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New Break Resources Discusses Critical Minerals Potential at Moray Property and Closes Final Tranche of Non-Brokered Private Placement
Toronto, Ontario--(Newsfile Corp. - March 6, 2024) - New Break Resources Ltd. (CSE: NBRK) ("New Break" or the "Company") is pleased to discuss the critical mine
About this update from New Break Resources Ltd.
[{"type":"text","content":" Toronto, Ontario--(Newsfile Corp. - March 6, 2024) - New Break Resources Ltd. (CSE: NBRK) (\"New Break\" or the \"Company\") is pleased to discuss the critical minerals potential of the Moray property, in light of significant developments with respect to contiguous properties. The 8,483-hectare Moray property is located approximately 49 km south of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. (\"Alamos Gold\"). While the principal focus to date at the Moray property has been to evaluate the gold potential and more specifically, the analogous nature of gold mineralization at Moray to that at the nearby Young-Davidson gold mine, the northwestern border of the Moray property is also contiguous with the Texmont Project, owned by TSX Venture Exchange listed Canada Nickel Company Inc. (\"Canada Nickel\") and the southern boundary is contiguous with the Edleston Project, owned by Australian listed Aston Minerals Limited (\"Aston Minerals\"). Figure 1 - Map of New Break Resources Ltd.'s Ontario Properties About Aston Minerals' Edleston Project The Edleston Project boasts JORC Code (2012) mineral resource estimates of 155 million tonnes grading 0.28% Ni and 0.011% Co indicated and 889 million tonnes grading 0.27% Ni and 0.011% Co inferred as well as a gold zone having 14.0 million tonnes grading 0.90 g/t Au for 400,200 ounces indicated and 34.1 million tonnes grading 1.0 g/t Au for 1,099,800 ounces inferred. (Source: Aston Minerals corporate presentation at http://astonminerals.com.) Disclaimer: The mineralization style and setting associated with the Edleston Project is not necessarily indicative of the mineralization observed on the Moray property. About Canada Nickel and the Texmont Project Canada Nickel purchased the past producing Texmont mine in March 2023, which adds to their portfolio of properties within their \"Timmins Nickel District\" and hosts a non-compliant National Instrument 43-101 historical mineral resource estimate of 3.2 million tonnes grading 0.9% Ni. In January 2024, Agnico Eagle Mines Limited (\"Agnico Eagle\") invested $34.7 million in Canada Nickel, which will be used to continue to unlock the potential of the Timmins Nickel District, which they \"believe has the potential to be one of the world's largest nickel sulfide districts\". (Source: Canada Nickel ne...