Author: admin

Terra Balcanica Completes Phase II Drilling at Viogor-Zanik Project in Bosnia and Closes Private Placement Financing

Post author By admin
Post date September 25, 2023

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the final tranche of its non-brokered private placement financing (the “Offering”) of units (the ”Units”) for total gross proceeds of $1,212,778. The Company further announces that it has completed the 2,000 m, Phase II drill program at the flagship, 216 km² Viogor-Zanik project (the “Project”) in eastern Bosnia and Herzegovina.

Highlights

In total, 17 diamond drill holes were completed during the 2023 Phase II campaign totalling approximately 2,000 m with a significant number of them macroscopically exhibiting sulphide mineralization. Twelve drill holes were completed at the polymetallic silver-lead-zinc Cumavici target while 5 holes were drilled at the Au-Cu, skarn-porphyry Brezani target (see Figures 1 and 2). All drill holes are at the ALS laboratory in Serbia with assays expected by the beginning of October;
Terra has raised $1,212,778 pursuant to the Offering announced on April 4^th, 2023.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “The conclusion of exploration drilling perfectly coincided with the closing of the private placement financing. I am proud of the field efforts made by the entire team Terra Balcanica but equally thankful to all those who helped raise the funds needed to advance our key assets in Bosnia and Serbia. Having finalized an oversubscribed financing of over $1.2M in such a challenging macroeconomic environment is a positive signal and has allowed us to complete a robust, 17-hole 2,000-meter Phase II drill program and materially advance the flagship Viogor-Zanik project. The composite drill core samples are now awaiting laboratory completion and an internal QA/QC check before being released as a part of Terra’s steady news flow for months to come.”

Drilling Brezani Target Completed
The 2023 diamond drilling at the Brezani target focussed on testing the coincident magnetic-conductivity anomaly at depth below the Au-skarn mineralisation observed on surface. Further shallow drillholes BRE23001-004 aimed to add scale to the initial 88 m at 0.61 g/t AuEq intercepted in drillhole BREDD002 (See Company’s news release dated 24^th January 2023), all within a > 800 m NW/SE trending Au in soil anomaly.

Drillhole BREDD002: Continued from a depth of 215 m to 674 m in 2023 commencing in the same chlorite-sericite altered diorite which returned 0.26 g/t Au (214 – 215 m) in 2022 drilling. At a depth of 482.1 m a 9.8 m continuous zone of banded vein and sulphide cemented breccias with characteristics of both low and intermediate sulphidation epithermal deposits was intersected. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite. The centre of the structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments and wall rock hornfels. In the vein footwall the lithology changed to 118.4 m of chlorite-sericite altered diorite porphyry intrusive. Sinuous quartz-pyrite-molybdenite veins, quartz-magnetite, anhydrite-carbonate, pyrite-chlorite, and pyrrhotite-carbonate veining is present alongside disseminated pyrite-pyrrhotite.

Drillhole BRE23001: Located 102 m SW of the initial discovery hole at Brezani, which returned 0.61 g/t AuEq over 88 m from surface BRE23001 intercepted a similar package of calc-silicate mineralisation with a strong chlorite retrograde overprint. Intervals of coarse garnet-pyroxene skarn were also intercepted in contact with dioritic intrusives.

Figure 1. Geological map illustrating the 2022 and 2023 drillholes at the silver-dominated, polymetallic Cumavici Ridge target 12 km northwest from the Brezani target (c lick here to view image).

Drillhole BRE23002: Located 91 m west of BREDD002 intersected a new style of mineralization for the Brezani target. Commencing at 98 m depth a sulphide-calcite cemented contact breccia between altered diorite and silicic hornfels was encountered. The sulphide matrix was composed of pyrite-sphalerite-galena-pyrrhotite-chalcopyrite with individual sphalerite crystals up to 3 cm. The breccia was semi-continuous until 105.2m where it graded into patchy brecciation and intermediate sulphidation veining to 117.6 m. Detailed observations of BRE23001-004 will be completed and updates released in due course.

Figure 2. Geological map illustrating the 2022 and 2023 drillholes into the Brezani skarn-porphyry target. Note that the 2022 drillhole, BREDD002 was redrilled from 215 – 674 m during the 2023 drilling campaign. (c lick here to view image).

Final Tranche of Private Placement Financing Closed
The Company issued an aggregate of 1,826,470 Units at a price of $0.085 per Unit for gross proceeds of $155,250 pursuant to the Offering announced on April 4^th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until September 22^nd, 2026. Finders’ fees in the amount of $3,570 were paid in the final tranche of the Offering.

In total, the Company has issued 14,267,967 units at a price of $0.085 for gross proceeds of $1,212,778. Terra used the net proceeds of the Offering for working capital and to finance the Phase II drilling of the two target zones in Bosnia and Herzegovina.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the fifth tranche of the Private Placement will be subject to a four (4) month hold period ending January 23^rd, 2024.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

Junior Mining Precious Metals

West Red Lake Gold Strengthens Management Team

Post author By admin
Post date September 25, 2023

Rowan and Madsen Project Location Map

VANCOUVER, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd. (“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV:WRLG) (OTCQB: WRLGF) is pleased to announce the appointment of Harpreet Dhaliwal to the position of Chief Financial Officer effective November 15, 2023.

Shane Williams, President & Chief Executive Officer, commented, “On behalf of entire West Red Lake Gold team, I would like to welcome Harpreet to the organization, and we are delighted to have someone of Harpreet’s caliber join the team. Harpreet’s experience in the mining industry in the CFO role is well established, and she joins West Red Lake Gold at an exciting time in the Company’s stage of development.”

Harpreet Dhaliwal, CPA, CA, is a highly regarded and accomplished financial executive with 16 years of extensive experience in the resource sector. A graduate of The University of British Columbia, Ms. Dhaliwal commenced her career in the public accounting field before transitioning to the resource sector working with Uranium One Inc., American Bonanza Gold Corp., Endeavour Mining Corp., Fiore Management & Advisory Corp and Leagold Mining Corp.

Most recently, Ms. Dhaliwal served as the Chief Financial Officer at NexGen Energy Ltd. Ms. Dhaliwal was responsible for implementing controls across the organization which led to NexGen’s successful inaugural SOX compliance reporting. She successfully led the filing of the $500M Base Shelf Prospectus and the $250M At-the-Market Equity Program and ensured compliance on all listed exchanges including Toronto Stock Exchange, New York Stock Exchange and Australian Securities Exchange. She was also responsible for the implementation of an ERP system, maintaining the Company’s IT infrastructure, and working with the project teams on delivering effective budgeting, forecasting and management reporting.

At her previous role at Leagold Mining Corp as CFO, she was responsible for the design and implementation of financial and management reporting, treasury, and working with the operations and project teams on developing budgets and forecasts for multiple producing multi-jurisdictional mines. She was a valuable member of a team that successfully completed numerous mergers and acquisitions supported by debt and equity financings and led integrated lean and efficient finance teams.

The Company would like to thank current CFO & Corporate Secretary, Jasvir Kaloti for her continued dedication and contributions. Jasvir Kaloti will remain as the Corporate Secretary following the appointment of Harpreet Dhaliwal as CFO on November 15, 2023.

The Company further announces that it has entered into an agreement dated September 14, 2023 to issue 50,000 common shares (the “Debt Shares”) of the Company at a deemed price of $0.60 per Debt Share in settlement of $30,000 of amounts owing to an arm’s length creditor. The issuance of the Debt Shares is subject to the prior approval of the TSX Venture Exchange.

ABOUT WEST RED LAKE GOLD MINES LTD.

West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km² highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km² including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.

ON BEHALF OF WEST RED LAKE GOLD MINES LTD.

“Shane Williams”

Shane Williams
President & Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: investors@westredlakegold.com or visit the Company’s website at https://www.westredlakegold.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this news release constitute “forward-looking statements”, including, among others, statements relating to expectations regarding the appointment of Harpreet Dhaliwal, and the issuance of the Debt Shares in settlement of certain accounts payable. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8a4c4f83-4230-4299-9acc-c12ff6f10f82

Base Metals Energy Junior Mining Precious Metals

West Red Lake Gold (WRLG.V) CEO Message Part 3: Existing Infrastructure at the Madsen Mine

Post author By admin
Post date September 19, 2023

vancouver, British Columbia –News Direct– West Red Lake Gold Mines Ltd.

September 19, 2023 – TheNewswire – Global Stocks News – West Red Lake Gold Mines (TSXV:WRLG) (OTC:WRLGF) CEO Shane Williams has sent part three of seven communications to WRLG shareholders.

CEO Message Part 3: Existing Infrastructure at West Red Lake Gold Mines

By Shane Williams

Thank you for your interest in West Red Lake Gold Mines (WRLG.V). This is the Part 3 of seven messages I am sending to WRLG shareholders. Today I want to discuss the existing infrastructure at the Madsen mine.

In mining circles, “existing infrastructure” can mean a logging road, a plywood core-shack, a rusted ball mill or a capsized Porta-potty.

The West Red Lake Gold Mines’ situation is a bit different. We inherited a modern, fully permitted, virtually-unused mining facility which includes underground equipment, double ramp access, a 1,273-metre-deep shaft, expandable 800+ tonne per day mill, excess tailings capacity and a water treatment plant. [1.}

The mill achieves 95% gold recovery [2}. The tailings pond and water treatment are regularly inspected and pass with flying colours. Last month I was on site with the Ontario Minister of Mines – a former executive at Placer Dome. He is very supportive of the project.

It’s difficult to put an exact price tag (value) on the existing infrastructure. The mill itself cost approximately $100 million. With rampant inflation in construction, the replacement cost would be significantly higher. But the biggest benefit of the permitted existing infrastructure is the effect on production timelines.

The permitting process can take ten years.

We have challenges to overcome, but in my opinion, the modern, debt-free, permitted infrastructure has significantly de-risked this project.

Next in Part 4 of my message to shareholders, I will tell you about the resource expansion potential at Madsen.

Sincerely,

Shane Williams

We invite you to click here to learn more about our West Red Lake Gold Mines

The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.

Certain statements contained in this news release constitute “forward-looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.

References

SRK Consulting. (2021). Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada (West Red Lake Gold Mines, Ed.) [Review of Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada]. SRK Consulting. https://westredlakegold.com/wp-content/uploads/2023/07/NI43-101_Madsen_Report_Update_v20230619.pdf
Pure Gold Mining Inc. “PureGold Achieves Third Quarter Gold Production Guidance and Announces Fourth Quarter Outlook.” GlobeNewswire News Room, 6 Oct. 2022, www.globenewswire.com/news-release/2022/10/06/2529302/0/en/PureGold-Achieves-Third-Quarter-Gold-Production-Guidance-and-Announces-Fourth-Quarter-Outlook.html

Frank Giustra – who owns about 10% of WRLG was recently on stage at the Precious Metals Summit in Beaver Creek, Colorado.

“Never listen to what a central bank has to say,” Giustra stated on a panel hosted by The Northen Miner. “Watch what they do. And right now, they’re screaming, buy gold. They’re loading up. And it is my belief they’re loading up because there will be a monetary system reset that we don’t know what it looks like yet. But gold will play a role, otherwise they wouldn’t be loading up this way.”

guy.bennett@globalstocksnews.com

Full Disclaimer

View source version on newsdirect.com: https://newsdirect.com/news/west-red-lake-gold-wrlg-v-ceo-message-part-3-existing-infrastructure-at-the-madsen-mine-411227976

Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Provides Update on Expansion Drilling at La Plata Copper-Silver-Gold-PGE Project in Southwest Colorado, USA

Post author By admin
Post date September 14, 2023

VANCOUVER, BC / ACCESSWIRE / September 14, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to provide an update on drilling at the La Plata copper-silver-gold-PGE project. The first phase of the 2023 campaign is testing extensions of high-grade mineralization seen in 2022 drill hole LAP22-04, which intercepted 816 meters of continuous mineralization grading 0.41% copper equivalent (“Cu Eq”) with internal higher-grade zones. The hole ended in high-grade precious metal-rich mineralization grading 11.54% Cu Eq over 0.61 meters (5.42% Cu, 47.0 g/t Ag, 0.622 g/t Au, 5.016 g/t Pt and 5.393 g/t Pt).

Highlights

Over 2,000 meters of a planned 5,000-meter Phase 1 drill program designed to expand the existing resource have been completed.
Hole LAP23-05 was completed to a depth of 909 meters, while hole LAP23-06 is ongoing at a depth of approximately 1,150 meters. Both these 2023 drill holes have intersected altered porphyry mineralization with visible copper sulfide including chalcopyrite and bornite similar to that seen in LAP22-04 (see Figure 1-2).
Initial assay results are expected in the coming weeks and continuing into early 2024.
Results of the 2023 drilling have potential to expand the size of the current resource and increase the overall grade of the deposit with the inclusion of precious metals assays for gold, platinum and palladium in addition to copper and silver in the current resource.
Metallic Minerals has filed a National Instrument 43-101 technical report for the expanded resource estimate announced in July 2023.
The 2023 field campaign is being funded by a strategic equity investment announced in May whereby Newcrest Mining Limited acquired a 9.5% ownership position in Metallic Minerals with the goal of accelerating advancement of the La Plata project.

Scott Petsel, Metallic Minerals’ President, stated, “The team is excited about the progress and initial indications from our current drill program at La Plata. Last year’s exceptional hole LAP22-04 was a major discovery of higher-grade copper and precious metal-rich, porphyry-style, mineralization starting from surface. These first two drill holes are offset holes drilled above and below LAP22-04 to test extensions of mineralization away from that discovery hole to potentially expand the resource and test the scale of size of this higher-grade zone of mineralization. The results of this program are expected to form the basis of an updated resource estimate. This program will also assist in vectoring to the strongest parts of the mineralized system as we work to maximize the opportunity to advance this potential Tier 1 asset.”

The Allard deposit remains open to significant expansion within the resource area to the east, north and west and to depth, with the potential to add gold, platinum and palladium to the current copper and silver resource with the completion of additional exploration drilling. In addition, the larger porphyry system at the La Plata project, which covers an area of over 10 km², remains underexplored with the potential for new discoveries of both additional copper porphyry centers, as well as high-grade epithermal silver and gold systems.

Upcoming Events

Precious Metals Summit Presentation

Metallic Minerals CEO, Greg Johnson, will be presenting live from the 2023 Precious Metals Summit in Beaver Creek, Colorado, on September 14^th at 4:30 pm Mountain time. Click here to view the presentation.

Adelaide Capital Presentation

Metallic, as well as fellow Metallic Group members Stillwater Critical Minerals and Granite Creek Copper, will be presenting at the Wildfire Relief series hosted by Adelaide Capital on September 22nd at 3:30 ET. Click here to register.

121 Investment Conference

Metallic Minerals will be participating in 1-1 meetings at 121 Global Online September 26^th & 27^th. Find registration information here.

Figure 1. Cross Section Through Allard Resource Area Showing New 2023 Drill Holes

Figure 2. Photograph from Hole LAP23-06, 480.0m to 489.0m – High Quartz-Sulfide Vein Density in Altered Syenite.

Corporate Update

Metallic Minerals announces that Susan Henderson has been appointed to the role of Corporate Secretary, effective immediately. Ms. Henderson has worked in expanding roles with the Company since 2016, most recently in the role of Business Manager. Ms. Henderson replaces Alicia Milne who has stepped down. Ms. Milne will continue as a consultant to the Company.

Greg Johnson, CEO of Metallic Minerals, stated, “We very much appreciate Alicia’s exceptional work and dedication as Corporate Secretary over the past years and we wish her continued success in her new venture. Susan has been an integral part of the Metallic Group since its inception and invaluable in enabling our growth and expansion. We are very pleased to further expand her role to that of Corporate Secretary.”

NI 43-101 Technical Report

Further to the news release dated July 31, 2023, Metallic Minerals has filed a National Instrument 43-101 technical report, entitled, “Technical Report on the Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Southwestern Colorado” with an effective date of July 12^th, 2023. The report is available on the Company’s profile at www.sedar.com and on our website at www.metallic-minerals.com

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company focused on copper, silver, gold, and other critical minerals in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

At the Company’s La Plata project in southwestern Colorado, the new 2023 NI 43-101 mineral resource estimate identifies a significant porphyry copper-silver resource containing 1.21 Blbs copper and 17.6 Moz of silver¹. The 2022 expansion drilling provided the basis for the updated resource, including the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited to accelerate the advancement of the Company’s La Plata project. In the 2023 Fraser Institute’s Annual Survey of Mining Companies, Colorado ranked 5th globally for investment attractiveness and 2nd in the USA.

In Canada’s Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining Company’s (“Hecla”) operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla, the largest primary silver producer in the USA and third largest in the world, is anticipating full production at its Keno Hill operations by the end of 2023. An inaugural mineral resource estimate on the project is expected in Q4 2023, with an expansion drill program slated to commence in September.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators, including Parker Schnabel of Little Flake Mining from the Discovery Channel television show, Gold Rush.

All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. The Company is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.metallic-minerals.com Phone: 604-629-7800
Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

Footnotes:

See news release dated July 31, 2023: https://mmgsilver.com/news/2023/metallic-minerals-expands-resource-at-la-plata-copper-silver-gold-pge-project-in-southwestern-colorado-usa/

Qualified Persons

Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure not pertaining to the resource estimate contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.

Forward-Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals 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 or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

SOURCE: Metallic Minerals Corp.

Energy Junior Mining Lion One Metals Precious Metals

Lion One Reports New High-grade Gold Results at Tuvatu

Post author By admin
Post date September 14, 2023

North Vancouver, British Columbia–(Newsfile Corp. – September 14, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Assay results are presented here for grade control drilling completed in the Zone 2 area of Tuvatu, focusing primarily on the URW1, URA1 and Murau lode systems. Mining of the URA1 lode and the URW1 lode system is ongoing and grade control drilling is being conducted in advance of future mining in these areas (see news releases dated April 3, 2023 and May 18, 2023). The results reported here represent material that is scheduled to be mined in Q4 2023 and throughout 2024.

Lion One Chairman and CEO Walter Berukoff commented: “The results from our grade control drill program continue to exceed expectations. The program is continuously returning very high-grade material with excellent mining widths. As we increase our drill density at Tuvatu we continue to identify very high-grade zones upon which to focus and prioritize our mining plan, and which will help us to add additional tonnage to our growing stockpile of high-grade material as we ramp up to our first gold production in Q4 2023”.

Highlights of new Zone 2 grade control drilling (3 g/t Au cutoff):

19.78 g/t Au over 6.0 m (including 31.52 g/t Au over 3.0 m) (TGC-0071, from 114.0 m depth)
14.83 g/t Au over 6.0 m (including 25.16 g/t Au over 2.4 m) (TGC-0055, from 90.9 m depth)
18.08 g/t Au over 3.6 m (including 32.74 g/t Au over 1.5 m) (TGC-0073, from 90.0 m depth)
25.25 g/t Au over 2.4 m (including 149.63 g/t Au over 0.3 m) (TGC-0078, from 95.2 m depth)
45.89 g/t Au over 0.9 m (TGC-0080, from 23.4 m depth)
8.00 g/t Au over 4.8 m (including 21.05 g/t Au over 0.9 m) (TGC-0080, from 47.4 m depth)
8.52 g/t Au over 3.3 m (including 11.16 g/t Au over 1.8 m) (TGC-0053, from 13.8 m depth)
17.73 g/t Au over 1.5 m (including 20.98 g/t Au over 0.9 m) (TGC-0053, from 56.4 m depth)
14.13 g/t Au over 1.8 m (including 18.64 g/t Au over 1.2 m) (TGC-0062, from 67.5 m depth)

Note: Grade control drillhole composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at < 3 g/t Au.

Figure 1. Location of Zone 2 Grade Control Drillholes. Left image: Plan view of Tuvatu showing Zone 2 grade control drillholes in relation to the mineralized lodes. Drillholes are shown in black, mineralized lodes in pale grey, and underground developments in red. The yellow dashed circle represents the Zone 2 area of the deposit.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/180547_95d72b17646f4852_001full.jpg

Table 1. Highlights of composited grade control drill results in the Zone 2 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 2 in the appendix. For full results using a 0.5 g/t cutoff see Table 3 in the appendix.

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0053		13.8	17.1	3.3	8.52
	including	16.2	17.1	0.9	15.89
TGC-0053		56.4	57.9	1.5	17.73
	including	56.4	57.3	0.9	20.98
	and	57.3	57.9	0.6	12.86
TGC-0055		87	87.3	0.3	17.86
TGC-0055		90.9	96.9	6	14.83
	including	90.9	92.7	1.8	12.22
	which includes	90.9	91.5	0.6	10.93
	and	91.5	91.8	0.3	23.82
	and	91.8	92.7	0.9	9.22
	and also including	94.5	96.9	2.4	25.16
	which includes	94.5	95.4	0.9	35.76
	and	95.4	96	0.6	10.87
	and	96	96.3	0.3	30.26
	and	96.3	96.9	0.6	20.98
TGC-0057		89.4	91.2	1.8	9.22
	including	89.4	89.7	0.3	19.23
TGC-0057		113.7	115.2	1.5	10.84
	including	114.3	115.2	0.9	15.86
TGC-0060		76.1	76.4	0.3	25.43
TGC-0062		67.5	69.3	1.8	14.13
	including	68.1	68.7	0.6	15.29
	and	68.7	69.3	0.6	21.99
TGC-0064		182.9	183.5	0.6	33.08
	including	182.9	183.2	0.3	58.29
TGC-0066		163.5	163.8	0.3	12.85
TGC-0070		71.2	71.8	0.6	25.89
TGC-0071		114	120	6	19.78
	including	114	114.3	0.3	30.17
	and	114.3	114.9	0.6	8.32
	and	115.5	115.8	0.3	10.68
	and	115.8	116.4	0.6	9.96
	and	117	120	3	31.52
	which includes	117	117.6	0.6	33.78
	and	117.6	118.5	0.9	20.88
	and	118.5	119.4	0.9	42.75
	and	119.4	120	0.6	28.35
TGC-0073		79.8	81.3	1.5	7.91
	including	79.8	80.4	0.6	10.8
	and	80.4	80.7	0.3	10.95
TGC-0073		87.9	88.2	0.3	10.85
TGC-0073		90	93.6	3.6	18.08
	including	90	90.3	0.3	8.41
	and	90.3	90.6	0.3	21.79
	and	90.9	92.4	1.5	32.74
	which includes	90.9	91.2	0.3	65.52
	and	91.2	91.5	0.3	38.81
	and	91.5	91.8	0.3	43.67
	and	91.8	92.4	0.6	7.86
TGC-0074		80.8	81.4	0.6	41.5
	including	80.8	81.1	0.3	35.63
	and	81.1	81.4	0.3	47.38
TGC-0074		118.9	120.1	1.2	11.65
	including	118.9	119.2	0.3	10.48
	and	119.2	119.5	0.3	14.96
	and	119.5	119.8	0.3	10.75
	and	119.8	120.1	0.3	10.41
TGC-0078		14.5	14.8	0.3	18.52
TGC-0078		91.9	92.5	0.6	20.13
TGC-0078		95.2	97.6	2.4	25.25
	including	95.2	95.5	0.3	149.63
	and	96.1	97.6	1.5	9.28
	which includes	96.1	97	0.9	11.85
TGC-0080		21	22.2	1.2	11.67
	and	21.6	21.9	0.3	35.67
TGC-0080		23.4	24.3	0.9	45.89
TGC-0080		47.4	52.2	4.8	8
	including	48.3	48.6	0.3	18.03
	and	48.6	48.9	0.3	17.95
	and	49.8	50.7	0.9	21.05
	which includes	49.8	50.1	0.3	42.72
	and	50.1	50.4	0.3	15.08
TGC-0082		15.5	16.7	1.2	16.96
	including	16.1	16.7	0.6	29.06
	which includes	16.1	16.4	0.3	34.23
	and	16.4	16.7	0.3	23.89
TGC-0083		19.7	20	0.3	10.79
TGC-0083		43.7	45.2	0.6	11.32
	including	43.7	44	0.3	10.41
	and	44.9	45.2	0.3	12.23
TGC-0083		56.9	57.2	0.3	10.7
TGC-0083		65	65.6	0.6	25.12
	including	65	65.3	0.3	18.58
	and	65.3	65.6	0.3	31.67

Zone 2

The Zone 2 area of Tuvatu is located in the northwest part of the system along the western decline. It is the first part of the deposit scheduled for mining and encompasses a number of distinct lode systems, including the URW1, URA1, and Murau lode systems.

The URW1 lode system was the primary target for the current round of drilling. It consists predominantly of narrow, high-grade to locally bonanza-grade vein arrays and vein swarms that strike approximately N-S and dip sub-vertically to steeply east. Current modelling suggests that there are multiple separate lodes within the URW1 lode system. The first two of these lodes, URW1a and URW1b, are currently being mined. As reported on July 13, 2023 and July 27, 2023, mineralization in these lodes is both higher grade and more laterally extensive than initially anticipated. Grade control drilling in the URW1 area is targeting the up-dip and down-dip extensions of these lodes, 20 m to 40 m above and below the current mine drives. The URW1 lode system has a current strike length of approximately 300 m in the N-S direction, and a vertical extent of approximately 300 m.

Similarly, the URA1 lode is a narrow, steeply dipping, high-grade to locally bonanza-grade vein system. It was discovered during the development of the western decline and is intersected by the decline at approximately 75 m from the portal entrance. It trends approximately northeast-southwest and dips steeply to the southeast. It has a current strike length of approximately 100 m, and a vertical extent of approximately 120 m.

Figure 2. URA1 Lode and URW1 Lode System. Plan view (top) and view looking north (bottom) of the URA1 lode and the URW1 lode system in relation to the grade control holes reported here. Mining is ongoing in the URA1 lode (shown in purple) and the URW1a and URW1b lodes (shown in light brown). Additional lodes included in the URW1 lode system are shown in blue. Grade control drilling is targeting the up-dip and down-dip extensions of these lodes, focusing primarily on the URW1a and URW1b lodes, as evident in the bottom image.

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The Murau lode system consists of a series of stacked relatively flat lying lodes that strike approximately east-west and dip moderately to the south. Mining is scheduled to begin on the upper part of the Murau lode system in Q4 2023. The portion of the Murau lode system that is currently targeted for mining consists of a 110 m strike length in the east-west direction, a vertical extent of 55 m, and a down-dip extension of 100 m.

Figure 3. Murau Lode System. Plan view (left) and view looking east (right) of the Murau lode system in relation to the grade control drillholes reported here. Mining on the upper part of the Murau lode system is scheduled to start in Q4 2023. The stacked nature of the Murau lodes and their moderate dip to the south is visible in the right-hand image.

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Grade Control Drilling

Figure 4. Location of High-Grade Intercepts from Zone 2 Grade Control Drilling, 3.0 g/t Au cutoff. Plan view (top) and view looking north (bottom) of the URA1 lode, the URW1 lode system, and the Murau lode system in relation to the grade control drillholes reported here, with high-grade intercepts highlighted. Downhole composite intervals with grades between 3 and 10 g/t Au are shown in orange, intervals with grades between 10 and 30 g/t Au are shown in red, and intervals over 30 g/t Au are shown in purple. Select high-grade intervals are identified. Grades shown are gold grades in g/t. Underground developments are shown in pale transparent grey to increase visibility of the mineralized intervals.

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Grade control drilling is being conducted from underground as well as from near the mine portal and is targeting near surface mineralization scheduled for mining in the next four to sixteen months. It is targeting 5-10 m centers and is designed to provide a detailed understanding of the geometry and mineralization of lode arrays in advance of underground development. Results from the grade control drill program will be used to help optimize mine development and mineral extraction in these areas. The Zone 2 grade control drill program is ongoing. Examples of mineralization observed in the Zone 2 drillholes reported here are shown in Figure 5.

A total of 83 grade control drillholes have been completed to date in the Zone 2 and Zone 5 areas at Tuvatu, including 24 grade control drillholes included in this news release. Previous grade control drill results are available in the news releases dated April 25, 2023 and June 14, 2023.

Figure 5. Example Mineralization from Zone 2 Grade Control Drilling. Left: Monzonite-hosted chalcedonic silica veins with abundant coarse grained honey sphalerite rimmed by fine-grained sooty pyrite (TGC-0064, 182.9-183.2 m) Width of core is 4.76 cm. Top center: Banded silica-roscoelite-pyrite vein with visible gold (TGC-0076, 89.7-90.0 m) Width of image is approximately 2 cm. Top right: Fracture face coated with silica, sphalerite, pyrite, and multiple grains of visible gold (TGC-0073, 91.5-91.8 m). Core diameter is 4.76 cm. Bottom right: Monzonite-hosted quartz veinlet with visible gold (TGC-0073, 90.3-90.6 m). Width of image is approximately 3 cm. Bottom center: Monzonite-hosted quartz veinlet with multiple flecks of visible gold (TGC-0083, 56.9-57.2 m). Width of image is approximately 3 cm.

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About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedarplus.ca.

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“, Chairman and CEO

Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

Table 2. Composited results from grade control drillholes in the Zone 2 area, 3.0 g/t Au cutoff

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0053		13.8	17.1	3.3	8.52
TGC-0053	including	13.8	14.7	0.9	6.47
TGC-0053	and	15.3	16.2	0.9	6.43
TGC-0053	and	16.2	17.1	0.9	15.89
TGC-0053		56.4	57.9	1.5	17.73
TGC-0053	including	56.4	57.3	0.9	20.98
TGC-0053	and	57.3	57.9	0.6	12.86
TGC-0053		61.8	62.4	0.6	3.61
TGC-0053		67.5	71.7	4.2	3.87
TGC-0053	including	69	69.6	0.6	5.35
TGC-0053	and	69.6	70.2	0.6	5.89
TGC-0053	and	70.2	70.8	0.6	5.51
TGC-0053	and	71.4	71.7	0.3	5.07
TGC-0053		72.3	75.6	3.3	5.11
TGC-0053	including	72.3	72.6	0.3	5.39
TGC-0053	and	74.4	74.7	0.3	8.54
TGC-0053	and	74.7	75	0.3	7.24
TGC-0053	and	75	75.6	0.6	8.69
TGC-0054		82.8	83.4	0.6	4.92
TGC-0054		90.3	90.6	0.3	7.71
TGC-0055		13.2	13.8	0.6	8.21
TGC-0055		87	87.3	0.3	17.86
TGC-0055		90.9	96.9	6	14.83
TGC-0055	including	90.9	92.7	1.8	12.22
TGC-0055	which includes	90.9	91.5	0.6	10.93
TGC-0055	and	91.5	91.8	0.3	23.82
TGC-0055	and	91.8	92.7	0.9	9.22
TGC-0055	and also including	93.3	93.9	0.6	8.52
TGC-0055	and also including	94.5	96.9	2.4	25.16
TGC-0055	which includes	94.5	95.4	0.9	35.76
TGC-0055	and	95.4	96	0.6	10.87
TGC-0055	and	96	96.3	0.3	30.26
TGC-0055	and	96.3	96.9	0.6	20.98
TGC-0055		108	108.6	0.6	6.17
TGC-0057		11.4	12.6	1.2	3.4
TGC-0057		85.8	86.1	0.3	7.28
TGC-0057		89.4	91.2	1.8	9.22
TGC-0057	including	89.4	89.7	0.3	19.23
TGC-0057	and	89.7	90	0.3	5.34
TGC-0057	and	90	90.6	0.6	7.4
TGC-0057	and	90.6	91.2	0.6	7.98
TGC-0057		113.7	115.2	1.5	10.84
TGC-0057	including	114.3	115.2	0.9	15.86
TGC-0057		116.7	118.8	2.1	6.23
TGC-0057	including	116.7	117.6	0.9	8.19
TGC-0057	and	117.9	118.8	0.9	5.42
TGC-0060		76.1	76.4	0.3	25.43
TGC-0062		67.5	69.3	1.8	14.13
TGC-0062	including	67.5	68.1	0.6	5.11
TGC-0062	and	68.1	68.7	0.6	15.29
TGC-0062	and	68.7	69.3	0.6	21.99
TGC-0062		70.5	71.1	0.6	3.47
TGC-0064		182.9	183.5	0.6	33.08
TGC-0064	including	182.9	183.2	0.3	58.29
TGC-0064	and	183.2	183.5	0.3	7.88
TGC-0064		185.3	185.6	0.3	8.07
TGC-0066		163.5	164.1	0.6	8.62
TGC-0066	including	163.5	163.8	0.3	12.85
TGC-0070		71.2	71.8	0.6	25.89
TGC-0070		78.4	79	0.6	4.4
TGC-0070		82.9	83.5	0.6	3.94
TGC-0071		95.4	96	0.6	8.24
TGC-0071		114	120	6	19.78
TGC-0071	including	114	114.3	0.3	30.17
TGC-0071	and	114.3	114.9	0.6	8.32
TGC-0071	and	115.5	115.8	0.3	10.68
TGC-0071	and	115.8	116.4	0.6	9.96
TGC-0071	and	117	120	3	31.52
TGC-0071	which includes	117	117.6	0.6	33.78
TGC-0071	and	117.6	118.5	0.9	20.88
TGC-0071	and	118.5	119.4	0.9	42.75
TGC-0071	and	119.4	120	0.6	28.35
TGC-0071		157.2	157.8	0.6	5.57
TGC-0072		74.4	75	0.6	4.46
TGC-0073		79.8	81.3	1.5	7.91
TGC-0073	including	79.8	80.4	0.6	10.8
TGC-0073	and	80.4	80.7	0.3	10.95
TGC-0073		87.9	88.2	0.3	10.85
TGC-0073		90	93.6	3.6	18.08
TGC-0073	including	90	90.3	0.3	8.41
TGC-0073	and	90.3	90.6	0.3	21.79
TGC-0073	and	90.9	92.4	1.5	32.74
TGC-0073	which includes	90.9	91.2	0.3	65.52
TGC-0073	and	91.2	91.5	0.3	38.81
TGC-0073	and	91.5	91.8	0.3	43.67
TGC-0073	and	91.8	92.4	0.6	7.86
TGC-0073	and also including	93	93.6	0.6	6.49
TGC-0073		106.8	107.1	0.3	3.02
TGC-0074		13	13.3	0.3	4.43
TGC-0074		80.8	81.4	0.6	41.5
TGC-0074	including	80.8	81.1	0.3	35.63
TGC-0074	and	81.1	81.4	0.3	47.38
TGC-0074		118.9	120.1	1.2	11.65
TGC-0074	including	118.9	119.2	0.3	10.48
TGC-0074	and	119.2	119.5	0.3	14.96
TGC-0074	and	119.5	119.8	0.3	10.75
TGC-0074	and	119.8	120.1	0.3	10.41
TGC-0076		89.7	90	0.3	7.23
TGC-0076		100.2	101.1	0.9	6.35
TGC-0076	including	100.2	100.5	0.3	6.35
TGC-0076	and	100.5	100.8	0.3	7.25
TGC-0076	and	100.8	101.1	0.3	5.47
TGC-0076		121.8	122.1	0.3	5.04
TGC-0078		14.5	14.8	0.3	18.52
TGC-0078		16.6	17.2	0.6	4.42
TGC-0078		87.7	88.3	0.6	3.93
TGC-0078		91.9	92.5	0.6	20.13
TGC-0078		95.2	97.6	2.4	25.25
TGC-0078	including	95.2	95.5	0.3	149.63
TGC-0078	and	96.1	97.6	1.5	9.28
TGC-0078	which includes	96.1	97	0.9	11.85
TGC-0078	and	97	97.6	0.6	5.43
TGC-0079		102.9	103.5	0.6	5.02
TGC-0080		21	22.2	1.2	11.67
TGC-0080	including	21	21.3	0.3	7.26
TGC-0080	and	21.6	21.9	0.3	35.67
TGC-0080		23.4	24.3	0.9	45.89
TGC-0080		47.4	52.2	4.8	8
TGC-0080	including	47.4	47.7	0.3	5.46
TGC-0080	and	47.7	48	0.3	8.1
TGC-0080	and	48.3	48.6	0.3	18.03
TGC-0080	and	48.6	48.9	0.3	17.95
TGC-0080	and	49.8	50.7	0.9	21.05
TGC-0080	which includes	49.8	50.1	0.3	42.72
TGC-0080	and	50.1	50.4	0.3	15.08
TGC-0080	and	50.4	50.7	0.3	5.35
TGC-0080		53.4	54.3	0.9	9.88
TGC-0082		15.5	16.7	1.2	16.96
TGC-0082	including	16.1	16.7	0.6	29.06
TGC-0082	which includes	16.1	16.4	0.3	34.23
TGC-0082	and	16.4	16.7	0.3	23.89
TGC-0082		46.7	47.6	0.9	3.01
TGC-0082		83	83.3	0.3	3.61
TGC-0083		19.7	20	0.3	10.79
TGC-0083		42.5	45.2	2.7	4.95
TGC-0083	including	42.5	43.1	0.6	5.91
TGC-0083	and	43.7	44	0.3	10.41
TGC-0083	and	44.9	45.2	0.3	12.23
TGC-0083		48.5	49.4	0.9	3.9
TGC-0083		52.4	52.7	0.3	3.42
TGC-0083		55.4	55.7	0.3	4.53
TGC-0083		56.9	57.5	0.6	7.24
TGC-0083	including	56.9	57.2	0.3	10.7
TGC-0083		65	65.6	0.6	25.12
TGC-0083	including	65	65.3	0.3	18.58
TGC-0083	and	65.3	65.6	0.3	31.67
TGC-0083		110.6	110.9	0.3	9.08

Table 3. Composited results from grade control drillholes in the Zone 2 area, 0.5 g/t Au cutoff

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0053		13.8	17.1	3.3	8.52
TGC-0053	including	13.8	14.7	0.9	6.47
TGC-0053	and	15.3	16.2	0.9	6.43
TGC-0053	and	16.2	17.1	0.9	15.89
TGC-0053		21	22.2	1.2	0.62
TGC-0053		55.2	57.9	2.7	9.96
TGC-0053	including	56.4	57.3	0.9	20.98
TGC-0053	and	57.3	57.9	0.6	12.86
TGC-0053		60.3	63.3	3	1.1
TGC-0053		66.9	76.8	9.9	3.71
TGC-0053	including	69	69.6	0.6	5.35
TGC-0053	and	69.6	70.2	0.6	5.89
TGC-0053	and	70.2	70.8	0.6	5.51
TGC-0053	and	71.4	71.7	0.3	5.07
TGC-0053	and	72.3	72.6	0.3	5.39
TGC-0053	and	74.4	74.7	0.3	8.54
TGC-0053	and	74.7	75	0.3	7.24
TGC-0053	and	75	75.6	0.6	8.69
TGC-0053		93.9	96	2.1	1.07
TGC-0053		99	100.2	1.2	1.36
TGC-0054		82.8	83.4	0.6	4.92
TGC-0054		90	90.6	0.6	4.95
TGC-0054	including	90.3	90.6	0.3	7.71
TGC-0054		93.9	94.5	0.6	1.98
TGC-0054		96.3	97.8	1.5	1.17
TGC-0055		13.2	13.8	0.6	8.21
TGC-0055		87	87.3	0.3	17.86
TGC-0055		90.9	96.9	6	14.83
TGC-0055	including	90.9	92.7	1.8	12.22
TGC-0055	which includes	90.9	91.5	0.6	10.93
TGC-0055	and	91.5	91.8	0.3	23.82
TGC-0055	and	91.8	92.7	0.9	9.22
TGC-0055	and also including	93.3	93.9	0.6	8.52
TGC-0055	and also including	94.5	96.9	2.4	25.16
TGC-0055	which includes	94.5	95.4	0.9	35.76
TGC-0055	and	95.4	96	0.6	10.87
TGC-0055	and	96	96.3	0.3	30.26
TGC-0055	and	96.3	96.9	0.6	20.98
TGC-0055		99	100.2	1.2	0.85
TGC-0055		108	108.6	0.6	6.17
TGC-0055		117.9	118.2	0.3	2.13
TGC-0057		11.4	12.6	1.2	3.4
TGC-0057		80.4	82.8	2.4	0.76
TGC-0057		85.8	86.4	0.6	4.25
TGC-0057		87.9	93	5.1	3.66
TGC-0057	including	89.4	91.2	1.8	9.22
TGC-0057	which includes	89.4	89.7	0.3	19.23
TGC-0057	and	89.7	90	0.3	5.34
TGC-0057	and	90	90.6	0.6	7.4
TGC-0057	and	90.6	91.2	0.6	7.98
TGC-0057		106.5	107.4	0.9	0.64
TGC-0057		113.7	118.8	5.1	6.05
TGC-0057	including	114.3	115.2	0.9	15.86
TGC-0057	and	116.7	117.6	0.9	8.19
TGC-0057	and	117.9	118.8	0.9	5.42
TGC-0060		52.4	53	0.6	0.74
TGC-0060		75.5	76.7	1.2	6.97
TGC-0060	including	76.1	76.4	0.3	25.43
TGC-0060		82.4	82.7	0.3	0.65
TGC-0062		67.5	73.8	6.3	4.98
TGC-0062	including	67.5	69.3	1.8	14.13
TGC-0062	which includes	67.5	68.1	0.6	5.11
TGC-0062	and	68.1	68.7	0.6	15.29
TGC-0062	and	68.7	69.3	0.6	21.99
TGC-0064		69	69.6	0.6	1.59
TGC-0064		145.7	146.6	0.9	0.54
TGC-0064		149.9	150.8	0.9	0.51
TGC-0064		167.9	168.8	0.9	2.77
TGC-0064		174.2	174.8	0.6	0.96
TGC-0064		182.9	183.5	0.6	33.08
TGC-0064	including	182.9	183.2	0.3	58.29
TGC-0064	and	183.2	183.5	0.3	7.88
TGC-0064		185.3	185.6	0.3	8.07
TGC-0066		163.5	164.1	0.6	8.62
TGC-0066	including	163.5	163.8	0.3	12.85
TGC-0068		88.9	89.5	0.6	0.92
TGC-0068		98.6	99.2	0.6	0.73
TGC-0068		120.5	121.4	0.9	1.11
TGC-0068		172.4	175.1	2.7	0.83
TGC-0068		186.7	189.4	2.7	0.76
TGC-0068		191.2	192.7	1.5	0.57
TGC-0069		88.4	89	0.6	1.73
TGC-0070		71.2	71.8	0.6	25.89
TGC-0070		73	75.4	2.4	1.03
TGC-0070		78.4	81.1	2.7	2.23
TGC-0070		82.3	84.4	2.1	1.54
TGC-0071		95.4	96	0.6	8.24
TGC-0071		114	120.9	6.9	17.54
TGC-0071	including	114	114.3	0.3	30.17
TGC-0071	and	114.3	114.9	0.6	8.32
TGC-0071	and	115.5	115.8	0.3	10.68
TGC-0071	and	115.8	116.4	0.6	9.96
TGC-0071	and	117	120	3	31.52
TGC-0071	which includes	117	117.6	0.6	33.78
TGC-0071	and	117.6	118.5	0.9	20.88
TGC-0071	and	118.5	119.4	0.9	42.75
TGC-0071	and	119.4	120	0.6	28.35
TGC-0071		155.4	159.6	4.2	2.12
TGC-0071	including	157.2	157.8	0.6	5.57
TGC-0071		160.8	161.4	0.6	2.72
TGC-0071		201.3	202.5	1.2	1.56
TGC-0072		59.7	60.3	0.6	0.84
TGC-0072		74.4	75	0.6	4.46
TGC-0072		81.9	82.5	0.6	0.79
TGC-0072		94.5	95.1	0.6	0.9
TGC-0073		12	12.6	0.6	0.91
TGC-0073		79.8	81.3	1.5	7.91
TGC-0073	including	79.8	80.4	0.6	10.8
TGC-0073	and	80.4	80.7	0.3	10.95
TGC-0073		87.3	94.2	6.9	10.39
TGC-0073	including	87.9	88.2	0.3	10.85
TGC-0073	and	90	90.3	0.3	8.41
TGC-0073	and	90.3	90.6	0.3	21.79
TGC-0073	and	90.9	92.4	1.5	32.74
TGC-0073	which includes	90.9	91.2	0.3	65.52
TGC-0073	and	91.2	91.5	0.3	38.81
TGC-0073	and	91.5	91.8	0.3	43.67
TGC-0073	and	91.8	92.4	0.6	7.86
TGC-0073	and also including	93	93.6	0.6	6.49
TGC-0073		106.2	107.1	0.9	2.32
TGC-0074		12.7	13.3	0.6	2.71
TGC-0074		80.5	81.4	0.9	28.01
TGC-0074	including	80.8	81.4	0.6	41.51
TGC-0074	which includes	80.8	81.1	0.3	35.63
TGC-0074	and	81.1	81.4	0.3	47.38
TGC-0074		92.5	92.8	0.3	0.9
TGC-0074		118.9	120.1	1.2	11.65
TGC-0074	including	118.9	119.2	0.3	10.48
TGC-0074	and	119.2	119.5	0.3	14.96
TGC-0074	and	119.5	119.8	0.3	10.75
TGC-0074	and	119.8	120.1	0.3	10.41
TGC-0075		13.2	14.4	1.2	0.61
TGC-0075		16.2	16.8	0.6	0.6
TGC-0075		27	27.3	0.3	0.53
TGC-0075		43.5	44.4	0.9	0.93
TGC-0076		77.1	78	0.9	0.98
TGC-0076		81	81.3	0.3	1.57
TGC-0076		89.7	90	0.3	7.23
TGC-0076		93.3	93.6	0.3	0.72
TGC-0076		99.3	101.7	2.4	3.59
TGC-0076	including	100.2	100.5	0.3	6.35
TGC-0076	and	100.5	100.8	0.3	7.25
TGC-0076	and	100.8	101.1	0.3	5.47
TGC-0076		121.8	122.1	0.3	5.04
TGC-0077		15	16.5	1.5	0.92
TGC-0077		19.8	20.1	0.3	0.83
TGC-0077		54	54.6	0.6	1.38
TGC-0077		64.2	65.4	1.2	2.53
TGC-0077		72.9	74.4	1.5	1.11
TGC-0078		14.2	14.8	0.6	10.17
TGC-0078	including	14.5	14.8	0.3	18.52
TGC-0078		16	17.2	1.2	3.61
TGC-0078		52	52.6	0.6	1.55
TGC-0078		87.7	89.5	1.8	2.53
TGC-0078		91.9	92.5	0.6	20.13
TGC-0078		95.2	98.2	3	20.44
TGC-0078	including	95.2	95.5	0.3	149.63
TGC-0078	and	96.1	97.6	1.5	9.28
TGC-0078	which includes	96.1	97	0.9	11.85
TGC-0078	and	97	97.6	0.6	5.43
TGC-0079		98.1	98.7	0.6	0.53
TGC-0079		102.9	103.5	0.6	5.02
TGC-0080		21	22.2	1.2	11.67
TGC-0080	including	21	21.3	0.3	7.26
TGC-0080	and	21.6	21.9	0.3	35.67
TGC-0080		23.4	24.3	0.9	45.89
TGC-0080		45.3	55.2	9.9	5.16
TGC-0080	including	47.4	47.7	0.3	5.46
TGC-0080	and	47.7	48	0.3	8.1
TGC-0080	and	48.3	48.6	0.3	18.03
TGC-0080	and	48.6	48.9	0.3	17.95
TGC-0080	and	49.8	50.7	0.9	21.05
TGC-0080	which includes	49.8	50.1	0.3	42.72
TGC-0080	and	50.1	50.4	0.3	15.08
TGC-0080	and	50.4	50.7	0.3	5.35
TGC-0080	and also including	53.4	54.3	0.9	9.88
TGC-0080		70.2	71.4	1.2	0.9
TGC-0080		77.4	80.1	2.7	0.88
TGC-0082		15.5	16.7	1.2	16.96
TGC-0082	including	16.1	16.7	0.6	29.06
TGC-0082	which includes	16.1	16.4	0.3	34.23
TGC-0082	and	16.4	16.7	0.3	23.89
TGC-0082		43.7	45.5	1.8	0.99
TGC-0082		46.7	48.5	1.8	2.2
TGC-0082		49.7	50.6	0.9	0.58
TGC-0082		57.5	58.7	1.2	0.9
TGC-0082		67.7	68.6	0.9	1
TGC-0082		83	83.3	0.3	3.61
TGC-0083		19.4	20.3	0.9	4.12
TGC-0083	including	19.7	20	0.3	10.79
TGC-0083		41	46.4	5.4	3.13
TGC-0083	including	42.5	43.1	0.6	5.91
TGC-0083	and	43.7	44	0.3	10.41
TGC-0083	and	44.9	45.2	0.3	12.23
TGC-0083		48.2	49.4	1.2	3.35
TGC-0083		52.4	52.7	0.3	3.42
TGC-0083		55.4	57.5	2.1	3.04
TGC-0083		56.9	57.2	0.3	10.7
TGC-0083		63.5	65.6	2.1	8.24
TGC-0083	including	65	65.6	0.6	25.13
TGC-0083	which includes	65	65.3	0.3	18.58
TGC-0083	and	65.3	65.6	0.3	31.67
TGC-0083		67.4	69.5	2.1	0.74
TGC-0083		110.6	110.9	0.3	9.08

Table 4. Collar coordinates for grade control holes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0053	1876269	3920756	154	92.1	8.1	116.6
TGC-0054	1876437	3920744	139	296.3	-3.2	104.0
TGC-0055	1876269	3920756	152	96.2	-32.3	134.7
TGC-0057	1876269	3920755	152	116.2	-34.1	134.7
TGC-0060	1876182	3920858	167	130.5	-30.3	92.3
TGC-0062	1876182	3920858	167	114.3	-32.6	101.6
TGC-0063	1876182	3920858	167	114.1	-17.2	70.9
TGC-0064	1876183	3920858	168	103.5	-8.5	230.9
TGC-0066	1876184	3920858	168	103.5	0.1	210.0
TGC-0068	1876182	3920858	167	109.6	-22.1	231.4
TGC-0069	1876182	3920857	168	125.2	0.0	91.4
TGC-0070	1876182	3920858	167	116.6	-41.2	101.9
TGC-0071	1876180	3920857	166	39.4	-51.3	221.3
TGC-0072	1876183	3920859	167	104.3	-31.1	100.5
TGC-0073	1876268	3920756	152	114.4	-33.4	131.4
TGC-0074	1876268	3920757	152	96.5	-39.0	131.5
TGC-0075	1876269	3920756	153	102.2	8.1	106.7
TGC-0076	1876373	3920627	127	340.4	-24.6	137.0
TGC-0077	1876269	3920757	154	93.3	15.3	118.7
TGC-0078	1876268	3920757	154	90.5	-33.2	116.8
TGC-0079	1876373	3920627	128	333.6	-14.5	131.2
TGC-0080	1876269	3920758	152	76.2	-27.4	116.5
TGC-0082	1876269	3920758	152	80.3	-33.2	121.1
TGC-0083	1876268	3920758	152	67.1	-33.0	137.6

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180547

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Options Its Copperhole Creek Polymetallic Project in Australia to Lumira Energy Ltd.

Post author By admin
Post date September 13, 2023

Vancouver, British Columbia–(Newsfile Corp. – September 13, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement for EMX’s Copperhole Creek polymetallic project in Queensland, Australia (the “Project”) (see Figure 1) to Lumira Energy Ltd. (“Lumira“), a private Australian Company. The agreement provides EMX with a 2.5% Net Smelter Return (“NSR”) royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with this transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) in mid-year 2024.

The polymetallic Copperhole Creek Project is located 20 km east of the Georgetown-Forsayth Metallogenic District in Queensland, with mineralization developed in the same host rocks as the Georgetown-Forsayth District. There are two main styles of mineralization recognized on the Copperhole Creek property, (1) tin-copper-molybdenum mineralization developed in zones of greisen-style alteration and (2) shear zone hosted copper-silver mineralized veins and breccias. Numerous occurrences, historical mines and prospects with either or both styles of mineralization occur on EMX’s land position (see Figure 2). Although the nearby Georgetown-Forsayth Metallogenic District is well known for its historical gold production, only a few of the occurrences at Copperhole Creek have been assayed for gold, adding further upside to the Project.

This transaction will provide Lumira with a flagship asset in Australia in advance of its proposed ASX listing. EMX and Lumira will apply modern exploration methods and deposit models to identify and prioritize additional targets within the project area.

Commercial Terms Overview: All terms in Australian Dollars (AUD) unless otherwise indicated. Upon execution, Lumira will make a cash payment of $20,000 to EMX to commence an exclusive two-month option period. Pursuant to the agreement, Lumira can acquire a 100% interest in the Project by paying EMX an additional $30,000 prior to the end of the two-month option period. Upon a successful listing on the ASX, Lumira will issue shares of Lumira equivalent to $100,000 to EMX and a further 500,000 shares 12 months after listing. Furthermore, upon listing Lumira will also issue to EMX 1,000,000 options with 500,000 options being exercisable for one share of Lumira at a price of $0.30 for 24 months and 500,000 options being exercisable for one share of Lumira at a price of $0.40 for 36 months.

Upon completing the option period requirements, Lumira will earn a 100% interest in the Project with EMX retaining:

A 2.5% NSR royalty interest.
Annual advance royalty (“AAR”) payments of $30,000 per year commencing upon the third anniversary of the initial public offering, with the AAR payment escalating by 15% per year until reaching a maximum of $75,000 per year.
Milestone payments as follows:
- $250,000 in cash or Lumira shares upon publication of a maiden JORC complaint resource;
- $250,000 in cash or Lumira shares upon publication of a scoping study or a Preliminary Economic Assessment;
- $500,000 in cash upon publication of a Definitive Feasibility Study; and
- $1 million in cash upon commencement of commercial production.

To maintain its interest in the projects, Lumira will also:

Spend $50,000 in exploration expenditures before the date of the initial public offering (“IPO”);
Spend an additional $250,000 by the first anniversary of the IPO;
Spend an additional $200,000 by the second anniversary of the IPO; and
Complete a minimum of 1,000 m of drilling each year from the third to the eighth anniversary of the IPO.

Within 96 months of executing the agreement, Lumira will have the right to re-purchase 0.5% of the NSR Royalty on the Project for $1.2 million.

Copperhole Creek Project. Although located within a prospective geologic belt, with the historical Einasleigh Copper Mine located 25 km along trend to the southeast, the Copperhole Creek project has not seen systematic exploration in the past 30 years. Production from various historical mines took place in the early 20^th century, with limited exploration taking place in the 1970’s and 1980’s. The Questend prospect was drilled by BP Minerals in 1978 with two shallow reverse circulation drill holes, with a reported intercept of 12 meters of 3.27% Cu, 0.66% Zn, 0.26% Sn and 51 ppm Ag from 36 meters¹ (true width not reported). The mineralization was hosted within a quartz-sulfide breccia body that appears to project from mineralization exposed in nearby prospect pits.

In a broad sense, mineralization appears to be zoned with Cu-Mo-Sn mineralization developed in the northeastern portion of the property to more copper-silver mineralization developed in the southwest. Prioritized exploration targets include mineralized shear zones and breccias that were targeted by the historical mining operations. The project also contains potential for Cu-Mo-Sn porphyry style mineralization in the zones of greisen style alteration and mineralization.

More information on the Project can be found at www.EMXroyalty.com.

Comments on Nearby and Adjacent Properties. The deposits, projects and mines discussed in this news release provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Project hosts similar quantities, grades or styles of mineralization.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt Exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location Map of the Copperhole Creek Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/180418_figure%201.jpg

Figure 2. Overview Map of the Copperhole Creek Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/180418_figure2.png

¹ Drilling was conducted by BP Mining Development Australia Pty Ltd in 1978 with results reported to the Queensland Geologic Survey in 1979 in a report titled Final Report on A.TO P.1806 (cr_7585.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

² Underground sampling was completed by Bridge Minerals in 1971 and reported to Queensland Geologic Survey that year in a report titled Annual Report Georgetown District Eveleigh Block (cr_3533.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

³ Surface rock chip sampling was completed by Battle Mountain Gold Company in 1989 and reported to the Queensland Geologic Survey that year in a report titled Authority to Prospect 5855M (Copperhole Creek) (CR_20492.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180418

Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Receives Initial Royalty Payment from Zijin

Post author By admin
Post date September 12, 2023

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of $6,675,947 in royalty proceeds from its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin recently agreed to an amended and restated royalty agreement that covers Zijin’s Brestovac exploration permit area (including the active Cukaru Peki copper and gold mine), as well as portions of Zijin’s Jasikovo-Durlan Potok exploration license (see EMX News Release dated September 5, 2023). EMX now owns a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced.

The approximately $6.68 million royalty payment consisted of $1.59 million from July-December, 2021, payments of $3.20 million from the calendar year 2022, and $1.89 million for the period of January-June, 2023.

Various news media reports recently highlighted Zijin’s planned expansion of the Cukaru Peki operation. As reported by Bloomberg News on August 28, 2023, Branko Rakocevic, Assistant General Manager at Serbia Zijin Mining d.o.o. Bor, commented: “These are vast reserves, which require additional infrastructure, additional investment of around $3.5 to $3.8 billion.” This would represent a substantial further investment in the Cukaru Peki project. Zijin is currently producing copper and gold from the Upper Zone deposit at Cukaru Peki, while concurrently developing the Lower Zone porphyry copper and gold deposit.

The Cukaru Peki deposits and operations are summarized in Zijin’s annual reports and in various Zijin disclosures. An NI-43-101 technical report for the Timok royalty was filed by EMX on SEDAR on March 31, 2022.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Forward-Looking Statements

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2023 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180301

Junior Mining Precious Metals

Emperor Metals Intercepts 11.7 Metres of 5.63 g/t Gold at the Duquesne West Gold Project in Quebec

Post author By admin
Post date September 12, 2023

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – Emperor Metals Inc. (CSE: AUOZ) (OTC Pink: EMAUF) (FSE: 9NH) (“Emperor” or the “Company“) is pleased to announce initial assay results from its summer 2023 drilling campaign at the Duquesne West Gold Project. Drilling continues and, with the recent completion of hole DQ23-06, it has reached 5,500 metres of the planned +8,000 metres.

Highlights

11.7 metres (m) of 5.6 grams per tonne (g/t) gold (Au), including 5.8 m of 8.0 g/t Au in DQ23-01,
Partial assays for holes DQ23-01 and DQ23-02 have increased confidence to add ounces,
Potential to grow the Historical Resource of 727,000 ounces of gold at a grade of 5.42 g/t Au.^1,2,
The grade and thickness seen in DQ23-01 exceed the average thickness and grade of the deposit, exhibiting bulk minable widths and grade continuity within the zone and with other intercepts of mineralization, which suggests there may be potential for future mining.

CEO John Florek commented:

“We are situated in a ‘Tier 1 District,’ with convenient access to multiple mills and infrastructure within a mere half-hour drive. This proximity holds immense promise for the future economics of our deposit. Our strategic location near the Rouyn-Noranda mining district of Quebec also opens up numerous possibilities for further growth and exploration at the edges of the high-grade Duquesne West gold deposit.

“The 2023 drilling program is focused primarily on adding ounces to our model by targeting data gaps along plunge lines internal and external to the deposit. Generally, we are seeing an increase in grades and thickness from what our model was predicting. This confirms that enhancing the model’s grade is possible by targeting plunge lines which control mineralization. This is expected to yield a more robust grade and footprint, which could enhance future resource estimation and valuation of the Duquesne West deposit.

“Multiple zones are providing multiple opportunities to delineate ounces. For instance, the grade and thickness seen in DQ23-01 exceeds the average thickness and grade of the deposit. Most importantly it is continuous with other intercepts of mineralization and shows no internal dilution, which could be ideal for developing future mining scenarios.

“The large interval of low-grade, continuous mineralization at hole DQ23-02 is similar to intervals reported at the nearby Goldex mining operation owned by Agnico Eagle (Average Grade of 1.62 g/t gold for contained gold of 3.3 Moz Au; per Agnico Website). With the existing regional infrastructure, there is a unique opportunity to examine underground low-grade bulk tonnage scenarios at Duquesne West. This encourages examination of the near surface open-pit potential above a high-grade gold deposit, which was never properly considered by previous explorers. We intend to examine the potential for defining a bulk tonnage, near surface, open-pittable gold deposit by assaying available historical core that was previously un-assayed. The emergence of various low-cost potential mining scenarios suggests that a path to a multimillion-ounce potential may exist at Duquesne West.”

Summary of Initial Drill Results with Core Photos, AI Targeting Model, Cross Section of DQ23-01

Due to multiple zones of mineralization, there are several promising drill targets for the initial program. By utilizing one drill rig, the exploration team has had sufficient time to consider and adapt to new and exciting or unexpected results, like those seen in hole DQ23-02.

DQ23-01 was an infill drillhole designed to intersect a lower grade area within an identified higher grade shoot. It intersected 50% higher grade (11.7 m of 5.6 g/t Au) than predicted by the model, which will help to increase the local grade and add ounces internally to the deposit.

DQ23-02 was a step-out hole at a core depth of 540.25 m on the eastern margin of a mineralized zone, with an intersection (10.65 m of 3.97 g/t Au) that is expected to extend the footprint of mineralization. The grades and thickness intersected were as expected.

Lab results for other mineralized zones intersected in holes DQ23-01 and DQ23-02 are in progress. Partial assays for initial results at holes DQ23-01 and DQ23-02 have increased confidence to add ounces to the Duquesne West deposit.

In addition to the exciting grade and robust thickness of hole DQ23-01 (11.7 m of 5.6 including 5.8 m of 8.0 g/t Au), two zones of mineralization were encountered in hole DQ23-02, including an unexpected broad, continuous zone of mineralization at the bottom of DQ23-02 with assays yielding 25.0 m of 1.69 g/t Au. This hole will be recollared to drill it deeper; results are pending.

DQ23-02 also had an unexpected intersection (25.0 m of 1.69 g/t Au) at a core depth of 814 m that was lateral to an identified quartz-feldspar porphyry dike swarm, with dikes ranging from a few metres to tens of metres. Incomplete historical sampling was performed on nearby drillholes. This hole adds an intriguing new scenario to the potential opportunities for enhancing the resource potential at Duquesne West.

Samples were sent to SGS Laboratories in Lakefield, ON.

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
¹DQ23-01	531.30	532.20	0.90	4.96
	532.20	532.70	0.50	2.95
	532.70	533.70	1.00	3.01
	533.70	534.35	0.65	11.96
	534.35	535.00	0.65	2.00
	535.00	535.50	0.50	19.27
	535.50	536.35	0.85	5.57
	536.35	536.95	0.60	3.21
	536.95	537.50	0.55	2.30
	537.50	538.00	0.50	1.30
	538.00	538.90	0.90	13.01
	538.90	539.45	0.55	12.52
	539.45	540.00	0.55	6.66
	540.00	540.65	0.65	2.63
	540.65	541.25	0.60	5.11
	541.25	542.25	1.00	1.05
	542.25	543.00	0.75	2.07
		Wt. Avg.	11.70	5.63
		Including	5.75	7.98

	551	551.5	0.50	8.21
		Wt. Avg.	0.50	8.21

¹DQ23-02	540.25	541	0.75	13.19
	541	541.75	0.75	4.64
	541.75	542.55	0.80	2.97
	542.55	543.25	0.70	2.9
	543.25	544.25	1.00	3.01
	544.25	545.25	1.00	5.92
	545.25	546.25	1.00	3.32
	546.25	547.25	1.00	2.29
	547.25	548	0.75	1.61
	548	548.75	0.75	1.81
	548.75	549.75	1.00	0.86
	549.75	550.3	0.55	9.52
	550.3	550.9	0.60	2.11
		Wt. Avg.	10.65	3.97
		Including	5.00	5.34

	814	841	25.0	1.69
		Wt. Avg.	25.0	1.69
		Including	7.00	3.12

¹Note: Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%.

Image 1: Representation of mineralized and altered core from DQ23-01 (11.7 m of 5.63 g/t Au)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/180273_emperorimage1.jpg

Image 2: Representation of mineralized and altered core from DQ23-02 (10.65 m of 3.97g/t Au (includes 5.0 m of 5.34 g/t Au))

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/180273_d07768d9549a48ed_002full.jpg

Image 3: Representation of mineralized and altered porphyry core from DQ23-02 (25.0 m of 1.69 g/t Au); bottom of hole ended in mineralization and this zone is subsequently being extended by additional drilling

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/180273_d07768d9549a48ed_003full.jpg

Figure 1: Phase 1 Targeting

To view an enhanced version of this graphic, please visit:
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Figure 2: Cross Section of DQ23-01 (Looking West) with new assay and open potential

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/180273_d07768d9549a48ed_005full.jpg

Quality Assurance and Control

The Quality Assurance and Quality Control (QAQC) was conducted by Technominex, a geological contractor hired by Emperor Metals, which adheres to CIM Best Practices Guidelines for exploration related activities conducted at its facility in Rouyn Noranda, Quebec. The QA/QC procedures are overseen by a Qualified Person on site.

Emperor Metals QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and lab duplicates within the sample stream totaling approximately one QA/QC sample per 7 samples. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags with appropriate tags and shipped to the SGS Lakefield laboratory and the other half retained on site in the original core box. A dispatch list consists of 88 or 176 samples along with their corresponding QAQC samples for a single batch. This allows complete batches (88 samples) for fire assay. A file for sample tracking records tags used and weights of sample bags shipped to the SGS Lakefield. Shipment is done by Manitoulin Transport and coordination by Technominex staff in Rouyn-Noranda.

The third-party laboratory, SGS prep laboratory in Lakefield Ontario, processes the shipment of samples using standard sample preparation (code PRP91) and produces pulps from the specified samples. The pulps are then sent off to SGS Burnaby for analysis. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility all the way to analysis at the SGS Burnaby B.C. laboratory.

Analytical testing is performed by SGS laboratories in Burnaby, British Columbia. The entire sample is crushed to 75% passing 2mm, with a split of 500g pulverized to 85% passing 75 microns. Samples are then analyzed using Au – ore grade 50g Fire Assay, ICP-AES with reporting limits of 0.01 -100 part per million (ppm). High grade gold analysis based on the presence of visible gold or a Fire assay result exceeding 100 ppm, are analyzed by Au – metallic screening, 1kg screened to 106μm, 50g fire assay, gravimetric, AAS or ICP-AES of entire plus fraction and duplicate analysis of minus fraction. Reporting limit 0.01ppm.

About the Duquesne West Gold Project

The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.

Under an Option Agreement, Emperor agreed to acquire a one hundred percent (100%) interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property”) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc.. For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated October 12, 2022, available on SEDAR.

The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au^1,2. The mineral resource estimate predates modern CIM guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.

Reinterpretation of the existing geological model was created using Artificial Intelligence (A.I.) and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.

¹Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada for XMet Inc.
²Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent Canadian Institute of Mining and Metallurgy (CIM) standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.

QP Disclosure

The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR (www.sedarplus.ca), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Florek”

John Florek, M.Sc., P.Geol
President, CEO and Director
Emperor Metals Inc.

For further information, please contact:

Mr. Alex Horsley, Director
Phone: 778-323-3058
Email: alexh@emperormetals.com
Website: www.emperormetals.com

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “ANTICIPATES”, “BELIEVES”, “TARGETS”, “ESTIMATES”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.

FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS, ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180273

Base Metals Energy Junior Mining Precious Metals

Blackwolf Completes Acquisition of Optimum Ventures; Andrew Bowering Joins the Board of Directors

Post author By admin
Post date September 12, 2023

VANCOUVER, BC / ACCESSWIRE / September 12, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG)(OTC PINK:BWCGF) and Optimum Ventures Ltd. (“Optimum“) (TSXV:OPV) are pleased to announce that they have completed their previously announced plan of arrangement, pursuant to which the Company acquired all the issued and outstanding shares of Optimum, and, in exchange, shareholders of Optimum received 0.65 of a common share of Blackwolf for each Optimum share held (the “Transaction“). In addition, Andrew Bowering, mining entrepreneur, a founder of Optimum, has joined the Company’s board of directors, replacing Don Birak, who stepped down effective September 12, 2023.

Andrew Bowering is a renowned venture capitalist with over 30 years of experience in global mineral exploration and development and a track record of building shareholder value. He has founded, funded, and led teams in the pursuit of various metals, from initial exploration to production. Mr. Bowering has held senior management roles, overseeing asset acquisitions, sales, and raising over $250 million in development capital. He was a founder of Millennial Lithium Corp (acquired by Lithium Americas) and is actively involved in other publicly traded companies in the battery metals and precious metals sectors, such as Prime Mining Corp and American Lithium Corp.

Morgan Lekstrom, CEO and Director of the Company stated, “With the acquisition of Optimum, Blackwolf has become a top developer of precious and strategic metal projects in Alaska and British Columbia’s Golden Triangle. We are excited to welcome Optimum shareholders and our new board member, Andrew Bowering. This merger has brought exciting projects and expertise to Blackwolf, and we believe it contribute significantly to our goal of creating value for our shareholders.“

Rob McLeod, Executive Chairman of Blackwolf, said, “We are proud to welcome Andrew Bowering as a new director of Blackwolf. Andy is one of Canada’s top mining entrepreneurs, and we have a history of working together in the Golden Triangle since 1995. We are looking forward to working together again. Also, on behalf of the rest of the Blackwolf Team, I want to thank Don Birak for his valuable service to the Company and wish him the best in his future endeavours.“

Delisting of Optimum Shares and Information for Optimum Shareholders

The Optimum shares are expected to be delisted from the TSX Venture Exchange at the close of trading on September 14, 2023, and Optimum intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.

Further information about the Transaction is set forth in Optimum’s management information circular dated July 31, 2023 relating to the annual general and special meeting of securityholders of Optimum (the “Circular“), which is available under Optimum’s SEDAR+ profile at www.sedarplus.ca. Information regarding the procedure for exchange of Optimum shares for Blackwolf shares is provided for in the Circular. In order to receive Blackwolf shares in exchange for Optimum shares, registered shareholders of Optimum must complete, sign, date and return the letter of transmittal that was mailed to each registered Optimum shareholder along with the Circular. For those shareholders of Optimum whose Optimum shares are registered in the name of a broker, investment dealer, bank, trust company or other intermediary or nominee, they should contact such intermediary or nominee for instructions and assistance in depositing their Optimum shares.

Advisors and Counsel

In connection with the Transaction, Fiore Management and Advisory Corp. was issued 567,299 common shares of the Company in consideration for advisory services provided to the Company.

DuMoulin Black LLP acted as legal counsel to Blackwolf. Boughton Law Corporation acted as legal counsel to Optimum.

Upon closing of the Transaction and the issuance of shares for advisory services the Company’s issued and outstanding common shares is 108,957,568.

About Blackwolf Copper and Gold Ltd.

Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as six Hyder Area gold-silver and base metal properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the Cantoo and Harry properties. For more information on Blackwolf, please visit the Company’s website at www.blackwolfcopperandgold.com.

On behalf of the Board of Directors of Blackwolf Copper and Gold Ltd.

“Morgan Lekstrom”

CEO and Director

For more information, contact:

Morgan Lekstrom
250-574-7350 (Mobile)
604-343-2997 (Office)
mll@bwcg.ca

Liam Morrison
604-897-9952 (Mobile)
604-343-2997 (Office
lm@bwcg.ca

Cautionary Statements Regarding Forward-Looking Statements

This news release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian securities legislation (collectively herein referred to as “forward-looking information”). Wherever possible, words such as “expects”, “expected”, “strategic” and similar expressions or statements that certain actions, events or results “will” or “may” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Forward-looking information contained herein includes, but is not limited to, the anticipated benefits of the Transaction, and discussion of future plans, projects, objectives, estimates and forecasts and the timing related thereto, the timing of the delisting of Optimum, Optimum ceasing to be a reporting issuer.

Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results, actions, events, conditions, performance or achievements to materially differ from those expressed or implied by the forward-looking information, including, without limitation, risks related to exploration and potential development of the Company’s projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and such other risks as are identified in the public disclosure documents of the Company filed on SEDAR+ at www.sedarplus.ca (the “Disclosure Documents”). This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended.

Our forward-looking information is based on the assumptions, beliefs, expectations, and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this news release, we have made certain assumptions about, among other things, the Company’s ability to achieve the business and operational synergies expected as a result of the Transaction and explore and develop its projects as currently anticipated. Although we believe that the assumptions inherent in forward-looking information are reasonable as of the date of this news release, these assumptions are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained in this news release.

Additional information about the risks and uncertainties concerning forward-looking information and material factors or assumptions on which such forward-looking information is based is provided in the Disclosure Documents. Forward-looking information is not a guarantee of future performance. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Forward-looking information involves statements about the future and is inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in this news release and the Disclosure Documents. For the reasons set forth above, readers and prospective investors should not place undue reliance on forward-looking information.

We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law.

SOURCE: Blackwolf Copper and Gold Ltd

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Base Metals Energy Junior Mining Precious Metals

Emperor Metals Reporrts First Drill Results on Globex Duquesne West Gold Property

Post author By admin
Post date September 12, 2023

Duquesne West, Quebec property map

ROUYN-NORANDA, Quebec, Sept. 12, 2023 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to provide an update regarding drilling by Emperor Metals (CSE: AUOZ, OTCPK: EMAUF, FSE: 9NH) on the Duquesne West Gold property in Duparquet township, Quebec (NTS-32D06) under option from 50% Globex owned Duparquet Assets Ltd. (see Globex press release dated October 12, 2022)

Emperor has completed six drill holes to date totaling 5,500 metres of the planned +8,000 metre program.

Partial assay results are available from the first two drill holes and include the following:

Hole DQ23-01 intersected 5.6 g/t Au over 11.7 m (38.4 feet).
Hole DQ23-02 intersected 3.97 g\t Au over 10.65 m (34.9 feet) at a core depth of 540.25 m and an addition wide intersection of 1.69 g\t Au over 25.0 m (82 feet). (Note: This hole was recollared and extended. Assays are pending). Click to access Emperor’s press release of September 12, 2023.

See Figure 1 below for details of current assay results.
The optioned Duquesne West property consists of 38 cells which straddle the gold localizing Porcupine-Destor Break which hosts numerous gold deposits across the Abitibi of Quebec and Ontario. Previous drilling has intersected a significant number of gold zones along the entire strike length of the property.

An NI 43-101 resource estimate titled “Technical Report and Mineral Resource Estimate Update for the Duquesne West/Ottoman property, Quebec, Canada, for Xmet Inc.”, prepared by David Power Fardy, M.Sc., P. Geo., Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer of Watts, Griffis and McOuat dated October 20, 2011, was completed.

Tonnes	Au (g/t) (Capped)	Contained Au (oz) (Capped)	Au (g/t) (Uncapped)	Contained Au (oz) (Uncapped)
4,171,000	5.42	727,000	6.36	853,000

The NI 43-101 is available here or on Globex’s website. It is worth noting that the Duquesne West property is bounded on the west and east by First Mining Gold’s Pitt and Duquesne Mine properties on which First Mining reported 2,691,000 tonnes grading 2.67 g/t Au and 11,330,000 tonnes grading 2.24 g\t Au respectively in press release dated September 7, 2023.

Figure 1 – Partial assay results from Hole No DQ23-01 and DQ23-02, Source: Emperor’s PR

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
¹DQ23-01	531.30	532.20	0.90	4.96
	532.20	532.70	0.50	2.95
	532.70	533.70	1.00	3.01
	533.70	534.35	0.65	11.96
	534.35	535.00	0.65	2.00
	535.00	535.50	0.50	19.27
	535.50	536.35	0.85	5.57
	536.35	536.95	0.60	3.21
	536.95	537.50	0.55	2.30
	537.50	538.00	0.50	1.30
	538.00	538.90	0.90	13.01
	538.90	539.45	0.55	12.52
	539.45	540.00	0.55	6.66
	540.00	540.65	0.65	2.63
	540.65	541.25	0.60	5.11
	541.25	542.25	1.00	1.05
	542.25	543.00	0.75	2.07
Wt. Avg.			11.70	5.63
Including			5.75	7.98

	551.00	551.50	0.50	8.21
Wt. Avg.			0.50	8.21

¹DQ23-02	540.25	541	0.75	13.19
	541.00	541.75	0.75	4.64
	541.75	542.55	0.80	2.97
	542.55	543.25	0.70	2.9
	543.25	544.25	1.00	3.01
	544.25	545.25	1.00	5.92
	545.25	546.25	1.00	3.32
	546.25	547.25	1.00	2.29
	547.25	548.00	0.75	1.61
	548.00	548.75	0.75	1.81
	548.75	549.75	1.00	0.86
	549.75	550.30	0.55	9.52
	550.30	550.90	0.60	2.11
Wt. Avg.			10.65	3.97
Including			5.00	5.34

	814.00	841.00	25.0	1.69
Wt. Avg.			25.0	1.69
Including			7.00	3.12
¹Note: Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%.

Duquesne West, Quebec property map

Globex is pleased with the progress reported by Emperor and looks forward to additional disclosures of assay results.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

We Seek Safe Harbour.	Foreign Private Issuer 12g3 – 2(b)
	CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14^th Street Rouyn-Noranda, Quebec Canada J9X 2J1	Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9fa69689-3a3f-46a7-ae8a-b7d9c772f4e0

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