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Grizzly Reports the First Sample Results for the Newly Acquired Ground in the Marshall Lake Area of the Greenwood, BC Precious and Battery Metals Project

Post author By admin
Post date November 22, 2023

Edmonton, Alberta–(Newsfile Corp. – November 22, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce the first assay results for rock samples collected from the newly staked mineral claims in the Marshall Lake to Eholt area of Greenwood. These are some of the first geochemical results from several batches of samples, that the Company expects to receive additional results for over the coming months, for work conducted at the Marshall Lake area, Midway, Sappho-Lexington, Imperial and Beaverdell target areas within the Greenwood Precious and Battery Metals Project.

In addition, results will also be forthcoming from prospecting and sampling that have been conducted at the Robocop Property following up on copper-cobalt anomalous soils identified in work over the last two years.

Highlights:

A total of 92 rock grab samples were collected from outcrop and mineralized dump material across the new claims staked in August (highlighted in blue in Figures 1 and 2) yielding 21 samples with >0.5 grams per tonne (g/t) gold (Au) up to 154.5 g/t Au, along with high silver (Ag) up to 205 g/t Ag and high copper (Cu) up to 8.44 percent (%) Cu (Figures 1 and 2).
Rock grab samples from showings and mineralized dumps in the Marshall Lake area returned 11 samples with >0.5 g/t Au up to 154.5 g/t Au including 4 samples with >8.95 g/t Au up to 154.5 g/t Au. The high Au values are often accompanied by high Cu in the 0.1 to 0.6% range. The anomalous values are associated with high sulphide material in what appears to be gossanous skarnified sedimentary rocks (Figure 3).
Rock grab samples from the exploration areas of the Great Laxey showing and west of the Emma showings returned significant Cu values with up to 1.235% Cu and 8.44% Cu respectively. The area west of the Emma showings and old workings has also provided grab samples with high Au and Ag values including 4 samples with 2.13 g/t Au up to 17.55 g/t Au, 107 g/t Ag up to 205 g/t Ag and 0.98% Cu up to 8.44% Cu (Figures 1 and 2).
Sulphide mineralization at Great Laxey and west of the Emma historical workings is associated with skarnified sedimentary rocks and intrusions. The west Emma area may also show alteration patterns consistent with intermediate to high sulphidation epithermal mineralization.

Brian Testo, President and CEO of Grizzly Discoveries stated “We are excited with the new results to date from the new mineral claims and we are planning follow-up exploration including extensive soil and rock sampling programs along with ground geophysical surveys. Much of newly staked ground has seen little exploration and evaluation since the 1990’s. We also are looking forward to pursuing a number of high grade gold – silver – copper showings and historical mines with drilling in the New Year along with additional exploration for significant battery metal prospects in our current 165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!“

Figure 1: Initial Gold Results Rock Sampling 2023 – New Mineral Claims.

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Figure 2: Initial Copper Results Rock Sampling 2023 – New Mineral Claims.

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Figure 3. Sulphide mineralization in disturbed outcrop and dump material Marshall Lake.

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As the Company awaits drilling permits from the BC Government, significant ground based prospecting and sampling programs have been executed at the newly staked Marshall Lake claims as well as at a number of other exploration target areas including Midway, Imperial, Sappho-West Lexington and Beaverdell areas (Figure 4). A total of more than 800 rock samples and 3,800 soil samples have been collected during the 2023 field season. Results will be announced as they are received and interpreted over the coming weeks.

Update on Drilling:

Drilling will initially be focused at the historical Midway Mine (Figure 4) but the intent is that eventually the Company will complete new drilling in 2024 at Midway, Imperial, Copper Mountain (Mable Jenny, Coronation and Prince of Wales targets), and potentially the Sappho areas, depending upon the timing of the receipt of drill permits, additional funding and weather permitting. We eagerly await drilling permits from the BC Ministry of Energy Mines and Petroleum Resources. The permit applications were submitted initially in January-February of this year and the Company is now awaiting final comments and any required conditions or changes resulting from the recently completed 30 day notification periods. Archaeological and biological surveys are being conducted where required.

Summary of 2023 Exploration at Greenwood:

An extensive rock and soil sampling program along with new geological mapping during 2023 has been conducted in preparation for drilling. The work has yielded two new showings identified near the historical Midway Mine including up 5.64 g/t Au from a showing 400 m to the north of the Midway Mine and a second showing along an apparent fault structure with 4.19 g/t Au from a grab sample collected about 375 m to the west of the Midway Mine. At least 6 new areas with anomalous gold (> 100 ppb Au), silver or copper in soils have been identified across the Midway Mine Property with the results from follow up exploration in progress (See Company News Release Dated October 12, 2023). A summary of all the Midway results will be provided once all the results are received.

Figure 4: Grizzly active exploration target areas 2023.

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To date, gold-silver-base metal mineralization appears to be related to veins and stockworks at contacts between altered ultramafic-carbonate rocks (listwanites) in contact with diorite intrusions in a complex structural setting, with the intersections of structures playing a key role in the localization of alteration.

At the historical Imperial Mine area, a total of 50 new rock grab and rock chip samples were collected from the Imperial showing area, with 6 samples returning greater than 1 (g/t) gold (Au) up to 12.1 g/t Au and 8 samples retuning greater than 40 g/t silver (Ag) up to 469 g/t Ag (Figure 4). The samples define a targeted north – south strike length of over 170 m for future drilling. The samples show significant amounts of lead (Pb), zinc (Zn) and Cu with several samples yielding greater than 2% combined base metals (See Company News Release Dated October 12, 2023). Geological mapping is in progress and ground geophysical surveys are planned prior to conducting drilling at this target.

The Copper Mountain area continues to yield excellent results from a number of showings including the Coronation and Prince of Wales historical mines along with the Mabel Jenny area (Figure 4). A total of 9 of 14 rock grab and chip samples collected this year from a new zone discovered late in 2022 has yielded greater than 1 g/t Au up to 13.75 g/t Au (along with up to 61.9 g/t Ag) and up to 0.475% Cu and 2.93% Zn (See Company News Release Dated October 12, 2023). The discovery was made along a new logging road cut late in 2022 and appears to demonstrate quartz vein stockwork mineralization in an altered diorite over a strike length of more than 400 m when combined with anomalous samples from 2022.

Geological and prospecting crews have concluded prospecting, geological mapping, rock and soil sampling within the Greenwood Project area and have conducted an initial pass at the new mineral claim area staked August 1, 2023 (See Company News Release dated September 7, 2023). A number of existing showings and parts or extensions to known showings have been acquired with the staking of the new mineral claims including but not limited to Marshall Lake, Sylvester K, the Great Laxey, Eholt and lands adjacent to and surrounding the historical Phoenix Mine. Results from the initial sampling programs on these new claims will be released as they are received.

The geological and prospecting crew has made several discoveries of sulphide, quartz vein zones and skarn on the new claims (Figures 1 and 2). Sulphide showings associated with skarn at Marshall Lake hosted in Triassic Brooklyn Formation sedimentary rocks including limestone that has been intruded by diorite. The showings have been trenched and bulk sampled in the past (1960’s to 1970’s) yielding significant copper, silver and gold. Little to no modern exploration has been performed at the Marshall Lake target as well as a number of other showings in the Brooklyn sequence such as the Great Laxey.

The goal is to have a pipeline of high priority precious metal and battery metal targets that are all permitted and ready for a long 2024 drilling campaign in order to prioritize these assets into those that can deliver future mineral resources with additional drilling, eventually leading to some form of economic studies and scenarios that might be able to take advantage of local toll treating opportunities that exist in the Greenwood – Republic region.

Quality Assurance and Control

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.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.

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188469

Base Metals Collective Mining Energy Junior Mining

Collective Mining Exploration Update: Trap Drilling Underway and Short Hole Drill Program at Apollo Delivers High-Grade Intercepts

Post author By admin
Post date November 22, 2023

Drilling is now underway at the Guayabales Project’s Trap porphyry target (“Trap”) with the objective of following up on the 2022 discovery hole TRC-1, which intersected 102.20 metres of gold-silver-copper mineralization averaging @ 1.53 g/t gold equivalent.
Trap is located approximately three kilometres to the northeast of the Company’s flagship Apollo porphyry system (“Apollo”) and is significantly larger than Apollo in dimensions measuring approximately 2 kilometres by 2 kilometres in area.
The mineralization styles and geochemical signatures encountered at Trap are very similar to those observed at the Apollo system, namely porphyry vein and alteration systems being overprinted by subsequent carbonate base metal (“CBM”) sheeted vein systems.
High-grade assay results have been received from a short hole drill program at Apollo. The aim of the program was designed to provide important data for block modelling by infilling the shallowest portion of the dip of the system as it moves under cover, with results including:
- 130.45 metres @ 2.17 g/t gold equivalent from 119.90 metres downhole in APC-80.
- 98.75 metres @ 2.71 g/t gold equivalent from 132.35 metres downhole in APC-82.
Drilling in the southern part of Apollo into the porphyry halo located outside of the high-grade brecciated porphyry system has cut shallow, lower grade mineralization while extending the maximum known dimensions of the brecciated porphyry to 560 metres (previously 520 metres). The system remains open to the west, north and at depth. Assay results include:
- 109.15 metres @ 0.46 g/t gold equivalent from 7 metres downhole in APC-75.
Drilling continues at the Guayabales project with four rigs currently in operation and a backlog of assay results expected in short order. Assay results outstanding include a series of directional drill holes at Apollo as well as initial results from the ME target area.

Ari Sussman, Executive Chairman commented: “Trap is an extremely exciting target, one which we did not appreciate appropriately when the discovery hole was drilled in mid-2022 as our geological knowledge of the Guayabales project was only in its infancy. After careful review, it is now clear that the 2022 Trap discovery hole is hosted in a long and continuous zone of quartz diorite porphyry with overprinting styles of mineralization similar to those observed at Apollo. Trap possesses all the characteristics of a potentially large porphyry system, and we look forward to seeing what transpires from our drilling program now underway.”

TORONTO, Nov. 22, 2023 /CNW/ – Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that is has commenced drilling at the Trap target (“Trap”) and assay results for seven holes drilled in the Apollo porphyry system (“Apollo). Apollo and Trap are both targets within the Company’s flagship Guayabales project located in Caldas, Colombia. Presently, there are four diamond drill rigs operating at the Guayabales project as part of the Company’s planned 42,000 metre drilling program for 2023.

Details (See Table 1-4 and Figures 1-2)

This press release outlines details of the Trap target and results from seven holes drilled within and peripheral to the Apollo system.

Trap Target

The Company announces that drilling is now underway at the Trap target in the northern portion of the Guayabales project. Trap is located approximately three kilometres to the northeast of the Apollo Porphyry system in the largest porphyry intrusion centre outlined to date at the Guayabales project.

On September 27, 2022, grass roots reconnaissance drilling at Trap resulted in a porphyry discovery with drill hole TRC-1 assaying 102.20 metres @ 1.53 g/t gold equivalent (Table 1) including:

16.10 metres @ 2.63 g/t gold equivalent from 250.20 metres downhole related to a copper- gold-silver porphyry style mineralization (Table 2).
14.70 metres @ 2.00 g/t gold equivalent from 289.00 metres downhole related to gold-silver rich CBM style mineralization (Table 3).

Mineralization styles and metal geochemistry at Trap is very similar to the Apollo porphyry system in terms of gold, silver, and copper (see Tables 2 and Table 3). Hole TRC-1 intersected porphyry style mineralization (see Table 2, downhole depths from 250.2 metres to 266.30 metres) with secondary biotite, hydrothermal magnetite (up to 0.5%) in veinlets, albite, chlorite, chalcopyrite (up to 1.0 % and replacing the magnetite) and pyrite (up to 1.3%). Below this at 289.00 metres downhole, the hole entered into a polymetallic, CBM mineralization phase enveloped by strong sericite alteration. The sheeted carbonate veins host gold, silver, lead and zinc with sulphides including sphalerite (up to 0.5%), galena (up to 0.2%), pyrite (up to 2.0%), copper oxides, quartz, and carbonates.

Table 1: Assay Results for TRC-1 (announced September 27, 2022)

Hole #	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Mo (%)	AuEq (g/t*)
TRC-1	233.80	336.00	102.20	1.26	12	0.09	0.003	1.53
Incl	259.10	269.00	9.90	3.00	25	0.25	0.007	3.65
and incl	294.50	303.70	9.20	1.82	31	0.07	0.003	2.27

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag (g/t9 x 0.014 x 0.95) + (Cu (%) x 1.96 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $20/oz and Au – US$1,400/oz and recovery rates of 95% for Au, Ag and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. True widths are unknown, and grades are uncut. (See press release dated September 27, 2022)

Table 2: Individual Assay Results from Within Trap Hole TRC-1 Highlighting Porphyry Style Mineralization (Low Values of Zinc and Lead mineralization)

Hole #	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	Pb (%)
TRC-1	250.20	250.80	0.60	0.61	37	0.15	0.01	0.03
	250.80	251.40	0.60	1.95	37	0.34	0.01	–
	251.40	252.10	0.70	1.64	50	0.30	0.01	–
	252.10	252.80	0.70	1.46	33	0.30	0.01	–
	252.80	253.50	0.70	1.41	25	0.25	0.01	–
	253.50	254.20	0.70	2.27	21	0.29	0.01	–
	254.20	255.00	0.80	0.18	3	0.04	–	–
	255.00	255.80	0.80	0.28	2	0.04	0.01	–
	255.80	256.60	0.80	0.25	8	0.03	0.02	–
	256.60	257.20	0.60	0.40	12	0.03	0.05	0.01
	257.20	257.80	0.60	0.40	12	0.05	0.08	–
	257.80	258.40	0.60	0.51	11	0.02	0.01	–
	258.40	259.10	0.70	0.84	21	0.05	0.01	–
	259.10	259.80	0.70	1.33	24	0.13	0.01	–
	259.80	260.40	0.60	1.15	13	0.11	0.01	–
	260.40	261.00	0.60	1.60	26	0.13	0.03	0.01
	261.00	261.60	0.60	1.37	14	0.12	0.01	–
	261.60	262.30	0.70	0.99	12	0.10	0.01	–
	262.30	263.00	0.70	11.12	62	0.47	0.01	–
	263.00	263.70	0.70	3.39	21	0.16	0.07	–
	263.70	264.30	0.60	2.21	36	0.19	0.24	0.01
	264.30	265.00	0.70	2.25	24	0.21	0.02	–
	265.00	265.65	0.65	4.06	79	0.38	0.11	–
	265.65	266.30	0.65	7.70	39	0.50	0.02	–

Table 3: Assay Results for Within Trap Hole TRC-1 Highlighting Later Stage CBM Style Vein Overprinting Mineralization (Zinc and Lead Enriched Mineralization)

Hole #	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	Pb (%)
TRC-1	289.00	289.80	0.80	1.14	4	0.22	0.01	–
	289.80	290.40	0.60	1.62	4	0.21	0.04	–
	290.40	291.00	0.60	1.19	19	0.06	0.61	0.01
	291.00	291.70	0.70	1.44	17	0.26	0.08	–
	291.70	292.50	0.80	1.03	20	0.17	0.07	–
	292.50	293.20	0.70	0.90	20	0.05	0.05	0.01
	293.20	293.90	0.70	0.72	8	0.01	0.16	0.07
	293.90	294.50	0.60	1.41	29	0.08	0.84	–
	294.50	295.20	0.70	2.11	37	0.11	1.53	0.01
	295.20	295.80	0.60	3.13	37	0.10	0.22	0.01
	295.80	296.40	0.60	1.36	30	0.03	0.02	0.03
	296.40	297.00	0.60	1.16	21	0.04	0.08	0.10
	297.00	297.60	0.60	0.90	14	0.07	0.03	0.02
	297.60	298.20	0.60	1.29	69	0.16	0.52	0.16
	298.20	299.00	0.80	2.82	21	0.07	0.04	0.03
	299.00	299.70	0.70	0.95	16	0.07	0.06	0.04
	299.70	300.60	0.90	1.36	17	0.04	0.04	0.01
	300.60	301.20	0.60	1.32	5	0.01	0.01	–
	301.20	301.70	0.50	1.48	10	0.01	0.06	0.05
	301.70	302.20	0.50	1.80	49	0.06	0.40	0.26
	302.20	303.00	0.80	3.79	81	0.08	0.54	0.40
	303.00	303.70	0.70	1.34	18	0.11	0.09	0.01

Apollo Drilling

Three holes were drilled from Pad 12 in order to better outline the shallowest portion of the dip of the system for block modelling. High-grade and shallow brecciated porphyry mineralization was intersected in holes APC-80, APC-82 and APC-84 (see Table 4) and was fringed to the north by lower grade and peripheral mineralization. These three holes have added grade and volume at shallow levels to the Apollo system with assay results as follows:

130.45 metres @ 2.17 g/t gold equivalent from 119.90 metres downhole in APC-80.
98.75 metres @ 2.71 g/t gold equivalent from 132.35 metres downhole in APC-82.
53.70 metres @ 0.67 g/t gold equivalent from 120.00 metres downhole in APC-84.

Additionally, from Pad 3, drillhole APC-75, APC-77 and APC-79 (see Table 4) were fanned in southerly directions to test for the potential of the low-grade halo of mineralization surrounding the main brecciated high-grade Apollo system. These holes were drilled so that the Company can begin to assess the potential of the low-grade halo and its potential to positively impact future mining scenarios as well as determining the eastern boundary of the Apollo intrusion. Assay results are as follows:

109.15 metres @ 0.46 g/t gold equivalent from 7.00 metres downhole in APC-75.
36.10 metres @ 0.36 g/t gold equivalent from 52.40 metres downhole in APC-77.

As a result of drill holes APC-75 and APC-77, the maximum known strike of the Apollo system has been extended by 40 metres and now measures 560 metres in length.

Finally, a seventh hole, APC-76 was drilled to the west from Pad 5 with the objective of intersecting a deep zone of the brecciated porphyry. Unfortunately, the hole was abandoned at a shallow depth before reaching the target zone when it entered a fault zone and encountered mechanical problems.

Table 4: Assay Results for Apollo Drilling

Hole #	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Mo (%)	WO₃ (%)	AuEq (g/t*)
APC-75	7.00	116.15	109.15	0.27	6	0.05	0.002	0.01	0.46
Incl	109.75	116.15	6.40	3.42	9	0.04	0.003	–	3.54
and	302.25	337.05	34.80	0.23	21	0.06	0.005	–	0.66
Incl	333.40	335.10	1.70	3.87	351	0.07	0.003	–	9.21
APC-76	Hole abandoned due to technical issues
APC-77	52.40	88.50	36.10	0.08	10	0.07	0.003	–	0.36
APC-79	no significant interval; drilled outside the Apollo intrusion
APC-80	119.90	250.35	130.45	1.30	33	0.19	0.001	0.03	2.17
incl	139.00	155.30	16.30	2.72	23	0.05	0.002	0.01	3.11
and incl	159.05	173.10	14.05	0.87	55	0.16	0.002	0.26	2.76
and incl	213.50	250.35	36.85	2.57	16	0.13	0.001	–	2.95
APC-82	70.00	105.80	35.80	0.46	8	0.01	–	–	0.58
and	132.35	231.10	98.75	1.27	52	0.39	–	0.03	2.71
incl	152.20	175.05	22.85	1.27	22	0.06	–	0.02	1.69
and incl	175.05	204.65	29.60	1.81	82	0.75	0.001	0.09	4.43
and incl	204.65	231.10	26.45	1.42	79	0.54	0.001	0.01	3.42
APC-84	120.00	173.70	53.70	0.51	10	0.02	0.001	–	0.67
Incl	147.50	166.20	18.70	1.05	15	0.02	0.001	–	1.29
and	257.60	269.25	11.65	0.93	5	0.03	0.002	0.01	1.08

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag (g/t) x 0.016 x 0.88) + (Cu (%) x 1.79 x 0.90)+ (Mo (%)*11.62 x 0.85) + (WO3 (%)*6.54 x 0.50) utilizing metal prices of Cu – US$3.85/lb, Ag – US$24/oz Mo – US$25/lb, WO3 – US$31,000/t and Au – US$1,475/oz and recovery rates of 97% for Au, 88% for Ag, 85% for Mo, 50% for WO3 and 90% for Cu. Recovery rate assumptions for gold are based on metallurgical results announced on October 17, 2023. Recovery rates for copper, molybdenum, tungsten and silver are speculative as limited metallurgical work has been completed to date on these metals. True widths are unknown, and grades are uncut.

Exploration Drill Program and Assay Update

Diamond drilling at the Guayabales project now totals 123 drill holes (approximately 48,751 meters) completed and assayed. The 2023 Phase II drilling program is advancing on schedule with assay results reported for 52 holes and an additional ten holes awaiting assay results from the lab.

The Company now has four diamond drill rigs operating within the Guayabales project area with the following objectives for the remainder of 2023:

Expanding the Apollo porphyry system both laterally and vertically. The Company is currently advancing with directional drilling utilizing two rigs aimed at expanding the Apollo system at depth, to the west and north.
Drill test the Trap target in the northern portion on the Guayabales project. Three widely spaced reconnaissance holes were completed at Trap in 2022 with the discovery hole, TRC-1 assaying 102.2 metres @ 1.53 g/t gold equivalent and containing similar mineralization to the Apollo porphyry system. Follow up drilling is now underway and initial assay results are expected in due course.

Figure 1: Plan View of Targets Generated at the Guayabales Project, Highlighting the Trap Target Where Drilling has Now Commenced (CNW Group/Collective Mining Ltd.)

Figure 2: Plan View of the Apollo System Highlighting Assay Results For Drill Holes Announced in This Release (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver, and gold exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo system, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The Company’s near-term objective is to drill the shallow portions of the Apollo system, continue to expand the overall dimensions of the system, which remains open in most directions and test newly generated grassroots targets.

Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSX under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock, soils and core samples have been prepared and analyzed at SGS and ALS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski73) and Collective Mining (@CollectiveMini1) on Twitter.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative 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) are not statements of historical fact and may be forward-looking information. In this news release, forward-looking information relate, among other things, to: anticipated advancement of mineral properties or programs; future operations; future recovery metal recovery rates; future growth potential of Collective; and future development plans.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others: risks related to the speculative nature of the Company’s business; the Company’s formative stage of development; the Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated April 7, 2022. Forward-looking information contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

Collective Mining Ltd. Logo (CNW Group/Collective Mining Ltd.)

SOURCE Collective Mining Ltd.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2023/22/c9847.html

Junior Mining Precious Metals

Ridgeline Minerals Completes 2,000 Meter Drill Program at the Selena Project, Nevada

Post author By admin
Post date November 22, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 22, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (“Ridgeline” or the “Company“) is pleased to announce the completion of its 2023 diamond core drill program totaling 2,034 meters (“m”) at its Selena silver (“Ag”) – lead (“Pb”) – zinc (“Zn”) – gold (“Au”) carbonate replacement (“CRD”) exploration project in Nevada.

The program totaled five drill holes ranging from 125 m to 690 m depth and targeted shallow-oxide CRD mineralization in the Upper Chinchilla Zone as well as testing for the first time beneath Chinchilla for stacked mineralization at depth (Figure 1 & Table 1). Drill samples have been regularly submitted to the lab for analysis over the past six weeks with assay results expected to be released in December 2023.

Mike Harp, Ridgeline’s Vice President, Exploration commented, “This year’s program had two primary objectives, upgrade the known Upper Chinchilla Zone and test prospective carbonate host horizons at depth for new discoveries. Results so far have confirmed the high-grade nature of the Upper Chinchilla Zone, and we are encouraged by the level of alteration observed in new potential host horizons at depth. We look forward to updating shareholders as assays are received over the coming weeks.”

Summary of SE23-049 & SE23-050 (assays pending)

Drillhole SE23-049 intersected the Upper Chinchilla Zone horizon over a roughly 9 m thick interval at depths consistent with nearby drillhole SE21-024 (Figure 2).
- 2.7m of total core loss was encountered in the middle of the aforementioned 9 m interval which is interpreted as a collapse breccia zone or cave resulting in no core recovery.
Drilling beneath the upper zone intersected multiple stacked zones of CRD style alteration ranging from 1-5m thickness extending down to 665 meters downhole. (see core photo in Picture 1)

Picture 1: Core photos of CRD alteration and corresponding shortwave UV “BBQ Rock” at depth in SE23-049. Tracking of fugitive calcite is a proven vectoring technique and indicator of proximity to a CRD system

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_002full.jpg

Drillhole SE23-050 intersected the Upper Chinchilla Zone horizon over a roughly 25 m thick interval at depths consistent with nearby drillholes SE21-025 and SE22-045 (Picture 2 & Figure 2).
Drilling beneath the Upper Chinchilla Zone intersected intervals of CRD style alteration ranging from 1-3m thickness down to 400 meters downhole as well as UV fluorescing “BBQ Rock” (fugitive calcite) vein breccia intervals down to 600m depth. (see core photo in Picture 3)

Picture 2: Representative core and shortwave UV photo of the Upper Chinchilla Zone SE23-050. Note the lack of “BBQ Rock” fugitive calcite veins, which typically occur on the margins of the CRD system

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_003full.jpg

Picture 3: Core and Shortwave UV photo of “BBQ Rock” (fugitive calcite veins) at depth in SE23-050.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_004full.jpg

Previously Announced 2023 Drill Results

SE23-048: 0.9 m grading 720.3 g/t Ag, 12.0% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t Silver Equivalent “AgEq”) within 10.9 m grading 94.1 g/t Ag, 1.3% Pb, 0.7% Zn, 0.2 g/t Au (or 182.9 g/t AgEq) starting at 85.3m true vertical depth (“TVD”) (Figure 2)
- And: 0.6 m grading 3.6 g/t Ag, 2.4% Sb, 0.1 g/t Au starting at 240 m TVD
- And: 3.6 m grading 0.5 g/t Ag, 1.2% Sb, NA g/t Au starting at 247 m TVD
- See October 12, 2023 Press Release HERE
SE23-047: 4.6 m grading 55.2 g/t Ag, 1.2% Pb, 7.2% Zn, 0.2 g/t Au (or 421.1 g/t AgEq) and 2.8 m grading 205.8 g/t Ag, 1.4% Pb, 0.3% Zn, 1.4 g/t Au (or 386.1.1 g/t AgEq) within 60.7 m grading 69.8 g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq) starting at 93.8 m TVD (Figure 2)
- See October 12, 2023 Press Release HERE
SE23-046: 7.3 m grading 64.2 grams per tonne (“g/t”) Ag, 0.8% Pb, 2.9% Zn and 0.1 g/t Au (or 219.4 g/t AgEq”)
- Assays in SE23-046 are from the top of the Upper Chinchilla Zone prior to the hole being abandoned due to bad ground conditions in a mineralized breccia zone.
- See October 12, 2023 Press Release HERE

Silver Equivalent Calculation: Metal Prices ($20 Ag, $0.90 Pb, $1.25 Zn, 1800 Au, no recovery factor applied) Silver g/t + (Gold g/t * (Gold Price/ Silver Price)) + ((22.0462* Lead Price)/ ((1/31.1035) * (Ag Price)) * Lead %) + ((22.0462* Zinc Price)/ ((1/31.1035) * (Ag Price)) * Zinc %)

Table 1: Collar table of all 2023 drill holes

Drillhole ID	Azimuth	Dip	Total Depth (m)
SE23-046	266	-51	127.0
SE23-047	270	-49	200.0
SE23-048	269	-86	332.0
SE23-049	026	-63	689.0
SE23-050	010	-75	686.0

Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers (“km”) north of the town of Ely, NV. The Project shares a property boundary with the Butte Valley project, a US $33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline’s shallow-oxide 2020 Ag-Au ± Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)

Figure 1: Plan view map showing locations of SE23-046 to SE23-050 as well as previous highlight drill results at the Chinchilla Zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_005full.jpg

Figure 2: Long-Section C-C’ showing 2023 drilling. Assays pending on SE23-049 and SE23-050

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/188360_8677844b5489584a_006full.jpg

QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are analysed by Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline’s QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company’s Qualified Person, Michael T. Harp, Vice President, Exploration.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. the Company’s Vice President, Exploration, who is Ridgeline’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 204 km² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

On behalf of the Board
“Chad Peters”
President & CEO

Further Information:
Chad Peters, P.Geo.
President, CEO & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@ridgelineminerals.com

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

Cautionary Note regarding Forward-Looking Statements

Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words “potential”, “anticipate”, “meaningful”, “discovery”, “forecast”, “believe”, “estimate”, “expect”, “may”, “will”, “project”, “plan”, “historical”, “historic” and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline’s public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188360

Energy

Rover Metals Holds Meeting with BLM to Discuss and Review Project Description for Let’s Go Lithium Project, NV, USA

Post author By admin
Post date November 22, 2023

VANCOUVER, BC / ACCESSWIRE / November 22, 2023 / Rover Metals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce it has conducted a successful meeting with the Bureau of Landa Management (“BLM”) and numerous other U.S. government agencies to discuss the Project Description for the Let’s Go Lithium (“LGL”) project. Rover updated the original project description to address environmental concerns expressed by the agencies. The Project Description, is in effect, an executive summary of the Company’s Plan of Operations (the “Plan”) for the LGL project. The meeting was held to solicit feedback as the Company moves to finalize its Plan.

LGL Plan of Operations

Rover has been working with McGinley and Associates, dba UES (“UES”) since August 2023 to produce a water table flow model across the subject claim blocks. Although still in draft form, the water table flow model, developed by UES’ Principal Hydrologist – Dwight Smith PE, PG, CHg, and team, is an integral part of Rover’s new Plan. Following the Company’s release of July 24, 2023, the BLM, and supporting U.S. government agencies voiced their concerns to Rover about regional hydrology flow systems in the area. The revised plan has been developed to explicitly address the agencies environmental concerns, de-risking future regulatory challenges and potential for adverse environmental impacts. Further to the Company’s release of October 5, 2023, approximately 80% of the Company’s intended future exploration activities will occur on the recently acquired October mining claims.

Judson Culter, CEO at Rover Metals, states, “UES continues to help Rover to ensure that there will be no impact to the critical water tables and sensitive biological resources in the Amargosa basin. Dwight Smith has over 20 years of hydrogeology experience working in the Amargosa basin. Rover and UES have obtained a copy of the Plan of Operations and Environmental Assessment study that the neighbouring mine, operated by Lhoist North America, is operating under. Lhoist has been mining in the area for over 50 years, and their Plan of Operations was mostly recently updated in 1992. Management at Rover, and UES, feel confident that sustainable lithium mining can be supported in the Amargosa Valley.“

A Call for Battery Recycling Partnerships and Joint Ventures

Management at Rover has met with the Nevada State Governor’s Office to discuss developing partnerships with EV battery recycling companies in the city of Las Vegas. Management of the company will be continuing to pursue high-level joint venture opportunities at the state level in H1 of 2024.

The eastern Amargosa Valley has been slated for solar farm energy development by the BLM. Solar energy, in addition to the existing hydro energy infrastructure in the area, allows for new development opportunities like EV raw materials battery recycling. Rover is seeking inbound requests to partner with recycling technology companies. Please contact info@rovermetals.com with inquiries. The LGL project is a one and half hour drive from the city of Las Vegas, one of the fastest growing cities in the U.S.

About Rover Metals

Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of the U.S. and Canada.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS

“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:

Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Rover’s actual results, performance, achievements, or developments in the industry to differ materially from the anticipated results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

SOURCE: Rover Metals Corp.

Precious Metals

World’s largest cryptocurrency exchange Binance to pay $4B, founder to plead guilty to breaking US law

Post author By admin
Post date November 21, 2023

Binance, the world’s largest cryptocurrency exchange, will pay more than $4 billion in a plea agreement with the U.S. government, FOX Business has confirmed.

Prosecutors said CEO Changpeng Zhao will plead guilty in Seattle federal court Tuesday to violating U.S. law in a settlement that resolves a years-long criminal investigation, the Wall Street Journal first reported.

Binance faces three criminal charges for violating U.S. anti-money laundering law, a conspiracy charge and violating the International Emergency Economic Powers Act, court records show.

Zhao, who founded Binance in 2017 and guided it to a dominant position in cryptocurrency markets, will step down from the company and plead guilty to causing a financial institution to violate the Bank Secrecy Act. He has agreed to pay a $50 million fine, which will be credited against sums paid to the Commodity Futures Trading Commission (CFTC), prosecutors said.

GOP HOPEFUL VIVEK RAMASWAMY OUTLINES CRYPTO PLAN

Changpeng Zhao, chief executive officer of Binance, speaks during an interview in Tokyo, Japan, on Thursday, Jan. 11, 2018. (Akio Kon/Bloomberg via Getty Images / Getty Images)

The plea agreement calls for Zhao’s resignation as CEO and bars him from any present or future involvement in operating or managing the cryptocurrency exchange.

Binance agreed to pay a $1.81 billion criminal fine within 15 months of sentencing. Prosecutors said the company also consented to a $2.51 billion order of forfeiture.

FORMER NYSE PRESIDENT IN TALKS TO REBOOT FTX EXCHANGE

The firm’s former chief compliance officer Samuel Lim will also be charged as part of the settlement, Reuters reported.

Changpeng Zhao, founder and chief executive officer of Binance, attends the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 16, 2022. (REUTERS/Benoit Tessier/File Photo / Reuters Photos)

Attorney General Merrick Garland and Treasury Secretary Janet Yellen are scheduled to appear at a Justice Department press conference at 3 p.m. ET to announce “cryptocurrency enforcement actions.”

WINNER OF $1.35B MEGA MILLIONS JACKPOT SUING DAUGHTER’S MOTHER FOR ALLEGEDLY TELLING HIS FAMILY ABOUT THE WIN

The SEC in June filed a civil complaint against Binance and its founder, Zhao, accusing them of creating Binance.US as part of a “web of deception” to evade securities laws aimed at protecting U.S. investors. That same month, Binance.US laid off around 50 employees, a source told Reuters at the time.

DOJ prosecutors asked the company in December 2020 to provide internal records about its anti-money laundering efforts, along with communications involving Zhao, who founded the company in 2017.

The Binance Exchange website on a laptop computer arranged in Dobbs Ferry, New York, on Saturday, Feb. 20, 2021. (Getty / Getty Images)

The CFTC in March filed civil charges against Binance, alleging it failed to implement an effective anti-money laundering program to detect and prevent terrorist financing. Citing internal communications, CFTC alleged that Binance officers and employees acknowledged the platform had facilitated “potentially illegal activities.”

In February 2019, Binance’s former Chief Compliance Officer Lim received information on transactions by the militant Palestinian group Hamas on Binance, the CFTC wrote.

CLICK HERE TO READ MORE ON FOX BUSINESS

Binance has also seen a number of recent executive exits. Its global head of product, Mayur Kamat, resigned in September and its chief strategy officer, Patrick Hillmann, left in July.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The crypto giant and the industry at large have fallen under greater scrutiny from regulators after the collapse of Binance’s one-time chief rival, FTX, last November.

FOX Business’ Susan Li, Breck Dumas and Reuters contributed to this report.

Original Source: https://www.foxbusiness.com/markets/worlds-largest-cryptocurrency-exchange-binance-pay-4b-founder-plead-guilty-breaking-us-law

Precious Metals

World Platinum Investment Council | Quarterly Covering Q3 2023, An Updated Estimate For FY 2023 and a First Forecast for 2024

Post author By admin
Post date November 21, 2023

https://platinuminvestment.com/

Gold Shore Resources Junior Mining Precious Metals

Goldshore Closes Non-Brokered Private Placement of $3.75 Million

Post author By admin
Post date November 20, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 20, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce that it has closed its previously announced private placement (the “Private Placement“), for aggregate gross proceeds of $3.75 million. The Company issued the following securities:

(i) 37,500,000 units of the Company (“Units“) at a price of $0.10 per Unit. Each Unit consists of one common share (each, a “Common Share“) and one common share purchase warrant (each whole warrant, a “Warrant“); and

(ii) Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share“) at an exercise price of $0.13 per Warrant Share for the next thirty-six (36) months until November 17, 2026.

The net proceeds from the Private Placement will be used to continue to advance the Moss Gold Project through development of a new resource model and a new mineral resource estimation; in addition to continuing the engineering and metallurgical studies being done on various leach methodologies (including heap leach) and ultimately factoring this new information into a preliminary economic assessment, along with working capital and general corporate purposes.

In connection with the Private Placement, the Company paid a finder’s fee of 1,008,000 Units to Eventus Capital Corp. There were no cash finder’s fees paid in connection with the Private Placement.

The securities issued pursuant to the Private Placement, and any Common Shares issued on exercise of Warrants, are subject to a four-month and one day hold period under applicable securities laws in Canada and TSX Venture Exchange (“TSXV“) hold period, as applicable, expiring on March 18, 2024.

Certain directors and officers of the Company have participated in the Private Placement. Brett A. Richards, a director and officer of the Company, subscribed for 900,000 Units; Marlis Yassin, an officer of the Company, subscribed for 100,000 Units; Victor Cantore, a director of the Company, subscribed for 750,000 Units; Shawn Khunkhun, a director of the Company, subscribed indirectly for 250,000 Units; Joanna Pearson, a director of the Company, subscribed for 100,000 Units; and Peter Flindell, an officer of the Company, subscribed for 300,000 Units (collectively, the “Related Party Participation“). The Related Party Participation constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Pursuant to sections 5.5(a) and 5.7(1)(a), the Company is exempt from obtaining a formal valuation and minority approval of the Company’s shareholders in respect of the Related Party Participation due the fair market value of the Related Party Participation being below 25% of the Company’s market capitalization for the purposes of MI 61-101.

The Company will file a material change report in respect of closing of the Private Placement. However, the material change report will be filed less than 21 days prior to the closing of the Private Placement, which is consistent with market practice and the Company deems reasonable in the circumstances.

Issuance of RSUs

The Company has also issued 600,000 restricted share units (“RSUs“) to Kyle Hickey, a director of the Company. The RSUs will fully vest on November 17, 2024, one year from the date of grant. Once vested, each RSU represents the right to receive one Common Share, the equivalent cash value thereof, or a combination of the two, at the Company’s discretion. The issuance of RSUs have been made in accordance with the Company’s Omnibus Incentive Plan (the “Plan“) that was approved by the Company’s directors on November 8, 2022. The Plan remains subject to the approval of the shareholders of the Company at its next Annual General and Special Meeting. Any grants of share-based compensation made under the Plan prior to approval of the Plan by shareholders, including the aforementioned grant of the RSUs and the grant of RSUs noted below, will be subject to the approval of disinterested shareholders at the next Annual General and Special Meeting of the Company. The Company anticipates holding its next Annual General and Special Meeting of shareholders on January 23, 2024.

Early Warning Disclosure

The Company has been advised that following the: (i) acquisition as part of the Private Placement by Brian Paes-Braga (“Acquiror”) of 15,000,000 Units, issued for a price of $0.10 per Unit for total consideration paid by Acquiror of $1,500,000, and (ii) grant by the Company of 600,000 RSUs to Acquiror, the Acquiror has beneficial ownership, control or direction of 15,675,000 Common Shares representing 6.34% of the issued and outstanding Common Shares, and would have beneficial ownership, control or direction of 31,275,000 Common Shares representing 11.90% of the Common Shares on a partially diluted basis assuming the exercise of Warrants and settlement of RSUs. The Acquiror has beneficial ownership of 15,000,000 Warrants representing 17.73% of the issued and outstanding Warrants. The Acquiror has beneficial ownership of 600,000 RSUs representing 12.84% of the issued and outstanding RSUs. Prior to the Private Placement, the Acquiror had beneficial ownership, direction or control of 675,000 Common Shares, representing 0.27% of the issued and outstanding Common Shares. The Company has been advised that the Acquiror acquired these securities for investment purposes and their acquisition will be disclosed in an early warning report to be filed under the Company’s SEDAR+ profile. The Acquiror may in the future acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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

About Goldshore

Goldshore is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario. The Company is well-financed and supported by an industry-leading management group, board of directors, and advisory board. Goldshore is well positioned to advance the Moss Gold Project through the next stages of exploration and development.

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements” within the meaning of Canadian securities laws. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, use of proceeds related to the Private Placement, filing of a material change report with respect to the Private Placement, shareholder meetings and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188017

Base Metals Junior Mining Precious Metals

Aya Gold & Silver Reports High-Grade Drill Exploration Results and Adds 4 Permits at Boumadine

Post author By admin
Post date November 20, 2023

MONTREAL, Nov. 20, 2023 /CNW/ – Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the central and northern portions of the Main Trend, which remains open in all directions.

The Corporation has also added 4 permits to Boumadine, which now has a total surface footprint of 78 square kilometers (“km²”).

Key Highlights¹

Definition of new high-grade mineralization from the infill drilling program:
- BOU-DD23-180 intersected 1,039 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 23.5 meters (“m”) (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu)
- BOU-DD23-184 intersected 474 g/t AgEq over 30.1m (2.57 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu), including 3.2m at 1,339 g/t AgEq and 3.4m at 1,169 g/t AgEq
- BOU-DD23-172 intersected 2,689 g/t AgEq over 3.7m (22.03 g/t Au, 531 g/t Ag, 1.3% Zn, 0.3% Pb and 0.2% Cu)
- BOU-DD23-186 intersected 442 g/t AgEq over 16.6m (1.85 g/t Au, 150 g/t Ag, 1.9% Zn, 0.3% Pb and 0.1% Cu), including 2.7m at 1,088 g/t AgEq
- BOU-DD23-176 intersected 202 g/t AgEq over 30.6m (1.42 g/t Au, 20 g/t Ag, 0.6% Zn, 0.3% Pb and 0.05% Cu)
- BOU-DD23-178 intersected 613 g/t AgEq over 9.5m (2.70 g/t Au, 49 g/t Ag, 4.2% Zn, 1.8% Pb and 0.2% Cu), including 2.3m at 1,476 g/t AgEq
Acquisition of two mining permits totaling 15.8 km² north-east and south-west of Boumadine.
Acquisition of one mining and one exploration permit for a total of 20.0 km² west of Boumadine.

“The acquisition of new permits is core to our strategy of consolidating our land position, and the four permits provide additional upside potential in the vicinity of the Boumadine Main Trend,” said Benoit La Salle, President & CEO. “Today’s high-grade drilling results including BOU-DD23-180 and BOU-DD23-184 confirm both continuity of the Main Trend and its potential from surface and over a very wide area. Following the positive metallurgical test results, our team is now focused on completing the remaining 20% of the expanded drill program and delivering the Q1-2024 Boumadine resource estimate.”

__________________________________

¹ All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

DDH No.	Section	Zone	From (m)	To (m)	Au (g/t)	Ag (g/t)	Length* (m)	Cu (%)	Pb (%)	Zn (%)	Mo (g/t)	Ag Eq** (g/t)
BOU-DD23-172	8550N	Para	141.5	146.1	4.59	99	4.6	0.1	0.9	2.3	135	694
BOU-DD23-172	8550N	Main	151.8	155.5	22.03	531	3.7	0.2	0.3	1.3	9	2689
BOU-DD23-172	8550N	Para	163.5	169.2	2.61	100	5.7	0.1	0.1	4.1	8	589
Including			165.2	168.6	3.96	150	3.4	0.2	0.2	6.4	11	902
BOU-DD23-173	8025N	Main	203.5	214.1	1.60	22	10.6	0.0	0.1	1.2	6	246
BOU-DD23-176	8275N	Main	69.1	99.7	1.42	20	30.6	0.0	0.3	0.6	8	202
BOU-DD23-178	8275N	Main	166.4	175.9	2.70	49	9.5	0.2	1.8	4.2	36	613
Including			165.4	167.7	6.49	125	2.3	0.3	1.3	12.3	4	1476
BOU-DD23-179	8225N	Main	70.3	82.2	1.52	8	11.9	0.0	0.5	1.4	18	246
BOU-DD23-180	8375N	Para	127.7	136.5	1.27	21	8.8	0.0	0.5	2.5	17	298
BOU-DD23-180	8375N	Main	165.1	188.6	6.41	116	23.5	0.4	0.6	4.7	3	1039
BOU-DD23-180	8375N	Para	248.5	282.4	0.64	24	33.9	0.0	0.3	0.5	5	128
BOU-DD23-184	8225N	Main	104.8	134.9	2.57	85	30.1	0.1	0.6	2.2	15	474
Including			104.8	108.0	6.69	528	3.2	0.1	0.8	2.6	8	1339
Including			130.5	133.9	5.65	120	3.4	0.2	1.6	8.1	91	1169
BOU-DD23-186	8175N	Main	37.8	54.4	1.85	150	16.6	0.1	0.3	1.9	8	442
Including			45.4	48.1	6.03	381	2.7	0.2	0.5	1.7	12	1088
BOU-DD23-187	8225N	Main	183.6	193.3	1.27	33	9.7	0.0	0.2	1.9	33	271
BOU-DD23-189	8175N	Main	92.5	97.3	4.00	126	4.8	0.1	1.5	1.4	14	642
Including			94.3	97.3	5.95	179	3.0	0.2	2.2	1.2	15	896
BOU-DD23-189	8175N	Para	103.1	114.7	1.38	68	11.6	0.1	0.1	2.9	33	366
BOU-DD23-191	8175N	Main	158.5	169.5	1.61	30	11.0	0.1	0.2	3.4	12	377
Including			158.5	167.5	1.87	33	9.0	0.1	0.2	3.7	7	423
BOU-DD23-198	8675N	Para	185.8	196.1	2.59	63	10.3	0.2	0.2	2.1	6	451
Including			185.8	189.4	6.21	144	3.6	0.5	0.4	3.7	5	1006
BOU-DD23-200	8175N	Main	244.3	248.5	3.47	80	4.2	0.3	0.1	1.0	19	506
BOU-DD23-202	8675N	Main	349.2	355.2	4.31	129	6.0	0.1	0.6	1.4	41	645
Including			352.3	354.0	10.11	339	1.7	0.3	1.2	2.8	54	1522

*	True width remains undetermined at this stage; all values are uncut.
**	Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag; 1% Zn: 54.1 Ag.

Figure 1: Location of New Boumadine Permits (CNW Group/Aya Gold & Silver Inc)

Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes (CNW Group/Aya Gold & Silver Inc)

2023 Exploration Results

To date, 159 diamond drill holes (“DDH”) for a total of 61,312m have been completed at Boumadine in 2023 (Figure 2 and Appendix 2). Both infill and exploration drilling were conducted on strike along the Main Trend (South, Central, and North Zones).

Most results have been received for drill holes up to BOU-DD23-203 (Table 1, Figure 4, Figure 5, and Appendix 1).

Results received since September 2023 confirm the high grade of the north and central sections of the Main Trend, notably with holes BOU-DD23-180 and BOU-DD23-184 intersecting large, mineralized zones.

The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones.

Figure 3 – Longitudinal View of Boumadine Main Zone (CNW Group/Aya Gold & Silver Inc)

Figure 4 – Surface Plan of Central & North Zones with New 2023 DDH Results (CNW Group/Aya Gold & Silver Inc)

Next Steps

The 76,000m drilling program is 80% complete and is expected to be completed at year-end 2023. The Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.

Fieldwork will commence on the new permits in 2024 and will combine a hyperspectral survey, ground geophysics, mapping and prospecting.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

Aya’s management team maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “confirm”, “potential”, “complete”, “expect” “extend”, “belief”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Boumadine and the advancement of and success of the exploration program at Boumadine , and timing for the release of the Company’s disclosure in connection with the foregoing. Although the forward-looking information contained in this press release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions, and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya’s 2022 Annual Information Form dated March 31, 2023, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

Appendix 1 – Full Drill Results from Boumadine (core lengths)

DDH No.	Section	Zone	From (m)	To (m)	Au (g/t)	Ag (g/t)	Length* (m)	Cu (%)	Pb (%)	Zn (%)	Mo (g/t)	Ag Eq** (g/t)
BOU-DD23-165	8125N	Para	280.1	282.1	4.69	84	2.0	0.3	0.1	0.3	47	589
BOU-DD23-165	8125N	Para	297.0	298.0	0.37	24	1.0	0.0	0.1	2.6	8	209
BOU-DD23-165	8125N	Para	333.0	333.5	0.26	42	0.5	0.0	1.3	4.1	7	327
BOU-DD23-165	8125N	Main	462.7	463.7	0.36	12	1.0	0.0	0.1	0.2	4	60
BOU-DD23-165	8125N	Para	546.2	546.9	0.60	25	0.7	0.0	0.5	0.6	4	127
BOU-DD23-166	8850N	Para	140.0	141.0	0.32	43	1.0	0.0	0.1	0.8	2	119
BOU-DD23-166	8850N	Para	141.7	142.5	0.09	48	0.8	0.0	0.3	0.6	9	99
BOU-DD23-167	8025N	NSR	0.0	163.4	0.00	0	163.4	0.0	0.0	0.0	0	0
BOU-DD23-168	8325N	Para	125.4	126.4	4.35	16	1.0	0.0	0.4	0.8	1	480
BOU-DD23-170	8025N	Para	67.3	68.9	0.36	23	1.6	0.0	0.2	0.3	85	84
BOU-DD23-170	8025N	Main	86.5	87.6	2.59	63	1.1	0.1	0.3	0.6	304	382
BOU-DD23-170	8025N	Para	124.3	126.5	0.48	4	2.2	0.0	0.1	0.5	8	84
BOU-DD23-172	8550N	Para	128.3	130.1	0.26	23	1.8	0.0	0.6	0.7	68	108
BOU-DD23-172	8550N	Para	141.5	146.1	4.59	99	4.6	0.1	0.9	2.3	135	694
BOU-DD23-172	8550N	Main	151.8	155.5	22.03	531	3.7	0.2	0.3	1.3	9	2689
BOU-DD23-172	8550N	Para	163.5	169.2	2.61	100	5.7	0.1	0.1	4.1	8	589
Including			165.2	168.6	3.96	150	3.4	0.2	0.2	6.4	11	902
BOU-DD23-172	8550N	Para	244.8	245.6	1.29	41	0.8	0.0	0.2	0.4	3	194
BOU-DD23-173	8025N	Para	127.4	128.6	0.54	16	1.2	0.0	0.1	0.4	15	95
BOU-DD23-173	8025N	Main	203.5	214.1	1.60	22	10.6	0.0	0.1	1.2	6	246
Including			209.3	214.1	2.67	32	4.8	0.1	0.2	2.0	8	407
BOU-DD23-174	8025N	Main	287.1	290.3	1.90	40	3.2	0.1	0.2	0.3	19	260
Including			288.1	289.3	4.04	80	1.2	0.3	0.3	0.3	27	530
BOU-DD23-174	8025N	Para	435.0	435.5	3.29	126	0.5	0.2	0.7	0.3	4	492
BOU-DD23-175	8025N	Para	108.1	108.8	0.28	21	0.7	0.1	0.5	2.4	12	205
BOU-DD23-175	8025N	Para	183.6	187.0	0.05	45	3.4	0.0	5.7	1.5	9	317
BOU-DD23-175	8025N	Main	269.3	270.3	0.16	16	1.0	0.0	1.5	2.1	22	195
BOU-DD23-176	8275N	Para	45.3	46.0	0.54	13	0.7	0.0	0.1	5.1	15	347
BOU-DD23-176	8275N	Para	49.5	50.6	0.47	8	1.1	0.0	0.1	0.3	6	73
BOU-DD23-176	8275N	Main	69.1	99.7	1.42	20	30.6	0.0	0.3	0.6	8	202
BOU-DD23-177	8850N	Main	31.9	34.8	3.40	120	2.9	0.0	1.5	0.1	17	494
BOU-DD23-177	8850N	Para	43.0	44.0	0.76	29	1.0	0.0	0.7	0.7	24	160
BOU-DD23-178	8275N	Para	113.1	117.5	2.32	28	4.4	0.0	0.3	1.3	4	333
BOU-DD23-178	8275N	Para	132.1	132.8	0.39	40	0.7	0.0	1.6	2.2	2	251
BOU-DD23-178	8275N	Para	139.5	142.0	1.21	46	2.5	0.0	0.4	1.9	6	280
BOU-DD23-178	8275N	Para	151.8	152.7	0.76	12	0.9	0.0	0.2	0.3	2	107
BOU-DD23-178	8275N	Para	156.1	158.3	2.66	59	2.2	0.2	0.1	0.2	5	348
BOU-DD23-178	8275N	Main	166.4	175.9	2.70	49	9.5	0.2	1.8	4.2	36	613
Including			165.4	167.7	6.49	125	2.3	0.3	1.3	12.3	4	1476
BOU-DD23-179	8225N	Para	22.4	22.9	0.66	64	0.5	0.0	1.5	5.3	75	467
BOU-DD23-179	8225N	Para	24.5	25.0	0.73	33	0.5	0.1	0.5	2.8	16	271
BOU-DD23-179	8225N	Para	38.0	38.6	0.39	12	0.6	0.0	0.1	1.0	8	110
BOU-DD23-179	8225N	Para	44.0	47.4	1.17	28	3.4	0.0	0.1	1.1	17	203
BOU-DD23-179	8225N	Main	70.3	82.2	1.52	8	11.9	0.0	0.5	1.4	18	246
BOU-DD23-180	8375N	Para	104.7	105.6	0.40	24	0.9	0.0	0.9	2.3	1	217
BOU-DD23-180	8375N	Para	127.7	136.5	1.27	21	8.8	0.0	0.5	2.5	17	298
Including			129.4	133.5	2.18	31	4.1	0.1	0.3	3.4	28	440
BOU-DD23-180	8375N	Para	144.6	148.2	0.69	18	3.6	0.0	0.3	0.8	5	141
BOU-DD23-180	8375N	Para	155.6	156.4	0.59	24	0.8	0.0	0.3	2.2	107	217
BOU-DD23-180	8375N	Para	157.3	157.9	0.49	12	0.6	0.0	0.2	1.8	11	161
BOU-DD23-180	8375N	Para	159.8	160.3	2.62	67	0.5	0.1	0.5	3.7	7	538
BOU-DD23-180	8375N	Main	165.1	188.6	6.41	116	23.5	0.4	0.6	4.7	3	1039
BOU-DD23-180	8375N	Para	248.5	282.4	0.64	24	33.9	0.0	0.3	0.5	5	128
BOU-DD23-180	8375N	Para	296.0	297.0	0.64	8	1.0	0.0	0.0	0.1	11	73
BOU-DD23-180	8375N	Para	301.0	302.0	0.42	12	1.0	0.0	0.3	0.5	6	88
BOU-DD23-181	8025N	Main	345.1	345.9	0.99	48	0.8	0.1	2.4	2.6	3	376
BOU-DD23-181	8025N	Para	357.2	358.3	0.34	59	1.1	0.2	6.1	7.5	3	717
BOU-DD23-181	8025N	Para	480.2	480.7	0.35	33	0.5	0.0	1.3	0.9	34	159
BOU-DD23-181	8025N	Para	537.1	538.3	0.03	136	1.2	0.0	0.4	0.2	8	163
BOU-DD23-182	8275N	Para	145.3	145.9	0.74	24	0.6	0.0	0.9	1.4	45	202
BOU-DD23-182	8275N	Para	177.9	181.0	0.50	30	3.1	0.0	1.0	2.4	12	243
BOU-DD23-182	8275N	Main	189.2	192.0	0.82	23	2.8	0.1	2.0	1.2	31	248
BOU-DD23-182	8275N	Para	196.2	199.2	0.67	17	3.0	0.0	0.8	1.6	7	198
BOU-DD23-182	8275N	Para	201.2	205.4	0.43	16	4.2	0.0	0.6	2.1	4	190
BOU-DD23-183	8025N	Para	105.8	107.0	1.02	48	1.2	0.1	0.0	0.0	3	160
BOU-DD23-183	8025N	Para	287.7	288.7	0.64	7	1.0	0.0	0.3	0.1	6	85
BOU-DD23-183	8025N	Para	364.9	366.2	0.38	16	1.3	0.1	0.1	0.2	7	75
BOU-DD23-183	8025N	Main	507.6	514.0	0.80	23	6.4	0.0	0.4	0.6	10	146
Including			508.2	510.0	1.85	20	1.8	0.1	0.3	0.6	10	244
BOU-DD23-184	8225N	Para	59.7	60.2	0.52	33	0.5	0.0	0.6	4.6	40	358
BOU-DD23-184	8225N	Main	104.8	134.9	2.57	85	30.1	0.1	0.6	2.2	15	474
Including			104.8	108.0	6.69	528	3.2	0.1	0.8	2.6	8	1339
Including			130.5	133.9	5.65	120	3.4	0.2	1.6	8.1	91	1169
BOU-DD23-184	8225N	Para	135.9	136.9	0.36	12	1.0	0.0	0.3	5.7	9	369
BOU-DD23-185	8375N	Para	143.4	145.4	0.56	24	2.0	0.0	0.5	1.0	11	148
BOU-DD23-185	8375N	Para	175.6	176.5	4.97	252	0.9	0.4	2.7	8.5	16	1314
BOU-DD23-185	8375N	Main	204.6	210.9	0.16	1	6.3	0.0	0.0	0.1	11	26
BOU-DD23-185	8375N	Para	244.3	244.8	0.14	46	0.5	0.0	1.1	1.6	11	182
BOU-DD23-186	8175N	Main	37.8	54.4	1.85	150	16.6	0.1	0.3	1.9	8	442
Including			45.4	48.1	6.03	381	2.7	0.2	0.5	1.7	12	1088
BOU-DD23-187	8225N	Para	62.4	62.9	0.25	102	0.5	0.0	1.1	2.2	9	285
BOU-DD23-187	8225N	Para	157.4	157.9	0.97	77	0.5	0.0	1.8	2.8	20	378
BOU-DD23-187	8225N	Para	165.2	167.2	0.23	29	2.0	0.0	0.3	0.8	6	104
BOU-DD23-187	8225N	Para	168.2	169.1	0.24	34	0.9	0.0	2.0	1.6	12	206
BOU-DD23-187	8225N	Main	183.6	193.3	1.27	33	9.7	0.0	0.2	1.9	33	271
Including			188.9	192.3	2.19	44	3.4	0.1	0.2	3.6	61	462
BOU-DD23-187	8225N	Para	195.4	196.5	0.44	16	1.1	0.0	0.3	1.4	6	146
BOU-DD23-188	8275N	Para	9.0	10.0	0.03	56	1.0	0.0	9.8	0.7	9	407
BOU-DD23-188	8275N	Para	104.3	105.0	0.14	40	0.7	0.0	0.2	0.7	4	103
BOU-DD23-188	8275N	Para	179.2	180.2	0.32	36	1.0	0.0	0.4	1.6	9	168
BOU-DD23-188	8275N	Para	185.5	186.0	7.80	162	0.5	0.3	0.3	0.7	117	978
BOU-DD23-188	8275N	Para	190.9	191.4	0.47	41	0.5	0.0	1.0	3.1	8	289
BOU-DD23-188	8275N	Para	194.7	195.3	0.42	44	0.6	0.1	0.8	2.1	7	231
BOU-DD23-188	8275N	Main	216.8	218.8	1.37	26	2.0	0.0	0.3	0.3	5	188
BOU-DD23-188	8275N	Para	238.9	239.4	0.38	50	0.5	0.0	0.9	2.2	2	237
BOU-DD23-188	8275N	Para	280.6	283.4	0.39	36	2.8	0.0	0.2	1.2	27	149
BOU-DD23-189	8175N	Para	77.5	78.4	0.37	36	0.9	0.1	0.8	2.7	13	251
BOU-DD23-189	8175N	Para	89.3	90.4	0.38	24	1.1	0.0	0.3	0.7	6	110
BOU-DD23-189	8175N	Main	92.5	97.3	4.00	126	4.8	0.1	1.5	1.4	14	642
Including			94.3	97.3	5.95	179	3.0	0.2	2.2	1.2	15	896
BOU-DD23-189	8175N	Para	100.2	101.2	0.35	20	1.0	0.0	0.0	0.1	12	61
BOU-DD23-189	8175N	Para	103.1	114.7	1.38	68	11.6	0.1	0.1	2.9	33	366
BOU-DD23-190	8375N	Para	26.7	27.6	0.18	42	0.9	0.0	1.5	2.8	26	259
BOU-DD23-190	8375N	Main	249.1	250.9	0.14	79	1.8	0.0	0.7	1.2	56	183
BOU-DD23-191	8175N	Para	122.8	123.5	0.22	37	0.7	0.0	0.3	5.1	1	343
BOU-DD23-191	8175N	Para	140.9	142.0	1.08	12	1.1	0.0	0.2	0.6	1	154
BOU-DD23-191	8175N	Main	158.5	169.5	1.61	30	11.0	0.1	0.2	3.4	12	377
Including			158.5	167.5	1.87	33	9.0	0.1	0.2	3.7	7	423
BOU-DD23-192	8225N	Para	11.4	13.8	0.22	54	2.4	0.0	0.1	0.2	1	91
BOU-DD23-192	8225N	Para	127.2	127.7	0.64	63	0.5	0.0	1.3	3.2	4	343
BOU-DD23-192	8225N	Main	226.1	230.8	1.75	41	4.7	0.1	0.2	0.4	19	241
Including			228.1	230.8	2.31	58	2.7	0.1	0.3	0.5	12	323
BOU-DD23-192	8225N	Para	338.2	339.3	14.62	1	1.1	0.0	0.0	0.0	9	1371
BOU-DD23-194	8275N	Para	76.5	77.2	2.91	632	0.7	0.1	1.2	2.0	4	1063
BOU-DD23-194	8275N	Para	200.7	201.7	9.14	84	1.0	0.4	0.2	0.4	31	1024
BOU-DD23-194	8275N	Main	240.3	240.9	0.30	35	0.6	0.2	1.2	7.1	35	513
BOU-DD23-194	8275N	Para	277.6	278.7	0.41	19	1.1	0.0	1.2	1.5	20	179
BOU-DD23-195	8175N	Para	80.4	81.3	0.41	40	0.9	0.0	0.2	0.4	1	110
BOU-DD23-195	8175N	Para	84.6	85.4	0.51	36	0.8	0.0	1.2	2.3	4	245
BOU-DD23-195	8175N	Para	175.0	175.9	0.17	40	0.9	0.0	0.9	2.6	5	227
BOU-DD23-195	8175N	Main	185.0	185.5	0.75	44	0.5	0.0	1.5	3.9	1	376
BOU-DD23-195	8175N	Para	213.7	214.6	0.57	32	0.9	0.0	0.7	1.2	7	176
BOU-DD23-196	8225N	Para	15.3	16.3	0.56	16	1.0	0.0	0.1	0.2	19	82
BOU-DD23-196	8225N	Para	37.7	38.8	0.03	52	1.1	0.0	0.3	1.1	6	128
BOU-DD23-196	8225N	Para	85.6	86.4	4.83	112	0.8	0.0	0.4	0.7	1	614
BOU-DD23-196	8225N	Para	168.3	168.8	0.61	32	0.5	0.0	0.2	5.3	24	386
BOU-DD23-196	8225N	Para	215.2	216.4	1.75	19	1.2	0.1	2.6	1.4	25	351
BOU-DD23-196	8225N	Main	253.7	254.5	0.57	43	0.8	0.0	0.3	3.2	35	282
BOU-DD23-196	8225N	Para	407.9	408.5	0.52	79	0.6	0.0	0.2	1.6	5	224
BOU-DD23-198	8675N	Para	44.5	45.0	1.85	118	0.5	0.0	1.2	2.7	1	477
BOU-DD23-198	8675N	Para	71.0	73.1	1.66	41	2.1	0.0	1.0	2.9	44	392
BOU-DD23-198	8675N	Para	185.8	196.1	2.59	63	10.3	0.2	0.2	2.1	6	451
Including			185.8	189.4	6.21	144	3.6	0.5	0.4	3.7	5	1006
BOU-DD23-198	8675N	Para	271.3	273.4	1.85	16	2.1	0.0	1.5	0.3	8	255
BOU-DD23-198	8675N	Para	310.3	311.6	1.67	139	1.3	0.0	1.0	0.3	28	345
BOU-DD23-198	8675N	Main	323.3	326.0	1.50	58	2.7	0.0	0.2	0.2	29	216
BOU-DD23-198	8675N	Para	370.2	371.2	0.22	40	1.0	0.0	0.2	0.3	2	85
BOU-DD23-198	8675N	Para	374.4	375.4	0.45	20	1.0	0.0	0.1	0.1	5	72
BOU-DD23-198	8675N	Para	378.6	381.1	2.11	48	2.5	0.0	0.9	2.5	83	415
BOU-DD23-200	8175N	Para	135.5	136.3	1.87	25	0.8	0.0	0.1	0.2	4	214
BOU-DD23-200	8175N	Main	244.3	248.5	3.47	80	4.2	0.3	0.1	1.0	19	506
Including			244.3	246.3	5.37	124	2.0	0.5	0.1	0.6	18	736
BOU-DD23-200	8175N	Para	258.0	259.0	0.67	24	1.0	0.0	0.5	3.1	11	275
BOU-DD23-200	8175N	Para	295.2	295.7	0.63	55	0.5	0.0	0.3	4.1	53	349
BOU-DD23-201	8225N	Para	94.7	95.4	0.12	47	0.7	0.0	0.4	0.8	4	116
BOU-DD23-201	8225N	Para	209.1	210.0	0.49	28	0.9	0.0	1.4	1.5	5	201
BOU-DD23-201	8225N	Para	231.7	232.4	0.42	20	0.7	0.0	0.5	1.2	9	142
BOU-DD23-201	8225N	Para	242.4	246.6	2.59	39	4.2	0.1	0.2	0.7	9	341
Including			242.4	244.0	5.06	77	1.6	0.3	0.3	0.3	8	613
BOU-DD23-201	8225N	Main	315.0	316.0	0.30	32	1.0	0.1	0.8	4.7	19	357
BOU-DD23-202	8675N	Para	95.5	96.7	1.06	48	1.2	0.0	0.5	2.2	15	286
BOU-DD23-202	8675N	Para	104.9	105.4	1.59	110	0.5	0.0	3.0	7.9	5	786
BOU-DD23-202	8675N	Para	223.1	226.0	3.61	67	2.9	0.1	0.3	2.8	18	583
BOU-DD23-202	8675N	Para	227.8	229.2	0.58	11	1.4	0.0	0.1	0.3	19	85
BOU-DD23-202	8675N	Para	239.0	239.5	2.48	42	0.5	0.1	0.5	11.3	37	909
BOU-DD23-202	8675N	Para	242.6	243.2	0.72	24	0.6	0.0	0.6	2.3	21	238
BOU-DD23-202	8675N	Para	250.8	251.3	0.43	36	0.5	0.0	1.1	3.5	3	308
BOU-DD23-202	8675N	Para	266.6	267.4	0.22	35	0.8	0.0	2.8	2.4	15	277
BOU-DD23-202	8675N	Main	349.2	355.2	4.31	129	6.0	0.1	0.6	1.4	41	645
Including			352.3	354.0	10.11	339	1.7	0.3	1.2	2.8	54	1522
BOU-DD23-202	8675N	Para	418.8	422.2	1.56	39	3.4	0.0	0.5	0.7	2	240
BOU-DD23-203	8175N	Para	100.1	101.8	0.23	59	1.7	0.0	0.9	1.5	3	191
BOU-DD23-203	8175N	Para	207.4	207.9	0.46	91	0.5	0.1	1.9	4.3	6	435
BOU-DD23-203	8175N	Para	269.5	270.0	1.06	41	0.5	0.0	0.9	2.4	4	300
BOU-DD23-203	8175N	Para	280.7	281.7	0.32	20	1.0	0.0	0.4	0.5	9	92
BOU-DD23-203	8175N	Main	282.7	285.9	2.00	55	3.2	0.1	0.1	0.2	12	269
BOU-DD23-203	8175N	Para	289.5	290.6	0.42	12	1.1	0.0	0.3	1.2	10	124
BOU-DD23-203	8175N	Para	332.2	332.7	0.41	20	0.5	0.0	0.3	4.7	9	324
BOU-DD23-203	8175N	Para	373.2	374.3	0.03	89	1.1	0.2	0.8	1.2	7	201

*	True width remains undetermined at this stage; all values are uncut.
**	Ag equivalent is based on a 100% recovery with the following ratio; 1 g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 Ag; 1% Pb: 31.8 Ag; 1% Zn: 54.1 Ag.

Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)

DDH No.	Easting	Northing	Elevation	Azimuth	Dip	Length (m)
BOU-DD23-213	316 991	3 474 849	1 257	70	-50	600.0
BOU-DD23-214	317 026	3 477 177	1 216	250	-50	447.1
BOU-DD23-215	316 714	3 477 378	1 220	250	-50	330.1
BOU-DD23-216	317 077	3 474 268	1 258	70	-50	705.0
BOU-DD23-217	316 754	3 477 393	1 218	250	-50	363.8
BOU-DD23-218	317 101	3 477 207	1 208	250	-50	483.5
BOU-DD23-219	316 868	3 477 434	1 214	250	-50	465.4
BOU-DD23-220	317 079	3 474 775	1 274	70	-50	144.5
BOU-DD23-221	317 010	3 474 750	1 263	70	-50	369.0
BOU-DD23-222	316 483	3 477 496	1 222	250	-50	171.1
BOU-DD23-223	317 170	3 474 754	1 294	70	-50	299.4
BOU-DD23-224	317 234	3 474 537	1 283	70	-50	302.0
BOU-DD23-225	316 552	3 477 523	1 214	250	-50	206.0
BOU-DD23-226	316 626	3 477 547	1 211	250	-50	350.2
BOU-DD23-227	316 714	3 477 576	1 214	250	-50	356.1
BOU-DD23-228	317 161	3 474 514	1 273	70	-50	419.5
BOU-DD23-229	317 103	3 474 730	1 280	70	-50	332.3
BOU-DD23-230	317 046	3 474 763	1 270	70	-50	261.0
BOU-DD23-232	317 456	3 476 254	1 211	250	-50	532.1
BOU-DD23-233	317 067	3 474 717	1 274	70	-50	76.5
BOU-DD23-234	316 976	3 474 737	1 259	70	-50	501.0
BOU-DD23-235	317 036	3 474 706	1 266	70	-50	500.7
BOU-DD23-236	317 088	3 474 487	1 268	70	-50	606.2
BOU-DD23-237	317 378	3 476 226	1 209	250	-50	600.5
BOU-DD23-238	317 298	3 476 197	1 218	250	-50	510.0
BOU-DD23-239	316 937	3 474 723	1 258	70	-50	486.7
BOU-DD23-240	317 001	3 474 693	1 260	70	-50	466.4
BOU-DD23-242	317 227	3 476 171	1 228	250	-50	384.8
BOU-DD23-244	317 147	3 474 666	1 278	70	-50	236.6

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SOURCE Aya Gold & Silver Inc

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

Analyst Predict EMX Royalty has a lot of upside for shareholders

Post author By admin
Post date November 17, 2023

A respected analyst report has recently commented on the value proposition of EMX Royalty. The decision seems to have merit based on this week’s recent news announcement on the 3rd Quarter Results for 2023. A projected 12-month price point of C$5.75 was the target by the analyst. At the present EMX Royalty is trading at C$2.22. We highly regard EMX Royalty, we’ve been long-term shareholders since 2016/17. In our opinion EMX Royalty is a legacy company that you buy and pass along to your children. It’s the Goose that keeps laying the Golden Egg.

Highlights from Q3 2023 include the following:

EMX earned approximately $1,955,000 in royalty revenue from the Gediktepe Mine as production continued from the oxide gold deposit. Partner Lidya Madencilik Anayi ve Ticaret A.S. (“Lidya”) also notified EMX that it has completed an internal Feasibility Study for development of the underlying polymetallic sulfide deposit. A decision regarding financing and construction for the sulfide project is pending.
The Caserones (effective) royalty distribution for Q3 totaled approximately $1,741,000. Lundin Mining Corporation (“Lundin”), in connection with their acquisition of fifty-one percent (51%) of the issued and outstanding equity of SCM Minera Lumina Copper Chile SpA (see Lundin news release dated July 13, 2023), filed a technical report on SEDAR titled “NI 43-101 Technical Report on the Caserones Mining Operation, Atacama Region, Chile” that included current mineral resource and reserve estimates. Lundin also provided Caserones H1 production and H2 production guidance.
Leeville revenue earned by EMX totaled approximately $773,000 from royalty production that totaled 403 ounces of gold. Q3 2023 marked another strong quarter of Leeville royalty production along with robust gold prices.
EMX recognized $568,000 in royalty revenue from the Balya property in Q3 2023 which included $212,000 from Q2 production and $356,000 from Q3 production subsequently received. Production began to ramp up again in Q2 2023 with 99,185 tonnes of mineralized material produced from Balya North. Production continued to accelerate in Q3 2023, with 161,133 tonnes of mineralized material produced according to calculations provided by Esan at the end of Q3.
EMX received $134,000 from Gold Bar South for royalty revenue earned in Q1 2023 and Q2 2023, and earned royalty revenue of $59,000 from Q3 2023 production, which was subsequently received.
AbraSilver Resource Corp. (“AbraSilver”) reported final results from the Phase III drill program at the Diablillos silver-gold royalty property. Phase III drill holes will be incorporated into an updated mineral resource estimate to be included in the Diablillos PFS scheduled for completion in H2 of 2023. As part of its ongoing PFS work, AbraSilver also reported on positive results from metallurgical optimization test work conducted for the Oculto deposit.
Arizona Sonoran Copper continued to report infill drilling results from the Parks-Sayler porphyry copper royalty property. Subsequent to quarter-end, Arizona Sonoran announced updated mineral resource estimates for the Parks-Sayler deposit, which is partially covered by an EMX royalty, as well as other deposits that constitute its Cactus Project.
Exploration drilling by South32 at the Hermosa Project’s Peake prospect returned mineralized intercepts covered by EMX’s Hardshell royalty property that included the best copper intercept to date of 139 meters averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver (true width not reported).
EMX’s U.S. royalty generation portfolio progressed with 13 partner-funded work programs consisting of five drill programs, the expansion of properties through the staking of new claims, and the permitting of key projects in preparation for three additional drill programs to be conducted in Q4 2023 and early 2024. EMX has 39 projects in partnership in the western U.S and received various option, AAR, and management fee payments during the quarter.
Scout Discoveries Corp. (“Scout”) (a private Idaho company) and EMX closed on an amended transaction, originally announced in Q1 2023 (see EMX news release dated March 8, 2023) for the sale of EMX’s Erickson Ridge, South Orogrande, Lehman Butte, and Jackknife precious and base metal projects to Scout.
In Canada, EMX executed two new agreements to partner the Jean Lake property to Canada Nickel Company, and the Ear Falls property to Beyond Lithium. EMX and its partners conducted summer field programs to continue advancing the properties in the portfolio. EMX received $104,000 in cash payments during the quarter from partnered projects.
In Chile, Pampa Metals announced assay results from its initial three hole drill program totaling 1,957 meters at the Buena Vista target on the Block 4 property. Anomalous copper, molybdenum and precious metals were intercepted, indicative of shallow levels of a porphyry system. Elsewhere within the portfolio, EMX was notified by Pampa Metals that it was abandoning the Arrieros, Redondo-Veronica, Cerro Blanco, Cerro Buena Aries, and Block 3 properties, resulting in EMX gaining 100% control of each property. These properties are now available for partnership.
In Northern Europe the Company continued to develop and advance its portfolio of projects, with summer field programs continuing on numerous properties in Q3 2023. EMX has 37 projects in partnership with other companies in Northern Europe. New partnerships were established for the Bamble and Flåt battery metals projects in Norway (Londo Nickel plc) and the Njuggträskliden and Mjövattnet battery metals projects in Sweden (Kendrick Resources plc).
The Company optioned the Copperhole Creek project in Queensland, Australia to Lumira Energy LTD, a private Australian company. The agreement provides EMX with a 2.5% NSR royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with the transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) by mid-year 2024.
Also in Q3 2023 in Australia, partner companies executed drill programs comprising over 5,000 meters on three EMX royalty properties (Yarrol, Mt Steadman and Koonenberry) and field programs continued to advance the Queensland Gold and Copperhole Creek projects.
Royalty generation programs continued in the Balkans and in Morocco in Q3 2023, where multiple exploration license applications have been filed by the Company. Surface sampling programs commenced on several new exploration licenses awarded to EMX in Morocco targeting a variety of styles of mineralization. EMX also continued to assess projects and opportunities in the Balkans.

Investment Updates

As at September 30, 2023, the Company had marketable securities of $6,830,000 (December 31, 2022 – $9,966,000), and $5,313,000 (December 31, 2022 – $4,591,000) in private investments. The Company will continue to generate cash flow by selling certain of its investments when appropriate.

OUTLOOK

The 2023 year will continue to see revenue and other income coming from our cash flowing royalties, including Leeville and Gold Bar South in Nevada, Gediktepe and Balya in Turkey, and Timok in Serbia, and our effective royalty interest on Caserones in Chile. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global asset portfolio.

The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of our long-term debt, continuing to evaluate equity markets, and the ongoing monetization of the Company’s marketable securities.

EMX is well positioned to identify and pursue new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.

Marketing Consulting Services

The Company is also pleased to announce that it has entered into an agreement with LFG Equities Corp. (“LFG”), an independent contractor with a business address at 402-9140 Leslie St., Richmond Hill, ON, L4B 0A9. Commencing on September 10^th, 2023 for an initial term of six months, under the terms of the Agreement, LFG will provide marketing consulting services to the Company to communicate to the financial community information about EMX by way of newsletters and be paid US$50,000 plus applicable taxes.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.

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

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

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

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

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

¹Adjusted revenue and other income and adjusted cash provided by operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section on page 24 of the Q3-2023 MD&A for more information on each non-IFRS financial measure.

Be sure to perform your due diligence, we are biased.

Base Metals Energy

Higher Uranium Prices Allow Miners to Resume Production

Post author By admin
Post date November 16, 2023

Key Takeaways

Physical uranium gained ground in October, while uranium miners declined; most commodities suffered in October but uranium continued to show resilience to macroeconomic factors.
YTD, uranium is up 54.16%; senior and junior uranium miners have risen 44.85% and 32.77%, respectively.
Uranium demand has been primarily driven by increased utility contracting, which we believe provides strong support and sustainability to higher price level.
Looking ahead to 2040, utilities have 1.5 billion pounds of cumulative uncovered uranium requirements.
The nuclear fuel supply chain continues to move away from Russia.
The strength in the uranium price has improved the revenue and profit for producers and raised the prospects for further mine restarts and new builds.

Performance as of October 31, 2023

Asset	1 MO*	3 MO*	YTD*	1 YR	3 YR	5 YR
U3O8Uranium Spot Price ¹	1.51%	32.50%	54.16%	42.50%	35.72%	21.27%
Uranium Mining Equities (Northshore Global Uranium Mining Index) ²	-3.67%	32.89%	44.85%	37.11%	55.77%	43.73%
Uranium Junior Mining Equities (Nasdaq Sprott Junior Uranium Miners Index TR) ³	-4.47%	35.32%	32.77%	22.93%	57.83%	N/A
Broad Commodities (BCOM Index) ⁴	-0.21%	-2.54%	-7.26%	-7.71%	13.33%	4.69%
U.S. Equities (S&P 500 TR Index) ⁵	-2.10%	-8.25%	10.69%	10.14%	10.35%	11.00%

*Performance for periods under one year not annualized.
Sources: Bloomberg and Sprott Asset Management LP. Data as of October 31, 2023. You cannot invest directly in an index. Included for illustrative purposes only. Past performance is no guarantee of future results.

Uranium Hits $74, Standing Firm at 12-Year Price High

The U3O8 uranium spot price gained 1.51% in October, increasing from US$73.38 to $74.48 per pound as of October 31, 2023.¹ Uranium has posted a stellar 54.16% year-to-date return as of October 31, 2023, and continued to show strength and diversification relative to other commodities, which declined 7.26% (as measured by the BCOM Index).A higher uranium price is improving the prospects for further mine restarts and new builds.

While other commodities suffered in October largely due to China’s economic weakness, a persistently strong U.S. dollar (USD) and other macroeconomic factors, uranium continues to demonstrate its lower economic sensitivity. U3O8 contracting by utilities in 2023 is not largely dependent on general inflation, rising interest rates, etc. These characteristics may strengthen uranium investments’ uncorrelated performance relative to major asset classes, other commodities and enhance portfolio diversification.

Over the longer term, physical uranium and uranium equities have demonstrated significant outperformance against broad asset classes, particularly other commodities. For the five years ended October 31, 2023, the U3O8 spot price has risen a cumulative 162.28% compared to 25.76% for the broader commodities index (BCOM), as shown in Figure 1.

Figure 1. Physical Uranium and Uranium Stocks Have Outperformed Other Asset Classes Over the Past Five Years (10/31/2018-10/31/2023)

Source: Bloomberg and Sprott Asset Management. Data as of 10/31/2023. Uranium Miners are measured by the Northshore Global Uranium Mining Index (URNMX index); the S&P 500 TR Index measures U.S. Equities; the U308 Spot Price is from TradeTech; U.S. Bonds are measured by the Bloomberg Barclays US Aggregate Bond Index (LBUSTRUU); Commodities are measured by the Bloomberg Commodity Index (BCOM); and the U.S. Dollar is measured by DXY Curncy Index. Definitions of the indices are provided in the footnotes. You cannot invest directly in an index. Included for illustrative purposes only. Past performance is no guarantee of future results.

Uranium Supply: A Sellers’ Market

At the start of October, uranium had appreciated significantly by the end of September, posting its most impressive month since September 2021. The uranium spot price rose to its highest level before the Fukushima Daiichi power plant disaster in 2011, when it was $73 per pound. October saw yet another high, despite intra-month volatility, with the spot price reaching $74.48.

We believe the U3O8 spot price is well supported in holding to higher price levels not seen in over a decade. The World Nuclear Association’s (WNA) biennial Nuclear Fuel Report noted that world nuclear reactor requirements are forecasted to nearly double by 2040, from 171 to 338 MM U3O8e pounds per annum. Understanding of a future demand-supply imbalance is gaining acceptance and is fueling improved sentiment toward uranium.World nuclear reactor requirements are forecasted to nearly double by 2040.

Uranium demand has been primarily driven by increased utility contracting, which we believe provides strong support and sustainability to higher price levels. These end-user utilities have acquiesced to paying higher uranium prices, which has more impact on pricing than outside financial entities.

Utilities and uranium producers generally contract in the term market, representing uranium sold under long-term, multi-year contracts with deliveries starting a year or more after the agreement is made. These term contracts do not generally only have a fixed price associated with the purchase/sale of uranium. The price for the amount bought/sold may include a fixed price, but more recently, they have a variable price with reference to the market price at the time of delivery. These market reference prices generally have floors and caps that are set at the beginning of the contract. Also, the term contracts may vary in quantities, and utilities have had the option to flex the amount they receive either up or down. Industry media have been reporting the evolution of contracting terms, which includes a reduced number of contracts with flexible quantities, increases in the use of market reference pricing versus fixed pricing, and increases in the prices set at the floors and caps. We believe these contract changes between utilities and uranium producers highlight that we are in a sellers’ market and bolster the case for uranium and uranium miners. Furthermore, it is important to note that nuclear power plants require very large capital investments and that fuel costs related to U3O8 are just 4-8% of their ongoing costs.⁶ Overall, demand for uranium is inelastic, which means that higher prices are not likely to curtail demand.

Contracts on Pace to Reach Replacement Rate

Thus far in 2023, U3O8 term contracting has already surpassed 2022’s full-year contracting level. 2022 had the highest amount of term contracting in a decade, at 125 MM pounds. 2023’s full-year contracting is on track to be the first year in over a decade to reach the annual replacement rate. Term contracting had been below the replacement rate for the past decade as excess global uranium inventories were drawn down. The era of uranium inventory destocking is behind us as utilities are increasingly focused on the security of supply.

Looking ahead to 2040, utilities have 1.5 billion pounds of cumulative uncovered uranium requirements. As a result, we believe we are still in the early innings of the contracting cycle. Geopolitical risks related to the nuclear fuel supply chain remain heightened. French President Macron’s recent visits to Kazakhstan, Uzbekistan and Mongolia in search of uranium partnerships and investments is a prime example of the strategic importance of securing uranium supplies.

Moving Away from Russian Supply Chains

The nuclear fuel supply chain continues to move away from Russia. Orano SA announced that it will spend $1.8 billion to expand its uranium enrichment plant in France by over 30%.⁷ Russia accounts for 39% of the global capacity to enrich uranium. Although no sanctions have been levied against Russian services to date, utilities are self-sanctioning by not signing any new contracts with Russian entities. In the U.S., the White House also sent Congress an enrichment request for $2.2 billion in October.⁸ We believe that forthcoming additional capacity in enrichment (and conversion via ConverDyn) coupled with an industry shift in enrichment from underfeeding to overfeeding may allow utilities to focus more on contracting for future uncovered reactors’ uranium requirements.

Uranium Miners Developments

While the price of physical uranium held firm in October, uranium miners retreated. The broad sector of uranium miners fell by 3.67%,²while junior uranium miners lost 4.47% on profit taking following several months of outsized gains.³Nonetheless, the strength in the uranium price has improved the revenue and profit for producers and raised the prospects for further mine restarts and new builds. To this end, there were a couple of positive developments in October.

enCore Energy Corp. (enCore) announced that it had received approval to renew the Radioactive Materials License for its processing plants.⁹ enCore reaffirmed its plan to resume uranium production at its Rosita plant before the end of November 2023. enCore also plans to restart its Alta Mesa plant in early 2024. These restarts are located in Texas and should help kickstart the revival of U.S. domestic uranium production (see Figure 2). Especially since the U.S.’s domestic uranium production in the first half of 2023 was merely 10,000 pounds of U3O8, relative to annual requirements of approximately 50 million pounds.

Australian uranium miner Boss Energy Ltd. announced its commencement of mining operations at its Honeymoon project¹⁰, which has the capacity to produce 2.45 million pounds of U3O8 per year. The project began production in 2011 but was placed on care and maintenance in 2013. This project remains on time and budget for production starting in Q4 2023.

Figure 2. Sources of Uranium for US Nuclear Power Plants 1950 to 2022

Source: EIA. U.S. Energy Information Administration: Monthly Energy Review, Table 8.2, June 2023 Note: data withheld for U.S. power plant purchases from domestic suppliers in 2019 and for domestic production in 2020 to avoid disclosure of individual company data. Included for illustrative purposes only. Past performance is no guarantee of future results.

Regarding new uranium mines, Global Atomic Corporation announced that it finalized its third Letter of Intent (LOI) for the sale of uranium from its Dasa project in Niger. This brings the total contracted volume to 1.5 million pounds of U3O8 per annum over the project’s first five years of operations. This may be seen as a vote of confidence in the company given that just a few months ago, the coup d’état in Niger forced Global Atomic to announce delays of 6-12 months in the first production at Dasa to early 2026.¹¹

With global uranium mine production well short of the world’s uranium reactor requirements, the supply deficit building over the next decade, a decade of underinvestment in supply, and future supply inhibited by long lead times and capital intensity, we believe that restarts and new mines in development are of critical importance. The uranium price target as an incentive level for further restarts and greenfield development is a moving target, and we believe that we will need higher uranium prices to incentivize enough production to meet forecasted deficits. Over the long term, increased demand in the face of an uncertain uranium supply is likely to continue to support a sustained bull market (Figure 3).

Figure 3. Uranium Bull Market Continues (1968-2023)

Please click here to see an enlarged chart.

Note: A “bull market” refers to a condition of financial markets where prices are generally rising. A “bear market” refers to a condition of financial markets where prices are generally falling. Source: TradeTech Data as of 10/31/2023. TradeTech is the leading independent provider of uranium prices and nuclear fuel market information. The uranium prices in this chart dating back to 1968 is sourced exclusively from TradeTech; visit https://www.uranium.info/. Included for illustrative purposes only. Past performance is no guarantee of future results.

1	The U3O8 uranium spot price is measured by a proprietary composite of U3O8 spot prices from UxC, S&P Platts and Numerco. For periods before July 2021 data is from TradeTech LLC.
2	The North Shore Global Uranium Mining Index (URNMX) was created by North Shore Indices, Inc. (the “Index Provider”). The Index Provider developed the methodology for determining the securities to be included in the Index and is responsible for the ongoing maintenance of the Index. The Index is calculated by Indxx, LLC, which is not affiliated with the North Shore Global Uranium Miners Fund (“Existing Fund”), ALPS Advisors, Inc. (the “Sub-Adviser”) or Sprott Asset Management LP (the “Adviser”).
3	The Nasdaq Sprott Junior Uranium Miners™ Index (NSURNJ™) was co-developed by Nasdaq® (the “Index Provider”) and Sprott Asset Management LP (the “Adviser”). The Index Provider and Adviser co-developed the methodology for determining the securities to be included in the Index and the Index Provider is responsible for the ongoing maintenance of the Index. The Adviser will provide certain services in connection with the Index including contributing inputs in connection with the eligibility and proce
4	The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index that tracks prices of futures contracts on physical commodities and is designed to minimize concentration in any one commodity or sector. It currently has 23 commodity futures in six sectors.
5	The S&P 500 or Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies.
6	Source: Ocean Wall, The Case for Uranium, April 2023.
7	Source: Bloomberg, 10/20/23. France Plans $1.8 Billion Uranium Plant Expansion to Cut Reliance on Russia.
8	Source: Nuclear Newswire, 10/26/23. White House backs HALEU enrichment with a request for $2.2 billion
9	Source: Newswire, 11/06/23. enCore Energy Announces License Renewal for the South Texas ISR Uranium Central Processing Plants (CPP).
10	Source: ASX Release, 10/11/23. Boss achieves significant milestone with commencement of mining operations on Honeymoon.
11	Source: Bloomber, 9/08/23. Orano Halts Uranium Treatment in Niger Because of Sanctions on Junta.

Jacob White, CFA
ETF Product Manager, Sprott Asset Management LP
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Sprott Physical Uranium Trust (TSX: U.UN)

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Past performance is no guarantee of future results. You cannot invest directly in an index. Investments, commentary and statements are that of the author and may not be reflective of investments and commentary in other strategies managed by Sprott Asset Management USA, Inc., Sprott Asset Management LP, Sprott Inc., or any other Sprott entity or affiliate. Opinions expressed in this commentary are those of the author and may vary widely from opinions of other Sprott affiliated Portfolio Managers or investment professionals.

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Higher Uranium Prices Allow Miners to Resume Production

Key Takeaways

Uranium Hits $74, Standing Firm at 12-Year Price High

Uranium Supply: A Sellers’ Market

Contracts on Pace to Reach Replacement Rate

Moving Away from Russian Supply Chains

Uranium Miners Developments

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