Chibougamau Independent Mines Reports Major Drilling Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 12h ago
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Source: Globenewswire
- New Discovery: Drill hole TOM-25-015 reveals 5.75% ZnEq (1.34 g/t AuEq) over 98.5 meters at a depth of 451.20 meters, confirming a new semi-massive sulfide zone named Berrigan Deep, indicating significant potential for future mining operations.
- High-Grade Ore: Hole TOM-25-014 shows 28.69% ZnEq (6.73 g/t AuEq) over 2.10 meters, highlighting the area's rich mineral resources, which could attract further investment to support ongoing development efforts.
- Exploration Phase Progress: The company is currently in the initial exploration phase, and while metallurgical data is lacking, historical drilling results indicate geological complexity that may require further technical studies to optimize extraction strategies.
- Positive Market Reaction: The release of these drilling results is expected to boost investor confidence, potentially driving up Chibougamau Independent Mines' stock price, reflecting market optimism regarding its future mineral development potential.
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About LOT
Lotus Technology Inc is a company mainly engaged in the design, development, manufacturing and sales of luxury electric vehicles. The Company is mainly engaged in providing luxury lifestyle battery electric vehicles, focusing on electrification, digitalization, intelligence and other automotive technologies. The Company designs, develops and sells luxury lifestyle cars (non-sports cars for everyday use) under the iconic British brand Lotus. The Company operates in China, the UK and the EU market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Chibougamau Independent Mines Reports Major Drilling Results
- New Discovery: Drill hole TOM-25-015 reveals 5.75% ZnEq (1.34 g/t AuEq) over 98.5 meters at a depth of 451.20 meters, confirming a new semi-massive sulfide zone named Berrigan Deep, indicating significant potential for future mining operations.
- High-Grade Ore: Hole TOM-25-014 shows 28.69% ZnEq (6.73 g/t AuEq) over 2.10 meters, highlighting the area's rich mineral resources, which could attract further investment to support ongoing development efforts.
- Exploration Phase Progress: The company is currently in the initial exploration phase, and while metallurgical data is lacking, historical drilling results indicate geological complexity that may require further technical studies to optimize extraction strategies.
- Positive Market Reaction: The release of these drilling results is expected to boost investor confidence, potentially driving up Chibougamau Independent Mines' stock price, reflecting market optimism regarding its future mineral development potential.
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FireFly Reports 51% Increase in Mineral Resources at Green Bay Project
- Significant Resource Growth: The mineral resource estimate for the Green Bay project has increased to 50.4Mt at 2.0% CuEq, representing a 51% increase from the October 2024 estimate, laying a solid foundation for future economic assessments.
- High-Grade Core Zone Established: FireFly has delineated a high-grade core zone of 8.8Mt at 3.9% CuEq in the Measured and Indicated categories, significantly enhancing development options and likely attracting more investor interest.
- Well-Funded for Expansion: The company completed approximately A$139 million in equity raising, which will be used to accelerate exploration and mineral resource conversion, ensuring rapid development in a favorable copper market.
- Economic Assessment Plans: A Preliminary Economic Assessment is expected to be completed by June 2026, based on the upgraded mineral resources, further advancing the project towards feasibility studies and boosting investor confidence.
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