Categories
Junior Mining

ALLEGIANT Reports Commencement of Drilling at its Monitor Hills Gold Project

VANCOUVER, British Columbia, Jan. 29, 2019 (GLOBE NEWSWIRE) — Allegiant Gold Ltd. (“ALLEGIANT”) (AUAU:TSX-V) (AUXXF:OTCQX) is pleased to report that drilling has commenced at its Monitor Hills gold project in Nevada. ALLEGIANT is drilling a total of six “discovery potential” projects located principally in the world-class gold mining jurisdiction of Nevada, over a 10-12-month period to approximately June 2019. The drilling campaign was initiated at the Red Hills project in August 2018; Monitor Hills is the 4th project to be drilled.

Monitor Hills is 100% owned by ALLEGIANT and is located approximately 35km east-southeast of Tonopah, Nevada. ALLEGIANT began drilling at Monitor Hills in late January 2019; 10-12 rotary drill holes, totaling up to 2,150 meters are planned. Drilling is focused on geochemical gold anomalies determined by surface sampling.

ALLEGIANT performed detailed geologic mapping, completed grid geochemical surveys, and collected over 250 samples of outcrop and float at Monitor Hills. Surface sampling identified eight new target areas where gold values in outcrop exceed 1 g/t gold. Several gold anomalies (values from 20-245 ppb gold) were identified in mostly covered areas that are up to 300 metres long and 100 metres wide.

The target at Monitor Hills is Carlin-type gold mineralization in Cambrian and Ordovician sedimentary rocks. Gold occurs in replacement silicification (jasperoid) of carbonate rocks, or along iron-stained fault zones. The mineralized faults trend mainly north, but northeast and northwest trending structures are also mineralized. A buried Tertiary diorite intrusive body, believed to be shallow under blow sand and sand dunes, occurs just west and southwest of the claim block.

A geology map showing the location of proposed drill sites can be viewed at the following link:

www.allegiantgold.com/nr/2019-01-29-map.pdf

Qualified Person
Andy Wallace is a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists and is a Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Wallace has reviewed and approved the technical content of this press release.

ABOUT ALLEGIANT
ALLEGIANT owns 100% of 12 highly-prospective drill-ready gold projects in the United States, 9 of which are located in the mining-friendly jurisdiction of Nevada. ALLEGIANT is one of the most active explorers in the gold sector; three projects with “discovery” potential have been drilled since August 2018, and at least four more are planned to be drilled in 2019. ALLEGIANT’s flagship Eastside project hosts a large and expanding gold resource, is district scale, and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.

Further information regarding ALLEGIANT can be found at www.allegiantgold.com

ON BEHALF OF THE BOARD,

Robert F. Giustra
Chairman

For more information contact:

Investor Relations
(604) 634-0970 or
1-888-818-1364
ir@allegiantgold.com

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.

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook. Forward-looking statements in this and other press releases include, but are not limited to statements and information regarding: Allegiant’s property holding costs savings or income generated from optioning out certain properties; Allegiant’s drilling and exploration plans for its properties, including anticipated costs and timing thereof; the potential of hosting good grade gold mineralization or expansion; Allegiant’s belief with respect to North Brown anomalies and the related transportation of mineralized fragments, including the discovery of the source of the mineralized breccia fragments; Allegiant’s plans for growth through exploration activities, acquisitions or otherwise; and expectations regarding future maintenance and capital expenditures, working capital requirements; and Barrian’s plan to complete an initial public offering and its acquisition of certain properties. Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s profile at www.sedar.com. Actual results and future events could differ materially from those anticipated in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Categories
Base Metals

WESTERN URANIUM & VANADIUM CORP. Ranked 8th on 2019 OTCQX Best 50

TORONTO and NUCLA, Colo., Jan. 28, 2019 (GLOBE NEWSWIRE) — Western Uranium & Vanadium Corp. (CSE:WUC) (WSTRF) (“Western” or the ”Company”) is pleased to announce it finished eighth (8th) on the 2019 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market.

George Glasier, Western’s CEO, commented, “We are pleased to be recognized by OTC Markets and our shareholders, who during 2018 confirmed the substantial value of Western’s vanadium/uranium resource and near-term developed mines. Last year’s efforts have enhanced the Company’s opportunity set by positioning Western to re-open the Sunday Mine Complex which will catalyze vanadium and uranium operations. We look forward to a great 2019 and the continued pursuit of enhancing long-term shareholder value.”

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market.  The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year.  Companies in the 2019 OTCQX Best 50 were ranked based on their performance during calendar year 2018. For the complete 2019 OTCQX Best 50, please visit:  https://www.otcmarkets.com/files/2019_OTCQX_Best_50.pdf.

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws and have a professional third-party sponsor introduction. The companies found on OTCQX are distinguished by the integrity of their operations and diligence with which they convey their qualifications.

About Western Uranium & Vanadium Corp.

Western Uranium & Vanadium Corp. is a Colorado based uranium and vanadium conventional mining company focused on low cost near-term production of uranium and vanadium in the western United States, and development and application of ablation mining technology.

FORWARD LOOKING STATEMENTS AND CAUTIONARY NOTE
This news release may contain forward-looking statements that are based on the Company’s expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made.

FOR ADDITIONAL INFORMATION, PLEASE CONTACT:

George Glasier, President and CEO; 970-864-2125; gglasier@western-uranium.com        
Robert Klein, Chief Financial Officer; 908-872-7686; rklein@western-uranium.com

Categories
Junior Mining Precious Metals

METALLIC MINERALS Reports High-Grade Silver, Lead, Zinc, and Copper Results from 2018 Exploration Program at the McKay Hill Project in Yukon Territory

January 28, 2018, Vancouver, B.C., Metallic Minerals Corp. (TSX-V: MMG; US OTC: MMNGF) (“Metallic” or the “Company”) announces additional high-grade results from the 2018 exploration programs conducted at its 100% owned McKay Hill Project, located 50 kilometers north of the historic Keno Hill Silver District in the Yukon Territory, and adjacent to ATAC’s Rackla property. Although earlier stage than the Company’s Keno Silver Project to the south, Metallic see’s similar potential for a district scale high-grade silver-lead-zinc-copper system at McKay Hill based on results to date including:
  • Total of 37 vein structures identified on the property to date, with the discovery of 18 new silver-lead-zinc-rich structures in 2018, with 61 samples ranging 1,000 to 4,326 g/t silver equivalent;
  • The outline of six kilometer-scale areas of highly elevated silver, lead, zinc, copper and gold in soils and rock sampling; and
  • Advancement of the Central Zone targets to drill-ready stage along with demonstration of the potential to host bulk-tonnage mineralization.
The McKay Hill Project occurs within a belt of silver-lead-zinc related deposits that stretches from the Alaska border to the southern part of the Yukon and includes the famous Keno Hill Silver District. McKay Hill was discovered in the 1920s and had production in the 1940s of high-grade material from the No. 6 Vein Corridor grading 390.8 g/t Ag and 74.1% Pb.1 With at least 37 vein structures (including the 18 new structures discovered in 2018) which have only seen limited exploration, the area shows potential to host a significant district-scale vein system similar to Keno Hill.
Metallic CEO and Chairman, Greg Johnson, stated, “We are very pleased to report these additional rock and trenching results from our 2018 exploration program at the McKay Hill Project, which significantly advanced the project with 18 newly defined vein structures, including some spectacular bonanza grades. To date, a total of 61 rock samples have exceeded 1,000 g/t silver equivalent values with values up to 4,326 g/t silver equivalent in rock samples and up to 2,126 g/t silver equivalent over 2 meters in channel sampling.  Work in 2018 has identified 6 separate kilometric-scale target areas with high-grade silver values along with associated lead, zinc and copper mineralization covering an area approximately 3 kilometers by 1.5 kilometers wide in soil and rock sampling (See news release December 4th, 2018, Metallic Minerals Identifies Multiple Kilometer-long Anomalies at McKay Hill, Yukon Territory). These results have significantly expanded the areas of known mineralization but cover only a small portion of the 44 square kilometer property, supporting the potential for the discovery of additional mineralized targets in future programs. This year’s program successfully achieved the key objectives of expansion of the main Central Zone target through trench, rock and soil sampling and identifying and refining six additional kilometric-scale target zones, including the West McKay, Bella, Red, Falls and Snowdrift and Independence Zones (see Figure 1). A comprehensive exploration program is being planned for 2019 at McKay Hill in coordination with the Company’s Keno Silver Project exploration activities. We look forward to providing additional updates on Metallic’s portfolio of projects in coming weeks.”
Central Zone Target Area
The Central Zone was the focus of historic exploration, and production occurred from a small area of the No. 6 Vein within the Central Zone. Exploration work in 2018 has substantially expanded the number of the Central Zone vein exposures, and understanding thereof, resulting in the identification of high-quality targets for drill testing. Importantly, this year’s program has demonstrated that the historically productive No. 6 Vein is part of a much larger system of vein structures than had been previously recognized, now termed the No. 6 Vein Corridor.  At least 20 major north-northeast-trending vein structures have been identified in the Central Zone along with northeast-trending stockwork zones in what is now interpreted to be a >1 kilometer-long by 250-metre-wide mineralized corridor that remains open to expansion at both ends (see Figure 1 inset).
The northeast-trending No. 6 Vein Corridor consists of widespread, near-vertical, high-grade silver-bearing massive sulfide veins. Very high combined silver and gold grades occur where these veins intersect with the numerous NNE trending gold and copper enriched veins. To date, 35 samples in the Central Zone have exceeded 1,000 g/t silver equivalent (“Ag Eq”) values, demonstrating the potential for high-grade mineralization in these vein systems (see Table 2 values from 2018 sampling). In addition, as part of the exploration program in 2018, a portable excavator was used to trench across key vein intersections to allow for detailed mapping of the structures, including their orientations and true thickness, and to better understand their relationships with the underlying geology (see Figure 2).  Sample results from the trenches that indicate these features, returned composite mineralized widths of up to 16 m of 321 g/t Ag Eq and 7.3 m at 542 g/t Ag Eq with both trenches internal to the mineralized boundary, suggesting the potential for significantly broader packages of bulk tonnage mineralization. The small size of the equipment and topographic limitations did not allow for longer trenches to test across the entire 250 m wide mineralized zone in 2018, but such sampling will be a priority in future programs.
Bella and other Surrounding Target Areas
In addition to the work on the Central Zone, exploration on the surrounding areas included the West McKay, Bella, Falls, Red, Independence, Snowdrift, Nash and White Hill targets. Work in these target areas focused on systematic soil grid sampling, along with rock sampling within the identified zones of interest. Results of the 2018 field program have revealed more than a dozen newly discovered vein structures in new areas for follow with seven rock samples returning greater than 500 g/t Ag equivalent values.
Analytical metal values from the 2018 assays provide encouraging results and select assays from all surface related sampling activities at the McKay Hill Project are presented in Table 2. Select sample results from these veins, highlighted in grey, show elevated silver, gold, copper, lead and zinc numbers. These veins returned promising results for initial sampling efforts on new discoveries.
Figure 1: Mineralized Zones, Rock Chip Samples and Soil Sample Locations from the 2018 Field Program

Table 1: Central Zone Target Area Highlight Rock Sample Assays from 2018 Field Program.
Most significant values are shown in red

Silver Equivalent values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, Cu $3.00/lb and 100% recovery
Table 2: 2018 Surface Sample Results from McKay Hill Project on Surrounding Target Areas.
Results of new vein discoveries are shaded in gray. Most significant values are shown in red

Silver Equivalent values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, Cu $3.00/lb and 100% recovery
Figure 2: Trench Assay Locations and Results from the Central Zone Target Area

Table 3: Sample Results from 2018 Reconnaissance Survey of Outlying Target Areas. Most significant values are shown in red.

Silver Equivalent (Ag Eq g/t) values assume Ag $16/oz, Pb $1.10/lb, Zn $1.25/lb, Au $1,250/oz, Cu $3.00/lb and 100% recovery.
Next Steps
While compilation and analysis of the new results is ongoing, the Company envisions the following next steps for the McKay Hill Project:
  1. Continued reconnaissance and prospecting of the broader project area including the 42 new claims staked in 2018;
  2. Continued mapping, soil sampling and trenching activities to extend the six identified target areas as well as to expand covered with new soil grids over additional targets and extensions of current open anomalies; and
  3. Refinement of targets on the Central Zone mineralization for initial drill testing focused on the No. 6 Vein Corridor to assess the composite grades over the length and width of the kilometric scale corridor.
Upcoming News and Events, Including Sample Display at AMEBC Roundup
Metallic will be participating in the 2019 AMEBC Mineral Roundup Event in Vancouver. Investors are invited to view samples from the Keno Silver and McKay Hill projects at booth #1009 in the Exhibit Hall for the duration of the show, and will be at the PDAC convention in March in Toronto, among other upcoming shows.
The Company looks forward to releasing additional results from the Keno Silver Project in coming weeks.
About the McKay Hill Project
The 100% owned McKay Hill Project covers 44 km2 within a belt of silver-lead-zinc related deposits that stretch from the Alaska border to the southern part of the Yukon and includes the famous Keno Hill Silver District, approximately 50 kilometers to the south. McKay Hill is a historic high-grade producer that shows potential to host a significant district scale vein system like Keno Hill, with at least 37 identified mineralized vein structures that have seen very limited modern exploration. Recent field work conducted by Metallic Minerals has confirmed high grades of silver, lead and zinc as well as significant associated gold and copper values. Targets include both high-grade structurally controlled mineralization as well as potential bulk tonnage mineralization.
All 2018 rock and soil samples collected on the property were processed at Bureau Veritas Mineral Laboratories in Vancouver British Columbia.
1 – Geological and Geochemical Evaluation Report on the McKay Hill Project, Jean Pautler, P.Geo. JP Exploration Services Inc., 2009
About Metallic Minerals Corp.
Metallic Minerals Corp. is a growth-stage exploration company focused on the acquisition and development of high-grade silver and gold in the Yukon within under-explored districts with potential to produce top-tier assets. Our objective is to create value through a disciplined, systematic approach to exploration, reducing investment risk and maximizing probability of long-term success. Our core Keno Silver Project is located in the historic Keno Hill Silver District of Canada’s Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world’s highest-grade silver resources. The Company’s McKay Hill Project, northeast of Keno Hill, is a high-grade historic silver-gold producer. Metallic Minerals is also building a portfolio of gold royalties in the Klondike Gold District. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade silver, platinum and palladium, and copper producers. Member companies include Metallic Minerals (TSX-V: MMG) in the Yukon’s Keno Hill Silver District, Group Ten Metals (TSX-V: PGE) in the Stillwater PGM-Ni-Cu district of Montana, and Granite Creek Copper (TSX-V: GCX.H) in the Yukon’s Carmacks copper district. 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 strong project finance and capital markets experience and have demonstrated a commitment to community engagement and environmental best practices. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers and are 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:
Website:  www.metallic-minerals.com
Email: chris.ackerman@metallic-minerals.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420
Quality Assurance / Quality Control
Analytical work in 2017 was done by Bureau Veritas Commodities Canada Ltd. with sample preparation in Whitehorse, Yukon and geochemical analysis in Vancouver, British Columbia. Each rock (grab) sample was analyzed for 36 elements using an Aqua Regia digestion with inductively coupled plasma-atomic emission spectroscopy (ICP-AES) and inductively coupled Plasma-mass spectrometry (ICP-MS) (AQ202). Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish (FA530-Ag, Au). Over-limit lead and zinc samples were analyzed by multi-acid digestion and atomic absorption spectrometry (MA404) or titration (GC516, GC8917). All results have passed the QAQC screening by the lab.
Qualified Person
Scott Petsel, P.Geo, Vice President, Exploration and an employee of Metallic Minerals Corp., is a Qualified Person as defined by National Instrument 43-101. Mr. Petsel has reviewed the scientific and technical information in this news release and approves the disclosure contained herein. Mr. Petsel has reviewed the results of the sampling program and confirmed that all procedures, protocols and methodologies used in the drill program conform to industry standards.
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 Metallic Minerals 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 Metallic Minerals 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.
Copyright © 2019 Metallic Minerals Corp, All rights reserved.
You are receiving this as a subscriber.
Our mailing address is:

Metallic Minerals Corp

904-409 Granville St

Vancouver, BC v6b1t7

Canada
Categories
Base Metals Junior Mining Precious Metals Project Generators

EMX ROYALTY Congratulates Boreal on New High Grade Zinc-Silver-Lead-Gold Drill Results at the Gumsberg Royalty Property in Sweden

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce Boreal Metals Corp.’s (“Boreal”) recent diamond drill results and the discovery of a high grade zone of zinc-silver-lead-gold mineralization at EMX’s Gumsberg royalty property. EMX is a royalty holder on the Gumsberg project, and currently owns a 9.4% equity interest in Boreal. Gumsberg is located in the Bergslagen mining district of southern Sweden. The drill results include 11.00 meters averaging 5.90% zinc, 239.0 g/t silver, 2.51% lead, and 0.96 g/t gold in hole GUM-18-003, and 11.01 meters averaging 7.45% zinc, 275.1 g/t silver, 2.65% lead, and 0.77 g/t gold in hole GUM-18-004 (true widths estimated at 50% of reported interval lengths). EMX congratulates Boreal on its new high grade discovery, termed the South Zone, and looks forward to further advancement of the Company’s Gumsberg royalty interests.

Boreal reported results from the first four holes of its recently completed nine hole, 1,620.8 meter winter drill program, including GUM-18-003 and GUM-18-004, which intersected South Zone massive sulfide mineralization east and west of previously reported hole BM-17-005 (10.94 meters averaging 16.97% zinc, 656.7 g/t silver, 8.52% lead, and 0.76 g/t gold; true width estimated at 20-50% of reported interval length). The South Zone occurs near the historic Östra Silvberg mine, and is currently delineated as 130 meters of eastward plunging mineralization that remains open for expansion to the east and at depth. Holes GUM-18-001 and GUM-18-002, drilled west of the South Zone, did not return significant intercepts. GUM-18-001 terminated when it drilled into an unmapped mine working, and GUM-18-002 deviated from plan and failed to intersect the target horizon.

Boreal reported that additional assays pending from the remaining holes of the winter campaign are expected in the coming weeks. Please see Boreal’s news release dated January 28, 2019 for further details, and Appendix 1 of this news release for a table of drill results reported by Boreal.

EMX has a significant equity interest in Boreal, as well as its subsidiary company Boreal Energy Metals Corp. (“BEMC”), that resulted from the sale of Gumsberg and other royalty generation properties in Sweden and Norway[1]. EMX retains uncapped 3% net smelter return (NSR) royalty interests on each of the properties sold to Boreal and BEMC[2], including the Gumsberg project, and will receive annual advance royalty (AAR) payments and other considerations from the sale of the projects.

The Boreal agreements are an excellent example of EMX’s execution of the royalty generation aspect of the Company’s business model. EMX leveraged in-country geologic and business development expertise to acquire prospective properties on open ground, built value through low cost work programs and targeting, and partnered the projects for retained royalty interests, equity interests, and AAR payments. This business strategy has provided EMX with substantial share equity in Boreal and BEMC, exposure to exploration and discovery upside at no additional cost, and the potential for future royalty payments upon the commencement of production.

EMX continues to build its portfolio of precious metal, base metal, and cobalt properties in Scandinavia. Many new properties are available for partnership. Please see www.EMXroyalty.com for more information.

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

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.

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 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” 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 nine month period that ended on September 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year that ended on December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F 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.

Appendix 1

Drill results reported in Boreal’s January 28, 2019 news release.

Hole
ID		 From 
Meters		 To 
Meters		 Length
Meters		 Zn
%		 Ag
g/t		 Pb
%		 Au
g/t
GUM-18-001 No significant intercepts; intersected previously unidentified mine stope.
GUM-18-002 No significant intercepts; geological interpretations suggest hole failed to reach the targeted horizon.
GUM-18-003 105.00 116.00 11.00 5.90 239.00 2.51 0.96
Including 105.00 108.00 3.00 5.71 386.00 2.30 2.33
and 109.65 111.10 1.45 23.78 666.48 9.37 1.72
and 113.00 114.00 1.00 4.73 222.00 2.83 0.70
and 114.80 116.00 1.20 6.96 227.00 3.49 0.31
GUM-18-004 162.16 173.17 11.01 7.45 275.12 2.65 0.77
Including 162.16 164.18 2.02 11.09 313.00 3.61 0.76
and 165.28 166.18 0.90 8.93 403.00 3.62 1.17
and 165.28 168.50 3.22 8.57 343.39 3.68 1.52
and 169.45 172.25 2.80 11.05 429.14 3.25 0.70

True widths are estimated to be 50% of reported interval lengths.

Statement of Quality Control, Quality Assurance and Core Handling Protocols reported in Boreal’s January 28, 2019 news release.

Drill core is logged and prepped for sampling before submittal to ALS in Malå, Sweden where it is cut, bagged and prepped for analysis. Accredited control samples (blanks and accredited standards) are inserted into the sample intervals regularly. Samples are dried (if necessary), weighed, crushed (70% < 2mm), and riffle split into two fractions. One is retained (coarse reject) and the other is pulverized to 85% < 75µm. Pulps are analyzed by ultra-trace ICP-MS (ME-MS41) and ICP-AES Au-Pt-Pd (PGM-ICP23). Over detection limit samples are reanalyzed using ore grade ICP-AES by aqua regia (ME-OG46) or by AAS in the case of high grade zinc (Zn-AAORE).

[1] See EMX news releases dated November 22, 2016, January 16, 2018, February 9, 2018 and April 11, 2018.
[2] Boreal and BEMC retain a right to purchase 1% of the NSR royalty on individual projects by paying EMX CDN $2,500,000 in cash and shares within five years of the closing date.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42487

Categories
Project Generators

MIRASOL Signs a Binding Letter Agreement with Newcrest Mining for Gorbea Gold Project JV in Chile

VANCOUVER , Jan. 28, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to report the signing of binding letter agreement (the “Agreement“) with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (NCM.AX)(“NCM“), for an Option to Farm-in on the Gorbea High-Sulfidation Epithermal (HSE) gold projects (the “Project“) in Chile (Figure 1).

Mirasol’s CEO Stephen Nano stated: “Newcrest is the ideal partner for our Gorbea projects. Subject to drill permitting, Newcrest will this year fund drill testing of two, large Mio-Pliocene belt HSE Au+Ag projects at Gorbea and under a separate agreement, at the Altazor project in northern Chile “.

The Gorbea Agreement comprises a package of projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) lead properties, located in the Mio-Pliocene age mineral belt of northern Chile.  NCM has the right to acquire, in multiple stages, up to 75% of the Gorbea Project by completing a series of exploration and development milestones and making staged option payments to Mirasol.  NCM has committed to spend a minimum of US$4 million and to complete a minimum of 3,000 m of drilling over an initial 18-month period.  NCM will operate the exploration program at Gorbea.

NCM and Mirasol are working collaboratively to advance the drill permitting process at Gorbea and upgrade the exploration camp ahead of the planned Q1 2019 restart of the exploration program that will initially focus on the Atlas project, including detailed re-mapping, alteration vectoring studies, 60 line-km of CSAMT geophysics, and diamond core drilling.

Terms of the Agreement

Option phase:

  • US$100,000 cash payment upon signing the Agreement;
  • NCM’s minimum commitment is to spend US$4 million and drill a minimum of 3,000m in the first 18 months of the exploration program;
  • NCM will operate the Project and will receive a 5% management fee; and
  • At the end of the Option phase, NCM will have the right to exercise the Farm-in phase of the Agreement.

Farm-in phase:

  • Stage 1: NCM will make a cash payment to Mirasol of US$500,000 , and will have the right to earn 51% of the Project over a 4.5-year period (total 6 years) by spending an additional US$15 million (total US$19 million ), which includes a minimum drilling commitment of 6,000 m to be completed within the first 2 years;
  • Stage 2: If NCM elects to proceed to Stage 2 of the  Farm-in, it will make a cash payment to Mirasol of US$650,000 and have the right to earn 65% of the Project over an additional 1-year period (total 7 years), by funding the delivery of a positive preliminary economic assessment, in accordance with NI 43-101, on a resource of not less than 1 million  ounces of gold at a cut-off grade of 0.30 grams per tonne (g/t);
  • Stage 3: If NCM elects to proceed to Stage 3 of the  Farm-in, it will have the right to earn 75% of the Project over an additional 2-year period (total 9 years) by funding the lesser of either: (i) additional expenditures of US$100 million ; or (ii) the delivery of a positive bankable[1] Feasibility Study, in accordance with NI 43-101;
  • Stage 4: After completion of Stage 3, Mirasol can elect to: (i) contribute its proportionate 25% share of further development expenditures, (ii) exercise a one-time equity conversion option to convert up to 10% of its equity into a NSR royalty at a rate of 2.5% equity per 0.5% NSR royalty (max 2% NSR royalty) and then contribute funding to advance the Company’s remaining Project equity interest; or (iii) dilute.  The rate of royalty dilution (up to 2% and triggered upon dilution of its interest to 10%) will be adjusted based on the percentage royalty acquired as part of the equity conversion option. NCM will hold a 0.5% NSR buyback right at fair market value exercisable on the conversion royalty or the dilution royalty.

After meeting the minimum commitment in the Option phase, NCM may terminate the Agreement at any time without liability. In the event that NCM should complete Stage 1, but elect not to proceed to Stage 2, NCM’s 51% interest shall be adjusted to a 49% interest.  If NCM completes Stage 2, but elects not to proceed to Stage 3, the 65% interest shall be adjusted to 60% and the parties may agree to halt further exploration or continue and contribute in proportion to their interests or be diluted.

The Agreement also contains other customary terms, including extension rights to increase the duration of each stage in return for cash payments to Mirasol, and pre-emptive rights provisions should either party elect to sell its interest in the Project.

The Gorbea Project

The Gorbea Project comprises a package of nine projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) projects, located in the Mio-Pliocene age mineral belt of northern Chile.  Mirasol has completed and reported (news release January 7, 2018 ) the results of an integrated analysis of the extensive Atlas database generated from exploration expenditures in excess of US$ 8 million completed under a prior joint venture agreement. The previous exploration identified a significant body of HSE gold mineralization at the Atlas project, which returned a drill intercept of 114 m grading 1.07 g/t Au, including 36 m grading 2.49 g/t Au (news release September 11, 2017 ). However, the scale of the Atlas Au+Ag system, combined with the relatively modest amount of exploration drilling to date ( 10,499 m in 26 holes) and the range of priority targets identified, highlights the Project as a large, under-explored HSE system, requiring further drill testing for potential large tonnage bulk minable Au+Ag mineralization.

About Newcrest Mining Limited

Newcrest is one of the world’s largest gold mining companies, operating four mines in Australia and the Asia – Pacific regions.  Newcrest has extensive experience developing and operating successful underground and open pit mines in culturally and geographically diverse environments. Newcrest seeks to identify and secure large mineral districts, or provinces, in order to establish long term mining operations.

About Mirasol Resources Ltd

Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits, operating via a hybrid joint venture and self-funded drilling business model. Strategic joint ventures with precious metal producers have enabled Mirasol to maintain a tight share structure while advancing its priority projects that are focused in high-potential regions in Chile and Argentina. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age Au+Ag district of Santa Cruz Province Argentina .

Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Chartered Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.

Under the terms of the pervious Gorbea Joint Venture (terminated in April 2018 ), all exploration was managed by the then joint venture partner. Pre-joint venture exploration on the projects was managed by Stephen C. Nano , who is the Qualified Person under NI 43-101.  Exploration data generated from the previous Gorbea Joint Venture program was reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources Ltd.

Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, channel, trench, and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.

Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.

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

“Bankable” is defined as suitable to be submitted to a recognized financial institution as a basis for lending funds for the development of a mine

SOURCE Mirasol Resources Ltd.

View original content: http://www.newswire.ca/en/releases/archive/January2019/28/c8852.html

Categories
Precious Metals

VANAURUM Major Opportunity Developing in Platinum

Major Opportunity Developing in Platinum

By Kevin Vecmanis
Once in a while an opportunity comes along in the markets where the dislocations are so extreme and compelling that it commands one to take a calculated risk. Anytime you can say, “This is among the cheapest this asset has been in history”, there is typically a fantastic contrarian play at hand.
In February of 2016 the price of WTI Crude Oil hit ~ $25/barrel. On an inflation adjusted basis, this was among the cheapest oil had been in recorded history. I was working in the Oil Industry at the time doing engineering management, and during a lunch with the President of our company I told him I was going to buy a lot of energy equities on that fact alone. Considering the sentiment at the time (atrocious), he was skeptical. Six weeks later I had doubled my money.
Click here now. The same situation is developing in the Platinum market. This plot shows the $USD close of Platinum, with the Platinum/Copper and Platinum/Gold ratio. Platinum is at $805 as of this writing, and on an inflation-adjusted basis is among the cheapest Platinum has been in history. Priced in Gold, this the cheapest platinum has ever been. Priced in Copper, Platinum hasn’t been this cheap since 1977. The same is true of the Platinum/Silver ratio which is languising near lows last seen in 2012, and then the 1980’s before that. The Platinum/Palladium ratio is as extreme as the Platinum/Gold ratio, which is almost tied for all-time lows for the entire price history dating back to the 70’s. Priced in units of the S&P 500 it’s also languishing at the cheapest in history.
So what’s happening here? Some make the (valid) argument that shifting auto demand from combustion vehicles to electric vehicles is forcing the market to reprice the value of Platinum relative to other assets. This is fine, and I tend to agree with this assessment. However, the adaptive and non-stationary aspect of markets needs to be respected. Platinum has inalienable properties that make it a fantastic input to a lot of products and processes. The simple fact that Platinum (and Gold) are immune to oxydative damage means that if they were cheap enough we would use them in everything where a certain degree of robustness and longevity is required. In other words, at some point new use cases for Platinum will emerge that are economically viable at these price levels. This will drive a mean-reversion relative to other assets over the long-term.
Technically, Platinum is sitting right at major support that held during the 2008 crash and the 2015 low. It remains to be seen if a double-bottom will form here, or if the market will break support and jolt lower. The essence of speculation is buying what nobody wants, and selling what everybody wants. I think investors or speculators with the luxury of time would do well to accumulate platinum-based assets at this juncture.
As a matter of disclosure, we currently do not own any positions in Platinum or Platinum miners directly. We do plan to take long-positions in PPLT within the next 1-3 months.

About VanAurum

VanAurum is an intelligent lead generator for trading and investing opportunities. It analyzes over 140 asset classes everyday that cover a global cross-section of the market. When something happens that historically has been positive or negative for returns, it reports on it to members. It’s an AI-based market historian. VanAurum alerted me to the situation in Platinum through action it was seeing in the Platinum/Gold ratio.
Staying in tune with notable price action for the world’s largest asset classes is time-consuming, and perfectly suited for a machine-learning systems to handle. That’s why I built VanAurum – to sift through the market noise and increase the quantity and quality of trading leads for members. If you use technical analysis to trade the markets, VanAurum is a must-have membership because it can quantify exactly what technical events have meant for asset returns in the past.
Due to the popularity of our AI platform, we will be increasing membership prices for new members in February. 321Gold readers can sign-up and lock in current prices by following the steps below. All memberships come with a 14-day, no obligation free-trial.
To sign up:

  • Click on the button below.
  • Enter a valid credit card to get past our authentication wall (Your card won’t be charged until the 14-day trial has ended).
  • Once through, Complete the sign-up form and you’re good to go.
  • If you have any questions at all, please e-mail me directly at kevin@vanaurum.ai

Become a member

Happy and prosperous investing!
Kevin
Founder, VanAurum

 

 © 2017-2018 CopyrightVanAurum Financial Technologies. All rights reserved.
Privacy | Site Terms
Categories
Precious Metals

CHRIS MARCUS When People Lose Confidence in Government, They Always Buy Gold And Silver

Jim Rogers – “When People Lose Confidence in Government, They Always Buy Gold And Silver”
Written by Chris Marcus of Miles Franklin
When trying to do something successfully for the first time, one of the strategies I find most helpful is to consider the opinion of someone who has done it before. And certainly with investing, listening to traders who have a track record of success can be incredibly insightful.
Along those lines, something that I’ve found striking as I’ve been fortunate to interview many of the world’s most successful investors, is that they all seem to share the same sentiments regarding gold and silver.
Jim Rogers - When People Lose Confidence in Government, They Always Buy Gold And Silver
Certainly Jim Rogers fits into the category of the more successful traders of the past 50 years. And if I were to summarize our interview down to one thing Jim said, it would be how he mentioned that “when people lose confidence in government, they always buy gold and silver.”
So while many in the mainstream who have been watching too much CNBC often react to gold and silver investors as if they’ve just arrived from another planet, I find it interesting how I have yet to find a single investor who saw the subprime bubble coming in advance, that doesn’t now advocate owning silver (perhaps with Warren Buffett being one exception – although he was a large silver holder at one point).
Sure. You can find plenty of bankers on Wall Street who see absolutely no appeal in gold or silver. Yet how many of them can explain how the United States treasury is going to undo $22 trillion worth of debt? Or $200-plus trillion of unfunded liabilities in Social Security and Medicare? Or how the Fed is going to ever normalize interest rates without crashing the system.
Personally I’ll take Jim’s opinion over any of the folks I once worked with on Wall Street. Or you could take the opinion of Rick Rule, Doug Casey, or Peter Schiff. Or even better, you don’t have to take anyone’s opinion for it. But rather just look at the debt loads and quantitative easing balances, while factoring in that the Federal Reserve is already abandoning any further significant sequence of interest rate hikes.
It’s also interesting how you rarely even hear anyone argue that gold and silver are going to go lower from current levels. And why would they? With both metals trading close to or below what it actually cost many of the miners to dig it out of the ground, while further short term paper manipulation is always possible, how much lower are the metals really likely to trade?
In the end, the simple answer is that Jim Rogers is likely quite correct. That when people lose confidence in governments and money, which is happening as we speak, they always buy gold and silver.
That’s incredibly likely to happen this time around again. And if you have any questions, you’re welcome to email me here, or call Miles Franklin at one 800-822-8080 if you would like to purchase physical precious metals.
-If you have any questions about this article, what’s happening with the Fed, or the precious metals market, you’re welcome to email me here.
-To buy or sell gold and silver call Miles Franklin today at (1-800-822-8080).
-Or get Miles Franklin’s detailed report on why the price of silver is set to explode.
Miles Franklin Refinery Services For “We Buy Gold” Shops
To buy or sell gold, silver, platinum, or palladium call Miles Franklin today at 1-800-822-8080
Miles Franklin Refinery Services For “We Buy Gold” Shops
Are you a “We Buy Gold” or coin shop that purchases physical precious metals and sends them to a refiner?
Then find out how you can get a better bid than you’re currently receiving. As well as how the process can be simple, trustworthy, and with good communication along every step of the way.
To find out more, click to watch the video or call 1-833-326-GOLD now!
Get Miles Franklin’s detailed report on why the price of silver is set to explode:
Miles Franklin Refinery Services For We Buy Gold Shops
Archived Newsletters
Market Report 1/24/2019
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
Precious Metals

Bank of England blocks Maduro’s $1.2B gold withdrawal – report

Original Source: https://www-m.cnn.com/2019/01/26/uk/venezuela-maduro-bank-of-england-gold-withdrawal-gbr-intl/index.html?r=https%3A%2F%2Fwww.cnn.com%2F

Bank of England blocks Maduro’s $1.2B gold withdrawal – report

By Rob Picheta, CNN

Updated at 12:32 PM ET, Sat January 26, 2019

London (CNN) — The Bank of England has blocked Nicolas Maduro’s officials from withdrawing $1.2 billion worth of gold, Bloomberg reported, dealing a further blow to the embattled Venezuelan President as he tries to salvage his authority.
According to the report, which cites unnamed people familiar with the matter, the gold is a significant part of the $8 billion in foreign reserves held by the Venezuelan central bank.
CNN has not been able to independently verify the report and is attempting to get a response from Maduro’s officials.
Related Article: Venezuela’s self-declared acting president makes overture to military
The move by the Bank of England came after top U.S. officials urged the British government to help cut off Maduro’s access to his country’s assets, the report said, and instead steer them towards opposition leader Juan Guaido, who has claimed the presidency.
On Saturday, the UK joined the US and a host of other countries by saying it would recognize Guaidó as the country’s interim President if new elections were not called within the next eight days.
Categories
Base Metals Energy Junior Mining Precious Metals

GROUP TEN METALS Reports High-Grade Palladium, Platinum and Gold from the Wild West and Boulder Target Areas at the Stillwater West Project, Montana, USA

VANCOUVER, British Columbia, Jan. 25, 2019 (GLOBE NEWSWIRE) — Group Ten Metals Inc. (TSX.V: PGE; US OTC: PGEZF; FSE: 5D32) (the “Company” or “Group Ten”) announces results from the Wild West and Boulder target areas covering the far-western end of the Stillwater West Project in Montana, USA. This is the first in a series of planned news releases to report results of 2018 exploration programs and on-going compilation and modeling work at the Company’s flagship PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade PGE mines in the Stillwater Igneous Complex. With more than 41 million ounces of past production and current M&I resources, plus another 49 million ounces of inferred resources at over 16 g/t palladium and platinum, the Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization1,2.

Michael Rowley, President and CEO, commented, “We are pleased to report the results of our compilation and modelling efforts at Stillwater West alongside results of the 2018 exploration. This first release focuses on the Boulder and Wild West target areas, which cover the western-most 8 km of the 25 km long Stillwater West project, where work in 2018 confirmed the presence of significant PGE+gold along with nickel, copper and cobalt sulphide mineralization. Mineralization at these two target areas corresponds with two nearly untested electromagnetic geophysical conductors that are approximately 4 and 3.8 km in length, respectively. Surface sampling from these targets show values up to 10.3 grams-per-tonne (g/t) palladium, 3.8 g/t platinum and 21.8 g/t gold in rock samples, with 20 samples returning from 2 to 30 g/t platinum equivalent grade mineralization, including significant nickel, copper, and cobalt values.”

“Mineralization styles seen at these two target areas include high-grade PGE “Reef-type” and structurally controlled PGE+gold, along with bulk-tonnage “Platreef-style” PGE-Ni-Cu mineralization geologically similar to the Northern Bushveld, which hosts Anglo American’s world-leading Mogalakwena mines, as well as Ivanhoe’s Platreef project. These very encouraging sample results, along with the untested kilometer-scale electromagnetic conductor anomalies, highlight the potential for major new PGE-Ni-Cu discoveries at Stillwater West, within the prolific Stillwater Complex.”

Wild West Target Area

As shown in Figure 1, the Wild West target area is one of eight major target areas defined by the Company across the lower portion of the Stillwater Complex based on multi-kilometer-scale electromagnetic geophysical (conductive high) anomalies that are coincident with highly elevated metals in soils and surface rock sampling. The Wild West electromagnetic conductor target covers an area of approximately 3.8 km by 1.7 km in size with very encouraging but limited drilling completed on the southeastern edge of the conductor at the Pine Shear Zone.

Table 1 and Figure 2 present highlight intercepts from recent compilation work by the Company on 22 holes drilled at the Pine Shear Zone targeting high-grade gold+PGE mineralization along with nickel, copper and cobalt. Highlight results from drilling at the Pine Shear Zone include 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters and 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd) over 7.98 meters in a gold+PGE-enriched, structurally-controlled shear zone hosted within the chromite-rich ultramafic stratigraphy. Mineralization remains open to expansion in all directions and is one of several priority targets for additional follow up exploration in the Wild West target area.

Rock sampling by Group Ten in 2018 at the Pine Shear Zone returned palladium grades of over 10 g/t while also confirming high-grade gold with the highest grab sample assaying 23.1 g/t 3E (21.8 g/t Au, 0.64 g/t Pt and 0.72 g/t Pd). Outside of the Pine Shear Zone in the broader Wild West target area, reconnaissance rock chip samples confirm the presence of significant PGE, nickel, copper and cobalt mineralization in the ultramafic series including up to 11.5 g/t 3E (10.5 g/t Pd, 1.2 g/t Pt and 0.23 g/t Au) with a total of 17 rock samples exceeding 2 g/t 3E see Figure 1 and Table 2).

TABLE 1 – Highlight mineralized drill intercepts from the Pine Shear Zone at the Wild West Target Area

    INTERVAL   PRECIOUS METALS BASE METALS TOTAL METAL
EQUIVALENTS		 GRADE THICKNESS
HOLE ID From To Width Pt Pd Au 3E Ni Cu Co NiEq TotPtEq TotNiEq Grade x Width
  (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (%) (Pt g/t) (Ni %) (gram-meter)
PC2004-04 0.00 20.73 20.73 0.21 0.34 0.08 0.64 0.12 0.06 0.009 0.18 1.38 0.34 29
   
PC2004-07 19.20 46.63 27.43 0.25 0.76 0.09 1.10 n/a n/a n/a n/a 1.13 0.27 31
   
PC-2 11.09 22.46 11.37 0.17 0.35 11.77 12.30 n/a n/a n/a n/a 15.24 3.70 173
including 14.48 22.46 7.98 0.24 0.50 16.19 16.94 n/a n/a n/a n/a 20.99 5.10 167
   
PC-3 0.15 9.72 9.57 0.16 0.16 3.77 4.09 n/a n/a n/a n/a 5.04 1.22 48
including 5.70 9.72 4.02 0.38 0.39 7.27 8.04 n/a n/a n/a n/a 9.86 2.40 40
   
PC-5 3.05 6.28 3.23 0.89 1.04 23.49 25.43 n/a n/a n/a n/a 31.30 7.61 101
including 3.05 5.67 2.62 1.06 1.27 28.69 31.02 n/a n/a n/a n/a 38.19 9.28 100
   
PC-6 29.87 39.84 9.97 0.12 0.12 4.36 4.60 n/a n/a n/a n/a 5.69 1.38 57
   
PC-9 4.39 5.76 1.37 0.34 0.34 15.87 16.56 n/a n/a n/a n/a 20.53 4.99 28

 Intercepts with grade thickness values over 25 gram-meter TotPtEq are presented above. Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent calculations reflect total gross metal content using metals prices as follows (all USD):  $6.00/lb nickel (Ni), $3.00/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,000/oz palladium (Pd) and $1,250/oz gold (Au). Values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals, where available. Results labelled ‘n/a’ were not assayed for that metal. Total platinum equivalent grade thickness was determined by multiplying the thickness (in meters) by the Total Platinum Equivalent grade (in grams/tonne) to provide gram-meter values (g-m) as shown.  PC2004 series holes were conducted in 2004 by Group Ten’s QP while working for Premium Exploration. PC series holes were drilled in 1983 and the results are considered historic and have not been independently verified by Group Ten.

TABLE 2 – Highlight 2018 rock sample results from the Wild West target area

    PRECIOUS METALS BASE METALS TOTAL METAL
EQUIVALENTS
SAMPLE ID LOCATION Pt Pd Au 3E Ni Cu Co NiEq TotPtEq TotNiEq
    (g/t) (g/t) (g/t) (g/t) (%) (%) (%) (%) (Pt g/t) (Ni %)
3190318 Wild West (PSZ) 0.64 0.72 21.80 23.16 0.260 0.071 0.018 0.36 30.07 7.31
97809 Wild West (PSZ) 0.37 0.59 11.70 12.66 n/a n/a n/a n/a 15.58 3.79
97805 Wild West (PSZ) 3.77 10.34 0.22 14.32 n/a n/a n/a n/a 14.38 3.49
3190486 Wild West (PSZ) 0.24 0.49 7.93 8.66 0.475 0.313 0.027 0.72 13.61 3.31
3190317 Wild West (PSZ) 0.37 0.31 7.31 7.99 0.551 0.034 0.028 0.66 12.53 3.05
3190498 Wild West 1.24 10.05 0.23 11.53 0.162 0.006 0.013 0.21 12.44 3.02
1409988 Wild West (PSZ) 1.82 6.01 0.20 8.03 0.157 0.029 0.040 0.30 9.33 2.27
3190408 Wild West (PSZ) 0.58 1.35 3.19 5.13 0.119 0.223 0.020 0.30 7.15 1.74
3190497 Wild West 2.11 3.55 0.01 5.67 0.100 0.017 0.017 0.17 6.35 1.54
3190508 Wild West 1.09 3.20 0.27 4.56 0.217 0.067 0.024 0.33 5.99 1.46
3190320 Wild West 1.03 2.95 0.44 4.41 0.138 0.011 0.018 0.20 5.36 1.30
3190509 Wild West 1.12 2.83 0.14 4.08 0.142 0.000 0.026 0.23 5.06 1.23
337315 Wild West 0.76 2.01 0.23 3.00 0.259 0.084 0.030 0.40 4.71 1.15
337389 Wild West (PSZ) 2.80 0.47 0.03 3.30 0.067 0.017 0.023 0.15 3.93 0.96
3190386 Wild West 0.44 1.61 0.19 2.24 0.183 0.245 0.022 0.38 3.84 0.93
1409992 Wild West 0.86 1.83 0.03 2.72 0.090 0.034 0.024 0.19 3.49 0.85
337307 Wild West 1.76 0.67 0.02 2.45 0.114 0.021 0.013 0.17 3.14 0.76
337309 Wild West 0.61 0.83 0.14 1.58 0.250 0.084 0.020 0.36 3.09 0.75
3190422 Wild West 0.32 0.58 0.10 0.99 0.217 0.172 0.024 0.38 2.59 0.63
3190507 Wild West 0.11 0.23 0.11 0.44 0.327 0.182 0.018 0.48 2.44 0.59

 Results over 2 g/t TotPtEq are presented above. Total Platinum Equivalent (TotPtEq g/t) and Total Nickel Equivalent were determined as per Table 1.

Boulder Target Area

The Boulder EM conductor target covers an area approximately 4 km long by 1 km wide with a highly conductive electromagnetic response over the Ultramafic and Basal Series of the Stillwater Complex. While the area is among the least explored at Stillwater West, Group Ten’s work in 2018, together with the available historic data, confirms the presence of significant levels of PGE, Ni, Cu, Co and Cr mineralization coincident with the conductive high anomaly, confirming the potential for large bodies of strongly disseminated sulphides.

Mineralization at the Boulder target area is further confirmed by historic drilling by Anaconda in the 1970s which targeted nickel and copper sulphides and chromites in the Basal and Ultramafic Series. Historic data from drill hole BR-2 at the Boulder Target Area reported three intervals grading between 0.42% to 1.5% combined nickel plus copper but were not assayed for PGE or gold values. Future work at the Boulder Target Area will include detailed mapping and soil and rock sampling to develop and refine drill targets.

Upcoming News and Events, Including Core Display at AMEBC Roundup

Group Ten will be participating in the 2019 AMEBC Mineral Roundup Event in Vancouver. Investors are invited to view core from Stillwater West at display #1018 in the Core Shack area during the AME Round Up tradeshow on January 28 and 29, 2019. Group Ten will also be at booth #1009 in the Exhibit Hall for the duration of the show, and will be at the PDAC convention in March in Toronto, among other upcoming shows.

The Company looks forward to releasing further results from the adjacent and more advanced Chrome Mountain and Iron Mountain target areas in the coming weeks.

About Stillwater West

The Stillwater West PGE-Ni-Cu project positions Group Ten as the second largest landholder in the Stillwater Complex, adjoining and adjacent to Sibanye-Stillwater’s world-leading Stillwater, East Boulder, and Blitz platinum group elements (PGE) mines in south central Montana, USA. With more than 41 million ounces of past production and current M&I resources, plus another 49 million ounces of Inferred resources1,2, the Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex, while the lower part of the Stillwater Complex also shows the potential for much larger scale disseminated and high-sulphide PGE-nickel-copper type deposits, possibly similar to Platreef in the Bushveld Complex3. Group Ten’s Stillwater West property covers the lower part of the Stillwater Complex along with the Picket Pin PGE Reef-type deposit in the upper portion, and includes extensive historic data, including soil and rock geochemistry, geophysical surveys, geologic mapping, and historic drilling.

Note 1: Report on Montana Platinum Group Metal Mineral Assets of Sibanye-Stillwater, November 2017, Measured and Indicated Resources of 57.2 million tonnes grading 17.0 g/t Pt+Pd containing 31.3 million ounces and 92.5 million tonnes grading 16.6 g/t containing 49.4 million ounces.
Note 2: Public production records from Stillwater Mining Company from 1992 to present.
Note 3: Magmatic Ore Deposits in Layered Intrusions—Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012–1010.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA.  Group Ten also holds the highly prospective Kluane PGE-Ni-Cu project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory, and the high-grade Black Lake-Drayton Gold project in the Rainy River district of northwest Ontario.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of platinum & palladium, silver and copper. Member companies include Group Ten Metals (PGE.V) in the Stillwater PGM-Ni-Cu district of Montana, Metallic Minerals (MMG.V) in the Yukon’s Keno Hill silver district, and Granite Creek Copper (GCX-H.V) in the Yukon’s Carmacks copper district. 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 strong project finance and capital markets experience and have demonstrated a commitment to community engagement and environmental best practices. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers and are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven historic mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075

Quality Control and Quality Assurance

2018 rock chip samples were analyzed by Bureau Veritas Mineral Laboratories in Vancouver, B.C.  Samples were crushed and split, and a 250 g split pulverized with 85% passing 200 mesh.  Gold, platinum, and palladium were analyzed by fire assay (FA350) with ICP finish.  Selected major and trace elements were analyzed by peroxide fusion with ICP-EB finish to insure complete dissolution of resistate minerals.  Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.  Due to a Pd over-limit of 10 ppm, there is only qualitative Pd data for sample 3190498 from FA350 analysis.

2004 drilling was conducted by Group Ten’s QP while working for Premium Exploration. 1983 drill results are considered historic and have not been independently verified by Group Ten.

1980s assay data was obtained from a 1986 report by geologist R.J. Warchola titled “A Hydrothermal Gold Occurrence on Chrome Mountain, Stillwater Complex, Montana” published in the Montana Geologic Society and Yellowstone Bighorn Research Association Joint Field Conference and Symposium: Geology of the Beartooth Uplift and Adjacent Basin: YBRA 50th Anniversary Edition, 1986; and a 1984 internal report by R.J. Warchola titled “Geologic Report on the Pine Claim, Sweetgrass County, Montana February 1984”

Assay data for drillhole BR-2 was obtained graphically from a 1979 Anaconda Copper Company map by G.F. Willis and J. Bielak.

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he 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 Group Ten 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 Group Ten 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.

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/4892ef65-f505-4efc-92a5-e8e4a2e89b03

http://www.globenewswire.com/NewsRoom/AttachmentNg/67397f95-bf6a-4232-aec3-d0827a765b95

Categories
Junior Mining

ANACONDA MINING Announces NI 43-101 Mineral Resources for the Great Northern and Cape Spencer Gold Exploration Projects

TORONTO , Jan. 24, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX.TO) (ANXGF) is pleased to announce it has completed an updated Mineral Resource Estimate for the Rattling Brook Deposit (“Rattling Brook”) of the Great Northern Project (“Great Northern”) in Newfoundland and an initial Mineral Resource Estimate for the Cape Spencer Gold Project (“Cape Spencer”) in New Brunswick . The Mineral Resource Estimates are presented below in Tables 1 and 3.

The Great Northern and Cape Spencer Gold Projects are held in a wholly-owned subsidiary of Anaconda (“ExploreCo”), with a mandate to identify strategic options to unlock the value of these assets for shareholders through a separate vehicle, allowing Anaconda to focus on its core mining and development operations.

Mineral Resource Estimate Highlights:

Great Northern Project

  • The Rattling Brook Deposit has an Inferred Mineral Resource Estimate of 5,460,000 tonnes at an average grade of 1.45 grams per tonne (“g/t”) gold for 255,000 contained ounces at a cut-off grade of 1.0 g/t gold;
  • The nearby Thor Deposit has a current Indicated Mineral Resource Estimate of 1,817,000 tonnes at an average grade of 1.42 g/t gold for 83,000 contained ounces and an Inferred Mineral Resource Estimate of 847,000 tonnes at an average grade of 1.15 g/t gold for 31,000 contained ounces at a cut-off grade of 0.5 g/t gold.

Cape Spencer Project

  • The Cape Spencer Deposit has an Inferred Mineral Resource Estimate of 1,720,000 tonnes at an average grade of 2.72 g/t gold for 151,000 contained ounces in the Northeast and Pit Zones;

“In 2018, Anaconda created a wholly-owned subsidiary to house these highly-prospective, Atlantic Canadian exploration projects, with the aim of developing strategic alternatives to realize value from them. To that end, we proceeded to update the Rattling Brook Mineral Resource Estimate and generate a maiden Mineral Resource Estimate for Cape Spencer. As a result, ExploreCo currently has 83,000 ounces of Indicated Mineral Resources in the Thor Deposit, 151,000 ounces of Inferred Mineral Resources at the Cape Spencer Project and 286,000 ounces of Inferred Mineral Resources in the Thor and Rattling Brook Deposits. We have established these gold resources in highly prospective areas with sizeable land packages that provide the platform to build significant district-scale mineral resources in Atlantic Canada in the long term. We have continued to create value at these projects with low expenditures and are well positioned to pursue strategic options to realize that value for our shareholders, while remaining focused on our core assets at Goldboro and on the Baie Verte Peninsula .”

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

ExploreCo Table of Mineral Resources*

Deposit

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Thor Deposit**

0.5

Indicated

1,817,000

1.42

83,000

0.5

Inferred

847,000

1.15

31,000

Rattling Brook

1.0

Inferred

5,460,000

1.45

255,000

Cape Spencer Pit Zone

0.5

Inferred

990,000

1.71

54,000

Cape Spencer Northeast Zone

2.5

Inferred

740,000

4.07

96,000

Rattling Brook Deposit Mineral Resource Estimate – Great Northern Project

The updated Mineral Resource Estimate for the Rattling Brook Deposit is 5,460,000 tonnes at an average grade of 1.45 g/t gold for 255,000 contained ounces at a cut-off grade of 1.0 g/t gold in 3 mineralized zones; the Road, Apsy and Beaver Dam zones with an effective date of January 23, 2019 (Table 1). This represents a 25% increase in tonnes, a 13% increase in grade and a 42% increase in contained ounces at the 1.0 g/t cut-off value compared to the 2008 Historic Mineral Resource Estimate*** that is based on a 0.5 g/t gold cut-off (see Table 2 below for full comparison). This increase in Mineral Resources at the higher cut-off value was obtained by refining the geological model for the deposit, primarily through reducing the volume of marginal grade mineralization that is incorporated in the model. A sensitivity report for the Rattling Brook Deposit and comparison with the 2008 Historic Mineral Resource Estimate is presented in Table 2.

Table 1: Rattling Brook Deposit Mineral Resource Estimate – Effective Date: January 23, 2018

Zone

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Apsy

1.0

Inferred

2,850,000

1.52

139,000

Road

1.0

Inferred

2,120,000

1.28

87,000

Beaverdam

1.0

Inferred

480,000

1.81

28,000

Total

1.0

Inferred

5,460,000

1.45

255,000

1.

This Mineral Resource Estimate was prepared in accordance with NI 43-101 and the CIM Standards (2014)

2.

Mineral Resource Estimate tonnages have been rounded to the nearest 10,000 and ounces have been rounded to the nearest 1,000. Totals may not sum due to rounding.

3.

A cut-off of 1.00 g/t gold was used to estimate Mineral Resources.

4.

Mineral Resources were interpolated using Ordinary Kriging from 1.5 metre downhole assay composites.

5.

An average bulk density of 2.70 g/cm3 has been applied.

6.

Over 90% of Mineral Resources occur above a depth of 150m below surface, the current maximum depth of the Anaconda Mining operated Pine Cove Mine. Mineral Resources were reported within an additional 50m of the 150m bench mark, to a maximum depth of 200m, and are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional open-pit mining methods at a gold price of CAD $1,550 per ounce.

7.

Mineral Resources do not have demonstrated economic viability.

8.

This estimate of Mineral Resources may be materially affected by environmental, permitting, legal title, taxation, sociopolitical, marketing, or other relevant issues.

Table 2: Rattling Brook Deposit Sensitivity Report and Comparison with 2008 Historic Mineral Estimate

Zone

Cut-Off

(Au g/t)

January 23, 2018 Inferred

Mineral Resource Estimate

2008 Historic Inferred Mineral

Resource Estimate***

Percent Change

Rounded

Tonnes

Au

g/t

Rounded

Ounces

Rounded

Tonnes

Au

g/t

Rounded

Ounces

Tonnes

Grade

(Au g/t)

Ounces

Road Zone

0.5

8,960,000

0.86

248,000

9,880,000

0.76

241,000

-9%

13%

3%

1.0

2,120,000

1.28

87,000

1,400,000

1.22

55,000

51%

5%

58%

Apsy Zone

0.5

6,010,000

1.12

217,000

7,410,000

0.95

226000

-19%

18%

-4%

1.0

2,850,000

1.52

139,000

2,760,000

1.30

115,000

3%

17%

21%

Beaver Dam

0.5

1,220,000

1.16

45,000

1,020,000

0.85

28,000

20%

36%

61%

1.0

480,000

1.81

28,000

200,000

1.52

10,000

140%

19%

180%

Total

0.5

16,190,000

0.98

510,000

18,310,000

0.84

495,000

-12%

17%

3%

1.0

5,460,000

1.45

255,000

4,360,000

1.28

179,000

25%

13%

42%

Cape Spencer Project Mineral Resource Estimate

The Inferred Mineral Resource Estimate for the Cape Spencer Deposit is 1,720,000 tonnes at an average grade of 2.72 g/t gold for 151,000 contained ounces at cut-off grade of 0.5 g/t gold and 2.5 g/t gold in two mineralized zones; the Pit Zone and the Northeast Zone with an effective date of January 23, 2019 (Table 3). The Northeast Zone contains a conceptual underground inferred mineral resource estimate of 740,000 tonnes at an average grade of 4.07 g/t gold for 96,000 contained ounces at a cut-off grade of 2.5 g/t gold and the Pit Zone contains a conceptual open-pit inferred mineral resource estimate of 990,000 tonnes at an average grade of 1.71 g/t gold for 54,000 contained ounces at a cut-off grade of 0.5 g/t gold. A sensitivity report for the Cape Spencer Project Northeast Zone and Pit Zone is presented in Table 4.

Table 3: Cape Spencer Project Mineral Resource Estimate – Effective Date: January 23, 2018

Zone

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Northeast

2.5

Inferred

740,000

4.07

96,000

Pit

0.5

Inferred

990,000

1.71

54,000

Total

0.5 and 2.5

Inferred

1,720,000

2.72

151,000

1.

This Mineral Resources Estimate was prepared in accordance with NI 43-101 and the CIM Standards (2014)

2.

Mineral Resource tonnages have been rounded to the nearest 10,000 and ounces have been rounded to the nearest 1,000. Total may not sum due to rounding.

3.

A cut-off of 2.50 g/t gold was used to estimate Mineral Resources for the Northeast Zone.

4.

A cut-off of 0.50 g/t gold was used to estimate Mineral Resources for the Pit Zone.

5.

Mineral Resources were interpolated using Ordinary Kriging from 1.5 metre assay composites capped at 15 g/t gold.

6.

An average bulk density of 2.74 g/cm3 has been applied.

7.

Northeast Zone Mineral Resources extend to a maximum depth of 225m below surface and are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional underground mining methods at a gold price of CAD $1,550 per ounce.

8.

Pit Zone Mineral Resources extend to a maximum depth of 100m below surface and are considered to reflect reasonable prospects for economic extraction in the foreseeable future using conventional open-pit mining methods at a gold price of CAD $1,550 per ounce.

9.

Mineral Resources do not have demonstrated economic viability.

10.

This estimate of Mineral Resources may be materially affected by environmental, permitting, legal title, taxation, sociopolitical, marketing, or other relevant issues.

Table 4: Cape Spencer Project Sensitivity Report

Zone

Cut-Off (Au g/t)

Category

Rounded Tonnes

Au (g/t)

Rounded Ounces

Northeast

1.5

Inferred

1,480,000

2.98

142,000

2.5

Inferred

740,000

4.07

96,000

3.5

Inferred

400,000

5.04

64,000

Pit

0.5

Inferred

990,000

1.71

54,000

1.0

Inferred

830,000

1.88

50,000

Press Release Notes:

*Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. All Mineral Resource Estimates were prepared in accordance with NI 43-101 and the CIM Standards (2014).

** The Thor Deposit forms part of the project formerly referred to as the Viking Project. The resources quoted in this press release refer to the technical report: “NI 43-101 Technical Report and Mineral Resource Estimate on the Thor Deposit, Viking Project, White Bay Area, Newfoundland and Labrador, Canada ” with an effective date of August 29, 2016 and authored by independent qualified persons David A. Copeland , M.Sc., P.Geo., Shane Ebert , Ph.D., P.Geo. (an independent consultant) and Gary Giroux , MASc, P.Eng. (Giroux Consultants Ltd.).

*** The Rattling Brook Deposit, including the Apsy, Road and Beaver Dam zones, form part of the project formerly referred to as the Jacksons Arm Gold Project. The Historic Resources quoted in this press release refer to the technical report: “Technical Report On Mineral Resource Estimate, Jacksons Arm Gold Project, White Bay, Newfoundland And Labrador, Latitude 49o 53′ 2.65”North Longitude 56o 50’7.09” West. With an effective date of April 20th, 2009 , and authored by Michael P. Cullen , M.Sc., P.Geo., Chrystal Kennedy , B.Sc., P.Geo., Matthew Harrington , B.Sc. (Hons.), and Andrew Hilchey , B.Sc. (Hons.) of Mercator Geological Services.

This news release has been reviewed and approved by David A. Copeland, P.Geo., Chief Geologist with Anaconda Mining Inc., “Qualified Persons” and Matthew Harrington, P.Geo. and Michael Cullen , P.Geo. of Mercator Geological Services Ltd., “Independent Qualified Persons” under NI 43-101. A Technical Report prepared in accordance with NI43-101 for the Great Northern and Cape Spencer Projects will be filed on SEDAR (www.sedar.com) within 45 days of this news release.

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 MINING INC.

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 a 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.

SOURCE Anaconda Mining Inc.

View original content: http://www.newswire.ca/en/releases/archive/January2019/24/c3014.html