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FINWIRES

NV Gold Identifies New Gold Zone at Slumber Gold Project in Nevada

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NV Gold (NVX.V), up 15% on last look, on Wednesday said it identified a new gold zone 1.4 kilometers northeast of previously reported gold zones, at the Awakening area of its Slumber Gold Project in Nevada

Gold intercepts include 41.14 meters at 0.844 grams per tonne (g/t) gold, including 21.34 m at 1.00 g/t gold.

The September reverse circulation drilling campaign has received assays from three of the six initial drill holes completed so far and drilling continued. The current drill holes were designed to explore the newly-identified Awakening Zone, a statement said.

"With the addition of leased private land connecting the company's existing claim blocks, drilling has now commenced to test whether the gold mineralization continues between the two areas of known gold. The known gold system is large, covering an area over two kilometers long and 0.5-1.0 km wide," said Chief Executive Officer John Watson.

NV Gold shares were last seen up CA$0.12 at CA$0.92, the highest in more than four years, on the TSX Venture Exchange.

Price: $0.92, Change: $+0.12, Percent Change: +15.00%

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Mining & Metals

PMET Completes Phase 2 Caesium Testwork Program at Shaakichiuwaanaan Project

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$PMET.TO
Mining & Metals

Xanadu Appoints Tara Deakin as Chief People Officer

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Mining & Metals

Tourmaline to Sell CA$287.5 Million of Topaz Shares, Raises Quarterly Dividend 5%

Tourmaline Oil (TOU.TO) and Topaz Energy (TPZ.TO) said Tuesday that Tourmaline agreed to sell 10 million common shares of Topaz on a bought-deal basis at CA$28.75 per share for gross proceeds of about CA$287.5 million.The offering includes an option for the purchase of up to an additional 15% of the shares sold to cover over-allotments and for market stabilization.Topaz will not receive any proceeds from the offering.Tourmaline currently owns about 19.9 million Topaz shares, representing approximately 12.9% of the company's outstanding shares. Following the offering, Tourmaline will hold about 9.9 million Topaz shares, representing approximately 6.4% of Topaz, or 5.4% if the over-allotment option is exercised in full.Tourmaline intends to use the net proceeds to repurchase its common shares under the normal course issuer bid. Its board has also approved an increase in the quarterly base dividend effective in the fourth quarter of 2026 from CA$0.50/share to CA$0.525/share, representing a 5% increase from the current base dividend of CA$0.50/share.

$TOU.TO$TPZ.TO