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Precious Metals

VANAURUM Major Opportunity Developing in Platinum

Major Opportunity Developing in Platinum

By Kevin Vecmanis
Once in a while an opportunity comes along in the markets where the dislocations are so extreme and compelling that it commands one to take a calculated risk. Anytime you can say, “This is among the cheapest this asset has been in history”, there is typically a fantastic contrarian play at hand.
In February of 2016 the price of WTI Crude Oil hit ~ $25/barrel. On an inflation adjusted basis, this was among the cheapest oil had been in recorded history. I was working in the Oil Industry at the time doing engineering management, and during a lunch with the President of our company I told him I was going to buy a lot of energy equities on that fact alone. Considering the sentiment at the time (atrocious), he was skeptical. Six weeks later I had doubled my money.
Click here now. The same situation is developing in the Platinum market. This plot shows the $USD close of Platinum, with the Platinum/Copper and Platinum/Gold ratio. Platinum is at $805 as of this writing, and on an inflation-adjusted basis is among the cheapest Platinum has been in history. Priced in Gold, this the cheapest platinum has ever been. Priced in Copper, Platinum hasn’t been this cheap since 1977. The same is true of the Platinum/Silver ratio which is languising near lows last seen in 2012, and then the 1980’s before that. The Platinum/Palladium ratio is as extreme as the Platinum/Gold ratio, which is almost tied for all-time lows for the entire price history dating back to the 70’s. Priced in units of the S&P 500 it’s also languishing at the cheapest in history.
So what’s happening here? Some make the (valid) argument that shifting auto demand from combustion vehicles to electric vehicles is forcing the market to reprice the value of Platinum relative to other assets. This is fine, and I tend to agree with this assessment. However, the adaptive and non-stationary aspect of markets needs to be respected. Platinum has inalienable properties that make it a fantastic input to a lot of products and processes. The simple fact that Platinum (and Gold) are immune to oxydative damage means that if they were cheap enough we would use them in everything where a certain degree of robustness and longevity is required. In other words, at some point new use cases for Platinum will emerge that are economically viable at these price levels. This will drive a mean-reversion relative to other assets over the long-term.
Technically, Platinum is sitting right at major support that held during the 2008 crash and the 2015 low. It remains to be seen if a double-bottom will form here, or if the market will break support and jolt lower. The essence of speculation is buying what nobody wants, and selling what everybody wants. I think investors or speculators with the luxury of time would do well to accumulate platinum-based assets at this juncture.
As a matter of disclosure, we currently do not own any positions in Platinum or Platinum miners directly. We do plan to take long-positions in PPLT within the next 1-3 months.

About VanAurum

VanAurum is an intelligent lead generator for trading and investing opportunities. It analyzes over 140 asset classes everyday that cover a global cross-section of the market. When something happens that historically has been positive or negative for returns, it reports on it to members. It’s an AI-based market historian. VanAurum alerted me to the situation in Platinum through action it was seeing in the Platinum/Gold ratio.
Staying in tune with notable price action for the world’s largest asset classes is time-consuming, and perfectly suited for a machine-learning systems to handle. That’s why I built VanAurum – to sift through the market noise and increase the quantity and quality of trading leads for members. If you use technical analysis to trade the markets, VanAurum is a must-have membership because it can quantify exactly what technical events have meant for asset returns in the past.
Due to the popularity of our AI platform, we will be increasing membership prices for new members in February. 321Gold readers can sign-up and lock in current prices by following the steps below. All memberships come with a 14-day, no obligation free-trial.
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Kevin
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Precious Metals

CHRIS MARCUS When People Lose Confidence in Government, They Always Buy Gold And Silver

Jim Rogers – “When People Lose Confidence in Government, They Always Buy Gold And Silver”
Written by Chris Marcus of Miles Franklin
When trying to do something successfully for the first time, one of the strategies I find most helpful is to consider the opinion of someone who has done it before. And certainly with investing, listening to traders who have a track record of success can be incredibly insightful.
Along those lines, something that I’ve found striking as I’ve been fortunate to interview many of the world’s most successful investors, is that they all seem to share the same sentiments regarding gold and silver.
Jim Rogers - When People Lose Confidence in Government, They Always Buy Gold And Silver
Certainly Jim Rogers fits into the category of the more successful traders of the past 50 years. And if I were to summarize our interview down to one thing Jim said, it would be how he mentioned that “when people lose confidence in government, they always buy gold and silver.”
So while many in the mainstream who have been watching too much CNBC often react to gold and silver investors as if they’ve just arrived from another planet, I find it interesting how I have yet to find a single investor who saw the subprime bubble coming in advance, that doesn’t now advocate owning silver (perhaps with Warren Buffett being one exception – although he was a large silver holder at one point).
Sure. You can find plenty of bankers on Wall Street who see absolutely no appeal in gold or silver. Yet how many of them can explain how the United States treasury is going to undo $22 trillion worth of debt? Or $200-plus trillion of unfunded liabilities in Social Security and Medicare? Or how the Fed is going to ever normalize interest rates without crashing the system.
Personally I’ll take Jim’s opinion over any of the folks I once worked with on Wall Street. Or you could take the opinion of Rick Rule, Doug Casey, or Peter Schiff. Or even better, you don’t have to take anyone’s opinion for it. But rather just look at the debt loads and quantitative easing balances, while factoring in that the Federal Reserve is already abandoning any further significant sequence of interest rate hikes.
It’s also interesting how you rarely even hear anyone argue that gold and silver are going to go lower from current levels. And why would they? With both metals trading close to or below what it actually cost many of the miners to dig it out of the ground, while further short term paper manipulation is always possible, how much lower are the metals really likely to trade?
In the end, the simple answer is that Jim Rogers is likely quite correct. That when people lose confidence in governments and money, which is happening as we speak, they always buy gold and silver.
That’s incredibly likely to happen this time around again. And if you have any questions, you’re welcome to email me here, or call Miles Franklin at one 800-822-8080 if you would like to purchase physical precious metals.
-If you have any questions about this article, what’s happening with the Fed, or the precious metals market, you’re welcome to email me here.
-To buy or sell gold and silver call Miles Franklin today at (1-800-822-8080).
-Or get Miles Franklin’s detailed report on why the price of silver is set to explode.
Miles Franklin Refinery Services For “We Buy Gold” Shops
To buy or sell gold, silver, platinum, or palladium call Miles Franklin today at 1-800-822-8080
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Are you a “We Buy Gold” or coin shop that purchases physical precious metals and sends them to a refiner?
Then find out how you can get a better bid than you’re currently receiving. As well as how the process can be simple, trustworthy, and with good communication along every step of the way.
To find out more, click to watch the video or call 1-833-326-GOLD now!
Get Miles Franklin’s detailed report on why the price of silver is set to explode:
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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.
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.
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Precious Metals

Bank of England blocks Maduro’s $1.2B gold withdrawal – report

Original Source: https://www-m.cnn.com/2019/01/26/uk/venezuela-maduro-bank-of-england-gold-withdrawal-gbr-intl/index.html?r=https%3A%2F%2Fwww.cnn.com%2F

Bank of England blocks Maduro’s $1.2B gold withdrawal – report

By Rob Picheta, CNN

Updated at 12:32 PM ET, Sat January 26, 2019

London (CNN) — The Bank of England has blocked Nicolas Maduro’s officials from withdrawing $1.2 billion worth of gold, Bloomberg reported, dealing a further blow to the embattled Venezuelan President as he tries to salvage his authority.
According to the report, which cites unnamed people familiar with the matter, the gold is a significant part of the $8 billion in foreign reserves held by the Venezuelan central bank.
CNN has not been able to independently verify the report and is attempting to get a response from Maduro’s officials.
Related Article: Venezuela’s self-declared acting president makes overture to military
The move by the Bank of England came after top U.S. officials urged the British government to help cut off Maduro’s access to his country’s assets, the report said, and instead steer them towards opposition leader Juan Guaido, who has claimed the presidency.
On Saturday, the UK joined the US and a host of other countries by saying it would recognize Guaidó as the country’s interim President if new elections were not called within the next eight days.
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Base Metals Energy Junior Mining Precious Metals

GROUP TEN METALS Reports High-Grade Palladium, Platinum and Gold from the Wild West and Boulder Target Areas at the Stillwater West Project, Montana, USA

VANCOUVER, British Columbia, Jan. 25, 2019 (GLOBE NEWSWIRE) — Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) announces results from the Wild West and Boulder target areas covering the far-western end of the Stillwater West Project in Montana, USA. This is the first in a series of planned news releases to report results of 2018 exploration programs and on-going compilation and modeling work at the Company’s flagship PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade PGE mines in the Stillwater Igneous Complex. With more than 41 million ounces of past production and current M&I resources, plus another 49 million ounces of inferred resources at over 16 g/t palladium and platinum, the Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization1,2.

Michael Rowley, President and CEO, commented, “We are pleased to report the results of our compilation and modelling efforts at Stillwater West alongside results of the 2018 exploration. This first release focuses on the Boulder and Wild West target areas, which cover the western-most 8 km of the 25 km long Stillwater West project, where work in 2018 confirmed the presence of significant PGE+gold along with nickel, copper and cobalt sulphide mineralization. Mineralization at these two target areas corresponds with two nearly untested electromagnetic geophysical conductors that are approximately 4 and 3.8 km in length, respectively. Surface sampling from these targets show values up to 10.3 grams-per-tonne (g/t) palladium, 3.8 g/t platinum and 21.8 g/t gold in rock samples, with 20 samples returning from 2 to 30 g/t platinum equivalent grade mineralization, including significant nickel, copper, and cobalt values.”

“Mineralization styles seen at these two target areas include high-grade PGE “Reef-type” and structurally controlled PGE+gold, along with bulk-tonnage “Platreef-style” PGE-Ni-Cu mineralization geologically similar to the Northern Bushveld, which hosts Anglo American’s world-leading Mogalakwena mines, as well as Ivanhoe’s Platreef project. These very encouraging sample results, along with the untested kilometer-scale electromagnetic conductor anomalies, highlight the potential for major new PGE-Ni-Cu discoveries at Stillwater West, within the prolific Stillwater Complex.”

Wild West Target Area

As shown in Figure 1, the Wild West target area is one of eight major target areas defined by the Company across the lower portion of the Stillwater Complex based on multi-kilometer-scale electromagnetic geophysical (conductive high) anomalies that are coincident with highly elevated metals in soils and surface rock sampling. The Wild West electromagnetic conductor target covers an area of approximately 3.8 km by 1.7 km in size with very encouraging but limited drilling completed on the southeastern edge of the conductor at the Pine Shear Zone.

Table 1 and Figure 2 present highlight intercepts from recent compilation work by the Company on 22 holes drilled at the Pine Shear Zone targeting high-grade gold+PGE mineralization along with nickel, copper and cobalt. Highlight results from drilling at the Pine Shear Zone include 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters and 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd) over 7.98 meters in a gold+PGE-enriched, structurally-controlled shear zone hosted within the chromite-rich ultramafic stratigraphy. Mineralization remains open to expansion in all directions and is one of several priority targets for additional follow up exploration in the Wild West target area.

Rock sampling by Group Ten in 2018 at the Pine Shear Zone returned palladium grades of over 10 g/t while also confirming high-grade gold with the highest grab sample assaying 23.1 g/t 3E (21.8 g/t Au, 0.64 g/t Pt and 0.72 g/t Pd). Outside of the Pine Shear Zone in the broader Wild West target area, reconnaissance rock chip samples confirm the presence of significant PGE, nickel, copper and cobalt mineralization in the ultramafic series including up to 11.5 g/t 3E (10.5 g/t Pd, 1.2 g/t Pt and 0.23 g/t Au) with a total of 17 rock samples exceeding 2 g/t 3E see Figure 1 and Table 2).

TABLE 1 – Highlight mineralized drill intercepts from the Pine Shear Zone at the Wild West Target Area

    INTERVAL   PRECIOUS METALS BASE METALS TOTAL METAL
EQUIVALENTS		 GRADE THICKNESS
HOLE ID From To Width Pt Pd Au 3E Ni Cu Co NiEq TotPtEq TotNiEq Grade x Width
  (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (%) (Pt g/t) (Ni %) (gram-meter)
PC2004-04 0.00 20.73 20.73 0.21 0.34 0.08 0.64 0.12 0.06 0.009 0.18 1.38 0.34 29
   
PC2004-07 19.20 46.63 27.43 0.25 0.76 0.09 1.10 n/a n/a n/a n/a 1.13 0.27 31
   
PC-2 11.09 22.46 11.37 0.17 0.35 11.77 12.30 n/a n/a n/a n/a 15.24 3.70 173
including 14.48 22.46 7.98 0.24 0.50 16.19 16.94 n/a n/a n/a n/a 20.99 5.10 167
   
PC-3 0.15 9.72 9.57 0.16 0.16 3.77 4.09 n/a n/a n/a n/a 5.04 1.22 48
including 5.70 9.72 4.02 0.38 0.39 7.27 8.04 n/a n/a n/a n/a 9.86 2.40 40
   
PC-5 3.05 6.28 3.23 0.89 1.04 23.49 25.43 n/a n/a n/a n/a 31.30 7.61 101
including 3.05 5.67 2.62 1.06 1.27 28.69 31.02 n/a n/a n/a n/a 38.19 9.28 100
   
PC-6 29.87 39.84 9.97 0.12 0.12 4.36 4.60 n/a n/a n/a n/a 5.69 1.38 57
   
PC-9 4.39 5.76 1.37 0.34 0.34 15.87 16.56 n/a n/a n/a n/a 20.53 4.99 28

 Intercepts with grade thickness values over 25 gram-meter TotPtEq are presented above. Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent calculations reflect total gross metal content using metals prices as follows (all USD):  $6.00/lb nickel (Ni), $3.00/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,000/oz palladium (Pd) and $1,250/oz gold (Au). Values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals, where available. Results labelled ‘n/a’ were not assayed for that metal. Total platinum equivalent grade thickness was determined by multiplying the thickness (in meters) by the Total Platinum Equivalent grade (in grams/tonne) to provide gram-meter values (g-m) as shown.  PC2004 series holes were conducted in 2004 by Group Ten’s QP while working for Premium Exploration. PC series holes were drilled in 1983 and the results are considered historic and have not been independently verified by Group Ten.

TABLE 2 – Highlight 2018 rock sample results from the Wild West target area

    PRECIOUS METALS BASE METALS TOTAL METAL
EQUIVALENTS
SAMPLE ID LOCATION Pt Pd Au 3E Ni Cu Co NiEq TotPtEq TotNiEq
    (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (%) (Pt g/t) (Ni %)
3190318 Wild West (PSZ) 0.64 0.72 21.80 23.16 0.260 0.071 0.018 0.36 30.07 7.31
97809 Wild West (PSZ) 0.37 0.59 11.70 12.66 n/a n/a n/a n/a 15.58 3.79
97805 Wild West (PSZ) 3.77 10.34 0.22 14.32 n/a n/a n/a n/a 14.38 3.49
3190486 Wild West (PSZ) 0.24 0.49 7.93 8.66 0.475 0.313 0.027 0.72 13.61 3.31
3190317 Wild West (PSZ) 0.37 0.31 7.31 7.99 0.551 0.034 0.028 0.66 12.53 3.05
3190498 Wild West 1.24 10.05 0.23 11.53 0.162 0.006 0.013 0.21 12.44 3.02
1409988 Wild West (PSZ) 1.82 6.01 0.20 8.03 0.157 0.029 0.040 0.30 9.33 2.27
3190408 Wild West (PSZ) 0.58 1.35 3.19 5.13 0.119 0.223 0.020 0.30 7.15 1.74
3190497 Wild West 2.11 3.55 0.01 5.67 0.100 0.017 0.017 0.17 6.35 1.54
3190508 Wild West 1.09 3.20 0.27 4.56 0.217 0.067 0.024 0.33 5.99 1.46
3190320 Wild West 1.03 2.95 0.44 4.41 0.138 0.011 0.018 0.20 5.36 1.30
3190509 Wild West 1.12 2.83 0.14 4.08 0.142 0.000 0.026 0.23 5.06 1.23
337315 Wild West 0.76 2.01 0.23 3.00 0.259 0.084 0.030 0.40 4.71 1.15
337389 Wild West (PSZ) 2.80 0.47 0.03 3.30 0.067 0.017 0.023 0.15 3.93 0.96
3190386 Wild West 0.44 1.61 0.19 2.24 0.183 0.245 0.022 0.38 3.84 0.93
1409992 Wild West 0.86 1.83 0.03 2.72 0.090 0.034 0.024 0.19 3.49 0.85
337307 Wild West 1.76 0.67 0.02 2.45 0.114 0.021 0.013 0.17 3.14 0.76
337309 Wild West 0.61 0.83 0.14 1.58 0.250 0.084 0.020 0.36 3.09 0.75
3190422 Wild West 0.32 0.58 0.10 0.99 0.217 0.172 0.024 0.38 2.59 0.63
3190507 Wild West 0.11 0.23 0.11 0.44 0.327 0.182 0.018 0.48 2.44 0.59

 Results over 2 g/t TotPtEq are presented above. Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent were determined as per Table 1.

Boulder Target Area

The Boulder EM conductor target covers an area approximately 4 km long by 1 km wide with a highly conductive electromagnetic response over the Ultramafic and Basal Series of the Stillwater Complex. While the area is among the least explored at Stillwater West, Group Ten’s work in 2018, together with the available historic data, confirms the presence of significant levels of PGE, Ni, Cu, Co and Cr mineralization coincident with the conductive high anomaly, confirming the potential for large bodies of strongly disseminated sulphides.

Mineralization at the Boulder target area is further confirmed by historic drilling by Anaconda in the 1970s which targeted nickel and copper sulphides and chromites in the Basal and Ultramafic Series. Historic data from drill hole BR-2 at the Boulder Target Area reported three intervals grading between 0.42% to 1.5% combined nickel plus copper but were not assayed for PGE or gold values. Future work at the Boulder Target Area will include detailed mapping and soil and rock sampling to develop and refine drill targets.

Upcoming News and Events, Including Core Display at AMEBC Roundup

Group Ten will be participating in the 2019 AMEBC Mineral Roundup Event in Vancouver. Investors are invited to view core from Stillwater West at display #1018 in the Core Shack area during the AME Round Up tradeshow on January 28 and 29, 2019. Group Ten will also be 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 further results from the adjacent and more advanced Chrome Mountain and Iron Mountain target areas in the coming weeks.

About Stillwater West

The Stillwater West PGE-Ni-Cu project positions Group Ten as the second largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater’s world-leading Stillwater, East Boulder, and Blitz platinum group elements (PGE) mines in south central Montana, USA. With more than 41 million ounces of past production and current M&I resources, plus another 49 million ounces of Inferred resources1,2, the Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex, while the lower part of the Stillwater Complex also shows the potential for much larger scale disseminated and high-sulphide PGE-nickel-copper type deposits, possibly similar to Platreef in the Bushveld Complex3. Group Ten’s Stillwater West property covers the lower part of the Stillwater Complex along with the Picket Pin PGE Reef-type deposit in the upper portion, and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.

Note 1: Report on Montana Platinum Group Metal Mineral Assets of Sibanye-Stillwater, November 2017, Measured and Indicated Resources of 57.2 million tonnes grading 17.0 g/t Pt+Pd containing 31.3 million ounces and 92.5 million tonnes grading 16.6 g/t containing 49.4 million ounces.
Note 2: Public production records from Stillwater Mining Company from 1992 to present.
Note 3: Magmatic Ore Deposits in Layered Intrusions—Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012–1010.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA.  Group Ten also holds the highly prospective Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory, and the high-grade Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario.

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 producers of platinum & palladium, silver and copper. Member companies include Group Ten Metals (PGE.V) in the Stillwater PGM-Ni-Cu district of Montana, Metallic Minerals (MMG.V) in the Yukon’s Keno Hill silver district, and Granite Creek Copper (GCX-H.V) 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. The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2018 rock chip samples were analyzed by Bureau Veritas Mineral Laboratories in Vancouver, B.C.  Samples were crushed and split, and a 250 g split pulverized with 85% passing 200 mesh.  Gold, platinum, and palladium were analyzed by fire assay (FA350) with ICP finish.  Selected major and trace elements were analyzed by peroxide fusion with ICP-EB finish to insure complete dissolution of resistate minerals.  Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.  Due to a Pd over-limit of 10 ppm, there is only qualitative Pd data for sample 3190498 from FA350 analysis.

2004 drilling was conducted by Group Ten’s QP while working for Premium Exploration. 1983 drill results are considered historic and have not been independently verified by Group Ten.

1980s assay data was obtained from a 1986 report by geologist R.J. Warchola titled “A Hydrothermal Gold Occurrence on Chrome Mountain, Stillwater Complex, Montana” published in the Montana Geologic Society and Yellowstone Bighorn Research Association Joint Field Conference and Symposium: Geology of the Beartooth Uplift and Adjacent Basin: YBRA 50th Anniversary Edition, 1986; and a 1984 internal report by R.J. Warchola titled “Geologic Report on the Pine Claim, Sweetgrass County, Montana February 1984”

Assay data for drillhole BR-2 was obtained graphically from a 1979 Anaconda Copper Company map by G.F. Willis and J. Bielak.

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.

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 Group Ten 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 Group Ten 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.

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/4892ef65-f505-4efc-92a5-e8e4a2e89b03

http://www.globenewswire.com/NewsRoom/AttachmentNg/67397f95-bf6a-4232-aec3-d0827a765b95

Categories
Junior Mining

ANACONDA MINING Announces NI 43-101 Mineral Resources for the Great Northern and Cape Spencer Gold Exploration Projects

TORONTO , Jan. 24, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX.TO) (ANXGF) is pleased to announce it has completed an updated Mineral Resource Estimate for the Rattling Brook Deposit (“Rattling Brook”) of the Great Northern Project (“Great Northern”) in Newfoundland and an initial Mineral Resource Estimate for the Cape Spencer Gold Project (“Cape Spencer”) in New Brunswick . The Mineral Resource Estimates are presented below in Tables 1 and 3.

The Great Northern and Cape Spencer Gold Projects are held in a wholly-owned subsidiary of Anaconda (“ExploreCo”), with a mandate to identify strategic options to unlock the value of these assets for shareholders through a separate vehicle, allowing Anaconda to focus on its core mining and development operations.

Mineral Resource Estimate Highlights:

Great Northern Project

  • The Rattling Brook Deposit has an Inferred Mineral Resource Estimate of 5,460,000 tonnes at an average grade of 1.45 grams per tonne (“g/t”) gold for 255,000 contained ounces at a cut-off grade of 1.0 g/t gold;
  • The nearby Thor Deposit has a current Indicated Mineral Resource Estimate of 1,817,000 tonnes at an average grade of 1.42 g/t gold for 83,000 contained ounces and an Inferred Mineral Resource Estimate of 847,000 tonnes at an average grade of 1.15 g/t gold for 31,000 contained ounces at a cut-off grade of 0.5 g/t gold.

Cape Spencer Project

  • The Cape Spencer Deposit has an Inferred Mineral Resource Estimate of 1,720,000 tonnes at an average grade of 2.72 g/t gold for 151,000 contained ounces in the Northeast and Pit Zones;

“In 2018, Anaconda created a wholly-owned subsidiary to house these highly-prospective, Atlantic Canadian exploration projects, with the aim of developing strategic alternatives to realize value from them. To that end, we proceeded to update the Rattling Brook Mineral Resource Estimate and generate a maiden Mineral Resource Estimate for Cape Spencer. As a result, ExploreCo currently has 83,000 ounces of Indicated Mineral Resources in the Thor Deposit, 151,000 ounces of Inferred Mineral Resources at the Cape Spencer Project and 286,000 ounces of Inferred Mineral Resources in the Thor and Rattling Brook Deposits. We have established these gold resources in highly prospective areas with sizeable land packages that provide the platform to build significant district-scale mineral resources in Atlantic Canada in the long term. We have continued to create value at these projects with low expenditures and are well positioned to pursue strategic options to realize that value for our shareholders, while remaining focused on our core assets at Goldboro and on the Baie Verte Peninsula .”

~ Dustin Angelo , President and CEO, Anaconda Mining Inc.

ExploreCo Table of Mineral Resources*

Deposit

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Thor Deposit**

0.5

Indicated

1,817,000

1.42

83,000

0.5

Inferred

847,000

1.15

31,000

Rattling Brook

1.0

Inferred

5,460,000

1.45

255,000

Cape Spencer Pit Zone

0.5

Inferred

990,000

1.71

54,000

Cape Spencer Northeast Zone

2.5

Inferred

740,000

4.07

96,000

Rattling Brook Deposit Mineral Resource Estimate – Great Northern Project

The updated Mineral Resource Estimate for the Rattling Brook Deposit is 5,460,000 tonnes at an average grade of 1.45 g/t gold for 255,000 contained ounces at a cut-off grade of 1.0 g/t gold in 3 mineralized zones; the Road, Apsy and Beaver Dam zones with an effective date of January 23, 2019 (Table 1). This represents a 25% increase in tonnes, a 13% increase in grade and a 42% increase in contained ounces at the 1.0 g/t cut-off value compared to the 2008 Historic Mineral Resource Estimate*** that is based on a 0.5 g/t gold cut-off (see Table 2 below for full comparison). This increase in Mineral Resources at the higher cut-off value was obtained by refining the geological model for the deposit, primarily through reducing the volume of marginal grade mineralization that is incorporated in the model. A sensitivity report for the Rattling Brook Deposit and comparison with the 2008 Historic Mineral Resource Estimate is presented in Table 2.

Table 1: Rattling Brook Deposit Mineral Resource Estimate – Effective Date: January 23, 2018

Zone

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Apsy

1.0

Inferred

2,850,000

1.52

139,000

Road

1.0

Inferred

2,120,000

1.28

87,000

Beaverdam

1.0

Inferred

480,000

1.81

28,000

Total

1.0

Inferred

5,460,000

1.45

255,000

1.

This Mineral Resource Estimate was prepared in accordance with NI 43-101 and the CIM Standards (2014)

2.

Mineral Resource Estimate tonnages have been rounded to the nearest 10,000 and ounces have been rounded to the nearest 1,000. Totals may not sum due to rounding.

3.

A cut-off of 1.00 g/t gold was used to estimate Mineral Resources.

4.

Mineral Resources were interpolated using Ordinary Kriging from 1.5 metre downhole assay composites.

5.

An average bulk density of 2.70 g/cm3 has been applied.

6.

Over 90% of Mineral Resources occur above a depth of 150m below surface, the current maximum depth of the Anaconda Mining operated Pine Cove Mine. Mineral Resources were reported within an additional 50m of the 150m bench mark, to a maximum depth of 200m, and are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional open-pit mining methods at a gold price of CAD $1,550 per ounce.

7.

Mineral Resources do not have demonstrated economic viability.

8.

This estimate of Mineral Resources may be materially affected by environmental, permitting, legal title, taxation, sociopolitical, marketing, or other relevant issues.

Table 2: Rattling Brook Deposit Sensitivity Report and Comparison with 2008 Historic Mineral Estimate

Zone

Cut-Off

(Au g/t)

January 23, 2018 Inferred

Mineral Resource Estimate

2008 Historic Inferred Mineral

Resource Estimate***

Percent Change

Rounded

Tonnes

Au

g/t

Rounded

Ounces

Rounded

Tonnes

Au

g/t

Rounded

Ounces

Tonnes

Grade

(Au g/t)

Ounces

Road Zone

0.5

8,960,000

0.86

248,000

9,880,000

0.76

241,000

-9%

13%

3%

1.0

2,120,000

1.28

87,000

1,400,000

1.22

55,000

51%

5%

58%

Apsy Zone

0.5

6,010,000

1.12

217,000

7,410,000

0.95

226000

-19%

18%

-4%

1.0

2,850,000

1.52

139,000

2,760,000

1.30

115,000

3%

17%

21%

Beaver Dam

0.5

1,220,000

1.16

45,000

1,020,000

0.85

28,000

20%

36%

61%

1.0

480,000

1.81

28,000

200,000

1.52

10,000

140%

19%

180%

Total

0.5

16,190,000

0.98

510,000

18,310,000

0.84

495,000

-12%

17%

3%

1.0

5,460,000

1.45

255,000

4,360,000

1.28

179,000

25%

13%

42%

Cape Spencer Project Mineral Resource Estimate

The Inferred Mineral Resource Estimate for the Cape Spencer Deposit is 1,720,000 tonnes at an average grade of 2.72 g/t gold for 151,000 contained ounces at cut-off grade of 0.5 g/t gold and 2.5 g/t gold in two mineralized zones; the Pit Zone and the Northeast Zone with an effective date of January 23, 2019 (Table 3). The Northeast Zone contains a conceptual underground inferred mineral resource estimate of 740,000 tonnes at an average grade of 4.07 g/t gold for 96,000 contained ounces at a cut-off grade of 2.5 g/t gold and the Pit Zone contains a conceptual open-pit inferred mineral resource estimate of 990,000 tonnes at an average grade of 1.71 g/t gold for 54,000 contained ounces at a cut-off grade of 0.5 g/t gold. A sensitivity report for the Cape Spencer Project Northeast Zone and Pit Zone is presented in Table 4.

Table 3: Cape Spencer Project Mineral Resource Estimate – Effective Date: January 23, 2018

Zone

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Northeast

2.5

Inferred

740,000

4.07

96,000

Pit

0.5

Inferred

990,000

1.71

54,000

Total

0.5 and 2.5

Inferred

1,720,000

2.72

151,000

1.

This Mineral Resources Estimate was prepared in accordance with NI 43-101 and the CIM Standards (2014)

2.

Mineral Resource tonnages have been rounded to the nearest 10,000 and ounces have been rounded to the nearest 1,000. Total may not sum due to rounding.

3.

A cut-off of 2.50 g/t gold was used to estimate Mineral Resources for the Northeast Zone.

4.

A cut-off of 0.50 g/t gold was used to estimate Mineral Resources for the Pit Zone.

5.

Mineral Resources were interpolated using Ordinary Kriging from 1.5 metre assay composites capped at 15 g/t gold.

6.

An average bulk density of 2.74 g/cm3 has been applied.

7.

Northeast Zone Mineral Resources extend to a maximum depth of 225m below surface and are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional underground mining methods at a gold price of CAD $1,550 per ounce.

8.

Pit Zone Mineral Resources extend to a maximum depth of 100m below surface and are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional open-pit mining methods at a gold price of CAD $1,550 per ounce.

9.

Mineral Resources do not have demonstrated economic viability.

10.

This estimate of Mineral Resources may be materially affected by environmental, permitting, legal title, taxation, sociopolitical, marketing, or other relevant issues.

Table 4: Cape Spencer Project Sensitivity Report

Zone

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Northeast

1.5

Inferred

1,480,000

2.98

142,000

2.5

Inferred

740,000

4.07

96,000

3.5

Inferred

400,000

5.04

64,000

Pit

0.5

Inferred

990,000

1.71

54,000

1.0

Inferred

830,000

1.88

50,000

Press Release Notes:

*Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All Mineral Resource Estimates were prepared in accordance with NI 43-101 and the CIM Standards (2014).

** The Thor Deposit forms part of the project formerly referred to as the Viking Project. The resources quoted in this press release refer to the technical report: “NI 43-101 Technical Report and Mineral Resource Estimate on the Thor Deposit, Viking Project, White Bay Area, Newfoundland and Labrador, Canada ” with an effective date of August 29, 2016 and authored by independent qualified persons David A. Copeland , M.Sc., P.Geo., Shane Ebert , Ph.D., P.Geo. (an independent consultant) and Gary Giroux , MASc, P.Eng. (Giroux Consultants Ltd.).

*** The Rattling Brook Deposit, including the Apsy, Road and Beaver Dam zones, form part of the project formerly referred to as the Jacksons Arm Gold Project. The Historic Resources quoted in this press release refer to the technical report: “Technical Report On Mineral Resource Estimate, Jacksons Arm Gold Project, White Bay, Newfoundland And Labrador, Latitude 49o 53′ 2.65”North Longitude 56o 50’7.09” West. With an effective date of April 20th, 2009 , and authored by Michael P. Cullen , M.Sc., P.Geo., Chrystal Kennedy , B.Sc., P.Geo., Matthew Harrington , B.Sc. (Hons.), and Andrew Hilchey , B.Sc. (Hons.) of Mercator Geological Services.

This news release has been reviewed and approved by David A. Copeland, P.Geo., Chief Geologist with Anaconda Mining Inc., “Qualified Persons” and Matthew Harrington, P.Geo. and Michael Cullen , P.Geo. of Mercator Geological Services Ltd., “Independent Qualified Persons” under NI 43-101. A Technical Report prepared in accordance with NI43-101 for the Great Northern and Cape Spencer Projects will be filed on SEDAR (www.sedar.com) within 45 days of this news release.

A version of this press release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA MINING INC.

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, 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 .

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 the annual information form for the fiscal year ended December 31, 2017 , 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.

SOURCE Anaconda Mining Inc.

View original content: http://www.newswire.ca/en/releases/archive/January2019/24/c3014.html

Categories
Base Metals

NEVADA COPPER Focus: U.S. copper projects gain steam thanks to electric vehicle trend

By Ernest Scheyder

YERINGTON, Nev. (Reuters) – Once seen as a laggard in the global mining industry, U.S. copper deposits have quietly drawn more than $1.1 billion in investments from small and large miners alike as Tesla and other electric carmakers scramble for more of the red metal.

Four U.S. copper projects are set to open by next year – the first to come online in more than a decade – with several mine expansions also underway across the country, home to the world’s fifth-largest copper reserves, according to the U.S. Geological Survey.

The rising popularity of electric vehicles – which use twice as much copper as internal combustion engines – and increasingly pro-mining policies in the U.S. while other nations exert greater control over their mineral deposits are fueling the spending, according to mining executives and investors.”Fifteen years ago, U.S. mining was thought to be a dead industry, but now it’s a profitable area for us,” said Richard Adkerson, chief executive of Freeport-McMoran Inc.

The Phoenix-based miner, which last month relinquished majority control of the world’s second-largest copper mine under pressure from the Indonesian government even though it will remain the project’s operator, is set to open a $850 million expansion of one of its Arizona copper mines next year.

“The U.S. is really the core for our future growth,” Adkerson said. The U.S. is home to half of Freeport’s reserves.

The buildouts are expected to boost U.S. copper production by at least 8 percent in the next four years, according to data from the International Copper Study Group and DBS, with Nevada Copper Corp, Taseko Mines Ltd, THEMAC Resources Group Ltd and Excelsior Mining Corp aiming to open copper mines by the end of 2020.

The development trend has gone largely under the radar, with copper industry customers like Tesla Inc – rather than miners themselves – grabbing the headlines. But that is slowly changing.

The prospect of a copper boom in the U.S., where the Trump administration is pushing for mining permit approvals to be approved five times faster and where resource nationalism fears are largely absent, is starting to draw major institutional investors.

Industry analysts recommend investors buy shares of companies building new U.S. copper mines, a marked change from just 12 months ago when most recommendations were to hold. Four analysts, for instance, advise buying Taseko shares; none did a year ago. These analysts also have set price targets for the miners at more than double current trading levels, according to Refinitiv data.

“The copper industry needs areas of good supply with low political risk, and that’s what we get in the United States,” said Stephen Gill of Switzerland-based Pala Investments, Nevada Copper’s largest shareholder.

‘COPPER IS KING’

Nevada Copper’s Pumpkin Hollow copper project in Yerington, Nevada is less than 60 miles (100 km) from Tesla’s massive Gigafactory, a proximity that Gill said was a key factor in Pala’s investment.

Surrounded by onion farms and backed by the Sierra Nevada mountains, the Pumpkin Hollow mine will produce more than 100,000 tonnes of copper each year once its underground and open-pit portions fully open, which is slated to happen in phases.”Copper is king for this electrification trend taking over the global economy,” said Matt Gili, Nevada Copper’s chief executive.

“We see demand increasing steadily in the years ahead and, so far, supply is not keeping up.”

Majors Freeport, Rio Tinto and BHP Group Ltd also have U.S. copper projects of their own under development. These come just as copper prices are forecast to rise more than 10 percent in the next two years, according to Canaccord Genuity.

Nevada Copper’s project has been largely supported by local residents in a state whose economy is linked to mining. But elsewhere, there has been opposition due to concerns about water rights and native lands.

“Green technologies can have a dark side,” said John Hadder of Great Basin Resource Watch, a Nevada-based environmental group.

SMALL VERSUS BIG

Nevada Copper and other junior miners have an advantage over larger peers. Their smaller balance sheets force them to plan small copper mines, making permitting and negotiations with local residents easier.

Rio and BHP, for instance, have been trying since 2001 to open Arizona’s Resolution Copper mine, one of the world’s largest projects of its type.

The two are still waiting for regulatory clearance, having spent more than $1.3 billion since 2001, in a delay brought on partly by a dispute involving local American Indian tribes.

The mine is not slated to open until at least 2030. The U.S. Forest Service is expected to post a draft environmental study on the project by this summer, after which American Indian groups and others will be able to give feedback.

Rio is also studying ways to open the mine sooner – perhaps a year or two – by making engineering changes, but nothing has been finalized, said Arnaud Soirat, head of Rio Tinto’s copper and diamond businesses.

Resolution is on U.S. federal land, complicating the development. Many of the projects that are set to open in the next two years, though, are on private land, fueling an easier path to bring copper to a hungry market.

“I’m convinced over time there will be a global movement toward renewable energy generation and electric vehicles … that means the world will need our U.S. copper,” said Freeport CEO Adkerson.

(Reporting by Ernest Scheyder; Editing by Amran Abocar and Chris Reese)

Maurice

Categories
Junior Mining

PACTON Finalizes Initial 2019 Pilbara Exploration Plan

VANCOUVER , Jan. 24, 2019 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce that it has finalized initial 2019 exploration plans for three of its Pilbara orogenic and conglomerate gold projects in Western Australia .

Highlights:

  • Boodalyerrie multiple km of high grade vein and stockwork systems.
  • Egina high grade bedrock gold + sampling extensive overlying alluvial gravels.
  • Nullagine (Beaton’s Creek) area Hardey formation conglomerate and fracture sampling.

Geological data and target inventories are being compiled for Pacton’s projects in Western Australia’s Pilbara craton. (Figure 1). Numerous targets types have been identified, most with surface gold occurrences, including Paleoarchean and Mesoarchean orogenic shear hosted occurrences and intrusion related environments. Most of tenements also contain the unconformably overlying, horizontal Fortescue Group gold-bearing Mount Roe and Hardey conglomerates. Pacton is currently planning the remainder of its 2019 exploration program, which shall include field work on all of its Pilbara tenements.

Figure 1. Location of Pacton’s Pilbara tenements (CNW Group/Pacton Gold Inc.)

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Figure 1. Location of Pacton’s Pilbara tenements (CNW Group/Pacton Gold Inc.)

Boodalyerrie Project

Boodalyerrie, Pacton’s most easterly Pilbara tenement, (Figure 1), hosts a prominent swarm of up to 10 m thick gold-bearing veins and stockworks hosted in a granitic tonalite host rock. Superficial reconnaissance prospecting and surface sampling conducted in 2013 returned encouraging grades. Pacton has prioritized exploration of the Boodalyerrie based on image analysis, including satellite hyperspectral data, which indicates large areas of alteration between the most massive quartz veins. This is interpreted as representing a stockwork of smaller, nested vein systems that present excellent, large, pervasive gold-bearing targets.

The Boodalyerrie tenement also contains over 20 km of strike length along the contact of Fortescue Group rocks that unconformably overlie the tonalite pluton. The Fortescue Group Mount Roe formation and the directly overlying Kylena basalt are present. Geological relationships indicate that the emplacement of the quartz veins precedes the deposition of the Mount Roe formation. Consequently, the vein system is interpreted to extend under the Mount Roe formation.

The initial 2019 Boodalyerrie exploration program will include detailed sampling over the entire tonalite pluton, with emphasis on the large alteration patches. Preliminary planning for a targeted drill program is underway for currently identified targets and will include expansion for additional targets identified by the sampling program.

Figure 2. Fortescue Group Kylena and Mount Roe formations overlap the older Archean pink tonalite pluton. The tonalite is intruded by a massive system of gold-bearing quartz veins. The 3D insets show the influence of the resistant quartz veins in controlling the topography. The entire pluton contains obvious, greenish alteration zones that suggest less resistant quartz stockworks. (CNW Group/Pacton Gold Inc.)

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Figure 2. Fortescue Group Kylena and Mount Roe formations overlap the older Archean pink tonalite pluton. The tonalite is intruded by a massive system of gold-bearing quartz veins. The 3D insets show the influence of the resistant quartz veins in controlling the topography. The entire pluton contains obvious, greenish alteration zones that suggest less resistant quartz stockworks. (CNW Group/Pacton Gold Inc.)

Egina Projects (Friendly Creek, Golden Palms , Hong Kong and Arrow South tenements)

Pacton’s Egina properties, (Figure 3), are contiguous with Novo Resources Corp.’s extensive Egina tenements which contain gold-bearing lag gravels that overlie Mesoarchean age orogenic gold occurrences, and locally, formations of the basal Fortescue Group. To the southeast of the Novo tenements, Pacton’s Friendly Creek, Hong Kong and Golden Palms tenements contain gold showings, including gold nuggets, in areas of Mesoarchean basalts, and in lag gravels mapped as alluvial deposits. To the west and northwest of the Novo project, Pacton’s Arrow South and Arrow North projects contain Archean orogenic gold prospects that are partially covered with extensive layers of alluvial gravels and conglomerates.

Pacton’s initial 2019 Egina exploration will consist of spot sampling of gravels with subsequent follow-up samples based on initial results. Pacton is able to undertake bulk sampling operations as a result of its 2018 strategic alliance with Artemis Resources, which includes access to the Artemis Radio Hill processing plant, now nearing completion.

The initial 2019 Egina exploration program will also include more detailed mapping and sampling of the gold-bearing Mesoarchean basaltic rocks, and their associated erosional gravels.

Figure 3. Distribution of alluvial and colluvial deposits in the Egina area. (CNW Group/Pacton Gold Inc.)

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Figure 3. Distribution of alluvial and colluvial deposits in the Egina area. (CNW Group/Pacton Gold Inc.)

Nullagine -Beatons Creek (Impact 5 tenement)

The Beatons Creek gold project, (Figure 4), consists of extensive gold-bearing Hardey formation conglomerates that outcrop on the eastern edge of a Fortescue Group plateau that accumulated in the Nullagine sub-basin. Novo Resources Corp’s gold project is located immediately west of the town of Nullagine. Immediately east of Nullagine lies the historic Mosquito Creek gold district represented by orogenic gold deposits in older Archean rocks.

Novo has been prospecting, sampling and drilling its Beaton’s Creek project for several years, including a 1,000 m deep reconnaissance hole collared in the Kylena basalt which overlies the Hardey formation and the basal Fortescue Mount Roe basalt. Novo’s sampling and drilling programs have established that gold-bearing units show a substantial increase in gold grade in proximity to faults that cut the Hardey formation.

Figure 4. Location, geology and stratigraphic position of Pacton’s Impact 5 tenement. (CNW Group/Pacton Gold Inc.)

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Figure 4. Location, geology and stratigraphic position of Pacton’s Impact 5 tenement. (CNW Group/Pacton Gold Inc.)

Pacton’s Impact 5 tenement is located approximately 17 km northwest of Novo’s Beatons Creek project and lies on the western edge of the Hardey formation plateau. Pacton has established a stratigraphic equivalency between the exposed Impact 5 western plateau edge and the productive stratigraphy at Beatons Creek. (Figure 5). Moreover, the Hardey formation within the Impact 5 tenement is intensely fractured with steep dipping faults and multiple networks of low displacement shears that collectively form a pervasive fracture network.

The initial 2019 Impact 5 exploration program will consist of surface prospecting along the Hardey plateau’s western edge and along dissected drainages. A specific 70 m thick stratigraphic interval will be investigated on the basis that it is interpreted to correlate with the Beatons Creek gold-bearing stratigraphy. Additionally, the intense fracture network will be sampled on surface, in drainages and along the western Hardey plateau edge.

Figure 5. Selected images of Impact 5 locations showing intense, fractal, low-displacement faults and fractures. (CNW Group/Pacton Gold Inc.)

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Figure 5. Selected images of Impact 5 locations showing intense, fractal, low-displacement faults and fractures. (CNW Group/Pacton Gold Inc.)

About Pacton Gold

Pacton Gold (PAC: TSXV; PACXF: US) is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia.  The Company currently controls the third largest conglomerate-hosted gold property portfolio totaling in excess of 2,500 km2 and continues to aggressively review additional accretive acquisitions.

The technical content of this news release has been reviewed and approved by Peter Caldbick , P.Geo., a director 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.

Alec Pismiris
Interim President and CEO

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.

Pacton Gold Inc. (CNW Group/Pacton Gold Inc.)

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Pacton Gold Inc. (CNW Group/Pacton Gold Inc.)
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SOURCE Pacton Gold Inc.

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Categories
Blog

EXCELLON Expands High Grade Platosa Footprint Intersecting 2,356 g/p AgEq Over 5 Metres From Surface

Excellon Resources Inc. (CNW Group/Excellon Resources Inc.)

TORONTO , Jan. 24, 2019 /CNW/ – Excellon  Resources Inc. (TSX:EXN; OTC:EXLLF) (“Excellon” or the “Company”) is pleased to announce high-grade results from the ongoing surface exploration program at the Platosa Property in Durango, Mexico , where diamond drilling has expanded the NE-1S Manto eastward and identified an open zone of mineralization, with drilling ongoing.

Highlights:

  • Highest grade intersections encountered to date on NE-1S Manto, extending open zone of potential mineralization eastward from existing mineral resources.
  • Anomalous gold continues to be intersected along 623 Trend which continues into NE-1S Manto and remains open for expansion to the east.
  • High-grade intersections include:
    • 968 g/t Ag, 9.4% Pb, 20.1% Zn and 0.28 g/t Au or 2,356 g/t silver equivalent (“AgEq”) over 5.0 metres in EX18LP1151;
    • 1,127 g/t Ag, 8.41% Pb and 10.46% Zn or 1,996 g/t AgEq over 4.8 metres in EX18LP1155.

“We have encountered significantly higher than anticipated grades and widths at NE-1S from surface,” stated Ben Pullinger , Senior Vice President Geology. “More importantly, we have identified an open zone to continue expanding the mineralized footprint to the east with our ongoing drilling program during 2019.”
Exploration Results
The following table shows highlighted intervals from the current surface drilling program currently targeting the NE-1S Manto.

Hole ID

Interval(1)

Interval(2)

Au

Ag

Pb

Zn

AgEq (3)

From

To

metres

g/t

g/t

%

%

g/t

EX18LP1144

344.0

344.8

0.9

0.02

283

9.8

0.3

705

EX18LP1147

343.5

349.1

5.6

0.03

383

8.0

0.2

725

including

343.5

344.2

0.7

0.07

1,394

12.5

0.1

1,917

and

350.4

352.9

2.5

0.01

406

3.7

0.2

570

including

351.0

351.8

0.8

0.01

1,015

8.2

0.2

1,362

EX18LP1149

347.3

347.9

0.6

0.01

2,060

7.8

9.1

2,831

EX18LP1151

352.0

357.0

5.0

0.28

968

9.4

20.2

2,356

including

352.0

353.2

1.2

0.38

1,312

17.2

24.7

3,252

EX18LP1154

350.3

350.2

0.4

–

391

1.5

0.5

478

EX18LP1155

349.5

354.5

4.8

0.02

1,127

8.4

10.5

1,996

including

349.9

350.6

0.7

0.01

4,284

24.9

8.1

5,720

 

(1)

From-to intervals are measured from the drill collar.

(2)

All intervals are reported as core length, true width is estimated to be 85-95% of reported intervals.

(3)

AgEq in drill results assumes $17.00 Ag, $1.03 Pb and $1.23 Zn with 100% metallurgical recovery, consistent with earlier results from the ongoing drilling program.

 
Today’s results are from systematic step out drilling to the east of the NE-1S Manto. These holes define an additional approximately 35 metres of eastward extension, where mineralization remains open and is the target of ongoing surface drilling. These holes are also located along a gold-bearing northeast structural trend that continues from the 623 Manto.
Surface drilling continues with a drill rig testing targets in the same target horizon that hosts the Platosa Mine within the north-south trending Platosa corridor. The Company is also in the process of defining new targets at Jaboncillo , PDN, Saltillera North and South and San Gilberto through its ongoing fieldwork program.
Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico . The lab is accredited to ISO/IEC 17025. The Company has a comprehensive QA/QC program, supervised by an independent Qualified Person.

Platosa NE-1S Results – January 2019 (CNW Group/Excellon Resources Inc.)

Qualified Person
Mr. Ben Pullinger , P. Geo, Senior Vice-President Geology, has acted as the Qualified Person, as defined in NI 43-101, with respect to the disclosure of the scientific and technical information relating to exploration results contained in this press release.
About Excellon
Excellon’s 100%-owned Platosa Mine has been Mexico’s highest-grade silver mine since production commenced in 2005. The Company is focused on optimizing Platosa’s cost and production profile, discovering further high-grade silver and carbonate replacement deposit (CRD) mineralization on the 21,000 hectare Platosa Project and epithermal silver mineralization on the 100%-owned 45,000 hectare Evolución Property, and capitalizing on current market conditions by acquiring undervalued projects in the Americas.
Additional details on the La Platosa Mine and the rest of Excellon’s exploration properties are available at www.excellonresources.com.
Forward-Looking Statements
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced, the Company’s inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties, and particularly the September 7, 2018 NI 43-101 technical report prepared by SRK Consulting ( Canada ) Inc. with respect to the Platosa Property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States. 

SOURCE Excellon Resources Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/January2019/24/c7446.html

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Junior Mining

CALIBRE Acquires a 100% Interest in the Siuna Gold-Silver-Copper Property in Nicaragua from Centerra Gold

Calibre Acquires a 100% Interest in the Siuna Gold-Silver-Copper Property in Nicaragua from Centerra Gold

January 24, 2019
Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce that the Company has agreed to acquire Centerra Gold’s (“Centerra”) 51% interest in the Siuna Gold-Silver-Copper Property(the “Property”) located in Northeastern Nicaragua (the “Transaction”). On closing of the Transaction, Calibre will own a 100% interest in the Siuna Property that contains the Cerro Aeropuerto gold-silver deposit and the past producing La Luz gold mine, in addition to numerous exploration targets.
Transaction Highlights

  • Calibre has agreed to purchase Centerra’s 51% interest in the 253 km2Siuna Property for 2,000,000 common shares of Calibre (a approximate 4.5% equity interest) and a 2.0% net smelter return royalty (the “NSR Royalty”) on production from the Property.
  • On closing of the Transaction, Calibre will own an undivided 100% interest in the Siuna Property which contains the Cerro Aeropuerto gold-silver deposit which currently hosts a NI43-101 Inferred Resource of 707,750 ounces of gold and 3.1 million ounces of silver, as well as the former La Luz gold mine with past production of 2.3 million ounces of gold.
  • On Closing of the Transaction the major shareholders of Calibre will include:
    • B2Gold Corp. 11.9%
    • Management and Directors 11.1%
    • Lukas Lundin 8.4%
    • Centerra 4.5%
  • Closing of the Transaction is subject to approval by the TSX Venture Exchange (the “Exchange”) and other customary conditions.

Property Highlights

  • Cerro Aeropuerto Inferred Mineral Resource: the NI43-101 compliant Inferred Resource at the Cerro Aeropuerto gold-silver deposit contains 707,750 ounces of gold and 3.1 million ounces of silver in 6.05 million tonnes grading 3.64 g/t Au and 16.16 g/t Ag at a cut off of 0.6 g/t (see Calibre News Release dated February 28, 2011).
  • La Luz Mine (Past Producer): the past producing open pit and underground La Luz Mine produced 2.3 million ounces of gold and is located one kilometre north of Cerro Aeropuerto.

On closing of the Transaction, Calibre will own 2.44 million AuEq ounces of Inferred Resources in four deposits on the Borosi gold-silver projects – see web site for details.
Greg Smith, President and CEO of Calibre stated: “We are very pleased to have acquired a 100% interest in the Siuna Property. Centerra have been an excellent partner in Nicaragua since 2015 and we welcome them as a Calibre shareholder. The potential of the Property is highlighted by the past producing La Luz gold mine and the existing Cerro Aeropuerto gold-silver deposit. Recent work on the northern portion of the Property confirms the district potential for the discovery of gold-silver skarns and gold-silver porphyry mineralization. The northern portion of the Siuna Property is contiguous to the currently producing Bonanza gold mine which hosts epithermal gold-silver vein deposits.”
Details of the Transaction
The terms upon which Calibre will acquire 100% of Property are as follows: Shares: Upon closing of the Transaction Calibre will issue Centerra 2,000,000 shares, representing a 4.5% equity interest in Calibre. Royalty: Centerra will retain a 2.0% NSR Royalty on production from the Property with Calibre having the right to (i) purchase 1.0% of the NSR Royalty for CDN$2,000,000 and (ii) being granted a first right of refusal on the remaining 1.0% NSR Royalty.
Closing of the Transaction is subject to approval by the TSX Venture Exchange (the “Exchange”) and other customary conditions.
The Property
The Siuna Property covers an area of 253 square kilometres in the Borosi Mining District of Northeastern Nicaragua. Siuna is located in the south-west portion of the Borosi Concessions and contains the past producing La Luz gold mine as well as, one kilometre to the south, the NI43-101 compliant Inferred Resource at the Cerro Aeropuerto gold-silver deposit. The Property covers a 35 kilometre belt of prospective geology similar to the La Luz and Cerro Aeropuerto deposits and property-wide exploration has outlined a series of additional gold-silver-copper targets.
Cerro Aeropuerto Inferred Mineral Resource
The Cerro Aeropuerto deposit contains gold and base metal bearing quartz veins and replacement style mineralization. The NI43-101 compliant Inferred Resource at the Cerro Aeropuerto gold-silver deposit contains;

Tonnes Grade
(Au g/t)		 Grade
(Ag g/t)		 Grade
(Aueq g/t)		 Contained
Au (ounces)		 Contained
Ag (ounces)		 Contained
Aueq (ounces)
6,052,000 3.64 16.16 3.89 707,750 3,144,500 757,000
  1. Resource models used Inverse Distance grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids and a base cutoff grade of 0.6 g/t.
  2. Resource Estimates for Cerro Aeropuerto detailed in Technical Report titled NI 43-101 Technical Report and Resource Estimation of the Cerro Aeropuerto and La Luna Deposits, Borosi Concessions, Nicaragua by Todd McCracken, dated April 11, 2011.
  3. Numbers may not add exactly due to rounding.
  4. Gold Equivalent (AuEq) was calculated using $1058/oz Au for gold and $16.75/oz Ag for silver, and metallurgical recoveries and net smelter returns are assumed to be 100%.
  5. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. Mineral Resources that are not mineral reserves do not have economic viability.

Recent diamond drilling at the Cerro Aeropuerto gold-silver deposit completed subsequent to the resource estimate, has returned positive results including both wide mineralized zones and narrower high-grade intercepts including: 2.07 m grading 157.20 g/t Au and 117.7 g/t Ag and 8.12 m grading 22.47 g/t Au and 10.9 g/t Ag in drill hole CA16-022 and 26.03 m grading 6.39 g/t Au and 9.1 g/t Ag in drill hole CA16-020 (see Calibre News Release dated March 22, 2016) and 77.78 m grading 1.09 g/t Au and 13.7 g/t Ag in drill hole CA17-045 (see Calibre News Release dated January 11, 2018).
Additional diamond drilling completed on the Huracan porphyry gold-copper target located two to three kilometres south of the Cerro Aeropuerto deposit intersected wide zones of alteration containing porphyry-style gold-copper mineralization including 189.63 m grading 0.22 g/t Au and 537 ppm Cu in drill hole HU16-037 and 72.23 m grading 0.27 g/t Au and 881 ppm Cu in drill hole HU16-031 (see Calibre News Release dated March 23, 2017).
La Luz Gold Mine (Past Producer)
The Siuna Property is host to the historic La Luz mine which is located one kilometre north of the Cerro Aeropuerto deposit. Mineralization at the La Luz mine is hosted by skarn assemblages associated with a series of intrusive bodies. Gold occurs in zones of disseminated and stringer pyrite, chalcopyrite, and sphalerite. The mine produced more than 2.3 million ounces of gold from open pit and several underground levels developed down to 450 metres below surface. The past producer, which operated primarily between 1912 and 1968, processed 17.1 million tonnes of ore grading 4.14 g/t gold producing 2.3 million ozs gold.
Mina Victoria Gold-Copper-Silver Project
The Mina Victoria Project is one of the most advanced exploration projects on the Property. Previous work including prospecting, stream sediment sampling and subsequent soil sampling has defined a broad Au-Cu-As anomaly over an area of 3.0km by 4.0kms. The anomalous gold-copper trench results have been traced for hundreds of metres where anomalous Au-Cu assays are associated with highly oxidized zones associated with dikes ranging from 2 – 20 metres in width, commonly located in close proximity to steeply dipping faults and shear zones. Significant trench results from this area include: 45.00 m grading 0.40 g/t Au and 0.19% Cu (VTR13-001) and 10.20 m grading 0.70 g/t Au and 0.11% Cu (VTR13-021).
Additional Exploration Targets
Exploration completed over the last four years includes extensive soil sampling covering the entire 253 km2 Property, rock sampling, ground magnetic and IP geophysical surveys, targeted trenching and pit sampling, and limited drilling. This work has identified a series of kilometre-scale precious and base metal anomalies associated with intrusive bodies. Target zones include; 1) El Dorado Trend, 2) El Avion Target, 3) Roskilete, 4) Cerro Asa and 5) Montes De Oro.
Calibre Mining Best Practice
Calibre is committed to best practice standards for all exploration, sampling and drilling. Drilling was completed by independent contractors. 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 665 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 owns 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.
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Base Metals

GRANITE CREEK COPPER Appoints Alicia Milne as Corporate Secretary

GlobeNewswire

VANCOUVER, British Columbia, Jan. 21, 2019 (GLOBE NEWSWIRE) — Granite Creek Copper Ltd. (GCX.V) (“Granite Creek” or the “Company”) announces the appointment of Ms. Alicia Milne as Corporate Secretary, effective immediately.

Ms. Milne has over 20 years’ experience providing corporate secretary, securities compliance and corporate paralegal services to companies listed on the NYSE, TSX and TSX Venture Exchanges, with a focus on the resource sector. She is a member of the Governance Professionals of Canada and is on the Board of Directors of Women in Mining British Columbia.

Mr. Timothy Johnson, President & CEO, stated, “We are very pleased to have Ms. Milne join Granite Creek as we continue to develop our corporate infrastructure. The Company expects to announce further additions to the team over the coming weeks, as well as updates with respect to the Stu project and our 2019 exploration plans.”

About Granite Creek Copper

Granite Creek is a newly-launched copper-focused exploration company. The Company’s flagship project is the 111 square kilometer Stu Copper property located in the Yukon’s Carmacks copper district, adjacent to Capstone Mining’s high-grade Minto Cu-Au-Ag mine and Copper North’s Carmacks Cu-Au-Ag project. More information about the Company and the Stu Copper property can be viewed on the company website at www.gcxcopper.com.

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 platinum and palladium, silver and copper producers. Member companies include Group Ten Metals (PGE.V) in the Stillwater PGM-Ni-Cu district of Montana, Metallic Minerals (MMG.V) in the Yukon’s Keno Hill Silver District, and Granite Creek Copper (GCX-H.V) in the Yukon’s Carmacks copper district.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President

Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca

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.