VANCOUVER, British Columbia - (NewMediaWire) - December 04, 2024 - Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) ("Giant Mining" or the "Company") announces the company is planning a four hole Core Drilling Program ("Core Program") at its Majuba Hill Copper-Silver Deposit ("Majuba Hill" or "the Project") in Pershing County, Nevada.
The Core Program is designed to follow up hole MHB-30 ("MHB-30") which encountered high-grade copper-silver mineralization from 0 to 218.0 feet (66.4 meters) of 1.35% Cu and 73.4 g/t Ag including 74.0 feet (22.6 meters) of 2.6% Cu and 30.1 g/t Ag.
Figure 1:
Magmatic-Hydrothermal Breccia Corridors and Prominent Breccia Bodies
Combining the copper and the silver results returns a copper equivalent of:
0 to 218.0 feet (66.4 meters) of 2.1% Copper Equivalent ("CuEq") including 140.0 to 214.0/ 74.0 feet (22.6 meters) at 2.9% CuEq.
"We are excited to announce this newest core drill program as a follow up to hole MHB-30, which significantly exceeded our expectations for high-grade copper-silver mineralization," said David Greenway, CEO of Giant Mining. "The company is steadfast in its belief of the potential at Majuba Hill and that 2025 will be a breakout year for Copper, with industry insiders seeing the potential for $5.00+ copper on the horizon, an undeniable shortfall of copper supply and a new US Presidential administration that will focus on speeding up permitting timelines for critical, domestic mineral production."
Drilling is planned to target the Southern Breccia Corridor with holes oriented to intersect the high-grade mineralized breccia. Drilling will focus on the deeper portions of the breccia and the extensions of the high-grade copper zones below the historic underground workings.
Copper equivalent (CuEq) values were calculated on September 24th, 2024, by combining the assay values for copper and silver assay results for each intercept using an interval-weighted calculation based on $4.475/lb Cu and $31.29/oz Ag. Copper on September 24th, 2024, was trading at $4.475/lb Cu and $31.29/oz Ag (prices from https://www.cnbc.com/quotes; Copper (Dec24) @HG.1: CEC: Commodities Exchange Centre and Silver COMEX (Dec24) @SI.1: CEC: Commodities Exchange Centre).
Hole ID
From (m)
To (m)
Interval
(m)
Cu (%)
Ag (g/t)
Au (g/t)
Mo (ppm)
Sn (ppm)
Zn (ppm)
MHB-30
0.0
66.4
66.4
1.35
73.4
0.074
107
229
387
including
42.7
65.2
22.6
2.60
30.1
0.092
206
95
414
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 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").
Corporate Communications
The Company announces that it has engaged the services of Free Market Media Ltd. ("Free Market") to assist the company with corporate communications. Free Market is based out of Langley, BC and its principal is Brent Rusin whose email is info@giantminingcorp.com and phone number is 604-790-7291.
The Company has entered into a Consulting Agreement (the "Agreement) with Free Market dated December 1st, 2024 whereby the services to be provided immediately by Free Market is on an ongoing basis for the next 6 months. Free Market will be paid a fee of $2,500 per month and issued 200,000 stock options exercisable at a price of $0.20 for a period of 12 months. The Agreement may be renewed or extended by the Company and Free Market at the end of the initial term. Free Market is not related parties and operate at arm's length.
Non-Brokered Private Placement
The Company is pleased to announce a non-brokered private placement of up to 22,092,200 units (each a "Unit") at a price of $0.10 per Unit for gross proceeds of up to $2,209,200 million (the "Private Placement").
Each Unit will consist of one common share (each, a "Share") and one transferrable common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder to purchase one additional Share of the Company at a price of $0.25 per Share for a period of 12 months from the date of issuance.
The Warrants will contain an acceleration provision which will provide that should the Company's Shares trade at or above $0.40 for a period of five (5) or more consecutive trading days (the "Acceleration Condition"), the expiry date of the Warrants will be accelerated to 30 days from the date that the Company provides notice (whether by written notice to the holder or the issuance of a news release) that the Acceleration Condition has been satisfied.
the Company is pleased to further announce a non-brokered private placement offering of up to 1,371,040 shares of the Company ("Units") at a price of C$0.12 per Unit (the "Offering Price"), for aggregate proceeds of up to C$164,524.80 (the "LIFE Offering").
The Units to be issued under the LIFE Offering will be offered to purchasers pursuant to the Listed Issuer Financing Exemption (the "LIFE Exemption") under Part 5A of National Instrument 45-106- Prospectus Exemptions, in Alberta, British Columbia, and Ontario. The Units offered will not be subject to a hold period in accordance with applicable Canadian securities laws.
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.
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.
