Indonesia’s coal production hits record as energy needs rise
Indonesia is the world’s biggest exporter of coal and relies on it for the majority of its power needs.
(via TheNewswire)
VANCOUVER, BC — January 10, 2025 — TheNewswire – Giant Mining Corp. (CSE: BFG | OTC: BFGFF | FWB: YW5) (“Giant Mining” or the “Company”) is excited to provide an overview of the transformative developments from 2024 that have set the stage for what could be the company’s most ambitious and impactful year yet in 2025.
Giant Mining maintains its primary focus on the Majuba Hill Copper Deposit in Nevada. The Company and its world- class advisory team and global stakeholders remains unwavering in its belief that Majuba Hill has the potential to become one of the next great copper deposits and a future supplier of this critical red metal for both the United States and the global market.
Discover more about Majuba Hill Copper Deposit and Giant Mining Corp. by watching our corporate video. Gain insights into our vision and operations by visiting https://giantminingcorp.com/majuba-hill/.
Some of Majuba Hill’s critically important characteristics are as follows:
Location: Nevada – The #1 mining jurisdiction on the planet according to the Fraser Institute
Project Size: 9,684 Acres
Infrastructure: The Majuba Hill property is 113 road km (70 miles) southwest of Winnemucca, Nevada, and 251 km (156 miles) northeast of Reno. Access is by well-maintained county roads from the Imlay, Nevada exit on U.S. Interstate 80, and traveling westward 23 miles. People, Roads, Power and Water are the basic elements when considering infrastructure and Majuba Hill already has a solid infrastructure foundation for building a large facility which will provide significant savings compared to more remote projects.
History: Historical Producer
Click Image To View Full Size
Figure 1: Historical Production from Majuba Hill (USD $32 Million in Historical production at Today’s Prices)
Drilling: 83,925 feet of drilling to date. Rough replacement value of drilling USD $10.4 Million in development costs.
Mineralization: The project shows indications of a potentially large Cu – Ag +/- Au mineralized body with many features in common with both large porphyry copper, silver, and gold projects.
Deposit: A 2023 Report by RESPEC Engineering outlines the potential for deposit of up to 660,000,000 pounds of copper. See report.
Expandability: IP Survey, deep drilling, step out drilling all suggest expandability with expansion open in all directions.
Fully Financed: Secured funding for 2025 Drilling Campaign
“We couldn’t be more pleased by what the company was able to achieve in 2024 at Majuba Hill on advancing what we truly believe will become a significant domestic copper deposit for the USA, for the benefit of all Giant Mining stakeholders and the Globe.” said David Greenway, CEO of Giant Mining. “We are now funded to take Majuba Hill to the next level and I couldn’t be more excited to see what 2025 will bring.”
Giant Mining is thrilled with what the Company was able to achieve in 2024:
Giant Mining spring-boarded off its 2023 RESPEC Engineering prepared independent technical report titled “Technical Report for the Majuba Hill Copper Project, Pershing County, Nevada, USA”, outlining an exploration target of 50,000,000 to 100,000,000 tonnes with a potential to host up to 660,000,000 pounds of Copper at Majuba. The possibility to expand that target remains open in all directions of the project. See report.
The Company completed all required permitting with the State of Nevada to be able to construct drill pads and access roads on the private ground. This forms the basis to carry out a significant expansion drilling program.
The Company paid the USD $240,762 Environmental bond required to secure the permit with the State of Nevada.
The Company welcomed renowned geologist Leo Hathaway to its Strategic Advisor Board Mr. Hathaway is a distinguished geologist with extensive experience in the exploration and mining sector, spanning from grassroots exploration to feasibility and development stage projects. He currently serves as Senior Vice President of Lumina Gold Corp and, since 2004, he has held senior positions such as the former Chief Geological Officer for Lumina Copper Corp and VP Exploration for Northern Peru Copper Corp, Regalito Copper Corp, Global Copper Corp, and Lumina Resources Corp. Additionally, he was a former partner in Lumina Capital LP. Prior to 2004, Mr. Hathaway worked with Inmet Mining in Europe, Australia, Central, and South America. Mr. Hathaway’s earned a B.Sc. (Hons) degree in Applied Geology from the University of Plymouth, an M.Sc. in Mineral Exploration from the University of London, and he obtained his P.Geo. in 2004 See Press release
Leo Hathaway shared his thoughts on joining the Advisory Board: “Majuba Hill represents a near surface leachable copper target and a number of additional, exciting primary copper targets laterally and to depth. In addition, it is located close to infrastructure in probably the most favourable mining jurisdiction in the world. I am eager to contribute whatever I can to Giant Mining Corp’s initiatives to help explore, advance and unlock the full potential of Majuba Hill, and I am thrilled to have the opportunity to work with the Company’s dedicated team.”
The Company brought cumulative exploration and development drilling at the project to 83,925 feet
The Company hit its best drill intercept at the project to date – See Press Release
Click Image To View Full Size
Figure 2: Hole MHB-31
“Giant Mining Intersects Surface High Grade at Majuba with 74.0 feet of 2.6% Cu and 30.1 g/t Ag within 218.0 feet of 1.35% Cu and 73.4 g/t Ag”
Click Image To View Full Size
Figure 3: MHB-30 39.3 meters (129 ft)/1.5 meters (5 ft) @ 1.86% Cu and 19.4 g/t Ag
Click Image To View Full Size
Figure 4: Magmatic-Hydrothermal Breccia Corridors and Prominent Breccia Bodies
Results from Core holes MHB-30 and MHB-31 provided the basis to interpret and begin to define the geometry of the copper deposit at Majuba Hill. The primary zone that forms the core for the potential 660,000,000 pounds of copper outlined in the 2023 NI43-101 Report is a multiphase breccia body. The breccia body is comprised of a central tourmaline breccia zone that hosts the high-grade copper values which returned 74.0 feet of 2.6% Cu and 30.1 g/t Ag within 218.0 feet of 1.35% Cu and 73.4 g/t Ag in MHB-30. Historic mining and previous high-grade copper and silver intercepts occur in this core zone. The tourmaline breccia grades outward into a limonitic breccia zone which appears to host the lower grades of copper and silver and then outward to the marginal breccia zone which has variable low-grade values, high-grade fracture-controlled copper, and areas with very low-grade copper. At least two of these multiphase breccia bodies were identified and they form the anchor points for the northwest trending Southern and Northern Breccia Corridors
Friday Gold Deposit
The Company provided Giant Mining Stakeholders an overview of its interest in the 1.237-million-ounce Friday Gold Project (“Friday Gold”). See Press release
The Friday Gold is situated in the historic Orogrande Mining District, approximately 16 km south-southwest of Elk City, Idaho, USA. This promising project, in which Giant Mining Corp. holds a 20% ownership stake, boasts a significant resource base of 1,237,000 ounces of gold. Strategically located in a mining-friendly jurisdiction, Friday Gold offers substantial potential for future exploration and development, aligning with the Company’s commitment to advancing high-value resource assets.
The Friday Gold consists of a Historical NI 43-101 MRE containing an indicated 647,000 Ounces of Gold at an average grade of 1.0 Gram per tonne and a further inferred resource of 590,000 ounces at an average grade of 0.88 grams per tonne using a cutoff grade of 0.45 grams per tonne.
Click Image To View Full Size
Figure 5: 3-D Modelling of Friday Gold Project, Idaho, USA
Closed Private Placement
The Company has successfully closed the first tranche of its non-brokered private placement (“NBPP”), issuing 25,650,000 units (“Units”) at a price of $0.10 per Unit for gross proceeds of $2,565,000. Each Unit consists of one common share (“Share”) and one transferable Share purchase warrant (“Warrant”). Each Warrant grants the holder the right to purchase an additional Share at a price of $0.25 per share for a period of 12 months from the issuance date. See Press Release
Market Awareness
The Company has entered into an Advertising Agreement dated January 8, 2025, with Gold Standard Media, LLC (“GSM”) (the “Advertising Agreement”) and its affiliates, and will provide the Company with advertising services including (i) creating landing pages, (ii) digital marketing, (iii) email marketing, and (iv) influencer marketing (collectively, the “Services”). The Services will be provided on platforms managed by GSM and its affiliates. The Company’s engagement of GSM is for a term of six months commencing on January 10, 2025.
The Company has also entered in an Advertising Agreement dated January 8, 2025, with Future Money Trends LLC (“FMT”), an affiliate of GSM (together with FMT and GSM, the “Service Providers”). The Service Providers have a business address located at 723 W University Avenue, Georgetown, TX 78626 and can be contacted at +1 512-843-1723 or [email protected]. Each of the Service Providers are controlled by Kenneth Ameduri, Juliet Ameduri, and Lior Gantz. The Service Providers, as well each of Kenneth Ameduri, Juliet Ameduri, and Lior Gantz, are at arm’s length from the Company. The Company, GSM and FMT have the right to terminate the advertising agreements upon providing thirty (30) days written notice to the other party.
In consideration of the Services, the Company has agreed to pay upfront payments as follows: USD $238,000 to FMT no later than January 10th, USD $450,000 to FMT with an initial payment of $200,000 due no later than January 10th, 2025, and the balance of $250,000 due no later than January 16th to GSM. These funds include fees and reimbursement for advertising expenses. The compensation being paid by the Company does not include options to purchase securities in Giant Mining.
Furthermore, the company announces it has re-engaged Plutus Invest Consulting GmbH ("Plutus") on January 8, 2025 for an additional term of 6 months commencing on January 9, 2025 in consideration for a total payment of EUR 238,000 with an initial upfront payment of EUR 153,500 to provide consulting services related to advertising, marketing, PR strategies and investor awareness in the European market. Plutus has a business address at Buchtstr. 13, Bremen 28195, Germany and can be contacted at (email: [email protected]), or by telephone: (+49 42117540174). Plutus (including its directors and officers) has an arm's-length relationship with the Company. The Company will not issue any securities to Plutus as compensation for its marketing services.
RSUS
The Company announces it has granted 2,000,000 restricted stock units (“RSUs”) to officers, directors, employees, and consultants of the Company. The RSUs are valid for a term of one year and under the terms of the Company’s restricted share unit plan (the “RSU Plan”). All the RSUs expire on January 8, 2026.
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 focused on identifying, acquiring, and advancing late-stage copper and copper/silver/gold projects to meet the growing global demand for critical metals. This demand is driven by initiatives like the Green New Deal in the United States and similar climate-focused programs worldwide, which require substantial amounts of copper, silver, and gold for electric vehicles, renewable energy infrastructure, and the modernization of clean and affordable energy systems.
The Company’s flagship asset is the Majuba Hill Copper, Silver, and Gold District, located 156 miles (251 km) from Reno, Nevada. Majuba Hill is situated in a mining-friendly jurisdiction with supportive regulations and has the potential to become one of the next major copper deposits, critical for meeting the increasing need for this red metal.
In addition, Giant Mining Corp. holds a 20% ownership stake in the Friday Gold Project, located in the historic Orogrande Mining District, Idaho, approximately 16 km south-southwest of Elk City. With a resource base of 1,237,000 ounces of gold, Friday Gold presents promising opportunities for exploration and development, reinforcing the Company’s strategy of advancing high-value resource assets in stable, mining-friendly regions.
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:
P: 1 (236) 788-0643
VISIT OUR WEBSITE FOR MORE DETAILS
LIKE AND FOLLOW
Instagram, Facebook, Twitter, LinkedIn
Click Here
Forward-Looking Statements
This news release contains certain forward‐looking information. Such information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by statements herein, and therefore these statements should not be read as guarantees of future performance or results. All forward‐looking statements are based on the Company’s current beliefs as well as assumptions made by and information currently available to it as well as other factors. Readers are cautioned not to place undue reliance on these forward‐looking statements, which speak only as of the date of this press release. Due to risks and uncertainties, including the risks and uncertainties identified by the Company in its public securities filings, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward‐looking statements, whether as a result of new information, future events or otherwise.
###
Copyright (c) 2025 TheNewswire - All rights reserved.
