Proven ProbableThanks to Jennifer Shanse, who has very generously recorded and edited speeches for the last many years, recordings of speeches from Capitalism & Morality 2018 are now available and can be accessed using the linked playlist.
Also, one-third of the seats for the next seminar are now gone. If you haven’t already, please register using the Paypal link at the bottom of the linked page.
Warm regards,
Jayant Bhandari
www.jayantbhandari.com
December 4th, 2018, Vancouver, B.C., Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic” or the “Company”) is pleased to announce initial results from the 2018 exploration program conducted at its 100% owned McKay Hill Project, located 50 km north of the historic Keno Hill Silver District, and adjacent to ATAC’s Rackla Property, in the Yukon Territory. Highlights include the outline of six areas of highly elevated silver, lead, zinc, copper and gold in soils of 1 to 1.5 km in length that remain open to further expansion.
Soil sampling was conducted as part of the McKay Hill Project exploration program in 2018 in order to expand the previously limited sampling. The soils program covered an area approximately 3 km long by 1.5 km wide with samples collected at approximately 50 m spacing.
Figure 1 – Soil Assay Contours (Silver Equivalent)
Within this 3 km long area are six discrete zones of elevated soil values, consistently registering between 2 g/t to 200 g/t Ag Eq. (yellow to magenta colours) that correspond with the target areas previously identified through mapping and rock sampling, expanding these areas with more continuous coverage where outcrop exposure is limited on the property (see Figure 1). These large areas of highly elevated metals in soils support the potential for significant scale mineralized systems in the bedrock below. The soil anomalies defined both by their strong tenor and large areal extent coincide spatially with both the historic and the new vein exposures that together outline the Central Zone and five additional newly defined target areas.
McKay Hill Central Zone
The Central Zone was the focus of historic exploration and high-grade production in the 1940s from a small area of the No. 6 Vein Corridor. The 2018 soil sampling grid was designed to expand on previous sampling that showed elevated metals in soils along the main Central Zone ridge, where most of the previously known mineralized exposures had been identified. When viewed in the context of the area’s geology, the new results from the 2018 sampling highlight that the Central Zone is one of a series of roughly 1 to 1.5 km long, east-west to northeast trending zones of mineralization on the property. The mapped mineralized structures in the Central Zone consist of: 1) thick, sub-vertical, sulfide-bearing quartz veins in three predominant orientations striking north-south, east-west and north-east; and 2) numerous parallel massive sulfide veins up to 2 m wide typically striking north-easterly with a sub-vertical dip. Together these vein sets generate the large, property-scale soil anomaly that is open in multiple directions and will be the subject of additional sampling work in future programs.
Other Target Areas at the McKay Hill Project
In addition to the significant expansion of the main Central Zone, systematic exploration on the McKay Hill Project over the last two years has also identified and refined six additional surrounding target zones: West McKay, Falls, Bella, Red, Snowdrift and Independence (Figure 1).
The West McKay anomaly appears to be a significant parallel zone to the Central Zone and contains some of the highest soil grades from the survey, coinciding with several newly-defined sulfide-bearing quartz veins that were located in 2018 and that have similar orientations as the vein structures seen in the Central Zone. The Red, Falls, Bella and Independence zone grids are also open to expansion in several directions and additional follow up sampling will be planned in future programs to determine the extent of the open soil anomalies and to provide expanded coverage. To date, Metallic has identified 37 vein structures at the McKay Hill Project, 18 of which were identified during the 2018 field program.
Metallic’s CEO and Chairman, Greg Johnson states, ”We are very pleased with the these initial results from the 2018 McKay Hill Project work that are outlining a number of significant mineralized systems of scale. These metal in soil anomalies, coupled with the historic and newly discovered high-grade vein occurrences only cover a portion of the McKay Hill Project but support the potential for a district scale system that is significantly larger than previously recognized. The tenor and scale of the surface anomalies indicate potential for broad zones of high-grade mineralization that warrant further investigation through additional surface sampling work and drill testing. With the successful exploration program at the McKay Hill Project, new claims have been staked to cover additional prospective ground and planning for the 2019 work program is underway. Additional results from rock sampling and initial trenching at the McKay Hill Project are pending and are expected in the coming weeks. We also anticipate providing a project update and results from our advanced Keno Silver Project in the Keno Hill Silver District.”
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 km to the south. McKay Hill is a historic high-grade producer that shows potential to host a significant district scale vein system similar to Keno Hill but that have seen very limited modern exploration. McKay Hill was discovered and initially explored in the 1920s with selective mining in the 1940s producing 143 tonnes of high-grade material from the No. 6 Vein Corridor area, grading 390.8 g/t Ag and 74.1% Pb.1
1Geological 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 with over 300 million ounces of past production and current high-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.
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
All samples were assayed by 36 Element Aqua Regia Digestion ICP-MS methods at Bureau Veritas labs in Vancouver. 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.
Toronto, Ontario and Vancouver, British Columbia–(Newsfile Corp. – December 4, 2018) – Minera Alamos Inc. (TSXV: MAI) (“Minera Alamos” or the “Company”) is pleased to provide an update of its 2018 development activities at the Santana gold project located in Sonora, Mexico. Since the project was acquired as part of the merger completed in April this year with Corex Gold, the Company has aggressively advanced the Santana project.
“As the year draws to a close the Minera Alamos team has made excellent progress at Santana in anticipation of what we expect to be our first commercial mine in 2019. The consistent recovered grade from the bulk test work at Nicho Norte coupled with low cyanide consumption suggests the potential for a robust open-pit, heap-leach operation. As a result, discussions with mining contractors have been initiated in anticipation of approval of our commercial permit applications and making a final construction decision,” stated Minera Alamos President Doug Ramshaw. “The recent approvals of the Company’s permit applications at the La Fortuna gold project exemplify a core competency of our team and its experience of working within the permitting environment in Mexico. We expect that these efforts will be equally successful at the Company’s Santana project and look forward to providing our shareholders with the news of those permits in near future.”
Test Mining and Mine Development Activities
Leaching from the test pad is winding down; however, the Company is still recovering residual gold and has recently shipped additional gold in concentrate totaling approximately 150 oz. One final shipment is anticipated as this residual leaching draws to a close.
Exploration Successes
Ongoing Activities
As the Company awaits notification of its commercial-scale operation permit it has been active in developing strategy for a rapid shift to development and construction of a new mine including:
All these activities will contribute to a formal construction decision the Company anticipates making in the first quarter of 2019.
Figure 1 – Santana proposed gold heap leach operations site arrangement
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4183/41438_86a843ece4fc7926_002full.jpg
Note: The Company is not basing any production decision on a feasibility study of mineral reserves demonstrating economic and technical viability. Minera Alamos acknowledges and advises there is increased uncertainty and that there are specific economic and technical risks of failure associated with any production decision. The Company believes the historic experience and track record of senior management with gold heap leaching and by advancing in careful prudent steps helps ameliorate possible technical risks.
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress. The Company is awaiting the pending approval of permit applications related to the commercial production of gold at both the Santana and Fortuna projects.
The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos’ mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos’ financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos’ activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Vancouver, British Columbia–(Newsfile Corp. – December 4, 2018) – Miramont Resources Corp. (CSE: MONT) (OTCQB: MRRMF) (FSE: 6MR) (“Miramont” or the “Company”) is pleased to announce that it has received the required drilling permit for its Cerro Hermoso project in southern Peru. The Company anticipates drilling to begin early in the New Year.
Bill Pincus, Miramont’s President and CEO said, “We are very happy to begin our drill program at this exciting prospect. Our geologists have worked long and hard to advance this project and surface exploration continues to yield more and more evidence of widespread mineralization. It’s now time to test it with the drill rig.”
“Miramont also knows that working with the local community is vital. Our team makes a substantial effort in this area and is fortunate to have a positive working relationship with all local parties. We are glad to have their support and will work hard to maintain it.”
Cerro Hermoso is a large diatreme-hosted system with various styles of copper, gold and silver mineralization found in a four square kilometer area. It has many similar characteristics to other diatreme systems that are known to host large bulk-tonnage polymetallic deposits. Three priority drill targets have been identified by a combination of geologic mapping, geochemical sampling and geophysical prospecting. These are known as the Central Breccia Zone (Gold), the Stockwork Zone (Copper/Silver) and the Carbonate Replacement Zone (Copper/Silver). All three targets will be tested in the upcoming program. Further information can be found on the Company’s website.
Miramont has contracted AK Drilling International to conduct the first-phase diamond-core drilling program and is now coordinating mobilization of the drill rig. The Company has also completed construction of a core-shack and related infrastructure.
National Instrument 43-101 Disclosure
The technical content of this news release has been reviewed and approved by Mr. William Pincus, CPG, President and CEO of Miramont and a Qualified Person as defined by National Instrument 43-101.
About Miramont Resources Corp.
Miramont is a Canadian based exploration company with a focus on acquiring and developing mineral prospects within world-class belts of South America. Miramont’s key assets are located in southern Peru. The Cerro Hermoso property hosts a 1.4km diameter breccia pipe targeting gold – polymetallic mineralization, while the Lukkacha property is targeting porphyry copper mineralization.
On behalf of the Board of Directors,
MIRAMONT RESOURCES CORP.
“William Pincus”
William Pincus, President and CEO
For more information, please contact the Company at:
Telephone: (604) 398-4493
info@miramontrresources.com
www.miramontresources.com
Reader Advisory
This news release may contain statements which constitute “forward-looking information”, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company’s future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, fluctuations in market prices, successes of the operations of the Company, continued availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Best-in-Class Well Productivity and Low Decline Rate Further Validates Company’s Northern STACK Acreage
TULSA, Okla. and VANCOUVER, British Columbia, Dec. 03, 2018 (GLOBE NEWSWIRE) — Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC PINK: JROOF) is pleased to provide an update regarding its ongoing participation in its Oklahoma STACK Joint Venture (“STACK JV”). The Swordspear 15-23N-10W #1H, the STACK JV’s first Osage formation well, has now been on production, since running an electrical submersible pump (capable of handling high fluid volumes), for 160 days and has produced, on average, 330 BOE per day (50% oil). The strength and, more importantly, the longevity of the Swordspear well’s production profile has given the Company great confidence in its northern STACK acreage position.
Well positioned around significant activity from ExxonMobil and Alta Mesa Resources, the STACK JV’s northern STACK acreage, has pushed the boundary for where the Osage formation has been successfully proven with modern horizontal hydraulic stimulation. To achieve a strong well, it takes significant investment in actively drilling new wells in the same oil field, studying the geology where these wells exist and honing in on a repeatable completion technique. The Swordspear well, in addition to our non-operated positions in nearby peer wells, will provide a continual flow of data which will inform and improve our deep inventory of future multi-zone developments and the overall value of our coveted STACK resource.
The Company’s 2018 development plan within the STACK continues to focus on defining and proving up its acreage position for the Meramec and Osage formations through horizontal drilling. Currently, the STACK JV now has an interest in four Osage formation wells and two Meramec formation wells.
Brian Williamson, CEO of Jericho Oil, stated, “The Company, as evidenced by the Swordspear well production, continues to provide operational excellence by delivering best-in-class well productivity in this world-class play. Our current well results, 2019 planned development, coupled with surrounding marque peer wells planned for Q4-2018 and Q1-2019 will provide a springboard of net asset value for our STACK JV. While extremely satisfied with the result of this first Osage formation well, we will look to improve even further upon our future development as we continuously integrate real-time drilling, completion and production data into our geology and engineering models.”
About Jericho Oil Corporation
Jericho Oil (www.jerichooil.com) is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko basin STACK Play of Oklahoma. Jericho’s primary business objective is driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves. Jericho has assembled an interest in 55,000 net acres across Oklahoma, including an interest in ~16,000 net acres in the STACK Play. Jericho owns a 26.5% interest in STACK JV.
Jericho’s current operations are focused on the oil-prone Meramec and Osage formations in the STACK. The Jericho team applies advanced engineering analyses and enhanced geological techniques to under-developed resource areas.
Based in Vancouver, British Columbia, with operational headquarters in Tulsa, Oklahoma, Jericho trades publicly on the TSX-Venture (JCO) and OTC (JROOF). Jericho owns its net acre position in Oklahoma through, and participates in the STACK JV through, one or more wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho’s expectations include risks related to the exploration stage of Jericho’s project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.
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.
CONTACT:
Adam Rabiner
Director, Investor Relations
1.800.750.3520
investorrelations@jerichooil.com
COLORADO SPRINGS, Colo., Dec. 03, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE – Gold Resource Corporation (NYSE American: GORO) (the “Company”) today announced the continued expansion of the Arista Mine’s Switchback vein system with intercepts including 16.95 meters of 6.21 grams per tonne (g/t) gold, 80 g/t silver and 4.50% zinc. These new results extend the strike length by approximately 100 meters to the northwest while expanding the Switchback vein system’s vertical extent in depth and height in this area. In addition, newly discovered mineralized veins were intercepted in two drill holes testing an exploration target called “Andesite Hill”, located southwest of the Arista Mine’s Arista vein system. Both holes intercepted mineralized veins, including 2.29 meters of 4.01 g/t gold, 580 g/t silver and 5.07% zinc. Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, U.S.A. The Company has returned $111 million to its shareholders in monthly dividends since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery.
From an underground exploration drill pad located on level 10 of the Arista Mine’s Arista vein system, drill holes 518010 and 518011 tested the “Andesite Hill” exploration target southwest of the Arista vein system. Two individual mineralized veins were discovered in both drill holes located approximately 200 to 400 meters from the Arista vein system’s Splay 5 (see map). These newly discovered veins represent an expansion to the Arista Vein System, or the discovery of a third vein system to the southwest of both the Switchback and Arista vein systems.
“Andesite Hill” target drill highlights include (m=meters, g/t=gram per tonne; full drill table below):
Hole# 518010:
Hole# 518011:
incl. 0.72m of 5.89 g/t gold, 739 g/t silver, 0.32% copper, 1.72% lead, 7.07% zinc
Five holes were drilled from an exploration drill pad located east of the Switchback vein system on level 24. These five drill holes confirmed up-dip and down-dip continuity of known veins and extended the vertical mineralization within the Switchback vein system.
Switchback vein system up-dip and down-dip drill highlights include (full drill table below):
Hole# 518013:
incl. 1.25m of 7.45 g/t gold, 102 g/t silver, 0.63% copper , 1.12% lead, 1.87% zinc
Hole# 518020:
incl. 2.20m of 9.28 g/t gold, 81 g/t silver, 0.87% copper, 2.00% lead, 8.93% zinc
incl. 1.30m of 25.10 g/t gold, 244 g/t silver, 0.91% copper, 2.41% lead, 5.10% zinc
Hole 518024 was drilled from an underground drill station constructed at the end of a 200-meter long decline ramp driven from level 3 of the Arista Mine’s Arista vein system, to test the northwest extension of the Switchback mineralization by approximately 100 meters.
Northwest Switchback vein system 100-meter step-out:
Hole# 518024:
incl. 0.82m of 1.03 g/t gold, 312 g/t silver, 0.03% copper, 0.06% lead, 0.16% zinc
“We are very excited with the exploration drilling at the Arista Mine’s Switchback vein system as it continues to deliver impressive results,” stated Mr. Barry Devlin, Vice President of Exploration for Gold Resource Corporation. “Our exploration efforts extended the strike length and vertical extent of Switchback. In addition, the discovery of new, mineralized veins to the southwest of the Arista vein system speak to the expansion potential of this large epithermal vein system. It is too early to tell if these newly discovered veins are an extension of the Arista Vein system or if this a new parallel system to the southwest mirroring the Switchback and Arista Vein system. Either way this deposit continues to grow.”
“Our Oaxaca Mining Unit’s exploration team has again done an excellent job expanding the Arista Mine during 2018,” stated Mr. Jason Reid, President and CEO of Gold Resource Corporation. “It is also very positive that we are seeing higher grade gold such as the 6.21 grams per tonne over 16 meters in an up-dip drill hole into higher Switchback elevations. Unlike the Arista Vein system where we mined down over time, at the Switchback Vein system we are mining up and expect to see increased grades over the long run in this area of the Arista Mine. We also look forward to the completion of the annual reserve update reflecting the totality of this year’s exploration drill programs.”
| ARISTA MINE DRILL RESULTS December 2018 | ||||||||||
| Hole # | Angle | Vein | From | Interval | Au | Ag | Cu | Pb | Zn | |
| deg | Meters | Meters | g/t | g/t | % | % | % | |||
| “ANDESITE HILL” TARGET – NEWLY DISCOVERED VEINS | ||||||||||
| 518010 | -11 | Vein | 321.69 | 1.13 | 0.46 | 77 | 0.35 | 2.16 | 4.11 | |
| Vein | 373.07 | 0.48 | 1.42 | 342 | 0.11 | 0.29 | 0.27 | |||
| 518011 | -1.5 | Vein | 150.22 | 0.30 | 5.47 | 2,510 | 0.58 | 0.76 | 1.55 | |
| Vein | 355.88 | 2.29 | 4.01 | 580 | 0.36 | 3.84 | 5.07 | |||
| Incl. | 355.88 | 0.72 | 5.89 | 739 | 0.32 | 1.72 | 7.07 | |||
| SWITCHBACK | ||||||||||
| 518012 | 21.5 | Susana N | 149.15 | 0.75 | 3.16 | 29 | 0.20 | 1.15 | 3.07 | |
| 518013 | -40.5 | Soledad HW | 101.90 | 3.58 | 1.77 | 29 | 0.63 | 1.62 | 5.96 | |
| Incl. | 104.46 | 1.02 | 4.73 | 21 | 0.45 | 0.76 | 4.82 | |||
| Soledad | 115.97 | 4.17 | 4.17 | 63 | 0.68 | 0.81 | 1.55 | |||
| Incl. | 117.00 | 1.25 | 7.45 | 102 | 0.63 | 1.12 | 1.87 | |||
| 518014 | -51.5 | Soledad HW2 | 118.52 | 3.78 | 0.69 | 102 | 0.44 | 2.94 | 5.63 | |
| Incl. | 120.80 | 1.50 | 1.56 | 83 | 0.94 | 4.18 | 9.18 | |||
| Soledad | 133.62 | 3.70 | 0.05 | 177 | 0.82 | 1.08 | 5.21 | |||
| Incl. | 135.00 | 1.20 | 0.10 | 329 | 0.97 | 1.91 | 10.60 | |||
| 518017 | 29 | Soledad HW2 | 134.85 | 0.53 | 2.58 | 43 | 1.09 | 0.75 | 3.71 | |
| Soledad HW1 | 138.93 | 1.89 | 3.09 | 23 | 0.42 | 0.65 | 2.84 | |||
| Soledad | 144.57 | 6.60 | 2.87 | 16 | 0.25 | 0.23 | 1.43 | |||
| Incl. | 145.76 | 0.54 | 4.71 | 14 | 0.22 | 0.19 | 3.17 | |||
| Incl. | 150.07 | 1.10 | 4.42 | 36 | 0.29 | 0.39 | 2.18 | |||
| 518020 | 20.5 | Soledad | 143.65 | 16.95 | 6.21 | 80 | 0.52 | 1.76 | 4.50 | |
| Incl. | 145.00 | 2.20 | 9.28 | 81 | 0.87 | 2.00 | 8.93 | |||
| Incl. | 147.20 | 1.30 | 25.10 | 244 | 0.91 | 2.41 | 5.10 | |||
| 518024 | -8 | SB North | 209.88 | 1.46 | 1.33 | 190 | 0.09 | 0.48 | 0.80 | |
| Incl. | 210.52 | 0.82 | 1.03 | 312 | 0.03 | 0.06 | 0.16 | |||
| Assays by ALS, Vancouver, BC Canada. Meters Down Hole, Not true width. “HW” = Hanging Wall. | ||||||||||
About GRC:
Gold Resource Corporation is a gold and silver producer, developer and explorer with operations in Oaxaca, Mexico and Nevada, USA. The Company targets low capital expenditure projects with potential for generating high returns on capital. The Company has returned $111 million back to its shareholders since commercial production commenced July 1, 2010 and offers its shareholders the option to convert their cash dividends into physical gold and silver and take delivery. For more information, please visit GRC’s website, located at www.goldresourcecorp.com and read the Company’s 10-K for an understanding of the risk factors involved.
Cautionary Statements:
This press release contains forward-looking statements that involve risks and uncertainties. The statements contained in this press release that are not purely historical are forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. When used in this press release, the words “plan”, “target”, “anticipate,” “believe,” “estimate,” “intend” and “expect” and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements include, without limitation, the statements regarding Gold Resource Corporation’s strategy, future plans for production, future expenses and costs, future liquidity and capital resources, and estimates of mineralized material. All forward-looking statements in this press release are based upon information available to Gold Resource Corporation on the date of this press release, and the company assumes no obligation to update any such forward-looking statements. Forward looking statements involve a number of risks and uncertainties, and there can be no assurance that such statements will prove to be accurate. The Company’s actual results could differ materially from those discussed in this press release. In particular, there can be no assurance that production will continue at any specific rate. Factors that could cause or contribute to such differences include, but are not limited to, those discussed in the Company’s 10-K filed with the SEC.
Contacts:
Corporate Development
Greg Patterson
303-320-7708
www.goldresourcecorp.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/66a748ea-dcd0-43b3-b2f7-53f34fc60a32
I think depreciation is like magic.
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Original Source: Click Here
Vancouver, British Columbia–(Newsfile Corp. – November 30, 2018) – Rise Gold Corp. (CSE: RISE) (OTCQB: RYES) (“Rise Gold” or the “Company“) announces the grant of 2,900,000 stock options to employees and directors of the Company pursuant to the terms of the Company’s Stock Option Plan. The options are exercisable at $0.10 per share for a period of five (5) years and expire on November 29, 2023.
About Rise Gold Corp
Rise Gold is an exploration-stage mining company. The Company’s principal asset is the historic past-producing Idaho-Maryland Gold Mine located in Nevada County, California, USA. The Idaho-Maryland Gold Mine is a past producing gold mine with total past production of 2,414,000 oz of gold at an average mill head grade of 17 gpt gold from 1866-1955. Historic production at the Idaho-Maryland Mine is disclosed in the Technical Report on the Idaho-Maryland Project dated June 1st, 2017 and available on www.sedar.com. Rise Gold is incorporated in Nevada, USA and maintains its head office in Vancouver, British Columbia, Canada.
On behalf of the Board of Directors:
Benjamin Mossman
President, CEO and Director
Rise Gold Corp.
For further information, please contact:
RISE GOLD CORP.
Suite 650, 669 Howe Street
Vancouver, BC V6C 0B4
T: 604.260.4577
info@risegoldcorp.com
www.risegoldcorp.com
The CSE has not reviewed, approved or disapproved the contents of this news release.
Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of applicable securities laws. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words or statements that certain events or conditions “may” or “will” occur.
Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks, uncertainties and assumptions related to certain factors including, without limitation, obtaining all necessary approvals, meeting expenditure and financing requirements, compliance with environmental regulations, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements and information contained in this release. Rise undertakes no obligation to update forward-looking statements or information except as required by law.
Vancouver, British Columbia–(Newsfile Corp. – November 30, 2018) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”)provides additional disclosure regarding the US$3.8 million in bonuses announced in its asset portfolio and corporate update on November 28, 2018. This additional disclosure includes a summary of the rationale, approval process, recipients, and allocations related to the bonus.
Bonus Rationale
The Board awarded the bonuses to EMX’s management and staff in respect of their seven years of effort to monetize the Company’s investment in IG Copper LLC (“IGC”). Their efforts included:
(1) identification of the investment opportunity;
(2) providing significant technical oversight towards the discovery of a world class copper deposit at Malmyzh;
(3) raising the capital necessary to advance Malmyzh despite challenging markets and jurisdictional risks;
(4) coordinating the sales effort for Malmyzh over a period of several years;
(5) managing an exit with Freeport, including arranging an US$18.5 million bridge loan, which led to a greater return for all of IGC’s shareholders, not the least of which was EMX 40% shareholding; and
(6) assisting IGC with the successful sale of Malmyzh to a wholly owned subsidiary of Russian Copper Company (“RCC”) in October for US$200 million.
The transaction with RCC took 10 months to complete and required numerous complicated steps, including obtaining approval from the Russian Federal Anti-Monopoly Service. The successful outcome was due, in large part, to the significant efforts of EMX’s team, IGC’s team, and IGC’s advisors, Scotia Bank Europe plc and the London office of Norton Rose Fulbright LLP. In the opinion of EMX’s Board of Directors, this was sound and proper rationale for the bonuses paid.
Bonus Approval Process
Prior to the Malmyzh sales transaction, EMX’s management had developed a bonus plan for strategic investments whereby 7.5% of the after-tax profits of an individual investment could be paid as a bonus to EMX’s management and staff. As part of the bonus calculation, the Company’s cost basis was increased annually by 10% to reflect the time value of the investment.
The strategic investment bonus calculation, along with management’s recommended allocation of bonuses, was then submitted to the Compensation Committee of EMX’s Board for its review. The Compensation Committee is comprised of three independent directors. The Committee met several times over the past four months, both with management and independently of management, as part of the approval process. The Committee recommended the US$3.8 million bonus pool and allocation to the Company’s Board. The independent members of the Board unanimously approved the bonus pool and allocation with Dave Cole and Michael Winn abstaining from voting.
Bonus Allocation
The Board has awarded the bonuses to EMX’s Chairman and all of EMX’s management and staff (which includes support staff in Vancouver provided by Seabord Services Corp). Bonuses were not paid outside the Company.
The two largest awards were paid to David Cole and Michael Winn as they actively managed the Company’s investment in IGC for the past seven years. The Compensation Committee also felt it was important to award significant bonuses to senior management regardless of time spent on the investment as a win of this type is a team effort. The bonus allocations are as follows:
| Name | Position | Amount (US$) |
| David M. Cole1 | President & CEO | 1,100,000 |
| Michael Winn1 | Chairman of the Board | 1,000,000 |
| Eric Jensen1 | General Manager – Exploration | 400,000 |
| Dave Johnson1 | Chief Geologist | 400,000 |
| Christina Cepeliauskas | Chief Financial Officer | 175,000 |
| Jan Steiert | Chief Legal Officer | 175,000 |
| Other EMX Staff | 560,000 | |
| TOTAL | 3,810,000 | |
1 A portion of the bonuses to be paid to Dave Cole, Michael Winn, Eric Jensen,and Dave Johnson will be paid once the Company receives the final distribution by IGC related to escrowed funds.
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.
The recent advancements of the Company’s asset portfolio underscore EMX’s focus on steadily increasing global revenue streams from strategic investments, royalties, and other payments. The Company’s goal is to substantially grow our cash flowing royalty portfolio while providing multiple opportunities for exploration and production success.
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 merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,“ “intend,“ “expect,“ “anticipate,“ “will“, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company‘s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2018 (the“MD&A”), and the most recently filed Form 20-F for the year ended 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.
