Vancouver, British Columbia –News Direct– West Red Lake Gold Mines Ltd.
September 7, 2023 – TheNewswire – Global Stocks News – On September 6, 2023 West Red Lake Gold Mines (TSXV:WRLG) (OTC:WRLGF) CEO Shane Williams sent part one of seven communications to WRLG shareholders.
Williams has designed, built and operated mines around the world – for Skeena Resources, Eldorado Gold and Rio Tinto.
CEO Message Part 1: An Introduction to West Red Lake Gold Mines and its properties.
By Shane Williams – CEO of West Red Lake Gold Mines
Thank you for your interest in West Red Lake Gold Mines.
I know that you are busy and bandwidth is squeezed, so let’s cut to the chase.
Our flagship Ontario asset – The Madsen Gold Mine – is debt free, fully permitted, and has a brand new 800+ tonne per day mill, a tailings and water treatment facility.
The “lower-grade” near surface zone is about 3.5 grams/tonne gold, the higher-grade zone at 500 meters averages 9 grams/tonne gold.
At its peak, the asset was valued at over a billion dollars, 10X our current market cap. There is smart money heavily invested in the current project – Frank Guistra (10%); Sprott Resource (24%).
The previous operator was under-capitalised. Debt repayment obligations forced the company into a quick-to-cash-flow mine model that was ultimately expensive and inefficient.
I have designed, built and operated mines (open pit and underground) in Greece, Turkey and Canada – for Skeena Resources, Eldorado Gold and Rio Tinto. Under Frank Guistra’s guidance, my team conducted three months intense due-diligence on this project. It is clear to me and our technical team, the problems with this mine had to do with management strategies, not the asset itself.
Geologically, metallurgically, politically and environmentally we are not aware of any big negatives with this mine.
We purchased this asset for pennies on the dollar when nobody cared about gold. Investors are starting to care now. With global debt levels reaching $305 trillion, we anticipate the gold price reaching new highs.
The Red Lake District is one of the most prolific gold districts on the planet with over 30 million ounces produced. Our 47 Km2 land package is 13 X bigger than NYC’s Central Park.
Next week in Part 2 of my message to shareholders, I will explain how the previous operators got it wrong, and how we are getting it right.
Sincerely,
Shane Williams
We invite you to click on this button to learn more about West Red Lake Gold Mines.
On September 6, 2023 WRLG announced the beginning of surface drilling at the Wedge target, located about two kilometres southwest from its 100% owned Madsen Mine in the prolific Red Lake Gold District of Northwestern Ontario, Canada.
“The drilling program will consist of up to 3,000 metres with the goal of growing and upgrading the existing mineral resources at Wedge,” stated WRLG. “Which currently contain an Indicated mineral resource of 56,100 ounces grading 5.6 grams per tonne gold, with an additional Inferred resource of 78,700 oz grading 5.7 g/t gold.
HIGHLIGHTS:
Surface exploration drilling to commence at the Wedge target – located 2 km southwest from the Madsen Mine
Drilling will be focused on extending high-grade zones at Wedge and increasing confidence in the overall mineral resource
Wedge currently hosts an Indicated resource of 56,100 oz of gold grading 5.6 g/t Au1 and an Inferred resource of 78,700 oz of gold grading 5.7 g/t Au1
The Wedge resource sits adjacent to the past-producing Starratt-Olsen Mine which historically processed 823,554 tonnes grading 6.16 g/t Au for approximately 163,000 oz of gold[2]
Previous drilling highlights from the Wedge target include:
Hole PG17-486 Intersected 10.33 m @ 24.94 g/t Au, from 16.67 m to 27 m
Hole PG17-467 Intersected 16.6 m @ 17.49 g/t Au, from 11.45 m to 28 m
Hole PG17-482 Intersected 14.4 m @ 8.35 g/t Au, from 28 m to 42.4 m
Hole PG19-643 Intersected 1 m @ 108.5 g/t Au, from 103 m to 104 m
“Our team is very excited to be back drilling near the Madsen Mine asset,” stated Williams. “We view Wedge as a key component in our overall vision of staying committed to exploration and unlocking the full potential of all our high-grade assets in the Red Lake Mining District.”
“With Wedge being located just 2 km away from the existing mill facilities at Madsen,” continued Williams. “On fully patented claims and directly adjacent to the past-producing Starratt-Olsen mine, we can see a clear path forward for permitting at Wedge and view it as a high-caliber candidate for a future mill-feed source at Madsen.”
West Red Lake Gold has sold off heavily this week during a “pan-sell-off” that included bonds, metals, oil and crypto.
“A strong U.S. dollar and elevated U.S. Treasury yields are bearish outside market elements working against the precious metal [gold],” reported Kitco.com on September 6, 2023.
GSN is not aware of any negative material change to the company’s operations or its ability to build a profitable gold mine.
VANCOUVER, BC / ACCESSWIRE / September 7, 2023 / Rover Metals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce that further to its release of August 1, 2023, management of the Company, including Mr. James Ingraffia, have completed a successful field visit and surface sampling program at the Let’s Go Lithium (“LGL”) project, NV, USA.
Summer 2023 Work Program Management, including Mr. Ingraffia, spent a week in the field this summer at the LGL program. The purpose of the field visit was to orient Mr. Ingraffia with the project as well as confirm previously reported high-grade lithium surface samples at the project, with the goal of starting work on a geological map of the clay body at LGL. Mr. Ingraffia will work with Rover’s CEO, in the coming weeks and months, on a Plan of Operations For Exploration and any necessary environmental assessment that may be required under the U.S. National Environmental Policy Act (“NEPA”).
James Ingraffia James is a senior lithium geologist specializing in Nevada. Mr. Ingraffia is the founder of Lithium Arrow LLC. He has seven years of experience in lithium economic geology, and is a highly trained specialist in lithium claystone and experienced in lithium brines and pegmatites. He got his start with the United States Geological Survey in lithium brine and claystone geochemistry, in partnership with Pure Energy Minerals before its purchase by Schlumberger. He then characterized the Thacker Pass lithium claystone deposit, from the atomic to kilometer scale, and published the results in partnership with Lithium Americas Corporation and the Nevada Bureau of Mines and Geology. He holds a Master’s Degree of Geology, with training in Business Administration, from the University of Nevada Reno and a Bachelor’s of Geology from California State University Northridge. Mr. Ingraffia is based in Reno, NV.
Surface Sampling Results The results of Mr. Ingraffia’s surface sampling work is provided in the below table. Lithium grades have been analyzed using a SkiAps 903 Handheld Laser Induced Breakdown Spectroscopy (“HH LIBS”):
Sample ID
Method
Grade (ppm Li)
348222 averaged
HH LIBS
850.35
348421
HH LIBS
680.1
348420 averaged
HH LIBS
1,032.75
348419
HH LIBS
371.9
348418
HH LIBS
606.9
348417
HH LIBS
436.6
348416
HH LIBS
631.4
348415
HH LIBS
253.4
348414
HH LIBS
417.3
A SkiAps LIBs 903 analyzer was used to assay these samples. The QA/QC protocols for the LIBs are as follows: (a) it was calibrated for Claystones; (b) it was tested on a known Claystones lithium sample prior to fieldwork; and (c) the field samples were shot in a controlled environment, inside, with proper cleansing of the lens, and sample separation. The highest grades were shot several times to try to eliminate any nugget affect; (d) fine ground particulates were not tested, so no pucking was necessary.
Picture of Sample 348420
An initial geological map of the LGL project, including all new and historic surface samples reporting higher then 400 ppm Li (including historic laboratory assays and historical HH LIBS work) can be accessed at the following link:
Technical information has been approved by David White, P.Geo., QP for the purposes of NI 43-101.
Judson Culter, CEO at Rover Metals, states “the results of the summer 2023 work program reinforces managements’ working model of the LGL project. We believe the project to be an at, or very near to surface clay deposit, with open pit mine potential. Although claystone lithium deposits typically have higher grades at depth, we’re getting high grades of lithium near to surface at LGL. Lhoist North America has been open pit mining specialty clays in the area since the 1970s. Management believes that mining exploration and mining activities can co-exist along side the national parks in the vast rural area of the Amargosa Valley of Nevada. Management has been working through the summer to short-list preferred environmental consulting firms, and we hope to finalize the consultant for our NEPA process within the next few weeks.”
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.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
The excavated terrain of the Veliki Krivelj open pit copper mine, operated by Zijin Mining Group Co., in the Bor Region, Serbia. Photographer: Oliver Bunic/Bloomberg , Bloomberg
(Bloomberg) — China’s Zijin Mining Group Co. is developing plans to expand its copper mine in eastern Serbia due to demand for the metal considered vital to the global energy transition — an effort that could cost billions of dollars.
The company opened the Cukaru Peki copper and gold mine almost two years ago, with a $678 million investment allowing it to reach reserves a few hundred meters deep. Now it wants to drill down almost 2 kilometers (1.25 miles) to make the most of assets acquired in a takeover spree.
“These are vast reserves, which require additional infrastructure, additional investment of around $3.5 billion to $3.8 billion,” said Branko Rakocevic, the top Serbian official at the mine, whom the Chinese company authorized to speak with reporters.
Across the globe, companies and governments are racing to produce materials considered key to the shift toward a greener economy. Copper in particular is used in wind turbines, power grids and electric vehicles. China is the world’s top-supplier of so-called critical minerals, but the European Union and US are seeking to boost domestic supplies to ensure that they don’t fall further behind in the transition.
Read more: Why the Fight for ‘Critical Minerals’ Is Heating Up: QuickTake
Serbia, a candidate for EU membership, has embraced foreign investors including China as it looks to revitalize an ailing sector of its economy. Australia-based BHP Group, the world’s biggest mining company, is also looking more closely, signing an agreement earlier this year to explore for new copper deposits in the country.
Cukaru Peki is located in the town of Bor, where copper, gold and silver have been mined for over a century. The mine’s lower zone, at depths of more than 460 meters (1,508 feet), is believed to hold 2.2 million tons of copper, more than in the upper zone. Its gold content is thought to be lower at the deeper depths.
The upper zone may be exhausted of its deposits around 2034, while deeper operations could start in 7 to 10 years, according to Rakocevic. Zijin’s long-term plans for the site include building roads, and expanding power supply and flotation facilities, he said.
Zijin’s Expansion
Zijin bought Serbia’s sole copper and gold complex in 2018, when the government auctioned off the debt-laden business in an effort to save thousands of jobs in an impoverished mining region. Following a string of takeovers, the Chinese company developed full control of what is now Cukaru Peki.
The acquisition — and further investments to expand mines in Congo and Tibet — are helping to transform Zijin into one of the world’s largest copper miners, leapfrogging western producers like Rio Tinto, Anglo American and Antofagasta. By 2025, it expects to produce about 1.2 million tons of copper, a six-fold increase over levels seen in 2017.
Zijin now runs two units in Serbia. One produces copper cathodes, gold, silver and sulfuric acid at facilities co-owned with the government. The other, Serbia Zijin Mining — which operates the Cukaru Peki mine — exports copper concentrate to China, Canada, Bulgaria, Spain and Korea.
The companies have been among Serbia’s top exporters for the last two years, riding a wave of demand for metals. Benchmark copper futures soared earlier this year, though prices have cooled in recent months, largely over concerns about the health of China’s economy.
“Still, copper is in demand always and everywhere” which justifies the long-term investment, Rakocevic said. “The market is stable enough. Prices declined from last year, but we don’t expect much volatility.”
Vancouver, British Columbia–(Newsfile Corp. – September 6, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or the “Company“) is pleased to announce the staking of an additional one hundred and forty-one (“141”) Bureau of Land Management (“BLM“) lode claims (2,913 acres) at the Big Blue project (“Big Blue” or “Project”) in Elko County, Nevada. Big Blue now comprises 502 contiguous lode claims totaling 10,168 acres or 41 square kilometers (“km”) (Figure 1), and is 100% owned by the Company with no underlying work commitments or royalty obligations. The property includes the past producing Delker Mine and Skarn Hill Adit, which collectively produced a reported 94,434 pounds of copper (“Cu”) at an average grade of 6.2% Cu between 1916-19171 (Figure 1). The Project has not seen a sustained exploration effort in decades and exhibits excellent potential to make new porphyry copper and Carbonate Replacement (“CRD”) style polymetallic discoveries.
The property expansion followed the Company’s recently announced acquisition of an extensive historical database for Big Bluesee (August 24, 2023 press release HERE), which has highlighted additional geophysical targets located to the northwest of the original claim block. This kilometer-scale target exhibits overlapping gravity and magnetic geophysics anomalies and is interpreted as a potential porphyry signature that may be the deeper source to the known Cu-skarn mineralization outcropping at the historical Delker Mine (Figure 2). As a result, Ridgeline staked all open and locatable claims surrounding the porphyry target and will continue advancing Big Blue towards a maiden drill program in 2024.
Chad Peters, President & CEO, commented, “Big Blue continues to be a rapidly evolving project in our exploration pipeline. Our team is very encouraged by the scale of the geophysical anomaly’s located on our new claim block, which suggests potential for a blind porphyry copper target at depth and distal CRD targets along strike. Until now, the Delker area has never been explored as a consolidated porphyry district and with this expansion we now control a target-rich land position with a robust geologic dataset to support our exploration model. We will continue to advance low-cost targeting and permitting initiatives through the remainder of this year while we prepare for a maiden drill campaign in 2024.”
Big Blue Project
Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers (“km”) southeast of the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported 94,434 pounds of copper at an average grade of 6.2% Cu between 1916-19171 and shares its southern boundary with Reyna Silver’s Medicine Springs Ag-Pb-Zn Carbonate Replacement (“CRD”) project. Mineralization occurs as outcropping, high-grade Cu occurrences located proximal to northeast trending felsic dikes that are interpreted as the zoned manifestations off a potential porphyry source, located in the northwest corner of the Big Blue property. Importantly, this target has never been drill-tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, with potential to discover polymetallic, carbonate replacement deposit (CRD) style mineralization as the system zones outward over 6 kilometers of strike towards the Medicine Springs project. This target model is analogous to the Butte Valley porphyry Cu-Au system, which is inferred to be the source of CRD mineralization at the Company’s nearby Selena project. Big Blue is 100% owned by the Company and is comprised of a total of 41 square kilometers of highly prospective exploration ground that has seen limited exploration since the early 1900’s and will benefit from Ridgeline’s systematic approach to discovery (view Ridgeline’s Corporate Deck HERE).
Figure 1: Plan view map showing the location of the 141 new claims (shaded blue) staked by Ridgeline to increase claims by ~33% to 502 contiguous lode claims.
Figure 2: Plan view map on the left showing reduced to pole (“RTP”) airborne magnetics highlighting kilometer scale magnetic “highs” at both the Delker Mineand to the northwest on Ridgeline’s new claims. The map on the right shows Residual Gravity with a coincident high over proposed porphyry centers. Gravity also highlights a lower amplitude anomaly interpreted as a northeast trending structural corridor that trends southwest to the historical Golden Pipe mine (Ag-Pb-Zn) owned by Reyna Silver.
To view X-Section A-A’ showing magnetics anomaly beneath the Delker Mine, click HERE.
To view plan view maps showing Total Horizontal Gradient Magnetics and Residual gravity, click HERE.
QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. 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 is a discovery focused gold-silver explorer with a proven management team and a 204km² 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 Ridgeline Minerals Corp. (775) 304-9773 | info@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.
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.
Sources
1Delker Mine Historic Production (Page 57): Smith, R.M., 1976, Mineral resources of Elko County, Nevada: U.S. Geological Survey Open-File Report 76-56, 201 p.
FIGURE 1. Plan view map showing location of Wedge deposit relative to the Madsen Mine.
2022 SRK Block Model
FIGURE 2. Oblique view of Wedge resource showing 2022 SRK Block Model and location of previous drilling highlights noted in this press release.1
West Red Lake Gold Mines Property Location Map
West Red Lake Gold Mines Property Location Map
VANCOUVER, British Columbia, Sept. 06, 2023 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV:WRLG)(OTCQB: WRLGF) is pleased to announce the commencement of surface drilling at the Wedge target, located approximately 2 kilometres (“km”) southwest from its 100% owned Madsen Mine in the prolific Red Lake Gold District of Northwestern Ontario, Canada. The drilling program will consist of up to 3,000 metres (“m”) with the goal of growing and upgrading the existing mineral resources at Wedge, which currently contain an Indicated mineral resource of 56,100 ounces (“oz”) grading 5.6 grams per tonne (“g/t”) gold (“Au”), with an additional Inferred resource of 78,700 oz grading 5.7 g/t Au1.
HIGHLIGHTS:
Surface exploration drilling to commence at the Wedge target – located 2 km southwest from the Madsen Mine
Drilling will be focused on extending high-grade zones at Wedge and increasing confidence in the overall mineral resource
Wedge currently hosts an Indicated resource of 56,100 oz of gold grading 5.6 g/t Au1 and an Inferred resource of 78,700 oz of gold grading 5.7 g/t Au1
The Wedge resource sits adjacent to the past-producing Starratt-Olsen Mine which historically processed 823,554 tonnes grading 6.16 g/t Au for approximately 163,000 oz of gold2
Previous drilling highlights from the Wedge target include:
Hole PG17-486 Intersected 10.33 m @ 24.94 g/t Au, from 16.67 m to 27 m
Hole PG17-467 Intersected 16.6 m @ 17.49 g/t Au, from 11.45 m to 28 m
Hole PG17-482 Intersected 14.4 m @ 8.35 g/t Au, from 28 m to 42.4 m
Hole PG19-643 Intersected 1 m @ 108.5 g/t Au, from 103 m to 104 m
Shane Williams, President & CEO, stated, “Our team is very excited to be back drilling near the Madsen Mine asset. We view Wedge as a key component in our overall vision of staying committed to exploration and unlocking the full potential of all our high-grade assets in the Red Lake Mining District. With Wedge being located just 2 km away from the existing mill facilities at Madsen, on fully patented claims and directly adjacent to the past-producing Starratt-Olsen mine, we can see a clear path forward for permitting at Wedge and view it as a high-caliber candidate for a future mill-feed source at Madsen.”
2023-09-06-Figure 1
FIGURE 1. Plan view map showing location of Wedge deposit relative to the Madsen Mine.
2023-09-06-Figure 2
FIGURE 2. Oblique view of Wedge resource showing 2022 SRK Block Model and location of previous drilling highlights noted in this press release.1
DISCUSSION
The Wedge deposit comprises four resource zones (DV, CK, MJ and OL) and one mineralized zone (86) that remains at the exploration target stage. All five zones generally correspond with historical surface showings and mineralized areas (Branson, 2019a).
The DV and CK Zones lie within the same structure that hosts the Fork Main Zone, but about 900 m along strike to the southwest. The intervening area is prospective for potential resource expansion and this area includes the 86 Zone exploration target. The 86 Zone was explored in 1998 by mechanical stripping and recent mapping of these outcrops (Cooley and Leatherman, 2015) suggests that 86 Zone may represent the southern extension of the Fork deposit as the host rocks are continuous and the style of mineralization is similar. At 86 Zone, rock sampling by previous workers of outcropping iron formation characterized by banded magnetite, pyrrhotite and amphibole has returned highly anomalous gold values. Drilling directly underneath this surface mineralization in 2017 returned multiple intercepts exceeding 5 g/t Au (up to 22.9 g/t Au over 1.1 m). Gold is hosted in quartz veins spatially associated with both iron formation and altered basalt.
In detail, the DV and CK Zones comprise a series of up to three concordant resource shapes across a collective width of 70 m and a maximum strike length of 700 m. At the DV Zone, gold is hosted within discontinuous quartz ± chlorite-amphibole veins (VBGQ veins) with biotite-amphibole-diopside selvedges and minor pyrite, pyrrhotite, chalcopyrite and arsenopyrite (Branson, 2019b). These veins are hosted in weakly altered mafic volcanic rocks or more commonly within moderately to strongly altered mafic volcanic rock (BSLA or SAFZ). At the CK Zone, the geology and mineralization are comparable to the DV Zone, though the host basalt rocks have been cut by quartz porphyry. A key relationship is that the veins and the enveloping alteration zones are transected by and transposed into the main S2 foliation of the host rocks – an identical relationship to the Madsen deposit.
The OL Zone exploration target lies about 450 m southwest along strike from the edge of the CK Zone resource shape in an area characterized by deformed gold-bearing quartz veins hosted in zones of deformed quartz porphyry (QZPY) and strongly altered foliated zones (SAFZ). Outcrop stripping, surface rock sampling and diamond drilling by previous workers have delineated two parallel trends of alteration and veining separated by approximately 25 m and extending for a strike length of 200 m. The zone is open both along strike and at depth.
The MJ Zone is hosted by two concordant shear zones up to 40 m in width characterized by deformed gold-bearing quartz veins hosted within altered and deformed basalt and peridotite within the Russet Lake Ultramafic. Current drilling has delineated these shear zones over 500 m of strike length and to 320 m depth with the structure remaining open along strike and down-dip.
In addition to being a part of the recognized property-wide structural architecture associated with gold mineralization responsible for mineralization at Madsen, Fork and Russet, the Wedge deposit exhibits similar high-level characteristics to the Madsen deposit (same alteration and structural timing), however gold tends to be more often hosted in discrete quartz veins rather than disseminated within intervals of pervasively silicified rock, as is more common in the Madsen deposit.
The apparent plunge of mineralization along these structures – best demonstrated at the well-tested DV Zone – appears to be associated with the intersection of the structures and major rheological and geochemical contrasts between relatively rigid and massive basalt and adjoining IRFM and ultramafic units (Branson, 2019b). This architecture is comparable to the plunge at the Austin and South Austin zones in the Madsen deposit which are defined by intersection of the mineralized zones and mafic/ultramafic contacts.
MARKETING AGREEMENT
The Company has entered into an agreement with OGIB Corporate Bulletin Ltd. (“OGIB”) dated August 23, 2023 (the “OGIB Agreement”), whereby OGIB has agreed to provide marketing services to the Company, including the publication of a series of online articles about the Company. The term of the OGIB Agreement is 6 months, commencing on September 1, 2023.
The Company paid OGIB a cash fee of CAD $125,000 upon entry into the OGIB Agreement. OGIB is a subscription service based out of Victoria, British Columbia which provides research on public companies and is wholly-owned by Keith Schaefer. OGIB and Keith Schaefer are arm’s length from the Company and hold directly, or indirectly 171,429 common shares of the Company.
QUALITY ASSURANCE/QUALITY CONTROL
West Red Lake Gold’s Wedge target presently hosts a National Instrument 43-101 (“NI 43-101”) Indicated Mineral Resource of 56,100 oz grading 5.6 g/t Au and an Inferred Mineral Resource of 78,700 oz grading 5.7 g/t Au. Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc. and dated June 16, 2023. A full copy of the SRK report is available on the Company’s website and on SEDAR.
The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
ABOUT WEST RED LAKE GOLD MINES
West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.
2023-09-06-WRLG NR-Rowan Project location Map
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams President & Chief Executive Officer
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.
Certain statements contained in this news release constitute “forward-looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
___________________________________ 1 Mineral resources are estimated at a cut-off grade of 3.38 g/t Au and a gold price of US$1,800/oz. Please refer to the technical report entitled “Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada”, prepared by SRK Consulting (Canada) Inc. and dated June 16, 2023. A full copy of the SRK report is available on the Company’s website and on SEDAR. 2 http://www.geologyontario.mndm.gov.on.ca/mndmfiles/mdi/data/records/MDI52K13NW00011.html
Photos accompanying this announcement are available at
Vancouver, British Columbia–(Newsfile Corp. – September 5, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an amended and restated royalty agreement on September 1, 2023 for its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin have agreed that the Timok royalty will consist of a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced. The royalty covers Zijin’s Brestovac exploration permit area (including the Cukaru Peki Mining licenses), as well as portions of Zijin’s Jasikovo-Durlan Potak exploration license north of the currently active Bor Mine (Figure 1).
EMX’s Timok royalty property is located in the Bor Mining District of Serbia and covers the Cukaru Peki copper-gold deposits which have recently been put into production by Zijin. Cukaru Peki represents one of the premier copper and gold discoveries in the world in the past 10 years and is a top tier royalty asset for EMX. The Cukaru Peki deposits consist of a high-level body of high-grade, epithermal-style copper-gold mineralization referred to as the “Upper Zone”, and a deeper body of porphyry-style copper-gold mineralization known as the “Lower Zone”.
Zijin is currently producing copper and gold from the Upper Zone deposit at Cukaru Peki, while concurrently developing the Lower Zone. The Cukaru Peki deposits and operations are summarized in Zijin’s annual reports and in various Zijin disclosures. An NI-43-101 technical report for the Timok royalty was filed by EMX on SEDAR on March 31, 2022.
As part of the execution of the revised royalty agreement, EMX will receive approximately US$6.68 million. This includes royalty payments of $1.59 million from July-December, 2021, royalty payments of $3.20 million from the calendar year 2022, and $1.89 million for the period of January-June, 2023. From that point forward EMX will continue to receive quarterly production royalty payments on an ongoing basis. EMX is appreciative of Zijin’s cooperative and amicable approach throughout the process of achieving this resolution and looks forward to working with Zijin as the projects advance.
Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, 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 Chief Executive Officer Phone: (303) 973-8585 Dave@emxroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@emxroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2023 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
Figure 1. Locations of EMX royalty interests and key geological features in the Timok Magmatic Complex in the Bor Mining District of Serbia.
Vancouver, British Columbia, Sept. 05, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the discovery of a new mineralized structure over 600 m northwest from the 2022 discovery made at the Cumavici Ridge epithermal vein target within its principal Viogor-Zanik project in eastern Bosnia and Herzegovina.
Highlights
Shallow, polymetallic mineralization has been intersected over 600 m northwest of the 2022 high grade, silver discovery at Cumavici Ridge through drill testing of a new parallel structure (Figure 1);
All 5 drill holes hit the target structure, with drill holes CMV23007, CMV23009 and CMV23010 macroscopically displaying polymetallic mineralization (Figure 2);
Step out structure is continuous for193 mnorthwest-southeast andopen along strike and down-dip;
Geochemical assay results from the Phase II drilling at the Cumavici polymetallic prospect are pending laboratory release and will be imminently reported.
Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:“The 2023 drill campaign started off on the right foot with a significant step out from the centre of the mineralized zone discovered at Cumavici Ridge in 2022. The footprint of silver–dominated, polymetallic mineralization now extends over 700 m along the NW-SE corridor at this locality, only one of five separate targets along the 7.2 km long Cumavici corridor. The laboratory assays from these step-out drill holes and the central part of Cumavici Ridge are expected to come back shortly. We will continue to carry on further drilling at the Cumavici Ridge target in our Phase II drilling.”
The Company commenced its Phase II drilling program at Cumavici Ridge, which was the location of the 2022 high-grade polymetallic discovery which returned up to 505 g/t Ag Eq. over 11 m (see Company news release dated 18th April 2023). Over 600 m to the northwest Drillholes CMV23006-010 successfully discovered another mineralized structure, attesting to the prospectivity of the Cumavici Ridge target. Much of the > 7 km strike length structural corridor remains untested, with several mineralized structures outcropping at surface, offering Terra significant exploration opportunity to discover more polymetallic epithermal veins.
Drill Core Observations Drillhole CMV23007 is situated 520 m northwest of CMV23001 and targets another shallow structure prospective for polymetallic mineralization. Between 39.1 and 41.8 m a series of fault hosted veins, dominated by radiating aggregates of stibnite are observed within a silicified lapilli tuff.
Figure 1. Geological map illustrating the newly discovered structure> 600 m northwest ofthe Cumavici Ridge discovery. 2022 discovery holes are also illustrated alongside the 4 previously released 2023 drillholes to the southeast, which all intercepted massive sulphide mineralization.See company news release 18th April 2023(click here to view image).
Figure 2. HQ3 diameter drill core from drillhole CMV23007 illustrating silicified lapilli tuffs with sulphide veinlets and interval of semi-massive sulphide comprising stibnite, sphalerite, and quartz within white, dashed squares (click here to view image).
Drillhole CMV23009 collared 74.0 m northwest of CMV23007 intercepted a zone of sulphide mineralization within a tuffaceous breccia between 39.4 and 45.7 m downhole. Within the mineralized structure there are intervals of complete replacement of the breccia matrix by sulphide and a 10 cm sulphide vein comprising stibnite-sphalerite-galena.
Drillhole CMV23010 stepped 59.0 m west-northwest and intersected a mineralized zone between 83.8 and 90.3 m downhole with aggregates of sphalerite within the structure. A sulphide vein is present at 86.85 m depth consisting of stibnite, banded sphalerite, and galena. Confirmation of sulphide mineralization in CMV23010 extends the Cumavici Ridge system 642 m to the northwest and the system remains open.
Ongoing Exploration Program Further drilling at the Cumavici Ridge target will be focused on extending strike length towards the northwest from the 2022 drillholes (CMVDD001-004). It is interpreted that where the northwest-southeast structure is intersected by a 2nd order northeast-southwest structure a dilation zone is present, resulting in thicker intervals of mineralization. The down-dip section of the high-grade, polymetallic intercepts released in 2022 will also be tested with further drilling to target the mineralization potential at depth.
Hole ID
Easting
Northing
Elevation (m)
Dip
Azimuth
Depth (m)
Recovery (%)
CMV23006
359918
4888823
621.3
-64
047
82.2
99.15
CMV23007
359868
4888877
637.3
-63
046
59.7
99.35
CMV23008
359866
4888914
640.6
-66
053
65.8
98.71
CMV23009
359828
4888939
640.1
-58
041
73.8
100.00
CMV23010
359770
4888949
650.2
-50
045
91.5
97.49
Table 1.Collar locations for reported Phase II drillholes. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).
Qualified Person Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.
About the Company Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp. “Aleksandar Mišković”
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words“will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
VANCOUVER, BC / ACCESSWIRE / September 5, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG)(OTC PINK:BWCGF) is pleased to announce that it has completed its maiden drilling program at the Cantoo Property located in southeast Alaska. Three drill holes totalling 1,356 meters were completed. Initial visual observation of the drill core suggests significant alteration and mineralization consistent with a porphyry system. The Cantoo Property is situated adjacent to the Canadian border and the historic Premier Gold Mine that is currently in redevelopment.
Drilling Highlights:
Blackwolf’s CEO Morgan Lekstrom states, “We are pleasantly surprised encountering indications of a porphyry system at Cantoo, although it was not unexpected given the history of the area and proximity to the Premier mine. Cantoo may represent a telescoping porphyry feeder complex to the high-grade Premier-Big Missouri epigenetic gold-silver veins, similar to the KSM-Snowfield system that underlies the Brucejack Mine to the north.
In summary, there are strong indications that we are in the right rocks and location as we’ve hit zones at depth that are encountered at surface. Assay results are pending for these initial drill holes as well as the summer surface sampling program and will be released when available. In order to make good use of the summer exploration window, the drill has been moved to the Harry Property while we await these results.”
The Cantoo Property has never been previously drilled yet had some historic mining and exploration performed in the 1920’s. Surface work during 2023 targeted multiple stacked shallow-dipping vein structures and breccias, including a 30 m (100ft) wide structure. Blackwolf’s surface sampling results at Cantoo include high-grade mineralization, with grades up to 30.4 grams per tonne (“g/t”) gold, 2,860 g/t silver and 5.8% copper.
The Cantoo Property is primarily underlain by the Texas Creek intrusive complex, with multiple phases of intrusive rocks with potassic, phyllic/QSP and propylitic alteration, along with multiple styles of copper mineralization. Additionally, drilling encountered zones of strong silicification and veining that correspond with the surface expressions of veins outcropping in cliffs at Cantoo.
QA/QC and Qualified Person
The analytical work on the Hyder project will be performed by MSA LABS, a certified analytical services provider, at its laboratory in Langley, British Columbia. All samples will be prepared using procedure PRP-910 (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-111 (30g fire assay with AAS finish) for gold and IMS-130 (0.5g, aqua regia digestion and ICP-MS/ES analysis) for rock samples, and IMS-230 (1.0g, 4-acid digestion and ICP-MS analysis) for core samples. Any samples containing >10g/t Au will be reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn will be reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis). Samples containing >1000 g/t Ag will be reanalyzed using method FAS-418 (30g fire assay with AAS finish) and samples containing >20% Pb will be reanalyzed using method STI-8Pb (volumetric titration).
The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no significant QA/QC issues.
Andrew Hamilton, P.Geo., Consultant to the Company, a Qualified Person under NI 43-101, has. reviewed and approved the scientific and technical content of this release.
About Blackwolf Copper and Ltd.
The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as five Hyder Area gold-silver and VMS properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the high-priority wide gold-silver veins at the Cantoo Property. Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. For more information on Blackwolf, please visit the Company’s website at www.blackwolfcopperandgold.com.
On behalf of the Board of Directors of Blackwolf Copper and Gold Ltd.
“Morgan Lekstrom” CEO and Director
For more information, contact:
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.
Cautionary Statement Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements relating to the Hyder properties and the Company’s future objectives and plans.Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices and changes in the Company’s business plans.In making the forward-looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements 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 statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.
For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.
SOURCE: Blackwolf Copper and Gold Ltd
Three core holes up to 676 meters long completed at Cantoo;
Significant alteration and mineralization was encountered, consistent with a porphyry-style system similar to copper-gold +/- molybdenum deposits in the Golden Triangle;
Strong silicification zones including veining with sulphides were intersected, that corresponds with surface expressions identified from surface sampling; and
As the Company awaits assay results from Cantoo, the drill has been moved to test gold-silver targets at the Harry Project
Morgan Lekstrom 250-574-7350 (Mobile 604-343-2997 (Office) mll@bwcg.ca
VANCOUVER, BC / ACCESSWIRE / September 5, 2023 / Rover Metals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce that further to its releases of July 20, 2023 and June 23, 2023, Rover has received additional orders of $120,000 for its $0.08 Unit Financing. The Company has received approval from the Toronto Venture Exchange (the “TSXV”) to close the third and final tranche of its unit financing for gross proceeds of $120,000 (the “Third Closing”). The Company will issue 1,500,000 common shares and 1,500,000 warrants. The shares and warrants issued under the Third Closing will bear the minimum four-month regulatory hold period from the date of issuance.
The Company has raised a total of $797,000 under all closings of this financing, resulting in the issuance of 9,962,500 common shares and 9,962,500 common share purchase warrants. The warrants have a useful life of 30 months and an exercise price of $0.12. Finder’s fees in the amount of $36,200 and 452,500 finder’s warrants were paid in connection with this financing. The finder’s warrants bear the same terms as the unit warrants. The financing was led by experienced lithium investors from Europe and Australia.
Use of Proceeds
The proceeds from the Third Closing will be used for general and administrative expenses. Due to the wildfires and evacuation orders that remain in place, in and around the Yellowknife area, management of the Company is putting exploration plans for its IML Zinc-Copper project on hold until 2024.
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:
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, BC / ACCESSWIRE / September 1, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG)(OTC PINK:BWCGF) is pleased to announce that the Company’s proposed acquisition of all of the outstanding securities of Optimum Ventures Ltd. (“Optimum“) by way of plan of arrangement (the “Transaction“) was overwhelmingly approved at Optimum’s annual general and special meeting of securityholders held on August 31, 2023.
Closing of the Transaction remains subject to court approval as well as other customary closing conditions. Assuming the timely completion of these conditions, the Company expects the Transaction to close on or about September 12, 2023.
Further to the Company’s news release of July 28, 2023, the Company clarifies terms of the market maker agreement (the “Agreement“) it has entered into with PI Financial Corp. (“PI“). Pursuant to the Agreement, PI has been engaged to trade the securities of Blackwolf on the TSX‐V for the purposes of maintaining an orderly market. In consideration of the services provided by PI, the Company will pay PI a monthly cash fee of $5,000 for a minimum term of six months and thereafter the Agreement is automatically renewable on a month-to-month basis. As of the date the Company entered into the Agreement with PI, neither PI nor their authorized person held any securities directly in the Company.
About Blackwolf Copper and Gold Ltd.
Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as five Hyder Area gold-silver and VMS properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the high-priority wide gold-silver veins at the Cantoo Property. For more information on Blackwolf, please visit the Company’s website at www.blackwolfcopperandgold.com.
On behalf of the Board of Directors of Blackwolf Copper and Gold Ltd.
“Morgan Lekstrom” CEO and Director
For more information, contact:
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.
This news release contains “forward-looking information” and “forward looking statements” within the meaning of applicable Canadian securities legislation (collectively herein referred to as “forward-looking information”). Wherever possible, words such as “expects”, “expected”, “strategic” and similar expressions or statements that certain actions, events or results “will” or “may” be taken, occur or be achieved, or the negative forms of any of these terms and similar expressions, have been used to identify forward-looking information. Forward-looking information contained herein includes, but is not limited to, the consummation and timing of the Transaction, the satisfaction of the conditions precedent to the Transaction, the date of the hearing of the application for a final order in respect of the Transaction, and discussion of future plans, projects, objectives, estimates and forecasts and the timing related thereto.
Forward-looking information is subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual results, actions, events, conditions, performance or achievements to materially differ from those expressed or implied by the forward-looking information, including, without limitation, the risk that the Transaction is not completed, on the timeline currently contemplated or at all, the potential of a third party making a superior proposal to the Transaction and such other risks as are identified in the public disclosure documents of the Company and Optimum filed on SEDAR+ at www.sedarplus.ca (the “Disclosure Documents”). This list is not exhaustive of the factors that may affect any of our forward-looking information. Although we have attempted to identify important factors that could cause actual results, actions, events, conditions, performance or achievements to differ materially from those contained in forward-looking information, there may be other factors that cause results, actions, events, conditions, performance or achievements to differ from those anticipated, estimated or intended.
Our forward-looking information is based on the assumptions, beliefs, expectations and opinions of management on the date the statements are made, many of which may be difficult to predict and beyond our control. In connection with the forward-looking information contained in this news release, we have made certain assumptions about, among other things, our ability to satisfy the terms and conditions precedent to the Transaction. Although we believe that the assumptions inherent in forward-looking information are reasonable as of the date of this news release, these assumptions are subject to significant business, social, economic, political, regulatory, competitive and other risks and uncertainties, contingencies and other factors that could cause actual actions, events, conditions, results, performance or achievements to be materially different from those projected in the forward-looking information. The Company cautions that the foregoing list of assumptions is not exhaustive. Other events or circumstances could cause actual results to differ materially from those estimated or projected and expressed in, or implied by, the forward-looking information contained in this news release.
Additional information about the risks and uncertainties concerning forward-looking information and material factors or assumptions on which such forward-looking information is based is provided in the Disclosure Documents. Forward-looking information is not a guarantee of future performance. 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 information. Forward-looking information involves statements about the future and is inherently uncertain, and our actual achievements or other future events or conditions may differ materially from those reflected in the forward-looking information due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to in this news release and the Disclosure Documents. For the reasons set forth above, readers and prospective investors should not place undue reliance on forward-looking information.
We do not assume any obligation to update forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable law.
SOURCE: Blackwolf Copper and Gold Ltd.
Morgan Lekstrom 250-574-7350 (Mobile) 604-343-2997 (Office) mll@bwcg.ca
