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Base Metals Diamcor Mining Junior Mining

Diamcor Announces Continued Strong Tender and Sales Results For the Quarter Ended December 31, 2022

Diamcor Mining, Proven and Probable

KELOWNA, BC / ACCESSWIRE / December 8, 2022 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) announces today the results of its second and final tender and sale of rough diamonds recovered from the processing of quarry material from the Company’s Krone-Endora at Venetia Project (the “Project”) for the current quarter ended December 31, 2022. In the second and final tender and sale of its third fiscal quarter, the Company sold an additional 2,808.84 carats of rough diamonds generating gross revenues of USD $629,283.94, resulting in an average price of USD $224.04 per carat. This brings the total carats sold in the current quarter to 8,327.58, generating gross revenues of USD $2,054,248.33, resulting in an average price of USD $246.68 for the period. This represents a 121% increase compared to the total carats sold during the previous quarter ended September 30, 2022.

Highlights

  • Specials Category Diamonds. The results of the total tender and sale of rough diamonds for the current quarter included several larger gem quality rough diamonds in the Specials (+10.8 carats) category, with the largest individual diamond being 43.55 carats in size. The Company continues to recover these larger gem quality diamonds which is further confirmation of the potential for these types of rough diamonds to be recovered from the Project’s deposits.
  • Strong Initial Tender and Sale. The Company previously announced that in its initial tender and sale of rough diamonds for the current quarter ended December 31, 2022, a total of 5,518.74 carats were sold, generating gross revenues of USD $1,472,471.03, representing an average price of USD $266.81 per carat.
  • Strong Average Dollar Per Carat Continues. In the Company’s second and final tender and sale for the current quarter ended December 31, 2022, the Company sold an additional 2,808.84 carats, generating gross revenues of USD $629,283.94, representing an average price of USD $224.04 per carat.
  • Total Carats Sold Quarter over Quarter Increased by 121%. The combined total carats tendered and sold in the current quarter ending December 31, 2022, increased by 121% when compared to the 3,776.33 carats tendered and sold in the previous period ended September 30, 2022.
  • Balance of Rough Diamonds Recovered in Period. The Company has recovered and delivered approximately 1,025.35 carats of additional rough diamonds which were not tendered and sold in the two sales completed in the current quarter. These rough diamonds, along with additional rough diamonds recovered prior to December 31, 2022, will be recorded as stock on hand at the end of the current period, and are expected to be tendered in the Company’s next quarter.
  • Strong Revenues Continued in Current Quarter. The gross revenues from the two tenders and sales completed in the current quarter ending December 31, 2022, remained relatively consistent at USD $2,054,248.33 when compared with the previous period’s USD $2,099,951.32. The gross revenues generated in the current quarter were the result of the noted increase in total carats sold, as compared to the previous quarter where the Company sold fewer carats and the gross revenue was positively affected by the sale of a 59.35 carat gem quality special rough diamond.

“We are very pleased with the continued progress being made and our ability to achieve a 121% increase in the total carats sold quarter over quarter”, stated Mr. Dean Taylor, Diamcor CEO. “This increase in total carats tendered and sold during this quarter demonstrates the Company’s ability to generate significant revenues without the added benefit of any significant larger high-value rough diamonds, and the positive impact that achieving both of these scenarios could have for our Company moving forward. Our efforts remain focused on continuing to increase processing volumes and the recovery of larger high-valued rough diamonds moving forward.”

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) ofmaterial from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for very low-cost mining to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

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

SOURCE: Diamcor Mining Inc.



Categories
Junior Mining Lion One Metals Precious Metals

Lion One Discovers New Near-Surface Lode at Tuvatu and Intersects Ore-Grade Mineralization Associated with Near-Mine CSAMT Anomaly

Lion One Metals, Proven and Probable

North Vancouver, British Columbia–(Newsfile Corp. – December 8, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) provides results from near-mine exploration, identifying two new zones of significant mineralization within the footprint of the deposit. A new lode, named URA1 has been discovered during construction of the development decline; its location corresponds to Tuvatu’s near-surface and earliest scheduled production area: Zone 2. The lode has been further defined through underground channel sampling and subsequent diamond drilling. The URA1 lode will be included in the updated Mineral Resource Estimate (MRE) that the Company aims to release in early 2023. Additionally, several hundred meters to the east of Tuvatu, drillhole TUDDH-612 has intersected mineralization corresponding to a distinct CSAMT gradient anomaly. This release presents significant new results from two separate areas within the general Tuvatu deposit footprint (Figure 1).

Highlights URA1

  • Discovery of near-surface, high-grade URA1 lode from intersection with the development decline, defined through channel sampling (up to 29 g/t Au over 1m in MD-CH-002) and diamond drilling of holes TUDDH-617, 619, and 621 (up to 167.42g/t Au over 0.3m in TUDDH-617, and 27.99 g/t Au over 1.2m in TUDDH-621).
  • Provides increase in volume of mineralized material within the portion of the deposit scheduled for earliest production.
  • A general N-S orientation of the lode corresponds to other major lodes (e.g., URW1) and may indicate the presence of an additional series of undiscovered lodes further to the West of Tuvatu.
  • Underscores the substantial near-mine exploration upside.

Highlights TUDDH-612

  • New ore-grade mineralization of 18.53 g/t Au over 0.6m from 492m corresponding to a sharp CSAMT geophysical gradient anomaly.
  • May represent the possible strike extension of the UR4 lode at Tuvatu, that may also include the deep high-grade intercept in TUDDH-494 at >1100m depth.
  • Tuvatu itself is coincident with a CSAMT gradient of similar magnitude; the recurring correspondence of mineralization with such gradients provides strong validation for the viability of this method for discovery of additional mineralized centers in the caldera. Once completed, this data will provide robust drill targets and substantial projected upside for new discovery.

URA1 lode, Zone 2
During advancement of the 2022 development decline, approximately 75m from the portal entrance, a sharp, clearly defined quartz-sulfide lode was intersected striking NNE-SSW and dipping 84°SE (Figure 2a). This newly identified structure is defined through underground mapping and has control points in space from chip-channel sampling, (results: Table 1) and a three-hole DDH program (TUDDH-617, 619 and 621; Figure 2b) to test the extent of this new lode (results: Table 2). The lode is named URA1, and represents a completely new, previously unmapped structure occurring within the northwestern, near-surface portion of the Tuvatu deposit (Zone 2). The new occurrence discovered near-surface, in a portion of the Tuvatu orebody that is within the current resource estimation extents, illustrates the extraordinary upside potential of the Tuvatu orebody in general. Table 2 lists the interpreted lode for each of the mineralized intercepts in boreholes TUDDH-617, 619, and 621. It is notable that the high-grade intercepts near the bottom of hole TUDDH-617 between 140.1 and 144.6m remain undefined, potentially representing yet another new lode. Moreover, this illustrates the discovery potential of additional mineralization, especially toward the West Zone where relatively sparse drilling has been completed. Notably, this area is defined by historic drilling carried out at a N-S orientation, which would have limited the exposure of the drilling to mineralized lodes trending in the same orientation.

As the discovery and definition of new features continues to add upside, intersection with known lodes, like the Murau 8 lode, intersected with TUDDH-621 at 105.3m returning 4.8m at 30.75 g/t gold continues to provide confidence in the grade continuity of known lodes.

TUDDH-612 and CSAMT profile 6
As part of the Company’s ongoing near-mine exploration program, drillhole TUDDH-612 was completed to test the sharply defined CSAMT1 gradient anomaly on profile 6 (Figure 3). Drill hole TUDDH-612 intersected 18.53 g/t Au over 0.6m at 491.8m depth along the borehole.

As shown in Figure 1, this area is located several hundred meters from the current Tuvatu mineral resource outline. As such, the mineralization intersected at this location represents a new target zone of potential high-grade mineralization that warrants follow-up. Furthermore, the mineralized intercept in hole TUDDH-612 corresponds closely to the strike projection of the UR4 lode, along with the previously reported, deep intercept in TUDDH-494 of 12.2 g/t Au at a depth along the hole of 1106.3m (see April 8, 2022 news release). As such, these intercepts may indicate the extension of the UR4 lode toward the northeast and at depth, increasing LIO’s confidence that the mineralized structure has continuity over space for several hundred meters both to the east and at depth. This structure remains open along strike and up and down dip.

The mineralization observed (Figure 3) corresponds directly with a sharply defined CSAMT gradient anomaly, thus lending significant credence to the application of CSAMT for targeting new zones of potential mineralization. The infill CSAMT survey lines completed in 2022 to complement the previous 2019 survey, are currently in final phase of interpretation. The interpreted survey results will be the subject of a future release. It is expected that once finalized, the combined CSAMT geophysical data from previous and recent surveys will play a significant role in outlining new zones of mineralization near Tuvatu, as well as regionally throughout the Navilawa caldera. A third program of CSAMT geophysics will commence in 2023 and is expected to contribute to coverage of the Navilawa caldera within LIO’s most prospective areas of interest.

Table 1. Chip-channel results from sampling of the URA1 lode, development decline.

Channel IDFrom mTo mWidth mComposited Grade g/t AuCumulative g*m
MD-CH-0010.02.52.59.9424.86
MD-CH-0020.01.01.029.0229.02
MD-CH-0031.03.02.08.9117.83
MD-CH-0041.53.01.511.9317.89
MD-CH-0051.02.51.515.1722.75
MD-CH-0060.03.03.05.6216.87
MD-CH-0110.02.52.510.4626.15



Figure 1. Plan view of the Tuvatu deposit lodes (gray) showing the locations of the exploration and development declines (red), the new URA1 lode (blue) to the west, and TUDDH-612 borehole to the east. The dotted arrow indicates the possible strike extension of the UR4 lode.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2178/147248_0a2ed6f15443ca97_002full.jpg



Figure 2a. Photo of URA1 lode located along the northeast wall of the new development decline. The vein at this location is approximately 20 cm wide.

To view an enhanced version of Figure 2a, please visit:
https://images.newsfilecorp.com/files/2178/147248_lionfigure2.jpg



Figure 2b. Oblique view (looking NE) of the URA1 lode (blue) showing the locations of the exploration and development declines (red), and the follow-up boreholes TUDDH-617, 619, and 621.

To view an enhanced version of Figure 2b, please visit:
https://images.newsfilecorp.com/files/2178/147248_0a2ed6f15443ca97_004full.jpg



Figure 3. Oblique view showing the locations of borehole TUDDH-612 relative to the CSAMT profile 6, and the exploration and development declines. The location of the high-grade intercept in TUDDH-612 at 18.53 g/t Au is indicated by the red dot. Green dots represent values between 0.5 and 3.0 g/t Au.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/2178/147248_0a2ed6f15443ca97_005full.jpg

Table 2. Results from URA1 drilling. The interpreted lode for each intercept is indicated.

Hole IDFrom (m)To (m)Interval (m)Au g/tLode
TUDDH-61751.953.11.20.99Murau 4
56.158.22.11.76URA 1
including57.958.20.36.30URA 1
59.763.33.62.93URA 1
including59.760.00.317.01URA 1
81.982.80.91.20undefined
140.1141.00.956.22undefined
including140.7141.00.3167.42undefined
143.4144.61.219.27undefined
TUDDH-61929.332.63.31.82Murau 4
41.342.51.20.52undefined
47.648.81.22.79Murau 5
50.651.20.65.03Murau 5
including50.951.20.38.26Murau 5
52.452.70.30.66Murau 5
65.065.30.33.48URA 1
72.273.71.52.78Murau 7
including73.473.70.39.66Murau 7
148.1148.70.60.59Murau 12
TUDDH-62177.780.12.46.03Murau 6
including78.378.60.343.13Murau 6
81.383.42.12.68Murau 7
including82.883.40.65.26Murau 7
84.687.63.02.24Murau 7
including86.787.30.67.37Murau 7
105.3110.14.830.75Murau 8
including105.3105.90.654.31Murau 8
and105.9106.50.68.10Murau 8
and106.5107.40.956.17Murau 8
and107.4108.30.946.55Murau 8
and108.3108.60.311.39Murau 8
and108.6108.90.313.49Murau 8
and108.9110.11.28.56Murau 8
123.6124.20.62.62Murau 10
156.0157.21.20.81Murau 11
159.3160.51.227.99URA 1
168.0170.42.417.06Murau 12
including168.0169.21.28.62Murau 12
and169.2170.41.225.51Murau 12

Table 3. Survey details of diamond drill holes referenced in this release.

Hole NoCoordinates (Fiji map grid)RLfinal depthdipazimuth
NEmmDeg.(TN)
TUDDH-6123920929.11876512.6236.3905.8-60097
TUDDH-6173920800.61876257.3203.1149.9-60266
TUDDH-6193920801.21876257.7203.2161.1-60297
TUDDH-6213920799.91876257.7203.0200.7-69225

About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of Lion One Metals Limited
“Walter Berukoff“, Chairman and CEO

Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

1 CSAMT = Controlled Source Audio Magneto-Tellurics – a ground based geophysical technique that maps 3D electrical resistivity contrasts, inferred to be structural, lithological or hydrothermal-alteration related.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147248

Categories
Energy Junior Mining

Silver Bullet Mines Provides Update on Idaho and Arizona Mines

Silver Bullet Mines, Proven and Probable

Burlington, Ontario–(Newsfile Corp. – December 8, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on operations at its Washington Mine in Idaho and at its Buckeye Mine in Arizona.

In Arizona at the Buckeye, core drilled by a prior optionee at the Buckeye Mine in 2017 has been located and a chain of custody established. The core is being re-logged. There is no record of any of it having been tested for platinum group elements. It is intended that some of such core will be split and sent to an accredited third-party lab for testing, and the remainder will be stored after it is logged.



Historical third party core from 2017

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/147242_4d324f7fe489cace_001full.jpg



Historical core being split in December, 2022

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/147242_4d324f7fe489cace_002full.jpg

In Idaho, the entrance to the historical past-producing gold and silver mine has been screened and rock bolted. In management’s opinion the entrance to the historical mine is secure. Efforts continue to ensure the access area past the entrance is safe to enable the field team and contract miner to advance towards what is believed to be the mineralized zone. A mining engineer has created a mine plan and a ventilation plan which will be implemented once the area is secure. The Company believes it has the necessary equipment to proceed, including a recently acquired mucker. If timber is required, SBMI has the timber rights at surface at the Washington Mine and can harvest the timber as needed.

The mining plan at the Washington Mine is subject to evolution as new facts are encountered on surface, underground and in the supply chain. The current plan is to mine around the caved area, develop a raise in the mineralized material up to surface, and to work through the winter as possible. This requires SBMI to acquire an explosive licence, for which it is applying.

Winter weather in Idaho is an uncontrollable risk, but mitigated at the Washington Mine due to the mine’s proximity to a highway.

Readers should be cautioned that the Company’s decision to move forward with the construction of and production at the Washington Mine and the Buckeye Mine is not based on the results of any pre-feasibility study or feasibility study of mineral resources demonstrating economic or technical viability. The Company has undertaken exploration and development activities; and after taking into consideration various factors, including but not limited to: historical data, the exploration and development results to date, technical information developed internally, the availability of financing, and the starting costs as estimated internally by the Company’s management, the Company is of the view that the establishment of mineral reserves by way of a prefeasibility or feasibility study at this stage is not necessary and would be unduly costly, and that the most responsible utilization of the Company’s resources is to proceed with the development of the mines. Readers are cautioned that due to the lack of prefeasibility study or feasibility study, there is increased uncertainty and higher risk of economic and technical failure associated with the Company’s decision. In particular, there is additional risk that mineral grades may be lower than expected, and the risk that construction or continuing mining operations may be more difficult or more expensive than management expected. Production and economic variables may vary considerably, due to the absence of a detailed economic and technical analysis in accordance with National Instrument 43-101. Failure at the Washington or Buckeye Mine may materially adversely impact the Company’s overall ability to continue as a going concern.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other epidemic or pandemic; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; shareholder and regulatory approvals; licencing and permitting; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/147242

Categories
Base Metals Energy Precious Metals

Collective Mining Drills 298.6 Metres at 1.54 g/t Gold Equivalent and 102.20 metres at 3.38 g/t Gold Equivalent into the Main Breccia Discovery at Apollo

  • Drill hole APC-20 was drilled on the north-eastern side of the Main Breccia discovery at the Apollo target into an open area without any prior drilling and intersected a broad zone of mineralization with an abundance of gold-rich, carbonate base metal veins overprinting angular, gold-silver-copper bearing breccia. This intercept represents the highest-grade intersection over 100 metres drilled to date at Apollo with results as follows:
  • Drill hole APC-19 was drilled in the centre of the system in order to expand the vertical dimension in this location. The hole intercepted a broad and continuous zone of copper-silver-gold mineralization and includes a copper-rich subzone with results including:
  • Based on a newly revised model of the Main Breccia system, the Company has identified two high-grade subzones of mineralization and as a result, will be drill tested in 2023 and are outlined as follows:
  • Three rigs continue to drill at Apollo with holes APC-22 through APC-27 completed and holes APC-28 through APC-30 underway. Additional assay results are anticipated in the near term.

TORONTO, Dec. 7, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from three additional holes drilled at the Apollo target (“Apollo”) within the Company’s Guayabales project located in Caldas, Colombia.  The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia system. As part of its fully funded 23,000 metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

Executive Chairman, Ari Sussman stated: “Drilling into the Main Breccia system at the Apollo target continues to expand the total volume while delivering long and high-grade intercepts. The discovery of the two new high-grade subzones through detailed geological modelling is exciting as both the copper rich zone and the gold rich zone appear to be open for expansion in multiple directions. Additionally, we believe that the two subzones will coalesce within the system, thereby enhancing the potential for the discovery of even higher grades than we have discovered to date. These areas will be a key target for drilling in early 2023. Without question there is a lot more metal to be found at the Apollo target and we will remain aggressive in unlocking the potential of this remarkable discovery.”

To watch a short video of David Reading, Special Advisor to Collective Mining, speak about the assay results announced today, please click here

Details (See Table 1 and Figures 1–4)

Twenty-two diamond drill holes with accompanying assay results have now been announced at Apollo and a further nine holes are outstanding. Results of three drill holes are announced below:

Drill hole APC-20 was drilled south from pad 5 to a maximum depth of 445.4 metres and successfully expanded the eastern area of the Main Breccia system at depth. The hole intersected 102.2 metres of continuous gold-silver-copper mineralization beginning at 298.2 metres down hole and ending at 400.40 metres. The hole is characterized by mineralized angular porphyry related breccia with a matrix infill of pyrite, some chalcopyrite and carbonate which is overprinted by zones of sheeted carbonate base metal veins (“CBM”) and veinlets which are associated with disseminated sphalerite and carry higher gold grades. These higher grade CBM zones can now be traced and mapped in multiple drill holes and three have been identified with drilling to date; within the lower, upper and central portions of the main breccia body The following results are highlighted:

  • 102.20 metres @ 3.38 g/t AuEq consisting of 2.72 g/t Au, 28 g/t Ag, 0.08% Cu and includes a higher-grade zone of 33.60 metres @ 7.30 g/t AuEq.

Drill hole APC-19 was drilled in a southeast direction from pad 4 to a maximum depth of 582.3 metres. The hole intersected continuous copper-silver-gold mineralization from 199.20 metres (178m vertical) to 497.80 metres (470 metres vertical). The mineralized breccia contains a matrix of abundant chalcopyrite and some pyrite particularly from the beginning of the hole down to 323.50 metres which is associated with higher silver values and averaged 0.63% copper and 64 g/t silver over this interval. This newly identified shallow plunging high-grade copper zone has been intersected in six of the holes drilled to date and future drilling will target extensions of this zone within the main breccia body. Assay results for APC-19 are as follows:

  • 298.60 metres @ 1.54 g/t AuEq consisting of 0.48 g/t Au, 34 g/t Ag and 0.31% Cu and includes 124.30 metres 2.72 g/t AuEq consisting of 0.62 g/t Au, 64 g/t Ag and 0.63% Cu.

Hole APC-21 was drilled at a steep angle towards the north from pad 3 but unfortunately undercut the northerly dipping main breccia body.

With the recently announced assay results for APC-17 and previously announced visuals from APC-22, the potential total volume of rock hosting the Main Breccia discovery within it has approximately tripled in size with the dimensions now measuring 385 metres along strike by 350 metres width by 825 metres.  The discovery remains wide open for expansion and further step-out holes are currently being designed.

Three rigs continue to drill at Apollo with additional assay results from holes APC-22 through APC-30 anticipated in the near term.

The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metres X 700 metres area. The Apollo target area hosts the Company’s new Main Breccia discovery plus a vein system located above and on the eastern flank of the Main Breccia discovery and the Northern Breccia discovery located 250 metres to the north of the Main Breccia. Multiple additional untested breccia, porphyry and vein targets have been generated and will be drilled in due course. The overall Apollo target area also remains open for further expansion.

Table 1: Apollo Target Assays Results

Hole #From
(m)		To
 (m)		Intercept
(m)		Au
(g/t)		Ag
(g/t)		Cu
%		Mo
%		Zn
%		Pb
%		AuEq (g/t) *CuEq (%) *
APC-19199.20497.80298.600.48340.310.002––1.540.79
Incl.199.20323.50124.300.62640.630.002––2.721.39
APC-20**298.20400.40102.202.72280.080.0010.210.153.38–
Incl.324.25357.8533.606.30450.080.0010.420.337.30–
APC-21No Significant Values
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.96 x 0.95)+ (Mo (%)*7.35 x 0.95) and CuEq (%) is calculated as follows:  (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $22/oz Mo US$15.00/lb and Au – US$1,400/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** In APC-20, Zn and Pb were including for the AuEq calculation using metal prices of Zn – US$1.75/lb, Pb – $0.95/lb and recovery rates of 95%.
*** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC19 & APC-20 and the Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC19 & APC-20 and the Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-19 (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-19 (CNW Group/Collective Mining Ltd.)
Figure 4: Apollo Target: Core Photo Highlights from APC-20 (CNW Group/Collective Mining Ltd.)
Figure 4: Apollo Target: Core Photo Highlights from APC-20 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

FORWARD-LOOKING STATEMENTS  

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.   

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

SOURCE Collective Mining Ltd.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/December2022/07/c3277.html

Categories
Energy Junior Mining Precious Metals

Silver Bullet Mines Closes Final Tranche of Financing

Burlington, Ontario–(Newsfile Corp. – December 6, 2022) – On October 21, 2022 Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announced a financing of Units (the “Financing”), whereby each Unit consisted of one common share and one common share purchase warrant. Each Unit is priced at $0.20 (twenty cents). Each common share purchase warrant has a 2-year term and is exercisable at $0.30 (thirty cents).

SBMI announces it has closed on the final tranche of the Financing, being $360,912. This represents 1,804,560 common shares and 1,804,560 common share purchase warrants. This together with the first tranche totals $807,912, an oversubscription from the announced target of $600,000. No insiders participated and there here are no finder fees payable on this tranche.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146944

Categories
Base Metals Energy Junior Mining

EV battery cathode costs spike as lithium price sets fresh record

Casper Rawles at BenchmarkWeek in Los Angeles. Image: Benchmark Mineral Intelligence.

Prices for graphite in the battery supply chain have not moved much this year, kept down by softness in the global steel industry. 

The often overlooked anode material may be on the brink of a breakthrough, however. Benchmark Mineral Intelligence at its BenchmarkWeek annual industry gathering in Los Angeles predicted that EVs will become the main source of demand for graphite next year. 

For lithium that change happened in 2018, which, for one, shows just to what extent the EV industry is still in its infancy, and two, just what an impact the additional demand from EVs will have on raw material prices.   

Benchmark Source, a new service from the London-HQed battery supply chain research firm, reports that lithium prices in China touched a fresh record high mid-November, just shy of $80,000 a tonne.

Prices of Chinese battery grade lithium hydroxide, which is used in high nickel cathodes, are up 150% year-to-date. Lithium carbonate prices have followed a similar trajectory. While well below their Q1/Q2 highs, nickel and cobalt sulphate prices have also regained some ground since hitting 2022 lows in Q3. 

Cathode cost climb 

Lithium iron phosphate (LFP) batteries have lost some of their cost competitiveness to ternary cathodes using the dominant nickel-cobalt-manganese (NCM) chemistries due to the rise in the price of lithium. 

According to Benchmark’s Cathode Price Assessment, high nickel content NCM 811 (8 parts nickel and one each cobalt and manganese) cathodes could be had for $78.64 per kWh on the spot market in October this year. That’s up nearly 18% year to date and a doubling since January 2021.

For LFP, which is close to hitting $50 per kWh today, was only priced at $12.79/kWh in January 2021, which means LFP cathodes are up 288% in less than two years. 

Driven by advances in battery packs to overcome some of the drawbacks of the chemistry in terms of energy intensity, LFP’s overall cathode market share has climbed from 23% in 2017 to nearly 42% this year, according to Benchmark data.

Cathode CAGR tops 40% 

Caspar Rawles, Benchmark’s Chief Data Officer, told the conference audience that global cathode production has increased at an annual compound rate of 42% since 2017 and is forecast to top 2 million tonnes this year. 

Source: Benchmark Mineral Intelligence.

Even that astonishing growth has not been enough to satisfy rampant demand growth from electric cars. Rawles said EV battery demand has really accelerated since 2020 as incentives and regulations in China, Europe and the US caused a step change in auto sales and battery manufacturing capacity. 

Global EV demand measured in kWh expanded some 23% in the four years through 2020, but in the past two years the compound growth rate has climbed to just under $45%. 

IRA

China’s dominance in cathode manufacture is only slowly being chipped away despite the steady stream of announcements of billion dollar battery factory projects in Europe and North America. 

China controls 78% of global output of cathodes (the figure for anodes is 91%) and 70% of the world’s cell production.  

Source: Benchmark Mineral Intelligence.

Rawles says there are various efforts in the West to decouple from China, including Canada ordering China to divest from the country’s lithium industry, $2.8 billion in grants and many times that in loans from the US Dept of Energy,  critical mineral grants under the Defense Production Act, $60 billion in cumulative Environmental Justice Initiatives and $6 billion in credits for up to 30% of manufacturing projects capital expenditure under the Inflation Reduction Act. 

Rawles said the IRA that “shake[s] up the industry” and the US and global EV supply chain, and in particular draws attention to Section 45X  – Advanced Manufacturing Production Tax Credit, which makes available around $30 billion in tax credits: 

“While there is still some information to come out [regarding detailed provisions in the IRA] as a refiner, if you source your materials in the US and you process them to battery grade you’re eligible for 10% of your operating costs.

“But there is no sunset clause on that so theoretically, until the law changes, you can get ten percent of your opex for your lithium refinery for example in perpetuity.”

America first 

The IRA has already provided a big boost to the development of the US battery supply chain, with the US overtaking Europe in the second half of this year in terms of announced new battery capacity. The US battery pipeline is nearing 1 terawatt hours, according to Benchmark.

LG Chem’s recent decision to build a $3.2 billion battery cathode facility in Tennessee alone could more than double North American cathode production when it goes into production in 2027.  

Benchmark calculates the plant could supply 18% of North America’s 2030 cathode demand if it operated at its full announced capacity of 120,000 tonnes a year.

Original Source: EV battery cathode costs spike as lithium price sets fresh record – MINING.COM

Categories
Base Metals Junior Mining Precious Metals

Rover Metals Provides Corporate Update, Including Analyst Report

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide a corporate update to shareholders and to share its most recent analyst report from Fundamental Research.

Corporate Update
Click here for a pre-recorded corporate update between Judson Culter, CEO at Rover, and U.S. stock-commodity TV journalist personality, Maurice Jackson, of Proven and Probable.

Analyst Report
Fundamental Research Corp. (“FRC”) has published their updated analyst report on Rover, including a positive rating, dated December 1, 2022. The report can be accessed here.

FRC is one of the largest issuer-paid independent stock market research firms in the world, with a 19-year track record of covering 650+ companies. As of November 28, 2022, FRC’s top picks were up 41% on average since the initiation of coverage*. FRC provides fee-based coverage. Their analysts are sought after by the media and at conferences to give their opinions on the market, current topics of interest such as the direction of commodity prices, and top stock picks.

*Past performance is not indicative of future performance.

Judson Culter, CEO at Rover Metals, states “we are developing a lithium mining project in Nevada that has the potential to help fill-in the major supply shortage coming for lithium beginning in H2-2026*. Development of critical mineral projects here in North America is a matter of national security. Mining stocks and the mining sector need to get a second look from domestic investors right now given the global geopolitical climate we’re living in. We welcome due diligence calls on our mining resource development projects. Companies like Rover are subject to naked-short selling and potential malicious trading practises that can be orchestrated by hostile foreign regimes. Rover relies on the support of domestic investors to help sustain uninterrupted development of its resource projects. China’s battery companies are targeting Europe and are forecasted to account for approximately 30% of Europe’s battery production by 2030*.”

*Source: Benchmark Mineral Intelligence, U.K.

New Office Phone Number
Our main office number has recently changed to +1-778-754-2855.

U.S. Trading Ticker
The Company now trades under the ticker ROVMF on the OTCQB.

About Rover Metals
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go Lithium project.

The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of Canada and the U.S.

You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Subscribe to our Newsletter on our Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2855

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

Categories
Base Metals Precious Metals

The Difference Between Signal and Noise

Dec 3, 2022

I have no idea of how many people write professionally about investing in resource stocks and the metals. I am well aware that there are tens of thousands of punters expressing their opinions on the various chat boards. Most of them are idiots. But then many of the professional writers are idiots, too, trying to feed people’s fantasies. That’s what you get from TV preachers and all politicians (with perhaps the exception of Alberta’s Premier and Pierre Poilievre)

I write books about investing and then I pretty much give them away. You can pick up Nobody Knows Anything and Basic Investing in Resource Stocks for $.99 in the electronic version. If you can’t afford the $.99 you probably are wasting my time and yours because you are too stupid to understand simple concepts. So I will go over it one more time.

There is signal and there is noise.

GATA, conspiracies, gold and silver manipulation, Bill Murphy, Ted Butler and all of the cliptocurrencies are noise. Nothing they say will ever put a penny in your pocket unless it is by accident. There is no time in history where any of them issued both an accurate buy signal and a sell signal that was based on either facts or logic. You can howl at the moon all you wish about how Crimex is stealing but all you are doing is whining.

You can’t make money from noise. Saying that gold and silver are manipulated is akin to saying the sun rises in the east. All financial markets are manipulated and always will be.

Signal on the other hand is based on both facts and logic. If you will bother learning the basics and have any ability to think for yourself you can make a lot of money from the chumps whining about Bitcon and Crimex. I go into it in detail in my two investment books and if you haven’t read them, it means you are the chump that my readers and I will profit by your stupidity.

I did an interview on September 1st and talked about silver. Silver touched $17.56 as the low.

(Click on images to enlarge)

Fast-forward three months and now we had silver at $21.66 on November 24th where it touched a high of $21.66. Between September 1st and November 24th silver climbed 23%. That’s a great move and silver is even higher today but I wanted to show the November 24th price for a reason that I will get into.

I said a month before silver and gold hit their lows that it was coming. I nailed the bottom in silver; gold drifted lower for another four weeks but clearly bottomed on September 28th. For three months I have been trying to convince my readers that low prices are an opportunity. How much simpler can it get?

Stocks go up and down.

When they are cheap you should buy and when they are dear you should sell. It’s in the frigging books. The only people I know who make money on a consistent basis are contrarians. All you have to do is determine what the mob is doing and do the opposite. It is so simple most people can’t come to grips with the concept. Measure the sentiment. When everyone is bullish, you should sell. When everyone is bearish, you should buy. Low prices are not a problem, they are an opportunity.

My favorite sentiment indicator is the DSI that happens to be on sale until December 15th. As valuable as it is, there are other sentiment indicators that may provide other information. I like the $BPGDM chart of the Gold Miners Bullish Percentage Index. It gave a clear signal of a bottom at the end of September just in time to nail the low in gold.

Another signal that I observe but rarely see a clear and convincing signal is the Premium/Discount chart of the Sprott Physical Silver Trust. I used that chart in 2011 to pick the top in silver to the day and when I looked at it recently I saw something very exciting. If you look at the two-year chart it seems that just recently the PSLV is selling at the biggest discount in over two years. In other words the traders in PSLV were highly bearish.

On November 25th the PSLV was selling at the biggest discount, 5.12% since the crash of 2020. Do you remember what silver did after that signal in March of 2020 during the Covid fiasco crash? It went from well under $12 an ounce to almost $30 in the next eleven months. That’s a 150% gain in silver. You almost never see those kinds of moves in the metals. The PSLV is giving a similar signal today but from $17.56.

The low point on that chart is November 25th.

There are few people I track the predictions of mainly because I don’t want to confuse myself. But one of the people I have a ton of time for is Tom McClellan of The McClellan Report. Here is part of what he said just yesterday.

December 01, 2022

Gold prices have moved up by almost $200 off of the October lows. Ordinarily that would bring a response by investors to start buying into GLD and IAU, the big gold bullion ETFs. But they are not doing that (yet), and that is really interesting.

The normal behavior by investors is to buy into these ETFs when gold is rising, and sell out of them when gold prices fall. Extremes of either buying or selling can be useful indications of a sentiment extreme, worthy of a top or bottom for prices. That is how things normally work.
. . .

Given the big jump in gold prices since October, we should expect that public sentiment toward gold should be turning more bullish, but it is not. Investors are still avoiding these ETFs, which means that their bearishness is more firmly rooted. That is actually bullish for gold prices, because to get a top for gold prices we would expect to see investors clamoring to get into gold. They are not at that point yet, which conveys the message that gold is going to have to trend higher for a lot longer to get sentiment to change.

I did find it exceptionally interesting that one of the smartest people I know has come to exactly the same conclusion I have. If you would like to fund your retirement you can do that in the near future. You merely need to learn to think for yourself and understand how contrarian investing works. Figure out what the mob is up to and do the opposite. It’s that easy.

Categories
Base Metals Junior Mining Uncategorized

Ari Sussman from Collective Mining to Present at OTC Markets Group Metals & Mining Virtual Investor Conference on December 8th, 2022

TORONTO, Dec. 1, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) will be presenting at the OTC Markets Group, Metals & Mining Virtual Investor Conference on Thursday, December 8, 2022, at 2:00pm ET.

Using the link below, investors can register and listen to the presentation, and take part in a question and answer session at the end. The presentation is expected to last 30 minutes.

DATE: Thursday, December 8, 2022
TIME: 2:00pm ET – 2:30pm ET
LINK: https://bit.ly/3E1tR5k

Please log in 5 minutes early in order to register. An archived webcast will also be made available after the event.

Ari Sussman, Executive Chairman of Collective Mining will be providing an overview and will discuss the Company’s “Main Breccia” discovery at the Apollo target. The Main Breccia discovery is a high-grade and bulk tonnage copper-silver-gold porphyry-related breccia system characterized by two main yet distinct pulses of mineralized fluids flooding the breccia with metals.

The Company’s Guayabales project is located in the mining-friendly department of Caldas, Colombia, in the heart of a long-established mining camp with ten fully permitted and operating mines located within three kilometres of the project. As a result, the Guayabales project is blessed with excellent infrastructure with roads and hydroelectric powerlines traversing the project and an abundant labour force located nearby in the townships of Supia and Marmato.

Three rigs continue to drill at Apollo with holes APC-19 through APC-26 completed and holes APC-27 through APC-29 underway. Additional assay results are anticipated in the near term.

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own approximately 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

SOURCE Collective Mining Ltd.

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/December2022/01/c2937.html

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Receives US$2,500,000 in Cash and Retains 2% NSR Royalty for the Sale of the Tajitos Gold Project to Fresnillo PLC

Vancouver, British Columbia–(Newsfile Corp. – November 30, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report it has signed a definitive sale and royalty agreement with Minera Fresnillo, S.A. de C.V. (“Fresnillo”) a wholly owned subsidiary of Fresnillo PLC for the sale of Riverside’s Tajitos Gold Project (“Tajitos”) located in Sonora, Mexico. Riverside will receive a US$2,500,000 cash payment and retain a 2.0% NSR (“Royalty”).

The Tajitos Gold Project is located less than 30 kilometers from Fresnillo’s Noche Buena mining operations. Riverside’s Tajitos Gold Project includes the Tejo and Tajitos mineral concessions covering 45 km² of prospective ground next to Fresnillo’s property (also named Tajitos).

Riverside’s President and CEO, John-Mark Staude, stated: “This transaction adds another quality NSR to our growing royalty portfolio and brings our cash position to more than C$8,000,000, which puts us in a great position to grow our business during 2023-2024. We are pleased to deliver another deal with a high caliber international mining company, which is a testament to the quality of projects our team has generated and Riverside maintains in our property portfolio.”

Transaction Details:

Riverside will receive a payment of US$2,500,000 from Fresnillo and retain a 2.0% NSR. Fresnillo will have, for a four-year term, the option to buy back half of the 2.0% NSR for a payment of US$1.5M. If enacted, then Fresnillo would have an additional three years to buy back the remining 1% NSR for another US$1.5M. If Fresnillo does not exercise its first buy back option during the first four-year term, the Royalty will no longer be subject to any buy back provisions. The NSR covers the entire Riverside land package and a full NSR Agreement has been agreed upon and included in the signed contract between the companies. If Fresnillo wishes to reduce mineral claims, then the Company has the first right to retain those mineral tenures before they are dropped.

Riverside remains focused on its 100% owned projects, within its portfolio in Canada and Mexico, and its alliance with BHP. The Company is also always working towards potential incoming additional alliances and partnerships.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $8M in cash, no debt and less than 80M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Mehran@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/146185