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Goldshore Announces an Indicated Mineral Resource Estimate of 1,535Koz Contained Gold at 1.23 g/t Au and an Inferred Mineral Resource Estimate of 5,198Koz Contained Gold at 1.11 g/t Au at the Moss Gold Project

Post author By admin
Post date February 6, 2024

Vancouver, British Columbia–(Newsfile Corp. – February 6, 2024) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce an updated mineral resource estimate (the “MRE“) for the Moss deposit (“Moss” or the “Moss Deposit“) and East Coldstream deposit (“East Coldstream” or the “East Coldstream Deposit“), both located at its 100%-owned Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project” or the “Project“).

Highlights of the 2024 Mineral Resource Estimate Update:

Upgrading of the MRE to include 23% Indicated Mineral Resources and an increase in the average grade over the 2023 MRE.
- Indicated Mineral Resource of 1,535 thousand ounces grading 1.23 grams per tonne gold (g/t Au), contained within 38.96 million tonnes.
- Inferred Mineral Resource of 5,198 thousand ounces grading 1.11 grams per tonne gold (g/t Au), contained within 146.24 million tonnes.
- The total resource tonnage increase is just under 1% overall over the 2023 MRE, however the overall grade increase versus the 2023 MRE is approximately 11%.

The shears that host gold mineralization have been extensively remodelled as constraining domains, greatly enhancing the reliability of the current MRE.
- With gold prices consistent with the 2023 MRE, 94% of the 2024 MRE’s tonnes and gold ounces are contained within these shear models.
- This is a significant increase compared to the 2023 MRE, where only 35% of the tonnes and 65% of the gold ounces were contained in its shear model.
Implied stripping ratios based on diluted block models and the Reasonable Potential for Eventual Economic Extraction (“RPEEE“) constraining pit optimization are 3:1 for Moss and 6:1 for East Coldstream.
The pit depth is constrained by the model (in multiple locations), indicating the potential for a larger pit should the model be extended at depth.

The 2024 Moss Project MRE update is set to be the foundation for resource growth and development towards Tier One status, and leading to a future Preliminary Economic Assessment (PEA).
All identified zones within the Project are still open to potential expansion.
The Moss Project encompasses 36 satellite targets, including several mapped and sampled gold trends near the Moss Gold Deposit, offering prospects for discoveries and additional gold mineralization.

Table 1: Moss Project Updated Mineral Resource Estimate

			Indicated			Inferred
		Cutoff	Tonnes	Grade	Metal	Tonnes	Grade	Metal
		(g/t Au)	(Mt)	(g/t Au)	(Koz Au)	(Mt)	(g/t Au)	(Koz Au)
Moss
Open Pit	Core Shears	0.35	19.95	1.39	893	56.32	1.39	2,525
	Marginal Shears	0.35	11.35	0.92	335	70.31	0.81	1,836
	Low Grade Halo	0.35	–	–	–	10.21	0.62	202
Open Pit Subtotal			31.30	1.22	1,228	136.84	1.04	4,563
Underground		2.0	–	–	–	3.22	3.43	355
Moss Total		0.35/2.0	31.30	1.22	1,228	140.07	1.09	4,919
East Coldstream
Open Pit		0.35	7.67	1.25	307	5.36	1.15	198
Underground		2.0	–	–	–	0.82	3.10	82
E Coldstream Total		0.35/2.0	7.67	1.25	307	6.18	1.41	280
Grand Total		0.35/2.0	38.96	1.23	1,535	146.24	1.11	5,198

Notes:

The 2024 Moss Mineral Resources were estimated and classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM”) “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 29, 2019, and the CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10, 2014.
Mr. Michael Dufresne, M.Sc., P.Geol., P.Geo. and Mr. Warren Black, M.Sc., P.Geo. both of APEX Geoscience Ltd. (“APEX“) qualified persons as defined by NI 43-101, are responsible for completing the updated mineral resource estimation, effective January 31, 2024.
Mineral resources that are not mineral reserves have no demonstrated economic viability. No mineral reserves have been calculated for Moss. There is no guarantee that any part of the mineral resources discussed herein will be converted to a mineral reserve in the future.
The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, market, or other relevant factors.
The quantity and grade of reported Inferred Resources is uncertain, and there has not been sufficient work to define the Inferred Mineral Resource as an Indicated or Measured Mineral Resource. It is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
The historical underground voids from mining in any of the deposit areas have been removed.
All figures are rounded to reflect the relative accuracy of the estimates. Totals may not sum due to rounding. Resources are presented as undiluted and in situ.
Tonnage estimates are based on individually measured and calculated bulk densities for geological units ranging from 2.68 to 2.89 g/cm³. Overburden density is set at 1.8 g/cm³.
Metal prices are US$1,850/oz Au with a revenue factor of 1 and recovery of 90% for Moss and 95% for East Coldstream.
Open-pit resource economic assumptions are mining costs of US$2.25/waste tonne, $3.00/ore tonne, flotation-leaching processing costs of US$9.50 per tonne, and mine-site administration costs of US$2.10 per tonne processed.
Open-pit resources comprise blocks constrained by the pit shell resulting from the pseudoflow optimization using the open-pit economic assumptions and 50° pit slopes.
Underground resource economic assumptions are US$75/tonne for mining mineralized and waste material and US$9.50/tonne for processing. The underground resource mining assumptions are open pit stope mining method with a minimum mining width of 1.5m and a minimum stope volume equal to stope dimensions of 1.5m x 10m x 20m.
The Underground material below the open pit was manually constrained to continuous material above the gold cutoff (2.0 g/t) that met the minimum thickness and volume requirements. Resources not meeting these size criteria are included if they maintain a grade above the cutoff once diluted to the required size.

Table 2: Moss Project Updated Open Pit Mineral Resource Estimate Sensitivity

Cutoff (g/t Au)	Indicated			Inferred
Cutoff (g/t Au)	Tonnes (Mt)	Grade (g/t Au)	Metal (Koz Au)	Tonnes (Mt)	Grade (g/t Au)	Metal (Koz Au)
Moss
0.2	33.55	1.16	1,249	185.72	0.83	4,985
0.3	32.36	1.19	1,239	150.61	0.97	4,707
0.35	31.30	1.22	1,228	136.84	1.04	4,563
0.4	30.15	1.25	1,214	125.85	1.10	4,431
0.5	27.31	1.34	1,173	104.78	1.22	4,126
0.6	24.05	1.44	1,115	86.6	1.37	3,807
0.8	17.88	1.70	977	60.33	1.66	3,221
1.0	13.00	2.00	836	42.89	1.97	2,721
East Coldstream
0.2	8.70	1.13	316	6.54	0.99	208
0.3	8.01	1.21	311	5.73	1.09	201
0.35	7.66	1.25	307	5.35	1.15	198
0.4	7.33	1.29	303	4.99	1.20	193
0.5	6.59	1.38	292	4.36	1.31	184
0.6	5.92	1.47	280	3.77	1.43	174
0.8	4.58	1.70	250	2.94	1.64	155
1.0	3.49	1.95	219	2.31	1.84	137

See footnotes for Table 1

Table 3: Moss Project Updated Underground Mineral Resource Estimate Sensitivity

Cutoff (g/t Au)	Inferred
Cutoff (g/t Au)	Tonnes (Mt)	Grade (g/t Au)	Metal (Koz Au)
Moss
1.8	3.96	3.14	400
1.9	3.56	3.29	377
2.0	3.22	3.43	355
2.1	2.89	3.59	334
2.2	2.60	3.75	314
2.4	2.11	4.09	277
East Coldstream
1.8	1.00	2.88	93
1.9	0.90	3.00	87
2.0	0.82	3.10	82
2.1	0.76	3.19	78
2.2	0.70	3.28	74
2.4	0.60	3.45	66

See footnotes for Table 1

President and CEO Brett Richards stated: “The MRE results above are extremely encouraging, and validate the strategic exploration and drilling campaign we embarked on almost 3 years ago. We have consistently delivered exciting drilling results as they relate to the Moss Gold Project, and this MRE illustrates a meaningful and material increase in the quality, quantity, and grade of the deposit. Conducting this update to the MRE was the logical next step in defining our strategy going forward of understanding and defining the potential of the Moss Gold Project; in an effort to maximize shareholder value. We continue to believe that the Moss Gold Project will be a sector anomaly of having top quartile grade and top quartile size and scale within our comparable peers; as it moves closer to being a Tier One asset.”

Figure 1: Location of Moss Deposit and East Coldstream Deposit in the Moss Gold Project

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Figure 2: Plan of Moss showing shears, $1,850 pit shell and mapped mineralized trends

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Figure 3: Cross section through the Moss Main Zone showing geology

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Figure 4: Cross section through the Moss Main Zone showing grade model, $1850 open pit shell and modelled stopes

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Figure 5: Plan of East Coldstream showing shears, cross-cutting diabase dike and $1,850 pit shell

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Figure 6: Cross section through East Coldstream showing geology

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Figure 7: Cross section through East Coldstream showing grade model, $1,850 open pit shell and modelled stopes

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Technical Overview

Historical Assay Review

APEX Geoscience Ltd. (“APEX“) completed an in-depth review and validation of assays collected before 2010 at the Moss Deposit and East Coldstream Deposit to establish whether the data is suitable for mineral resource estimation. APEX reviewed previous studies’ evaluation of twin drilling and resampling programs and drew the following conclusions regarding this data:

Five twin holes have been completed in the Moss Zone. APEX regards this dataset as limited, insufficient for definitive conclusions, but adequate for a preliminary assessment. This view is due to the deposit’s characteristics and challenges in accurately positioning twin holes adjacent to historical holes. The data indicate that the twin holes generally exhibit mineralization that corresponds with the mineralization trends noted in the historical drillholes they were designed to test and confirm.
Six historical drillholes were resampled to determine potential bias in the historical dataset.
- Prior analyses of the resampling program focused on comparing the difference between each interval’s historical and modern assays and noting variance discrepancies between the two datasets.
- APEX performed a quantile-to-quantile comparison between resampled and historical assays and the results show similar distributions, indicating no significant bias in resampling assay values vs original values.
- APEX considers the noted variance difference to be within expected ranges, as the differences in sampling volumes could explain any discrepancies.
- These findings remain partially inconclusive due to the limited number of holes resampled.

Due to the inconclusive results from the twinning and resampling programs, APEX conducted a spatial pairing analysis. This analysis compared the distribution of historical assays with modern drilling data. The assay data was limited to samples within the 2023 modelled shear domains, ensuring only assays from similar geological settings were compared. In this analysis, only assays from either dataset that are within 15 meters of an assay from the other dataset could be considered. The dataset included thousands of paired samples to complete the analysis on. Below are APEX’s conclusions:

The assay distributions of historical paired data and modern paired data were found to be similar after accounting for comparable mineralization zones.
No evident bias in historical assays was observed that could be attributed to assay methods or assay labs or different generations (ages) of data.
Some historical data involved selective assaying. Inserting nominal waste values for unsampled intervals yields a conservative gold content estimate at the sample location.

Based upon this analysis, the QP believes that the historical assays can be used for a mineral resource estimate even with limited historical QA/QC data. Details of the Historical Assay Review and Analysis will be provided in a technical report with an effective date of January 31, 2024, prepared in accordance with National Instrument 43-101 (“NI 43-101“) standards.

Moss Deposit Geology

The Moss Deposit is a structurally controlled gold deposit within the greenstone terrain of the Shebandowan Belt in the Archean Superior Province. Mineralization is localized where the major NE-trending Wawiag Fault Zone cuts a dioritic to granodioritic intrusion complex. The deposit comprises a network of centimetre- to meter-scale northeast-trending shear zones hosting high-grade gold mineralization. Surrounding the shear zones are areas of lower-grade gold mineralization associated with less intense shearing and more brittle deformation. This includes veining in both the intrusion rock and adjacent wall rocks between the shear zones. Mineralization is associated with pyrite, sericite and chlorite alteration and millimetre- to centimetre-scale irregular quartz-carbonate veinlets.

East Coldstream Deposit Geology

The East Coldstream Deposit is a structurally controlled gold deposit located approximately 13 km northeast of the Moss Deposit within the Moss Gold Project area. The East Coldstream Deposit’s mineralized zones are located on the south margin of a shear zone that separates a gabbroic intrusion to the north and a mafic-intermediate volcanic suite to the south. Mineralization is found within sheared volcanic units, proximal to sills of quartz and quartz-feldspar porphyries and distinctive, brick-red syenites. The mineralized zones show silica, carbonate, and hematite alteration. Mineralization consists of fine disseminations of pyrite and lesser chalcopyrite throughout the silica-hematite zones and within quartz-carbonate veinlets. Iron carbonate is present in areas proximal to strong silicification. A north-south-trending diabase dike has cut the two main mineralized zones.

Mineral Resource Methodology, Assumptions, and Cutoff Grades

Estimation Domains

APEX personnel comprehensively remodelled shear-hosted gold estimation domains at Moss and East Coldstream deposits using implicit modelling. The orientation of these domains is informed by a structural trend model derived from oriented core structural measurements. Additionally, APEX personnel developed an updated geological model to guide estimation domain modelling and facilitate density assignment by geological unit. The shear estimation domains are delineated by connecting intervals of mineralization that align with the structural trend and are predominantly within a single geological unit. Discontinuous and lower-grade gold mineralization associated with less intense shearing and more brittle deformation are captured within a grade shell with a nominal cutoff of 0.15 g/t Au.

The Granodiorite (IGD) unit at the Moss Lake Deposit is associated with zones of higher-grade mineralization. In the 2024 Moss Deposit MRE Update, modelled shear estimation domains are categorized as “Core Shears” or “Marginal Shears.” Core Shears, continuous along strike, represent higher-grade material within or adjacent to the IGD unit. Marginal Shears, in contrast, are shears positioned further from the IGD unit or within shear domains where lower-grade material is included to provide continuity along the structural trend. Core shears are characterized by more intense fracturing and extensive hydrothermal alteration than marginal shears. The Core and Marginal Shears classification merges short-range geological with longer-range structural continuity at the Moss Deposit.

In this 2024 model, more than 94% of the in pit block modelled gold mineralization tonnage above the cutoff grade is contained within the wireframed Core Shear and Marginal Shear domains. More than 96% of the block modelled gold mineralization in terms of metal content above the cutoff grade is also contained within the Core Shear and Marginal Shear domains.

Mineral Resource Methodology

Modelling was conducted in the Universal Transverse Mercator (UTM) coordinate space relative to the North American Datum (NAD) 1983 and UTM zone 15N (EPSG: 26915). The mineral resource block model utilized a block size of 3.0 m (X) x 3.0 m (Y) x 3.0 m (Z) to honour the mineralization wireframes. The percentage of the volume of each block below the bare earth surface, below the modelled waste overburden surface and within each mineralization domain was calculated using the 3D geological models and a 3D surface model. For the open pit resources, the block model was block-averaged up to a 9 m (X) x 9 m (Y) x 9 m (Z) SMU block size for pit optimization with the outer blocks on the boundaries of the domains diluted. Resources are presented as undiluted and in situ. The historical underground voids from Noranda’s 1980s exploration program have been removed from the MRE at the Moss Deposit.

The MRE is based on the combination of geological modelling, geostatistics and conventional block modelling using the Ordinary Kriging method of grade interpolation with locally varying anisotropy variogram models.

The Moss Project drillhole database consists of 538 drill holes that intersected the interpreted mineralization wireframes at the Moss Deposit and 156 drill holes that intersected the interpreted mineralization wireframes at the East Coldstream Deposit for a total of 738 Drill Holes used in the Mineral Resource Estimate. Gold assays were composited to 2-meter composite lengths, and the estimation utilized 31,149 composited samples. A total of 1.8% of the total drilled meters inside the interpreted mineralization wireframes were not sampled, assumed to be waste, and assigned a nominal waste value of half the detection limit of modern assay methods (0.0025 g/t Au).

Gold estimation was completed using ordinary kriging. The search ellipsoid size used to estimate the Au grades was defined by the modelled variograms. Block grade estimation employed locally varying anisotropy, which uses different rotation angles to define the principal directions of the variogram model and search ellipsoid on a per-block basis. Blocks within estimation domains are assigned rotation angles using a modelled 3D mineralization trend surface wireframe, which allows structural complexities to be reproduced in the estimated block model. The number of variogram structures, contributions of each structure, and their ranges are set per estimation domain and do not vary within the estimation domain.

A total of 2,812 bulk-density samples are available from the Moss Project drillhole database. APEX personnel performed exploratory data analysis of the bulk density samples available, and the density was assigned for each geologic unit modelled within the Moss Lake Deposit and East Coldstream Deposit areas. The density of the deposits ranged from 2.68 g/cm³ to 2.89 g/cm³. The modelled overburden was assigned a density of 1.8 g/cm³.

Mineral Resource Classification

The Moss Gold Project MRE has been classified as an Indicated and Inferred Mineral Resource. This resource classification reflects that much of the drill hole data used for the resource estimate is historical, and no QA/QC data or reports exist for most of these drill holes. Statistical assessment of historical data spatially near modern assay data support the use of the historical data in the mineral resource estimate including the indicated category of classification..

The resource is classified according to the CIM “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 29, 2019, and CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10, 2014.

Reasonable Prospects for Eventual Economic Extraction

The CIM guidelines for mineral resources require that reported mineral resources demonstrate reasonable prospects for eventual economic extraction (RPEEE). Table 4 outlines the cost parameters and other assumptions used to constrain the open-pit mineral resource statement and reporting cutoff. The resource block model underwent several pit optimization scenarios using Deswik’s Pseudoflow pit optimization. The resulting pit shell is used to constrain the reported open-pit MRE that reaches a maximum depth of approximately 510m and 340m in the Moss Deposit and East Coldstream Deposit, respectively.

Table 4: Open Pit RPEEE Cost and Parameter Assumptions

Costs and Geometry
Parameter	Unit	2024 MRE
Mining Waste	US$/ tonne waste	2.25
Mining Mineralized Material	US$/ tonne milled	3.00
Flotation Leach Processing	US$/ tonne milled	9.50
General and Administration	US$/ tonne milled	2.10
Slope	Degrees	50
Sale Price and Recoveries
Gold Recovery (Moss Lake)	Percent	90
Gold Recovery (East Coldstream)	Percent	95
Gold Price	US$/ozt	1850

The reported underground MRE is constrained within mining shapes assuming open-stope mining methods, a grade cutoff of 2.0 g/t Au, and the assumptions detailed in Table 5. The mining shapes were manually constructed, constraining continuous material above the gold cutoff that met the minimum thickness and volume requirements.

Table 5: Underground RPEEE Cost and Parameter Assumptions

Costs and Geometry
Parameter	Unit	2024 MRE
Mining	US$/ tonne removed	75
Flotation Leach Processing	US$/ tonne milled	9.50
General and Administation	US$/ tonne milled	2.10
Assumed Open Stope Dimensions (W x H x L)	Meters	1.5 x 10 x 20
Sale Price and Recoveries
Gold Recovery (Moss Lake)	Percent	90
Gold Recovery (East Coldstream)	Percent	95
Gold Price	US$/ozt	1850

Additional Exploration Potential

The modelled shears extend to much greater depth below the optimized open pit constraining the reported Moss MRE. The shears are also open along strike, beyond the modelled strike length of 5.7km. Historical drilling has intercepted gold mineralization over a total strike length of 8 km, which has been a focus of Goldshore’s 2023 soil geochemistry and structural mapping programs. This work suggests a series of en echelon “master shears” with a second prospective zone trending from just north of QES to the northeast beyond Span (Figures 2 to 4 and 8).

Furthermore, there remains potential for additional parallel shears with gold mineralization in historical drill holes up to 2.5km to the southeast of the Moss Deposit.

An additional 4 million tonnes of gold mineralization has been identified and modelled inside the conceptual open pit that is beyond the support distances required for Inferred or Indicated classification. This tonnage represents a target for future exploration drilling and resource development.

Similar to the Moss deposit, the modelled shears in East Coldstream extend to a greater depth below the optimized open pit constraining the reported MRE. The mineralization demonstrates a distinct shallow easterly plunge which has been successfully tested at depth by Goldshore drilling and represents potential for additional gold mineralization discoveries beneath the current defined MRE open pit (Figures 5 to 7).

Figure 8: Long section at the Moss Deposit showing gold mineralization in drillholes along strike and at depth looking northwest

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Next Steps

Goldshore will also continue an extensive program of relogging and resampling of all historical drill holes whose collars have been located and accurately surveyed. Where possible, these drill holes are also being surveyed using modern downhole surveying equipment. Resampling of historical drill core will continue, although most core blocks are now illegible rendering resampling impossible.

Pete Flindell, VP Exploration for Goldshore, said: “APEX have completed a thorough and objective review of the geology of the Moss and East Coldstream Gold Deposits, and the underlying drill database. Their implicit modelling of core and marginal shears has led to a more accurate model of the gold distribution. This has resulted in a significant improvement in the Mineral Resource Estimate, which can now form the basis for infill and step out drill planning, and a definitive PEA. Their work also highlights immediate potential to grow the MRE in and outside of the RPEEE pits.“

Qualified Person Statements

Mr. Michael Dufresne, M.Sc., P.Geol., P.Geo. and Mr. Warren Black, M.Sc., P.Geo are both considered independent “qualified persons” under NI 43-101 and are jointly responsible for the 2024 Moss Gold Project MRE Update. Mr. Dufresne and Mr. Black have prepared and approved the scientific and technical information related to the MRE contained in this news release.

Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, and a “qualified person” under NI 43-101 has also reviewed and approved the scientific and technical information contained in this news release.

Updated Technical Report

Details of the Moss Gold Project MRE will be provided in a technical report with an effective date of January 31, 2024, prepared in accordance with NI 43-101 standards, which will be filed under the Company’s SEDAR+ profile within 45 days of this news release. The Moss Gold Project MRE was prepared by independent mining consulting firm APEX Geoscience Ltd. in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM“) “Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines” dated November 29, 2019, and the CIM “Definition Standards for Mineral Resources and Mineral Reserves” dated May 10, 2014.

Results of the Company’s Annual General Meeting

The Company also announces that all matters proposed at the Annual General and Special Meeting (the “Meeting“) held on January 23, 2024 were approved. At the Meeting, shareholders of the Company voted in favour of setting the number of directors at six (6); as well as electing Galen McNamara, Brett Richards, Brandon Macdonald, Shawn Khunkhun, Joanna Pearson and Kyle Hickey as directors. The shareholders also approved the re-appointment of Davidson & Company LLP as the Company’s auditors, approved the adoption of a new omnibus incentive plan (the “Incentive Plan“) and provided disinterested approval ratifying a previous grant of restricted share units under the new Incentive Plan.

The new Incentive Plan replaces the existing stock option plan previously adopted by the Company, and allows for the grant of incentive stock options, restricted share units and deferred share units to a maximum of ten percent of the issued and outstanding share capital from time-to-time. For further information regarding the matters presented at the Meeting, or to review a copy of the new Incentive Plan, readers are encouraged to review the Company’s management proxy circular, a copy of which is available under the Company’s profile on SEDAR+.

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Gold Project located in Ontario. The Company is led and supported by an industry-leading management group, board of directors and advisory personnel. Goldshore is well-positioned and well financed to advance the Moss Gold Project through the next stages of exploration and development.

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 release.

For More Information — Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Project, the filing of a technical report supporting the MRE, commencement of a preliminary economic assessment and prefeasibility study, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; the impact of COVID-19; the ongoing military conflict in Ukraine; and other risk factors outlined in the Company’s public disclosure documents.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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F3 Intersect Off-Scale Radioactivity in First Hole of Winter Drilling at PLN

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Post date February 5, 2024

Original Source: https://clients.haywood.com/uploadfiles/secured_reports/FUUJan302024.pdf?inf_contact_key=e889c570962d4be10d7e1661d9753a68680f8914173f9191b1c0223e68310bb1

Base Metals Energy Junior Mining Rover Metals

Rover Appoints New President and Director

Post author By admin
Post date February 5, 2024

VANCOUVER, BC / ACCESSWIRE / February 5, 2024 / Rover Critical Minerals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce the appointment of a new President and Director to the Company. Further to its release of July 10, 2023, Mr. Paddy J. Moylan has been promoted from Business Development Advisor, to both Director and President of the Company.

Judson Culter, CEO at Rover Metals, states “In 2023 we saw the expansion of Rover Metals into Australia as part of our strategic growth plans with the appointment of Mr. Paddy J. Moylan as our Business Development Advisor (Australasia). Now in 2024, I am thrilled to announce that Mr. Moylan has accepted the role as President and Director at Rover. Australians are world leaders in the mining of lithium and other critical minerals. The appointment of Mr. Moylan confirms that Rover intends to be a Lithium and Critical Minerals producer.”

Paddy Moylan, President, Director

Paddy Moylan holds combined Bachelor of Commerce and Law degrees and a graduate diploma in legal practice. He has been a lawyer for over 20 years. He is a significant investor in battery metals in Australia and internationally. Mr. Moylan has developed a large network in the battery metals space as an early investor in lithium. He has successfully advised companies on project acquisition, development, divestment and corporate advisory.

Mr. Moylan says “I have been impressed with the board and Judson’s leadership over the last seven months. The market has not been positive, but we have a developing project that we are working hard on. I am excited by this opportunity, and I look forward to working hard to grow the company’s value proposition to investors and partners. I will also be focused on the value-add to the Company in terms of our project line-up and investor base. Battery Metals and Critical Minerals are the future of the mining industry. Whilst we are at the lower end of the cycle, it is the time to ensure Rover is set for success and I will have a laser like focus on doing just that. I look forward to meeting with and talking to investors as we develop Rover as a leading critical minerals company.”

The appointment of Mr. Moylan as President and Director of the Company is subject to final approval by the Toronto Venture Exchange (the “TSXV”). An updating release will be provided once the TSXV provides their acceptance.

About Rover Metals

Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of the U.S. and Canada.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals

LinkedIn: https://www.linkedin.com/company/rover-metals/

Facebook: https://www.facebook.com/RoverMetals/

for daily company updates and industry news, and

YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber

for corporate videos.

Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS

“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Rover’s actual results, performance, achievements, or developments in the industry to differ materially from the anticipated results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

SOURCE: Rover Critical Minerals Corp.

View the original press release on accesswire.com

Base Metals Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Assays 480 Ounces per Ton Silver (14,929 Grams/ Ton) from Vein in New Zone1

Post author By admin
Post date February 5, 2024

Burlington, Ontario–(Newsfile Corp. – February 5, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce the assay results from its last blast prior to MSHA inspection and training. Select material collected from the vein assayed as high as 480 ounces per ton silver (see photo).

Sample from Vein in Zone1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/196782_0f0cda66640568e2_001full.jpg

Random samples of the muck pile associated with that blast assayed 7.0, 3.8, and 8.0 ounces per ton silver. These random samples were not hand selected for grade but were taken directly from the raw material in pails to determine the mineralization in the blast muck. The Company continues to see an increase in the grade of the muck assays with each round, and reasonably believes the grade could continue to increase with each advancing round.

The main reason for this belief is the assay results from that area, which include the December 11, 2023 results of the concentrates averaging 24.2 ounces per ton (829.7 grams/tonne) silver, with the high grade line on the shaker table then assaying at 334 ounces per ton (11,451.5 grams/tonne). The Company also relies on the high grade silver results reported in its November 11, 2023 press release, and upon other internal assay results which have not been disclosed. As previously disclosed, the Company continually runs its own production assay lab and not all assay results, whether lower or higher than those above, have been or will be disclosed.

This material when combined with the high-grade material should provide excellent feed material to the mill.

SBMI is also pleased to advise its MSHA training has been completed and approved. The field team was back at the mine and mill sites making the necessary changes required by MSHA, and plans to commence production upon completion of those changes. The Company will provide a projected production schedule in the near future.

The Company is pleased with both the continued improvement in the head grade at the mine as well as the successful completion of its MSHA training and approval.

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; 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 pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196782

Junior Mining Precious Metals

Emperor Metals Renews Option on Duquesne West Gold Project

Post author By admin
Post date February 2, 2024

Vancouver, British Columbia–(Newsfile Corp. – February 2, 2024) – EMPEROR METALS INC. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor” or the “Company“) is pleased to announce that it has paid Duparquet Assets Ltd., a private company owned 50% by Globex Mining Enterprises (“Globex”), the second year’s option payment to maintain Emperor’s option on the Duquesne West property in Duparquet township, Quebec, NTS-32D06. The option renewal for 2024 consisted of a $500,000 cash payment and the issuance of 2,583,119 common shares of Emperor equivalent to $300,000 based upon a 20-day volume weighted average price.

During 2023, Emperor undertook a 14-hole drill campaign and relogged 3,000 samples of historical core as part of a program focused on outlining a near surface lower grade open pittable gold deposit rather than an underground higher grade mine. Pursuant to previous press releases, Emperor has announced both high grade and low grade intersections building upon the Company’s open pit model. Additional drill hole results are pending and the 3,000 metres of historical core samples are being prepared to submit for assay.

The Duquesne West property straddles the Porcupine-Destor gold localizing fault several kilometres east of the town of Duparquet, Quebec. A number of previous drill campaigns have outlined a historical inferred resource of 4.17 million tonnes grading 5.42 g/t Au (cut) or 6.36 g/t Au (uncut) as reported in the NI 43-101 report “Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada” by Watts, Griffis and McOuat, David Power-Fardy, M.Sc., Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer dated October 20, 2011. This report is available on Globex’s website and is considered relevant and reliable. A “qualified person” as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. The Company is not treating the historical estimate as current mineral resources or mineral reserves.

The technical information in this press release was reviewed and approved by John Florek, P. Geo., President and CEO of Emperor in his capacity as the Company’s “qualified person.” For further information on the Duquesne West Property see Emperor’s press release dated October 12, 2022, available on SEDAR.

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/ “Alexander Horsley”
Alexander Horsley,
Director

For further information, please contact:

Mr. Alexander Horsley
Phone: 778-323-3058
Email: info@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/196673

Base Metals Junior Mining Precious Metals

Terra Balcanica Intercepts 551 g/t AgEq Over 4.8 m At Cumavici Ridge in Bosnia and Herzegovina

Post author By admin
Post date January 31, 2024

News Release Video: Terra Balcanica produced a technical webinar to explain the drill results

Vancouver, British Columbia, Jan. 30, 2024 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the final geochemical assay results from the Phase II drill campaign at Cumavici Ridge confirming continuation of the high-grade epithermal vein mineralization at the Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Drillhole CMV23001 intersected 551 g/t AgEq over 4.8 m from 11 m downhole with a further mineralized interval of 669 g/t AgEq over 0.3 m from 31.60 m (Table 1);
Drillhole CMV23001 is located on the same platform as previously CMV23002b which returned 499 g/t AgEq over 3.8 m from 22 m reported (see Company news release 17 January 2024);
The Cumavici Ridge mineralization remains open and untested immediately northwest and down-dip to the southwest, which will be targeted by our 2024 Phase III drill program;
Further assay results from the 2023 Phase II drilling program are pending release, including 4 shallow drillholes at the Brezani Au skarn, which aim to add strike length to the previously reported 88.0 m at 0.61 g/t AuEq from surface (news release dated 24 January 2023).

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “Terra keeps on confirming average grades of over 500 g/t Ag Eq and average mineralization thicknesses of approximately 5-10 m of massive sulfides and associated Ag-Sb-Pb-Zn-Au mineralogy at Cumavici Ridge which is only one of six target zones along the 7.2 km corridor of vein-hosted epithermal mineralization. This zone is de-risked by drilling shallow, high grade silver mineralization at both the Cumavici Ridge and Joseva targets over 2.3 km apart. We are very excited to carry on adding to the existing mineralized horizon at Cumavici Ridge by testing it down dip to SW as well as along strike to NW while expanding drill campaign to Cumurnica and two other targets along the corridor in 2024.”

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq (g/t)
CMV23001	11.00	15.80	4.8	132	1.61	0.57	1.56	1.51	551
CMV23001	31.60	31.90	0.3	106	0.47	0.28	3.22	1.00	669

Table 1. Assay results from drillhole CMV23001 of the Phase II drilling campaign. Interval lengths reported are drilled lengths, not true widths. Silver equivalent (“AgEq”) is based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.

Figure 1. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023, 17 January 2024). Current drilling efforts confirm mineralization over 82 m NW/SE strike length. (WGS84/UTM Zone 34N; click here to view image).

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23001	360223.3	4888497.2	594.63	-85	050	61.7	98.8

Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Future Exploration Program
Further drilling efforts at Cumavici Ridge will aim to connect the shallow high-grade interval reported in this release to the 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m reported over 600 m to the northwest (see Company news release dated 5^th November 2023). The shallow, vein hosted system remains untested and open to the southwest down-dip which will also be targeted during the 2024 Phase III drilling.

Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay intervals reported for CMV23001. (Click here to view image)

Hole ID	Easting	Northing	Dip	Azimuth	Depth (m)	Comments
CMV23005	360232	4888411	-85	050	58.2	Ended before target depth
CMV23006	359917	4888823	-60	050	82.2	No visible mineralization
CMV23008	359865	4888914	-60	050	65.8	No visible mineralization
CMV23010	359770	4888949	-50	050	91.5	No visible mineralization
CMV23011	360225	4888446	-85	050	50.2	No visible mineralization
CMV23012	360245	4888471	-85	050	67.6	No visible mineralization

Table 3. Collar locations and comments for the remaining Cumavici Ridge phase II drillholes. Coordinates and elevation were taken using a differential GPS unit. (WGS84/UTM Zone 34N; click here to view image).

QAQC
Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO₃, KClO₃ and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 9% and investigated as part of the company’s quality assurance and quality control program.

Qualified Person
Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

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 Alex 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.

Base Metals Energy Junior Mining Rover Metals

Rover Metals to Change Its Name to Rover Critical Minerals

Post author By admin
Post date January 31, 2024

VANCOUVER, BC / ACCESSWIRE / January 31, 2024 / Rover Metals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce that it is changing its name to Rover Critical Minerals Corp. The name change marks the Company’s successful pivot into critical minerals exploration, a process which started in January 2022. Trading will commence under the new name on Monday February 5, 2024. The Company’s shares will continue to trade under the symbol ROVR on the TSXV; ROVMF on the OTCQB; and 4XO on the FSE.

New ISIN/CUSIP numbers reflecting the name change have been made eligible. The Company’s transfer agent, Computershare, can be contacted with any further questions. Effective Monday February 5, 2024, the Company’s will be launching a new website with a new URL of www.rovercriticalmierals.com. Officers and Directors of the Company will continue to use their existing emails and gradually migrate to new email domain over the coming months.

Judson Culter, CEO at Rover Metals, states “Management and Directors at Rover are doubling down on our pivot into critical minerals. We remain resolute in our focus on advancing the Let’s Go Lithium project in the Amargosa Valley of Nevada.”

LGL Project

The LGL project is a claystone sedimentary lithium project located in a flat playa in an ancient volcanic lakebed. The claim block, which is approximately 8,300 acres in size, includes several limestone-capped butte-like outcrop formations. As released on September 7, 2023, a successful Phase 1 surface sampling program has returned multiple high-grade surface lithium samples. The clay body, as it’s known today, is believed to have very little overburden, and at the southern boundary of the project the lithium rich clay is exposed at the surface, or above surface in butte outcrops. Project infrastructure includes hydro power lines on site, direct road access, access to the Union Pacific rail line, and the nearby town of Pahrump with a readily available work force.

LGL Property Map

Regional Geology

The project is located within the prolific southwest Nevada claystone lithium jurisdiction. LGL is located just 12 km away from the historic Franklin Wells hectorite (a rare lithium smectite mineral) deposit. Mining at Franklin Wells dates back to the 1920’s. The regional geology of the Amargosa Valley is a basin-and-range structure with the Greenwater Range and Funeral Mountains to the west and the Amargosa Desert to the east. The Greenwater/Funeral mountains are fault-controlled with narrow interior valleys and are bounded by broad, coalescing alluvial fans. The Greenwater/Funeral mountains are composed of lower Paleozoic marine and metamorphic rocks. LGL is located in a large basin of clay rich Tertiary lakebed sediments, the major host rock for the other lithium claystone deposits in the southwest Nevada lithium jurisdiction. Lhoist North America has been open pit mining the specialty clays in the area since 1974.

Later-stage company comparable claystone lithium projects in southwest Nevada include Century Lithium Corp.’s Clayton Valley project; American Lithium’s TLC project; Noram Lithium’s Zeus project, and Nevada Lithium’s Bonnie Claire project. All of the aforementioned companies are later-stage mining companies, with a NI 43-101 resource calculation.

About Rover Metals

Swiss Business Development Consultant

In May 2023, the Company hired a Switzerland, based consultant (the “Consultant”) to provide business development consulting services in the key mining markets of England, France, Germany, and Switzerland. The Consultant’s roles and responsibilities include traveling through-out central Europe representing the Company at mining events. Further to its release of May 26, 2023, the Company is issuing 150,000 common shares in the Company for services provided by the Consultant. The Consultant is independent (arm’s length) to the Company. The share-based payment is for the payment of consulting services for the period of October 1^st to December 31^st, 2023. The Company has received approval from the Toronto Venture Exchange to make the issuance, pursuant to the common shares bearing the standard four-month regulatory hold period from the date of issuance.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals

LinkedIn: https://www.linkedin.com/company/rover-metals/

Facebook: https://www.facebook.com/RoverMetals/

for daily company updates and industry news, and

YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber

for corporate videos.

Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS

“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:

Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

SOURCE: Rover Metals Corp.

View the original press release on accesswire.com

Base Metals Energy Junior Mining Project Generators

F3 Hits 2.05m Off Scale >65,535 CPS in First Hole of Winter Program at JR Zone

Post author By admin
Post date January 30, 2024

Kelowna, British Columbia–(Newsfile Corp. – January 30, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3” or the “Company“) is pleased to announce initial scintillometer results from the first completed drill hole of the current winter drill program on the Patterson Lake North (“PLN”) Property, which includes two high-grade intercepts. Drill hole PLN24-116 tested for mineralization between PLN23-061 (see NR dated May 15, 2023) and PLN23-074 (see NR dated November 13, 2023) on section line 075S and intersected mineralization within a 16.5m interval including 2.05m of off scale radioactivity (>65,535 cps), 1.80m of which is continuous. A thin, lower mineralized zone up to 23,600 cps starting at 272.00m was also intersected and marks the first intersection of strong radioactivity below the JR Zone.

A second diamond drill has also begun coring on the JR Zone before moving approximately 3km grid south to start exploration in the B1 area where drill holes from last year provided strongly encouraging results including significant alteration, structures and highly anomalous geochemistry.

As the Dias 3D resistivity survey is days away from being completed, preparations are underway at site for the next phase of ground geophysics. A stepwise moving loop time domain electromagnetics (SWML) survey totaling approximately 60 line-km will be conducted over the B1 area, with ideal loop size parameters to properly resolve the basement hosted B1 conductor. This new survey will update and refine the Company’s electromagnetic plate model, which will then be integrated with the resistivity data to provide additional drill targets.

Drilling Highlight:

PLN24-116 (line 075S):

16.5m mineralization from 224.0m – 240.5m, including
- 6.05m composite high-grade radioactivity (> 10,000 cps) between 224.85 and 232.40m, including
- 2.05 composite off-scale radioactivity (> 65,535 cps) between 227.00 and 231.25m, and
- 0.5m mineralization from 272.00m – 272.5m with up to 23,600 cps

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials. Samples from the drill core are split in half on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.

All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

Table 1. Drill Hole Summary and Handheld Spectrometer Results

Collar Information							* Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum)				Athabasca Unconformity Depth (m)	Total Drillhole Depth (m)
Collar Information													Hole ID	Section Line	Easting	Northing	Elevation	Az	Dip	From (m)	To (m)	Interval (m)	Max CPS
PLN24-116	075S	587757.9	6410697.1	546.0	54.6	-64.9	224.00	224.50	0.50	3100														196.0	311
							224.50	224.85	0.35	4200
							224.85	225.00	0.15	14600
							225.00	225.50	0.50	4600
							225.50	226.00	0.50	24100
							226.00	226.50	0.50	20200
							226.50	227.00	0.50	22200
							227.00	227.50	0.50	>65535
							227.50	228.00	0.50	>65535
							228.00	228.50	0.50	>65535
							228.50	228.80	0.30	>65535
							228.80	229.00	0.20	63500
							229.00	229.50	0.50	37800
							229.50	230.00	0.50	3000
							230.00	230.50	0.50	8600
							230.50	231.00	0.50	51800
							231.00	231.25	0.25	>65535
							231.25	231.50	0.25	61000
							231.50	232.00	0.50	58700
							232.00	232.40	0.40	31200
							232.40	232.50	0.10	4100
							232.50	233.00	0.50	2500
							233.00	233.50	0.50	5800
							233.50	234.00	0.50	1800
							234.00	234.50	0.50	530
							234.50	235.00	0.50	450
							235.00	235.50	0.50	310
							235.50	236.00	0.50	1100
							236.00	236.50	0.5	690
							236.50	237.00	0.5	500
							237.00	238.50	1.5	<300
							238.50	239.00	0.5	670
							239.00	239.50	0.5	<300
							239.50	240.00	0.5	300
							240.00	240.50	0.5	350
							272.00	272.25	0.25	23600
							272.25	272.50	0.25	2900

Handheld spectrometer composite parameters:

1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp:

F3 Uranium is advancing the newly discovered high grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become the next Uranium producer and home to large uranium deposits including Tiple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.

Contact Information

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD

“Dev Randhawa”
Dev Randhawa, CEO

See cross section at PLN JR Zone|F3 Uranium Corp. under “Sections”

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, the intention to spin out the Properties; the creation of F4; the Arrangement, including timing thereof; the transfer of the Properties and the distribution of shares pursuant to the Arrangement; the intention to list the shares of F4 on the TSXV; F3’s proposed strategic investment into F4; the Arrangement being subject to court, TSXV and shareholder approvals; the preparation and delivery of a management information circular setting forth details of the Arrangement; the completion of the Spin-Out and the Listing; the potential benefits to shareholders and other matters relating to the Arrangement. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; court, TSXV and shareholder approval for the Arrangement; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196151

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX acquires a royalty over the Mustajärvi gold discovery in Finland

Post author By admin
Post date January 30, 2024

Vancouver, British Columbia–(Newsfile Corp. – January 30, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of a purchase agreement with Aurora Exploration OY (“Aurora”), a private Finish company, for Aurora’s royalty interest covering the Mustajärvi gold project in Finland (the “Project”). The Mustajärvi project is located in the prolific Central Lapland Greenstone Belt in northern Finland, which hosts several recent gold discoveries as well as the Kittila Gold Mine, operated by Agnico Eagle Mines Ltd. The Mustajärvi project is currently being advanced by Firefox Gold Corporation (“Firefox”).

The Mustajärvi project was originally acquired by Aurora in 2017 and subsequently sold to Firefox. Further exploration and drilling by Firefox led to the discovery of significant gold mineralization within the Project area (see various news releases by Firefox between 2018 and 2023). As part of the transaction with Firefox, Aurora retained a 1% NSR royalty, to be acquired by EMX. Half of the NSR royalty (0.5%) can be repurchased by Firefox for US$500,000 upon receipt of a positive feasibility study. Further information on the project can be found at Firefox’s website (www.firefoxgold.com) and in the Project’s 2018 NI-43-101 Technical Report, which has been filed on SEDAR.

Firefox recently announced a partnership with Agnico Eagle Mines Ltd, including a private placement into Firefox (see Firefox News Release dated December 20, 2023). In its announcement, Firefox reported that proceeds from the private placement will be used to further advance and drill the Mustajärvi project.

Commercial Terms Overview: As consideration for the royalty interest, EMX has paid Aurora US$80,000 and will issue 30,000 common shares of the Company to Aurora, subject to receiving final acceptance from the TSX Venture Exchange. These are the sole considerations for the purchase of the royalty.

Overview of the Project. The Mustajärvi project is located in Northen Finland in the Central Lapland Greenstone Belt and is hosted within the Mustajärvi shear-zone (MSZ). The MSZ lies between the regional Venejoki and Sirkka shear zones, which host numerous gold occurrences and deposits including Rupert Resources’ recent Ikkari gold discovery.

Gold mineralization at Mustajärvi appears to be developed within “dilational jogs” along the MSZ. Drill defined zones of mineralization have now been reported over a 2.1km trend. The mineralization chiefly occurs as quartz-carbonate-tourmaline veins along contacts between intercalated siliciclastic meta-sediments and mafic-ultramafic volcanic rocks, a common control of gold mineralization in the region. The currently defined zones of mineralization remain open along strike at both ends of the trend as well as at depth.

Recent exploration activities concentrated on the “East Target”, where Firefox reported the discovery of a new zone of gold mineralization in 2022-2023. Drill intercepts in the East Target include hole 22MJ006 with 13.85 meters of 28.74 g/t Au from an in-hole depth of 24.15 meters, 22MJ021 with 15.5 meters of 13.09g/t Au from an in-hole depth of 11 meters and hole 23MJ004 with 20.45 meters of 5.14 g/t Au from an in-hole depth of 12 meters¹. Elsewhere on the property, significant intercepts include drill hole 21MJ010 with 16.45 meters at 7.69 g/t Au from an in-hole depth of 154.15 meters¹. Firefox and previous explorers have drilled a combined total of 14,158 meters on the property so far.

Comments on Nearby and Adjacent Properties. The deposits, projects and mines discussed in this news release provide context for the 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 that specializes in generating and acquiring royalty interests. 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 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 reserves 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 September 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 of the Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/196134_652a150a5422085b_002full.jpg

¹ In its news releases dated September 9, 2021, September 6, 2022, January 18, 2023 and July 18, 2023 Firefox has reported that “drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geologic modelling.” Although these results were reported in compliance with NI43-101 protocols and are believed to be reliable and relevant, EMX has not performed sufficient work to verify the published assay results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196134

Base Metals Exclusive Interviews Junior Mining Precious Metals

Dolly Varden | High-Grade Results from Homestake Silver (Video)

Post author By admin
Post date January 30, 2024

In this interview we sit down with Shawn Khunkhun the CEO of Dolly Varden Silver (TSX.V: DV | OTCQX: DOLLF) to discuss the disconnect with Silver and Silver Equities, the latest news regarding more high-grade Silver results from the Homestake Silver Deposit, and the recent consolidation with addition of the Big Bulk Copper-Gold Porphyry Project.

Tags #BobMoriarty, #DollyVarden, #EricSprott, #KitsaultValleyProject, #MauriceJackson, #ProvenAndProbable, #RickRule, #ShawnKhunkhun, DV, Fidelity, sprott, SprottGlobal

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

Author: admin

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Rover Metals to Change Its Name to Rover Critical Minerals

F3 Hits 2.05m Off Scale >65,535 CPS in First Hole of Winter Program at JR Zone

EMX acquires a royalty over the Mustajärvi gold discovery in Finland

Dolly Varden | High-Grade Results from Homestake Silver (Video)