Categories
Base Metals Junior Mining Precious Metals Uncategorized

Your Crystal Ball for 2023

No one, has a crystal ball when it comes to the future. But, we wanted to share how you may want to position ourself for the future.

#1 PURCHASE PHYISCAL PRECIOUS METALS

  • Why: As a Savings/Financial Insurance/Protection from Government Stupidity.
  • Where to Buy: Maurice Jackson: https://www.milesfranklin.com/faq-maurice/
  • Frequency: Every 2 Weeks.
  • Percentage of Portfolio: Minimum 10%, but we hold approximately 35% in our portfolio.
Economics in One Lesson, Proven and Probable

GREAT FOUNDATIONAL READINGS:

  • Methodology: Using the Ratio’s.
  • Dow:Gold Ratio is indicating that Gold is on sale relative to the Dow. When the ratio is between 4-5, it is more favorable to be in general equities and real estate. At present the ratio is 1 share of the Dow = 18 oz of Gold.
  • Looking further, Silver and Platinum are on sale relative to Gold.
  • Gold:Silver Ratio At present 1 oz of Gold = 76.5 oz of Silver. When the ratio is between 45-54 trade your Silver in for Gold. Note: Silver Eagles have demanded a significant premium the past 8 months. Which actually reduced the Gold:Silver Ratio inside the 45-54 range.
  • Platinum:Gold Ratio: At present .59 oz of Platinum is = 1 oz of Gold. When the ratio is equal to and or greater than 1, trade your Platinum in for Gold.
  • A great resource on the power of Ratio’s and when to buy and sell is: Bob Moriarty’s: Nobody Knows Anything (Must Read)!
Nobody Knows Anything, Proven and Probable

#2 ROYALTY AND PROJECT GENERATORS

  • Royalty and Project Generators use a unique business model relative to their mining industry peers.
  • Why: They tend to outperform mining exploration companies accretively (Highlighted Below):

ROYALTY COMPANIES: https://www.visualcapitalist.com/sp/how-precious-metals-royalty-and-streaming-companies-create-value

PROJECT GENERATORS: https://www.visualcapitalist.com/project-generators-exploration-risk-lower-cost/

#3 JUNIOR MINING/EXPLORATION COMPANIES

  • These companies are most speculative and offer tremendous upside and conversely a lot of downside. We are biased and are active buyers of our partner/advertisers found (Here). For a deeper dive into the mining/exploration industry: (Must Reads):
  • What Became of the Crow by Bob Moriarty
  • Mineral Exploration and Mining Essentials by Robert Stevens
Mineral Exploration and Mining, Proven and Probable

EXPLORATION COMPANIES: https://www.visualcapitalist.com/mineral-exploration-roadmap/

#4 HOLD YOURSELF ACCOUNTABLE

  • Commit your future to paper. Not having a plan, is a plan. A foolish one, but is a plan. If you don’t have a plan for your savings and investments someone else does. SCHEDULE YOUR PATH.
  • Be willing to study each of the aforementioned. Don’t believe the hype! Don’t get mislead by fancy thumbnails, price predictions, and narratives on manipulation. Is there manipulation? Yes, in every market! Don’t complain about manipulation, learn to leverage manipulation in your favor by realizing you are being offered a discounted price!
  • Be pragmatic, and be patient. Your competition is never patient. They want to price to rise on their schedule, which was yesterday. They will be your best friends, because they have have fast hands and love to sell at the wrong time. If the price goes down, and nothing fundamental has changed with management, the project/s, and or results, there is your buying opportunity!!!
  • Very few investors/speculators are in this space, you don’t have much competition. The best way to beat your competition in this space, is not to follow the herd. Remember, no one get’s it right all the time, you just need to be better than your competition.
Categories
Base Metals Breaking Energy Junior Mining Nevada Copper

Copper Is Heading For New Highs- A Bullish Trend In Nevada Copper (NEVDF)

  • Copper corrected from the May record high and made higher lows
  • Four reasons the copper bull will take the price to new highs
  • Impressive price action in the face of Chinese selling
  • Nevada Copper- Three reasons why NEVDF is could outperform percentage gains in the nonferrous metal
  • Bull markets rarely move in straight lines- The next leg for the copper bull has begun

When Goldman Sachs called copper “the new oil” in April 2021, the price was on its way to a new record high at nearly $4.90 on the nearby COMEX futures contract. The world’s most active and liquid copper market on the London Metals Exchange reached a peak at over $10,700 per ton in May. Copper blew through the 2011 $4.6495 previous all-time peak as a hot knife goes through butter.

Even the most aggressive bull markets rarely move in straight lines. Corrections can be brutal when prices accelerate on the upside, reaching unsustainable short-term peaks.

Copper ran out of upside steam before touching the $4.90 per pound level on futures and $10,750 per ton level on LME forwards. The price fell just below the $4 level in August, three months after reaching the high. Copper was still “the new oil” when the price dropped, and the world’s leading copper consumer was hoping it would continue to fall. China has done everything to push copper’s price lower, but the red metal has exhibited remarkable resilience.

Meanwhile, Nevada Copper Corporation (NEVDF) has been working day and night to ramp up production and transform its balance sheet. The market has rewarded the company as the share price has been steadily increasing since the beginning of October.

Mining companies provide investors with leveraged exposure to a commodity as they tend to outperform the price action on the upside and underperform during corrections. Junior mining companies can magnify the leverage. Copper’s recent explosive move suggests that new highs are on the horizon. NEVDF has the potential to do even better on a percentage basis as the company ramps up its production of the red industrial metal.  

Copper corrected from the May record high and made higher lows Copper futures ran out of steam at just below the $4.90 level, with the LME forwards moving the $10,747.50 per ton level for the first time. The May highs led to a substantial correction that briefly took COMEX futures below $4 per pound in August.

Source: CQG The chart shows the decline from $4.8985 in May to a low of $3.9615 in mid-August, a 19.1% correction. COMEX futures made higher lows of $4.0220, $4.0545, and $4.1140 in late September and early October before blasting off on the upside to over the $4.70 level as of October 15.

Source: Barchart

The chart illustrates the decline from $10,747.50 on May 10 to a low of $ 8,740 per ton on August 19 as copper forwards corrected by 18.7%. Copper then made higher lows at $8,810 on September 21 and $8,876.50 on October 1 before exploding higher to the $10,281 level on October 15.

Four reasons the copper bull will take the price to new highs

The four leading factors supporting a continuation of new and higher highs in the copper market are:

  • Rising inflation– CPI rose by 5.4% in September, once again exceeding expectations. While the Fed will likely begin tapering quantitative easing, tapering is not tightening. Moreover, fiscal stimulus continues as the multi-trillion budget will pump more inflationary stimulus into the economy.
  • Building demand– The infrastructure rebuilding package in the US will increase copper requirements for construction projects to rebuild the crumbling roads, bridges, tunnels, airports, schools, and government buildings over the coming years. Moreover, China’s copper requirements will continue to increase as the world’s most populous country builds infrastructure.
  • Decarbonization– Addressing climate change boosts copper demand. As Goldman Sachs said in April, decarbonization does not occur without copper, making the metal “the new oil.” Copper requirements for EVs, wind turbines, and other clean energy projects is a multi-decade affair for the red metal.
  • Supply shortages– Copper mining companies are scrambling to find new supply sources. Production can’t keep pace with demand- It takes eight to ten years to bring new copper mining projects on stream. BHP, a leading global mining company, is in talks with Ivanhoe Mines for participation in the Western Foreland exploration area in the politically dicey Democratic Republic of the Congo.  

Bull markets tend to experience severe selloffs. China has attempted to cool off the bullish copper and other nonferrous metals markets. The world’s leading copper consumer has the most to lose from runaway prices on the upside.

Impressive price action in the face of Chinese selling

On September 1, China auctioned 150,000 tons of copper, aluminum, and zinc from strategic stockpiles, which was the third auction sale since early July, attempting to temper the market’s bullish price action. The market had expected the sales. Copper rallied to the highest level since early August on September 13, with many other base metals following the red metal higher. The price then retreated, but copper made a higher low on September 21. The Chinese auction to cool off the rally put 80,000 tons of copper, 210,00 tons of aluminum, and 130,000 tons of zinc into the market since early July. Since the day of the first auction, copper, aluminum, and zinc prices all posted gains. Imagine where prices might be if China did not sell from its strategic stocks.

In early October, China auctioned the fourth round of base metals, lifting the total sales to 570,000 metric tons. Copper and all the base metals posted explosive gains after the latest auction. China is selling copper, aluminum, and zinc from its strategic stockpiles. The attempt to stem price appreciation makes the Chinese a buyer of the metals on price weakness to replace its stocks. However, the auctions have not had the desired impact on price. The price action has been more than impressive in the face of the sales.

While BHP looks towards the DRC and other regions for new copper supplies, Nevada Copper is making significant headway on its production project in a highly stable political and economic environment in the United States. Moreover, Nevada is a state that continues to encourage mining activity and is rich in red metal reserves.

Nevada Copper- Three reasons why NEVDF has the potential to outperform percentage gains in the nonferrous metal

Nevada Copper (NEVDF) has made great strides over the past weeks and months. A successful junior mining company is positioned best to profit during a bull market in the commodity it extracts from the earth’s crust. Three factors support the price of NEVDF shares as copper has taken off on the upside again:

Factor one: Turing the corner on operations in Q3- On October 6, NEVDF provided an update on operational performance at the company’s underground mine at its Pumpkin Hollow project, noting:

  • Copper in concentrate produced during September increased by 265% compared to August, driven by higher stope production. Approximately 30,386 tons of ore processing yielded 682 tons of copper concentrate at an average grade of 22%, reflecting 150 tons of copper output.
  • Stoping is the process of extracting the desired ore or mineral from an underground mine, leaving open space called a stope. Stoping at Pumpkin Hollow significantly accelerated since mid-August, with the second and third stope panels fully mined and a fourth stope panel currently being mined. Further stopes are planned for October and November, and the high-grade Sugar Cube zone to be mined during the final months of 2021.
  • NEVDF experienced the highest monthly development footage achieved since April 2021 in September, with a 12% increase over August. Approximately 750 lateral equivalent feet were advanced in September.

Outgoing Interim CEO Mike Brown said, “I am very pleased to see the improved trajectory in our production ramp-up and a recovery in productivities. The increased ore production was a key objective for September, and together with the improving productivities on-site, along with the ongoing management strengthening, provide further confidence in the mine ramp-up.”

Randy Buffington, a veteran mining executive with previous management experience at Barrick, Placer Dome, and Cominco, is taking over as President and CEO at Nevada Copper.

Factor two: On October 12, NEVDF announced it had agreed with its senior project lender and concluded a non-binding term sheet with its largest shareholder to provide additional financing and a significant deferral and extension of its debt facilities. The move offers Nevada Copper greater balance sheet flexibility and support for the ramp-up of its underground mining operations and advancement of its open-pit project and broader property exploration targets. The highlights of the more flexible financing arrangement include:

  • Two-year deferral of first loan repayments scheduled to begin in July 2025.
  • Extension of loan amortization with the final maturity pushed to July 2029.
  • Deferral of the formal long stop date for the project as the completion test was deferred to June 2023.
  • All outstanding shareholder loans were consolidated under an amended existing shareholder credit facility.
  • A two-year extension to maturity data until 2026 with no scheduled payments before final maturity.
  • An increase of $41 million in additional liquidity under the amended credit facility.

Randy Buffington, NEVDF’s new CEO, said, “These combined balance sheet improvements provide significant additional runway for the Company as we move forward to complete the ramp-up of our underground operations. The ongoing support of two of our major stakeholders provides further validation of the significant inherent value of our copper operations in Nevada and allows us to continue to pursue the growth potential embedded within our asset base.”

Factor three: NEVDF’s value proposition is compelling when compared to peers. The chart shows NEVDF’s market cap versus its enterprise value compared to other diversified metals and mining companies with similar market caps:

Source: Seeking Alpha

As the chart highlights, the enterprise value is over 2.2 times the current $173.53 million market cap, leading to plenty of upside room for NEVDF shares. There is plenty of room for growth as the enterprise value will rise with output from the underground and open-pit mining operations over the coming months and years. According to data from Seeking Alpha, at 97 cents per share on October 15, NEVDF had a $173.53 million market cap. The average daily volume in the past 15 trading days from all exchanges stood at just over 2,500,000 shares.

Source: Barchart

The chart shows the rise from 38.78 cents on October 1 to a high of 99.2 cents per share on October 14. NEVDF shares closed not far from the high at 96.56 cents on Friday, October 15.

The trend in copper and NEVDF is bullish, and the trend is always your best friend in markets.

Bull markets rarely move in straight lines- The next leg for the copper bull has begun

Bull markets can be bucking broncos as corrections are often downdrafts in prices. Copper’s decline from nearly $4.90 to below $4 and recovery to over $4.70 on October 15 is a bullish sign for the red metal.

Copper’s strength, along with the other base metals in the face of Chinese stockpiling selling, has been more than impressive and is a testament to the bullish factors that are likely to push the price higher. Goldman Sachs expects LME copper forwards to reach the $15,000 per ton level by 2025, putting COMEX futures over $6.80 per pound. Other analysts see the price rising to as high as $20,000 per ton as decarbonization will keep demand outpacing supplies.

Bull markets often take prices far higher than analysts believe possible before they peak. As the world searches for more copper to meet the rising demand, Nevada Copper’s mines are in the most economically and politically stable region of the world. NEVDF shares may have just begun to rally as the price threatens to move over the $1 per share level.

Categories
Base Metals Blog Energy Junior Mining Top Bar

HOT CHILI | Releases Maiden Cortadera Resource Adds 451Mt grading 0.46%CuEq*


Mineral Resource


Corporate Presentation

 

Hot Chili Drilling

Building a copper super hub in Chile – ASX: HCH

Hot Chili is one of the top ASX listed copper developers with a Leading Global Copper Project with 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum – Costa Fuego

Hot Chili Limited (ASX.: HCH) ACN 130 955 725
First Floor, 768 Canning Highway, Applecross, Western Australia 6153
PO Box 1725, Applecross, Western Australia 6953
P: +61 8 9315 9009 F: +61 8 9315 5004
www.hotchili.net.au

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Top Bar

Find Out Why Rio Tinto just entered into a $45,000,000 Earn-in Agreement with this Explorer

Calibre Mining (TSX: CXB | OTC: CXBMF)


Transcript

In this exclusive interview, Ryan King the VP for Corporate Development and Investor Relations for Calibre Mining shares the value proposition the company presents to the Market. Calibre Mining is a multi-asset gold producer focused on execution and building sustainable value for our shareholders, communities we operate in, and all stakeholders. The company has completed a series of successive accretive transactions for their shareholders which we will address throughout the interview.
First, we will discuss the $45 Million Dollar Earn-In Agreement with Rio Tinto on Calibre’s Borosi Projects which host both gold-silver and copper-gold resources in two areas as well as multiple lesser explored copper-gold skarns, low-sulphidation epithermal gold-silver vein systems and bulk tonnage copper-gold porphyry targets. Second, we will discuss B2Gold And Calibre Mining joininig forces in Nicaragua on the El Limon and La Libertad Gold Mines in addition to completed a CDN$100 Million Equity Financing. Finally, we discuss the expansive, ambitious 40,000 Metre diamond core drilling exploration program that Calibre will be embarking upon on the aforementioned El Limon and La Libertad gold mines. Discover why the value proposition of Calibre Mining is extremely compelling!


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Precious Metals Top Bar

Silver Canadian Maple Leaf Special


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Miles Franklin801 Twelve Oaks Center DriveSuite 834Wayzata, MN 553911-800-822-8080www.milesfranklin.com

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Junior Mining

Ethos Gold Corp. Announces Amended Terms & Increases Size of Flow-Through Financing to Raise $1.5 Million

Ethos Gold

(TSX.V: ECC | OTXQX: ETHOF)

*FOR ACCREDITED INVESTORS ONLY*

Vancouver, British Columbia–(Newsfile Corp. – October 28, 2019) – Ethos Gold Corp. (TSXV:ECC) (“Ethos” or the “Company“) announces that it has revised the terms and size of the non-brokered private placement announced September 20, 2019. Ethos is now proceeding with a flow-through offering to raise gross proceeds of up to $1,512,000 by the issuance of up to 5,600,000 units (each a “FT Unit”) at a price of $0.27 per FT Unit (the “FT Offering”). Each FT Unit will comprise one flow-through common share (a “FT Share”) and one half of one non flow-through common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable at a price of $0.30 into one common share for a period of two years from the date of issuance. The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

For more details click below. If you are qualified and want to participate please reference Proven & Probable and contact the following:

Sherman Dahl

Tel. 250.558.3340

dahl.sherman@pretiumgroup.ca 

Tom Martin
Corporate Communications
Tel: 1-250-516-2455
Email: tmartin@ethosgold.com


Finance Details


Categories
Base Metals Energy Exclusive Interviews Junior Mining

NEVADA COPPER Company on Target to U.S. Copper Production by Q4 2019

Matt Gili the CEO, President, and Director of Nevada Copper (TSX: NCU | OTC: NEVDF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Nevada Copper, which is on target for U.S. production in Q4 2019. Mr. Gili, provides updates on the flagship Pumpkin Hollow Project, which hosts both an underground and open-pit deposits. We provide an overview on the supply an demand fundamentals on Copper, where a prudent speculator may position themselves to take advantage of the copper supply deficit.

VIDEO

AUDIO

TRANSCRIPT

Source: Maurice Jackson for Streetwise Reports  (3/18/19)

Maurice JacksonMatt Gili, CEO of Nevada Copper, talks with Maurice Jackson of Proven and Probable about his company’s progress in beginning copper production by the end of the year.

Pumpkin Hollow

Pumpkin Hollow
Maurice Jackson: Joining us for a conversation is Matt Gili, president, CEO and director of Nevada Copper Corp. (NCU:TSX), which is on target to U.S. copper production by Q4 2019.
Nevada Copper has a number of successes to share with reader. But, before you share the unique value preposition of Nevada Copper, Mr. Gili, for readers who may not be familiar with the supply and demand fundamentals regarding copper, please provide us with a 10,000-foot overview.

Matt Gili: When you look at the copper fundamentals, we see a very steady and predictable increase in demand of copper, modest amount, 1.5% per year. We see the move towards electrification of vehicles consuming more copper. We see other things that are offsetting that, but overall, a steady predictable 1.5% increase in the global demand for copper. Where the story really gets exciting, from the Nevada Copper standpoint, is with regards to the supply for copper. What we’re seeing is a lot of restrictions in future supply. We’re seeing a lot of difficulties on bringing on a future supply and backed up by work done by Wood Mackenzie and others, we’re projecting that by 2025, the world will be in a supply deficit of upwards of 6 million tonnes of copper per year. This just really supports what we’re doing in Nevada Copper in setting up the next copper mine.
Maurice Jackson: Now that we have an overview of the supply and demand fundamentals for copper, Matt, let’s discuss how someone listening may position himself prudently as a beneficiary. For someone new to the story, can you give us a very quick overview of Nevada Copper?

Matt Gili: Certainly. Nevada Copper, who’s Nevada Copper? We have an asset in Nevada called Pumpkin Hollow. This is our chief asset. It consists of two deposits: an underground deposit and an open-pit deposit for copper. We’re currently in the construction phase for the underground project with production from that underground project coming online later this year. I think we’ll talk more about that later. Regarding the open pit, we’re currently in the process of wrapping up the prefeasibility study for the open pit. You’ll see that being published in April of this year. Then, we have a regional land package of well over 15,000 acres that we are looking at really understanding, really unlocking the full value from that land package. That’s really Nevada Copper, building a copper mine coming into production later this year, with a lot of expansion into an open-pit mine, as well as regional exploration.

Maurice Jackson: Let’s provide readers the latest updates on Nevada Copper, as the company has been very proactive on a number of fronts. Please provide us with an update on the construction progress. I would like to begin with the multi-million dollar question, are we on track to enter production in Q4 of this year?
Matt Gili: Yes, Maurice, we are on track to enter production in Q4 of this year. We are very proud of that. The team’s doing a fantastic job. We have construction activities both on surface with Sedgman building the process plants, as well as underground cementation, both sinking shaft and doing lateral development on our main shaft. All that’s coming together very nicely. We are absolutely on track for commissioning of the plant in the fourth quarter of this year.
Maurice Jackson: As Nevada Copper is preparing for production this year, have you increased your staffing to meet the growing demands?
Matt Gili: That’s a really good question and yes, we have. We’ve increased our staffing. It’s an operational readiness question that you’re asking. This is where I want to stress to you and readers that this concept of operational readiness is foremost in our thoughts and how we’re planning for really becoming, not just building a great mine, but operating a great mine. When you look at the staffing, so far, our staffing, by design, is quite modest. We’re looking at a total workforce of Nevada Copper employees of around 30. That is because this is our model, a very lean, efficient operation. We utilize high-quality, expert service providers as necessary, to make sure that we are operating very efficiently.
Maurice Jackson: Is Nevada Copper still actively recruiting and if so, what positions?
Matt Gili: Yes, we are actively recruiting. Most of our positions open are technical and specialist positions, and would be part of the management team. I absolutely encourage anyone interested in what we’re recruiting for to contact the Nevada Copper website. You’ll see the complete listing of opening jobs there, as well as information on how to apply for any of these positions if you’re interested.
Maurice Jackson: Pumpkin Hollow is unique in that you have both an underground and an open-pit mine. Let’s discuss exploration and expansion potential. What initiatives is Nevada Copper taking to optimize the full potential of the Pumpkin Hollow project?

Matt Gili: We are in the process of constructing the underground, which has a large amount of upside potential. We’ll really only explore that upside potential when we’re underground, after we’re in production. We really look forward to updates on that front in 2020, and the reason for that is very simple. It’s just much more efficient to drill out the prospective areas of the underground from the underground; the holes are shorter. It’s just much easier. That’s really where the underground sits right now, in a holding pattern as far as expansion potential. When you look at the open pit, that’s where a lot of great energy is going into expanding the open pit, understanding the open pit better, really getting that ore body knowledge to allow you to build a world-class operation. That is part of the PFS, which is coming out in April of this year.

That PFS will include the drilling campaign that we completed in 2018, the 26 hole drilling campaign. It will include those results in the resource model. That’s going to give you an even better idea of the full potential of the open pit. The real excitement that we have is with regards to the region itself, a large region, relatively unexplored, but with large amounts of historical copper production, as well as great physical outcroppings of copper mineralization. This is really where we’re going to focus our efforts during 2019, to really get a chance, now that we’ve tied up this land package, to understand what we have.
Maurice Jackson: Speaking of the region, there was a regional survey conducted that led you to staking more land. Can you share the results with us?

Matt Gili: We staked a section a land that we refer to as the Teddy Boy Claims. This is about 5,700 acres of land to our northeast. We are very glad to have this in our portfolio. The criteria for that selection was we brought together experts on this region and experts in copper mineralization. They identified that as a really prospective area and where we should be really focused on. We’ve staked that land, secured it for our ability to explore over the next several years.
Maurice Jackson: Does Nevada Copper plan to drill the new area at some point this year?
Matt Gili: We plan on drilling this year. I really haven’t put out the entire drill program for 2019. We’re still pulling that together and analyzing where to best spend the monies we have available for exploration. We would like to drill that this year. Some more prospective holes, really not an in-depth blanket campaign, but probe a few really interesting areas over there and get a better idea for the drill campaign.
Maurice Jackson: It’s one thing to have tonnage and grade, but you must equally have astute business acumen to make the numbers work. Now, Nevada Copper is in discussions regarding an ECA-backed project finance facility to further optimize the balance sheet, as well as lining up a working capital facility and further offtake agreements to improve the economics of Pumpkin Hollow. Please provide us with the details.
Matt Gili: You kind of said it all. I can’t really provide you with any more details, but I can surely stress what you’ve just said, Maurice. We are in discussions with this export, credit agency style backed project financing. This is going to provide us the opportunity to substantially reduce the cost of our debt service, as well as attract strong and robust financial partners for potential future open-pit developments. Something we’re very excited about and it’s part of really creating Nevada Copper as a world-class company.
Maurice Jackson: Let’s get into some numbers. Please share your capital structure.

Matt Gili: The capital structure is well defined. We have $8 million in long-term debt. We have $153 million of cash or cash equivalents. When you look at the financing package specifically for the underground, we’re fully financed, including the working capital facility to take us through operation ramp up. The inputs into that are an equity raise that we did in the middle of last year, as well as a streaming deposit with regards to a stream arrangement on the precious metals strictly from the underground deposit. We also have a $25-million subordinated debt package. Really a standby loan facility that we can use if necessary.
Maurice Jackson: In closing, I have a multilayered question. What is the next unanswered question for Nevada Copper? When can we expect a response? What determines success?
Matt Gili: I would not classify our successful completion of underground construction and bringing them in operation as an unanswered question. That is going to happen, and I’m very proud of the activities that have happened so far. The real unanswered question for the investors out there, is what is the true potential of the open pit? There’s been a lot of great work done, a lot of exploration done, last year. That’s all been incorporated. I’m really going to be excited when the PFS is released and we can share the details of the open pit potential with the public. They are going to be very impressed and they’re going to see the picture. They’re going to see what we see when we get so excited about Nevada Copper.
Maurice Jackson: Speaking of the prefeasibility study, give us a timeline on that, sir.
Matt Gili: We’ll release that in April. I’m being careful. I don’t want to be too specific. It will be in April of this year. Next month.
Maurice Jackson: Mr. Gili, last question. What did I forget to ask?
Matt Gili: Maurice, forget to ask? You’re always very thorough, so I wouldn’t say you forgot to ask anything. What I would say is I want to reiterate something that we at Nevada Copper have been thinking about over the last month. Unfortunately, for the world, the last month has been a month marred with tragedies, with risk and with unexpected events. What we’re really stressing, with Nevada Copper, is the risk management of Nevada Copper. We are an operation that is on private land. We’re not waiting for any permits. We’re not waiting for records of decision. We’re utilizing EPC contractors, who have that fixed price nature, reduced risks. We’re building a dry stack tailing facility. We’ll never have a wet tailing storage facility at Pumpkin Hollow.  We’re doing this all with a proven, experienced team of mine builders and operators. Really wrapping that up, that concept of low risk, risk mitigation. We are going to build and operate the next mine and there’s very little risk to that execution.
Maurice Jackson: Matt, if investors want to get more information about Nevada Copper, please share the website address.
Matt Gili: Absolutely, www.nevadacopper.com. We love to get your input. You’ll see our investor presentationsthere in our latest news. Let us know what you think.
Maurice Jackson: For our audience, we wish to remind you that Nevada Copper trades on the TSX symbol, NCU, and on the OTC symbol NEVDF. For additional inquiries, please contact Richard Matthews at (877) 648-8266 or you may email RMatthews@nevadacopper.com. Nevada Copper is a sponsor and we are proud shareholders for the virtues conveyed in today’s message.
Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Matt Gili of Nevada Copper, thank you for joining us today on Proven and Probable.
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.
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Base Metals Energy Exclusive Interviews Junior Mining Project Generators

(VIDEO) FISSION 3.0 Prospect Generator in Position for Uranium Turnaround

Ross McElroy the COO and Chief Geologist for Fission 3.0 (TSX.V: FUU | OTCQB: FISOF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of Fission 3.0 and their Property Bank. In this interview Mr. McElroy provides the macro economics for uranium and how one may allocate their uranium holdings in a Uranium Project Generator with a Property Bank with projects located in high-grade uranium districts, with proven management and technical team that has a 20 year history of delivering success to shareholders.

VIDEO

AUDIO

TRANSCRIPT


Original Source: https://www.streetwisereports.com/article/2019/03/16/prospect-generator-in-position-for-uranium-turnaround.html
Maurice Jackson: Joining us for a conversation is Ross McElroy, the COO and chief geologist for Fission 3.0 Corp. (FUU:TSX.V; FISOF:OTC.MKTS): A Uranium Project Generator and Property Bank. Ross McElroy, glad to have you back on the program to share the value proposition of Fission 3.0. Before we begin, Ross, I’d like to begin with some basic fundamentals regarding uranium. For someone new to the uranium sector, what is uranium, and where is it used?
Ross McElroy: Uranium is really all about energy. The way we use uranium is for nuclear fuel. That’s basically the fuel that runs reactors.
Globally nuclear power constitutes between 15% and 20% of the electrical requirements. That’s really where the majority of the uranium is used. There is some uranium that’s used for strategic purposes on a country by country basis, more for the Department of Defense reasons. But really, the vast, vast majority of uranium is used to fuel nuclear reactors.
Maurice Jackson: Provide us with some metrics on how abundant uranium is in the Earth’s crust, and correlate that to the average grade that is found versus the grade that is needed to define an ore deposit in a future mine?
Ross McElroy: Well, uranium is actually one of the most abundant elements in the Earth. It’s kind of ubiquitous. You’ll see it throughout the Earth’s crust; there is trace amounts of uranium present primarily in volcanic and igneous rocks and sedimentary rocks.
On a deposit level, there’s actually a number of uranium deposits around the world, in every continent on the planet and in many countries. On a global basis, the average grade of a uranium deposit worldwide is around 0.1 to 0.15% U308.
Now, if you compare that to say, the deposits in Canada, they’re orders of magnitude higher grade in Canada. We’re talking orders of magnitude that are 10 to 20 times that of the global grade.
Although I’ve given you the average grade, most of those deposits at those lower grades, the average grades are really uneconomic deposits. We need grades that are generally much higher than the 0.1%–0.15% if it’s going to be an economic deposit. And that’s what Canada has. Canada has very high-grade deposits, so the economic metrics are just that much more attractive in Canada.
Maurice Jackson: Now that we’ve identified uranium’s utility, what can you share with us from a supply and demand perspective?

Ross McElroy: Well, it’s fairly simple to understand what the demand for nuclear energy is, in other words, uranium. We can just multiply the number of reactors around the world that are currently operating, and the known fuel consumption rate for a 1000 megawatt reactor is just under 500,000 pounds of uranium a year. If we look at the global reactors, there are around 450 reactors around the world. You can see that the need for uranium on an annual basis is around the realm of almost 200 million pounds of uranium.
Maurice Jackson: How does the nuclear plant in Fukushima, Japan, fit into this narrative?
Ross McElroy: Japan historically, up until the Fukushima event in 2011, was one of the main users on a country basis worldwide. Japan I think consumed almost 20% of the world’s nuclear power, in other words, 20% of the world’s annual production of uranium was used to run the Japanese reactors.
In 2011, of course, we had the magnitude 9 earthquake followed by a tsunami, and that’s what damaged the Fukushima facility. Interestingly enough, even with that magnitude of an earthquake and the soon-to-follow tsunami, the reactor still did not breach. The housing that surrounded the reactor was damaged, and this is where some of the radiation leaks came from, but the reactor itself actually held, and so the damage was actually very, very limited and manageable.
What happened is overnight, Japan shut down all of its nuclear reactors, in other words, all 52 reactors I think they had working at that time, went offline. That caused disruption to the supply/demand situation globally.
What’s happened since then is Japan is slowly coming back on. Japan’s alternatives for power are pretty limited as the country doesn’t have very much of its own resources, if any at all. It imports whatever energy that it needs, be it in natural gas now, in nuclear.
It’s important for Japan to be able to operate these factories that they’re running. I mean, it’s an exporting country around the world, so it does have high energy requirements. It also has the requirements for inexpensive power.
Japan is coming back on to the scene as far as nuclear power. There are eight reactors that are currently back up and operating, and 17 reactors that are in the near-term licensing for approval to get them restarted again.
I think the bottom line is, prior to Fukushima, Japan depended on nuclear energy for at least 25% of its electricity demands. I think by the time 2030 approaches, Japan is supposed to be right back up to those same levels. The country is coming back on, it has always been an important major consumer of nuclear power. I think we’ll see it right back to the equation again in the very near future.
Maurice Jackson: Uranium, next to gold, is known as the other yellow metal, and here’s why. Ross, let’s step back to the bull market in uranium. If one was selective with the uranium holdings, they would’ve had generational changes in their portfolio. What was the spot price during the last bull market?

Ross McElroy: Well, in 2002, uranium was around, I don’t know, about $15 a pound. This is on the spot market. That’s what uranium was trading for.
In 2003–2004, we really saw the lift off of the price of uranium. In fact, it peaked at 2007 to around $140 a pound. It went almost a 10-fold increase in the price of the commodity between 2003 and 2007. The peak at 140 didn’t last particularly long, but it had a slower decline until about 2008—2009, it stabilized, and then it peaked back up again.
Really, it was holding steady. I guess this is the point I would want to make, is that we were starting to see a steady state price of between $50 to $70 a pound, and then the Fukushima event hit that we talked about in 2011, and that really threw the whole pricing structure right out the window. We’ve been working on our recovery ever since.
Maurice Jackson: What is the spot price for uranium today?
Ross McElroy: Currently we’re about $28 a pound for uranium. It has recovered; we’re off the bottoms of $17, $18 a pound just a couple of years ago. Uranium is making its way back.
Maybe the important point here to note is we’re still at prices that the majority of mines around the world are not profitable. Even the lowest cost producers are really not operating in an environment where they can make money with uranium prices what they’re at right now.
What we’ve seen is that the supply is starting to be restricted as the producers are taking a lot of that uranium off market; they’re not supplying it to the utilities at this cheap price, because it’s not a working business model to lose money in the long run on the mining of the commodity.
We are seeing an improvement in the price of uranium, and it’s been about a year and a half in the making. It’s gone up from the $18 that I mentioned to about $28 a pound, but it certainly has a lot more room to move upwards even before we can start to get production back online to meaningful levels.
Maurice Jackson: What is that spot price that companies right now, uranium companies I should say, for them to earn their cost of capital? Is the number around $60 for a spot price of uranium?

Ross McElroy: I believe you are correct. We’re seeing prices that globally, they have to be in the $60 to $70 a pound really to bring on any meaningful production.
One of the clues that I look at when we look at the best uranium mines out there, the lowest cost producers, those would be McArthur River deposit in Canada’s Athabasca Basin in Northern Saskatchewan. That is one of the best uranium mines in the world, certainly the largest highest-grade operating mine. Cameco took that offline because of the prices of uranium where they were at, they weren’t making any money on the mining of this deposit.
There are some indications that Cameco won’t turn that mine back on into being a producer until the price of uranium is somewhat north of $40, maybe $45. Something in that realm.
I don’t have an exact number there, but it does tell you that if you’re going to even bring back the best of those deposits, you really need prices that are something of $40 to $45. As we mentioned earlier, the price for many of the other deposits around the world are probably closer to $60 or $70. You can see, there’s still lots of room for improvement.
Maurice Jackson: The current price of uranium does not support the fundamentals. What correlations do you see today that may exceed the returns from the last bull market?
Ross McElroy: Well, it’s sort of an elastic situation. I think that the longer that we keep depressed prices, yet the demand is still there and growing, reactors are being built, the need to fuel these reactors, that’s not stopping.
In fact, it’s growing. You have the primary suppliers of uranium, i.e., the mines that are not supplying it, the longer that the prices are low, the more rapid that climb will be in the price of uranium when it does correct.
I think there’s a possibility, as I’ve heard some analysts call it, a violent reaction upwards to the price of uranium. I think we’re going to see some substantial price increases within some short vision of time, maybe a year or two or three. Something in that realm that I think will be quite meaningful.
We’ll see what happens, but the longer it stays depressed, the more likely and quicker the rise will be when it does come.
Maurice Jackson: Ross, you’ve provided a compelling case on the fundamentals for uranium. I know readers may be asking, how will all of this demand for uranium be met? Mr. McElroy, please introduce us to Fission 3.0.
Ross McElroy: Fission 3.0 is a uranium explorer. This is a company that we spun out of Fission Uranium Corp. (FCU:TSX; FCUUF:OTCQX; 2FU:FSE), our larger company, back in 2014 when we bought out our partner on the Patterson Lake project, and in so doing with that process from that arrangement, we spun out our non-core assets, the more grassroots exploration projects.
We’ve been able to build up an exploration portfolio, primarily focused in the Athabasca Basin. Remember, the Athabasca Basin is Canada’s only producing uranium field. That’s where the McArthur River deposit is, this is where Fission Uranium has the Triple R deposit. There’s some fantastic deposits out there.
That’s what we’re exploring for in Fission 3.0. We’re looking for the next high-grade uranium deposit in the Athabasca Basin.
Maurice Jackson: You referenced that you’re a project generator. There’s a lot of ambiguity regarding project generators. Please share the virtues and why Fission 3.0 took on the project generator business model?
Ross McElroy: Project generators are really all about sharing the risk. In our case, what we do very well is pick ground. We’ve been able to strategically stake ground in the Athabasca Basin, we’ve made discoveries on two of our properties, the first one in the company called Fission Energy that we made the discovery at our Waterbury Lake property, and later on in Fission Uranium Corp on our PLS property.
That have been situations where we’ve had joint-venture partners sharing the risks, sharing the costs with others. To use the model, what we do is we use our brands and other peoples’ money. That’s really what we’re good at, that’s basically the model that we have.
We have a very highly trained technical team that’s exceptional at picking out high-quality projects. We attract other people who are looking to get into the uranium business, looking to partner up with a team such as ours and join us for the ride to make a discovery.
It’s really all about sharing risk. That’s really what the project generator model does. It’s our land, and we partner with good quality people that can fund a project, and that’s how they earn into it as well.
Maurice Jackson: Do you currently have a joint-venture partner? If yes, who and what are the terms of the relationship?
Ross McElroy: We have had joint-venture partners in the past, and very successful ones. As I mentioned earlier on our Waterbury project, we had a partner with the Korean utility called KEPCO. It earned in by spending a certain amount of money on the property each year over the course of a three-year period.
What we did with that, we were able to make a discovery, using the money in that project, we made a discovery, built up the resource estimate on there, and eventually sold that asset. That was how our shareholders were able to take advantage of our monetizing on the property.
I guess we could say the same at the PLS project, which we now own 100% of it, but that was also a partnership. We shared in the risk early on and in the money early on with our partner. We eventually bought them out in 2014. That was another example of a successful joint venture partnership.
Each one of the deals would be a little bit different from each other. It is a model that we think works very well. I will note that in our property down in Peru as well, we have a partnership that we’re still looking to finalize the deal. This is one where another group has approached us, said it’s interested in the potential of a property down in Peru. It will spend a significant amount of money having us as the operator. Hopefully we’ll make a discovery down in Peru as well.
Maurice Jackson: Well, you’ve just alluded to my next question. Fission 3.0 has 18 projects in its project bank. Now, it is strategically located in premier, high-grade uranium districts in Canada and Peru. Mr. McElroy, introduce us to the Fission 3.0 Project Bank (click here).

Ross McElroy: We have 18 properties in the Athabasca Basin. Our properties, we think that everywhere in the Athabasca Basin has the potential to host high-grade uranium projects.
One of the keys that we seek to identify are deposits that will be shallow. In other words, the closer a deposit is to surface, the easier it is to build a case that this could be a project that could go into production. It’s an easier mine to develop the closer it is to the surface.

Really deep deposits are challenging. They still exist, but they’re challenging. Eventually they cost more money to find and cost more money to get out of the ground. They’re just another level of challenge.
If you look at our 18 properties, they’re all in and around the edge of the Athabasca Basin, where we’ve had a great deal of success finding near-surface mineralization.
Our PLS project that hosts the Triple R deposit in Fission Uranium is a great example of a near-surface deposit. The mineralization starts at 50 meters below the surface, so 150 feet below the present-day surface is where the high-grade mineralization starts. That makes it a potentially open-pit deposit, which is generally low cost and gives you a lot of flexibility.
This is the sort of thing that we’re looking for in Fission 3.0. We’ve got very good properties that are in known mining districts, conversely, we have a good portfolio of ground around the southwest side of the basin where our PLS project in Fission Uranium is hosted, and also NexGen’s Arrow deposit, it’s all in that same area. We have the significant land package that surrounds that area.

We also have a good strategic land package in and around the Key Lake area on the southeast side of the basin. This has been, and still currently is the hot bed of uranium mining in Canada right now. This is the side of the basin where the McArthur River and Cigar Lake deposits are located.

McArthur shut down for economic reasons waiting for higher uranium prices. It was an operating mine up until about a year ago, and Cigar still is in operation. You’ve also got the Key Lake mine.
It’s a strategic area to have a good land package. We think there’s lots of opportunities in and around land in that area to make a new discovery.

And probably third for us is the land package that’s up in the northwest side of the basin, in the old uranium city Beaverlodge district where uranium mining in Saskatchewan first got started back in the 1950s and was the going concern back in the ’50s and the ’60s, I think there were about 52 operating mines up in that area, pretty small scale most of them, but still lots of high-grade uranium. That’s an area where we think that there’s still plenty of exploration potential.
Between all those areas, we’re going to be active and we’re going to be looking for the next high-grade uranium deposit in Saskatchewan.
Maurice Jackson: Speaking of being active, is there active drilling going on right now in these projects?
Ross McElroy: There is active drilling. We did drill in the southwest side of the basin. We were drilling in January on our PLN project. That project is just immediately north of Fission Uranium’s PLS project.
You’re really talking about the same area where the latest discoveries have been found, where you’ve got the Triple R deposit, you’ve got NexGen’s Arrow deposit. These are two of the best new deposits that have been found in the Athabasca Basin in the last 15 years.
We have a package around there called PLN, and we did drill six holes in there earlier this year. It has the potential to host another one of these fantastic deposits, so we are going to continue looking there. We see all the signs present that tell us that this is where we’ll make that discovery.
As we’re speaking right now, we’re drilling over in the Key Lake area that I described earlier. This is over on the southeast side of the basin, about 200 kilometers to the east of the PLS drilling. That is a program where we’ll drill probably eight or nine holes, just south of the Key Lake Mill and the old historical Key Lake deposits. There’s areas of activity there. We’ll continue drilling throughout the rest of 2019 on a number of our projects.
Fission 3.0 is active. We were able to raise some significant money early in the year, in late 2018. We’re going to be active. This is how we’ve been successful in the past, is by being aggressive, looking in places where people probably haven’t looked for a while or never even thought to look, and putting our technical team to work. Yes, you’ll see pretty good news flow out of Fission 3 this year.
Maurice Jackson: Ross, let’s expand the narrative on the project bank portfolio and go south into Peru. What can you share with us there?

Ross McElroy: Peru is a really interesting area. Where our projects are is called the Macusani Plateau, located in southern Peru, near the Bolivian border. The Macusani Plateau has shown at least over 100 million pounds in near-surface uranium deposits.

There’s a company down there that’s quite dominant called Plateau Energy. Plateau has been able to stake a lot and consolidate a land package in the area, and consolidated all these old deposits. It has amassed around 100 million pounds of uranium in these uranium deposits.

However, even more significant, Plateau made a discovery of high-grade lithium in the same area, and in fact, that’s within five kilometers of our southern property boundary on our Macusani plains. Not only do we have the potential now to host near-surface uranium deposits, and we have shown in fact that we do have mineralization on our property for uranium, we’ve mapped it, we’ve drilled, we’ve trenched and found high-grade uranium, but now the potential’s there for hosting high-grade lithium.
This is really a new dimension that we have down in that area, that we wouldn’t have had say, two or three years ago when we were last down drilling. You’ve got uranium, and now we have lithium. It’s a very interesting up-and-coming area as well.
Maurice Jackson: Switching gears, Fission 3.0 has the right projects in the right place at the right time. But that’s only part of the story. Equally important are the people that are responsible for increasing shareholder value. Mr. McElroy, please introduce us to your board of directors.
Ross McElroy: Thank you, and I appreciate that. We do have a very successful team. Our founder of Fission 3.0 is also the same CEO and founder of Fission Uranium, and previously Fission Energy before that, and Strathmore.
Dev Randhawa has been involved in this company right from the get-go in its first iteration back in 1996, and also heading up Fission 3.0. Dev is the longest running CEO in the uranium sector.
Myself, I’ve been involved with Dev 12, 13 years now. We’ve had a great successful relationship. We’re able to raise money, raise attention, put that money to work, make discoveries, and basically build shareholder value right from the bottom up.
This is the group that I think, we’ve been able to deliver in the past, and we’re going to be able to deliver shareholder value as we move forward in this much improving uranium sector.
A lot of the same players that we’ve had all the way along, still keep also in the Fission 3 group.
Maurice Jackson: Who is on your management team?

Ross McElroy: The management team is composed of our CEO Dev Randhawa and chairman. I am the chief operating officer, and also the chief geologist. We have maintained the same structure that we have in Fission Uranium, is the same that we have in Fission 3.0. It’s a fairly lean team. Phil Morehouse is president of Fission 3.0. We kept a pretty lean mean machine in Fission 3.
Don’t forget, we’ve had up until just recently in the last six months, it’s been a very quiet company, there hasn’t been a lot of exploration activities in the uranium sector. I think as we start to ramp up, with our level of activity increasing, we’ll start to draw more and more people into roles and developing roles within the company as we begin to be active, get out and start marketing the story more, get on the ground and back that up with real results, we’re going to continue to build our team.
Maurice Jackson: Before we move on to your impressive technical team, in the natural resource basis, why is it wise to follow proven winners? Ross, you alluded to it earlier, you and CEO Dev Randhawa have a proven pedigree of success. How were shareholders rewarded as far as returns for their loyalty to sticking with your team?
Ross McElroy: Well, if you owned the original company at the beginning, which would’ve been Strathmore Minerals, and you’d held on it to all the way throughout, over the last 20 years since about 1996, 97, you’d probably own about five different companies right now.
What’s happened is we’ve moved on to a new phase, we’ve made discoveries, advanced projects, sold different projects to different groups. What we’ve been able to do is form new companies, split off new companies in what they call a butterfly transaction.
You have shares in the new company, still maintain your shares in the old company, so you would’ve received essentially what would look like dividends in the way of different shares for five different companies since that time. The shareholders that have been loyal and sticking with us would’ve succeeded quite handsomely all the way along.
Maurice Jackson: Your technical team is exceptional. I had an opportunity to meet them in the summer of 2016 at the site visit there. Please, introduce us to them.
Ross McElroy: We’re very, very proud of this group. This has been the team we’ve had, the same core group of people with us since 2010. With that same group, we were able to make our discovery on the Waterbury Lake project, and then followed up in 2012 with the discovery of PLS. It’s the same group that is very core and important to us in Fission 3.0.
I do head up the team and the technical group, so I would be the team leader or chief geologist for the technical team. My right hand guy is Raymond Ashley, he’s the VP of exploration. Ray is an excellent geoscientist who I’ve had the pleasure to work with for over 30 years in this sector, so we’ve been working pretty close together. Definitely a proven mine finder.
We’ve basically held the same group of people together on the project managers, all the structural scientists, geochemists. We’ve kept the same core group together over the last almost 10 years or so.
To me, that’s really the key. You want a team that works together well, good chemistry with each other, the ability and the environment to think outside of the box. Really, the goal for each and every one of us is to responsibly make world-class discoveries. That’s what we’re all about.
We’ve got an excellent team. All the key people are listed on the website. You’ll be able to go there and see the roles of the various groups there in the technical team, but there’s about seven or eight of us that have been able to be what I consider the core team for the last decade or so.
Maurice Jackson: Let’s get into some numbers. Please share your capital structure.

Ross McElroy: In Fission 3.0, we have 142 million shares outstanding. We were able to raise a significant amount. We have just under $7 million in the treasury right now, that’ll allow us to be active over the next two years or so.
Maurice Jackson: What is your burn rate?
Ross McElroy: The burn rate, because it’s exploration, it’s pretty discretionary spending. We have $7 million that we have in the treasury right now, that’ll certainly carry us over the next two to three years of pretty aggressive exploration spending on our key projects. We can dial that kind of number up, and we can dial it back as conditions warrant. That’s the benefit of being in exploration.
The burn rate is actually pretty minimal. In other words, we run a pretty lean shop as far as the number of management and corporate costs. Really, the majority of the costs are exploration spending, which is really entirely discretionary.
Maurice Jackson: How much debt do you have?
Ross McElroy: We have no debt. We’ve not taken on any debt. Basically, the money that we raise have been through equity share offerings. No debt in Fission 3.0.
Maurice Jackson: Who are your major shareholders? What is their level of commitment?
Ross McElroy: When we spun off Fission 3.0 back in December of 2014, it was the same shareholders that were shareholders of Fission Uranium, were the same shareholders in Fission 3.0. We would’ve had a lot of the same loyal, large shareholders, including JP Morgan, even investment from others that we’ve had along the way. It’s been the same loyal group.
We have significant new shareholders now with the financing that we did back in 2018, which was led by the Sprott Global Resources Group out of California. I think we have some new players back to the game, but we have a lot of shareholders that have been with us over the long haul.
These are people that have a good vision of the uranium sector. They know that the good times are around the corner. It’s a point that we believe really strongly, and we think that the sector is improving a great deal.
This is how our loyal shareholders are going to be rewarded, by being a much better market with an aggressive team like Fission 3.0, and the new shareholders will probably be long term loyal shareholders too if we’re successful and able to build value for them as well.
Maurice Jackson: What is the float?
Ross McElroy: Fully diluted, we have 227 million shares. We’ve got shares outstanding, we’ve got options and warrants that we’re a part of financing as well, so 227 million shares out in total. We trade around 240,000 shares a day, I think that’s our average volume.
Maurice Jackson: Multi-layered question. What is the next unanswered question for Fission 3.0? When can we expect a response? What determines success?
Ross McElroy: Well, we are going to be successful through work. We know that a better market should buoy the price up of everybody involved in the nuclear sector. They’re starting to get some life back in the exploration world.
Really, we’ve always built value by our success. We’ve been successful with making discoveries. We now have the money, we have the team, we’re putting them to work. I would look to us as being one of the most dynamic uranium explorers out there. That’s something that I think people can follow, they can see our news release cycle, they’ll see how we’re marketing our story, and just look at the results. I think they’ll speak for themselves.
We’re looking at our projects, we’ll be active throughout the calendar year. I think the news flow will be very strong and steady. People that are interested in following the company will always see that there’s a continuing narrative out there. We want to take advantage of this and improve the uranium market, the fact that we are well financed, and we have the properties that we want to explore. I think there’s a very good opportunity for readers to look at Fission 3.0 as a sector leader in the uranium exploration business.
Maurice Jackson: Mr. McElroy, last question. What did I forget to ask?
Ross McElroy: I think we’ve covered a lot of ground here, and a lot of important ground. One of the takeaways that I want readers to know is we really do believe in the nuclear sector. We think that we have turned the corner and that conditions are improving.
If people are looking to invest in the uranium sector, I think it’s important for them to look at a group that has done it before. Your track record is very indicative of what your future has the potential to look like. I always find myself, when I’m investing, I like to back teams with a proven track record.
We have that in our group. We’ve got an exceptional management team. We’ve done it before. We’ve been able to capitalize on our discoveries by selling assets. We have a unique technical team that has the ability to make discoveries.
So better sector, very good team. Strong management. Those are the ingredients we need to be successful.
Maurice Jackson: Ross, for someone listening that wants to get more information about Fission 3.0, please share the website address.
Ross McElroy: Our website address is www.fission3corp.com.
Maurice Jackson: For direct queries email ir@fission3corp.com, or you may call (778) 484-8030. Fission 3.0 trades on the TSX:V, symbol FUU, and on the OTC, symbol FISOF.
For audience, we’ve been proud shareholders of Fission 3.0 since 2014. Last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Ross McElroy of Fission 3.0, thank you for joining us today on Proven and Probable.
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) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Fission 3.0. 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: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) 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.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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Junior Mining Precious Metals

ROVER METALS | Firm Advancing Gold Exploration in the Northwest Territories

 

Judson Culter the CEO and Director of Rover Metals (TSX.V: ROVR | OTCQB: ROVMF) sits down with Maurice Jackson of Proven and Probable to discuss the value proposition of the Cabin Lake Property. In this interview Mr. Culter will provide important updates on the Uptown Gold Property, Cabin Lake Project, and Slemon Lake. Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources (specifically gold). In this interview we will discuss the recent accomplishments of Rover Metals. Ranging from IPO and the implementation of a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program.

VIDEO

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TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/03/10/firm-advancing-gold-exploration-in-the-northwest-territories.html

Firm Advancing Gold Exploration in the Northwest Territories Contributed Opinion

Source: Maurice Jackson for Streetwise Reports  (3/10/19)

Maurice Jackson

Judson Culter, CEO of Rover Metals, speaks with Maurice Jackson of Proven and Probable about historical exploration on his company’s properties, as well as current exploration plans.

Gold exploration
Maurice Jackson: Welcome to Proven and Probable. I’m your host, Maurice Jackson, and joining us for our conversation is Judson Culter, the CEO and director of Rover Metals Corp. (ROVR:TSX.V; ROVMF:OTCQB). Mr. Culter, welcome to the show.
Judson Culter: Thanks for having me, Maurice.
Maurice Jackson: Glad to have you back on the program. We last spoke in January of 2018, and since then Rover Metals has completed its IPO and implemented a methodical process of building an exploration company that is positioning itself for success from land acquisitions, permit approval, OTC listing, option agreements and completed the first phase of the 2018 exploration program. But before we begin, Mr. Culter, for first time listeners, who is Rover Metals?
Judson Culter: Rover Metals, we are a precious metal exploration company, specifically gold is our focus currently. We’re co-listed in the United States OTCQB: ROVMF, as well as Canada on the TSX.V ROVR. Our project portfolio is concentrated in and around Yellowknife’s Northwest Territories, one of the most mining friendly jurisdictions in Canada and for North America for that matter. I say that just because that’s where our (Canada’s) diamond mines are. That’s historically where several of our gold mines have been. It’s really the primary employer in the Northwest Territories. Outside of government, mining is it.
Maurice Jackson: Why has Rover Metals received so much interest here of lately?
Judson Culter: I think that’s a two pronged answer. First is just credibility. Going back to 2017 on call with you, Maurice, if one listens to that interview, we talked about how we were going to go public, and how we were going to drill our resources, and how we were going to look to add new resources in the similar area code of Yellowknife.
We’ve successfully accomplished all those tasks. I believe we have strong foundational base in our existing shareholders. We’ve got a lot of credibility with them. We get a lot of word of mouth. I think that goes a long way in a market that can be a little bit over saturated in the junior mining space with which projects or which management teams do you back. I think really that we’ve gotten recognition for that now, which is really helping to drive our current success.

The second prong answer speaks to the projects themselves. Rover has the Cabin Lake Project, which is really what the market is asking for, and that’s why we bought it. When we receive the results from our drilling, we believe we will a high-grade gold historical resource that will contain super high grades that the market wants to see as confirmation that this really could be the next gold mine in the Yellowknife, Northwest Territories.

Not to mention this project itself has all the merits a speculator wants. We have solid infrastructure, the Blue Fish Hydro Dam, roads, all the accessibility and proven area of past producers. The market is beginning to recognize the credibility of the management team and the assets. Also, the awareness that we are near drilling in the not-too-distant future has investors’ attention as well.
Maurice Jackson: Justin, what is the driving thesis for Rover Metals in regards to the Kevin Lake gold project?
Judson Culter: The driving thesis has not changed. It’s the same thesis as in the late 1980s. There’s a project called the Lupin Gold Mine that produced from 1983 to 2003 in the north, which is an iron formation, super high-grade gold. The thought at the time was to go and find another one, and that’s what they thought they had here. This is when Cominco and Freeport McMoRan and then Aber Resources, that’s what they thought they had here. They drove 7,500 meters of at or near-surface iron hosted high-grade gold. The only reason they stopped is because somebody found kimberlites a few years after, and the diamond boom in the Territories began.
This project just kind of sat on the back burner as a result of that. Aber Resources, the owner of the time, of course, went on to find the kimberlites. That’s some historical context on this project and why it’s just now coming back to life.
Maurice Jackson: Talk to us about the business acumen here. When and how was Rover Metals able to acquire the Cabin Lake gold project in such a highly contested and sought out district?
Judson Culter: It wasn’t easy; when we looked at the business case, we figured that with a little bit of just rolling up our sleeves, and getting up there, and meeting the right stakeholders, and just recognizing that this is an area that needs new mines and new projects.
I didn’t think it would be like other areas in British Columbia, for example where BC, trying to get First Nation endorsement can be very difficult. There’s so many competing industries that people can really make a way of life in a jurisdiction like British Columbia, whereas knowing a little bit about the Northwest Territories, mining is a big deal up there. People want to see projects succeed.
When we went into the Cabin Lake project, we knew we had to get a couple of things there to get permits. We knew we had to get our neighbors, Tlicho First Nations, on board. We also did our homework and knew that the Tlicho First Nations had previously worked with Fortune Minerals, as well as Nighthawk Gold. When we got to it, there was a framework in place. There was a government that had been formed.
The Tlicho government and the land use formal plan to work within, for application permits, and applications. So, once we got to it, it ended up only being four months to get it permitted. I think it seemed to keep getting easier for us, and it ended up being a decision that looks like it was the right one to make.
Maurice Jackson: Regarding mineral rights in your project portfolio, are there any reversionary interests?
Judson Culter: There’s a 1.5% NSR that we’ve got viable down to a half percentage point for CA$250,000 per quarter percentage.
Maurice Jackson: And does Rover Metals own the mineral rights outright 100%?
Judson Culter: That’s correct. Yes, not just at Cabin Lake, but at the Cabin Lake group of projects. The claims themselves are 10 kilometers apart; so there’s three of them. For the entire group of projects, yes, we have 100% mineral right interest.
Maurice Jackson: Let’s fast forward to 2018 and discuss your exploration program. What were the results from that program and how has that improved the confidence in the gold project?
Judson Culter: It helped us to better track the iron information. So what we did was we spent the six months from March, when we acquired the project, into October, really to digitize all the historical records. At the time in the 1980s, that was meticulously kept, and it was handwritten. We digitize seven banker boxes of data, as well as three map boxes. Then, we put that in a GPS, and tag the colors and everything else.
Then what we wanted to do to follow on with that data was to run a current, modern-day geophysical program. There were a lot of options to us to do it, but in a really economical manner, but also to do it in a very detailed type formation using a drone. Because the mineralization occurs at or near surface, as well as the iron information itself being at or near surface, it really showed up well on the magnetic survey that we flew over the property. So by interlaying the drill results, as well as the mag survey, our geologist was able to get a better interpretation of the iron formation throughout the project. Really, that really set the stage for where we are going to put the drill when we get to drilling this year in 2019.
Beyond just the iron information, what we also realized about the project is the outcropping on either side is quartz. Historically, the quartz had never been tested for mineralization. So we also did a geochemistry program in October. What that showed us is that the PPM and PPB reading of gold from the quartz outcrop area suggest that it’s also very likely to be a host for gold on this project. It’s never been tested historically. That’s the excitement of 2018 and what’s led into the 2019 drill program, which was always trying to be between March and the end of April. We’re still trying to hold on to that deadline.
We’ve got the collars is ready to go. Right now, we believe what we need to do to start drilling is conduct a small financing that we’ll probably release in the coming week or two here.
Maurice Jackson: So to review the value proposition we had before. This is potentially an open-pitable, early-stage brownfield exploration gold project with historical high-grade resource next to a new cobalt-gold mine, is that correct?
Judson Culter: Yes, and that’s one thing I didn’t touch on is the actual historical resource itself. That’s 85,000 ounces unconfirmed in terms of what our current standards allow us to document as a historical resource. What we’re allowed to document in press releases and everything else is 50,000 ounces of roughly 10 to 12 grams gold per ton. The rest of that 35,000 ounces was never signed off by a Qualified Person, but it is in the NORMIN database in the Northwest Territories. It’s in the areas of the Andrew zone, which we’ve documented. Rover will do the work we need to do under 43-101 standards to take that other 35,000 ounces and get it compliant.
From our side internally, we see it as an 85,000 ounce of resource of 12 grams per ton gold on average. When we talk about it publicly, we have to say, 50,000 from a historical resource perspective, but you’re absolutely right that we’re 20 kilometers away from what’s looking to be Canada’s first cobalt mine. The reason I say that is this project’s been 20 years in the making; it’s at the feasibility stage. I believe they’re really just looking to raise the capital to get to work. It’s an open-pitable cobalt mine. The good news is it’s actually a cobalt gold bismuth. So there is a gold processor that’s going to be built 20 kilometers from us. What better news can you possibly have when you’re developing an at-surface resource?
Maurice Jackson: The location in of itself makes the opportunity quite interesting, but to have open pit to me is icing on the cake. Is the goal to sell the project or develop into a commercial scale mine?
Judson Culter: Definitely the goal is to sell it within the next three years, and so I want to put $10 million in the ground, and let’s get this wrapped up and sold. End of story.
Maurice Jackson: What can you share with us regarding the infrastructure?
Judson Culter: So what you see in Yellowknife right now is what’s going to be coming in the pipeline in the next two to three years in the Pine Point Zinc mine is going back into production and that’s Osisko. Part of that is twining the costs in Taltson Hydro Dam and bringing that into Yellowknife itself, as well as Hay River. There’s going to be federal funding allocated, as well as territorial, to do an environmental study that should be announced through fairly short order this year.
After there is a federally funded environmental study to evaluate the twinning of the Taltson Hydro Dam, a successful outcome will lead into a hydro power upgrade to Yellowknife. When Yellowknife is upgraded, that will free up excess hydro power at the Snare and Strutt Lake hydro dams, located approximately 5km away from Camp Lake, one of our claims that’s part of the Cabin Lake group. That power becomes excess power. All of a sudden that frees up for the future the viability of really selling the project because now you’ve got excess power sitting right there, five kilometers away. How good is that?
Maurice Jackson: Switching gears. Rover Metals’ board of directors and advisors consists of the following people:

Maurice Jackson: Bios for the management time are below:

Maurice Jackson: Let’s discuss some numbers. Please share your capital structure.
Judson Culter: We’ve got 47 million shares out today. That’s our issued and outstanding common shares. There are warrants out there. We have 10 million warrants at $0.20 cents, and 10 million warrants at $0.25 cents.
Maurice Jackson: How much cash and cash equivalents do you have?
Judson Culter: Treasury is sitting today around CA$450,000. Then, there’s been some prepayments for upcoming work commitments regarding our exploration plans for this year, as well as I mentioned, we’re doing a lot of our growth in terms of our marketing and our shareholder base in the United States. I think our prepaid balance, if you were to look at that today, should be around CA$200,000, just in terms of for events, as well as I mentioned, exploration planning. If you add that back to our cash position, we’re around CA$650,000 in current assets.
Maurice Jackson: What is your burn rate?
Judson Culter: Our burn rate’s about CA$30,000 a month, and that just includes all in. We purposely don’t carry an office in this market. We’re a bootstrap company. We have home offices, and then we’re on the road a lot. We’ve got an exploration office that is free from our exploration partner, Aurora Geosciences. That’s really where a lot of the hard work gets done. Then, there’s just no corporate office. I don’t feel the need for that, so that helps.
Maurice Jackson: How much debt do you have?
Judson Culter: We have some trade payables of, I think it’s roughly CA$40,000 that we’re going to settle in shares. Outside of that, we’ve got CA$25,000 in payables on top of that, that we’re going to pay in cash. That’s just some exploration legacy from last year.
Maurice Jackson: Who is financing the project, and what is their level of commitment?
Judson Culter: Just sophisticated mining investors. It’s been high net worth, accredited investors to this point. That will continue until we become a $10 million market cap company plus, because we’re just still not able to access institutional funds, and that’s fine. If Rover does everything that we hope to accomplish in the next drilling phase, which we hope is in the next 60 to 90 day window here, we should be a $10 million market cap plus company; and well on our way to institutional money.
Maurice Jackson: Who are the major shareholders?
Judson Culter: I’m a major shareholder. I’ve been seeding Rover not just with time, but my own money; since really inception in 2014. Tookie Angus, who is an advisor, is currently our third largest shareholder. Then, it really starts to break down to smaller tranches, but there is a notable name on the list: Ashwath Mehra, the chairman of GT Gold; he’s a relatively large shareholder.
Management, including Ron Woo. Ron’s also seeded this company. I think Ron’s probably fourth largest shareholder. Keith Minty’s a large shareholder; 38% of our outstanding shares are owned by insiders, management, board. That’s a good thing because that means our shares are tied up for three years.
Maurice Jackson: Judson, based on the data available, what type of value proposition do we have in comparing?
Judson Culter: Well, the market price, let’s just say, I think it should be $8.5 million, just on what we set out today. That’s my personal opinion. I think later value that, that’s just the reality of reserve stocks in North America. We’re going to do what we need to do to take that historical resource and bring it up to current standards, as well as to just extend where they stopped drilling, and just show them this really is a multimillion ounce potential asset.
I think we can get there with the drill program that we’re planning. We’re planning roughly a thousand meter program. I think the value proposition is we’re in a $3.5 million market cap today. I think we’re going to take it to $10 to 15 million in the next six months. Hold me to that.
Maurice Jackson: I certainly will, sir. Multi-layered question here: what is the next unanswered question for Rover Metals? When can we expect the response? How much will the response cost? What determines success?
Judson Culter: That’s going to be our Q1 or Q2 exploration drill campaign. I was going to caveat that, that is subject to the future success of our financing effort (click here), which we hope to announce in roughly two weeks’ time.
That will lead into confirmation of the historical high-grade gold results, such as the open-pit economics, expand upon the known mineralization in the iron formation, as well as to prove up a larger area play and this is more Q2/Q3 work, for the Slemon Lake, and Camp Lake claims, which are located 10 kilometers northwest from Cabin Lake, and we’ll fly that with an aerial B10 survey. What that will show is that the drilling we’ve done at Cabin Lake in the iron formation really just, those other two claims, or districts, an extension of the same geology, which everything that we’ve read historically shows us it is.
Maurice Jackson: Mr. Culter, please share the contact details for Rover Metals.

Judson Culter: Please visit our website www.RoverMetals.com. On there, you’ll find our social media links, which are LinkedInTwitter, our Facebook page and CEO.ca.
Our social media channels really have daily content. We’re press releasing every couple of weeks, but a lot of our investors like really the daily updates on what’s going on in the Northwest Territory. That’s the best place to stay tuned.
You can also submit to our mailing list. We typically will do an email update every two weeks as well. If you go to the bottom of the homepage on the website, and just submit your email, that subscribes you to our email mailing list.
Maurice Jackson: And last but not least, please visit our website, provenandprobable.com, for mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Judson Culter of Rover Metals, thank you for joining us today on Proven and Probable.
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.

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Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Rover Metals. 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: None. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) 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.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
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Blog

ROVER METALS Announces Private Placement Financing

VANCOUVER , March 4, 2019 /CNW/ – Rover Metals Corp. (ROVR.V) (ROVMF(“Rover Metals” or the “Company“) is pleased to announce its intention to complete a non-brokered private placement of units (the “Units“) at a purchase price of $0.08 per Unit, for aggregate gross proceeds of up to CAD$1,250,000 (the “Offering“). Each Unit shall consist of one common share in the capital of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“).  Each Warrant shall entitle the holder to acquire an additional Common Share at a price of $0.15 per share for a period of 24 months following the date of issuance.

Rover Metals anticipates using 80% of the proceeds of the Offering to finance exploration activities at the Cabin Lake Gold Project and remaining use of proceeds for general and administrative expenses.

The Company may pay finder’s fees in accordance with the policies of the TSX Venture Exchange in connection with the Offering.

Rover Metals anticipates relying, in part, on the exemption from the prospectus requirements provided in BC Instrument 45-534 – Exemption From Prospectus Requirement For Certain Trades to Existing Security Holders (the “Existing Shareholder Exemption“).  The Company may also rely on other available prospectus exemptions.

Rover Metals has set March 1, 2019 as the record date for determining shareholders entitled to participate in the Offering in reliance on the Existing Shareholder Exemption. If the Offering is over-subscribed, Units will be allotted on a first come first served basis. Qualifying investors who wish to participate in the Offering should contact the Company using the contact information set forth below. It is anticipated that the Offering will close in one or more tranches commencing on or about March 15, 2019 .

All securities issued under the Offering will be subject to a hold period of four months and a day from the distribution date, in accordance with applicable securities laws.  Completion of the Offering is subject to the receipt of all applicable approvals, including the approval of the TSX Venture Exchange.

About Rover Metals
Rover Metals is a natural resource exploration company specialized in gold that is currently focused on the Northwest Territories of Canada , one of the most mining friendly jurisdictions in North America . The Cabin Lake Group of High Grade Gold Projects are located within 20km of Fortune Minerals’ (FT.TO) planned NICO Project gold processor.

You can follow Rover Metals on its social media channels Twitter: https://twitter.com/rovermetals, LinkedIn: https://www.linkedin.com/company/rover-metals/, Facebook: https://www.facebook.com/RoverMetals/, and CEO.ca: https://ceo.ca/rovr for daily company updates and industry news.

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

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.  Forward-looking statements in this document include statements regarding Rover’s expectations regarding the issuance of Units and receipt of regulatory approval therefor and the use of proceeds from the Offering. There can be no assurance that such statements will 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

View original content:http://www.prnewswire.com/news-releases/rover-metals-corp-announces-non-brokered-private-placement-of-up-to-cad1-250-000–300805708.html

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

RIVERSIDE RESOURCES Announces Spin-Out Blue Jay Resources

In this video, Dr. John Mark Staude and Georgie Mark discuss exciting developments from Riverside Resources, including the upcoming spin-out of Blue Jay Resources, a company focused on gold exploration in Ontario’s Beardmore-Geraldton gold belt. Dr. Staude highlights the strategic decision to diversify Riverside’s portfolio beyond Mexico, with Ontario offering a prime location for gold discovery. Georgie Mark, the newly appointed CEO of Blue Jay Resources, shares his vision for the company’s growth, including exploring high-grade gold deposits that have been overlooked for over 70 years. They also discuss Riverside’s strong capital structure and the opportunity for shareholders to benefit from both Riverside and Blue Jay’s future success. Find out why Rick Rule is a shareholder in Riverside Resources.

For investor questions please call or email:

Website: https://www.rivres.com/ TSX.V: RRI | OTC: RVSDF Communications Team 778-327-6671
Email info@rivres.com

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Categories
Base Metals Energy Junior Mining Oil & Gas

Jericho Energy Ventures’ Hydrogen Technologies Granted UK Patent as it Continues to Advance its Zero-Emission Combustion Technology

PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / November 27, 2024 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that its wholly owned subsidiary, Hydrogen Technologies (“HT“), has been awarded a UK patent for its groundbreaking zero-emission hydrogen-oxygen (H2/O2) combustion technology.

This is a continuation of Jericho’s IP protection strategy for its cutting-edge clean energy solutions, which are aimed at transforming the commercial hydrogen energy market. In addition to the newly granted UK patent, HT has secured multiple patents from the United States Patent and Trademark Office (USPTO), with others currently pending approval.

Brian Williamson, CEO of JEV, commented: “Securing this UK patent is a key milestone in our IP protection strategy as we move to commercialization of our groundbreaking H2/O2 combustion technology. We remain committed to an IP protection strategy that recognizes the value of Jericho’s IP portfolio with each new generation and innovation.”

HT is presently working with its manufacturing partners, Superior Boiler and Selas Heat Technology, to deploy its cutting-edge DCC™ boiler technology at a prominent Western US university to provide decarbonized district heat for its campus. This development places JEV and HT at the forefront of market ready solutions to decarbonize the estimated $198 billion global district heating market.¹

HT is actively collaborating with several multinational corporations, universities, and districts to study the use of its zero-emission hydrogen boiler technology to significantly reduce scope 1 emissions.

Hydrogen Technologies’ GHG-free hydrogen-fueled boilers offer a highly efficient and sustainable alternative to conventional fossil fuel-based boilers. DCC™ boilers eliminate greenhouse gas emissions, providing a clean and eco-friendly source of steam and hot water for various industries and applications. HT’s DCC™ system is a recipient of the Solar Impulse Foundation’s prestigious “Solar Impulse Efficient Solution” award recognizing profitable solutions to protect the environment.

JEV recently announced plans to spinout its hydrogen platform from its traditional energy assets as a separate, pure-play H2 solutions company to maximize shareholder value.

About Hydrogen Technologies

Hydrogen Technologies (HT) offers its award-winning CLEAN, ZERO-EMISSION ENERGY SOLUTION for the Commercial and Industrial Boiler Market. There are a wide range of applications for our cleanH2steam DCC™ boiler, which works much like traditional commercial heat, hot water and industrial steam boilers. Whether the application is district heating, food processing, chemical refining, pharmaceuticals, pulp and paper mills, or any other industrial process, HT has a reliable, efficient and clean solution for your GHG and ESG goals.

Website: www.hydrogentechnologiesllc.com
X: https://x.com/h2_technologies
LinkedIn: https://www.linkedin.com/company/hydrogen-technologies-inc/

About Jericho Energy Ventures

Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.

Website: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures

CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Dir. of Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
Email: investorrelations@jerichoenergyventures.com

This news release contains certain “forward-looking information” and “forward-looking ‎statements” (collectively, “forward-looking statements“) within the meaning of applicable ‎securities laws. Such forward-looking statements are not representative of historical facts or ‎information or current condition, but instead represent only Jericho’s beliefs regarding future ‎events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of ‎Jericho’s control. Forward-looking statements are frequently characterized by words such as ‎‎”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, ‎or statements that certain events or conditions “may”, “will” or “may not” occur.‎

Forward-looking statements are subject to a variety of risks and uncertainties and other factors ‎that could cause actual events or results to differ materially from those anticipated in the forward-‎looking statements, which include, but are not limited to: regulatory changes; changes to the ‎definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other ‎infectious diseases; general economic conditions; industry conditions; current and future ‎commodity prices and price volatility; significant and ongoing stock market volatility; currency and ‎interest rate fluctuation; governmental regulation of the energy industry, including environmental ‎regulation; geological, technical and drilling problems; unanticipated operating events; the ‎availability of capital on acceptable terms; the need to obtain required approvals from regulatory ‎authorities; liabilities and risks inherent in oil and gas exploration, development and production ‎operations; liabilities and risks inherent in early stage hydrogen technology projects, energy ‎storage, carbon capture and new energy systems; changes in government environmental ‎objectives or plans; and the other factors described in Jericho’s public filings available at ‎www.sedarplus.ca.

The forward-looking statements contained herein are based on certain key expectations and ‎‎assumptions ‎of Jericho ‎concerning anticipated financial performance, business prospects, ‎strategies, ‎regulatory regimes, the ‎‎sufficiency of budgeted capital expenditures in carrying out ‎planned activities, the ability to obtain financing on ‎acceptable terms, expansion of consumer ‎adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of ‎investments, all of which are ‎subject to change based on ‎market conditions, ‎potential timing delays ‎and other risk factors. Although Jericho believes that these assumptions and the expectations ‎are ‎reasonable based on information currently available to management, such ‎statements are not ‎guarantees of future performance and actual results or developments may differ materially from ‎‎those in the forward-looking statements. Investors should not place undue reliance on forward-‎looking ‎statements.‎

Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements ‎contained in this news release are made as of the date of this news release, and Jericho does not ‎undertake to update any forward-looking statements that are contained or referenced herein, ‎except as required by applicable securities laws‎.

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.

¹ Future Market Insights, “District Heating Market Outlook (2023 to 2033),”by Nikhil Kaitwade, Analyst, January 2023

SOURCE: Jericho Energy Ventures, Inc.



View the original press release on accesswire.com

Categories
Base Metals Energy Junior Mining Oil & Gas

US Coal Miner Peabody Targets World Steel Market With Anglo Deal

(Bloomberg) — With US demand for coal waning, Peabody Energy Corp. has struck a deal to shift its focus on targeting growth in the global steel market.

Peabody, the biggest US coal miner, agreed to pay as much as $3.78 billion for four mines in Australia that supply metallurgical coal — a key ingredient in steelmaking. The agreement with Anglo American Plc, announced Monday, will help Peabody almost triple its met coal output within two years, putting the St. Louis company on pace to be the world’s third-biggest exporter.

“This is a significant change,” Chief Financial Officer Mark Spurbeck said Monday during a call with analysts. “This transaction will reshape Peabody.”

Peabody shares slipped as much as 6.6% Monday, the biggest intraday decline since Aug. 5.

Peabody is a major supplier of thermal coal to fuel power plants, though the company has been seeking to shift its mix in recent years as utilities burn less of the dirtiest fossil fuel. Steel production is also a major source of planet-warming emissions, but it’s critical for most major infrastructure projects and demand is expected to climb.

The Anglo transaction means about 74% Peabody’s earnings are expected to come from international shipments of met coal, up from 50% now, according to the CFO.

It’s also notable that the mines Peabody is acquiring are in Australia, close to the rapidly growing economies of Asia. Peabody had pursued another deal for Australian assets in 2022, but no transaction was completed. The company expects this deal to close in mid-2025 and it will be accretive almost immediately.

The deal comes amid signs of a rebound in Chinese steel production, but Peabody will likely be delivering more met coal “everywhere” in Asia, according to Andy Blumenfeld, director of data analytics at McCloskey by Opis. India, Japan and emerging economies in Southeast Asia will all be clamoring for shipments.

“They need the steel,” Blumenfeld said. “It’s critical for growing any economy.”

Source: https://finance.yahoo.com/news/us-coal-miner-peabody-targets-185255567.html

Categories
Gold Shore Resources Junior Mining Precious Metals

Goldshore Awards Contracts for Resource Expansion & Discovery Focused Winter Exploration Programs

  • Diamond drilling program focused on expanding the mineral resource estimate within the conceptual open pit. Program will focus on the top 200 meters from surface by increasing drill density with the goal of extending known mineralization toward the surface to reduce the overall strip ratio and add to the ounce profile of the Moss Gold Project.
  • Discovery focused geophysical and geochemical program aims to define drill targets along 23 kms of prospective structural corridors that have not been systematically explored.

Vancouver, British Columbia–(Newsfile Corp. – November 25, 2024) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce it has awarded its resource expansion diamond drill program and its top of bedrock sonic drilling program to Laframboise Drilling Inc. and Forages Technic-Eau Inc., respectively. In parallel, the Company announces it has awarded the geophysical program to Abitibi Geophysics.

Michael Henrichsen, CEO of Goldshore commented, “We are very pleased to have awarded the contracts for our winter resource expansion and discovery-based exploration programs. The resource expansion targets we have identified have the potential to deliver ounces within the top 200 meters from surface, within the conceptual open pit, and could improve the economic performance of the deposit, building on the forthcoming Preliminary Economic Assessment (“PEA”) scheduled for release in Q1 2025. In addition, the first systematic discovery-based geophysical and top of bedrock sonic drill programs will give the Company the opportunity to develop robust drill targets that we feel will ultimately lead to a discovery and the uncovering of additional ounces at the project.”

Resource Expansion Drilling

The in-pit diamond drill program consists of approximately 15,000 meters of drilling focused on the top 200 meters from surface (Figure 1) with the goal of expanding the current mineral resource estimate (“MRE”) and reducing the strip ratio of the deposit through the following three avenues.

  • Strategic infill to increase drill density in locations where mineralized drill intercepts are currently too widely spaced to be included in the inferred mineral resource category;
  • Extending known mineralized shear zones laterally along strike; and
  • Extending mineralized shear zones intersected at depth at the Moss Gold Project towards surface where no shallow drilling has occurred.

Figure 1: Illustrates the upcoming 15,000 meter drill program within the conceptual open pit associated with the current MRE. This drill program is targeting resource expansion within the top 200 m from surface.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/231252_10d61f91b47929d1_002full.jpg


Discovery Focused Exploration Program

The discovery focused exploration program is designed to define robust drill targets along 23 kilometers of prospective structural corridors in the area of the Moss Gold Project. This focus area has not seen systematic exploration due to extensive till and muskeg that cover the prospect structural corridors.

The sonic drill program will sample the top of bedrock over the prospective structural corridors on 50 to 100 meter centers along 400 and 800 meter spaced lines to define areas of gold mineralization (Figure 2). The program will consist of up to 200 drill holes along the Moss Gold Project extensions and 12 kilometer long Kawa trend.

The geophysical program will consist of a 40 line-kilometer pole-dipole survey over the Moss Gold Project and a 235 line-kilometer gradient array survey with select IP pole-dipole lines planned across the 23 kilometers of prospective structural corridors (Figure 3). These surveys will allow the Company to obtain the resistivity and chargeability signature of the Moss Gold Project which has never been the subject to modern ground based geophysical surveys, and to look for similar geophysical responses in the 23 kilometers of prospective structural corridors.

Figure 2: Focus area for top of bedrock sonic drill program along the prospective mineralized structural corridors. Drill holes will be spaced 50 to 100 meters apart on 400 or 800 meters spaced lines.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/231252_10d61f91b47929d1_003full.jpg

Figure 3: Focus area for ground based induced polarization geophysics surveys across the Moss Gold Project and prospective mineralized structural corridors.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/231252_10d61f91b47929d1_004full.jpg


Qualified Person

Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“), has approved the scientific and technical information contained in this news release.

About Goldshore

Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 MRE, dated March 20, 2024 and prepared by Apex Geoscience Ltd., has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for fast track through this development cycle.

For more information, please visit the Company’s SEDAR+ profile at (www.sedarplus.ca) and the Company’s website (www.goldshoreresources.com).

For More Information – Please Contact:

Michael Henrichsen
President, Chief Executive Officer and Director
Goldshore Resources Inc.
E: mhenrichsen@goldshoreresources.com
W: www.goldshoreresources.com

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 release.

Cautionary Note Regarding Forward-Looking Statements

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 the Company’s actual results, performance or achievements, or developments 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.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, potential mineral resource expansion drill targets, timing and completion of a mineral resource expansion drill program, the impact of an expansion drill program on reducing the strip ratio, the targeted increase in the ounce profile of the Moss Gold Project, and the release of an updated PEA and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the foregoing exploration and development goals of the Company may not occur on the timetable anticipated or at all; the PEA may not be completed on the timetable expected or at all; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; risks related to compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance. The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release, including that the Company’s business and financial position and general economic conditions will not be adversely affected; that the expansion drill program will be completed and on the timetable expected; and that the PEA will be completed on the timetable anticipated.

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. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231252

Categories
Base Metals Junior Mining Precious Metals

Gold surges and euro sags as broader war risks rise

A passerby walks past an electric monitor displaying recent movements of various stock prices outside a bank in Tokyo · Reuters

Tom Westbrook

Thu, November 21, 2024 at 9:29 PM EST 3 min read

By Tom Westbrook

SINGAPORE (Reuters) – Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.

The risk of escalation also sent European gas prices to a one-year high and pushed investors towards safe havens, underpinning German debt and putting the Swiss franc on course for its first weekly rise in two months.

In Asia on Friday, chipmakers led stocks a little higher after Nvidia touched a record high in U.S. trade on solid earnings, with shares in Taiwan and South Korea up more than 1% and the Nikkei gaining 0.8%.

Gold was steady at $2,677 an ounce and up more than 4.5% for the week so far while bitcoin, stood on the brink of breaking above $100,000 for the first time.

Assets linked to Adani Group companies remained under pressure, with dollar bonds nursing losses following chairman Gautam Adani’s indictment for fraud by U.S. prosecutors.

Russia on Tuesday lowered its threshold for using nuclear weapons and overnight responded to the U.S. and UK allowing Kyiv to strike Russian territory with western weapons by firing a hypersonic intermediate-range missile at Ukraine’s Dnipro.

“Those weapons typically carry nuclear warheads,” said analysts at ANZ Bank, noting the attack sent oil prices higher.

“The exchange indicates the war has entered a new phase, raising concerns around disruptions to supply.”

Brent crude futures are up nearly 4.5% on the week and edged up to touch a two-week high of $74.44 a barrel in Asia trade.

The euro has been friendless and down for seven of the past eight weeks as Europe faces U.S. tariffs, slowing growth, the collapse of Germany’s government and strains in France’s government over its 2025 budget.

“There doesn’t seem to be anything on the plus side of the euro ledger just at the moment,” said National Australia Bank’s head of FX research, Ray Attrill.

At $1.0469 the common currency is close to breaking support at last year’s low of $1.0448. European stocks are also headed for a fifth weekly drop in a row, while world stocks are up 1% this week.

The dollar index eyed a weekly gain of 0.4% and traded at 107.05. S&P 500 futures were flat. Benchmark 10-year Treasury yields held at 4.432%, more or less steady on the week.

Markets imply about a 58% chance of a Fed cut, down from 83% a week earlier.

Data in Japan showed core inflation held above the central bank’s 2% target in October, keeping pressure for a rate rise. Markets are pricing about a 57% chance of a 25 basis point Bank of Japan rate hike in December and the prospect has injected some volatility and even support for the yen.

The yen, down 4% this quarter, was trading firmer at 154.38 per dollar in morning trade.

“Together with speculation about (finance ministry) intervention, I think selling on upticks on dollar/yen is quite decent,” said Keita Matsumoto, head of financial institution sales and solutions at Citigroup Global Markets Japan in Tokyo.

“Our investor clients and corporate clients are rather sellers of dollar/yen close to 155.”

(Editing by Shri Navaratnam)

Source: https://finance.yahoo.com/news/gold-surges-euro-sags-broader-022920767.html

Categories
Base Metals Energy Junior Mining Oil & Gas

Jericho Energy Ventures’ Hydrogen Technologies Secures U.S. Department of Energy Funding for California-Based Project

PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / November 19, 2024 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that a California-based project co-developed by its wholly owned subsidiary, Hydrogen Technologies (“HT“), has been awarded USD$1 million in funding from the U.S. Department of Energy’s Hydrogen and Fuel Cell Technologies Office (HTFO).

The project, Hydrogen Permitting Issues and Improvements (HPII), was developed by HT and three partners: Sandia National LaboratoriesGHD (a global professional services company with expertise in hydrogen infrastructure), and the University of California at Riverside. The team will identify and address challenges with the deployment of hydrogen-powered equipment (e.g., steam/hot water boilers, fuel cells and fork-lifts) at locations where hydrogen is likely to play a role but is currently an unfamiliar fuel, such as at manufacturing facilities or district heating systems.

HT will receive a share of the total funding for its part in engaging current and potential users of hydrogen-fueled boilers, their permitting authorities, community and environmental organizations.

The HPII project will identify and address technological and administrative barriers to permitting hydrogen projects. The project focuses on providing state-of-the-art safety and risk analysis for select use-cases and real-world data on at-scale issues and concerns to improve integration into existing industrial infrastructure. The project includes a strong community engagement strategy where local representatives from disadvantaged communities are engaged early in the process to identify challenges and mitigation measures to ensure success.

Brian Williamson, CEO of Jericho Energy Ventures, commented: “We are proud to be part of this important DOE-funded project with our esteemed partners. We see the independent launch of our Hydrogen Solution Platform accelerating our access to future collaborations and partnerships with groups pushing full steam ahead with lower emissions industrial and commercial solutions. Beyond delivering our patented, zero-emission hydrogen DCC boiler technology, we are increasingly being recognized as a trusted, innovative hydrogen solutions partner to industry and government.”

HT is collaborating with several multi-national corporations and universities to complete feasibility studies for the utilization of our zero-emission hydrogen boiler technology. HT is presently working with its manufacturing partner, Superior Boiler, to deploy its boiler technology at a prominent Western US university while providing decarbonized district heat for its campus.

Hydrogen Technologies’ GHG-free hydrogen-fueled boilers offer a highly efficient and sustainable alternative to conventional fossil fuel-based boilers. DCC™ boilers eliminate greenhouse gas emissions, providing a clean and eco-friendly source of steam and hot water for various industries and applications. HT’s DCC™ system is a recipient of the Solar Impulse Foundation’s prestigious “Solar Impulse Efficient Solution” award recognizing profitable solutions to protect the environment.

JEV recently announced plans to spinout its hydrogen platform from its traditional energy assets as a separate, pure-play H2 solutions company to maximize shareholder value.

The Company also announces that it has arranged a shares for debt transaction to settle an aggregate of $376,071 in interest accrued on convertible debentures outstanding up to November 12, 2024 and disclosed in the Company’s financial statements and in the Company’s news releases dated January 7, 2022 and April 5, 2024. The shares for debt settlement is subject to approval from the TSX Venture Exchange (“TSXV“), pursuant to TSXV Policy 4.3 – Shares for Debt, which will be followed by the Company issuing an aggregate of 2,892,846 common shares (the “Settlement Shares“) at a deemed price of $0.13 to 14 of the holders of the debentures of which two are non-arm’s length parties to the Company. The Settlement Shares will be issued subject to prospectus exemptions available pursuant to Canadian securities laws and will be subject to a four month and one day hold period.

The shares for debt transaction was approved by the Company’s board of directors and did not require a formal valuation nor minority shareholder approval pursuant to Multilateral Instrument 61-101.

About Hydrogen Technologies

Hydrogen Technologies (HT) offers its award-winning CLEAN, ZERO-EMISSION ENERGY SOLUTION for the Commercial and Industrial Boiler Market. There are a wide range of applications for our cleanH2steam DCC™ boiler, which works much like traditional commercial heat, hot water and industrial steam boilers. Whether the application is district heating, food processing, chemical refining, pharmaceuticals, pulp and paper mills, or any other industrial process, HT has a reliable, efficient and clean solution for your GHG and ESG goals.

Website: www.hydrogentechnologiesllc.com
X: https://x.com/h2_technologies
LinkedIn: https://www.linkedin.com/company/hydrogen-technologies-inc/

HT CONTACT:
Dean Moretton, Chief Commercial Officer
Hydrogen Technologies
Email: sales@hydrogentechnologiesllc.com

About Jericho Energy Ventures

Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.

Website: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures

JEV CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Dir. of Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
Email: investorrelations@jerichoenergyventures.com

This news release contains certain “forward-looking information” and “forward-looking ‎statements” (collectively, “forward-looking statements“) within the meaning of applicable ‎securities laws. Such forward-looking statements are not representative of historical facts or ‎information or current condition, but instead represent only Jericho’s beliefs regarding future ‎events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of ‎Jericho’s control. Forward-looking statements are frequently characterized by words such as ‎‎”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, ‎or statements that certain events or conditions “may”, “will” or “may not” occur.‎ Specifically, this ‎news release contains forward-looking statements relating to, among others, the successful specific grant funding application and approvals by the DOE. Selection for award negotiations is not a commitment by DOE to issue an award or provide funding.

Forward-looking statements are subject to a variety of risks and uncertainties and other factors ‎that could cause actual events or results to differ materially from those anticipated in the forward-‎looking statements, which include, but are not limited to: regulatory changes; changes to the ‎definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other ‎infectious diseases; general economic conditions; industry conditions; current and future ‎commodity prices and price volatility; significant and ongoing stock market volatility; currency and ‎interest rate fluctuation; governmental regulation of the energy industry, including environmental ‎regulation; geological, technical and drilling problems; unanticipated operating events; the ‎availability of capital on acceptable terms; the need to obtain required approvals from regulatory ‎authorities; liabilities and risks inherent in oil and gas exploration, development and production ‎operations; liabilities and risks inherent in early stage hydrogen technology projects, energy ‎storage, carbon capture and new energy systems; changes in government environmental ‎objectives or plans; and the other factors described in Jericho’s public filings available at ‎www.sedarplus.ca.

The forward-looking statements contained herein are based on certain key expectations and ‎‎assumptions ‎of Jericho ‎concerning anticipated financial performance, business prospects, ‎strategies, ‎regulatory regimes, the ‎‎sufficiency of budgeted capital expenditures in carrying out ‎planned activities, the ability to obtain financing on ‎acceptable terms, expansion of consumer ‎adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of ‎investments, all of which are ‎subject to change based on ‎market conditions, ‎potential timing delays ‎and other risk factors. Although Jericho believes that these assumptions and the expectations ‎are ‎reasonable based on information currently available to management, such ‎statements are not ‎guarantees of future performance and actual results or developments may differ materially from ‎‎those in the forward-looking statements. Investors should not place undue reliance on forward-‎looking ‎statements.‎

Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements ‎contained in this news release are made as of the date of this news release, and Jericho does not ‎undertake to update any forward-looking statements that are contained or referenced herein, ‎except as required by applicable securities laws‎.

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.

SOURCE: Jericho Energy Ventures, Inc.

Categories
Base Metals Energy Junior Mining Oil & Gas

Jericho Energy Ventures Announces Plan to Separate Hydrogen Platform from Traditional Energy Assets to Maximize Shareholder Value

TULSA, OK and VANCOUVER, BC / ACCESSWIRE / November 4, 2024 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that its Board of Directors has approved Management’s plan to separate Jericho’s hydrogen solutions platform (the “Spinout Transaction”) into a new entity to be named Hydrogen Technologies Corporation (“HTC”), subject to certain conditions including receipt of necessary regulatory and shareholder approvals.

Assuming completion of the Spinout Transaction on the terms contemplated by management, each JEV shareholder will retain their shares of Jericho and, in consideration of the transfer of JEV’s hydrogen assets to HTC, will receive shares of HTC (a newly formed BC-based reporting issuer) on a pro rata basis. The definitive terms of the Spinout Transaction are expected to be contained in a management information circular delivered to shareholders in connection with the meeting to approve the Spinout Transaction.

The purpose of the proposed Spinout Transaction is to create two independent specialized energy companies, with a clear focus on leadership in their respective markets. This move will allow both businesses to operate with distinct strategies, tailored capital structures, and focused investment plans, aiming to deliver superior outcomes for stakeholders.

While management intends to move forward with implementation of the Spinout Transaction on a priority basis, definitive terms of the Spinout Transaction, including the final determination to submit a proposal to shareholders, is subject to ongoing review by management and the Board of Directors. The Spinout Transaction is also subject to approval of the TSX Venture Exchange (“TSXV”), approval of the Jericho shareholders and will be subject to approval of the British Columbia courts if effected by way of plan of arrangement. Shareholder approval may be sought at the Company’s Annual General Meeting (“AGM”), scheduled for January 15, 2025 or at a subsequent meeting held for the purpose of such approval.

After the separation, Jericho Energy Ventures would continue to trade on the TSX Venture Exchange under the symbol JEV, representing its oil and gas business.

Brian Williamson, CEO of Jericho Energy Ventures, stated, “By separating our hydrogen platform, we can create two agile, focused companies. This will allow each to pursue its strategic objectives independently and position them for long-term growth and success. We believe JEV shareholders will benefit from the distinct growth opportunities in both the hydrogen and oil & gas sectors, with each company committed to maximizing value within its industry.”

About Jericho Energy Ventures

Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world’s first, high pressure, ultra-efficient electrolyzer). Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.

Website: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures

JEV CONTACT:
Allen Wilson, Director, or
Adam Rabiner, Dir. of Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
Email: investorrelations@jerichoenergyventures.com

This news release contains certain “forward-looking information” and “forward-looking ‎statements” (collectively, “forward-looking statements“) within the meaning of applicable ‎securities laws. Such forward-looking statements are not representative of historical facts or ‎information or current condition, but instead represent only Jericho’s beliefs regarding future ‎events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of ‎Jericho’s control. Forward-looking statements are frequently characterized by words such as ‎‎”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, ‎or statements that certain events or conditions “may”, “will” or “may not” occur.‎ Specifically, this ‎news release contains forward-looking statements relating to implementation of the Spinout Transaction and receipt of necessary approvals.

Forward-looking statements are subject to a variety of risks and uncertainties and other factors ‎that could cause actual events or results to differ materially from those anticipated in the forward-‎looking statements, which include, but are not limited to: regulatory changes; changes to the ‎definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other ‎infectious diseases; general economic conditions; industry conditions; current and future ‎commodity prices and price volatility; significant and ongoing stock market volatility; currency and ‎interest rate fluctuation; governmental regulation of the energy industry, including environmental ‎regulation; geological, technical and drilling problems; unanticipated operating events; the ‎availability of capital on acceptable terms; the need to obtain required approvals from regulatory ‎authorities; liabilities and risks inherent in oil and gas exploration, development and production ‎operations; liabilities and risks inherent in early stage hydrogen technology projects, energy ‎storage, carbon capture and new energy systems; changes in government environmental ‎objectives or plans; and the other factors described in Jericho’s public filings available at ‎www.sedarplus.ca.

The forward-looking statements contained herein are based on certain key expectations and ‎‎assumptions ‎of Jericho ‎concerning anticipated financial performance, business prospects, ‎strategies, ‎regulatory regimes, the ‎‎sufficiency of budgeted capital expenditures in carrying out ‎planned activities, the ability to obtain financing on ‎acceptable terms, expansion of consumer ‎adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of ‎investments, all of which are ‎subject to change based on ‎market conditions, ‎potential timing delays ‎and other risk factors. Although Jericho believes that these assumptions and the expectations ‎are ‎reasonable based on information currently available to management, such ‎statements are not ‎guarantees of future performance and actual results or developments may differ materially from ‎‎those in the forward-looking statements. Investors should not place undue reliance on forward-‎looking ‎statements.‎

Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements ‎contained in this news release are made as of the date of this news release, and Jericho does not ‎undertake to update any forward-looking statements that are contained or referenced herein, ‎except as required by applicable securities laws‎.

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.

SOURCE: Jericho Energy Ventures, Inc.



View the original press release on accesswire.com

Categories
Junior Mining Precious Metals

Rare silver coin struck before the American Revolution sets auction record, selling for $2.52 million

One side of the coin is stamped with NE to signify it was made in New England. 
Stack’s Bowers Galleries

An American silver coin dating back to the 17th century, before the United States was founded, has sold for a record-breaking $2.52 million at auction, eight years after it was discovered in an old cabinet in Amsterdam.

The threepence coin was struck in 1652 in Boston just weeks after the first mint in the then-British colony had opened, according to a statement released Monday by Stack’s Bowers Galleries, which handled the sale.

Although the coin is only about the size of a nickel and has a silver value of just $1.03 on today’s market, its age and ties to American history have made it the most expensive non-gold US coin struck before the founding of the United States Mint, the auction house added.

When this coin was found in 2016 in an old cabinet in the Netherlands, its owner was unsure of its historical significance for it was in a pasteboard box that simply said “Silver token unknown/ From Quincy Family/B. Ma. Dec, 1798.”

It was only after extensive research, testing, analysis and comparison with another surviving specimen that its true value was identified and subsequently verified by the PCGS, an independent body that grades rare coins.

When the note attached to the coin was written in 1798, coins made at the Boston Mint in 1652 had already become a prized possession for collectors.

Distinguishable by their simple NE stamp representing New England on one side, and their value in pence in Roman numerals on the other, these coins were already extremely rare since it’s likely they were only made in this style for a few months that year.

This was a threepence coin, as shown by the Roman numerals on one side of it.

This was a threepence coin, as shown by the Roman numerals on one side of it. Stack’s Bowers Galleries

The Boston Mint had defied the British crown’s authority to produce coins, representing New England’s “growing sense of identity as separate from the mother country and its determination to regulate its own economy,” according to the Massachusetts Historical Society.

After the American Revolution, the coins it had produced became vogue even in England.

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English collector Thomas Brand Hollis wrote to then-American ambassador to the Netherlands John Adams in 1781 asking for help in sourcing one of these coins. In turn, Adams wrote to ask his wife, Abigail, for help since her great-grandfather had been the stepbrother of John Hull, the silversmith who minted these coins.

Just one other threepence coin of this type is known to have survived to the present day and it is in the collection of the Massachusetts Historical Society, making this specimen the only one available to private collectors. Another coin is perhaps still in existence after it was stolen from Yale College sometime before the 1960s, although its whereabouts is unknown.

This coin was subject to an intense, 12-minute bidding battle that auctioneer Ben Orooji called “an exhilarating ride and a career highlight,” as it fetched more than three times its presale estimates.

Other historic US coins have fetched vast sums at auction too. A rare 1794 silver dollar believed to be one of the first – if not the first – made by the US mint sold for $10 million in 2013.

Meanwhile, a rare 1933 “Double Eagle” coin, one of the last gold coins ever struck for circulation in the US, sold for $18.9 million in 2021.

Source: https://www.cnn.com/2024/11/19/style/rare-us-silver-coin-auction-record-intl-scli/index.html

Categories
Junior Mining Precious Metals

Emperor Metals Reports Positive Metallurgical Results from Initial Testing on the Duquesne West Gold Deposit

Vancouver, British Columbia–(Newsfile Corp. – November 19, 2024) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to share initial metallurgical testing results from drilling intercepts in the 2023 drilling program. The drill core samples were collected from the Duquesne West Project, located on Highway 393, just 20 km north of Rouyn, Quebec, in a Tier 1 district.

Highlights:

  • Initial metallurgical testing commenced in 2024 and focused on both the replacement style mineralization and low-grade bulk tonnage style mineralization within the Quartz-Feldspar Porphyry (QFP). A total of 5 composites were gathered, by collecting 87 original drill core composites thorough key mineralized zones. These composites comprised approximately 73.4 metres of drill core with a combined weight of 168 kilograms.
  • Weighted average gold extraction ranged from 90 to 100% in the Replacement Style Mineralization.
  • Average of all samples was 90%. This average included a sample within the low-grade QFP related mineralization of 76% recovery; probably due to its nugget effect in the interval tested.
  • Deleterious elements that consume both cyanide and oxygen are not present in quantities to be an issue for future metallurgical processes.

CEO John Florek commented: “We are quickly building confidence that Duquesne West has key attributes for successful future extraction. As we continue to explore, expand, and discover the full potential of this deposit, we are very encouraged about our upcoming mineral resource estimate expected in Q1 of 2025.”

Process
The cyanide leach process monitors gold extraction efficiencies in metallurgical applications.

These initial results were produced by SGS Laboratory using an accelerated cyanide leach techniques to determine bulk leachable gold in our exploration samples using modified cyanide leach (Leachwell™). This Leachwell™ tab product method is a proprietary and patented process. The large sample is mixed with water and Leachwell™ tabs and tumbled.

This test work confirmed that the mineralization from Duquesne West can be processed using conventional gravity separation and carbon-in-leach (CIL) technology.”

Results

The replacement-style ore in DQ23-01, 02, and 05 showed very consistent recovery (over 90% with an average of 92%). This result aligns with the typical characteristics of this type of mineralization, which is known for its good homogeneity over several meters, both visually and chemically.

Quartz Feldspar Porphyry (QFP) related mineralization recovery varied, ranging from 76% to 100%. The variability is likely due to lower-grade gold values and the nuggetty nature of gold in this rock type. Larger sample sizes would be needed to better account for this variability. Despite the variability, the average recovery for the samples submitted to the lab was a reasonable 88%.

We are also very encouraged about low values of potentially detrimental elements in the mineralization, which consume oxygen and cyanide during metallurgical recovery. Figure 1 shows the low values of Copper (Cu) and Arsenic (As) in a representative drill-hole which encountered both the replacement style mineralization and the quartz-feldspar porphyry related mineralization.

By having low concentrations of these potentially harmful elements, the deposit becomes more favorable for efficient and cost-effective processing, with reduced need for expensive treatments or additional steps to manage these issues. This often results in a more straightforward, cleaner, and economically viable extraction process.

Samples (Hole ID)CN (Au ppm)Fire Assay
(Au ppm)
Thickness (m)Recovery
RDQ23-015.125.6311.791%
RDQ23-023.583.9710.6590%
QDQ23-021.211.592776%
RDQ23-0514.8715.8510.894%
QDQ23-093.763.7513.2100%
R: Replacement Style Mineralization
Q: Quartz Feldspar Porphyry Related Mineralization

Table 1: Results of the bulk leachable gold using modified cyanide (CN) leach vs Fire Assay to determine recovery.

Figure 1: Graph displays low levels of Copper (Cu) and Arsenic (As) values. These are element that are detrimental to oxygen and cyanide consumption during cyanide extraction processes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/230547_e9b586b7143b897d_001full.jpg

Replacement Style Mineralization:
The high-grade replacement-style mineralization achieved an average recovery of 92%.

This result was observed in DQ23-01, 02, and 05, with mineralization displaying:

  • Complete replacement by quartz-ankerite-sericite-pyrite.
  • Partial replacement in breccia zones.

The uniformity of both grade and thickness over the intervals makes this type of mineralization highly suitable for mining scenarios.

Images 1 to 3 illustrate these zones.

Quartz Feldspar Porphyry Related Mineralization
DQ23-02 and DQ23-09 represent a Quartz Feldspar Porphyry (QFP) related style of mineralization.

This style of mineralization achieved an average recovery of 88%, but recovery ranged from 76% to 100%.

The mineralized QFP is characterized by sericite and quartz alteration, with sulfide disseminations in the host rock and quartz veins in higher-grade portions. Gold occurs in both the altered host rock and the quartz veins. This mineralization style is broad and pervasive compared to others.

The mineralization discussed is lower grade compared to Replacement-Style Mineralization but equally important as the high-grade mineralization characterized by offering several key points:

  1. Economic Significance: Despite the lower grade, it’s equally important for mining economics. Its broad intervals, such as a 25-meter section grading 1.7 grams per tonne (g/t) of gold (Au), contribute to the overall value. Image 4 shows this intercept (press release September 12, 2023).
  2. Operational Benefits: This type of broad mineralization can reduce stripping ratios, which are the amounts of non-valuable material that must be removed to access the mineralized ore.
  3. Added Value: It adds previously overlooked, incremental ounces to the deposit, enhancing the project’s viability.

Image 1: Replacement Style Mineralization, DQ23-01 recovery was 91% from 11.7 m of 5.6 g/t Au

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/230547_e9b586b7143b897d_002full.jpg

Image 2: Replacement Style Mineralization, DQ23-02 recovery was 90% from 10.65 m of 4.0 g/t Au (Includes 5.0 m of 5.3 g/t Au)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/230547_e9b586b7143b897d_003full.jpg

Image 3: Partial Replacement Style Mineralization, DQ23-05 recovery was 94% from 10.8 m of 15.9 g/t Au.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/230547_e9b586b7143b897d_004full.jpg

Image 4: Quartz-Feldspar Porphyry Related Mineralization, DQ23-02 recovery was 76% from 25.0 m of 1.7 g/t Au.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/230547_e9b586b7143b897d_005full.jpg

Image 5: Quartz-Feldspar Porphyry Related Mineralization, DQ23-09 recovery was 100% from 13.2 m of 3.8 g/t Au.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8461/230547_e9b586b7143b897d_006full.jpg

Program Objectives

The 2024 season is a multifaceted program designed to test several scenarios to add ounces and/or expand the footprint:

  1. Explore Lower Grade Discoveries: Target additional discoveries within the host rock containing high-grade gold lenses, focusing on the conceptual open-pit model.
  2. Increase the Thickness of the High-Grade Lenses: Incorporate previously unaccounted lower-grade gold from the margins of high-grade lenses to enhance their overall thickness.
  3. Expand Mineralized Zones: Extend the lateral footprint of mineralized zones along strike and dip.
  4. Discover New Zones: Explore potential new zones not yet included in the Conceptual Open Pit Model, with a particular focus on eastward expansion.

Emperor Metals is positioned to significantly expand its resource base with drill testing. A mineral resource update is scheduled for Q1 of 2025, reflecting the results of the ongoing exploration program.

Quality Assurance and Control

The Quality Assurance and Quality Control (QAQC) was conducted by Technominex, a geological contractor hired by Emperor Metals, which adheres to CIM Best Practices Guidelines for exploration related activities conducted at its facility in Rouyn Noranda, Quebec. The QA/QC procedures are overseen by a Qualified Person on site.

Emperor Metals QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and lab duplicates within the sample stream totaling approximately one QA/QC sample per 7 samples. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags with appropriate tags and shipped to the SGS Sudbury laboratory and the other half retained on site in the original core box. A dispatch list consists of 88 or 176 samples along with their corresponding QA/QC samples for a single batch. This allows complete batches (88 samples) for fire assay. A file for sample tracking records tags used and weights of sample bags shipped to the SGS Lakefield. Shipment is done by Manitoulin Transport and coordination by Technominex staff in Rouyn-Noranda.

The third-party laboratory, SGS prep laboratory in Sudbury Ontario, processes the shipment of samples using standard sample preparation (code PRP91) and produces pulps from the specified samples. The pulps are then sent off to SGS Burnaby for analysis. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility all the way to analysis at the SGS Burnaby B.C. laboratory.

Analytical testing is performed by SGS laboratories in Burnaby, British Columbia. The entire sample is crushed to 75% passing 2mm, with a split of 500g pulverized to 85% passing 75 microns. Samples are then analyzed using Au – ore grade 50g Fire Assay, ICP-AES with reporting limits of 0.01 -100 part per million (ppm). High grade gold analysis based on the presence of visible gold or a fire assay result exceeding 100 ppm, are analyzed by Au – metallic screening, 1kg screened to 106μm, 50g fire assay, gravimetric, AAS or ICP-AES of entire plus fraction and duplicate analysis of minus fraction. Reporting limit 0.01ppm.

About the Duquesne West Gold Project

The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet, Quebec, Canada. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.

Under an Option Agreement, Emperor agreed to acquire a 100% interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property”) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. (GMX-TSX). For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated Oct. 12, 2022, available on SEDAR.

The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au.1,2 The mineral resource estimate predates modern Canadian Institute of Mining and Metallurgy (CIM) guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.

A reinterpretation of the existing geological model was created using AI and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.

Multiple scenarios exist to expand additional resources which include:

  1. Underground High-Grade Gold.
  2. Open Pit Bulk Tonnage Gold.
  3. Underground Bulk Tonnage Gold.

Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct. 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada, for XMet Inc.

Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent CIM standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.

Grant of Options

Subject to regulatory approval, the Company has granted 2.4 million options to its directors, officers and consultants, exercisable for five years at a price of $0.10.

QP Disclosure

The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR (www.sedar.com), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Florek”

John Florek, M.Sc., P.Geol
President, CEO and Director
Emperor Metals Inc.

Contact:

John Florek
President/CEO
(807) 228-3531
johnf@emperormetals.com

Alex Horsley
Director
(778) 323-3058
alexh@emperormetals.com
www.emperormetals.com

The Canadian Securities Exchange has not approved nor disapproved the content of this press release.

Cautionary Note Regarding Forward-Looking Statements

Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the company and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates,” “believes,” “targets,” “estimates,” “plans,” “expects,” “may,” “will,” “could” or “would.”

Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230547