Categories
Base Metals Breaking Energy

Granite Creek Copper Intercepts 105 Meters of 1.18% Copper Equivalent Including 21.22 Meters of 2.55% CuEq at the Carmacks Copper-Gold-Silver Project in Yukon, Canada

VANCOUVER, BC / ACCESSWIRE / August 24, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce results from diamond drill hole CRM21-011 which intersected copper sulfide mineralization grading 1.18% CuEq (0.96% Cu, 0.01% Mo, 0.18 g/t Au, and 4.06 g/t Ag) over a 105.52-meter interval. The long interval included a high-grade intercept of 2.55% CuEq (2.17% Cu, 0.01% Mo, 0.36 g/t Au and 9.13 g/t Ag) over 21.22 meters (See table 1 below). Also, within the 105m interval, grades reached an impressive 19.72 CuEq (18.97% Cu, 0.46 g/t Au and 38.3 g/t Ag) in 0.5 meters of semi-massive chalcopyrite (see Photo 1 below).

Drill hole CRM21-011, along with four other drillholes from the 2021 Phase 1 program (see release dated July 22, 2021) have extended known mineralization in Zone 2000S from 30m to 100m below the current block model. The Company believes these results will add significant additional tonnage to an updated NI 43-101 mineral resource estimate currently being developed. The entire mineralized section encountered in CRM21-011 is outside the current block model, providing a greater than 100-meter potential expansion below the current resource area (see Figures 1 and 2 below).

Table 1 – Highlights from Diamond Drill hole CRM 21-011 and previous results from Zone 2000S

Drillhole 

 		From(m)To(m)Length*(m)Cu(%)Mo(%)Au(g/t)Ag(g/t)CuEq** (%)
Results from this release
CRM21-011223.98329.50105.520.960.010.184.061.18
Including223.98245.2021.222.170.010.369.132.55
and including260.32260.820.518.970.010.4638.319.72
Previously released results
CRM21-003146.35†214.5068.150.590.030.143.690.83
Including161.40179.8018.040.810.030.214.801.13
CRM21-005137.05179.8043.240.740.050.163.821.06
Including142.05158.4016.351.200.030.266.111.58
CRM21-006194.40278.2083.800.640.010.133.230.81
Including229.20278.20490.870.020.173.881.10
Including248.76266.2017.441.210.030.225.111.53
CRM21-008195.80228.4032.60.800.020.173.881.02
Including201.55215.55141.100.020.244.861.40
CRM21-009190.50243.8553.350.590.010.142.710.75
Including191.30201.7010.40.87BDL0.253.701.09
and including209.00225.9516.950.620.010.132.760.77
and Including229.90235.255.351.210.060.284.881.68

** Copper equivalent (Cu Eq) values assume Cu $3.35/lb, Au $1600/oz, Ag $24/oz, Mo $12/lb and 100% recovery. *Weighted average intercepts shown. Estimated true widths vary but, based on geological interpretation of cross-section, are estimated to be 50-70% of the intersected width. † Zone has poor recovery

President & CEO, Tim Johnson, commented, “The extent of high-grade mineralization in this drill hole, coupled with the clear potential for further expansion of the zone, indicates that, despite over 50,000 meters of historical drilling completed to date, tremendous exploration potential remains on the Carmacks project. All core samples from the remaining nine holes of the Phase 1 diamond drill program are currently at the lab for assay. The Company looks forward to releasing these results over the coming weeks as well as those from the Phase 2 reverse circulation program currently underway, and also the upcoming Phase 3 diamond drill program, as they become available.”

Zone 2000S

Zone 2000S, originally discovered in 2006 following an IP geophysical survey, has the potential to add resource tonnage in the sulfide domain. Located approximately 300 meters south of zones 1,4 & 7 the zone is cut off by a fault on the southern end. The north end of the 2000S zone may be the fault offset continuation of zone 4 or zone 7 and this theory will be drill tested in phase 3 of the company’s drill campaign. The mineral resource on this zone (shown in table 2)is based on a 0.25% sulphide copper grade cut-off for the sulphide resource and 0.15% acid soluble Cu cut-off in the oxide resource. Using the same copper equivalent calculation that the company used to report CuEq in this news release the sulfide resources in Zone 2000S would be 0.85% CuEq in the measured and indicated category and 0.89% in the inferred. With a significant portion of the 2021 drill intercepts grading higher than the current resource an updated resource estimate not only has the potential to add tonnage in this zone but also in increase in grade. 1Six diamond drillholes were completed on this zone in the first phase of drilling with the intent of evaluating the continuation of bornite-chalcopyrite mineralization down dip. Results from five of the six holes have been released (July 22, 2021 news release) with all five holes intercepting mineralization below the current resource model.

Table 2 – Zone 2000S current mineral resources1

CategoryTonnesCu (%)Acid soluble Cu (%)Sulphide Cu (%)Au (g/t)Ag (g/t)
Measure & IndicatedOxide899,0000.550.400.150.182.67
Inferred Oxide23,0000.560.370.180.172.80
Measure & IndicatedSulfide740,0000.700.070.630.173.28
Inferred Sulfide636,0000.730.050.680.183.50

1Mineral resource prepared by Dr. Gilles Arseneau, P.Geo., reported in JDS Energy and Mining Inc 2017 Ni 43-101 [1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada., with updated resource for Zones 2000S, 12 and 13 as reported in April 9, 2018 by Copper North Mining.

Photo 1: CRM 21-011 260.32m to 260.82m over 18.97% Cu

Figure 1: Cross Section of CRM21-011

Figure 2: Long section of Zone 2000S

Photo 2: CRM 21-011 231.35 to 233.35

Upcoming Events

Granite Creek Copper will be participating in the 2021 Yukon Exploration Investment Summit on Tuesday, August 31, at 10am PT, a live panel session with Q&A, hosted by Invest Yukon and moderated by Trevor Hall. Click here to register.

COVID-19 Protocols

Granite Creek has worked closely with the Yukon government to develop a COVID-19 safety plan that enables the Company to implement an effective work plan while maintaining the highest degree of safety of our workers and surrounding communities. The Company strictly adheres to mandates put in place by health authorities at the Federal and Territorial government level and hold the health and safety of our workers, and the citizens of the communities in which work in the highest regard.

[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag.

[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com

Qualified Person

Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Quality Control and Quality Assurance

Quality assurance and quality control procedures include the systematic insertion of duplicate, blank and standard samples, making up 12% of the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and shipped directly to the Bureau Veritas preparation laboratory in Whitehorse. All geochemical analyses were performed by Bureau Veritas in Vancouver. Copper and silver analysis was performed by four-acid digestion with an ICP-ES finish. Non-sulphide copper was determined through a sulphuric acid leach with an AAS finish. Gold was analyzed by igniting a 15 g sample followed by an aqua regia digestion with an ICP-MS finish.

Forward-Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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

SOURCE: Granite Creek Copper Ltd.

Categories
Junior Mining Precious Metals

NV Gold Corp – Progress Update Q3 and Q4, 2021

VANCOUVER, BC / ACCESSWIRE / August 23, 2021 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) (“NV Gold” or the “Company”) The Company announced today an update on its active projects in Nevada, USA.

Slumber Gold Project, Humboldt County, Nevada

Our Q4, 2020 drill program at Slumber expanded the margins of known mineralization from previous work. Additional geophysics (CSAMT) followed by detailed mapping and sampling have advanced and enlarged our target interpretation which will focus the placement of the next round of drilling, anticipated in Q4, 2021. Details of the recent work will be outlined in a separate press release.

Sandy Gold Project, Lyon County, Nevada

Our maiden drilling at the Sandy Project in Q1, 2021 returned successful results, even though no high-grade intercepts were encountered. A large volume of gold mineralization was outlined, covering a strike length of 2 kilometers and a width of up to 500 meters. Water and equipment limitations kept the drilling depths to 300 meters.

Narrow gold-quartz-pyrite veining was encountered in most of the 17 holes drilled, suggesting a deeper target or targets may be present. A follow-up IP-Resistivity geophysical program is set to initiate within the next 2 weeks. Additional details of the planned geophysical work will be outlined in a separate press release. Depending upon availability of drilling equipment, the next drill program at Sandy is likely to be scheduled in Q1, 2022.

Discovery Bay Gold Project, Lander County, Nevada

The Discovery Bay Project is located less than 10 miles southeast of the (previously producing) Cove McCoy Mine in Lander County. The target area is a kilometer long, elongate window of Triassic Osobb Mountain Quartzite and Cane Springs Limestone (host rocks at McCoy), and other underlying favorable host lithologies. Most of the target(s) is covered by thin layers of Tertiary volcanics (Basal Tuffs) and Quaternary rocks.

NVX has expanded its claim position in preparation for a 4-6-hole initial RC program, expected to commence in early Q4 2021.

Pickhandle Project, Lander County, Nevada

NV Gold plans a Phase 1 exploration program during Q4 2021 leading to a potential RC drilling program, in Q1 2022, to be focused on exploring a small window of Permian Antler Sequences, hosting anomalous jasperoids and mineralized dikes. Like the “Lone Tree Gold Mine Model” the target is mostly covered and extends underneath Tertiary volcanic cover and into the pediment. There is no historical drilling at Pickhandle, and it represents a “virgin” opportunity for a Nevada discovery!

Spanish Canyon Project, Nye County, Nevada

NV Gold plans a Phase 1 reconnaissance program during Q4 2021. The project is a “Carlin-type” disseminated gold-silver system hosted in the calcareous sediments of the Triassic Luning and Sunrise Formations. The area is characterized by multiple stages of faulting, replacement silicification, hydrothermal and tectonic breccia bodies and argillic-decalcification alteration of carbonates over a 4 square-kilometer area.

Although there has been no historical drilling at Spanish Canyon, the project is an exciting prospect owing to its numerous mineralized jasperoid zones in an area up to a kilometer long and contains previous outcrop sampling that assayed up to 2.5 g/t Au and over 1,000 ppm As.

Spanish Canyon represents an untested gold system, with bulk mineable potential, which is situated in favorable geologic and geographic environments. Drill targets have been identified and include a large basin pediment area, range front structural zone, with mineralization exposed in the outcrops along the low lying hills of the range. A maiden drilling program could be initiated in Q1 or Q2, 2022.

The Near-Term Strategy and Outlook

The Company continues its focus on Nevada and the Great Basin, one of the largest and most productive gold provinces in the world. On a regional-scale, Nevada is thought by many to be a thoroughly explored gold province. Much of the near surface gold that has been found over the past 40 years has already been mined or is being mined today. To find significant new deposits, the successful explorer needs to employ modern, sensitive sampling techniques combined with regional-scale structural interpretation and a willingness to drill, drill, drill. The breadth of experience of our staff and advisors gives us our advantage. Over 50% of Nevada is covered by recent basin sediments or volcanic cover, which often obscures the classic, visible expressions of mineralization. These covered areas are composed of the same rocks with the same temporal placement as the gold deposits found in the nearby ranges. There is a strong likelihood that other, similar-sized deposits await discovery! Significant discovery potential remains in one of the preeminent gold provinces on Earth. The Company has a strong property position with over 20 projects, ranging from Greenfields to advanced “pre-discovery”. Our property portfolio covers a number of geologic environments and at varying levels of advancement. Holding costs for most of these properties are minimal, particularly those that are held as joint venture or lease-out possibilities.

It is our plan to drill 4-6 projects in the 12-18-month time horizon, providing a good news flow and multiple opportunities for success. We look forward to a productive and successful exploration season ahead.

About NV Gold Corporation

NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2021 will be NV Gold’s busiest exploration year in its corporate history.

On behalf of the Board of Directors,

John E. Watson, President & CEO

For further information, visit the Company’s website at www.nvgoldcorp.com or contact:

Phone: 1-303-674-9400
Email: john@nvgoldcorp.com

Forward Looking Statements

This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s planned exploration activities, the potential for a discovery at its properties, and acquisition of new gold projects are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company’s Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corporation

Categories
Base Metals Energy Junior Mining

Playfair Mobilizes for Drilling at RKV Copper Project, Norway

Vancouver, British Columbia–(Newsfile Corp. – August 23, 2021) – Playfair’s (TSXV: PLY) (FSE: P1J1) (OTC Pink: PLYFF) core drilling program on its large (201 square kilometers) 100% owned RKV Copper Project in South Central Norway is expected to start in early September. Playfair has delineated seven drill targets in five areas, Drill Notifications have been made and necessary permits are approved.



Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7302/94037_35fb048aa4722bdf_002full.jpg

Playfair, as a responsible mineral explorer, values protecting the natural environment it works in. Playfair uses new technologies and methods to reduce the impact of its exploration. Playfair’s exploration to date has been in three phases.

The first phase of Playfair’s exploration used non-invasive machine learning algorithms to reinterpret existing geochemical-geological-geophysical data sets and outline potential exploration target areas with similarities to known mineral occurrences.

The second phase of Playfair’s exploration was minimally invasive. In the areas outlined as possibly favourable by the machine learning algorithms small pits were dug by hand, samples of soil were removed, and the pits refilled. There was no off-road driving. Subsequent chemical analysis outlined areas with a high content of copper or other elements of interest.

The third phase of Playfair’s exploration measured the intensity of the earth’s magnetic field in some of the areas where a high copper content was found in soils. Variations in the magnetic field provide important information about the underlying bedrock. The survey was non-intrusive and used an unmanned drone to carry the measuring equipment.

The seven drill targets were previously described: Storboren (November 07, 2019, and December 05, 2019, News Releases), Sæterfjellet, (January 06, 2021, News Release), Kletten North and Kletten South (January 28, 2021, News Release), Røstvangen Northeast and Røstvangen Southwest (February 17, 2021, News Release) and Rødalen (March 11, 2021, News Release).

The drill targets are MMI (Mobile Metal Ion) copper anomalies discovered by sampling target areas generated by Windfall Geotek (TSXV: WIN) (OTCQB: WINKF) using their proprietary Computer Aided Resources Detection System (CARDS).

All seven drill targets show compelling coherent MMI Cu anomalies with multiple MMI Cu values greater than 6,000 ppb. The highest value recorded was 53,300 ppb MMI Cu. A short MMI Report by SGS states that values greater than 6,000 ppb MMI Cu “are likely to be associated with weathering copper sulphides.”

Playfair’s fourth phase of exploration is planned to begin in September 2021. In keeping with Playfair’s intent to minimise the impact of its exploration on the natural environment Playfair will use a lightweight drilling machine which can be disassembled and hand-carried to the drill sites. Playfair’s man-portable drill has now arrived in Norway, cleared customs and has been transported to Tynset, approximately 25 km from Rødalen, the first drill target. With a population of 5,400, Tynset is the municipal centre of the Nord-Østerdalen region. Arctic Drilling As., a local Norwegian Company will carry out the drilling.



Figure 2

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7302/94037_35fb048aa4722bdf_003full.jpg

A presentation on the drilling plans can be found at this direct link or on Playfair’s website.

The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.

The road to a cleaner environment includes electric vehicles. Electric vehicles need copper, nickel, and cobalt. There is no green future without minerals.

For further information visit our website at www.playfairmining.com or contact:

Donald G. Moore
CEO and Director
Phone: 604-377-9220
Email: dmoore@wascomgt.com

D. Neil Briggs
Director
Phone: 604-562-2578
Email: nbriggs@wascomgt.com

Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain “forward-looking” statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

Neither 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.

Categories
Precious Metals

Physical Cash Stops Digital Theft – David Morgan

By Greg Hunter’s USAWatchdog.com (Saturday Night Post)

Economic analyst and financial writer David Morgan says, at some point in the not-so-distant future, the world is going to have another banking crisis.  Morgan contends in the next financial crisis, the banks are going to take depositors’ money in what is called a “bail-in.”  Morgan explains, “We have this saying in the precious metals world, and that is ‘If you don’t hold it, you don’t own it.’  Let’s move it over to the currency realm.  What if you had that same idea that if you don’t hold it, you don’t own it?  The reason why that is so important to me and many others is the bailout situation is over.  It will be bail-ins next time, which means you become an unsecured creditor of the bank.  This means that if you don’t hold it, you may not own it.  If we were to have a bail-in . . . they may not take all of your currency, but they would probably take part of it. . . . If you go to Argentina during one of their episodes, all the money in their banks was still yours, but you were limited to what you could take out.  You could be a millionaire or a multi-millionaire, but you could only take out 300 pesos a week.  So, what good is that?  If your mortgage was 4,000 pesos a month and you can only get 300 pesos a week, you would default on your mortgage.”

How much actual cash is out there for you to hold?  Morgan says, “M-Zero is the monetary base. That is paper money and coins, and in a round number it’s about $2 trillion.  That is a bigger number than what I thought.  Another interesting thing is there are 12 billion $100 bills.  (That equals $1.2 trillion in $100 bills.)  So, the vast majority of the supply of Federal Reserve Notes are in $100 bills.”

How much currency is sitting in the banking system that you could tap?  Morgan says, “60% of U.S. currency is sitting overseas. . . . So, of all the money out there, only 5% of the available physical money is actually there in the bank in America.”

Morgan suggests that you have one to three months cash at home for expenses like rent or mortgage, food and utilities.

Morgan also likes gold as an investment, but he especially likes silver.  Morgan says, “Silver is totally undervalued and is the most undervalued asset out there.”  Morgan contends that “silver is at near record lows” at around $23 per ounce if adjusted for inflation and massive Fed money creation.

Another reason to hold physical gold and silver is inflation is starting to take off in a way most people can clearly see now.  Even the Fed knows the inflation genie is out of the bottle, and it’s not going to be put back in anytime soon.

In closing, Morgan suggests holding some cash, gold and silver in physical form for safety and security.

Join Greg Hunter as he goes One-on-One with precious metals expert David Morgan, publisher of “The Morgan Report.”

(To Donate to USAWatchdog.com Click Here)

VIDEO Interview click link below:

https://rumble.com/vlies7-physical-cash-stops-digital-theft-david-morgan.html

After the Interview: 

There is much free information and videos on the homepage of TheMorganReport.com.

To receive “The Morgan Report” for 30 days free of charge, click here.  You can also become a subscriber to “The Morgan Report.” If you use the coupon code:  hunter, you get 10% off your subscription click here.

To get a copy of “The Silver Manifesto,” click here.

(USAWatchdog.com is posting these links as a courtesy and does not get paid by David Morgan in any way.)

Categories
Junior Mining

Magna Gold Announces Closing of Previously Announced Non-Brokered Private Placement of C$10,000,000 Convertible Debentures with Delbrook Capital Advisors Inc.

TORONTO, Aug. 20, 2021 /CNW/ – Magna Gold Corp. (TSXV: MGR) (OTCQB: MGLQF) (“Magna” or the “Company“) is pleased to announce, further to its announcements on May 13, 2021 and August 9, 2021, that the Company has closed the previously-announced private placement C$10,000,000 convertible debentures (the “Debentures“). Funds managed by Delbrook Capital Advisors Inc. (“Delbrook“) subscribed for C$10,000,000 aggregate principal amount of Debentures, for aggregate gross proceeds of C$10,000,000. The Company will pay Delbrook Capital Advisors Inc. a 1.25% arrangement fee on closing of the private placement.

Magna Gold Corp Logo (CNW Group/Magna Gold Corp.)
Magna Gold Corp Logo (CNW Group/Magna Gold Corp.)

The Debentures mature 24 months from the date of issuance (the “Maturity Date“). The Debentures will initially be unsecured obligations of the Company and will bear interest at a rate of 8.5% per annum until the date, on or before September 30, 2021 (or such later date as may be agreed by the Company and the holders), that the security contemplated by the Debentures is delivered to the holders. Following such delivery, if applicable, the Debentures will bear interest at a rate of 6.5% per annum. The principal amount of the Debentures is convertible into common shares of the Company at the election of the holder at any time prior to the close of business on the last business day immediately preceding the Maturity Date at a conversion price of C$1.25 per common share, subject to adjustment in certain events. The interest on the Debentures is convertible, at the election of the holder and subject to the approval of the TSXV, into either cash or common shares of the Company based on the closing price on the day prior to the issuance of a press release relating to the applicable interest payment date and will be paid in full, including in the event of early conversion.

The net proceeds of the Offering are expected to be used by the Company for mobilization and exploration activities across its portfolio. In connection with the Offering, Medalist Capital will receive a finder’s fee consisting of 600,000 common shares of the Company, and 450,000 common share purchase warrants of the Corporation (the “Finder’s Warrants“). The Finder’s Warrants will have a term of 36 months and an exercise price of C$1.25.

The securities issued in connection with the Offering are subject to a four month plus one day hold period, in accordance with the rules and policies of the TSX Venture Exchange (“TSXV“) and applicable Canadian securities laws. The Offering is subject to the final approval of the TSXV.

ON BEHALF OF THE BOARD OF DIRECTORS
Arturo Bonillas
President and CEO

About Magna Gold Corp.
Magna is a Mexico focused gold/silver production company focused on acquiring, exploring, developing and operating quality precious metals properties in Mexico. It is committed to advancing its 100% owned flagship San Francisco Mine and other highly prospective mineral properties located in Sonora and in Chihuahua. The primary strength of the Company is the team of highly experienced mining professionals with a proven track record of developing properties in Mexico from discovery to production. Magna employs community members and services in its operations.

Forward-Looking Information
This news release includes certain “forward-looking statements” which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plans”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information 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, but is not limited to, the Company’s objectives, goals or future plans, exploration results, potential mineralization (including estimates of measured and indicated resources, inferred resources and probable reserves), exploration and mine development plans, production (including gold production expectations and guidance and expectations of becoming a mid-tier producer), processing and mining expectations (including statements regarding expansion and advancement of assets) and strip ratio trends and expectations . Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital, operating and reclamation costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, risks related to the effects of COVID-19 on the Company; and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, 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. The Company 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 law.

Readers are cautioned that the foregoing lists of factors are not exhaustive. Additional information on these and other factors that could affect operations or financial results of the Company are included in reports on file with applicable securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com).

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

The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

SOURCE Magna Gold Corp.

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Royalty Grants Incentive Stock Options

Vancouver, British Columbia–(Newsfile Corp. – August 19, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) announces that pursuant to the Company’s Stock Option Plan, incentive stock options (the “Options”) to purchase an aggregate of 500,000 common shares, exercisable at a price of $3.66 per share for a period of five years, has been granted to certain directors, and a consultant of the Company.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”; and on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93798

Categories
Base Metals Energy Junior Mining Project Generators

Riverside Resources Delineates 3 Projects Within the High Lake Greenstone Belt in Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – August 19, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to provide an update on the work program progressing at the High Lake Greenstone Belt in Northwestern Ontario. The company has successfully delineated three (3) projects which are expected to move ahead with more detailed exploration.

Last year Riverside staked a commanding land position of 230 square kilometers within the High Lake-Shoal Lake Greenstone Belt, containing at least two gold mineralization systems with Riverside controlling the structural geologic and intrusion boundary projections of some exploration projects historically defined. This gold-bearing belt is located immediately east of the Ontario-Manitoba border and has good highway infrastructure and extensive favorable age and types of geology. The region hosts multiple discoveries, such as the Shoal Lake deposit which contains over 347,000 ounces of gold (Inferred and Indicated; 2010, NI 43-101[1] of the KPM total). Riverside’s interest in this belt has been triggered by the positive geological settings and extensive occurrences of mineralization found in the area. Recent and past production in Northwestern Ontario includes mines in the Red Lake, Rainy River and Hemlo gold districts, which collectively total over 130Moz gold. All of these active areas are located in similar greenstone belts in western Ontario. New mines and the resurgence of operations in these three gold camps is part of an overall renaissance for new development and integration of the past knowledge with new interpretations and work in this favorable mining Canadian province.

Riverside’s 3 projects in the High Lake – Shoal Lake Greenstone Belt:

  • Electrum Project: 1,800 hectares
  • Royal Project: 6,150 hectares
  • Canoe Project: 4,260 hectares



Figure 1: Riverside’s claim block within the High Lake – Shoal Lake greenstone belt. Highlights of the three defined projects.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_002full.jpg

Riverside’s President and CEO, John-Mark Staude: “In addition to our active exploration group in Mexico, Riverside is moving forward in Canada not only with the recent deal with iMetal Resources but also with new High Lake Greenstone portfolio of projects that present strong potential for new gold discoveries. Ontario’s greenstone belts have been producing world-class size gold resources and continue to deliver new discoveries like in Red Lake with the Great Bear and Pure Gold companies among a host of others. We are glad to be part of this momentum in northwestern Ontario and to be able to bring three additional 100%-Riverside owned projects with strong discovery potential into our portfolio.“

Electrum Project:

This project has many documented occurrences of gold, copper, and silver at surface, primarily structurally related and hosted within granitoids and at contact with meta-volcanics similar to features in the Manitoba and western Ontario orogenic gold greenstone gold camps. Riverside’s mineral tenure has been previously explored with 4 core drill holes, including an intercept of 0.9 m of 8.99 g/t Au (Internal technical reporting, 2005). Historical soil and rock sampling have reported anomalous grade in gold, copper, molybdenum and silver all of which can be used for vectoring of mineralization and on which Riverside is putting more to. The mineralization on Riverside’s 100% owned property is adjacent and follows the same structures and lithology of the drilled mineralization body found adjacent on the internal concession known as the High Lake Property not on Riverside’s concessions (see Figure 2 below), bringing interest on testing the high-grade targets and system for finding new discoveries associated with this area.



Figure 2: Map Area of Riverside’s Electrum project, showing geology and historical findings across the properties and the adjacent non-compliant Au resource.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_003full.jpg

Royal Project:

Historical exploration of the Royal Project has defined many base metals occurrences with characteristics suggestive of volcanogenic massive sulfide (VMS) mineralization. This project, which lies to the east of the Electrum Project shows variation in geology, including alternating meta-volcanics and meta-sedimentary units folded along a primary E-W axis. Historical data highlights anomalies in base metals and VMS style mineralization at surface and some geophysics surveys by different companies and particularly by Noranda Exploration Company Ltd (1990), which highlighted several strong conductors that have yet to be drill tested. This style of environment has proven favorable in many deposits in Ontario, including the Rainy River Gold deposit located approximately 100 km to the south of the Project.



Figure 3: Focused map for Riverside’s Royal project, showing geology and historical findings across the properties with geological features similar to that of the Rainy River mining area.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_004full.jpg

Canoe Project:

The Canoe project is located along the edge of the main pluton bounding the known Shoal Lake gold deposit to the north which host over 347,000 ounces of gold. The area shows noted anomalies at surface and in drill holes of Cu-Zn-Au especially at the contact between the pluton and the meta-volcanics. As with the other two projects, the Canoe project is located along a key structural feature which is oriented NE and merging into EW to the north of the property. Historical work includes drill holes by Teeshin Resources Ltd., (1988), trenching, surface sampling and EM geophysics. Presence of gold to the southwest of the property is particularly abundant and can be traced into Riverside’s property (see Figure 4 below).



Figure 4: Geologic map of Riverside’s Canoe project, showing geology and historical findings across the properties. This is a portion of the full High Lake Greenstone Area controlled by Riverside Resources.

To view an enhanced version of Figure 4, please visit:
https://orders.newsfilecorp.com/files/6101/93680_3250903d047ce870_005full.jpg

Moving forward, Riverside will be focusing attention on these three projects that all display excellent locations and have the potential to host the geological and structural settings favourable for future discoveries. Field work to date has been positive and the accessibility, favorable geology and presence of large-scale structures makes the High Lake Greenstone Area a key new opportunity for the Company.

Qualified Person & QA/QC:

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 this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

All data represented here from historical reporting, including but not limited to, drill results and resource estimates are historical in nature and require caution readers as the vintage work.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 72M 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

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

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

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

[1] Publication – Technical Report on the Shoal Lake West Project, Northwestern Ontario, Canada Publication Number: 2008 43-101Date: 2008 Author: Valliant, W.W. and Chamois, P., Publisher Name: Scott Wilson Mining for Hays Lake Gold Inc., Reference Location: SEDAR

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93680

Categories
Breaking Junior Mining Precious Metals Uncategorized

Labrador Gold Intersects 44.08 g/t Gold Over 4.28 Metres at Big Vein, Kingsway Project


TORONTO, Aug. 18, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization from its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

Four holes K-21-26, -33, -36 and -39 all contained intervals grading more than 15g/t Au. Hole K-21-39 intersected 44.08 g/t Au over 4.28m from 49 metres which represents a “metal factor” (grade x width) of 188.7 g/t Au x m*, the highest value yet on the Kingsway Property. This intersection included 1.02m grading 81.64 g/t Au and 1.03m grading 96.47 g/t Au and contained 91 grains of visible gold. Hole K-21-36 intersected 15.02 g/t Au over 0.74m from 8.84m. Hole K-21-33 intersected 40.85 g/t Au over 0.4m from 56.15 metres and hole K-21-26 intersected 15.55 g/t Au over 0.5m from 235 metres. A summary of the high-grade intersections, as well as other holes with assays received to date, are given in Table 1 below. *The width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.

Table 1. Assay highlights

HoleFrom (m)To (m)Length
(m)		Au (g/t)Zone
K-21-3949.0053.284.2844.08HTC
including50.3651.381.0281.64
including52.2553.281.0396.47
K-21-367.7912.004.213.64Big Vein
including8.849.580.7415.02
K-21-337.008.001.001.00Big Vein
and50.5051.000.501.04HTC
and53.5054.000.501.55
and56.1556.550.4040.85
K-21-329.0510.121.071.03Big Vein
and62.0067.505.502.21HTC
K-21-2857.5058.501.001.12Big Vein
and175.00176.001.003.17HTC
K-21-2726.0033.007.001.27Big Vein

and46.0051.005.001.31
and70.0071.001.001.14
and105.00106.001.001.28
and115.00117.002.007.43
and121.00122.001.002.65
and128.00129.001.005.07
K-21-2671.0072.001.001.12Big Vein
and235.00235.500.5015.55HTC
K-21-2513.3014.401.101.01Big Vein
and18.0020.002.001.65
and43.0044.001.001.19
K-21-2212.0013.001.001.70Big Vein
K-21-2133.0036.003.002.46Big Vein
and43.0044.001.001.73

**Interval contains visible gold. All intersections are downhole length as
there is insufficient Information to calculate true width.

“The intersection of the near surface high grade gold mineralization in Hole K-21-39 has the highest-grade x width value of 188.66g/t Au x m obtained so far from our drilling at Kingsway. This is significantly better than the previous high of 138.28 g/t Au x m returned from Hole-21-31 and continues to demonstrate the potential for high-grade intercepts at the Big Vein target,” said Roger Moss, President and CEO of the Company. “Three drills continue to explore Big Vein with step out drilling along strike to the southwest and drilling of the high-grade HTC Zone at depth.”

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a0e36f71-b136-4fe3-bfa6-0afa6bfc41c9

https://www.globenewswire.com/NewsRoom/AttachmentNg/4ad000b6-616d-4947-9fa0-8afb6876c7a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/18dc2fe4-4bd2-4214-8270-ca69f8358004

Table 2. Drill hole Collar details

Hole IDEastingNorthingAzimuthDipTotal depth
K-21-3966159654352189048122
K-21-36661596543521812049119
K-21-33661596543521810552157
K-21-32661596543521810557170
K-21-28661562543524413060284
K-21-26661562543524416060266
K-21-25661442543509713045248
K-21-24661562543524432845269
K-21-23661562543524414860233
K-21-22661596543521813045212
K-21-21661603543524912045212.5

Big Vein target

The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined, with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes visible gold in quartz veins, assays of samples from which range from 1.87 g/t to 1,065 g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.

The ongoing 50,000 metre drill program has tested Big Vein over approximately 200 metres of strike length of the 400m surface exposure and to vertical depths of 175 metres. Drilling has produced visible gold in 11 drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.

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 ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. 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 March 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 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. 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 recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $35 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in 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 7.8 g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25 th 2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.

The Company has 151,472,206 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

Categories
Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Acquires Royalty on Caserones Copper-Molybdenum Mine in Northern Chile

To purchase the Caserones Royalty, EMX has formed a 50%-50% partnership with Altus Strategies Plc (“Altus” (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) to acquire an effective 0.836% NSR royalty for US$68.2 million (see below for additional acquisition details). EMX and Altus will each control an effective 0.418% royalty interest and will each be responsible for $34.1 million of the purchase price.

Vancouver, British Columbia–(Newsfile Corp. – August 17, 2021) –  EMX Royalty Corporation (NYSE American: EMX) (TSX: EMX) (FSE: 6E9) (the “Company“, or “EMX“) is pleased to announce that it has entered into an agreement dated August 16th, 2021 to acquire an effective 0.418% Net Smelter Return (“NSR“) royalty on the operating Caserones Copper-Molybdenum Mine (the “Caserones Royalty“) located in northern Chile for US$34.1 million in cash. Closing is anticipated to take place in two phases with both closings being completed by September 1st, 2021. In completing this transaction, EMX expects immediate and long term cash flow from a large porphyry copper-molybdenum deposit in a top tier mining jurisdiction.

To finance its US$34.1 million portion of the US$68.2 million purchase price, the Company has entered into a Credit Agreement (the “Credit Agreement“) with Sprott Private Resource Lending II (Collector), LP (“Sprott“). The Credit Agreement will increase the Company’s current proposed US$10 million credit facility with Sprott, in connection with the Company’s recently announced transaction with SSR Mining (see Company News Release dated July 29, 2021), to US$44 million (the “Credit Facility“) to include financing for the Caserones Royalty acquisition. Further details of the Credit Agreement are provided below.

The acquisition of the Caserones Royalty represents an important strategic development for EMX, by further enhancing the Company’s royalty cash flow and long-term exposure to copper as a key metal for the global economy. Recognition of the opportunity directly resulted from EMX’s ongoing assessment work in the region and serves as another example of how the Company leverages its regional expertise in various jurisdictions around the world to identify value enhancing business opportunities.

Caserones Mine Overview. The Caserones open pit mine is developed upon a significant porphyry copper-molybdenum deposit in the Atacama Region of the northern Chilean Andean Cordillera, 162 kilometers southeast of the city of Copiapó, at an approximate elevation of 4,300 meters above sea level. The Mine is operated by SCM Minera Lumina Copper Chile SpA, which is indirectly 100% owned by JX Nippon Mining & Metals Corporation (“JX Nippon“).

Caserones is located at the southern end of the well documented Maricunga mineral belt and comprises an Early-Miocene porphyry system associated with a cluster of dacite porphyries and breccias intruding Palaeozoic granitic, volcanic, and metamorphic rocks. Caserones has a well-developed supergene enrichment profile of oxide copper and secondary chalcocite that overlies hypogene sulfide (chalcopyrite-molybdenite) mineralization.

Caserones produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathodes from a dump leach, solvent extraction and electrowinning plant. In 2020 the mine produced 104,917 tonnes of fine copper in concentrate, 2,453 tonnes of fine molybdenum in concentrate, and 22,056 tonnes of fine copper in cathodes. The Caserones open pit has operated with an average waste: ore strip ratio of 0.47, has 17 years remaining in its current mine plan, along with excellent exploration potential. In a news release dated November 9, 2020, JX Nippon announced plans for “stepping up exploration efforts in areas around the mine” in an effort to expand production and extend the mine life.

Acquisition Details. The Caserones Mine is subject to a 2.88% NSR royalty provided for in a 2009 agreement between Minera Lumina Copper Chile S.A. as purchaser, and Compañía Minera Caserones (“CMC“) and Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California“) as vendors. CMC and SLM California originally staked the mineral claims that overlie the Caserones deposit, and ownership of the 2.88% NSR royalty is currently divided between CMC (32.5%) and SLM California (67.5%). EMX and Altus will each be indirectly purchasing a portion of the SLM California royalty. Under the 2009 agreement, the NSR interest will be reduced to 2% and 1% if the London Metal Exchange (“LME“) quoted copper price falls below US$1.25 and US$1.00 per pound respectively.‎

EMX and Altus have formed a Chilean company, Minera Tercero, Spa (“Tercero“), of which the EMX and Altus each own 50%. Tercero will purchase 43% of the issued and outstanding shares of SLM California through a Share Purchase Agreement with 16 shareholders of SLM California (represented by Leonel Polgatti Goycoolea, a shareholder) for US$68.2 million. Tercero will enter into a shareholder’s agreement with the selling shareholders of SLM California, that together with Tercero hold approximately 89% of SLM Californa’s issued and outstanding shares, to govern SLM California. SLM California’s sole purpose is to administer the company, pay Chilean taxes and distribute its royalty proceeds to the shareholders, including Tercero.

Sprott Credit Agreement. In order to finance its US$34.1 million portion of the US$68.2 million purchase price under the Share Purchase Agreement, the Company has entered into the Credit Agreement, which encompasses the previously proposed financing related to EMX’s recent transaction to acquire the SSR Royalty Portfolio. The senior secured Credit Facility is in the principal amount of US$44 million, which includes up to US $10 million which will be used to finance a portion of the purchase price of the SSR Royalty Portfolio.

Under the Credit Agreement, the Credit Facility matures on July 31, 2022, bears ‎interest at a rate of 7% per annum, and is secured by general security ‎agreements over the assets of the ‎Company and certain of its subsidiaries, and pledges of the shares of ‎certain of the Company’s ‎subsidiaries, who will, at Sprott’s election, also be guarantors of the loan. In addition to interest ‎payable, ‎the US$44,000,000 advanced under the Credit Facility was subject to an ‎original issue ‎discount equal to 4.61364% of the amount of the advance. Under the Credit Agreement, the ‎Company will be required to maintain minimum unrestricted cash of USD ‎‎$1,500,000. ‎

In conjunction with the Credit Agreement, Sprott ‎subscribed for ‎US$1,235,000 of common shares of the Company (“Common Shares“) at a deemed ‎price equal to a 10% ‎discount to the 5-day VWAP of the Common Shares on the NYSE American exchange immediately prior to July 12, ‎‎‎2021 of $US 3.0450, which resulted in the issuance of 450,730 Common Shares.

Summary. The acquisition of the Caserones Royalty provides immediate enhancement to EMX’s royalty cash flow and secures long-term proceeds from copper and molybdenum production in one of the world’s top mining regions. This transaction nicely compliments the Company’s growing portfolio of royalty interests in South America, which has become a recent emphasis in the Company’s growth strategy.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Categories
Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Second Quarter 2021 Results

August 16, 2021

Related Document

Vancouver, British Columbia, August 16, 2021 (NYSE American: EMX; TSX Venture: EMX; Frankfurt: 6E9) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to report results for the quarter ended June 30, 2021 (“Q2-2021”). The Company’s filings for Q2-2021 are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission’s website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

HIGHLIGHTS FOR Q2-2021

Financial Update

Dollar amount are in CDN unless otherwise noted.

  • EMX ended the three month period at June 30, 2021 with a balance sheet including cash and cash equivalents of $41,979,000, investments, strategic investments, investment in associated entities, and receivables valued at $34,777,000, and no debt.
  • EMX had revenue of $4,255,000 which includes royalty income, other property income including income from the sale or option of property interests and management fees, and interest and dividends earned on cash and investment balances. Included in revenues was royalty income of $284,000 and $3,801,000 for the fair value of equity positions and cash received on the sale and option of property interests. Revenues for Q2-2021 increased compared to Q2-2020 with an increase in option and other property income and interest income. Royalty income for Q2-2021 was comparable to Q2-2020.
  • Royalty generation costs totaled $5,378,000 of which the Company recovered $1,689,000 from partners.
  • General and administrative expenses totaled $979,000 which includes $177,000 in salaries and consultants, $250,000 in administrative costs, $298,000 in professional fees, $71,000 in transfer agent and filing fees, $46,000 in travel, and $137,000 in investor relations costs. General and administrative costs can fluctuate from period to period depending on activity and timing of comparable costs.
  • For the three months ended June 30, 2021, the Company had a net loss from operations of $2,039,000 including $260,000 in depletion, depreciation, and direct royalty taxes, and $2,845,000 in share-based compensation of which $1,479,000 was included in royalty generation costs. Other items affecting net loss and financial results in Q2-2021 include a gain from the Company’s investment in an associated entity of $158,000, a fair value loss on investments of $425,000, and a foreign exchange adjustment of $1,240,000. The foreign exchange adjustment was a direct result of holding cash and net assets denominated in US dollars.

Operational Update

EMX’s royalty and mineral property portfolio totals over 200 projects on five continents. The following summarizes the work conducted in Q2-2021, as well as subsequent events, by the Company and its partners.

  • As a subsequent event, EMX entered into an agreement dated July 29, 2021 with SSR Mining Inc., and certain of its subsidiaries (“SSR Mining”), to purchase a portfolio of royalty interests and deferred payments (see EMX news release dated July 29, 2021). The portfolio consists of 18 geographically diverse royalties, with four royalty assets at advanced stages of project development, and also includes US$18 million in future cash payments. The transaction is expected to provide significant near-term cash flow to the Company and establishes a pipeline of quality royalty assets in numerous well-recognized mineral belts around the world. Completion of the transaction is subject to customary closing conditions, including acceptance by the TSX Venture Exchange.
  • In North America, EMX received provisional payments of approximately US$198,000 from the sale of 110 gold ounces produced at the Leeville royalty property in Nevada’s Northern Carlin Trend. On the royalty generation front, EMX optioned one copper project in Utah while adding new gold and copper projects to the portfolio by staking open ground. Partner companies continued to add value to the portfolio with encouraging drill results for precious metals projects in Nevada (3) and Idaho (1), including Ridgeline Minerals at the Selena royalty property, U.S. Gold at the Maggie Greek royalty property, and Gold Lion Resources at the Robber Gulch project.

    EMX’s royalty and mineral asset portfolio in key mining districts of Ontario and Quebec, including the Red Lake camp, generated $392,000 in cash and fair value equity payments.
  • In Fennoscandia, the Company acquired 37,500 hectares of mineral exploration permits in central Norway that cover the zinc-lead-copper-silver-gold occurrences and historical mines of the Mo-i-Rana district. The transaction with Gold Line Resources and Agnico Eagle closed, by which Gold Line can acquire a 100% interest in Agnico’s Oijärvi gold project in Finland and the Solvik gold project in Sweden for staged cash payments as well as shares of Gold Line and shares of EMX. Agnico will retain a 2% NSR royalty on the projects, 1% (half) of which may be purchased by EMX for US$1,000,000. EMX will receive additional share and cash payments from Gold Line as reimbursement for the EMX shares issued to Agnico. Subsequent to the end of Q2, EMX executed an agreement for the sale of its Svärdsjö polymetallic project in Sweden to District Metals Corp. (TSX-V: DMX) for share equity, annual advance royalty payments, and retained royalty interests to EMX’s benefit. As new acquisitions and deals were completed, partner companies continued to advance EMX’s royalty properties, which included encouraging results from District’s drill program at the Tomtebo polymetallic project in Sweden’s Bergslagen mining district.
  • In Australia, the Company expanded the land positions at the Yarrol and Mt Steadman gold projects through the acquisition of additional permits covering multiple historical drill defined zones of mineralization. Both projects are located in the goldfields of central-Queensland and are available for partnership.
  • In Serbia, Timok operator Zijin Mining Group Co. Ltd. continued on an accelerated development pace of the Upper Zone copper-gold project which is covered by an EMX 0.5% NSR royalty. As a subsequent event, EMX filed an amended and restated Technical Report titled “NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia” on SEDAR authored by Mineral Resource Management LLC with an effective date of December 31, 2020 and report date of July 21, 2021.

CORPORATE UPDATE

EMX is diligently monitoring developments regarding the ongoing coronavirus pandemic (“COVID-19”), with a focus on the jurisdictions in which the Company operates. EMX has implemented COVID-19 prevention, monitoring and response plans following the guidelines of international agencies and the governments and regulatory agencies of each country in which it operates.

EMX’s priority is to safeguard the health and safety of its personnel and host communities, support government actions to slow the spread of COVID-19 and assess and mitigate the risks to business continuity. Although various levels of restrictions remain in place for many jurisdictions where the Company operates (e.g., travel restrictions, etc.), EMX’s field programs are up-and-running principally with in-country based staff.

OUTLOOK

EMX ended Q2-2021 with $42 million in cash, $16 million in tradable securities, $7.7 million in private company equity and warrants, and $4.7 million in strategic investments. The Company continued to complete deals while adding new properties to the royalty generation portfolio, as well as new partners. In addition to the Company’s Q2-2021 successes, as a subsequent event the announcement of the SSR agreement represents an important milestone for the Company, as it seeks to boost its royalty cash flow streams and secure additional long-term optionality in its royalty portfolio.

EMX has been diligently pursuing royalty acquisitions over the last few years in what has been a highly competitive market. EMX has evaluated a large number of royalty purchase opportunities, but has been very selective in its acquisitions, with the Timok, Kaukua, and Gold Bar South royalties being prime examples. EMX sees a similar value proposition with the SSR royalty portfolio acquisition in that it will deliver near-term benefits (i.e. cash flow) as well as long term value to EMX’s shareholders.

The SSR portfolio includes four advanced stage development projects, namely, Gediktepe oxide and sulfide (Turkey), Yenipazar (Turkey), and Diablillos (Argentina), which are complemented by 14 additional royalty interests covering both precious metal and base metal assets in South America, Mexico, the United States (Nevada) and Canada. The SSR royalty portfolio acquisition is well aligned with EMX’s corporate growth strategy, whereby the Company leverages its in-region expertise to identify opportunities in jurisdictions where EMX already has a strategic presence, and hence a competitive advantage. This approach leads to value creation for the Company, as well as synergies with existing EMX initiatives around the world.

Meanwhile the Company’s royalty generation initiatives continued moving forward. EMX’s quick actions led to the acquisition of a 37,500 hectare position covering the historical mines, deposits, and prospects of the Mo-i-Rana polymetallic district in central Norway. This consolidated district-scale package presents enough opportunities to potentially support multiple royalty generation deals. In Australia, EMX expanded its property positions in the goldfields of Queensland at the Yarrol and Mt Steadman projects to yield significantly enhanced property packages available for partnership. In the western U.S., new gold projects were staked in Idaho and Nevada. Fennoscandia, Australia, and the U.S. are stable exploration and mining jurisdictions, and EMX’s royalty generation assets provide prime opportunities for potential partners.

EMX’s established partner companies continued to add value to the portfolio with encouraging drill results. In the western U.S. this included precious metals projects in Nevada (Ridgeline Minerals at Selena and U.S. Gold at Maggie Greek) and in Idaho (Gold Lion at Robber Gulch). In Fennoscandia, most notable were District’s drill success at Tomtebo (Norway) and Norden’s at Gumsberg (Sweden). These drill programs were either conducted with EMX’s technical support, provided on a 100% reimbursed basis, or independently by the partner companies in other cases.

EMX’s value-focused and long-term approach has allowed the Company to maintain its treasury while not overbidding for assets. This strategy allows the company to patiently wait for opportunities like the SSR royalty transaction (and similar future opportunities), which nicely complement its ongoing organic royalty generation. The Company’s progress so far in 2021 signals a number of Company achievements and milestones, and we enter the second half of the year with well-founded optimism for even greater success.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on the United States, Canada, South America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure on EMX Capital (SSR transaction), Serbia, Fennoscandia, Turkey, and Australia.

About EMX. EMX is a precious, base, and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX. See www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 (the ”MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.