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Lion One Expands Gold Mineralization at Tuvatu Mine in Fiji

Post author By admin
Post date July 27, 2023

Wall Sampling Returns 18.70 g/t Au over 17.8 m, Peak Value of 150.77 g/t Au

North Vancouver, British Columbia–(Newsfile Corp. – July 27, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report high-grade gold results from underground sampling and announces the expansion of gold mineralization at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Sampling along the walls of the URW1a and URW1b mine drives at Tuvatu has returned high-grade gold results, indicating that the gold mineralization associated with both the URW1a and URW1b lodes extends beyond the walls of the current drives. As reported on July 13, 2023, the grades associated with the URW1a and URW1b lodes are higher than anticipated and the results reported here indicate that the high-grade gold mineralization associated with these lodes is also greater in width than that which was estimated from drilling.

Highlights of wall sampling, parallel to sub-parallel to strike-drives, on URW1a and URW1b:

18.70 g/t Au over 17.8 m (including 91.15 g/t Au over 1.0m) (URW1b – Right Wall)
32.34 g/t Au over 10 m (including 149.86 and 80.11 g/t Au over 1.0m each) (URW1b – Left Wall)
17.11 g/t Au over 18 m (including 150.77 g/t Au over 1.0m) (URW1a – Right Wall)
20.72 g/t Au over 11 m (including 107.56 g/t Au over 1.0m) (URW1a – Left Wall)
24.76 g/t Au over 7 m (including 67.06 g/t Au over 1.0m) (URW1a – Left Wall)

Lion One Chairman and CEO Walter Berukoff commented: “We’re very pleased with the results from our wall sampling program. The program was initiated following the identification of coarse visible gold in veinlets in the walls of both the URW1a and URW1b mine drives. The results indicate that there is significant gold mineralization present in the walls of both drives, and that the mineable width of both drives is therefore considerably wider than we expected based on drill results. An investigation is now underway to determine how far this additional gold mineralization extends into the walls of both drives and how much additional high-grade material we can expect to mine from these lodes. Mining is ongoing in both drives and we’re hopeful that this additional gold mineralization will provide a further boost to our growing stockpile in advance of our plant commissioning later this year.”

Wall Sampling

Table 1. Highlights of Wall Sampling, parallel/subparallel to strike drives from the URW1a and URW1b lodes

Location		From	To	Interval (m)	Au (g/t)
URW1a Left Wall		0	7	7	24.76
	including	0	2	2	46.71
	which includes	1	2	1	67.06
	and also including	3	6	3	24.65
URW1a Left Wall		12	29	17	14.55
	including	18	29	11	20.72
	which includes	18	22	4	17.54
	and	23	26	3	50.84
	which includes	25	26	1	107.56
URW1a Right Wall		9	27	18	17.11
	including	9	10	1	35.90
	and	11	12	1	10.46
	and	13	24	11	23.54
	which includes	15	22	7	35.47
	which includes	15	16	1	150.77
URW1b Left Wall		2	12	10	32.34
	including	6	8	2	76.85
	which includes	6	7	1	149.86
	and also including	9	12	3	54.50
	which includes	9	10	1	80.11
	and	10	11	1	23.20
	and	11	12	1	60.18
URW1b Left Wall		14	19	5	7.48
	including	14	17	3	11.51
URW1b Right Wall		0	17.8	17.8	18.70
	including	5.8	10.8	5	30.24
	which includes	5.8	6.8	1	27.71
	and	9.4	9.8	0.4	50.76
	and	9.8	10.8	1	91.15
	and also including	11.8	17.8	6	28.57
	which includes	14.8	17.8	3	44.53

Figure 1. Location of the URW1a and URW1b lodes in relation to the Tuvatu system. Mining is progressing north along both the URW1a lode (modelled in purple) and the URW1b lode (modelled in green). Inset image shows the location of the URW1a and URW1b lodes in relation to the Tuvatu system, with all other lodes shown in pale grey. Underground developments are shown in red. The dashed black square is the area highlighted in Figure 2. The URW1 mineralized trend has a N-S strike length of approximately 300 m and a vertical extent also of approximately 300 m. The URW1a and URW1b lodes occupy approximately 75m of this mineralized strike length. Extensional drilling is ongoing.

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Figure 2. Location of URW1a and URW1b wall samples. Yellow lines indicate the location of the wall sample lines in relation to the URW1a and URW1b mine drives, shown in red. Sample lines start with 0 m at the southern (bottom) end of the mine drives and progress north along the drives. Yellow arrows indicate the possible expansion of the mine drives, pending investigation into the lateral extent of additional gold mineralization.

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Mining of the URW1 lodes has been ongoing since May 18th, 2023 and is being conducted through the use of airleg mining. Airleg mining is a very precise method of mining which is ideal for narrow vein mineralization such as at Tuvatu as it enables the extraction of the vein material with minimal dilution.

As mining progressed along the URW1a and URW1b lodes, gold mineralization was identified within narrow stockwork-style veining in the walls of both drives following extraction. A systematic program of wall sampling was therefore initiated to determine the extent of gold mineralization along the walls. Samples were collected at approximately 1m intervals along the entire length of both the lefthand and righthand walls of both the URW1a and URW1b mine drives. The samples were collected by chipping material off the face of the wall along a continuous horizontal line irrespective of veining, mineralization, alteration, or lithology. The sampling results are therefore considered representative of the wall material.

The wall sampling results indicate significant gold mineralization is present in the walls of both the URW1a and URW1b mine drives, yet the lateral extent of this mineralization is unknown. An investigation is underway to determine how far mineralization extends beyond the current walls of the drives and how much additional material can be mined from these drives. Information gained from this investigation will then be applied to adapt the mine design for these lodes moving forward. As a general strategy, the early recognition of gold-bearing stockwork-style veining beyond the primary vein is significant as it provides the opportunity for the mining team to take advantage of increased mining volumes early in the life of the mine. The mining method at Tuvatu is being assessed locally and where it can be demonstrated to be beneficial a switch from airleg to mechanized mining will be considered. The effect of mechanized mining as compared to airleg mining is that it has a higher production rate but wider minimum mining widths. It is therefore efficient for wide zones of mineralization but increases dilution in narrow zones.

Modes of Mineralization at URW1 lodes

The discovery of widespread gold mineralization in the walls of the URW1a and URW1b mine drives has indicated that high-grade gold mineralization extends for several meters on either side of the main URW1 lodes. This has led to an increased understanding of the gold grade distribution in this portion of the Tuvatu deposit. It is well established that high-grade gold mineralization at Tuvatu occurs within the main subvertical lodes, such as the URW1a and URW1b lodes, which are likely the primary fluid-flow pathways in this part of the system. Results from the wall sampling program confirm the presence of a secondary, but no less important, mode of occurrence of gold mineralization of considerable significance. This second mode of mineralization occurs as a network of stockwork-style veining that forms a halo of metric extent peripheral to the main sub-vertical lodes (Figure 3).

Figure 3. Example of grade distribution in URW1a. Photo of the face of the URW1a mine drive at approximately 24 m into the drive. The main lode is shown to the right of the photo within the dashed yellow lines. Stockwork style veining is shown to the left of the main lode, with some of the veining highlighted by dashed orange lines. Gold grades from face sampling are shown in white, while gold grades from the wall sampling at this location are shown in orange. The main lode at this part of the drive is quite close to the righthand wall of the drive so we can see that high-grade gold in the form of stockwork style veining extends at least 2 m to the lefthand wall of the drive, where wall sampling returned a grade of 24.00 g/t Au. High grade material at this location therefore extends beyond the lefthand wall, as well as beyond the righthand wall where the wall sample returned 10.22 g/t Au. The lateral extent of high-grade mineralization peripheral to the main subvertical lodes is currently unknown.

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Gold mineralization in the main lodes typically occurs within chalcedonic quartz veins both as native gold resulting from fluid flashing events and as a very fine-grained gold overprint in association with coarse grained pyrite and sphalerite. Gold mineralization within the halo of stockwork-style veining around the main lode occurs as native gold within a network of thin (<1 cm wide) quartz veinlets (Figure 4). The discovery of this second form of gold mineralization represents a potentially significant upside for gold grades and tonnage at the URW1a and URW1b lodes, and possibly for Tuvatu as a whole.

Figure 4. Examples of different visible gold-bearing veinlets identified during sampling. Examples of thin, visible gold-bearing veinlets from stockwork-style veining peripheral to the URW1a and URW1b main lodes. Scratcher pen used for scale.

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CAUTIONARY STATEMENT

Visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where metal concentrations or grades are the factors of principal economic interest. At Tuvatu, coarse visible gold generally correlates well to high-grade mineralization. However, the actual grades can only be determined by systematic sampling and assaying.

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: Complete Wall Sample Results and Location Information

Table 2. Wall Sample results from the URW1a lode

URW1a – Left Wall				URW1a – Right Wall
From	To	Interval (m)	Au g/t	From	To	Interval (m)	Au g/t
0	1	1	26.36	0	1	1	0.94
1	2	1	67.06	1	2	1	5.25
2	3	1	1.4	2	3	1	1.04
3	4	1	39.56	3	4	1	2.84
4	5	1	17.43	4	5	1	1.45
5	6	1	16.96	5	6	1	9.39
6	7	1	4.57	6	7	1	0.13
7	8	1	0.01	7	8	1	0.01
8	9	1	0.28	8	9	1	0.73
9	10	1	0.04	9	10	1	35.9
10	11	1	0.15	10	11	1	0.13
11	12	1	0.01	11	12	1	10.46
12	13	1	9.01	12	13	1	0.21
13	14	1	3.36	13	14	1	4.39
14	15	1	0.01	14	15	1	1.63
15	16	1	4.24	15	16	1	150.77
16	17	1	2.52	16	17	1	14.19
17	18	1	0.28	17	18	1	12.77
18	19	1	37.88	18	19	1	23.02
19	20	1	1.34	19	20	1	11.57
20	21	1	6.93	20	21	1	10.22
21	22	1	24	21	22	1	25.76
22	23	1	1.43	22	23	1	2.48
23	24	1	7.93	23	24	1	2.16
24	25	1	37.03	24	25	1	0.37
25	26	1	107.56	25	26	1	1.35
26	27	1	1.97	26	27	1	0.54
27	28	1	0.14	27	28	1	0.11
28	29	1	1.73	28	29	1	0.04
29	30	1	0.21	29	30	1	3.31
30	31	1	0.01	30	31	1	0.06

Table 3. Wall Sample results from the URW1b lode

URW1b – Left Wall				URW1b – Right Wall
From	To	Interval (m)	Au g/t	From	To	Interval (m)	Au g/t
0	1	1	0.00	0	1	1	0.73
1	2	1	0.48	1	2	1	3.02
2	3	1	1.17	2	2.8	0.8	1.33
3	4	1	2.21	2.8	3.8	1	3.41
4	5	1	2.62	3.8	4.8	1	1.67
5	6	1	0.20	4.8	5.8	1	0.12
6	7	1	149.86	5.8	6.8	1	27.71
7	8	1	3.83	6.8	7.4	0.6	5.14
8	9	1	0.00	7.4	8.4	1	3.96
9	10	1	80.11	8.4	9.4	1	5.01
10	11	1	23.20	9.4	9.8	0.4	50.76
11	11.2	0.2	27.14	9.8	10.8	1	91.15
11.2	12	0.8	68.44	10.8	11.8	1	0.17
12	13	1	0.00	11.8	12.8	1	6.4
13	14	1	0.00	12.8	13.8	1	19.68
14	15	1	12.00	13.8	14.8	1	11.76
15	16	1	12.36	14.8	15.8	1	47.29
16	17	1	10.19	15.8	16.8	1	49.02
17	18	1	0.82	16.8	17.8	1	37.29
18	19	1	2.03
19	20	1	0.00
20	21	1	0.00
21	22	1	2.16

Table 4. Coordinates for wall sample lines reported in this release, using the end of the sample line as the reference point (i.e. the northern most point). Coordinates are in Fiji map grid.

Sample Line	Easting (m)	Northing (m)	Elevation (m)	Sample Line Length
URW1a – Left Wall	1876335	3920735	141	31
URW1a – Right Wall	1876338	3920736	141	31
URW1b – Left Wall	1876347	3920738	142	22
URW1b – Right Wall	1876350	3920737	142	17.8

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Pumpkin Hollow Underground Drill Program Extends Mineralization Highlighted by 36.5 feet of 2.46% Copper

Post author By admin
Post date July 26, 2023

Update on Underground and Regional Exploration Opportunities

Figure 1

Figure 2

Property Map with Exploration Target Locations

Figure 3

Figure 4

YERINGTON, Nev., July 26, 2023 (GLOBE NEWSWIRE) — Nevada Copper (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) today provides an update on its 2023 regional and underground exploration plans and recent exploration results at its approximate 36 square mile Pumpkin Hollow property located in Yerington, NV.

Randy Buffington, President & CEO, commented, “The Pumpkin Hollow property is a significant land package, in a well-known copper belt, in a strong mining jurisdiction and with substantial mineral resources already identified. These recent underground drill results indicate expansion to known copper mineralization. Additionally, our review of historical data, coupled with recent surface sampling and analysis, has identified several targets of interest that warrant follow-up. Our team is currently focused on bringing the underground back into operation, including completion of the remaining capital projects, and advancing development activities, both of which are well underway. The planned start-up of milling operations and concentrate sales in Q3 2023 is on track with targeted nameplate milling rates of 5,000 tons per day expected to be achieved by the end of 2023. With a significant portion of the property located on private land, we are in a rare position to quickly take advantage of growth opportunities once we achieve steady state underground operations.”

2023 Underground Drilling Highlights

Approximately 31,500 feet of drilling planned (approximately US$5 million program).
Approximately 4,900 feet drilled to date with one drill rig, and a second drill rig recently deployed.
Results of drilling indicate mineralization extension in the ES zone (see Figure 1), including 36.5 feet of 2.46% copper within a larger interval of 99 feet of 1.4% copper (Cu) in hole NC23U-007. Other notable results include:

DDH ID	From (ft)	To (ft)	Length (ft)	Cu %	Ag gpt	Au gpt
NC23U-002	14	24	10	1.62	14.200	0.251
NC23U-002	294	304.8	10.8	1.76	8.402	0.132
NC23U-004	60	70	10	1.63	11.600	0.316
NC23U-005	128	143	15	1.26	9.913	0.267
NC23U-006	68.4	79.8	11.4	1.27	5.738	0.165
NC23U-007	246	344.5	98.5	1.4	3.558	0.144
including	*300*	*336.5*	*36.5*	*2.46*	*5.342*	*0.318*
NC23U-008	123.5	155	31.5	1.59	4.342	0.264
NC23U-008	425	435	10	1.56	3.250	0.190
NC23U-008	445	480	35	1.82	3.986	0.291
NC23U-009	188	203	15	1.32	1.433	0.087
gpt = grams per tonne; Ag = silver

The 2023 East North (EN) and East South (ES) underground drill program began in the first quarter of 2023 and is focused on stope definition drilling and near-mine resource expansion targets. Drilling is expected to continue in the ES and EN zone through the remainder of the year. The deposit remains open in all directions.

The Pumpkin Hollow property has not been extensively explored in the past as the Company was focused on developing the known mineral resources, resulting in the development of the underground mine and advancement of the open pit project. Recent drone magnetic surveys have identified several high-quality targets of interest. Surface reconnaissance targeting these high-quality areas demonstrates that these targets have the potential to host additional independent mineralized systems, outside of the existing deposits.

New Area Identified in Pumpkin Hollow Site Wide Exploration – Dimples

Nevada Copper has identified a new exploration target, the Dimples target, located just south of the proposed open pit area in the southern area of the property (Figure 2). Analysis of recent surface grab samples has returned encouraging results including gold values of up to 61 gpt gold (Au). A total of 55 grab samples have been collected in 2023 with 42 of those samples returning gold values greater than 0.1 gpt Au and 14 samples being greater than 1 gpt Au, in quartz rich veins within granodiorite porphyry (Figure 3). Higher-grade copper was identified in eleven samples, with values greater than 1.0% Cu (Figure 4). High-grade copper rich zones are found in the granodiorite porphyry veins as well as skarns within metavolcanics. The Mesozoic rocks in the area are dominated by granodiorite porphyries and metavolcanics.

Additional News from the Copper Ridge Target

Surface sampling results from surface outcrops and prospect pits in the Copper Ridge area have indicated a potential for high-grade copper, highlighted by grades including 5.03% and 5.43% Cu. The Copper Ridge property is located north of the main Pumpkin Hollow property covered by 103 hectares through unpatented and patented claims. The target was mined for high-grade copper in the early 1900’s through several adits as well as a 122-meter inclined shaft.

The 2023 program is designed to follow-up on historic reconnaissance work completed in the early 1990s by a major copper company and has the potential to provide additional high-grade feed for the existing underground mill. A total of 70 historic and new rock samples were collected to confirm and extend the known mineralization along the vein and dike structures in the Yerington Batholith granodiorites. Forty-four samples assayed greater than 0.1% copper. Samples greater than 2.0% Cu were summarized in Table 1 of the Company’s February 13^th, 2023, news release.

Follow-up trenching and a reverse circulation drill program are planned to further evaluate these high potential targets.

The grades identified in this press release are conceptual in nature as there has not been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the delineation of a mineral resource.

Qualified Person
The technical information and data in this news release has been reviewed by Greg French, C.P.G., VP Exploration of Nevada Copper, who is a non-independent Qualified Person within the meaning of NI 43-101.

Quality Assurance and Quality Control
The analytical work referred to herein was performed by American Assay Labs (AAL) located in Sparks, Nevada. AAL is an ISO/IEC 17025 accredited laboratory. The Samples were crushed so that >80% passes 10 mesh, followed by pulverizing to >90% passes 75 < 150 mesh. Prepared samples were run using a three-acid digestion process and conventional ICP-AES analysis. Gold determination was via standard atomic absorption (AA) finish 30-gram fire-assay (FA) analysis. Blank, standard and duplicate samples were routinely inserted and monitored for quality assurance and quality control.

The historic analytical work was performed by Chemex Labs Inc. and ALS Minerals, currently ALS Geochemistry (ALS) located in Nevada. ALS is an ISO/IEC 17025 accredited laboratory. The samples were crushed so that >80% passes 10 mesh, followed by pulverizing split to < 150 mesh. Prepared samples were run using an acid digestion process and conventional ICP-AES analysis. Gold determination was via standard atomic absorption (AA) finish 30-gram fire-assay (FA) analysis.

Nevada Copper detected no significant QA/QC issues during review of the data and is not aware of any sampling or other factors that could materially affect the accuracy or reliability of the data referred to herein.

About Nevada Copper

Nevada Copper (TSX: NCU) is the owner of the Pumpkin Hollow copper project located in Nevada, USA with substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is expected to restart milling operations in 2023, and a large-scale open pit PFS stage project.

Randy Buffington
President & CEO

For additional information, please see the Company’s website at www.nevadacopper.com, or contact:

Tracey Thom | Vice President, IR and Community Relations
tthom@nevadacopper.com
+1 775 391 9029

Figure 1 – Recent Underground Drilling

*Grey holes – assays pending

Figure 2 – Property Map with Exploration Target Locations

Figure 3 – Dimples Sampling (Gold)

Figure 4 – Dimples Sampling (Copper)

Cautionary Language on Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such forward-looking information and forward-looking statements specifically include, but are not limited to, statements that relate to future exploration and the potential outcome of exploration programs, development and restart and ramp-up plans and activities at the Underground Mine and the timing in respect thereof.

Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Such risks and uncertainties include, without limitation, those relating to: results of exploration programs, requirements for additional capital and no assurance can be given regarding the availability thereof; the ability of the Company to complete the restart and ramp-up of the Underground Mine within the expected cost estimates and timeframe; the impact of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and restart and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and restart and ramp-up of the Underground Mine; loss of material properties; interest rate increases; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labour disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; dependence on management information systems and cyber security risks; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2022 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 20, 2023. The forward-looking statements and information contained in this news release are based upon assumptions management believes to be reasonable, including, without limitation: no adverse developments in respect of the property or operations at the project; no material changes to applicable laws; the restart and ramp-up of operations at the Underground Mine in accordance with management’s plans and expectations; no material adverse impacts from COVID-19 going forward; the Company will be able to obtain sufficient additional funding to complete the restart and ramp-up of the Underground Mine, no material adverse change to the price of copper from current levels; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended.

The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information and statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. Specific reference is made to “Risks and Uncertainties” in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2022 and “Risk Factors” in the Company’s Annual Information Form dated March 20, 2023, for a discussion of factors that may affect forward-looking statements and information. Should one or more of these risks or uncertainties materialize, should other risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results and events may vary materially from those described in forward-looking statements and information. For more information on the Company and the risks and challenges of its business, investors should review the Company’s filings that are available at www.sedar.com.

The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Photos accompanying this announcement arer available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/33287b0a-4643-4316-8a39-08e81b110e72
https://www.globenewswire.com/NewsRoom/AttachmentNg/4a06e4cb-c8da-43bc-b046-a73b578531c8
https://www.globenewswire.com/NewsRoom/AttachmentNg/287539cd-14b0-4a30-b300-a3b7553c2511
https://www.globenewswire.com/NewsRoom/AttachmentNg/981a35f8-eff7-4e75-aff0-d3ce6c056df6

Tags #NCU, #NevadaCopper, Randy Buffington

Base Metals Energy Junior Mining Rover Metals

Rover Metals to Pursue Plan of Operations at Let’s Go Lithium Project NV, USA

Post author By admin
Post date July 25, 2023

VANCOUVER, British Columbia, July 24, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) has been notified by the U.S. Bureau of Land Management that it must complete a plan of operations prior to commencing any exploration drilling at its Let’s Go Lithium (“LGL”) project in rural Nevada.

Starting this week, the Company will begin to interview suitable environmental consulting firms to assist the Company with its Plan of Operations For Exploration and any necessary environmental assessment under the National Environmental Policy Act (“NEPA”). The NEPA process will include public engagement. The Company will provide an updating release once it has engaged an environmental consulting firm.

Let’s Go Lithium Underlying Option Agreement
The vendor of the LGL project, GenGold2, LLC, has agreed to give certain concessions with regards to the timing and the amounts of future option payments as a result of the BLM requirement. An updating news release will be provided once the company has amended its Option Agreement for the LGL project.

Judson Culter, CEO at Rover Metals, states “the LGL claims adjoin Lhoist North America’s (“Lhoist’s”) Amargosa Valley Specialty Clays Mine. Lhoist’s mining activity in the area dates back to 1972. To the best of management’s knowledge, there have been no negative environmental impacts from over 50 years of specialty clay mining in the area. Our management team, including myself, will be planning townhalls and community engagement sessions as we progress through the NEPA process.”

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.

Gold Company Junior Mining Precious Metals

Gold79 Announces Amendment of a Gold Chain Property Option Agreement Reducing Near-Term Cash Payments

Post author By admin
Post date July 24, 2023

Ottawa, Ontario–(Newsfile Corp. – July 24, 2023) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce that it has entered into an amending agreement with respect to one of its option agreements for the Gold Chain, Arizona project which reduces cash payments in the near-term.

This amending agreement relates to 107 unpatented mining claims forming part of the Gold Chain project. In total, the Gold Chain project consists of 379 unpatented mining claims covering approximately 3,058 hectares (7,552 acres) and 15 patented claims covering approximately 107 hectares (264 acres). The Company retains a right to earn a 100% interest in this portion of the project while the future payment schedule for certain cash and share payments has been amended as further detailed below.

Derek Macpherson, President and CEO of Gold79, states, “Given market conditions, this reduction in near-term cash payments is an important step to allow Gold79 to continue advancing the project. I would like to thank the project optionors for providing us with additional flexibility by deferring near-term cash payments with this amendment.”

Details with respect to the amendment is as follows:

The amended option agreement now requires a balance of future annual cash payments totaling US$415,000 (previously US$410,000) with anniversary payments extending to July 30, 2028 versus July 30, 2025 previously. Future share payments now total a value of US$192,000 (previously US$144,000) with annual payments due July 30, 2023 to July 30, 2026. Details of the revised future payments are as follows:

Table 1: Amended Payment Schedule

Timing	Cash payments (US dollars)	Common share payments (US dollars)
On or before July 30, 2023	$15,000	$48,000
On or before July 30, 2024	25,000	48,000
On or before July 30, 2025	55,000	48,000
On or before July 30, 2026	60,000	48,000
On or before July 30, 2027	100,000	Nil
On or before July 30, 2028	160,000	Nil
Totals	$415,000	$192,000

Table 2: Previous Payment Schedule

Timing	Cash payments (US dollars)	Common share payments (US dollars)
On or before July 30, 2023	$60,000	$48,000
On or before July 30, 2024	100,000	48,000
On or before July 30, 2025	250,000	48,000
Totals	$410,000	$144,000

There continues to be no minimum commitment for exploration work expenditures under the option agreement and all other terms remain unchanged.

This amending agreement is subject to approval of the TSX Venture Exchange.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

Stay Connected with Us:
Twitter: @Gold79Mines
Facebook: https://www.facebook.com/Gold79Mines
LinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/

FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any proposed private placement or any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174462

Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Options Its Flat and Bamble Nickel Projects in Norway

Post author By admin
Post date July 24, 2023

Vancouver, British Columbia–(Newsfile Corp. – July 24, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement for EMX’s Flåt and Bamble nickel-copper sulfide projects in Norway (the “Projects“) (see Figure 1) to Londo Nickel Limited (“Londo Nickel“), a public unlisted Australian Company. The agreement provides EMX with 2.5% Net Smelter Return (“NSR“) royalty interests, cash and equity payments, work commitments and other considerations. In conjunction with this transaction, Londo Nickel intends to establish a public listing on the Australian Securities Exchange (ASX) later in 2023.

The Flåt and Bamble Projects belong to a belt of Proterozoic mafic intrusions in southern Norway that hosts a variety of nickel-copper sulfide deposits and occurrences (see Figure 1). These deposits were mined in the 20^th century to help feed the nearby Nikkelverk smelter, which is now owned and operated by Glencore. During this period Norway was a major supplier of nickel to the world. The mines in southern Norway are also thought to have provided the majority of global nickel production in the late 19^th century, and although over 40 mines have operated in the area historically, there has been very little modern exploration. In a broader context, the belt in southern Norway is considered to be the eastern extension of the same geologic trend that hosts the Voisey’s Bay nickel deposits in Labrador, Canada (the regions of modern-day Fennoscandia and Canada were once adjoined in the middle Proterozoic era).

The Projects will provide Londo Nickel with a strong pair of battery metal assets in advance of its proposed ASX listing. EMX and Londo Nickel will work together to apply modern exploration methods and deposit models to advance the Projects.

Commercial Terms Overview (terms are in Australian dollars (AUD) unless otherwise noted). Upon execution, Londo Nickel will make a cash payment of $30,000. During a seven-month option period, Londo Nickel can acquire a 100% interest in the EMX subsidiary company that controls the Projects by paying EMX an additional $20,000. Upon commencement of the IPO and ASX-listing process, Londo Nickel will make an additional cash payment of up to $100,000 and issue 750,000 shares of Londo Nickel to EMX along with 1,000,000 options with each option being exercisable for one share of Londo Nickel at a price of $0.25 for 48 months. Upon the first anniversary of the IPO, Londo Nickel will also pay EMX $50,000 in cash.

Upon completing the option requirements, Londo Nickel will earn 100% interest in each Project with EMX retaining:

A 2.5% NSR royalty interest in each Project.
Annual advance royalty (“AAR“) payments per each Project that commence on the third anniversary of the IPO. These will start at $30,000, with AAR payments increasing by 15% per year on subsequent anniversaries of the IPO until reaching $75,000.
Milestone payments of $250,000 in cash upon announcement via the ASX of a maiden JORC resource for each Project. Additional milestone payments of $500,000 in cash will be made to EMX upon the delivery of a feasibility study for each Project.

To maintain its interest in the Flåt and Bamble Projects, Londo Nickel will also spend a minimum of $300,000 and $100,000, respectively, by the first anniversary of the IPO, and $300,000 each year starting on the second anniversary of the IPO¹.

Flåt Project Overview. EMX’s exploration licenses surround the historical Flåt Mine (see Figure 2), which was one of the largest nickel producers in Europe from 1872 through the end of World War II. Total reported production from the mine was 2.7 Mtonnes at average grades of 0.72% Ni, 0.48% Cu, and 0.06% Co², and was the major source of nickel for the nearby Nikkelverk smelter in the first half of the 20^th century. EMX’s land position covers the lateral and downward extensions of the mineralized body exploited by historical mining at Flåt, as well as other nearby historical mine workings. Falconbridge completed the most recent drill program in the 1970’s, but failed to reach the exploration target at depth. Beyond the near-mine targets, Falconbridge also investigated and drill tested other prospects within the intrusive complex, including Mølland and Oreknappen, which are also within the EMX land position. Drill results at Mølland, which include a historical intercept of 6.78 m @ 1.07% Ni, 0.27% Cu from 103.96 m depth (true width unknown), demonstrate additional upside potential on the project.³

Bamble Project Overview. The Bamble nickel-copper-cobalt project covers a 20-kilometer trend of mafic intrusions in the Bamble Belt. Multiple nickel and copper occurrences have been documented on the Bamble property, many of which have historical mine workings including the Skaugen and Nystein-Meikjaer target areas (see Figure 3). The Skaugen target is a 5 x 2 km magnetite-rich gabbroic pluton with a strong geophysical signature. There are disseminated sulfide occurrences around the periphery of the intrusion, with conductive EM anomalies in the center, many of which have never been drill tested.

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

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

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

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and 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 March 31, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location Map of EMX Royalty Properties

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/174487_1d491acdb4ceeb05_002full.jpg

Figure 2. Overview Map of Flåt Project with Historical Production Annotated
(see footnote 2 for historical production reference)

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1508/174487_1d491acdb4ceeb05_003full.jpg

Figure 3. Overview Map of Bamble Project on TMI Magnetics

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1508/174487_1d491acdb4ceeb05_004full.jpg

¹ The work commitment for the Bamble project will increase to $300,000 per year following the 3^rd anniversary of the IPO.

² Historical production values provided by the Norwegian Geologic Survey in “The Ore Database”. (https://aps.ngu.no/pls/oradb/minres_deposit_fakta.Main?p_objid=5253&p_spraak=E). EMX has not performed sufficient work to verify the published assay data reported above, and these data cannot be verified as compliant with NI 43-101 standards, however EMX considers them reliable and relevant.

³ The historical drilling was completed by Sulfidmalm in 1968 and 1970 as reported to NGU in ‘The Sulfidemalm 2005 Annual Report’. EMX has not performed sufficient work to verify the historical drill results. However, from independent assessment, EMX considers the historical results to be reliable and relevant as an example providing general context for mineralization occurring on the property.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174487

Base Metals Energy Junior Mining Rover Metals

Rover Metals Arranges Second Closing of $0.08 Unit Financing

Post author By admin
Post date July 20, 2023

VANCOUVER, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that further to its release of June 23, 2023, Rover has received additional orders of $177,000 for its $0.08 Unit Financing. The Company has received approval from the Toronto Venture Exchange (the “TSXV”) to close the second tranche of the Unit financing for gross proceeds of $177,000 (the “Second Closing”). The Company will issue 2,212,500 common shares and 2,212,500 warrants. Finders’ commissions are being paid in connection with the Second Closing in the amount of cash commissions of $6,200 and finders’ warrants of 77,500. The finder’s warrants will have an exercise price of $0.12 and a useful life of two and half (2 ½) years. The shares and warrants issued under the Second Closing will bear the minimum four-month regulatory hold period from the date of issuance. The Company has now raised a total of $677,000 under the first two closings of its financing.

The financing has been led by experienced lithium investors from Europe and Australia.

An updating release will be provided once the Company has completed any future closings of the unit financing, including receipt of final acceptance from the TSXV for the financing.

Use of Proceeds
The proceeds from the Second Closing will be used for general and administrative expenses.

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

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.

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

Stillwater Critical Minerals Launches Expansion Drill Program

Post author By admin
Post date July 20, 2023

VANCOUVER, BC / ACCESSWIRE / July 20, 2023 / Stillwater Critical Minerals Corp. (TSX.V:PGE)(OTCQB:PGEZF) (the “Company” or “Stillwater”) is pleased to announce the start of 2023 expansion drilling at its flagship Stillwater West nickel-PGE-copper-cobalt and gold project in Montana, USA, in addition to providing an update on other initiatives including work already underway.

Highlights

Drilling will focus on expansion of the NI 43-101-compliant resources announced January 25, 2023 which demonstrated world-class grade and scale with 1.6 billion pounds of nickel, copper and cobalt and 3.8 million ounces of palladium, platinum, rhodium, and gold (“4E”) in a base case study totaling 255 million tonnes (“Mt”), with a high-grade component of 11.6 Mt grading 1.05% recovered nickel equivalent (as 0.56% Ni, 0.33% Cu, 0.03% Co,0.54 g/t Pd, 0.27 g/t Pt, 0.15 g/t Au and 0.019 g/t Rh).
Priority is on expansion of high-grade mineralization at the DR-Hybrid deposit at Chrome Mountain, including:
- Drill hole CM2021-05, which returned 13.2 meters grading 2.89% Recovered Nickel Equivalent¹ (“NiEq”) (2.31% Ni, 1.51 g/t 4E, 0.35% Cu, and 0.115% Co), starting at 37.6 meters. This high-grade mineralization, contained within 400.8 meters of continuous battery and precious metal mineralization, is of a type not previously identified in the Stillwater district and appears to be related to 8.5 meters of similar high-grade, high-tenor nickel sulphide returned in hole CM2020-04, approximately 125 meters downdip to the west. See news releases from May 03, 2022, and March 03, 2021.
Drilling is also expected to expand on high-grade targets at the CZ and HGR deposits at Iron Mountain, up to nine kilometers east of Chrome Mountain, as step-outs from the following intercepts:
- Drill hole CZ2021-01, which returned 63.7 meters grading 0.86% NiEq (0.47% Ni, 0.42 g/t Pd, 0.27% Cu, and 0.04% Co as well as significant Pt and Au values), within 367.6 meters of continuous mineralization. This hole was a step-out from hole CZ2019-01 which returned 62.0 meters grading 0.56% NiEq and also 3.54 meters of 2.67% NiEq (as 1.53% Ni, 0.49% Cu, 0.099% Co, and 3.45 g/t 4E) within 399 meters of continuous mineralization, starting at surface. The CZ deposit benefits from a historic resource and positive preliminary metallurgical work completed by AMAX in the 1970s. See news releases from December 20, 2021, and January 21, 2020.
- Drill hole IM2021-05 in the HGR deposit area returned 7.3 meters grading 0.70% NiEq (as 0.45% Ni, 0.51 g/t 4E, 0.17% Cu and 0.026% Co), and 2.4 meters 2.04% NiEq (as 1.55% Ni, 0.85 g/t 4E, 0.17% Cu, and 0.087% Co), within 379.2 meters of continuous battery and precious metal mineralization starting at surface. This hole was a step-out from hole IM2019-03 which returned 26.8 meters grading 0.85% NiEq (as 0.34% Ni, 0.15% Cu, 0.019% Co, and 1.24 g/t 4E) within 272.5 meters of continuous mineralization. See news releases from July 07, 2022, and December 18, 2019.
The 2023 campaign will be the first to apply updated geological models which incorporate similar geology from South Africa’s Platreef district under the direction of Dr. Danie Grobler, who joined the team in May of 2022 as Vice-President Exploration.
This campaign is funded by the recent 9.99% strategic equity investment by Glencore and is expected to consist of approximately 5,000 meters of diamond core drilling.

Michael Rowley, President and CEO of Stillwater Critical Minerals, stated, “We are very pleased to announce the arrival of equipment and crews for our 2023 drill campaign with a view to expanding our recent high-grade nickel and copper sulphide discoveries, enriched in cobalt and precious metals. Those intercepts included some of the widest and highest-grade intervals in their respective years and drove a robust and low-cost expansion of our previous mineral resource. We are focused on continuing that trend as we apply our new understanding of the geology of the Stillwater complex from the giant mines of South Africa. The broader fundamentals are stronger than ever for our sector, and the recent strategic investment by Glencore in Stillwater is an important validation of both the project and the underlying fundamentals of US critical mineral supply. We look forward to further announcements from this iconic and expanding American mining district, which has been producing high-grade critical minerals for over one hundred years.”

Dr. Danie Grobler, Vice-President of Exploration for Stillwater Critical Minerals, said “It’s exciting to be embarking on the 2023 drill campaign, which will be the first ever in the Stillwater Igneous Complex that incorporates detailed structural and stratigraphic models from very similar mineralization in South Africa’s Bushveld Igneous Complex. Field work, which commenced in June, includes a ground-based high resolution magnetic survey which has already provided a clear response to the high-grade massive sulphide zone identified in holes CM2021-05 and CM2020-04 holes noted above, further defining that target while also delineating stratigraphic and structural controls on mineralization. The world-class size and well-mineralized nature of the Stillwater complex, coupled with our new understanding of the structure and controls on mineralization, has provided us with a large number of targets to guide expansion of the existing resources while also leading us into exciting new areas”.

Metallurgy, US Geological Survey, and Other Initiatives

Sample collection for more detailed metallurgical testing is on-going as part of the expanding development of Stillwater West, with a view to including full metallurgical assessment in future studies. Preliminary metallurgical assessments by Stillwater returned strong nickel tenor in sulphides drilled by the Company to date. In addition, favorable historic bench-scale metallurgical results completed historically by AMAX at the Iron Mountain target area demonstrate the potential for effective nickel and copper sulphide flotation and PGE recovery.

2023 fieldwork surface programs including geophysical and geological prospecting and mapping surveys are also planned as part of the 2023 campaign. Some of these programs commenced earlier this year with a view to detailing priority drill targets.

In addition, the Company is pleased to report its continuing and expanding engagement with the US Geological Survey which includes new technical programs in addition to ongoing consultation and data sharing following multiple onsite meetings, with some programs eligible for funding under the Inflation Reduction Act and other government initiatives.

Carbon Capture

All five deposits in the 2023 Resource contain desirable nickel sulphide mineralization that has been shown to require a much lower environmental footprint in subsequent processing to nickel metal or nickel sulphate in comparison to the laterite nickel ores that dominate global production. As part of Stillwater’s commitment to global sustainability initiatives, the Company is also examining the potential for large-scale carbon sequestration with the objective of further reducing and possibly eliminating the carbon footprint of a potential mining operation at Stillwater West.

Carbon sequestration studies are ongoing in two channels as reported previously. The first, led by Dr. Greeshma Gadikota at Cornell University with funding by the Department of Energy under the Advanced Research Projects Agency-Energy program, is focused on novel hydrometallurgical techniques and carbon capture with the objective of increasing the extraction of critical minerals using reduced energy for a carbon negative mining future. The second is via ARCA Climate (formerly Carbin Minerals Inc) and the University of British Columbia with focus on investigating the potential to exploit the presence of certain ultramafic minerals that are known to have high capacity to bind carbon dioxide by a natural process known as mineral carbonation for carbon capture as part of a potential mining operation at Stillwater West.

This work strongly aligns with Stillwater’s Environmental, Social and Governance guidelines and principles, and the incorporation of carbon uptake may bring financial benefits via initiatives such as the 45Q Tax Credit for Carbon Oxide Sequestration that is now in place in the US.

About Stillwater Critical Minerals Corp.

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Stillwater Critical Minerals, Thursday, July 20, 2023, Press release picture

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

Quality Control and Quality Assurance

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

Forward-Looking Statements

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

SOURCE: Stillwater Critical Minerals

Base Metals Diamcor Mining Precious Metals

Diamcor Deploys Additional Heavy Equipment to Support Bulk Sampling and Targeted Increases in Processing Volumes

Post author By admin
Post date July 18, 2023

KELOWNA, BC / ACCESSWIRE / July 18, 2023 / Diamcor Mining Inc. (TSXV.DMI)(OTCQB-DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), a Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds, announced today that in addition to the previously announced recent completion of the reconfiguration of generator systems to mitigate the limitations of increased power outages, it has also added another new large excavator to its heavy equipment fleet at its Krone-Endora at Venetia diamond mine project (the “Project”).

The Company is pleased to announce it completed the repayment of its current Caterpillar equipment fleet in July of 2023, and this additional large excavator will now provide the Company with the potential for additional processing volume capacities, diamond recoveries, and associated revenues moving forward.

“We are very pleased to have completed the final payments on our existing heavy equipment,” stated Mr. Dean H. Taylor Chief Executive Officer of Diamcor. “The addition of another large excavator provides our Company with redundancy and added capacity as we begin efforts on the previously announced bulk sampling efforts over the greater areas of the Project”.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. The Company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About the Krone-Endora at Venetia Project

Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors:

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

For Investor Relations contact:

Mr. Rich Matthews Mr. Neil Simon
Integrous Communications Investor Cubed Inc
rmatthews@integcom.us nsimon@investor3.ca
+1 (604) 355-7179 +1 (647) 258-3310

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

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

SOURCE: Diamcor Mining Inc.

Energy Junior Mining Lion One Metals Precious Metals

Lion One Reports Robust Gold Grades from Tuvatu Mine in Fiji

Post author By admin
Post date July 13, 2023

Face Sampling Returns 19.91 g/t Au over 35 m, Peak Value of 246 g/t Au

North Vancouver, British Columbia–(Newsfile Corp. – July 13, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report successful mining results and better than expected grades from underground developments at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Face sampling on the URW1a lode returned 19.91 g/t Au over the first 35 m of mining, while face sampling on the URW1b lode returned 9.60 g/t Au over the first 22.5 m of mining. The URW1 lode system was originally modelled as a single lode with average grade of 14.05 g/t Au. The grade from the URW1a lode is therefore stronger than anticipated while the grade from the URW1b lode represents additional upside.

Highlights of Face Sampling Results:

43.49 g/t Au over 2.1 m (including 61.67 g/t Au over 1.40m) (1140.URW1.NTH.OD-A_17)
34.33 g/t Au over 2.4 m (including 56.56 g/t Au over 1.10m) (1140.URW1.NTH.OD-A_12)
37.00 g/t Au over 2.0 m (including 56.01 g/t Au over 1.32m) (1140.URW1.NTH.OD-A_11)
31.62 g/t Au over 2.33 m (including 50.88 g/t Au over 0.63m) (1140.URW1.NTH.OD-A_16)
34.61 g/t Au over 2.1 m (including 52.81 g/t Au over 1.30m) (1140.URW1.NTH.OD-A_13)
31.52 g/t Au over 2.0 m (including 246.79 g/t Au over 0.23m) (1140.URW1.NTH.OD-A_02)
31.90 g/t Au over 1.9 m (including 60.23 g/t Au over 0.50m) (1140.URW1.NTH.OD-A_08)
25.61 g/t Au over 2.0 m (including 66.4 g/t Au over 0.75m) (1140.URW1.NTH.OD-A_01)
17.32 g/t Au over 1.96 m (including 25.42 g/t Au over 0.31m) (1140.URW1.NTH.OD-B_07)
16.09 g/t Au over 2.0 m (including 35.20 g/t Au over 0.52m) (1140.URW1.NTH.OD-B_11)
12.41 g/t Au over 2.2 m (including 30.50 g/t Au over 0.60m) (1140.URW1.NTH.OD-B_15)
15.77 g/t Au over 1.73 m (including 48.51 g/t Au over 0.36m) (1140.URW1.NTH.OD-B_17)

Lion One Chairman and CEO Walter Berukoff commented: “We’re very pleased with the results from our face sampling program on the URW1a and URW1b lodes at Tuvatu. Face samples are collected directly from the mining drive and as such they provide the most accurate representation of the grade of the material that we’re mining, and the results to date are much greater than expected. These results provide the first comprehensive view of the grade distribution within these lodes. Tuvatu has once again outperformed and as underground developments progress we’re beginning to see the true potential of the system.”

Face Sampling

Table 1. Highlights of Face Sampling from the URW1a and URW1b lodes

Face ID		From	To	Interval (m)	Au (g/t)
1140.URW1.NTH.OD-A_02		0.67	1.35	0.68	88.58
	including	0.67	0.90	0.23	246.79
	and	0.90	1.35	0.45	7.71
1140.URW1.NTH.OD-A_01		0.00	0.75	0.75	66.40
	including	0.00	0.56	0.56	51.20
	and	0.56	0.75	0.19	111.20
1140.URW1.NTH.OD-A_17		0.70	2.10	1.40	61.67
	including	0.70	1.35	0.65	33.47
	and	1.35	2.10	0.75	86.11
1140.URW1.NTH.OD-A_11		0.68	2.00	1.32	56.01
	including	0.68	1.20	0.52	75.53
	and	1.20	1.70	0.50	36.21
	and	1.70	2.00	0.30	55.19
1140.URW1.NTH.OD-A_13		0.80	2.10	1.30	52.81
	including	0.80	1.60	0.80	45.19
	and	1.60	2.10	0.50	65.01
1140.URW1.NTH.OD-A_12		1.30	2.40	1.10	56.56
	including	1.30	1.90	0.60	64.92
	and	1.90	2.40	0.50	46.52
1140.URW1.NTH.OD-A_16		0.76	1.93	1.17	37.21
	including	0.76	1.39	0.63	50.88
	and	1.39	1.86	0.47	13.08
	and	1.86	1.93	0.07	76.15
1140.URW1.NTH.OD-A_08		1.10	1.90	0.80	37.07
	including	1.10	1.50	0.40	43.56
	and	1.50	1.90	0.40	30.57
1140.URW1.NTH.OD-B_11		0.00	1.00	1.00	27.87
	including	0.00	0.48	0.48	19.94
	and	0.48	0.87	0.39	23.62
		0.87	1.00	0.13	69.93
1140.URW1.NTH.OD-B_07		0.00	0.76	0.76	25.59
	including	0.00	0.45	0.45	25.70
	and	0.45	0.76	0.31	25.42

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/173370_9cc80cc694a50a8e_001full.jpg

Figure 2. Plan map showing the location and face grades returned from face sampling in URW1a and URW1b. The URW1a mining drive is on the left and the URW1b mining drive is on the right. Face grades in g/t Au and their corresponding sample numbers are shown in white. The locations of the face samples are indicated by the sub-horizontal lines. Grid lines are 10 m apart. Mining is ongoing and progressing to the north.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/173370_figure2.jpg

Mining of the URW1 lodes has been ongoing since May 18th, 2023, and is being conducted through the use of airleg mining. Mining is progressing in a step-wise fashion with the mining drives advancing in increments of 2 m. Prior to blasting, a face sample is collected across the face of the advancing drive, with the sample being oriented approximately perpendicular to the strike of the mineralized lode (Figure 3). These samples lines are typically around 2 m in length and traverse the entire width of the drive such that they represent all the material mined and not just the main lode. The face samples are therefore considered representative of the grade at the face of the advancing drive and provide an indication of the grade of the material extracted with each blast. The series of face samples collected progressively along the strike of the lode provide an estimate of the grade of the material mined from the lode to date. Due to the nature of mineralization at Tuvatu there is local variation in gold grades, and the more extensive the systematic sampling is the more accurate the depiction of the overall grade and gold content of each lode will be. For a description of the geology and mineralization of the URW1 lodes, see the Lion One news release dated April 25th, 2023.

Figure 3. Face sampling methodology, URW1a. Photo of the face and sample grades for the 1140.URW1.NTH.OD-A_12 face of the URW1a lode. Samples are marked with red paint with red numbers indicating sample interval boundaries in meters. Gold grades are indicated in white. The main lode is visible on the right side of the face and is highlighted by the yellow dashed lines. In this case the lode is trending towards the east (to the right side of the photo), and the miners will start mining in that direction with the next blast, as is seen in Figure 2 above at sample 1140.URW1.NTH.OD-A_12. Sample bags are visible towards the bottom of the image, with 4 samples taken across the face and an additional duplicate sample taken at the location of the main lode. Bag numbers are visible in the face photos as a QAQC measure. Samples are collected by chipping material off the face rock equally along the length of the sample line.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/173370_9cc80cc694a50a8e_057full.jpg

Figure 4. Examples of visible gold identified during sampling. Scratcher pen used for scale in top two images. Width of sampled in bottom image is 4.5 cm.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/173370_9cc80cc694a50a8e_058full.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

Appendix 1: Complete Face Sample Results and Location Information

Table 2. Face Grade and Sample results from the URW1a lode (face grade >0.5 g/t Au)

Face ID	Face Sample Information				Total Sample Length (m)	Face Grade (Au g/t)
Face ID	From	To	Interval (m)	Au (g/t)	Total Sample Length (m)	Face Grade (Au g/t)
1140.URW1.NTH.OD-A_01	0	0.56	0.56	51.20	2.00	25.61
	0.56	0.75	0.19	111.20
	0.75	1.20	0.45	2.69
	1.20	2.00	0.80	0.25
1140.URW1.NTH.OD-A_02	0	0.67	0.67	2.96	2.00	31.52
	0.67	0.90	0.23	246.79
	0.90	1.35	0.45	7.71
	1.35	2.00	0.65	1.27
1140.URW1.NTH.OD-A_03	0	0.50	0.50	9.24	2.00	12.12
	0.50	0.86	0.36	6.52
	0.86	0.90	0.04	26.12
	0.90	1.36	0.46	1.45
	1.36	2.00	0.64	24.30
1140.URW1.NTH.OD-A_04	0	0.51	0.51	2.81	1.70	6.54
	0.51	0.71	0.20	14.37
	0.71	1.22	0.51	7.88
	1.22	1.70	0.48	5.83
1140.URW1.NTH.OD-A_06	0	0.47	0.47	3.67	2.00	5.86
	0.47	0.60	0.13	3.86
	0.60	1.00	0.40	0.06
	1.00	1.31	0.31	0.05
	1.31	2.00	0.69	13.69
1140.URW1.NTH.OD-A_07	0	0.70	0.70	34.75	2.20	12.01
	0.70	0.96	0.26	4.46
	0.96	1.55	0.59	0.20
	1.55	2.20	0.65	1.27
1140.URW1.NTH.OD-A_08	0	0.50	0.50	60.23	1.90	31.90
	0.50	1.10	0.60	1.41
	1.10	1.50	0.40	43.56
	1.50	1.90	0.40	30.57
1140.URW1.NTH.OD-A_09	0	0.55	0.55	0.80	2.10	6.25
	0.55	1.10	0.55	0.26
	1.10	1.80	0.70	16.67
	1.80	2.10	0.30	2.89
1140.URW1.NTH.OD-A_10	0	0.83	0.83	20.99	1.92	17.15
	0.83	1.53	0.70	15.26
	1.53	1.92	0.39	12.37
1140.URW1.NTH.OD-A_11	0	0.68	0.68	0.08	2.00	37.00
	0.68	1.20	0.52	75.53
	1.20	1.70	0.50	36.21
	1.70	2.00	0.30	55.19
1140.URW1.NTH.OD-A_12	0	0.60	0.60	15.53	2.40	34.33
	0.60	1.30	0.70	15.50
	1.30	1.90	0.60	64.92
	1.90	2.40	0.50	46.52
1140.URW1.NTH.OD-A_13	0	0.80	0.80	5.02	2.10	34.61
	0.80	1.60	0.80	45.19
	1.60	2.10	0.50	65.01
1140.URW1.NTH.OD-A_15	0	0.48	0.48	0.01	1.82	1.16
	0.48	1.04	0.56	2.80
	1.04	1.42	0.38	0.86
	1.42	1.82	0.40	0.52
1140.URW1.NTH.OD-A_16	0	0.76	0.76	0.07	2.33	31.62
	0.76	1.39	0.63	50.88
	1.39	1.86	0.47	13.08
	1.86	1.93	0.07	76.15
	1.93	2.33	0.40	75.20
1140.URW1.NTH.OD-A_17	0	0.70	0.70	7.14	2.10	43.49
	0.70	1.35	0.65	33.47
	1.35	2.10	0.75	86.11
1140.URW1.NTH.OD-A_18	0	0.70	0.70	6.84	2.30	2.40
	0.70	1.23	0.53	0.02
	1.23	2.00	0.77	0.15
	2.00	2.30	0.30	1.99
1140.URW1.NTH.OD-A_19	0	0.74	0.74	1.84	2.40	4.91
	0.74	1.39	0.65	4.61
	1.39	1.86	0.47	1.67
	1.86	2.40	0.54	12.30

Table 3. Face Grade and Sample results from the URW1b lode (face grade >0.5 g/t Au)

Face ID	Face Sample Information				Total Sample Length (m)	Face Grade (Au g/t)
Face ID	From	To	Interval (m)	Au (g/t)	Total Sample Length (m)	Face Grade (Au g/t)
1140.URW1.NTH.OD-B_02	0	0.50	0.50	0.56	2.00	2.75
	0.50	1.20	0.70	0.61
	1.20	1.56	0.36	2.22
	1.56	2.00	0.44	9.09
1140.URW1.NTH.OD-B_07	0	0.45	0.45	25.70	1.96	17.32
	0.45	0.76	0.31	25.42
	0.76	0.91	0.15	5.81
	0.91	1.13	0.22	13.70
	1.13	1.96	0.83	12.79
1140.URW1.NTH.OD-B_08	0	0.47	0.47	7.93	1.70	6.31
	0.47	0.70	0.23	14.04
	0.70	1.20	0.50	3.18
	1.20	1.70	0.50	4.37
1140.URW1.NTH.OD-B_09	0	0.50	0.50	0.60	1.95	2.01
	0.50	1.00	0.50	0.13
	1.00	1.50	0.50	6.82
	1.50	1.95	0.45	0.33
1140.URW1.NTH.OD-B_10	0	0.45	0.45	10.69	2.10	5.7
	0.47	0.86	0.39	2.24
	0.86	1.10	0.24	22.56
	1.10	2.10	1.00	0.76
1140.URW1.NTH.OD-B_11	0	0.48	0.48	19.94	2.00	16.09
	0.48	0.87	0.39	23.62
	0.87	1.00	0.13	69.93
	1.00	2.00	1.00	4.30
1140.URW1.NTH.OD-B_12	0	0.75	0.75	6.48	3.30	10.76
	0.75	1.40	0.65	4.61
	1.40	2.00	0.60	0.48
	2.00	2.70	0.70	11.66
	2.70	3.30	0.60	31.98
1140.URW1.NTH.OD-B_13	0	0.60	0.60	0.01	1.70	0.01
	0.60	1.11	0.51	0.01
	1.11	1.50	0.39	0.01
	1.50	1.70	0.20	0.01
1140.URW1.NTH.OD-B_15	0	0.70	0.70	2.90	2.20	12.41
	0.70	1.30	0.60	30.50
	1.30	1.50	0.20	10.13
	1.50	2.20	0.70	7.06
1140.URW1.NTH.OD-B_17	0	0.70	0.70	2.87	1.73	15.77
	0.70	1.06	0.36	48.51
	1.06	1.42	0.36	11.90
	1.42	1.73	0.31	11.36

Table 4. Coordinates for face sample lines reported in this release, using the end of the sample line as the reference point. Coordinates are in Fiji map grid.

Face ID	Easting	Northing	Elevation
1140.URW1.NTH.OD-A_01	1876336	3920736	141
1140.URW1.NTH.OD-A_02	1876336	3920738	141
1140.URW1.NTH.OD-A_03	1876336	3920739	141
1140.URW1.NTH.OD-A_04	1876336	3920741	141
1140.URW1.NTH.OD-A_06	1876336	3920743	141
1140.URW1.NTH.OD-A_07	1876335	3920745	141
1140.URW1.NTH.OD-A_08	1876335	3920747	141
1140.URW1.NTH.OD-A_09	1876335	3920750	141
1140.URW1.NTH.OD-A_10	1876335	3920752	141
1140.URW1.NTH.OD-A_11	1876335	3920754	142
1140.URW1.NTH.OD-A_12	1876335	3920756	142
1140.URW1.NTH.OD-A_13	1876336	3920758	142
1140.URW1.NTH.OD-A_15	1876337	3920762	141
1140.URW1.NTH.OD-A_16	1876338	3920764	141
1140.URW1.NTH.OD-A_17	1876338	3920765	141
1140.URW1.NTH.OD-A_18	1876339	3920766	141
1140.URW1.NTH.OD-A_19	1876340	3920768	141
1140.URW1.NTH.OD-B_02	1876349	3920738	144
1140.URW1.NTH.OD-B_07	1876349	3920744	142
1140.URW1.NTH.OD-B_08	1876348	3920745	141
1140.URW1.NTH.OD-B_09	1876348	3920748	141
1140.URW1.NTH.OD-B_10	1876348	3920749	141
1140.URW1.NTH.OD-B_11	1876349	3920752	141
1140.URW1.NTH.OD-B_12	1876349	3920754	141
1140.URW1.NTH.OD-B_15	1876349	3920759	141
1140.URW1.NTH.OD-B_17	1876349	3920762	141

Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Launches First Phase Drill Program at the La Plata Copper-Silver-Gold-PGE Project in Southwest Colorado, USA

Post author By admin
Post date July 11, 2023

VANCOUVER, BC / ACCESSWIRE / July 11, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce the start of the 2023 exploration and drill campaign at the La Plata copper-silver-gold-PGE project, located in southwest Colorado.

In May 2023, Newcrest Mining Limited completed a 9.5% strategic equity investment into Metallic Minerals with the goal of accelerating advancement of the La Plata porphyry project. This funding will support a two-phase drill campaign in 2023 that will build on the success from work in 2022. The initial phase is expected to consist of approximately 5,000 meters of diamond core drilling, primarily focused on resource expansion at the Allard porphyry deposit.

A top priority for the program will be to conduct step-out drilling from the major discovery in drill hole 22-04 which intersected 816 meters of 0.41% Cu Eq (0.30% Cu, 2.47 g/t Ag, 0.038 g/t Au, 0.055 g/t Pd and 0.093 g/t Pd) from surface and ended in 5.39% CuEq over 5.2 m (2.44% Cu, 18.7 g/t Ag, 5.0 g/t Au+PGE). Hole 22-04 did not reach target depth and ended in mineralization due to mechanical issues. Drilling in 2023 will test the lower limits of mineralization and some holes are scheduled for as deep as 1,200 meters.

Scott Petsel, Metallic Minerals’ President, stated, “We see a real opportunity for world class scale and grade at La Plata and have confidence in our ability to quickly grow the existing resources. Hole 22-04 was not only the widest and highest-grade drill hole ever drilled on the project, it was also one of the top holes drilled in the last several years at any copper project in North America. We also expect to be able to increase the overall grade of the resource moving forward as we include precious metals credits previously not accounted for. Our exploration work over the past two years has defined 16 additional untested porphyry targets across the greater property, which appear to have very similar characteristics to the Allard deposit and could result in additional new discoveries. The drill is currently mobilizing to site.”

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

Yukon Mining Alliance 2023 Property Tours

Metallic Minerals will be participating in the Yukon Mining Alliance Property Tours and Investment Conference in Dawson City on July 19^th. Select tour participants will visit Metallic’s Australia Creek alluvial gold royalty property in the Klondike Gold District, currently under lease to Parker Schnabel’s Little Flake Mining as seen on Discovery Channel’s Gold Rush television program. More information whereabout the YMA Property Tours and Conference can be found here. For more information about Metallic’s lease agreement with Little Flake Mining, click here.

About Metallic Minerals

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

In 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited for the continued advancement of the Company’s La Plata project in southwestern Colorado. The inaugural NI 43-101 mineral resource estimate, announced in 2022, identified a significant porphyry copper-silver resource containing 889 Mlbs copper and 15 Moz of silver and an updated estimate is currently being finalized. Notably, Colorado was recently ranked 5^th globally for investment attractiveness and 2^nd in the USA In the 2023 Fraser Institute’s Annual Survey of Mining Companies.

In Canada’s Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining’s operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco Resources and their Keno Hill operations in September 2022. Hecla is targeting to start production at the Keno Hill operations by Q3 2023. Metallic Minerals is anticipating the announcement of inaugural mineral resource estimate at Keno Silver in the second half of 2023.

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Forward-Looking Statements

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

SOURCE: Metallic Minerals Corp.

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https://www.accesswire.com/766846/Metallic-Minerals-Launches-First-Phase-Drill-Program-at-the-La-Plata-Copper-Silver-Gold-PGE-Project-in-Southwest-Colorado-USA

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