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October 1, 2024

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Good morning and welcome to this week’s Flight Path. Equities saw the “Go” trend remain strong with another uninterrupted week of strong blue “Go” bars. Treasury bond prices remained in the “Go” trend as well but we saw a whole week of weaker aqua bars. U.S. commodities saw the “Go” trend strengthen this week after several weaker aqua bars last week. The dollar held on to its “NoGo” trend but painted weaker pink bars to end the week.

$SPY Continues in Strong “Go” Trend

The GoNoGo chart below shows that the “Go” trend continued this week and maintained its strength. A complete week of strong blue “Go” bars saw price hit another higher high. GoNoGo Oscillator remains in positive territory at a value of 3 but is no longer overbought.

The longer time frame chart shows us that the “Go” trend remains strong this week with another bright blue “Go” bar. However, it was a very small weekly trading range as price crept to a new higher high. GoNoGo Oscillator is in positive territory at a value of 3 but has not reached the same highs as it did on the last price high.

“NoGo” Trend Continues with a Full Week of Pink Bars

Treasury bond yields seem to have set a new lower low as price fell from the mid week high and GoNoGo Trend painted weak pink bars. GoNoGo Oscillator is riding the zero line and we see a GoNoGo Squeeze building close to its Max. It will be important to watch to see in which direction the Squeeze is broken. If the oscillator breaks out of the GoNoGo Squeeze into negative territory then we will see signs of NoGo Trend Continuation and look for price to challenge for new lows.

The Dollar Paints Weaker Pink “NoGo” Bars

Price continues to consolidate sideways this week and GoNoGo trend has started to paint pink bars as the “NoGo” trend weakens. During this time, GoNoGo Oscillator has struggled to move away from the zero line and has now dipped back into negative territory. If the oscillator remains negative, we will say that momentum remains on the side of the “NoGo” trend. If the oscillator recaptures positive territory it would signal that momentum is out of step with the trend.

In today’s free DecisionPoint Trading Room, Erin pulls out her exclusive DecisionPoint Diamond Scans and finds us some new and interesting stock symbols to explore further. These scans are very powerful and bring the best charts to your attention. DecisionPoint has a new Scan Alert System for purchase that will deliver these quality symbols to your email inbox right after the market closes to prepare you for trading the next day.

The program starts as always with Carl’s overview of the market in general with special attention to Bitcoin, Bonds/Yields, the Dollar, Gold and Crude Oil. He follows that up with a look at the Magnificent Seven.

Today Carl also brought up a book that talks about various bubbles and manias that have occurred throughout history. It isn’t a bad idea to understand the characteristics of mania. Carl has likened Bitcoin to Tulipmania without the tulip bulbs. Here is the book: Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay.

Erin first goes through sector rotation to see where money is headed. Is it defensive or aggressive? She then covers the symbols that she came up with through her scans.

The pair finish with a look at viewer symbol requests.

00:48 DP Signal Tables

02:27 Market Overview

13:10 Magnificent Seven

18:29 Book Discussion: Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay

27:30 Sector Rotation

32:35 Scan Results (TOL, CPRI, HOG, PSMT and PPC)

41:09 Symbol Requests


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Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!


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Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

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Bear Market Rules


September, typically considered to be the weakest month for stocks, didn’t turn out that way in 2024. We had a winning month—the S&P 500 eked out a higher close, and the S&P 500 ($SPX), Dow Jones Industrial Average ($INDU), and Nasdaq Composite ($COMPQ) had a positive quarter. Out of the three, the Nasdaq had the smallest gain, mainly due to investors rotating out of Big Tech stocks and moving into other sectors.

This rotation can be seen in the StockCharts MarketCarpet (see below).

FIGURE 1. UTILITIES LEAD IN Q3. The StockCharts MarketCarpet shows that Utilities was the best performer in Q3. On the opposite end of the spectrum, we have Energy.Image source: StockCharts.com. For educational purposes.

Utilities was the leading sector for Q3, followed by Real Estate and Industrials.

The Utilities Select Sector SPDR ETF (XLU) chart (see below) shows that the sector has been trending higher since XLU crossed above its 21-day exponential moving average (EMA) at the end of July. It closed at a record high on September 30. The relative strength index (RSI) is just above 70, so there is potential for XLU to rise higher.

FIGURE 2. DAILY CHART OF XLU. Since July, XLU has been on an upward trend closing at an all-time high in September.Chart source: StockCharts.com. For educational purposes.

Utility stocks are gaining investor attention because they can provide energy to Artificial Intelligence companies. Although utility stocks may not be growth-oriented, most provide dividends, which can generate extra cash in your portfolio.

On the Other End of the Spectrum…

The worst-performing sectors for Q3 were Communication Services, Technology, and Energy. The mega-cap stocks with the biggest losses are Microsoft (MSFT), Alphabet, Inc. (GOOGL), and Amazon.com (AMZN). However, there were still some winners, as Apple, Inc. (AAPL) and Meta Platforms (META) had impressive gains in Q3.

What To Expect in Q4

Given that it is an election year, volatility will likely rise in the last quarter of the year. But that could settle down after the elections, since a big uncertainty factor will be eliminated. Thus, we could see more of the bullish sentiment extend into Q4. Unless enthusiasm for Tech stocks picks up, the sector may not move much in performance in the next quarter. Add the Sector Summary panel on your dashboard and closely monitor sector performance during the final quarter of the year.


Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Altech Batteries Limited (ASX: ATC, FRA: A3Y) is pleased to announce that its first CERENERGY® ABS60 battery prototype is online and operating successfully. The completed battery unit has passed all physical tests with flying colours. The prototype was installed at Altech’s joint venture partner Fraunhofer IKTS’ test laboratory in Dresden, Germany, and integrated into a specially designed battery test station. This setup enables continuous daily charging and discharging cycles to assess the battery’s efficiency, stability, and overall performance under real-world conditions.

Highlights

CERENERGY® 60 KWh prototype completed and operatingUndergoing daily testing with battery test station at DresdenOutperformed early expectationsExhibiting exceptional efficiency and robust performanceMaintains safe, optimal operating temperaturesOngoing testing providing critical data for off-take partiesStrong commercial potential for large-scale productionSeparate individual cell testing conductedDemonstrates performance to published specifications

Altech’s CEO and MD Iggy Tan stated“We are extremely pleased that the first CERENERGY® 60kWh battery prototype is now up and running and operating better than expected, reconfirming our confidence in the sodium-chloride solid-state battery technology developed by the world-leading Fraunhofer Institute in Germany. Using common table salt technology and without the requirement for lithium, copper, cobalt, graphite and manganese, the CERENERGY® battery can operate in a wide range of temperatures and has a life of 15 years, around double that of lithium-ion batteries.

The prototype can now be demonstrated under real-world conditions, providing critical data for off-take parties. This will be invaluable as Altech pushes forward with sales and finance to construct the first 120MWh plant. With the first Letter of Intent for 30MWh of offtake with Schwarze Pumpe Industrial Park recently announced, we envisage that having the CERENERGY® 60kWh battery prototype up and running and exceeding expectations, will further assist in the offtake process”.

Initial results from the testing are extremely promising. The ABS60 battery has outperformed early expectations, exhibiting exceptional efficiency and robust performance across all key metrics. Notably, the battery has maintained excellent thermal stability, a crucial factor in high-capacity energy storage systems. Throughout rigorous testing, it has operated within safe temperature limits, with no signs of overheating. This highlights the effectiveness of the battery’s thermal management system, which plays a vital role in enhancing both the safety and longevity of the battery. These early findings confirm the battery’s design integrity and bolster confidence in its commercial viability. The ABS60 prototype is expected to continue undergoing further testing and refinement, providing critical data for potential off-take parties.

The success of this prototype positions Altech Batteries at the forefront of advanced battery technology, offering a reliable and efficient energy storage solution.

Comment from Mr Uwe Ahrens,
Managing Director of Altech Batteries GmbH

You Tube https://youtu.be/BLrh0bHutlclink

Individual Cell Testing

An individual cell testing program has also been conducted by the Fraunhofer team at Hermsdorf, Germany. Separate battery cells underwent extensive testing, highlighting their performance and stability. A total of 497 individual battery cells were produced. The cells were tested at an operational temperature of 300°C. Key results from over 500 cycles demonstrated stable performance, including a consistent discharge capacity of 80 Ah and an efficiency of up to 91%. The discharge energy and capacity remained stable without any indication of degradation occurring across the 500 cycles, and the average discharge voltage held steady throughout the tests.

Discharge and overcharge stress and abuse tests were conducted without any cell failures, confirming the cells’ durability. These findings demonstrate the cells’ potential for long-term stability, high energy capacity, and reliability in high-temperature applications.

Click here for the full ASX Release

This post appeared first on investingnews.com

Brightstar Resources Limited (ASX: BTR) (Brightstar) is pleased to announce results from the surface and underground drilling programs conducted at the Second Fortune Gold Mine, located south of Laverton, WA.

HIGHLIGHTS

First diamond drilling assays returned from the Second Fortune underground mine by Brightstar delivers high grades within and beneath the current forward mine planThe deepest hole drilled to date at Second Fortune, SFRCD2408, returned +31g/t Au from a 0.3m downhole intercept at 465.75m depth, proving that the high grade Second Fortune mineralisation continues at depths +400m below surfaceDrilling assays highlight the high-grade and narrow-vein nature of the Second Fortune orebody, which has shown strong geological consistency over recent years of operational history, including:

Surface holes:

SFRCD2404A:0.57m @ 21.3g/t from 426.55m (12 gram-metres, gm)SFRCD24051.53m @ 7.7g/t from 408.07m, including (12gm)0.41m @ 17.0g/t Au from 408.89mSFRCD2408:0.3m @ 31.7g/t from 465.75m (10gm)SFRCD2407:0.68m @ 11.68g/t from 394.69m (8gm)

Underground holes:

SFUDD0087:0.6m @ 14.7g/t from 87.2m (9gm)SFUDD00882.76m @ 7.37g/t from 96.15m, including (20gm)0.33m @ 52.37g/t Au from 96.15mSFUDD00890.42m @ 24.84g/t from 63.27m (10gm)0.34m @ 27.84g/t from 106.08m (10gm)0.51m @ 11.7g/t from 109.91m (6gm)SFUDD00913.06m @ 4.18g/t from 73.18m, including (12gm)0.46m @ 11.22g/t Au from 73.18mSFUDD00930.49m @ 19.22g/t Au from 103.6m (10gm)Drilling intercepts are ~100m below currently developed levels on the 1065 level and provide significant confidence in mine life extension at Second Fortune. Drilling targeted mining areas within and below the current 12 month mine plan in order to improve the classification of the Mineral Resource Estimate, provide confidence on future mine life extension and enhance mine planning and scheduling activitiesFollowing the success of this program, Brightstar has commenced further underground drilling to further improve geological knowledge and confidence of CY25 production

Brightstar’s Managing Director, Alex Rovira, commented“The desired outcome of our combined surface and underground drilling program was to infill certain areas to increase confidence in the resource model, whilst also taking the opportunity to drill deeper holes outside and below the current mine plan.

We are delighted with the results which successfully proved that the high-grade Second Fortune vein system continues at depths well below the current mine plan. This result provides a compelling target for Brightstar to explore further in order to extend the mine life at Second Fortune. Accordingly, we have expedited plans to complete further underground drilling to commence imminently, which will inform an upgraded Mineral Resource Estimate this CY24 with the intent of potentially supporting the declaration of Ore Reserves and formal production outlook.

We look forward to sharing ongoing results as they are received, with assays still pending from various programs across the Brightstar portfolio including previously announced RC and Diamond drill programs”.

TECHNICAL DISCUSSION

The Second Fortune deposit lies at the southern end of the Laverton Tectonic Zone which lies on the eastern margin of the Norseman-Wiluna Belt. Gold mineralisation occurs within a north-to-northwest striking sequence of intermediate to felsic volcaniclastic rocks and subordinate sediments, intruded by irregular, narrow, tabular bodies of albite porphyry.

Gold mineralisation is associated with an arcuate narrow quartz vein system (0.2m to 2m width) that has a strike of over 600 metres and dips steeply to the west. Within the vein there is locally abundant pyrite with wall rock alteration characterised by a thin selvedge of sericitic and chlorite alteration providing a strong mineralisation vector.

The Second Fortune vein system consists of the Main Lode and a number of subsidiary lodes, the Hanging wall and Footwall lodes which are located within ~10m of the Main lode, and the Caturra lode to the West.

Linden Gold Alliance Limited (Linden) acquired the Second Fortune Gold Project in 2020 and moved quickly to bring the project back into production, achieving its first gold pour within seven months in April 2021. In 2023, Linden produced in excess of 13,000oz gold, with ore processing through Genesis Minerals Limited’s Gwalia processing facility, and subsequently merged with Brightstar in 2024.

The purpose of the combined surface and underground drill programs were to infill and confirm the resource within the planned underground mine design, and to target extensions at depth to assess potential for lode continuity.

Click here for the full ASX Release

This post appeared first on investingnews.com

As the end of 2024 nears, investors may want to consider how they can use tax-loss selling to their benefit.

Buying stocks low and selling them high is ideal, but sometimes investments go sour. In such cases, all hope is not lost — at the end of the year, investors can sell investments that provided losses instead of capital gains.

The money made from selling off losses can then be used to offset capital gains liabilities incurred for the year. This is the principle behind tax-loss selling, also known as tax-loss harvesting.

This valuable strategy offers investors another opportunity to lower their tax bill for 2025, according to the Wall Street Journal. In effect, it seems you really can win for losing. So let’s take a look at how tax-loss selling works.

How does tax-loss selling work?

Tax-loss selling is the process of selling stocks at a loss to reduce the capital gains earned on an investment. Since capital losses are tax deductible, they can be used to offset capital gains and reduce tax liability on an investor’s tax return.

Tax-loss selling generally involves investments related to huge losses, and because of this, these sales generally focus on a relatively small number of securities within the public markets. However, it’s important to be aware that if a large number of sellers were to execute a sell order in tandem, the price of the securities would fall.

It’s also worth noting that once selling season has ended, shares that have become largely oversold can bounce back. In addition, the fact that tax-loss selling often occurs in November and December means the most attractive securities for tax-loss selling are investments that are likely to generate strong capital gains early in the next year.

As a result, a potentially beneficial strategy would be to buy during the selling season and sell after the tax loss has been established. This approach could be used on either long-term capital gains or short-term capital gains.

Some investors may consider selling an asset at a loss, deducting that loss for a tax gain and then purchasing the same stock again in an effort to evade taxes. This is known as a wash sale, and is prohibited by the Internal Revenue Service (IRS); if the IRS deems a transaction to be a wash, the investor would not be allowed any tax benefits.

To avoid this situation, investors must wait 30 days to repurchase shares that were originally sold for a loss. Additionally, shares sold for a loss must have been in the investor’s possession for over 30 days.

What are the important tax-loss selling dates for 2024?

Tax-loss selling comes with many potential benefits, but it nevertheless has some strings attached.

The key thing for investors to remember is that it has deadlines. For investors filing their taxes in Canada, the last day for tax-loss selling in 2024 is December 27. Stocks purchased or sold after this date will be settled in 2025, so any capital gains or losses will apply to the 2025 tax year. The system differs for those filing their taxes in the US, and based on information from the IRS, the last day for tax-loss selling this year is December 31.

Investors should always consult with an expert or review relevant tax documents directly for complete answers. The information contained in this article should not be considered tax advice.

The flip side of tax-loss selling

As tax-loss selling starts, opportunities can open up for those who have spent the year on the sidelines.

In her piece “How Bout Tax Loss Buying?,” Gwen Preston of Resource Maven explains that Canaccord Genuity (TSX:CF,OTC Pink:CCORF) has found that from mid-November to mid-December, S&P/TSX Composite Index (INDEXTSI:OSPTX) stocks down more than 15 percent year-to-date underperform the index by nearly 4 percent. However, from mid-December to mid-January, those same stocks outperform the index by 3.6 percent.

“That outperformance is on top of gains the TSX reliably generates over that time frame,” Preston explains. “So instead of only seeing tax-loss selling as a time to generate tax credits by dumping dogs, let’s look at the opportunity to profit.”

Watch Gwen Preston of Resource Maven discuss tax-loss selling.

How can investors time tax-loss selling?

Regardless of whether you’re engaging in tax-loss selling or buying, Steve DiGregorio, portfolio manager at Canoe Financial, recommends acting swiftly and aggressively as “liquidity will dry up.”

He sees the second and third week of December as the ideal window, which is well ahead of the “Santa Claus rally” — the period around the last week of December when stocks tend to rise ahead of a healthier market in January.

For now, the year isn’t over yet, so whether you’re tax-loss selling or buying, there’s still time to talk to your accountant or financial advisor to determine which approach is best for you.

Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Overview

Brunswick Exploration (TSXV:BRW,OTCQB:BRWXF,1XQ:FF) is among the only public companies aggressively and systematically conducting grassroots exploration for lithium in Canada and Greenland using state-of-the-art exploration technology to identify high-potential targets. Specifically, our team has staked major under explored pegmatite fields across Quebec, Newfoundland and Labrador, Nova Scotia, New Brunswick, Ontario, Manitoba, Saskatchewan and Greenland.

Our team of geologists begins by compiling available data and conducting research to identify locations where they believe the potential for minerals of interest might be found. Our technical field team is dispatched to conduct a prospecting program by gathering robust observational data using tried-and-true field geology techniques. The goal of the program is to reveal the presence of mineralization that may predict the presence of an unknown mineral deposit.

The company’s exploration team is guided by Robert Wares, Executive Chairman of the company and co-founder of the original Osisko Mining, who was responsible for discovering the Canadian Malartic bulk tonnage gold mine, which was subsequently developed by Osisko Mining into one of Canada’s largest gold producers. Wares is an established and award-winning professional geologist with over 40 years of experience in mineral exploration and development.

Brunswick Exploration has identified five high-priority projects in the Eeyou Istchee-James Bay region of Quebec: Mirage, Elrond, Anatacau, PLEX and Mythril. In 2023, grassroots lithium discoveries were made at Mirage, Elrond and Anatacau, which are currently the focus of drilling.

Company Highlights

Brunswick Exploration Inc. (BRW) is a Montreal-based mineral exploration company listed on the TSXV under symbol BRW. The company is focused on grassroots exploration for lithium in Canada and Greenland, a critical metal necessary to global decarbonization and energy transition. This has generated one of the largest grassroots lithium portfolios globally. BRW’s board includes Robert Wares, one of the founders of Osisko Mining.The company has staked hundreds of untested prospective pegmatites measuring a minimum strike length of 500 meters and within 50 kilometers of infrastructure.In 2023, three discoveries were made in the Eeyou Istchee-James Bay region of Quebec at the Mirage, Anatacau Main and Elrond projects.In 2023, BRW completed a maiden 3,712-meter drill program at the Anatacau West project in Quebe that generated up to 26.5 metres at 1.51 percent Li2O.BRW completed 2 drill programs at the Mirage project, located in the Eeyou Istchee-James Bay region of Quebec. Intercepts include up to 58.1 metres at 1.59 percent Li2O.The company also completed a maiden drill program in early 2024 at the Elrond project to test the Arwen pegmatite discovered in 2023. Results are pending. The company will launch a Maiden drill program at the Anatacau Main project in the Eeyou Istchee-James Bay region of Quebec to test the Anais showing in H2 2024.Sirios Resources signed an agreement with Brunswick Exploration granting it the right to purchase a 0.5 percent net smelter return (NSR) held by Sirios on eight claims that are part of Brunswick Exploration’s Mirage lithium property located in Eeyou Istchee James Bay.

Key Projects

Mirage Project

The Mirage Project comprises 427 claims with a total surface area of 21,230 hectares (staked and optioned claims), located roughly 40 kilometers south of the Trans-Taiga Highway in Quebec’s James Bay region. Fruitful discussions with a geologist that worked the area twenty-five years ago for gold exploration led to the staking of the BRW claims, as he recorded the presence of several angular pegmatitic glacial boulders hosting well-defined, decimetric spodumene crystals. The largest observed boulder measured 8 meters by 4 meters by 3 meters. In the fall of 2023, BRW discovered several high grade spodumene outcrops over a 2.5 kilometer trend as well as an adjacent 3.0 kilometer spodumene boulder train that has different minerology than the discovered outcrops.

In 2023, BRW completed a 5,000-meters drill program at the Mirage Project. The phase 1, 26-hole program, aimed to test the continuity and widths of the six widest spodumene-bearing pegmatite dykes that have been discovered to date on the property over a total cumulative strike length of 2,500 meters. Final drill results from the 2023 program at the Mirage project have outlined two new spodumene mineralized dykes (MR-5 and MR-6) with significant thickness and grade, all within the Central Zone. MR-23-28 intersected high-grade mineralization of 1.80 percent Li2O over 37.2 meters starting from surface in newly discovered dyke MR-6 located 500 metres northeast of MR-3. Evidence of potential stacking of dykes in Central Zone where MR-23-35 intercepted 11.5 meters grading 1.1 percent Li2O approximately 100 meters south of MR-3 in new dyke MR-5.

In H1 2024, a Phase II drilling campaign, containing 35 holes was completed at the Mirage project by targeting the extensions of known pegmatite dykes (MR-1 to MR-6) while new prospective outcrops have yet to be drill-tested. Results have generated up to 58.10 meters of 1.59 percent Li2O. Final results will be released when available.

In 2024, Brunswick Exploration signed an agreement with Sirios Resources to repurchase an existing 0.5 percent NSR on certain claims within the Mirage project

Elrond Project

The Elrond Project comprises 136 claims with a total area of 7,048 hectares, located roughly 12 kilometers east of the Billy Diamond Highway in Quebec’s James Bay region. Elrond is part of the Mythril option agreement with Midland Exploration whereby BRW can earn a maximum of 85 percent interest in the project.

In the fall of 2023, BRW uncovered a new, undocumented spodumene-bearing pegmatite, known as the Arwen showing, that is exposed over a surface area measuring approximately 250 meters by 100 meters, dipping very shallowly to the north. The pegmatite remains open in all directions.

The Arwen outcrop is well mineralized in spodumene throughout the showing with an apparent higher-grade zone, containing up to 30 percent spodumene, which has a visible extent of approximately 75 by 15 meters. The spodumene crystals are well formed and up to 30 centimeters in length with an off-white color and were confirmed through LIBS analysis and UV light.

In early 2024, the company completed a maiden drilling campaign at the Elrond project to test the Arwen spodumene-bearing pegmatite. The Arwen pegmatite is well mineralized and three representative grab samples returned values between 1 and 3 percent Li2O. A high-resolution airborne magnetic survey was flown in the fall of 2023 and suggests that the Arwen showing is emplaced in a favorable structural corridor that is 4 kilometers long and 500 meters wide. The target area is proximal to infrastructure, located approximately 12 kilometers from the Billy-Diamond Highway and drilling activities will be ground supported via a winter road.

Results will be released when available.

Anatacau

Comprising the Anatacau Main and Anatacau West projects, these assets are under an option agreement with Osisko GP, a subsidiary of Osisko Development, under which Brunswick Exploration can earn a 90 percent interest in the projects. The Anatacau property is located just east of Arcadium’s (NYSE:ALTM) James Bay Lithium deposit (previously known as the Cyr deposit), which has a total mineral resource of 110.2 million tons (Mt) at 1.30 percent lithium oxide and a total ore reserve of 37.3 Mt at 1.27 percent lithium oxide.

BRW completed a maiden drill program at the Anatacau West property totalling 3,712 meters. 17 of the 18 drilled holes intersected spodumene mineralization that generated up to 26.5 metres at 1.51 percent Li2O.

In the summer of 2023, Brunswick discovered a significant lithium pegmatite outcrop, measuring at least 100 meters long by 15 meters wide known as the Anais showing in Anatacau Main. The outcrop is within a larger cluster of pegmatite dykes all of which contain high-grade lithium mineralization.

This discovery is located 22 kilometers east of Anatacau West and Arcadium’s James Bay Project along a large-scale E-W deformation corridor which is host to the known lithium-bearing pegmatite dykes in the region.

BRW is planning a maiden drill program in 2024 to test the Anais pegmatite as well as a property wide prospecting and geochemical program.

Management Team

Robert Wares – Executive Chairman

Robert Wares is a professional geologist with more than 35 years of experience in mineral exploration and development. He was responsible for discovering the Canadian Malartic bulk tonnage gold mine, which was subsequently developed by Osisko Mining into one of Canada’s largest gold producers. Wares was a co-winner of the Prospectors and Developers Association of Canada’s ‘Prospector of the Year Award’ for 2007. He was also named one of the ‘Mining Men of the Year’ for 2009 by the Northern Miner. He has a bachelor of science and an honorary doctorate in Earth sciences from McGill University.

Killian Charles – President and CEO

From 2017 to 2021, Killian Charles worked as VP of corporate development for Osisko Metals. Charles was previously the manager of corporate development at Integra Gold Corp, which was an advanced-stage gold development company until it was acquired by Eldorado Gold in July 2017. He worked as a mining analyst at Industrial Alliance Securities and Laurentian Bank Securities. Charles covered small and mid-cap exploration and production companies as a mining analyst. Charles holds a bachelor of science with a major in Earth and planetary sciences from McGill University.

Anthony Glavac – CFO

Anthony Glavac has more than 17 years of experience in financial reporting, including over 12 years in the mining industry. Since August 2017, Glavac has served as vice-president, and corporate controller for Falco Resources, and previously served as director, financial reporting and internal controls at Dynacor Gold Mines. Glavac spent 10 years at KPMG, working with both public and private companies, providing audit, taxation, strategic advisory and public offering services. Glavac is also involved with other public companies in the mining industry.

François Goulet – Exploration Manager, Quebec

François Goulet holds a master’s degree in structural geology from the Université du Québec à Montréal (UQÀM). In recent years he was president and CEO of Harfang Exploration, a gold project generator in the James Bay region. He has extensive experience working in the James Bay region of Quebec as well as international experience in a variety of exploration projects. Goulet has worked for Virginia Mines, Unigold, Maya Gold and Silver, the Canadian Malartic Partnership, Glencore Canada and several other junior companies. He is a member of the board of directors of l’Association de l’exploration minière du Québec (AEMQ) and a registered geologist with the Ordre des géologues du Québec since January 2011.

Charles Kodors – Exploration Manager, Atlantic Canada

Mr. Kodors is the Manager, Atlantic Canada at Brunswick Exploration Inc. and has been with the company since January 2021. Having 15 years of experience in the mining and exploration industry, he most recently served as an Exploration Manager for Osisko Metals and a Senior Exploration Geologist for Kirkland Lake Gold. Mr. Kodors received his B.Sc. from Brock University and is a registered Professional Geologist within the provinces of New Brunswick, Newfoundland, Nova Scotia, Ontario, Quebec, Manitoba and Saskatchewan.

Simon Hébert – Vice-president, Development

Simon Hébert is a professional geologist with over 13 years in the mining exploration industry. He began his career with Virginia Mines and Osisko Mining. Hébert has worked on several metallogenic projects and in various environments, mainly in the Baie-James territory, Nunavik and the Northwest Territories. He was a mining director in April 2019 where he participated in the formation of NQ Mining Investment, where he subsequently became general manager in 2023. Hébert is a registered professional geologist and a member of the Ordre des Géologues du Quebec since 2012. He has sat on the AEMQ board of directors since 2019, serving as vice-president. He is president of the board of directors of the Table Jamésienne de concertation minière. Hébert holds a bachelor’s degree in geology from Université Laval.

This post appeared first on investingnews.com

Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNR) (‘Athena’ or the ‘Company’) is pleased to report high-grade gold and silver samples from its first-ever underground mapping and sampling program at its flagship Excelsior Springs project in Nevada’s prolific Walker Lane Trend. Five samples were collected underground from the past-producing Buster Mine, which historically produced an estimated 19,200 oz Au at an average grade of 41.1 g/t Au. Two of these samples returned high-grade Au, including:

50.6 g/t Au and 33.7 g/t Ag over 0.3 m, from the 75′ level; and,28.1 g/t Au and 29.6 g/t Ag over 1.0 m, from the 125′ level.

The reconnaissance program conducted in August 2024 represents Athena’s first-time underground at the Buster Mine, providing an opportunity for the team to have a close-up look at the mineralized orebody and gain a better understanding of structural controls at Excelsior. Historical sampling included four samples which exceeded the upper detection limit of 10 g/t Au; however, these were never analyzed to completion. The geologist who collected the surface and underground samples at the Buster Mine in 1986 estimated a mineralized zone containing a historical mineral inventory of up to 200,000 oz Au within a shallow depth of 61 m. This estimate is historical in nature and should not be relied upon as a current mineral resource. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves.

We are pleased to see sampling results confirm the high-grade nature of the epithermal veins at the historic Buster Mine. In addition, we now have a much better understanding of structural controls on mineralization at Excelsior, which should bode well for planning our upcoming drill program’ stated John Power, President & CEO of Athena Gold. ‘Due to small stoping dimensions and uncertain ground conditions, we were unable to sample over broader zones – however, we have reason to believe that high-grade, vein-hosted mineralization ‘bleeds’ into the host rock as evidenced by previous drilling at Excelsior. The Buster Mine area is located 400 meters from the Western Slope Zone where our recent RC drill campaigns returned several impressive intercepts including up to 5.2 g/t Au over 33 m. Importantly, the geochemistry at Buster and the Western Slope Zone appear very similar, providing evidence that both mineralized zones may be part of the same system, and opens up the possibility of a larger, mineralized system connecting these two zones.

Two distinct structural orientations were observed and believed to be controlling mineralization, both east-west striking. The first is very steeply north dipping and yielded 50.6 g/t Au over 0.3 m (Figure 1). This sample was collected near the eastern stope on the 75′ level, where historical sampling returned 5.8 g/t Au over 1.07 m. Historically, the higher-grade samples which exceeded the 10 g/t Au detection limit were collected from the western stope on the 75′ level. Most of the past production occurred within the western stope, which extends from near surface to the 125′ level.

On the 125′ level, a shallow 35° north dipping fault zone yielded 28.1 g/t Au over 1.0 m (Figure 2). The steeper structures identified on the 75′ level appear to be cut by this younger, shallow structure.

This work program demonstrated the important role these shallow structures, which can be traced on surface, play in the control of mineralization at Excelsior Springs. Additional surface and underground mapping will be conducted to better understand the distribution and extent of mineralization along these structures to better target future drilling.

Figure 1: Plan map of the historic Buster Mine, 75′ level.

Figure 2: Photograph of 125′ Level at Buster Mine, showing sample location and identified structures, looking east.

About the Buster Mine

The Buster Mine is located on the Fortunatus patented claim owned by Athena and is an integral part of our flagship Excelsior Springs Project.

Mineralization at the Buster Mine was discovered in 1872 and has been through several periods of small-scale mining and exploration efforts. During the late 1800s and perhaps the early 1900s there was unconfirmed reported production from the Buster Mine of an estimated 19,200 oz Au at an average grade of 41.1 g/t Au.

The Buster Shaft is 235′ deep, with workings on the 75′, 125′, and 175′ levels. It is estimated there is approximately 1,540′ of accessible workings, most of which are on the 75′ and 125′ levels.

Technical Information

The data disclosed in this news release includes historical exploration sampling results. The reader is cautioned that the historical results are based on prior data and reports prepared by previous property owners and other sources. Athena has not independently analyzed the results of the historical exploration work to verify the results. The reader is cautioned not to treat them, or any part of them, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results. No independent QA/QC protocols are known for these samples and as such analytical results may be unreliable. Athena’s current and future exploration work includes verification of the historical data through further exploration.

QA/QC

Sample preparation and gold analysis was performed by ALS Global in Reno, Nevada. Rock samples were analyzed for gold and 50 other elements by inductively coupled plasma followed by mass spectrometry (ME-MS41) and gold by 30-gram fire assay followed by atomic absorption (Au-AA23). Gold over limits were determined by a gravimetric method (Au-GRA21).

Qualified Person

Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.

About Our Flagship Excelsior Springs Project

The Excelsior Springs Project (the ‘Project’) lies within the prolific Walker Lane tectonic trend, a large region of northwest-trending, strike-slip fault zones that host a significant number of precious metal deposits having very strong structural control for mineralization. The Walker Lane trend is experiencing a major resurgence of intense and successful exploration and development.

The Project contains numerous prospect pits, trenches, roads, surface sampling sites and 113 drill holes to date within a 300m X 3,000m wide (1,000 foot-wide and 10,000-foot-long east-west trending zone of shearing and alteration. Underground workings on the two patented claims within the Project had unverified, historical production of 19,200 oz at 41.1 g/t Au.

Gold mineralization discovered at the Project to date occurs in quartz veins, stock-works, and silicified zones in hornfels and calc-silicate altered country rock and is generally close to porphyry dykes. The best grades and thicknesses discovered recently were found in oxidized and altered sedimentary rock immediately above porphyry dykes intruded along preexisting east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a relatively flat plunge, making them potentially amenable to open pit mining methods.

Based on the results of previous drilling programs, the Project has the potential to host one or more shallow gold deposits amenable to open pit mining, along with deeper, higher grade feeder zones that may be found and could be mined by underground methods. In the opinion of management and its consultants, the Project is very promising and further exploration has the potential to expand the known mineralization and establish additional mineralized zones.

About Athena Gold Corporation

Athena is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on the Project.

For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.

On Behalf of the Board of Directors

John C. Power
Chief Executive Officer and President

For further information, please contact:

John C. Power
Email: johnpower@athenagoldcorp.com

Jason Libenson
President and CCO
Castlewood Capital Corporation
Phone: (647)-534-9884
Email: jason@castlewoodcapital.ca

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, ‘forward-looking statements’) within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future exploration plans and the completion of a phase 2 drill program at the Project, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: ‘believes’, ‘will’, ‘expects’, ‘anticipates’, ‘intends’, ‘estimates’, ‘plans’, ‘may’, ‘should’, ‘potential’, ‘scheduled’, or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner, QAQC procedures at the Project were followed, the availability of financing on suitable terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including of the Canadian Securities Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and other factors and risks that are discussed in the Company’s periodic filings with the SEC and disclosed in the final long form prospectus of the Company dated August 31, 2021.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise.

Source

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Israel has launched what it called “a limited ground operation” across its northern border into Lebanon targeting the Iran-backed militant group Hezbollah, opening a new and dangerous phase in almost a year of war.

The incursion, which Israel’s National Security Cabinet has called the “next phase” of its war with Hezbollah, marks the fourth time that Israeli soldiers have publicly entered Lebanese soil in nearly 50 years, and the first since Israel’s 34-day war in the country in 2006.

Israeli troops laid the groundwork for the incursion in recent days, ramping up airstrikes that have killed hundreds of people, destroyed homes and displaced about 1 million people in Lebanon.

The latest escalation comes after Israel killed Hezbollah’s leader Hassan Nasrallah in an airstrike on Friday and decimated the leadership of the most powerful paramilitary force in the Middle East.

Here’s what we know.

Extent of incursion unclear

Israeli officials have characterized the incursion into southern Lebanon as limited in scope, saying there will be “no long-term occupation.”

The Israeli military said it was focused on removing “immediate threats” from Lebanese villages along the border, including Hezbollah’s ability to infiltrate northern Israel.

But officials have declined to say how deep Israeli troops would venture into the country or how long the operation is expected to last.

Israeli leaders have hinted that further action would come. On Monday, Israeli Defense Minister Yoav Gallant told troops near the Lebanese border that the assassination of Hezbollah leader Nasrallah was “a very important step, but it is not the final one,” and that “we will employ all the capabilities at our disposal.”

While the extent of Israel’s military plans inside Lebanon remain unclear, Prime Minister Benjamin Netanyahu has become increasingly defiant of international calls for restraint and de-escalation, as well as widespread outrage over growing civilian casualties in Lebanon and Gaza.

Previous military operations initially declared by Israel to be limited in their goals have proved to be anything but.

Examples include Israel’s years-long occupation of southern Lebanon that began in 1982 with the stated aim of a brief and limited mission to destroy the Palestinian Liberation Organization (PLO) in the country.

More recently, Israel’s military declared a “limited” operation in Rafah, southern Gaza that has left the city in ruins.

What happened ahead of the incursion?

Shortly before the incursion, Israel’s National Security Cabinet approved the “next phase” of its war with Hezbollah, according to Israeli media.

In preparation, the Israeli military launched small raids and artillery fire across the Lebanon border, and sealed off several communities in northern Israel, limiting the movement of civilians there.

The Lebanese army had also evacuated observation posts at the southern border and moved to barracks in the border villages, according to a Lebanese security source.

Meanwhile, Israel’s air force once again bombed the southern suburbs of the Lebanese capital Beirut, predominantly Shia neighborhoods where Hezbollah has a stronghold.

It follows Israeli airstrikes that hit inside Beirut’s city limits early Monday for the first time since the Palestinian militant group Hamas’ October 7 attacks on Israel.

Isn’t Israel fighting Hamas in Gaza? Why are Israeli troops now in Lebanon?

Israel and Lebanon-based Hezbollah have been engaged in a tit-for-tat escalation since the war in Gaza began following Hamas’ attack on Israel last October. Hezbollah has said it will not stop striking Israel until a ceasefire is reached in the Palestinian enclave, much of which has been reduced to rubble by Israeli bombs and fighting.

In recent weeks, Israel has refocused its military objectives north with a new war aim to return displaced residents to their homes along the Lebanon border. About 60,000 Israeli civilians have been forced from their homes by Hezbollah’s rocket attacks.

What’s unfolded is some of the fiercest fighting between the two longtime foes since the 2006 Lebanon war, which killed 1,100 in the country. Nearly 50 Israeli civilians and 121 Israeli soldiers were also killed.

Last month, pagers and walkie-talkies used by Hezbollah members exploded across Lebanon in a coordinated Israeli attack that killed dozens of people and maimed thousands, including women and children.

Israel has also stepped up a relentless bombing campaign across Lebanon targeting Hezbollah’s infrastructure and leadership, but the strikes have also decimated homes and neighborhoods in densely populated areas. Massive airstrikes in southern Beirut have killed a string of Hezbollah leaders, as well as more than 1,000 people.

The Iran question

The latest developments raise questions about how a weakened Hezbollah will respond, and the extent to which its backer Iran could get involved, once more ratcheting up fears of a wider regional war.

Hezbollah is part of an Iran-led alliance spanning Yemen, Syria, Gaza and Iraq that has attacked Israel and its allies since the war with Hamas began.

In a fiery speech on Sunday, Netanyahu said one of Israel’s goals is “changing the balance of power in the region” and that “there is no place in Iran or the Middle East that the long arm of Israel will not reach.”

Killing Hezbollah leader Nasrallah and wiping out the group’s capabilities to launch a large-scale attack on Israel were “necessary” conditions to achieve that goal, he said.

Israel has also ramped up attacks on multiple fronts against other Iran-backed militants, including launching strikes targeting the Houthis in Yemen.

But despite the recent Israeli strikes on its proxies, Iran has appeared wary of moving into direct conflict with its longtime enemy, even as their decades-long shadow war has been pushed further into the open. Many observers fear any direct Iranian retaliation could draw the United States further into the conflict.

How has the US reacted?

Attention has focused on how the once-mighty US is increasingly powerless to rein in its ally or to influence other major belligerents in a fast-worsening regional crisis.

The White House on Monday said Israel has the right to defend itself, but warned of the risk of “mission creep” in a ground operation that could ultimately broaden in scope and turn into a longer-term incursion.

President Joe Biden last week unveiled a 21-day ceasefire proposal, backed by other US allies, that was almost immediately rejected by Netanyahu – to the frustration of the White House.

The US is a key provider of Israel’s weapons — it likely supplied the 2,000-pound bombs  used to kill Hezbollah’s leader — but Biden and his advisers have continued to call for a diplomatic resolution.

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Chinese leader Xi Jinping reiterated his pledge to achieve “reunification” with Taiwan on the eve of Communist China’s 75th birthday, as Beijing flexed its military might in the run-up to the national holiday.

At a state banquet celebrating the founding of the People’s Republic on Monday, Xi used his address to underscore his resolve to achieve the “complete reunification of the motherland.”

“It’s an irreversible trend, a cause of righteousness and the common aspiration of the people. No one can stop the march of history,” he told the thousands in attendance at the Great Hall of the People in Beijing, according to state-run news agency Xinhua.

China’s ruling Communist Party claims Taiwan as its own, despite having never controlled it, and has vowed to “reunify” with the self-governing democracy, by force if necessary.

But many people on the island view themselves as distinctly Taiwanese and have no desire to be part of Communist China.

The two sides have been ruled by separate governments since 1949, after the end of the Chinese civil war. The communists took power in Beijing and founded the People’s Republic of China on October 1, 1949, while the defeated nationalists fled to Taiwan, moving the seat of the Republic of China from the mainland to Taipei.

Successive Chinese leaders have vowed to one day take control of Taiwan, but Xi, China’s most assertive leader in decades, has ramped up rhetoric and aggression against the democratic island – fueling tension across the strait and raising concerns for a military confrontation.

“Taiwan is China’s sacred territory. Blood is thicker than water, and people on both sides of the strait are connected by blood,” Xi told the banquet attended by more than 3,000 people, including officials, retired party leaders and foreign dignitaries.

He also called for deeper economic and cultural exchanges across the Taiwan Strait and promotion of “spiritual harmony of compatriots on both sides.”

“(We must) resolutely oppose ‘Taiwan independence’ separatist activities,” Xi said.

Beijing has labeled Taiwan’s President Lai Ching-te a “dangerous separatist,” and tensions have ratcheted up since Lai’s inauguration in May, during which he called on China to cease its intimidation of Taiwan.

Taiwan officials say Beijing has intensified military activities around the island in recent months, including drills in May that the Chinese military said were designed to test its ability to “seize power” over the island.

On Sunday, Taiwan’s Defense Ministry said it was on alert after detecting “multiple waves” of missile firing deep in inland China.

The missiles were fired by the Chinese People’s Liberation Army’s Rocket Force in the inland regions of Inner Mongolia, Gansu, Qinghai and Xinjiang, the ministry said in a statement, adding that Taiwan’s air defense forces have “maintained a high level of vigilance and strengthened their alert.”

It comes just days after China fired an intercontinental ballistic missile into the Pacific Ocean for the first time in 44 years, in a rare public test that analysts said was meant to send a message to the United States and its allies amid heightened regional tensions.

The issue of Taiwan has become a major point of contention between China and the US, which maintains close but informal relations with Taipei and is bound by law to supply the island with weapons to defend itself.

On Sunday, US President Joe Biden approved an additional $567 million in military support for Taiwan in the largest aid package America has granted the island. The funding will cover defense articles as well as “military education and training,” the White House said in a statement.

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