Rover Metals is raising a $1.5MM NBPP for winter drilling at the Bonanza Gold Grade “Arrow Zone”, Cabin Gold Project, NT, Canada. The book is at $550K. First closing next week.
The ice drill pads out over Cabin Lake have been built, and are ready to go. The Arrow Zone is the same Zone that Rover drilled 32m of 13.6 g/t Au (11th best drill hole of 2020 – all Canadian miners). We are now doing follow up drilling, down dip, at a depth of below 60m (under the lake). The use of proceeds also includes Phase 1 Exploration at our new Tobin Gold Project, NV, USA.
Eligible investors can download the NEW investor presentation here.
VANCOUVER, BC, Feb. 25, 2022 /PRNewswire/ – Dolly Varden Silver Corporation (“Dolly Varden” or the “Company“) (TSXV: DV) (OTC: DOLLF), and Fury Gold Mines Ltd. (“Fury“) (TSX: FURY) (NYSE American: FURY) are pleased to announce the completion of their previously announced transaction whereby Dolly Varden has acquired from Fury, through the acquisition of Fury’s wholly-owned subsidiary Homestake Resource Corporation, a 100% interest in the Homestake Ridge gold-silver project (“Homestake Project“), located adjacent to the Dolly Varden Project (“DV Project“) in the Golden Triangle, British Columbia (the “Transaction“).
Shawn Khunkhun, chief executive officer of Dolly Varden, commented: “Completing the consolidation and unification of the Kitsault Valley Project is a pivotal event towards exploring and developing these high-grade precious metals assets in a globally recognized and coveted mining district. I look forward to working closely with our new partner and shareholder Fury to unlock the full potential through discovery, development, permitting and production. I would also like to thank Hecla for their continued financial and technical support.”
Tim Clark, CEO and Director of Fury, added: “The consolidation of these two adjacent properties is an exciting next step that benefits both our companies and only further enhances the upside opportunity of additional discovery of high-grade ounces along this prolific 15km mining trend. We look forward to working closely with the team at Dolly Varden and leveraging complementary skillsets, geology and infrastructure to continue to maximize value for investors in both companies.”
Pursuant to the ancillary rights agreement between Hecla Canada Ltd. (“Hecla“) and the Company dated September 4, 2012, Hecla exercised its anti-dilution right in respect of the Transaction and has acquired 9,048,539 common shares of Dolly Varden at a price of $0.59 per common share for aggregate proceeds to Dolly Varden of $5,322,351. As a result of this subscription, Hecla will maintain its equity interest in the Company of 10.25%.
Transaction Highlights
Combined mineral resource base of 34.7 million ounces of silver and 166 thousand ounces of gold in the Indicated category and 29.3 million ounces of silver and 817 thousand ounces of gold in the Inferred category, solidifying the combined Homestake Project and DV Project (to be referred to together as the “Kitsault Valley Project“) as among the largest high-grade, undeveloped precious metal assets in Western Canada.
Consolidation of two adjacent projects, allowing for numerous potential co-development opportunities with capital and operating synergies.
Exposure to a large and highly prospective land package, with potential to further expand resources through additional exploration along a combined 15 km strike-length within a 163 km2 consolidated land package.
Tim Clark, the Chief Executive Officer of Fury, and Michael Henrichsen, the Senior Vice President, Exploration of Fury, joining the Dolly Varden board.
Transaction Details
Pursuant to a purchase agreement dated December 6, 2021 (the “Purchase Agreement“), Dolly Varden has acquired 100% of Homestake Resource Corporation from Fury in exchange for a $5 million cash payment and the issuance of 76,504,590 common shares of Dolly Varden (“Common Shares“). Homestake Resource Corporation owns a 100% interest in the Homestake Project. As a result, Fury now own approximately 32.88% of Dolly Varden’s issued and outstanding Common Shares.
The Homestake Project hosts a Current Mineral Resource estimated to contain 165,993 ounces of gold and 1.8 million ounces of silver in the Indicated category and 816,719 ounces of gold and 17.8 million ounces of silver in the Inferred category within a 7,500 hectare land package located contiguous to and northwest of the DV Project. The DV Project hosts a Current Mineral Resource estimated to contains 32.9 million ounces of silver in the indicated category and 11.4 million ounces of silver in the Inferred category within a 7,800 hectare land package. For further resource disclosure, please see below under the heading “Technical Disclosure“.
The combined Homestake Project and DV Project would boast a collective mineral resource base of 34.7 million ounces of silver and 165,993 ounces of gold in the indicated category and 29.3 million ounces of silver and 816,719 ounces of gold in the inferred category, solidifying the combined Homestake Project and Dolly Varden Project, the Company’s existing project, as among the largest high-grade, undeveloped precious metal assets in Western Canada.
The close proximity of the Homestake Project and DV Project, combined with common infrastructure in the region, is expected to generate substantial co-development synergies for the consolidated Homestake Project and DV Project, to be called the “Kitsault Valley Project“, as the respective deposits are advanced in combination.
In connection with the Transaction, Dolly Varden and Fury have also entered into an investor rights agreement (the “Investor Rights Agreement“) granting Fury the right to appoint two nominees to the Dolly Varden board so long as Fury owns greater than 20% of the Common Shares outstanding. Should Fury own greater than 10% of the Dolly Varden Common Shares outstanding, Fury shall have the right to appoint one nominee to the Dolly Varden board. Additionally, the Common Shares issued to Fury are subject to a one-year hold period. The Investor Rights Agreement also contain certain customary re-sale restrictions, voting and standstill conditions, and participation rights as agreed between Dolly Varden and Fury.
The Common Shares issuable to Fury will be subject to a contractual one-year hold which expires on February 25, 2023 and a statutory hold period of four months plus one day which expires on June 26, 2022. All Common Shares issued to Hecla will be subject to a statutory hold period of four months plus one day which expires on June 26, 2022.
Further information regarding the Transaction, the Purchase Agreement and the Investor Rights Agreement is provided in the Company’s management information circular dated January 24, 2022 (the “Circular“). The Circular is available under the Company’s profile on SEDAR at www.sedar.com and on the Company’s website at https://www.dollyvardensilver.com/investors/#special-meeting.
Advisors and Counsel
Haywood Securities Inc. (“Haywood“) has acted as financial advisor to Dolly Varden. Stikeman Elliott LLP acts as legal counsel to Dolly Varden.
Minvisory Corp. has acted as financial advisor to Fury. McMillan LLP acts as legal counsel to Fury.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on exploration in northwestern British Columbia. The DV Project consists of the namesake Dolly Varden silver property that hosts a unique pure silver mineral resource as well as the nearby Big Bulk copper-gold porphyry property. Adjacent to the DV Project, the Homestake Ridge Project hosts structurally controlled epithermal gold, silver and copper mineralization. Together, the consolidated DV Project and Homestake Ridge Project, to be referred to as the Kitsault Valley Project, create one large, high-grade precious metals project with further synergistic and exploration upside potential. The Kitsault Valley Project is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that host numerous other high-grade deposits (Eskay Creek, Brucejack). The Big Bulk property is prospective for porphyry and skarn style copper and gold mineralization similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
About Fury Gold Mines Limited
Fury Gold Mines Limited is a Canadian-focused exploration company positioned in two prolific mining regions across the country. Led by a management team and board of directors with proven success in financing and advancing exploration assets, Fury intends to grow its multi-million-ounce gold platform through rigorous project evaluation and exploration excellence. Fury is committed to upholding the highest industry standards for corporate governance, environmental stewardship, community engagement and sustainable mining. For more information on Fury Gold Mines, visit www.furygoldmines.com.
Qualified Person
The technical information contained in this news release has been approved by Rob van Egmond, P. Geo, Chief Geologist for Dolly Varden, who is a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
The Homestake resource estimate is based on the technical report with an effective date of January 20, 2022 and titled, “Technical Report and Updated Mineral Resource Estimate for the Homestake Ridge Gold Project, Skeena Mining Division, British Columbia” which was filed and is available on Dolly Varden’s SEDAR profile at www.sedar.com. The report has been prepared in accordance with NI 43-101, Companion Policy 43-101CP to NI 43-101, and Form 43-101F of NI 43-101.
Mineral resources are estimated at a cut-off grade of 2.0 g/t gold equivalent.
The Dolly Varden resource estimate is based on the technical report with an effective date of May 8, 2019, and titled, “Technical Report and Mineral Resource Update for the Dolly Varden Property, British Columbia, Canada” which was filed and is available on Dolly Varden’s SEDAR profile at www.sedar.com. The report has been prepared in accordance with NI 43-101, Companion Policy 43-101CP to NI 43-101, and Form 43-101F of NI 43-101.
A 150 g/t silver cut-off was chosen to reflect conceptual underground mining and processing cut-off grade.
Mineral Resources are not Mineral Reserves. Mineral resources which are not mineral reserves do not have demonstrated economic viability. There has been insufficient exploration to define the inferred resource as an indicated or measured mineral resource, and it is uncertain if further exploration will result in upgrading the resource to a measured resource category. There is no guarantee that any part of the mineral resource discussed herein will be converted into a mineral reserve in the future.
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, “unlocking” and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, potential synergies expected from the combination of the DV Project and Homestake Project and the development potential of the Kitsault Valley Project.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place heavy reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“), which is available on SEDAR at www.sedar.com. The risk factors identified in the MD&A are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Vancouver, British Columbia–(Newsfile Corp. – February 24, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report it has signed an agreement with Agnico Eagle Mines Limited (TSX:AEM) for the sale of the Pima Property located in Sonora, Mexico, where Riverside will receive cash and completes the pass through royalty transfer with Millrock Resources Inc (TSV:MRO). The Pima Project is part of the Santa Teresa Gold Mining District which includes the Santa Gertrudis Gold Mine owned by Agnico Eagle.
The Pima mineral concession is located inside Agnico’s property tenure and south of the known mine operation. Acquiring the Pima project allows Agnico to consolidate another part of its property concession and provides cash to Riverside. As a reminder, this project was originally added to Riverside’s portfolio as part of the 2019 purchase of the Millrock’s set of 5 (five) assets that included the Cuarentas and La Union projects (see press release September 11, 2019). This current transaction with Agnico allows Riverside to recover the amount of the Millrock transaction with profit and pass on the royalty to Millrock who has been a positive partner with the Company in Mexico.
Riverside is now focusing on its 100% owned projects within its portfolio, including the Cuarentas Gold Project, which is located southeast of Agnico’s property and where drilling in 2021 discovered gold in intermediate sulfidation veins. Riverside plans to progress further work at the Cuarentas project in 2022.
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.
VANCOUVER, British Columbia, Feb. 24, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to announce its acquisition of the Tobin Gold Project situated in the Mt. Tobin range, in northern Nevada. The Tobin Project is located 77 km by road south of the city of Winnemucca, NV, and is in the heart of a rich gold jurisdiction that has seen major consolidation in the past 24 months.
Tobin Gold Project Rover has acquired a 100% interest in the Tobin Gold Project (“Tobin”) which is comprised of 68 claims within BLM land, for a total of 1,405 acres (or 569 hectares). Tobin is a Carlin-style gold system set in Mesozoic rocks. The project is located about 40 km from the operating Phoenix Gold Mine, which is owned by Nevada Gold Mines, a joint venture between Newmont and Barrick. Tobin is also located about 60 km from i-80 Gold’s Lone Tree Gold Mine, 50 kms from SSR’s Marigold Mine and is in close proximity to other proven gold deposits owned by i-80 Gold, SSR Mining, and Kinross. See property map below for more details.
The property sits in the historical Mt. Tobin mercury district within an area of widespread silicification and banded chalcedony veins over an area of several square kilometers. Both structural and stratabound jasperoids are present in the adjoining Triassic and Paleozoic carbonate and fine-grained clastic sediments along the range-front structure as well as higher in the range. The prospect area was identified during a BLEG stream sediment sampling program. Follow up rock chip sampling along and above the range front confirmed that there are multiple structures carrying mineralization. Gold values run as high as 2.3 g/t Au, with many samples having gold content between 200 ppb Au and 1000 ppb Au. Pathfinder elements run as high as 200 ppm Sb, 1100 ppm As and 29 ppm Hg. Mineralization at the Tobin Project appears to be localized along two subparallel trends. The first is the range-front fault, and the second is structural zone located several tens of meters above the valley that trends somewhat obliquely to the range-front. To date, the better mineralized rocks were largely collected from this second structure located higher on the mountain front.
Judson Culter, CEO at Rover Metals, states, “The Tobin Gold Project is our first reverse circulation (“RC”) drilling project in our first low-cost exploration jurisdiction. Our portfolio of gold projects is now complete. We now have the perfect summer/fall project in Tobin, to offset our northern Canadian gold projects, which are typically best explored in the winter months.”
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company completed Phase 2 Exploration at its 100% owned Cabin Gold Project (“Cabin”) in 2021. The Company’s secondary asset, the Up Town Gold Project (for which it retains a 25% ownership interest), also saw the completion of Phase 2 Exploration Drilling in Q4-2021, and the results are expected in Q1-2022. The Company anticipates commencing its Phase 3 Exploration Program at Cabin in March of this year.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Apex El Nido gold project, southeast Alaska (Coeur Explorations, 1,500 meters under consideration).
Batamote copper project, Sonora Mexico (Mine Discovery Fund earning in, preliminary planning in progress).
El Picacho gold project, Sonora Mexico (Tocvan Ventures, preliminary planning in progress).
Nikolai project; new nickel – copper – cobalt – chrome – platinum project generated, Alaska. (100% Millrock, surface exploration to be completed).
Chisna copper–gold porphyry project, central Alaska (100% Millrock, surface exploration to be completed).
ArcWest Exploration expects to see drilling on as many as three projects (Millrock owns ~11.7% of the issued and outstanding ArcWest shares).
VANCOUVER, British Columbia, Feb. 24, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that it anticipates a busy year of partner-funded drilling and surface exploration on projects in which it holds an interest (either directly or through stock holdings and royalties).
Millrock President and CEO Gregory Beischer commented: “Millrock is looking forward to a very active upcoming year with numerous catalysts that could serve to drive the company’s share price upwards. Our shareholdings in other junior exploration companies have the potential to significantly increase in value in 2022.”
Treasure Creek: Felix Gold has outlined several high-priority drill targets and the company indicates they intend to begin drilling in March 2022. The Northwest Array and Eastgate prospects look particularly encouraging. The property is west of the Fort Knox gold mine operated by Kinross, and the recent gold discovery made by Freegold Ventures. Millrock has transferred ownership of the project to Felix Gold in return for shares and a production royalty with an advanced minimum royalty stream. Further details on Treasure Creek and other projects sold to Felix Gold are available in a Felix Gold presentation that can be accessed at this link.
Ester Grant: Felix Gold calculated a maiden resource for the Grant Mine claim block, which forms part of the project. Felix reported that they have calculated an Inferred Mineral Resource estimate (JORC 2012) for Grant Mine of 5.8 million tonnes @ 1.95 g/t Au for 364,000 ounces of gold (note: the Millrock Qualified Person has not independently verified the reported resource, Source: INDEPENDENT GEOLOGIST’S REPORTS ON FELIX GOLD LIMITED’S MINERAL EXPLORATION PROJECTS IN ALASKA, Prepared by Independent Geologist Mr. Ian Taylor of Mining Associates Pty Ltd., October 15, 2021). Felix indicates that drilling is planned for the Grant Mine in Summer 2022. Millrock has transferred ownership of the project to Felix Gold in return for shares and a production royalty with an advanced minimum royalty stream.
Fairbanks District: Millrock is in a strategic alliance with Felix Gold. Mineral rights that have been, or may be secured by Felix or Millrock in the future, become subject to a royalty in favour of Millrock. The claims currently subject to the alliance are situated near Kinross’ Fort Knox gold mine and the recent discovery made by Freegold. Felix indicates that drilling is planned for Summer 2022.
Liberty Bell: Felix Gold has indicated it will drill holes through areas covered by gravel deposits. The gravel ranges from 10 meters to perhaps 100 meters in thickness and obscures interesting geophysical targets. Millrock has transferred ownership of the project to Felix Gold in return for shares and a production royalty with an advanced minimum royalty stream. A description of the project is available on Millrock’s website here.
64North: Partner Resolution Minerals is earning into the project through exploration expenditures, cash payments, and share payments to Millrock. Resolution presently has vested with a 42% interest and must soon decide to advance the project further or form a joint venture as a minority partner Resolution has developed a compelling series of drill targets at the Tourmaline Ridge prospect on the West Pogo block of claims. These claims are situated west of the Pogo Mine, a gold mine operated by Northern Star Resources. Resolution is making plans to execute a drill program in Summer 2022. Further information on the project can be found on the Resolution Minerals website.
Apex El Nido: Partner Coeur Explorations funded an extensive soil and rock sampling program in 2021, in which some strong gold results were obtained from the soil sampling. The work traced the known gold-bearing vein system more than one kilometer from the old mine workings. Coeur is contemplating a summer 2022 drill program. A description of the project is available on Millrock’s website here.
Nikolai Project: Millrock has recently acquired mineral rights that cover some thick, historic drill intersections of nickel – copper – cobalt – chrome – platinum group element mineralization. Millrock believes there is continuity between the drill intersections and that a large, albeit low-grade metal resource could be delineated with a modest drill program. At other locations on the property, there are some exceptionally high grades of similar mineralization that are also enriched in the more rare and valuable platinum group elements such as osmium and rhodium. The project is described in more detail in this prior Millrock press release, and on the Millrock website. Further to the news release dated February 14, 2022, the Company reports 1,000,000 common shares have been issued in connection with the Canwell claim block (43 claims, not 42 as reported in the February 14, 2022 press release), pursuant to an agreement dated February 14, 2022, between David Johnson and Millrock. The Canwell claim block and surrounding area of interest is subject to a 3.0% Net Smelter Returns production royalty. Millrock can reduce the royalty to 2.0% by paying US$2.0 million. Millrock also has the option to further reduce the royalty to 1.0% by paying an additional US$3.0 million and to 0.0% by paying an additional US$4.0 million.
Chisna Project: Millrock has steadily been advancing this district-scale porphyry copper-gold project and owns a 100% interest in several claim blocks. Capitalizing on a proprietary ZTEM – MAG geophysical survey, the company has collected geochemical data over interesting geophysical anomalies. The next step is drilling. Millrock has been talking to several potential earn-in partners. A project description is available here.
British Columbia Update
Millrock has sold its four British Columbia projects to ArcWest Exploration. As a result, Millrock has a significant shareholding in the company (9,623,417 shares or 11.7% of the issued and outstanding shares). ArcWest is also a “project generator” company and has numerous projects throughout British Columbia that have earn-in partners. ArcWest anticipates that drilling will occur on at least three of the projects it holds. Any drill success should result in an increase in the value of ArcWest shares held my Millrock, which in turn should result in an increase in Millrock’s share price. Further details about ArcWest can be viewed on their website.
Batamote Project: Millrock made an option agreement with a subsidiary of Mine Discovery Fund (“MDF”), a private Australian company. The earn-in company is called Latin America Copper. MDF plans to make Latin America Copper a public company. Millrock is to receive cash and share payments as Latin America Copper earns in, with an advance minimum royalty stream to follow. The company has indicated that it wishes to drill the property in 2022. A project description can be viewed here.
El Picacho Project: Millrock was able to renew an option agreement with the underlying property owners. Millrock assigned its rights to Tocvan Ventures. As a result, Millrock now holds a production royalty with an advanced minimum royalty stream provision.
Grant of Stock Options The Board of Directors of Millrock has authorized a grant of 3,175,000 stock options to employees, executives and directors of the company. The options are to be granted with a strike price equal to the closing market price of Millrock shares on February 24, 2022, and will have a five-year term.
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., Resolution Minerals and Felix Gold. 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 Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to form joint ventures and to perform further exploration including drilling. 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.
February 24, 2022 – Vancouver, BC: Riverside Resources Inc.(“Riverside” or the “Company”) (TSX-V: RRI) (OTCQB: RVSDF) (FSE: 5YY), is pleased to report it has signed an agreement with Agnico Eagle Mines Limited (TSX:AEM) for the sale of the Pima Property located in Sonora, Mexico, where Riverside will receive cash and completes the pass through royalty transfer with Millrock Resources Inc (TSV:MRO). The Pima Project is part of the Santa Teresa Gold Mining District which includes the Santa Gertrudis Gold Mine owned by Agnico Eagle. The Pima mineral concession is located inside Agnico’s property tenure and south of the known mine operation. Acquiring the Pima project allows Agnico to consolidate another part of its property concession and provides cash to Riverside. As a reminder, this project was originally added to Riverside’s portfolio as part of the 2019 purchase of the Millrock’s set of 5 (five) assets that included the Cuarentas and La Union projects (see press release September 11, 2019). This current transaction with Agnico allows Riverside to recover the amount of the Millrock transaction with profit and pass on the royalty to Millrock who has been a positive partner with the Company in Mexico.Riverside is now focusing on its 100% owned projects within its portfolio, including the Cuarentas Gold Project, which is located southeast of Agnico’s property and where drilling in 2021 discovered gold in intermediate sulfidation veins. Riverside plans to progress further work at the Cuarentas project in 2022. 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.comRaffi Elmajian Corporate Communications Riverside Resources Inc. relmajian@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.comCertain 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.The Communications Team Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 x 312 Toll Free: 1-877-RIV-RES1 (748-7371) Web: www.rivres.com
VANCOUVER, British Columbia, Feb. 23, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to report, that further to its release on January 13, 2022, the gold mineralization at the Andrew Zone does extend past the primary sulfide intervals in the drill core. The Company has received its new December 2021 samples back from the lab and is pleased to be reporting longer mineralized intervals at the Andrew Zone South, and Andrew Zone North.
Andrew Zone South The Company is now reporting significant intervals of:
7.4m of 1.64 g/t Au (from 63.1m to 70.5m) at hole CL-21-25, or an increase of approximately 5m to the previously reported interval;
2.3m of 1.21 g/t Au (from 53.0m to 55.3m) closer to surface in hole CL-21-25;
4.5m of 2.62 g/t Au (from 50.4m to 55.1m) at hole CL-21-24 (which previously reported 3.9m of 2.91 g/t Au);
The updated cross-sections for holes CL-21-24 and CL-21-25 will be available on Rover’s website in the coming days.
Andrew Zone North The Company is now reporting a significant interval of:
6.4m of 1.88 g/t Au (from 37.6m to 44.0m) at hole CL-21-29, or an increase of approximately 3m to the previously reported interval
Judson Culter, CEO at Rover Metals, states, “the Andrew Zone has a surface strike length of approximately 800m from south to north, and is open at depth. Follow-up drilling is needed to further delineate this zone at depth.”
Updated Tables of Significant Drill Results
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-24
Y031579
50.37
51.00
0.63
0.78
Andrew South
CL-21-24
V748102
51.00
51.50
0.50
2.77
Andrew South
CL-21-24
V748103
51.50
52.01
0.51
0.15
Andrew South
CL-21-24
V748104
52.01
52.76
0.75
1.57
Andrew South
CL-21-24
V748105
52.76
53.10
0.34
3.63
Andrew South
CL-21-24
V748106
53.10
53.41
0.31
5.16
Andrew South
CL-21-24
V748107
53.41
53.80
0.39
1.79
Andrew South
CL-21-24
V748108
53.80
54.20
0.40
3.57
Andrew South
CL-21-24
V748109
54.45
54.77
0.32
6.11
Andrew South
CL-21-24
V748110
54.77
55.12
0.35
4.93
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-25
V748125
53.00
53.45
0.45
1.64
Andrew South
CL-21-25
Y031568
53.45
53.96
0.51
0.22
Andrew South
CL-21-25
Y031569
53.96
54.72
0.76
1.95
Andrew South
CL-21-25
Y031570
54.72
55.26
0.54
0.75
Andrew South
CL-21-25
Y031571
63.07
63.51
0.44
0.06
Andrew South
CL-21-25
Y031572
63.51
63.95
0.44
3.39
Andrew South
CL-21-25
V748126
63.95
64.25
0.30
0.73
Andrew South
CL-21-25
Y031577
64.25
64.80
0.58
0.30
Andrew South
CL-21-25
Y031573
64.80
65.42
0.62
1.17
Andrew South
CL-21-25
V748127
65.42
65.88
0.46
1.72
Andrew South
CL-21-25
V748128
65.88
66.18
0.30
0.22
Andrew South
CL-21-25
V748129
66.18
66.58
0.40
2.16
Andrew South
CL-21-25
Y031574
66.58
67.09
0.51
0.18
Andrew South
CL-21-25
V748130
67.09
67.39
0.30
4.01
Andrew South
CL-21-25
V748131
67.39
67.76
0.37
0.41
Andrew South
CL-21-25
Y031575
67.76
68.00
0.24
0.12
Andrew South
CL-21-25
V748132
68.00
68.35
0.35
0.50
Andrew South
CL-21-25
V748133
68.35
68.68
0.33
0.64
Andrew South
CL-21-25
V748134
68.68
68.98
0.30
1.59
Andrew South
CL-21-25
V748135
68.98
69.68
0.70
4.27
Andrew South
CL-21-25
V748136
69.82
70.12
0.30
1.07
Andrew South
CL-21-25
V748137
70.12
70.46
0.34
5.55
Andrew South
Hole
Sample ID
From
To
Interval
Au g/t
Zone
CL-21-29
V748153
37.60
38.00
0.40
2.72
Andrew North
CL-21-29
V748154
38.00
38.40
0.40
4.75
Andrew North
CL-21-29
V748155
38.4
38.70
0.30
1.18
Andrew North
CL-21-29
V748156
38.70
39.10
0.40
4.83
Andrew North
CL-21-29
Y031583
39.10
39.37
0.27
0.39
Andrew North
CL-21-29
V748158
39.37
39.71
0.34
1.31
Andrew North
CL-21-29
V748159
39.71
40.09
0.38
5.61
Andrew North
CL-21-29
V748160
40.09
40.39
0.30
4.43
Andrew North
CL-21-29
V748161
40.39
40.82
0.43
0.60
Andrew North
CL-21-29
Y031589
40.82
41.70
0.88
1.06
Andrew North
CL-21-29
V748162
41.70
42.01
0.31
1.48
Andrew North
CL-21-29
Y031589
42.01
42.25
0.24
1.06
Andrew North
CL-21-29
V748165
42.97
43.37
0.40
0.92
Andrew North
CL-21-29
Y031585
43.37
44.00
0.63
0.47
Andrew North
Drill core is cut with half sent to ALS Global Laboratories (ALS) for crushing to <2 mm with 250 g split pulverized to -75 µm (200#). ALS is an ISO 17025 accredited laboratory. A 30g change is fire assayed and analysed using AAS finish for Gold.
True thickness of the intervals reported herein have not been calculated, therefore, all intervals are reported as drill core intervals and should be considered apparent thicknesses. Program gold averages are reported at weighed averages.
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company completed Phase 2 Exploration at its 100% owned Cabin Gold Project (“Cabin”) in 2021. The Company’s secondary asset, the Up Town Gold Project (for which it retains a 25% ownership interest), also saw the completion of Phase 2 Exploration Drilling in Q4-2021, and the results are expected in Q1-2022. The Company anticipates commencing its Phase 3 Exploration Program at Cabin in March of this year.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, BC, Feb. 23, 2022 /CNW/ – Dolly Varden Silver Corporation (“Dolly Varden” or the “Company“) (TSXV: DV) (OTC: DOLLF) is pleased to announce that Hecla Canada Ltd. (“Hecla”) gave notice of their intent to invest $5.3 million dollars concurrent with the completion of the previously announced transaction whereby Dolly Varden will acquired a 100% interest in the Homestake Ridge gold-silver project (“Homestake Project”), located adjacent to the Dolly Varden Project (“DV Project”) in the Golden Triangle, British Columbia (the “Transaction”).
(CNW Group/Dolly Varden Silver Corp.)
Pursuant to the ancillary rights agreement between Hecla and the Company, dated September 4, 2012, Hecla has subscribed for the purchase of 9,048,539 common shares of the Company in accordance with their anti-dilution right in respect of the Transaction for proceeds of approximately $5.3 million to maintain its pro-rata equity interest in the Company. The common shares to be issued to Hecla would be in addition to those issued as part of the Transaction.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on exploration in northwestern British Columbia. The DV Project consists of the namesake Dolly Varden silver property that hosts a unique pure silver mineral resource as well as the nearby Big Bulk copper-gold porphyry property. Adjacent to the DV Project, the Homestake Ridge Project hosts structurally controlled epithermal gold, silver and copper mineralization. Together, the consolidated DV Project and Homestake Ridge Project, to be referred to as the Kitsault Valley Project, create one large, high-grade precious metals project with further synergistic and exploration upside potential. The Kitsault Valley Project is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that host numerous other high-grade deposits (Eskay Creek, Brucejack). The Big Bulk property is prospective for porphyry and skarn style copper and gold mineralization similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, potential synergies expected from the combination of the DV Project and Homestake Project, the development potential of the property, the completion of the Transaction and the completion of the Hecla subscription.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“), which is available on SEDAR at www.sedar.com. The risk factors identified in the MD&A are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
The Communications Team
