Westminster Resources Ltd. [TSXV: WMR, Frankfurt: 08W3] (“WMR” or “Westminster” or the “Company”) is pleased to announce that it has commenced a systematic review of all past exploration related work at Mostazal. The Mostazal copper – silver property is located in the Atacama Desert of Chile, 80 km northeast of Copiapo, 30 km east of Inca de Oro. The property consists of eight exploitation licenses covering approximately 16 square kms within the main porphyry copper belt of Chile, along the Domeyko Fault System.
In particular, the company is in the process of reviewing data from a 2012 – 2013 exploration program conducted by a prior operator at Mostazal. This program included geophysical and geochemical surveys conducted with the primary objective of delineating the extent and margins of a 4 km by 2.5 km north-south trending belt of outcropping copper mineralization and associated rock geochemical anomalies.
Jason Cubitt, Westminster’s President and CEO states, “Mineralization at surface bears all the hallmarks of an extension to a buried porphyry copper system, including tell-tale alteration halo, and the suite of copper sulphides and associated pathfinder elements you’d expect to see.” Mr. Cubitt continues, “It’s highly encouraging to see the geophysical modeling of structures of significant size at depth lying beneath known copper mineralization at surface.”
The preliminary interpretation of the geophysical data indicates that much of the known mineralization at surface is closely correlated to four deep-rooted magnetic anomalies. Anomaly “A” (figure 1) occurs on the eastern margin in the northern part of the grid and is coincident with mineralization and artisanal workings. Two further anomalies, “B” and “C”, are part of a large circular feature located in the central part of the grid and both are closely associated with known mineralization. The fourth deep magnetic anomaly, “D”, is located in the southern part of the grid and is open to the south. These four anomalous areas are considered key target areas for additional exploration at Mostazal, targeting both additional stratabound mantos-style mineralization as well as the modelled porphyry at depth.
Figure 1: Historical ground magnetics map, Mostazal Copper Project, Chile.
The central magnetic anomalies form a circular feature approximately 1.6 km in diameter. This magnetic high consists of two strong lobes on the west and east side of the grid. Given that the majority of the grid is mapped as andesite, the circular shape of the central magnetic high may be indicative of magnetite emplacement through hydrothermal alteration. Known copper mineralization occurs within this magnetic high, particularly within the two lobes. There is “striking correlation between the known mineralization and the two magnetic highs”, as reported in the September 2012 Geophysical Report on Mostazal, by Joe Jordan.
The company has engaged Kit Campbell of Campbell & Walker Geophysics Ltd. to review existing geophysical data together with the historic drill hole database. This will then be integrated into the Leapfrog geology software to produce an updated three-dimensional model of the study area.
The 2012-2013 shallow drilling defined a discontinuous stratified mineralization system of Cu and Ag in porphyritic andesites with hydrothermal alteration of chlorite-epidote-sericite and silicification. Mineralization of copper oxides mixed with chalcocite is observed from the surface down to 40 to 50 m deep. Below, mainly chalcocite and locally bornite, and chalcopyrite are observed. Copper minerals consist of an oxide phase (malachite, chrysocolla, and minor atacamite and azurite) and a sulphide phase (chalcocite, minor bornite). Whitish-gray chalcocite is the dominant copper sulfide mineral.
Technical information in this news release has been reviewed and approved by Derrick Strickland, P. Geo., a qualified person as defined in National Instrument 43-101.
FOR FURTHER INFORMATION CONTACT:
Neither the TSX Venture Exchange nor its Regulation Service Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of accuracy of this news release.
This news release contains certain forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward-looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected including, but not limited to, market conditions, availability of financing, actual results of the Company’s exploration and other activities, environmental risks, future metal prices, operating risks, accidents, labor issues, delays in obtaining governmental approvals and permits, and other risks in the mining industry. All the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required by applicable law.
How Canadian Business Is Changing to Better Suit a New Generation of Leaders
Refocused and reenergized, Canada’s most influential business magazine will help readers engage with the leaders who are driving innovation in this country Business in Canada is changing — and so is Canadian Business. Trusted by executives and entrepreneurs for nearly a century, the country’s preeminent business magazine is refocused, reenergized and ready for its exciting…
Refocused and reenergized, Canada’s most influential business magazine will help readers engage with the leaders who are driving innovation in this country
Business in Canada is changing — and so is Canadian Business.
Trusted by executives and entrepreneurs for nearly a century, the country’s preeminent business magazine is refocused, reenergized and ready for its exciting relaunch this September. Online and in print, the publication will offer everything from inspiring profiles to unique thought leadership that reflects the changing face of business from coast to coast — and with an eye to global trends.
“Business leaders today are not the same as they were a decade ago — or even five years ago,” says Charlotte Herrold, the newly appointed editor-in-chief of Canadian Business. “They’re young, diverse and progressively minded. They’re working to build a better future for Canada by fostering meaningful change, not by looking only at the bottom line.”
With this shift already underway, the upending effects of COVID-19 have brought these leaders — and their boundary-pushing ideas — even further to the fore. As they help Canada “build back better” in the post-pandemic world, Canadian Business will be there to serve up the inspiration and resources to fuel their important work.
It’s something that Canadian Business has been doing for more than 90 years. The magazine got its start in 1928 as a newsletter of the nascent Canadian Chamber of Commerce. Though its content was soberly bureaucratic, its aim (and that of the Chamber) was lofty: to foster a spirit of cooperation among business leaders — and in doing so, encourage innovation and improve the economy.
In 2021 and beyond, Canadian Business is all about bringing together the country’s business community. And whether you’re a small-business owner or a captain of industry, joining our community has real benefits. Sign up now for our e-newsletter to learn more about our relaunch and the many ways we’ll be challenging the status quo to showcase new ways of doing business. Among them, our Canadian Business Leadership Circle offers exclusive insights and experiences courtesy of a new C suite-level executive every month, while our CB Insider membership program will help you connect with other business leaders from across Canada.
Because those are the things leaders do. They communicate with clarity and authenticity. They embrace change. They build relationships with purpose. Exactly what you can expect from the new Canadian Business.
Highlights From the Growth 2020 CEO Summit
The backdrop for this year’s CEO Summit was a nail-biter, quite literally: As we convened hundreds of (very!) accomplished executives from this year’s Growth 2020 cohort, the world at large was captivated by another decisive moment in global leadership: the American election. (Maybe you heard?) Whatever the result, and spurred on by the catalytic effects…
The backdrop for this year’s CEO Summit was a nail-biter, quite literally: As we convened hundreds of (very!) accomplished executives from this year’s Growth 2020 cohort, the world at large was captivated by another decisive moment in global leadership: the American election. (Maybe you heard?) Whatever the result, and spurred on by the catalytic effects of COVID-19, those at the helm of Canada’s organizations will need a new roadmap — one designed with diversity, resilience and, yes, innovation in mind.
Fortunately, this year’s CEO Summit provided no shortage of wisdom, courtesy of a wide and diverse array of Canadian talent (and talent-seekers). While we’ve made all recorded sessions available here, we’ve also summarized key learnings from some of the CEO Summit’s best moments:
1. A CEO survival plan
Having cut her teeth as something of a crisis savant to John Tory and Kathleen Wynne, the noted Raptors fan and former Executive Director of Toronto tech hub OneEleven111 is a woman with a plan — one she generously shared with the CEO Summit attendees. With her comprehensive five-point strategy (Triage; Reset; Communicate; Implement; Focus), Agrell outlined the must-dos for any exec facing down organizational peril. She also provided a survival guide for CEOs themselves, underscoring the importance of shoring up one’s own mental health in the pressure cooker that is the 2020 economy.
2. A new definition of resilience
First citing activist luminary Nelson Mandela, Dr. Brett Belchetz shared the exciting (and at times complicated) trajectory of Maple, the virtual platform revolutionizing the Canadian healthcare landscape. Despite its amazing success, Belchetz said it wasn’t a straight line to the top: Belchetz wisely noted that the company’s greatest opportunities for failure, like COVID, ended up being its biggest success stories (the business grew six-fold in recent months). Two key takeaways, per Belchetz: Have a cause that others can rally behind and ignore the haters.
3. A demand for diversity
The organizational upsides of inclusion are manifold — and need not merit a business case to be taken seriously. But that didn’t stop panelists Avery Francis (Bloom), Lauren Griffith (Canadian Tire), Emily MIlls (How She Hustles), and Amad Abdullah (KW Signs) from making one. The foursome discussed how the explosion of awareness, activism and desire for structural accountability in 2020 has provided no shortage of growth opportunities for companies, from tiny startups to large retailers, keen on evolving. “What we’ve been seeing,” said Francis, “is that organizations are being held accountable by the communities that work with them and those that they serve. They’re being called to take sustained action, not just a couple of posts on social media.”
4. A 10-step program
Staying afloat during COVID is undoubtedly priority one, but according to BDC executive advisor Clare Waters, there’s a wide berth for growth opportunities as well. From augmenting your mindset towards surrender (simple, right?) to keeping an eye on emerging needs and accelerating technology, Waters provided 10 salient tips for thriving in and after the pandemic economy, plus five key qualities of authentic leaders: humility, courage, openness, compassion and wisdom.
5. A(nother) word on the election
By now, we’re all aware of the impact of the U.S. election on our nerves, but how will it affect your business? Maryscott Greenwood (Partner, Crestview Strategy), Christopher Sands (Director of the Wilson Center’s Canada Institute) and journalist Paul Wells had a stimulating tete-a-tete-a-tete on the subject. Their wide-ranging discussion involved everything from trade policy to cyber sabotage to how the future president’s secretary selections could sway the trajectory of cross-border commerce. “This really [marks] a sea change in American politics,” Sands said, noting the rising profiles of younger faces in American leadership. “This was a strange election: For such a diverse country, you’ve [had] two 70-year old, white men running for president. I don’t think that will be the case in 2024.”
6. The balance of power
How does this sound: In his eye-opening keynote, Wes Hall — executive chairman and founder of Kingsdale Advisors and the Black North Initiative — illuminated the experience of Black Canadians in life and, crucially, at work. Providing eye-opening statistics on topics like discrimination in the workplace, unemployment rates, and c-suite representation, Hall’s talk came at a critical inflection point as broader cultural awareness of the Black Lives Matter movement has spurred Canadians to take stock of their prejudices and how they ripple outward into the employment sector.
7. A growth mindset
Tiffani Bova — Title: Global Customer Growth and Innovation Evangelist — is something of a growth guru in her role at Salesforce, and she imparted some of her evolutionary wisdom to week two’s attendees. In her COVID-appropriate session, “Preparing Your Business to Adapt, Respond and Grow,” Bova called growth a “thinking game,” explaining that with an agile combination of beginner’s mind, small pivots over time, and an emphasis on company values, trust and transparency, businesses will be able to navigate the pandemic’s choppy waters intact.
7. A rocket man
In his spirited keynote, “How to Build a Rocket Ship,” Rajen Ruparell — CEO and founder Endy — explained exactly how one of Canada’s biggest names in bedding has moved so many mattresses in its relatively short life. The secret sauce, according to Ruparell? A combination of laser-focus, marketing efficiencies and, chiefly, employees who are curious, risk-tolerant and purpose-driven. The result? Annual revenue in excess of $100 million, which undoubtedly helps Ruparell (and many Endy-loving Canadians) sleep better at night.
It wouldn’t be the Growth 500 CEO Summit without recognizing the amazing business minds that populate our list, and continue to contribute in innovative ways to Canada’s economy. Below, the 2020 Growth Award Winners (congrats!):
Fastest-Growing Company Award: Marlin Spring
Fastest-Growing Start-Up Award: Steel River Group
Business Pivot Award: CoPilot AI
Employer of the Year Award: Ahava Digital Group
Excellence in Diversity Award: KW Signs
Female Entrepreneur of the Year Award: Judith Fetzer, CEO, Cook It
Global Business Award: STEMCELL Technologies
Philanthropy Service Award: D-Squared Construction
Technology Trailblazer Award: Ecopia.AI
Thanks again to our amazing sponsors for making the Growth 2020: CEO Summit possible: Presenting sponsor, Salesforce, Category sponsor, BDC, Awards sponsor, Johnnie Walker Blue Label and Gifting sponsor, Herbaland.
U.S. financial regulators in hot seat as Biden ramps up climate agenda
Author of the article: Reuters Katanga Johnson and Chris Prentice WASHINGTON — As U.S. President Joe Biden escalates his climate change agenda, pressure is growing on the country’s regulators to catch up with Europe and incorporate various risks posed by climate change into their oversight of the financial system. The White House is expected to…
WASHINGTON — As U.S. President Joe Biden escalates his climate change agenda, pressure is growing on the country’s regulators to catch up with Europe and incorporate various risks posed by climate change into their oversight of the financial system.
The White House is expected to soon issue an executive order on climate change which could require the country’s systemic risk watchdog to assess how climate change could hurt financial companies and markets, and to gather and share relevant data.
It could also tell agencies to consider climate change risks when supervising financial firms and to reverse rules introduced by former President Donald Trump’s administration which have curbed sustainable investments, according to progressive groups.
While the executive order is just the first step in what is likely to be a lengthy and contentious rule-writing process, it nevertheless marks a watershed for U.S. climate and financial policy which could have major ramifications for Wall Street.
“It’s a real sea change for U.S. financial regulators as they begin promoting transparency into what companies and financing firms are doing to address climate risks,” said Ty Gellasch, head of Washington think tank Healthy Markets.
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Climate change could upend the financial system because physical threats such as rising sea levels, as well as policies and carbon-neutral technologies aimed at slowing global warming, could destroy trillions of dollars of assets, risk experts say.
In a 2020 report, the Commodity Futures Trading Commission (CFTC) cited data estimating that $1 trillion to $4 trillion of global wealth tied to fossil fuel assets could ultimately be lost.
“In every other aspect of risk management, we expect regulators to establish clear expectations for financial institutions, and to hold them to those expectations,” said Brian Schatz, a Democratic senator who has sponsored financial climate risk bills. “It’s time for our regulators to apply those tools to climate risks.”
After the Trump administration’s assault on climate change policy, the United States lags Europe on financial climate risk and is under pressure from countries there to catch up. With a record $51 billion pouring into sustainable U.S. funds in 2020, investors are also pushing for better information on how company balance sheets and earnings could be dented by climate change.
Europe requires large companies to disclose risks and data on environmental issues and is introducing sustainability disclosures for investment products.
The United States has no climate-specific disclosure rules. It also lacks definitions for key terms like “sustainable,” and has no commonly used standards for measuring corporate environmental goals or climate risks.
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European regulators have also begun adding climate risks to annual bank exams, a step the Fed has so far resisted.
“While their counterparts overseas have begun developing and implementing policy on climate change, most of the U.S. regulators haven’t done anything significant yet,” said David Arkush, head of advocacy group Public Citizen’s climate programs.
Officials say the issues are extremely complex and need to be analyzed first. And the Federal Reserve, CFTC and housing finance agency have begun assessing how climate change could affect lenders, trading firms and the markets they oversee.
The securities watchdog is also cracking down on companies and funds that mislead investors over climate issues and is tightening up its current guidance on corporate climate risk disclosures.
But progressives want them to impose strict European-style obligations, including detailed disclosures for companies on direct and indirect greenhouse gas emissions, and their total carbon assets. They also want the Fed to test bank balance sheets against specific scenarios, such as a rise by 1 or 2 degrees Celsius in average global temperatures.
Many such measures will be opposed by Republicans and corporate lobbyists, who say Democrats are using financial policy to advance a political agenda.
The U.S. Chamber of Commerce, for its part, supports a “narrow set” of climate change policies which it says should be enacted by Congress, not regulators.
Advocacy groups hope, though, that the White House executive order should provide some political cover for agencies.
“There will be some corporate pushback,” said Ilmi Granoff of foundation ClimateWorks. “But this is all the more reason a signal from the president is warranted and important.”
(Reporting by Katanga Johnson and Chris Prentice; Editing by Michelle Price and Lisa Shumaker)
In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.
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