FINWIRES · TerminalLIVE
FINWIRES

Nuvau Minerals' Winter Drilling at Thundermine Sees High-Grade Gold Mineralization

By

Nuvau Minerals' (NMC.V) winter drilling campaign at the Thundermine target area in the company's Matagami Mining Camp in Quebec, intersected both volcanic massive sulphide-related alteration and gold-bearing zones associated with "favourable host rocks and structures", it said Friday.

The first hole drilled at Thundermine to test gold target confirmed gold and base metal mineralization, said the company. Drilling returned 5.28 grams per tonne of gold over 6.10 meter, including 7.22 g/t gold over 3.1 m, within a broader gold-bearing interval, it added.

"This single hole confirms both the camp's signature VMS-style mineralization and the potential to define a significant gold-bearing hydrothermal system,This single hole confirms both the camp's signature VMS-style mineralization and the potential to define a significant gold-bearing hydrothermal system," chief executive Christina McCarthy said in a release.

Diamond drilling at Thundermine will resume in early July, the company said.

The company's shares were last seen unchanged at C$0.70 on the TSX Venture Exchange.

Related Articles

Mining & Metals

Calian to Acquire Galaxy Broadband for Up to $51.5 Million

Calian Group (CGY.TO) after the close Thursday said it entered into a purchase agreement with Crown Capital Partners to acquire Galaxy Broadband Communications for $24 million in upfront consideration, with additional earnout consideration of $27.5 million conditional on performance over the next three years.The transaction is expected to close in Calian's fourth quarter.Company's shares closed down $0.02 to $80.45 on Toronto stock Exchange.

$CGY.TO
Mining & Metals

Equinox Gold Signs 20-Year Land Access Deals for Los Filos Mine in Mexico

Equinox Gold (EQX.TO) after trade Thursday said it signed 20-year land access agreements with all three communities hosting its Los Filos Mine in Guerrero, Mexico.With the agreements in place, the company has begun early activities to support a gradual restart of heap leach operations and is also advancing technical studies to assess potential expansion opportunities at the site, it said."We appreciate the constructive engagement with the communities of Carrizalillo, Mezcala and Xochipala that host our multi-million-ounce Los Filos Mine," Chief Executive Officer Darren Hall said.The mine is estimated to contain "5.4 million ounces of mineral reserves, 7.9 million ounces of measured and indicated mineral resources (exclusive of reserves), 3.2 million ounces of inferred mineral resources, and significant exploration upside," he added.Alongside the land agreements, Equinox Gold and the communities also reached an understanding on labor and supply services policies. Restart work will include environmental remediation, permitting, workforce rehiring and retraining, and supplier contract negotiations, the company said.The company said it will provide further updates as restart activities and technical work progress. It also noted that Los Filos is not included in its 2026 production guidance of 700,000 to 800,000 ounces of gold.

$EQX.TO
Mining & Metals

Metro Rejects Latest Union Counteroffer in Quebec Strike; Lowers Third-quarter Outlook

Metro (MRU.TO) after trade Thursday said it has rejected a counteroffer from the union representing employees at its Laval produce-distribution center, transportation operations and head office.The company said the counteroffer does not provide a basis for a responsible and sustainable agreement because of a significant gap between the two sides on monetary issues."We invite the union to work constructively toward a reasonable settlement that will bring an end to this strike and allow operations to resume in a stable and predictable environment for all," Chief Operating Officer Marc Giroux said.The company said the strike disrupted fresh produce supplies to Metro's 300 stores in Quebec, particularly during the early weeks of the labor dispute. For the first 14 weeks of its third quarter, same-store food sales fell 1.5% from a year earlier. Metro expects lower sales, reduced margins and higher contingency costs to result in adjusted net earnings per share of about C$1.22 to C$1.27 for Q3, down from C$1.52 in the same period last year."The impact is temporary in nature and reflects the disruption and additional costs associated with the strike and contingency measures," the company said, adding that it would provide another update when it releases third-quarter results on Aug. 12.Metro shares closed down C$0.41, or 0.4%, to C$94.21 on the Toronto Stock Exchange.

$MRU.TO