Exploration and Drilling Update at the Eastern Borosi Project in Nicaragua
March 13, 2019 Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to provide an update for the 2019 exploration and drilling program on the Eastern Borosi Gold-Silver Project in Nicaragua (the “Project”). Exploration and drilling on the Project is currently being funded by Calibre’s joint-venture partner, IAMGOLD Corporation (“IAMGOLD”). Highlights
The 2019 drilling program consisting of an estimated 6,000 metres of diamond drilling has commenced and the first two drill targets consist of follow-up drilling on two successful high-grade Au-Ag discoveries from 2018 where drill intercepts include;
1.55 metres grading 54.68 g/t Au and 3,957 g/t Ag (179.11 AuEq) on the San Cristobal gold-silver vein-structure
4.38 metres grading 13.22 g/t Au and 9.5 g/t Ag (13.37 AuEq) from the Main structure on the La Luna gold-silver vein-structure and a second intercept in the same drill hole of 4.45 metres grading 4.96 g/t Au and 151.5 g/t Ag (7.29 AuEq) from a newly discovered Sulphide-Rich Zone.
President and CEO Greg Smith stated: “It is exciting to be starting the 2019 program at the Eastern Borosi Project, with follow-up drilling at the high-grade San Cristobal and La Luna gold-silver vein systems. Further, a series of high priority discovery drill targets with no previous drilling will be tested as part of the 2019 program.” 2019 Exploration and Drilling Program
The 2019 exploration program was initiated in January 2019 with target definition and advancement work consisting of soil and rock sampling as well as follow-up trenching designed to prioritize additional drilling targets for 2019. This work is advancing a series of targets defined by previous exploration and includes on-strike extensions to existing deposits and new areas which have not been previously drill tested.
The drilling program commenced in March 2019 and the first set of drill holes consist of follow-up drilling on two successful high-grade discoveries from the fourth quarter of 2018 – San Cristobal and La Luna (see table below).
Hole
ID
Mineralized
Zone
From
m
To
m
Length
(m)
AuEq
(g/t)
Au
(g/t)
Ag
(g/t)
Pb
(ppm)
Zn
(ppm)
SC18-002
San Cristobal
94.31
95.86
1.55
115.56
54.68
3,957
4,649
9,788
LL18-020
La Luna
Main Structure
127.16
131.54
4.38
13.37
13.22
9.5
70
158
Sulphide Zone
155.36
159.81
4.45
7.29
4.96
151.5
52,210
54,630
Notes: 1. Intervals are core lengths; true width are estimated to be 80-90% of core lengths. 2. Length weighted averages from uncut assays. 3. Grams per tonne (g/t) gold equivalent (AuEq) calculated using $1,300/oz Au and $20/oz Ag.
At San Cristobal, the follow-up drilling includes along-strike and down-dip step outs spaced at approximately 75 metre centers. At La Luna, drilling will test the lateral and vertical extensions of the Main Structure and Sulfide Zone structure.
Additional drilling is planned for the first half of 2019 on the Riscos de Oro SW extension target, approximately one kilometre south-west of the Riscos de Oro Deposit, part of a more than four kilometer trend, where previous soil and rock geochemistry, trenching, and linear topographic features provide a priority drill target.
The 2019 exploration and drilling program includes plans to complete an estimated 6,000 metres of diamond drilling, concurrent with target generative and advancement work. The drilling metres are projected to be evenly split between follow-up drilling and first pass discovery drilling.
In addition to the drilling, generative exploration is underway, including targeted soil sampling and surface rock sampling, over areas where previous work outlined anomalous gold and silver often associated with base metals. The results of the first six months will be reviewed and priority targets tested with first pass, discovery oriented, drilling in the second half of 2019. IAMGOLD / Calibre – Eastern Borosi Project
A 2018 resource estimate for the Project (see news release dated April 3, 2018) by Roscoe Postle Associates Inc. estimated an Inferred Mineral Resource totaling 4.42M tonnes grading 5.72 g/t AuEq (4.93 g/t Au and 80 g/t Ag) containing 812,000 ounces AuEq. Exploration to date has outlined kilometres of highly prospective mineralized structures located in a historic gold-silver mining district.
IAMGOLD has completed the First Option having made US$450,000 in payments to Calibre and completed US$5 million in expenditures and has earned a 51% interest in the Project. IAMGOLD has entered the Second Option with the right to earn a further 19% in the Project (by completing additional cash payments totalling US$450,000 and further exploration expenditures totaling US$5 million) having paid the first and second installments of US$150,000 each and funding the on-going 2019 work program. The total potential investment by IAMGOLD to earn a 70% interest in the Project is US$10.9 million. Calibre Mining Best Practice
Calibre is committed to best practice standards for all exploration, sampling and drilling. Drilling was completed by independent firm Continental Drilling. Analytical quality assurance and quality control includes the systematic insertion of blanks, standards and duplicates. Samples are placed in sealed bags and shipped directly to Bureau Veritas Lab in Managua, Nicaragua for sample preparation and then to Vancouver, Canada for 50 gram gold fire assay and ICP-MS multi element analyses. The technical content in this news release was read and approved by Gregory Smith, P.Geo, President and CEO of the Company who is the Qualified Person as defined by NI 43-101. About Calibre Mining Corp.
Calibre owns a 100% interest in over 518 km2 of mineral concessions in the Mining Triangle of Northeast Nicaragua including the Primavera Gold-Copper Project and Santa Maria Gold Project. Additionally, the Company has optioned to IAMGOLD (176 km2) and is party to a joint venture on the 33.6 km2 Rosita D gold-copper-silver project with Rosita Mining Corporation and Century Mining. Calibre’s resources total 2.44 million AuEq ozs of Inferred Resources in four deposits on the Borosi gold-silver projects – see web site for details. Major shareholders of Calibre include gold producer B2Gold Corp, Lukas Lundin and management. Calibre Mining Corp.
“Greg Smith” Greg Smith, P.Geo.
President and CEO
For further information contact:
Ryan King
604 628-1012 www.calibremining.com Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward Looking Statements This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements. Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. View in PDF Format
Fission 3 Completes Binding Earn-In Agreement for up to $22mm with Rhyolite
TSX VENTURE SYMBOL: FUU
KELOWNA, BC, March 13, 2019 /CNW/ – Fission 3.0 Corp. (“Fission 3” or the “Company“) is pleased to announce that, further to its news release on August 16, 2018, it has entered into a binding agreement (the “Earn-In Agreement“) with Rhyolite Lithium Corp. (“Rhyolite“), pursuant to which Rhyolite can earn up to an 80% interest in Fission 3’s mining concessions located in Peru (the “Peruvian Assets“) by spending up to C$22 million over a five-year period (the “Earn-In“).
Pursuant to the Earn-In Agreement, Rhyolite is required to spend a minimum of C$5.5 million prior to December 31, 2020 to earn a 50% interest in the Peruvian Assets (“Stage One“), and has the option to spend a further C$16.5 million over the following three years to earn an additional 30% interest in the Peruvian Assets (“Stage Two“). If Rhyolite does not complete Stage One, Rhyolite will earn no interest in the Peruvian Assets, and if it elects to begin, but does not complete, Stage 2, it will only be granted a portion of the additional 30% interest.
In connection with the entrance into the Earn-In Agreement, and as consideration for the Earn-In, Fission 3 was issued 19.9% of the issued and outstanding shares of Rhyolite and was granted a right to participate, on a pro rata basis, in all future financings of Rhyolite to maintain its proportionate interest in Rhyolite.
Fission 3 will remain the operator of the Peruvian Assets until the completion of Stage One.
CEO Dev Randhawa commented,
“The Macusani area has shown strong potential for both uranium and lithium resources, as demonstrated by the recent results of operators in the nearby and surrounding area. We are pleased to partner with Rhyolite Lithium, which has strong financial backers with the equity needed to fund important work programs on the Macusani Project. We believe that by working with Rhyolite we will unlock value for Fission 3 shareholders.” About Fission 3’s Macusani Project
Macusani, Peru, is an emerging uranium and lithium district in a mining-friendly jurisdiction. The area is host to multiple uranium deposits that are large scale, near-to-surface and potentially heap-leachable – giving them a strong economic case. The region also hosts several near-surface lithium occurrences associated with uranium mineralization in the Yapamayo Member formation as well as higher-grade lithium in the underlying Sapanuta Member formation.
Fission 3 holds titles to 9 concessions totaling 5,100 ha in the Macusani district. The property is surrounded by Plateau Energy Metals Inc.’s land package including the Falchani high-grade lithium discovery located less than 5km to the south. The Macusani concessions are easily accessed by a series of paved roads from the City of Puno to the town of Macusani, which connects to the Interoceanic Highway, a two-lane, paved highway that passes 14km north-east of the property. About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.” ON BEHALF OF THE BOARD “Dev Randhawa” Dev Randhawa, CEO Fission 3.0 Corp. Cautionary Statement:Fission 3.0 Corp. Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operator of the Peruvian Assets, the characteristics, benefit, economics and mineralization of the Macusani region, the benefits of the earn-in agreement to Fission 3 shareholders and future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: Fission 3’s performance as operator of the Peruvian Assets, the Macusani region having different characteristics, economics or mineralization than currently expected, Rhyolite’s decision to fund expenditures on the Macusani Project pursuant to the Earn-In Agreement, market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim 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. 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 release.
SOURCE Fission 3.0 Corp.
For further information: Investor Relations, TF: 778-484-8030, ir@fission3corp.com, www.fission3corp.com
The Federal Reserve has used a stunning array of tricks to convince the world that it has any clue what it’s doing. Yet keep in mind, this is the same institution that couldn’t see the housing bubble. Even after it started imploding (check out these comments by Ben Bernanke or Hank Paulson if you need some verification).
Of course one of the most often used whoppers is the Federal Reserve’s Keynesian perspective on the topic of inflation. Where the Fed fears that if prices aren’t rising fast enough, that somehow that’s a problem.
Personally, my belief in recent years has been this is just a 3 Stooges routine set up to confuse the public. While in reality it’s difficult to believe the Fed really doesn’t understand the damaging impact it’s creating on the economy.
So to resolve the myths that are perpetrated, and help you read through the Fed’s nonsense so you can plan for what actually will occur, click to watch the video now!
Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com
Those circulating dollar bills, euros, pounds, and yen are DEBTS (notes) issued by central banks to extract wealth from citizens and the economy, dilute the purchasing power of the currency, and nourish the banking cartel.
“The problem of course is once it has done this [created the ‘everything bubble’], the Fed will NEVER be able to normalize interest rates because the entire financial system is now addicted to extraordinarily low rates.”
“… a Fed President stated point blank that the Fed is aware that the entire US financial system is one gigantic leveraged bet on low interest rates…and as a result of this, the Fed is DONE with normalization.”
“Indeed, the Fed’s pro-inflation policy since Alan Greenspan’s arrival at the Eccles Building in August 1987 has been sheer folly.”
“The Warfare State will metastasize until something bigger stops it. AOC-and-MMT-style socialism plus the Green New Deal promise the same for the Welfare State.”
THE IMPLICATIONS ARE:
1) Central banks and the banking cartel are supporting the political and financial elite with debt-based currency units. The rest of us manage on our own.
2) The U.S. official national debt passed $22 trillion. Not only must debt creation increase, it must accelerate or risk a recession, depression, or revolution. Exponential increases in debt are essential until a reset occurs.
3) Fiat currency systems throughout history that depended upon the honesty and integrity of the banking cartel and government officials died from corruption, excess “printing” and devaluation of the currency. The dollar will not be an exception.
4) However, the dollar may survive many years as the elite create ever-increasing debt, or it might “reset” much sooner.
“Just as there is no tool other than QE to feign financial solvency, there is no tool to balance the balance sheet of the offending entities other than Gold.”
QUESTIONS TO ASK:
Argentina lopped 13 zeros from their currency in the past 80 years. Would it have been wise to own physical gold coins while the Argentine government and central bank debased the currency with runaway inflation?
Would you prefer to be a billionaire in Zimbabwe dollars or the owner of 10 ounces of gold?
Do you own more than one Senator on speed-dial?
The national debt has increased at almost 9% per year for over 100 years. Do you expect that trend to reverse soon? More debt = more currency in circulation = more price inflation.
Welfare lobbyists are powerful. Warfare lobbyists get what they want. The banking cartel donates to congressional and presidential elections. Will they receive financial considerations for their “donations?”
Do you own enough gold and silver that you sleep well at night knowing congress and the Deep State are promoting their agenda?
WHAT ABOUT SPECIFICS?
The official national debt, not counting unfunded liabilities, is over $22 trillion – over $150,000 per worker in the U.S. It will default or be repaid with hyper-inflated dollars. Silver and gold can’t default. They depend upon the counter-party promises of no one.
The national debt increases every year, even allowing for population changes. Divide national debt by the population (every man, woman, and child). The result is:
The Gross Domestic Product (GDP) as reported by the St. Louis Fed shows an exponential increase even when adjusted for population growth. Dollars buy less so nominal GDP increases.
But the critical observation is that GDP has grown 3.4% per year for the last decade while population adjusted national debt has grown at 7.7%.
How long can debt grow faster than the economy which supports that debt? A long time, but not forever…
Worse, the growth of population adjusted GDP from the 1960s through 1986 has slowed from 8.9% to only 3.4% per year since the 2008 financial crisis.
WHAT ABOUT THE DOW JONES INDUSTRIAL AVERAGE AND GOLD?
The DOW has increased exponentially for many decades.
And gold sold for $42.00/oz in 1971.
The DOW is near the top of its six-decade trend channel. The next major move is likely down.
Gold prices are near the center of their five-decade trend channel. Debt-based currency units will devalue further, as they have for over 100 years. When the dollar buys less, the price of gold must increase.
But gold prices will increase even more rapidly as the world realizes fiat currencies are dodgy and must decline in purchasing power. The dollar, as global reserve currency, has held up better than most, but gold will survive. The dollar will not.
Zerohedge reported that the U.S. military airlifted 50 tons of gold from Syria. Why gold, not paper currencies such as the Syrian Pounds, Iranian Rials or Russian Rubles?
Why did Iraq steal gold from Kuwait when Iraq invaded?
What happened to Libya’s gold?
What happened to the billions of Zimbabwe dollars printed by their central bank? Toilet paper?
From Thomas Sowell:
“If you have been voting for politicians who promise to give you goodies at someone else’s expense, then you have no right to complain when they take your money and give it to someone else, including themselves.”
CONCLUSIONS:
Population adjusted official national debt has exploded in the past 100+ years.
Population adjusted GDP has not kept pace with debt—a bad sign.
Worse, population adjusted GDP has fallen from 8.9%/year in the 1970s to 3.4%/year in the past decade.
Gold prices will rise as fiat currencies devalue, and as the world acknowledges $250 trillion in global debt is unpayable. The “printing game” can last longer, but the consequences will be ugly.
Have you protected your savings and retirement with something real – like silver and gold – instead of trusting devaluing fiat currency units manufactured in the trillions by corrupt central banks?
Buy silver and gold for insurance against the excessive “printing” of central banks. Miles Franklin sells silver and gold.
Call them at 1-800-822-8080 and request a shipment of fiat currency protection units (silver and gold coins). Tell them the Deviant Investor suggested it.
Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
We are rated A+ by the BBB with zero complaints on our record. We are recommended by many prominent newsletter writers including Doug Casey, Jim Sinclair, David Morgan, Future Money Trends and the SGT Report.
For your protection, we are licensed, regulated, bonded and background checked per Minnesota State law.
TORONTO , March 12, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (ANX.TO) (ANXGF) is pleased to announce that it has entered into a $5 million term loan (the “Facility”) from the Royal Bank of Canada (“RBC”). The Facility will provide the Company with enhanced financial flexibility and allow it to complete all pre-construction activity at its 100%-owned Goldboro Gold Project in Nova Scotia (“Goldboro”) without further equity financing. In 2019, Anaconda expects to finalize a feasibility study for Goldboro and complete all work required to obtain mining permits to be shovel-ready in early 2020. The Facility was arranged with the support of Export Development Canada (“EDC”), which has issued a performance guarantee over half of the principal amount.
“The financial commitment from RBC and EDC demonstrates their confidence in the Anaconda management team, the continued cash flow generation at the Point Rousse Project, and our overall ability to advance our growth plans in Atlantic Canada . The Facility now enables us to execute on our business plan in an accelerated, focused manner, with our debt service obligations easily funded from our mine operations. This Facility, combined with our continued free cash flow generation from the Point Rousse Project, will enable us to advance the Goldboro Gold Project to a construction-decision stage in early 2020, at an exceptionally low cost of capital and without any dilution to our shareholders.”
~ Dustin Angelo , President and CEO
Terms of the Facility
The Facility is repayable monthly over a 24-month term with certain prepayment options. It is subject to an existing general security agreement with RBC and a debt service coverage ratio covenant to be measured on an annual basis, based on a ratio of a measure of earnings to interest expense and scheduled principal payments. The Facility was arranged with the support of EDC, which has issued a performance guarantee over half the principal amount. The Facility carries a fixed interest rate of 4.6% and performance guarantee fee by EDC of 1.85%, payable quarterly based on the proportional amount outstanding. The full $5 million has now been drawn and the initial monthly payment is due 30 days from drawdown.
ABOUT ANACONDA
Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, deep water port, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates a strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .
ABOUT EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, investments, insurance, and connections – to take on the world with confidence. Underlying all of EDC’s support is a commitment to sustainable and responsible business.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda’s annual information form for the year ended December 31, 2018 , available on www.sedar.com. Although Anaconda 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. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
VANCOUVER , March 12, 2019 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce the commencement of initial field work at Pacton’s Yandicoogina Project, where historical results from surface sampling have reported up to 199.7 g/t Au. The work program is targeting high-grade, shear-hosted gold within a number of mineralization settings and will use rock chip sampling and mapping to prioritize targets for drill testing.
Highlights:
Strike length: 4.7 km cumulative strike length of mapped anomalous quartz vein structures hosting gold mineralization.
Historical sampling results show strong gold mineralization in multiple locations:Rock chip sampling reported results of up to 199.7 g/t Au at surface (Western Australia Geological Survey).
Prioritizing targets for upcoming drill program: Results from the current program will be used to rank targets based on further exploration potential and to prioritize for drill testing planned for 2019.
Figure 1. Pacton’s Yandicoogina Project. Note: Geology, historic locations and grades were obtained from Western Australia Geological Survey archives. Grades noted in Figure 1, and historic mine production statistics of 198.8 kg from 3,232 t of ore yielding an average grade of 61.52 g/t gold do not conform to current disclosure standards, and are not to be relied upon. (CNW Group/Pacton Gold Inc.)
Dale Ginn , Executive Chairman of Pacton Gold, stated, “Pacton’s Yandicoogina projecthostshigh-gradegold bearing systems that are readily apparent and exposed at surface. It also has coarse nuggets from surface prospecting that appear to be from a vein source and have not been subjected to significant transportation. What the project lacks is any significant amount of drilling to depth. Our initial program will therefore focus on prioritizing targets for drill testing the high-grade concentrations at Yandicoogina.”
Yandicoogina Project
The Yandicoogina Gold Project is located 52 km to the south east of Marble Bar in the Pilbara Region of Western Australia . The Project covers a contiguous land holding of 164 km2 consisting of two granted exploration tenements (E45/3474 and E45/3571) and three granted mining leases located inside tenement (E45/3474).
Access to the project from Marble Bar is via the Marble Bar Road to the south east thence via station tracks which take you toward the Black Shepherd Mine.
The Project covers an extensive portion of the Warrawoona Archaean Greenstone Belt. Previous exploration activities have predominantly focused towards the greenstone portion of the project with a considerably limited effort placed on the Mt Edgar Mylonite Complex which is host to the high-grade Death Adder and Granite Prospects.
The initial work program will involve detailed geological mapping and rock chip sampling of priority defined prospects including Granite, Death Adder, Black Shepherd, Uncle Tom and Trilby. Through completing this first phase of activities a further understanding of the controls and extents of mineralisation for each of the prospects will be obtained. Prioritization, drill planning and permitting to drill will commence immediately following the completion of the initial work program.
About Pacton Gold
Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high grade conglomerate and orogenic gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario .
The technical content of this news release has been reviewed and approved by Dale Ginn , P.Geo., a director and Executive Chairman of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.
On Behalf of the Board of Pacton Gold Inc.
Dale Ginn
Executive Chairman
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Winter holes highlight the potential to expand the Triple R deposit’s high-grade core and have also delivered valuable geotechnical data TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
KELOWNA, BC , March 12, 2019 /CNW/ – FISSION URANIUM CORP. (“Fission” or “the Company“) is pleased to announce results from three holes of the Winter work program at its’ PLS property in Canada’s Athabasca Basin region. The three holes were drilled on the R780E zone with the dual-purpose of resource expansion and geotechnical testing of rock-mechanics for mine planning. All three intercepted high-grade mineralization that fit within, and expanded beyond the boundaries of the current modeled high-grade domain. Results include hole PLS19-PW-09, which intercepted a 37.5m continuous zone of strong uranium mineralization with a near-continuous 3.72 m interval of >10,000 cps and a peak of 61,115 cps. In addition, hole PLS19-PW-10 intercepted 47.5m total composite mineralization, including 3.98m of total composite >10,000 cps. With the completion of these holes, the program is now focusing on geotechnical drilling on the ring dyke and cut-off wall, as well as hydrogeology and pump testing.
Results Highlights
PLS19-PW-09 (line 735E) successfully targeted a large jog in the eastern high-grade core model where the high-grade core was interpreted to extend.
41.0m total composite mineralization over a 74m interval (between 130.0m – 204.0m), including;
4.52m total composite >10,000 cps
PLS19-PW-010 (line 990E) successfully targeted the interpreted extension of the R780E high grade core, approximately 120m east of the current high-grade resource model.
47.5m total composite mineralization over a 207.5m interval (between 108.0m – 315.5m), including;
3.98m total composite >10,000 cps
PLS19-PW-08 (line 615E) successfully targeted a low-grade gap between the middle and eastern R780E high-grade cores, with the aim to identify new high-grade mineralization outside of the current model.
71.5m total composite mineralization over a 123m interval (between 121.0m – 244.0m), including;
2.0m of total composite >10,000 cps
Ross McElroy, President, COO, and Chief Geologist for Fission, commented, “We are very pleased with the results and current progress of the winter program at PLS. These drill holes accomplished the goals set out with respect to intersecting mineralization within the modeled high-grade domain and overall look to have expanded beyond the modeled domain. These important results highlight the potential for growth as the R780E zone is further delineated.” Table 1: R780E Zone
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand-held RS-121 Scintillometer manufactured by Radiation Solutions, which is capable of discriminating readings up to 65,535 cps. Natural gamma radiation in the drill hole survey that is reported in this news release was measured in counts per second (cps) using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high-grade mineralization. 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. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness. The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation.
Samples from the drill core will be split in half sections on site and where possible, samples will be standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U3O8 (wt %) and fire assay for gold, while the other half remains on site for reference. All analysis includes a 63 element ICP-OES, uranium by fluorimetry and boron. Further technical details PLS19-PW-08 (line 615E) PLS19-PW-08 targeted a low-grade gap between the middle and eastern R780E high-grade core models, and aimed to identify new high-grade mineralization outside of the current resource model. Moderate to strong radioactivity was intersected in the gap zone beginning at 121.0m down hole, returning a 25.5m wide main interval which included 0.7 m >10,000 counts per second (cps) on RS-121 handheld scintillometer. These results represent the strongest radioactivity on line 615E to date. Based on the current high-grade core model an interval of strong radioactivity was expected at approximately 140.0 m down hole which, as noted above, was instead intersected 19m higher up in the hole. A second zone of strong radioactivity was expected at approximately 152.0m which was successfully intersected and correlates well with the high-grade core model. PLS19-PW-09 (line 735E) PLS19-PW-09 targeted a large jog in the eastern high-grade core model where the high-grade core was interpreted to extend. A 37.5m wide zone of strong uranium mineralization was intersected, beginning at 141.0m down hole with a near continuous 3.72m interval of >10,000 cps occurring in the jog outside of the current high-grade core model. Based on the current high-grade core model the potential existed for a thin zone of strong radioactivity between 145m to 148m down hole. The hole actually intersected a 37.5m mineralized zone between 141m to 178.5m. PLS19-PW-10 (line 990E) PLS19-PW-10 targeted the interpreted extension of the R780E high-grade core approximately 120m east of the current high-grade resource. A 19m wide zone of strong uranium mineralization was intersected beginning at a depth of 172m with a total of 3.78 m >10,000 cps. No high-grade core model exists in the vicinity of PLS19-PW-10 but two vertical drill holes PLS14-180 (5.5m averaging 18.56% U3O8) and PLS14-158 (5.0m averaging 8.57% U3O8) are located approximately 4m and 8m to the east, respectively. The location of the strong radioactivity in PLS19-PW-10 correlates well with strong radioactivity in drill holes PLS14-180 and 158 and suggests potential exists to define additional high-grade domains east of the currently defined high-grade core. PLS Mineralized Trend & Triple R Deposit Summary
Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18km of east-west strike length in five separated mineralized “zones” which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.
The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55m to 100m. R1515W is the western-most of the zones and is drill defined to ~90m in strike-length, ~68m across strike and ~220m vertical and where mineralization remains open in several directions. R840W is located ~515m to the east along strike of R1515W and has a drill defined strike length of ~430m. R00E is located ~485m to the east along strike of R840W and is drill defined to ~115m in strike length. The R780E zone and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50m. R780E is located ~225m to the east of R00E and has a drill defined strike length of ~945m. R1620E is located ~210m along strike to the east of R780E, and is drill defined to ~185m in strike length.
Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor. Patterson Lake South Property
The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol., President and COO for Fission Uranium Corp., a qualified person. About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia. Fission’s common shares are listed on the TSX Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.” ON BEHALF OF THE BOARD “Ross McElroy” Ross McElroy, President and COO Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim 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.
SOURCE Fission Uranium Corp.
For further information: Investor Relations, TF: 877-868-8140, ir@fissionuranium.com, www.fissionuranium.com
If it sounds like I’m repeating myself it’s because I am – more or less. In order to get you to pay for information, or to keep you coming back to their website, the financial newsletter writers have conditioned most of us to think in the short-term. They focus on what gold, silver, the dollar or the Dow did yesterday. Sure, I read them too, to stay informed, which is a good thing. But the truth is, the proper way to approach the physical precious metals market is to focus, not on today, or yesterday, but on the big picture and the events that will ultimately move the market.
The latest rumor that is circulating from something that one of the Fed governors just said, or the latest rumor of a new trade deal between the US and China that is picked up from Trump’s Twitter account are not what will affect your portfolio over the long haul. This type of information is only important if you are a day trader and make your money by moving in and out of the market quickly. But if that’s what you do, then you are buying and selling paper contracts, not buying and selling physical gold or silver. And, you probably wouldn’t be reading this newsletter. You would be paying a hefty price for “timing” information. That is not what we do. We don’t pay much attention to yesterday’s “news.” We don’t over-react to the day-to-day “noise.” We strive to keep our focus on the trends that will actually influence the movement of the products we sell.
It simplifies things to filter out the day-to-day moves and news releases, at least those that affect physical gold and silver. The only relationship between physical gold and silver, and paper gold and silver contracts traded on the Comex is that the Comex contracts set the price of the physical metals. It should not be that way! The price of gold and silver (and the rest of the commodities that are traded on the Comex) should be priced based on their supply and demand fundamentals. Instead their price is set by banks and hedge funds that are buying and selling huge volumes on speculation, with no intent to ever deliver or take delivery on any physical metals. I am not a tin-hat conspiracy nut, but in my mind it is impossible that the precious metals market (make that all of the markets) are freely traded. There is manipulation and it starts with the Fed, the Treasury, the big banks and the hedge funds. Some of the manipulation is done for political reasons and some is done for financial gain. But the important thing to remember is that in the end, market manipulation does not work long-term. The markets we focus on like the currency markets and the bond markets, which set interest rates, are too large to control, for any length of time. That is where I set my focus.
Here is what needs to happen, short of some type of totally unexpected black swan event, to get gold and silver moving up again, and I don’t mean a small short-term move. No, I’m talking about a new primary-trend, a powerful bull market run up.
I recently read an article that talked about the huge increase in the Federal deficit since the first of the year. According to the latest Treasury Department figures, there was a 77 percent spike in the deficit over the first four months of the budget year, which was driven by falling revenue and steady growth in spending. It’s frightening if you believe that debt actually matters. By and large, the dim wits in Washington do not. Military spending and social spending are out of control.
Between the Trump tax cuts and the out-of-control Federal spending, the deficit is exploding. It looks like our national debt will grow by more than a trillion dollars this year. Numbers like this are hard to grasp, but let’s make it easy. That amounts to $3,100 per person in additional borrowed money that will never be repaid. That’s extra, in addition to the current Federal debt, which is $21 trillion and counting. That’s almost $65,000 a person, increasing by a trillion a year and the interest on this massive sum is compounding annually. Interest alone last year were $364 billion. And that is with interest rates hovering near all-time lows. You know what will happen when interest rates start to rise.
Under current law, CBO projects that net interest costs will nearly triple over the next 10 years, soaring from $315 billion in 2018 to $914 billion in 2028 and totaling $6.9 trillion over the period.
It’s pretty obvious that this trend cannot go on indefinitely. The amount of new dollars that will have to be created to service this monster is screaming at you – buy gold and silver and dump dollars.
Do you really expect Congress to agree on anything for the next two years? Do you think the Democrats will do anything to help President Trump get re-elected to a second term? How long will it be before our lenders (the foreign countries who buy our debt) demand much higher interest rates or outright cease buying our Treasuries? This is going to happen, and sooner rather than later since we have lost control of our finances. Russia and China are already selling US Treasuries. Once this happens, interest rates will rise, which will derail the economy and the stock market. Inflation will increase, as the Fed is obliged to purchase the debt in an attempt to slow down the rising interest rates and to keep the bond market from imploding.
This alone guarantees the coming bull market in gold and silver. Smart money will quickly move to safety, to avoid the risk from the falling dollar, falling stock market and falling bond markets. The number one asset, the safest asset, the only asset that is unencumbered, free and clear, is gold. Yes, “risk aversion” assets will become the “Go To” assets.
I read something every day where the author is trying to time the move, up or down, in gold and silver. It’s a waste of time.
It’s enough for us to understand what the end game is all about here, because it is not far off. Just look around you. Things are not going well and there are new fires to put out every time you turn around. Trump is not a magic-worker. In fact, he seems to be causing more disruption and instability than good. His key projects, like the wall, tariffs, disarming North Korea’s nuclear capability and reigning in Iran are not going well. They are very disruptive (which is not to say they are bad ideas). We will not, cannot grow our economy sufficiently to avoid the ultimate penalty of too much debt and money creation. If you think I am wrong in saying this, then sell your metals and put all your money in the stock market, and I wish you well.
Weak U.S. Domestic Growth Needed To Push Gold To $1,400 – Analyst
Kitco News
The U.S. dollar and U.S. interest rates remain the key headwinds to gold prices as the yellow metal tries to find momentum after dropping from last month’s 10-month high.
Although gold needs a dovish fed to push higher, Jim Iuorio, managing director at TJM Institutional Services, wrote in a commentary for the CME Group that the reason behind low interest rates will key for prices to push towards $1,400 an ounce.
“If the Fed’s change of heart is caused by problems in Asia or in Europe, the dollar could maintain its strength in a lower rate environment because its value is primarily measured against the yen and the euro,” he said.
However, if the Fed keeps interest rates low because of domestic growth concerns, which could be enough to propel gold higher.
“Additionally, if the domestic weakness appears that it may persist and require long-term central bank intervention, gold could swiftly shift to the ‘gotta have it’ asset of 2019,” he said.
Another side-effect of weak economic growth could be panic selling in equity markets, which would also benefit gold, Iuorio said.
The gold market is currently digesting a significant economic downgrade from the European Central Bank, which prompted it to loosen monetary policy.
According to the latest ECB staff projections, Eurozone gross domestic product will increase by 1.1% this year, 1.6% in 2020 and 1.5% in 2021, compared to December’s forecast of 1.7% growth in 2019, 1.7% in 2020 and 1.5% in 2021.
At the same time, the central banks sees consumer prices increasing 1.2% in 2019, 1.5% in 2020 and 1.6% in 2021, compared to the previous estimates of 1.6% inflation this year, 1.7% in 2020 and 1.8% in 2021.
April gold futures last traded at $1,286.10 an ounce, down 0.12% on the day.
Greg Hunter interviews Catherine Austin Fitts. She says the world is choking on debt-Buy Gold.
Greg Hunter
Catherine Austin Fitts – World Choking On Debt – Buy Gold
What is investment advisor and former Assistant Secretary of Housing Catherine Austin Fitts looking to put money in? She has long been lukewarm on gold, but not any longer. Fitts now says, “The world is choking on debt. . . . It’s not just peak oil, it’s peak everything. So, it is one of the reasons you see margins falling, and we tried to fight it by blowing bubbles. We are reaching the end of that sort of strategy, and it’s one of the reasons you are seeing more and more people become aware of gold and want gold. They are saying, okay, the financial asset bubble game is over, and now we want real things. . . . To me, gold was a core position, and I have always felt that gold was a core position. So, I like gold now. For many years, I said I don’t think gold is going to have a good investment run. I am changing that this year. I think gold as an investment will do reasonably well this year, and it should. . . . Basel III rules are basically making gold more attractive and focusing more on financial soundness. Yes, the central banks and banks are going to be buying, but I think as you see global investors see the extent of the lawlessness, and like the determinations in the U.S. federal credit, they are going to be looking for real assets. Gold is just going to be a place to go. . . . Away from jewelry, you’ve got about a $3 trillion gold market. So, it only takes a little bit of a pension fund or a sovereign wealth fund to increase their gold allocation to run the market up. I think there is going to be a steady drum beat of support for the price of gold for some time to come.”
David’s Commentary:
The next topic I want to touch on today is Palladium. By now everyone must be aware of the bull market in Palladium. Very few of our clients own any Palladium. I hate to chase a market on the way up, but the “fundamentals” justify owning some now. If you don’t have any, now would be a good time to add some to your portfolio.
Palladium is making new all-time highs right now. It’s pushing towards $1,500 an ounce, up from $800 back in August. That’s because there is an extreme physical supply shortage. We see that because of the lease rates in London, the backwardation, there is an extreme shortage. The problem with Palladium is that its producer is Russia. They’re not likely to supply a lot of Palladium to let the banks off the hook. And the banks are on the hook because the Palladium market is structured identically to the way it’s structured in gold and silver. If we get a real run on Palladium, which is bond to happen, and all of a sudden we get a “force majeure” and the banks say, look I know we made all these promises, but we just don’t have the metal. Palladium could be the “magic bullet” that breaks the system, that ends the whole party. If the Palladium market fails, and there is no reason to think it won’t, it is not some kind of parabolic blow-off, but it’s not. On the Comex there are only 42,000 ounces of Palladium in the vaults, both combined and eligible yet there are 4.2 million ounces of contracts. It only makes sense that the hedge funds say, hey if the Palladium market is structured that way, isn’t the gold and silver market structured the same way too? A collapse of the scam in Palladium will open a lot of eyes. Will it happen? Don’t know, but there is a point when people will figure out that the banks are between a rock and a hard place and then it’s off to the races.
In silver, JPMorgan now has this vault that has the 150-million ounces of silver. If you add up all of the silver in the Comex vaults and divide it by the open interest, which is 1.1 billion ounces, which is 130% of mine supply, against 280 million ounces of silver in the Comex vaults, you’ve got total leverage of the amount of contracts versus the silver in the vaults about four to one. In gold, if you add up all the gold between registered and eligible, and divide by the open interest, the leverage is about 5.5 to 1.
There is 2.9 million ounces of digital Palladium versus 42,000 ounces of physical Palladium in the vaults. The ratio is 68 to 1. A failure to deliver is when the music stops. That’s what we’re waiting for. When the large hedge funds and even the central banks who have loaned their gold out (like Switzerland) realize that this is all just one big scam and they say, hey, I’d like my gold now, that’s when the banks scheme can collapse. That is what happened in the 50s when the U.S. couldn’t supply the gold and in the 60s when the London Gold Pool collapsed. They couldn’t deliver. That’s the same boat the bullion banks are in now if people realize this is just one big Ponzi scheme and demand their physical metal back. The scheme of getting people to accept digital make-believe gold for the real thing will collapse. So how high could the price of gold go? No one knows how many ounces are out there, with no claim against them to be delivered so there is no way to know how high the price will go, but it will be very high
About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
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By Jayant Bhandari / March 09, 2019 / Article Link
In the recent years investors have lost a lot of money in the resource sector. This shouldn’t have been the case had investors paid attention to the work of Bob Moriarty. Exactly when the sector was losing money, Mr. Moriarty was investing in resource stocks—of the likes of Novo Resources and Irving Resources—that made him 10 to 20 times his investment. In some cases, more.
As Warren Buffet says, “People make investing… more difficult than it should be.”
In his book, “Basic Investing in Resource Stocks—the Idiot’s Guide,” Mr. Moriarty provides a common-sense approach to investing in the resource sector.
“You will make mistakes when investing, but make sure you make new ones.”
Those who have focused their investment life in the resource sector, as I have, tend to think that it is full of idiots and liars, or those living a lifestyle using shareholder money. Mr. Moriarty thinks that other sectors are worse.
Referring to the cryptocurrency mania—which he calls “Bitcon”—about which he started writing on 321gold when it was peaking, he says that total value of Bitcon has fallen from $800 billion to $136 billion. I thought that there was a typo. Had he written “billions” instead of “millions?” But his wasn’t an error. A massive amount of money has changed hands, from gullible people to conmen or street-smart traders.
But the biggest con of all is the fiat currency system that surreptitiously steals people’s money and puts the future generation into bondage. This cannot continue. A “great reset” awaits, for there are far too many systemic risks today.
A product of the fiat currency is the derivative business, a boondoggle that poses significant systemic risks.
All debts must be paid, and the world is awash with it. There are far too many black swans for one not to come into the scene. “The Gilets Jaunes movement of France is merely the opening scene,” says Mr Moriarty. That is where protecting oneself from what is another person’s liability is important, making gold (or silver or platinum or palladium or rhodium) one of the ways to preserve one’s wealth.
In the investment space, a lot of wealth is getting destroyed, misallocated or moving into the hands of conmen, private or public, leaving gullible investors high and dry. What one must learn early on is the concept of probabilities before one starts throwing one’s dice.
One, however, cannot depend on the advice of “experts,” which reminds me of “Nobody Knows Anything,” another book by Mr. Moriarty.
Mr. Moriarty advises people to have the courage—once they have studied their homework properly—to have contrarian thinking, even if it goes completely against the emotions of the market.
There is legitimate information in the market and there is noise. Internet should have made it easier for information to flow freely. Alas, it is noise that has grown bigger than the real signal.
“Change your mind when information changes” makes common-sense, except that most people are resistant to changing their views. The end result is that 90% of investors lose money. While Mr. Moriarty advises not to be a part of that 90%, he is happy they exist, to help him make the extra money.
Read the above words of wisdom in his short and sweet book, including the description of the resource industry, and some saucy stories of his investments. Jayant Bhandari
Vancouver, British Columbia–(Newsfile Corp. – March 11, 2019) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”), today reported drill results from reconnaissance drilling to the west of the Dixie Hinge Zone (“DHZ”) at its 100% owned Dixie Project in the Red Lake District of Ontario, and acquisition of new district properties covering additional gold mineralization targets.
Two exploratory drill fences were completed 150 metres and 400 metres west of the current DHZ drilling, along the D2 fold axis that is interpreted to be a significant gold control, using the recently added second drill rig as shown on Figure 1. All 5 of 5 drill holes intersected gold mineralization. Highlights include:
31.40 g/t gold over 0.70 metres within a 2.70 metre interval of 8.70 g/t gold at only 64 metres vertical depth. An image of gold within this new high-grade intercept is provided in Figure 2.
Multiple gold-bearing veins were intersected in 2 of the 5 drill holes.
The newly discovered gold veins may comprise significant strike length extensions to the DHZ vein system or may be new gold zones; further drilling is required.
The second drill rig continues to drill test new targets across the Dixie property.
Table 1: Results of reconnaissance drilling to the west of the Hinge Zone. All widths are drill indicated core length and insufficient data exists to determine true widths and vein orientations at this time.
Drill Hole
From (m)
To (m)
Width (m)
Gold (g/t)
Vertical Depth (m)
DSL-016
83.30
86.00
2.70
8.70
64
including
83.30
84.00
0.70
31.40
DSL-017
126.00
127.50
1.50
2.95
106
and
255.30
255.80
0.50
1.11
214
DSL-018
75.30
75.80
0.50
3.84
54
and
214.65
217.15
2.50
2.68
154
including
214.65
215.15
0.50
6.32
DMS-001
35.77
39.20
3.43
2.09
29
including
38.00
39.20
1.20
4.95
and including
38.00
38.70
0.70
6.67
DMS-002
47.25
50.10
2.85
2.43
43
including
47.65
48.45
0.80
4.58
Additional drilling has also been completed within the Hinge Zone, results of which have not been received at the time of this release. DHZ drill results will be released once assay results are received and processed.
Chris Taylor, President and CEO of Great Bear said, “In a district where 25 metre step-out drilling is considered aggressive, our new reconnaissance drill holes located 150 metres and 400 metres from the Hinge Zone have yet again shown the extensive footprint of gold mineralization at Dixie, and the apparent importance of major D2 fold axes as regional gold controls. We look forward to further drilling in these areas to determine if these are separate new gold discoveries, or whether the Hinge Zone extends through this entire strike length.”
The Company notes that gold-bearing veins have now been drilled over a strike length of approximately 500 metres from the easternmost Hinge Zone drill holes to the newest drilling to the west. This veining is located on the south side of an ultramafic body and fault that are sub-parallel to the regional D2 fold axis.
Figure 1: Map of reconnaissance drill holes west of the Hinge Zone, adjacent to a D2 fold axis. Drill holes DL-016, 017 and 018 are located 150 metres west of current Hinge zone drilling. Holes DMS-001 and 002 are located 400 metres west of current Hinge Zone drilling.
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The Company also notes that the next interpreted D2 fold axis to the north, also shown on Figure 1, also hosts high grade gold within a quartz feldspar porphyry dike, including 30.20 g/t gold over 0.55 metres, within a wider interval of 12.41 g/t gold over 1.5 metres in hole DL-009, which was drilled by the Company in late 2017. This second fold axis is also an exploration target for future step-out drilling.
Figure 2: Image of newly discovered high-grade gold returning 31.40 g/t gold over 0.70 metres at 64 metres depth, from reconnaissance drill hole DSL-016, located west of the DHZ.
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Great Bear is currently undertaking a fully-funded 30,000 metre, approximately 150 drill hole program that is expected to continue through 2019. A second drill rig was added to the project in February 2019 to accelerate this work and is now drilling additional gold targets.
Property Acquisitions
The Company also reports new low-cost, royalty-free property acquisitionsadding to its strategic land positions in the Red Lake District of Ontario.
The newly acquired properties will be mapped and prospected in summer 2019, with minimal impact on the Company’s current Dixie property exploration budget and program. A map of the acquired properties is provided in Figure 3.
Chris Taylor continued, “Following our recent drill success at Dixie, the total staked area within the Red Lake district increased by over 150%, constituting the area’s largest staking rush in decades. We have completed a model-driven geological review of the district using the Dixie property’s D2 fold and deep-seated structural gold controls as guides. This work suggests additional prospective areas for gold mineralization, which we have now secured, royalty free. We intend to prospect the new properties in summer 2019.”
Figure 3: Map of newly acquired and optioned properties in the Red Lake district.
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Great Bear has not completed sufficient work on the new properties to verify results from historical work.
Dedee Property
Highlights of the Dedee property include:
Covers the western strike extensions of the major regional D2 fold axial plane that is interpreted as a control of the new high-grade gold discoveries at Great Bear’s flagship Dixie property.
Two folded greenstone belts are interpreted at Dedee that mimic the geometry of the Dixie folded greenstones.
Historical drill reports of sulphides similar to the Dixie Limb Zone mineralization that were never assayed for gold.
Conductive trends similar to the Dixie Limb Zone have also been identified in historic unpublished geophysical surveys; at Dixie, these led Teck Resources to the original gold discovery of the 88-4 zone and associated gold; they are also prospective targets at Dedee.
15,300-hectare land area (153 square kilometres)
Road accessible though logging roads, approximately 20 minutes drive from Red Lake
The Dedee property was acquired in part through staking, and will be acquired in part through an inexpensive royalty-free option agreement with an arm’s length third party. Terms of the option portion of the acquisition are:
(a) $6,000 upon signing the option agreement;
(b) 15,000 shares after receiving acceptance of the Exchange for the issuance of the shares under this agreement;
(c) $10,000 on or before the date that is one year after the Effective Date;
(d) $12,000 on or before the date that is two years after the Effective Date;
(e) $16,000 on or before the date that is three years after the Effective Date; and
(f) $24,000 on or before the date that is four years after the Effective Date.
Pakwash Property
The 3,100-hectare (31 square kilometre) Pakwash property is located southeast of the Dixie property and covers portions a major regional fault structure lying along English River sediments. Historical work has identified gold lake sediment anomalies which are coincident with regional fault zones and gold-in-soil (MMI) anomalies which have not been followed up with detailed exploration.
The Pakwash property will be acquired through an inexpensive royalty-free option agreement with an arm’s length third party. Terms of the option agreement are:
(a) $10,000 upon signing the option agreement;
(b) 25,000 shares within seven (7) business days of receiving acceptance of the Exchange for the issuance of the shares under this agreement;
(c) $8,000 on or before the date that is one year after the Effective Date;
(d) $12,000 on or before the date that is two years after the Effective Date;
(e) $15,000 on or before the date that is three years after the Effective Date; and
(f) $20,000 on or before the date that is four years after the Effective Date.
Sobel Property
The 3,200-hectare (32 square kilometre) Sobel property, is located along the strike extension of the main D2 fold axial plane that is a major interpreted control of gold mineralization at the Red Lake Gold Mine, operated by Goldcorp.
The property overlies prospective Balmer Sequence rocks of the main Red Lake greenstone belt.
The Sobel property will also be acquired through an inexpensive royalty-free option agreement with an arm’s length third party. Terms of the option agreement are:
(a) $10,000 upon signing the option agreement;
(b) 30,000 shares within seven (7) business days of receiving acceptance of the Exchange for the issuance of the shares under this Agreement;
(c) $12,000 on or before the date that is one year after the Effective Date;
(d) $20,000 on or before the date that is two years after the Effective Date; and
(e) $20,000 on or before the date that is three years after the Effective Date.
The Company has elected to buy out all the outstanding royalties on the newly optioned properties for total consideration of 38,500 shares of Great Bear.
The schedule of optional payments for all of the optioned properties can be accelerated at any time at the Company’s discretion in order to achieve full ownership at an earlier date. The options may also be terminated at any time subsequent to the initial cash and share payment.
About Great Bear
Great Bear’s flagship Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined 10-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in the West Madsen, Pakwash, Dedee and Sobel properties, which cover regionally significant gold-controlling structures and prospective geology. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.
Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to SGS Canada Inc. in Red Lake, Ontario, and Activation Laboratories in Ancaster Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analysed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analysed utilizing standard Fire Assay-Gravimetric methods. Selected samples with visible gold are also analyzed with a standard 1kg metallic screen fire assay. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration, and Ms. Andrea Diakow P.Geo, Exploration Manager for Great Bear are the Qualified Persons as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
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 release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
Proven Probable
