The following was conducted during the 2022 – Capitalism and Morality, hosted by Jayant Bhandari.
Legendary investor, philosopher Rick Rule speaks at the world famous ‘Capitalism and Morality’. Mr. Rule will be presenting moral and philosophical thoughts in his presentation regarding the attack on the rich. Absolute must watch!
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Plan map of Kingsway Gold occurrences showing latest drill intersections.
TORONTO, Oct. 20, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.
Highlights of the drilling include an intersection of 30.67 g/t Au over 1.1 metres from 208.85 metres that included 99.31 g/t Au over 0. 3 metres in Hole K-22-190 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop and is downdip of Hole K-22-177 that intersected the longest interval yet of 2.02g/t Au over 32m (see news release dated October 7, 2022). Also at Big Vein, Hole K-22-194 intersected 1.27 g/t Au over 6.17 metres from 115 metres that included 2.3 g/t Au over 3m. At Big Vein Southwest, Hole K-22-184 intersected 4.67 g/t over 1.64m from 336.25m that included 8.97 g/t over 0.75m.
“We continue to have drilling success at the north end of Big Vein where several significant intercepts have now been received, including 6.07 g/t Au over 19m in hole K-21-111 and 2.02 g/t over 32m in Hole K-22-177 and now 30.67g/t Au in Hole K-22-190,” said Roger Moss, President and CEO. “The down dip mineralization in K-22-190 shows the high-grade prospectivity of this area which we are currently following up. Big Vein has been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two drill rigs are currently drilling at Big Vein to test for extensions of the mineralization in both directions.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-22-194
20
21
1
1.05
Big Vein
24
25
1
1.04
115
121.17
6.17
1.27
including
115
118
3
2.30
265
268
3
1.52
K-22-192
nsv
Golden Glove
K-22-191
nsv
CSAMT
K-22-190
21.65
22
0.35
1.00
Big Vein
124
125
1
1.15
199.7
200
0.3
2.31
208.85
209.95
1.1
30.67
including
209.65
209.95
0.3
99.31
233.5
235
1.5
1.10
248
249
1
1.03
310.45
311
0.55
4.19
K-22-186
nsv
CSAMT
K-22-184
333
338.59
5.59
1.47
Big Vein SW
including
336.25
337.89
1.64
4.67
including
336.25
337
0.75
8.97
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
A total of 58,265 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,100 metres of core (11.5% of the total submitted).
The Company has $21 million in cash and is well funded to carry out the remaining 42,000 metres of the planned drill program as well as further target generation on the property.
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $21 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact: Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter @LabGoldCorp
Neither 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 contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
KELOWNA, BC / ACCESSWIRE / October 19, 2022 / Diamcor Mining Inc. (TSXV:DMI), (OTCQB:DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announced today it has delivered approximately 5,593 carats of rough diamonds recovered from the processing of quarry material at the Company’s Krone-Endora at Venetia Project (the “Project”) for the Company’s first tender and sale of the current quarter ending December 31, 2022. The total includes several individual gem quality diamonds in the Specials (+10.8 carats) category, with the largest being 43.55 carats in size. Despite being the first of two planned tenders and sales in the quarter, the total rough diamonds delivered to date already represent an increase of 148% over the total carats sold in the previous quarter.
“This initial delivery of rough diamonds for the current quarter continues to demonstrate our Company’s ability to successfully adjust and refine operations as required to achieve sustained operational growth”, commented Diamcor CEO Mr. Dean Taylor. “The continued recovery of several individual gem quality rough diamonds in the +10.8 carat specials category, including the 43.55 carat stone, confirms the Project’s potential to achieve strong average dollar per carat results, and the recovery of larger, higher value, gem quality diamonds.“
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, the OTCQB International under the symbol DMIFF, and on the Frankfurt Exchange under the symbol DC3A. The Company has a well-established operation in South Africa with a proven history of supplying rough diamonds to the world market. Diamcor has established a long-term strategic alliance with world famous luxury retailer Tiffany & Co. and is now in the final stages of developing the Krone-Endora at Venetia Project co-located with De Beer’s flagship Venetia mine.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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Neither 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.
Burlington, Ontario–(Newsfile Corp. – October 18, 2022) – On September 26, 2022, Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate.
To help identify with greater precision the location of the source of the platinum, palladium, rhodium, osmium and gold, SBMI recently took samples directly from locations around the Buckeye Silver Mine and the Company’s mill site, including from crushed material, directly from the vein, from diabase samples from the wall rock and from tailings from the run of lower grade material. The location from which those samples were taken and their assay results are below:
Assay Results are in Grams per Tonne
Sample ID
Au
Pd
Pt
Rh
Ir
Ru
Os
Diabase
1
14.3
23.7
0.246
0.193
0.151
nd
0.415
2
22.3
18.9
0.172
0.076
nd
nd
0.333
3
8.17
15.9
0.093
0.083
nd
nd
nd
4
22.3
18.2
0.097
0.072
nd
nd
nd
Crushed ore 1
15.1
9.07
nd
0.157
nd
0.949
0.08
2
23.2
11.6
0.064
0.17
nd
0.731
0.063
3
34.1
16.2
0.15
0.115
0.111
0.259
0.129
4
16.2
16.4
0.127
0.118
0.083
nd
0.097
5
37.9
15.6
0.107
0.058
0.278
0.18
0.053
6
26.6
17.9
0.127
0.085
0.08
nd
nd
7
25.5
12.1
0.085
0.052
nd
0.265
nd
8
23.9
13.7
0.106
0.069
nd
nd
nd
Head ore
1
18.8
13.5
0.093
0.062
nd
nd
nd
2
21.9
11.7
0.06
nd
nd
0.218
nd
3
37.2
16
0.105
nd
nd
0.137
nd
4
30.6
13.6
0.07
nd
nd
0.306
nd
5
22.9
12
0.07
nd
nd
0.306
nd
6
24.3
10.4
0.061
nd
nd
0.251
nd
Tailings
1
18.5
12.2
0.079
0.064
nd
0.211
nd
2
19.9
11.5
0.063
0.068
nd
0.272
nd
3
28.8
16.5
0.091
nd
nd
0.174
nd
4
26.8
16.2
0.085
0.104
nd
nd
nd
5
37.1
16.9
0.102
0.083
nd
nd
nd
6
31.8
17.2
0.093
0.051
nd
nd
nd
Samples from all locations above were taken to be as representative of the local mineralized material as possible. Samples taken from the crushed ore are by their nature representative of the source mineralized material.
In management’s opinion, this round of results provides further strong evidence for the conclusion that the Buckeye Silver Mine may host economic amounts of platinum, rhodium, palladium, osmium and gold, in addition to the original silver targets. Management has engaged third party engineers, metallurgists and geologists to assist in creating a new process flow sheet and in determining the nature of the mineralized material at the Buckeye Silver Mine. Without effecting selective disclosure, management has also had positive preliminary discussions with potential financiers, pending the delivery of the flow sheet and a rough budget.
QAQC
For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2022, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks.
Readers are cautioned that although management has made every reasonable effort to ensure the samples are as representative of the local mineralized material as possible, the samples above (apart from the crushed ore samples) are ultimately random by nature and may not be representative of the mineralization throughout the Buckeye Silver Mine.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; the presence and quantity of minerals in the Company’s properties; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
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VANCOUVER, BC, Oct. 17, 2022 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (“Bravo” or the “Company“) today announced that high-grade PGM assay results have been received for previously released diamond drill hole DDH22LU047. Hole DDH22LU047 intercepted high-grade nickel and copper at its Luanga palladium + platinum + rhodium + gold + nickel (PGM+Au+Ni) project (“Luanga“), located in the Carajás Mineral Province, state of Pará, Brazil.
The high-grade intercept in hole – DDH22LU047 graded 4.24 g/t 3PGM+Au with 2.04% nickel and 1.23% copper over 11.04m and occurs in massive and semi-massive sulphides.
“As announced in Bravo’s August 16th, 2022 news release, high-grade nickel-copper mineralization had not been previously observed at Luanga. This discovery suggests potential for other metals and styles of mineralization than previously intercepted at Luanga, and we are extremely encouraged that it also contains high grade PGMs,” said Luis Azevedo, Chairman and CEO of Bravo. “Downhole EM has commenced and should greatly assist in targeting follow up drilling, whilst surface EM has the potential to identify other massive and semi-massive sulphide mineralization along Luanga’s 8.1 km mineralized strike.”
Highlights:
HOLE-ID
From(m)
To(m)
Thickness (m)
Pd(g/t)
Pt(g/t)
Rh(g/t)
Au (g/t)
PGM + Au (g/t)
Cu(%)
Ni (%)(Sulphide)
Type
DDH22LU047
131.11
142.15
11.04
3.56
0.57
0.07
0.04
4.24
1.23
2.04
FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 85% of true thickness.
Type: FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
Two diamond drill holes have been completed on each of two drill sections located 50m north and south of DDH22LU047.
All four step-out drill holes have intersected varying amounts of semi-massive sulphides. Assay results are pending.
Drill rigs have been temporarily moved clear of the area while borehole electromagnetic surveys (“EM”) are completed on these four step-out drill holes.
Following the completion of borehole EM, surface fixed loop EM will commence over the entire Luanga deposit.
DDH22LU047: High grade massive sulphide PGM + nickel + copper mineralization at 136.0m* (CNW Group/Bravo Mining Corp.)
DDH22LU047: High grade massive sulphide PGM + nickel + copper mineralization at 136.0m*
* Downhole depth
Luanga Drill Program
The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling progressing in various locations along the entire 8.1 km strike length of the known Luanga mineralized envelope (as defined by historic drilling). To date, 91 drill holes have been completed, for a total of 15,554 metres of the planned 25,500 metre Phase 1 drill program.
Additional details for Intercept in Hole -047
HOLE-ID
From(m)
To(m)
Thickness (m)
Pd(g/t)
Pt(g/t)
Rh(g/t)
Au (g/t)
PGM + Au (g/t)
Ni(%) (Sulphide)
Cu(%)
Type
DDH22LU047
131.11
142.15
11.04
3.56
0.57
0.07
0.04
4.24
2.04
1.23
FR
Including
132.26
136.80
4.54
4.03
0.07
0.10
0.03
4.23
2.77
0.54
FR
Including
136.80
137.60
0.80
4.68
0.31
0.08
0.16
5.23
0.98
10.82
FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 85% of true thickness.
Type: FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
Location of Bravo Drilling Reported in this Document (CNW Group/Bravo Mining Corp.)
Location of Bravo Drilling Reported in this Document
About Bravo Mining Corp.
Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.
The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.
Technical Disclosure
Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified person”, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“). Mr. Mottram has verified the technical data and opinions contained in this news release.
Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “potential”, “assist”, “suggest”, and other similar words, phrases or statements that certain events or conditions “should”, or “will” occur. In particular, this news release contains forward-looking information pertaining to the Company’s ongoing drill program and the results thereof, including the assay results for the four step-out holes near hole -047 that intercepted semi-massive sulphides; the results of geophysical surveys; the potential for the definition of new styles of mineralization and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; final drill and assay results will be in line with management’s expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Schedule 1: Drill Hole Collar Details
HOLE-ID
Company
East (m)
North (m)
RL (m)
Datum
Depth (m)
Azimuth
Dip
DDH22LU047
Bravo
659899.99
9342475.05
275.18
SIRGAS2000 UTM22S
170.05
090
-60
Schedule 2: Assay Methodologies and QAQC
Samples follow a chain of custody between collection, processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in the analytical guides. IN this case a split is collected by Bravo staff and securely delivered to the Intertek laboratory in Parauapebas where it was assayed by high priority for ore grade Ni and Cu.
Quality Assurance and Quality Control (“QAQC”) is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.
Joining us for a conversation is Ari Sussman of Collective Mining, Colombia’s Newest Exploration Company. Collective Mining has just announced another significant development coming from the flagship Guayabales Project. Today’s discussion will focus on the Main Breccia at the Apollo Target which is delivering High Grade along with some remarkable continuity with a new Strike of 385 Meters, Width at 350 Meters, and Vertical 825 Meters!
Collective Mining: Rapidly advancing, large-scale gold-copper-silver-moly porphyry and breccia targets with related high-grade vein systems in the mining-friendly department of Caldas in Colombia
Collective Mining’s two projects the Guayabales (Flagship) and the San Antonio (Secondary) are situated in Marmato, an underexplored yet multi-million ounce, high-grade gold and silver district located in the Middle Cauca belt in Colombia. With six out of eleven targets drilled, the Company has made three promising grassroot discoveries to date and is awaiting assay results on a potential fourth discovery. Drilling activity continues at a brisk pace with a 20,000+ metre drill program in 2022.
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Visual observations from two step-out diamond drill holes within the Company’s Main Breccia discovery at the Apollo target have intersected the most cumulative mineralization in drill holes completed to date as well as significantly expanded the known dimensions of this exciting new discovery.
Hole APC-17, which was drilled due north from Pad 3, cut more than 600 metres in total of favourable mineralization before terminating at approximately 913 metres while still in mineralization. This is the most mineralization encountered in a drill hole to date at the Apollo target.
Hole APC-22, which was drilled to the northeast from Pad 3, cut more than 400 metres in total of favourable mineralization before terminating at 734 metres while still in mineralization.
As a result of both new holes, the potential total volume of rock hosting the Main Breccia discovery within it has approximately tripled in size with the dimensions now measuring 385 metres along strike by 350 metres width by 825 metres depth versus prior dimensions of 385 metres x 190 metres x 500 metres. The discovery remains wide open for expansion and further step-out holes are currently being designed.
Three rigs continue to drill at Apollo with additional assay results anticipated in the near term.
TORONTO, Oct. 11, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce visual observations from two step out holes drilled into the Apollo target (“Apollo”) which is located within the Guayabales project in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target with previously announced intercepts including:
Hole
Intercept (m)
Au (g/t)
Ag (g/t)
Cu %
Zn %
Pb %
Mo %
AuEq (g/t) *
APC-2
207.15
1.46
45
0.31
0.08
0.05
0.002
2.68
APC-8
265.75
1.26
55
0.22
0.07
0.05
0.045
2.44
APC-12
237.70
1.15
72
0.38
0.08
0.07
0.001
2.88
* See press releases dated August 10th, September 13th and October 6th respectively.
As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.
“These two new diamond drill holes are incredibly exciting as we have significantly expanded the size of the Main Breccia discovery at Apollo and while doing so, we have cut the longest intercepts of both total and continuous mineralization completed to date. Importantly, the system remains open to the north and northeast as both holes bottomed in mineralization. We look forward to continued aggressive drilling in order to see how much more this exceptional discovery can grow,” commented Ari Sussman, Executive Chairman.
Details (See Figures 1–4)
Fourteen diamond drill holes with accompanying assay results have now been announced at Apollo and a further eleven holes are outstanding. The Company recently completed two northerly directed diamond drill holes, APC-17 and APC-22, from its southernmost drill pad (Pad 3), which were designed to test for mineralized extensions to the Main Breccia discovery. The following visual observations are highlighted from the two step out holes:
Hole APC-17 was drilled approximately due north to a maximum depth of 912.60 metres. The hole intersected more than 70 metres of mineralization beginning at 119 metres down hole (100m vertical) and another 545 metres of mineralization from 365 metres down hole (330m vertical) to the end of the hole (825m vertical). Total mineralization in this diamond drill hole exceeded 600 metres and is the most mineralization drilled in a single hole to date into the Main Breccia discovery at Apollo. The shallow intercept is hosted within angular porphyry related breccia containing chalcopyrite (1-2%) with pyrite and pyrrhotite and is located directly beneath recently discovered mineralization outcropping at surface. The deeper and longer intercept is also hosted within angular porphyry related breccia with the matrix filled with pyrite, chalcopyrite and overprinting carbonate base metal veins (“CBM”). The hole was terminated at 912.6 metres while still in mineralized breccia.
Hole APC-22 was drilled to the northeast to a maximum depth of 734.8 metres and intercepted three zones yielding more than 400 metres of total breccia mineralization. The two shallow zones are located directly beneath surface outcrops and the initial 37 metre intercept commenced at 100 metres downhole (60m vertical), while the second shallow 19 metre intercept began at 167 metres down hole (100m vertical). Mineralization is hosted within angular porphyry breccia with a matrix of chalcopyrite (1-2%) and pyrrhotite and overprinting zones of sheeted CBM veins. The deeper intercept commenced at 308 metres downhole (276m vertical) and continued within mineralized porphyry related angular breccia until the hole was terminated at 734.8 metres.
Visual logging of APC-17 and APC-22 have significantly increased the overall maximum potential volume of rock hosting the Main Breccia discovery, which now measures up to 385 metres along strike by 350 metres width by 825 metres depth (prior dimensions were 385 metres x 190 metres x 500 metres). The system remains open for expansion.
Three rigs continue to drill at Apollo with additional assay results anticipated in the near term.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metres X 700 metres area. The Apollo target area hosts the Company’s new Main Breccia discovery plus a vein system flanking its eastern side. Multiple additional untested breccia, porphyry and vein targets have been generated and will be drilled in due course. Lastly, the overall Apollo target area also remains open for further expansion.
Figure 1: Plan View of the Main Breccia Discovery at Apollo Highlighting the Significant Extensions to the Zone Based on Drill Holes APC-17 and APC-22 (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Images of Core from Hole APC-17 (CNW Group/Collective Mining Ltd.)
Figure 4: Images of Core from Hole APC-22 (CNW Group/Collective Mining Ltd.)
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.
The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program at its flagship Guayabales project, a total of seven major targets have been defined. The Main Breccia discovery within the Apollo target is the most important to date and is characterized by bulk tonnage, high-grade copper-silver gold mineralization with highlight drill results including: 207.15 metres @ 2.68g g/t AuEq, 265.75 metres at 2.44 g/t AuEq and 237.7 metres at 2.88 g/t AuEq. Other grassroots discoveries include near-surface discovery holes yielding 301.9 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.33 g/t AuEq at the Donut target, and 102.2m @ 1.53 g/t AuEq at the Trap target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations). The Company’s fully funded, 20,000 metre drill program for 2022 is ongoing with a significant number of assay results expected through the remainder of the year.
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
