Author: admin

Categories
Base Metals

FISSION URANIUM Accelerates Towards Feasibility Status with 28 New Hole Winter Program

Six-month program to include 28 holes and advanced engineering studies

TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU

KELOWNA, BC , Jan. 30, 2019 /CNW/ – FISSION URANIUM CORP. (“Fission” or “the Company“) is pleased to announce a Winter work program for its’ PLS property in Canada’s Athabasca Basin region. The program will focus on the Resource Development Phase required to progress the Triple R deposit to Feasibility (“FS”) status. Work is expected to commence during the first week of February. It will comprise 3,730m of drilling in 28 geotechnical holes, together with advanced engineering studies that are required to reach feasibility level.

Fission Uranium Corp. (CNW Group/Fission Uranium Corp.)

View photos

Fission Uranium Corp. (CNW Group/Fission Uranium Corp.)

Winter Program Highlights include:

  • Ring Dyke and Cut-Off wall drill holes (13 holes)
  • Geotechnical Rock Mechanic / Resource Expansion drill holes (3 holes)
  • Hydrological pumping / monitoring drill holes (4 holes)
  • Tailings Management Facility “TMF” area shallow depth characterization drill holes (8 holes)
  • Geochemical characterization for waste rock acid drainage studies
  • Air photo interpretation and desk top study for suitable aggregate gravel and clay sources for surface infrastructure construction
  • Environmental data collection / analysis
  • Community and stakeholder relations

Ross McElroy , President, COO, and Chief Geologist for Fission, commented,

“We are continuing to advance the Triple R deposit at PLS. With our pre-feasibility technical report expected in Q1 of this year, it is important to commence work on the next stage of development. This winter program, which includes resource development drilling and engineering studies, will assist with a seamless transition from pre-feasibility to feasibility status. This, in turn, will further de-risk the Triple R deposit and enhance shareholder value.”

Further details of the six-month resource development phase

Ring Dyke & Cut-Off Wall Drilling (13 Holes in 1,040m ):
The goal of this work is to obtain geotechnical properties of the subsurface soil and hydraulic conductivity of the shallow bedrock to support ring dyke and cut-of wall designs for the open pit model. Drill holes will fill in data gaps along the proposed location of the cut-off wall as well as characterize the ring dyke foundation conditions. Thirteen holes drilled with a sonic drill will test a number of areas around the dyke / cut-off wall around its perimeter. Results will be analyzed by geotechnical consultants to be included in mine design parameters.

Geotechnical Rock Mechanic / Resource Expansion Drilling (3 Holes in 1,125m ):
Three dual purpose rock mechanic / resource expansion holes will test portions of the R780E area where additional data is required for geotechnical modeling and where the potential exists to add to the high-grade mineralized core.  From a geotechnical perspective, drill holes aim to identify the location and orientation of large-scale structures that have the potential to affect pit wall and underground excavation stability. Geotechnical data will also be collected for open pit and underground mine design and for crown pillar stability analyses. Drill holes will extend into projected R780E high-grade mineralization where interpretation indicates the potential to expand the high-grade core resource on lines 615E, 735E and 990E.

Hydrogeological Pumping Test / Monitoring Wells (4 Holes in 605m ):
Hydrogeological pumping tests are required to obtain bulk hydraulic properties of the shallow and deep bedrock. The groundwater flow model will be updated using the results of the pumping tests to establish pit wall depressurization requirements and preferred method as well as to estimate pore pressure distribution for pit slope stability assessments.  A mud rotary drill be used to drill 4 large diameter wells.  Two pumping wells will be drilled 5m apart, and two additional holes spaced 40m apart will be drilled as monitoring wells.

Tailings Management Facility Drilling (8 Holes in 960m ):
The objective of the TMF drilling is to collect geotechnical and hydrogeological data by drilling through the soil and weathered bedrock to support the selection of the preferred TMF site. Two potential sites are currently under consideration. The drilling aims to determine which is the favorable location. Future work to follow during the summer program will focus on the selected area.

Geochemical Characterization of Mine Waste:
Mine waste is expected to be stored on surface in a waste rock stockpile and overburden stockpile. The potential impact of production and storage of mine waste will be assessed during the Environmental Impact Assessment submission. The Phase 1 (PFS level), geochemical characterization focused on understanding the static geochemical characteristics of bedrock anticipated to be mined as waste rock.  Phase 2 (FS level) will expand upon the Phase 1 testing to assess short term soluble metal leaching characteristics and will involve long term kinetic test work.  Sample selection from historic drill core will occur during the W2019 program, while geochemical monitoring and reporting will occur in later programs, such as the summer 2019 program.

Aggregate Gravel and Clay Study :
An assessment of for sources to supply aggregate and clay for surface infrastructure construction will be advanced during the winter program. Work will involve air photo interpretation and a geomorphological study for potential sources.

Environmental Baseline
Canada North Environmental Services “CanNorth” will continue to manage the data collection and analysis for the comprehensive baseline environmental study, ultimately required for the Environmental Impact Assessment permitting process for future mine development.  Areas of focus for the winter program will include a tracking survey and the finalization of terrestrial and aquatic report.

Community Relations
Fission continues to engage the services of CanNorth to help develop a proactive strategy with respect to community relations.  In part, this includes recognition and frequent communication with the various major stakeholders in the PLS project area.  Fission remains committed to hiring and training local personnel for field work.

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.

View photos

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2019/30/c1991.html

Categories
Precious Metals

SPROTT’S THOUGHTS Catalyst for Gold Locked and Loaded?

Catalyst for Gold Locked and Loaded?

Jan 29, 2019 01:00 pm
By Trey Reik, Senior Portfolio Manager, Sprott Asset Management USA, Inc.

Gold Outshines the S&P 500 in 2018

We believe that gold bullion and gold mining equities may be poised for a multi-year uptrend. Gold bullion beat U.S. equities for the month of December, the fourth quarter, and the full calendar year of 2018. Spot gold1 declined 1.58% versus the 4.39% drop in the S&P 500 Total Return Index2 in 2018 (Figure 1). Gold also outperformed most currencies last year, with the exception of the Swiss franc and the Japanese yen.
The bulk of gold’s 2018 outperformance came in the fourth quarter, on the back of the steep fall of the S&P 500 after it hit a high in late September, as shown in Figure 2. Gold rallied 7.54% in the fourth quarter, while the S&P 500 lost 13.52%. The rise in gold mining equities was also impressive in Q4, with Sprott Gold Miners ETF (SGDM)3 gaining 12.63%.
To read the rest of the article CLICK HERE.
 

1 Spot gold is measured by the XAU: The ISO 4217 standard code for one troy ounce of gold, considered as a currency.
2 S&P 500® Total Return Index represents 505 stocks issued by 500 large companies with market capitalizations of at least $6.1 billion, and reflects reinvestment of dividends. This Index is viewed as a leading indicator of U.S. equities and a reflection of the performance of the large-cap universe. The TR Index represents dividends reinvested.
3 Sprott Gold Miners ETF (NYSE: SGDM) seeks to deliver exposure to the Sprott Zacks Gold Miners Index (NYSE: ZAXSGDM). The Index aims to track the performance of large to mid-capitalization gold companies whose stocks are listed on major U.S. exchanges

Read in browser »
share on Twitter Like Catalyst for Gold Locked and Loaded? on Facebook

Recent Articles:

The Palladium Play – Part 2
Sprott Gold Report: Housing Crunch
Sprott Gold Report: Everything is Cool
Sprott Gold Report: Brinkmanship
Sprott Gold Report: Physical Matters
Sprott U.S. Media, Inc. is a wholly owned subsidiary of Sprott Inc., which is a public company listed on the Toronto Stock Exchange and operates through its wholly-owned direct and indirect subsidiaries: Sprott Asset Management LP, an adviser registered with the Ontario Securities Commission; Sprott Private Wealth LP, an investment dealer and member of the Investment Industry Regulatory Organization of Canada; Sprott Global Resource Investments Ltd., a US full service broker-dealer and member FINRA/SIPC; Sprott Asset Management USA Inc., an SEC Registered Investment Advisor; and Resource Capital Investment Corp., also an SEC Registered Investment Advisor. We refer to the above entities collectively as “Sprott”.
The information contained herein does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.
Forward-Looking Statement
This report contains forward-looking statements which reflect the current expectations of management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, and similar expressions have been used to identify these forward-looking statements. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this document. These factors should be considered carefully and undue reliance should not be placed on these forward-looking statements. Although the forward-looking statements contained in this document are based upon what management currently believes to be reasonable assumptions, there is no assurance that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this presentation and Sprott does not assume any obligation to update or revise.
Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any fund or account managed by Sprott. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund or account managed by Sprott will be invested.
Past performance does not guarantee future results. The views and opinions expressed herein are those of the author’s as of the date of this commentary, and are subject to change without notice. This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott Global Resource Investments Ltd. that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested.
Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment.  Because of significant volatility,  large dealer spreads and very limited market liquidity, typically you will  not be able to sell a low priced security immediately back to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott Global, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time.
Copyright © 2019 Sprott US Media, All rights reserved.
You are receiving this email because you requested information about the Sprott Group.
Our mailing address is:

Sprott US Media

1910 Palomar Point Way Ste 200

Carlsbad, CA 92008-5578

Add us to your address book
Categories
Base Metals Precious Metals Project Generators

MILLROCK Announces Drilling Results From La Navidad Gold Project, Sonora State, Mexico And Corporate Developments

VANCOUVER, BRITISH COLUMBIA, January 29, 2019 – Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) (“Millrock” or the “Company”) reports that results from a drilling program completed at the La Navidad gold project in Sonora State, Mexico have been received. The program focused on the northwestern portion of the project. Four holes were drilled at El Tigre prospect, where gold had been detected by soil sampling in the vicinity of historic mine workings. The drill holes tested induced polarization geophysical anomalies and northwest-trending high-angle structures that appear to control mineralization observed at surface. Four further holes tested El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) pointed to the possibility of an intrusion-related gold deposit. In total, eight holes totaling 1,844 meters were drilled in the program. The exploration work was funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”).
The drilling results were generally disappointing. Only a few weakly anomalous gold values were returned. The alteration and mineralization observed at surface appear to weaken in the subsurface. It does not appear that further exploration work on these prospects is warranted.
Millrock has received notification from Centerra that it is terminating the option to joint venture agreements on both La Navidad and El Picacho gold projects.
Millrock President & CEO Gregory Beischer stated “Millrock thanks Centerra for the investment they made in advancing these projects. While Centerra has elected to leave, we strongly believe the projects have excellent technical merit. We think they will be attractive to mid-tier or smaller mining companies. Our intention is to seek out new funding partners, but at the same time we will have to balance the cost to hold to La Navidad and El Picacho concessions in the face of Millrock’s currently limited cash position.” 

Corporate Developments:
PolarX Shares and Cash Position

Millrock recently sold 10 million PolarX shares for A$475,000. While Millrock continues to be a strong believer in the Alaska Range Project, given Millrock’s relatively weak cash position it made sense to sell the shares. Millrock continues to be entitled to a production royalty, an advanced minimum royalty, and certain milestone payments.
Gregory Beischer, Millrock President and CEO stated, “Equity markets continue to be very tight. Millrock has to be extremely careful with its remaining funds. Management is cutting costs in all ways possible while the technical team works diligently to secure new funding partners. It is management’s view that securing new partnerships will be the best way for the Company to reduce overhead costs. The Company has an excellent portfolio of gold and copper projects but there is a cost to hold un-partnered projects until new partners are secured. Given the continued weakness of Millrock’s cash position (approximately C$790,000, as of today’s date, net of near-term accounts receivable and payable), the Company is considering all possible alternatives to move forward, including divestiture of Mexico projects and other assets.”
Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. For the La Navidad drill program drill core samples were kept in a secure location at all times. Rock samples were assayed at the Bureau Veritas laboratory in Hermosillo, Mexico. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current rock sampling program was PRP70-250. Analysis methods used include FA430 (30 gr/Fire Assay/ICP) and AQ-200 (Aqua Regia – ICP/MS). For every 20 rock samples a blank sample known to contain less than 3 parts per billion gold or a standard sample (Certified Reference Materials) of known gold concentration, or a duplicate sample was also analyzed. The qualified person is of the opinion that the results received from the laboratory for the samples in collected in this drill program are reliable.
Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed and approved by Gregory A. Beischer, President, CEO and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is active in Alaska, the southwest USA and Sonora State, Mexico. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, Altius, and Riverside. Millrock is a major shareholder of junior explorer Sojourn Exploration Inc.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
(604) 638-3164
(877) 217-8978 (toll-free)
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement thatis management’s view that securing new partnerships will be the best way for the Company to reduce overhead costs. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the ability of Millrock to negotiate agreements with third parties to fund exploration programs on terms beneficial to the Company.

Copyright © 2019 Millrock Resources, All rights reserved.
You are receiving this email because you opted in to our mailing list.
Our mailing address is:

Millrock Resources

Suite 2300 – 1177 West Hastings St.

Vancouver, Bc V6E2K3

Canada

Add us to your address book

Categories
Blog

CHRIS MARCUS Russia To Respond to U.S. Sanctions By Buying Bitcoin?

More blowback to U.S. Sanctions. As Russia is reportedly responding by further moving towards cryptos and less dollar reliance.
What does this mean for the dollar? And for the cryptocurrency market?
To find out, click to watch the video now!

Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com
 

Categories
Blog

BOB MORIARTY When The Fed Reinstates QE-Infinity You Are Going To Want To Own Precious Metals

Bob Moriarty

 
Original Source: https://bit.ly/2FT3LF3

 by  |  posted in: Charts, Gold, Gold Stocks, Irving Resources, Novo Resources, Westhaven Ventures |  0
The last time Bob and I spoke global equity markets were coming unhinged and he very calmly stated that he thought there was a very good chance of a stock market rally starting very soon. As it turns out he was right, within a couple of days only because markets were closed on Christmas Day. Stock have essentially rallied non-stop for the last month and Bob now thinks the dead-cat bounce is about to come to an end. He also has some interesting thoughts on the global debt bubble that is about to pop and the government shutdown that just ended in the U.S. Without further ado here is Energy & Gold’s January 2019 conversation with 321gold founder Bob Moriarty…
 
Goldfinger: We’ve seen a nice move up in precious metals since the last time we spoke (Christmas Eve) and gold is currently knocking on the door of important resistance near $1300. Gold mining shares have also spent the last few weeks undergoing a healthy consolidation. What do you see for precious metals and mining stocks right now?
Bob Moriarty: I think that gold is the antithesis of the stock market right now. When stocks went down in December gold went up and two Fridays ago we saw gold get dinged about 1% while stocks rallied. I think a lot of smart people are sensing a crash is right around the corner and I think that gold and gold mining shares will soar when the stock bubble pops.
Goldfinger: We’ve received quarterly earnings reports for many of the world’s largest mining companies and generally speaking they have been quite poor; BHP disappointed, Freeport lowered guidance, Barrick didn’t impress with higher than expected costs, etc. We are starting to see a trend of increasing costs across the mining sector – even a massive miner like Barrick Gold reported US$3.00 per pound all-in sustaining costs (AISC) for copper production which means that Barrick is losing money mining copper on an all-in cost basis. While their cash costs are considerably lower (around US$2.00/lb) which means they won’t be reducing production anytime soon, the fact is that many global copper producers aren’t really incentivized to find new sources of copper production with copper prices sitting at US$2.65/lb.
Bob Moriarty: Here’s the deal, prices go from extreme highs to extreme lows. The prices of commodities will often go below the cost of production and people will shut projects down which will help commodity prices go back up again. The cost of labor has gone up while grades keep dropping, this explains why costs keep rising. Now when I see a price of copper of US$2.65/lb and I see all-in sustaining costs of US$3/lb I know we’re near a low.
Goldfinger: Considering the growing demand for electric vehicles and the rewiring of the global energy grid the future looks particularly bright for copper right now, however, you wouldn’t have guessed that by looking at the copper price chart:
The world is going to need a lot more copper over the next couple of decades. If Barrick can’t even mine the stuff profitably where are we going to find new sources of economic copper? Or I guess another way to ask that question is why aren’t copper prices a lot higher?
Bob Moriarty: It’s pretty clear to me that resource prices will have to move a lot higher and that would include base metals like copper and zinc. If copper prices remain below US$3/lb we simply won’t have enough supply to meet demand and prices will skyrocket higher in a very short period of time.
Goldfinger: Do you have any comments on the big gold producer mergers we have seen recently (Barrick and Randgold, Goldcorp and Newmont)? Do these mega-mergers have any impact upon the juniors and are we likely to see even more M&A within the gold sector in 2019?
Bob Moriarty: In general this trend is good for the juniors because the majors do not have exploration departments anymore, most of their new projects have to come from juniors. If metals prices go the way I think they will this year we will see more and more M&A throughout the year. You have to remember that majors like to acquire exploration & developments projects when prices are high and/or rising – nobody is going to make a big copper project acquisition at $2.65/lb but you can be certain that at $3.65/lb we will have more takeovers.
Goldfinger: One of my themes for 2019 is outperformance by the mid-tier gold producers and developers. One of the key catalysts to drive this outperformance should be M&A, with majors acquiring the most attractive mid-tiers while we will see mid-tiers combining with one another to create larger companies that will be treated better by the market, due to increased synergies and better cost structures.
Do you agree that we will see a lot of consolidation among mid-tiers in 2019?
Bob Moriarty: There has to be more consolidation in the sector, they have no choice. When you mine you are constantly consuming your young so you either have to explore and make new discoveries to replace the ounces you’re producing (read consuming) or you have to use M&A to replace reserves. Right now we aren’t seeing much exploration and certainly not much exploration success so the mid-tiers and majors have no choice but to merge with one another.
The big mergers that we’ve seen are also designed to make the companies more efficient and to lower costs per ounce. They should be more efficient and they should have lower costs, it’s not excusable for a major gold mining company to have all-in costs of over US$1,200 per ounce.
Goldfinger: The CEOs of Barrick and Newmont have stated publicly that they are no longer in the business of growth at all costs, they are going to manage their companies with an eye to the bottom line and clearly these recent mega-mergers help to achieve that objective.
Bob Moriarty: One of things that I don’t hear mentioned very often is that since 2007 the financial mismanagement by the global central banks has caused so many whipsaws in commodity prices that it has made it very hard to run a large commodity producer. How can you run an oil company when oil is $140 one day and then $35 the next day?
We need to get back to financial sanity and I believe we are seeing the gold mining sector get back to financial sanity with a focus on the bottom line.
Goldfinger: At the end of 2018 we had a brief stock market panic, let’s call it the Christmas Eve 2018 panic, you had been calling for a market crash and while I wouldn’t call it a crash it was definitely a serious panic. Is that it? Or was that just a tremor before the real crash happens?
Bob Moriarty: The last time we spoke I predicted a turnaround in stocks and then I wrote a post stating as much on Christmas Eve. Stocks have basically moved straight up for the last month and I still believe we have a monster crash coming. It could start next week or 1-2 months from now, but it is coming. December was the end of the beginning, we’ve just seen the previews of the real movie. The financial system is so warped that when the crash comes it’s going to the greatest financial tsunami in history. The action since Christmas Eve up until now is just a dead-cat bounce which helps to build up some more complacency before the real downturn begins.
Goldfinger: It’s more evident than ever to me that we are in a central bank controlled financial system and this was clearly evident when the Fed quickly backpedaled after New Year’s indicating they would be “patient” with regard to any further rate hikes. The market took this to mean that there wouldn’t be another hike for at least six months and that any hike would be well telegraphed far in advance.
Meanwhile, we’re seeing a lot of evidence that global economic growth has been deteriorating and there are few indications that this trend will change anytime soon. Precious metals and gold in particular could be in a sweet spot as global central banks begin easing (after a couple years of tightening via rate hikes and balance sheet shrinkage) against the backdrop of weakening economic growth and an unusually daunting set of global macro uncertainties. Price action in precious metals has also been quite constructive since August of last year while sentiment has remained relatively muted and institutional exposure to gold and silver continues to be virtually non-existent.
With the US dollar looking like it’s about to turn lower after a strong performance in 2018, gold in US dollar terms is poised to perform exceptionally well in 2019. It feels like conditions are ripe for a stellar year for precious metals in 2019.
Bob Moriarty: I think you’re onto something there and there’s some data that’s shown that gold has been making record highs in almost every other currency other than the US dollar. What I see happening is the stock market beginning to crash in the next couple of months which will cause the Fed to panic and reimplement QE-infinity which will weigh heavily on the dollar and in turn turbo-charge precious metals and other hard assets.
There are tremendous forces building up across the world right now that will eventually result in a massive explosion. Let me give you an example, I just wrote a piece about the yellow vests in France. Did you know that there are now protests going on in more than 30 countries around the world? Yellow vest protests.
Goldfinger: No, I didn’t know that. The Gilets-Jaunes (yellow vests) are a symptom of a bigger problem. The elite and ruling classes have ripped off the system and left the common working class people paying for their excesses and the excesses of central banks that they have managed to profit from.
What do you think about the FBI dawn raid and arrest of Roger Stone?
Bob Moriarty: We’re in never never land, we’ve got the FBI and the DOJ trying to say who the President of the United States should be. This is treason being carried about by government law enforcement agencies. This is the most bizarre thing in American history, i’ve never seen anything like it. And then you have incidences like the one with the Kentucky high school kids at the Lincoln Memorial where the leftists and left-stream media are trying to completely distort reality and it can only end in tragedy. There is going to be a revolution/civil war in the United States and it is going to spread worldwide. There are yellow vest protests in China and Poland and around the world. They’re even protesting in Canada! Who the heck protests in Canada?!!
Goldfinger: Trump caved in on the government shutdown last week after 35 days of shutting down the federal government. What was accomplished through this government shutdown and can Trump really build a wall via emergency order?
Bob Moriarty: Nothing at all. Trump tried to show Pelosi how much power he had and he did. He has next to none. The whole wall issue is a circus side show. We have had open borders for a hundred years and we somehow survived. Fifty years ago I would go dove hunting in Mexico and you could wave at the customs guys as you passed through.
Goldfinger: I read a statistic the other day that the US has US$122 Trillion of unfunded liabilities which equates to 564% of Fiscal 2018 GDP.  To fund these unfunded liabilities would require 10% of GDP for more than 56 years. The debt pile that has built up around the world, particularly in the US, is so large that it will never be repaid. I don’t think these massive government liabilities were ever meant to be repaid.
Bob Moriarty: You’re right, it will never be repaid and it was never intended to be repaid. When you were a kid did you ever blow up a balloon at a party?
Goldfinger: Yes, of course.
Bob Moriarty: I want you to imagine the biggest balloon you’ve ever seen and you start blowing into it, you keep blowing into it, and it keeps expanding, what is going to eventually happen?
Goldfinger: Eventually it’s going to pop!
Bob Moriarty: No shit! If you understand balloons then you understand debt bubbles. You can keep blowing into that balloon but you can be sure that if you keep blowing into it then it’s going to pop. The same way that if we keep inflating the debt bubble you can be sure that it’s going to pop one day and the consequences will be like nothing you or I have ever seen before. One day grandma is going to go try to cash her social security check and the bank is going to tell her the check bounced. Want to see a panic? That will be a real panic.
Goldfinger: One more topic before we wrap up, we’ve talked about a few companies recently including Westhaven Ventures (TSX-V:WHN), Irving Resources (CSE:IRV), and Novo Resources (TSX-V:NVO). Do you have any comments or updates on these stories?
Bob Moriarty: Novo is everything i’ve been saying for the last six years and they are making wonderful progress. Novo CEO Quinton Hennigh is also Chairman of the Board of a company called Miramont (CSE:MONT) that literally just started drilling some attractive targets in Peru and that one is going to be a home run. Quinton is also involved with Irving Resources and they are about to start drilling on Hokkaido Island in Japan.
Westhaven delivered some nice intercepts recently and notwithstanding the short term market gyrations I believe that Shovelnose is a great project that will eventually be a mine.
Goldfinger: So Irving is about to start drilling within the next couple of weeks?
Bob Moriarty: Yes, and they will announce it to the market when they do begin.
Goldfinger: I posted a couple of charts of gold and silver recently illustrating a positive outlook for both metals. What is sentiment telling you here? Is there room for silver to get up to $17 and gold up above $1350 before we have the next correction?
 
Gold (Weekly)

 
Silver (Weekly)

Bob Moriarty: I’m ok at predicting price direction but hopeless at predicting price. We have had a bottom in silver, gold and platinum. Palladium has gotten pretty toppy. If and when the Fed reinstates QE, you are going to want to hold precious metals.
 
Well that sums it up succinctly; we’ve made a bottom in precious metals and the growing global debt tsunami increasingly makes precious metals a compelling asset for investors to hold. Bob doesn’t proclaim to be a market timer, nevertheless his calls at key market turning points are among the best i’ve ever seen. I believe him when he says the dead-cat bounce in large cap US equities is coming to an end very soon. As always, we’d like to thank Bob for his time and insights. Until next time…
 
Disclaimer:
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. Some of the stocks mentioned are high-risk venture stocks and not suitable for most investors. Consult the companies’ SEDAR profile for important risk disclosures.
EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.

Categories
Junior Mining

ALLEGIANT Reports Commencement of Drilling at its Monitor Hills Gold Project

VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU:TSX-V) (AUXXF:OTCQX) is pleased to report that drilling has commenced at its Monitor Hills gold project in Nevada. ALLEGIANT is drilling a total of six “discovery potential” projects located principally in the world-class gold mining jurisdiction of Nevada, over a 10-12-month period to approximately June 2019. The drilling campaign was initiated at the Red Hills project in August 2018; Monitor Hills is the 4th project to be drilled.

Monitor Hills is 100% owned by ALLEGIANT and is located approximately 35km east-southeast of Tonopah, Nevada. ALLEGIANT began drilling at Monitor Hills in late January 2019; 10-12 rotary drill holes, totaling up to 2,150 meters are planned. Drilling is focused on geochemical gold anomalies determined by surface sampling.

ALLEGIANT performed detailed geologic mapping, completed grid geochemical surveys, and collected over 250 samples of outcrop and float at Monitor Hills. Surface sampling identified eight new target areas where gold values in outcrop exceed 1 g/t gold. Several gold anomalies (values from 20-245 ppb gold) were identified in mostly covered areas that are up to 300 metres long and 100 metres wide.

The target at Monitor Hills is Carlin-type gold mineralization in Cambrian and Ordovician sedimentary rocks. Gold occurs in replacement silicification (jasperoid) of carbonate rocks, or along iron-stained fault zones. The mineralized faults trend mainly north, but northeast and northwest trending structures are also mineralized. A buried Tertiary diorite intrusive body, believed to be shallow under blow sand and sand dunes, occurs just west and southwest of the claim block.

A geology map showing the location of proposed drill sites can be viewed at the following link:

www.allegiantgold.com/nr/2019-01-29-map.pdf

Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Wallace has reviewed and approved the technical content of this press release.

ABOUT ALLEGIANT
ALLEGIANT owns 100% of 12 highly-prospective drill-ready gold projects in the United States, 9 of which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT is one of the most active explorers in the gold sector; three projects with “discovery” potential have been drilled since August 2018, and at least four more are planned to be drilled in 2019. ALLEGIANT’s flagship Eastside project hosts a large and expanding gold resource, is district scale, and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

Further information regarding ALLEGIANT can be found at www.allegiantgold.com

ON BEHALF OF THE BOARD,

Robert F. Giustra
Chairman

For more information contact:

Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com

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

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include, but are not limited to statements and information regarding: Allegiant’s property holding costs savings or income generated from optioning out certain properties; Allegiant’s drilling and exploration plans for its properties, including anticipated costs and timing thereof; the potential of hosting good grade gold mineralization or expansion; Allegiant’s belief with respect to North Brown anomalies and the related transportation of mineralized fragments, including the discovery of the source of the mineralized breccia fragments; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, working capital requirements; and Barrian’s plan to complete an initial public offering and its acquisition of certain properties. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Categories
Base Metals

WESTERN URANIUM & VANADIUM CORP. Ranked 8th on 2019 OTCQX Best 50

TORONTO and NUCLA, Colo., Jan. 28, 2019 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE:WUC) (WSTRF) (“Western” or the ”Company”) is pleased to announce it finished eighth (8th) on the 2019 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market.

George Glasier, Western’s CEO, commented, “We are pleased to be recognized by OTC Markets and our shareholders, who during 2018 confirmed the substantial value of Western’s vanadium/uranium resource and near-term developed mines. Last year’s efforts have enhanced the Company’s opportunity set by positioning Western to re-open the Sunday Mine Complex which will catalyze vanadium and uranium operations. We look forward to a great 2019 and the continued pursuit of enhancing long-term shareholder value.”

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market.  The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year.  Companies in the 2019 OTCQX Best 50 were ranked based on their performance during calendar year 2018. For the complete 2019 OTCQX Best 50, please visit:  https://www.otcmarkets.com/files/2019_OTCQX_Best_50.pdf.

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.

About Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of ablation mining technology.

FORWARD LOOKING STATEMENTS AND CAUTIONARY NOTE
This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

George Glasier, President and CEO; 970-864-2125; gglasier@western-uranium.com        
Robert Klein, Chief Financial Officer; 908-872-7686; rklein@western-uranium.com

Categories
Junior Mining Precious Metals

METALLIC MINERALS Reports High-Grade Silver, Lead, Zinc, and Copper Results from 2018 Exploration Program at the McKay Hill Project in Yukon Territory

January 28, 2018, Vancouver, B.C., Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic” or the “Company”) announces additional high-grade results from the 2018 exploration programs conducted at its 100% owned McKay Hill Project, located 50 kilometers north of the historic Keno Hill Silver District in the Yukon Territory, and adjacent to ATAC’s Rackla property. Although earlier stage than the Company’s Keno Silver Project to the south, Metallic see’s similar potential for a district scale high-grade silver-lead-zinc-copper system at McKay Hill based on results to date including:
  • Total of 37 vein structures identified on the property to date, with the discovery of 18 new silver-lead-zinc-rich structures in 2018, with 61 samples ranging 1,000 to 4,326 g/t silver equivalent;
  • The outline of six kilometer-scale areas of highly elevated silver, lead, zinc, copper and gold in soils and rock sampling; and
  • Advancement of the Central Zone targets to drill-ready stage along with demonstration of the potential to host bulk-tonnage mineralization.
The McKay Hill Project occurs within a belt of silver-lead-zinc related deposits that stretches from the Alaska border to the southern part of the Yukon and includes the famous Keno Hill Silver District. McKay Hill was discovered in the 1920s and had production in the 1940s of high-grade material from the No. 6 Vein Corridor grading 390.8 g/t Ag and 74.1% Pb.1 With at least 37 vein structures (including the 18 new structures discovered in 2018) which have only seen limited exploration, the area shows potential to host a significant district-scale vein system similar to Keno Hill.
Metallic CEO and Chairman, Greg Johnson, stated, “We are very pleased to report these additional rock and trenching results from our 2018 exploration program at the McKay Hill Project, which significantly advanced the project with 18 newly defined vein structures, including some spectacular bonanza grades. To date, a total of 61 rock samples have exceeded 1,000 g/t silver equivalent values with values up to 4,326 g/t silver equivalent in rock samples and up to 2,126 g/t silver equivalent over 2 meters in channel sampling.  Work in 2018 has identified 6 separate kilometric-scale target areas with high-grade silver values along with associated lead, zinc and copper mineralization covering an area approximately 3 kilometers by 1.5 kilometers wide in soil and rock sampling (See news release December 4th, 2018, Metallic Minerals Identifies Multiple Kilometer-long Anomalies at McKay Hill, Yukon Territory). These results have significantly expanded the areas of known mineralization but cover only a small portion of the 44 square kilometer property, supporting the potential for the discovery of additional mineralized targets in future programs. This year’s program successfully achieved the key objectives of expansion of the main Central Zone target through trench, rock and soil sampling and identifying and refining six additional kilometric-scale target zones, including the West McKay, Bella, Red, Falls and Snowdrift and Independence Zones (see Figure 1). A comprehensive exploration program is being planned for 2019 at McKay Hill in coordination with the Company’s Keno Silver Project exploration activities. We look forward to providing additional updates on Metallic’s portfolio of projects in coming weeks.”
Central Zone Target Area
The Central Zone was the focus of historic exploration, and production occurred from a small area of the No. 6 Vein within the Central Zone. Exploration work in 2018 has substantially expanded the number of the Central Zone vein exposures, and understanding thereof, resulting in the identification of high-quality targets for drill testing. Importantly, this year’s program has demonstrated that the historically productive No. 6 Vein is part of a much larger system of vein structures than had been previously recognized, now termed the No. 6 Vein Corridor.  At least 20 major north-northeast-trending vein structures have been identified in the Central Zone along with northeast-trending stockwork zones in what is now interpreted to be a >1 kilometer-long by 250-metre-wide mineralized corridor that remains open to expansion at both ends (see Figure 1 inset).
The northeast-trending No. 6 Vein Corridor consists of widespread, near-vertical, high-grade silver-bearing massive sulfide veins. Very high combined silver and gold grades occur where these veins intersect with the numerous NNE trending gold and copper enriched veins. To date, 35 samples in the Central Zone have exceeded 1,000 g/t silver equivalent (“Ag Eq”) values, demonstrating the potential for high-grade mineralization in these vein systems (see Table 2 values from 2018 sampling). In addition, as part of the exploration program in 2018, a portable excavator was used to trench across key vein intersections to allow for detailed mapping of the structures, including their orientations and true thickness, and to better understand their relationships with the underlying geology (see Figure 2).  Sample results from the trenches that indicate these features, returned composite mineralized widths of up to 16 m of 321 g/t Ag Eq and 7.3 m at 542 g/t Ag Eq with both trenches internal to the mineralized boundary, suggesting the potential for significantly broader packages of bulk tonnage mineralization. The small size of the equipment and topographic limitations did not allow for longer trenches to test across the entire 250 m wide mineralized zone in 2018, but such sampling will be a priority in future programs.
Bella and other Surrounding Target Areas
In addition to the work on the Central Zone, exploration on the surrounding areas included the West McKay, Bella, Falls, Red, Independence, Snowdrift, Nash and White Hill targets. Work in these target areas focused on systematic soil grid sampling, along with rock sampling within the identified zones of interest. Results of the 2018 field program have revealed more than a dozen newly discovered vein structures in new areas for follow with seven rock samples returning greater than 500 g/t Ag equivalent values.
Analytical metal values from the 2018 assays provide encouraging results and select assays from all surface related sampling activities at the McKay Hill Project are presented in Table 2. Select sample results from these veins, highlighted in grey, show elevated silver, gold, copper, lead and zinc numbers. These veins returned promising results for initial sampling efforts on new discoveries.
Figure 1: Mineralized Zones, Rock Chip Samples and Soil Sample Locations from the 2018 Field Program

Table 1: Central Zone Target Area Highlight Rock Sample Assays from 2018 Field Program.
Most significant values are shown in red

Silver Equivalent values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, Cu $3.00/lb and 100% recovery
Table 2: 2018 Surface Sample Results from McKay Hill Project on Surrounding Target Areas.
Results of new vein discoveries are shaded in gray. Most significant values are shown in red

Silver Equivalent values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, Cu $3.00/lb and 100% recovery
Figure 2: Trench Assay Locations and Results from the Central Zone Target Area

Table 3: Sample Results from 2018 Reconnaissance Survey of Outlying Target Areas. Most significant values are shown in red.

Silver Equivalent (Ag Eq g/t) values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, Cu $3.00/lb and 100% recovery.
Next Steps
While compilation and analysis of the new results is ongoing, the Company envisions the following next steps for the McKay Hill Project:
  1. Continued reconnaissance and prospecting of the broader project area including the 42 new claims staked in 2018;
  2. Continued mapping, soil sampling and trenching activities to extend the six identified target areas as well as to expand covered with new soil grids over additional targets and extensions of current open anomalies; and
  3. Refinement of targets on the Central Zone mineralization for initial drill testing focused on the No. 6 Vein Corridor to assess the composite grades over the length and width of the kilometric scale corridor.
Upcoming News and Events, Including Sample Display at AMEBC Roundup
Metallic will be participating in the 2019 AMEBC Mineral Roundup Event in Vancouver. Investors are invited to view samples from the Keno Silver and McKay Hill projects at booth #1009 in the Exhibit Hall for the duration of the show, and will be at the PDAC convention in March in Toronto, among other upcoming shows.
The Company looks forward to releasing additional results from the Keno Silver Project in coming weeks.
About the McKay Hill Project
The 100% owned McKay Hill Project covers 44 km2 within a belt of silver-lead-zinc related deposits that stretch from the Alaska border to the southern part of the Yukon and includes the famous Keno Hill Silver District, approximately 50 kilometers to the south. McKay Hill is a historic high-grade producer that shows potential to host a significant district scale vein system like Keno Hill, with at least 37 identified mineralized vein structures that have seen very limited modern exploration. Recent field work conducted by Metallic Minerals has confirmed high grades of silver, lead and zinc as well as significant associated gold and copper values. Targets include both high-grade structurally controlled mineralization as well as potential bulk tonnage mineralization.
All 2018 rock and soil samples collected on the property were processed at Bureau Veritas Mineral Laboratories in Vancouver British Columbia.
1 – Geological and Geochemical Evaluation Report on the McKay Hill Project, Jean Pautler, P.Geo. JP Exploration Services Inc., 2009
About Metallic Minerals Corp.
Metallic Minerals Corp. is a growth-stage exploration company focused on the acquisition and development of high-grade silver and gold in the Yukon within under-explored districts with potential to produce top-tier assets. Our objective is to create value through a disciplined, systematic approach to exploration, reducing investment risk and maximizing probability of long-term success. Our core Keno Silver Project is located in the historic Keno Hill Silver District of Canada’s Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world’s highest-grade silver resources. The Company’s McKay Hill Project, northeast of Keno Hill, is a high-grade historic silver-gold producer. Metallic Minerals is also building a portfolio of gold royalties in the Klondike Gold District. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade silver, platinum and palladium, and copper producers. Member companies include Metallic Minerals (TSX-V: MMG) in the Yukon’s Keno Hill Silver District, Group Ten Metals (TSX-V: PGE) in the Stillwater PGM-Ni-Cu district of Montana, and Granite Creek Copper (TSX-V: GCX.H) in the Yukon’s Carmacks copper district. Highly experienced management and technical teams at the Metallic Group have expertise across the spectrum of resource exploration and project development from initial discoveries to advanced development, including strong project finance and capital markets experience and have demonstrated a commitment to community engagement and environmental best practices. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers and are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven historic mining districts.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Website:  www.metallic-minerals.com
Email: chris.ackerman@metallic-minerals.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420
Quality Assurance / Quality Control
Analytical work in 2017 was done by Bureau Veritas Commodities Canada Ltd. with sample preparation in Whitehorse, Yukon and geochemical analysis in Vancouver, British Columbia. Each rock (grab) sample was analyzed for 36 elements using an Aqua Regia digestion with inductively coupled plasma-atomic emission spectroscopy (ICP-AES) and inductively coupled Plasma-mass spectrometry (ICP-MS) (AQ202). Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish (FA530-Ag, Au). Over-limit lead and zinc samples were analyzed by multi-acid digestion and atomic absorption spectrometry (MA404) or titration (GC516, GC8917). All results have passed the QAQC screening by the lab.
Qualified Person
Scott Petsel, P.Geo, Vice President, Exploration and an employee of Metallic Minerals Corp., is a Qualified Person as defined by National Instrument 43-101. Mr. Petsel has reviewed the scientific and technical information in this news release and approves the disclosure contained herein. Mr. Petsel has reviewed the results of the sampling program and confirmed that all procedures, protocols and methodologies used in the drill program conform to industry standards.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
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.
Copyright © 2019 Metallic Minerals Corp, All rights reserved.
You are receiving this as a subscriber.
Our mailing address is:

Metallic Minerals Corp

904-409 Granville St

Vancouver, BC v6b1t7

Canada
Categories
Base Metals Junior Mining Precious Metals Project Generators

EMX ROYALTY Congratulates Boreal on New High Grade Zinc-Silver-Lead-Gold Drill Results at the Gumsberg Royalty Property in Sweden

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce Boreal Metals Corp.’s (“Boreal”) recent diamond drill results and the discovery of a high grade zone of zinc-silver-lead-gold mineralization at EMX’s Gumsberg royalty property. EMX is a royalty holder on the Gumsberg project, and currently owns a 9.4% equity interest in Boreal. Gumsberg is located in the Bergslagen mining district of southern Sweden. The drill results include 11.00 meters averaging 5.90% zinc, 239.0 g/t silver, 2.51% lead, and 0.96 g/t gold in hole GUM-18-003, and 11.01 meters averaging 7.45% zinc, 275.1 g/t silver, 2.65% lead, and 0.77 g/t gold in hole GUM-18-004 (true widths estimated at 50% of reported interval lengths). EMX congratulates Boreal on its new high grade discovery, termed the South Zone, and looks forward to further advancement of the Company’s Gumsberg royalty interests.

Boreal reported results from the first four holes of its recently completed nine hole, 1,620.8 meter winter drill program, including GUM-18-003 and GUM-18-004, which intersected South Zone massive sulfide mineralization east and west of previously reported hole BM-17-005 (10.94 meters averaging 16.97% zinc, 656.7 g/t silver, 8.52% lead, and 0.76 g/t gold; true width estimated at 20-50% of reported interval length). The South Zone occurs near the historic Östra Silvberg mine, and is currently delineated as 130 meters of eastward plunging mineralization that remains open for expansion to the east and at depth. Holes GUM-18-001 and GUM-18-002, drilled west of the South Zone, did not return significant intercepts. GUM-18-001 terminated when it drilled into an unmapped mine working, and GUM-18-002 deviated from plan and failed to intersect the target horizon.

Boreal reported that additional assays pending from the remaining holes of the winter campaign are expected in the coming weeks. Please see Boreal’s news release dated January 28, 2019 for further details, and Appendix 1 of this news release for a table of drill results reported by Boreal.

EMX has a significant equity interest in Boreal, as well as its subsidiary company Boreal Energy Metals Corp. (“BEMC”), that resulted from the sale of Gumsberg and other royalty generation properties in Sweden and Norway[1]. EMX retains uncapped 3% net smelter return (NSR) royalty interests on each of the properties sold to Boreal and BEMC[2], including the Gumsberg project, and will receive annual advance royalty (AAR) payments and other considerations from the sale of the projects.

The Boreal agreements are an excellent example of EMX’s execution of the royalty generation aspect of the Company’s business model. EMX leveraged in-country geologic and business development expertise to acquire prospective properties on open ground, built value through low cost work programs and targeting, and partnered the projects for retained royalty interests, equity interests, and AAR payments. This business strategy has provided EMX with substantial share equity in Boreal and BEMC, exposure to exploration and discovery upside at no additional cost, and the potential for future royalty payments upon the commencement of production.

EMX continues to build its portfolio of precious metal, base metal, and cobalt properties in Scandinavia. Many new properties are available for partnership. Please see www.EMXroyalty.com for more information.

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 leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

-30-

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@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 merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the nine month period that ended on September 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year that ended on December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Appendix 1

Drill results reported in Boreal’s January 28, 2019 news release.

Hole
ID		 From 
Meters		 To 
Meters		 Length
Meters		 Zn
%		 Ag
g/t		 Pb
%		 Au
g/t
GUM-18-001 No significant intercepts; intersected previously unidentified mine stope.
GUM-18-002 No significant intercepts; geological interpretations suggest hole failed to reach the targeted horizon.
GUM-18-003 105.00 116.00 11.00 5.90 239.00 2.51 0.96
Including 105.00 108.00 3.00 5.71 386.00 2.30 2.33
and 109.65 111.10 1.45 23.78 666.48 9.37 1.72
and 113.00 114.00 1.00 4.73 222.00 2.83 0.70
and 114.80 116.00 1.20 6.96 227.00 3.49 0.31
GUM-18-004 162.16 173.17 11.01 7.45 275.12 2.65 0.77
Including 162.16 164.18 2.02 11.09 313.00 3.61 0.76
and 165.28 166.18 0.90 8.93 403.00 3.62 1.17
and 165.28 168.50 3.22 8.57 343.39 3.68 1.52
and 169.45 172.25 2.80 11.05 429.14 3.25 0.70

True widths are estimated to be 50% of reported interval lengths.

Statement of Quality Control, Quality Assurance and Core Handling Protocols reported in Boreal’s January 28, 2019 news release.

Drill core is logged and prepped for sampling before submittal to ALS in Malå, Sweden where it is cut, bagged and prepped for analysis. Accredited control samples (blanks and accredited standards) are inserted into the sample intervals regularly. Samples are dried (if necessary), weighed, crushed (70% < 2mm), and riffle split into two fractions. One is retained (coarse reject) and the other is pulverized to 85% < 75µm. Pulps are analyzed by ultra-trace ICP-MS (ME-MS41) and ICP-AES Au-Pt-Pd (PGM-ICP23). Over detection limit samples are reanalyzed using ore grade ICP-AES by aqua regia (ME-OG46) or by AAS in the case of high grade zinc (Zn-AAORE).

[1] See EMX news releases dated November 22, 2016, January 16, 2018, February 9, 2018 and April 11, 2018.
[2] Boreal and BEMC retain a right to purchase 1% of the NSR royalty on individual projects by paying EMX CDN $2,500,000 in cash and shares within five years of the closing date.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42487

Categories
Project Generators

MIRASOL Signs a Binding Letter Agreement with Newcrest Mining for Gorbea Gold Project JV in Chile

VANCOUVER , Jan. 28, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to report the signing of binding letter agreement (the “Agreement“) with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (NCM.AX)(“NCM“), for an Option to Farm-in on the Gorbea High-Sulfidation Epithermal (HSE) gold projects (the “Project“) in Chile (Figure 1).

Mirasol’s CEO Stephen Nano stated: “Newcrest is the ideal partner for our Gorbea projects. Subject to drill permitting, Newcrest will this year fund drill testing of two, large Mio-Pliocene belt HSE Au+Ag projects at Gorbea and under a separate agreement, at the Altazor project in northern Chile “.

The Gorbea Agreement comprises a package of projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) lead properties, located in the Mio-Pliocene age mineral belt of northern Chile.  NCM has the right to acquire, in multiple stages, up to 75% of the Gorbea Project by completing a series of exploration and development milestones and making staged option payments to Mirasol.  NCM has committed to spend a minimum of US$4 million and to complete a minimum of 3,000 m of drilling over an initial 18-month period.  NCM will operate the exploration program at Gorbea.

NCM and Mirasol are working collaboratively to advance the drill permitting process at Gorbea and upgrade the exploration camp ahead of the planned Q1 2019 restart of the exploration program that will initially focus on the Atlas project, including detailed re-mapping, alteration vectoring studies, 60 line-km of CSAMT geophysics, and diamond core drilling.

Terms of the Agreement

Option phase:

  • US$100,000 cash payment upon signing the Agreement;
  • NCM’s minimum commitment is to spend US$4 million and drill a minimum of 3,000m in the first 18 months of the exploration program;
  • NCM will operate the Project and will receive a 5% management fee; and
  • At the end of the Option phase, NCM will have the right to exercise the Farm-in phase of the Agreement.

Farm-in phase:

  • Stage 1: NCM will make a cash payment to Mirasol of US$500,000 , and will have the right to earn 51% of the Project over a 4.5-year period (total 6 years) by spending an additional US$15 million (total US$19 million ), which includes a minimum drilling commitment of 6,000 m to be completed within the first 2 years;
  • Stage 2: If NCM elects to proceed to Stage 2 of the  Farm-in, it will make a cash payment to Mirasol of US$650,000 and have the right to earn 65% of the Project over an additional 1-year period (total 7 years), by funding the delivery of a positive preliminary economic assessment, in accordance with NI 43-101, on a resource of not less than 1 million  ounces of gold at a cut-off grade of 0.30 grams per tonne (g/t);
  • Stage 3: If NCM elects to proceed to Stage 3 of the  Farm-in, it will have the right to earn 75% of the Project over an additional 2-year period (total 9 years) by funding the lesser of either: (i) additional expenditures of US$100 million ; or (ii) the delivery of a positive bankable[1] Feasibility Study, in accordance with NI 43-101;
  • Stage 4: After completion of Stage 3, Mirasol can elect to: (i) contribute its proportionate 25% share of further development expenditures, (ii) exercise a one-time equity conversion option to convert up to 10% of its equity into a NSR royalty at a rate of 2.5% equity per 0.5% NSR royalty (max 2% NSR royalty) and then contribute funding to advance the Company’s remaining Project equity interest; or (iii) dilute.  The rate of royalty dilution (up to 2% and triggered upon dilution of its interest to 10%) will be adjusted based on the percentage royalty acquired as part of the equity conversion option. NCM will hold a 0.5% NSR buyback right at fair market value exercisable on the conversion royalty or the dilution royalty.

After meeting the minimum commitment in the Option phase, NCM may terminate the Agreement at any time without liability. In the event that NCM should complete Stage 1, but elect not to proceed to Stage 2, NCM’s 51% interest shall be adjusted to a 49% interest.  If NCM completes Stage 2, but elects not to proceed to Stage 3, the 65% interest shall be adjusted to 60% and the parties may agree to halt further exploration or continue and contribute in proportion to their interests or be diluted.

The Agreement also contains other customary terms, including extension rights to increase the duration of each stage in return for cash payments to Mirasol, and pre-emptive rights provisions should either party elect to sell its interest in the Project.

The Gorbea Project

The Gorbea Project comprises a package of nine projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) projects, located in the Mio-Pliocene age mineral belt of northern Chile.  Mirasol has completed and reported (news release January 7, 2018 ) the results of an integrated analysis of the extensive Atlas database generated from exploration expenditures in excess of US$ 8 million completed under a prior joint venture agreement. The previous exploration identified a significant body of HSE gold mineralization at the Atlas project, which returned a drill intercept of 114 m grading 1.07 g/t Au, including 36 m grading 2.49 g/t Au (news release September 11, 2017 ). However, the scale of the Atlas Au+Ag system, combined with the relatively modest amount of exploration drilling to date ( 10,499 m in 26 holes) and the range of priority targets identified, highlights the Project as a large, under-explored HSE system, requiring further drill testing for potential large tonnage bulk minable Au+Ag mineralization.

About Newcrest Mining Limited

Newcrest is one of the world’s largest gold mining companies, operating four mines in Australia and the Asia – Pacific regions.  Newcrest has extensive experience developing and operating successful underground and open pit mines in culturally and geographically diverse environments. Newcrest seeks to identify and secure large mineral districts, or provinces, in order to establish long term mining operations.

About Mirasol Resources Ltd

Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits, operating via a hybrid joint venture and self-funded drilling business model. Strategic joint ventures with precious metal producers have enabled Mirasol to maintain a tight share structure while advancing its priority projects that are focused in high-potential regions in Chile and Argentina. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age Au+Ag district of Santa Cruz Province Argentina .

Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Chartered Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.

Under the terms of the pervious Gorbea Joint Venture (terminated in April 2018 ), all exploration was managed by the then joint venture partner. Pre-joint venture exploration on the projects was managed by Stephen C. Nano , who is the Qualified Person under NI 43-101.  Exploration data generated from the previous Gorbea Joint Venture program was reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources Ltd.

Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, channel, trench, and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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.

_________________________

1

“Bankable” is defined as suitable to be submitted to a recognized financial institution as a basis for lending funds for the development of a mine

SOURCE Mirasol Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/January2019/28/c8852.html