Categories
Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining’s Expansion Drilling Cuts 451.40 Metres at 2.67 g/t Gold Equivalent and 593.65 Metres at 1.69 g/t Gold Equivalent from Surface at the Guayabales Project’s Apollo System

  • APC-64 intersected 451.40 metres grading 2.67 g/t gold equivalent from near surface, including 98.50 metres @ 3.36 g/t gold equivalent in the sheeted CBM vein zone located above and contiguous to the Apollo porphyry system. On a gram x metre basis, APC-64 returned 1,206 g/t gold equivalent, which represents the second largest grade accumulation drilled to date at Apollo. The hole bottomed in mineralization with the final 10 metres grading 0.76 g/t AuEq.
  • APC-63 intersected 593.65 metres grading 1.69 g/t gold equivalent including 353.10 metres @ 1.39 g/t gold equivalent from surface in the same sheeted CBM vein zone before transitioning into the brecciated porphyry system. The hole bottomed in mineralization with the final 11.85 metres grading 0.75 g/t AuEq.
  • As a result of hole APC-63 and APC-64, the overall maximum known area of outcropping mineralization (combined brecciated porphyry and sheeted CBM vein zones) has expanded to 320 metres by 220 metres (previously 260 metres by 220 metres) and remains open for expansion to the north. New drill pads are nearing completion and are designed to test for extensions to the shallow mineralization, with drilling set to commence before the end of September 2023.
  • Drill hole APC-67 was designed to test Target 2 to the northeast of the Apollo system and cut significant shallow mineralization grading 53.55 metres @ 1.31 g/t gold equivalent from 109.25 metres down hole. Based on new modelling, the Company believes that this intercept is an extension to the Apollo system and as a result the maximum known strike length of the system has been increased by 65 metres and now measures 520 metres in strike (previously 455 metres) by 395 metres width by 915 metres vertical. Apollo remains open for further expansion in various directions.
  • Eleven new holes have been completed in the Apollo system with assays pending including APC-65 and APC-72, which cut long mineralized and continuous zones of the sheeted CBM vein system and the brecciated porphyry.

Ari Sussman, Executive Chairman commented: “The Apollo system continues to shine with the system continuing to expand. Our corporate strategy for the Guayabales project for the balance of 2023 and into 2024 is to focus on growth through the drill bit by looking to grow the sheeted vein and brecciated porphyry systems at Apollo and testing the six targets which surround it. In fact, we have already discovered new mineralization through reconnaissance drilling at Targets 1 and 2 with assay results outstanding for hole APC-68, which tested Target 3. Over the next few days, we will begin testing Target 6 for the first time and are excited about its potential given we have sampled oxidized mineralized sheeted CBM veins within a brecciated porphyry body at surface. Lastly, we have completed the initial two holes at the Plutus system’s northern corridor with a third hole about to start. It is a busy and exciting time for the Company with five drill rigs now operating at site.”

TORONTO, Sept. 7, 2023 /CNW/ – Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results for four holes drilled at the Apollo area, which is part of the Guayabales project located in Caldas, Colombia. Apollo already hosts an outcropping high-grade, bulk tonnage copper-silver-gold porphyry system and six newly generated targets surrounding it. The porphyry system at Apollo owes its excellent metal endowment to an older copper-silver and gold porphyry system being overprinted by younger precious metal rich, carbonate base metal veins (intermediate sulphidation porphyry veins) within a magmatic, hydrothermal inter-mineral breccia and diorite porphyry bodies currently measuring 520 metres x 395 metres x 915 metres and open for expansion.

Details (See Table 1 and Figures 1-4)

This press release outlines results from four holes testing the Apollo system. Step out holes APC-63 and APC-64 were drilled northeastwards to test an upper zone of sheeted CBM veining and continued, directly below, within depth extensions to the main brecciated porphyry body. Exploratory holes APC-66 and APC-67 were drilled to test potential extensions to the Apollo system in previously undrilled areas in the northwest and at exploration Target 2 in the northeast.

APC-63 was drilled northeastwards from Pad 10 to a maximum downhole depth of 593.65 metres (557 metres vertical due to topography). The hole commenced in grade within oxides from surface and was drilled in continuous mineralization to the end of the hole. The first 353.10 metres downhole cut the recently discovered outcropping sheeted CBM vein zone located above the main brecciated porphyry body. The sheeted CBM vein zone hosts chalcopyrite, sphalerite, and galena up to 0.8% while the brecciated porphyry zone below consisted of sulphides filling the cement matrix hosting 0.2% chalcopyrite, 1.2% pyrite, 0.5% sphalerite, 0.3% galena and pyrrhotite (up to 0.7%). The hole bottomed in mineralization with the final 11.85 metres averaging 0.75 g/t gold equivalent with assay results as follows:

  • 593.65 metres @ 1.69 g/t gold equivalent from surface (consisting of 1.46 g/t gold, 15 g/t silver and 0.03% copper) including:

APC-64 was drilled to the east-northeast from Pad 9 to a maximum downhole depth of 484.8 metres (435 metres vertical due to topography) and was designed to test the shallow, high grade, sheeted CBM zone and the main brecciated porphyry zone contiguous and below it. The drill hole intercepted 451.40 metres of continuous mineralization beginning at 33.40 metres downhole within the upper sheeted CBM vein zone for 98.50 metres with mineralization associated to sphalerite (up to 5%), galena (up to 3%), pyrite and chalcopyrite (up to 1%). Below this sheeted CBM zone, the hole transitioned into the brecciated porphyry zone until the end of the hole at 484.80 metres. At 309.40 metres downhole, a high-grade 70.95 metres long zone of brecciated porphyry with a strong CBM vein sulphide overprint was intercepted containing a sulphide cement matrix of chalcopyrite (0.5% to 1.5%), pyrite (up to 2%), pyrrhotite (up to 0.6%) and sphalerite and galena (up to 1%). The hole bottomed in mineralization with the final ten metres yielding 0.76 g/t gold equivalent. The following assay results are highlighted:

  • 451.40 metres @ 2.67 g/t gold equivalent from 33.40 metres downhole (consisting of 1.48 g/t gold, 57 g/t silver and 0.26% copper) including:

As a result of holes APC-63 and APC-64, the zone of outcropping mineralization (combined brecciated porphyry and sheeted CBM vein zones), has expanded to 320 metres by 220 metres (previously 260 metres by 220 metres) and remains open for expansion to the north. New drill pads are nearing completion with drilling designed to test for further expansions to the shallow mineralization and scheduled to commence before the end of September 2023.

APC-66 was drilled steeply to the southwest from Pad 1 to a final downhole depth of 514.05 metres (503 metres vertical due to topography) and intercepted a much shallower projection to the brecciated porphyry zone in this area compared to what the model previously predicted. An upper zone at 245.20 metres downhole consists of 22.25 metres of CBM vein mineralization overprinting quartz diorite porphyry rock. A 101.05 metres zone of brecciated porphyry, commencing at 292.50 metres downhole, contains a sulphide cement matrix of chalcopyrite (0.1% to 0.2%), pyrite (up to 1.5%), pyrrhotite (up to 1.0%) and sphalerite (up to 0.3%). The following assay results are highlighted:

  • 22.25 metres @ 0.51 g/t gold equivalent from 245.15 metres downhole (consisting of 0.28 g/t gold, 12 g/t silver and 0.04% copper), and
  • 101.05 metres @ 0.87 g/t gold equivalent from 292.50 metres downhole (consisting of 0.62 g/t gold, 14 g/t silver and 0.04% copper) including:

APC-67 was drilled to the east from Pad 5 to test Target 2, located to the northeast of Apollo and which is one of the six recently generated new targets within the Apollo area. The hole was drilled to a downhole depth of 225.65 metres (149 metres vertical due to topography) and encountered 53.55 metres of mineralization from 109.25 metres downhole related to brecciated porphyry with its cement matrix consisting of chalcopyrite traces, pyrite (1.2%), sphalerite (1.0%) and galena (0.5%). Based on new interpretation by the Company, this intercept confirms an extension of the Apollo porphyry system to the northeast with maximum known dimensions now measuring 520 metres x 395 metres x 915 metres (previously 455 metres x 395 metres x 915 metres). The system remains open for expansion in the north, southeast and at depth with assay results as follows:

  • 53.55 metres @ 1.31 g/t gold equivalent from 109.25 metres downhole (consisting of 1.13 g/t gold, 11 g/t silver and 0.02% copper) including:

Apollo Drill Program and Assay Update

The 2023 Phase II drilling program is advancing on schedule with assay results reported for 36 holes and an additional eleven holes awaiting assay results from the lab. Since the announcement of the discovery hole at Apollo in June 2022, a total of 67 drill holes (approximately 29,109 metres) have been completed and assayed.

With five diamond drill rigs now operating at site, the Company is focused on:

  1. Expanding the Apollo porphyry system including depth extensions and high-grade sub-zones.
  2. Further drill testing to expand the newly discovered, east-west trending, shallow and outcropping, sheeted CBM vein zone.
  3. Testing the remaining three of six newly generated targets surrounding the Apollo porphyry system. Three targets have been drill tested to date with new mineralization being discovered at Targets 1 and 2 with assay results pending for a hole which tested Target 3.
  4. Testing Plutus, a new large-scale porphyry target located up to 1.5 kilometres east of Apollo.
  5. Generating new exploration targets for future drilling.

The Apollo 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 and represents a large and unusually high-grade copper-silver-gold porphyry system. Mineralization styles include early-stage porphyry veins, inter-mineral brecciated porphyry mineralization and multiple zones of late stage, sheeted, carbonate-base metal veins with high gold and silver grades. The Apollo area is still expanding as the Company’s geologists have found multiple additional outcrop areas with porphyry veining, breccia, and late stage, sheeted, carbonate base metal veins. (See press release dated April 18, 2023)

Results for holes outlined in this press release are summarized below:

Table 1: Assay Results for APC-63, APC-64, APC-66 and APC-67

Hole #From
(m)
To (m)Length
(m)
Au g/tAg g/tCu %Mo %AuEq g/t*
APC-63**593.65593.651.46150.030.0011.69
Incl353.10353.101.16150.020.0021.39
and incl353.10593.65240.551.90150.030.0012.12
APC-64**33.40484.80451.401.48570.260.0012.67
Incl34.65133.1598.503.13160.050.0013.36
and incl309.40380.3570.952.051040.380.0014.10
APC-66245.15267.4022.250.28120.040.51
And292.50393.55101.050.62140.040.0010.87
Incl348.10362.2514.150.89190.040.0011.21
and incl384.00393.559.552.27390.100.0052.96
APC-67109.25162.8053.551.13110.020.0021.31
Incl112.20136.8524.652.21190.030.0022.47
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag g/t x 0.016 x 0.88) + (Cu (%) x 1.79 x 0.90)+ (Mo (%)*11.62 x 0.85) utilizing metal prices of Cu – US$3.85/lb, Ag – $24/oz Mo – US$25/lb and Au – US$1,475/oz and recovery rates of 97% for Au, 88% for Ag, 85% for Mo, and 90% for Cu. Recovery rate assumptions are speculative as limited metallurgical work has been completed to date. True widths are unknown, and grades are uncut.
 ** Hole bottomed in strong mineralization
Figure 1: Plan View of Drill Holes Announced in this Release Highlighting the New Extensions of the Outcropping Zone of Sheeted CBM Vein Mineralization (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of Drill Holes Announced in this Release Highlighting the New Extensions of the Outcropping Zone of Sheeted CBM Vein Mineralization (CNW Group/Collective Mining Ltd.)
Figure 2: Cross Section Highlighting Hole APC-63 and the Sheeted CBM Vein Zone Above and Peripheral to the High-Grade Brecciated Porphyry (CNW Group/Collective Mining Ltd.)
Figure 2: Cross Section Highlighting Hole APC-63 and the Sheeted CBM Vein Zone Above and Peripheral to the High-Grade Brecciated Porphyry (CNW Group/Collective Mining Ltd.)
Figure 3: Core Photo Highlights of APC-63 (CNW Group/Collective Mining Ltd.)
Figure 3: Core Photo Highlights of APC-63 (CNW Group/Collective Mining Ltd.)
Figure 4: Plan View of the Guayabales Project Highlighting the Apollo Area (CNW Group/Collective Mining Ltd.)
Figure 4: Plan View of the Guayabales Project Highlighting the Apollo Area (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

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

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

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

Qualified Person (QP) and NI43-101 Disclosure

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

Technical Information

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

Information Contact:

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

FORWARD-LOOKING STATEMENTS

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

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

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

SOURCE Collective Mining Ltd.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2023/07/c3353.html

Categories
Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Investment and Continuation of Mining in Arizona

Burlington, Ontario–(Newsfile Corp. – September 7, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces the continuation of mining operations at the Buckeye Mine in Arizona and a cash infusion.

The aberrant extremely hot weather continued in Arizona throughout most of August, preventing work from then being carried out at the mill or at the Buckeye Mine. The temperature on the concrete mill pad during this period on occasion exceeded 150 degrees Fahrenheit. Running the mill in such hot weather would have been a danger to the proper functioning of the equipment. Mining, whether during the day or at night, would have been an unacceptable safety risk to the field team.

The hot weather has finally abated and the Company is pleased to announce the continuation of mining operations at the Buckeye Mine. Processing material at the mill should continue within roughly one month.

SBMI has been advised by the United States Forest Service that in August, 2023 lightning caused a fire near the Buckeye Mine. The USFS graded the road leading to the Buckeye Mine to allow it to bring in equipment needed to fight the fire.

The annual taxes on the BLM lands comprising part of the Black Diamond property, which surrounds the Buckeye Mine, have been paid.

SBMI is pleased to announce it has entered into an agreement with an arm’s length third party (the “Investor”) for the amount of USD$350,000. This investment is structured as a loan having a five year term and a zero per cent interest rate. The first tranche of this investment is USD$225,000 which has been received by SBMI, and the second tranche of USD$125,000 is contemplated to be forwarded to SBMI five days after the first shipment of silver dore has been received by the Investor. The loan is secured by two pieces of equipment onsite in Arizona.

This relationship with the Investor should allow SBMI to better execute its business model, substantially increase its revenue and expand its operations.

The Investor carried out an extensive due diligence review on SBMI, including a site visit to the Buckeye Mine and the mill, and including metallurgy on sample dore bars from the Buckeye. As a result of such extensive review, the Investor has asked SBMI to work with it to advance other projects in which the Investor is involved. The first two such projects under consideration are in Arizona and Colorado. It is intended that SBMI will provide mining, metallurgical and processing services to the Investor using SBMI’s state-of-the-art milling infrastructure and facilities. The SBMI mill should be capable of handling any of the Investor’s products under consideration, and being modular, can be expanded to increase its capacity as required.

The Investor is also a potential purchaser of dore bars to be produced at the mill. As the relationship evolves, it is likely the Investor will become SBMI’s largest customer.

On July 7, 2023 SBMI announced the extension of the silver purchase agreement with the Purchaser described in its April 27, 2023 and May 4, 2023 press releases. Effective June 30, 2023, the Purchaser and SBMI verbally agreed to extend the term of such agreement to August 31, 2023, and worked towards reducing such verbal agreement to writing. The Purchaser and SBMI continue in good faith to try to reduce the June 30, 2023 verbal agreement to writing including a new extension date.

The test-run shipment of silver, as described in the Company’s June 14, 2023 press release, from SBMI to the Purchaser was received and tested by the Purchaser. The 102 ounces comprising the test-run contained dore bars consisting of varying amounts of silver, copper, and other materials. The Purchaser has tested the dore bars to determine what composition is best suited for its purposes.

As for further detail in the mining activities, the Company reached the Treasure Room in March, 2022. Higher grade material was found in the wall rock, and the Company’s intention at the time was to commence mining on the other side of the Treasure Room where the vein is clearly visible. Unfortunately, unsafe working conditions due to ceiling instability meant the Company could not cross the Treasure Room and instead had to mine around the Treasure Room into the diabase. This added roughly 150 feet of drifting through harder host rock. During this time, encouraging values were obtained from samples but were not of sufficient volume to run the mill efficiently.

Until paused by the unusual heat wave, such mining activity had advanced approximately 600 feet from the portal entrance to the Treasure Room, then around the Treasure Room, and then along the vein. The team now continues to drift along the vein towards a targetted area. The Company estimates that it is relatively close to drifting into historical drill holes which can be traced from the casings on surface. The Company’s information related to those historical drill holes and the historical assaying of them do not meet NI43-101 standards and cannot be disclosed.

In furtherance of its understanding of the vein and the host rock, a Lidar survey of the Buckeye Mine was recently carried out.

At some time in the future, the Company will return to the Treasure Room (once fully safetied) and will develop the lower levels where the Company believes there to be more higher grade material. The cost and timing of such activities have not been determined at this time.

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/179793

Categories
Base Metals Energy Junior Mining Rover Metals

Rover Metals Announces Results of Expanded Phase 1 Surface Exploration Program at Its LGL Lithium Project, Nevada, USA

VANCOUVER, BC / ACCESSWIRE / September 7, 2023 / Rover Metals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce that further to its release of August 1, 2023, management of the Company, including Mr. James Ingraffia, have completed a successful field visit and surface sampling program at the Let’s Go Lithium (“LGL”) project, NV, USA.

Summer 2023 Work Program
Management, including Mr. Ingraffia, spent a week in the field this summer at the LGL program. The purpose of the field visit was to orient Mr. Ingraffia with the project as well as confirm previously reported high-grade lithium surface samples at the project, with the goal of starting work on a geological map of the clay body at LGL. Mr. Ingraffia will work with Rover’s CEO, in the coming weeks and months, on a Plan of Operations For Exploration and any necessary environmental assessment that may be required under the U.S. National Environmental Policy Act (“NEPA”).

James Ingraffia
James is a senior lithium geologist specializing in Nevada. Mr. Ingraffia is the founder of Lithium Arrow LLC. He has seven years of experience in lithium economic geology, and is a highly trained specialist in lithium claystone and experienced in lithium brines and pegmatites. He got his start with the United States Geological Survey in lithium brine and claystone geochemistry, in partnership with Pure Energy Minerals before its purchase by Schlumberger. He then characterized the Thacker Pass lithium claystone deposit, from the atomic to kilometer scale, and published the results in partnership with Lithium Americas Corporation and the Nevada Bureau of Mines and Geology. He holds a Master’s Degree of Geology, with training in Business Administration, from the University of Nevada Reno and a Bachelor’s of Geology from California State University Northridge. Mr. Ingraffia is based in Reno, NV.

Surface Sampling Results
The results of Mr. Ingraffia’s surface sampling work is provided in the below table. Lithium grades have been analyzed using a SkiAps 903 Handheld Laser Induced Breakdown Spectroscopy (“HH LIBS”):

Sample IDMethodGrade (ppm Li)
348222 averagedHH LIBS850.35
348421HH LIBS680.1
348420 averagedHH LIBS1,032.75
348419HH LIBS371.9
348418HH LIBS606.9
348417HH LIBS436.6
348416HH LIBS631.4
348415HH LIBS253.4
348414HH LIBS417.3

A SkiAps LIBs 903 analyzer was used to assay these samples. The QA/QC protocols for the LIBs are as follows: (a) it was calibrated for Claystones; (b) it was tested on a known Claystones lithium sample prior to fieldwork; and (c) the field samples were shot in a controlled environment, inside, with proper cleansing of the lens, and sample separation. The highest grades were shot several times to try to eliminate any nugget affect; (d) fine ground particulates were not tested, so no pucking was necessary.

Picture of Sample 348420

An initial geological map of the LGL project, including all new and historic surface samples reporting higher then 400 ppm Li (including historic laboratory assays and historical HH LIBS work) can be accessed at the following link:

Geological Map
https://rovermetals.com/summer-2023-sampling-program

Technical information has been approved by David White, P.Geo., QP for the purposes of NI 43-101.

Judson Culter, CEO at Rover Metals, states “the results of the summer 2023 work program reinforces managements’ working model of the LGL project. We believe the project to be an at, or very near to surface clay deposit, with open pit mine potential. Although claystone lithium deposits typically have higher grades at depth, we’re getting high grades of lithium near to surface at LGL. Lhoist North America has been open pit mining specialty clays in the area since the 1970s. Management believes that mining exploration and mining activities can co-exist along side the national parks in the vast rural area of the Amargosa Valley of Nevada. Management has been working through the summer to short-list preferred environmental consulting firms, and we hope to finalize the consultant for our NEPA process within the next few weeks.”

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

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

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

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

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

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

SOURCE: Rover Metals Corp.



View source version on accesswire.com:
https://www.accesswire.com/781371/rover-metals-announces-results-of-expanded-phase-1-surface-exploration-program-at-its-lgl-lithium-project-nevada-usa

Categories
Base Metals Emx Royalty Energy Precious Metals Project Generators

China’s Zijin Mulls $3.8 Billion Expansion of Serbia Copper Mine (EMX Royalty)

The excavated terrain of the Veliki Krivelj open pit copper mine, operated by Zijin Mining Group Co., in the Bor Region, Serbia. Photographer: Oliver Bunic/Bloomberg , Bloomberg

(Bloomberg) — China’s Zijin Mining Group Co. is developing plans to expand its copper mine in eastern Serbia due to demand for the metal considered vital to the global energy transition — an effort that could cost billions of dollars. 

The company opened the Cukaru Peki copper and gold mine almost two years ago, with a $678 million investment allowing it to reach reserves a few hundred meters deep. Now it wants to drill down almost 2 kilometers (1.25 miles) to make the most of assets acquired in a takeover spree. 

“These are vast reserves, which require additional infrastructure, additional investment of around $3.5 billion to $3.8 billion,” said Branko Rakocevic, the top Serbian official at the mine, whom the Chinese company authorized to speak with reporters. 

Across the globe, companies and governments are racing to produce materials considered key to the shift toward a greener economy. Copper in particular is used in wind turbines, power grids and electric vehicles. China is the world’s top-supplier of so-called critical minerals, but the European Union and US are seeking to boost domestic supplies to ensure that they don’t fall further behind in the transition. 

Read more: Why the Fight for ‘Critical Minerals’ Is Heating Up: QuickTake

Serbia, a candidate for EU membership, has embraced foreign investors including China as it looks to revitalize an ailing sector of its economy. Australia-based BHP Group, the world’s biggest mining company, is also looking more closely, signing an agreement earlier this year to explore for new copper deposits in the country.

Cukaru Peki is located in the town of Bor, where copper, gold and silver have been mined for over a century. The mine’s lower zone, at depths of more than 460 meters (1,508 feet), is believed to hold 2.2 million tons of copper, more than in the upper zone. Its gold content is thought to be lower at the deeper depths.  

The upper zone may be exhausted of its deposits around 2034, while deeper operations could start in 7 to 10 years, according to Rakocevic. Zijin’s long-term plans for the site include building roads, and expanding power supply and flotation facilities, he said.

Zijin’s Expansion

Zijin bought Serbia’s sole copper and gold complex in 2018, when the government auctioned off the debt-laden business in an effort to save thousands of jobs in an impoverished mining region. Following a string of takeovers, the Chinese company developed full control of what is now Cukaru Peki. 

The acquisition — and further investments to expand mines in Congo and Tibet — are helping to transform Zijin into one of the world’s largest copper miners, leapfrogging western producers like Rio Tinto, Anglo American and Antofagasta. By 2025, it expects to produce about 1.2 million tons of copper, a six-fold increase over levels seen in 2017.

Zijin now runs two units in Serbia. One produces copper cathodes, gold, silver and sulfuric acid at facilities co-owned with the government. The other, Serbia Zijin Mining — which operates the Cukaru Peki mine — exports copper concentrate to China, Canada, Bulgaria, Spain and Korea. 

The companies have been among Serbia’s top exporters for the last two years, riding a wave of demand for metals. Benchmark copper futures soared earlier this year, though prices have cooled in recent months, largely over concerns about the health of China’s economy. 

“Still, copper is in demand always and everywhere” which justifies the long-term investment, Rakocevic said. “The market is stable enough. Prices declined from last year, but we don’t expect much volatility.” 

–With assistance from Mark Burton.

©2023 Bloomberg L.P.

Original Source: https://www.bnnbloomberg.ca/china-s-zijin-mulls-3-8-billion-expansion-of-serbia-copper-mine-1.1964102

Categories
Base Metals Emx Royalty Junior Mining Precious Metals Project Generators

Ridgeline Minerals Expands Big Blue Property Position by 33%

Vancouver, British Columbia–(Newsfile Corp. – September 6, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or the “Company“) is pleased to announce the staking of an additional one hundred and forty-one (“141”) Bureau of Land Management (“BLM“) lode claims (2,913 acres) at the Big Blue project (“Big Blue” or “Project”) in Elko County, Nevada. Big Blue now comprises 502 contiguous lode claims totaling 10,168 acres or 41 square kilometers (“km”) (Figure 1), and is 100% owned by the Company with no underlying work commitments or royalty obligations. The property includes the past producing Delker Mine and Skarn Hill Adit, which collectively produced a reported 94,434 pounds of copper (“Cu”) at an average grade of 6.2% Cu between 1916-19171 (Figure 1). The Project has not seen a sustained exploration effort in decades and exhibits excellent potential to make new porphyry copper and Carbonate Replacement (“CRD”) style polymetallic discoveries.

The property expansion followed the Company’s recently announced acquisition of an extensive historical database for Big Bluesee (August 24, 2023 press release HERE), which has highlighted additional geophysical targets located to the northwest of the original claim block. This kilometer-scale target exhibits overlapping gravity and magnetic geophysics anomalies and is interpreted as a potential porphyry signature that may be the deeper source to the known Cu-skarn mineralization outcropping at the historical Delker Mine (Figure 2). As a result, Ridgeline staked all open and locatable claims surrounding the porphyry target and will continue advancing Big Blue towards a maiden drill program in 2024.

Chad Peters, President & CEO, commented“Big Blue continues to be a rapidly evolving project in our exploration pipeline. Our team is very encouraged by the scale of the geophysical anomaly’s located on our new claim block, which suggests potential for a blind porphyry copper target at depth and distal CRD targets along strike. Until now, the Delker area has never been explored as a consolidated porphyry district and with this expansion we now control a target-rich land position with a robust geologic dataset to support our exploration model. We will continue to advance low-cost targeting and permitting initiatives through the remainder of this year while we prepare for a maiden drill campaign in 2024.”

Big Blue Project

Big Blue is located in Elko County, Nevada, approximately seventy-five kilometers (“km”) southeast of the city of Elko, NV. The Project includes the past producing Delker Mine, which produced a reported 94,434 pounds of copper at an average grade of 6.2% Cu between 1916-19171 and shares its southern boundary with Reyna Silver’s Medicine Springs Ag-Pb-Zn Carbonate Replacement (“CRD”) project. Mineralization occurs as outcropping, high-grade Cu occurrences located proximal to northeast trending felsic dikes that are interpreted as the zoned manifestations off a potential porphyry source, located in the northwest corner of the Big Blue property. Importantly, this target has never been drill-tested. The primary target at Big Blue is porphyry-skarn Cu ± Au-Ag mineralization, with potential to discover polymetallic, carbonate replacement deposit (CRD) style mineralization as the system zones outward over 6 kilometers of strike towards the Medicine Springs project. This target model is analogous to the Butte Valley porphyry Cu-Au system, which is inferred to be the source of CRD mineralization at the Company’s nearby Selena project. Big Blue is 100% owned by the Company and is comprised of a total of 41 square kilometers of highly prospective exploration ground that has seen limited exploration since the early 1900’s and will benefit from Ridgeline’s systematic approach to discovery (view Ridgeline’s Corporate Deck HERE).

Figure 1: Plan view map showing the location of the 141 new claims (shaded blue) staked by Ridgeline to increase claims by ~33% to 502 contiguous lode claims.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/179674_1f511761d4096991_002full.jpg

Figure 2: Plan view map on the left showing reduced to pole (“RTP”) airborne magnetics highlighting kilometer scale magnetic “highs” at both the Delker Mineand to the northwest on Ridgeline’s new claims. The map on the right shows Residual Gravity with a coincident high over proposed porphyry centers. Gravity also highlights a lower amplitude anomaly interpreted as a northeast trending structural corridor that trends southwest to the historical Golden Pipe mine (Ag-Pb-Zn) owned by Reyna Silver.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/179674_1f511761d4096991_003full.jpg

To view X-Section A-A’ showing magnetics anomaly beneath the Delker Mine, click HERE.

To view plan view maps showing Total Horizontal Gradient Magnetics and Residual gravity, click HERE.

QAQC Procedures

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

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

About Ridgeline Minerals Corp.

Ridgeline is a discovery focused gold-silver explorer with a proven management team and a 204km² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

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

Further Information:
Chad Peters, P.Geo.
President & CEO
Ridgeline Minerals Corp.
(775) 304-9773 | info@ridgelineminerals.com

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

Cautionary Note regarding Forward-Looking Statements

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

Sources

1Delker Mine Historic Production (Page 57): Smith, R.M., 1976, Mineral resources of Elko County, Nevada: U.S. Geological Survey Open-File Report 76-56, 201 p.

2Medicine Springs Results: https://reynasilver.com/system/uploads/RS-PressRelease-20230117.pdf

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Executes Updated Timok Royalty Agreement with Zijin

Vancouver, British Columbia–(Newsfile Corp. – September 5, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an amended and restated royalty agreement on September 1, 2023 for its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin have agreed that the Timok royalty will consist of a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced. The royalty covers Zijin’s Brestovac exploration permit area (including the Cukaru Peki Mining licenses), as well as portions of Zijin’s Jasikovo-Durlan Potak exploration license north of the currently active Bor Mine (Figure 1).

EMX’s Timok royalty property is located in the Bor Mining District of Serbia and covers the Cukaru Peki copper-gold deposits which have recently been put into production by Zijin. Cukaru Peki represents one of the premier copper and gold discoveries in the world in the past 10 years and is a top tier royalty asset for EMX. The Cukaru Peki deposits consist of a high-level body of high-grade, epithermal-style copper-gold mineralization referred to as the “Upper Zone”, and a deeper body of porphyry-style copper-gold mineralization known as the “Lower Zone”.

Zijin is currently producing copper and gold from the Upper Zone deposit at Cukaru Peki, while concurrently developing the Lower Zone. The Cukaru Peki deposits and operations are summarized in Zijin’s annual reports and in various Zijin disclosures. An NI-43-101 technical report for the Timok royalty was filed by EMX on SEDAR on March 31, 2022.

As part of the execution of the revised royalty agreement, EMX will receive approximately US$6.68 million. This includes royalty payments of $1.59 million from July-December, 2021, royalty payments of $3.20 million from the calendar year 2022, and $1.89 million for the period of January-June, 2023. From that point forward EMX will continue to receive quarterly production royalty payments on an ongoing basis. EMX is appreciative of Zijin’s cooperative and amicable approach throughout the process of achieving this resolution and looks forward to working with Zijin as the projects advance.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

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

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

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

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

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2023 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Locations of EMX royalty interests and key geological features in the Timok Magmatic Complex in the Bor Mining District of Serbia.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/179559_b87e0acd24d1f9f1_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179559

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Discovers New Bonanza Grade Gold Lode 1 KM North of Tuvatu

Surface sampling returns multiple high-grade results up to 92.55 g/t gold

North Vancouver, British Columbia–(Newsfile Corp. – August 24, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce the discovery of a new mineralized structure carrying bonanza grade gold 1 km to the north of the company’s 100% owned Tuvatu Alkaline Gold Project in Fiji.

The new mineralized structure was discovered on surface by Lion One’s regional exploration team and has been named the Lumuni occurrence. The structure is located 1 km north of Tuvatu, approximately along strike from lodes UR1, UR2, and UR3. The Lumuni structure exhibits a width at surface of approximately 0.5 m to over 1 m and is manifested as two mapped zones of what may be a single continuous feature. This includes a north-south striking zone that dips steeply to the west, and a northwest-southeast striking interval that dips steeply to the southwest. High-grade gold results were returned from close-spaced channels and outcropping zones separated by up to 30 m strike length. The overall feature was traced on surface for a length of over 150 m and remains open to the south-east where it is obscured under vegetation. The high-grade mineralized structure also appears to be coincident with a large steeply-dipping CSAMT resistivity low, which may be indicative of a deeply-rooted structure.

Highlights of Lumuni channel sampling:

  • 66.83 g/t Au over 0.7 m (CH3850)
  • 48.45 g/t Au over 0.7 m (including 92.55 g/t Au over 0.3 m) (CH3851)
  • 15.18 g/t Au over 1.1 m (including 31.25 g/t Au over 0.3 m) (CH3849)
  • 14.66 g/t Au over 1.1 m (including 16.78 g/t Au over 0.7 m) (CH3855)
  • 17.04 g/t Au over 0.6 m (including 30.59 g/t Au over 0.3 m) (CH3853)
  • 10.30 g/t Au over 0.9 m (including 13.89 g/t Au over 0.6 m) (CH3852)
  • Strike length of over 150 m observed on surface

Lion One Chairman and CEO Walter Berukoff commented: “We’re very pleased with the discovery of the Lumuni occurrence. This discovery was made as part of our ongoing regional mapping and sampling program throughout the Navilawa Caldera. What makes this discovery so outstanding is the continuity of the high-grade material. It is not a single bonanza-grade sample, but rather a traceable lode of high to very-high grade material that can be followed along at surface. The fact that these high-grade samples coincide with a steeply dipping resistivity low is even more compelling as it provides us with immediate drill targets to pursue. We can now add Lumuni to our growing list of high-priority regional exploration targets.”

Table 1. Highlights of channel sampling in the Lumuni area. For full results see Table 2 in the appendix.

Channel IDFromToInterval (m)Au (g/t)
CH38480.91.30.44.24
CH384912.11.115.18
including11.450.454.54
and1.451.750.331.25
and1.752.10.3515.09
CH38500.61.30.766.83
including0.610.464.62
and11.30.369.77
CH38510.91.60.748.45
including0.91.30.415.38
and1.31.60.392.55
CH385200.90.910.3
including00.60.613.89
and0.60.90.33.13
CH38530.61.20.617.04
including0.60.90.330.59
and0.91.20.33.48
CH38550.921.114.66
including0.91.30.410.95
and1.320.716.78
CH390311.70.72.32

Figure 1. Location of Lumuni surface samples in relation to Tuvatu. The Lumuni discovery is approximately 1 km NNE of Tuvatu. Underground developments at Tuvatu are shown in red and the Lumuni surface samples are identified by the black dots. Background colours represent surface geology, with Navilawa Monzonite in pink, Nadele Breccia in green, and Sabeto volcanics in dark purple.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/178325_861890c8943d596e_001full.jpg

Figure 2. Location of Lumuni channel samples. Composite results of channel sampling in the Lumuni area in g/t gold. The dashed line represents the trace of the mineralized lode on surface.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/178325_861890c8943d596e_002full.jpg

Lumuni Channel Sampling

A total of 16 channel samples were collected in the Lumuni area. The channel samples were collected by taking rock chip samples along a line oriented perpendicular to the observed structure, with overlap into the wall rock (see Figure 3).

The Lumuni structure is composed of two intervals; a northern portion trending approximately north-south and dipping sub-vertically to steeply to the west, and an eastern portion trending approximately northwest-southeast and dipping steeply to the southwest. The area between the two sections is covered in thick vegetation. It is hypothesized that the two portions are part of the same curvi-linear structure, though the eastern portion may be a splay off the northern section. The northern section is located on the margins of the Sabeto River while the eastern portion climbs up a dry creek bed to the top of a ridge, where it becomes obscured by overburden. While the northern portion appears to pinch out to the north where a series of channel samples failed to return any grade, the eastern portion may remain open to the east with mineralization observed along its entire length. The mineralized strike length of the entire Lumuni structure is currently >150 m, including both portions.

The Lumuni structure has an average estimated true width of 0.6 m, though it pinches and swells locally with observed widths reaching approximately 1 m. It is hosted in monzonite and is composed of variably white to gray chalcedonic banded and locally recrystallized quartz, with abundant heavily oxidized sulphides, giving the lode a bright red, gossanous appearance. Pyrite is the most dominant sulphide, with trace sphalerite (zinc sulphide) and galena (lead sulphide) visible locally. Alteration is intense and consists predominantly of white clays and micas. Coarse roscoelite (a vanadium mica observed in high-grade parts of Tuvatu) is also observed locally. The north-south portion of the lode is structurally controlled forming sinistral, sigmoidal shapes suggesting a north-south strike-slip foliaton as well as northwest-southeast foliations.

Figure 3. Example Lumuni channel samples. Left: Channel samples CH3848 to CH3849. Red arrows represent the approximate location of channel samples (sample lines CH3850 and CH3851 are obscured by boulders). The approximate location of Lumuni structure is represented by the yellow lines. North is up. Right: Channel sample CH3850. The Lumuni lode is visible as the reddish-brown oxidized structure in the middle of the photo. Sample bags indicate the location of samples along the channel, which is marked with yellow spray paint. North is to the right.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/178325_861890c8943d596e_003full.jpg

Figure 4. Example of Mineralization from the Lumuni Outcrop. Chalcedonic, locally banded and recrystallized comb quartz forming on the walls of open vugs, and abundant strongly oxidized sulphides in intensely altered medium-grained monzonite. Pen for scale.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/178325_861890c8943d596e_004full.jpg

CSAMT

The newly discovered Lumuni structure overlies a prominent resistivity gradient identified in the 2019 CSAMT survey as a potential drill target (Figure 5). CSAMT is a ground geophysical method that measures the electrical resistivity of rocks down to depths of several kilometers. It is highly efficient in identifying subsurface structures, such as lithological contact zones, faults, fracture systems, and potential upflow zones especially if these are deep-rooted structures. In alkaline gold deposits such as Tuvatu, such deep-rooted structures provide the principal conduits for hydrothermal fluid flow from which gold and other metals are deposited.

The fact that the Lumuni structure not only appears to be sub-vertically dipping but that it also corresponds to a steeply-dipping resistivity gradient provides credence to the suggestion that the mineralization observed at surface may be associated with a deep-rooted structure, in similar fashion to the mineralized lodes at Tuvatu. The CSAMT survey data thereby provides viable drill targets to follow up the bonanza-grade surface sampling described in this news release. Note that the CSAMT data shown here is based on the 2019 CSAMT survey. As reported on June 20, 2023, additional CSAMT lines were completed in 2023, the results of which once interpreted, will provide higher resolution imaging of the resistivity characteristics of the survey area. Due to some delay in processing, the 2023 CSAMT data is not yet available. Once it is available, the higher resolution data will be beneficial in further refining drill targets to follow up the Lumuni occurrence.

Figure 5. CSAMT gradient underlying bonanza grade Lumuni surface samples. Line 08 from the 2019 CSAMT survey. The Lumuni channel samples overly a steeply dipping resistivity gradient that was identified in the 2019 CSAMT survey as a potential drill target. Once available, results from the 2023 CSAMT survey will provide enhanced resistivity data in this area and further refine drill targeting in the Lumuni area.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/178325_861890c8943d596e_005full.jpg

About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedarplus.ca.

Qualified Person (NI43-101)
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of Lion One Metals Limited
Walter Berukoff“, Chairman and CEO

Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Sample Results and Collar Information

Table 2. Channel and rock sample results from the Lumuni area

Channel IDSample IDFromToInterval (m)Au (g/t)
CH3848TUS02573000.90.90.51
CH3848TUS0257320.91.30.44.24
CH3848TUS0257331.31.70.40.32
CH3848TUS0257341.72.20.5<0.01
CH3849TUS0257350110.04
CH3849TUS02573611.450.454.54
CH3849TUS0257371.451.750.331.25
CH3849TUS0257381.752.10.3515.09
CH3849TUS0257392.12.80.70.02
CH3850TUS02574000.60.60.04
CH3850TUS0257410.610.464.62
CH3850TUS02574211.30.369.77
CH3851TUS02574300.90.90.72
CH3851TUS0257440.91.30.415.38
CH3851TUS0257451.31.60.392.55
CH3851TUS0257461.620.40.69
CH3852TUS02574700.60.613.89
CH3852TUS0257480.60.90.33.13
CH3853TUS02574900.60.60.24
CH3853TUS0258510.60.90.330.59
CH3853TUS0258520.91.20.33.48
CH3854TUS02585300.60.60.23
CH3854TUS0258540.60.90.30.56
CH3855TUS02585500.90.90.15
CH3855TUS0258560.91.30.410.95
CH3855TUS0258581.320.716.78
CH3856TUS0258590110.1
CH3856TUS02586011.60.60.09
CH3892TUS02588700.40.4<0.01
CH3892TUS0258880.40.70.3<0.01
CH3892TUS0258890.71.20.5<0.01
CH3893TUS02589000.70.4<0.01
CH3893TUS0258910.710.3<0.01
CH3893TUS02589211.70.7<0.01
CH3894TUS02589300.70.7<0.01
CH3894TUS0258940.710.3<0.01
CH3894TUS02589511.30.3<0.01
CH3894TUS0258961.31.60.3<0.01
CH3903TUS02300300.60.60.24
CH3903TUS0230040.610.4<0.01
CH3903TUS02300511.70.72.32
CH3903TUS0230061.72.30.6<0.01
CH3904TUS02300800.90.9<0.01
CH3904TUS0230090.91.10.2<0.01
CH3904TUS0230101.11.40.3<0.01
CH3904TUS0230111.41.70.3<0.01
CH3905TUS02301200.80.8<0.01
CH3905TUS0230130.81.50.7<0.01
CH3905TUS0230141.52.40.9<0.01
CH3905TUS0230152.42.70.31.28
CH3906TUS023019011<0.01
CH3906TUS02302011.60.60.62

Table 3. Collar coordinates (channel start) for channel samples reported in this release. Coordinates are in Fiji Map Grid.

Channel IDEastingNorthingElevationLength (m)
CH384818766443922070167.22.2
CH384918766433922072167.32.8
CH385018766423922075166.31.3
CH385118766403922079165.42.0
CH385218766943922043205.50.9
CH385318766893922045199.51.2
CH385418766823922048196.00.9
CH385518766773922048193.52.0
CH385618766743922050190.51.6
CH389218766403922082166.51.2
CH389318766393922087166.51.7
CH389418766383922089166.81.6
CH390318766643922049183.52.3
CH390418767043922033218.01.7
CH390518767263922024231.02.7
CH390618767563922009256.01.6

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178325

Categories
Junior Mining Lion One Metals

Lion One Now Mining. Gold Production in Six Weeks

Bob Moriarty
Archives
Aug 23, 2023

I’ve written about Lion One (LIO-V) probably a dozen times over the last couple of years. They are the only junior in the world with 100% ownership of a major alkaline gold system. Their Tuvatu gold project is located in Fiji on the Pacific Ring of Fire with multiple 20 million ounces high-grade gold mines on the same structure.

With a market cap of only about $171 million CAD the market seems to value the company for only their 2018 43-101 resource estimate of just over 720,000 ounces. But the company is about to be revalued in three different ways.

First of all, the resource does not reflect an accurate count of how much gold they have. The Tuvatu Gold project is similar in size to the Vatukoula Gold Mine in production since 1938 having shipped over seven million ounces of gold. Vatukoula is about 35 km from Tuvatu on the same structure. Vatukoula still reports about 3.8 million ounces in a resource.

These alkaline gold systems have an unusual form of gold. There will be hundreds of tiny fractures in the rock where flash gold has appeared. The veins may only be a couple of centimeters but are ultra-high grade. Since they vary widely in orientation it is not possible to get a representative assay of the real grade because there is no angle that you can drill that catches all of the tiny veins. Actually in one of the latest press releases the company changed how they sample assays of greater than 10 g/t gold to more accurately reflect the real grade.

What I’m trying to say is that in spite of having spent tens of millions of dollars in drilling, the company still does not know what an accurate grade is for the gold. But the good side of that issue is that no matter how you drill and sample it, you are always showing a lower grade than actually exists. Which means regardless of what they say they have for grade, production will in almost all cases show higher values for gold. It’s a good problem to have.

Lion One reported actually starting to mine in a May press release. The company has been predicting actual milling and gold production in the 4th quarter. Chief Operating Officer Patrick Hickey has been struggling to make the 4th quarter goal. He is so far ahead of schedule that there may be some “TRIAL” gold processing in the 3rd quarter, i.e. in a month.

In that May 18th press release there was a vital visual drawing of why grade control is always inaccurate. No matter how you drill, you miss veins. Here is an image from the press release.

The official first gold pour is scheduled for Fiji Day on October 10th in conjunction with a bunch of officials from the government who are thrilled to see a 2nd gold mine getting into production in Fiji. I know of no other jurisdiction where a junior company was able to go from exploration to production with greater support from the host country.

Lion One is on the sweet spot of valuation on the Lassonde Curve as the project begins production. That will give the stock a revaluation based on the risk has been removed from the stock.

The third part of the revaluation will be when gold and gold stocks start their next bull run. I see a general market crash between now and October. It could well take the metals and resource stocks with it. But when the dust settles, gold and gold stocks are going to be the only safe haven in town. The brilliant Bob Hoye is calling for October-November to be a good time to buy shares.

At startup the company is planning on production of 300 tonnes per day. The crushing circuit can do 1,000 TPD but for now the grinding circuit is limited to about 300 TPD. The company has already stockpiled over a two-month supply of material to mill. Plans are in progress to expand production to 500 TPD by September of 2024.

Guess estimates for grade are 6-7 g/t gold for the startup phase but COO Patrick Hickey has his fingers crossed and is hoping for 10 g/t gold. I think I have an understanding of the vein swarms and how they are always undercounted in assays. I’ll climb out on a limb and suggest that they will be doing 13-15 g/t gold a lot sooner than current investors understand.

I’ll make an important comment for investors to know here. I’ve been a small part of this story since Wally brought Quinton Hennigh on board in early 2019. Wally was making progress but it wasn’t visible. Quinton offered a lot of suggestions as to how and where to drill and what changes they needed to make in terms of personnel.

Quinton realized the company needed a professional team on site. He contacted two of the leading guys in mining, Patrick Hickey and Sergio Cattalani and convinced them to come on board. Prior to their entry management was being run out of Perth in Western Australia and frankly that just didn’t work. Investors should read the press release. I am triple impressed with both of them. I shared an hour-long update with Patrick last week. He has things totally under control. He’s the most impressive mine builder I have ever talked to.

Lion One is cashed up to production as a result of the last couple of private placements. Between standard warrants and broker warrants issued with prior placements, there are about 41 million outstanding warrants at prices between $0.77 and $1.49 dated for just over two years. As the warrants are exercised, it will bring in about $53 million. I don’t see cash being a problem for the company. There are about 15 million tradable warrants at $1.25 and I suspect they will add to the liquidity of the company since it allows investors to speculate on the price of the company with a degree of leverage. They expire in November of 2025.

I was in on a call with management of Lion One a week ago after I enquired as to the status of going into production. I was very impressed with the quality of the team and the direction the company is moving. I think the price will soon reflect the quality of management and high-grade of the ore. This should be one of the lowest cost producers in the industry. The government of Fiji is solidly supportive of the company and I see no problems on the horizon at any level.

Lion One has been my largest position for a couple of years now. The company is an advertiser and I couldn’t be more biased. Do your own due diligence.

Lion One Metals
LIO-V $.84 (Aug 22, 2023)
LOMLF OTCQX 206 million shares
Lion One website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Base Metals Energy Granite Creek Copper Junior Mining Metallic Group

Granite Creek Copper Receives Preliminary Metallurgical Results Demonstrating Potential for Significant Additional Copper Recovery

VANCOUVER, BC / ACCESSWIRE / August 23, 2023 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the preliminary results of a metallurgical study designed to increase recovery of copper from oxide material at its Carmacks Copper-Gold-Silver project (“Carmacks Project” or the “Project“)

Kemetco Research Inc. (“Kemetco”) has been contracted to carry out an initial series of scoping tests to evaluate the potential for extraction and recovery of copper from unrecovered copper oxide minerals in Carmacks Project flotation tailings as referenced in the Company’s 2023 Preliminary Economic Assessment (“2023 PEA”) *. Testing involves the leaching of tailings from previous flotation testing of oxidised copper material to dissolve copper into solution and subsequently precipitate copper in a form that could be added to a concentrate being produced by sulphide flotation. The leaching portion of the test work has now been completed with up to 81% of the copper present in the test samples going into solution. The remaining project task, currently underway at Kemetco, is to complete a series of bench tests to evaluate methods for selective recovery of the leached copper from solution. The planned tests will focus on copper sulphide precipitation to target generation of a high-grade copper sulphide product that could potentially be combined with a copper flotation concentrate in an overall production flowsheet, resulting in significant potential increases to both overall copper recovery and the copper grade of the final concentrate product.

The 2023 PEA was based on an average recovery of copper, life of mine (“LOM“) of 64%, with up to 93.7% recovery of copper when processing sulfide material but only 39.8% when processing oxide material. 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 which time over 8.4 million tonnes of oxide material would be processed versus 2.88 million tonnes of sulphide material. Sensitivity analysis completed in the 2023 PEA identified over $180M of Net Present Value (“NPV“) to be gained from a combined sulphide-oxide recovery system by increasing the LOM recovery of copper by 20% from the current projected 64% to 77% total copper recovery.

The material used for the current test consists of tailings from flotation testing of oxide material, where 39.8% recovery of copper was achieved prior to the current leach testing. With up to 81% of the remaining copper going into solution an additional 48% recovery of copper in oxide is possible (81% of remaining 60.2% copper from original test sample) which would increase the total copper recovery of oxide material to over 80% (original 39.8% plus 48%). This could potentially provide a path to exceed the 20% increase in total LOM copper recovery opportunity, which was referenced in the 2023 PEA. While the current work is being conducted on the most representative material available, it should be noted that this work is preliminary in nature and has not yet been tested on a range of potential feed blends.

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 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 oxidised or partially oxidised (POX) copper ores have not been processed by other operators.”

Table 1 Summary of flotation testing results and average values used in PEA.

Granite Creek Copper Ltd., Tuesday, August 22, 2023, Press release picture
Granite Creek Copper Ltd., Tuesday, August 22, 2023, Press release picture

1. Sulphide flotation testing completed by SGS prior to PEA Study see news release dated January 10, 2023.
2. Oxide flotation testing completed by SGS prior to PEA study see news release dated January 10, 2023.
3. Calculated LOM average recovery based on a regression curve dependant on oxide content.
4. Projected target based on successful completion of current testing.

Table 2 2023 – PEA Copper Recovery Sensitivity Table

Granite Creek Copper Ltd., Tuesday, August 22, 2023, Press release picture
Granite Creek Copper Ltd., Tuesday, August 22, 2023, Press release picture

BCSC continuous disclosure review.

Following a recent review of Granite Creek’s continuous disclosure by the British Columbia Securities Commission, the Company provides the following corrections:

In a news release dated January 19, 2023, announcing the completion of the PEA, the Company stated, “The PEA indicates that the potential economic returns from the Project justify advancing to a feasibility study”. This statement could be construed that the Company is treating the PEA as a pre-feasibility level study, which is not the case. While the Company maintains that the PEA was positive, additional work will need to be done before a full feasibility study could be initiated. The Company also wishes to retract to word “robust” when describing the economics of the Project as this may be misleading to some readers. Granite Creek has also added the following cautionary language to materials that are disseminated to the public including the Company’s corporate presentation, fact sheet and website. “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.” The Company encourages the reader to reference the NI 43-101 technical report entitled CARMACKS PROJECT PRELIMINARY ECONOMIC ASSESMENT (PEA) YUKON, CANADA, available on SEDAR and the Company’s website for further details on the Project.

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 contained in this news release. Mr. Warkentin is a Senior Metallurgist with Kemetco Research and an advisor to the Company.

About Granite Creek Copper

Granite Creek Copper, a member of the Metallic Group of Companies, is a Canadian exploration company 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.

* 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.

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 source version on accesswire.com:
https://www.accesswire.com/776152/Granite-Creek-Copper-Receives-Preliminary-Metallurgical-Results-Demonstrating-Potential-for-Significant-Additional-Copper-Recovery

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Updates Drill Results at Tuvatu

High grade composite results increased in Zone 5 drilling

North Vancouver, British Columbia–(Newsfile Corp. – August 15, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is issuing an update on composite drill results reported in the Company’s August 10, 2023 news release.

The August 10, 2023 news release reported infill and grade control drill results from Zone 5 of the Company’s Tuvatu alkaline gold project in Fiji. Several composite gold grades reported in that news release are here updated.

Gold analysis at Tuvatu is conducted using fire assay with an atomic absorption (AA) finish. Samples that return grades over 10 g/t Au are then re-analyzed by gravimetric method. The gravimetric method is considered more accurate than fire assay for high-grade samples. Lion One has therefore recently adopted a new protocol whereby gravimetric results are reported for samples that return over 10 g/t Au. In the August 10, 2023 news release, composite intervals were calculated using fire assay values rather than gravimetric values, whereas high-grade individual assays were quoted using the more accurate gravimetric results. This led to a discrepancy between the composite values and the underlying assay values for certain intervals. The difference between fire assay and gravimetric analyses tends to be greater for higher grade samples. A total of 21 composite values have been updated and are presented in Table 1 below. The majority of the updated results are greater than was initially reported.

Table 1. Updated composite intervals from Zone 5 infill and grade control drilling. Bolded text represents a positive change, italicized text represents a negative change. Intervals are ordered by decreasing gold content.

Hole IDFromToInterval (m)Updated Au (g/t)Original Au (g/t)Change (g/t)
TGC-006748.2501.8314.27261.9352.34
TUDDH-643242.7249.36.683.4780.782.69
TGC-006753.354.20.9104.0093.0510.95
TUDDH-643111.6114.93.318.4017.480.92
TUDDH-643161.7163.21.516.1315.960.17
TUDDH-638254.72572.310.259.410.84
TUDDH-643101.9103.11.213.5013.130.37
TUDDH-643123.41240.625.1925.95-0.76
TGC-0061219.2220.41.210.318.321.99
TUDDH-63745.345.60.335.9836.2-0.22
TUDDH-64352.252.50.331.8733.51-1.64
TUDDH-64455.858.22.43.433.40.03
TGC-006553.155.22.13.913.820.09
TUDDH-63449.250.71.55.445.68-0.24
TUDDH-637216.42170.611.6310.990.64
TGC-0065128.5129.40.97.426.80.62
TGC-006557.458.30.97.016.880.13
TUDDH-634154.9155.20.314.9615.17-0.21
TUDDH-656173.6173.90.311.6610.141.52
TGC-0059220.3220.60.310.8712.85-1.98
TGC-0058133.4133.70.310.8610.370.49

Tables 2 and 3 below are reproductions of Tables 1 and 2 from the August 10, 2023 news release updated to include composite intervals calculated using assay results from the gravimetric method. Composite values that have been changed are highlighted with bolded text representing positive changes and italicized text representing negative changes. Values with no bolding or italicization represent intervals for which there is no change.

Table 2. Highlights of composited infill drill results in the Zone 5 area. Reproduction of Table 1 from the August 10, 2023 news release, with updated composite grades. For full results see Table 4 in the appendix.

Hole IDFromToInterval (m)Au (g/t)Change (g/t)
TUDDH-634123.41240.625.19-0.76
TUDDH-637161.7163.21.516.130.17
including161.7162.30.638.62
which includes161.71620.372.46
TUDDH-637198.2202.13.95.38
including198.2198.50.310.02
and199.7200.60.93.42
and201.2202.10.916.13
which includes201.8202.10.340.21
TUDDH-643111.6114.93.318.40.92
including111.6113.72.128.44
which includes113.1113.70.695.63
TUDDH-643242.7249.36.683.472.69
including242.7246.33.617.39
which includes243.9245.71.855.49
which includes243.9244.50.679.84
and245.1245.70.614.89
and also including247.5249.31.8271.14
which includes247.5247.80.340.03
and248.7249.60.6793.24
TUDDH-643254.72572.310.250.84
including254.7255.30.635.54
TUDDH-650192.6194.11.514.93
including192.6193.50.923.89
TUDDH-650203.5207.43.911.84
including203.5204.71.235.18
which includes203.5204.10.648.27
and204.1204.70.622.09
TUDDH-651184.6185.20.632.65
TUDDH-651194.5197.22.717.2
including194.51961.525.92
which includes195.4195.70.3124.52
and also including196.9197.20.325.22
TUDDH-6535356.93.99.53
including55.156.91.819.47
which includes5656.30.346.92
and56.656.90.355.08
TUDDH-65389.596.36.89.96
including91.392.20.966.62
which includes91.691.90.3165.95
and91.992.20.330.46
TUDDH-65596.497.91.58.24
including96.7970.318.48
and97.697.90.320.77
TUDDH-656101.9103.11.213.50.37
including101.9102.50.619.73
and102.5103.10.66.54

Table 3. Highlights of composited grade control drill results in the Zone 5 area. Reproduction of Table 2 from the August 10, 2023 news release, with updated composite grades. For full results see Table 5 in the appendix.

Hole IDFromToInterval (m)Au (g/t)Change (g/t)
TGC-005957.458.30.97.010.13
including57.457.70.312.89
and5858.30.38.14
TGC-006155.858.22.43.430.03
including57.337.60.312.84
TGC-006545.345.60.335.98-0.22
TGC-006549.250.71.55.44-0.24
including49.249.50.39.59
and50.450.70.315.76
TGC-006552.252.50.331.87-1.64
TGC-006748.2501.8314.2752.34
including48.849.40.6934.91
which includes48.849.10.31839.55
and49.149.40.330.26
TGC-006753.354.20.910410.95
including53.353.90.6155.68
which includes53.353.60.310.89
and53.653.90.3300.47



Figure 1. Location of Zone 5 Infill and Grade Control Drillholes. Reproduced from August 10, 2023 news release for context. Left image: Plan view of Tuvatu showing Zone 5 infill and grade control drillholes in relation to the mineralized lodes. Drillholes are shown in black, mineralized lodes in pale grey, and underground developments in red. The yellow dashed square represents the area illustrated in the image on the right. Right image: Oblique view of Zone 5 infill and grade control drilling looking approximately northeast. Infill drilling was conducted from surface whereas grade control drilling was conducted from underground.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/177254_5cfe2f3d644c0822_001full.jpg



Figure 2. Location of High-Grade Intercepts from Zone 5 Drilling. Updated figure from the August 10, 2023 news release, with updated composite gold intervals. Composite intervals with grades between 3 and 10 g/t Au are shown in yellow, intervals with grades between 10 and 30 g/t Au are shown in red, and intervals over 30 g/t Au are shown in purple. Select high-grade intervals are identified. Image is looking approximately north-northeast, grades are gold grades in g/t.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/177254_5cfe2f3d644c0822_002full.jpg

About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of Lion One Metals Limited
Walter Berukoff“, Chairman and CEO

Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

Table 4. Updated composite results from infill drillholes in the Zone 5 area (grade >0.5 g/t Au). Bolded text indicates a positive change from the originally reported value, italicized text represents a negative change.

Hole IDFromToInterval (m)Au (g/t)Change (g/t)
TUDDH-63492.292.80.60.52
TUDDH-63493.794.30.60.5
TUDDH-634123.41240.625.19-0.76
TUDDH-634125.2125.50.31
TUDDH-634128.5129.40.97.420.62
TUDDH-634including129.1129.40.310.89
TUDDH-634148.5149.10.61.46
TUDDH-63748.248.80.60.6
TUDDH-63768.869.40.60.81
TUDDH-637161.7163.21.516.130.17
TUDDH-637including161.7162.30.638.62
TUDDH-637which includes161.71620.372.46
TUDDH-637173.1177.64.52.69
TUDDH-637including173.11740.98.59
TUDDH-637180182.12.12.7
TUDDH-637183.9187.53.62.76
TUDDH-637including185.7187.51.85.03
TUDDH-637198.2202.13.95.38
TUDDH-637including198.2198.50.310.02
TUDDH-637and199.7200.60.93.42
TUDDH-637and201.2202.10.916.13
TUDDH-637which includes201.8202.10.340.21
TUDDH-637219.2220.41.210.311.99
TUDDH-637including219.5220.40.912.79
TUDDH-637222.2222.50.32.29
TUDDH-637224226.42.41.87
TUDDH-637243.52451.51.13
TUDDH-637251.3253.72.42.46
TUDDH-637258.5259.10.60.94
TUDDH-637281.9282.50.65.96
TUDDH-637290.9292.11.21.97
TUDDH-637298.7299.60.96.68
TUDDH-63814.214.80.61.31
TUDDH-63829.830.40.61.29
TUDDH-638106.9107.20.30.99
TUDDH-638123.1123.70.61.44
TUDDH-638154.9155.20.314.96-0.21
TUDDH-638162.4163.30.93.19
TUDDH-638166.3167.51.26.23
TUDDH-638including166.3166.90.68.43
TUDDH-638169.9171.71.83.6
TUDDH-638including170.8171.70.96.07
TUDDH-638179.8181.31.51.62
TUDDH-638235.9236.50.60.87
TUDDH-638241.3242.51.24.8
TUDDH-638including241.9242.50.69.06
TUDDH-63950.350.60.35.17
TUDDH-641153153.70.72.78
TUDDH-641including153153.30.35.1
TUDDH-641174.5174.80.30.57
TUDDH-641176.9178.71.82.32
TUDDH-641including176.9177.50.65.1
TUDDH-643111.6114.93.318.40.92
TUDDH-643including111.6113.72.128.44
TUDDH-643which includes113.1113.70.695.63
TUDDH-643133.4133.70.310.860.49
TUDDH-643158.8159.10.30.83
TUDDH-643163.3163.90.65.3
TUDDH-643173.6173.90.311.661.52
TUDDH-643213.7214.60.90.61
TUDDH-643216.42170.611.630.64
TUDDH-643233.8234.40.65.48
TUDDH-643242.7249.36.683.472.69
TUDDH-643including242.7246.33.617.39
TUDDH-643which includes243.9245.71.855.49
TUDDH-643which includes243.9244.50.679.84
TUDDH-643and245.1245.70.614.89
TUDDH-643and also including247.5249.31.8271.14
TUDDH-643which includes247.5247.80.340.03
TUDDH-643and248.7249.60.6793.24
TUDDH-643251.7252.91.20.97
TUDDH-643254.72572.310.250.84
TUDDH-643including254.7255.30.635.54
TUDDH-643260.4261.30.90.69
TUDDH-643262.8266.13.31.63
TUDDH-643268.3268.80.51.3
TUDDH-644172.31752.72.33
TUDDH-644including173.8174.40.65.83
TUDDH-644208.6208.90.34.37
TUDDH-644220.3220.60.310.87-1.98
TUDDH-644237.1237.70.61.19
TUDDH-646116.7117.30.61.65
TUDDH-646154.8155.10.30.67
TUDDH-646181.5183.31.82.41
TUDDH-646including183183.30.313.29
TUDDH-646223.9224.50.68.98
TUDDH-646including224.2224.50.315.09
TUDDH-646231.1233.22.14.23
TUDDH-646including232232.60.610.27
TUDDH-646252.3252.70.42.81
TUDDH-646253.9254.20.32.16
TUDDH-64924.925.20.31.93
TUDDH-649153.6154.20.60.74
TUDDH-649161.7162.30.60.52
TUDDH-649188.1190.82.71.21
TUDDH-649248.7249.30.61.17
TUDDH-649251.4252.30.90.86
TUDDH-649257.1257.40.33.31
TUDDH-65053.653.90.30.61
TUDDH-65076.7770.30.62
TUDDH-650104.1104.40.30.67
TUDDH-650148.5149.10.60.51
TUDDH-650179.1179.40.31.62
TUDDH-650180.6181.20.60.51
TUDDH-650192.6194.11.514.93
TUDDH-650including192.6193.50.923.89
TUDDH-650199199.30.31.66
TUDDH-650203.5207.43.911.84
TUDDH-650including203.5204.71.235.18
TUDDH-650which includes203.5204.10.648.27
TUDDH-650and204.1204.70.622.09
TUDDH-650210.4210.70.32.05
TUDDH-65118.2518.850.60.93
TUDDH-65180.5581.150.62.09
TUDDH-651100.65100.950.31.46
TUDDH-651118.65119.250.61.46
TUDDH-651139.95140.550.64.39
TUDDH-651184.6185.20.632.65
TUDDH-651194.5197.22.717.2
TUDDH-651including194.51961.525.92
TUDDH-651which includes195.4195.70.3124.52
TUDDH-651and also including196.9197.20.325.22
TUDDH-651222.4224.82.42.22
TUDDH-65300.60.63.37
TUDDH-65321.922.20.31.26
TUDDH-6535356.93.99.53
TUDDH-653including55.156.91.819.47
TUDDH-653which includes5656.30.346.92
TUDDH-653and56.656.90.355.08
TUDDH-65364.4650.60.56
TUDDH-65389.596.36.89.96
TUDDH-653including91.392.20.966.62
TUDDH-653which includes91.691.90.3165.95
TUDDH-653and91.992.20.330.46
TUDDH-653111.6111.90.36.53
TUDDH-653116.7118.82.11.59
TUDDH-653120120.60.60.59
TUDDH-65559.761.51.82.74
TUDDH-65596.497.91.58.24
TUDDH-655including96.7970.318.48
TUDDH-655and97.697.90.320.77
TUDDH-65599.199.70.60.9
TUDDH-655101.5102.10.61.23
TUDDH-655118.3118.60.33.16
TUDDH-655126.1126.70.61.04
TUDDH-65627.228.41.20.89
TUDDH-6567777.60.61.05
TUDDH-65680.681.20.60.7
TUDDH-656101.9103.11.213.50.37
TUDDH-656including101.9102.50.619.73
TUDDH-656and102.5103.10.66.54
TUDDH-656106.71070.30.58
TUDDH-656119.6119.90.31.71
TUDDH-656130.1132.52.44.83
TUDDH-656including131.9132.50.67.99
TUDDH-656162.5162.80.38.55

Table 5. Updated composite results from grade control drillholes in the Zone 5 area (grade >0.5 g/t Au). Bolded text indicates a positive change from the originally reported value, italicized text represents a negative change.

Hole IDFromToInterval (m)Au (g/t)Change (g/t)
TGC-005626.729.42.71.52
TGC-005638.138.40.32.31
TGC-005639.639.90.30.73
TGC-005834.234.80.60.66
TGC-005835.435.70.30.51
TGC-005848.348.60.34.83
TGC-005853.155.22.13.910.09
TGC-0058including53.1540.98.74
TGC-005856.4570.61.1
TGC-005939.440.30.90.53
TGC-005950.550.80.33.1
TGC-005953.254.41.20.88
TGC-005957.458.30.97.010.13
TGC-0059including57.457.70.312.89
TGC-0059and5858.30.38.14
TGC-006134.234.50.30.69
TGC-006135.4360.60.75
TGC-006145.646.81.20.56
TGC-006149.850.40.60.84
TGC-006155.858.22.43.430.03
TGC-0061including57.337.60.312.84
TGC-006529.7300.30.61
TGC-006532.433.61.22.44
TGC-006545.345.60.335.98-0.22
TGC-006549.250.71.55.44-0.24
TGC-0065including49.249.50.39.59
TGC-0065and50.450.70.315.76
TGC-006552.252.50.331.87-1.64
TGC-006723.623.90.31.06
TGC-006748.2501.8314.2752.34
TGC-0067including48.849.40.6934.91
TGC-0067which includes48.849.10.31839.55
TGC-0067and49.149.40.330.26
TGC-006753.354.20.910410.95
TGC-0067including53.353.90.6155.68
TGC-0067which includes53.353.60.310.89
TGC-0067and53.653.90.3300.47
TGC-006763.263.80.62.89
TGC-006767.167.40.39.18

Table 6. Collar coordinates for grade control and infill drillholes reported in this release. Coordinates are in Fiji map grid.

Hole IDEastingNorthingElevationAzimuthDipDEPTH
TGC-00561876439392058311779.6121.29.5
TGC-00581876438392058311662.2124.6-11.3
TGC-00591876438392058311674.1122.5-22.0
TGC-00611876438392058211882.8142.620.1
TGC-00651876438392058211771.2133.210.6
TGC-00671876437392058111886.9155.612.4
TUDDH-63418765283920501310182.5257.6-55.3
TUDDH-63718765573920389352320.3292.0-60.5
TUDDH-63818765093920445349257.5294.3-66.4
TUDDH-6391876556392038935256.6297.3-57.0
TUDDH-64118764773920293402185.7309.3-66.1
TUDDH-64318765563920389352274.8297.1-63.4
TUDDH-64418764763920293402248.5307.0-64.3
TUDDH-64618765573920388352270.5283.6-63.1
TUDDH-64918764763920294402262.3315.7-66.5
TUDDH-65018765393920395352230.8283.0-52.0
TUDDH-65118765393920395352240.3293.5-53.3
TUDDH-65318764963920546296131.4281.2-46.3
TUDDH-65518764963920546296151.7282.7-51.5
TUDDH-65618765393920395352215.3306.9-52.2

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/177254