Category: Base Metals

Metallic Minerals Provides Update on Expansion Drilling at La Plata Copper-Silver-Gold-PGE Project in Southwest Colorado, USA

Post author By admin
Post date September 14, 2023

VANCOUVER, BC / ACCESSWIRE / September 14, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to provide an update on drilling at the La Plata copper-silver-gold-PGE project. The first phase of the 2023 campaign is testing extensions of high-grade mineralization seen in 2022 drill hole LAP22-04, which intercepted 816 meters of continuous mineralization grading 0.41% copper equivalent (“Cu Eq”) with internal higher-grade zones. The hole ended in high-grade precious metal-rich mineralization grading 11.54% Cu Eq over 0.61 meters (5.42% Cu, 47.0 g/t Ag, 0.622 g/t Au, 5.016 g/t Pt and 5.393 g/t Pt).

Highlights

Over 2,000 meters of a planned 5,000-meter Phase 1 drill program designed to expand the existing resource have been completed.
Hole LAP23-05 was completed to a depth of 909 meters, while hole LAP23-06 is ongoing at a depth of approximately 1,150 meters. Both these 2023 drill holes have intersected altered porphyry mineralization with visible copper sulfide including chalcopyrite and bornite similar to that seen in LAP22-04 (see Figure 1-2).
Initial assay results are expected in the coming weeks and continuing into early 2024.
Results of the 2023 drilling have potential to expand the size of the current resource and increase the overall grade of the deposit with the inclusion of precious metals assays for gold, platinum and palladium in addition to copper and silver in the current resource.
Metallic Minerals has filed a National Instrument 43-101 technical report for the expanded resource estimate announced in July 2023.
The 2023 field campaign is being funded by a strategic equity investment announced in May whereby Newcrest Mining Limited acquired a 9.5% ownership position in Metallic Minerals with the goal of accelerating advancement of the La Plata project.

Scott Petsel, Metallic Minerals’ President, stated, “The team is excited about the progress and initial indications from our current drill program at La Plata. Last year’s exceptional hole LAP22-04 was a major discovery of higher-grade copper and precious metal-rich, porphyry-style, mineralization starting from surface. These first two drill holes are offset holes drilled above and below LAP22-04 to test extensions of mineralization away from that discovery hole to potentially expand the resource and test the scale of size of this higher-grade zone of mineralization. The results of this program are expected to form the basis of an updated resource estimate. This program will also assist in vectoring to the strongest parts of the mineralized system as we work to maximize the opportunity to advance this potential Tier 1 asset.”

The Allard deposit remains open to significant expansion within the resource area to the east, north and west and to depth, with the potential to add gold, platinum and palladium to the current copper and silver resource with the completion of additional exploration drilling. In addition, the larger porphyry system at the La Plata project, which covers an area of over 10 km², remains underexplored with the potential for new discoveries of both additional copper porphyry centers, as well as high-grade epithermal silver and gold systems.

Upcoming Events

Precious Metals Summit Presentation

Metallic Minerals CEO, Greg Johnson, will be presenting live from the 2023 Precious Metals Summit in Beaver Creek, Colorado, on September 14^th at 4:30 pm Mountain time. Click here to view the presentation.

Adelaide Capital Presentation

Metallic, as well as fellow Metallic Group members Stillwater Critical Minerals and Granite Creek Copper, will be presenting at the Wildfire Relief series hosted by Adelaide Capital on September 22nd at 3:30 ET. Click here to register.

121 Investment Conference

Metallic Minerals will be participating in 1-1 meetings at 121 Global Online September 26^th & 27^th. Find registration information here.

Figure 1. Cross Section Through Allard Resource Area Showing New 2023 Drill Holes

Figure 2. Photograph from Hole LAP23-06, 480.0m to 489.0m – High Quartz-Sulfide Vein Density in Altered Syenite.

Corporate Update

Metallic Minerals announces that Susan Henderson has been appointed to the role of Corporate Secretary, effective immediately. Ms. Henderson has worked in expanding roles with the Company since 2016, most recently in the role of Business Manager. Ms. Henderson replaces Alicia Milne who has stepped down. Ms. Milne will continue as a consultant to the Company.

Greg Johnson, CEO of Metallic Minerals, stated, “We very much appreciate Alicia’s exceptional work and dedication as Corporate Secretary over the past years and we wish her continued success in her new venture. Susan has been an integral part of the Metallic Group since its inception and invaluable in enabling our growth and expansion. We are very pleased to further expand her role to that of Corporate Secretary.”

NI 43-101 Technical Report

Further to the news release dated July 31, 2023, Metallic Minerals has filed a National Instrument 43-101 technical report, entitled, “Technical Report on the Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Southwestern Colorado” with an effective date of July 12^th, 2023. The report is available on the Company’s profile at www.sedar.com and on our website at www.metallic-minerals.com

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company focused on copper, silver, gold, and other critical minerals in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

At the Company’s La Plata project in southwestern Colorado, the new 2023 NI 43-101 mineral resource estimate identifies a significant porphyry copper-silver resource containing 1.21 Blbs copper and 17.6 Moz of silver¹. The 2022 expansion drilling provided the basis for the updated resource, including the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited to accelerate the advancement of the Company’s La Plata project. In the 2023 Fraser Institute’s Annual Survey of Mining Companies, Colorado ranked 5th globally for investment attractiveness and 2nd in the USA.

In Canada’s Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining Company’s (“Hecla”) operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla, the largest primary silver producer in the USA and third largest in the world, is anticipating full production at its Keno Hill operations by the end of 2023. An inaugural mineral resource estimate on the project is expected in Q4 2023, with an expansion drill program slated to commence in September.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators, including Parker Schnabel of Little Flake Mining from the Discovery Channel television show, Gold Rush.

All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. The Company is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.metallic-minerals.com Phone: 604-629-7800
Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

Footnotes:

See news release dated July 31, 2023: https://mmgsilver.com/news/2023/metallic-minerals-expands-resource-at-la-plata-copper-silver-gold-pge-project-in-southwestern-colorado-usa/

Qualified Persons

Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure not pertaining to the resource estimate contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.

Forward-Looking Statements

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

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

SOURCE: Metallic Minerals Corp.

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Options Its Copperhole Creek Polymetallic Project in Australia to Lumira Energy Ltd.

Post author By admin
Post date September 13, 2023

Vancouver, British Columbia–(Newsfile Corp. – September 13, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement for EMX’s Copperhole Creek polymetallic project in Queensland, Australia (the “Project”) (see Figure 1) to Lumira Energy Ltd. (“Lumira“), a private Australian Company. The agreement provides EMX with a 2.5% Net Smelter Return (“NSR”) royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with this transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) in mid-year 2024.

The polymetallic Copperhole Creek Project is located 20 km east of the Georgetown-Forsayth Metallogenic District in Queensland, with mineralization developed in the same host rocks as the Georgetown-Forsayth District. There are two main styles of mineralization recognized on the Copperhole Creek property, (1) tin-copper-molybdenum mineralization developed in zones of greisen-style alteration and (2) shear zone hosted copper-silver mineralized veins and breccias. Numerous occurrences, historical mines and prospects with either or both styles of mineralization occur on EMX’s land position (see Figure 2). Although the nearby Georgetown-Forsayth Metallogenic District is well known for its historical gold production, only a few of the occurrences at Copperhole Creek have been assayed for gold, adding further upside to the Project.

This transaction will provide Lumira with a flagship asset in Australia in advance of its proposed ASX listing. EMX and Lumira will apply modern exploration methods and deposit models to identify and prioritize additional targets within the project area.

Commercial Terms Overview: All terms in Australian Dollars (AUD) unless otherwise indicated. Upon execution, Lumira will make a cash payment of $20,000 to EMX to commence an exclusive two-month option period. Pursuant to the agreement, Lumira can acquire a 100% interest in the Project by paying EMX an additional $30,000 prior to the end of the two-month option period. Upon a successful listing on the ASX, Lumira will issue shares of Lumira equivalent to $100,000 to EMX and a further 500,000 shares 12 months after listing. Furthermore, upon listing Lumira will also issue to EMX 1,000,000 options with 500,000 options being exercisable for one share of Lumira at a price of $0.30 for 24 months and 500,000 options being exercisable for one share of Lumira at a price of $0.40 for 36 months.

Upon completing the option period requirements, Lumira will earn a 100% interest in the Project with EMX retaining:

A 2.5% NSR royalty interest.
Annual advance royalty (“AAR”) payments of $30,000 per year commencing upon the third anniversary of the initial public offering, with the AAR payment escalating by 15% per year until reaching a maximum of $75,000 per year.
Milestone payments as follows:
- $250,000 in cash or Lumira shares upon publication of a maiden JORC complaint resource;
- $250,000 in cash or Lumira shares upon publication of a scoping study or a Preliminary Economic Assessment;
- $500,000 in cash upon publication of a Definitive Feasibility Study; and
- $1 million in cash upon commencement of commercial production.

To maintain its interest in the projects, Lumira will also:

Spend $50,000 in exploration expenditures before the date of the initial public offering (“IPO”);
Spend an additional $250,000 by the first anniversary of the IPO;
Spend an additional $200,000 by the second anniversary of the IPO; and
Complete a minimum of 1,000 m of drilling each year from the third to the eighth anniversary of the IPO.

Within 96 months of executing the agreement, Lumira will have the right to re-purchase 0.5% of the NSR Royalty on the Project for $1.2 million.

Copperhole Creek Project. Although located within a prospective geologic belt, with the historical Einasleigh Copper Mine located 25 km along trend to the southeast, the Copperhole Creek project has not seen systematic exploration in the past 30 years. Production from various historical mines took place in the early 20^th century, with limited exploration taking place in the 1970’s and 1980’s. The Questend prospect was drilled by BP Minerals in 1978 with two shallow reverse circulation drill holes, with a reported intercept of 12 meters of 3.27% Cu, 0.66% Zn, 0.26% Sn and 51 ppm Ag from 36 meters¹ (true width not reported). The mineralization was hosted within a quartz-sulfide breccia body that appears to project from mineralization exposed in nearby prospect pits.

In a broad sense, mineralization appears to be zoned with Cu-Mo-Sn mineralization developed in the northeastern portion of the property to more copper-silver mineralization developed in the southwest. Prioritized exploration targets include mineralized shear zones and breccias that were targeted by the historical mining operations. The project also contains potential for Cu-Mo-Sn porphyry style mineralization in the zones of greisen style alteration and mineralization.

More information on the Project can be found at www.EMXroyalty.com.

Comments on Nearby and Adjacent Properties. The deposits, projects and mines discussed in this news release provide context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Project hosts similar quantities, grades or styles of mineralization.

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

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 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 Annual Information Form (“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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location Map of the Copperhole Creek Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/180418_figure%201.jpg

Figure 2. Overview Map of the Copperhole Creek Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/180418_figure2.png

¹ Drilling was conducted by BP Mining Development Australia Pty Ltd in 1978 with results reported to the Queensland Geologic Survey in 1979 in a report titled Final Report on A.TO P.1806 (cr_7585.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

² Underground sampling was completed by Bridge Minerals in 1971 and reported to Queensland Geologic Survey that year in a report titled Annual Report Georgetown District Eveleigh Block (cr_3533.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

³ Surface rock chip sampling was completed by Battle Mountain Gold Company in 1989 and reported to the Queensland Geologic Survey that year in a report titled Authority to Prospect 5855M (Copperhole Creek) (CR_20492.pdf). EMX has not performed sufficient work to verify the published assay results, and these data cannot be verified as being compliant with NI43-101 standards. However, EMX believes these results to be reliable and relevant.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180418

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

EMX Receives Initial Royalty Payment from Zijin

Post author By admin
Post date September 12, 2023

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of $6,675,947 in royalty proceeds from its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin recently agreed to an amended and restated royalty agreement that covers Zijin’s Brestovac exploration permit area (including the active Cukaru Peki copper and gold mine), as well as portions of Zijin’s Jasikovo-Durlan Potok exploration license (see EMX News Release dated September 5, 2023). EMX now owns a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced.

The approximately $6.68 million royalty payment consisted of $1.59 million from July-December, 2021, payments of $3.20 million from the calendar year 2022, and $1.89 million for the period of January-June, 2023.

Various news media reports recently highlighted Zijin’s planned expansion of the Cukaru Peki operation. As reported by Bloomberg News on August 28, 2023, Branko Rakocevic, Assistant General Manager at Serbia Zijin Mining d.o.o. Bor, commented: “These are vast reserves, which require additional infrastructure, additional investment of around $3.5 to $3.8 billion.” This would represent a substantial further investment in the Cukaru Peki project. Zijin is currently producing copper and gold from the Upper Zone deposit at Cukaru Peki, while concurrently developing the Lower Zone porphyry copper and gold deposit.

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.

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

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

Forward-Looking Statements

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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/180301

Base Metals Energy Junior Mining Precious Metals

Blackwolf Completes Acquisition of Optimum Ventures; Andrew Bowering Joins the Board of Directors

Post author By admin
Post date September 12, 2023

VANCOUVER, BC / ACCESSWIRE / September 12, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG)(OTC PINK:BWCGF) and Optimum Ventures Ltd. (“Optimum“) (TSXV:OPV) are pleased to announce that they have completed their previously announced plan of arrangement, pursuant to which the Company acquired all the issued and outstanding shares of Optimum, and, in exchange, shareholders of Optimum received 0.65 of a common share of Blackwolf for each Optimum share held (the “Transaction“). In addition, Andrew Bowering, mining entrepreneur, a founder of Optimum, has joined the Company’s board of directors, replacing Don Birak, who stepped down effective September 12, 2023.

Andrew Bowering is a renowned venture capitalist with over 30 years of experience in global mineral exploration and development and a track record of building shareholder value. He has founded, funded, and led teams in the pursuit of various metals, from initial exploration to production. Mr. Bowering has held senior management roles, overseeing asset acquisitions, sales, and raising over $250 million in development capital. He was a founder of Millennial Lithium Corp (acquired by Lithium Americas) and is actively involved in other publicly traded companies in the battery metals and precious metals sectors, such as Prime Mining Corp and American Lithium Corp.

Morgan Lekstrom, CEO and Director of the Company stated, “With the acquisition of Optimum, Blackwolf has become a top developer of precious and strategic metal projects in Alaska and British Columbia’s Golden Triangle. We are excited to welcome Optimum shareholders and our new board member, Andrew Bowering. This merger has brought exciting projects and expertise to Blackwolf, and we believe it contribute significantly to our goal of creating value for our shareholders.“

Rob McLeod, Executive Chairman of Blackwolf, said, “We are proud to welcome Andrew Bowering as a new director of Blackwolf. Andy is one of Canada’s top mining entrepreneurs, and we have a history of working together in the Golden Triangle since 1995. We are looking forward to working together again. Also, on behalf of the rest of the Blackwolf Team, I want to thank Don Birak for his valuable service to the Company and wish him the best in his future endeavours.“

Delisting of Optimum Shares and Information for Optimum Shareholders

The Optimum shares are expected to be delisted from the TSX Venture Exchange at the close of trading on September 14, 2023, and Optimum intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.

Further information about the Transaction is set forth in Optimum’s management information circular dated July 31, 2023 relating to the annual general and special meeting of securityholders of Optimum (the “Circular“), which is available under Optimum’s SEDAR+ profile at www.sedarplus.ca. Information regarding the procedure for exchange of Optimum shares for Blackwolf shares is provided for in the Circular. In order to receive Blackwolf shares in exchange for Optimum shares, registered shareholders of Optimum must complete, sign, date and return the letter of transmittal that was mailed to each registered Optimum shareholder along with the Circular. For those shareholders of Optimum whose Optimum shares are registered in the name of a broker, investment dealer, bank, trust company or other intermediary or nominee, they should contact such intermediary or nominee for instructions and assistance in depositing their Optimum shares.

Advisors and Counsel

In connection with the Transaction, Fiore Management and Advisory Corp. was issued 567,299 common shares of the Company in consideration for advisory services provided to the Company.

DuMoulin Black LLP acted as legal counsel to Blackwolf. Boughton Law Corporation acted as legal counsel to Optimum.

Upon closing of the Transaction and the issuance of shares for advisory services the Company’s issued and outstanding common shares is 108,957,568.

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 six Hyder Area gold-silver and base metal properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the Cantoo and Harry properties. 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:

Morgan Lekstrom
250-574-7350 (Mobile)
604-343-2997 (Office)
mll@bwcg.ca

Liam Morrison
604-897-9952 (Mobile)
604-343-2997 (Office
lm@bwcg.ca

Cautionary Statements Regarding Forward-Looking Statements

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 anticipated benefits of the Transaction, and discussion of future plans, projects, objectives, estimates and forecasts and the timing related thereto, the timing of the delisting of Optimum, Optimum ceasing to be a reporting issuer.

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, risks related to exploration and potential development of the Company’s projects; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and such other risks as are identified in the public disclosure documents of the Company 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, the Company’s ability to achieve the business and operational synergies expected as a result of the Transaction and explore and develop its projects as currently anticipated. 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

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Base Metals Energy Junior Mining Precious Metals

Emperor Metals Reporrts First Drill Results on Globex Duquesne West Gold Property

Post author By admin
Post date September 12, 2023

Duquesne West, Quebec property map

ROUYN-NORANDA, Quebec, Sept. 12, 2023 (GLOBE NEWSWIRE) — GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTMzero, Düsseldorf and Quotrix Düsseldorf Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to provide an update regarding drilling by Emperor Metals (CSE: AUOZ, OTCPK: EMAUF, FSE: 9NH) on the Duquesne West Gold property in Duparquet township, Quebec (NTS-32D06) under option from 50% Globex owned Duparquet Assets Ltd. (see Globex press release dated October 12, 2022)

Emperor has completed six drill holes to date totaling 5,500 metres of the planned +8,000 metre program.

Partial assay results are available from the first two drill holes and include the following:

Hole DQ23-01 intersected 5.6 g/t Au over 11.7 m (38.4 feet).
Hole DQ23-02 intersected 3.97 g\t Au over 10.65 m (34.9 feet) at a core depth of 540.25 m and an addition wide intersection of 1.69 g\t Au over 25.0 m (82 feet). (Note: This hole was recollared and extended. Assays are pending). Click to access Emperor’s press release of September 12, 2023.

See Figure 1 below for details of current assay results.
The optioned Duquesne West property consists of 38 cells which straddle the gold localizing Porcupine-Destor Break which hosts numerous gold deposits across the Abitibi of Quebec and Ontario. Previous drilling has intersected a significant number of gold zones along the entire strike length of the property.

An NI 43-101 resource estimate titled “Technical Report and Mineral Resource Estimate Update for the Duquesne West/Ottoman property, Quebec, Canada, for Xmet Inc.”, prepared by David Power Fardy, M.Sc., P. Geo., Senior Geologist and Kurt Breede, P.Eng., Senior Resource Engineer of Watts, Griffis and McOuat dated October 20, 2011, was completed.

Tonnes	Au (g/t) (Capped)	Contained Au (oz) (Capped)	Au (g/t) (Uncapped)	Contained Au (oz) (Uncapped)
4,171,000	5.42	727,000	6.36	853,000

The NI 43-101 is available here or on Globex’s website. It is worth noting that the Duquesne West property is bounded on the west and east by First Mining Gold’s Pitt and Duquesne Mine properties on which First Mining reported 2,691,000 tonnes grading 2.67 g/t Au and 11,330,000 tonnes grading 2.24 g\t Au respectively in press release dated September 7, 2023.

Figure 1 – Partial assay results from Hole No DQ23-01 and DQ23-02, Source: Emperor’s PR

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
¹DQ23-01	531.30	532.20	0.90	4.96
	532.20	532.70	0.50	2.95
	532.70	533.70	1.00	3.01
	533.70	534.35	0.65	11.96
	534.35	535.00	0.65	2.00
	535.00	535.50	0.50	19.27
	535.50	536.35	0.85	5.57
	536.35	536.95	0.60	3.21
	536.95	537.50	0.55	2.30
	537.50	538.00	0.50	1.30
	538.00	538.90	0.90	13.01
	538.90	539.45	0.55	12.52
	539.45	540.00	0.55	6.66
	540.00	540.65	0.65	2.63
	540.65	541.25	0.60	5.11
	541.25	542.25	1.00	1.05
	542.25	543.00	0.75	2.07
Wt. Avg.			11.70	5.63
Including			5.75	7.98

	551.00	551.50	0.50	8.21
Wt. Avg.			0.50	8.21

¹DQ23-02	540.25	541	0.75	13.19
	541.00	541.75	0.75	4.64
	541.75	542.55	0.80	2.97
	542.55	543.25	0.70	2.9
	543.25	544.25	1.00	3.01
	544.25	545.25	1.00	5.92
	545.25	546.25	1.00	3.32
	546.25	547.25	1.00	2.29
	547.25	548.00	0.75	1.61
	548.00	548.75	0.75	1.81
	548.75	549.75	1.00	0.86
	549.75	550.30	0.55	9.52
	550.30	550.90	0.60	2.11
Wt. Avg.			10.65	3.97
Including			5.00	5.34

	814.00	841.00	25.0	1.69
Wt. Avg.			25.0	1.69
Including			7.00	3.12
¹Note: Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%.

Duquesne West, Quebec property map

Globex is pleased with the progress reported by Emperor and looks forward to additional disclosures of assay results.

This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.

We Seek Safe Harbour.	Foreign Private Issuer 12g3 – 2(b)
	CUSIP Number 379900 50 9 LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir. President & CEO Globex Mining Enterprises Inc. 86, 14^th Street Rouyn-Noranda, Quebec Canada J9X 2J1	Tel.: 819.797.5242 Fax: 819.797.1470 info@globexmining.com www.globexmining.com

Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9fa69689-3a3f-46a7-ae8a-b7d9c772f4e0

Base Metals Energy Junior Mining Metallic Group Precious Metals Stillwater Critical Minerals

Stillwater Critical Minerals Provides Exploration and Corporate Updates Including Resource Expansion Drilling Now Underway at Stillwater West

Post author By admin
Post date September 12, 2023

VANCOUVER, BC / ACCESSWIRE / September 12, 2023 / Stillwater Critical Minerals Corp. (TSX.V:PGE)(OTCQB:PGEZF) (the “Company” or “Stillwater”) is pleased to provide an update on drilling now underway at the Company’s flagship Stillwater West Ni-PGE-Cu-Co + Au project in Montana. The Company is further pleased to provide updates on exploration programs underway now at the Company’s Canadian projects including the Kluane PGE-Ni-Cu project in Yukon, and drilling at the Drayton – Black Lake gold project in Ontario via Heritage Mining, as part of their earn-in deal.

Figure 1 – Drill rig at Chrome Mountain, west of the DR-Hybrid deposits. Drilling to date has focused on this area with a view to expanding on recent high-grade nickel sulphide intercepts with significant copper, cobalt, palladium, platinum, gold and rhodium co-product grades.

Figure 2 – Significant sulphide mineralization in hole CM2023-04 around 369 feet (112.5 meters) depth.

Highlights

Drilling focused on expansion of the NI 43-101-compliant resources announced January 25, 2023 (the “2023 Resource”) is underway now, funded by the strategic investment by Glencore PLC announced June 30, 2023.
Crews have begun the sixth hole and completed more than 1,800 meters drilling to date.
All holes in the 2023 campaign to date are west and south of the DR-Hybrid deposit at Chrome Mountain, which forms the western edge of the five deposits that span nine kilometers to comprise the 2023 Resource.
Multiple intervals showing visible sulphide mineralization have been returned to date. Drilling has focused in the area of recent high-grade discoveries made by the Company such as drill hole CM2021-05, which returned 13.2 meters grading 2.89% Recovered Nickel Equivalent¹ (“NiEq”) (2.31% Ni, 1.51 g/t 4E, 0.35% Cu, and 0.115% Co), starting at 37.6 meters and contained within 400.8 meters of continuous battery and precious metal mineralization (see news release May 3, 2022).
The 2023 campaign is the first to apply updated geological models which incorporate similar geology from South Africa’s Platreef district under the direction of Dr. Danie Grobler, who joined the team in May of 2022 as Vice-President Exploration.
The Company is applying geologic models from the Platreef district based on well-documented parallels between the Stillwater Igneous Complex and the Bushveld Igneous Complex, which hosts very large Ni-Cu-PGE mines that are now in operation by Ivanhoe Mines and Anglo American.

Michael Rowley, Stillwater President and CEO, stated, “We are very pleased to have programs underway on all three of our 100%-owned district-scale assets, with particular focus on expansion of resources defined at our flagship Stillwater West project. The Stillwater West project is in a sweet spot as a district-scale asset that is underexplored yet also located in an expanding US mining jurisdiction with a long history of critical mineral supply and government support. Drilling is on-going on the western edge of the resource area and our partners including Glencore and the US Geological Survey are engaged and on-site. In Canada we are conducting a smaller but essential program to advance our Kluane PGE-Ni-Cu project, and Heritage Mining is actively drilling our Drayton-Black Lake high-grade gold project adjacent to Treasury Metals in Northwest Ontario. Heritage Mining is making good progress on their previously announced earn-in, and we are pleased with the excellent exposure that provides us to the gold market and with the value they are adding to the project. We look forward to further updates as results become available.”

Dr. Danie Grobler, Stillwater Vice-President of Exploration, said “We have successfully intercepted multiple targeted mineralized zones that were predicted in our updated exploration model and are very pleased with what we see in the core at Stillwater West. The current drill campaign is the first to incorporate detailed structural and stratigraphic models from very similar mineralization in South Africa’s Bushveld Igneous Complex in the Stillwater Igneous Complex.”

Kluane PGE-Ni-Cu Project Update

Exploration work is now underway at the Company’s 100%-owned Kluane PGE-Ni-Cu project in Yukon, Canada, funded in part by a Yukon Mineral Exploration Program grant. Geological mapping, drone LiDAR and imagery acquisition, and prospecting and rock sampling programs are being completed with the objective of advancing targets for follow-up campaigns and completing detailed geologic maps over priority areas.

Work in 2023 will also begin to formally examine the potential for carbon capture at the Kluane project with an initial focus on developing a procedure to identify and map rocks for their potential to sequester carbon based on existing data sources, remote sensing and imagery.

The Kluane project consists of a large 255 km² land position containing the Spy, Ultra and Catalyst properties, all of which occur within the Kluane Mafic-Ultramafic Belt; a system of PGE-Ni-Cu deposits which are part of a sequence of mafic-ultramafic rocks that extends through the Yukon from northern British Columbia to central Alaska. Located near the Alaska Highway, the Kluane project properties are on trend with the Wellgreen Ni-Cu-PGE deposit.

Drayton – Black Lake

Drilling is now underway at Stillwater’s Drayton-Black Lake project by Heritage Mining (CSE: HML) under an earn-in agreement announced November 30, 2022, by which Heritage can earn a 90% interest in the project by completing work commitments and making payments of cash and shares to the Company.

As announced by Heritage Mining on September 5, 2023, drilling has been completed at the Alcona target area and is now mobilizing to the New Millennium target area as part of a 3,600-meter Phase One diamond drill program over three priority target areas that also includes the historically high-grade Moretti target. New Millennium is a new target area, recently modeled for the first time, that has never been drilled previously but has returned very high-grade gold in grab samples. Exploration to date has confirmed mineralization along the central vein system and highlighted areas of higher grade, guiding the proposed drill plan at New Millennium.

The Drayton-Black Lake Project site is located in northwestern Ontario in the Abrams‐Minnitaki Lake Archean greenstone belt approximately 25km East of the town of Sioux Lookout, Ontario. Access and infrastructure are excellent, featuring direct road access, and proximity to rail and power. Heritage Mining compiled the significant project database as part of advancing the substantial exploration potential of the project including demonstrated high-grade gold in drill results and bulk samples across more than 30 kilometers of underexplored strike in a geologic setting that is shared with Treasury Metals’ adjacent development-stage Goliath Gold Complex project. Work since the 1990s has proven more than 14 million ounces of gold in the broader district in this emerging and highly active gold belt lead by New Gold’s Rainy River mine and other deposits, and Heritage is effectively applying geological models and exploration methods that have been successful elsewhere in the district.

Corporate Update

The Company announces that Susan Henderson has been appointed to the role of Corporate Secretary, effective immediately. Ms. Henderson has worked in expanding roles with Stillwater since 2016, most recently in the role of Business Manager. Ms. Henderson replaces Alicia Milne who has stepped down. Ms. Milne will continue as a consultant to the Company.

Michael Rowley, President and CEO of Stillwater Critical Minerals, stated, “Susan Henderson has been an essential part of our team in expanding roles since 2016 including most recently Business Manager, and we are pleased to expand that role further to include Corporate Secretary. We are very grateful to Alicia Milne for her excellent work as Corporate Secretary and her commitment to ongoing consulting work, and we wish her the very best with her new venture.”

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and a strategic investment by Glencore, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, delineates a compelling suite of critical minerals contained within five Platreef-style nickel and copper sulphide deposits at Stillwater West, which host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold, and remains open for expansion along trend and at depth.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

1 – Recovered Nickel Equivalents (“NiEq”) are presented for comparative purposes using conservative long-term metal prices (all USD): $8.00/lb nickel (Ni), $4.00/lb copper (Cu), $24.00/lb cobalt (Co), $1,000/oz platinum (Pt), $2,200/oz palladium (Pd), $1,800/oz gold (Au), and $10,000/oz rhodium (Rh). NiEq is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price/ Ni price] + [Co% x recovery x Co price / Ni price] + [Pt g/t x recovery / 31.103 x Pt price / Ni price / 2,204 x 100] + [Pd g/t x recovery / 31.103 x Pd price / Ni price / 2,204 x 100] + [Au g/t x recovery / 31.103 x Au price / Ni price / 2,204 x 100]. In the above calculations: 31.103 = grams per troy ounce, 2,204 = lbs per metric tonne, and 100 and 0.01 convert assay results reported in % and g/t. The following recoveries have been assumed for purposes of the above equivalent calculations: 85% for Ni and 90% for all other listed metals, based on recoveries at similar nearby operations.

Quality Control and Quality Assurance

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

Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101 for the Montana property, and he has reviewed and approved the technical disclosure contained in this news release.

Forward-Looking Statements

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

SOURCE: Stillwater Critical Minerals

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Base Metals Energy Junior Mining Precious Metals

Aya Gold & Silver Recognized as a Top Performer for Third Consecutive Year by the Toronto Stock Exchange

Post author By admin
Post date September 12, 2023

MONTREAL, Sept. 12, 2023 /CNW/ – Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) (“Aya” or the “Corporation”) reiterates its support to the people of Morocco following the tragic events from last week, as we continue to use local teams to offer assistance to those impacted.

Aya Gold & Silver Inc logo (CNW Group/Aya Gold & Silver Inc)

“We send our sincere condolences to the families of the victims and to the people of Morocco, in light of Friday’s earthquake,” said Benoit La Salle, President and CEO of Aya. “Aya stands with the people of Morocco at this difficult time and continues to offer regional support.”

Aya also announces that it has recently been recognized as a TSX30™ 2023 winner, by the Toronto Stock Exchange (“TSX”).

“We would like to note our gratitude for recently being recognized as a top performing company on the TSX, placing 14^th on the list. Aya is one of only two companies to achieve this milestone three years in a row, which reflects Aya’s ongoing exploration success, strong execution and dedication to sustainably grow silver production and deliver value for all stakeholders,” continued Benoit La Salle. “As we advance the Zgounder Silver Mine expansion, we are supported by a robust growth pipeline with both Zgounder and Boumadine to significantly grow resources. We continue to seek and support sustainability initiatives, making a commitment to a low-carbon strategy, health and safety and corporate social responsibility.

“More importantly, we would like to acknowledge our employees, contractors and stakeholders, including the government of Morocco as well as the entire investment community, whom have all played a critical role in our achievements to date.”

“The TSX30 is proud to recognize Aya Gold & Silver, who for the third consecutive year has made the ranking, demonstrating remarkable resilience even amid challenging economic conditions,” said Loui Anastasopoulos, CEO, Toronto Stock Exchange. “Two thirds of this year’s list is comprised of resources companies, demonstrating investors’ continued confidence in the mining sector and companies such as Aya.”

The TSX30™ 2023 list ranks the top-performing TSX stocks and is based on the average dividend-adjusted three-year price performance for the period ended June 30, 2023. Aya shares increased by 498%, ranking it 14th on the TSX30™ 2023 list. For more information on the 2023 TSX30™ rankings, visit www.tsx.com/tsx30.

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, the ongoing success of its exploration efforts, its continued strong execution in terms of its plans and projects, its capacity to grow its production of silver and deliver value (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as ” ongoing”, “grow”, “support”, “rapid”, 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 Aya’s efforts to deliver ongoing exploration results and success, its capacity to deliver strong operational results, its capacity to sustainably grow production and deliver stakeholder value, its capacity to deliver on its project pipeline, its capacity to maintain a certain grown rate, future opportunities for enhancing development at Zgounder, 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 and maintain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), the exploration results at its various exploration projects including Zgounder and Boumadine, silver price, exchange rates, fuel and energy costs, future economic and market 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), changes in geological interpretation, 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.

SOURCE Aya Gold & Silver Inc

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Base Metals Energy Junior Mining Precious Metals

West Red Lake Gold Drills 70.80 g/t Au over 8.3 m Including 1,120.19 g/t Au over 0.5 mat Rowan Property

Post author By admin
Post date September 12, 2023

Photo of Visible Gold

Figure 1. Impressive visible gold showing within intercept grading 1,120.19 g/t Au. Diamond drill core in this photo is NQ diameter (47.6 millimeters).

Rowan Project Section Locator Plan

FIGURE 2. Deposit-scale plan map of Rowan Mine Target area showing traces and intercepts for holes highlighted in this News Release.

Section 1: Looking Southwest

FIGURE 3. Rowan Mine drill section showing assay highlights for Hole RLG-23-163B[1]

Vein 101 Long Section Looking North

FIGURE 4. Rowan Mine longitudinal section for Vein 101 showing 2023 intercepts > 4 g/t Au. Assay highlights from current press release shown in red[1]

Rowan & Madsen Projects Location Map

VANCOUVER, British Columbia, Sept. 12, 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 following update from the 2023 exploration drilling program on its 100% owned Rowan Property located in the prolific Red Lake Gold District of Northwestern Ontario, Canada. Hole RLG-23-163B intersected 70.80 grams per tonne (“g/t”) gold (“Au”) over 8.3 metres (“m”), including 1,120.19 g/t Au over 0.5 m.

This hole represents the highest-grade intercept ever drilled across the Rowan Property and is a testament to the continued success our exploration team is achieving with the 2023 drilling campaign. The drill program at Rowan has already been expanded from 17,000 m to 25,000 m, and these results only further validate the team’s commitment to the Rowan asset.

HIGHLIGHTS:

Hole RLG-23-163B Intersected 8.3m @ 70.80 g/t Au in Vein Zone 101 from 387 m to 395.3 m, including 0.5 m @ 13.46 g/t Au from 389 m to 389.5 m, 0.5 m @ 1,120.19 g/t Au from 393.5 m to 394 m and 0.6 m @ 29.64 g/t Au from 394.7 m to 395.3 m.
This represents the highest-grade intercept ever drilled across the Rowan Property.
The location of the pierce point on Vein 101 represents one of the deeper intercepts drilled within the high-grade East Zone which could be indicating that the vein system is increasing in grade and thickness with depth.
The exploration team is immediately following up on this success to further define this extremely high-grade and thick portion of gold mineralization within the already impressive East Zone at Rowan.

2023-09-12-NR_Figure1_Photograph_Visible Gold

Figure 1. Impressive visible gold showing within intercept grading 1,120.19 g/t Au. Diamond drill core in this photo is NQ diameter (47.6 millimeters).

Shane Williams, President & CEO, stated, “There are very few places in the world where the geologic conditions exist to produce an intercept of this calibre, and the Red Lake district has demonstrated time and again that it is most definitely one of them. Our exploration team has already been immensely successful with the drilling program at the Rowan Mine target in 2023, and the spectacular drill results highlighted in this news release only emphasize the upside that still exists at Rowan. Our team is confident that we are only just starting to scratch the surface at Rowan with many more exciting discoveries to come.”

The high-grade mineralized vein zones encountered at the Rowan Mine target area (the “Rowan Mine Target”) continue to exceed expectations, confirm the geologic model, and further improve the existing high-grade (9.2 g/t Au) 827,462 ounce Inferred Mineral Resource at the Rowan Mine. Plan map and sections for the Rowan Mine drilling outlined in this release are provided in Figures 2 through 4.

TABLE 1. Significant intercepts (>4 g/t Au) from RLG-23-163B at the Rowan Mine Target.

Hole ID	Target	Zone	From (m)	To (m)	Thick (m)*	Au (g/t)
RLG-23-163B	Rowan Mine	V102	235	236	1	7.42
Incl.	Rowan Mine	V102	235.5	236	0.5	14.55
AND	Rowan Mine	V101	387	395.3	8.3	70.80
Incl.	Rowan Mine		389	389.5	0.5	13.46
Also Incl.	Rowan Mine		393.5	394	0.5	1,120.19
Also Incl.	Rowan Mine		394.7	395.3	0.6	29.64
AND	Rowan Mine	V101 (fw)	403	404	1	4.92

*The “From-To” intervals in Table 1 are denoting overall downhole length of the intercept. True thickness has not been calculated for these intercepts but is expected to be ≥ 70% of downhole thickness based on intercept angles observed in the drill core.

A total of 17,000 m of infill and expansion drilling was originally proposed for the Rowan Mine target in 2023. Based on the positive results received to date, the program has been expanded to 25,000 m and is expected to be completed by year end 2023. The additional drill meters will be used to continue de-risking the Rowan Mine resource, and test the growth potential down-plunge on the highest-grade portions of the resource. Current drilling at Rowan has only tested mineralization down to a depth of approximately 550 m. All of the high-grade zones still remain open below this vertical depth. The Red Lake Mining District is known to host orebodies that extend down to +4 kilometre (“km”) depth, which bodes well for the down-plunge growth potential at Rowan.

It is the Company’s belief that potential synergies could exist between high-grade resources at the Rowan Mine target area and Madsen. The Company has initiated a metallurgical study at Rowan to begin evaluating this potential opportunity, as well as a geotechnical study to better characterize the rock mass properties within the mineralized vein zones at Rowan.

In conjunction with infill and expansion drilling, the Company is also initiating the necessary baseline environmental and archaeological assessments to begin moving the project towards an Advanced Exploration Permit status.

2023-09-12_NR_Figure2_Rowan_Project_Section_Location Map

FIGURE 2. Deposit-scale plan map of Rowan Mine Target area showing traces and intercepts for holes highlighted in this News Release.

TABLE 2: Drill collar summary for hole reported in this News Release.

Hole ID	Target	Easting	Northing	Elev (m)	Length (m)	Azimuth	Dip
RLG-23-163B	Rowan Mine	422171	5657799	366	501	328	-66

DISCUSSION

The Rowan Mine Target consists of more than seven sub-parallel, near-vertical, east-west trending veins that are currently defined over a strike length of approximately 1.1 km– mineralization remains open along strike and at depth. The orientation of the veins at the Rowan Mine tend to follow the direction of D2 deformation, which is oriented in an east-west direction over this part of the property. Individual mineralized veins usually average 1.0 to 1.5 m in thickness, with an overall thickness of the Rowan vein corridor at around 115 m. Gold mineralization is typically localized within quartz-carbonate veins hosted within and along the ‘footwall’ margin of a porphyritic felsic intrusive, with increased grades often associated with the presence of visible gold and base metal sulphides (e.g. galena, sphalerite). High-grade dilation zones or ‘ore chutes’ along the Rowan vein trend have been recognized as important controls for localizing thicker and higher-grade zones of gold mineralization. The position and geometry of these dilation zones is well understood at Rowan.

The drilling completed at the Rowan Mine Target in 2023 has been focused on validating historical data across the Inferred Resource, and also infilling apparent gaps in the analytical data set which was a product of very selective sampling techniques implemented during previous drilling campaigns. Assay results received from the 2023 drilling program continue to confirm our thesis that quartz veining and gold mineralization continue at depth and along strike, with grades consistent with, or higher than those outlined in the current Inferred Mineral Resource which remains open in all directions. For example, the 100 Vein Zone – which is the furthest north vein currently modeled within the overall Rowan vein corridor – was previously interpreted to be a lower grade portion of the block model. Recent drilling has confirmed that higher grades are present within the 100 Vein Zone below 150 m elevation, suggesting that gold grades are increasing at depth within this zone which is a trend that has been observed elsewhere in the Red Lake district. Drilling at the Rowan Mine Target area will continue with an emphasis on infill and expansion of the existing high-grade mineral resource.

2023-09-12_NR_Figure3_Section1_RLG-23-163B

FIGURE 3. Rowan Mine drill section showing assay highlights for Hole RLG-23-163B^[¹^].

2023-09-12-NR_Figure4_LongSection_Vein_101

FIGURE 4. Rowan Mine longitudinal section for Vein 101 showing 2023 intercepts > 4 g/t Au. Assay highlights from current press release shown in red^[1^].

High resolution versions of all the figures contained in this press release can be found at the following web address: https://westredlakegold.com/september-12th-news-release-maps/.

Longitudinal sections showing all intercepts > 3 g/t Au on Veins 101, 102 and 103 can be viewed here: https://westredlakegold.com/august-1st-news-release-maps/.

QUALITY ASSURANCE/QUALITY CONTROL

Drilling completed at the Rowan Property consists of oriented NQ-sized diamond drill core. All drill holes are systematically logged, photographed, and sampled by a trained geologist at WRLG’s Mt. Jamie core processing facility. Minimum allowable sample length is 0.5 m. Maximum allowable sample length is 1.5 m. Standard reference materials and blanks are inserted at a targeted 5% insertion rate. The drill core is then cut lengthwise utilizing a diamond blade core saw along a line pre-selected by the geologist. To reduce sampling bias, the same side of drill core is sampled consistently utilizing the orientation line as reference. For those samples containing visible gold (“VG”), a trained geologist supervises the cutting/bagging of those samples, and ensures the core saw blade is ‘cleaned’ with a dressing stone following the VG sample interval. Bagged samples are then sealed with zip ties and transported by WRLG personnel directly to SGS Natural Resource’s Facility in Red Lake, Ontario for assay.

Samples are then prepped by SGS, which consists of drying at 105°C and crushing to 75% passing 2 mm. A riffle splitter is then utilized to produce a 500 g course reject for archive. The remainder of the sample is then pulverized to 85% passing 75 microns from which 50 g is analyzed by fire assay and an atomic absorption spectroscopy (AAS) finish. Samples returning gold values > 5 g/t Au are reanalyzed by fire assay with a gravimetric finish on a 50 g sample. Samples with visible gold are also analyzed via metallic screen analysis (SGS code: GO_FAS50M). For multi-element analysis, samples are sent to SGS’s facility in Burnaby, British Columbia and analyzed via four-acid digest with an atomic emission spectroscopy (ICP-AES) finish for 33-element analysis on 0.25 g sample pulps (SGS code: GE_ICP40Q12). SGS Natural Resources analytical laboratories operates under a Quality Management System that complies with ISO/IEC 17025.

West Red Lake Gold’s Rowan Property presently hosts a National Instrument 43-101 (“NI 43-101”) Inferred Mineral Resource of 2,790,700 t at an average grade of 9.2 g/t Au containing 827,462 ounces of gold with a cut-off grade of 3.8 g/t Au (NI 43-101 Technical Report authored by John Kita, P.Eng., dated December 13, 2022 and filed December 30, 2022 on www.sedar.com). The Inferred Mineral Resource is located in the area of the historic underground Rowan Mine site and situated within a 1.8 km strike length portion of the regional scale Pipestone Bay St Paul Deformation Zone.

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.

ON BEHALF OF WEST RED LAKE GOLD MINES LTD.

“Shane Williams”

Shane Williams
President & Chief Executive Officer

FOR FURTHER INFORMATION, PLEASE CONTACT:

Amandip Singh, VP Corporate Development
Tel: 416-203-9181
Email: investors@westredlakegold.com or visit the Company’s website at https://www.westredlakegold.com

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 9.2 g/t Au and using a gold price of US$1,600/oz. Please refer to the technical report entitled “Technical Report and Resource Estimate on the West Red Lake Project” dated December 13, 2022 prepared for WRLG by John Kita, P.Eng., and filed December 30, 2022 on www.sedar.com.

Photo accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/590e85ba-76b3-43b0-beb0-d2ea8e641f95

https://www.globenewswire.com/NewsRoom/AttachmentNg/c0e9e792-f872-4b73-9135-34667eb447cb

https://www.globenewswire.com/NewsRoom/AttachmentNg/99885981-8e64-4f22-85f4-15f2ed495ec8

https://www.globenewswire.com/NewsRoom/AttachmentNg/8983ed3c-f2d7-48f2-83c0-aabc1fd3b23d

https://www.globenewswire.com/NewsRoom/AttachmentNg/5d09c20e-b0c0-4808-a9e8-990cf877d87f

Base Metals Energy Junior Mining

Costa Fuego PEA Presentation – Precious Metal Summit – Beaver Creek

Post author By admin
Post date September 12, 2023

PERTH, Australia, Sept. 12, 2023 /PRNewswire/ – Hot Chili Limited (ASX: HCH) (TSXV: HCH) (OTCQX: HHLKF) (“Hot Chili” or the “Company”) is pleased to release an updated corporate presentation for the Precious Metals Summit being held in Bever Creek, Colorado between the 12^th and 15^th September 2023. Hot Chili’s Chairman, CEO and Executive Vice President of Chile will be attending the conference and presenting in a busy schedule of one-on-one meetings.

Hot Chili Limited Logo (CNW Group/Hot Chili Limited)

The presentation outlines the results of the Company’s recently completed Preliminary Economic Assessment (the “PEA”) for its Costa Fuego Copper-Gold Project (Costa Fuego or “the Project”), located 600 km north of Santiago, at low elevation (<1,000 m) in the coastal range of the Atacama Region, Chile.

The PEA was prepared in accordance with Canada’s Standards of Disclosure for Mineral Projects (“NI 43-101”) and has outlined one of the world’s lowest capital intensity, major copper developments.

To access the presentation please click on the link.

This announcement is authorised by the Board of Directors for release to ASX and TSXV.

Hot Chili’s Managing Director and Chief Executive Officer Mr Christian Easterday is responsible for this announcement and has provided sign-off for release to the ASX and TSXV.

For more information please contact:

Christian Easterday	Tel: +61 8 9315 9009

Managing Director – Hot Chili	Email: admin@hotchili.net.au

Penelope Beattie	Tel: +61 8 9315 9009

Company Secretary – Hot Chili	Email: admin@hotchili.net.au

Harbor Access	Email: graham.farrell@harbor-access.com

Investor & Public Relations (Canada)	Email: jonathan.paterson@harbor-access.com

Qualifying Statements

Disclaimer

Cautionary Note for U.S. Investors Concerning Mineral Resources

NI 43-101 is a rule of the Canadian Securities Administrators which establishes standards for all public disclosure an issuer makes of scientific and technical information concerning mineral projects. Technical disclosure contained in this news release has been prepared in accordance with NI 43-101 and the Canadian Institute of Mining, Metallurgy and Petroleum Classification System. These standards differ from the requirements of the U.S. Securities and Exchange Commission. (“SEC”) and resource information contained in this news release may not be comparable to similar information disclosed by domestic United States companies subject to the SEC’s reporting and disclosure requirements.

All amounts in this news release are in U.S. dollars unless otherwise noted.

Non IFRS Financial Performance Measures

“Total Cash Cost”, “All-in Sustaining Cost”, “All-in cost LOM”, “C1”, and “Free Cashflow” are not performance measures reported in accordance with International Financial Reporting Standards (“IFRS”). These performance measures are included because these statistics are key performance measures that management uses to monitor performance. Management uses these statistics to assess how the Costa Fuego Project compares against its peer projects and to assess the overall effectiveness and efficiency of the contemplated mining operations. These performance measures do not have a meaning within IFRS and, therefore, amounts presented may not be comparable to similar data presented by other mining companies. These performance measures should not be considered in isolation as a substitute for measures of performance in accordance with IFRS.

Forward Looking Statements

This news release contains certain statements that are “forward-looking information” within the meaning of Canadian securities legislation and Australian securities legislation (each, a “forward-looking statement”). Forward-looking statements reflect the Company’s current expectations, forecasts, and projections with respect to future events, many of which are beyond the Company’s control, and are based on certain assumptions. No assurance can be given that these expectations, forecasts, or projections will prove to be correct, and such forward-looking statements included in this news release should not be unduly relied upon. Forward-looking information is by its nature prospective and requires the Company to make certain assumptions and is subject to inherent risks and uncertainties. All statements other than statements of historical fact are forward-looking statements. The use of any of the words “believe”, “could”, “estimate”, “expect”, “may”, “plan”, “potential”, “project”, “should”, ‘toward”, “up-scale”, “will”, “would” and similar expressions are intended to identify forward- looking statements.

The forward-looking statements within this news release are based on information currently available and what management believes are reasonable assumptions. Forward-looking statements speak only as of the date of this news release. In addition, this news release may contain forward-looking statements attributed to third-party industry sources, the accuracy of which has not been verified by the Company.

In this news release, forward-looking statements relate, among other things, to: the Company’s timing and ability to enter into a definitive agreement with respect to the Option; the completion of the conditions to exercise the Option; receipt of all regulatory approvals in respect of the Option, including the approval of the TSXV; prospects, projections and success of the Company and its projects; the ability of the Company to expand mineral resources beyond current mineral resource estimates; the results and impacts of current and planned drilling to convert inferred mineral resources to indicated, to extend mineral resources and to identify new deposits; the Company’s ability to convert mineral resources to mineral reserves; opportunities for growth in mineral projects; the timing and outcomes of this current and future planned economic studies; the Company’s ability to up-scale the Project to 150,000 tpa of copper production; the timing and outcomes of regulatory processes required to obtain permits for the development and operation of the Costa Fuego Project as contemplated in the PEA and/or future planned economic studies; whether or not the Company will make a development decision and the timing thereof; the ability of the Company to consolidate additional landholdings around its Project; estimates of cost; the ability of the Company to complete the PFS on the timeline indicated or at all; and estimates of planned exploration, including the hydrogeological program at Cortadera and the Company’s planned 30,000m expansion drilling campaign across multiple exploration targets.

Forward-looking statements involve 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 statements. A number of factors could cause actual results to differ materially from a conclusion, forecast or projection contained in the forward-looking statements in this news release, including, but not limited to, the following material factors: the ability of the Company to complete the conditions to exercise the Option; obtaining all regulatory approvals for the completion of the Option; operational risks; risks related to the cost estimates of exploration; sovereign risks associated with the Company’s operations in Chile; changes in estimates of mineral resources of properties where the Company holds interests; recruiting qualified personnel and retaining key personnel; future financial needs and availability of adequate financing; fluctuations in mineral prices; market volatility; exchange rate fluctuations; ability to exploit successful discoveries; the production at or performance of properties where the Company holds interests; ability to retain title to mining concessions; environmental risks; financial failure or default of joint venture partners, contractors or service providers; competition risks; economic and market conditions; and other risks and uncertainties described elsewhere in this news release and elsewhere in the Company’s public disclosure record.

Although the forward-looking statements contained in this news release are based upon assumptions which the Company believes to be reasonable, the Company cannot assure investors that actual results will be consistent with these forward- looking statements. With respect to forward-looking statements contained in this news release, the Company has made assumptions regarding: future commodity prices and demand; availability of skilled labour; timing and amount of capital expenditures; future currency exchange and interest rates; the impact of increasing competition; general conditions in economic and financial markets; availability of drilling and related equipment; effects of regulation by governmental agencies; future tax rates; future operating costs; availability of future sources of funding; ability to obtain financing; and assumptions underlying estimates related to adjusted funds from operations. The Company has included the above summary of assumptions and risks related to forward-looking information provided in this news release to provide investors with a more complete perspective on the Company’s future operations, and such information may not be appropriate for other purposes. The Company’s actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom.

For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made herein, please refer to the public disclosure record of the Company, including the Company’s most recent Annual Report, which is available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. New factors emerge from time to time, and it is not possible for management to predict all those factors or to assess in advance the impact of each such factor on the Company’s business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.

The forward-looking statements contained in this news release are expressly qualified by the foregoing cautionary statements and are made as of the date of this news release. Except as may be required by applicable securities laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statement to reflect events or circumstances after the date of this news release or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. Investors should read this entire news release and consult their own professional advisors to ascertain and assess the income tax and legal risks and other aspects of an investment in the Company.

View original content to download multimedia:https://www.prnewswire.com/news-releases/costa-fuego-pea-presentation–precious-metal-summit–beaver-creek-301924535.html

SOURCE Hot Chili Limited

Base Metals Energy Junior Mining Precious Metals

Ridgeline Minerals Provides Drilling Update at the Selena CRD Project, Nevada

Post author By admin
Post date September 12, 2023

Vancouver, British Columbia–(Newsfile Corp. – September 12, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or the “Company“) is pleased to provide an update on the Company’s ongoing drill program at the Selena Project, Nevada (Figure 1). Selena is host to a silver (“Ag”) – gold (“Au”) – lead (“Pb”) – zinc (“Zn”) carbonate replacement (“CRD”) style discovery located in White Pine County, Nevada. The objective of the 3,000-meter (“m”) core program is to both infill the high-grade upper Chinchilla Zone (see July 24, 2023 press release HERE), as well as to test beneath the Chinchilla Zone for stacked sulfide horizons at depth (Figure 2). A summary of drilling progress is highlighted below.

Drill Program Summary

Drill hole SE23-046 was lost due to difficult drilling conditions at 126.8 m downhole with the bottom 7.3 m of the hole intersecting strongly brecciated and oxidized mineralization consistent with the top of the Chinchilla Zone (Figure 2).
- Assays of the truncated upper zone returned 7.3 m grading 64.2 grams per tonne (“g/t”) Ag, 0.8% Pb, 2.9% Zn and 0.1 g/t Au (Figure 3) or;
- 7.3 m grading 221.20 g/t silver equivalent (“AgEq”)

(Assumed metal prices $20 Ag, $0.90 Pb, $1.25 Zn, $1800 Au, no recovery factory applied).

Drill hole SE23-047 re-drilled SE22-046 to a depth of 200.1 m and intersected the same upper Chinchilla oxide horizon over a 50 m + thick intercept (assays pending) (Figure 2 & Figure 3).
- The thickness of the altered and mineralized zone in SE23-047 is consistent with nearby reverse circulation drilling in holes SE21-013 and SE21-14.

Drill hole SE23-048 is in progress and will be drilled to depths of 400-500m to test for deeper sulfide horizons within the historically untested lower Guilmette limestone (Figure 3)
The core program is tracking on-budget but running behind the originally proposed schedule due to mechanical delays associated with the drill rig, which have now been resolved.

Mike Harp, Ridgeline’s Vice President, Exploration commented, “We continue to be impressed by the continuity of mineralization at the Chinchilla Zone with hole 47 intersecting a thick, continuous zone of oxide mineralization that is visually consistent with nearby RC drillholes drilling during our 2021 program. We eagerly await assays from this shallower portion of the Chinchilla zone, which exhibits higher gold grades and exceptional continuity with mineralization currently open both up and down-dip.”

Mr. Harp continues, “Although drilling progress has been delayed by mechanical issues early in the program, we are now seeing consistent drill production as we test the bottom half of the highly prospective and historically untested lower Guilmette limestone. We have at least four more holes to complete with results to be released as they are received throughout the remainder of the program.”

Figure 1: Location of the 100% owned (39km²) Selena project adjacent to the Falcon Butte and Freeport-McMoRan Butte Valley joint venture to the west and NevGold’s Limousine Butte project to the north

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_002full.jpg

Figure 2: Plan view map showing silver equivalent grade-thickness contours of all Chinchilla zone drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_003full.jpg

Figure 3: Long Section C-C’ showing core holes SE23-046 to SE23-048 drilling the eastern edge of the Chinchilla Zone, which exhibits higher Au grades near surface. Three proposed drillholes will be drilled beneath and adjacent to SE22-045 to test for stacked CRD mineralization at depth

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/180328_24c42165044f9b1c_004full.jpg

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)

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 sent to 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 five 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/180328

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Category: Base Metals

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West Red Lake Gold Drills 70.80 g/t Au over 8.3 m Including 1,120.19 g/t Au over 0.5 mat Rowan Property

Costa Fuego PEA Presentation – Precious Metal Summit – Beaver Creek

Ridgeline Minerals Provides Drilling Update at the Selena CRD Project, Nevada

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