Manitoba Mineral Development Fund (MMDF) Approves New $300,000 Grant Targeted for Updated NI 43-101 Resource Est. & Prelim Economic Assessment (PEA) for the Tartan Mine
Canadian Gold Corp (TSXV: CGC) has secured a $300,000 grant from the Manitoba Mineral Development Fund (MMDF) to advance the Tartan Mine project. The funding will support updating the mine's NI 43-101 resource estimate and completing a Preliminary Economic Assessment (PEA) for potential mine restart.
These initiatives will commence following the completion of the current Phase 4 exploration program, expected in early summer. Combined with the company's treasury and pending financing, Canadian Gold's total capital will reach approximately $3.5 million.
The MMDF program, along with the Manitoba Mineral Exploration Tax Credit (MMETC), continues to support mineral exploration and development in Manitoba, offering tax incentives for eligible Manitoba mineral exploration projects.
Canadian Gold Corp (TSXV: CGC) ha ottenuto un contributo di $300.000 dal Manitoba Mineral Development Fund (MMDF) per far progredire il progetto Tartan Mine. Il finanziamento supporterà l'aggiornamento della stima delle risorse NI 43-101 della miniera e la realizzazione di una Valutazione Economica Preliminare (PEA) per un possibile riavvio della miniera.
Queste iniziative inizieranno dopo il completamento dell'attuale programma di esplorazione Fase 4, previsto per l'inizio dell'estate. Combinato con il tesoro dell'azienda e il finanziamento in attesa, il capitale totale di Canadian Gold raggiungerà circa $3,5 milioni.
Il programma MMDF, insieme al Manitoba Mineral Exploration Tax Credit (MMETC), continua a supportare l'esplorazione e lo sviluppo minerario in Manitoba, offrendo incentivi fiscali per i progetti di esplorazione mineraria eleggibili in Manitoba.
Canadian Gold Corp (TSXV: CGC) ha asegurado una del Manitoba Mineral Development Fund (MMDF) para avanzar en el proyecto Tartan Mine. La financiación apoyará la actualización de la estimación de recursos NI 43-101 de la mina y la finalización de una Evaluación Económica Preliminar (PEA) para un posible reinicio de la mina.
Estas iniciativas comenzarán tras la finalización del actual programa de exploración de Fase 4, que se espera para principios del verano. Combinado con la tesorería de la empresa y la financiación pendiente, el capital total de Canadian Gold alcanzará aproximadamente $3.5 millones.
El programa MMDF, junto con el Manitoba Mineral Exploration Tax Credit (MMETC), continúa apoyando la exploración y el desarrollo mineral en Manitoba, ofreciendo incentivos fiscales para proyectos de exploración mineral elegibles en Manitoba.
캐나다 골드 코프 (TSXV: CGC)는 타르탄 광산 프로젝트를 진행하기 위해 매니토바 광물 개발 기금(MMDF)으로부터 30만 달러의 보조금을 확보했습니다. 이 자금은 광산의 NI 43-101 자원 추정치를 업데이트하고 광산 재가동 가능성을 위한 예비 경제성 평가(PEA)를 완료하는 데 지원할 것입니다.
이러한 이니셔티브는 현재 진행 중인 4단계 탐사 프로그램이 완료된 후 시작될 예정이며, 이는 여름 초에 예상됩니다. 회사의 자산과 대기 중인 자금을 합치면 캐나다 골드의 총 자본은 약 350만 달러에 이를 것입니다.
MMDF 프로그램은 매니토바 광물 탐사 세액 공제(MMETC)와 함께 매니토바에서의 광물 탐사 및 개발을 계속 지원하며, 자격이 있는 매니토바 광물 탐사 프로젝트에 대한 세금 인센티브를 제공합니다.
Canadian Gold Corp (TSXV: CGC) a obtenu une subvention de 300 000 $ du Manitoba Mineral Development Fund (MMDF) pour faire avancer le projet de mine Tartan. Le financement soutiendra la mise à jour de l'estimation des ressources NI 43-101 de la mine et l'achèvement d'une Évaluation Économique Préliminaire (PEA) pour un éventuel redémarrage de la mine.
Ces initiatives commenceront après l'achèvement du programme d'exploration actuel de Phase 4, prévu pour le début de l'été. Combiné avec la trésorerie de l'entreprise et le financement en attente, le capital total de Canadian Gold atteindra environ 3,5 millions $.
Le programme MMDF, ainsi que le Manitoba Mineral Exploration Tax Credit (MMETC), continue de soutenir l'exploration et le développement minier au Manitoba, offrant des incitations fiscales pour les projets d'exploration minérale éligibles au Manitoba.
Canadian Gold Corp (TSXV: CGC) hat einen Förderbetrag von 300.000 $ vom Manitoba Mineral Development Fund (MMDF) gesichert, um das Tartan-Minenprojekt voranzutreiben. Die Finanzierung wird die Aktualisierung der NI 43-101-Ressourcenschätzung der Mine unterstützen und eine vorläufige Wirtschaftlichkeitsanalyse (PEA) für eine potenzielle Wiederinbetriebnahme der Mine abschließen.
Diese Initiativen werden nach Abschluss des aktuellen Phase-4-Erkundungsprogramms beginnen, das für Anfang des Sommers erwartet wird. Zusammen mit der Unternehmensschatzkammer und der ausstehenden Finanzierung wird das Gesamtkapital von Canadian Gold voraussichtlich etwa 3,5 Millionen $ erreichen.
Das MMDF-Programm, zusammen mit dem Manitoba Mineral Exploration Tax Credit (MMETC), unterstützt weiterhin die Mineralexploration und -entwicklung in Manitoba und bietet steuerliche Anreize für förderfähige Mineralexplorationsprojekte in Manitoba.
- Secured additional $300,000 grant funding
- Total capital position strengthening to $3.5 million
- Progress toward potential mine restart with upcoming NI 43-101 update and PEA
- Access to favorable tax incentives for Manitoba investors
- PEA and resource estimate results pending and uncertain
- Additional financing still pending completion
Toronto, Ontario--(Newsfile Corp. - April 9, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that it has been approved for an additional
"We want to express our gratitude to the Province of Manitoba and the Manitoba Mineral Development Fund for targeting these funds to further our efforts in advancing the potential restart of the Tartan Mine. An updated NI 43-101 and PEA are critical to quantifying and validating the economic potential of Tartan.
"I also want to thank the MMDF Board and the Government of Manitoba for the continued support and funding of the MMDF program. The MMDF program provides critical funding to many junior resource companies that often struggle to access the capital that is vital to the growth of the mining sector in Manitoba." - Michael Swistun, CFA, President & CEO.
Canadian Gold wishes to acknowledge the significant impact that the MMDF continues to have on mineral exploration and development in Manitoba. The continued support of MMDF and the Manitoba Mineral Exploration Tax Credit ("MMETC") make Manitoba a strong destination for mineral exploration. Manitobans may also avail themselves of the unique tax incentives when investing in eligible Manitoba mineral exploration projects, such as the Tartan Mine.
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
About Canadian Gold Corp.
Canadian Gold Corp. is a Toronto-based mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247871
FAQ
What is the value of the new MMDF grant received by Canadian Gold Corp (TSXV: CGC)?
How will Canadian Gold Corp use the MMDF grant for the Tartan Mine project?
When will Canadian Gold Corp begin the NI 43-101 update and PEA for Tartan Mine?
What is Canadian Gold Corp's total capital position after receiving the MMDF grant?
