)

      Year-to-date gain: 240 percent
      Market cap: C$36.64 million
      Share price: C$0.17

      King Copper Discovery is a copper, silver and gold explorer that is developing a portfolio of projects in South America. The company changed its name from Turmalina Metals in March.

      Its primary focus is the Colquemayo project in Moquegua, Peru. In July 2024, King Copper entered into an option agreement with Compania de Minas Buenaventura to acquire a 100 percent ownership stake in the property.

      The 6,600 hectare site has seen more than 20,000 meters of historic core drilling and hosts multiple porphyry targets that have been identified but have gone untested. Highlighted drill samples from the property have demonstrated results of 2.4 percent copper and 10 grams per metric ton (g/t) silver over 237.3 meters, including 14.8 percent copper and 47 g/t silver over 31.3 meters.

      In news released on February 12, the company said it was intensifying its focus on the project and would be relogging historic cores. Additionally, King Copper hired Insideo, a Lima-based environmental consulting firm, to help advance baseline studies and the drill permit process.

      The release also indicated that the company was in the process of rebranding from Turmalina Metals to King Copper. As part of the restructuring, company CEO Roger James stepped down, maintaining a seat on the board, and was replaced by Jonathan Richards as interim CEO.

      On March 11, the company began trading under its new name and ticker. Shares in King Copper Discovery reached a year-to-date high of C$0.225 on March 25.

      3. BCM Resources (TSXV:B)

      Year-to-date gain: 211.11 percent
      Market cap: C$25.05 million
      Share price: C$0.14

      BCM Resources is an exploration company working to advance its flagship Thompson Knolls project in Utah, United States.

      The greenfield copper, molybdenum, gold and silver project in Utah’s Great Basin consists of 225 federal unpatented lode mining claims and two state section leases covering an area of 2,242 hectares.

      Exploration of the project area began in the 1970s, when a US Geological Survey aerial survey identified a prominent magnetic anomaly. In the 1990s, follow-up work was conducted at the target.

      BCM carried out its last drill program at the property in 2023. At the time, the company announced that one drill hole encountered a significant mineral intercept of 0.66 percent copper, 0.12 grams per metric ton (g/t) gold and 7.4 g/t silver over 155.4 meters starting at a depth of 621.8 meters. The sample also contained eight intervals with greater than 1 percent copper over 24.3 meters.

      The company received approval from the Bureau of Land Management for a plan of operation to continue drilling at the project. In a July 2024 update, the company released data from an analysis of the project’s porphyry-skarn system by the Colorado School of Mines, which it plans to use to prepare for the drilling at the site.

      Shares in BCM Resources reached a year-to-date high of C$0.15 on April 9.

      4. DLP Resources (TSXV:DLP)

      Year-to-date gain: 152.94 percent
      Market cap: C$55.99 million
      Share price: C$0.43

      DLP Resources is an explorer focused on advancing its flagship Aurora copper-molybdenum project in Peru.

      The 8,500 hectare site is located in the Central Andes. Exploration work has been performed at the site since the early 2000s, with DLP conducting drill programs in 2023 and 2024.

      Shares in DLP have been rising since the release of a technical report for Aurora on February 27, which included a maiden resource estimate with significant copper and molybdenum spread over two zones.

      The inferred resource totals 1.05 billion metric tons of ore containing 4.65 billion pounds of copper, 1.1 billion pounds of molybdenum and 80 million ounces of silver. The resource has average grades of 0.2 percent copper, 0.05 percent molybdenum and 2.4 grams per metric ton silver.

      The company said it is pleased with the size and results of the report and will continue drilling the site to upgrade the resource ahead of a preliminary economic assessment.

      DLP shares also got a boost on April 1 after it released its management’s discussion and analysis for the nine months ending on January 31. The release covers the firm’s activities for the period, highlighting its recent resource estimate, as well as the completion of a non-brokered private placement in January for proceeds of C$1.36 million.

      Shares in DLP reached a year-to-date high of C$0.48 on April 3.

      5. C3 Metals (TSXV:CCCM)

      Year-to-date gain: 150 percent
      Market cap: C$52.28 million
      Share price: C$0.60

      C3 Metals is an exploration company working to advance its assets in Jamaica and Peru.

      C3’s primary Jamaican asset is the Bellas Gate project, a 13,020 hectare site featuring 14 porphyry and over 30 epithermal prospects along an 18 kilometer strike. To date, drilling at the site has concentrated on a 4 kilometer zone encompassing the Provost, Geo Hill, Camel Hill and Connors prospects.

      Shares in C3 experienced significant gains after it announced on February 11 that it had signed an earn-in agreement with a Freeport-McMoRan (NYSE:FCX) subsidiary, which can gain up to a 75 percent interest in the project. Under the agreement, Freeport must contribute US$25 million in exploration and project expenditures over five years to earn the initial 51 percent interest, and an additional US$50 million over the following four years for the remaining 24 percent.

      In Peru, C3 has focused on advancing its Jasperoide copper-gold project. The site in Southern Peru spans 30,000 hectares and hosts two porphyry and more than 15 skarn prospects across two 28 kilometer belts.

      According to a July 2023 technical report, a mineral resource estimate reported a measured and indicated resource of 51.94 million metric tons of ore with an average grade of 0.5 percent copper and 0.2 g/t gold for contained metal totaling 569.1 million pounds of copper and 326,800 ounces of gold.

      C3 released an exploration update from its Khaleesi copper-gold project area in Jasperoide on February 19, reporting that a soil sampling campaign defined a copper-molybdenum anomaly extending 1,900 meters by up 650 meters. Two zones contained average concentrations of 950 parts per million copper and 650 ppm of copper.

      The company stated that it is working to complete geophysical surveys by the end of March and will use the data to implement a maiden diamond drill program at the target. It closed a US$11.5 million bought deal private placement on March 19 that will be used in part for exploration and development at the Khaleesi target.

      Shares in C3 Metals reached a year-to-date high of C$0.69 on April 1.

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

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      This post appeared first on investingnews.com

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      Collaboration with DuPont Water Solutions to Test Lithium Processing Technology

      Investing 1 Min Read

      CleanTech Lithium (AIM:CTL), an innovative sustainable lithium developer in Chile, is collaborating with DuPont Water Solutions, a business unit of DuPont, to test lithium processing technology.

      DuPont has developed a new nanofiltration (NF) membrane technology for high lithium recovery. This will be tested in CleanTech Lithium’s direct lithium extraction (DLE) downstream process.

      The role of the NF is to remove impurities and maximise lithium recovery. DuPont’s new NF membrane element (named FilmTec LiNE-XD nanofiltration elements) is specifically designed for the lithium sector and will be tested in CTL´s next scheduled phase of post-DLE pilot plant testing. CTL is implementing NF following the eluate concentration stage which utilises industrial forward osmosis (iFO) in the concentrating of lithium and reduction of boron. CleanTech Lithium is investigating the potential of these technologies to eliminate the need for thermal evaporation (TE) and crystallisation in production of battery grade lithium carbonate, which would result in potentially significant CAPEX savings.

      Click here for the full press Release

      This post appeared first on investingnews.com

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