Proven ProbableAuthor: admin
Vancouver, British Columbia–(Newsfile Corp. – November 9, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of US$356,718 in Q3 royalty proceeds from its Balya North royalty property in Türkiye, which is operated by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”), a private Turkish company. EMX holds an uncapped 4% net smelter return (“NSR”) royalty on metals production from Balya North, a newly commissioned lead-zinc-silver mine in the Balya Mining District of northwestern Türkiye. The Q3 royalty payment is markedly higher than any previous payment and reflects another quarter of accelerating production at Balya North (see Figure 1).
The Q3 royalty payment was based upon the processing of 161,133 tonnes of mineralized material from Balya North, averaging 1.63% lead, 1.24% zinc and 51 grams per tonne of silver. Production continues to ramp up at Balya North after EMX received its initial royalty payments from the Balya North Mine in September 2022 (see EMX news release dated September 15, 2022).
Balya North Lead-Zinc-Silver Deposit: The Balya North lead-zinc-silver deposit is situated in the historic Balya mining district of northwestern Turkey. Mining at Balya has taken place since antiquity, with several generations of historical operations. The Balya North property contains extensive zones of shear-zone hosted and carbonate replacement style (“CRD”) lead-zinc-silver mineralization developed in and around a series of dacite intrusions emplaced into a limestone-rich sedimentary sequence.
Esan acquired the EMX royalty property at the end of 2019 (See EMX news release dated January 7, 2020) and is a private Turkish company that operates nearly 40 mines and eight processing plants. Esan also operates a lead-zinc mine (“Balya Main”) and flotation mill on the property immediately adjacent to EMX’s Balya North royalty property. The mineralization at Balya North is effectively an extension of the mineralization currently being mined by Esan in the Balya Main deposit.
Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com
Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2023 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Figure 1: Royalty payments and production from Balya North Mine by quarter
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186699
Original Source: https://miningdigital.com/top10/Top-10-mining-podcasts-to-follow-in-2023?utm_id=LinkedIn+Newsletter+
For those wanting to learn more about mining and exploration from experts all across the field.
10. Behind the Scenes with Bryan
This podcast typically centres around the field of engineering and frequently explores topics related to mining, with a particular focus on issues such as mining waste management, geoscience, data management, and touches on ESG aspects such as women in mining.
The host, Bryan Ulrich, has over thirty years of experience in the field of engineering, project management, design, construction, analysis, and site investigation related to mining work, and has worked on a multitude of plant-site projects throughout his career.
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Hosted by Laura Cornish, the editor-in-chief of Mining Review Africa, the podcast features interviews with industry experts, mining executives, and other key stakeholders who discuss a range of topics related to the African mining industry.
Reaching an audience of over 50 000 influential mining authorities and key decision makers through a variety of channels, the podcast talks about everything from sustainable development across the mining sector in Africa through articles on project developments and the technology and financial models that drive them.
The podcast has an audience over 50,000 key stakeholders in the industry
8. Mining Minds
Mining Minds is a podcast that focuses on the mining industry in Canada, specifically in the province of Ontario. The podcast is produced by the Ontario Mining Association, a trade organisation that represents the mining industry in the province.
Drawing on their own experiences, the hosts take listeners on a journey through the lives of miners, the communities and companies that sustain them, and the unique lifestyles they embrace. The podcast will explore the vital role mining plays in our world while emphasising the crucial need for responsible mining practices that safeguard our environment and secure our future.
7. Exploration Radio
Hosted by a panel of industry experts, Exploration Radio is a podcast that focuses on the exploration of natural resources, including minerals, oil, and gas, the podcast is produced by a team of geoscientists and mining professionals who are passionate about exploration and the discovery of new resources.
Hosts talk to explorers about the challenges they have faced, what we stand to learn from them and how we can better prepare for the future.
6. Full Production with Peter Finn
Full Production with Peter Finn is a podcast that focuses on the mining industry in Australia. The podcast is produced by Newton Consulting, a consulting firm that specialises in the mining industry.
The podcast features interviews with industry experts, mining executives, and other key stakeholders who discuss a range of topics related to the Australian mining industry.
5. Network – Women in Mining South Africa
Covering everything from the importance of mentorship for women in mining to learning how to navigate male-dominated environments, the Women in Mining South Africa podcast supports the empowerment of women in the sector. The podcast features conversations with women who are leaders, entrepreneurs, professionals, and pioneers in the mining industry. Through their stories, listeners can gain insights into the challenges and opportunities that women face in the mining sector, and learn about the strategies and initiatives that are helping to promote gender equality and diversity in the industry.
WiMSA creates an empowering network to inspire, support, and develop the progression of women working in the South African mining industry
4. On the Rocks
Emily King, who is the Founder of Prospector, a geologist, and the Chief Innovation Officer for Analog Gold, hosts a podcast where she interviews special guests about the current state and the future of the mining industry.
The conversations take place over cocktails, and topics covered include space mining, deep sea mining, artificial intelligence, the state of the market, and tales of exploring remote mountains.
3. Proven and Probable
This US-based mining podcast, Proven and Probable, has been running since 2016 and has released hundreds of episodes, covering topics from gold and silver mining to battery metals and uranium.
The podcast is hosted by Maurice Jackson, who is a mining industry expert and the founder of Proven and Probable, a mining and exploration company.
Episodes cover a wide range of topics, including exploration techniques, mining methods, mineral economics, and investing strategies. Guests on the show share their experiences and expertise in these areas, and also provide their perspectives on current events and trends in the industry.
2. The Northern Miner Podcast
The Northern Miner is a pioneering podcast in the mining industry, with a legacy of over 100 years in serving mining and exploration professionals. The podcast is powered by crucial reports produced by the expert writing staff of The Northern Miner, which help inform the decision-making process of thousands of high-performing mining professionals worldwide.
Episodes of the podcast often cover news and events from around the world, including developments in mining hotspots such as Canada, Australia, and South America. Listeners can expect to hear discussions on topics such as new mining projects, mergers and acquisitions, commodity prices, and regulatory changes that impact the industry.
1. Dig Deep: The Mining Podcast
Coming in at number 1 is the Dig Deep Podcast. Episodes provide listeners with valuable information about the mining industry and how it is evolving, also highlighting emerging technologies and mining methods, as well as the impact of global events on the industry.
Hosted by Rob Tyson, mining head-hunter and founder and director of Mining International Ltd, the podcast features interviews with mining professionals, including geologists, mining executives, investors, and analysts, who share their insights and perspectives on the latest industry news and trends.
One of the unique features of the Dig Deep podcast is its focus on safety in the mining industry. The podcast often discusses safety initiatives and strategies, and provides insights into how mining companies are working to create safer working environments for their employees.
In this conversation we sit down Shawn Khunkhun the CEO of Dolly Varden Silver which has just announced another impressive discovery, this time on a step-out drill on the high-grade Wolf Vein Deposit, which is one of seven high-grade deposits on the Kitsault Valley Project, located in the prolific ‘Golden Triangle’ in British Columbia. Equally important, viewers will note that Hecla Mining has just increased their strategic position in Dolly Varden Silver with a $10,000,000 investment, which was consummated last week. Find out the details right here!
Learn More Here: THE NICKEL INSTITUTE
Categories
Gold Demand Trends Q3 2023
Q3 gold demand firmly above longer-term average
Central banks gold buying maintained a historic pace but fell short of the Q3’22 record. Jewellery demand softened slightly in the face of high gold prices, while the investment picture was mixed.
Gold demand (excluding OTC) in Q3 was 8% ahead of its five-year average, but 6% weaker y/y at 1,147t. Inclusive of OTC and stock flows, total demand was up 6% y/y at 1,267t.1
Net central bank buying of 337t was the third strongest quarter in our data series, although failed to match the exceptional 459t from Q3’22. Yet, demand from central banks y-t-d is 14% ahead of the same period last year at a record 800t.
Q3 investment demand of 157t, although 56% higher y/y, was weak relative to its five-year average of 315t. Global gold ETFs lost 139t in Q3 – a far smaller outflow than Q3’22 (-244t).
Bar and coin investment declined 14% y/y to 296t, although remained firmly above the five-year quarterly average of 267t. The y/y decline is largely the product of sharp falls in Europe.
OTC investment totalled 120t in Q3. This opaque source of demand was again evident as the gold price found firm support for much of Q3, despite ETF outflows and falling COMEX futures net longs.
Jewellery consumption softened slightly, down 2% y/y at 516t amid continued gold price strength. Jewellery fabrication was marginally more resilient, down 1% to 578t due to inventory build-up.
Fragile consumer electronics demand continued to undermine volumes of gold used in technology, which fell 3% y/y to 75t.
Mine production reached a record 971t in Q3, helping to lift total gold supply to 1,267t (+6% y/y). Recycling was also higher y/y, up 8% to 289t.
Gold demand in Q3: weaker y/y but healthy compared with its 10-year average
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer
Highlights
The LBMA (PM) gold price averaged US$1,928.5/oz during Q3. Although 2% below the record high seen in Q2, this was 12% higher y/y. Several countries saw higher local gold prices due to currency weakness against the US dollar, including Japan, China and Turkey.
Y-t-d, central bank net buying of gold is 14% ahead of 2022. Central banks have bought a net 800t of gold so far this year, the highest on record for that nine-month period. While there is a nucleus of committed regular buyers, the range of countries whose central banks have added to their reserves over recent quarters is broad-based.
Investment demand is mixed y-t-d. Bar and coin investment is broadly in line with Q1-Q3 last year, thanks to H1 strength in the Middle East, Turkey and China. Gold ETFs, in contrast, have seen outflows of 189t so far this year, and have now registered six successive quarters of negative demand.
After a record Q3, mine production also reached a new y-t-d high of 2,744t. This puts a new annual record within reach for 2023. The y-t-d supply of recycled gold is also higher at 924t (+9%). Although this element of supply has been supported by elevated gold prices, it has been capped by economic resilience in the US and a strong investment motive in the Middle East.
Gold supply and demand
| Tonnes | Q3’22 | Q4’22 | Q1’23 | Q2’23 | Q3’23 | y/y change | |
| Supply | |||||||
| Mine production | 949.1 | 946.7 | 860.2 | 912.7 | 971.1 |  | 2% |
| Net producer hedging | -26.8 | -13.6 | 37.1 | -19.5 | 7.2 | | – |
| Recycled gold | 268.3 | 290.7 | 312.0 | 322.9 | 288.8 | | 8% |
| Total Supply | 1,190.6 | 1,223.8 | 1,209.3 | 1,216.1 | 1,267.1 | | 6% |
| Demand | |||||||
| Jewellery fabrication | 582.6 | 601.9 | 512.4 | 492.8 | 578.2 |  | -1% |
| Jewellery consumption | 525.7 | 628.5 | 474.8 | 475.8 | 516.2 | | -2% |
| Jewellery inventory | 56.9 | -26.7 | 37.6 | 17.0 | 62.1 | | 9% |
| Technology | 77.3 | 72.1 | 70.1 | 70.4 | 75.3 | | -3% |
| Electronics | 63.5 | 57.9 | 56.1 | 56.4 | 61.1 | | -4% |
| Other Industrial | 11.3 | 11.7 | 11.6 | 11.6 | 11.8 | | 4% |
| Dentistry | 2.5 | 2.4 | 2.4 | 2.4 | 2.3 | | -6% |
| Investment | 100.5 | 247.4 | 274.3 | 255.7 | 156.9 | | 56% |
| Total bar & coin demand | 344.2 | 336.6 | 303.0 | 276.8 | 296.2 | | -14% |
| Physical Bar demand | 225.1 | 222.2 | 183.3 | 163.8 | 205.9 | | -9% |
| Official Coin | 86.2 | 85.5 | 94.9 | 87.2 | 54.9 | | -36% |
| Medals/Imitation Coin | 33.0 | 28.9 | 24.7 | 25.8 | 35.4 | | 7% |
| ETFs & similar products | -243.7 | -89.2 | -28.6 | -21.1 | -139.3 | | – |
| Central banks & other inst. | 458.8 | 382.1 | 287.7 | 174.8 | 337.1 | | -27% |
| Gold demand | 1,219.2 | 1,303.5 | 1,144.5 | 993.7 | 1,147.5 | | -6% |
| OTC and other | -28.6 | -79.7 | 64.7 | 222.4 | 119.6 | | – |
| Total Demand | 1,190.6 | 1,223.8 | 1,209.3 | 1,216.1 | 1,267.1 | | 6% |
| LBMA Gold Price, US$/oz | 1,728.9 | 1,725.9 | 1,889.9 | 1,975.9 | 1,928.5 | | 12% |
Source: Metals Focus, Refinitiv GFMS, ICE Benchmark Administration, World Gold Council
Note: For an explanation of these terms, please see the Notes and definitions
Source: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q3-2023
(Kitco News) – September was another banner month for gold purchases by the world’s central banks, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council.
“Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 77t in September,” Gopaul said in an update on Thursday. “Gross sales (1t) were dwarfed by gross purchases (78t), highlighting the strength of buying.”
Gopaul noted that the central banks who have been regular buyers so far this year dominated purchases once again last month.
“Major buyers were all from emerging markets,” he said. “The People’s Bank of China added the most gold during the month (26t), followed by the National Bank of Poland and the Central Bank of Uzbekistan.”
Turkey and India were also major buyers last month, with the former also purchasing 15 tonnes of gold in August as it continues to rebuild its reserves following significant selling in April and May, while the latter has made a splash in recent months.
Looking at the year-to-date totals, Gopaul noted that “the People’s Bank of China remains the largest gold purchaser in 2023,” and that the central banks of emerging market countries “have been the driving force on both the purchases and sales side.”
“The Monetary Authority of Singapore remains the sole developed market bank adding gold to its reserves,” he said, and pointed out that (the addition by the European Central Bank) “was related to Croatia joining the eurozone in January,” and did not represent the buying intentions of the central bank itself.
According to the WGC’s recent Gold Demand Trends report, year-to-date central bank net buying of gold is 14% ahead of 2022. “Central banks have bought a net 800t of gold so far this year, the highest on record for that nine-month period,” the report said. “While there is a nucleus of committed regular buyers, the range of countries whose central banks have added to their reserves over recent quarters is broad-based.”
The 337t of gold purchased by central banks in Q3 “was the third strongest quarter in our data series, although [it] failed to match the exceptional 459t from Q3’22,” the analysts noted.
For Kitco News
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Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
Vancouver, British Columbia–(Newsfile Corp. – November 6, 2023) – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from the Wolf Vein. Drill hole DV23-375, an 81 meter step-out from mineralization encountered in 2022 and 50 meters below DV23-268 (Sept. 11, 2023 news release) that intersected a wide breccia vein zone. In addition, initial drilling at the Moose Vein, 1.5 kilometers North of Wolf, intersected silver mineralized veining similar to the system at Wolf.
Highlights from the Wolf Vein drilling include:
- DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters, including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter from an 81 meter step-out
- DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over 18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09% Zn) over 0.50 meters
Highlights from initial drilling at the Moose Vein, located 1.5 kilometers from Wolf Vein within the 5.4 kilometer long belt of silver mineralization **:
- DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length interval averaging 269 g/t Ag
1AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn, assays are uncut
Reported intervals are drill core length; true widths vary from 50 to 85% of core length interval. The dip of the Wolf Vein at depth, and the Moose Vein have insufficient data to define accurate dip (tables 1 and 2).
“The results we are seeing from the Wolf Vein continue to demonstrate depth continuity of the high-grade silver mineralization as well as an increase in base metal content,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver. “Drill hole DV23-375 has extended the plunge length to over 950 meters with increased thickness of the potentially underground bulk-mineable mineralization and it remains wide open for expansion. With over 70 drill holes remaining to be assayed and announced we eagerly await their results.”
A total of 51,454 meters was completed during 2023 in 115 drill holes at the Dolly Varden and Homestake Ridge areas with 23,923 of those from the Dolly Varden Project area. The Contractor’s drills have been demobilized and the exploration camp has been winterized. This release includes eight holes from Wolf and four holes from Moose. A total of 31 holes for 15,860 meters were drilled at Wolf in 2023.
Figure 1. Location of Wolf and Moose Veins as well as significant Silver and Gold Deposits of Dolly Varden’s Kitsault Valley Trend. Suggested 1.5km periodicity of cross-valley silver bearing veins
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_002full.jpg
Holes DV23-375 is an 81m step-out down plunge from drill hole DV22-320, that intersected 321g/t Ag over 12.85 meters (see Feb. 6, 2023 news release) and 50 meters below DV23-268 that intersected 381 g/t Ag over 29.34 meters (see Sept. 11, 2023 news release). Wolf Vein mineralization has consistent, high-grade silver mineralization within a wide multi phase vein breccia within a northeast-southwest oriented epithermal vein system. The mineralization and alteration encountered at the Wolf Vein system is becoming wider in the southwest step-outs and the dip of the system is steepening at depth.
Drill hole DV23-379 intersected silver mineralization 25 meters above DV22-320 and was planned infill between DV22-320 and DV23-368; this hole did not deviate as much as other holes typically do and thus intersected the Wolf Vein closer to DV23-320 than planned.
Initial holes at Wolf during the 2023 drill program tested between the widely spaced holes completed the previous season and successfully intersected the vein structure both within and peripheral to the southwest plunge of the high-grade silver mineralization. Drilling at Wolf during the 2023 program consisted of infill and testing for extensions to the high-grade silver mineralization.
Drill holes DV23-366, 367 and 370 are located on the northeast extension of the Wolf structure and encountered strong potassic alteration and narrow vein stockwork with anomalous lead and zinc associated with the extension of the Wolf structure.
Drill holes DV23-364 and 366 tested the limits outside of the wider and higher-grade silver shoot and encountered the Wolf structure with minor veining and strong alteration.
Figure 2. Wolf Vein Longitudinal section with plunge of high-grade silver mineralization and DV23-375 step-out,
assays received in this release shown in bold white
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_003full.jpg
Figure 3. Drill hole DV23-375 (743.00m to 768.25m) from the Wolf Vein hanging wall side; wide, multi-phase breccia vein style mineralization with argentiferous galena, argentite and native silver
To view an enhanced version of this graphic, please visit:
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Figure 4. Wolf Vein Plan View showing Drill Hole locations, A-A’ long section position, bold white this release.
To view an enhanced version of this graphic, please visit:
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Figure 3. Drill hole DV23-371 (141.75m) Moose Vein textures similar to Wolf Vein with silver sulfosalts and argentiferous galena in bands
To view an enhanced version of this graphic, please visit:
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Table 1. Complete Drill Hole Assays from Wolf Vein
| Hole ID | From | To | Length* (m) | Ag (g/t) | Pb (%) | Zn (%) | Au (ppm) | AgEq** (g/t) |
| DV23-379 | 719.89 | 738.10 | 18.21 | 247 | 0.40 | 0.73 | 287 | |
| Hanging Wall | 719.89 | 728.67 | 8.78 | 430 | 0.39 | 0.46 | 459 | |
| including | 724.30 | 724.80 | 0.5 | 1125 | 0.14 | 1.09 | 1170 | |
| Foot wall | 729.17 | 738.10 | 8.93 | 78 | 0.44 | 1.03 | 131 | |
| DV23-376 | 784.50 | 857.85 | 73.35 | 10 | 0.50 | 0.52 | 45 | |
| stkwrk | 784.50 | 845.12 | 60.62 | 5 | 0.28 | 0.57 | 35 | |
| including | 825.73 | 826.75 | 1.02 | 72 | 7.13 | 1.36 | 344 | |
| Hanging Wall | 845.12 | 852.60 | 7.48 | 34 | 2.47 | 1.02 | 149 | |
| Foot Wall | 852.60 | 857.85 | 5.25 | 31 | 0.20 | 0.35 | 50 | |
| DV23-375 | 747.16 | 774.15 | 26.99 | 296 | 1.68 | 3.01 | 461 | |
| Hanging Wall | 747.16 | 757.90 | 10.74 | 371 | 2.82 | 4.99 | 647 | |
| including | 751.80 | 752.30 | 0.5 | 1475 | 10.65 | 12.00 | 2260 | |
| Foot Wall | 765.75 | 774.15 | 8.4 | 328 | 1.38 | 1.96 | 445 | |
| DV23-370 | 52.67 | 53.17 | 0.5 | 102 | 0.41 | 0.06 | 117 | |
| and | 168.21 | 168.71 | 0.5 | 48 | 0.48 | 1.20 | 108 | |
| DV23-369 | 478.80 | 480.00 | 1.2 | 9 | 1.31 | 1.10 | 91 | |
| and | 512.63 | 513.13 | 0.5 | 21 | 0.14 | 4.85 | 209 | |
| DV23-367 | 68.75 | 69.30 | 0.55 | 119 | 0.12 | 0.08 | 126 | |
| and | 132.15 | 132.75 | 0.6 | 2 | 0.06 | 0.08 | 1.83 | 158 |
| DV23-366 | 107.85 | 108.35 | 0.5 | 67 | 1.30 | 0.05 | 110 | |
| and | 140.00 | 140.77 | 0.77 | 281 | 0.48 | 0.08 | 299 | |
| and | 207.75 | 208.55 | 0.8 | 32 | 1.67 | 0.40 | 99 | |
| DV23-364 | 263.61 | 289.33 | 25.72 | 7 | 0.37 | 0.22 | 27 | |
| including | 268.30 | 268.81 | 0.51 | 33 | 1.93 | 0.82 | 123 | |
| including | 269.70 | 270.56 | 0.86 | 21 | 3.46 | 0.87 | 161 |
Table 2. Complete Drill Hole Assays from Moose Vein
| Hole ID | From | To | Length* (m) | Ag (g/t) | Pb (%) | Zn (%) | Au (ppm) | AgEq** (g/t) |
| DV23-371 | 140.15 | 147.70 | 7.55 | 269 | 0.38 | 0.13 | 285 | |
| including | 144.00 | 145.00 | 1 | 712 | 0.29 | 0.19 | 728 | |
| and | 168.30 | 171.50 | 3.2 | 42 | 1.86 | 0.72 | 127 | |
| DV23-372 | 132.63 | 137.25 | 4.62 | 14 | 0.57 | 0.28 | 42 | |
| including | 133.30 | 134.50 | 1.2 | 24 | 1.76 | 0.94 | 114 | |
| DV23-373 | 73.90 | 74.66 | 0.76 | 27 | 1.64 | 1.10 | 120 | |
| 90.00 | 94.08 | 4.08 | 19 | 0.56 | 0.41 | 52 | ||
| DV23-374 | 30.60 | 32.35 | 1.75 | 39 | 0.93 | 1.17 | 112 |
* Intervals given are drill core length, true widths vary from 50 to 85% of core length interval. Assays reported are uncut.
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn
Table 3. Drill Hole Collars for 2023 Dolly Varden Wolf and Moose Area Drilling (this release)
| Hole ID | Easting | Northing | Elev. | Azimuth | Dip | Length |
| UTM83 (m) | UTM83 (m) | (m) | (m) | |||
| DV23-364 | 467227 | 6173773 | 385 | 140 | -60 | 474 |
| DV23-366 | 467283 | 6173984 | 517 | 115 | -45 | 225 |
| DV23-367 | 467351 | 6173891 | 496 | 120 | -45 | 250 |
| DV23-369 | 467013 | 6173643 | 383 | 130 | -61 | 675 |
| DV23-370 | 467278 | 6173906 | 448 | 120 | -45 | 213 |
| DV23-371 | 467141 | 6174889 | 750 | 170 | -55 | 181 |
| DV23-372 | 467141 | 6174889 | 750 | 198 | -60 | 240 |
| DV23-373 | 467283 | 6174746 | 726 | 320 | -45 | 151 |
| DV23-374 | 467283 | 6174746 | 726 | 30 | -45 | 133 |
| DV23-375 | 466780 | 6173610 | 481 | 130 | -56 | 846 |
| DV23-376 | 466780 | 6173610 | 481 | 128 | -60 | 888 |
| DV23-379 | 466815 | 6173693 | 446 | 136 | -56 | 849 |
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program for Dolly Varden on the Kitsault Valley Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedarplus.ca. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186352
Vancouver, British Columbia–(Newsfile Corp. – November 2, 2023) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that, further to its news release dated October 30, 2023, the Company completed the sale of 15,384,616 common shares of the Company to Hecla Canada Ltd. (“Hecla“) on November 1, 2023 at a price of $0.65 per Common Share for gross proceeds of $10 million (“Offering“). As a result of the Offering, Hecla has increased its shareholding in the Company to 15.7% from 10.6%, calculated on an undiluted basis.
No bonuses, finder’s fee or commissions were paid in connection with the Offering. The Common Shares issued pursuant to the Offering are subject to a four-month hold period from the closing of the Offering in addition to any other restrictions under applicable law.
In connection with the Offering, Dolly Varden has agreed with Hecla that the Company will not complete any further debt or equity financings for the remainder of 2023. Additionally, Dolly Varden has agreed that between January 1, 2024 and September 1, 2024, without the prior consent of Hecla, it will not complete any debt or equity financings other than equity financings for net proceeds to the Company of up to $15 million and provided that the issue price under such financing is greater than $0.65 per security. These restrictions do not capture customary exceptions such as the issuances of securities related to the Company’s equity based incentive compensation, the exercise of existing convertible securities and strategic transactions for non-cash consideration.
$6 million of the net proceeds from the Offering will be used for exploration expenditures, mineral resource expansion and related costs in the Kitsault Valley project, located in northwestern British Columbia, Canada, with the balanced to be used for working capital and G&A costs.
Hecla is considered a related party of the Company under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as a result of its ownership of more than 10% of the currently issued and outstanding Common Shares. As a result, the issuance of Common Shares to Hecla pursuant to the Offerings was a related party transaction. The Company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by Hecla does not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transaction 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time. Further details can be found in the material change report that will be filed by the Company in due course.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
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, the intended use of proceeds from the Offering, the future release of a material change report and other statements that are not historical facts. These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the use of proceeds of the Offering, the adequacy of the Company’s current financial position, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company on desirable and permitted terms, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information.
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 risk that the Company may not be able to complete the Offering on the terms described herein or at all; 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; and 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 risk factors identified herein are not intended to represent a complete list of factors that could affect the Company. For additional information on risks and uncertainties, see the Company’s annual information form dated April 11, 2023 for the year ended December 31, 2022 and the Company’s base-shelf prospectus dated April 25, 2023, both available on SEDAR+ at www.sedarplus.ca.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185969
North Vancouver, British Columbia–(Newsfile Corp. – November 2, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.
Assay results are presented here for infill and grade control drilling completed in the Zone 5 area of Tuvatu, which encompasses the near-surface portions of lodes UR1 to UR8, as well as URW2A and URW3. Grade control drilling is focused on the sections of lodes UR1, UR2, and URW3 that are scheduled for mining in early 2024, whereas infill drilling is focused on the parts of Zone 5 that are scheduled for mining in 2024 and 2025. Previous results from Zone 5 are available in the news releases dated June 14, 2023 and August 10, 2023.
Highlights of results (3.0 g/t cutoff):
- 90.76 g/t Au over 2.4 m (including 261.47 g/t Au over 0.6 m) (TUDDH-659, from 221.3 m depth)
- 18.56 g/t Au over 3.0 m (including 101.89 g/t Au over 0.3 m) (TGC-0081, from 92.1 m depth)
- 86.47 g/t Au over 0.6 m (TUDDH-672, from 141.1 m depth)
- 11.31 g/t Au over 3.9 m (including 65.29 g/t Au over 0.3 m) (TGC-0084, from 99.3 m depth)
- 46.78 g/t Au over 0.6 m (TUDDH-671, from 127.7 m depth)
- 38.75 g/t Au over 0.6 m (including 64.10 g/t Au over 0.3 m) (TGC-0107, from 136.2 m depth)
- 16.60 g/t Au over 1.2 m (including 24.37 g/t Au over 0.6 m) (TGC-0101, from 125.7 m depth)
- 31.56 g/t Au over 0.6 m (TUDDH-676, from 158.9 m depth)
- 51.76 g/t Au over 0.3 m (TUDDH-665, from 260.3 m depth)
Figure 1. Location of Zone 5 Infill and Grade Control Drillholes. Left image: Plan view of Tuvatu showing Zone 5 infill and grade control drillholes in relation to the mineralized lodes at Tuvatu. Drillholes are shown in black, mineralized lodes in pale grey, and underground developments in red. The yellow dashed square represents the area illustrated in the image on the right. Right image: Oblique view of Zone 5 infill and grade control drilling looking approximately northeast. Infill drilling was conducted from surface whereas grade control drilling was conducted from underground.
To view an enhanced version of this graphic, please visit:
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Table 1. Highlights of composited grade control and infill drill results in the Zone 5 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 4 in the appendix.
| Hole ID | From | To | Interval (m) | Au (g/t) | |
| TUDDH-659 | 221.3 | 223.7 | 2.4 | 90.76 | |
| including | 221.3 | 222.5 | 1.2 | 176.28 | |
| which includes | 221.3 | 221.6 | 0.3 | 83.62 | |
| and | 221.6 | 222.2 | 0.6 | 261.47 | |
| and | 222.2 | 222.5 | 0.3 | 98.55 | |
| TGC-0081 | 92.1 | 95.1 | 3 | 18.56 | |
| including | 92.1 | 92.4 | 0.3 | 101.89 | |
| and | 92.4 | 92.7 | 0.3 | 35.02 | |
| TUDDH-672 | 141.1 | 141.7 | 0.6 | 86.47 | |
| TGC-0084 | 99.3 | 103.2 | 3.9 | 11.31 | |
| including | 99.6 | 99.9 | 0.3 | 28.93 | |
| and | 100.8 | 101.1 | 0.3 | 65.29 | |
| TUDDH-671 | 127.7 | 128.3 | 0.6 | 46.78 | |
| TGC-0107 | 136.2 | 136.8 | 0.6 | 38.75 | |
| including | 136.2 | 136.5 | 0.3 | 64.10 | |
| and | 136.5 | 136.8 | 0.3 | 13.40 | |
| TGC-0101 | 125.7 | 126.9 | 1.2 | 16.60 | |
| including | 125.7 | 126.3 | 0.6 | 24.37 | |
| TUDDH-676 | 158.9 | 159.5 | 0.6 | 31.56 | |
| TUDDH-676 | 252.2 | 253.1 | 0.9 | 18.59 | |
| TUDDH-676 | 243.2 | 245 | 1.8 | 9.05 | |
| including | 243.2 | 243.8 | 0.6 | 19.87 | |
| TUDDH-665 | 260.3 | 260.6 | 0.3 | 51.76 | |
| TUDDH-657 | 109.6 | 111.1 | 1.5 | 9.32 | |
| including | 109.6 | 109.9 | 0.3 | 35.89 | |
| and | 110.8 | 111.1 | 0.3 | 10.25 | |
| TUDDH-674 | 130.7 | 131.9 | 1.2 | 11.65 | |
| including | 130.7 | 131.3 | 0.6 | 20.18 |
Zone 5
The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes at Tuvatu (UR1, UR2, UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several smaller lodes to the west of the main decline (URW2, URW2A, URW3). The lodes in Zone 5 are all steeply dipping structures. Zone 5 represents the upward extension of the Zone 500 feeder zone, where several lodes coalesce into a wide zone of very high-grade mineralization, such as 20.86 g/t Au over 75.9 m (TUG-141), 12.22 g/t Au over 54.90 m (TUDDH-601), and 17.52 g/t Au over 23.7 m (TUDDH-608). The Zone 5 lodes targeted in the current round of drilling are shown in Figure 2. The location of Zone 5 relative to Zone 500 is also shown in Figure 2.
Figure 2. Main Zone at Tuvatu. Left image: Plan view of Tuvatu identifying the lodes referenced in this report. Right image: Section view looking approximately northeast, showing the location of Zone 5 and Zone 500 relative to the lodes. Drillholes reported in this news release are shown in yellow for visibility.
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A total of 10 grade control and 10 infill drillholes are included in this release. The grade control drill program was conducted from underground and targeted the UR1, UR2, and URW3 lodes. The program was designed to provide a detailed understanding of the mineralization and geometry of these lodes both above and below the current underground developments. The grade control drillholes reported in this news release were drilled on 20 m centers. This will be followed up by additional grade control drilling to increase drill density to 10 m centers in advance of mining. The area targeted by these grade control drillholes is outside the current PEA mine plan but is being brought into the mine plan for 2024 based on drilling results. This part of Zone 5 is currently scheduled for mining in early 2024.
The infill drill program was conducted from surface and was designed to target the portions of lodes UR1 to UR7 located between the surface and the current underground developments. The purpose of the infill drill program is to increase knowledge and grade continuity in this area, and to further de-risk this portion of the deposit, which is scheduled for mining in 2024 and 2025. High-grade intercepts from the current round of Zone 5 grade control drilling are shown in Figure 3, while high-grade intercepts from the current round of Zone 5 infill drilling are shown in Figure 4. Examples of Zone 5 mineralization are shown in Figure 5.
Figure 3. Location of High-Grade Gold Intercepts from Zone 5 Grade Control Drilling, 3.0 g/t cutoff. High-grade gold intervals from Zone 5 grade control drillholes reported in this news release. The grade control drilling targeted sections of the UR1, UR2, and URW3 lodes above and below current underground developments, shown in grey. Composite intervals with grades between 3 and 10 g/t gold are shown in orange, grades between 10 and 30 g/t gold are shown in red, and grades over 30 g/t gold are shown in purple. Select high-grade intervals are identified. View is looking north.
To view an enhanced version of this graphic, please visit:
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Figure 4. Location of High-Grade Gold Intercepts from Zone 5 Infill Drilling, 3.0 g/t cutoff. High-grade gold intervals from Zone 5 infill drillholes reported in this news release. Composite intervals with grades between 3 and 10 g/t gold are shown in orange, intervals with grades between 10 and 30 g/t gold are shown in red, and intervals over 30 g/t gold are shown in purple. Select high-grade intervals are identified. View is looking approximately NNE.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/186094_75460e161458d8e2_004full.jpg
Figure 5. Example Mineralization from Zone 5 Infill and Grade Control Drilling. Top left: Monzonite-hosted silica-pyrite-sphalerite-galena veins (TGC-0096, 87.5 m). Top middle: Chalcedonic quartz veins with coarse pyrite cross-cutting potassically altered monzonite (TUDDH-658, 69.5 m). Top right: Breccia zone with coarse-grained honey sphalerite and pyrite (TUDDH-657, 109.7 m). Bottom left: Stockwork-style veining with diffuse alteration halos and pyrite, sphalerite, and galena. (TGC-0081, 92.3 m). Bottom middle: Stockwork-style silica-pyrite-sphalerite-galena veins within altered monzonite (TUDDH-668, 127.2 m). Bottom right: Close-up view of coarse-grained pyrite within a zone of stockwork-style silica-pyrite veining. Specks of visible gold are highlighted in the yellow circles, width of image is approximately 3.5 cm (TUDDH-672, 141.3 m). Core diameter is 4.76 cm in each photo.
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About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedarplus.ca.
Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).
About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“, Chairman and CEO
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-Looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appendix 1: Full Drill Results and Collar Information
Table 2. Composited results from grade control and infill drillholes in the Zone 5 area (grade >3.0 g/t Au)
| Hole ID | From | To | Interval (m) | Au (g/t) | |
| TGC-0081 | 92.1 | 95.1 | 3 | 18.56 | |
| including | 92.1 | 92.4 | 0.3 | 101.89 | |
| and | 92.4 | 92.7 | 0.3 | 35.02 | |
| TGC-0084 | 99.3 | 103.2 | 3.9 | 11.31 | |
| including | 99.6 | 99.9 | 0.3 | 28.93 | |
| and | 100.8 | 101.1 | 0.3 | 65.29 | |
| TGC-0086 | 82.3 | 84.1 | 1.8 | 3.98 | |
| TGC-0088 | 75.7 | 76.9 | 1.2 | 5.87 | |
| TGC-0093 | 99 | 99.9 | 0.9 | 4.65 | |
| TGC-0096 | 87.4 | 88 | 0.6 | 13.31 | |
| TGC-0098 | 104.8 | 105.1 | 0.3 | 5.19 | |
| TGC-0098 | 107.8 | 108.4 | 0.6 | 6.29 | |
| TGC-0098 | 111.4 | 111.7 | 0.3 | 6.18 | |
| TGC-0101 | 125.7 | 126.9 | 1.2 | 16.6 | |
| including | 125.7 | 126.3 | 0.6 | 24.37 | |
| TGC-0107 | 136.2 | 136.8 | 0.6 | 38.75 | |
| including | 136.2 | 136.5 | 0.3 | 64.1 | |
| and | 136.5 | 136.8 | 0.3 | 13.4 | |
| TGC-0107 | 138 | 139.2 | 3211.2 | 5.21 | |
| TUDDH-657 | 109.6 | 111.1 | 1.5 | 9.32 | |
| including | 109.6 | 109.9 | 0.3 | 35.89 | |
| and | 110.8 | 111.1 | 0.3 | 10.25 | |
| TUDDH-658 | 62.5 | 62.8 | 0.3 | 6.85 | |
| TUDDH-658 | 69.4 | 69.7 | 0.3 | 20.06 | |
| TUDDH-658 | 83.2 | 83.5 | 0.3 | 3.82 | |
| TUDDH-658 | 96.4 | 96.7 | 0.3 | 3.08 | |
| TUDDH-659 | 122.6 | 122.9 | 0.3 | 3.82 | |
| TUDDH-659 | 124.7 | 125 | 0.3 | 5.41 | |
| TUDDH-659 | 221.3 | 223.7 | 2.4 | 90.76 | |
| including | 221.3 | 222.5 | 1.2 | 176.28 | |
| which includes | 221.3 | 221.6 | 0.3 | 83.62 | |
| and | 221.6 | 222.2 | 0.6 | 261.47 | |
| and | 222.2 | 222.5 | 0.3 | 98.55 | |
| TUDDH-659 | 225.5 | 225.8 | 0.3 | 25.35 | |
| TUDDH-659 | 228.2 | 228.5 | 0.3 | 5.95 | |
| TUDDH-659 | 268.9 | 269.2 | 0.3 | 5.96 | |
| TUDDH-660 | 28.9 | 29.5 | 0.6 | 6.39 | |
| TUDDH-660 | 150.4 | 151 | 0.6 | 8.57 | |
| TUDDH-665 | 152.3 | 152.6 | 0.3 | 3.05 | |
| TUDDH-665 | 204.2 | 204.5 | 0.3 | 25.99 | |
| TUDDH-665 | 260.3 | 260.6 | 0.3 | 51.76 | |
| TUDDH-668 | 112.6 | 112.9 | 0.3 | 3.71 | |
| TUDDH-668 | 123.1 | 123.4 | 0.3 | 3.54 | |
| TUDDH-668 | 123.7 | 124 | 0.3 | 3.91 | |
| TUDDH-668 | 125.2 | 127.3 | 2.1 | 3.99 | |
| including | 126.7 | 127.3 | 0.6 | 10.25 | |
| TUDDH-668 | 138.1 | 138.4 | 0.3 | 5.28 | |
| TUDDH-671 | 127.7 | 128.3 | 0.6 | 46.78 | |
| TUDDH-671 | 143.6 | 144.2 | 0.6 | 6.83 | |
| TUDDH-671 | 242 | 242.3 | 0.3 | 6.53 | |
| TUDDH-672 | 141.1 | 141.7 | 0.6 | 86.47 | |
| TUDDH-672 | 149.5 | 149.8 | 0.3 | 4.15 | |
| TUDDH-674 | 130.7 | 131.9 | 1.2 | 11.65 | |
| including | 130.7 | 131.3 | 0.6 | 20.18 | |
| TUDDH-676 | 126.5 | 127.4 | 0.9 | 5.05 | |
| TUDDH-676 | 158.9 | 159.5 | 0.6 | 31.56 | |
| TUDDH-676 | 243.2 | 245 | 1.8 | 9.05 | |
| including | 243.2 | 243.8 | 0.6 | 19.87 | |
| TUDDH-676 | 252.2 | 253.1 | 0.9 | 18.59 | |
| TUDDH-676 | 254.6 | 254.9 | 0.3 | 3.33 | |
| TUDDH-676 | 256.1 | 257.6 | 1.5 | 6.02 | |
| including | 256.1 | 256.7 | 0.6 | 9.24 | |
| and | 257.3 | 257.6 | 0.3 | 10.46 |
Table 3. Collar coordinates for grade control and infill drillholes reported in this release. Coordinates are in Fiji map grid.
| Hole ID | Easting | Northing | Elevation | Azimuth | Dip | Depth |
| TGC-0081 | 1876384 | 3920627 | 129 | 95.0 | 1.2 | 107.1 |
| TGC-0084 | 1876384 | 3920626 | 128 | 94.2 | -13.1 | 121.6 |
| TGC-0086 | 1876383 | 3920626 | 130 | 105.6 | 20.2 | 126.6 |
| TGC-0088 | 1876384 | 3920626 | 129 | 99.2 | 10.5 | 121.3 |
| TGC-0093 | 1876383 | 3920627 | 129 | 72.1 | 11.4 | 121.0 |
| TGC-0096 | 1876383 | 3920627 | 129 | 86.4 | 11.3 | 115.4 |
| TGC-0098 | 1876384 | 3920627 | 127 | 88.3 | -28.3 | 131.6 |
| TGC-0101 | 1876383 | 3920627 | 127 | 89.1 | -41.1 | 196.9 |
| TGC-0106 | 1876384 | 3920626 | 127 | 96.3 | -20.3 | 130.1 |
| TGC-0107 | 1876383 | 3920628 | 127 | 60.4 | -38.2 | 176.2 |
| TUDDH-657 | 1876497 | 3920546 | 296 | 288.8 | -60.1 | 161.6 |
| TUDDH-658 | 1876496 | 3920546 | 296 | 299.6 | -40.2 | 122.2 |
| TUDDH-659 | 1876556 | 3920388 | 352 | 284.3 | -63.0 | 270.0 |
| TUDDH-660 | 1876477 | 3920295 | 402 | 328.2 | -61.5 | 156.1 |
| TUDDH-665 | 1876475 | 3920296 | 402 | 325.3 | -59.5 | 293.0 |
| TUDDH-668 | 1876496 | 3920546 | 296 | 283.0 | -69.2 | 170.0 |
| TUDDH-671 | 1876475 | 3920296 | 402 | 326.2 | -56.3 | 270.3 |
| TUDDH-672 | 1876496 | 3920546 | 296 | 273.6 | -74.1 | 180.0 |
| TUDDH-674 | 1876496 | 3920546 | 296 | 300.4 | -70.6 | 170.0 |
| TUDDH-676 | 1876476 | 3920296 | 402 | 332.7 | -57.2 | 287.6 |
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186094