Joining us for a conversation is Dean Taylor the CEO of Diamcor Mining to share why prudent capital is in investing in the diamond space. We will also highlight the value proposition of Diamcor Mining and address operational and corporate updates for 2023.
I’m a licensed broker for Miles Franklin Precious Metals Investments, The Only Online Dealer that is Licensed and Bonded Period! Where we provide unlimited options to expand your precious metals portfolio, from:
VANCOUVER, BC / ACCESSWIRE / January 12, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce initial assay results from the 2022 field program at the Keno Silver project located in the historic Keno Silver district of the Yukon; Canada’s most important silver mining district. These results cover the East Keno area and represent the first in a series of results to be released from the Company’s 2022 exploration program, which included 3,265 meters (m) of diamond core drilling in 23 drill holes focused on expansion of advanced stage, “resource-ready” targets in anticipation of an inaugural NI 43-101 mineral resource estimate in 2023.
Exploration in 2022 at East Keno focused on drilling of the Greater Fox area targets (Fox, UKHM and Zone 2) first discovered by the Company in 2020, through systematic exploration efforts including mapping, geochemical soil sampling, geophysics, and drilling (see Figure 1). This work outlined the first known occurrence of Ag-Pb-Zn sheeted veins and includes the widest intervals of continuous mineralization ever reported in the Keno Hill silver district at up to 177 meters thickness. The sheeted vein mineralization (spaced distinct parallel Ag-Pb-Zn veins) at Fox is found in geologic settings that may be repeated as significant additional targets across the property which, as yet remain undrilled. The East Keno target areas of Fox, UKHM and Zone 2 have become substantial advanced-stage targets, poised for further expansion drilling and near-term resource delineation.
2022 East Keno Exploration Highlights
Mineralization was intercepted in each of the eight holes (1,386 m) drilled at East Keno in 2022 (see Table 1). Both bulk-tonnage and high-grade Ag-Pb-Zn vein-style mineralization was encountered.
Drill intercepts at the Fox target in 2022 averaged 136 m of sheeted vein mineralization (including up to 177 m wide); a significant broadening of the identified mineralized zones encountered in 2020 and 2021 drilling at Fox.
At the Fox target, hole FOX22-03, returned sheeted vein zones of 144.5 m @ 41.4 g/t silver equivalent (Ag Eq), including 27.66 m at 105.8 g/t Ag Eq.
A total of 107 high-grade samples (over 100 g/t Ag Eq and greater than 0.5 m in width) were intercepted in in the 2022 East Keno drilling, including:
Z222-01, 0.5 m @ 222.7 g/t Ag Eq (182 g/t Ag, 1.10% Pb, 0.03% Zn)
FOX22-02, 0.5 m @ 806.9 g/t Ag Eq (555.0 g/t Ag, 3.24% Pb, 3.14% Zn)
FOX22-03, 0.59 m @764.0 g/t Ag Eq (463.0 g/t Ag, 0.23 g/t Au, 0.79% Pb, 5.41% Zn)
UKHM22-01, 0.55 m @1087.0 g/t Ag Eq (953.0 g/t Ag, 3.56% Pb, 0.28% Zn)
Metallic Minerals President, Scott Petsel, stated, “The 2022 drilling at Fox is indicative of the huge potential at East Keno and has significant implications for further exploration success and future resource development. The sheeted Ag-Pb-Zn vein system identified at Fox had not been recognized in the district prior to Metallic’s systematic exploration efforts and our team has since identified additional new areas as potential hosts of similar mineralization. We have now extended mineralization at the Fox deposit over 300 m along strike and 150 m down-dip starting from surface, where it remains open in all directions. A total of 18 drill holes define the Fox zone and show good continuity of the broader mineralized system with a relatively shallow dip. Resource modelling is currently underway focused on the large-scale bulk-tonnage resource potential for the Fox target area.”
“The Company expects to announce additional drill results from both the Keno Silver Project (Primarily at advanced stage targets Formo and Caribou) and the La Plata Cu-Ag Project over the coming weeks and we look forward to discussing these and other developments at events throughout Q1.”
2023 AMEBC Mineral Roundup Core Shack
Metallic is very pleased to announce that we have been invited to participate in this year’s AMEBC Mineral Roundup conference in Vancouver and will be displaying intervals of drill core from the Keno Silver project and our La Plata Project on Wednesday, January 25th and Thursday, the 26th. Key members of our management and technical teams will be on hand to discuss the project and opportunity. Visit us at booth #1016 in the Core Shack. For more information and to register, visit here.
Vancouver Resource Investment Conference – Presentation
Metallic President, Scott Petsel, will be providing a corporate update and participating in a moderated roundtable discussion during the upcoming Vancouver Resource Investment Conference on Sunday, January 29th at 3:30 PM in the Yukon Pavilion. For more information, visit here.
Figure 1. Keno Silver District Geology and Deposits
Metallic Minerals Corp., Thursday, January 12, 2023, Press release picture
East Keno Target Areas – Fox, Zone2 and UKHM
The East Keno area is represented by 15 multi-kilometer scale soil and geophysical anomalies which indicate additional potential for broad-scale mineralization in the least explored part of the Keno Hill silver district. Five of these anomalies have been drilled with initial positive results and an additional five other targets are drill ready. The Fox target, now with 2,748 meters drilled in 18 holes over three years, will be the focus of continued expansion and resource definition drilling in future programs.
Exploration of the East Keno area by Metallic Minerals began in 2018 with soil geochemical sampling and progressed to initial reverse circulation drilling in 2020 which returned several significant high-grade Ag-Pb-Zn sulfide vein intervals (KE20-01 0.77m @ 1,397 g/t Ag Eq) and numerous broad bulk-tonnage scale intervals (KE20-01, 28.2 @ 64 g/t Ag Eq and KE20-02, 22.1 m @ 48 g/t Ag Eq). The 2021 field program in East Keno combined additional reverse circulation drilling and initial diamond core drilling in warranting additional confidence in the target areas.
Drilling combined with extensive mapping and other geologic data has demonstrated a transition at East Keno from north to south from typical Keno style Ag-Pb-Zn mesothermal mineralization at Fox to mixed mesothermal and epithermal styles of mineralization at Zone 2 and UKHM. Epithermal mineralization is often associated with higher silver grades as demonstrated on the west side of the district at Silver King and Husky SW. The broad zones of mineralization at Fox, are now recognized as shallow dipping high-grade sheeted mesothermal Ag-Pb-Zn veins that appear to be associated with a regional scale thrust fault structures. This is a target concept that is broadly repeated across the district, and more specifically at multiple untested targets in the East Keno area.
Mineralized widths from the 2022 drilling on the Fox target returned the widest zones of continuous mineralization ever reported in the Keno Hill silver district and on a grade thickness basis are comparable in contained metal with some of the richest zones from the western part of district (see detailed 2022 results in Table 1 below). The Fox deposit sits within a multi-kilometer scale silver-in-soil anomaly leaving significant room to grow the footprint of mineralization for the Fox target both laterally and down dip. The westernmost drilling in the Fox target area, FOX22-05 and FOX22-06, demonstrates increasing widths of mineralization that will be tested in future programs along with untested areas of very high-level silver in soil values.
Drilling at the earlier stage Zone 2 and the UKHM targets have returned significant silver values including broad envelopes of mineralization similar to the Fox zone along with narrower high-grade silver intervals typical of the district. All drilling on these early-stage targets has been at shallow depths and these targets remain open for expansion with further drilling (see 2022 results in Table 1 below).
2022 East Keno Drilling
The focus of the 2022 drilling at Fox was extend known outlines of mineralization to enhance potential near-term resource opportunities. Single drill holes at UKHM and Zone 2 further confirmed these areas, both broad-scale mineralization and higher-grade epithermal style Ag-Pb-Zn veins, as priority targets for significant additional drilling and focus (See Figure 2).
Table 1 – Highlights of 2022 Drill Results from the East Keno Target Areas
Bulk Tonnage Intervals
Hole
From (m)
To(m)
Length (m)
Ag Eq1(g/t)
Ag(g/t)
Au (g/t)
Pb(%)
Zn (%)
FOX22-01
11.8
147.75
135.95
25.8
7.9
0.01
0.03
0.33
incl
51
79.7
28.7
47.1
14.5
0.02
0.04
0.62
FOX22-02
15.3
191.88
176.58
16.5
6.4
0.00
0.03
0.18
incl
69
78.5
9.5
76.5
31.1
0.01
0.19
0.83
and incl
174.81
186.81
12
52.2
15.5
0.00
0.04
0.75
FOX22-03
15
159.5
144.5
41.4
14.6
0.01
0.04
0.52
incl
29.55
101.75
72.2
68.1
22.6
0.01
0.06
0.89
and incl
74.09
101.75
27.66
105.8
29.5
0.02
0.09
1.54
FOX22-04
28.9
154.3
125.4
36.2
10.6
0.01
0.03
0.50
incl
28.9
114.85
85.95
49.3
14.8
0.01
0.05
0.67
and incl
67.48
114.85
47.37
73.9
21.6
0.01
0.07
1.06
FOX22-05
11.24
117
105.76
15.7
4.0
0.01
0.01
0.20
incl
27.96
82.55
54.59
21.0
5.0
0.01
0.01
0.28
FOX22-06
10
136
126
33.5
7.6
0.008
0.02
0.51
incl
65
117.15
52.15
63.2
13.0
0.01
0.03
1.03
and incl
79
90
11
122.1
23.8
0.014
0.05
2.05
UKHM22-01
59.5
112.5
53
26.7
20.2
0.01
0.06
0.07
High-Grade Intervals
Hole
From (m)
To(m)
Length (m)
Ag Eq1(g/t)
Ag(g/t)
Au (g/t)
Pb(%)
Zn (%)
FOX22-01
13.95
14.45
0.5
466.5
206.0
0.02
1.12
4.81
and
38.57
39.07
0.5
361.2
115.0
0.01
0.68
4.85
and
73.84
79.7
5.86
151.3
45.1
0.06
0.11
1.90
and
121.5
122
0.5
488.9
55.0
0.00
0.13
9.34
FOX22-02
32.5
33
0.5
806.9
555.0
0.01
3.24
3.14
and
158.08
158.58
0.5
315.3
43.0
0.01
0.04
5.76
and
174.81
175.5
0.69
281.0
22.0
0.00
0.03
5.61
FOX22-03
29.55
30.14
0.59
764.0
463.0
0.23
0.79
5.41
and
34.31
34.81
0.5
582.2
316.0
0.08
1.39
4.57
and
50.1
50.73
0.63
657.1
207.0
0.10
0.29
9.33
and
99.53
100.53
0.5
740.1
77.0
0.03
0.01
14.52
and
153.85
154.35
0.5
817.4
656.0
0.00
1.42
2.50
FOX22-04
28.9
29.4
0.5
294.1
133.0
0.12
0.07
3.16
and
53.49
54
0.51
355.7
140.0
0.14
0.66
3.91
and
67.48
68
0.52
846.7
109.0
0.10
0.16
15.75
and
114.35
114.85
0.5
555.6
43.0
0.02
0.01
11.02
FOX22-05
27.96
28.46
0.5
558.4
171.0
0.11
0.19
8.01
FOX22-06
40.5
41
0.5
397.5
134.0
0.361
0.44
4.96
and
80.6
86.3
5.7
132.2
14.4
0.016
0.02
2.46
Incl
85.8
86.3
0.5
526.9
58.0
0.019
0.10
7.02
and
114
115
1
337.0
110.0
0.03
0.19
4.70
UKHM22-01
59.5
60
0.5
989.6
763.0
0.32
2.18
2.59
and
107.3
107.85
0.55
1087.0
953.0
0.02
3.56
0.28
Z222-01
69.9
72.5
2.6
79.6
45.1
0.00
0.29
0.49
and
129.5
130
0.5
222.7
182.0
0.02
1.10
0.03
Notes to reported values:
Ag equivalent is presented for comparative purposes using conservative long-term metal prices (all USD): $20/oz silver (Ag), $1.00/lb lead (Pb), $1.40/lb zinc (Zn).
Recovered Silver Equivalent in Table 1 is determined as follows: Ag Eq g/t = [Ag g/t x recovery] + [Au g/t x recovery x Au price/ Ag price] + [Pb % x 10,000 x recovery x Pb price / Ag price] + [Zn% x 10,000 x recovery x Zn price / Ag price].
In the above calculations: 1% = 10,000 ppm = 10,000 g/t.
The following recoveries have been assumed for purposes of the above equivalent calculations: 95% for precious metals (Ag/Au) and 90% for all other listed metals, based on recoveries at similar nearby operations.
Intervals are reported as measured drill intersect length.
Figure 2 – East Keno and Greater Fox target area with 2022 drill results and composite grade thickness values (Ag Eq1)
Metallic Minerals Corp., Thursday, January 12, 2023, Press release picture
About Metallic Minerals
Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent Hecla Mining’s operations, with more than 300 million ounces 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 in September 2022. In April 2022, Metallic announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts 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 on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.
The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals’ mineral properties has been reviewed and approved by Debbie James, Senior Geologist for TruePoint Exploration, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Assurance / Quality Control
All samples were assayed by 36 Element Aqua Regia Digestion ICP-MS methods at Bureau Veritas labs in Vancouver with sample preparation in Whitehorse, Yukon and geochemical analysis in Vancouver, British Columbia. Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish. Over-limit lead and zinc samples were analyzed by multi-acid digestion and atomic absorption spectrometry. All results have passed the QAQC screening by the lab and the company utilized a quality control and quality assurance protocol for the project, including blank, duplicate, and standard reference samples.
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 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, 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 Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
TORONTO, Jan. 12, 2023 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest results from recent drilling targeting the highly prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.
Highlights of the drilling include an intersection of 20.88 g/t Au over 5 metres that included 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metres in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208. Both holes were drilled at the north end of Big Vein.
“We continue to follow up on the success of last year’s drilling at Big Vein with another high-grade intersection at the north end of the zone. Big Vein has now been drilled over a strike length of approximately 520 metres along the west side of the Appleton Fault Zone and remains open to the northeast and to the southwest,” said Roger Moss, President and CEO. “Drilling is ongoing at both ends of the zone to extend the strike length of the mineralization.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-22-208
116.00
118.00
2.00
1.07
Big Vein
176.58
178.12
1.54
5.00
including
176.58
177.78
1.20
6.04
K-22-206
24.00
25.00
1.00
1.13
Big Vein
319.00
320.00
1.00
7.41
371.00
376.00
5.00
20.88
including
374.56
375.37
0.81
124,213
K-22-204
nsv
CSAMT
K-22-203
nsv
Golden Glove
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
Big Vein plan map.
Figure 1. Big Vein plan map.
A total of 63,055 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 2,700 metres of core.
The Company has $18 million in cash and is well funded to carry out the remaining 37,000 metres of the planned drill program as well as further exploration to add to the pipeline of drill targets on the property.
Hole ID
Easting
Northing
Elevation (m)
Azimuth
Dip
Total depth (m)
K-22-208
661571
5435366
58
145
50
497
K-22-206
661593
5435331
54
155
60
422.11
K-22-204
666713
5443698
50
295
55
482
K-22-203
660958
5432372
40
108
45
520.38
Table 2. Drill hole collar details
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $18 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact: Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter @LabGoldCorp
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.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Drilling results from two step out holes, APC-22 and APC-23, have expanded the copper-silver-gold footprint of the Main Breccia discovery at the Apollo target to the north and east.
Step-out drill hole APC-22, which expanded the system more than 100 metres to the north, intersected 426 metres @ 1.51 g/t gold equivalent.
Near the beginning of hole APC-22, two shallow zones of high-grade mineralization were encountered highlighted by 47.25 metres @ 5.45 g/t gold equivalent from 60 metres vertical.
APC-22 was terminated at 734 metres depth due to rig capacity and bottomed while still in mineralization averaging 3.3 metres @ 0.48 g/t gold.
Step-out drill hole APC-23, which intersected a mix of continuously mineralized angular breccia (higher grade) and flour breccia (lower grade), expanded the system to the east by intercepting 71.7 metres @ 1.01 g/t gold equivalent.
Assay results are still pending for holes 25 through 30 drilled into the Main Breccia system at the Apollo target with the 2023 program set to kickoff over the coming days.
Ari Sussman, Executive Chairman commented: “APC-22 is an important drill hole for the Company. Firstly, it significantly expanded the mineralized footprint of the system to the north-northeast and remains completely open for further expansion. Secondly, the near surface high-grade intercept in the hole, which was enriched by both porphyry style copper and gold and low sulphidation derived precious metals flooding the breccia matrix, opens up a new high-grade area for drilling. Drill hole APC-29, for which we do not yet have assay results and was drilled from the same pad, intersected similar style mineralization near surface at even greater intensity than APC-22. We believe that we have a “tiger by the tail” and that the system will continue to grow both in grade and scale with further drilling.”
TORONTO, Jan. 11, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from two step-out holes and one shallow hole drilled into the Main Breccia discovery at the Apollo target (“Apollo”), which is part of the Guayabales project located in Caldas, Colombia. The Main Breccia discovery is a high-grade, bulk tonnage copper-silver-gold porphyry-related system, which owes its excellent metal endowment to multiple phases of mineralization which includes older copper-silver-gold porphyry mineralization and younger, overprinting, precious metal rich sheeted carbonate base metal vein systems.
Details (See Table 1 and Figures 1–4)
Assay results for twenty-five diamond drill holes have now been announced at Apollo with results for a further six holes expected in the near term. This press release deals with results from two step out holes drilled to extend the deposit northwards and eastwards, and a shallow hole drilled on the western side of the deposit. Results and details of three drill holes are summarized below.
APC-22 is a step out hole drilled to the north-northeast from Pad 3 to a maximum depth of 734.8 metres and intercepted three mineralized zones. The two shallow zones are located directly beneath surface outcrops with the initial 47.25 metre intercept commencing at 89.25 metres downhole (60 metres vertical), and a second zone starting at 167 metres downhole with 16.80 metres of mineralization (100 metres vertical). Mineralization in these shallow zones is hosted within the matrix of angular quartz diorite breccia with sulphides consisting of chalcopyrite (1%-2.5%), pyrrhotite (1%) and pyrite (1%-1.5%). Finally, the third zone, which starts at 308.80 metres downhole (276 metres vertical) hit 424.10 metres of continuous mineralization until the end of the drillhole at 734.80 metres in length (650 metres vertical). This long and continuous zone of mineralization consists of chalcopyrite (0.5%) and pyrite (1%-2%) in the breccia matrix which is in turn overprinted by multiple zones of sheeted carbonate base metal (“CBM”) vein material, which are predominantly sphalerite rich with minor galena. The hole bottomed in mineralization due to the limitations of the drill rig with assay results as follows:
47.25 metres @ 5.45 g/t gold equivalent consisting of 4.65 g/t Au, 22 g/t Ag, 0.39% Cu and 30 ppm Mo from 89.25 metres downhole (60 metres vertical depth).
16.80 metres @ 4.56 g/t gold equivalent consisting of 2.59 g/t Au, 79 g/t Ag, 0.50% Cu and 20 ppm Mo from 167.0 metres downhole (100 metres vertical depth).
426.0 metres @ 1.51 gold equivalent consisting of 1.05 g/t Au, 23 g/t Ag, 0.08% Cu and 10 ppm Mo from 308.80 metres downhole (276 metres vertical depth) and includes; 64.85 metres @ 3.67 g/t gold equivalent, 25.8 metres @ 2.59 g/t gold equivalent and 15.55 metres @ 2.04 g/t gold equivalent.
Hole APC-23 was drilled south from pad 5 to a maximum downhole length of 454.9 metres. This step- out hole aimed to test for an eastern extension to the Main Breccia system. The hole intercepted mineralization over 71.7 metres begining at 311.4 metres downhole. Mineralization in this eastern area occurs in both angular (higher grade) and fluid breccia (lower grade) morphologies and is associated with sulphide cement containing both pyrite and pyrrhotite with some overprinting CBM veins with assay results as follows:
Hole APC-24 was a shallow hole drilled south-southwest from Pad 4 to test for western extensions to the main breccia. The hole drilled to a maximum downhole length of 349.9 metres and only intersected mineralized crackle breccia from 101 metres (85 metres vertical depth). Gold and silver mineralization relates to matrix sulphides including pyrite (1%) and pyrrhotite (0.5%) with overprinting CBM veinlets containing sphalerite and some galena. The crackle breccia locates peripherally and above the Main Breccia system. Steeper drilling is thus required in this area to intersect the Main Breccia body. Nevertheless, mineralization was observed in the crackle breccia and returned the following results:
In 2022, a total of 14,975 metres (31 holes) were drilled at the Apollo target. To date assay results have been released for 25 holes with results for the holes that remain outstanding expected in early 2023.
The Company’s 2023 drill program will begin in the coming days and will focus on targeting the high-grade subzones within the Main Breccia system while simultaneously expanding the potential size of the system. Additionally, the Company will remain aggressive in testing new targets at Apollo including the newly generated copper and molybdenum porphyry target located 150 metres south of the Main Breccia system.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 1,000 metres X 1,200 metres area. The Apollo target area hosts the Company’s Main Breccia discovery plus a vein system located above and on the eastern flank of the Main Breccia discovery. Multiple additional untested breccia, porphyry and vein targets have been generated with drilling to begin testing these targets in Q1, 2023. The overall Apollo target area also remains open for further expansion.
Table 1: Apollo Target Assays Results for Holes APC-22 to APC-24
HoleID
From (m)
To (m)
Intercept (m)
Au (g/t)
Ag (g/t)
Cu %
Mo %
AuEq (g/t)*
APC-22
89.25
136.50
47.25
4.65
22
0.39
0.003
5.45
167.00
183.80
16.80
2.59
79
0.50
0.002
4.56
and
308.80
734.80
426.00
1.05
23
0.08
0.001
1.51
Incl
406.15
471.00
64.85
3.16
33
0.08
0.001
3.67
568.10
593.90
25.80
2.23
25
0.05
0.001
2.59
665.85
681.40
15.55
1.59
26
0.07
0.001
2.04
APC-23
311.35
383.05
71.70
0.86
10
0.02
0.001
1.01
359.1
376.4
17.30
1.47
14
0.04
0.001
1.69
APC-24
101.00
151.60
50.60
1.15
10
0.02
0.001
1.28
Incl
110.05
120.20
10.15
2.19
8
0.01
0.003
2.25
128.75
134.75
6.00
2.04
11
0.02
0.001
2.15
and
316.25
317.65
1.40
4.85
26
0.08
0.001
5.15
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) is calculated as follows: (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Main Breccia Discovery at Apollo Highlighting Drill Holes APC-22 & APC-23 and Outstanding Holes Which May Expand the Main Breccia Mineralized Footprint
Figure 1: Plan View of the Main Breccia Discovery at Apollo Highlighting Drill Holes APC-22 & APC-23 and Outstanding Holes Which May Expand the Main Breccia Mineralized Footprint (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-22
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-22 (CNW Group/Collective Mining Ltd.)
Figure 4: Apollo Target: Core Photo Highlights from APC-23
Figure 4: Apollo Target: Core Photo Highlights from APC-23 (CNW Group/Collective Mining Ltd.)
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Information Contact
Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
VANCOUVER, BC / ACCESSWIRE / January 10, 2023 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) (the “Company” or “SWCM”) is pleased to announce the first tranche of results from work completed in 2022 on its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project adjacent to Sibanye-Stillwater’s mining operations in Montana, USA.
A series of news releases are planned to report the results of work on key objectives including expansion of the 2021 Mineral Resource Estimate (the “2021 MRE”), integration of Platreef geologic models, and field campaigns including geophysical and geological field programs both within and outside defined deposit areas. Additional updates are also expected from on-going carbon sequestration testing and other initiatives the Company is currently advancing.
Pine Target Highlights
Rock chip samples taken across approximately two meters of exposed shear in a trench at the Pine target in 2022 returned high-grade gold, palladium and platinum mineralization with an average of 9.0 g/t Au, 0.69 g/t Pd, and 0.69 g/t Pt (see Table 1). Significant nickel and cobalt values are also reported, consistent with past results from this area.
Work in 2022 also included the acquisition of historic core to support the advancement of drill-defined high-grade mineralization at Pine towards completion of an NI-43-101-compliant resource. Mineralization at Pine was not included in the five deposits delineated by the 2021 MRE at the Chrome and Iron Mountain target areas, up to nine kilometers east of Pine within the Stillwater Igneous Complex.
Historic drilling at Pine returned values of 16.94 g/t 3E (16.19 g/t Au, 0.24 g/t Pt, 0.50 g/t Pd) over 7.98 meters and 31.02 g/t 3E (28.7 g/t Au, 1.06 g/t Pt, 1.27 g/t Pd) over 2.6 meters in the area of the 2022 trench samples (see Table 2, Figure 1, and news releases on June 4, 2019, and January 25, 2019).
Mineralization remains open to expansion in all directions including towards very high-level gold-in-soil anomalies extending up to two kilometers west of Pine, in addition to the adjacent high-level palladium, platinum, and nickel-copper soil anomalies shown in Figure 1.
Elevated gold values are also demonstrated in high-grade drill results two kilometers east of Pine at the Chrome Mountain deposit area (see May 3, 2022, news release reporting 13.2 meters of 2.31% Ni, 0.82 g/t Au, 0.43 g/t Pd, 0.25 g/t Pt, 0.35% Cu and 0.115% Co), and nine kilometers east at the Iron Mountain deposit area (see May 29, 2020, news release announcing identification of a “gold suite” of pathfinder elements that co-occur in high-grade samples).
IMAGE 1: Pine Target Location Over Metals in Soils and 2021 Mineral Resource Areas
IMAGE 2: Pine Tareget Location Showing 2021 Mineral Resource Estimate and 3D Induced Polarization Geophysical Survey Results
Table 1 – Assay results from 2022 trench samples at the Pine Target, Stillwater West project
Stillwater Critical Minerals, Tuesday, January 10, 2023, Press release picture
Table 2 – Highlight mineralized drill intercepts from the Pine Target, Stillwater West project
Stillwater Critical Minerals, Tuesday, January 10, 2023, Press release picture
Notes to reported values:
Ni and Pd equivalents 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), and $1,800/oz gold (Au).
Nickel Equivalent in Table 1 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]
Nickel Equivalent in Table 2 is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price / Ni price] + [Co% x recovery x Co price / Ni price]
Palladium Equivalent is determined as follows: PdEq g/t = NiEq x 0.401
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.
Intervals are reported as drilled widths and are not believed to be representative of the true width of mineralization.
Dr. Danie Grobler, Vice-President of Exploration for SWCM, commented, “The Pine samples display an anomalous suite of shear zone hosted mineralization with elevated Au, Ni, Co and PGEs. These shear zones appear to trend in an NNW direction, forming an exciting and important target for advancement. The host rock is intensely sheared and altered Bronzite Cumulate with disseminated to massive chromite and possibly formed the focus for a cross-cutting post-magmatic hydrothermal alteration event. Recently identified precious and base metal in soil anomalies at the Gold Ridge and Pegmatoid Ridge targets to the west of Pine are coincident with large, intense anomalies in geophysical surveys and have not been explored in the past.”
Michael Rowley, President and CEO, commented, “Our expanding understanding of high-grade gold and platinum group element mineralization, alongside the wealth of critical minerals that the Stillwater district is known for, highlights the surprisingly underexplored nature of the lower Stillwater Igneous Complex and the potential that exists for the advancement of multiple world-class ore bodies across the 32-kilometer span of the Stillwater West project. We look forward to additional reports on recent work including our updated mineral resource estimate as those results become available, and beyond that to announcing our 2023 plans for continued expansion in this iconic American district.”
About the Pine Target
The Pine target is situated in the Wild West target area, approximately two kilometers west of deposits at the Chrome Mountain area, and nine kilometers west of deposits at the Iron Mountain area (see Figures 1 and 2). It is on the western side of the 12-kilometer-long resource area that contains the five deposits modeled in the 2021 MRE and has been detailed by Induced Polarization (IP) geophysical surveys conducted by the Company in 2020 and 2021. As shown in Figure 2, the broader Pine target area is characterized by an intense multi-kilometer-scale IP geophysical signature.
Results to date demonstrate very high-grade gold, palladium and platinum mineralization in drilling, soils and rock sampling, in addition to significant battery metals – in particular nickel and cobalt.
Work in 2022 focused on a geological sampling and mapping program, and the acquisition of some of the drill core from the 1983 and 2004 drill campaigns with the objective of finalizing drill targets and advancing drill-defined high-grade gold with PGE-Ni-Cu mineralization towards completion of an NI43-101-compliant mineral resource. At present, seven drill holes from 1983 and 2004 define a precious metals-rich mineralized zone that is 150 meters strike with an average width of 15 meters that has been tested to a depth of 90 meters (see Table 2 and news releases from June 4, 2019, January 25, 2019, and May 13, 2020). Mineralization remains open to expansion in all directions including towards very high-level gold-in-soil anomalies extending up to two kilometers west of Pine, in addition to the adjacent high-level palladium, platinum, and nickel-copper soil anomalies.
High-grade gold plus platinum group elements values have also been reported from drilling and surface samples at the Chrome and Iron Mountain deposit areas in addition to large-scale nickel, copper and cobalt bulk tonnage mineralization.
Pine is one of several priority targets for follow up exploration in 2023.
Mineral Resource Update and Integration of Platreef Geologic Models
The update to the 2021 MRE is entering the final stages of completion with release anticipated early in 2023. The updated models are driven by the integration of geologic models from the Platreef district of South Africa’s Bushveld complex, and the most recent 14-hole expansion drill campaign which returned multiple wide and high-grade battery and precious metal intercepts in wide step-outs from known mineralization at the three most advanced deposit areas within the 12-kilometer core of the project.
Significance of the Platreef Deposit Model
The Stillwater Igneous Complex is well-known to parallel South Africa’s Bushveld Igneous Complex, and developments at the Stillwater complex have generally paralleled those at the Bushveld, highlighting their significant geologic similarities. For example, Sibanye-Stillwater’s high-grade J-M Reef deposit was discovered by the direct application of geologic models developed during discovery of the high-grade Merensky reef deposit in the Bushveld.
More recent developments on the Bushveld have focused on the Platreef deposits, in the northern limb of the Bushveld, which depart from the conventional narrow reef-type mines that dominate global platinum group element mining with the occurrence of thick mineralized horizons that support bulk mining techniques and include much higher battery metal content. The mines of the Platreef are among the largest and most profitable in the world, and their mix of commodities offers an attractive internally hedged suite of in-demand critical minerals that is globally very rare. Starting with Anglo American’s PGE-Ni-Cu Mogalakwena mines in 1993 and continuing today with Ivanhoe’s underground Platreef mine, these mines have demonstrated the world-class nature of these bulk-tonnage, critical mineral systems within the Bushveld complex.
Platreef-style deposits also compare very favorably in an environmental sense as they contain nickel sulphide mineralization that is capable of producing nickel metal with a much smaller footprint than nickel recovered from laterite deposits, which currently represents the majority of global nickel supply. Additional environmental benefits are possible through reaction of atmospheric carbon dioxide with certain ultramafic rocks present in Platreef-style deposits. Testwork is underway to evaluate the potential for commercial-scale carbon sequestration during a possible mining operation Stillwater West.
About Stillwater West
Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V:PGE | OTCQB:PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, 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. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update expected early in 2023.
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, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s high-grade Minto copper district, and Stillwater Critical Minerals in the Stillwater PGM-nickel-copper district of Montana. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.
Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.
2022 rock chip samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.
2004 drilling was conducted by SWCM’s QP while working for Premium Exploration. 1983 drill results are considered historic and have not been independently verified by SWCM.
1980s assay data was obtained from a 1986 report by geologist R.J. Warchola titled “A Hydrothermal Gold Occurrence on Chrome Mountain, Stillwater Complex, Montana” published in the Montana Geologic Society and Yellowstone Bighorn Research Association Joint Field Conference and Symposium: Geology of the Beartooth Uplift and Adjacent Basin: YBRA 50th Anniversary Edition, 1986; and a 1984 internal report by R.J. Warchola titled “Geologic Report on the Pine Claim, Sweetgrass County, Montana February 1984”
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
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.
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.
VANCOUVER, BC / ACCESSWIRE / January 10, 2023 / Granite Creek Copper Ltd. (TSXV:GCX | OTCQB:GCXXF) (“Granite Creek” or the “Company“)is pleased to report positive metallurgical results in support of the upcoming Preliminary Economic Assessment (“PEA”) for the Carmacks copper-gold-silver project (“the Project” or “Carmacks Project”) located in the Minto copper district, within the traditional territories of the Little Salmon Carmacks First Nation and the Selkirk First Nation, Yukon Canada.
Metallurgical testing completed by SGS Vancouver Metallurgy (“SGS”) supports a simplified process consisting of froth flotation for the recovery of copper, gold and silver from both sulphide and oxide ores at Carmacks. These tests demonstrate outstanding recovery levels and concentrate grades in both the sulphide only and blended sulphide/oxide samples, which would be utilized by the mine. Testing was done on samples consisting of material in which copper was present primarily in oxide minerals, where the copper was present as primarily sulphide minerals, and samples that were a blend of oxide and sulphide minerals. Table 1 below highlights selected results from this testing:
Table 1 – Flotation Recovery and concentrate grade.
Recovery %
Concentrate Grade
Sample
Cu
Au
Ag
Cu %
Au g/t
Ag g/t
Sulphide/Oxide blend1
82.0
70.1
68.6
40.1
10.6
104
Sulphide Sample2
93.7
69.0
78.4
42.7
7.7
117
Oxide Sample3
39.8
57.5
37.4
26.2
13.6
93
Locked cycle flotation on blend sample consisting of 60% sulfide and 40% oxide.
The sulphide ore assayed 0.92% Cu, 0.67% S, and 0.24 g/t Au. Gold and copper head grades calculated from the flotation test assays agreed well with the direct head assays.
The oxide ore assayed, 0.60% Cu, 0.06% S, and 0.25-0.82 g/t Au indicating that nugget gold may exist. However, the gold head grade calculated from the flotation tests was consistently between 0.20 g/t to 0.23 g/t with an average of 0.21 g/t. Locked cycle testing was not completed on the oxide samples.
Test work produced a very clean, premium, high-grade concentrate that forms the metallurgical basis for the process flow sheet of the PEA, which the company expects to publish by the end of the current quarter. Flotation optimization and an economic evaluation of the target copper grade versus recovery has been recommended by SGS and will be considered in future test work.
President and CEO, Tim Johnson, stated, “Building on the success of sulphide flotation testing completed in 2021, this study directly supports the PEA allowing a simplified flow sheet consisting of well-established froth flotation technology to be considered for increased overall recoveries at the Carmacks Project. Metallurgy is a key component of the upcoming PEA and with this important work complete we look forward to delivering the updated study to the market within the current quarter.”
Options
Granite Creek also announces that, subject to TSX Venture Exchange approval, it has granted 1,250,000 incentive stock options to directors, officers, employees, and consultants of the Company, under its long-term incentive plan. The options are exercisable for up to five years, expiring on January 10th, 2028 and each option will allow the holder to purchase one common share of the Company at a price of $0.08 per share.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., to the north, and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.
Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Ms. James is a Senior Geologist with TruePoint Exploration and a Project Manager at Carmacks.
Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – January 9, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is presenting at the Emerging Growth Conference on January 11, 2023 at 12:30pm EST online.
Goldshore invites individual and institutional investors as well as advisors and analysts, to attend its real-time, interactive presentation at the Emerging Growth Conference. Brett Richards, Chief Executive Officer of Goldshore, will be presenting and answering questions after the presentation. Please submit your questions in advance to Questions@EmergingGrowth.com or ask your questions during the event.
Register in advance here to ensure you are able to attend the conference and receive any updates that are released.
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com and on the Emerging Growth YouTube Channel. We will release a link to that after the event.
About the Emerging Growth Conference
The Emerging Growth Conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.
The conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and with overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone.
About Goldshore
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. is currently a large shareholder of Goldshore with an approximate 22% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information – Please Contact:
Brett A. Richards President, Chief Executive Officer and Director Goldshore Resources Inc.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; the impact of COVID-19; the ongoing military conflict in Ukraine; and other risk factors outlined in the Company’s public disclosure documents.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
Visual observations from two more step-out diamond drill holes, APC-25 and APC-28, within the Company’s Main Breccia discovery at the Apollo target (“Apollo”) have expanded the mineralized footprint of the system to the west and at depth. These holes are in addition to previously announced visual observations for step-out hole APC-22, which was drilled from Pad 3 to the northeast and cut more than 400 metres of continuous mineralization.
APC-28, which was drilled westwards from Pad 2, is the longest and deepest hole drilled to date into the Main Breccia discovery at Apollo. The hole intersected over 600 metres of continuous breccia mineralization which represents the longest continuously mineralized intercept drilled to date. Visual inspection of the mineralized intercept includes an upper copper rich zone followed by multiple zones enriched by sheeted carbonate base metal (“CBM”) vein overprinting. The hole terminated at approximately 956 metres while still in mineralization.
Hole APC-25, which was drilled to the northwest from Pad 3 and designed as a short step-out hole, cut more than 100 metres of favourable mineralization beginning at 65 metres below surface. Visual inspection of mineralization indicates that the intercept will be enriched in copper with 1.5% to 2.5% chalcopyrite being recorded in the logs. This is the westernmost hole drilled to date within the Main Breccia discovery at Apollo and opens the potential for further shallow mineralization expansion to the west.
Assay results for the remaining nine holes from the 2022 program are outstanding and expected in the near term.
Ari Sussman, Executive Chairman commented:“To date, every time that we have undertaken step-out drilling at the Main Breccia system of Apollo, we have expanded the size of the discovery. The exceptional continuity encountered in drilling highlights the potential for a very large, bulk tonnage deposit with robust grades due to the copper-silver-gold mineralization within the breccia matrix being deposited from both a porphyry source as well as low and intermediate sulphidation vein systems. We will remain aggressive in 2023 with drilling set to resume in the coming days.”
TORONTO, Jan. 5, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce visual observations from two additional step-out holes drilled into the Main Breccia discovery at Apollo (“Apollo”), which is located within the Guayabales project in Caldas, Colombia. The Main Breccia discovery is a high-grade, bulk tonnage copper-silver-gold porphyry-related system, which owes its excellent metal endowment to multiple phases of mineralization which include older copper-silver-gold porphyry mineralization and younger, overprinting, sheeted carbonate base metal vein systems.
Details
Twenty-two diamond drill holes with accompanying assay results have now been announced at Apollo and a further nine holes await assay results in the near term. The Company recently completed two westerly directed step out diamond drill holes, APC-25 and APC-28, drilled from its southernmost drill pad (Pad 3) and from its easternmost drill pad (Pad 2). The holes were designed to test for western and depth extensions to the Main Breccia discovery. The following visual observations are highlighted from the two step out holes:
Hole APC-25 was drilled approximately northwest from Pad 3 to a maximum depth of 215.80 metres and was designed to test for potential westerly extensions to shallow and outcropping breccia mineralization. The hole intersected more than one hundred metres of continuous mineralization beginning at 73 metres down hole (65 metres vertical) and continued until approximately 180 metres downhole (160 metres vertical). The mineralized angular breccia contains a sulphide matrix which includes 1.5% to 2.5% chalcopyrite and between 1% and 3% pyrite plus pyrrhotite. The breccia has been overprinted by a zone of carbonate and base metal (sphalerite and galena) veins which based on previously announced results, host higher gold grades. APC-25 is the westernmost hole drilled into the main breccia discovery and opens the potential for further shallow mineralization in the west.
Hole APC-28 was drilled steeply to the west from Pad 2 to a maximum depth of 956.35 metres and was designed to test for western and depth extensions to the Main Breccia system. The hole intersected a hanging wall zone followed by the main zone of mineralized breccia material. The hanging wall zone was 19 metres thick beginning at 286 metres downhole and then the main zone of mineralization began at 354 metres downhole and continued to the end of the hole at 956.35 metres. The main zone of mineralized breccia hosts an upper portion where the sulphide matrix is rich in copper (chalcopyrite 0.7% to 1.5%), pyrite and pyrrhotite, and a lower portion where multiple zones of overprinting CBM veins were observed. APC-28 is the deepest and longest hole drilled to date and hosts the widest zone of continuous breccia mineralization intercepted to date. The hole was terminated while still in mineralization due to the limitations of the drill rig.
In 2022, a total of 14,975 metres (31 holes) were drilled at the Apollo target. To date assay results have been released for 22 holes with results for the holes that remain outstanding expected in early 2023.
The Company’s 2023 drill program will begin in the coming days and will focus on targeting the high-grade subzones within the Main Breccia system while simultaneously expanding the potential size of the system. Additionally, the Company will remain aggressive in testing new targets at Apollo including the newly generated copper and molybdenum porphyry target located 150 metres south of the Main Breccia system.
Figure 1: Plan View Outline of the Main Breccia Discovery at Apollo Highlighting Step-Out Drill Holes APC-25 and APC-28 (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Selection of Core from Drill Hole APC-25 (CNW Group/Collective Mining Ltd.)
Figure 4: Selection of Core from Drill Hole APC-28 (CNW Group/Collective Mining Ltd.)
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
VANCOUVER, British Columbia, Jan. 04, 2023 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR; OTCQB: HAMRF) (the “Company” or “Silver Hammer”) is pleased to report drill results from the Phase II drilling program at the Silver Strand Project (“Silver Strand” or “the Project”). The Company completed nine drillholes from its previously established underground drilling station that were generally focused on testing the historically mined zone of gold-silver (“Au-Ag”) mineralization at greater depth and further along strike.
Key Highlights and Takeaways:
Six of the nine drillholes returned >100 grams per tonne (“g/t”) Ag and/or >1 g/t Au intercepts.
SS22-017 intersected 2.9 g/t Au over 8.4 metres (“m”), including 4.4 g/t Au and 74.5 g/t Ag over 1.8 m, demonstrating the potential for significant gold grades at Silver Strand.
SS22-015 intersected three mineralized zones, including 613 g/t Ag over 0.5 metres (“m”) extending mineralization to 65 m below historical workings.
SS22-18 also intersected multiple zones: 212 g/t Ag and 0.67 g/t Au over 1.5 m, and 2.45 g/t Au and 8.9 g/t Ag over 4.4 m.
SS22-011 intersected 115 g/t Ag and 2.0 g/t Au over 0.7 m within a broader 5.5 m interval of lower grade Ag mineralization, and an additional 9.9 g/t Ag and 1.7 g/t Au intercept over 2.1 m further downhole in an area with no previous drilling.
2022 drilling results extend mineralization further along strike to the northwest, southeast and to depth (see Figure 1 and Table 1).
“These new results demonstrate consistent gold and silver values in mineralization beneath and adjacent to the historical mine workings at Silver Strand,” stated Interim President and CEO, Warwick Smith. “We are particularly encouraged to see elevated gold values in mineralization extending beyond our previously modeled and interpreted zone that was based on limited historical drilling. We believe we are still very much in the upper part of the structurally controlled Ag-Au system and these new results from a modest (667 m) and cost-effective drilling program coupled with our recently completed geophysics point to the potential for additional lenses of mineralization that we can pursue in subsequent drilling campaigns.”
Figure 1: Previously modelled mineralized zone and mined out areas shown with highlighted Phase II results. Downhole grade class colours shown on drillhole traces combine anomalous values for gold and silver.
Program Details and Interpretation and Summary of Results
A total of nine HQ (6.35 centimetre) core holes were completed by local drilling contractor, Nasco Industrial Service and Supply (NISS), totaling 667 metres (“m”). Eight of the nine holes, drilled from an underground drilling station established by the Company, encountered mineralization within the anticipated structural and silicified zone which measures 30 m wide over a 170 m strike length to-date. This structural zone is defined by multiple, near-vertical fractures some of which are intruded by post-mineral mafic dikes that can be traced along the surface by magnetics surveying.
The results from the Phase II drilling program at Silver Strand demonstrate that the mineralized system continues well outside of the previously mined areas. Drillholes SS22-009, SS22-011, SS22-012, and SS22-013 were designed to test to the southeast beyond the modelled Silver Strand mineralization. Three of these drillholes successfully intersected Au-Ag mineralization and lend support to the Company’s view that the known Silver Strand zone can be extended to greater depth and that there is good potential for additional mineralized ‘chutes’ along strike. Besides yielding encouraging intercepts of Au-Ag mineralization the Phase II drillholes confirmed that the known mineralization is hosted within a 20 to 40 m wide zone of pervasive silicification that is superimposed on fractured quartzite rocks believed to belong to the Revett formation, the most productive ore-hosting formation in the Coeur d’Alene mining district. Also, the drillholes intersected at least four post-mineral mafic dykes that are interpreted to have been intruded into the quartzites along structures some of which had already acted as conduits for the precious metal-enriched hydrothermal fluids. In fact, the better mineralized intercepts are found along the faulted contacts of a number of the mafic dykes.
Going forward, the Company will be updating its 3D model of the Silver Strand deposit, incorporating lithological and alteration information as well as the multi-element geochemical data produced by the drillhole assays from the two drilling programs. The new model will then be examined in the context of the existing magnetics and induced polarization survey data the Company has acquired over the known mineralization. It is anticipated that a geophysical ‘signature’ will be defined for the Silver Strand structure which will allow it to be traced across the property, a potential strike length of five kilometers. This will then translate into new high-potential drill targets being defined on the 5.85 km² property.
Technical Background
The world-class northern Idaho silver-lead-zinc mining district is underlain by Proterozoic fine-grained metasedimentary rocks of the Belt Supergroup. Regional compressive tectonism folded the quartz-rich sandstones, siltstones and mudstones into WNW-ESE trending anticlines and synclines, with steeply inclined major fractures being developed along the limbs of these folds, particularly within quartz-rich meta-sandstones (eg. Revett formation quartzites). A major hydrothermal event, possibly related to the emplacement of the Idaho Batholith to the south of the district, deposited into some of the more continuous quartzite-hosted fractures iron carbonate and quartz followed by Pb, Zn, Cu-Sb-Ag sulphides giving rise to the productive Pb-Zn and Ag-rich veins of the Coeur d’Alene district. Subsequent to the regional Pb-Ag-Zn mineralizing event, the folded Belt metasedimentary rocks were subjected to ESE-WNW directed compression that resulted in dextral shearing along pre-existing structures giving rise to the district’s major strike-slip faults, including the Osburn Fault.
Table 1: Highlighted Drill Results from Phase II Campaign at Silver Strand
*All reported intervals are downhole core lengths. Estimated true thickness’ range from 50% to 90% depending on the angle of the drillholes.
Quality Assurance, Quality Control
Sample Security
The following measures were taken to ensure sample security: samples were submitted to the American Analytical Services (AAS) by company personnel following the guidelines and procedures of Silver Hammer Mining Company; only authorized personnel have attended the samples; core was logged at the Silver Hammer core processing facility and then transferred to the AAS lab in Osburn, Idaho.
Analysis Suite
All drill core samples were analyzed by AAS using conventional assay methods involving the fire assaying of 30-gram charges of pulverized sample material for gold and silver, with ICP finishing. Gravimetric analyses were to be applied to any samples that yielded Au values greater than 10 g/t Au and 10 g/t Ag. In addition, pulverized charges were collected for all core samples and were entirely dissolved using 4-acid digestion, with the final solution being analyzed for 35 elements using the ICP-MS method.
Audits or reviews
Internal review of sampling techniques, data, and drilling results by the Company’s management is routinely done through the course of the project.
Standards, Blanks and Duplicates
For quality assurance/quality control purposes, the batches of core samples sent to AAS for assaying and ICP analyses were regularly infused with ‘duplicate’, ‘standard’ and ‘blank’ samples. So-called ‘standard’ samples consisted of certified reference material (OREAS 611) of pulverized rock obtained from OREAS, a company that provides certified reference materials. The ‘blank’ samples consisted of barren landscaping gravel, while the ‘duplicates’ were in fact laboratory duplicates created during sample preparation at the labs of AAS. The laboratory also provided analytical results for their own reference samples for further a QA/QC check. The standards and blanks were inserted into the assay stream by Silver Hammer geologists.
Qualified Person
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.
On Behalf of the Board of Silver Hammer Mining Corp.
Warwick Smith, Interim President and CEO Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For investor relations inquiries, contact: Kristina Pillon, High Tide Consulting Corp. T: 604.908.1695 E: investors@silverhammermining.com
For media inquiries, contact: Adam Bello, Primoris Group Inc. T: 416.489.0092 E: media@primorisgroup.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.
The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
VANCOUVER, British Columbia, Jan. 03, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces its intent to apply to the Toronto Venture Exchange (the “TSXV”) to re-price and extend previously issued warrants.
Terms of the Warrant Re-pricing Application
On a post-consolidation basis (see October 28, 2022 release), the Company has 3,272,719 common share purchase warrants outstanding, from previous private placement financings, with an exercise price of $0.45 (the “$0.45 Warrants”). The Company is applying to amend the $0.45 Warrants such that these warrants will have their useful lives extended to May 2025, and have their exercise price re-priced down to $0.20 per warrant share.
On a post-consolidation basis (see October 28, 2022 release), the Company has 1,382,503 common share purchase warrants outstanding, from previous private placement financings, with an exercise price of $0.72 (the “$0.72 Warrants”). The Company is applying to amend the $0.72 Warrants such that these warrants will have their useful lives extended to May 2025, and have their exercise price re-priced down to $0.20 per warrant share.
On a post-consolidation basis (see October 28, 2022 release), the Company has 6,517,037 common share purchase warrants outstanding, from previous private placement financings, with an exercise price of $0.90 (the “$0.90 Warrants”). The Company is applying to amend the $0.90 Warrants such that these warrants will have their useful lives extended to May 2025, and have their exercise price re-priced down to $0.15 per warrant share.
A total of 11,172,259 outstanding warrants are included in the aforementioned warrant re-pricing application. Re-pricing of the warrants is subject to TSXV approval. This is an initial release, and an updating release will be provided once the Company has received TSXV approval for the re-pricing.
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. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go Lithium project.
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 Canada and the U.S.
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) 754-2855
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.
Sign up to Stay Up to Date on News and Progress from Page
