(TheNewswire)
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VANCOUVER, BC — May 30, 2024 — TheNewswire – Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) (“Giant Mining” or the “Company”) is pleased to announce the approval of its Reclamation Cost Estimate by the State of Nevada, Department of Conservation & Natural Resources, for the Majuba Hill Porphyry Copper Deposit (“Majuba Hill”) a copper, silver, and gold project located in Pershing County, Nevada.
The completion of the Reclamation Permitting process with the Bureau of Mining Regulation and Reclamation ("BMRR") provides Giant Mining approval of up to 25 acres disturbance. Payment of the $240,762.00 Reclamation Bond ensures that sufficient funds are available to complete reclamation activities on all disturbance on private land at the Majuba Hill Exploration Project.
With the reclamation bond in place, the Company anticipates a comprehensive drilling program that will incorporate the drill targeting results from the past three years of drilling. This includes approximately 3,900 meters (12,800 feet) of reverse circulation (RC) drilling in 16 drill holes and 488 meters (1,600 feet) of core drilling internal to the current exploration target. Two deep core holes are also being contemplated, each reaching a depth of up to 3,500 ft. (1,066m).
David Greenway, President, and CEO of Giant Mining Corp., stated, “The approval of our reclamation bond is a significant milestone for the Majuba Hill Exploration Project. It underscores our commitment to responsible mining practices and our dedication to environmental stewardship. We are excited to advance our exploration activities in one of Nevada’s most promising mining districts.”
The Company has drilled 19 RC holes totaling 4,601 meters (15,092 feet) and 10 core holes totaling 5,304 meters (17,405 feet) from 2020 to 2022. A total of 49 RC holes (8017.5 meters/ 26,604.1 feet) and 55 core holes (16,988.1 meters/ 55,735.2 feet) has been drilled at Majuba. 33 RC and 45 core holes for a total of 22,542.8 meters (73,967 feet) of drilling were NI43-101 compliant and could be used for the calculation of the Exploration Target in the 2023 NI43-101 report.
Exploration
As previously announced in a May 21, 2024 news release, an exploration corridor has been identified as a key focus area, integrating insights from both recent and historical drilling, geological mapping, geochemical analysis, and geophysical surveys. Drilling has revealed a substantial oxide zone that outcrops at the surface and reaches depths of up to 1,804 ft. (550 m).
Looking forward to this year and beyond, the Company is preparing for a pivotal exploration year in 2024. The company plans extensive drilling operations to thoroughly investigate the vertical and lateral extents of copper mineralization. These enhanced exploration efforts are poised to play a crucial role in delineating the full potential and guiding the future development of the Nevada Project.
Exploration Program 2024
Giant Mining Corp. is allocating funds from the recently concluded Private Placement towards advancing the Company's exploration and development initiatives, in alignment with the recommendations provided in the June 2023 NI43-101 report. The Company has committed to drilling 16 reverse circulation (RC) holes and two shallow core holes, which are designed to infill and expand the mineral potential. The Company's exploration efforts will be further enhanced by the drilling of two deep core holes, each reaching a depth of 3,500 ft. (1,066m). This significant investment in deep-core drilling is crucial for accurately determining the vertical extent of the mineralization, significantly enhancing the company's resource evaluation efforts.
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Figure 1: Giant Mining grade domain with recent, historic and planned drilling.
Additionally, Giant Mining Corp. is set to commence a sequential copper analysis program to improve the understanding of the ore's characteristics and processing efficiencies at Majuba Hill. The sequential copper analysis program will provide the foundational metallurgical understanding of the copper deposit utilizing an extensive library of existing pulps and core from earlier drilling. This program will cover the breadth and depth of the deposit and optimize recovery methods and enhance the overall efficiency and environmental compliance of the mining process.
By advancing this metallurgical study, the Company seeks to deepen its understanding of the Majuba Hill orebody, leading to more informed decisions about the project’s development and ensuring that any future extraction process is both efficient and environmentally responsible. This initiative aligns with the Company’s commitment to leveraging all available data to support sustainable mining practices.
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").
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.
On Behalf of the Board of Giant Mining Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
E: info@giantminingcorp.com
P: 1 (855) 475-0745
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Forward-Looking Statements
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. 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.
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