Lion Copper and Gold Corp. Receives Additional Nuton Funding of US$5,000,000 at the Yerington Copper Project
Lion Copper and Gold Corp announces an amendment to Stage 2c Program of Work Agreement with Nuton , a Rio Tinto subsidiary, extending Stage 2 to June 30, 2025. The agreement includes US$5 million in additional funding from Nuton for advanced studies and pre-feasibility study (PFS) completion at the Yerington Copper Project. This brings Nuton's total funding to US$28 million, with US$19 million as Stage 3 advance funding. The project aims to implement Nuton's copper leaching technologies at Yerington, a district with over 17 billion pounds of copper endowment.
Lion Copper and Gold Corp annuncia una modifica all'Accordo del Programma di Lavoro Fase 2c con Nuton, una sussidiaria di Rio Tinto, estendendo la Fase 2 fino al 30 giugno 2025. L'accordo include 5 milioni di dollari USA in finanziamenti aggiuntivi da Nuton per studi avanzati e il completamento dello studio di pre-fattibilità (PFS) presso il Progetto Rame di Yerington. Questo porta il finanziamento totale di Nuton a 28 milioni di dollari USA, con 19 milioni di dollari USA come finanziamento anticipato della Fase 3. Il progetto mira a implementare le tecnologie di lavaggio del rame di Nuton a Yerington, un distretto con oltre 17 miliardi di libbre di riserve di rame.
Lion Copper and Gold Corp anuncia una enmienda al Acuerdo del Programa de Trabajo Etapa 2c con Nuton, una subsidiaria de Rio Tinto, extendiendo la Etapa 2 hasta el 30 de junio de 2025. El acuerdo incluye 5 millones de dólares estadounidenses en financiamiento adicional de Nuton para estudios avanzados y la finalización del estudio de pre-factibilidad (PFS) en el Proyecto de Cobre Yerington. Esto eleva el financiamiento total de Nuton a 28 millones de dólares estadounidenses, con 19 millones de dólares estadounidenses como financiamiento anticipado para la Etapa 3. El proyecto tiene como objetivo implementar las tecnologías de lixiviación de cobre de Nuton en Yerington, un distrito con más de 17 mil millones de libras de depósitos de cobre.
라이온 구리 및 금 법인은 리오 틴토의 자회사인 뉴턴과의 2c 단계 작업 계약을 수정하여 2단계를 2025년 6월 30일까지 연장한다고 발표했습니다. 이번 계약에는 500만 달러의 추가 자금 지원이 포함되어 있으며, 뉴턴이 예링턴 구리 프로젝트에서의 고급 연구 및 예비 타당성 조사(PFS) 완료를 위해 지원합니다. 이를 통해 뉴턴의 총 자금 지원은 2800만 달러에 이르며, 그 중 1900만 달러는 3단계 선행 자금으로 배정됩니다. 이 프로젝트는 170억 파운드 이상의 구리를 보유한 지역인 예링턴에서 뉴턴의 구리 침출 기술을 구현하는 것을 목표로 합니다.
Lion Copper and Gold Corp annonce un amendement à l'Accord de Programme de Travail de l'Étape 2c avec Nuton, une filiale de Rio Tinto, prolongeant l'Étape 2 jusqu'au 30 juin 2025. Cet accord comprend 5 millions de dollars américains de financement supplémentaire de Nuton pour des études avancées et l'achèvement de l'étude de faisabilité préalable (PFS) au Projet de Cuivre de Yerington. Cela porte le financement total de Nuton à 28 millions de dollars américains, dont 19 millions de dollars américains comme financement anticipé de l'Étape 3. Le projet vise à mettre en œuvre les technologies de lixiviation de cuivre de Nuton à Yerington, un district ayant plus de 17 milliards de livres de réserves de cuivre.
Lion Copper and Gold Corp kündigt eine Änderung des Arbeitsprogramms der Stufe 2c mit Nuton, einer Tochtergesellschaft von Rio Tinto, an, die Stufe 2 bis zum 30. Juni 2025 zu verlängern. Die Vereinbarung umfasst 5 Millionen US-Dollar an zusätzlichem Finanzierungsbedarf von Nuton für erweiterte Studien und den Abschluss der Machbarkeitsstudie (PFS) beim Yerington Kupferprojekt. Damit erhöht sich die Gesamtsumme von Nutons Finanzierung auf 28 Millionen US-Dollar, wovon 19 Millionen US-Dollar als Vorauszahlung für Stufe 3 dienen. Der Zweck des Projekts ist die Implementierung von Nutons Kupferauslaugungstechnologien in Yerington, einem Gebiet mit über 17 Milliarden Pfund Kupferreserven.
- Secured additional US$5 million in funding from Nuton
- Total funding from Nuton reaches US$28 million
- Project timeline extended to June 30, 2025
- Significant copper resource of 17 billion pounds in the district
- PFS completion still pending
- Project advancement contingent on NDEP permit approvals
- Final Stage 3 decision by Nuton still uncertain
Lion Copper and Gold Announces Amendment to Stage 2 Program of Work Agreement for advanced studies and completion of the PFS
Yerington, Nevada--(Newsfile Corp. - November 19, 2024) - Lion Copper and Gold Corp. (CSE: LEO) (OTCQB: LCGMF) ("Lion CG" or the "Company") is pleased to announce that Nuton LLC ("Nuton"), a wholly-owned subsidiary of Rio Tinto, and the Company (the "Parties") have agreed to a Stage 2c Program of Work Amendment. Stage 2c will be completed under the terms of the Option to Earn-in Agreement ("the Agreement"), dated March 18, 2022 and subsequent amendments. See news releases dated March 21, 2022, January 5, 2023, October 20, 2023 and December 27, 2023 for further details.
Under Stage 2c, the Parties have agreed to extend the term of Stage 2 to June 30, 2025. The Stage 2c work program includes advanced studies at Yerington, and completion of the pre-feasibility study (PFS) incorporating Rio Tinto's NutonTM technologies.
"We are pleased to continue working closely with Nuton to advance our Yerington Copper Project toward production. Applying Nuton's technologies has the potential to unlock substantial value by producing domestic copper with significant environmental, social and economic benefits compared to traditional copper production methods. The current funding reinforces Nuton's and Lion CG's aligned goal to demonstrate the commercial deployment of NutonTM copper leaching technologies at Yerington, a historical mining district with a copper endowment of over 17 billion pounds," stated Steve Dischler, CEO of Lion CG.
The advanced studies will continue de-risking the Yerington Copper Project and, upon receipt of required permits from the Nevada Department of Environmental Protection (NDEP), include additional exploration and geotechnical drilling at the Yerington site. The Stage 2c results will be used to inform Nuton's Stage 3 decision on whether to proceed with a Feasibility Study and earn-in, per the Agreement. Stage 2c will be funded with
About Lion CG (www.lioncg.com, nuton.tech/partnerships)
Lion Copper and Gold Corp. is a Canadian-based company advancing its flagship copper assets at Yerington, Nevada through an Option to Earn-in Agreement with Nuton LLC, a Rio Tinto Venture.
About Nuton (nuton.tech)
Nuton is an innovative venture that aims to help grow Rio Tinto's copper business. At the core of Nuton is a portfolio of proprietary copper leaching related technologies and capability - a product of almost 30 years of research and development. Nuton offers the potential to economically unlock copper from primary sulfide resources through leaching, achieving market-leading recovery rates and contributing to an increase in copper production at new and ongoing operations-. One of the key differentiators of Nuton is the ambition to produce the world's lowest footprint copper while having at least one Positive Impact at each of our deployment sites, across our five pillars: water, energy, land, materials and society.
NutonTM Technologies
The NutonTM technologies are proprietary Rio Tinto-developed copper heap-leach related processing and modeling technologies, capability and intellectual property.
On behalf of the Board of Directors,
Steven Dischler
Chief Executive Officer
For more information please contact:
Email: info@lioncg.com
Neither the Canadian Stock Exchange (CSE) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
The technical information in this news release has been reviewed and approved by Steven Dischler, CEO of Lion Copper and Gold Corp., a registered Professional Engineer and a qualified person as defined in NI 43-101.
Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "expect", or the negative of these terms and similar expressions. Forward-looking statements in this news release include, but are not limited to, statements with respect to the future exploration activities and anticipated results. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with exploration activity; general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; the ability of Lion CG to implement its business strategies; competition; currency and interest rate fluctuations and other risks.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230513
FAQ
How much additional funding did Lion Copper and Gold (LCGMF) receive from Nuton in 2024?
What is the total funding provided by Nuton to Lion Copper and Gold (LCGMF)?
When is the new completion date for Stage 2 of Lion Copper and Gold's (LCGMF) Yerington Project?
How large is the copper endowment at Lion Copper and Gold's (LCGMF) Yerington district?
