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  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Dustin Angelo, President, CEO & Co-founder,

NOVAMERA

"Novamera is enabling companies to unlock mineral resources through our cost-effective, more precise, and minimally invasive method of mining."

Can you elaborate on the C$5 million financing Novamera raised to conduct its first full field trail, and how it is progressing?

Novamera started a financing round in November 2020 and closed the C$5 million raise in July 2021. BDC Capital’s Industrial Innovation Venture Fund was the lead investor, with Chrysalix Venture Capital, our existing equity sponsor, also contributing with a follow-on investment, as well as contributions made by management. The Sustainable Mining by Drilling (SMD) field trial, which is being performed at Anaconda Mining’s site in Newfoundland, began in early July and is on course to be finalized by November 2021. The trial serves as a proof of concept of the entire three-step mining and remediation process. What that means is that we are drilling pilot holes down the dip of the vein and using our imaging tool to identify the mineralized zone. Then, we are using a large diameter drill with a one meter cutting head to follow the pilot hole and excavate the material. After extraction, we backfill the holes with tailings from Anaconda’s tailings facility and cement to reclaim the site. We can say with confidence that the concept and technology work.

The aim of the trial is to demonstrate the value of our process and technology to the mining industry. We have a low cost and environmentally friendly method, which enables customers to access ore bodies which cannot be accessed through conventional methods. Another benefit is the free cash flow that you can generate at a higher return and a lower risk profile.

How will Novamera’s processes impact the Anaconda site and optimize the project?

Based on what we are seeing, there is potential to mine the Romeo and Juliet deposit, but it will be up to Anaconda if it wants to develop the deposit into a mine. Anaconda’s Point Rousse project is a classic example of how our technology can bring meaningful incremental production to a site that already has the infrastructure in place. Anaconda has been mining about 15,000 to 20,000 oz/y Au for about a decade. The Romeo and Juliet deposit is a small-scale deposit that cannot be mined using conventional methods. By using SMD, Anaconda can add low cost production, leverage the existing infrastructure and generate significant profits. In addition, SMD can help Anaconda extend the life of the Point Rousse project.

If the SMD solution is taken to scale, how can it impact the future of mining?

The low hanging fruit in mining is getting depleted and it is much harder to find quality deposits, especially at surface. Many mining companies are starting to go deeper, but with a lot more costs and risks involved. There are still a significant number of deposits that are near surface and part of the mineral resource portfolio of a company, but which cannot be mined with conventional methods. Novamera is effectively enabling companies to unlock these mineral resources through our cost-effective, more precise, and minimally invasive method of mining. We are unlocking value in opportunities at or near surface, within 300 m, which were ignored before as they did not fit with conventional mining methods. We are encouraging companies to think differently about small-scale mining and are helping them to maximize the value of their projects. We are not only selling a mining method, but clients also have the ability to use our imaging tool in an exploration capacity. Our goal is to make SMD mainstream. It will be the sustainable, highly economic solution for small scale, high grade narrow vein mining.

What is Novamera’s financial plan moving forward?

Novamera is fully funded until late spring 2023. These funds include the C$5 million raised in July 2021, Atlantic Canada Opportunities Agency funding, and a Sustainable Development Technology Canada (SDTC) grant for approximately C$3 million we obtained in February 2021. The bulk of these funds will be used during the field trial, but also for business development and improving our technology through the learnings of the field trial. We will again start a capital raise in the latter part of 2022, ideally closing by the spring of 2023.

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Industry Thoughts: Paving the Way for ESG Reporting