Inside practically every electric vehicle (EV) is a lithium-ion battery that depends on several key minerals that help power it.
Some minerals make up intricate parts within the cell to ensure the flow of electrical current. Others protect it from accidental damage on the outside.
This infographic uses data from the European Federation for Transport and Environment to break down the key minerals in an EV battery. The mineral content is based on the ‘average 2020 battery’, which refers to the weighted average of battery chemistries on the market in 2020.
The Battery Minerals Mix
The cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals. This figure excludes materials in the electrolyte, binder, separator, and battery pack casing.
Mineral
Cell Part
Amount Contained in the Avg. 2020 Battery (kg)
% of Total
Graphite
Anode
52kg
28.1%
Aluminum
Cathode, Casing, Current collectors
35kg
18.9%
Nickel
Cathode
29kg
15.7%
Copper
Current collectors
20kg
10.8%
Steel
Casing
20kg
10.8%
Manganese
Cathode
10kg
5.4%
Cobalt
Cathode
8kg
4.3%
Lithium
Cathode
6kg
3.2%
Iron
Cathode
5kg
2.7%
Total
N/A
185kg
100%
The cathode contains the widest variety of minerals and is arguably the most important and expensive component of the battery. The composition of the cathode is a major determinant in the performance of the battery, with each mineral offering a unique benefit.
For example, NMC batteries, which accounted for72% of batteries used in EVs in 2020 (excluding China), have a cathode composed of nickel, manganese, and cobalt along with lithium. The higher nickel content in these batteries tends to increase their energy density or the amount of energy stored per unit of volume, increasing the driving range of the EV. Cobalt and manganese often act as stabilizers in NMC batteries, improving their safety.
Altogether, materials in the cathode account for 31.3% of the mineral weight in the average battery produced in 2020. This figure doesn’t include aluminum, which is used in nickel-cobalt-aluminum (NCA) cathode chemistries, but is also used elsewhere in the battery for casing and current collectors.
Meanwhile, graphite has been the go-to material for anodes due to its relatively low cost, abundance, and long cycle life. Since the entire anode is made up of graphite, it’s the single-largest mineral component of the battery. Other materials include steel in the casing that protects the cell from external damage, along with copper, used as the current collector for the anode.
Minerals Bonded by Chemistry
There are several types of lithium-ion batteries with different compositions of cathode minerals. Their names typically allude to their mineral breakdown.
Here’s how the mineral contents differ for various battery chemistries with a 60kWh capacity:
With consumers looking for higher-range EVs that do not need frequent recharging, nickel-rich cathodes have become commonplace. In fact, nickel-based chemistries accounted for 80% of the battery capacity deployed in new plug-in EVs in 2021.
Lithium iron phosphate (LFP) batteries do not use any nickel and typically offer lower energy densities at better value. Unlike nickel-based batteries that use lithium hydroxide compounds in the cathode, LFP batteries use lithium carbonate, which is a cheaper alternative. Tesla recently joined several Chinese automakers in using LFP cathodes for standard-range cars, driving the price of lithium carbonate to record highs.
The EV battery market is still in its early hours, with plenty of growth on the horizon. Battery chemistries are constantly evolving, and as automakers come up with new models with different characteristics, it’ll be interesting to see which new cathodes come around the block.
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TORONTO, Feb. 8, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) will be presenting at the OTC Markets Group Precious Metals Virtual Investor Conference on Wednesday, February 15, 2023, at 11:00am ET.
Using the link below, investors can register and listen to the presentation, and take part in a question and answer session at the end. The presentation is expected to last 30 minutes.
DATE: Wednesday, February 15, 2023 TIME: 11:00am ET – 11:30am ET LINK:https://bit.ly/3JCTs89
Please log in 5-10 minutes early to register. An archived webcast will also be made available after the event.
Ari Sussman, Executive Chairman of Collective Mining will be providing an overview and will discuss the Company’s “Main Breccia” discovery at the Apollo target. The Main Breccia discovery is a high-grade and bulk tonnage, copper-silver-gold porphyry-related breccia system characterized by two main, yet distinct pulses of mineralized fluids flooding the breccia with metals.
The Company’s Guayabales project is located in the mining-friendly department of Caldas, Colombia, in the heart of a long-established mining camp with ten fully permitted and operating mines located within three kilometres of the project. As a result, the Guayabales project is blessed with excellent infrastructure with roads and hydroelectric powerlines traversing the project and an abundant labour force located nearby in the townships of Supia and Marmato.
The phase II drilling program is underway with three rigs currently operating focused on testing near surface mineralization and expanding the dimensions of the Main Breccia system. Assay results are expected in the near term for the final three holes of the 2022 program, including westwards step-out hole APC-28, which cut more than 600 metres of continuous mineralization. Additionally, the first hole of the Phase II program is now complete, and core has been dispatched to the lab for assaying.
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own approximately 52% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
Information Contact:
Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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TORONTO, Feb. 6, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce the Company had a recent opportunity to host the new Vice Minister of Mines of Colombia, Giovanni Franco, at its operation facilities in Supia, Colombia. The Vice Minister was visiting the region as part of the Ministry of Mines and Energy’s Social Mining Forum, which is a communication-based platform to discuss mining between the Ministry and municipalities.
During the visit, the Company had the opportunity to present its “Collective” model to mining, which is based on honesty, transparency, education and open dialogue with its stakeholders. The Company reviewed in detail its business and social approach within the area of influence of the Guayabales and San Antonio projects as it relates to various sustainability initiatives and exploration methodologies.
Upon completion of the visit, the Vice Minister of Mines recorded a short video summarizing his thoughts, which includes the following statement:
“What we see in the advances made by Collective Mining over the past three years is what we would like to have in Colombia. We wish to have 10, 50, 100 companies like Collective Mining all around Colombia to improve the geoscientific knowledge of the country, to improve the understanding of the subsoil resources that we have in Colombia to define public policies to improve the extraction of our subsoil resources.”
Please click on the link below to watch the full two-minute video testimony of the Vice Minister of Mines: https://youtu.be/-Ak3a_HJiPE
Figure 1 – Vice Minister of Mines Engaging with the Collective Mining Team in our Core Shack in Supía, Colombia (CNW Group/Collective Mining Ltd.)
About Collective Mining Ltd. To see our latest corporate presentation and related information, please visit www.collectivemining.com.
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
Information Contact:
Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Widths of Mineralized System Expanded Significantly
Vancouver, British Columbia–(Newsfile Corp. – February 2, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Lake Gold Project“).
Highlights:
Hole MMD-22-063 has confirmed the presence of high-grade mineralization within the previously perceived low grade and low tonnage Southwest Zone and shown the zone to be almost 300 meters wide. Best intercepts include:
1.60 g/t Au over 57.5m from 230.5m depth in MMD-22-063 including:
9.46 g/t Au over 7.45m from 234.0m
1.18 g/t Au over 18.25m from 387.75m
Results for thirteen holes drilled to explore the northern and southern flanks of the mineralized shear zone system in the Main Zone have expanded the cumulative width of multiple, close-spaced, high-grade gold shears by 150-200 meters to over 550 meters at the Main Zone with best intercepts of:
0.93 g/t Au over 126.0m from 467.0m depth in MMD-22-059 including:
1.64 g/t over 48.0m from 513.0m
3.67 g/t Au over 13.65m from 612.35m
1.05 g/t Au over 34.0m from 257.0m depth in MMD-22-088 including:
1.51 g/t Au over 15.0m from 276.0m
1.84 g/t Au over 14.95m from 483.05m
President and CEO, Brett Richards, stated: “These results once again support our thesis that the size and scale of the Moss Lake Gold Project will be large enough to support a material and meaningful update to the mineral resource estimate (“MRE”) in April 2023, followed by a preliminary economic assessment (“PEA”) on the updated resource. We continue to find additions to the resource on step out holes laterally and along strike from the historic resource profile, and we look to continue to explore the impact of these additions to the resource model, as well as guiding us in future drill targets.”
Technical Overview
Figure 1 shows the better intercepts in plain view and Figure 2 is a typical section through hole MMD-22-063. Table 1 shows the significant intercepts. Table 2 shows the drill hole locations.
Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to the current Mineral Resource and highlighting the additional shears.
Figure 2: Drill section through MMD-22-063 relative to the current Mineral Resource and highlighting the additional shears and potential to significantly deepen the open pit shell.
Results have been received for MMD-22-063, which was the final hole from the first pass drill pattern at the Southwest Zone. The hole infills two previous holes and has shown that there is continuity to the high-grade core of the zone. In addition to the high-grade lenses highlighted above, the hole also intersected multiple lenses of lower grade mineralization throughout the hole including 0.58 g/t Au over 23.2m from 27.9m, 0.81 g/t Au over 20.6m from 355m, and 0.55 g/t Au over 7.95m from 417.05m. These confirm the increased tonnage potential in the Southwest Zone with mineralization above the low-grade cutoff of 0.40 g/t Au used for the current mineral resource estimate over a zone that is almost 300 meters wide.
A second pass drill pattern over the Southwest zone was completed in January, infilling the newly discovered high-grade shears and exploring for additional shears.
Results have also been received for thirteen holes that have explored the edges of the Main Zone on its northern and southern flanks. Six holes targeted the northern side of the shear system, and seven holes targeted the southern side. These holes intersected high-grade shears over a zone that is 200 meters wider than previously understood, making the main zone over 550 meters wide at its widest point.
As with the center of the Main Zone, these shears lie within broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 0.84 g/t Au over 37m from 608m in MQD-22-058; 0.33 g/t Au over 35.65m from 231.35m, 0.42 g/t Au over 34m from 273m and 0.86 g/t Au over 126m from 467m in MMD-22-059; 0.58 g/t Au over 75m from 543.5m in MMD-22-060; 0.91 g/t Au over 33m from 257m in MMD-22-088; 0.58 g/t Au over 75m from 422m in MMD-22-089; 0.39 g/t Au over 40.5m from 453.8m in MQD-22-091; and 0.72 g/t Au over 15m from 207 in MMD-22-095.
The shears in the north and south were sparsely drilled by historical drill holes and represent opportunity to potentially expand the mineral resource and to properly understand the mineralizing system.
A detailed review of current and previous high-grade intercepts has identified various gold, silver, and bismuth bearing tellurides across all three zones of the Moss Lake Gold Project deposit. The tellurides have been located within pyrite±-chalcopyrite bearing quartz-chlorite-carbonate veins and sulphide-rich hydrothermal breccias previously identified in the vein paragenesis to be emplaced near the end of deformational history. Identifying and outlining the late structural events will allow for enhanced targeting of the high-grade portions of Moss Lake Gold Project and will assist in refining generative targets by focusing on preferred horizons for these structures to occur.
Figure 3: Tellurides identified at 234.1m of MQD-21-009 within a py+cpy bearing undulating qt+ch±cb shear vein. The sample yielded 39.7g/t Au, 73.7g/t Ag, 63.5g/t Te over 0.9m.
Pete Flindell, VP Exploration for Goldshore, said, “The high-grade drill results in the Southwest Zone provide confidence that this area has significant resource potential. The results along the northern and southern flanks of the Main Zone also represent a significant expansion to the width of the mineralized zone, which should assist our goal of potentially expanding the mineral resource and improving its quality in early Q2.”
Table 1: Significant downhole gold intercepts
HOLE ID
FROM
TO
LENGTH (m)
TRUE WIDTH (m)
CUT GRADE (g/t Au)
UNCUT GRADE (g/t Au)
MMD-22-058
314.00
321.00
7.00
4.1
0.41
0.41
374.90
392.30
17.40
10.3
0.36
0.36
466.00
468.30
2.30
1.4
0.38
0.38
491.70
505.00
13.30
8.1
0.39
0.39
517.00
519.00
2.00
1.2
0.35
0.35
553.45
574.45
21.00
13.3
0.37
0.37
593.00
595.00
2.00
1.3
0.37
0.37
608.00
645.00
37.00
23.9
0.87
0.87
including
614.00
621.00
7.00
4.5
1.40
1.40
and
628.00
636.00
8.00
5.2
1.04
1.04
and
641.00
645.00
4.00
2.6
1.54
1.54
MMD-22-059
231.35
307.00
75.65
51.8
0.36
0.36
including
236.00
239.20
3.20
2.2
1.01
1.01
and
280.00
284.00
4.00
2.7
1.45
1.45
342.00
348.00
6.00
4.2
0.36
0.36
361.00
392.00
31.00
22.0
0.36
0.36
467.00
593.00
126.00
92.3
0.93
0.93
including
475.60
484.70
9.10
6.6
1.50
1.50
and
504.65
509.30
4.65
3.4
1.08
1.08
and
513.00
561.00
48.00
35.3
1.64
1.64
612.35
626.00
13.65
10.2
2.56
3.67
MMD-22-060
95.20
102.00
6.80
3.5
0.40
0.40
336.95
346.00
9.05
5.1
0.31
0.31
361.10
379.00
17.90
10.2
0.70
0.70
including
364.00
368.10
4.10
2.3
2.14
2.14
475.80
481.10
5.30
3.1
0.39
0.39
543.50
569.00
25.50
16.1
0.79
0.79
584.00
592.15
8.15
5.2
0.46
0.46
MMD-22-061
113.55
121.00
7.45
3.9
0.30
0.30
125.25
130.00
4.75
2.5
0.31
0.31
213.00
216.40
3.40
1.9
0.38
0.38
234.95
237.00
2.05
1.1
0.46
0.46
331.65
343.30
11.65
6.7
0.58
0.58
449.00
455.10
6.10
3.6
0.39
0.39
460.00
462.00
2.00
1.2
0.64
0.64
570.00
593.00
23.00
14.5
0.31
0.31
MMD-22-063
27.90
51.10
23.20
15.0
0.58
0.58
including
39.00
41.95
2.95
1.9
1.45
1.45
165.00
169.00
4.00
2.7
0.53
0.53
230.50
288.00
57.50
42.0
1.60
1.60
including
234.00
241.45
7.45
5.4
9.46
9.46
328.00
330.00
2.00
1.5
0.89
0.89
355.00
375.60
20.60
15.5
0.81
0.81
including
357.00
360.00
3.00
2.2
3.57
3.57
and
373.00
375.60
2.60
2.0
1.28
1.28
387.75
406.00
18.25
13.8
1.18
1.18
417.05
425.00
7.95
6.0
0.55
0.55
544.00
546.00
2.00
1.6
0.31
0.31
MMD-22-068
17.15
23.00
5.85
2.9
0.34
0.34
307.00
327.00
20.00
11.8
0.42
0.42
337.10
341.40
4.30
2.5
0.45
0.45
347.95
350.55
2.60
1.5
0.44
0.44
361.00
376.00
15.00
9.0
0.61
0.61
including
370.00
373.00
3.00
1.8
1.78
1.78
570.40
581.30
10.90
7.1
0.32
0.32
625.55
672.00
46.45
31.3
0.35
0.35
MMD-22-069
57.00
63.00
6.00
3.3
0.77
0.77
266.50
276.00
9.50
6.5
0.52
0.52
525.00
530.00
5.00
3.5
0.35
0.35
540.15
545.00
4.85
3.4
0.45
0.45
567.00
569.95
2.95
2.1
0.61
0.61
581.90
588.20
6.30
4.5
0.32
0.32
MMD-22-071
629.85
633.80
3.95
3.0
0.45
0.45
MMD-22-084
194.00
213.15
19.15
14.9
0.53
0.53
including
198.00
203.00
5.00
3.9
1.32
1.32
229.00
231.00
2.00
1.6
0.47
0.47
255.00
258.50
3.50
2.8
1.74
1.74
292.55
294.55
2.00
1.6
0.43
0.43
399.00
403.65
4.65
3.8
0.96
0.96
MMD-22-088
55.25
58.05
2.80
2.0
0.31
0.31
111.00
115.55
4.55
3.3
0.31
0.31
149.00
166.00
17.00
12.8
0.45
0.45
179.00
186.00
7.00
5.3
0.41
0.41
209.70
222.00
12.30
9.4
0.46
0.46
257.00
291.00
34.00
26.3
1.05
1.05
including
276.00
291.00
15.00
11.6
1.51
1.51
432.00
434.00
2.00
1.6
0.46
0.46
444.95
468.10
23.15
18.5
0.32
0.32
483.05
498.00
14.95
12.0
1.84
1.84
including
483.05
496.00
12.95
10.4
2.04
2.04
MMD-22-089
302.10
309.00
6.90
5.1
0.63
0.63
including
307.00
309.00
2.00
1.5
1.30
1.30
321.00
334.80
13.80
10.3
0.34
0.34
390.00
392.00
2.00
1.5
0.41
0.41
422.00
497.00
75.00
58.4
0.59
0.59
including
431.00
433.00
2.00
1.5
3.66
3.66
and
444.00
456.00
12.00
9.3
1.05
1.05
and
478.00
488.00
10.00
7.8
1.19
1.19
MMD-22-091
153.70
162.55
8.85
6.1
0.53
0.53
201.00
206.95
5.95
4.2
0.42
0.42
363.55
378.00
14.45
10.7
0.32
0.32
397.00
401.55
4.55
3.4
0.45
0.45
453.80
494.30
40.50
30.8
0.41
0.41
MMD-22-093
473.25
481.00
7.75
6.0
0.61
0.61
496.00
512.80
16.80
13.2
0.44
0.44
including
509.25
512.80
3.55
2.8
1.05
1.05
523.00
525.25
2.25
1.8
3.04
3.04
551.00
555.20
4.20
3.3
0.32
0.32
587.20
606.20
19.00
15.1
0.33
0.33
617.40
620.55
3.15
2.5
0.33
0.33
628.00
630.80
2.80
2.2
0.56
0.56
MMD-22-095
161.20
167.45
6.25
4.4
1.10
1.10
including
163.00
165.00
2.00
1.4
2.41
2.41
186.30
190.00
3.70
2.6
0.33
0.33
207.00
222.00
15.00
10.7
0.72
0.72
including
211.65
215.05
3.40
2.4
1.56
1.56
267.00
276.00
9.00
6.5
0.46
0.46
including
274.00
276.00
2.00
1.4
1.61
1.61
373.60
376.15
2.55
1.9
0.44
0.44
412.50
418.00
5.50
4.1
0.71
0.71
Intersections calculated above at 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Bordered intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.
Table 2: Location of drill holes in this press release
HOLE
EAST
NORTH
RL
AZIMUTH
DIP
EOH
MMD-22-058
668,743
5,379,407
454
153°
-60°
645.00
MMD-22-059
668,819
5,379,436
439
154°
-50°
648.00
MMD-22-060
668,909
5,379,474
436
155°
-60°
600.05
MMD-22-061
669,091
5,379,558
448
155°
-60°
600.00
MMD-22-063
668,481
5,378,460
439
148°
-50°
563.00
MMD-22-068
669,177
5,379,614
455
154°
-60°
699.10
MMD-22-069
669,254
5,379,629
445
151°
-59°
600.00
MMD-22-071
669,077
5,378,242
432
335°
-51°
648.00
MMD-22-084
668,973
5,378,574
428
337°
-45°
414.15
MMD-22-088
669,031
5,378,642
431
336°
45°
498.00
MMD-22-089
668,972
5,378,560
428
314°
-51°
497.90
MMD-22-091
669,172
5,378,762
431
332°
-49°
494.30
MMD-22-093
669,018
5,378,463
430
289°
-50°
651.00
MMD-22-095
669,090
5,378,690
428
345°
-45°
420.00
Approximate collar coordinates in NAD 83, Zone 15N
Analytical and QA/QC Procedures
All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).
In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.
About Goldshore
Goldshore is an emerging junior gold development company, and owns 100% of the Moss Lake Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an approximate 22% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information – Please Contact:
Brett A. Richards President, Chief Executive Officer and Director Goldshore Resources Inc.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this news release include, among others, statements relating to: expectations regarding the exploration and development of the Moss Lake Gold Project; an updated mineral resource estimate and the timing thereof; completion of a PEA and the timing thereof, and other statements that are not historical facts.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Burlington, Ontario–(Newsfile Corp. – January 31, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to update the assay results from its Black Copper occurrence, reported earlier on January 31, 2023.
In SBMI’s January 17, 2023 press release, SBMI advised third part geologic consultants including the QP had visited the Black Copper occurrence in late November and early December, 2022. Black Copper is situated on SBMI’s Black Diamond property roughly one point five kilometres south of the Buckeye Mine and is referred to in the January, 2021 Geologic Report. Samples from Black Copper were taken and reported the following results:
Sample number
Au (ppb)
Cu ppm
342151
615
>1000
342152
192
>1000
342153
941
>1000
342154
654
>1000
The over-detection limit for copper on these samples was 1000 parts per million. These four samples were sent for further analysis which returned:
Sample number
Cu ppm
Cu %
342151
22400
2.24
342152
37400
3.740
342153
34000
3.400
342154
54900
5.490
The press release from earlier today incorrectly stated the values in parts per million as a result of manual data entry into the press release. A copy of the Actlabs certificates for these samples is attached.
QAQC For SBMI
All the samples above were collected by Robert Komarechka and John Corkery. Samples were collected and placed in sample bags with their appropriate tag and personally taken to the courier and shipped to Actlabs in Thunder Bay, Ontario for assaying. Certified standards and blanks were used both by the Company and Actlabs.
All samples analyzed by Actlabs were by Fire Assay ICPOES (Induced coupled plasma arc with optical emission spectroscopy).
The multi-element analysis was by digestion with a combination of hydrochloric, nitric, perchloric and hydrofluoric acids.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.
With respect to the Company’s press release concerning seeking an extension of the Warrants (as that term is defined in that release), SBMI advises it is seeking an extension on a total of 8,528,081 Warrants with new expiry dates ranging from February 6, 2024 to July 8, 2024.
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.
Burlington, Ontario–(Newsfile Corp. – January 31, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to report results from its Buckeye Mine development, ongoing PGM (platinum group metals) study, assay results from its Black Copper occurrence and the discovery of a new gold occurrence on its Black Diamond Property.
Development drift intersecting a wall of sulphides at the Buckeye Mine, Jan. 28, 2023
As of this date, the development drift at the Buckeye Mine has advanced about 116 metres from the adit alongside the main vein with ongoing bolting and screening.
In its January 17, 2023 press release, the Company advised it “…next intends to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021).” However, the Company believes it may have intercepted that area of higher grade mineralization sooner than expected.
Approximately 1 metre before turning into the anticipated intersection with the main vertical vein, a 0.6 metre thick horizontal fracture zone was encountered that contained bands of massive sulphides. Horizontal sulphide bands were also noted by the QP for this press release in the Treasure Room along with paper thin layers of high purity native silver, similar to the bands in the newly discovered fracture zone. While the Company expected to locate the area of higher grade mineralization, the placement of this 0.6 metre wide area of sulphide mineralization was a positive surprise to the Company.
A blast in the drift on January 27, 2023 exposed another wall of sulphides at the end of the drift. These sulphides were also encountered sooner than the Company expected. Samples of the sulphide material are being prepared to be sent for assaying and further petrographic examination.
Regarding the earlier reported PGM assays and as previously reported, check assay samples have been sent to three independent certified labs. SBMI is awaiting complete reporting of the assays from the three labs. In addition to these check assays, the Company has contracted Dr. Andy McDonald, Mineralogist, of the Harquail School of Earth Sciences, at Laurentian University in Sudbury, Ontario, Canada, to undertake sample preparation, petrographic and scanning electron microscope examination of two samples derived from the Buckeye Mine.
The first sample being analyzed by Dr. McDonald was taken by the QP in November, 2022. It was diabase from the floor of the Treasure Room of the Buckeye Mine containing a silvery ductile mineral, subsequently confirmed by Dr. McDonald to be high purity native silver. When this sample was examined with an uncalibrated handheld X-ray fluorescent unit, the presence of palladium at 29 and 21 parts per million was noted. The second sample provided to Dr. McDonald was a malformed dore bar poured by SBMI in September, 2022 derived from the Buckeye Mine, containing highly refractory “unknown material.”
Native silver in diabase rock sample collected from the floor of the Treasure Room, Buckeye Mine
Also in SBMI’s January 17, 2023 press release, SBMI advised third part geologic consultants including the QP had visited the Black Copper occurrence in late November and early December, 2022. Black Copper is situated on SBMI’s Black Diamond property roughly one point five kilometres south of the Buckeye Mine and is referred to in the January, 2021 Geologic Report. Samples from Black Copper were taken and reported the following results:
Sample number
Au (ppb)
Cu ppm
342151
615
>1000
342152
192
>1000
342153
941
>1000
342154
654
>1000
The over-detection limit for copper on these samples was 1000 parts per million. These four samples were sent for further analysis which returned:
Sample number
Cu ppm
Cu %
342151
2240
2.24
342152
3740
3.740
342153
3400
3.400
342154
5490
5.490
In addition, during this geological study, an area of broken rusty quartz float was observed by the QP near the trail to the Richmond Basin to the west of the McMorris and Buckeye Mines. This is the Company’s first testing of this area. These quartz fragments appeared to be segments of narrow quartz veins containing sulphides. Due to a soil cover of a few inches to a foot in this area, limited time prevented exposure of the underlying bedrock. Four samples were collected from surface and yielded the following gold assays:
Sample number
Au (ppb)
Bi (ppm)
342109
17
2
342110
4450
412
342111
64
1600
342112
7
16
A bismuth assay of 1600 ppm and a silver assay over 100 ppm was recorded in sample 342111. The QP of this press release highly recommends further evaluation of this new gold occurrence.
Sample 342110 assayed 4.45 g/t Au. from the new gold occurrence.
All the samples above were collected by Robert Komarechka and John Corkery. Samples were collected and placed in sample bags with their appropriate tag and personally taken to the courier and shipped to Actlabs in Thunder Bay, Ontario for assaying. Certified standards and blanks were used both by the Company and Actlabs.
All samples analyzed by Actlabs were by Fire Assay ICPOES (Induced coupled plasma arc with optical emission spectroscopy).
The multi-element analysis was by digestion with a combination of hydrochloric, nitric, perchloric and hydrofluoric acids.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.
With respect to the Company’s press release concerning seeking an extension of the Warrants (as that term is defined in that release), SBMI advises it is seeking an extension on a total of 8,528,081 Warrants with new expiry dates ranging from February 6, 2024 to July 8, 2024.
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.
Drill hole APC-29 intercepted the highest grade near-surface copper-silver-gold mineralization encountered to date at the Main Breccia system at the Apollo target (“Apollo”) yielding 32 metres @ 10.48 g/t gold equivalent from 80 metres vertical. This hole was designed to test directly below where the Main Breccia system daylights at surface in the southern part of the system and to follow up on recently announced results for hole APC-22, which intersected 47.25 metres @ 5.45 g/t gold equivalent (see press release dated January 11, 2023). Further down-hole in APC-29, a broad zone of mineralization was encountered averaging 214.4 metres @ 1.04 g/t gold equivalent. APC-29 had to be abandoned short of target depth due to a fault while still in mineralization with the final 0.5 metre sample assaying 1.72 g/t gold, 39 g/t silver and 0.1% copper.
Drill hole APC-25 was designed as a step out hole along strike of the near surface high-grade zone of mineralization and intersected 106.85 metres @ 2.31 g/t gold equivalent starting at 65 metres vertical below surface. As a result, APC-25 has confirmed a shallow, westward expansion to the Main Breccia system and an apparent thickening to the high-grade near surface mineralized zone as the system is traced to the west.
Hole APC-26 was drilled to the northeast from Pad 4 and confirmed continuity of mineralization in that direction returning 136.9 metres @ 1.51 g/t gold equivalent contained within 311.2 metres at 1.04 g/t gold.
The phase II drilling program is underway with three rigs currently operating focused on testing near surface mineralization and expanding the dimensions of the Main Breccia system. Assay results are expected in the near term for the final three holes of the 2022 program, including westwards step-out hole APC-28, which cut more than 600 metres of continuous mineralization. Additionally, the first hole of the Phase II program is now complete, and core has been dispatched to the lab for assaying.
Ari Sussman, Executive Chairman commented: “Not only is the Main Breccia system at Apollo a large, bulk tonnage deposit but it now appears to host an outcropping and shallow zone of high-grade mineralization, which clearly enhances the value of this exciting discovery. Based on surface sampling, the system appears to daylight over an area measuring approximately 150 metres in diameter and remains open for expansion. The Main Breccia system is truly evolving into a brand-new world-class discovery right in the heart of a prolific mining camp with continuous precious metal production dating back more than 500 years.”
TORONTO, Jan. 31, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from a further three holes drilled into the Main Breccia discovery at the Apollo target (“Apollo”), which is part of the Guayabales project located in Caldas, Colombia. The Main Breccia discovery is a high-grade, bulk tonnage copper-silver-gold porphyry-related system, which owes its excellent metal endowment to multiple phases of mineralization which includes older copper-silver-gold porphyry mineralization and younger, overprinting, precious metal rich sheeted carbonate base metal vein systems.
Details (See Table 1 and Figures 1–6)
Assay results for twenty-eight diamond drill holes have now been announced at Apollo with results for additional holes expected in the near term. This press release announces results of three diamond drill holes with results summarized below.
APC-25 was drilled to the northwest from Pad 3 to a maximum depth of 215.80 metres and intersected a shallow, western extension to the Main Breccia discovery averaging:
106.85 metres @ 2.31 g/t gold equivalent consisting of 0.81 g/t Au, 30 g/t Ag, 0.62% Cu and 30 ppm Mo beginning at 73 metres downhole (65 metres vertical).
The mineralized angular breccia of this intercept contains a sulphide matrix which includes 1.5% to 2.5% chalcopyrite and between 1% and 3% pyrite plus pyrrhotite. The breccia has been overprinted by a zone of carbonate and base metal (sphalerite and galena) veins, which host higher gold grades and returned an interval of 14 metres grading 3.65 g/t gold equivalent. APC-25 is the westernmost hole drilled into the Main Breccia discovery and demonstrates that the mineralization is open and is thickening in this direction. Drill holes have been designed to continue to step-out to the west to expand upon this high grade and near surface mineralization.
APC-26 was drilled northeast from pad 4 and confirms continuity within the Northern Extension Zone of the Main Breccia system, as previously defined in holes APC-17 and APC-22. The hole was drilled to a maximum downhole length of 813.7 metres and intercepted:
311.2 metres @ 1.04 g/t gold equivalent consisting of 0.74 g/t Au, 16 g/t Ag, 0.05% Cu and 10 ppm Mo from 415 metres down hole.
Gold and silver mineralization relates to sulphides hosted within the angular breccia matrix including pyrite (1%-3%), pyrrhotite (1%-2%) and chalcopyrite (0.5%-1%). A higher-grade sub-zone was encountered within the mineralized intercept averaging 136.9 metres at 1.51 g/t gold equivalent and is characterized by an increase in overprinting low and intermediate sulphidation, carbonate base metal (“CBM”) vein material including visible sphalerite and galena.
APC-29 was drilled to the north-northeast from Pad 3 to a maximum depth of 644.8 metres and intercepted three mineralized zones before the hole was abandoned short of target depth due to a complicated fault structure. The two shallow zones within this hole are located directly beneath mineralized surface outcrops with the initial 32.0 metre intercept of mineralization beginning at 111.3 metres downhole (80 metres vertical), and the second 8.65 metre mineralized zone starting at 194.8 metres downhole (143 metres vertical). These high-grade gold, silver, and copper shallow zones of mineralization are hosted within a matrix of angular quartz diorite breccia with the sulphide component consisting of chalcopyrite (0.5%-2%), pyrite (0.5%-2%) and pyrrhotite (0.5-1%). Finally, the third zone, which starts at 343.8 metres downhole (318 metres vertical) intersected more 301 metres of continuous mineralization including a higher-grade subzone over 214.4 metres. The sulphide mineralization within the breccia matrix of this intercept contained pyrrhotite (0.5%-2.5%), pyrite (1%-3%) and multiple zones of sheeted CBM vein material, which are predominantly sphalerite rich with minor galena. The following intercepts are summarized from APC-29:
32.00 metres @ 10.48 g/t gold equivalent consisting of 9.23 g/t Au, 60 g/t Ag, 0.44% Cu and 30 ppm Mo from 89.25 metres downhole (80 metres vertical depth).
8.65 metres @ 2.26 g/t gold equivalent consisting of 0.57 g/t Au, 82 g/t Ag, 0.27% Cu and 10 ppm Mo from 194.80 metres downhole (143 metres vertical depth).
214.40 metres @ 1.04 gold equivalent consisting of 0.77 g/t Au, 14 g/t Ag, 0.05% Cu and 10 ppm Mo from 343.80 metres downhole (318 metres vertical depth), which includes 98.20 metres @ 1.26 g/t gold equivalent.
The Company’s Phase II, 2023 program is well underway with two rigs focused on drilling near surface, high grade mineralization below mineralized outcrops in the southern and central areas of the Main Breccia system while simultaneously targeting expansion to the overall dimensions of the system to the west, northwest, north and northeast. Furthermore, a new drill pad (pad 8) has been constructed 150 south of the southernmost modelled boundary of the Main Breccia system at Apollo and reconnaissance drilling is underway to test a recently discovered porphyry target.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers a 1,000 metres X 1,200 metres area. The Apollo target area hosts the Company’s Main Breccia discovery and multiple additional untested breccia, porphyry and vein targets. The overall Apollo target area also remains open for further expansion.
Table 1: Apollo Target Assays Results for Holes APC-25, APC-26 and APC-29
HoleID
From (m)
To (m)
Intercept (m)
Au (g/t)
Ag (g/t)
Cu %
Mo %
AuEq(g/t) *
CuEq(%) *
APC-25
73.00
179.85
106.85
0.81
30
0.62
0.003
2.31
1.26
Incl.
111.00
125.00
14.00
2.00
35
0.75
0.005
3.65
2.00
APC-26
415.00
726.20
311.20
0.74
16
0.05
0.001
1.04
incl.
415.00
551.90
136.90
1.14
20
0.06
0.001
1.51
APC-29
111.30
143.30
32.00
9.23
60
0.44
0.003
10.48
and
194.80
203.45
8.65
0.57
82
0.27
0.001
2.26
and
343.80
644.80
301.00
0.63
14
0.05
0.001
0.90
Incl.
343.80
558.20
214.40
0.77
14
0.05
0.001
1.04
Incl.
460.00
558.20
98.20
1.26
15
0.04
0.001
1.51
* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) is calculated as follows: (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Main Breccia System at Apollo Highlighting Drill Holes APC-25, APC-26 and APC-29 (CNW Group/Collective Mining Ltd.)
Figure 2: Up Close View of Drill Holes Intersecting the Shallow, High-Grade Southern Zone Within the Main Breccia System at Apollo (CNW Group/Collective Mining Ltd.)
Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Information Contact:
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FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Burlington, Ontario–(Newsfile Corp. – January 30, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces it is applying to the TSX Venture Exchange to extend all warrants related to the Company’s $0.30 round of financing (the “Warrants”). The Warrants have a two-year term, are exercisable at $0.50 (fifty cents) and were issued in various tranches from February 6, 2021 to July 8, 2021.
The Company is seeking regulatory approval to extend all Warrants for one additional year from their original expiry dates.
With respect to the Arizona mining and milling operations, SBMI expects to be able to make further disclosure within two weeks.
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 pathogen; 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 mineralized material; 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.
The Issuer has not based its production decision on current resources or the results of a pre-feasibility study of mineral resources to establish mineral reserves demonstrating technical and economic viability. Significant uncertainty exists on the presence of any economic mineable material.
