TORONTO, Jan. 31, 2022 /CNW/ – John Carter, Chief Executive Officer and Director, Silver Bullet Mines Corp. (“Silver Bullet” or the “Company”) (TSXV: SBMI) and his team joined Robert Peterman, Vice President, Global Business Development, Toronto Stock Exchange, to celebrate the Company’s new listing and open the market.https://www.youtube-nocookie.com/embed/nyDtyWK3b9s
Silver Bullet Mines is an overnight sensation, ten years in the making. The company is on track to put the Buckeye Silver Mine back into pilot production this quarter. The Buckeye and four other past silver producers are on the Company’s massive Black Diamond property outside Globe, Arizona. Silver Bullet Mines also owns the past producing Washington Mine in Idaho, from which a blended bulk sample yielded an average of almost 2,000 grams of silver per ton.
For Market Openings: Media may pick up a feed from the TOC (television operations centre) for all market open ceremonies. The feed is named TSX Transmit 1 (SD-SDI) and is produced at the TMX Broadcast Centre and sent live to the TOC. To pick up the feed via the Dejero network, please contact avservices@tmx.com. The client feature video will begin playing on the TMX media wall at approximately 9:27 a.m. ET and the markets will open with the sound of a siren at 9:30 a.m. ET
Burlington, Ontario–(Newsfile Corp. – January 27, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces it has begun extracting mineralized material from its Buckeye Silver Mine in Arizona after taking delivery of its first shipment of blasting powder. SBMI’s intention is to produce an initial total of 10,000 tonnes of mineralized material at a rate of 125 tonnes per day.
SBMI also announces it has been invited by the TMX Group to ring the bell at market open on Monday, January 31st at 9:30 am Eastern Standard Time, a rare honour for a new junior mining company.
Blasting underground in January, 2022 at the Buckeye Silver Mine
SBMI’s initial target is the high-grade silver zone identified in 1976 by K.C. Delise, a Registered Geologist, in a report titled Surface/Underground Mapping and Sampling. Accompanying the report was a Mine Shaft Survey dated October 23, 1976 prepared by him for International Resources and Minerals Development Company. In his report he mapped and identified this zone as extending approximately 500 feet along strike.
The Company has found a summary of assay results from 1976 and 1977 from Clarkson Labs of San Diego, CA. SBMI believes these resulted from samples taken by Delise in his 1976 field work at the Buckeye. These assays returned spectacularly high values for gold, silver and copper. The highest value for gold was 4.8 opt, for silver was 8,970 opt, and for copper was 30.7%.
This information is historical in nature and pre-dates NI43-101. SBMI does not know the methods by which such work was carried out, or whether all or part of it was under the supervision of a Qualified Person, as that term is defined in NI43-101. SBMI refers to such data and observations to inform its knowledge of the area.
Nick Barr, one of SBMI’s consulting geologists, carried out his own analysis of Delise’s work in 2015, as part of which he produced notes, sections and longitudinals. He also plotted the 1976 Clarkson Labs assay results noted above onto Mr. Delise’s original Mining Shaft Survey. In addition to Delise’s and other historical records, SBMI is also relying upon these documents created by Mr. Barr as well as his current first-hand experience at the Buckeye.
“This is a significant accomplishment”, said SBMI’s VP Mining, Mr. Ron Murphy. “We have completed the rehabilitation of the underground and have commenced mining as we blast into what we believe to be Delise’s documented high-grade zone. The training, experience and talent of our seasoned mining crew has allowed us to achieve these goals in a short period of time.”
The mineralized material blasted and extracted from the Buckeye will be stockpiled at SBMI’s proximate millsite for eventual processing at SBMI’s gravity pilot plant, which is nearing completion. The Company also plans to run assays in its own assay facility on-site on multiple samples from the mineralized material to determine grades.
As previously disclosed, SBMI’s assay lab on-site in Arizona is managed by Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. Working with Mr. Budd in SBMI’s assay facility is Vic Power, a Registered Professional Assayer for the state of Arizona. Mr. Budd and Mr. Power will ensure all QA/QC practices will be adhered to, including sending samples from each run to an independent accredited lab for corroboration.
It is intended the state-of-the-art gravity pilot plant should be ready to commence the processing of mineralized material in approximately sixty days, depending on the timing of delivery of certain mill items. Such deliveries are beyond SBMI’s control. The progress of both the mine and mill can be followed at www.silverbulletmines.com or on Twitter @bulletmines.
“Having our own assay lab and mill should make us incredibly efficient,” said Mr. John Carter, SBMI’s CEO who also designed the gravity pilot plant. “We will be able to have assay results back in less than a day, which will empower us to select mineralization within our target ranges to process.”
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
Vancouver, British Columbia–(Newsfile Corp. – January 27, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“) reports that it has suspended the filing of its Notice of Arbitration to Zijin Mining Group Ltd (“Zijin”) and its wholly owned subsidiary, Nevsun Resources Ltd. (“Nevsun”) pursuant to the Net Smelter Returns Royalty Agreement dated March 16, 2010 by and between Reservoir Capital Corp. (of which Nevsun is a successor in interest), and Euromax Resources Ltd (EMX is the acquirer of Euromax Resources Ltd’s royalty interest) (the “Royalty Agreement”). EMX announced its intention to file a Notice of Arbitration in its news release of December 17, 2021, as a result of a dispute with Zijin regarding the royalty rate under the Royalty Agreement described in such news release.
EMX has suspended the filing as it has commenced discussions with Zijin with the goal of reaching a mutually acceptable resolution. As the outcome of such discussions are uncertain at this stage, EMX reserves its right to protect its royalty interests as it deems necessary which may include the future filing of a Notice of Arbitration which has been prepared. However, at this time, EMX continues to pursue an amicable and mutually acceptable resolution with Zijin.
Timok Project Overview. The Timok Project’s Cukaru Peki deposit consists of a higher level body of high-grade, epithermal-style copper-gold mineralization referred to as the Upper Zone project, and a deeper body of porphyry-style copper-gold mineralization known as the Lower Zone project. Prior to its acquisition by Zijin, a Pre-Feasibility Study (“PFS”) of the Upper Zone and resource estimate of the Lower Zone was completed by previous owner Nevsun, which was filed in August 2018 under Nevsun’s profile on SEDAR. EMX used the aforementioned PFS as the basis for its NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia dated July 30, 2021 and EMX is unaware of any new, publicly available material scientific or technical information that would make Nevsun’s previous disclosures regarding the PFS inaccurate or misleading.
Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@EMXroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@EMXroyalty.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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 include statements regarding the payment of the royalty under the Royalty Agreement, the royalty rate, the outcome of any discussions, dispute or arbitral proceedings between EMX and Zijin and any other steps or actions taken by EMX to protect its rights, including any future filing of the Notice of Arbitration,, perceived merits of properties, exploration results and budgets, mineral reserves 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”, “upside” 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. We are under no obligation to update any forward-looking statements except as required under applicable securities laws. 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 September 30, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, 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.
Oblique cross section showing mined out stopes and highlighted intercepts
Oblique cross section showing mined out stopes and highlighted intercepts
VANCOUVER, British Columbia, Jan. 26, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) (“Silver Hammer” or the “Company”) is pleased to report results from newly acquired and previously unreleased high-grade drill intercepts from a 2002 drill program at the Silver Strand project in Idaho.
Highlights:
DDH02-001: 1,005 g/t Silver Equivalent (“AgEq”) over 2.2 metres (“m”)
DDH02-003: 1,219 g/t AgEq over 3.3 m
DDH02-003: 1,876 g/t AgEq over 1.6 m
DDH02-004: 1,609 g/t AgEq over 1.5 m (including 2,071 AgEq over 1.0 m and 2439 AgEq over 0.6 m)
“We are pleased to report these high-grade, near-surface drill results from work done on the project by our predecessor in 2002. These newly acquired results, combined with our initial 2021 drill campaign, demonstrate consistent high-grade gold and silver values immediately beneath the existing mine workings,” stated President & CEO Morgan Lekstorm. “Based on an independent report1 we now know that the nearby Lucky Friday Mine, located 63.5 kilometres west of Silver Strand, known for its significant, ongoing silver production, was once Idaho’s largest gold producer, so it’s not surprising to us that we are seeing such strong gold mineralization in these near-surface drill holes. Furthermore, we’ve obtained both the drill core and assay certificates from the 2002 program allowing us to include this new data when preparing our first NI 43-101 mineral resource estimate at Silver Strand. The repatriation of this information has extremely high return on investment adding significant value for the company and our shareholders.”
*All reported assays are downhole core lengths, uncapped and calculated using a 110 g/t Ag cut-off grade. AgEq_g/t = Ag_g/t + Au_g/t*100; True thickness unknown, est 75-85%. One hundred percent recovery utilized. AgEq shown for reference purposes.
This additional information compliments the drilling program Silver Hammer completed in 2021 and allows the Company to add more detailed information to the geological model to be used for drill targeting in 2022.
The 2002 drill program was conducted by New Jersey Mining who provided Silver Hammer with both the physical drill core and original assay certificates making the data eligible to be included in an NI 43-101 compliant resource estimate. Silver Hammer considers this information to be material in nature as this has only recently been repatriated.
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.
Quality Assurance, Quality Control
The following measures were taken to ensure sample security: samples were submitted to ALS Chemex (ALS) by company personnel of New Jersey Mining Company (NJMC); only authorized personnel attended the samples; core was logged at the NJMC core processing facility and then shipped to the ALS lab in Sparks, Nevada.
Analysis Suite
All drill core samples were analyzed by ALS using conventional assay methods involving fire assaying of 50-gram charges of pulverized sample material for gold and silver, with AA (Au-AA24) and/or gravimetric finishing (Au-GRA22). In addition, some pulverized charges were collected and were entirely dissolved using 4-acid digestion (Ag-AA62), with the final solution being analyzed for ore grade Ag using AA method.
Audits or reviews
Internal review of sampling techniques, data, and drilling results by the Company’s geologist’s and management was routinely done through the course of the project.
Blanks and Duplicates
For quality assurance/quality control purposes, the batches of core samples sent to ALS for assaying and AA analyses were regularly infused with ‘duplicate’, and ‘blank’ samples. The ‘duplicates’ were created during sample preparation at ALS. The laboratory also provided analytical results for their own reference samples for further QA/QC check.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company has commenced an initial drill program at Silver Strand that will test for silver and gold mineralization immediately below the mine’s lowest level extending only 90 metres below surface. Silver Hammer strives to become a multi-mine silver producer and will focus near-term exploration and drilling plans at the Company’s Idaho and Nevada silver-gold assets.
(Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.)
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, 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–(Newsfile Corp. – January 26, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution, by its wholly-owned subsidiary Bronco Creek Exploration Inc., of an exploration and option agreement (the “Agreement”) for the sale of the Robber Gulch gold project (“Project”) in Idaho to Ridgeline Exploration Corporation, a wholly-owned subsidiary of Ridgeline Minerals Corp. (TSX-V: RDG) (“Ridgeline”). The Agreement provides EMX with cash payments, share payments, and work commitments during Ridgeline’s earn-in period, and upon earn-in a retained 3.25% net smelter return (“NSR”) royalty interest, annual advance royalty payments, and certain milestone payments.
Robber Gulch is a Carlin-style gold property acquired by EMX in 2019 and then optioned to a third party in 2020 that completed work programs consisting of geological mapping, soil and rock chip geochemical sampling, trenching, and a reconnaissance drill program. This previous work confirmed several key gold zones that were delineated by coincident geochemical anomalies and prospective geology. The drill testing was limited in scope and in EMX’s judgement did not adequately test the target zones. The Project reverted back to 100% EMX control in Q3, 2021.
The Robber Gulch Agreement with Ridgeline represents EMX’s execution of the seventh option agreement for Idaho gold projects since 2020. Ridgeline is also advancing the Company’s Swift and Selena royalty properties in Nevada. Robber Gulch is a key example of the royalty generation aspect of EMX’s business model, whereby prospective ground was identified, acquired inexpensively via staking open ground, and then partnered for exploration advancement at no additional cost to EMX.
Commercial Terms Overview. Pursuant to the Agreement, Ridgeline can earn 100% interest in the Project by (all dollar amounts in USD): (a) making execution and option payments totaling $750,000 over a five year option period, (b) delivering 150,000 shares of Ridgeline Minerals Corp. to EMX by the second anniversary of the Agreement, and (c) completing $650,000 in exploration expenditures before the fifth anniversary of the Agreement.
Upon Ridgeline’s option exercise and earn-in, EMX will retain a 3.25% NSR royalty interest on the Project. Ridgeline may buy back up to a total of one percent (1%) of the royalty by first completing an initial half-percent (0.5%) royalty buyback for a payment of $1,500,000 to the Company prior to the third anniversary of the option exercise. If the first buyback is completed, then the remaining half-percent (0.5%) of the royalty buyback can be purchased anytime thereafter for a payment of $2,000,000 to the Company. Ridgeline will also make annual advance royalty (“AAR”) payments of $50,000 that increase to $75,000 upon completion of a Preliminary Economic Assessment (“PEA”) or internal study termed an Order of Magnitude Study (“OMS”), the details of which are defined in the terms of the Agreement. The AAR payments cease upon commencement of commercial production. In addition, Ridgeline will make Project milestone payments consisting of: (a) $250,000 upon completion of a PEA, (b) $500,000 upon completion of the earlier of a Prefeasibility or Feasibility Study, and (c) $1,000,000 upon a positive Development Decision.
Robber Gulch Overview. The Robber Gulch Project is located 30 kilometers south of Burley, Idaho and consists of 117 unpatented lode mining claims covering approximately 9.3 square kilometers. Carlin-style mineralization is hosted in Pennsylvanian to Permian age silty limestones and calcareous siliciclastics that are exposed within erosional windows beneath post-mineralization volcanic rocks. The Robber Gulch geological environment is similar to that at the Black Pine project ~90 kilometers to the southeast.
Previous work on the Project defined two main corridors of gold mineralization along the crest of a gently sloping ridge where prospective Paleozoic host rocks outcrop. Much of the remainder of the property is covered by shallow soil. A 2020 geochemical sampling program (conducted by previous partner Gold Lion Resources) identified robust 1,000 by 550 meter and 850 by 600 meter gold-in-soil anomalies1. Numerous lower level gold-in-soil anomalies are scattered across the property within an overlying sequence of less prospective host rocks.
Trenching across portions of the soil anomalies further defined priority oxide gold targets, including a trench interval of 189 meters averaging 0.43 g/t gold, with a higher grade sub-interval of 0.88 g/t gold over 45 meters. Historical drilling intercepted 57.9 meters (from 21.3 to 79.2 m) averaging 0.34 g/t gold, including 12.2 meters averaging 0.90 g/t gold (hole bottomed in 0.32 g/t gold)2. The last hole of Gold Lion’s 2021 program terminated prematurely in bedrock at 6.1 meters depth, and averaged 1.46 g/t gold across the drilled interval. True widths from the trenching and drilling are unknown.
EMX regards Robber Gulch as a highly prospective gold property within an emerging Carlin-style gold region in southern Idaho. The Company looks forward to the Ridgeline team advancing the Project with the knowledge gained from successfully exploring Carlin-style gold systems in Nevada.
Comments on Sampling, Assaying and Adjacent Properties. EMX has not performed sufficient work to verify the Project’s historical drill results, but considers this information as reliable and relevant based upon the Company’s independent field work and reviews of data from multiple sources.
The geochemical and trench results in this news release from previous partner Gold Lion Resources were sampled and assayed according to industry standard procedures, and reported according to NI 43-101 requirements. EMX believes that these results are reliable and relevant. All trench samples were logged and sampled by Gold Lion personnel. Certified reference material standards, blanks and pulp duplicates were inserted at a ratio of approximately two in every 10 trench samples. Rock samples were collected as continuous 2 to 3-metre-long chip samples along the entire length of the trenches. An effort was made to collect an even volume of bedrock along each interval in order to minimize bias in the chip sampling.
All rock samples were sealed in poly bags and were transported to MS Analytical’s laboratory in Langley, B.C., by Gold Lion personnel for preparation and analysis. Sample preparation was completed by crushing the entire sample to 70% passing -2mm, riffle splitting off 1 kilogram and pulverizing the split to better than 85% passing 75 microns. Using a 30 gram sub-sample, the gold values are determined by the fire assay method, with atomic absorption finish (code FAS-111), which reports results in parts per million (ppm) (equivalent to grams per tonne (g/t)). Using a 0.5 grab sub-sample, the remaining analytes were determined by multi-element ICP-AES with an aqua regia digest (code ICP-130). Representative samples from RG-TR-20-03 were re-analyzed by Cyanide Leach (code AU-CN00) with a AAS finish. A range of samples from low (0.149g/t) to high grade gold (1.502g/t Au; determined by FAS-111) were selected to represent a range of mineralized samples from the trenching program for reanalysis by Cyanide Leach. All analytical results are verified with the application of industry standard Quality Control and Quality Assurance (QA-QC) procedures.
The Black Pine project referenced in this news release provides context for EMX’s Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Company’s Project hosts similar tonnages or grades of mineralization.
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.
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, as well as on the Frankfurt Exchange under the symbol “6E9.” Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@emxroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@emxroyalty.com
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 September 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
Figure 1. Location map of the Robber Gulch Project, Idaho.
Note: Soil, rock chip and trench results are from Gold Lion Resources. Annotated drill hole intercepts are historical. True widths for trench and drill results are unknown.
1See Gold Lion Resources news releases dated June 16, and August 11, 2020. 2 Exvenco Resources Inc., 1986, Internal Report on Artesian City Project, Cassia County, Idaho.
Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“). Further to its news releases dated July 29, 2021, August 17, 2021 and October 21, 2021, the Company is pleased to announce it has entered into an amendment to extend the term of the US $44,000,000 credit facility (the “SprottCredit Facility“) entered with Sprott Private Resource Lending II (Collector), LP (“Sprott“) to December 31, 2024 in consideration for the payment of an amount equal to 1.5% of the outstanding principal amount of the Sprott Credit Facility, which shall be added to the principal amount of the Sprott Credit Facility; and to amend the voluntary prepayment rights under the Sprott Credit Facility to permit the prepayment of up to US $10,000,000 of the principal amount of the Sprott Facility at any time on or after June 30, 2023, and permit to the prepayment of the remaining principal amount of the Sprott Loan at any time on or after June 30, 2024. In addition, the Company has entered into an amendment to the postponement agreement between the Company, Sprott and SSR Mining Inc.(“SSR“) to permit the prepayment of the VTB Note (US $7,850,000 principal amount owed to SSR) prior to the repayment of the Sprott Credit Facility, provided that no event of default has occurred or is continuing under the Sprott Credit Facility.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@EMXroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@EMXroyalty.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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 completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves 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”, “upside” 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 September 30, 2021, and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, 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.
YERINGTON, Nev., Jan. 25, 2022 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or “Company”) is pleased to announce the results from its Special Meeting of shareholders (the “Meeting”) that was held today. The Warrant Exercise Resolution (as defined below), the only item of business at the Meeting, was overwhelmingly approved by disinterested shareholders of the Company. Strong shareholder support for the Warrant Exercise Resolution was evidenced by approximately 99% of the disinterested shareholders who voted at the Meeting voting in favour of the Warrant Exercise Resolution.
Voting Details
At the Meeting, the disinterested shareholders of the Company, being all shareholders of the Company excluding Pala Investments Limited (“Pala”), the Company’s largest shareholder, and Pala’s associates and affiliates, approved an ordinary resolution authorizing (i) the exercise of 15,000,000 common share purchase warrants (the “Credit Facility Warrants”) that were issued to Pala on November 30, 2021 in connection with the amendment and restatement of the credit facility provided by Pala to the Company; and (ii) if some or all of the Credit Facility Warrants are exercised, the resulting issuance by the Company of common shares to Pala pursuant to the terms of the Credit Facility Warrants (the “Warrant Exercise Resolution”). The results of voting on the Warrant Exercise Resolution are provided below:
Votes For
% Votes For
Votes Against
% Votes Against
117,875,484
98.93%
1,275,978
1.07%
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
VANCOUVER, British Columbia, Jan. 25, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. In Q4-2021, Rover tested a ground induced polarized survey (“IP Survey”) over proven high-grade gold zones on the property. The test results indicated a positive correlation between IP Survey chargeability and the sulfide content in the Bugow Iron Formation. High-grade gold at Cabin is associated with elevated-sulfide concentration. The Company followed up the successful test survey, with an extensive ground IP Survey that covered the Beaver Zone, Andrew Zone, and the Camp Target. The Company is pleased to announce that one of the highlights of the IP Survey is a large anomaly that appears to extend the Beaver Zone 200 meters to the southeast (of the final drill hole of the 2021 drill program, CL-21-40), trending towards the high-grade Arrow Zone. On December 7, 2021 the Company released the results of its drilling at the Beaver Zone. Highlights from drilling at the Beaver Zone included 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au. Highlights of 2020 drilling at the Arrow Zone included 32 meters of 13.6 g/t Au.
IP Survey Comprehensive Results The Company is also pleased to be reporting on the discovery of three prominent IP anomalies: (1) the aforementioned Beaver Zone; (2) the Andrew South IP Target, and (3) the Camp IP Target. The dipole-dipole IP Survey comprised 25m station spacing along lines spaced 25 meters apart, with a 40m depth slice of chargeability.
Beaver Zone IP Anomaly The IP anomaly extending 200 meters to the southeast of drill hole CL-21-40 has never been drilled historically and provides exciting blue sky discovery potential to the project.
Andrew South IP Anomaly The Andrew South IP anomaly is located approximately 350 meters northeast of the Beaver Zone, close to the southern tip of the Andrew Zone. The IP anomaly appears to indicate the discovery of a new mineralized limb of the Bugow Iron Formation, and a new chargeable zone along that limb, trending from southeast to northwest parallel to both the Beaver Zone and the Andrew Zone. The Andrew South IP Anomaly has never been drilled historically and is another example of blue sky discovery potential at the project.
Camp IP Anomaly The historic Camp area exists along the primary limb of the Bugow Iron Formation, to the northwest of the Beaver Zone. This new IP anomaly has never been drilled historically, and again provides exciting blue sky discovery potential to the project.
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
Judson Culter, CEO at Rover Metals, states “we’re thrilled to have made the discovery of three new large IP anomalies at the Cabin Gold project. We’re hoping to test these new targets as part of our Phase 3 Exploration Program planned for Q1 of this year. None of these targets have been drilled historically. The possible extension of the Beaver Zone 200 meters to the southeast, presents us with an opportunity for another high-grade gold discovery.”
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in Q3-2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
You can follow Rover on its social media channels:
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.
North Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce additional results from the infill drill program undertaken in the near-surface portion of the Tuvatu deposit. This program was designed to further strengthen the database in the portion of the deposit earmarked for earliest production, from the Company’s 100% owned Tuvatu alkaline gold project in Fiji.
– ~6735m of drilling completed in 38 holes since the start of infill program (~85% of the proposed program completed)
Highlights from near-surface infill drilling include:
TUDDH555
126.62 g/t Au over 0.70m from 133.00-133.70m, including
294.50 g/t Au over 0.30m from 133.40-133.70;
8.25 g/t Au over 2.90m from 137.60-140.50m, including
28.67 g/t Au over 0.60m from 139.10-139.70m, 15.72 g/t Au over 0.30m from 139.40-139.70m,
9.31 g/t Au over 1.70m from 145.00-146.70m, including
31.63 g/t Au over 0.40m from 145.90-146.30m
TUDDH557
17.60 g/t Au over 5.0m from 113.80-118.80m, including
125.50 g/t Au over 0.60m from 115.3-115.9m
35.63 g/t Au over 0.30m from 150.40-150.70m
TUDDH559
14.21 g/t Au over 1.20m from 119.8-121.0m;
6.23 g/t Au over 3.7m from 142.50-146.20, including
22.44 g/t Au over 0.60m from 143.1-143.7m, and 14.48 g/t Au over 0.30m from 145.6-145.9m
TUDDH562
111.40 g/t Au over 0.40 from 164.7-165.1m (Figure 3B, 3C in previous press release)
TUDDH563
20.41 g/t Au over 0.30 from 13.66-13.96m (Figure 3A in previous press release)
63.26 g/t Au over 0.30 from 52.49-52.79m
68.50 g/t Au over 0.30 from 164.55-164.85m
TUDDH565
35.64 g/t Au over 0.40m from 63.8-64.2m
359.76 g/t Au over 1.80m from 70.8-72.6m, including
1616.0 g/t Au over 0.40m from 71.1-71.5m (Figures 3-4, this release)
13.34 g/t Au over 1.70m from 92.9-94.6m, including
42.09 g/t Au over 0.40m from 93.3-93.7m
4.28 g/t Au over 5.10m from 117.3-122.4m
10.03 g/t Au over 0.60m from 141.9-142.5m, including
17.75 g/t Au over 0.30m from 142.2-142.5m
18.61 g/t Au over 0.70m from 154.8-155.5m
TUG136
16.19 g/t Au over 0.60m from 75.7-76.3m, including
30.97 g/t Au over 0.30m from 76.0-76.3m
4.71 g/t Au over 4.20m from 77.9-82.1m, including
10.76 g/t Au over 0.30m from 77.9-78.2, and 12.62 g/t Au over 0.6 from 78.5-79.1m
TUG137
16.44 g/t Au over 4.20m from 106.4-110.6m, including
26.11 g/t Au over 0.60m from 107.6-108.2m, and
22.80 g/t Au over 2.10m from 108.5-110.6m, which includes
45.35 g/t Au over 0.30m from 109.4-109.7m, and 37.40 g/t Au over 0.30m from 110.0-110.3m
Infill Drilling Program Multiple bonanza-grade intercepts have been returned from the ongoing near-surface infill/definition drill program which is aimed at a thorough re-appraisal of the database in portions of the resource earmarked for earliest production. The current ~8000m infill drill program was initiated in June of 2021 with the aim of infilling areas of low data density within parts of the resource currently categorized as Inferred. To date, a total of ~6735m of diamond drilling over 38 holes have been completed, with ~15% of the proposed program remaining. Final results are here reported from a total of 10 holes, 7 of which were drilled specifically as part of the infill program (TUDDH555-562, 565) and three of which were drilled as part of the deep program testing the 500 Zone, but which intersected high grade mineralization in the near-surface (TUDDH563, TUG136, 137). Figures 1-3 illustrate schematically the location of drill holes reported here, and mineralized intervals relative to modelled lodes.
The exceptional grades returned from hole TUDDH565 at a downhole depth of ~71.2m, of 1616.0 g/t Au corresponds to a complex vein of centimetric width at low to moderate angle to core axis, consisting of coarse, subhedral honey sphalerite, fine skeletal marcasite and coarse visible gold in a groundmass of amorphous gray quartz. The vein also contained coarse vugs lined by clear crustiform euhedral quartz crystals and abundant delicate wire native gold. Figures 4 and 5 show some of the coarse visible gold intersected at this interval as well as other mineralogical characteristics. A complete set of results for all near-surface drill intersections reported here is included as Table 1; drill hole parameters are included as Table 2. Results from deeper drill intersections will be reported in a subsequent news release.
The Company is currently undertaking two tiers of drilling: 1) the completion of shallow resource infill drilling from surface and underground, 2) deep exploration drilling from surface and underground targeting lode extensions and additional feeders under the Tuvatu resource. Regional drill programs requiring access to remote parts of the Navilawa caldera has been interrupted during the wet season, but will resume in early 2022.
Sergio Cattalani, Lion One’s Senior Vice President Exploration, commented, “Exceptionally high grade mineralization has been defined in the near-surface portion of the deposit. High grade mineralization is showing to be more consistent and appears to form wider zones with good continuity than what had been previously modelled. I am increasingly confident that once underground mining is underway, the average head grade of the ore earmarked for early production will be higher than previously modelled. The additional data generated by the infill drilling and resampling programs currently underway are indicating that portions of the orebody return higher grades over multiples of minimum mining widths that are not defined by the current resource model.
Our objective remains clear: to work toward a near-term modest production start, concomitant with an aggressive exploration program aimed at the continued expansion of bonanza-grade resources both near-surface and along defined feeder conduits at greater depths, for the eventual scaled-up development of a larger and more valuable resource.“
Figure 1:Left) schematic cross-section across the northern part of Tuvatu showing the location of some infill drill holes, with selected results. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes. Note that many of the mineralized intervals do not correspond with the previously modelled lodes, suggesting the possibility of previously unrecognized mineralization.
Figures 2, 3:Left) schematic cross-sections across the northern part of Tuvatu showing the location and selected results from some of the drill holes reported here. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.
Figures 2, 3:Left) schematic cross-sections across the northern part of Tuvatu showing the location and selected results from some of the drill holes reported here. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.
Table 1: Drilling Intervals Reported (intervals greater than 3.0 g/t Au cutoff and wider than 2.0m are bolded)
Drill Hole
From (m)
To (m)
Interval (m)
Au (g/t)
TUDDH-225 (resampled)
52.7
53.7
1.0
9.62
including
52.7
53.4
0.7
14.1
TUDDH-408 (resampled)
83.7
85.7
2
6.12
including
83.7
84.3
0.6
14.2
TUDDH-555
24
24.9
0.9
0.67
118
118.9
0.9
1.41
133
133.7
0.7
126.62
including
133.4
133.7
0.3
294.5
137.6
140.5
2.9
8.25
including
137.6
138
0.4
12.93
and
139.1
139.7
0.6
28.67
which includes
139.1
139.4
0.3
41.61
and
139.4
139.7
0.3
15.72
141.8
143.1
1.3
8.56
including
141.8
142.2
0.4
12.34
and
142.5
143.1
0.6
8.81
145
146.7
1.7
9.31
including
145.9
146.3
0.4
31.63
150.8
151.3
0.5
0.63
TUDDH-556
124
125.2
1.2
3.23
127.3
127.9
0.6
0.9
147
147.4
0.4
0.59
173.4
174
0.6
1.54
176.7
177
0.3
2.46
TUDDH-557
102.7
104.2
1.5
1.02
105.7
112.6
6.9
3.89
including
108
108.6
0.6
26.56
113.8
118.8
5.0
17.6
including
115.3
115.9
0.6
125.5
including
118.2
118.8
0.6
9.69
133.6
134.9
1.3
0.57
144.4
144.8
0.4
2.6
150.4
150.7
0.3
35.63
TUDDH-559
22.6
22.9
0.3
4.39
101
101.9
0.9
1.09
115.7
116.6
0.9
1.18
119.8
121.0
1.2
14.21
131.3
131.6
0.3
5.78
135.9
138.3
1.2
4.09
including
137.7
138.3
0.6
7.42
142.5
146.2
3.7
6.23
including
143.1
143.7
0.6
22.44
and
144.7
145.00
0.3
9.34
and
145.6
145.9
0.3
14.48
155.4
155.7
0.3
2.99
181.1
181.7
0.6
5.38
TUDDH-560
24.4
24.8
0.4
0.62
144.3
144.7
0.4
1.44
TUDDH-562
42.1
42.5
0.4
5.58
129.9
130.3
0.4
3.88
132
132.3
0.3
2.89
158.4
158.8
0.4
3.7
164.7
165.1
0.4
111.4
166.7
167.1
0.4
1.17
218.3
218.6
0.3
1.37
TUDDH-563
13.66
13.96
0.3
20.41
14.86
15.1
0.24
0.83
18.8
19.1
0.3
0.57
21.8
22.4
0.6
5.13
25.2
26.4
1.2
1.58
52.49
52.79
0.3
63.26
58.1
58.5
0.4
6.48
125.25
125.55
0.3
0.58
164.55
164.85
0.3
68.5
300.15
300.65
0.6
1.04
TUDDH-565
45.5
46.1
0.6
0.86
52.8
54.3
1.5
0.52
56.4
57.6
1.2
2.84
59.1
61.5
2.4
1.73
63.8
64.2
0.4
35.64
66.6
67.8
1.2
0.59
70.8
72.6
1.8
359.76
including
71.1
71.5
0.4
1616.0
73.8
74.3
0.5
1.36
75.8
79.4
3.6
2.73
88.7
90.3
1.6
8.52
92.9
94.6
1.7
13.34
including
93.3
93.7
0.4
42.09
99.5
100.1
0.6
1.79
117.3
122.4
5.1
4.28
including
119.4
120.0
0.6
7.22
139.5
140.7
1.2
0.68
141.9
142.5
0.6
10.03
including
142.2
142.5
0.3
17.75
152.4
153.6
1.2
1.37
154.8
155.5
0.7
18.61
TUG-136
3.4
4.0
0.6
0.5
65.5
65.8
0.3
0.59
69.4
69.7
0.3
6.34
75.7
76.3
0.6
16.19
including
76
76.3
0.3
30.97
77.9
82.1
4.2
4.71
including
77.9
78.2
0.3
10.76
and
78.5
79.1
0.6
12.62
and
80.6
80.9
0.3
6.57
and
81.2
81.5
0.3
7.63
102
102.3
0.3
1.89
103.6
103.9
0.3
0.53
TUG-137
5.0
5.7
0.70
0.5
29.3
30.0
0.70
2.32
106.4
110.6
4.20
16.44
including
107.6
108.2
0.60
26.11
which includes
107.6
107.9
0.30
40.65
and including
108.5
110.6
2.10
22.8
which includes
109.4
109.7
0.30
45.35
and also includes
110
110.3
0.30
37.4
161.4
161.7
0.30
1.43
169.3
169.6
0.30
1.97
Table 2: Survey details of diamond drill holes referenced in this release not previously reported
Hole No
Coordinates (Fiji map grid)
RL
final depth
dip
azimuth
N
E
m
(TN)
TUDDH555
3920724.8
1876385.7
237.0
239.50
-74
274
TUDDH556
3920725.3
1876384.4
237.0
182.30
-48
285
TUDDH557
3920725.2
1876385.0
237.1
241.00
-64
284
TUDDH559
3920724.8
1876385.7
237.0
188.70
-75
270
TUDDH560
3920723.1
1876385.2
237.0
220.90
-60
240
TUDDH562
3920723.3
1876385.5
237.0
244.20
-70
248
TUDDH563
3920796.3
1876351.1
209.7
875.00
-63
121
TUDDH565
3920779.0
1876396.0
219.8
200.50
-59
253
TUG136
3920759.6
1876459.2
139.1
617.40
-58
151
TUG137
3920759.0
1876459.0
139.1
686.70
-68
163
TUDDH225
3920737.3
1876336.3
222.8
300.25
-60
330
TUDDH408
3920767.2
1876336.5
225
140.6
-65
320
Figure 4:A) Photo of a portion of uncut drill core from TUDDH565, with a vuggy quartz vein of centimetric width at 71.20m depth. This 0.40m sample returned 1616 g/t Au. B) Close-up of a portion of the vein showing subhedral sphalerite, dendritic marcasite and coarse visible gold. C) Closer view of dendritic marcasite clusters suggesting rapid growth and conditions of supersaturation, in a groundmass of amorphous gray silica.
Drilling and Assay Processes and Procedures The Company is utilizing its own diamond drill rig, using PQ, HQ and ultimately NQ sized drill core rods. Drill core is logged by Company geologists and then is sawn in half and sampled by Lion One staff.
Samples are analyzed at the Company’s own geochemical laboratory in Fiji, whilst pulp duplicates of all samples with results >0.5g/t Au are re-assayed, as well as sent to ALS Global Laboratories in Australia for check assay determinations. All samples for all high-grade intercepts reported here are will be sent to ALS Global Laboratories for check assays shortly. 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 10g/t Au are then re-analyzed by gravimetric method. For certain high-grade samples for which results for duplicate assay are within 10% of the initial results, 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 sent to ALS Townsville, Queensland, Australia are analyzed by the same methods (Au-AA26, and also Au-GRA22 where applicable). ALS also analyze for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES. (method ME-ICP61).
Qualified Person The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sergio Cattalani, P. Geo, who is a qualified person pursuant to National Instrument 43-101 – Standards of disclosure for Mineral Projects (“NI-43-101).
About Tuvatu The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu as disclosed in the technical report “Tuvatu Gold Project PEA”, dated June 1, 2015, and prepared by Mining Associates Pty Ltd of Brisbane Qld, and subsequently updated in January 2018 as disclosed in the technical report and PEA by Tetra Tech “Technical Report and Preliminary Economic Assessment Update for the Tuvatu Gold Project, The Republic of Fiji” dated September 2020, comprises 1,007,000 tonnes Indicated at 8.48 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.
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 volcanic edifice of alkaline affinity. 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.
