Business
Valorem Resources Completes Acquisition of Regency Mining and Inferred 3.1 Million Ounce Gold Project
Vancouver, British Columbia--(Newsfile Corp. - December 22, 2022) - VALOREM RESOURCES INC. (CSE: VALU) (FSE: X37) (the "Company") is pleased to announce that it
About this update from Avanti Gold Corp
[{"type":"text","content":" Vancouver, British Columbia--(Newsfile Corp. - December 22, 2022) - VALOREM RESOURCES INC. (CSE: VALU) (FSE: X37) (the \"Company\") is pleased to announce that it has entered into and closed a share exchange agreement (the \"Agreement\") dated December 20, 2022 with Regency Mining Limited (\"Regency\"), a private arm's length company incorporated under the laws of Seychelles, and each of the shareholders of Regency (collectively, the \"Regency Shareholders\"), pursuant to which it has acquired all of the issued and outstanding common shares (collectively, the \"Regency Shares\") in the capital of Regency (the \"Transaction\"). About Regency Mining Limited Regency owns a 99.43% interest in Casa Mining Ltd. (\"Casa\"), a private arm's length company incorporated in April 2009 under the laws of Mauritius, and, indirectly through its ownership of Casa, owns a 73.84% interest in Leda Mining Congo S.A (\"Leda\"), a private arm's length company incorporated in July 1998 under the laws of the Democratic Republic of the Congo (the \"DRC\"). Leda owns an interest in and to the Misisi Gold project (the \"Misisi Gold Project\" or the \"Project\"), located in the Fizi territory of South Kivu province, in the DRC, approximately 250 km south of Bukavu and 140 km north of Kalemie. The Misisi Gold Project covers 133 square kilometre on three contiguous mining licences, valid until 2045 (with extension options) and includes the Akyanga gold deposit which hosts an Inferred Resource of 3.1 million ounces of gold averaging 2.16 grams per tonne gold. About the Misisi Gold Project Large contiguous licensed land position extending 133 km2 valid through to 2045. Host to an Inferred Resource of 44.3 million tonnes at an average grade of 2.16 g/t Au (representing 3.1 million ounces of gold) at Akyanga. Significant upside exploration potential on a 55 km prospective gold belt, of which numerous targets have been identified from prior exploration activity (geophysics, sampling and prospecting) including the directly adjacent Akyanga East prospect. Extensive past exploration work with technical reports generated including three historical resource estimates using the JORC Code and a Scoping Study (SRK, 2014). Table 1: Misisi Resource Estimate(effective date September 30, 2022) Category Tonnes (millions) Gold(g/t) Gold(Moz) Inferred 44.3 2.16 3.1 Notes: (1) ...