Oceanus Resources Corporation Reports Earnings Results for the Third Quarter Ended December 31, 2018
Feb 28 19
Oceanus Resources Corporation announced earnings results for the third quarter ended December 31, 2018. For the third quarter, the company announced net loss was CAD 299,577 compared to CAD 322,120 a year ago. Basic loss per share was CAD 0.002 compared to CAD 0.002 a year ago. For the nine months, net loss was CAD 886,729 compared to CAD 947,521 a year ago. Basic loss per share was CAD 0.006 compared to CAD 0.007 a year ago.
Oceanus Resources Corporation Provides the Review of 2018 Activities
Jan 10 19
Oceanus Resources Corporation provided the review of 2018 activities. 2018 Year End Review: Following the issuance in September 2017 of the Company's maiden resource estimation for the 100% owned El Tigre Property located in Sonora, Mexico, the Company carried out a regional prospecting and mapping program during 2018 with the objective of identifying extensions of the El Tigre Formation. The El Tigre Formation is the is the rock package that hosts the historic El Tigre mine, which operated from 1903 to 1938, and was reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012). The Phase 1 prospecting and mapping program was carried out to the south of Gold Hill and demonstrated that the El Tigre Formation continues along strike in a southeasterly direction for an additional 5 kilometres to the Lluvia de Oro prospect. Tunnels exposing quartz veins with the same alterations and mineralization as observed in the existing El Tigre area, and assays, demonstrated significant potential for additional near-surface mineralization in this newly defined area. The El Tigre Formation was also identified a further 3 kilometres to the south at La Mancha where old workings were located. The Phase 2 prospecting and mapping program was carried out on the eastern side of the mountain. The team located several historic underground workings in this area (Santa Maria) that followed mineralized quartz veins similar to the old El Tigre Mine, as well as, outcropping of vein mineralization. Given the positive results from this program, the Company submitted application in March 2018 to acquire an additional 4,465 hectares. This represents an increase of 20% for a total land package of 26,307 hectares. The Phase 3 prospecting and mapping program was carried out to north-east of the resource area on the new claims and identified outcropping of the El Tigre Formation in several areas. 2019 Exploration Program Oceanus has now identified in excess of 10 kilometres of favorable host stratigraphy with several areas of mineralization identified to the south, east and north-east of the old El Tigre Mine. The Company plans to send the exploration team back to the property in 2019 to continue prospecting and mapping as well as sampling. The objective of this program will be to establish drill targets. The El Tigre Property is approximately 35 kilometres long and comprises 26,307 hectares. The El Tigre gold and silver deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad gold and silver mineralized prophylitic alternation zone. The veins dip steeply to the west and are typically 1 metre wide but locally can be up to 5 metres in width. The veins, structures and mineralized zones outcrop on surface and have been traced for a distance of 10 kilometres along strike. Historical mining and exploration activities focused on a 1.5 kilometre portion of the southern end of the deposits, principally on the El Tigre, Seitz Kelly and Sooy veins (El Tigre Mine). Four veins in the north (Aguila, Escondida, Fundadora and Protectora) were explored with only limited amounts of production. The El Tigre formation is the rock package that hosts the historic El Tigre Mine, which operated from 1903 to 1938, and was reported to have produced a total of 353,000 ounces of gold and 67.4 million ounces of silver from 1.87 million tonnes averaging 7.54 g/t gold and 1,308 g/t silver (Steven D. Craig, B.A., M.Sc., P. Geo. 2012). Oceanus' drilling during 2017 intersected similar-style gold-silver mineralization in the El Tigre formation at the Protectora, Caleigh and Fundadora areas to the north of the old mine as well as to the south, past Gold Hill. A maiden resource estimate for the El Tigre Property was reported by Oceanus on September 13, 2017 containing indicated resources of 661,000 gold equivalent ounces at 0.77 g/t (21 g/t silver and 0.51 g/t gold) and inferred resources of 341,000 gold equivalent ounces at 1.59 g/t (88 g/t silver and 0.52 g/t gold). The complete National Instrument 43-101 technical report is available on the Company's website and on SEDAR under the Company's profile. The El Tigre gold and silver deposit is related to a series of high-grade epithermal veins controlled by a north-south trending structure cutting across the andesitic and rhyolitic tuffs of the Sierra Madre Volcanic Complex within a broad gold and silver mineralized prophylitic alternation zone. The veins dip steeply to the west and are typically one metre wide, however, locally can be up to five metres in width.
Oceanus Resources Corporation, Annual General Meeting, Sep 28, 2018
Jul 31 18
Oceanus Resources Corporation, Annual General Meeting, Sep 28, 2018, at 10:00 Atlantic Standard Time. Location: Halifax Marriott Harbourfront, 1919 Upper Water Street Halifax Nova Scotia Canada Agenda: To receive the financial statements of the Corporation for the year ended March 31, 2018, together with the report of the Auditor thereon. No vote by Shareholders with respect to the financial statements is required or proposed to be taken; to elect directors of the Corporation for the forthcoming year; to appoint the Auditor of the Corporation for the forthcoming year and to authorize the directors to fix the Auditor's remuneration; to ratify, confirm and re-approve the Corporation's incentive stock option plan; to transact such further and other business as may properly come before the Meeting or any adjournment thereof.