VANCOUVER, British Columbia, Oct. 20, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that it is applying to the TSX Venture Exchange (the “TSXV”) to consolidate its outstanding common shares (the “Common Shares”) on the basis of one (1) post-consolidation Common Share for each six (6) pre-consolidation Common Shares (the “Consolidation”). The Company currently has 157,585,212 Common Shares issued and outstanding and following the completion of the Consolidation will have approximately 26,264,202 Common Shares issued and outstanding.
No fractional Common Shares will be issued as a result of the Consolidation. Each fractional Common Share following the Consolidation that is less than one-half of a share will be cancelled and each fractional Common Shares that is at least one-half of a share will be rounded up to the nearest whole Common Shares. No cash consideration will be paid in respect of fractional Common Shares. All options and warrants outstanding will reflect the change in accordance with the Consolidation. Registered holders of Common Shares will receive a letter of transmittal from Computershare investor Services inc. with instructions on how to exchange existing share certificates for new post-Consolidation share certificate.
The Consolidation remains subject to acceptance by the TSXV. The Common Shares are expected to begin trading on the TSXV on a post-share Consolidation basis within two or three business days following the date when the TSXV issues its final bulletin approving the Consolidation. The Company will issue an updating news release once such approval has been obtained.
There will be no name change and no ticker symbol change in connection with the Consolidation and shareholder approval is not required.
Judson Culter, CEO at Rover Metals, states “a consolidation of our Company’s securities is necessary to position Rover for growth and success with our new critical mineral projects. Both the Let’s Go Lithium Project, and the IML Zinc-Copper Project require Phase 1 and Phase 2 Exploration Programs. Additionally, the Company’s existing gold projects require expanded Phase 2 Exploration Programs. Management and the Directors of the Company believe that the timing is right for a consolidation as the Company will need to finance future exploration at all of its mineral resource projects.”
About Rover Metals Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing a diverse portfolio of mineral resource projects: (1) Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT, Canada; as well as (3) Gold in NT, Canada. 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) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Plan map of Kingsway Gold occurrences showing latest drill intersections.
TORONTO, Oct. 20, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce results from recent drilling targeting the 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 30.67 g/t Au over 1.1 metres from 208.85 metres that included 99.31 g/t Au over 0. 3 metres in Hole K-22-190 from the north end of Big Vein. The intersection is approximately 75 metres north of the discovery outcrop and is downdip of Hole K-22-177 that intersected the longest interval yet of 2.02g/t Au over 32m (see news release dated October 7, 2022). Also at Big Vein, Hole K-22-194 intersected 1.27 g/t Au over 6.17 metres from 115 metres that included 2.3 g/t Au over 3m. At Big Vein Southwest, Hole K-22-184 intersected 4.67 g/t over 1.64m from 336.25m that included 8.97 g/t over 0.75m.
“We continue to have drilling success at the north end of Big Vein where several significant intercepts have now been received, including 6.07 g/t Au over 19m in hole K-21-111 and 2.02 g/t over 32m in Hole K-22-177 and now 30.67g/t Au in Hole K-22-190,” said Roger Moss, President and CEO. “The down dip mineralization in K-22-190 shows the high-grade prospectivity of this area which we are currently following up. Big Vein has been drilled over a strike length of approximately 520 metres and remains open both to the northeast and southwest. Two drill rigs are currently drilling at Big Vein to test for extensions of the mineralization in both directions.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
Zone
K-22-194
20
21
1
1.05
Big Vein
24
25
1
1.04
115
121.17
6.17
1.27
including
115
118
3
2.30
265
268
3
1.52
K-22-192
nsv
Golden Glove
K-22-191
nsv
CSAMT
K-22-190
21.65
22
0.35
1.00
Big Vein
124
125
1
1.15
199.7
200
0.3
2.31
208.85
209.95
1.1
30.67
including
209.65
209.95
0.3
99.31
233.5
235
1.5
1.10
248
249
1
1.03
310.45
311
0.55
4.19
K-22-186
nsv
CSAMT
K-22-184
333
338.59
5.59
1.47
Big Vein SW
including
336.25
337.89
1.64
4.67
including
336.25
337
0.75
8.97
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
A total of 58,265 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 3,100 metres of core (11.5% of the total submitted).
The Company has $21 million in cash and is well funded to carry out the remaining 42,000 metres of the planned drill program as well as further target generation on the property.
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 $21 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 169,189,979 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.
KELOWNA, BC / ACCESSWIRE / October 19, 2022 / Diamcor Mining Inc. (TSXV:DMI), (OTCQB:DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announced today it has delivered approximately 5,593 carats of rough diamonds recovered from the processing of quarry material at the Company’s Krone-Endora at Venetia Project (the “Project”) for the Company’s first tender and sale of the current quarter ending December 31, 2022. The total includes several individual gem quality diamonds in the Specials (+10.8 carats) category, with the largest being 43.55 carats in size. Despite being the first of two planned tenders and sales in the quarter, the total rough diamonds delivered to date already represent an increase of 148% over the total carats sold in the previous quarter.
“This initial delivery of rough diamonds for the current quarter continues to demonstrate our Company’s ability to successfully adjust and refine operations as required to achieve sustained operational growth”, commented Diamcor CEO Mr. Dean Taylor. “The continued recovery of several individual gem quality rough diamonds in the +10.8 carat specials category, including the 43.55 carat stone, confirms the Project’s potential to achieve strong average dollar per carat results, and the recovery of larger, higher value, gem quality diamonds.“
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, the OTCQB International under the symbol DMIFF, and on the Frankfurt Exchange under the symbol DC3A. The Company has a well-established operation in South Africa with a proven history of supplying rough diamonds to the world market. Diamcor has established a long-term strategic alliance with world famous luxury retailer Tiffany & Co. and is now in the final stages of developing the Krone-Endora at Venetia Project co-located with De Beer’s flagship Venetia mine.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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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.
Burlington, Ontario–(Newsfile Corp. – October 18, 2022) – On September 26, 2022, Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) disclosed it had found significant levels of palladium, platinum, rhodium, osmium and gold in its concentrate.
To help identify with greater precision the location of the source of the platinum, palladium, rhodium, osmium and gold, SBMI recently took samples directly from locations around the Buckeye Silver Mine and the Company’s mill site, including from crushed material, directly from the vein, from diabase samples from the wall rock and from tailings from the run of lower grade material. The location from which those samples were taken and their assay results are below:
Assay Results are in Grams per Tonne
Sample ID
Au
Pd
Pt
Rh
Ir
Ru
Os
Diabase
1
14.3
23.7
0.246
0.193
0.151
nd
0.415
2
22.3
18.9
0.172
0.076
nd
nd
0.333
3
8.17
15.9
0.093
0.083
nd
nd
nd
4
22.3
18.2
0.097
0.072
nd
nd
nd
Crushed ore 1
15.1
9.07
nd
0.157
nd
0.949
0.08
2
23.2
11.6
0.064
0.17
nd
0.731
0.063
3
34.1
16.2
0.15
0.115
0.111
0.259
0.129
4
16.2
16.4
0.127
0.118
0.083
nd
0.097
5
37.9
15.6
0.107
0.058
0.278
0.18
0.053
6
26.6
17.9
0.127
0.085
0.08
nd
nd
7
25.5
12.1
0.085
0.052
nd
0.265
nd
8
23.9
13.7
0.106
0.069
nd
nd
nd
Head ore
1
18.8
13.5
0.093
0.062
nd
nd
nd
2
21.9
11.7
0.06
nd
nd
0.218
nd
3
37.2
16
0.105
nd
nd
0.137
nd
4
30.6
13.6
0.07
nd
nd
0.306
nd
5
22.9
12
0.07
nd
nd
0.306
nd
6
24.3
10.4
0.061
nd
nd
0.251
nd
Tailings
1
18.5
12.2
0.079
0.064
nd
0.211
nd
2
19.9
11.5
0.063
0.068
nd
0.272
nd
3
28.8
16.5
0.091
nd
nd
0.174
nd
4
26.8
16.2
0.085
0.104
nd
nd
nd
5
37.1
16.9
0.102
0.083
nd
nd
nd
6
31.8
17.2
0.093
0.051
nd
nd
nd
Samples from all locations above were taken to be as representative of the local mineralized material as possible. Samples taken from the crushed ore are by their nature representative of the source mineralized material.
In management’s opinion, this round of results provides further strong evidence for the conclusion that the Buckeye Silver Mine may host economic amounts of platinum, rhodium, palladium, osmium and gold, in addition to the original silver targets. Management has engaged third party engineers, metallurgists and geologists to assist in creating a new process flow sheet and in determining the nature of the mineralized material at the Buckeye Silver Mine. Without effecting selective disclosure, management has also had positive preliminary discussions with potential financiers, pending the delivery of the flow sheet and a rough budget.
QAQC
For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2022, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks.
Readers are cautioned that although management has made every reasonable effort to ensure the samples are as representative of the local mineralized material as possible, the samples above (apart from the crushed ore samples) are ultimately random by nature and may not be representative of the mineralization throughout the Buckeye Silver Mine.
Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; the presence and quantity of minerals in the Company’s properties; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
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Joining us for a conversation is Ari Sussman of Collective Mining, Colombia’s Newest Exploration Company. Collective Mining has just announced another significant development coming from the flagship Guayabales Project. Today’s discussion will focus on the Main Breccia at the Apollo Target which is delivering High Grade along with some remarkable continuity with a new Strike of 385 Meters, Width at 350 Meters, and Vertical 825 Meters!
Collective Mining: Rapidly advancing, large-scale gold-copper-silver-moly porphyry and breccia targets with related high-grade vein systems in the mining-friendly department of Caldas in Colombia
Collective Mining’s two projects the Guayabales (Flagship) and the San Antonio (Secondary) are situated in Marmato, an underexplored yet multi-million ounce, high-grade gold and silver district located in the Middle Cauca belt in Colombia. With six out of eleven targets drilled, the Company has made three promising grassroot discoveries to date and is awaiting assay results on a potential fourth discovery. Drilling activity continues at a brisk pace with a 20,000+ metre drill program in 2022.
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Visual observations from two step-out diamond drill holes within the Company’s Main Breccia discovery at the Apollo target have intersected the most cumulative mineralization in drill holes completed to date as well as significantly expanded the known dimensions of this exciting new discovery.
Hole APC-17, which was drilled due north from Pad 3, cut more than 600 metres in total of favourable mineralization before terminating at approximately 913 metres while still in mineralization. This is the most mineralization encountered in a drill hole to date at the Apollo target.
Hole APC-22, which was drilled to the northeast from Pad 3, cut more than 400 metres in total of favourable mineralization before terminating at 734 metres while still in mineralization.
As a result of both new holes, the potential total volume of rock hosting the Main Breccia discovery within it has approximately tripled in size with the dimensions now measuring 385 metres along strike by 350 metres width by 825 metres depth versus prior dimensions of 385 metres x 190 metres x 500 metres. The discovery remains wide open for expansion and further step-out holes are currently being designed.
Three rigs continue to drill at Apollo with additional assay results anticipated in the near term.
TORONTO, Oct. 11, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce visual observations from two step out holes drilled into the Apollo target (“Apollo”) which is located within the Guayabales project in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target with previously announced intercepts including:
Hole
Intercept (m)
Au (g/t)
Ag (g/t)
Cu %
Zn %
Pb %
Mo %
AuEq (g/t) *
APC-2
207.15
1.46
45
0.31
0.08
0.05
0.002
2.68
APC-8
265.75
1.26
55
0.22
0.07
0.05
0.045
2.44
APC-12
237.70
1.15
72
0.38
0.08
0.07
0.001
2.88
* See press releases dated August 10th, September 13th and October 6th respectively.
As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.
“These two new diamond drill holes are incredibly exciting as we have significantly expanded the size of the Main Breccia discovery at Apollo and while doing so, we have cut the longest intercepts of both total and continuous mineralization completed to date. Importantly, the system remains open to the north and northeast as both holes bottomed in mineralization. We look forward to continued aggressive drilling in order to see how much more this exceptional discovery can grow,” commented Ari Sussman, Executive Chairman.
Details (See Figures 1–4)
Fourteen diamond drill holes with accompanying assay results have now been announced at Apollo and a further eleven holes are outstanding. The Company recently completed two northerly directed diamond drill holes, APC-17 and APC-22, from its southernmost drill pad (Pad 3), which were designed to test for mineralized extensions to the Main Breccia discovery. The following visual observations are highlighted from the two step out holes:
Hole APC-17 was drilled approximately due north to a maximum depth of 912.60 metres. The hole intersected more than 70 metres of mineralization beginning at 119 metres down hole (100m vertical) and another 545 metres of mineralization from 365 metres down hole (330m vertical) to the end of the hole (825m vertical). Total mineralization in this diamond drill hole exceeded 600 metres and is the most mineralization drilled in a single hole to date into the Main Breccia discovery at Apollo. The shallow intercept is hosted within angular porphyry related breccia containing chalcopyrite (1-2%) with pyrite and pyrrhotite and is located directly beneath recently discovered mineralization outcropping at surface. The deeper and longer intercept is also hosted within angular porphyry related breccia with the matrix filled with pyrite, chalcopyrite and overprinting carbonate base metal veins (“CBM”). The hole was terminated at 912.6 metres while still in mineralized breccia.
Hole APC-22 was drilled to the northeast to a maximum depth of 734.8 metres and intercepted three zones yielding more than 400 metres of total breccia mineralization. The two shallow zones are located directly beneath surface outcrops and the initial 37 metre intercept commenced at 100 metres downhole (60m vertical), while the second shallow 19 metre intercept began at 167 metres down hole (100m vertical). Mineralization is hosted within angular porphyry breccia with a matrix of chalcopyrite (1-2%) and pyrrhotite and overprinting zones of sheeted CBM veins. The deeper intercept commenced at 308 metres downhole (276m vertical) and continued within mineralized porphyry related angular breccia until the hole was terminated at 734.8 metres.
Visual logging of APC-17 and APC-22 have significantly increased the overall maximum potential volume of rock hosting the Main Breccia discovery, which now measures up to 385 metres along strike by 350 metres width by 825 metres depth (prior dimensions were 385 metres x 190 metres x 500 metres). The system remains open for expansion.
Three rigs continue to drill at Apollo with additional assay results anticipated in the near term.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metres X 700 metres area. The Apollo target area hosts the Company’s new Main Breccia discovery plus a vein system flanking its eastern side. Multiple additional untested breccia, porphyry and vein targets have been generated and will be drilled in due course. Lastly, the overall Apollo target area also remains open for further expansion.
Figure 1: Plan View of the Main Breccia Discovery at Apollo Highlighting the Significant Extensions to the Zone Based on Drill Holes APC-17 and APC-22 (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Images of Core from Hole APC-17 (CNW Group/Collective Mining Ltd.)
Figure 4: Images of Core from Hole APC-22 (CNW Group/Collective Mining Ltd.)
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.
The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program at its flagship Guayabales project, a total of seven major targets have been defined. The Main Breccia discovery within the Apollo target is the most important to date and is characterized by bulk tonnage, high-grade copper-silver gold mineralization with highlight drill results including: 207.15 metres @ 2.68g g/t AuEq, 265.75 metres at 2.44 g/t AuEq and 237.7 metres at 2.88 g/t AuEq. Other grassroots discoveries include near-surface discovery holes yielding 301.9 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.33 g/t AuEq at the Donut target, and 102.2m @ 1.53 g/t AuEq at the Trap target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations). The Company’s fully funded, 20,000 metre drill program for 2022 is ongoing with a significant number of assay results expected through the remainder of the year.
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, BC / ACCESSWIRE / October 10, 2022 / Metallic Minerals Corp. (TSX.V:MMG; OTCQB:MMNGF) (“Metallic” or the “Company”) is pleased to announce the Company will be presenting at the Emerging Growth Conference on October 12th, 2022 at 9:00am PT (12:00pm ET).
Metallic Minerals Corp., Monday, October 10, 2022, Press release picture
This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with CEO, Greg Johnson, who will discuss global and domestic metals markets, provide an overview of our key projects and upcoming catalysts and participate in a live Q&A session.
Metallic Minerals CEO, Greg Johnson, commented, “We are very pleased to be participating in our first Emerging Growth event and, against the backdrop of recently rebounding metals strength, feel this is excellent timing to introduce investors to the mining sector, the opportunities that abound and the value potential of Metallic Minerals as a precious and base metals explorer with exceptional assets. In 2022, we conducted exploration and drill campaigns at both our high-grade Keno Silver project adjacent to Hecla Mining in Yukon, Canada and our La Plata copper-silver-gold project in Colorado, USA. Results from both are pending receipt of assays and we anticipate news flow in that regard to commence soon.”
About the Emerging Growth Conference
The Emerging Growth conference is an effective way for public companies to present opportunities and communicate major announcements to the investment community in a time efficient manner. Conference focus and coverage includes companies in a wide range of growth sectors with strong management teams, focused strategy and execution, and overall potential for long-term growth. The audience includes individual and institutional investors, as well as investment advisors and analysts.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Hecla_Mining%253BLa_Plata%253BCompany%253BMineral%253BKeno_City%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25227cad23d4-6755-3b0f-9a16-c008e5359400%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
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.
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.
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In this article
There’s a global migration underway in the gold market, as western investors dump bullion while Asian buyers take advantage of a tumbling price to snap up cheap jewelry and bars.
Rising rates that make gold less attractive as an investment mean that large volumes of metal are being drawn out of vaults in financial centers like New York and heading east to meet demand in Shanghai’s gold market or Istanbul’s Grand Bazaar.
In fact, it can’t move fast enough.
Logistical issues combined with quirks of the market are making it difficult for traders to get enough bullion where it’s wanted. As a result, gold and silver are selling at unusually large premiums over the global benchmark price in some Asian markets.
“The incentive to hold gold is a lot lower. It’s going from west to east now,” said Joseph Stefans, head of trading at MKS PAMP SA, a gold refining and trading firm. “We are trying to keep up as best we can.”
Gold items displayed in the window of a jewelry shop inside the Grand Bazaar in Istanbul, Turkey.Photographer: Nicole Tung/Bloomberg
The rotation of metal around the world is part of a gold-market cycle that has repeated for decades: when investors retreat and prices drop, Asian buying picks up and precious metals flow east — helping to put a floor on the gold price during times of weakness.Sponsored ContentWomen are Finding Their Voices in Financial PlanningFirst Horizon Bank
Then, when gold eventually rallies again, much of it returns to sit in bank vaults beneath the streets of New York, London and Zurich.
Since peaking in March, gold prices have tumbled 18% as the Federal Reserve’s aggressive rate hikes caused mass liquidation by financial investors.
More than 527 tons of gold has poured out of New York and London vaults that back the two biggest Western markets since the end of April, according to data from the CME Group Inc. and London Bullion Market Association.
At the same time, shipments are rising into big Asian gold consumers like China, whose imports hit a four-year high in August.
Gold Flows East
Asia has net-imported gold from the West since Aprilhttps://www.bloomberg.com/toaster/v2/charts/8e101e907831c2855279f794770d9a13.html?brand=business&webTheme=default&web=true&hideTitles=true
Source: Swiss Federal Customs Administration
Note: Data shows net-imports from Switzerland from May to August
While plenty of gold is heading east, it’s still not enough to meet demand. Gold in Dubai and Istanbul or on the Shanghai Gold Exchange has traded at multi-year premiums to the London benchmark in recent weeks, according to MKS PAMP — a sign that buying is outstripping imports.
“Demand typically picks up when prices fall,” said Philip Klapwijk, managing director of Hong Kong-based consultant Precious Metals Insights Ltd. “Buyers want to source metal at the lower price and in the local physical market in question there may not be sufficient metal available when the price falls, so the local premium increases.”
Gold in Thailand is also trading at a premium to London prices, due to a lack of supply and weakness in the local currency, according to Jitti Tangsithpakdi, the president of Thailand’s Gold Traders Association.
In India, it is silver that is seeing big premiums. The differential has soared recently to $1, more than triple the usual level, according to consultancy Metals Focus Ltd.
“Right now the demand for silver is huge as traders restock,” said Chirag Sheth, the firm’s principal consultant in Mumbai. “Premiums could remain elevated during the festival season that concludes with Diwali.”
Analysts say that much of the precious metals feeding Asia’s appetite is coming out of vaults run by CME Group, which back the Comex futures market in New York.
Market dislocations early in the pandemic drove a massive surge in prices there, forcing banks to build large stockpiles to cover their futures positions. In recent months gold has traded at a discount on the Comex compared to London, and those inventories are now being drawn down to meet Asian demand.
However, it can be slow going, partly because Asian buyers tend to prefer one-kilogram bars over larger sizes. To fill a standard shipment box of 25 kg of gold, physical traders must take delivery of multiple Comex gold futures, often backed by bullion in different warehouses.
Traders say they are facing other logistical challenges as well, which are contributing to the high Asian premiums.
“Getting stuff on boats or on planes is a bit harder than it used to be,” said MKS PAMP’s Stefans. “It’s really just a classic example of demand far out-pacing supply.”
— With assistance by Swansy Afonso, Suttinee Yuvejwattana and Masumi Suga
North Vancouver, British Columbia–(Newsfile Corp. – October 4, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce assay results from recent wide-diameter (PQ) core drilled for metallurgical test work at its Tuvatu Gold Project in Fiji.
These results complement the excellent results obtained by the infill drill program completed earlier this year and reported on February 23, 2022 (Lion One Reports Additional High Grade Intercepts, Completes Phase 1 Infill Drill Program at Tuvatu – Lion One Metals). The additional results provided by the metallurgical drill program reported here will be applied to the ongoing remodelling of the Tuvatu orebody that will inform the resource update scheduled for Q1 2023. Results of the metallurgical study that will be based on the material provided by this drilling program will be reported as they are received.
Highlight intercepts include:
TUDDM-001 intersecting the URW1 mineralized vein:
14.96 g/t Au over 24.0m from 81.8-105.8m including:
– 105.19 g/t Au over 0.3m from 86.9-87.2m
– 18.67 g/t Au over 0.6m from 91.4-92.0m
– 19.43 g/t Au over 0.6m from 93.2-93.8m
– 26.59 g/t Au over 0.9m from 95.6-96.5m
– 14.80 g/t Au over 0.6m from 96.5-97.1m
– 23.43 g/t Au over 0.6m from 97.1-97.7m
– 13.63 g/t Au over 0.6m from 97.7-98.3m
– 33.76 g/t Au over 0.6m from 98.3-98.9m
– 22.36 g/t Au over 0.6m from 98.9-99.5m
– 6.04 g/t Au over 0.9m from 99.5-100.4m
– 78.64 g/t Au over 2.4m from 103.4-105.8m which includes:
– 9.44 g/t Au over 0.6m from 104.6-105.2m
– 297.70 g/t Au over 0.6m from 105.2-105.8m
TUDDM-003 intersecting the URW1 mineralized vein:
65.13 g/t Au over 3.2m from 78.8-82.0m including:
– 98.88 g/t Au over 2.1m from 78.8-80.9m which includes:
– 58.18 g/t Au over 0.3m from 78.8-79.1m
– 624.81 g/t Au over 0.3m from 79.1-79.4m
23.27 g/t Au over 3.3m from 118.9-122.2m including
– 50.67 g/t Au over 1.5m from 118.9-120.4m which includes:
– 19.49 g/t Au over 0.9m from 118.9-119.8m
– 97.45 g/t Au over 0.6m from 119.8-120.4m
TUDDM-004 intersecting the SKL and URW1 mineralized veins:
260.44 g/t Au over 0.3m from 55.7-56.0m
213.52 g/t Au over 0.9m from 56.6-57.5m
40.08 g/t Au over 0.9m from 78.2-79.1m
10.03 g/t Au over 3.0m from 130.6-133.6m including:
– 59.82 g/t Au over 0.3m from 130.6-130.9m
– 11.39 g/t Au over 0.3m from 130.9-131.2m
– 13.64 g/t Au over 0.3m from 131.2-131.5m
TUDDM-005 intersecting the Murau (M) mineralized vein:
9.30 g/t Au over 5.4m from 127.7-133.1m including:
– 31.56 g/t Au over 0.6mfrom 128.9-129.5m
– 14.99 g/t Au over 1.2mfrom 129.5-130.7m
– 6.08 g/t Au over 0.9mfrom 132.2-133.1m
22.80g/t Au over 1.5m from 140.3-141.8m including:
– 9.55 g/t Au over 0.3m from 140.6-140.9m
– 10.54 g/t Au over 0.3m from 140.9-141.2m
– 58.59 g/t Au over 0.3m from 141.2-141.5m
– 32.03 g/t Au over 0.3m from 141.5-141.8m
TUDDM-006 intersecting the Murau (M) Lodes
9.87g/t Au over 3.9m from 141.8-145.7m including:
– 10.01g/t Au over 1.2mfrom 141.8-143.0m
– 13.74g/t Au over 0.6m from 143.3-143.9m
– 13.49g/t Au over 1.2m from 144.5-145.7m
All six metallurgical drill holes were drilled from surface using wide diameter PQ core (85mm) between June 6 and August 10, 2022. The purpose of the program was to collect samples from areas scheduled for mining in the first 3 years of development. These assays presented are a result of one eighth split core, with the remaining seven eighths being sent to Bureau Veritas metallurgical laboratory in Vancouver, Canada for test work to assist in the design of optimised recoveries. As this is a metallurgical program, the holes were designed to intersect some vein sets at an oblique angle in-order to maximise mineralized sample recovery and as such, while drill widths does not necessarily represent true widths, the results provide information on the continuity of Au grades. The URW1 lode is interpreted to strike north-south and dip steeply east and has a true width of approximately 1 to 7 metres. The Murau lodes are interpreted to strike east-west with a moderate southerly dip with multiple lodes of true-width between 0.3 and 4 metres. The SKL lodes are dip subhorizontally, with true-widths of between 0.3 and 1 metre.
Lion One CEO Walter Berukoff commented, “These latest results underscore the continuous, high-grade nature of the mineralization at Tuvatu. Each batch of drill results adds enormous value to the project in both addition of ounces to the total metal budget as well as clarification of important upside potential.”
Figure 1. Image from Leapfrog software long-section view west showing select results from metallurgical drilling campaign. The Murau (red) and SKL lode (purple) orientations are projected on to section.
Figure 2. Image from Leapfrog software plan view showing select results from metallurgical drilling campaign. The general outline of the Murau (red) and SKL lode (purple) is projected onto the plan.
Table 1: Drilling intervals returning >0.5 g/t Au. Intervals > 3.0 g/t Au cutoff are shown in red, and intervals > 9.0 g/t Au or longer than 1.2m are bolded.
Hole ID
From (m)
To (m)
Interval
Metres
Lode
TUDDM-001
62.0
62.9
0.9
0.58
SKLW7
TUDDM-001
70.4
71.3
0.9
0.78
SKLW8
TUDDM-001
76.4
77.3
0.9
1.04
Undefined
TUDDM-001
79.4
80.6
1.2
1.56
SKLW12
TUDDM-001
81.8
105.8
24.0
14.96
URW1
Incl.
86.9
87.2
0.3
105.19
URW1
Incl.
91.4
92.0
0.6
18.67
URW1
Incl.
93.2
93.8
0.6
19.43
URW1
Incl.
95.6
96.5
0.9
26.59
URW1
Incl.
96.5
97.1
0.6
14.80
URW1
Incl.
97.1
97.7
0.6
23.43
URW1
Incl.
97.7
98.3
0.6
13.63
URW1
Incl.
98.3
98.9
0.6
33.76
URW1
Incl.
98.9
99.5
0.6
22.36
URW1
Incl.
99.5
100.4
0.9
6.04
URW1
Incl.
103.4
105.8
2.4
78.64
URW1
Which Incl.
104.6
105.2
0.6
9.44
URW1
and incl.
105.2
105.8
0.6
297.70
URW1
TUDDM-001
107.3
112.4
5.1
4.40
URW1
Incl.
107.3
107.9
0.6
17.00
URW1
Incl.
107.9
108.5
0.6
5.63
URW1
TUDDM-001
122.9
123.8
0.9
6.07
M7
Incl.
122.9
123.5
0.6
6.12
M7
Incl.
123.5
123.8
0.3
5.96
M7
TUDDM-002
11.5
19.4
7.9
0.93
ME1
TUDDM-002
23.0
23.3
0.3
2.93
ME1
TUDDM-002
24.8
26.6
1.8
1.31
ME1
TUDDM-002
28.7
29.0
0.3
1.11
ME1
TUDDM-002
30.8
36.2
5.4
3.29
SKLW6
Incl.
33.2
33.5
0.3
19.60
SKLW6
Incl.
33.5
34.1
0.6
6.03
SKLW6
TUDDM-002
40.1
41.0
0.9
1.45
SKLW7
TUDDM-002
47.6
48.2
0.6
1.55
SKLW8
TUDDM-002
51.2
51.5
0.3
14.26
SKLW9
TUDDM-002
55.1
55.7
0.6
0.84
SKLW9
TUDDM-002
59.0
59.6
0.6
3.71
SKLW9
Incl.
59.3
59.6
0.3
5.15
SKLW9
TUDDM-002
61.1
61.7
0.6
0.89
SKLW9
TUDDM-002
64.7
72.6
7.9
2.39
URW1
Incl.
65.6
66.2
0.6
6.76
URW1
Incl.
67.7
68.0
0.3
5.81
URW1
Incl.
69.8
70.1
0.3
5.14
URW1
TUDDM-002
75.3
75.6
0.3
1.66
M8
TUDDM-002
78.9
81.5
2.6
4.83
M8
Incl.
79.7
80.3
0.6
6.75
M8
Incl.
80.3
80.9
0.6
6.71
M8
TUDDM-002
84.2
86.3
2.1
4.24
M8
Incl.
84.2
84.5
0.3
11.91
M8
Incl.
84.5
84.8
0.3
7.41
M8
Incl.
84.8
85.1
0.3
5.17
M8
TUDDM-002
97.8
98.4
0.6
0.81
M9
TUDDM-002
101.1
101.7
0.6
1.71
M9
TUDDM-003
8.6
10.4
1.8
2.52
Undefined
Incl.
9.5
9.8
0.3
6.76
Undefined
TUDDM-003
12.2
13.1
0.9
0.73
Undefined
TUDDM-003
14.3
16.1
1.8
0.64
Undefined
TUDDM-003
17.6
17.9
0.3
0.82
Undefined
TUDDM-003
19.4
20.0
0.6
0.69
Undefined
TUDDM-003
23.6
23.9
0.3
1.43
Undefined
TUDDM-003
26.3
35.9
9.6
2.47
ME1
Incl.
31.7
32.0
0.3
6.79
ME1
Incl.
34.1
34.4
0.3
45.68
ME1
TUDDM-003
37.1
42.3
5.2
0.61
SKLW6
TUDDM-003
45.6
47.1
1.5
0.89
SKLW8
TUDDM-003
49.1
49.7
0.6
2.34
SKLW8
TUDDM-003
50.9
55.1
4.2
2.84
SKLW9
Incl.
51.5
51.8
0.3
5.16
SKLW9
Incl.
54.2
54.5
0.3
7.39
SKLW9
TUDDM-003
65.9
67.4
1.5
0.65
SKLW9
TUDDM-003
71.0
73.4
2.4
9.74
URW1
Incl.
71.6
72.2
0.6
5.00
URW1
Incl.
72.2
72.8
0.6
14.41
URW1
Incl.
72.8
73.4
0.6
16.77
URW1
TUDDM-003
78.8
82.0
3.2
65.13
URW1
Which Incl.
78.8
80.9
2.1
98.88
URW1
Incl.
78.8
79.1
0.3
58.18
URW1
Incl.
79.1
79.4
0.3
624.81
URW1
Incl.
79.4
79.7
0.3
6.20
URW1
TUDDM-003
91.9
93.1
1.2
1.00
URW1
TUDDM-003
95.2
98.9
3.7
4.89
M4
Incl.
95.2
95.8
0.6
12.44
M4
Incl.
97.6
97.9
0.3
18.60
M4
TUDDM-003
101.0
106.4
5.4
4.17
M5
Incl.
101.0
102.2
1.2
9.01
M5
Incl.
103.1
103.7
0.6
10.33
M5
Incl.
103.7
104.3
0.6
5.52
M5
TUDDM-003
118.9
122.2
3.3
23.29
M7
Which Incl.
118.9
120.4
1.5
50.67
M7
Incl.
118.9
119.8
0.9
19.49
M7
Incl.
119.8
120.4
0.6
97.45
M7
TUDDM-003
132.1
133.3
1.2
1.13
M7
TUDDM-004
8.6
8.9
0.3
1.22
M7
TUDDM-004
10.1
10.7
0.6
0.71
M7
TUDDM-004
12.5
16.7
4.2
0.42
M7
TUDDM-004
17.9
18.2
0.3
2.19
M7
TUDDM-004
19.4
22.1
2.7
1.85
M7
Incl.
19.7
20.0
0.3
6.95
M7
TUDDM-004
23.3
23.9
0.6
0.99
M7
TUDDM-004
26
29.6
3.6
0.78
ME1
TUDDM-004
31.1
36.8
5.7
1.11
ME1
TUDDM-004
38.6
39.8
1.2
0.77
Undefined
TUDDM-004
43.4
44.0
0.6
0.56
SKLW6
TUDDM-004
55.7
56.0
0.3
260.44
SKLW8
TUDDM-004
56.6
57.5
0.9
213.52
SKLW8
TUDDM-004
64.7
68.6
3.9
0.85
Undefined
TUDDM-004
78.2
79.1
0.9
40.08
SKLW10
TUDDM-004
83.0
83.9
0.9
1.40
Undefined
TUDDM-004
85.7
86.9
1.2
21.10
SKLW11
Incl.
86
86.9
0.9
26.72
SKLW11
TUDDM-004
89.6
92.3
2.7
3.13
Undefined SKL
Incl.
91.7
92.0
0.3
10.05
Undefined SKL
Incl.
92.0
92.3
0.3
11.03
Undefined SKL
TUDDM-004
95.9
101.2
5.3
4.13
Undefined SKL
Incl.
96.4
97.0
0.6
9.28
Undefined SKL
Incl.
97.0
97.6
0.6
6.87
Undefined SKL
Incl.
100.6
101.2
0.6
7.30
Undefined SKL
TUDDM-004
112.9
114.4
1.5
14.14
Undefined SKL
Incl.
112.9
113.2
0.3
22.61
Undefined SKL
Incl.
113.2
113.5
0.3
11.88
Undefined SKL
Incl.
113.5
114.4
0.9
12.07
Undefined SKL
TUDDM-004
116.2
117.4
1.2
0.95
Undefined SKL
TUDDM-004
121.6
122.5
0.9
4.02
Undefined SKL
TUDDM-004
124.9
125.5
0.6
6.02
URW1
Incl.
125.2
125.5
0.3
11.51
URW1
TUDDM-004
128.5
129.1
0.6
1.09
URW1
TUDDM-004
130.6
133.6
3.0
10.03
URW1
Incl.
130.6
130.9
0.3
59.82
URW1
Incl.
130.9
131.2
0.3
11.39
URW1
Incl.
131.2
131.5
0.3
13.64
URW1
TUDDM-004
136.3
136.9
0.6
2.80
URW1
TUDDM-004
153.0
153.6
0.6
9.79
URW1
TUDDM-005
74.3
79.7
5.4
1.69
M1
Incl.
77.3
77.6
0.3
11.66
M1
TUDDM-005
80.9
83.0
2.1
5.89
M2
TUDDM-005
85.7
86.9
1.2
1.85
M3
TUDDM-005
105.5
106.4
0.9
8.84
M4
TUDDM-005
123.8
126.5
2.7
10.98
M8
Incl.
124.4
124.7
0.3
8.51
M8
Incl.
125.9
126.2
0.3
64.21
M8
Incl.
126.2
126.5
0.3
18.15
M8
TUDDM-005
127.7
133.1
5.4
9.30
M8
Incl.
128.9
129.5
0.6
31.56
M8
Incl.
129.5
130.7
1.2
14.99
M8
Incl.
132.2
133.1
0.9
6.08
M8
TUDDM-005
136.7
139.1
2.4
11.50
M9
Incl.
138.2
138.5
0.3
50.06
M9
Incl.
138.5
138.8
0.3
16.66
M9
Incl.
138.8
139.1
0.3
10.14
M9
TUDDM-005
140.3
141.8
1.5
22.80
M10
Incl.
140.6
140.9
0.3
9.55
M10
Incl.
140.9
141.2
0.3
10.54
M10
Incl.
141.2
141.5
0.3
58.59
M10
Incl.
141.5
141.8
0.3
32.03
M10
TUDDM-006
56.3
56.6
0.3
0.53
M10
TUDDM-006
93.2
95.6
2.4
4.20
M3
Incl.
94.4
95.6
1.2
6.30
M3
TUDDM-006
98.9
99.5
0.6
9.06
M4
Incl.
99.2
99.5
0.3
15.96
M4
TUDDM-006
113.9
114.8
0.9
3.39
M5
TUDDM-006
136.7
138.5
1.8
3.64
M8
Incl.
137.3
138.5
1.2
5.12
M8
TUDDM-006
141.8
145.7
3.9
9.87
M9
Incl.
141.8
143.0
1.2
10.01
M9
Incl.
143.3
143.9
0.6
13.74
M9
Incl.
144.5
145.7
1.2
13.49
M9
Table 2: Survey details of diamond drill holes referenced in this release
Hole No
Coordinates (Fiji map grid)
RL
final depth
dip
azimuth
E
N
m
(TN)
TUDDM-001
1876337
3920739
227.2
151.4
-90
–
TUDDM-002
1876348
3920796
209.5
112.4
-76
219
TUDDM-003
1876350
3920793
206.7
159.4
-59
197
TUDDM-004
1876352
3920798
209.7
154.2
-59
180
TUDDM-005
1876335
3920737
227.3
173.6
-69
304
TUDDM-006
1876335
3920738
227.2
180.1
-59
302
Qualified Person In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
QAQC Procedures Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).
About Lion One Metals Limited Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff“ Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Vancouver, British Columbia–(Newsfile Corp. – October 4, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce that it will receive a US$3 million milestone payment from Arizona Sonoran Copper Company, Inc. (TSX: ASCU) (“ASCU”) for the Parks-Salyer royalty property (the “Royalty Property”) in Arizona. The Royalty Property was held under a lease arrangement by EMX’s wholly owned subsidiary Bronco Creek Exploration Inc., and was transferred to ASCU via Assignment and Royalty Agreements (the “Agreements”) executed earlier this year (see EMX news release dated February 10, 2022). EMX’s Royalty Property covers 158 acres of ASCU’s Parks-Salyer copper project. The milestone payment results from ASCU’s maiden resource estimate for the Parks-Salyer project that exceeds thresholds for contained copper included within EMX’s Royalty Property footprint. The Company also retains a 1.5% net smelter return (“NSR”) royalty covering the Royalty Property.
EMX’s Parks-Salyer Royalty Property provides an example of a significant pre-production payment to the Company resulting from its copper porphyry royalty generation program in Arizona. The Property’s porphyry targets, which are concealed beneath post-mineral cover, were identified by EMX based upon structural geological assessments of historical exploration data. The open ground covering these targets was acquired by EMX at minimal cost. The 158 acres transferred to ASCU complemented the property position at its Parks-Salyer project, while providing EMX with pre-production payments and exploration, development, and royalty upside optionality at no additional cost to the Company.
Commercial Terms and Property Summary (all dollar amounts in USD). The Agreements provided for a one-time cash payment to EMX for the assignment of EMX’s rights covering the Property, as well as the 1.5% NSR royalty interest (ASCU may buy back 1% of the royalty for $500,000), work commitments, annual advance royalty (“AAR”) payments, and the $3 million milestone payment to EMX based upon declared resources totaling 200 million pounds or more of contained copper covered by EMX’s Royalty Property. ASCU’s (global) maiden resources for its Parks-Salyer project were disclosed in a news release dated September 28, 2022.
Parks-Salyer is located approximately five kilometers northwest of Casa Grande, Arizona and approximately 1.5 kilometers southwest of the historical Sacaton open pit copper mine. Sacaton was a porphyry copper-molybedenum mine operated by Asarco (1974-1984), and is now being advanced by ASCU as the PEA stage Cactus Project. The Parks-Salyer deposit lies beneath post-mineral gravels and represents a tilted, and fault-displaced portion of the Casa Grande-Santa Cruz porphyry system.
Qualified Person. Michael P. Sheehan, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Arizona%253BCompany%253BCasa_Grande%252C_Arizona%253BCopper_Project%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522d7d1d544-54c0-352e-9892-db00e84c428c%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
About Arizona Sonoran Copper Company. ASCU’s objective is to become a mid-tier copper producer with low operating costs, develop the Cactus and Parks-Salyer Project that could generate robust returns for investors, and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company’s principal asset is a 100% interest in the Cactus Project (former ASARCO, Sacaton mine) and Parks-Salyer deposit which is situated on private land in an infrastructure-rich area of Arizona.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@emxroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@emxroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2022 and the year ended December 31, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
