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KORE Mining (TSXV: KORE) announces a non-brokered private placement of up to 25,000,000 units at $0.04 per unit, aiming to raise up to $1,000,000. Each unit includes one common share and one warrant, exercisable at $0.06 for 36 months. The proceeds will fund permitting and exploration of California development properties and working capital. The offering is available to existing shareholders as of October 30, 2024, and other qualified investors. The placement may include insider participation and requires TSX Venture Exchange approval.
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KORE Mining Ltd. (KOREF) announced a capital conservation plan that prioritizes high-impact drilling at its Imperial and Long Valley gold projects. Effective July 1, 2022, Executive Chairman James Hynes will become President and CEO. Management restructuring and cost reductions are aimed at preserving cash for essential drilling and permitting activities. Recently, KORE submitted a drilling plan to the Bureau of Land Management for Imperial, supporting future feasibility studies. Stakeholder engagement continues in Imperial County for the ACES initiative, aimed at building local support.
KORE Mining Ltd. reports successful completion of its 2021-2022 winter exploration field season at the Imperial Gold Project. The company identified five western drill targets covering over 2,400 acres and an impressive 8.3 kilometers of strike length. Significant findings include a high-grade assay of 9.98 g/t gold at the Powerline target. Upcoming assays will further outline the potential of these areas. The company aims to prioritize drill permit applications to expand exploration in this highly prospective region.
KORE Mining Ltd (TSXV: KORE, OTCQX: KOREF) announced promising findings from the Imperial Gold Project. A stream sediment sample revealed 9.98 grams per tonne (g/t) of gold at the Powerline target area, leading to a 600-meter trend of anomalous samples. This area sits between two mineralized gneiss outcrops, suggesting strong mineralization potential. KORE is also pursuing drill permits for the Ogilby target, which yielded a 0.77 g/t gold sample. The company aims to advance exploration efforts across the 28-kilometer Mesquite-Imperial-Picacho District, highlighting significant exploration opportunities.
KORE Mining Ltd. (OTCQX: KOREF) is advancing the drill permitting process for its Mesquite East and Ogilby prospects at the Imperial Oxide Gold Deposit in California. These sites are identified among ten prospective drill targets within the Mesquite-Imperial-Picacho District, covering 28 kilometers. The company is conducting cultural surveys while planning to commence drilling following permit approvals. KORE's Imperial project features a positive preliminary economic assessment indicating a post-tax NPV of US$ 343 million and an average production of 146,000 ounces of gold annually over eight years.
KORE Mining Ltd. (KOREF) announced the results of a second phase of engineering for excess materials from its Imperial Oxide Gold Deposit in California. This initiative, known as ACES, aims to supply materials for the remediation of the Salton Sea. The study indicates that these materials have a significant competitive edge socially, economically, and environmentally. The Imperial project could support various local remediation projects while generating jobs and taxes. The engineering studies commenced in March 2021, highlighting the limited local resource availability for such initiatives.
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