Giant Mining Announces Intention to List Warrants On the CSE and Assays Pending from Majuba Hill Copper Drill Program
VANCOUVER, September 17, 2024 - Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) ("Giant Mining" or the "Company") is pleased to announce that the Company will be applying to the Canadian Securities Exchange (the "CSE") to list a total of 15,455,000 common share purchase Warrants (the "Warrants"). The Warrants were issued in connection with the Company's private placement of units which closed on May 1, 2024 (See Press Release at GiantMiningCorp.Com and www.sedarplus.ca). Each Warrant entitles the holder thereof to acquire one (1) common share of the Company (each a "Warrant Share") upon payment of the exercise price of $0.25 per Warrant Share prior to May 1, 2025. It is intended that upon listing, the Warrants will trade under the symbol BFG.WT. It is also anticipated that the Warrants will be governed pursuant to a warrant indenture to be entered into between the Company and Endeavor Trust Corporation.
Further details about the warrant listing will be provided upon confirmation of a trading date, CUSIP for the Warrants, and the CSE's conditional approval of the proposed Warrant listing. The listing of the Warrants is subject to the approval of the CSE and may not occur as anticipated or at all.
The Company recently announced successful completion of Hole MHB-30 ("MHB-30") to a depth of 800 feet (244 meters) and Hole MHB-31 ("MHB-31") to a depth of 1,086 feet (331 meters) with assays from MHB-30 shipped to ALS labs and awaiting assay results as part of the company's diamond core drilling program (the "Core Program") at its Majuba Hill Porphyry Copper Deposit ("Majuba Hill") in Pershing County, Nevada. The Company has a further 16 Hole Multi Phased RC Drill Hole Program ("RC Program") planned.
Recent comprehensive reviews by the Giant Team noted important mineralization controls during the surface traverses of the Majuba Hill drill sites and while examining the underground workings. Distinct magmatic-hydrothermal breccias were observed controlling high-grade copper in the >0.5% Cu domain from the 2023 Block Model (See NI43-101 Report available at giantminingcorp.com).
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The recent core drilling intersected the magmatic-hydrothermal breccia bodies in core hole MHB-30 and MHB-31, as can be seen in Figures 1 and 2. Drill hole MHB-31 drilled in the gap zone between whittle pits 13 and 43 as shown on Figure 3 and Figure 4.
The Team also reviewed the nearly 25,000 meters of drilling at the company's core shed and offices in Elko, Nevada that makes up the basis for the Exploration Target 50,000,000 to 100,000,000 tonnes. (See NI43-101 Report available at giantminingcorp.com).
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Figure 2 - MHB-31/9.5 meters (31 feet) Copper Mineralized Fragments in Magmatic-Hydrothermal Breccia
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Figure 3 - Cross Section from Block Model - Company Presentation available at giantminingcorp.com
"We are pleased with the progress of our drilling program at Majuba Hill, particularly with assays still pending and a team that is fully engaged to take the Majuba Hill Deposit to the next level," said David Greenway, CEO of Giant Mining. "We look forward to receiving the lab results from ALS Global Services, which will further our understanding of the deposit and its potential to become a future domestic supply of copper for North America."
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Figure 4 - Giant Mining historic holes in red and planned drilling in green (RC) and blue (Core)
Quality Assurance/Quality Control ("QA/QC") Measures, Chain of Custody
The Company utilizes a QA/QC program using best industry practices at the Majuba Hill Project. The samples are placed in cloth or plastic sample bags and are transported from the Giant Mining secure warehouse or directly from Woods Process to the ALS Labs Sample Prep Facility in Elko, Nevada. ALS then transports the prepared pulps to their analytical lab in North Vancouver, B.C.
Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth sample bags. All samples are analyzed for copper, gold, silver, and 33 other elements. Gold is determined by ALS Labs method Au-AA23 which is a fire assay with an AAS finish on a 30-gram split. Copper, silver, and the remaining 31 elements are determined by ALS Labs method ME-ICP61 which is a four-acid digestion and ICP-AES assay. Approximately 10% of the submitted samples are drill duplicates and copper-gold-porphyry commercial standard reference material pulps. The sample rejects and remaining pulps will be retrieved from ALS Labs.
Qualified Person
The scientific and technical information contained in this news release has been reviewed and approved by E.L. "Buster" Hunsaker III, CPG 8137, a non-independent consulting geologist who is a "Qualified Person" as such term is defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
About Giant Mining Corp.
Giant Mining Corp. is engaged in the identification, review and acquisition of latter stage copper and copper/silver/gold assets. This is in direct response to the growing worldwide demand and lack of supply for precious metals fueled by the Green New Deal in the US and most other developed nations with similar programs aimed at addressing climate change. Such programs are heavily reliant on silver, gold and especially copper to produce Electric Vehicles and other renewable power sources, as well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper, silver and gold District located 156 miles (251 km) outside Reno, Nevada, USA. Management has been mandated to focus on safe, mining friendly jurisdictions where government regulations are supportive of mining operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
On Behalf of the Board of Giant Mining Corp.
"David Greenway"
David C. Greenway
President & CEO
For further information, please contact:
E: info@giantminingcorp.com
P: 1 (604) 499-6791
VISIT OUR WEBSITE FOR MORE DETAILS
www.giantminingcorp.com
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Forward-Looking Statements
This news release contains certain statements that may be deemed "forward-looking" statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Specific forward-looking statements in this news release include, without limitation, statements related to the anticipated listing of the Warrants on the CSE and the entering into of a warrant indenture pursuant to which the Warrants shall be governed. Although Giant Mining Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Giant Mining Corp. management on the date the statements are made. Except as required by law, Giant Mining Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.