Proven Probable
In this interview we sit down with Shawn Khunkhun the CEO of Dolly Varden Silver (TSX.V: DV | OTCQX: DOLLF) to discuss the disconnect with Silver and Silver Equities, the latest news regarding more high-grade Silver results from the Homestake Silver Deposit, and the recent consolidation with addition of the Big Bulk Copper-Gold Porphyry Project.
Originally posted on the Decarbonization Channel. Subscribe to the free mailing list to be the first to receive decarbonization-related visualizations, with a focus on the U.S. power sector.
Nuclear power is among the safest and cleanest sources of electricity, making it a critical part of the clean energy transition.
However, nuclear waste, an inevitable byproduct, is often misunderstood.
In collaboration with the National Public Utilities Council, this graphic shows the volume of all existing nuclear waste, categorized by its level of hazardousness and disposal requirements, based on data from the International Atomic Energy Agency (IAEA).
Nuclear provides about 10% of global electricity generation.
Nuclear waste, produced as a result of this, can be divided into four different types:
Despite safety concerns, high-level radioactive waste constitutes less than 0.25% of total radioactive waste reported to the IAEA.
| Waste Class | Disposed (cubic meters) | Stored (cubic meters) | Total (cubic meters) |
|---|---|---|---|
| Very low-level waste | 758,802 | 313,882 | 1,072,684 |
| Low-level waste | 1,825,558 | 204,858 | 2,030,416 |
| Intermediate level waste | 671,097 | 201,893 | 872,990 |
| High-level waste | 3,960 | 5,323 | 9,283 |
Stored and disposed radioactive waste reported to the IAEA under the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management. Data is from the last reporting year which varies by reporting country, 2019-2023.
The amount of waste produced by the nuclear power industry is small compared to other industrial activities.
While flammable liquids comprise 82% of the hazardous materials shipped annually in the U.S., radioactive waste accounts for only 0.01%.
Original Source: https://elements.visualcapitalist.com/visualizing-all-the-nuclear-waste-in-the-world/
Burlington, Ontario–(Newsfile Corp. – January 23, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce as part of its ongoing transformation to a silver producing company, it has submitted and received approval for its mine training program from the Mine Safety and Health Association (“MSHA”), part of the United States Department of Labor. This MSHA approval covers the training program for both SBMI’s underground and surface operations. The approval process included three onsite inspections by MSHA and the completion by SBMI of a detailed safety operations program.
The field team in Arizona is currently attending the annual training program which will be completed this week, following which the field team intends to address any outstanding safety-related items, develop the silver higher-grade Zone1, and commence commercial operations.
For further information, please contact:
John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843
Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195306
Did you know nickel is required for the successful deployment of most new energy technologies?
Source: https://nickelinstitute.org/
Edmonton, Alberta–(Newsfile Corp. – January 22, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that, on January 19, 2024, it closed on a private placement (the “Offering”) by the issuance of 2,975,500 Units (as defined below) at a price of $0.05 per Unit for gross proceeds of $148,775.
Under the terms of the Offering, each Unit consisted of one common share of the Company (“Common Share”) and one half of one warrant (“Warrant”). Each whole Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.07 per Common Share and shall expire on the earlier of: (a) 30 days following written notice by the Issuer to the Subscriber that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) January 19, 2026.
The Company intends to use the proceeds from the Units for general working capital.
The Common Shares and any Common Shares issued on exercise of the Warrants are subject to restrictions on trading until May 20, 2024 in accordance with the policies of the TSX Venture Exchange.
Following closing of the Offering, the Company has 152,669,619 Common Shares issued and outstanding. The Offering is subject to Final Acceptance by the TSX Venture Exchange.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195112
KELOWNA, BC / ACCESSWIRE / January 18, 2024 / Diamcor Mining Inc. (TSX-V.DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), a well-established Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds announces that the Company intends to complete a convertible loan financing (the “Financing”) of up to CDN$2,000,000.00, and anticipates that an aggregate of approximately CDN$1,250,000.00 of the Financing will be subscribed to by existing larger shareholders and management of the Company. The financing will consist of unsecured convertible promissory notes (the “Notes”) having a term of two (2) years from the closing date and bearing interest at the rate of 15% per annum. During the first year, interest will accrue and be payable 12 months from the date of closing. No principal payments will be required until maturity. The principal amount of the Notes will be convertible at the election of the noteholder into Common Shares of the Company at any time up to the maturity date at the rate of CND$0.10 per share. As provided in Policy 5.2 of the TSX Venture Exchange Corporate Finance Policy Manual, interest will be convertible at the election of the noteholder into Common Shares of the Company at the Market Price as at the time of conversion of the interest.
In addition, subject to the exceptions noted below, the Company will issue non-transferable share purchase warrants to eligible participating investors, with each share purchase warrant entitling the holder thereof to purchase one (1) Common share of the Company at a price of CND$0.15 for a period of two (2) years from the date of issuance (the “Warrants”). The number of Warrants issuable to the eligible participating investors will be equal to the number of Common Shares into which the principal amount of the investor’s Note is convertible.
The proceeds from the Financing will be used for the continued advancement of efforts to increase processing volumes at the Company’s Krone-Endora at Venetia Project (the “Project”), the work programmes previously underway, the announced efforts surrounding drilling and bulk sampling on the greater portions of the Project, and for general corporate purposes. While the Company plans to continue ongoing discussions with financiers and industry-related parties on additional funding scenarios which may be beneficial in increasing long-term shareholder value and added growth, the Company will not be proceeding with the term loan financing of up to CND$5.0M previously announced on October 2, 2023.
For further detail on the Company’s future plans and its perspective on the diamond industry, please see the following in depth interview with Dean Taylor, chief executive officer of Diamcor.
Diamcor Update on the Diamond Industry and Company Focus for 2024 Forward
The Financing is subject to regulatory approval of the TSX Venture Exchange along with completion of all definitive documentation and filings as required. All securities issued pursuant to the above will be subject to a hold period of four months plus one day following the closing.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. With a long-term strategic alliance with world famous Tiffany & Co, the Company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About the Krone-Endora at Venetia Project
Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors:
Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com
For further information contact:
Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212
For Investor Relations contact:
Mr. Rich Matthews Mr. Neil Simon
Integrous Communications Investor Cubed Inc
rmatthews@integcom.us nsimon@investor3.ca
+1 (604) 355-7179 +1 (647) 258-3310
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Diamcor Mining Inc.
Edmonton, Alberta–(Newsfile Corp. – January 17, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce the first assay results for rock and soil samples collected from the newly acquired and staked mineral claims in the Beaverdell area of the Greenwood District. These are the first results from an initial exploration program conducted in the South Beaverdell target area within the Greenwood Precious and Battery Metals Project. In addition, results will also be forthcoming from additional prospecting and sampling in the Greenwood area and from recent work conducted at the Robocop Property following up on copper-cobalt anomalous soils identified in work over the last two years.
Highlights:
Brian Testo, President and CEO of Grizzly Discoveries, stated “We are excited with the new results to date from the new Beaverdell mineral claims and we are planning follow-up exploration including extensive soil and rock sampling programs along with ground geophysical surveys. Much of the newly acquired ground has seen little exploration and evaluation since the 1980’s. We also are looking forward to pursuing a number of high grade gold – silver – copper showings and historical mines with drilling in 2024 along with additional exploration for significant battery metal prospects in our current 165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!“
Figure 1: Initial 2023 Ag results rock & soil sampling – South Beaverdell Area, Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_002full.jpg
Figure 2: Historical – 2023 Ag results rock & soil sampling – South Beaverdell Area, Greenwood Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_003full.jpg
Figure 3. Sulphide (galena & sphalerite) mineralization from vein outcrop Gold Drop Claim.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_figure3.jpg.png
Figure 4. Main adit with quartz vein and sulphides at the Gold Drop Claim.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_006full.jpg
Figure 5: Historical – 2023 Au results rock & soil sampling – South Beaverdell Area, Greenwood Project
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_007full.jpg
Summary of 2023 Exploration at Greenwood:
An extensive rock and soil sampling program along with new geological mapping during 2023 has been completed in preparation for drilling at a number of locations in the Greenwood Area. Additional results should be forthcoming over the next month and will be presented in additional news releases.
Quality Assurance and Control
Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.
The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.
The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President
Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4
For further information, please visit our website at www.grizzlydiscoveries.com or contact:
Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194608
VANCOUVER, BC / ACCESSWIRE / January 17, 2024 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce significantly increased recovery of copper from oxide material at its Carmacks Copper-Gold-Silver project (“Carmacks Project” or the “Project“) was achieved through metallurgical studies conducted by Kemetco Research Inc. from (“Kemetco“).
The Company’s 2023 Preliminary Economic Assessment (“2023 PEA”) for the Project identified the opportunity to significantly increase net present value (“NPV”) by improving oxide recovery. Metallurgical testing completed on the project in support of the 2023 PEA showed that while a copper recovery of over 93% could be achieved via a well-established froth flotation technique for sulphide ore, only 39.8% copper recovery from oxide ore was achieved using the same process (see Table 1 for summary of flotation results). The current test results show a total recovery of 88% for oxide material is possible, an increase of 48% over the PEA base case (Tables 1 and 2). These results will have a significant impact on the economics for the project as the PEA identified an additional $180 M of NPV5% value by increasing life of mine average recovery for copper from 64% to 77%. With sulfide recoveries of 93.7% identified in the PEA and combined oxide recoveries (initial flotation + leaching and precipitate) of 88% the potential recoveries for copper are well above the 77% target level highlighted in the 2023 PEA.
The current mine plan as outlined in the 2023 PEA contemplates processing material with a high oxide content of up to 80% oxide ore in the first five years of the mine life. During this time over 8.4 million tonnes of oxide material would be processed versus 2.88 million tonnes of sulphide material. An increase in recovery of oxide material for the first five years of mine life, as demonstrated in these test results, would have a potentially very significant impact on project economics.
Kemetco Research Inc. was retained to complete testing on tailings produced in previous metallurgical work to develop a process for treating material that will have passed through the mill and still have significant oxide copper minerals present (See Figure 1 for simplified flow sheet). This laboratory test program showcased the efficacy of copper recovery from Carmacks copper oxide flotation tailings through a low-concentration acid leach at ambient temperature and pressure followed by chemical precipitation of copper minerals. The precipitation of copper sulphide (“CuS”) from the resulting leachate was shown to be an effective method of fully recovering the leached copper from solution, yielding a very high-grade CuS precipitate that would be added to the copper concentrate further increasing the copper grade of the high-quality concentrates from the project. For reference the PEA estimated an average concentrate grade of 40% copper with significant gold and silver credits.
Figure 1: Simplified Flow Sheet
Results of this testing are outlined below:
Table 1 Summary of flotation testing results and average values used in PEA.
| Recovery % | |||
| Sample | Cu | Au | Ag |
| Sulphide Sample Flotation1 | 93.7 | 69.0 | 78.4 |
| Oxide Sample Flotation2 | 39.8 | 57.5 | 37.4 |
| Total Oxide Recovery (Initial Flotation + Leach and Precipitate) | 88.0 | N/A | N/A |
| PEA LOM Base Case3 | 64.0 | 58 | 60 |
| PEA Target Case4 | > 77 | 58 | 60 |
Table 2 2023 – PEA Copper Recovery Sensitivity Table
| Copper Recovery Sensitivity | PEA BASE | Target1 | ||||
| Pre-Tax NPV (5-10% Discount) | Overall recovery | 51% | 58% | 64% | 70% | 77% |
| Sensitivity Range | 80% | 90% | 100% | 110% | 120% | |
| 5% | $136.6M | $231.3M | $324.1M | $416.6M | $509.6M | |
| 6% | $122.2M | $209.4M | $269.6M | $383.8M | $471.0M | |
| 7% | $107.3M | $189.4M | $271.5M | $353.6M | $453.6M | |
| 8% | $93.8M | $171.1M | $248.4M | $325.8M | $403.1M | |
| 9% | $81.4M | $154.3M | $227.3M | $300.2M | $373.2M | |
| 10% | $70.1M | $139.0M | $207.8M | $276.7M | $345.6M |
About the Carmacks Deposit:
The road accessible Carmacks deposits hosts a NI 43-101 resource consisting of 36.2 Mt M&I, grading 1.07% CuEq 0.81% Cu, 0.31 g/t Au, 3.41 g/t Ag (see news release January 19, 2023). The deposit was the subject of a positive PEA released in January 2023 that envision a 9-year mine life based on a mill capable of processing 7,000 t/d of combined oxide and sulfide ore. The resources are contained within three conceptual open pits and are open for expansion.
Contained Copper in Measured and Indicated Resources
147 Pit 280 Mlbs copper in oxide
126 Mlbs copper in sulfide
2000 Pit 10.5 Mlbs copper in oxide
51.3 Mlbs copper in sulfide
1213 Pit 35.4 Mlbs copper in oxide
122.3 Mlbs copper in sulfide
Tim Johnson, President & CEO stated, “The 2023 PEA, a major milestone for the Company, identified several opportunities for the Project including increased recovery, resource expansion and additional mine and process optimisation. The unlocking of additional value through the improved oxide recovery that this testing represents, especially in the early years of mine life, has the potential to add significantly to the NPV of the project. These results could allow for re-evaluation of resources that didn’t make it into the mine plan due to lower grades or assumed recoveries. The process being developed by the company also has the possibility of being used in other parts of the Minto Copper belt where oxidized or partially oxidized (POX) copper ores have not been processed by other operators.”
Corporate Update
Granite Creek announces the appointment of Susan Henderson as Corporate Secretary. In this role, Ms. Henderson will play a crucial role in overseeing and managing corporate governance matters, ensuring compliance with regulatory requirements, and serving as a key liaison between the company and its stakeholders. She brings her extensive experience in the mining industry, making her well-suited to contribute to Granite Creek’s continued success. The board and executive team are confident in her ability to navigate the complex landscape of corporate governance and provide valuable insights.
Qualified Persons
Mr. Douglas Warkentin, P.Eng., a Qualified Person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure related to metallurgical testing contained in this news release. Mr. Warkentin is a Senior Metallurgist with Kemetco Research and an advisor to the Company.
The NI 43-101 technical report entitled CARMACKS PROJECT PRELIMINARY ECONOMIC ASSESMENT (PEA) YUKON, CANADA, referenced in this news release is available on the company’s website as well as on SEDAR under the company’s profile.
2023 PEA: The Company cautions that the results of the PEA are preliminary in nature and do not include the calculation of mineral reserves as defined by NI 43-101. There is no certainty that the results of the PEA will be realized.
About Granite Creek Copper
Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company’s projects consist of its flagship 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Granite Creek Copper Ltd.
View the original press release on accesswire.com
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia, Jan. 17, 2024 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce additional assay results from the 2023 Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge polymetallic mineralization within its flagship Viogor-Zanik project in Bosnia and Herzegovina. The Company further announces closing of the final tranche of its non-brokered private placement financing (the “Offering”) of shares (the ”Shares”) for total gross proceeds of $212,200.
Highlights
Terra Balcanica CEO, Dr. Aleksandar Mišković, comments: “We are delighted to continue reporting impressive silver grades from the central Cumavici Ridge system. This polymetallic, near-surface target keeps on delivering and is open along strike and down-dip. Cumavici Ridge is only one of five target zones along the 7.2 km NW-SE trending fault-hosted system that remains to be drilled, thus offering upside to advance a deposit immediately adjacent to the existing Sase Pb-Zn-Ag mine with infrastructure including mining and processing facilities. We are excited to continue advancing Viogor-Zanik’s full potential as a unique critical raw minerals land package right at Europe’s doorsteps. Additional assay results will continue to be released very shortly.”
| Hole ID | From (m) | To (m) | Length (m) | Ag (g/t) | Au (g/t) | Pb (%) | Sb (%) | Zn (%) | AgEq (g/t) |
| CMV23002b | 22.00 | 25.80 | 3.80 | 125 | 0.70 | 2.72 | 0.48 | 5.53 | 499 |
| CMV23002b | 31.00 | 33.00 | 2.00 | 166 | 0.57 | 0.11 | 0.12 | 0.21 | 227 |
Table 1. Assay results from drillhole CMV23002b of the Phase II drilling campaign. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.
Figure 1. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023). Current drilling efforts confirm mineralization over 82 m NW/SE strike length. (WGS84/UTM Zone 34N (click here to view image).
| Hole ID | Easting | Northing | Elevation (m) | Dip | Azimuth | Depth (m) | Recovery (%) |
| CMV23002b | 360224.6 | 4888498.1 | 594.58 | -50 | 050 | 56.2 | 99 |
Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).
Future Exploration Program
Further drilling efforts at Cumavici Ridge will aim to connect the shallow high-grade interval reported in this release to the 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m reported over 600 m to the northwest (see Company news release dated 5th November 2023). The system remains untested and open to the southwest down-dip which will also be targeted in 2024 drilling.
Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay interval reported for CMV23002b (click here to view image).
QAQC
Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 9% and investigated as part of the company’s quality assurance and quality control program.
Final Tranche of Private Placement Financing Closed
The Company issued an additional aggregate of 1,200,000 Shares at a price of $0.04 per Share for gross proceeds of $48,000 pursuant to the Offering announced on December 1st, 2023.
In total, the Company has issued 5,305,000 Shares at a price of $0.04 for gross proceeds of $212,200. Terra will use the net proceeds of the Offering for working capital and to finance the acquisition of a strategic mineral exploration licence in Bosnia and Herzegovina. Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the final tranche of the Private Placement will be subject to a four (4) month hold period ending May 17th, 2024. There were no finders’ fees paid in any of the tranches of the Offering.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.
Qualified Person
Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.
About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp.
“Aleksandar Mišković”
Aleksandar Mišković
President and CEO
For further information, please contact Alex Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.
Cautionary Statement
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
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Timestamp:
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4:30 Have we reached capitulation
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9:28 Gold Grades and Cost Per Oz. for Inferred, Indicated, Measured, Proven and Probable
11:26 Investment Proposition for GoldShore Resources
13:12 Let’s go on-site
19:17 Updated MRE
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23:17 Next Unanswered Question
27:14 Capital Structure
28:55 Stock took a hit
30:40 Why you don’t sell because the stock price drops
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CEO: Brett Richards
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