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Vancouver, British Columbia–(Newsfile Corp. – November 29, 2018) – Great Bear Resources (TSXV: GBR) (the “Company” or “Great Bear”, TSX-V: GBR) today reported results from drilling of the Dixie Limb Zone (“DLZ”) completed during the Company’s summer 2018 drill program, and designed to test continuity of gold mineralization to depth. The DLZ is a multi-kilometre gold-mineralized contact that is located north of Great Bear’s recent high grade gold discoveries at the Hinge and South Limb Zones, and was the target of most historical drilling.
Great Bear also reports that 15 additional drill holes have now been completed in the Hinge and South Limb Zones (“SLZ”). Results are expected in one to two weeks and are not included in this news release.
Great Bear has systematically surveyed 108 historical drill collars and completed gyroscopic downhole surveys of 66 historical drill holes within the DLZ to-date. Results indicate many historical holes were mis-located, with maximum deviations approaching 100 metres, and historical drill directions deviated significantly from plan due to magnetic host rocks. These errors led to incorrect historical interpretations including that gold mineralization in the DLZ occurred in en-echelon lens-like zones lacking vertical continuity.
The Company tested vertical continuity of the DLZ’s gold mineralization with a series of 9 drill holes from 26 metres to 365 metres depth. All holes tested areas previously interpreted as unmineralized and cited as lacking geological continuity. All holes successfully intersected gold mineralization.
Highlights of the latest 9 drill holes testing the DLZ include:
Chris Taylor, President and CEO of Great Bear said, “While much of the past exploration work at Dixie was high quality, later interpretations of zone geometries were hampered by incorrect data. Using oriented drill core and gyroscopic surveys, we have cut through the effects of the magnetic background rocks which skewed past drilling and observe a consistent mineralized zone at the DLZ structure, including several steeply-plunging high-grade zones. This mineralization is open along strike and at depth. While more than 360 metres of continuity is a strong start, gold deposits in Red Lake often extend to kilometres of depth, and from that perspective we are only just scratching the surface of this zone’s potential.”
The most recent drill results are provided in Table 1. Highlighted results from the 2.3 kilometres of strike length of the DLZ drilled to-date are provided in Table 2. A summary of results of ongoing historical drill hole surveying is provided in Table 3. An updated long section of the DLZ including names and locations of various high-grade zones that will be targeted during the current drill program are provided in Figure 1. A map of current drill collars is provided in Figure 2.
Table 1: New drill results from the DLZ, showing vertical depth of intercepts. Drilling targeted previously interpreted unmineralized areas. Drilling is insufficient to determine true widths.
Drill Hole | From (m) | To (m) | Width (m) | Gold (g/t) | Vert. Depth (m) | |
DL-028 | 34.60 | 39.70 | 5.10 | 4.34 | 26 | |
DL-028 | including | 35.60 | 38.70 | 3.10 | 6.71 | |
DL-028 | and including | 36.10 | 38.20 | 2.10 | 8.10 | |
DL-032 | 61.95 | 67.35 | 5.40 | 1.06 | 40 | |
DL-029 | 46.70 | 50.70 | 4.00 | 3.23 | 41 | |
DL-029 | including | 47.70 | 49.60 | 1.90 | 4.44 | |
DL-029 | and | 76.00 | 78.00 | 2.00 | 3.33 | 69 |
DL-026 | 81.55 | 84.00 | 2.45 | 2.48 | 69 | |
DL-026 | 83.40 | 84.00 | 0.60 | 4.59 | ||
DL-030 | 74.20 | 76.50 | 2.30 | 2.64 | 69 | |
DL-027 | 382.70 | 403.50 | 20.80 | 1.60 | 304 | |
DL-027 | and including | 387.30 | 388.30 | 1.00 | 6.09 | |
DL-027 | and including | 387.30 | 387.80 | 0.50 | 10.70 | |
DL-027 | and including | 397.50 | 399.00 | 1.50 | 4.46 | |
DL-031 | Zone 1 | 335.20 | 337.50 | 2.30 | 6.16 | 257 |
DL-031 | including | 336.30 | 337.50 | 1.20 | 9.27 | |
DL-031 | Zone 2 | 423.25 | 433.85 | 10.60 | 1.39 | 324 |
DL-031 | including | 432.00 | 433.85 | 1.85 | 3.84 | |
DL-031 | and including | 432.00 | 432.60 | 0.60 | 6.03 | |
DL-037 | 334.70 | 349.60 | 14.90 | 1.85 | 321 | |
DL-037 | including | 335.30 | 335.85 | 0.55 | 7.74 | |
DL-037 | and | 344.90 | 346.85 | 1.95 | 6.32 | |
DL-036a | 358.50 | 362.10 | 3.60 | 2.50 | 346 | |
DL-036a | including | 360.50 | 362.10 | 1.60 | 5.12 | |
DL-036a | and including | 361.60 | 362.10 | 0.50 | 10.17 | |
DL-036a | and | 368.45 | 377.90 | 9.45 | 2.38 | |
DL-036a | and including | 369.60 | 371.25 | 1.65 | 4.07 | |
DL-036a | and including | 377.40 | 377.90 | 0.50 | 15.67 | 365 |
Table 2: Highlighted results from previous DLZ drilling to-date
Drill Hole | From(m) | To(m) | Width(m) | Gold(g/t) | Vertical Depth (m) | |
DL-04-04 | 228.15 | 232.77 | 4.62 | 9.75 | 190 | |
DL-04-06 | 333.3 | 345.67 | 12.34 | 7.54 | 323 | |
including | 335.42 | 342.49 | 7.07 | 12.26 | ||
and incl. | 335.42 | 336.88 | 1.46 | 40.27 | ||
DL-11-05 | 132.2 | 138.5 | 6.30 | 10.78 | 116 | |
including | 134.7 | 138.5 | 3.80 | 14.76 | ||
and incl. | 135.8 | 137 | 1.20 | 30.48 | ||
DL-005 | 162.6 | 173 | 10.40 | 16.84 | 128 | |
including | 164.6 | 172.45 | 7.85 | 21.53 | ||
and including | 171.4 | 172.45 | 1.05 | 130.10 | ||
DNW-001 | 52.6 | 58.2 | 5.60 | 3.52 | 38 | |
including | 56.8 | 58.2 | 1.40 | 12.74 | ||
DL-013 | 47.7 | 88 | 40.30 | 1.73 | 40 | |
including | 47.7 | 50 | 2.30 | 6.01 | ||
including | 58 | 70.3 | 12.30 | 3.13 |
Table 3: Surveying results to-date showing deviations in historical results
Type | Number of Holes Completed To-Date | Results |
Differential GPS survey of drill collar locations | 225 (104 historic) | Average horizontal shift of 4.39 m. Maximum horizontal shift of +/- 83.0 m E and +/- 51.72 m N. Average vertical shift of 4.03 m. Maximum vertical shift of +/- 51.67 m. |
Non-magnetic (gyroscopic) downhole survey | 66 | Average deviation change of 7.95 m at the end of each drill hole. Maximum shift of 148 m at end of drill hole. Significant errors were also observed by Great Bear geologists when using a compass at surface. |
Re-logging and sampling of historic core | 35 | Identified key lithological units and collected 1,566 samples for gold and ICP analysis |
Figure 1: Long section through the DLZ as drilled to-date showing currently reported drill results and locations of planned drill holes. The “88-4”, “5”, “Gap” and “88-4 Extension” zones are shown. All drill holes that intersect the DLZ contact in this area are shown. Areas without pierce points or composite intervals have not yet been drilled. Zone is open along strike and at depth.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5331/41347_d19702c8b4f2abf0_002full.jpg
The Company is now conducting a 30,000 metre, 150 drill hole drill program that is expected to continue through 2018 and 2019. Targets to be drilled include the Hinge Zone, SLZ and DLZ, as well as a number of newly defined, highly prospective geological and structural targets across the project. Results will continue to be released in batches as received.
Highlights of all of Great Bear’s drill results can be viewed at the Company’s web site at www.greatbearresources.ca
Figure 2: Plan map showing updated collar locations of current and pending drill results
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/5331/41347_d19702c8b4f2abf0_003full.jpg
About Great Bear
The Dixie property is located approximately 15 minutes’ drive along Highway 105 from downtown Red Lake, Ontario. The Red Lake mining district has produced over 30,000,000 ounces of gold and is one of the premier mining districts in Canada, benefitting from major active mining operations including the Red Lake Gold Mine of Goldcorp Inc., plus modern infrastructure and a skilled workforce. The Dixie property covers a drill and geophysically defined multi-kilometre gold mineralized structure similar to that hosting other producing gold mines in the district. In addition, Great Bear is also earning a 100% royalty-free interest in its West Madsen properties which total 3,860 hectares and are contiguous with Pure Gold Mining Inc.’s Madsen property. All of Great Bear’s Red Lake projects are accessible year-round through existing roads.
Drill core is logged and sampled in a secure core storage facility located in Red Lake Ontario. Core samples from the program are cut in half, using a diamond cutting saw, and are sent to Activation Laboratories Ltd. in Ancaster Ontario, and SGS Canada Inc. in Red Lake, Ontario, both of which are accredited mineral analysis laboratories, for analysis. All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning over 3.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. Certified gold reference standards, blanks and field duplicates are routinely inserted into the sample stream, as part of Great Bear’s quality control/quality assurance program (QAQC). No QAQC issues were noted with the results reported herein.
Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.
ON BEHALF OF THE BOARD
“Chris Taylor”
Chris Taylor, President and CEO
Inquiries:
Tel: 604-646-8354
Fax: 604-646-4526
info@greatbearresources.ca
www.greatbearresources.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
We seek safe harbor
TORONTO and NUCLA, Colo., Nov. 28, 2018 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE:WUC) (WSTRF) (“Western” or the ”Company”) wishes to provide an update regarding its announced re-opening of the Sunday Mine Complex (“SMC”) to address shareholder questions with respect to Western’s ore processing. Western is commencing this program with the goals of further defining its large vanadium resource and monetizing that resource. Western is in discussions with a number of large offshore companies who have the existing facilities to recover the vanadium contained in the SMC ore. The worldwide shortage of vanadium is impacting many companies around the world and thus making offtake agreements available for ore production. Initially ore will be shipped to existing offshore processing facilities with a longer term plan to build facilities in the United States. Once the SMC is opened, ore samples will be sent to the various interested parties for testing in their facilities. After testing, Western will negotiate offtake agreements to base load commercial production from the SMC.
As Western advances with its plans for re-opening of the SMC and is able to report on the timing of preparations, anticipated start dates and other milestones, Western will provide shareholders and investors with further updates.
In conjunction with the recent name change which reflects the increased importance of vanadium for the Company and the revised strategic approach to initiating production, Western has made updates to its website and corporate presentation. Further, a replay of George Glasier’s Silver & Gold Summit 2018 presentation has been uploaded to the media section of Western’s website. Please visit the Company website located at www.western-uranium.com for these updates.
About Western Uranium & Vanadium Corp.
Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of ablation mining technology.
Cautionary Note Regarding Forward-Looking Information: Certain information contained in this news release constitutes “forward-looking information” or a “forward-looking statement” within the meaning of applicable securities laws (collectively, “forward-looking statements”). Statements of that nature include statements relating to, or that are dependent upon: the Company’s expectations, estimates and projections regarding exploration and production plans and results; the timing of planned activities; whether the Company can raise any additional funds required to implement its plans; whether regulatory or analogous requirements can be satisfied to permit planned activities; and more generally to the Company’s business, and the economic and political environment applicable to its operations, assets and plans. All such forward-looking statements are subject to important risk factors and uncertainties, many of which are beyond the Company’s ability to control or predict. Please refer to the Company’s most recent Management’s Discussion and Analysis, as well as its other filings at www.sec.gov and/or www.sedar.com, for a more detailed review of those risk factors. Readers are cautioned not to place undue reliance on the Company’s forward-looking statements, and that these statements are made as of the date hereof. While the Company may do so, it does not undertake any obligation to update these forward-looking statements at any particular time, except as and to the extent required under applicable laws and regulations.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
George Glasier
President and CEO
970-864-2125
gglasier@western-uranium.com
Robert Klein
Chief Financial Officer
908-872-7686
rklein@western-uranium.com
Bob Moriarty
Archives
Nov 27, 2018
Lorimer Wilson January 24, 2011 $5,000 Gold Bandwagon Now Includes 85 Analysts! More and more economists, analysts and financial writers, 125 in fact, have taken the bold step of projecting the price at which gold will achieve its parabolic peak with 5 individuals claiming that the peak price will be realized sometime in 2011. Some have adjusted their previous prognostications higher given gold’s strong advance again in 2010 while others have jumped aboard what has become a bandwagon of optimism. The majority (85) maintain that $5,000 or more for gold is possible. These 5 Analysts Believe Gold Will Reach Parabolic Peak Sometime in 2011
These 6 Analysts See Gold Price Going Parabolic to +$10,000
These 46 Analysts See Gold Price Peaking Between $5,001 and $10,000
These 34 Analysts Believe Gold Price Could Go As High As $5,000
These 27 Analysts Believe Gold Will Achieve a Parabolic Peak Price Between $3,000 and $4,999
Source:- http://www.munknee.com |
There seems to be one name missing from the list. All those SWAGS have missed one important element. When you are talking about the price of gold, you are talking about two commodities, gold and whatever currency you are quoting the price in.
If you can’t predict the value of the dollar in the future with accuracy, you cannot predict the price of gold either.
Maybe they should have read what I think about “Experts” and “Gurus” in Nobody Knows Anything.
You should buy gold when it is cheap and unloved. You should then sell it when it is expensive and everyone loves it.
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Vancouver, Canada, November 28, 2018 – Group Eleven Resources Corp. (TSX.V: ZNG; OTCQB: GRLVF; FRA: 3GE) (“Group Eleven” or the “Company”) is pleased to announce an updated Mineral Resource Estimate (“MRE”) for the Company’s Ballinalack zinc project in Ireland. The estimate was prepared by CSA Global (UK) Ltd. (“CSA Global”) under contract to SLR Environmental Consulting (Ireland) Ltd. (“SLR”) and was based on recent drilling by Group Eleven, as well as, historic drilling from the 1970s onwards. Ballinalack is a joint venture between Group Eleven (60%-interest) and Shenzhen Zhongjin Lingnan Nonfemet Company Limited (“Nonfemet”, 40%-interest), one of the largest zinc producers in China. The Project is located 50 kilometres from Boliden’s substantial Navan (Tara) zinc mine.
“We are very pleased with this first NI43-101 Mineral Resource estimate on the project as it demonstrates concrete progress at Ballinalack. Specifically, we are delighted that the average grade of the MRE is significantly higher than the historic estimate from 1991 and that the metal content, despite a higher cut-off, remains above a billion pounds of zinc and lead” stated Bart Jaworski, CEO. “Furthermore, the deposit is open along and across strike, corroborating our recent drilling which helped identify four targets in the lower Navan Beds, three of which already contain strongly mineralized historic intercepts.”
“Strategically, it is important to remember that Ballinalack is located only 50 kilometres from Boliden’s giant Navan zinc mine – the largest zinc mine in Europe. With the Ballinalack MRE completed, we now have a springboard from which to focus on significant discovery both near the deposit and regionally as part of our ongoing ‘Big Think’ initiative.”
The Ballinalack project contains estimated Inferred Mineral Resources of 5.4 million tonnes grading 8.7% Zn+Pb combined (7.6% zinc and 1.1% lead) and 9.0 g/t silver (see Exhibit 1). This represents the Company’s second resource after the maiden Inferred Mineral Resource announced on the 76.56%-interest Stonepark project, also located in Ireland (see news release dated April 17, 2018).
Exhibit 1. Summary table of Mineral Resource at Ballinalack zinc project, Ireland
Resource Category | Tonnes | Grades | Metal Content (pounds) | ||||
(‘000) | Zn (%) | Pb (%) | Zn+Pb (%) | Zn (mln) | Pb (mln) | Zn+Pb (mln) | |
Inferred | 5,400 | 7.6 | 1.1 | 8.7 | 898 | 136 | 1,034 |
Note: See ‘Important Notes’ on Page 2 for additional notes regarding Mineral Resource reporting parameters and assumptions.
Mineralization is near-surface, occurring at depths ranging from 10 metres to 300 metres, and dips 15° to 20° to the north. The deposit shows reasonable continuity of mineralization and consists of sub-horizontal, strata-bound (5 to >30 metres thick) lenses of massive and semi-massive sphalerite and galena within the Waulsortian limestone. SLR and CSA Global comment that the deposit is open along and across strike and recommend additional step-out drilling to potentially augment the resource estimate. The study also states that the ‘greenfields’ exploration ground at the Ballinalack project has significant potential for further discovery.
The updated NI 43-101 technical report on the Ballinalack project will be published and submitted to SEDAR within 45 days of this news release.
Further Details on Ballinalack Mineral Resource Estimate
The MRE was based on 102 diamond drill holes totalling 26,042 metres. The average drill spacings are 40m by 40m. The MRE has an effective date of August 30, 2018 and is reported at a zinc equivalent (ZnEq) cut-off grade of 5.2%, based on NSR (net smelter return) calculations of conceptual operating costs and metal revenue, and indicates reasonable prospects for eventual economic extraction. NSR-based cut-off grades tend to fluctuate based on changes in global metal prices. For reference, the cut-off in the historic estimate from 19911 was 4% zinc.
Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. No economic study has been completed over the project and NSR calculations are conceptual in nature and used only as the basis for determining reasonable chances of eventual economic extraction, a requirement of mineral resource disclosure.
The average grade of silver as part of the MRE was 9.0 g/t. This is a conservative estimate based on the fact that a portion of intercepts used to define the MRE were not historically assayed for silver. These were recorded as 0 g/t silver in the database and as such were assumed by CSA Global to be below detection limit and set to 0.25 g/t silver (representing half of detection limit) during estimation.
For further information on the four Navan Bed targets identified by Group Eleven after recent drilling, please refer to news release dated August 7, 2018.
Important Notes (Mineral Resource at Ballinalack zinc project, Ireland)
Classification of the Ballinalack MRE was completed based on the guidelines presented by Canadian Institute for Mining (CIM), adopted for Technical reports which adhere to the regulations defined in Canadian National Instrument 43-101 (NI 43-101).
Qualified Person
Dr Belinda van Lente, a Qualified Person as defined by NI 43-101, independent of the Company, has reviewed and approved the scientific and technical information as related to the preparation and reporting of the Mineral Resource set out in this news release. Dr van Lente is a resource geologist with over 13 years of industry experience, both in a consulting and production environment. Her experience includes Mineral Resource Estimates and audits on various commodities. She has extensive experience in the practical application of estimation methods, standards and procedures used in the creation and declaration of Mineral Resource estimates and is a Member of the Geological Society of South Africa (GSSA) and the South African Council for Natural Scientific Professions (SACNASP).
Quality Assurance / Quality Control (QA/QC)
CSA Global’s Qualified Person has reviewed the QA/QC data and considers that the data support the use of the drillhole data in a Mineral Resource estimate to be reported specific to the standards dictated by NI 43-101 and Form 43-101F1 (Standards of Disclosure for Mineral Projects).CSA Global’s Qualified Person has reviewed the QA/QC data and considers the data to be fit-for-purpose to support reporting of a Mineral Resource in accordance with NI 43.101.
About Group Eleven Resources
Group Eleven Resources Corp. (TSX.V: ZNG; FRA: 3GE and OTC: GRLVF) is focused on zinc exploration in Ireland. The Company’s large land package (99 prospecting licenses totalling 3,200 square kilometres) allows Group Eleven to leverage new geological thinking and geophysical technology to systematically rethink key aspects of the Irish zinc district. Key projects include Ballinalack (with Joint Venture partner Nonfemet), Stonepark (with Joint Venture partner Connemara Mining), Silvermines and Tralee. The Company’s team includes accomplished mining professionals with direct experience in finding mines, building companies and exploring Irish zinc deposits.
Additional information about the Company is available at www.groupelevenresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer
For more information, please contact:
Spiros Cacos, MA
Vice President, Investor Relations
E: s.cacos@groupelevenresources.com | T: +1 604 630 8839
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. 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. 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 technical report entitled “NI 43-101 Independent Report on a Base Metal Exploration Project at Ballinalack, Co. Westmeath, Ireland” with an effective date of November 20, 2017 by John Kelly and Paul Gordon (SLR Consulting Ireland) with respect to the Ballinalack project.
Vancouver, British Columbia–(Newsfile Corp. – November 28, 2018) – EMX Royalty Corporation(TSXV: EMX) (NYSE American: EMX) (the“Company” or “EMX”) is pleased to provide an update on advancements of the Company’s royalty and mineral property portfolio that totals over 90 projects on five continents. These assets provide revenue from royalty, pre-production and other payments, as well as upside optionality from operator funded projects. EMX’s diversified business model of royalty generation, royalty acquisition, and strategic investment provides multiple avenues for growing the Company’s portfolio and building shareholder value. Please see the global portfolio map below and www.EMXroyalty.com for more information.
(Figure 1) Note: Annotated projects with stars are discussed in this news release.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_002full.jpg
IG Copper Strategic Investment
EMX received its initial cash distribution of US $65.15 million from IG Copper LLC’s (“IGC”) sale of the Malmyzh project (“Malmyzh” or the “Project”) located in Far East Russia[1]. EMX’s strategic investment in IGC resulted from the Company’s recognition of Malmyzh in 2011 as an early-stage copper-gold porphyry opportunity with excellent discovery potential. EMX took a disciplined investment approach by backing IGC’s steady advancement of the Project over the years. This work included the early-stage exploration work that led to the discovery of the Malmyzh district, and the drill intensive programs that progressed the Project through resource definition and approvals in the Russian Federation. The execution of these programs, with strong financial and management backing from EMX, culminated in the sale of Malmyzh to Russian Copper Company for US $200 million, of which US $190 million has been released from escrow. The remaining US $10 million from the sale is being held in escrow, and subject to certain conditions, cash distributions of up to US $4 million will be made to EMX as funds are released over the next 12 months.
Royalty and Royalty Generation Properties
EMX’s royalty property interests include Leeville in Nevada, the Timok Project’s Cukaru Peki deposit in Serbia, and properties being advanced by operating companies in Turkey, the western U.S., and Scandinavia. EMX’s royalty generation programs are filling the mineral property pipeline with new acquisitions on open ground in geologically prospective regions.
North America. There are 38 properties in the portfolio, of which fifteen are royalties or optioned for an EMX royalty interest, as well as other consideration to the Company’s benefit. The Company advances the western U.S. royalty generation portfolio through its wholly-owned subsidiary Bronco Creek Exploration (“BCE”).
(Figure 2)
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_003full.jpg
Turkey. EMX holds five royalty properties, including Akarca, Balya, and Sisorta, as well as two available royalty generation projects in Turkey’s Western Anatolia and Eastern Pontides mineral belts.
(Figure 3)
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_004full.jpg
Serbia. EMX has a 0.5% NSR royalty covering the Timok Project’s Cukaru Peki copper-gold deposit[10]. Nevsun Resources Ltd (“Nevsun”) controls the Timok Project’s high-grade Upper Zone (characterized by epithermal-style mineralization), and is in a joint venture with Freeport-McMoRan on the Project’s Lower Zone (characterized by porphyry-style mineralization). Nevsun announced a friendly, all cash agreement in Q3 to be acquired by Zijin Mining Group Co. Ltd. of China for US $1.41 billion[11].
(Figure 4)
To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_005full.jpg
Nevsun filed a technical report on the initial inferred resource for the Lower Zone porphyry project of 1.659 billion tonnes averaging 0.86% copper and 0.18 g/t at a “dollar equivalent” cut-off of US $25/tonne[12]. The Lower Zone porphyry “ranks high in grade, size and contained metal for porphyry copper deposits worldwide” according to Nevsun. Nevsun’s technical report also included the previously announced Upper Zone Pre-Feasibility Study that outlined a 10 year mine life yielding approximately 1.7 billion pounds of payable copper and 516 thousand ounces of payable gold[13]. Initial Upper Zone production is estimated by Nevsun to be in 2022. Nevsun has stated that “There are multiple high grade Upper Zone style exploration targets above the Lower Zone and our exploration licenses have the potential to host entirely new porphyry systems with associated high grade Upper Zone style mineralization.”
EMX’s royalty properties in the Timok Magmatic Complex add significant upside potential from one of the world’s top copper development projects.
Scandinavia. EMX’s portfolio in Scandinavia totals over 35 royalty and royalty generation properties in Sweden and Norway. The Company has converted multiple properties to royalty and equity interests, while adding value via early-stage exploration to royalty generation properties that are available for partnership.
(Figure 5)
To view an enhanced version of Figure 5, please visit:
https://orders.newsfilecorp.com/files/1508/41299_d258ece7349f59b2_008full.jpg
Other Assets. EMX’s portfolio in Australia and New Zealand consists of orogenic gold, epithermal gold-silver, sediment hosted stratabound copper, and copper-zinc skarn royalty and royalty generation projects. EMX’s organically generated 0.5% NSR royalty portfolio in Haiti covers gold and copper exploration properties held by Newmont Ventures Limited, as well as the Grand Bois project which is controlled by a privately held Nevada corporation.
Other Company News. EMX is pleased to announce the appointment of Lori Pavle as Corporate Secretary, taking on the position previously held by Marien Segovia. EMX thanks Ms. Segovia for her service to the Company, and extends best wishes for her future endeavors. Ms. Pavle has over 20 years of experience in the administration of natural resource companies listed on the TSX and TSX Venture exchanges, with appointments that included Corporate Secretary, Corporate Administrator, and Legal Assistant. The Company welcomes Lori to the EMX team. Pursuant to the Company’s Stock Option Plan, an aggregate of 60,000 incentive stock options, exercisable at a price of CDN $1.57 per share for a period of five years, has been granted to Ms. Pavle along with a signing bonus, through the issuance of an aggregate of 21,000 common shares, subject to any applicable stock exchange approvals and vesting requirements.
The Company also announces that upon successful completion of the sale of the Company’s interest in the Malmyzh Project in Russia, a discretionary cash bonus has been allocated in an aggregate amount of US$3.8 Million to executive directors, officers, employees and consultants of the Company.
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.
Mr. Dean D. Turner, CPG, a Qualified Person as defined by National Instrument 43-101 and consultant to the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
-30-
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements“ that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived 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.
[1] See EMX news releases dated October 30, 2018.
[2] See Newmont Investor Presentation – August 2018.
[3] See AMI news release dated August 10, 2018.
[4] See South32 Financial Results & Outlook Year Ended 30 June 2018 dated August 23, 2018.
[5] See EMX news releases dated August 30, 2017.
[6] See EMX news releases dated February 28, 2017.
[7] See EMX news release dated August 8, 2016.
[8] See EMX news release dated April 17, 2018.
[9] See EMX news release dated August 13, 2018.
[10] Note: EMX’s 0.5% NSR royalty is subject to reduction only as provided in the royalty agreement.
[11] See Nevsun news release dated September 5, 2018.
[12] See Nevsun news release dated August 7, 2018 and Sedar filed Technical Report.
[13] See Nevsun news releases dated March 28, 2018.
[14] See Boreal news releases dated July 4, September 19, and September 26, 2018.
[15] See EMX news release dated April 19, 2018.
[16] See Sienna news release dated May 17, 2018.
[17] See EMX news release dated December 4, 2017.
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Not for distribution to United States newswire services or for dissemination in the United States
TORONTO, Nov. 27, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) announced today that it intends to issue, on a non-brokered private placement basis, units of the Company (the “Units”), at a price of $0.05 per Unit, for aggregate gross proceeds of up to $5,000,000 (the “Private Placement”). Each Unit will comprise one common share and one-half of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”), with each Warrant being exercisable to acquire one common share of the Company at a price of $0.07 for a period of 24 months following the closing date of the Private Placement.
The proceeds of the Private Placement will be used by the Company for the continued development of its 100% owned Bradshaw Gold Deposit (“Bradshaw”), and for working capital purposes. At the same time, now that the Company has secured a toll-milling agreement (see news release dated October 30, 2018) and expects to be in a position to start processing material from Bradshaw, Gowest is also pursuing a more significant, long-term strategic investment (see news release dated November 15, 2018).
Certain insiders of the Company may participate in the Private Placement and the Company may pay a finder’s fee to registrants who assist the Company in connection with the Private Placement. Completion of the Private Placement is subject to receipt of TSX Venture Exchange approval.
All of the securities issuable in connection with the Private Placement will be subject to a hold period expiring four months and one day after date of issuance. The Private Placement may be closed in one or more tranches.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements. This release does not constitute an offer for sale of securities in the United States.
It is anticipated that the closing of the Private Placement will occur on or before December 31, 2018.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Company’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100‐square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43‐101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre‐Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut‐off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
Forward-Looking Statements
This news release may contain certain “forward looking statements.” Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.
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.
For further information please contact:
Greg Romain
President and Chief Executive Officer
Tel: (416) 363-1210
Email: info@gowestgold.com