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NxGOLD Explorer’s Focus Is on ‘High-Grade Gold in World-Class Districts’


Christopher McFadden the President, Director, and CEO of NxGold sits down with Maurice Jackson of Proven and Probable to discuss peak gold and the value proposition that it presents for current and prospective shareholders. In addition, we will discuss 3 press releases very important press releases covering soil, grab, stream sediment samples, trenching, mapping, and assay results.
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Original Source: https://www.streetwisereports.com/article/2018/12/04/explorers-focus-is-on-high-grade-gold-in-world-class-districts.html

Explorer’s Focus Is on ‘High-Grade Gold in World-Class Districts’ 
Contributed Opinion

Source: Maurice Jackson for Streetwise Reports  (12/4/18)

Maurice JacksonChris McFadden, CEO of NxGold, sits down with Maurice Jackson of Proven and Probable to discuss his company’s exploration efforts on two continents.

Proven and Probable: Joining us today is Chris McFadden, the president, CEO, and director of NxGold Ltd. (NXN:TSX.V), where the focus is on high-grade gold in world-class districts.
Mr. McFadden, in our previous interview, we conducted a thorough, comprehensive interview regarding the value proposition of NxGold. For current and prospective shareholders, please read our in-depth exclusive interview published in September. Mr. McFadden, for someone new to the story, who is NxGold and what is the thesis you’re attempting to prove?

Chris McFadden: NxGold is a Vancouver-based gold explorer. Our main objective is to discover high grade large volumes of gold in first-class jurisdictions. So currently we have projects in Canada, projects in Nunavut and also in Western Australia in the Pilbara region.
Proven and Probable: I want to begin our discussion at the 10,000-foot level and get your perspective on a topic that has a number of speculators’ attention and that is the discussion of peak gold and how this may serve as a catalyst for junior mining companies and, in particular, NxGold.
Chris McFadden: I think that’s a great question because I think what we’re seeing in the industry at the moment and it’s something that’s been coming over the horizon for a few years now is that the majors have really cut back their exploration. They’re not spending the volumes of money that they used to spend on exploration for new gold deposits. So, over the last 5-10 years, actually there’s been a dearth of high-class, large-scale gold deposits and the majors are huge drop off in their production, in my view. You look at some of the production profiles for the big companies and gold production is going to potentially drop significantly in the years ahead because there hasn’t been that money spent on exploration.
So for companies like us that are exploring, that are spending money in the ground pursuing the next great discovery, I think there’s great potential there because if majors want to grow and stay in existence they need to look to juniors like us who are actually doing the work and opening up new teraines.
Proven and Probable: In our last interview you shared the next unanswered question for NxGold will be the implementation of a systematic approach to exploration and the anticipation of drill results. Since then NxGold issued three important press releases. Beginning with the 10th of September (Press Release) the company received and compiled assay results, preliminary mapping, trenching and lab analysis from the stream sediment samples. Share the details with us.

Chris McFadden: The company adopts a very systematic approach to its exploration. So we’re starting with very basic style exploration with stream sediment sampling, some trenching and grab samples. So that release from September was the output from the first phase of work at the Pilbara Project in Western Australia. One of the key highlights was in some of the trenches we opened up we had a visible gold in a specimen; after assay there’s 102 grams of gold in that specimen, also some silver, which was interesting as well.So that first pass work was a fairly random sediment sampling process. But those results were in that release. There were a number of other interesting results and in some of the sediment samples we took there was visible gold as well. So, obviously there’s some gold on the property and this highlights that for us.



Also it was very interesting because on the ridge we have on the southeastern side of the property there was consistent and numerous samples of an extended length of approximately 1.2 kilometers where there was visible gold in the stream sediment sampling. So that encouraged us. As I think I said in our original interview, each exploration dollar needs to be justified by success in the results that we obtain. So that encouraged us to proceed to continue our exploration work in the Pilbara Project.
Proven and Probable: On the 15th of October (Press Release) NxGold discovered a new vein exposure on the east side of the property called the Sun Target Area. What can you share with us?

Chris McFadden: Well, the Sun area is right over on the eastern side and is on the other side of the ridge if you’d like. So, from that first release and subsequent release will say that a lot of the attention is on the western or northwestern side of the ridge of the property. Sun is over the other side in the area where we haven’t previously done much work. Where there also wasn’t much connectivity from prospectors. So it was a bit of a punt on our part to go to the other side of the ridge, but we’re looking to see what happened on the other side. We were very encouraged to find some bits of good results from that side. Also, to find that vein on that side because what we’ve seen on the northern, or nort western side of the ridge with our trenching, also with mapping, is that there are considerable numbers of veins. It’s really exciting that they’re continuing on the other side of the ridge.
Also on that side of the property we’re much closer to the Artemis Resources grab and we know that it has been finding some good veins and good nuggets on its property as well. So it seems that with that result that there is some extent potentially to the system in this area.
Proven and Probable: This week NxGold issued a third and equally important press release regarding follow up work on stream soil and rock grab samples. What has the company excited here about the latest findings?
>p?Chris McFadden: What’s interesting from this latest release is the consistency of the results we are obtaining and that’s it’s confirming our earlier work that there is a primary source of gold somewhere here on this property. So it’s highlighting the key prospects on the property that we’ve been working on in the Sun, in the areas we call Eagle in particular and Hawk. So the particular areas of the property, Eagle and Swan and Hawk, where prospectors have been finding nuggets for a considerable period of time. So the results tell us that there is a primary source of gold here and we’re narrowing our focus down onto those areas as a result of this work.
Proven and Probable: Switching gears, multilayered question, what is the next unanswered question for NxGold? When should we expect results? What determines success?
Chris McFadden: As we reported in our last press release, we have undertaken some very systematic grid soil sampling at the Pilbara Project in the Eagle, Swan, and Hawk areas. So it’ll be really interesting to see what comes out of that systematic soil sampling process. We have something like 140 samples in total on those areas that we’re expecting results from very soon, hopefully in the next week or two at the latest. That will give us a really strong indications of where the primary source of gold is we hope on this area of the property. So it’ll be really exciting for us and really interesting because we can then use that very systematic grid soil sampling and combine it with our stream sediment sampling and our trenching rock chip sampling and the magnetics that we’ve done over the area.
We’ll have multiple layers of geological information that we can then interrogate to ensure that we have a really strong picture of what’s going on under the ground here at the Pilbara Project in Western Australia. Another interesting or exciting element that’s coming over the horizon is we’re very hopeful that the remaining licenses in this area, which have been under application for the last 12 months since we acquired the property, we’re hoping that they will be granted to us again in a very short term. That will also allow us to extend our exploration efforts in the Pilbara Project area, particularly we’ve been working right up to the edge of the boundaries there at Hawk. We’ve done the systematic soil sampling pretty much right up to the edge of the granted area. This will allow us to move then into the application areas and effectively almost double the area that we can work at the Pilbara Project.
So in terms of what amounts to success from this project and the work that we’re doing and hopefully soon to announce, it’ll be the identification using the systematic multilayer approach to exploration that’ll allow us to narrow our focus on target it on areas for the next stages of work.
Proven and Probable: Last question here for you, what did I forget to ask?
Chris McFadden: Well, as usual Maurice, your questioning is very in depth, but one thing we haven’t spoken about is the Kuulu Project in Nunavut. That’s still a project of great interest to us, but we continue to be unable to obtain the surface license that we need. But we continue to work with the communities there and are working very hard to try and find a solution to that challenge that we have. But we’ve been very patient there because that has the potential to be a truly world-class exploration project.
Proven and Probable: Mr. McFadden, for someone listening that wants to get more information about NxGold please share the website address.
Chris McFadden: Certainly, it’s very simple. It’s NxGold.ca.
Proven and Probable: As a reminder, NxGold trades on the TSX.V symbol NXN. For direct inquires please contact Travis McFearson at 604.816.2686. He may also be reached at TMcFearson@NxGold.ca. NxGold is a sponsor of Proven and Probable and we’re proud shareholders for the virtues conveyed in today’s interview. Last but not least, please visit our website www.provenandprobable.com where we interview the most respected names in the natural resource space. You may reach us at contact@provenandprobable.com.
Chris McFadden of NxGold, thank you for joining us today on Proven and Probable.
Investor RelationsTravis McPherson
Tel: 604-816-2686
tmcpherson@nxgold.ca
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure: 

1) Christopher McFadden: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: NxGold. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: NxGold.
2) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: NxGold. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: NxGold is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
3) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
4) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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Precious Metals

MILES FRANKLIN | Eccles Prison Blues—The Big Squeeze

Gary Christenson, Contributing Writer For Miles Franklin
Eccles Prison Blues—The Big Squeeze
Miles Franklin sponsored this article by Gary Christenson, the deviant investor.
Johnny Cash sang “Folsom Prison Blues” in 1957. The first verse is:
I hear the train a comin’
It’s rollin’ round the bend,
And I ain’t seen the sunshine
Since I don’t know when.
I’m stuck in Folsom Prison
And time keeps draggin’ on
But that train keeps a rollin’
On down to San Antone.
The Federal Reserve operates from The Eccles Building in D.C. Regarding the Fed I suggest changing “Folsom Prison Blues” to “Eccles Prison Blues.”
I see the crash a coming
It’s approaching like the wind,
And I ain’t seen real money
Since I don’t know when.
We’re stuck in Eccles prison
Their printing scam is moving on,
But the crash is a coming
And a financial reset will dawn.
What prison?
One hundred years ago certificates backed by gold and silver as well as gold and silver coins circulated as real money. Sadly, today’s currencies are debts issued by central banks, not real money. The Fed (U.S. central bank) issues Federal Reserve Notes—debts of the Federal Reserve. These notes – we call them dollar bills—circulate along with digital dollars as currency (funny money). Nothing but faith, confidence, and the ability of the US government to tax its citizens backs these notes.
Their game, their rules. You can’t buy milk at Wal-Mart with Silver Eagles. They want you to use a credit card and increase your indebtedness to a bank. That bank takes a slice out of your transaction, plus they charge interest on the Federal Reserve Notes you must repay to the bank.
Their game, their rules. We are stuck in their debt-based fiat currency system. Fiat money apologists spout the nonsense that not enough gold exists to back these digital currencies because governments, commercial banks and central banks have created excessive debt. They pumped too many digital Federal Reserve Notes into economic circulation and pushed prices higher. The Federal Reserve makes the rules, and they want the price of gold to remain low and not parallel the rise in the number of currency units.
But there is trouble inside Eccles Prison. Those extra dollars were created from nothing and are backed by nothing. Funny money isn’t real like gold and silver, and it devalues. For over 100 years the government and banking cartel have devalued the dollar. Our mini-dollar today buys what a penny or two purchased before congress accepted payoffs to pass the Federal Reserve legislation.
Why devaluation? The political and financial elite prefer fiat currencies they control and print. They increase their wealth while the rest of us… you know the drill. (They get the gold, you pay the debts.)
Rules in the Eccles Prison: We must use their “funny money” as currency. We are stuck with continual devaluation of the currency. We pretend funny money is a store of value, which history contradicts.
Our dollars shrink in buying power. Can you imagine the chaos if measuring units shrunk like dollars? A man stood six feet tall in 1971, but today he stands 27 feet tall. A baseball home run traveled 450 feet, but today’s slugger can blast a home run over 3,000 feet. Chaos!
Yet inside the Eccles Prison we accept this nonsense. As in Chicago politics, “The fix is in.” The banking cartel owns or rents most members of congress. After receiving the necessary political “contributions” legislators guarantee banking profits.
However, a major crisis might threaten banker profits. Expect a bail-out or bail-in from the Fed, the government, and citizens. Yes, citizens protect banker profits. Really? The interest paid on your savings nearly dropped to zero, but did the banking cartel lower the interest rate on your credit card balances? Whose tax dollars pay interest on the national debt? Depositor funds are legal liabilities of the bank, not your assets.
Stuck in Eccles Prison… The Fed controls interest rates, which have been close to zero since the crisis ten years ago. So what?
When interest rates are low mal-investments expand, corporations borrow $trillions and buy back their stocks. It boosts share prices and CEO compensation.
General Motors bought back $13.9 billion of their stock instead of improving their business operations, and now they are closing plants. General Electric bought back $40 billion and is in financial trouble. The banking cartel created $trillions from thin air, but they demand debts be repaid with Federal Reserve Notes extracted from corporate profits and individual income.
When interest rates rise, the debt service expands and profits fall. The big squeeze begins.
Will GE and GM survive without government bailouts? I don’t know, but they would have been more viable without the massive debts they accumulated to buy back their stocks.The Fed enabled these and many other bad decisions by creating inexpensive interest rates. Debtors are stuck in Eccles Prison.
The U.S. government owes national debt of $21.7 trillion. The Fed enabled the Treasury to sell bonds that increased government debt to unsustainable levels. The Treasury is also stuck in Eccles Prison.
SO WHAT?
Criminals may be stuck in Folsom Prison, as we are locked in Eccles Prison, but we can prosper despite the restrictions imposed by the Federal Reserve “funny money” system.
HOW DO WE PROSPER DESPITE THE RESTRICTIONS IMPOSED BY THE ECCLES PRISON GUARDS?
1)  Recognize their scam for what it is—a means of extracting wealth from the populace and transferring that wealth to the financial and political elite.
2)  Recognize that unbacked fiat funny money systems end in disaster. The powers-that-be can’t resist over-printing… and the value of the currency eventually drops to zero. History shows hundreds of examples. A future list of failed currencies will include dollars and pounds.
3)  Global debt of $250 trillion will be extinguished with defaults and hyper-inflation. Central bankers will sacrifice the dollar rather than the bond market. Expect hyper-inflation someday.
4)  Gold and silver have held their value for several millennia. They were valuable long before bankers conjured central banks into our world.
5)  Central banks have created dollars, euros, yen, and pounds by the trillions. When currencies fail, gold and silver will remain.
6)  Silver prices have been pounded lower since 2011, while stocks have been levitated with easy money created from nothing by the banking cartel. Stocks are now correcting lower and silver will – someday – correct much higher. Slowly, then rapidly…
From Alasdair Macleod:
“Any attempt to rescue the finances of the U.S. government, banks and businesses by printing money [fiat dollars] will simply provide more fuel for the inflationary fire, but it is hard to see that there can be any other material response by the Fed.”
CONCLUSIONS:
1)  Expect defaults and hyper-inflation.
2)  Expect ongoing devaluation of fiat currencies… slowly for now, then rapidly.
3)  Buy silver and gold. They are insurance and protection.
Miles Franklin sells silver. Call them at 1-800-822-8080 and tell them you agree with the Deviant Investor about silver. Your price will not change, but I might receive a benefit if you give my name as your reference.
If you have questions or comments, email me: deviantinvestor “at” gmail.com.
Hunter Riley III, Contributing Writer For Miles Franklin
A Platinum Blonde On The Gold Coast
I’m a gold and silver dude.
Mostly.
But for the first time ever, I went behind their backs and bought a different kind of precious metal.
I’ll get into what kind of metal in a moment.
As you know, I’m from the Second City.
Chicago.
Chicago is broken up into all these tiny little neighborhoods.
One of my favorite neighborhoods in Chicago is called “The Gold Coast”.
Chicago’s Gold Coast has been home to big mansions and the well heeled since the great Chicago fire of 1871. The Gold Coast really earned its reputation in the 1950’s and 60’s when guys like Sinatra and Hugh Hefner ran wild across the town.
Sinatra loved to stay at either the Ambassador East or the Drake Hotel. He’d hit dinner spots like the Pump Room, Twin Anchors, Rosebud or Mister Kelleys (now known as Gibsons). I personally love the Drake Hotel. On top of their bar, you can see where Joe Dimaggio and Marilyn Monroe carved their initials into the woodwork one drunken night.
Just down the street from the Ambassador East Hotel, Hugh Hefner started the original Playboy Mansion at 1340 N. State Street.
These dudes are gone now but their ghosts can still be felt on the Gold Coast.
People still flock to fill the legendary spots like Gibsons, Rosebud and Tavern On Rush.
Each of these restaurants have spectacular outdoor patios that line the Lambo filled streets of the Gold Coast in the Chicago summertime. It is definitely a place to see and be seen.
This last summer, I was dating a girl named Danika.
We hung out in the Gold Coast.
As we would walk past the outdoor patios on our way to dinner, I always felt this strange sensation.
Like everything I was doing was being watched intently. It was the weirdest sensation.
And then one day I figured it out.
I wasn’t being watched, I was getting hit by friendly watching fire because of who I was walking with.
You see, Danika is tall and has platinum blonde hair. (No pic sorry hahaha).
Wherever she goes, people watch and pay attention.
It is incredible.
She is on a magic bus ride in life that very few of us mere mortals can comprehend.
But whatever.
That’s not the point.
What this made me think of was it may be a sign that even though I’ve been a gold and silver guy all my life, it was now time to pay a little attention to platinum.
Not the blonde.
I’m talking about the precious metal platinum.
There is a lot of talk in the precious metals niche right now about the gold silver ratio and how inexpensive silver is when compared to gold historically speaking.
This is legit talk. Read my previous article called The Great Gold Silver Swap of 2018 if you want to dig in to the current gold silver ratio.
What there isn’t a lot of talk about is the current platinum gold ratio and how we are seeing somewhat historically cheap platinum prices.
Today’s gold spot price came in around $1220.
Today’s platinum spot price checked in around $840.
So gold is about $400 more expensive than platinum.
The neat thing is that since 1971, on average, platinum is about 25% more expensive than gold.
So with that number in mind, you would see platinum priced around $1580 an ounce to get back to the historical average.
I know many of you are swapping some of your gold for silver right now and maybe it is time to start swapping some gold for platinum too.
Can Platinum Go Any Lower?
The platinum experts I’ve spoken to say the metal is just about trading at the cost of production right now. If it uncharacteristically goes to the lows of the 2008 or 2004 crashes which would be around $750, then many mines will close and the price will rise again due to scarcity.
Never say never but to me it doesn’t seem like there is much downside to platinum right now. I guess gold could crash which would bring the platinum gold ratio back to the average but that also seems unlikely.
What Is Platinum Used For?
Platinum is used in both industry and investing.
Around 35% of all platinum mined each year is used for jewelry or investment.
The other 65% is used up by industry to make medical, electrical, chemical and automotive components like catalytic converters. The automotive industry actually uses about 40% of all platinum mined.
Sounds Good, But What Happens To Platinum During A Financial Market Crash?
Yes, the apex predator and biggest safe haven in financial panics is gold, but if gold is a wolf, platinum is a coyote. In past times of financial distress, platinum has followed gold’s lead as a safe haven asset that tends to be hoarded. The technicals of platinum and gold also are similar but since platinum is a smaller market, it is usually more volatile and makes bigger moves.
So Am I Swapping Some Of My Gold For Platinum?
Not a ton, but a little bit.
With the platinum gold ratio being so much in platinum’s favor right now it just makes sense to me. When the platinum I buy right now reverts back and becomes more expensive in relation to gold, I’ll probably sell it to increase the size of my gold stack.
Where can you get platinum?
Call them at 1-800-822-8080 and tell them world famous Hunter Riley III told you it’s time to go platinum for a little while. They can get you the precious metal, not the blonde.
If you’re looking for a platinum blonde instead, I suggest getting a table outside at Tavern On Rush on the Gold Coast in Chicago on a Sunday afternoon in June.
It is getting cold in Chicago.
Snow is falling as I write this.
Almost time to head south for the winter.
That Sunday in June sure seems a long way off.
Maybe I’ll see you there.
Hunter Riley III
Chicago, IL
Winter 2018
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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.
For your protection, we are licensed, regulated, bonded and background checked per Minnesota State law.
Miles Franklin
801 Twelve Oaks Center Drive
Suite 834
Wayzata, MN 55391
1-800-822-8080
Copyright © 2018. All Rights Reserved.
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CAPITALISM & MORALITY |

An Unparalleled Philosophy Seminar

Thanks 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

Categories
Precious Metals

JUNIOR MINING | Metallic Minerals Identifies Multiple Kilometer-Long Soil Anomalies at McKay Hill Project in Yukon Territory

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.

Categories
Precious Metals

JUNIOR MINING | Minera Alamos Provides Year-End Development Update for Santana Gold Project, Sonora, Mexico

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

  • Over 50,000 t of mineralized material was mined from Nicho Norte and heap leach tested to evaluate grades, recoveries, reagent consumptions and the impact of crush size.
  • Cumulative overall gold production from the test mining now totals 1,040 oz and represents a recoverable gold grade approaching 0.65 g/t Au.
  • Crush sizes for the various leach test phases varied from coarse crushing (<3″) to fine crushing (<1.2-5/8′) and agglomeration. Ultimate gold recoveries from all tests were excellent and consistent with the overall cumulative average. Crush size will ultimately be fine tuned to maximize future profitability at a proposed commercial scale.
  • While the use of fine crushing/agglomeration appears to improve the gold leach kinetics, ultimate recoveries remained similar to those achieved leaching coarse material.
  • Cumulative reagent consumptions for the bulk test are low amounting to <0.20 kg/t for both cyanide and lime.
  • The application for commercial-scale operating permits was submitted (see news release dated July 26th 2018), and the Company anticipates positive notification in the near future.

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

  • A successful Phase 1 drill program yielded positive results from the Nicho Main area including 127.0 m of 0.81 g/t Au, 80.4 m of 1.05 g/t Au and 93.5 m of 0.65 g/t Au with mineralization extending from/near surface (see news releases dated October 11th2018, October 17th 2018 and October 25th 2018).
  • The Phase 1 drill program resulted in the discovery of the Divisadero porphyry target located approximately 200 m north of the Nicho Norte zone, returning 95.7 m of 0.85 g/t Au, 9.8 g/t Ag and 0.33% Cu. Mapping and sampling has outlined a mineralized surface expression in excess of 200m x 300m (see news releases dated October 25th2018 and November 15th 2018).
  • The Phase 2 drilling program will commence shortly to follow up on new discoveries made at Santana.

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:

  • Contract negotiations with mining contractors
  • Water well drilling planning
  • Updating of the geological models based on results from Phase 1 drilling
  • Phase 2 drill program to follow up on recent discoveries

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

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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.

Categories
Base Metals

JUNIOR MINING | Miramont Receives Drilling Permit for Cerro Hermoso

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.

Categories
Oil & Gas

Oil & GAS | Jericho Oil’s First Osage Formation STACK Well Continues to Deliver Strong Results

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Jericho Oil’s First Osage Formation STACK Well Continues to Deliver Strong Results

GlobeNewswire

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

Categories
Precious Metals

JUNIOR MINING | Gold Resource Corporation Expands Arista Mine Drilling 16.95 Meters of 6.21 g/t Gold and Discovers New Mineralized Southwest Veins

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.

Arista Mine :Arista Mine Exploration Update
Arista Mine :Arista Mine Exploration Update

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:

  • 1.13m of   0.46 g/t gold,     77 g/t silver,  0.35% copper,  2.16% lead,   4.11% zinc
  • 0.48m of   1.42 g/t gold,   342 g/t silver,  0.11% copper,  0.29% lead,   0.27% zinc

Hole# 518011:

  • 0.30m of   5.47 g/t gold, 2,510 g/t silver,  0.58% copper,  0.76% lead,   1.55% zinc
  • 2.29m of   4.01 g/t gold,    580 g/t silver,  0.36% copper,  3.84% lead,   5.07% zinc

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:

  • 4.17m of   4.17 g/t gold,    63 g/t silver,  0.68% copper,  0.81% lead,   1.55% zinc

incl. 1.25m of   7.45 g/t gold,  102 g/t silver,  0.63% copper ,  1.12% lead,   1.87% zinc             

Hole# 518020: 

  • 16.95m of   6.21 g/t gold,   80 g/t silver,  0.52% copper,  1.76% lead,    4.50% zinc

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:

  •   1.33m of   1.33 g/t gold, 190 g/t silver,  0.09% copper,  0.48% lead,   0.80% zinc

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

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TOM WHEELWRIGHT | This Is Why Depreciation Is Like Magic

I think depreciation is like magic.

When done properly, it can take rental real estate with positive cash flow and turn it into a loss for tax purposes.

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It’s common to break out land and building in a rental property for depreciation purposes, but there are many more components to consider. These additional components may include appliances, parking structures, landscaping, furniture, fixtures, and much more. Most importantly, these additional components can be depreciated much faster than land and building.

The result is accelerated depreciation which means more depreciation can be taken sooner.

Keep this in mind: Accelerated depreciation is a long term strategy

The decision to accelerate depreciation should be part of a long term tax strategy. While the tax benefits can come immediately, there needs to be a focus on the future to truly maximize the benefits.

Accelerated depreciation often results in more gain when the property is sold.

On top of that, the depreciation taken may be recaptured when the property is sold which means a portion of the gain (the portion attributable to the depreciation) may be taxed at ordinary tax rates.

So how is any of this good news for accelerated depreciation?

Here’s how. The worst case scenario with accelerated depreciation is that the tax is deferred to a later year. You take the bigger deductions now, enjoy the tax savings now and then pay tax on it later in the form of more gain.

If you’ve heard me speak, then you probably know deferral is my least favorite type of tax planning, so you may be wondering why I think accelerated depreciation is so important in a tax strategy.

The reason is that deferral is the worst case outcome, and as far as tax planning goes, while deferral isn’t my favorite, it can still help minimize taxes. So even the worst case scenario is still good for tax planning.

But even better, there are other possible outcomes that can reduce or eliminate the future tax impact of accelerated depreciation.

A long term strategy is the solution to minimizing or eliminating the future tax impact of accelerated depreciation.

Here are a few examples:

Strategy #1

Not all depreciation recapture is taxed as ordinary income. Some depreciation recapture has a lower tax rate. This means you take the deduction at a higher rate and report the income at a lower rate – this results in permanent tax savings.

The key is making sure you are in the right tax brackets now and in the future.

Strategy #2

Another example is using like-kind exchanges in your long term tax strategy. With like-kind exchanges, it is possible to avoid depreciation recapture entirely.

Strategy #3

If your long term strategy is to hold the property and pass it to your heirs, then that can work to avoid depreciation recapture.

Strategy #4

A plan to regularly buy rental property can provide a steady source of accelerated depreciation and compensate for lower depreciation on properties entering the older stages of their depreciable lives.

While there can be many traps with accelerated depreciation, there are also many ways to plan around them with a long term strategy.

Dec 6-8, 2018

If you already have a trusted tax advisor…

..be sure to tell them about my FREE, 3 Day event just for CPAs, the CPA-Revolution Masterclass. Just forward this email, and click here to learn more about the event.

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Tom Wheelwright, CPA

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