Giant Mining To Drill Four Core Hole Drill Program At Majuba Hill
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*Press Release December 4, 2024
Giant Mining To Drill Four Core Hole Drill Program
At Majuba Hill
VANCOUVER, BC — December 4, 2024 — Giant Mining Corp. (CSE: BFG | OTC:
BFGFF | FWB: YW5) (“ Giant Mining ” or the “Company”) announces the
company is planning a four hole Core Drilling Program (“Core Program”) at its Majuba
Hill Copper-Silver Deposit (“Majuba Hill” or “the Project”) in Pershing County, Nevada.
The Core Program is designed to follow up hole MHB -30 ( “MHB-30”) which
encountered high-grade copper -silver mineralization from 0 to 218.0 feet (66.4
meters) of 1.35% Cu and 73.4 g/t Ag including 74.0 feet (22.6 meters) of 2.6% Cu
and 30.1 g/t Ag.
Figure 1: Magmatic-Hydrothermal Breccia Corridors and Prominent Breccia Bodies
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Combining the copper and the silver results returns a copper equivalent of:
0 to 218.0 feet (66.4 meters) of 2.1% Copper Equivalent (“CuEq”) including
140.0 to 214.0/ 74.0 feet (22.6 meters) at 2.9% CuEq.
"We are excited to announce this newest core drill program as a follow up to hole
MHB-30, which significantly exceeded our expectations for high -grade copper-silver
mineralization," said David Greenway, CEO of Giant Mining. " The company is
steadfast in its belief of the potential at Majuba Hill and that 2025 will be a breakout
year for Copper, with industry insiders seeing the potential for $5.00+ copper on the
horizon, an undeniable shortfall of copper supply and a new US Presi dential
administration that will focus on speeding up permitting timelines for critical,
domestic mineral production.”
Drilling is planned to target the Southern Breccia Corridor with holes oriented to
intersect the high-grade mineralized breccia. Drilling will focus on the deeper portions
of the breccia and the extensions of the high -grade copper zones below the historic
underground workings.
Figure 2: Giant Mining 2024 Drilling with Grade Domains and Magmatic-Hydrothermal
Breccia Corridors
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Figure 3: MHB-30 55.5-57.0 meters (182-187 ft)/ 1.5 meters (5 ft) @ 4.5% Cu & 49.0 g/t
Ag with Strong Copper Oxides in Mineralized Breccia
Figure 4: MHB-30 47.9-49.4 meters (157-162 ft)/1.5 meters (5 ft) @ 2.1% Cu & 16.3 g/t
Ag in Mineralized Breccia fragment with chalcopyrite and bornite
Copper Equivalent Calculation
Copper equivalent (CuE q) values were calculated on September 24 th, 2024, by
combining the assay values for copper and silver assay results for each intercept
using an interval -weighted calculation based on $4.475/lb Cu and $ 31.29/oz Ag .
Copper on September 24 th, 2024, was trading at $ 4.475/lb Cu and $ 31.29/oz Ag
(prices from https://www.cnbc.com/quotes; Copper (Dec′24) @HG.1: CEC:
Commodities Exchange Centre and Silver COMEX (Dec′24) @SI.1: CEC: Commodities
Exchange Centre).
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Hole ID From
(m) To (m) Interval
(m) Cu (%) Ag
(g/t)
Au
(g/t)
Mo
(ppm)
Sn
(ppm)
Zn
(ppm)
MHB-30 0.0 66.4 66.4 1.35 73.4 0.074 107 229 387
including 42.7 65.2 22.6 2.60 30.1 0.092 206 95 414
Quality Assurance/Quality Control (“QA/QC”) Measures, Chain of Custody
The Company utilizes a QA/QC program using best industry practices at the Majuba
Hill Project. The samples are placed in cloth or plasti c sample bags and are
transported from the Giant Mining secure warehouse to the ALS Labs Sample Prep
Facility in Elko, Nevada. ALS then transports the prepared pulps to their analytical
lab in North Vancouver, B.C.
Drill core samples are sawn in half lengthwise and one half is placed in labeled cloth
sample bags. All samples are analyzed for copper, gold, silver, and 33 other
elements. Gold is determined by ALS Labs method Au-AA23 which is a fire assay with
an AAS finish on a 30-gram split. Copper, silver, and the remaining 31 elements are
determined by ALS Labs method ME -ICP61 which is a four -acid digestion and ICP -
AES assay. Approximately 10% of the submitted samples are drill duplicates and
copper-gold-porphyry commercial standard reference material pulps. The sa mple
rejects and remaining pulps will be retrieved from ALS Labs.
Qualified Person
The scientific and technical information contained in this news release has been
reviewed and approved by E.L. “Buster” Hunsaker III, CPG 8137, a non-independent
consulting geologist who is a “Qualified Person ” as such term is defined
under National Instrument 43 -101 – Standards of Disclosure for Mineral Projects
(“NI 43- 101”).
Corporate Communications
The Company announces that it has engaged the services of Free Market Media Ltd.
(“Free Market”) to assist the company with corporate communications. Free Market
is based out of Langley, BC and its principal is Brent Rusin whose email is
[email protected] and phone number is 604-790-7291.
The Company has entered into a Consulting Agreement (the “Agreement) with Free
Market dated December 1st, 2024 whereby the services to be provided immediately
by Free Market is on an ongoing basis for the next 6 months. Free Market will be paid
a fee of $2,500 per month and issued 200,000 stock options exercisable at a price of
$0.20 for a period of 12 months. The Agreement may be renewed or extended by the
Company and Free Market at the end of the initial term. Free Market is not related
parties and operate at arm’s length.
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Non-Brokered Private Placement
The Company is pleased to announce a non -brokered private placement of up to
22,092,200 units (each a “Unit”) at a price of $0.10 per Unit for gross proceeds of up
to $2,209,200 million (the “Private Placement”).
Each Unit will consist of one common share (each, a “Share“) and one transferrable
common share purchase warrant (each, a “Warrant”). Each Warrant entitles the
holder to purchase one additional Share of the Company at a price of $0.25 per Share
for a period of 12 months from the date of issuance.
The Warrants will contain an acceleration provision which will provide that should the
Company’s Shares trade at or above $0.40 for a period of five (5) or more consecutive
trading days (the “Acceleration Condition“), the expiry date of the Warrants will be
accelerated to 30 days from the date that the Company provides notice (whether by
written notice to the holder or the issuance of a news release) that the Acceleration
Condition has been satisfied.
Listed Issuer Financing Exemption (“LIFE”) Offering
the Company is pleased to further announce a non -brokered private placement
offering of up to 1,371,040 shares of the Company ("Units") at a price of C$0.12 per
Unit (the " Offering Price"), for a ggregate proceeds of up to C$ 164,524.80 (the
"LIFE Offering").
The Units to be issued under the LIFE Offering will be offered to purchasers pursuant
to the Listed Issuer Financing Exemption (the "LIFE Exemption") under Part 5A of
National Instrument 45 -106- Prospectus Exemptions, in Alberta, British Columbia,
and Ontario. The Units offered will not be subject to a hold period in accordance with
applicable Canadian securities laws.
About Giant Mining Corp.
Giant Mining Corp. is engaged in the identification, review and acquisition of latter
stage copper and copper/silver/gold assets. This is in direct response to the growing
worldwide demand and lack of supply for precious metals fueled by the Green New
Deal in the US and most other developed nations with sim ilar 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.
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On Behalf of the Board of Giant Mining Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
P: 1 (604) 790-7291
VISIT OUR WEBSITE FOR MORE DETAILS
www.giantminingcorp.com
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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. Specific f orward-looking statements in this news release include, without
limitation, statements related to the anticipated listing of the Warrants on the CSE
and the entering into of a warrant indenture pursuant to which the Warrants shall be
governed. Although Giant Mining Corp. believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results may differ materially
from those in forward looking statements. Forward looking statements are based on
the beliefs, estimates and opinions of Giant Mining Corp. management on the date
the statements are made. Except as required by law, Giant Mining Corp. undertakes
no obligation to update these forward -looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.