Walker Lane Resources Ltd Stock Price, News & Analysis

CMC Metals (TSX-V:CMB, OTCQB:CMCXF) has reported on impressive metallurgical tests conducted by North Bay Resources Inc. (OTC:NBRI) on potential ore for the Gold Processing Mill in Bishop, California. The tests showed high gold, platinum, and silver concentrations in run-of-mine ore from the Mt. Vernon Gold Mine. Two concentrate streams yielded up to 11.95 oz/t gold, 17.54 oz/t platinum, and 7.79 oz/t silver. This marks the first known discovery of platinum at Mt. Vernon, potentially increasing ore value by up to 50%. CMC owns a 16.05% interest in NBRI, which acquired 55.5% of CMC's Bishop mill. The successful extraction and concentration of metals have led to testing of on-site furnace equipment for producing Dore bars and platinum buttons.

CMC Metals (TSX-V:CMB, OTCQB:CMCXF) has acquired a 16.05% interest in North Bay Resources Inc. (NBRI) through 1.12 billion common shares. This acquisition is part of an agreement where NBRI acquired 55.5% of CMC's gold processing mill in Bishop, California. NBRI has made progress in reopening the mill facility and acquired the Mount Vernon Mine in Sierra County as a potential ore source. The mine is permitted and equipped, with NBRI planning to commence a mining test extraction and potentially start production at 100 tons per day.

CMC also announced changes to its Board of Directors, with John Bossio resigning after 14 years of service and being replaced by John Land, who brings 40 years of experience in the Canadian oil and gas industry. The company continues to focus on advancing its portfolio of high-grade silver and gold properties in Yukon and British Columbia.

CMC Metals has closed the first tranche of its non-brokered private placement, raising $137,375 in gross proceeds. The placement comprised 2,782,143 non-flow through Units (NFT Units) priced at $0.035 each and 1,000,000 flow-through Units (FT Units) priced at $0.04 each. Each NFT Unit includes one common share and one share purchase warrant, exercisable at $0.07 for two years, while each FT Unit includes one common share and a half warrant. Notably, CEO Kevin Brewer participated by purchasing 1,600,000 units. The funds will support exploration at CMC's properties and general working capital. Finders were paid $157.50 in commissions and issued 4,500 warrants.

CMC Metals (OTCQB: CMCXF) has finalized the acquisition of an 80% interest in the Blue Heaven Property in the Yukon, Canada, from Strategic Metals The property covers 118 claims (1,975 hectares) contiguous to CMC’s Silver Hart Project and features 13 mineralized areas and 36 showings. Highlights from a 2022 trenching program at the Golden Cross Zone include high-grade samples containing up to 64.56% lead, over 1,500 g/t silver, and 8.5% zinc. Past sampling from 1999 also showed significant mineralization. An exploration permit application is under review to further evaluate the property's potential.

CMC Metals has successfully oversubscribed its private placement, raising gross proceeds of $162,400, pending TSX Venture Exchange approval. The offering comprised 1,000,000 flow-through units (FT) at $0.04 and 3,497,143 non-flow-through units (NFT) at $0.035 each. Each FT unit includes one common share and a half-warrant, while each NFT unit includes one common share and a full warrant. Both warrants are exercisable at $0.07 for 24 months. The financing involved an insider subscribing for 1,000,000 FT units, categorized as a related party transaction under MI 61-101. The funds from FT units will support exploration at Silverknife, Amy, and Silver Hart Properties, with NFT unit proceeds allocated to general working capital.

CMC Metals (OTCQB:CMCXF) announced plans to initiate geophysical studies at their Silverknife and Amy properties in British Columbia. These studies aim to define potential drill targets for high-grade silver-lead-zinc deposits. The studies will utilize CSAMT and Induced Polarization techniques, building on previous airborne geophysics results. Additionally, CMC is in discussions for an earn-in agreement for the Silverknife Project, with an offer expected by mid-June. The company aims to advance permitting for the Amy project and establish near-term drill targets at Silverknife.

CMC Metals (TSXV:CMB, FRA:ZM5P, OTCQB:CMCXF) announced plans to initiate studies to assess the viability of using Dense Media Separation (DMS) or ore sorting technologies at its Silver Hart Project in Yukon. DMS separates minerals by specific gravity, enhancing pre-concentration of valuable minerals and discarding unwanted material. Ore sorting boosts economic and environmental efficiency in mineral processing. CMC aims to engage with experts and start discussions with First Nations for potential partnerships. These efforts align with CMC's commitment to integrity and sustainable mining practices.

CMC Metals clarifies technical disclosure for Canadian NI 43-101 compliance, addressing issues with the 2020 Technical Report on the Silver Hart Property in Yukon. The report is not compliant with NI 43-101 standards and should not be relied upon until verified. The company also provides information on proposed exploration activities for the 2024 season. Contact details for investor inquiries are included.

CMC Metals announced a private placement to raise C$500,000, with potential to reach C$750,000 through the sale of flow-through units and non-flow-through units. The company will use the proceeds for exploration programs in various properties. The Offering involves finder's fees, and all securities issued will be subject to hold periods and regulatory approvals.