Metallic Minerals Corp. (TSX-V: MMG / US OTC: MMNGF) is a growth stage exploration company focused on the acquisition and development of high-grade silver and gold projects within underexplored districts proven to produce top-tier assets. Our objective is to create value through a disciplined, systematic approach to exploration, reducing investment risk and maximizing probability of long-term success. Our core Keno Silver Project is located in the historic Keno Hill Silver District of Canada’s Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world’s highest-grade silver resources. The Company’s La Plata silver-gold-copper project is located in the high-grade La Plata district of the prolific Colorado Mineral Belt and our McKay Hill project northeast of Keno Hill is a high-grade historic silver-gold producer. Metallic Minerals is also building a portfolio of gold royalties in the historic Klondike Gold District. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.
Russia causes a dramatic change in the global diamond market
Mountain Province Diamonds- a top-tier company with significant scale
Diamcor Mining- A junior diamond miner with potential
A potential bottom in DMI/DMIFF shares
A diamond is a pure solid form of the element carbon with its atoms arranged in a crystal structure, a diamond cubic. At room temperature and pressure, another solid form of carbon is graphite, a chemically stable form of the element. Diamonds form under high temperatures and pressure that cause the carbon atoms to bond and form crystals.
It takes carbon up to 650 million years to become fossil fuels. Transforming carbon into a diamond takes one to 3.3 billion years, approximately 25% to 75% of the earth’s age.
Diamonds occur in greater number and quality in the ocean, but the extraction process is expensive and challenging. Ocean miners dredge the ocean floor, bring the material onto mining ships, and sift it for diamonds. Mining diamonds from the earth’s crust involves releasing igneous emplace rocks with explosives as the encased diamonds are carried up with intrusive rocks from the earth’s mantle. Most diamond mines are around one hundred miles below the earth’s surface.
Rough diamonds look like shiny pebbles. Experts cut and polish the rocks that become the centerpiece of jewelry cherished worldwide. Only 20-30% of mined diamonds have a suitable quality for jewelry; the remainder goes to industrial applications. The industrial diamonds are too badly flawed, irregularly shaped, poorly colored, or too small for gems. However, they are critical for cutting, grinding, drilling, and polishing procedures because of a diamond’s hardness and heat conductivity.
The first Soviet leader, Vladimir Lenin, once said, “There are decades where nothing happens, and there are weeks where decades happen.”
The international diamond business is experiencing that phenomenon in early 2022, courtesy of his successor.
Russia is the leading producer- Canada is third Like many commodities, diamond production occurs in regions where the earth contains minable reserves.
The chart highlights that Russia has the largest diamond reserves with approximately 650 million carats, over double the country with the second-most reserves, Botswana. While diamonds are synonymous with South Africa, the nation is home to the fourth leading reserves behind Russia, Botswana, and the Democratic Republic of Congo. While the DR Congo has the third most reserves, Canada is the third-leading diamond-producing country.
As the chart illustrates, in 2020, Canada produced 17.2% of the worlds’ diamonds.
Russia causes a dramatic change in the global diamond market
On February 24, 2022, the world changed as the Russian military invaded Ukraine. President Vladimir Putin does not consider Ukraine a country but a part of Western Europe. Meanwhile, the watershed event occurred on February 4, 2022, when President Putin and Chinese President Xi signed a $117 billion trade agreement and shook hands on “no-limits” support. The Chinese-Russian alliance paved the way for Russia’s invasion of the country that the US, Europe, Canada, Australia, Japan, and allies worldwide consider a sovereign country in Eastern Europe. Russian success in Ukraine could pave the way for China’s reunification with Taiwan.
Sanctions on Russia leading to retaliatory measures are likely to choke off commodity supplies to the west. Russia is a leading producer and exporter of diamonds, oil, nickel, wheat, fertilizer, and a host of other raw materials.
The geopolitical landscape has deteriorated to the most dangerous level since World War II. War, sanctions, and trade embargos distort market prices, impacting the global supply chain and creating fundamental supply and demand imbalances. The dark cloud of war and tensions between Russia-China and the West may have a diamond lining for companies producing commodities to fill the gaps created by supply shortages and rising prices.
On February 24, the diamond market underwent a substantial change.
Mountain Province Diamonds- a top-tier company with significant scale
The DeBeers Group controls companies in the diamond mining, diamond processing, and diamond trading sectors. Still, it is the second-leading diamond company behind Alrosa, the Russian mining giant that distributed 38.5 million carats in 2021. De Beers distributed 30.78 million carats.
When most people think of diamonds, De Beers is the brand name that glistens like the stones. De Beers has been around since 1888 with South African roots. Today, the company calls London home, with the mining giant Anglo American (NGLOY)owning 85%. While price transparency in the diamond market can be opaque, prices have appreciated.
The price index rose from 204.20 in July 2020 to 230.30 in March 2022, a 12.8% increase.
Mountain Province Diamonds is a Canadian diamond producer that operates a joint venture with De Beers, owning the world’s fifth-largest diamond mine, Gahcho Kue, in Canada’s Northwest Territories. Mountain Province Diamonds also owns 100% of the Kennady North Project and explores for diamonds in the Northwest Territories through targeted drill programs with 13.6 million carat reserves and inferred resources of 7.35 million carats ten kilometers from the Gahcho Kue mine. A summary of some of the company’s other highlights includes:
The highest-grade diamonds in the De Beers portfolio at 1.55 carats per ton of reserves.
The second most favorable mining jurisdiction in Canada.
A commitment to sustainability through environmental stewardship.
Exploration territory of 107,000 hectares of 100% owned claims/leases surrounding Gahcho Kue.
Mountain Province Diamonds traded on the TSX in Canadian dollars under MPVD.TO. The company trades in the over-the-counter market in the US under the symbol MPVDF.
Source: Barchart
As the chart highlights, MPVDF shares fell to a low of 17.41 cents in March 2020 as the global pandemic gripped markets across all asset classes. The stock has moved higher with diamond prices and production success, making higher lows and higher highs with the price at 62.83 cents on March 16, over 3.6 times higher than the March 2020 low.
Diamcor Mining- A junior diamond miner with potential
Diamcor Mining Inc. is a junior diamond mining company that identifies, acquires, and operates unique projects with “near-term production potential.”
While many people think of De Beers synonymously with diamonds, the other name that comes to mind is Tiffany & Company. Diamcor established a long-term strategic alliance and the first right of refusal with Tiffany & Co, Canada, a subsidiary of Tiffany & Co in the US, for the purchase of up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at current market prices. Tiffany & Co. provides financing for the project. Diamcor acquired the Krone-Endora at Venetia project from DeBeers. The mine is co-located directly adjacent to the De Beers Venetia Diamond Mine in the Limpopo province of the Republic of South Africa. The project is a rare eluvial deposit, a direct shift of material from the higher grounds of the Venetia Kimberlite clusters onto the lower surrounding areas of Krone-Endora. The property is approximately 500 kilometers north-northeast of Johannesburg. The Venetia mine is the world’s third-largest diamond mine and South Africa’s leading mining, accounting for over 50% of annual production.
Some of Diamcor’s highlights include:
Accelerated phase two of a three-phase processing upgrade to increase volumes as the demand for rough diamonds has continued to be robust.
Diamcor’s most recent rough diamond sale yielded an average price of over $300 per carat, a 60% increase from the December 2021 price.
The project has revenue flows with demonstrated profitability.
The project has $70 million in development to date with significant infrastructure in place and a 30-year mining right.
A high percentage of the project’s diamonds are gem quality and can be found just 50 feet below surface.
Diamond reserves are likely on 95% of the project area that has not been defined, leading to significant growth potential.
US and European sanctions will limit the number of industrial and gem-quality diamond flows from Russia, pushing prices higher and availability lower. The world will be looking for new sources, and Diamcor’s project is far enough along and positioned to meet the increasing demand.
A potential bottom in DMI/DMIFF shares Diamcor Mining Inc trades on the TSX under the symbol DMI.VN. On the Us over-the-counter market, the symbol is DMIFF. The shares have moved appreciably higher since the late 2020 low.
Source: Barchart
As the chart highlights, DMIFF shares rose from a low of $0.046 in late December 2020 to $0.2425 on March 16, over five times higher. In October 2021, the shares peaked at 43.0 cents, over nine times higher than the late 2020 low. DMIFF returned a higher percentage gain than Mountain Province Diamonds (MPVDF) since its 2020 low.
It takes over a billion years for a diamond to form, making the stones a forever asset. Meanwhile, sanctions on Russia will limit the precious stones supplies, which could create an exciting opportunity for Diamcor, a mining company with lots of upside potential.
Written By: Andrew Hecht, on behalf of Maurice Jackson of Proven and Probable.
Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.
You would tend to think that after as many false flag operations as the US has behind them, they would start getting better at it. But no, they are just as bad at it as they have ever been.
The whole Ukraine fiasco was created out of whole cloth by the US and the Neocons on behalf of Soros, the Davos gang, Bill Gates and Klaus Schwab. The Rand corporation planned it three years ago.
Zelensky has been playing sock puppet for Nato for years. He’s good at it; he is after all an actor. And while the Russians have been kicking the shit out of the Ukrainians, Zelensky doesn’t care how many of his countrymen die. The latest false flag is the massacre of civilians in Bucha. Zelensky thinks the world is so stupid that they will take his word for the war crimes without investigation. Alas, the murders took place after the Russians left and after the Nazis moved back in. Clearly the world needs to investigate the activities of the Nazis who have been committing war crimes going all the way back to the US sponsored coup in 2014.
In 2014 someone encouraged snipers to go to the top of tall buildings and shoot anyone they wanted, both protestors and police. But if you think about it, the protestors wouldn’t shoot protestors. Likewise the police wouldn’t shoot the police. But Victoria Nuland wanted international attention to the terrible nature of the legally elected government of the country so she told her Nazi friends to shoot at both sides.
She understood that the international community wouldn’t get into an uproar unless something terrible happened. She told the Nazis that the world would pay attention only when a hundred or more of the people in the square were killed. So the Nazis killed exactly one hundred and we got our regime change. Thanks Victoria, the world owes you for your contribution. I do hope you live long enough to make it to the war crimes trials to be held after your tiny little WW III ends.
Putin put Russia and the world back on a gold standard on March 28th. Russia understands it. Clearly they planned it. But the world is still clueless. The EU has a simple choice. They can remain a lap dog for an out of control US or they can wake up and smell the roses.
When I say out of control, Biden vetoed the Keystone Pipeline and is refusing to allow new drilling on Federal ground. At the same time he has approached both Venezuela and Iran and begged them for fuel. And no doubt the actions of Putin in trying to defend Russian borders has him utterly confused, after all two million illegal immigrants have entered the US in the last year.
In 2009 Quinton Hennigh and I went to Tanzania to visit a gold project I had there. We chatted about a lot of things including how a gold standard should be administered. Quinton came up with a set of coins in both gold and silver that we felt should be the form of exchange.
I’m told that some $4.2 trillion a day is traded in the foreign exchange markets. If every country went to a gold standard based on grams rather than Dollars or Rubles or Pounds billions of dollars in fees could be saved.
China obviously is part of Russia’s new gold standard. It is taking the rest of the world longer to wake up. Germany canceled the Nord Stream 2 pipeline in a fit of pique to teach Russia a lesson. Evidentially they are going to punish Russia by shutting down the German economy. Just a couple of days ago the EU announced a ban on Potash from either Russia or Belarus. If Germany can be brave enough to be willing to shut down their economy in support of the most corrupt country in Europe, in an act of solidarity the EU is willing to let their members starve.
I do hope aliens do not exist. In spite of a lot of evidence that suggests they do exist, I just want to hope they don’t. Looking at the “leaders” of this world would convince any half smart alien that this world is an insane asylum.
VANCOUVER, BC / ACCESSWIRE / April 7, 2022 / Sandy MacDougall, CEO of Noram Lithium Corp. (“Noram” or the “Company“) (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to report that the Company has completed hole CVZ-72 (PH-06) on its Zeus lithium clay deposit in Nevada to a total depth of 428ft (130.5m). Visual inspection of the core confirmed that clays previously shown to be high in lithium grades appeared near surface and extended down to a depth of 400ft (121.9m) for a total drilled intersection of 323ft (98.4m).
Figure 1 – Two boxes of core from CVZ-72. The box on the left is from depths of 253-261.5ft (77.1-79.7m) and shows some of the black, highly reduced mudstone/claystone. The box on the right is from 288.5-298ft (87.9-90.8m) and is typical of the somewhat less reduced blue mudstone/claystone. From past drilling experience, both lithologic units are usually high in lithium content.
Figure 2 – Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1 currently underway. Phase VI holes are indicated in purple.
“We are incredibly pleased with the results from CVZ-72 albeit not surprised. Drill hole CVZ-72 was completed at 428ft (130.5m) and had predictably encouraging lithologies. Past programs have shown this to be highly mineralized material. This is exactly what one would like to see with infill drilling. Figure 3 below shows a cross section with CVZ-72 and two adjacent, previously drilled holes. The blue, green, black and magenta layers in the figure indicate claystone layers that have been shown to host the higher lithium assays from past drilling as is shown by the histograms of lithium values on the two adjacent holes. The adjacent CVZ-68 was one of the better high-grade holes with a very thick clay intercept. The drill intercepts thus far continue to be very encouraging” commented Brad Peek M.Sc. CPG., VP of Exploration and Qualified Person for this and all 5 of the previous drilling phases of Noram’s Zeus lithium property.
Figure 3. Comparative lithology for drill holes CVZ-72 as compared to CVZ-53 and CVZ-68, which were drilled as part of the Phase IV and V programs. CVZ-53 and CVZ-68 had long intercepts of high grade lithium. All of the lithology units except the brown mudstones have relatively high lithium concentrations in previous drill holes on the property. The histogram on the sides of CVZ-53 and CVZ-68 are the 5m composited lithium grades in ppm Li. The section has a 4X vertical exaggeration.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%2522Nor-Am_Cup%253BLithium_carbonate%253BNevada%253BCompany%253BLithium%253BZeus%253BDrilling%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25226625f156-2f2a-3a3c-a183-387a2f813ed1%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
CVZ-72 is the second of the 12-hole Phase VI drilling program which is expected to upgrade approximately 175 million tonnes of the current 827 million tonne Inferred Resource to the Indicated category. Core samples from CVZ-72 have been shipped to ALS Laboratory in Reno, Nevada for assay processing on a “rush” basis. Assay results are pending.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company’s flagship asset is the Zeus Lithium Project (“Zeus”), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,250/tonne LCE.
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
TORONTO, April 05, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest assay results from diamond drilling that show high-grade intercepts in hole K-21-111 from Big Vein at its 100% controlled Kingsway project near Gander, Newfoundland. This hole was drilled as part of the Company’s ongoing 100,000 metre drill program targeting the 12km strike length of the Appleton Fault Zone at Kingsway. 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%2522HTC%253BTarget_Corporation%253BMetre%253BThe_Big_Vein%253BGold%253BFault_(geology)%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%2522afde1070-d71b-3d7d-ac19-4aa69a1b729b%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Hole K-21-111 was drilled to target down plunge mineralization in the high-grade HTC zone below the Big Vein Fault Zone. The hole intersected 6.07 g/t Au over 19 metres from 123 metres, the longest interval of gold yet found at Big Vein.
The HTC Zone remains open at depth and to the northeast and additional sample assays from 1,286 metres of drilling are pending from this zone. Drilling continues to target this high-grade zone at depth and along strike.
“The Big Vein target continues to deliver exceptional results as indicated by Hole K-21-111,“ said Roger Moss, President and CEO of the Company. “The mineralization intersected in the hole is part of a steeply plunging high-grade gold region within the northeast to north-trending HTC Zone. This target shows good vertical continuity and has now been defined to a depth of approximately 250m and remains open. Approximately 47% of samples submitted to the lab remain pending most of which are from Big Vein, including the HTC Zone. We look forward to receiving these results and expanding the Big Vein target along strike and at depth.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-21-111
123
142
19
6.07
HTC
including
130
136
6
15.17
including
131
133
2
35.09
Table 1. Summary of Assay Results All intersections are downhole length as there is insufficient Information to calculate true width.
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres subparallel to the Appleton fault zone. It is located approximately 200m from the Appleton fault zone, through which the gold-mineralizing fluids likely migrated. At Big Vein, gold mineralization is closely associated with a secondary structure, the Big Vein fault zone, that separates siltstone and sandstone hosting the Big Vein zone from the finer shale that hosts the HTC and HTC footwall zones.
Gold mineralization observed at Big Vein includes visible gold typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling. Drilling has produced high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite noted along vein margins and as strong disseminations in the surrounding wall rocks.
The ongoing 100,000 metre drill program has now tested Big Vein over approximately 250 metres of strike length and to vertical depths of 250 metres. A total of 37,393 metres of the planned 100,000 metres have been completed in 116 holes, primarily at Big Vein. Assays have been received for 53% of samples submitted to the laboratory.
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $28 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 155,354,110 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter @LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY)(“Riverside” or the “Company”) is pleased to announce that the Company has expanded its drilling program at the Oakes Project in Ontario, Canada. The Company initiated the program in March with a planned 1500 metres (“m”) of drilling and has now completed 1705 m across 12 drill holes. The drill program was designed to test IP geophysical anomalies that were defined through Riverside’s 2021 program and coincided with anomalous surface geochemical sampling completed by Riverside.
Drilling is now complete with logging, core cutting and sampling now underway. The Company has shipped the first three holes to ACT Labs in Thunder Bay for analysis and is expecting to have all core samples delivered to ACT Labs during April. Assay results are expected later in Q2, 2022 and will be released once reviewed and interpreted.
Observations from the core to this point is consistent with surface findings showing similar patterns of mineralization and lithologies from hole to hole along the HG Target, where the initial seven drill holes were focused (see Press Release March 3, 2022). The mineralized zone is described as a quartz-carbonate veining system characterized by disseminated to semi massive pyrite, pyrrhotite, chalcopyrite mineral assemblage (see Photo 1 below). These observations are similar to the mineralization noted in the previously completed sampling which returned anomalous values for gold.
Photo 1: Close-up pictures of drill core from hole 5 and semi-massive sulfides from hole 7.
Figure 2: Initial cross-section schematic sketch interpreted block diagram of the logged intercept in hole Oakes-22-05 from the 2022 RRI drilling campaign. Red lines correspond to the veining crosscut in the drilling.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6101/119254_167e054bf4f2c83d_003full.jpghttps://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%2522Ontario%253BTom%25C3%25A1%25C5%25A1_Hole%25C5%25A1%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522dc569072-7f8d-39c0-8f3b-476c41d2d19f%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Note: The above sketch is not to scale and does not include data from holes that have not been logged, final interpretations are subject to change.
Riverside’s President and CEO, John-Mark Staude: “We are delighted with the excellent contractors and team working with Riverside on our Oakes exploration campaign, completing the program safely and finding encouraging geology and sulfide zones. These first insights from our drilling program suggest we have intersected the likely source of the geophysics and are seeing shears and stringers that look similar to mineralized areas 20 km west at the Greenstone Mine and Geraldton Mining district. Samples are being processed and will be sent to the lab. Riverside’s team will be working on detailed logging of the split core and preparing the next stages for our exploration campaign.”
The simplified geological interpretation from the drilling to date suggests that sulfide mineralization (and possibly gold) is associated with shearing near or at the geological boundary between gabbroic sills and Archean-aged mafic volcanics comprising flows, tuffs and pillow basalts. Intercalated sediments and volcanics are also often mineralized and will be assayed to determine if gold is present. The expanded drill program has primarily tested only one target area (HG) plus two orientation drill holes into two other targets as is shown on the Company website: Click here.
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4.5M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
YERINGTON, Nev., April 04, 2022 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF)(FSE: ZYTA) (“Nevada Copper” or the “Company”) today announced positive operations advances at its Pumpkin Hollow Project (“the Project”), including record monthly production and continued expectation of up to 5kptd achieved in Q3 as planned, and previously guided.
“We are pleased with the progress continuing to show at Pumpkin Hollow at the underground mine, open pit project, and exploration initiatives”, stated Randy Buffington, CEO and President of Nevada Copper. “The team has done a remarkable job of continuing to safely advance the ramp-up in the key areas of development, stoping, and processing. We look forward to continuing this progress towards steady state production on schedule for later this year.”
March Operations Highlights
Underground Mine
Record Copper Production. In March, as the company continues to improve stoping rates, record copper production was achieved. 1,300dmt of copper concentrates were produced during the last 30 days from multiple stopes, including the high-grade Sugar Cube zone. The commissioning of the paste plant line, planned to be completed in April 2022, along with other operational improvements, is projected to facilitate quicker stope turnover leading to further increases in hoisting and production rates.
3ktpd Hoisting Achieved in March. Peak 7-day continuous hoisting rates reached 2,600 tpd in March, including achieving hoisting of 3ktpd earlier than anticipated which represents a significant production ramp-up progress milestone. Operational focus is on sustaining and increasing the 3ktpd rate in Q2, and the plan remains to reach a capacity of 4.5k to 5ktpd during Q3 2022 as previously announced.
Ramp-up Continues Positive Momentum. Q1 2022 development rates are a 32% quarter-on-quarter increase over Q4 2021. Q1 2022 hoisted ore tons are a 73% quarter-on quarter increase over Q4 2021. Stope ore tons hoisted are a 17% quarter-on-quarter increase over Q4 2021, continuing the trajectory of month-on-month increases over the past 6 months. Enhanced contractor management procedures and key performance indicators are in place to further increase productivity going forward and allow greater access to additional stopes.
Ventilation Infrastructure on site. All surface ventilation infrastructure arrived as planned in Q1 2022. The commissioning of the surface ventilation fans has been optimized to allow for the prioritization of ore development and is planned to be completed in Q2 in line with increased production.
Q2 Milestones to increase ore hoisting rates.
Completion of paste plant commissioning, enabling significantly faster stope cycles
Mining of additional high-grade ore zones
Construction of a third ore pass advanced, which when completed, enables a further increase in ore handling rates towards nameplate capacity
Sequentially higher month-on-month hoisted volumes and concentrate production
Completion of current dike heading to access further higher grade stopes
Previous Constraints Addressed. Most constraints encountered in Q4 2021 and early Q1 2022 have been resolved during Q1. The bolting fleet was refurbished, resulting in demonstrated increases in equipment availability; a damaged remote loader has been scheduled to be replaced shortly; lower contractor delivery was resolved and new KPIs agreed. While these items, plus higher property taxes, increased the cost of ramp-up execution beyond plan, the Company expects to obtain sufficient funds to address these additional costs, including the $15m accordion to its existing Credit Facility.
Open Pit Project
Drill Program has commenced. Drill rigs are scheduled to arrive to site in the coming weeks and drilling to commence this month. The initial focus of the program will be in-fill and extension drilling of the open pit, to follow up on the last drilling program which identified significant additional mineralization and indicated the orebody which remains open in multiple directions, extends beyond the original pit boundary. The drilling program will also provide updated geological information for advancing the fully permitted Open Pit Project into feasibility evaluation reflecting opportunities for increased scale, larger resource and other optimization workstreams. An updated prefeasibility study is expected in Q3 2022 to incorporate the higher copper price environment.
Solar Project Progress. The Company has continued to progress the planned feasibility studies for a potential solar project, with renewables consulting group Warm Springs Consulting.
Exploration
The Company continues to review and evaluate its extensive mineral landholdings at and around Pumpkin Hollow. This ongoing review of the detailed aeromagnetic surveys and continued surface reconnaissance will provide a broader understanding of the geologic model and targeting across Nevada Copper’s land package.
The review will help direct exploration activities in 2022 on newly acquired lands and targets around the existing deposits. The work on the new ground will include surface mapping, sampling, trenching and follow up drilling. The areas of work include the Porphyry, Tedeboy, Mountain View and Black Mountain targets. Geophysical and structural targets around the existing deposits are expected to be followed up with drilling projected to begin in Q3 2022.
Corporate
On March 31, 2022 the Company filed its audited consolidated annual financial statements, the related management’s discussion and analysis and Annual Information Form for the year ended December 31, 2021 on SEDAR.
Qualified Persons The technical information and data in this news release was reviewed by Greg French, C.P.G., VP Exploration of Nevada Copper, Steven Newman, VP Technical Services of Nevada Copper, and Neil Schunke, P.Eng., a consultant to Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.
About Nevada Copper Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP. www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact: Rich Matthews, Investor Relations Integrous Communications rmatthews@integcom.us +1 604 757 7179
Cautionary Language
This news release includes certain statements and information that constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to underground mine development, production and ramp-up expectations and objectives, future hoisting and production rates, equipment installation, expectations regarding obtaining additional funding and the other plans of the Company with respect to exploration and development of the Pumpkin Hollow project.
Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.
Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the ramp-up of the underground mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of the COVID-19 pandemic on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the underground mine; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; dependence on management information systems and cyber security risks; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2021 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 31, 2022. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or information. The forward-looking statements and information contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: no adverse development in respect of the property or operations at the Project; no material changes to applicable laws; the ramp-up of operations at the underground mine in accordance with management’s plans and expectations; no worsening of the current COVID-19 related work restrictions; reduced impacts of COVID-19 going forward; the Company will be able to obtain sufficient additional funding to complete the ramp-up, no material adverse change to the price of copper from current levels; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended.
The forward-looking information or statements are stated as of the date hereof. Nevada Copper disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s filings that are available at www.sedar.com.
Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.
Burlington, Ontario–(Newsfile Corp. – April 4, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (“SBMI” or “the Company”) is pleased to provide the following report on its continuous assay program at its Buckeye Silver Mine in Arizona.
This press release reports the recent assay results from 44 samples. The assays were processed at SBMI’s non-ISO in-house assay facility in Arizona under the supervision of Robert Budd, a metallurgical engineer whose career in metallurgy began in 1972, and Vic Powers, a certified Arizona assayer. The assays include samples from four underground areas of the Buckeye Mine, these being: 1) the footwall of the vein; 2) the recently announced Treasure Room stope; 3) behind the Treasure Room stope; and 4) the historical tailings.
Five samples, taken from the footwall of the vein from an area covering approximately 14 to 18 inches in width, provided the following returns (in ounces of silver per ton or oz/t as well as grams per tonne or g/t):
341.8 oz/t or 11,718.95 g/t;
336.2 oz/t or 1,152.95 g/t;
674.0 oz/t or 23,108.76 g/t;
706.6 oz/t or 24,226.49 g/t; and
124.4 oz/t or 4,265.18 g/t;
The average of the remaining 39 samples (including 6 samples of 0.0 oz/t) is as follows: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%2522Silver_bullet%253BNatural_resource%253BCompany%253BArizona%253BSilver_mining%253BFault_(geology)%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%252289290c44-9f0a-35fc-bf40-9f15aa16183a%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
The overall average for all the 39 above samples is 22.91 oz/t or 785.63 g/t silver. The high-grade values from the footwall were not included in the above overall average.
“These are exciting numbers and they provide us with a great deal of confidence in our internal grade estimates as we move to production”, said A. John Carter, SBMI’s CEO. “As any responsible producer would, we will continuously sample and assay as we proceed.”
Readers are cautioned that the 44 samples are selective grab samples and may not be representative of all the material at the Buckeye Silver Mine. The reader is further advised that these preliminary assay values do not represent a reserve or resource at this time. While significant silver values have been encountered, the quantity, grade, or metal or mineral content of a deposit has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral resource, reserve or a proven mineral reserve.
The buttons from four of the five footwall assays.
As it moves into production, SBMI will assay on a daily basis to better enable it to determine the production head grade of the feed material. SBMI does not intend to report all assays taken daily.
In light of the high-grade values in the assays, the Company has engaged Montana Technical University to help SBMI optimize an efficient recovery process flow sheet. The capital expenditures being made to the mill, funded by the recently-completed oversubscribed financing, will also assist in improving recoveries.
The mill, on permitted patented lands owned by SBMI, is close to completion. Electrical, piping and small fabrication items remain to be completed before commencement of an anticipated two-week trial period. During this two-week trial period SBMI will move roughly 1,500 tons of the lower-grade ore to the mill.
SBMI will move its two boom jumbo and mucker to the Buckeye Silver Mine in anticipation of completion of ongoing development and commencement of mining.
No standards, duplicates or blanks were used or the above 44 samples although management intends to include such checks in future assay programs. Management also intends occasionally send samples to an ISO-certified third party lab for confirmation of SBMI’s owns lab equipment and processes.
The samples analyzed by SBMI at its facility near Globe, Arizona were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.
The Qualified Person for this press release is Mr. Robert G. Komarechka, P.Geo., an independent consultant, who has reviewed and verified SBMI’s work referred to herein. Mr. Robert G. Komarechka, P.Geo. co-authored the NI43-101 compliant report on this property, delivered to the Company in January, 2021.
Finally, due to a typo, the Company under-reported the number of broker warrants issued as part of its recent financing. The correct number is 179,130.
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
Given unprecedented movements in the nickel price, the LME has made a number of announcements including:
Nickel trading update: Consolidated Guidance on Disruption Events and Updated Guidance on the calculation of Monthly Average Settlement Prices (See notice 22/092).
Nickel trading update: Prohibition of Order Submission Outside Daily Price Limits (See notice 22/090)
YERINGTON, Nev., April 01, 2022 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF)(FSE: ZYTA) (“Nevada Copper” or the “Company”) today announced filing of its audited consolidated annual financial statements, the related management’s discussion and analysis and Annual Information Form for the year ended December 31, 2021 on SEDAR. These documents are available on the Company’s website at www.nevadacopper.com and the Company’s SEDAR profile at www.sedar.com.
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
NEVADA COPPER CORP. www.nevadacopper.com
Randy Buffington, President and CEO
For further information contact: Rich Matthews, Investor Relations Integrous Communications rmatthews@integcom.us +1 604 757 7179
