Uncategorized
AUXICO SIGNS OFFTAKE AGREEMENT FOR TIN CONCENTRATE FROM THE MASSANGANA TIN TAILINGS PROJECT IN BRAZIL
Auxico Resources Canada Inc. (CSE: AUAG) is pleased to announce the signing of an offtake agreement with the company Cuex Metal AG (“Cuex”), for the purchase of commercial tin concentrates (cassiterite) from the Company’s Massangana Tin Tailings project located in the state of Rondônia, Brazil. The agreement represents a purchase of 3,600 tonnes per year, over a period of five years, for a total of 18,000 tonnes of commercial tin concentrates. At current London Metal Exchange prices, the material is valued at US$330 million. Cuex is the Swiss subsidiary of Shangai Qunxian Industrial (Group) Co., Ltd., a bulk commodity Chinese trading company.
Auxico intends to build a 2,500 tonne per day processing facility in Rondônia that will produce on a yearly basis: 6,000 tonnes of cassiterite, 90,000 tonnes of ilmenite, 13,500 tonnes of columbite, 90,000 tonnes of zirconium and 37,500 tonnes of monazite. A recent economic forecast commissioned by the Company and prepared by the Brazilian independent company PrimeStar has projected yearly revenues of US$300 million, and an annual EBITDA of US$198 million. The Company is in the process of negotiating additional offtake agreements for cassiterite, columbite, zirconium and rare earths. The start of commercial production is planned for the second quarter of 2023.
The Massangana tailings are estimated to contain 30,000,000 tonnes (non-compliant NI 43-101), and they have been an object of the study titled ‘Investigation of tin and tantalum ores from the Rondônia Tin Province, northern Brazil, to develop optimized processing technologies’, prepared by the German Mineral Resources Agency and Geological Survey of Brazil. The study is available on the following link:
https://www.auxicoresources.com/reports.
“We are extremely pleased to announce the signing of the agreement with Cuex, another important milestone in the development of the Massangana Tin Tailings project”, said Pierre Gauthier, Chairman & CEO of Auxico. “With a scalable and sustainable project such as Massangana, along with the Company’s valued partnerships, we aim to become a consistent long-term provider of tin, titanium, rare earths and other critical minerals to global markets. We continue to explore other strategic partnerships and look forward to updating the markets on further developments.”
Auxico previously signed a joint venture agreement with Cooperativa Estanifera de Mineradores da Amazônia Legal Ltda. (“CEMAL”) for the production of various concentrates from the Massangana tailings. Information on the Massangana Tin Tailings Project and terms of the joint venture agreement were previously disclosed in the news release published by the Company on June 7, 2022.
The monazite concentrate originating from the tailings and provided to Auxico by CEMAL was analyzed by Coalia Research Institute in Thetford Mines, Quebec, and contained 63.49% total rare earth oxide content (TREO).
Disclaimer – The estimate of 30,000,000 tons of tin tailings is non NI 43-101 compliant. The provided monazite concentrate contained 63.49% TREO. This was not selected under the supervision of the QP, and therefore the chain of custody cannot be independently established for the sample and is non-compliant with NI 43-101. The economic forecast done by a Brazilian company is based on previous work which has not yet been verified in the field under the supervision of the QP, and therefore the QP and the Company cautions the reader as to the reliability for the values and economic forecasts presented in this press release. The results of the economic forecast are presented as a conceptual model only based on previous non-compliant NI 43-101 studies, and is intended to give the reader an idea of what the economic model may look like based of these previous studies, and cautions the reader that the economic model is non NI 43-101 compliant.
About Auxico Resources Canada Inc.
Auxico Resources Canada Inc. is a Canadian company that was founded in 2014 and based in Montreal. Auxico is engaged in the acquisition, exploration and development of mineral properties in Colombia, Brazil, Mexico, Bolivia and the Democratic Republic of the Congo.
Posted August 23, 2022
MORE or "UNCATEGORIZED"
Critical Metals Corp Achieves Breakthrough Tanbreez Heavy Rare Earth Results: >99% Dissolution of Eudialyte Concentrate Into 19 Ultra-High-Purity Rare Earth Products; Refinery Study Projects US$1.8–2.2b in Annual Refinery Revenue
Critical Metals Corp. (Nasdaq: CRML) a leading critical minerals ... READ MORE
September 16, 2026
Metalsource Mining Extends High Grade Mineralization at Depth as Silver Hill Exploration Enters Major Expansion Phase
Holes SH26-22 and SH26-23 return up to 930 g/t AgEq within broade... READ MORE
September 16, 2026
Pasinex Completes Sale of High-Grade Zinc Sulphide Material and Provides Pinargozu Operations Update
Pasinex Resources Limited (CSE: PSE) (FSE: PNX) a growing zinc-fo... READ MORE
September 16, 2026
Aya Gold & Silver Reports High-Grade Silver Exploration Results Near Pit and at Depth at Zgounder
Aya Gold & Silver Inc. (TSX: AYA; NASDAQ: AYA) is pleased to... READ MORE
September 16, 2026
New Break Resources Ltd. (CSE: NBRK) (OTCQB: NBRKF) (FSE: O91) has received results from the last four holes of a ten-hole, 1,996 metre summer drilling program in the Zavitz gold zone at the Company's 100% owned Moray gold project. In total, New Break has completed 5,372 metres of drilling in 32 drillholes in 2026. Moray is located 49 km southeast of Timmins, Ontario and 32 km northwest of the Young-Davidson gold mine operated by Alamos Gold Inc. Select results from the final four of ten holes drilled in the summer drilling program are presented below in Table 1, while drillhole collar locations are detailed in Table 2 in Appendix A. Table 1 – Moray Summer 2026 Final Drill Results Hole ID Length (m) From (m) To (m) Width (1) (m) Au Grade (2) (g/t) NBR-26-29 322.0 77.3 78.8 1.5 0.42 and 138.0 139.1 1.1 0.38 and 162.5 173.3 10.8 (3) 1.61 and 227.4 229.0 1.6 1.21 and 231.5 232.1 0.6 1.72 NBR-26-30 250.0 37.0 38.0 1.0 0.30 and 102.8 103.5 0.7 0.60 and 121.5 122.5 1.0 0.36 and 124.5 125.5 1.0 0.33 and 128.5 129.0 0.5 0.90 and 131.0 132.0 1.0 0.36 and 169.8 174.0 4.2 2.65 and 178.0 179.5 1.5 0.77 and 183.5 186.6 3.1 1.22 and 190.0 190.5 0.5 1.06 and 191.5 192.5 1.0 1.48 and 196.0 200.5 4.5 2.53 and 203.5 204.0 0.5 2.15 and 206.5 212.0 5.5 1.57 NBR-26-31 274.0 169.0 170.5 1.5 0.37 and 184.5 186.0 1.5 0.51 and 197.0 200.0 3.0 0.94 and 201.5 202.0 0.5 0.50 and 203.5 210.0 6.5 (3) 3.12 NBR-26-32 352.0 73.5 74.0 0.5 0.44 and 174.0 174.6 0.6 0.52 and 194.0 195.0 1.0 0.66 and 199.8 203.3 3.5 2.29 and 227.3 228.0 0.7 0.97 (1) Intervals are drill intersections and do not necessarily represent true widths. (2) All intervals are presented using a cut-off grade of 0.3 g/t Au and internal dilution of no more than 1.0 metres at grades less than 0.3 g/t Au and assays are not capped (see QA/QC Procedures). (3) Drill core photos shown in Appendix B. Figure 1 – Newly Reported Drillholes NBR-26-29, 30 Figure 2 – Newly Reported Drillholes NBR-26-30, 31, 32 Note: The bottom of NBR-26-30 deviated southeast and is represented in both sections. Figure 1: Section B-B1 incorporates drillholes NBR-26-06, 07, 08, 25, 26, 27, 28, 29 and part of 30. Gold mineralization extends southeast into the syenite as exhibited in NBR-26-29. NBR-26-30 is identified in both sections A-A1 and B-B1 as the drillhole was collared along section A-A1 but deviated southeast, intersecting gold mineralization in the mafic volcanics in section B-B1. Figure 2: A-A1 incorporates drillholes NBR-26-03, 04, 05, 23, 24, 30, 31 and 32. NBR-26-31 exhibits gold mineralization both within the syenite (at the contact) and within a "flow breccia" within the hematite altered mafic volcanic at the contact. NBR-26-32 is typified by blocky faulted ground with lamprophyre dykes and gold mineralization in the hematite altered mafic volcanics in a brecciated quartz vein with angular syenitic fragments. William Love, Chief Executive Officer of New Break commented, "Ongoing drilling this summer in the Zavitz gold zone continues to deliver significant gold values, with gold mineralization intercepted in every drillhole. As depicted in Figures 1 and 2, gold mineralization has been encountered predominantly within the mafic volcanics. Importantly, drillholes NR-26-29 and NR-26-32, the deepest drilled to date, demonstrate that gold mineralization extends into the syenite to the southeast at the contact with the mafic volcanics." He further noted, "The intrusive-mafic volcanic contact in the Zavitz gold zone has a distinctive magnetic high. This could be reflective of the higher proportion of iron in these mafic volcanics, which is associated with the higher gold values. This same magnetic and IP signature has been identified elsewhere in areas also believed to be along the intrusive-mafic volcanic contact. Drilling these never before tested targets with the goal of identifying gold mineralization similar to that encountered in the Zavitz zone represents the potential for significantly expanding the Moray gold discovery. There is also the belief that the Zavitz zone could represent the first of a series of stacked mineralized gold zones, which would point to the potential for a much larger gold system at depth. We plan to test this through deeper drilling directly into the Zavitz zone." About the Moray Gold Project The Moray property is located in the heart of the Ontario Abitibi greenstone belt, 49 km southeast of Timmins surrounded by a number of significant gold producing companies and existing mills (see Figure 3). The Young-Davidson gold mine operated by Alamos Gold Inc., with its 8,000 tonne per day mill is the closest and within a short trucking distance of approximately 45 km by road from Moray. The understanding of gold mineralization at Moray continues to evolve with each round of drilling. The occurrence of gold mineralization extending into the syenite to the southeast of the Zavitz zone and in the deepest drillholes is noteworthy given the presence of syenite-hosted mineralization at Young-Davidison. More recent examination of the drill core also suggests that the gold mineralization discovered to date may resemble an intrusion related style of deposit like Agnico Eagle's Upper Beaver gold deposit east of Kirkland Lake, as opposed to a structurally hosted gold system. Both Young-Davidson and Upper Beaver host multi-million ounce gold deposits. Figure 3 – Moray Location Map: Surrounding Gold Producers and Upper Beaver Gold Project Technical Content and Qualified Person The scientific and technical information contained in this news release has been reviewed and approved by Peter C. Hubacheck, P. Geo, consulting geologist to New Break, and an independent Qualified Person as defined by National Instrument 43-101. Mr. Hubacheck certifies that this news release fairly and accurately reflects the technical information and data presented. New Break conducts its exploration activities in accordance with CIM Best Practices Guidelines. QA/QC Procedures QA/QC procedures were executed to ensure all work is conducted in accordance with best practices. All drill core was sawn in half with one half of the core prepared for shipment and the other half retained for future verification. All core is under watch from the drill site to the core processing facility. Drill core is BQTK size and sample intervals range from 0.5 metres to 1.0 metres in length. Commercially prepared certified reference material ("CRM") standards and blanks were inserted with each shipment at a rate of 1 QAQC sample in every 12 core samples. Samples from New Break's 2026 Moray drilling program were analyzed at Activation Laboratories in Timmins, Ontario, which is ISO 17025 certified, by 30-gram fire assay with atomic absorption finish. Any sample assaying greater than 10.0 g/t Au was re-assayed with fire assay gravimetric analysis. Grade composite intervals over core lengths are calculated using a weighted average grade with a cut-off grade of 0.3 g/t Au. Up to 1.0 m of internal dilution (consecutive interval below cut-off grade) are included within specific geologic domains and alteration assemblages, except as otherwise noted. The composites are constrained geologically by metasomatic alteration processes sourcing from the Fiset syenite intrusion and contact mafic volcanic rocks. Elevated gold values are coincident with hematite, silica, sericite and pyrite mineralization within structurally prepared brecciated corridors flanking the intrusion. Intervals are not true widths and no top cutting has been applied to the higher gold values. About New Break Resources Ltd. New Break is a Canadian mineral exploration company focused on its Moray gold project located 49 km southeast of Timmins, Ontario, in a well-established mining camp within proximity to existing infrastructure, and 32 km northwest of the Young-Davidson gold mine, operated by Alamos Gold Inc. Shareholders are also leveraged to exploration success in Nunavut, Canada, through New Break's 20% carried interest in the Sundog gold project and ownership of 6.0 million shares of Guardian Exploration Inc. (TSXV: GX). The Company is supported by a highly experienced team of mining professionals. Appendix A – Drillhole Data and Locations Table 2 – Moray Summer 2026 Drillhole Collar Locations Hole ID Length (m) UTM Easting UTM Northing UTM Elevation Azimuth (degrees) Dip (degrees) NBR-26-29 322.0 492703 5320285 363 220 -70 NBR-26-30 250.0 492708 5320329 363 220 -47 NBR-26-31 274.0 492708 5320329 363 220 -60 NBR-26-32 352.0 492708 5320329 363 220 -70 Total 1,198.0 Coordinates are reported in UTM Zone 17 North, with units in metres. Figure 4 – Zavitz Gold Zone – Surface Traces of 2025 and 2026 Drillholes. All of the drilling at Moray has been completed by Enviro North Exploration Inc. out of Sturgeon Falls, Ontario. Drilling in the Zavitz gold zone is shown in figure 4, with the 1,996 metres in 10 holes drilled this summer depicted in red, the 2,807 metres in 20 holes drilled from January to April 2026 shown in blue and the 1,817 metres in 8 holes drilled in 2025 shown in black. In total, 6,620 metres in 38 drillholes have been completed in the Zavitz gold zone, while New Break has completed a total of 5,372 metres in 32 drillholes of our planned 2026, 10,000 metre drilling program. Appendix B – Drill Core Photos From NBR-26-29 and NBR-26-31
New Break Resources Ltd. (CSE: NBRK) (OTCQB: NBRKF) (FSE: O91) ha... READ MORE
September 16, 2026
