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NEW YORK, June 28, 2022 (GLOBE NEWSWIRE) — OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Collective Mining Ltd (TSX-V: CNL; OTCQX: CNLMF), an exploration and development company focused on identifying and exploring prospective mineral projects in South America, has qualified to trade on the OTCQX® Best Market. Collective Mining Ltd upgraded to OTCQX from the Pink® market.
Collective Mining Ltd begins trading today on OTCQX under the symbol “CNLMF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors. For companies listed on a qualified international exchange, streamlined market standards enable them to utilize their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
“We are pleased to reach the milestone of trading on OTCQX, as this will make it easier for our U.S. employees and investors to invest in Collective Mining by reducing the requirement of having a Canadian trading account,” said Ari Sussman, Executive Chairman of Collective.
Nauth LPC acted as the company’s OTCQX sponsor.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%253B1580500%253B1480989%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%253B1580500%253B1480989%2522%252C%2522wiki_topics%2522%253A%2522OTC_Markets_Group%253BRegulated_market%253BZijin_Mining%253BUnited_States%253BSouth_America%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%2522701730ec-86cd-3dbe-9f98-d54d4e55d5c7%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
About Collective Mining Ltd
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations)
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX® Best Market, OTCQB® Venture Market and Pink® Open Market.
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This release corrects and replaces the release disseminated June 23, 2022 at 9:40am ET. The release contained incorrect numbers in the table. Please see the full corrected release below.
VANCOUVER, BC / ACCESSWIRE / June 23, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“).
RooGold is pleased to report that it has undertaken a preliminary rock chip sampling program at its 100% held Arthurs Seat Project Exploration Licence (EL) 9144 in the highly prospective New England Orogen in New South Wales, Australia.
Highlights
- Successful landowner negotiations and access agreement established over key prospects at Arthurs Seat including McDonalds, Coxs and Murrays Mine.
- A total of 274 rock chip samples were collected at historical prospects and along structural and geological contacts.
- Significant hydrothermal alteration identified with multiple generations of mineralised quartz veins visible.
- Visible silver-antimony mineralisation in quartz veins observed at Murrays and Co Mine and McDonalds Prospect.
- Assay results received to date from 159 samples indicate widespread, low-level mineralisation along greisen altered granite – metasediment contacts and confirms the presence of a large hydrothermal mineral system.
- 115 assays are still pending from other key prospects.
Carlos Espinosa, Chief Executive Officer and a Director of RooGold commented, “RooGold has completed a successful, first pass rock chip sampling program at the Arthurs Seat Project, New South Wales. Preliminary assay results have been received and confirm low-level, widespread silver-antinomy geochemical anomalism within the project. Our field geologists have identified multiple sets of quartz veins at key prospects containing silver-antimony minerals and we look forward to receiving further assay results in the near term.”https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522wiki_topics%2522%253A%2522Arthurs_Seat%252C_Victoria%253BHunter-Bowen_orogeny%253BSampling_(music)%253BCarlos_Espinosa%253BProject_Exploration%253BSouth_Wales%253BSampling_(statistics)%253BMetasedimentary_rock%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%2522a87ff96a-bc83-3bf2-816f-97067f19d564%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Arthurs Seat Project
The Arthurs Seat Project, comprised of Exploration License 9144 (“EL 9144”), is approximately 42 km² in area and is located in the northwestern region of the New England Orogen. The New England Orogen comprises island-arc and continental-arc gold-silver mineralized belts, which host extensive intrusion related polymetallic deposits. In the Southern New England Orogen, where Roo Golds projects are based, include the historic Conrad Silver Mine which produced approximately 3.5Moz Ag1, Webbs Silver deposit that contains JORC (2012) Mineral Resource Estimate Indicated and Inferred of 2.2Mt at 205 g/t Ag2 and the Hillgrove Au-Sb-W Mine with historic production of 720koz Au3.
The Arthurs Seat project is centered on the regional Severn Thrust Fault and mineralized granitic/sandstone contact. The property includes 3 historical silver, tungsten and antimony mines and prospects. Mineralization is found in white quartz and tourmaline veins cutting the greisen altered granite – meta- sedimentary contact zone. This contact spans over 15 km strike length within the concession, historically mined for silver and tin ore. The contact target and associated mines remain unexplored in the subsurface since mining ended in 1890.
Elevated gold grades observed at the Cox gold/silver prospect are interpreted as related with the hanging wall of the deep-seated Severn Thrust Fault – potentially representing a robust 7 km long underexplored secondary target (Figure 1 and Figure 2).
The Murray and Co Mine is located on the western boundary of EL 9144 and was mined in the late 1890’s including the development of underground adits and shafts driven into silver and tin rich quartz and tourmaline veins, which intrude metasediments along the greisen altered granite contact, (Figure 3). Historical sampling of mullock heaps at the prospect returned grades of 1,085 g/t Ag and 1,400 ppm Sb (source: Magnum Exploration NL, GS1971/217).
Rock Chip Sampling Program
Two field trips were undertaken with a total of 274 rock chip samples collected at the Arthurs Seat Project (EL 9144) to confirm the results of historical sampling. Initial sampling focused on the Arthurs Seat historical prospect that is defined by the contact between the Permian Graman Monzogranite of the S-type Bundarra Supersuite and the metasediments of the Carboniferous Texas Beds of the Central Block.
Of the 159 rock chip samples, 154 samples returned anomalous silver showing low-level, widespread silver mineralisation across the sampling area ranging from 0.01 ppm Ag to 4.0 ppm Ag, see Figure 1 and Figure 2. The highest grade results were concentrated in the greisen altered granite hosting quartz veins at Arthurs Seat. The highest assay result received was 3.99 ppm Ag, 8,210 ppm As, 4.93 ppm Sb. 3.80 ppm W and 223 ppm Bi (Sample Number R00148) from a greisen altered granite with iron-oxide filled vugs after sulfides. The highest gold result returned was 0.11 ppm Au, 5.03% As, 165 ppm Bi, 2.36 ppm Ag from a highly sheared mafic rock (Sample Number R00147).
Table 1: Significant assay results from rock chip sampling program (>0.98 ppm Ag) from (R00059 – R00241) Arthurs Seat prospect, EL 9144.
| Lithology | Sample ID | Easting MGA 94 | Northing MGA94 | RL | Au ppm | Ag ppm | As ppm | Bi ppm | Sb ppm | W ppm |
| Granite | R00148 | 311523 | 6747639 | 536 | <0.01 | 3.99 | 8210 | 223 | 4.93 | 3.80 |
| Qtz vein in granite | R00193 | 312030 | 6747383 | 497 | <0.01 | 3.98 | 67.9 | 49 | 1.11 | 4.70 |
| Qtz Vein | R00156 | 311519 | 6747646 | 536 | <0.01 | 3.90 | 31600 | 559 | 7.39 | 2.70 |
| Qtz Vein | R00161 | 311528 | 6747646 | 534 | 0.01 | 2.58 | 10500 | 213 | 12.7 | 1.40 |
| Mafic / skarn mineralisation (?) | R00147 | 311522 | 6747636 | 536 | 0.11 | 2.36 | 50300 | 165 | 69.1 | 0.80 |
| Greisen / Granite | R00187 | 311632 | 6747384 | 529 | <0.01 | 2.34 | 2180 | 75.4 | 2.37 | 2.20 |
| Qtz Vein | R00159 | 311522 | 6747641 | 536 | 0.01 | 2.18 | 14000 | 176 | 15.4 | 0.60 |
| Granite | R00150 | 311522 | 6747640 | 536 | <0.01 | 1.70 | 3700 | 219 | 2.81 | 3.50 |
| Qtz Vein | R00162 | 311528 | 6747646 | 534 | 0.02 | 1.22 | 33400 | 39.2 | 67.2 | 1.30 |
| Qtz Vein | R00164 | 311536 | 6747649 | 533 | 0.04 | 1.05 | 25800 | 54.3 | 39.6 | 1.10 |
| Qtz Vein | R00158 | 311524 | 6747642 | 535 | <0.01 | 0.99 | 5660 | 98.9 | 7.24 | 0.90 |
| Qtz Vein | R00152 | 311524 | 6747640 | 536 | <0.01 | 0.98 | 23200 | 309 | 7.48 | 0.30 |
The location of the rock chip samples and current assay results are indicated below in Figures 1 and 2.
The Murray and Co mine was mapped as a subvertical, E-W trending zone of silicified ferruginous metasediments in contact with silica flooded quartz veins in greisenised granite. A 1 m zone of fine, brecciated, smokey, and gossanous quartz veins carrying stibnite, arsenopyrite, and pyrite was observed. Significant silica, sericite, and chlorite alteration of metasedimentary host rocks confirm the presence of a hydrothermal mineralizing system, Figure 4. Multiple generations of quartz veins were observed with primary, coarse bucky quartz, and secondary fine, smokey quartz veins carrying stibnite, arsenopyrite, and pyrite mineralisation.
The McDonalds North prospect was mapped as an E-W trending zone of fine (1-3 mm) gossanous and stibnite-silver bearing quartz veins within a highly silicified metasediment host rock, Figure 5. Sub-horizontal bedding contained minor sulfides along the bedding plane. McDonalds South prospect is faulted and juxtaposed against a quartz-eye porphyry dyke containing arsenopyrite and pyrite intruded into strongly silica flooded metasediments. A number of E-W sinistral faults were mapped and represent possible conduits for the deposition of mineralizing fluids, Figure 6.
The remaining 115 samples collected at Murrays and Co Mine and McDonalds prospects have assay results pending from the laboratory.
Quality Assurance and Quality Control (QAQC) and Assay Procedures
A minimum of 3 kg per rock chip sample collected in sealed calico bags by the RooGold field team. Five calicos containing rock chips placed in a green plastic bag and each zip tied to ensure security. A total of 34 green bags were placed on heavy duty pallet, wrapped in heavy duty plastic wrap to ensure security and sent to ALS Geochemistry Labs (ALS) in Perth, Australia for assay testing. ALS is independent of RooGold and is certified to international quality standards through ISO/IEC 17025:2017 including ISO 9001:2015 and ISO 9002 specifications.
At ALS, rock chips underwent coarse crushing before fine crushing to 70% less than 2mm then riffle split off 1kg, followed by a pulverise split to better than 85% passing <75μm. Gold was measured by Fire Assay of 50g sample and AAS finish. Samples were also tested using a ME-ICP61 for 33 element suite by 4 acid digest, HCl leach and ICP-AES. Field blanks were inserted every 25 samples. Certified gold and base metal reference standards (CRM’s) were inserted every 13 samples. Assay results from certified standards received from the laboratory are required to be within 3σ from their Certified Reference Value. RooGold noted no issues with the CRM results, which met acceptable values.
Data Verification
Alexandra Bonner has verified all scientific and technical data disclosed in this news release including the rock chip locations, sampling procedures, and analytical data underlying the technical information disclosed. Specifically, Alexandra Bonner reviewed the original certified assay results from ALS and verified the assay summary table produced for these rock chip samples. Alexandra Bonner noted no errors or omissions during the data verification process. RooGold and Alexandra Bonner do not recognize any significant factors of sampling or recovery that could materially affect the accuracy or reliability of the rock chip assay data disclosed in this news release.
Qualified Person Statement
The scientific and technical information contained in this news release has been prepared and approved by Alexandra Bonner, Vice President of Exploration, who is a Qualified Person as defined in NI 43-101.
About RooGold Inc.
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 14 high-grade potential gold (10) and silver (4) concessions covering 2,696 km2 which have 139 historic mines and prospects.
For further information please contact:
Carlos Espinosa, CEO
cespinosa@roogoldinc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”,”expect”, “project”, “intend”,”believe”, “anticipate”, “estimate” and other similarwords, or statements that certain eventsor conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
1https://www.thomsonresources.com.au/projects/webbs-and-conrad-silver-projects-new-south-wales/
2 Thomson Resources (ASX: TMZ), 9 June 2022
3 The Hillgrove Gold-Antimony-Tungsten District, NSW, Australia B. Hooper, P. Ashley and P. Shields
SOURCE: RooGold Inc.
View source version on accesswire.com:
https://www.accesswire.com/706453/CORRECTION-RooGold-Completes-Rock-Chip-Sampling-at-Arthurs-Seat-Silver-Antimony-Project-New-South-Wales
Whoa! Joining us for an action packed interview is the legendary Bob Moriarty the founder of http://www.321gold.com/, as we will cover a lot of ground in this interview! Topics ranging from Market Conditions, Bitcoin, the Colorado River, Junior Mining Companies, and Precious Metals. This is an absolute must watch!
Lion One Metals: https://liononemetals.com/
Irving Resources: https://irvresources.com/
Labrador Gold: https://labradorgold.com/
Interview: https://provenandprobable.com/labrador-gold-discovers-54-17-gpt-at-big-vein-on-kingsway-gold-project/
Roogold: https://roogoldinc.com/
Interview: https://provenandprobable.com/roogold-positioned-to-be-the-next-dominant-player-in-the-new-south-whales/
Dolly Varden Silver: https://www.dollyvardensilver.com/
Interview: https://provenandprobable.com/dolly-varden-silver-3-rigs-30000-meter-drill-program-on-the-kitsault-valley-project/
Provenance Gold: https://www.provenancegold.com/
Interview: https://provenandprobable.com/provenance-gold-has-2-gold-projects-that-offer-a-tremendous-opportunity-for-savvy-gold-investors/
Eloro Resources: https://elororesources.com/
Vancouver, British Columbia–(Newsfile Corp. – June 22, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) has acquired ownership of 7,924,106 common shares (representing 7.25% of the outstanding shares) of Norra Metals Corp. (TSXV: NORA) of Vancouver, BC. The acquisition was made pursuant to a property sale agreement with Norra executed in December 2018.
Prior to the acquisition, EMX owned 5,771,000 common shares (representing 5.69% of Norra’s outstanding common shares). EMX now has ownership of and control over 13,695,106 common shares of Norra (representing 12.53% of Norra’s outstanding common shares).
The shares were acquired on June 15, 2022, under the prospectus exemption set out in section 2.13 [Petroleum, natural gas and mining properties] of National Instrument 45-106 Prospectus Exemptions of the Canadian Securities Administrators.
Presently, EMX does not have any intention of acquiring any further securities of Norra.
EMX will file an Early Warning Report with the British Columbia and Alberta Securities Commissions in respect of the acquisition. Copies of the Report may be obtained from SEDAR (www.sedar.com) or without charge from EMX’s Corporate Secretary, Rocio Echegaray (604-688-6390).
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com
Isabel Belger
Investor Relations (Europe) Phone: +49 178 4909039
IBelger@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
VANCOUVER, BC / ACCESSWIRE / June 22, 2022 / (CSE:ROO) (OTC:JNCCF) (Frankfurt: 5VHA) -RooGold Inc. (“RooGold” or the “Company“) is pleased to announce that at its shareholder meeting (“Meeting”) on June 21, 2022, shareholders approved the re-appointment of Carlos Espinosa, Michael Singer and Michael Mulberry to the Board of Directors of the Company. Shareholders also approved, subject to final TSX Venture Exchange (“Exchange”) acceptance, the adoption of a new “rolling up to 10%” stock option plan (“Stock Option Plan”), as disclosed in detail in the Meeting materials, that complies with Policy 4.4 of the Exchange. The maximum aggregate common shares that are issuable pursuant to the Stock Option Plan is 10% of the issued common shares of the Company (“Listed Shares”), a maximum of 10% of issued Listed Shares are issuable to insiders (as a group) in any 12 month period, a maximum of 5% of issued Listed Shares may be granted or issued pursuant to the Stock Option Plan to any one person, a maximum of 2% of issued Listed Shares may be granted or issued pursuant to the Stock Option Plan to any one Consultant or Investor Relations Service Provider. The Company currently has 72,559,950 common shares (“Listed Shares”) issued and outstanding and accordingly, there are 7,255,995 Listed Shares issuable pursuant to the Stock Option Plan.
Immediately following the Meeting, the Directors approved the re-appointment of Carlos Espinosa as Chief Executive Officer & President, Remantra (Anup) Sheopaul as Chief Financial Officer & Corporate Secretary, and Alexandra Bonner as Vice-President Exploration.
About RooGold Inc.
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.
For further information please contact:
Ryan Bilodeau
T: 416-910-1440
info@roogoldinc.comhttps://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522TSX_Venture_Exchange%253BCarlos_Espinosa%253BMichael_Alan_Singer%253BCommon_stock%253BOption_(finance)%253BCompany%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%2522e63c698f-523e-31a9-9fff-1811d59a59a7%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
VANCOUVER, British Columbia, June 20, 2022 (GLOBE NEWSWIRE) — Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) (“Irving” or the “Company”) reports that the investment agreement (the “Investment Agreement”) entered into between Irving and Newmont Corporation (“Newmont”) in April 2019, as amended (please refer to the Company’s news releases dated April 23, 2019, February 20, 2020 and April 12, 2021), has been further amended such that the next private placement which Newmont has the right to require the Company to undertake is now in the maximum amount of US$4,400,000 (the “2022 Newmont Placement”). In addition, Newmont has the right to require the Company to undertake a further private placement in the amount of US$6,000,000.
Irving also reports that Newmont has given notice of exercise of its right to proceed with the 2022 Newmont Placement. These funds will be raised by the issuance of common shares of the Company (“Common Shares”) at a price equal to the volume-weighted average trading price for the 30 trading days immediately preceding the date on which Newmont delivered its exercise notice. The funds from the 2022 Newmont Placement will be allocated as to 70% towards exploration on Irving’s Omu project in Hokkaido, Japan and 30% towards the alliance formed between Irving and an affiliate of Newmont to identify and, if designated by Newmont’s affiliate, jointly exploit mineral exploration opportunities throughout Japan.
Irving also intends to concurrently undertake a non-brokered private placement of units (the “Concurrent Placement”) to raise up to C$3,000,000 by the issuance of units (“Units”) at a price of C$1.00 per Unit. Each Unit will consist of one Common Share and one-half of one Common Share purchase warrant, each whole Warrant entitling the holder to purchase one Common Share at a price of C$1.60 for a period of three years. It is expected that the Concurrent Placement will close concurrently with the 2022 Newmont Placement. The funds from the Concurrent Placement will be allocated towards exploration on the Company’s mineral resource projects and general working capital.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
Akiko Levinson,
President, CEO & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 971-0209
info@IRVresources.com
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation including, without limitation, statements as to the expected completion of the 2022 Newmont Placement and the Concurrent Placement and the use of the proceeds therefrom. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, the interest of investors in the Concurrent Placement as well as customary risks of the mineral resource exploration industry.
This news release does not constitute an offer for sale, or a solicitation of an offer to buy, in the United States or to any “U.S. Person” (as such term is defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “1933 Act”)) of any securities of Irving. The securities of Irving have not been, and will not be, registered under the 1933 Act or under any state securities laws and may not be offered or sold in the United States or to a U.S. Person absent registration under the 1933 Act and applicable state securities laws or an applicable exemption therefrom.
Figure 1:
Figure 2:
Figure 3:
Figure 4:
TORONTO, June 22, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (“Collective” or the “Company”) is excited to announce the discovery of a new high-grade copper-gold-silver porphyry-related breccia at the Guayabales project, located in Caldas, Colombia. APC-1, which is the first ever diamond drill hole to test the Apollo target (“Apollo”), was collared approximately 600 metres southeast of the previously announced Olympus discovery hole that assayed 302 metres @ 1.11 g/t gold equivalent (see release dated March 15, 2022). Apollo is one of eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration. As part of its fully funded 20,000 metre drill program for 2022, there are currently three diamond drill rigs operating at Guayabales, with two turning at Apollo and one turning at the Trap target.
| Highlights (See Figures 1 – 4) | ||||
| • | APC-1, intercepted the mineralized breccia from 291.6 metres downhole (170 metres vertical) with results as follows: | |||
| • | 87.8 metres @ 2.49 g/t AuEq including: | |||
| 10.9 metres @ 4.55 g/t AuEq from 291.6 metres down hole; and | ||||
| 14.3 metres @ 3.67 g/t AuEq from 352 metres down hole | ||||
| • | Mineralization is remarkably continuous along the axis of the discovery intercept and is hosted within a breccia sulphide matrix consisting of chalcopyrite (Cu) and pyrite. Additionally, overprinting carbonate base metal porphyry veins flood the breccia matrix in various locations along the mineralized interval in APC-1 with visible sphalerite (Zn) and Galena (Pb) observed. The breccia clasts are all quartz diorite in composition and this hydrothermal system is clearly linked to a porphyry system. | |||
| • | APC-1 was drilled to the south from Pad 1 on the northern fringe of an 800 metre X 700 metre target area as defined by rock sampling, soil geochemistry and geology mapping. Apollo remains open to the east, west, south and at depth for further expansion. Due to the size of the target area at Apollo, the Company has completed the construction of two additional drill pads. Drill holes APC-1W and APC-2 have already been completed with APC-3 and APC-4 currently underway. Future assay results for Apollo will be reported in batch format once received and interpreted by the Company. | |||
| • | The Apollo target area consists of newly generated porphyry and porphyry related targets with coincidental high-grade copper and molybdenum soil anomalies in places measuring greater than 500 parts per million (“ppm”) in copper and 30 ppm in molybdenum. Additionally, surface sampling at Apollo has uncovered a series of high-grade gold outcrops with numerous rock samples assaying greater than 3 g/t gold. | |||
| • | Apollo is road accessible all year-round and is situated within an elevation range of 1,800 to 2,000 metres above sea level. Additionally, an electrical substation is located less than one kilometre from the target area. | |||
| “The discovery at Apollo opens a new and very exciting front for the Company. Firstly, it is the first time that the Company has discovered a significant amount of copper. Secondly, large mineralized systems generally have multiple styles of overprinting mineralization and in the case of Apollo, we have already observed three different mineralization types, namely two types of porphyry related CBM veins and of course the mineralized breccia. Our technical team also believes that the Apollo discovery may be the first in a series of porphyry and breccia discoveries at the Apollo target,” commented Ari Sussman, Executive Chairman. “With a second rig recently commissioned and now coring, we have made the decision to soon add a third rig to the program in order to aggressively unlock the potential value of this discovery.” |
Table 1: Assays Results
| HoleID | From (m) | To (m) | Intercept (m)** | Au (g/t) | Ag (g/t) | Cu % | Zn % | Pb % | Mo % | AuEq (g/t)* |
| APC-1 | 291.60 | 379.40 | 87.80 | 0.88 | 61 | 0.39 | 0.07 | 0.05 | 0.001 | 2.49 |
| Incl | 291.60 | 302.50 | 10.90 | 1.03 | 156 | 0.58 | 0.34 | 0.26 | 0.001 | 4.55 |
| and | 352.00 | 366.30 | 14.30 | 2.41 | 28 | 0.50 | 0.02 | 0.00 | 0.001 | 3.67 |
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95) + (Cu (%) x 2.06 x 0.95) + (Mo (%) x 6.86 x 0.95+(Zn(%)x 0.80 x 0.95)+ (Pb(%)x 0.45 x 0.95) utilizing metal prices of Cu – US$4.50/lb, Mo – US$15.00/lb, Zn – US$1.75/lb, Pb – US$1.0/lb, Ag – $21/oz and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Cu, Mo, Zn and Mo. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.4 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown, and grades are uncut.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253BMultiview_orthographic_projection%253BPorphyry_(geology)%253BApollo%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%252217662b79-0a3d-3672-b481-a63f394d6cd3%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
Figure 2: Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
Figure 3: Plan View of the Hydrothermal Breccia Discovery Made at Apollo
Figure 4: Apollo Target Cross Section N-S With APC-1 and Related Core Photos Highlighted
About Collective Mining Ltd.
To see our latest corporate presentation, please visit www.collectivemining.com
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. Collective currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 28, 2022 for AuEq calculations)
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Contact Information
Collective Mining Ltd.
Steve Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Photos accompanying this announcement are available at:
VANCOUVER, British Columbia, June 21, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that it has entered into a Loan Agreement with Redplug Capital Corporation. The loan is in the amount of $500,000 and will be used for general working capital. Millrock intends to repay the loan within the coming year by 1) liquidation of shares that it holds in other companies, 2) sale of royalty interests, and/or 3) from proceeds that may be realized on sale or purchase agreements concerning Millrock mineral exploration projects. The term of the loan is one year. Interest for the first six months of the loan is 6.0% per annum and thereafter at 12.0% per annum. Additionally, Millrock will pay the Redplug Capital Corporation 2,000,000 bonus shares of the Company upon acceptance of the TSX Venture Exchange.
Millrock President & CEO, Gregory Beischer, commented: “Millrock has found itself in a tight financial position at a time when market conditions limit our ability to raise further operating funds. In any event, an equity financing at the current share price would be highly dilutive to existing shareholders. At the same time, Millrock has many catalysts that have potential to drive the Company’s share price higher. More than 18,000 metres of drilling has been planned and budgeted at several projects in which Millrock has an interest. All the funds for these drilling programs come from partner companies. Additionally, Millrock is closing in on option agreements on other projects that could bring more cash into the company treasury. Shareholders that have invested in Millrock over the past few years have looked forward to the big year of drilling underway in 2022. Millrock has determined that it is best not to incur excessive dilution by equity financing at this particular juncture. The less dilutive loan transaction will allow operations to continue in the short term. Potential asset sales will cover longer term needs while results of ongoing drilling programs unfold. We are hopeful that results of the drilling programs will make an equity financing under more favourable and less dilutive terms later in 2022 possible. We think all the drilling programs have a good chance at making gold discoveries.”
Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
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Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention of partner companies to complete all the planned drilling they have indicated, the sale of Millrock assets, that Millrock has many catalysts that have potential to drive the Company’s share price higher, that Millrock is closing in on option agreements on other projects that could bring more cash into the company treasury, that potential asset sales will cover longer term needs, that all the drilling programs have a good chance at making gold discoveries, and the possibility of share price increase upon receipt of future drilling results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Millrock’s management’s discussion and analysis for the three-month period ended March 31, 2022, which is available under Millrock’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Millrock assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Millrock updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.