Categories
Junior Mining

ANACONDA MINING Intersects 6.45 g/t Gold over 5.0 Metres and 1.89 g/t Gold over 12.0 Metres at Point Rousse Project

TORONTO , Feb. 20, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX.TO) (ANXGF) is pleased to announce the results of a 3,434-metre drill program that began in November, 2018 and included drilling around the Pine Cove mine (Exhibit A and B) and the Stog’er Tight mine (Exhibit C) (“Pine Cove” and “Stog’er Tight” respectively) at the Company’s Point Rousse Project in Newfoundland (“Point Rousse”). A total of 33 drill holes (the “Drill Program”) successfully infilled and extended mineralization near the margins of the existing pit outlines at both mines, as part of an on-going evaluation of potential pit expansions at both Pine Cove and Stog’er Tight. Anaconda extended the strike of the shallow, southern end of the Pine Cove Deposit, by approximately 100 metres, and extended mineralization in the Northwest Extension of the Pine Cove Deposit by 75 metres. At Stog’er Tight, the Company confirmed mineralization, including visible gold occurrences, adjacent to the ultimate pit design, down dip of the current mineral reserves.

Highlights from the Drill Program include:

Stog’er Tight:

  • 6.45 grams per tonne (“g/t”) gold over 5.0 metres (65.0 to 70.0 metres) in hole BN-18-288;
  • 1.89 g/t gold over 12.0 metres (64.0 to 76.0 metres) in hole BN-18-290; and
  • 2.46 g/t gold over 8.0 metres (79.8 to 87.8 metres) in hole BN-18-292.

Pine Cove:

  • 2.50 g/t gold over 9.0 metres (17.0 to 26.0 metres) in hole PC-18-271;
  • 1.73 g/t gold over 9.0 metres (5.0 to 14.0 metres) in hole PC-18-281; and
  • 1.50 g/t gold over 5.0 metre (10.0 to 15.0 metres) in hole PC-18-269.

“We are very pleased with the step-out drilling done at Pine Cove and Stog’er Tight. Based on historical drilling and the current drill results, we see the potential to continue mining on the southern and western side of the Pine Cove pit without compromising our tailings storage activities. In addition, we are encouraged by the possibility of adding more ore on the northern portion of the Stog’er Tight Deposit. In the coming weeks, we will incorporate these drill results into our resource models and determine whether we can extend the mining operations at Pine Cove and Stog’er Tight beyond our existing mineral resource plan.”

~ Dustin Angelo , President and CEO, Anaconda Mining Inc.

Selected highlights from previous drilling in contiguous mineralized zones within the unmined portion of the Pine Cove Deposit include:

  • 8.75 g/t gold over 6.5 metres (15.5 to 22.0 metres) in hole PC-90-078;
  • 2.66 g/t gold over 15.9 metres (6.0 to 22.0 metres) in hole PC-15-257;
  • 2.59 g/t gold over 15.9 metres (41.6 to 57.5 metres) in hole PC-90-036;
  • 2.00 g/t gold over 17.2 metres (22.4 to 39.6 metres) in hole PC-04-133; and 
  • 6.11 g/t gold over 5.0 metres (31.3 to 36.3 metres) in hole PC-92-107.

A table of selected composited assays from the Drill Program is presented below.

In addition to the drilling adjacent to the Pine Cove mine, the Drill Program included 1,812 metres in 12 diamond drill holes (AN-18-06 to 17) to explore the area between the Pine Cove mine and the Anoroc Prospect located approximately 800 metres southwest of the Pine Cove Deposit. Historic channel sampling and several historic diamond drill holes at Anoroc, including 9.92 g/t gold over 2.0 metres in hole AN-90-01, had previously intersected host rocks, alteration and mineralization similar in style and character to those of the Pine Cove Deposit. Drilling at the Anoroc Prospect intersected Pine Cove-like alteration and, locally, low grade mineralization, including 1.11 g/t gold over 5.5 metres (AN-18-13), but did not encounter significant assays to justify further exploration work at this time.

Table of selected composited assays from drill holes reported in this press release:

STOG’ER TIGHT

Hole ID

From (m)

To (m)

Interval (m)

Grade (g/t)

BN-18-287

68.7

71.7

3.0

0.78

BN-18-288

65.0

70.0

5.0

6.45

          and

75.0

78.0

3.0

1.44

BN-18-289

69.0

73.0

4.0

2.70

BN-18-290

64.0

76.0

12.0

1.89

          and

91.5

92.5

1.0

0.48

BN-18-291

72.0

75.0

3.0

5.12

BN-18-292

79.8

87.8

8.0

2.46

Hole ID

From (m)

To (m)

Interval (m)

Grade (g/t)

PINE COVE

PC-18-269

10.0

15.0

5.0

1.50

PC-18-270

25.0

26.0

1.0

1.23

          and

32.0

34.0

2.0

0.67

          and

38.0

40.0

2.0

1.45

PC-18-271

17.0

26.0

9.0

2.50

PC-18-272

31.0

36.0

5.0

0.61

          and

39.0

41.0

2.0

1.05

PC-18-274

39.0

40.0

1.0

0.83

PC-18-275

4.0

6.0

2.0

1.46

          and

11.0

12.0

1.0

0.85

          and

16.0

20.0

4.0

0.89

PC-18-276

2.7

7.7

5.0

0.84

          and

37.0

38.0

1.0

1.36

PC-18-277

5.0

8.0

3.0

0.99

          and

12.0

15.0

3.0

1.91

PC-18-278

8.0

9.0

1.0

1.16

PC-19-280

24.0

27.0

3.0

0.75

          and

30.0

31.0

1.0

0.84

PC-19-281

5.0

14.0

9.0

1.73

PC-19-283

77.0

78.0

1.0

1.07

ANOROC

AN-18-06

15.1

33.1

18.0

1.52

     including

17.1

27.1

10.0

2.35

          and

17.1

18.1

1.0

13.60

          and

35.1

36.1

1.0

0.64

AN-18-13

7.9

9.0

1.1

1.78

          and

31.0

32.9

1.9

0.72

          and

37.0

39.0

2.0

1.09

          and

54.5

60.0

5.5

1.11

     including

57.0

58.0

1.0

4.98

AN-18-14

7.0

8.0

1.0

0.92

This news release has been reviewed and approved by Paul McNeill , P. Geo., VP Exploration with Anaconda Mining Inc., a “Qualified Person”, under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

The company would like to thank the Department of Natural Resources, Government of Newfoundland and Labrador to their assistance in portions of the 2018 exploration drill programs through the support of the Junior Exploration Assistance Program.

All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL , for Au by fire assay (30 g) with an AA finish.

Reported mineralized intervals are measured from core lengths. Intervals are estimated to be approximately 80-100% of true widths.

A version of this press release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.

ABOUT ANACONDA

Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the annual information form for the fiscal year ended December 31, 2017 , available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Exhibit A. A map showing the location of all drill holes drilled as part of the Drill Program in the Pine Cove Area. (CNW Group/Anaconda Mining Inc.)
Exhibit A. A map showing the location of all drill holes drilled as part of the Drill Program in the Pine Cove Area. (CNW Group/Anaconda Mining Inc.)
Exhibit B. A map showing the location of drill holes adjacent to the southern and western portions of the Pine Cove mine. These holes were drilled as part of an on-going evaluation of potential pit expansions at the Pine Cove mine. (CNW Group/Anaconda Mining Inc.)
Exhibit B. A map showing the location of drill holes adjacent to the southern and western portions of the Pine Cove mine. These holes were drilled as part of an on-going evaluation of potential pit expansions at the Pine Cove mine. (CNW Group/Anaconda Mining Inc.)
Exhibit C. A map showing the location of drill holes adjacent to the northern portions of the Stog’er Tight mine. (CNW Group/Anaconda Mining Inc.)
Exhibit C. A map showing the location of drill holes adjacent to the northern portions of the Stog’er Tight mine. (CNW Group/Anaconda Mining Inc.)

SOURCE Anaconda Mining Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2019/20/c3596.html

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

(VIDEO) RIVERSIDE RESOURCES Prospect Generator Plans to Expand Jurisdictions


Dr. John-Mark Staude of President and CEO of Riverside Resources (TSX: RRI | OTC: RVSDF) sits down with Maurice Jackson of Proven and Probable to discuss the company’s successes in 2018 and the projected catalyst’s for 2019. Dr. Staude will provide updates on a number of fronts, new exiting opportunities that look into significantly increase shareholder value.

VIDEO

AUDIO

TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/02/19/prospect-generator-plans-to-expand-jurisdictions.html

Source: Maurice Jackson for Streetwise Reports  (2/19/19)

Maurice JacksonJohn-Mark Staude, president and CEO of Riverside Resources, talks with Maurice Jackson of Proven and Probable about successes in 2018 and the outlook for 2019.

Riverside Resources
Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude, the president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), where knowledge is golden. Dr. Staude, welcome to the show, sir.
John-Mark Staude: Thank you, Maurice.
Maurice Jackson: We brought you on today to highlight some of Riverside Resources successes of last year and the company’s outlook for 2019. But before we begin, for first time listeners who is Riverside Resources?
John-Mark Staude: Riverside is a prospect generator. We’ve been working for 12 years, finding projects and finding partners through the prospect generator business. We’ve been able to expose ourselves to great upside while limiting the downside risk.
Maurice Jackson: You referenced that you are a prospect generator. There’s a lot of ambiguity regarding prospect/project generators, therefore speculators often overlook them in their portfolio. What type of competitive advantages does a shareholder have with a project generator over traditional exploration companies?
John-Mark Staude: I think the first thing is you’ve got a tight share structure, key that other people are spending the money. The second is you get a lot of shots, multiple different projects going simultaneously. Third is you don’t have the management teams that have to continually go back and refinance, so they can be focused on discovery for the shareholders. Those three things make prospect generators one of the better ways to invest in mineral exploration.
Maurice Jackson: Let’s revisit 2018 and share some of the successes of Riverside Resources that will serve as catalysts for 2019.
John-Mark Staude: I think the first thing was that we were able to leverage off of our previous work on copper, so that in 2019 we’ll be able to generate new big strategic alliances. I think the second thing was we signed a letter of intent with Sinaloa Resources, and now in 2019 we’ll have the definitive agreement and the go forward drill program. I think a third thing was the work that we did on Cecilia. High-grade gold mineralization, very good geology. Now in 2019 we can see drilling. So we have lots of catalysts in 2019. We’re really excited about this coming year.
Map
Maurice Jackson: Speaking of 2019, let’s discuss the outlook for this year. What is new and what does Riverside Resources have planned this year?
John-Mark Staude: I believe one of the key things is a new strategic alliance. Getting a strategic partner will be awesome, and I think we have that in our sights. I think the second thing will be drilling. We have now got a definitive agreement progressing with Sinaloa Resources, and we’ll have additional new assets added into the portfolio. We’ll also diversify beyond Mexico. We’ve done well in Mexico, but we’ve also been successful previously in porphyry coppers in Canada and large gold systems in Arizona, and I think in 2019 we’ll again see us diversify beyond Mexico to capture great new opportunities.
Maurice Jackson: I want to expand further on the value preposition of Riverside Resources here. Germane to this discussion are the prices of gold, silver and copper. Twofold question. What are some of the catalysts you see that will change these prices, and what type of impact can we expect that this will have on Riverside Resources?
John-Mark Staude: One of the catalysts we see now is some of the uncertainty around trade and some of the uncertainty particularly in the gold price and with this gold price we actually see that has been rising up; that for us is excellent. We have gold assets in the ground, and gold potential to grow. So I think the gold will be a really key way to do this.
Maurice Jackson: Let’s be a little bit more specific for current and prospective shareholders. What type of competitive advantages does Riverside Resources have in the natural resource space included in this discussion with the prices moving?
John-Mark Staude: One of the competitive advantages we have is knowledge. We have knowledge, we have been able to find gold. We’ve been able to find copper. We’ve been successful. We’ve worked in this region and made discoveries that have then been built into mines. That’s a competitive advantage. The second is we’re all running. We’re in the position, we didn’t have to stop during the downturn times. We’ve been able to continually keep the same strong technical people. I know, Maurice, you’ve actually been out to site, other people come out to site. We can really demonstrate out on site the great development and ease to do the work. I think our turnkey ability has been shown by strategic alliances we’ve done in the past, and many projects we’ve been able to turn over. So in 2019, that creates great chance for catalyst rising gold prices, with potentially rising copper prices, with copper demand from electric cars, other copper usage. Riverside’s in an awesomely great position.
Maurice Jackson: Speaking of site visits, yes, I was there in April 2018 at the Cecilia, and I noticed there a lot of the intangibles that don’t show up on the balance sheet. Could you share some of those with us?
John-Mark Staude: I think one of the ones is relationships. When you come out to the site you can see how well we get along with the local people. I think the second is ease of access, you can see that we have the gate keys, we have the ease to get to the projects, paved roads into the area’s infrastructure. It’s so easy to look at a map, but in reality when you go out and see that you can drive on paved roads, when you have power lines, when you have water, when you have all of that stuff. I think the other intangible is our team. When you can see that we have the people in the back of our company that do the work for many other supporting groups, can really do a good work. Riverside has a sought-after team. I think those are in some of the intangibles that really make Riverside unique.
Maurice Jackson: Speaking of your team, a lot of them are seasoned in their tenure. Talk to us about how many years they’ve been with Riverside.
John-Mark Staude: Riverside’s been going 12 years and some of them been going with us ever since the beginning. Many of them have worked with me before Riverside. I used to work at Teck Resources, prior to that at BHP, and even prior to that back in the 1990s at Magma Copper, and some of these individuals that work with me today worked with me back then. We’ve been friends up to 30 years, and we’ve been able to be involved and we therefore we know we have trust, we know what we can count on, and we know we have the skills that deliver excellent projects, and the excellence to trust in what we’re doing.
Maurice Jackson: Speaking of Mexico, there’s a new president. What type of impact do you foresee the new administration having on Riverside Resources?
John-Mark Staude: It’s interesting, we were a bit concerned initially, back when the elections happened, hearing about socialist different movements and things, but really interesting, since December 1st when he’s been elected, it’s actually been pro capitalism, pro-development. There continue to be noises going back and forth about different issues, and they’ll have to get settled out. But we’re actually quite positive about the new president AMLO, and we’re also quite president about his words and efforts that he says towards helping develop favorability towards investments. So, we actually see that this new administration will be able to be a good push for the mining industry. We’re pretty pleased with what’s happening now.
Maurice Jackson: Switching gears slightly, to make the Riverside Resources project portfolio come to fruition, joint venture partners have to be willing to commit to projects. What is their current level of commitment that Riverside Resources is seeing right now?
John-Mark Staude: Right now, the first thing is the really big strategic alliance we have coming. Second is a drill program and funding with Sinaloa Resources. We’ll come up with the news release coming out quickly here as we finalize the definitive agreement, which we’ve not yet finalized, but we’ll get that done, and that’ll actually be a major program. We’ll also find that we have work on the copper, gold and silver assets, and we’re working on spinning out our transaction for one of our other properties. So, we actually see quite a few number of flows of capital coming in, and quite a few catalysts in 2019 due to the partner spending.
Maurice Jackson: You touched on it briefly, how does amalgamation fit into this narrative, and how realistic is the proposition of amalgamation?
John-Mark Staude: So at this point what we’re talking about is actually taking one of our assets into another company. We’ve been working on it now. Two aspects, one is the capital and the other is the other party, the ability and interest to be able to carry it forward. We’re working on that now, and I think it’s fairly realistic to do. It’s not something that we’ve put all of our eggs into, but it would be a great step for Riverside to give our shareholders another set of shares, another strategic way of increasing shareholder value. I think we have the right team on the other side. This will be a really exciting transaction going forward.
Maurice Jackson: John-Mark, what do you see as the biggest challenge for Riverside Resources, and how would you mitigate that situation?
John-Mark Staude: One of the big challenges is getting more partners in Mexico, and the way we’re mitigating it is by doing work again outside of Mexico, and by doing that we have our skills and we have Freeman Smith, our Vice President, Exploration, lives in Vancouver, knows the Canadian portfolios and Canadian assets, and we live in Vancouver, Canada, so it really fits for us to be able to diversify. That diversification really helps our shareholders as well. It helps us being in Mexico, and leveraging off of our knowledge in other places as well, using our skills. We’re in a great position for 2019.
Maurice Jackson: Let’s touch on the capital structure here briefly. John-Mark, Riverside has a proven record of being a good steward of capital. Remind us how many shares outstanding there are, enterprise value, and where does the company stand financially?
John-Mark Staude: Riverside has almost 45 million shares out, after going for 12 years. That’s remarkable. Financially, we have $1.5 million cash, and the market is actually very low right now. So myself, I’m buying more shares. We’re at a low in the market conditions right now, and I think there’s great upside right now. Our enterprise value is only $5 million. Our market cap is $7 million. We’re in a good situation to have a good leverage to the upside now.
Maurice Jackson: Last question. What did I forget to ask?
John-Mark Staude: Well, you always ask great questions. I think one of the other things is what do we actually see in the next news release? I think the next news release for us will be the signing of a deal. Signing of deals is great. Those are the momentum steps that we like. Also, the addition of a new asset. We’re excited by that. So I think we have two new things coming on, short term, that will really make a difference for Riverside.
Maurice Jackson: Dr. Staude, for someone listening that wants to get more information on Riverside Resources, please share the contact details.
John-Mark Staude: We’re at www.rivres.com, or give us a call at (778) 327-6671.
Maurice Jackson: As a reminder, Riverside Resources trades on the TSX, symbol RRI, and on the OTCQB, symbol RVSDF. As reminder, Riverside Resources is a sponsor of Proven and Probable, and we are proud shareholders of Riverside Resources for the virtues conveyed in today’s message. And last but not least, please visit our website, provenandprobable.com, where we deliver mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Dr. John-Mark Staude of Riverside Resources, thank you for joining us today on Proven and Probable.
Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Want to read more about Gold? Sign up to receive the FREE Streetwise Reports’ newsletter.
 Newsletter Sign-Up

Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Riverside Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Riverside Resources is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click herefor important disclosures about sponsor fees.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Riverside Resources, a company mentioned in this article.
Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
The Information presented in Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this forum without undertaking independent due diligence and consultation with a professional broker or competent financial advisor. You understand that you are using any and all Information available on or through this forum at your own risk.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

EMX ROYALTY Receives Norra Metals Shares for Four Polymetallic Projects in Norway and Sweden

Vancouver, British Columbia–(Newsfile Corp. – February 19, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (“EMX” or the “Company”) is pleased to announce it has received 4,808,770 common shares of Norra Metals Corp. (“Norra”) (TSXV: NORA), representing a 9.9% equity stake in Norra. EMX acquired the shares pursuant to the sale of the Bleikvassli, Sagvoll and Meråker polymetallic projects in Norway, and the Bastuträsk volcanogenic massive sulfide (“VMS”) project in Sweden (the “Projects”), as announced in the Company’s news release dated December 13, 2018.

EMX will retain a 3% net smelter return (“NSR”) royalty on the Projects, as well as other consideration to the Company’s benefit. EMX has also been granted a 1% NSR royalty on Norra’s Pyramid project in British Columbia. The TSX Venture Exchange has approved the details of the transaction and transfer of the Projects from EMX to Norra, subject to customary final filings.

Norra Metals Corp. (previously OK2 Minerals Corp.) is a Vancouver-based exploration company with two projects in British Columbia’s “Golden Triangle”, as well as the four Scandinavian Projects acquired by Norra from EMX. Norra’s management team has considerable experience working in Scandinavia from previous ventures, and EMX will work closely with Norra to ensure timely advancement of the Projects in Scandinavia. Norra and EMX are in the process of obtaining work plan permits for the Projects, and expect exploration work will commence in early spring.

About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

-30-

For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@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/42914

Categories
Junior Mining

GRANITE CREEK COPPER Acquires Extensive Database for the Stu Copper-Gold-Silver Project in Yukon, Canada

VANCOUVER, British Columbia, Feb. 19, 2019 (GLOBE NEWSWIRE) — Granite Creek Copper Ltd. (GCX.V) (“Granite Creek” or the “Company”) is pleased to announce it has secured a substantial historic database detailing exploration work conducted on the area now covered by the Company’s Stu Copper-Gold-Silver Project (“Stu” or the “Project”) by United Keno Hill Mines Ltd. (“UKHM”). As a result of acquiring this comprehensive exploration data, Granite Creek is well positioned to rapidly advance its target development and refinement work for exploration in 2019 in the high-grade Carmacks Copper District. The information consists of complete drill data from a 4,504 metre, 28-hole program including logs, assay results and lithology, plus historical trenching and sampling results including detailed geological mapping and key information on geology, structure and possible mineral controls.

The following provides a concise history and summary of the exploration work now in the Company’s possession. UKHM staked the area and carried out prospecting and reconnaissance soil sampling in the summer of 1976 as well as magnetic and VLF-EM surveys over selected areas. The historic Stu claims were staked in January 1977 to cover areas reporting anomalous in copper as determined by this program. During the 1977 season, UKHM competed soil sampling, as well as additional magnetic and VLF geophysical surveys. An Induced Polarization survey was carried out over several anomalous zones in 1978 and, the following year, 16 bulldozer trenches were excavated across four separate geochemical anomalies.

Follow up work in 1980 included 28 diamond drill holes totaling 4,504 metres. The full results of the 1980 drill program were not reported publicly, except for selective results filed for assessment. Highlights of the 1980 drill program included 3.44% Cu, 1.87 g/t Au and 13.37 g/t Ag over 13.5m in DDH 80-09, 3.51% Cu, 2.49 g/t Au and 18.35 g/t Ag over 13.5 m in DDH 80-14 and 2.80% Cu, 4.04 g/t Au and 17.42 g/t Ag over 12.5 m in DDH 80-18.

Mr. Timothy Johnson, President and CEO, stated, “Acquiring this database has confirmed our belief in the potential of the Stu project and greatly accelerates the Company’s planning for the upcoming field season. Advances made on other deposits in the Carmacks Copper District in the years since UKHM completed this work have led to a greater understanding of mineralizing controls to these high-grade copper-gold-silver deposits. The Company is now positioned to apply this knowledge in combination with modern exploration techniques to rapidly advance the Project and reveal its potential for new high-grade copper-gold deposits in the mining-friendly Yukon Territory. Additional news releases will be forthcoming as we announce the results of our ongoing work including compilation and modeling results, and 2019 exploration plans.”

About Granite Creek Copper

Granite Creek Copper is a Canadian exploration company focused on the 100%-owned Stu Copper-Gold-Silver project located in the Yukon’s Carmacks Copper District, which covers 111 square kilometres adjacent to Capstone Mining’s high-grade Minto Cu-Au-Ag Mine and Copper North’s advanced-stage Carmacks Cu-Au-Ag project.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading exploration companies with a portfolio of large, brownfields assets in established mining districts, adjacent to some of the industry’s highest-grade producers. Member companies include Granite Creek Copper (GCX.V) in the Yukon’s Carmacks Copper District, Metallic Minerals (MMG.V) in the Yukon’s Keno Hill Silver District, and Group Ten Metals (PGE.V) in the Stillwater PGM-Ni-Cu district of Montana. Highly experienced management and technical teams at the Metallic Group have expertise across the spectrum of resource exploration and project development from initial discoveries to advanced development, including a demonstrated commitment to community engagement and environmental best practices. Each Metallic Group company is undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven historic mining districts.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President

Telephone:   1 (604) 235-1982
Toll Free:      1 (888) 361-3494
E-mail:         info@gcxcopper.com

Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca

Quality Control and Quality Assurance

Drill results are considered historic and have not been independently verified by Granite Creek Copper.  Ms. Debbie James, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and she has reviewed and approved the technical disclosure contained in this news release.

Forward-Looking Statements

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.

Categories
Precious Metals

CHRIS MARCUS Does Jeff Christian Stand By These GATA Comments?

Does Jeff Christian Stand By These GATA Comments?
Back in 2011 there was a rather fascinating debate about whether precious metals prices were being manipulated.
Now that a former J.P. Morgan trader has plead guilty to manipulating gold and silver prices, while Deutsche Bank and others have also been caught in the act, I wonder if Jeff Christian still believes the claims he asserted against GATA at the time.
Certainly a fascinating debate to watch even in hindsight for gold and silver investors….


Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com

Categories
Junior Mining

MINERA ALAMOS Receives Additional Gold Sale Proceeds and Prepares for Phase 2 Drilling at the Santana Gold Project, Sonora, Mexico

Toronto, Ontario and Vancouver, British Columbia–(Newsfile Corp. – February 19, 2019) – Minera Alamos Inc. (TSXV: MAI) (“Minera Alamos” or the “Company”)  is pleased to report a further gold sale from residual leaching of its 50,000 t bulk leach test at the Santana gold project in Sonora, Mexico.

A gold/silver sale for the 162 oz of contained gold and 54 oz of contained silver was made resulting in net proceeds of US$213,000 received by the Company.

Although the majority of the recoverable gold has now been extracted from the bulk test material, limited residual leaching continues. The cumulative gold recovered from the bulk test activities to date is as follows:

Total Gold Recovered – 1,060 oz Au

Calculated Recovered Gold – 0.66 g/t Au (based on total mineralized material loaded to the heap leach test area)

As previously stated by the Company (see news release July 26th, 2018) the results achieved from the bulk sample leaching testwork met or exceeded expectations across the range of crush sizes that were tested. The positive results led to the filing in 2018 of permit amendments to allow for the development of a commercial scale operation at the Santana project site. The Company awaits notice of final approval for these permits.

Phase 2 Exploration Planning Complete

Following the successful Phase 1 results achieved in late 2018, the Company has also completed its exploration plans for a Phase 2 exploration and development drilling program at the Santana project. The program is currently planned to total in excess of 10,000 m and is expected to run throughout the year. Phase 2 work will include expansion drilling at the Nicho and Nicho Norte deposits and exploration drilling at a number of high priority targets:

  • Nicho/Nicho Norte – 20-30 infill and step out holes (~4,000m) – Drilling will seek to further expand on the step-out drill holes from Phase 1 drilling that included: 127m grading 0.81 g/t Au and 80m grading 1.05 g/t Au (see news releases dated October 11th, 2018, October 17th, 2018 and November 1st, 2018)
  • Divisadero – 20 holes (3,000m) to follow up on a Phase 1 discovery hole containing 95.7m at 0.85 g/t Au and 0.33% Cu (see news release dated October 25th, 2018) and the subsequent mapping of over 400m of the related porphyry style outcrop and float (announced in the news release dated November 15th, 2018).
  • Zata – 5-10 holes (~1,500m) which will be the first holes in this new breccia pipe discovery (see news release dated October 1st, 2018)
  • Benjamin – 5-10 holes (~1,500m) to further understand historical drilling which yielded results including 2.3 g/t Au & 444.0 g/t Ag over 19.8 m and 0.70 g/t Au over 93.0 m yet has remained undrilled since 2011.
  • Ubaldo – 5-10 holes (~1,500m) to follow up on a historic target with utilizing the new geological models for the project area

All target areas are located within 3km of the currently proposed commercial leach pad area for which the Company awaits notice of approval for permits submitted last year.

For Further Information Please Contact:

Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Website: www.mineraalamos.com

About Minera Alamos

Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress. The Company is awaiting the pending approval of permit applications related to the commercial production of gold at both the Santana and Fortuna projects.

The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.

Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.

Caution Regarding Forward-Looking Statements

This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos’ mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos’ financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos’ activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.

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.

Corporate Logo
Corporate Logo

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42908

Categories
Precious Metals

MILES FRANKLIN Camping Out in Crazy Town

Miles Franklin sponsored this article by Gary Christenson. The opinions are his.
Thoughts:
  • Some economic and political policies have been crazy for so long they almost look sensible.
  • Long-term crazy does not mean policies can’t become sensible again.
  • Gold and silver will preserve wealth and stay valuable for the next 50 years. Not so for dollars, euros, etc.
  • If you are digging a dangerous hole in your finances, health, sanity, or economy, STOP digging.
Every 30—40 years the world goes crazy, takes a deep dive into a shallow rock-filled pond, does a multi-year dance with the Devil, and embraces delusional and nonsensical beliefs. We pay the price in death, debt, and shattered delusions.
  • 1912—1918: WWI, creation of the Federal Reserve, global revolutions, governments failed, and income tax implemented.
  • 1945—1951: Atomic bombs, the hydrogen bomb, India and Pakistan divide, and sunset on the British Empire.
  • 1979—1985: Interest rates in high teens, recessions and bankruptcies, gold and silver bubbles, beginning of a huge bull market in stocks, and rise of the “financialized” economy.
  • 2017—2023: Craziness returns. Governments will fall, currencies will weaken or collapse, socialism will rise, goofy economic and political polices will dominate, and devastating wars may begin.
SOCIAL ISSUES:
An increasing number of people approve of socialism. But many people are fleeing high-tax states that support expensive social programs. States can’t “print” dollars so someone—taxpayers—must pay for those programs. How long can an indebted state remain solvent when the high-income taxpayers are leaving and the “takers” are staying, while demanding more?
From (the brilliant) Thomas Sowell:
“Socialism in general has a record of failure so blatant that only an intellectual could ignore or evade it.”
More Craziness:
“the French National Assembly this week passed an education reform bill which included a controversial amendment to replace all instances of the words ‘mother’ and ‘father’ on official school-related paperwork with the ‘gender neutral’ phrases ‘Parent 1’ and ‘Parent 2’.
Crazy Town exists globally.
The “powers-that-be” (PTB) blame Russia for U.S. problems. Why divert attention toward Russia? Are the PTB hiding things that require a distraction? Hint: Their illegal actions?
Blame toxic masculinity and white males. In years past we blamed Communists, foreigners, Jews, Irish, Germans, Japanese, and others. Are the PTB hiding things that require a distraction? Hint: Failing economic and political policies?
Debt: Borrow from the future to spend in the present because we did not act responsibly in the past. This is a triple failure … three strikes in Crazy Town and you’re out.
  1. fail to act responsibly in the past
  2. irresponsible spending in the present
  3. massive future debt service restricts growth and tax revenues.
The piper must be paid! Governments have ignored this, to their detriment, for centuries.
Economic Craziness:
“The central banks of the world have taken their balance sheets from $2 trillion to $25 trillion in roughly two decades, and all of that is one giant fraud because to buy all those assets… they just made it up. It was fiat credit.”
The Federal Reserve mis-priced risk, and created fake prices in stocks, bonds and real estate. Look out below!
Negative interest rates. Call this what it is—confiscation by a bank. Would you give money to a bank knowing they will repay in a depreciating currency created from nothing by an insolvent central bank? Worse, they guarantee your repayment will be smaller than your initial deposit. If it sounds crazy that’s because it is. But trillions of euros “pay” negative interest. They are Camped out in Crazy Town.
Ever-increasing debt. The U.S. government is (officially) in debt $22 trillion. That debt will either default or be repaid with hyper-inflated currency. Pick your poison and watch paper assets dwindle in purchasing power. Think silver.
QE or Quantitative Easing or Bond Monetization or theft of purchasing power from savings and dollar denominated investments. QE was an emergency measure used to address central bank created problems in the 2008 financial crisis. Now QE appears to be a permanent sink-hole in Crazy Town.
From USA Gold:
“Ominously, San Francisco Federal Reserve president Mary Daly told reporters last week that the Fed is considering quantitative easing as a permanent option in the monetary toolkit…”
QE was ineffective, so we’ll escalate? Well, QE benefited the financial and political elite…
The citizens of the United States would not VOTE to diminish their purchasing power to support central bankers, the financial elite, and the political elite. The Central Banks follow the dictates of the elite and their governments (economic craziness), not the needs of the people.
MMT or Modern Monetary Theory will justify increased spending, huge deficits, and accelerating debt – to pay for social programs and the bureaucracy to implement those programs. What could go wrong?
From The Macro Tourist: MMT’ers believe…
“… the creation of more and more dollars is essential to the functioning of the economy.”
“… the government can always afford to buy anything for sale.”
“The government can always afford to get people jobs and pay wages.”
Full steam ahead on the Crazy Town Express Train to economic and political disaster…
From Ben Hunt:
“MMT is the sovereign-friendly justification for deficit spending without end.”
Pension insolvency. Pension funds, both public and private, are increasingly insolvent. Politicians voted to expand benefits, appease unions, buy elections and dump the obligations onto taxpayers and future politicians. The coming recession will spotlight the problems of insolvent and failing pension plans. Chicago and Illinois are already flailing about in Crazy Town.
The anguished cries for government to “do something” will be heard during the upcoming recession. Governments created those problems but will be unsuccessful correcting them.Some pensions will not be paid.
Unfunded liabilities. The U.S. has $100 – $200 trillion in unfunded liabilities. That money will come from where? Print, borrow, hyper-inflate or raise taxes? Sensible solutions will be unpopular. Think silver.
From Richard Russell:
“…ALL paper is ultimately valued against the only true, intrinsic money – gold. In world history, no irredeemable paper currency has ever survived.”
Even though fiat money never survives, the PTB use it anyway. Crazy Town policies persist until they hit the wall of reality.
Political:
The Socialist agenda is popular. Expect higher taxes, calls for a Universal Basic Income (UBI), jobs for everyone unless they don’t want to work, Medicare for all, free tuition, and more delusional programs.
AOC declares victory: Work = slavery?
“I thought it was a good thing that Amazon was coming to New York and wanted to give us money,” Ocasio-Cortez told the press. “But then I found out they were going to extort people and only give them the money if they worked for it. Forcing people to work if they want to get paid—how is that any different from slavery?”
“Alexandria Ocasio-Cortez push for higher taxes to fund her Green New-Deal is just the tip of the iceberg.”
Is this the iceberg that the US Titanic is approaching?
If government can’t pay its bills now, why add to the problem by implementing an expensive socialist agenda with higher taxes, excessive debt, and more government controls?
Camping out in Crazy Town makes no sense… but here we are. Ask yourself:
  • Can government create wealth and prosperity by taxing and spending? Maybe only for the top 0.1%?
  • Will more spending, increased benefits and larger government occur without negative consequences?
  • Will government and central bank actions, including MMT, QE, and a UBI devalue the dollar further?
  • Do you own several Senators on “speed dial?”
If the answers to these questions worry you, consider silver and gold “insurance policies” against loss of fiat currency purchasing power.
Silver is inexpensive. Buy it for peace of mind, purchasing power protection, and “insurance” against the inevitable devaluation of fiat currencies.
Miles Franklin sells “silver insurance” and can arrange storage in non-bank vaults. Call them at 1-800-822-8080.
Trying to escape from Crazy Town…
Gary Christenson, The Deviant Investor
Archived Newsletters
Market Report 2/15/2019
Archived Newsletters
Market Report 2/15/2019

About Miles Franklin
Miles Franklin was founded in January, 1990 by David MILES Schectman. David’s son, Andy Schectman, our CEO, joined Miles Franklin in 1991. Miles Franklin’s primary focus from 1990 through 1998 was the Swiss Annuity and we were one of the two top firms in the industry. In November, 2000, we decided to de-emphasize our focus on off-shore investing and moved primarily into gold and silver, which we felt were about to enter into a long-term bull market cycle. Our timing and our new direction proved to be the right thing to do.
We are rated A+ by the BBB with zero complaints on our record. We are recommended by many prominent newsletter writers including Doug Casey, Jim Sinclair, David Morgan, Future Money Trends and the SGT Report.
For your protection, we are licensed, regulated, bonded and background checked per Minnesota State law.
Miles Franklin
801 Twelve Oaks Center Drive
Suite 834
Wayzata, MN 55391
1-800-822-8080
Copyright © 2019. All Rights Reserved.
Categories
Base Metals Junior Mining Precious Metals Project Generators

RIVERSIDE Signs Definitive Option Agreement and Receives Cash and Shares From Partner

VANCOUVER, British Columbia, Feb. 19, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (RVSDF) (R99.F), is pleased to announce that partner Sinaloa Resources Inc. has entered into a Definitive Agreement (the “Agreement”) signed on January 30, 2019 that begins with an Initial Option to acquire a 70% interest in the La Silla Project (the “Project”). Sinaloa Resources has issued Riverside 1,000,000 common shares and now paid $60,000 total in cash. Riverside and Sinaloa Resources expect the commencement of a first phase $300,000 exploration program in the coming months, as per the Agreement (see Table 1 below).

Under the terms of the Agreement, the Initial Option to earn 70% is predicated upon the issuance by Sinaloa Resources of shares at a value of $1,000,000, $60,000 in cash payments and exploration work totaling $2,000,000 over 36 months (see Table 1 below).

Riverside’s President and CEO, John-Mark Staude, stated: “We are pleased to move forward with Sinaloa Resources in the La Silla precious metal district in Sinaloa, Mexico. The last exploration and drilling program at La Silla intersected high grades and we look forward to operating and collaborating with our partner to build on historical success in this district.”

Riverside has completed extensive generative prospecting work at the Project including rock-chip and grab samples up to 19.9 g/t Au and 200 g/t Ag. Riverside’s previous work programs focused on extending known areas of mineralization, such as the Ciruelo and El Roble veins (see press release June 19, 2018). Further property-wide exploration also successfully identified new showings, structures and historical abandoned workings as part of the Company’s generative work aimed at developing additional exploration target areas to increase the pipeline of new discovery targets at La Silla.

Sinaloa Resources is currently a privately held company and intends to pursue a listing transaction on either the TSX Venture Exchange (“TSXV”) or the Canadian Securities Exchange (“CSE”) within 12 months of execution of the Definitive Agreement. The Agreement also includes several provisions that protect Riverside in the event of early termination or a late listing transaction.

Table 1: Initial Option – Sinaloa Resources to acquire 70% interest in La Silla

Due Dates Cash
Payments		 $ Value of
Shares to be
Issued		 Exploration
Expenditures
Upon Execution of the LOI $25,000 Nil
Upon Execution of the Definitive Agreement $35,000 $100,000
12 Months from the Date of the Definitive Agreement $100,000 $300,000
24 Months from the Date of the Definitive Agreement $100,000 $700,000
36 Months from the Date of the Definitive Agreement $700,000 $1,000,000
Total: $60,000 $1.000,000 $2,000,000
All amounts in Canadian dollars

Additional Agreement Details:
To earn an additional 30% (the “Additional Option”), Sinaloa Resources must incur a further $1,000,000 in exploration work and issue Riverside additional Sinaloa Resources shares at a value of $500,000. Riverside will retain a 3% NSR on the Project should Sinaloa Resources complete 100% earn-in, or Riverside’s interest dilutes to less than 10%.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the La Silla Project 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 in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico 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 additional properties available for option, with more 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 ext. 312
TF: (877) RIV-RES1 ext. 312
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.

Categories
Junior Mining

NxGold Provides Exploration Update

CNW Group
  • Seeking to resolve Kuulu access issues
  • Programmes of Work pending approval for Roe Gold Project
  • Application for Excess Tonnage approved

VANCOUVER , Feb. 19, 2019 /CNW/ – NxGold Ltd. (“NxGold” or the “Company“), (TSXV: NXN) is pleased to provide exploration activity guidance for the first half of 2019. Meeting requests, applications and notices required for the execution of exploration activities throughout 2019 have been submitted to the appropriate regulatory bodies and organisations. The expectation is that in 2019 NxGold will be able to resolve the current inability to explore at its Kuulu project in Nunavut and at the same time will advance select targets at the Mt. Roe Gold Project to the drill evaluation stage of exploration.

Kuulu Project:

The Kuulu Project has received a positive Nunavut Planning Commission (NPC) conformity decision, a positive Nunavut Impact Review Board (NIRB) decision and a Type B Water License from the Nunavut Water Board (NWB) for water use for camp and drilling purposes. In addition, a land use license from the Lands Department of the Kivalliq Inuit Association (KIA) is required for NxGold to undertake exploration activities on the Kuulu project area. This licence has not yet been obtained but the Company continues to work with the KIA and the local community in an effort to obtain the necessary licence which has been granted the previous seven years on the same tenements. The underlying Earn-in Agreement with Meliadine Gold Ltd. (private) is in good standing and remains under force majeure until the Company can access the ground under the Land Use License terms. The underlying Mineral Exploration Agreement with Nunavut Tunngavik Inc. also remains in good standing with rents paid up to date with expenditure requirements under force majeure due to the inability to undertake work.

Mt. Roe Gold Project: Prinsep tenements:

Programme of Work applications (‘PoW’) have been submitted that contemplate activities including detailed soil sampling across the 1.8 km length of the horizon of interest that has previously returned two roughly 500 m sections hosting elevated gold values in rock grab samples (see News Releases dated: January 22, 2019 and December 18, 2018 ). Subsurface evaluation using rotary air blast drilling is also contemplated by the PoW submission.

Mt. Roe Gold Project: Sholl tenements:

PoW applications have been filed for work that covers trenching for shallow high-grade mineralisation in the Kangaroo, Hawk, Eagle and Upper Pineapple areas and rotary air blast drilling in the Eagle area. Proposed work on these tenements includes silt sampling drainages on the recently granted tenements (see News Release dated: December 18, 2018 ), initial and additional soil sampling in the Crow, Eagle, and Hawk areas. Evaluation of induced polarisation geophysics to refine targets on known auriferous structures may also be undertaken.

In addition, the Company is pleased to report that it has received approval of its applications for the ability to remove excess tonnages of material from the Mt. Roe tenements from the Western Australian Department of Mines, Industry Regulation and Safety. These approvals will allow the company to undertake disturbance works significantly in excess of the volumes normally allowed under prospecting licences.

The above work programs on the Mt. Roe Gold Project are designed to refine targets for potential drilling evaluation by midyear.

The Company is planning to commence field work by mid-March on the assumption that all the necessary applications are approved in time.

Christopher McFadden , Chief Executive Officer, commented, “We are looking forward to progressing discussions with the KIA in Nunavut with the objective of being able to obtain the necessary licence so we can commence exploration on the exciting Kuulu project as soon as we can. We are highly aware of the issues raised by the community and are hopeful we can reach a mutual understanding that will allow our proposed activities to commence. In Australia we are looking forward to continuing the detailed and systematic exploration approach on the recently granted tenements and are hoping to start work as soon as conditions in the field are cooler and all necessary applications and paper-work has been completed with the relevant authorities.

Figure 1: Locations of proposed activities; silt sampling on new grants, gridded soils (orange), soils/air core/RAB (red), and trenching (magenta) leading to potential further mid-year drilling. (CNW Group/NxGold Ltd.)
Figure 1: Locations of proposed activities; silt sampling on new grants, gridded soils (orange), soils/air core/RAB (red), and trenching (magenta) leading to potential further mid-year drilling. (CNW Group/NxGold Ltd.)

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

About NxGold

NxGold is a Vancouver-based exploration company. The Company owns 80% of the Mt. Roe gold project located in the Pilbara region of Western Australia. The Company has also entered into an earn-in agreement with Meliadine Gold Ltd. to earn up to a 70% interest in the Kuulu Project (formerly known as the Peter Lake Gold Project) in Nunavut .

Technical Disclosure

NxGold advises that the Mt Roe Gold project is an early stage exploration project and there is no certainty of the discovery nor definition of a mineral resource.

The scientific and technical information in this news release has been prepared or approved by Darren Lindsay , P.Geo., Vice President Exploration and Development, of the Company, a “qualified person” within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.Although efforts have been made to review the historical soil data the sample location nor values have been verified by the qualified person as of the date of this release and therefore readers are cautioned about interpretations of that data.

Cautionary Statement Regarding “Forward-Looking” Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to activities, events or developments that the Company expects or anticipates will or may occur in the future including whether the proposed acquisition will be completed. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Such forward-looking information and statements are based on numerous assumptions, including among others, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s planned exploration activities will be available on reasonable terms and in a timely manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual events or results in future periods to differ materially from any projections of future events or results expressed or implied by such forward-looking information or statements, including, among others: negative operating cash flow and dependence on third party financing, uncertainty of additional financing, no known mineral reserves or resources, reliance on key management and other personnel, potential downturns in economic conditions, actual results of exploration activities being different than anticipated, changes in exploration programs based upon results, and risks generally associated with the mineral exploration industry, environmental risks, changes in laws and regulations, community relations and delays in obtaining governmental or other approvals.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

NxGold Ltd. (CNW Group/NxGold Ltd.)
NxGold Ltd. (CNW Group/NxGold Ltd.)

SOURCE NxGold Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2019/19/c5821.html

Categories
Blog

ARCADIA ECONOMICS Russia To Lead New OPEC Pact?

The latest trend away from the dollar includes an effort by Russia to reshape the landscape of OPEC.
Which certainly given the other actions of Russia in the past year continues to demonstrate their frustration with U.S. and the current Wall Street system.
To find out more, click to watch the video now!

Chris Marcus
Arcadia Economics
“Helping You Thrive While We Watch The Dollar Die”
www.ArcadiaEconomics.com

Share
Tweet
Forward