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VANCOUVER, BC / ACCESSWIRE / December 8, 2021 / Noram Lithium Corp. (“Noram” or the “Company”) (TSX – Venture: NRM / Frankfurt:N7R / OTCQB:NRVTF) today announced the summary results of a National Instrument 43-101 compliant Preliminary Economic Assessment (“PEA”) for the high-grade lithium deposit at its wholly-owned Zeus Lithium Project (“Zeus” or the “Project”) located less than 1 mile from Albermarle’s Silver Peak Mine, which is currently the only lithium production facility in the United States. The PEA was prepared by ABH Engineering (“ABH”,) an independent engineering services firm with extensive experience in mining and mineral processing. All dollar values are in US dollars.
PEA Highlights
- Robust Economics.
- $1.299 Billion Net Present Value (“NPV”). Base case after-tax Net Present Value (“NPV”) of $1.299 billion (8% discount rate).
- 31% Internal Rate of Return (“IRR”). Base case after-tax IRR of 31%.
- Capital Costs(“CAPEX”). Estimated initial CAPEX of $528M with after-tax payback period of 3.23 years.
- Gross Revenue of $303.4 Million/year
- Low Operating Cost. Operating Cost (“OPEX”) of $3,355.30/tonne Lithium Carbonate Equivalent (“LCE”) with a break-even price of $4016.6/tonne LCE LOM.
- Long Mine Life (“LOM). The mine production rate during full operation is set at 17,000 tpd. The production schedule uses ore from the first 11 phases, which results in 40-year mine life (“LOM”). The mine production schedule results in 245.4 million tonnes averaging 1,093 ppm Li.
- Very Low Strip Ratio. Mining strip ratios are very low, averaging 0.07:1 for LOM. Mining consists of a truck and shovel method, with blasting being unnecessary due to the ore softness.
- Low Environmental Impact. The leaching and filtration flowsheet includes dry stack tailings, thus, eliminating the environmental risk and long-term management issues associated with tailings ponds.
- LCE market Price. Base case market price of $9500/tonne LCE is well below long term forecasted rate of $14,000/tonne[1].
- Price Sensitivity. As noted in the sensitivity chart below, the after-tax NPV reaches $2.665 billion at $14,250/Tonne LCE (8% discount rate).
“We are thrilled with the results of this PEA,” stated Sandy MacDougall, Noram’s Chief Executive Officer and Director. “This study represents the most significant milestone to date for Noram and establishes us among limited peers as the newest low cost, high-grade, near-term lithium producer in North America. I am very pleased with what our team has achieved quickly, on schedule, and at the opportune time considering current and forecasted demand for Lithium Carbonate. This initial economic assessment is the most significant step to date towards our goal of lithium production and provides the market with a benchmark to evaluate our project’s viability and value compared with other lithium developers. We are excited as we enter 2022 pushing aggressively towards the completion of a Pre-Feasibility Study.”
| Net Present Value (“NPV”) | US$1.299 Billion |
| Internal Rate of Return (“IRR”) | 31% |
| Life of Mine (“LOM”) | 40 years |
| Operating Cost (“OPEX”) | US$3355.30/tonne |
| Capital Cost Estimate | US$528 Million |
| Average Annual Production Lithium Carbonate Equivalent (“LCE”) | 31,900 tonnes |
| Average Daily Mine Production Rate LOM | 17,000 tpd |
| LOM Production | 245.4 MT @ 1093 ppm Li |
| LCE Market Price used in PEA Study* | US$9500/tonne |
| Strip Ratio | 0.07 : 1.00 |
| Pay Back Period | 3.23 years |
| Gross Revenue per Year | US$303.4 Million |
PEA Summary
Infrastructure
The project is located next to the Cypress Development’s Clayton Valley Lithium Project and within 1 mile of Albermarle’s Silver Peak Lithium Mine. The Project is accessible via the Silver Peak Road, a two-lane road that connects the Silver Peak mine with Highway 95 to the east. General site infrastructure includes administration, laboratory, warehouse, reagent, comminution plant, and lithium recovery plant. Tailings are to be conveyed to the tailings storage areas for final spreading and contouring by dozers.
Metallurgical Testing
The objective of the metallurgical test program conducted on the Zeus Lithium deposit was to develop a viable process flowsheet to produce lithium carbonate. Information generated during the test program was used to define the process variables. Metallurgical testing began in 2018 at Actlabs Ltd (Actlabs) and AuTec Innovative Extractive Solutions Ltd (AuTec). This PEA report includes metallurgical test work conducted by SGS Canada Inc. in collaboration with ABH Engineering.
The following observations, conclusions and interpretations were obtained from the metallurgical test program:
- Zeus Lithium deposit ore is soft and disintegrates easily if agitated in water.
- Sulfuric acid solution effectively leaches lithium at high extraction.
- Test work achieved 90% lithium extraction at 65°C, 30% solids density and 2 hours residence time.
Mine Option Selection
An ultimate pit of processable material will be created, consuming most of the property area. The ultimate pit has been divided into phases of which the first 11 contain enough resources for 40 years of production at a 17,000 tpd production rate. Resources contained within the entire ultimate pit limits provide enough ore for over 190 years of production at 17,000 tpd. All resources regardless of the material classification are treated equally for the purpose of this study.
An optimized cut-off grade of 850 ppm was used to schedule the processed feed, compared to the economic cut-off grade of 400 ppm. Low-grade ore with grades between the economic cut-off of 400 ppm and optimized cut-off of 850 ppm are scheduled to be deposited in the low-grade ore stockpile. This is done to initially increase the average processed ore grade and improve the overall economics of the project by accelerating higher grade material to earlier years.
| Category | Units | Value |
| Gross Revenue | $M | 303.4 |
| Operating Cost | $/tonne LCE | 3,355.3 |
| Capital Cost | $M | 528.0 |
| Property tax | % of Capex | 1.05% |
| State Tax | % | Up to 5% |
| Federal Tax | % of net income | 21% |
| Discount Rate | % | 8% |
| Pre-Tax NPV (8%) | $M | 1,675.1 |
| After-Tax NPV (8%) | $M | 1,299.9 |
| Pre-Tax IRR | % | 36% |
| After-Tax IRR | % | 31% |
| Payback Period | years | 3.23 |
| Break-even Price (0% IRR) | $/tonne LCE | 4,016.6 |
Economic Analysis for Zeus Lithium Project
Sensitivity Analysis at 8% NPV with Varying Conditions
| Measured | ||||
| Li Cutoff (ppm) | Tonnes x 1,000,000 | Li Grade (ppm) | Contained Li (tonnes) | LCE (tonnes) |
| 400 | 66.74 | 927 | 61,863 | 329,299 |
| 600 | 61.34 | 964 | 59,128 | 314,738 |
| 800 | 46.47 | 1051 | 48,840 | 259,975 |
| 1000 | 27.70 | 1150 | 31,854 | 169,558 |
| Indicated | ||||
| Li Cutoff (ppm) | Tonnes x 1,000,000 | Li Grade (ppm) | Contained Li (tonnes) | LCE (tonnes) |
| 400 | 296.42 | 922 | 272,297 | 1,454,762 |
| 600 | 279.66 | 947 | 264,837 | 1,409,728 |
| 800 | 221.64 | 1007 | 223,193 | 1,188,059 |
| 1000 | 103.76 | 1128 | 117,044 | 623,023 |
| Measured + Indicated | ||||
| Li Cutoff (ppm) | Tonnes x 1,000,000 | Li Grade (ppm) | Contained Li (tonnes) | LCE (tonnes) |
| 400 | 363.15 | 923 | 335,191 | 1,784,222 |
| 600 | 341.00 | 950 | 323,945 | 1,724,361 |
| 800 | 268.11 | 1014 | 271,865 | 1,447,135 |
| 1000 | 131.46 | 1133 | 148,945 | 792,836 |
| Inferred | ||||
| Li Cutoff (ppm) | Tonnes x 1,000,000 | Li Grade (ppm) | Contained Li (tonnes) | LCE (tonnes) |
| 400 | 827.22 | 884 | 731,261 | 3,892,501 |
| 600 | 715.91 | 942 | 674,383 | 3,589,743 |
| 800 | 546.48 | 1013 | 553,588 | 2,946,750 |
| 1000 | 265.47 | 1134 | 301,043 | 1,602,452 |
Final Tonnages and Grades of the Classes of Mineral Resources
Qualified Person
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp (TSX – Venture: NRM / Frankfurt: N7R / OTCQB: NRVTF) is a Canadian based junior exploration company, with a goal of developing lithium deposits and becoming a low – cost supplier. The Company’s primary business is the Zeus Lithium Project (“Zeus”) in Clayton Valley, Nevada. The Zeus Project has a recently updated resource estimate of 363 million tonnes at 923 ppm lithium measured + indicated resources, and 827 million tonnes lithium at 884 ppm lithium inferred resources (400 ppm Li cut-off).
Noram’s long term strategy is to build a multi-national lithium minerals company to produce and sell lithium into the markets of North America, Europe, and Asia.
Please visit our web site for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Sandy MacDougall
CEO, Director
Investor Relations Contact:
Rich Matthews
Managing Partner
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws.
[1] Lithium Carbonate Price (2015-2040) (Lane, T.; Harvey, J. T.; Fayram, T.; Samari, H.; Brown, J. J.;, 2018)
SOURCE: Noram Lithium Corp.
View source version on accesswire.com:
https://www.accesswire.com/676501/Noram-Lithium-Corp-Zeus-PEA-shows-31-After-Tax-IRR-USD1299-Billion-After-Tax-NPV
Beaver Zone – Drill Plan View
Beaver Zone – Drill Plan View
VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. The focus of the Phase 2 Exploration Program was to discover and delineate new gold zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that it has been able to achieve expansion of the economic gold grades at the historic Beaver Zone. The Beaver Zone is situated roughly 400 meters northwest of the Arrow Zone, which was the focus of the Company’s exploration efforts in 2020. In November 2020, the Arrow Zone was delineated as a near surface, 120-meter high-grade ore shoot, open at depth. The Beaver Zone, currently defined as approximately 90 meters in near surface length, is showing potential to extend south-east into the high-grade Arrow Zone, as well as being open to the northwest, and at depth.
Beaver Zone Expansion
The Company is reporting multiple near-surface intercepts of economic gold grades at the Beaver Zone. Highlights of Phase 2 drilling include: new drill hole CL-21-10 which reported 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; new drill hole CL-21-15 which reported 5.8 meters of 2.13 g/t Au (from 50.0m to 55.8m); new drill hole CL-21-39 which reported 4.6 meters of 2.21 g/t Au (from 11.0m to 15.6m); and new drill hole CL-21-40 which reported 4.5 meters of 0.84 g/t Au (from 13.8m to 18.3m). The results, both confirm and expand upon, historical drilling at Beaver in the 1980s, and have returned higher grades than historical results. The historical drill holes and new holes can be referenced in the drill plan for the Beaver Zone below. A table of significant Beaver Zone drill results greater than 0.5 g/t Au listed by hole and interval can be found at the bottom of this release.
CL-21-10/11 Cross Sections
CL-21-13/14 Cross Sections
CL-21-15 Cross Section
CL-21-16 Cross Section
CL-21-39/40 Cross Sections
The Company’s working hypothesis is that there is a conceptual ore shoot at Beaver trending, and dipping to the northwest in a similar fashion and direction as the Arrow Zone, which lies 400 meters to the southeast of Beaver. The Company commenced an IP ground survey on November 28th, 2021, across the Beaver and Arrow Zones to assist in 3D modelling of the gold mineralization for the delineation of the Phase 3 drill targets for Q1-2022.
Map of Beaver Zone and Arrow Zone IP Survey Lines
Judson Culter, CEO at Rover Metals, states: “We are very pleased to have the workings of a new medium-to-high grade ore shoot at Beaver. The goal of the Phase 2 Program at Cabin was to open-up the 15 km of near surface iron formation at the project, and to delineate additional zones for a deeper Phase 3 drill program in Q1-2022. We believe that in addition to our success in the Beaver Zone we are poised for significant expansion of gold mineralization at the historic Andrew Zone as well. Based on the initial sampling results received from the Andrew Zone, we have sent more samples to the lab as we believe the mineralized intervals are longer than what initially sampled in the field at the start of the program. A map of the Bugow Iron Formation, showing the current understanding and interpretation of the delineated zones as well as new 2021 IP anomaly discoveries can be found below.”
Map of the Bugow Iron Formation
Tables of Significant Drill Results
| Hole ID | Easting83z11 | Northing83z11 | Elevation (m) | Total Depth | Dip | Azimuth |
| CL-21-10 | 559060 | 7005770 | 176 | 74 | -45 | 230 |
| CL-21-11 | 559061 | 7005770 | 176 | 146 | -65 | 230 |
| CL-21-12 | 559062 | 7005769 | 176 | 93.75 | -55 | 195 |
| CL-21-13 | 559020 | 7005800 | 175 | 62 | -45 | 230 |
| CL-21-14 | 559020 | 7005800 | 175 | 95 | -65 | 230 |
| CL-21-15 | 559020 | 7005800 | 175 | 83 | -45 | 190 |
| CL-21-16 | 559020 | 7005800 | 175 | 80 | -45 | 260 |
| CL-21-39 | 559067 | 7005755 | 177 | 53 | -45 | 230 |
| CL-21-40 | 559067 | 7005755 | 177 | 77 | -55 | 250 |
| Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| CL-21-10 | V749212 | 42.6 | 43.1 | 0.5 | 1.17 |
| CL-21-10 | V749213 | 43.1 | 43.6 | 0.5 | 1.62 |
| CL-21-10 | V749214 | 43.6 | 44.1 | 0.5 | 0.95 |
| CL-21-10 | V749215 | 44.1 | 44.6 | 0.5 | 2.88 |
| CL-21-10 | V749216 | 44.6 | 45.1 | 0.5 | 7.32 |
| CL-21-10 | V749218 | 45.1 | 45.6 | 0.5 | 6.51 |
| CL-21-10 | V749219 | 45.6 | 45.9 | 0.3 | 22.40 |
| CL-21-10 | V749217 | 45.9 | 46.4 | 0.5 | 5.40 |
| CL-21-10 | V749221 | 46.4 | 46.7 | 0.3 | 8.33 |
| CL-21-10 | V749222 | 46.7 | 47.2 | 0.5 | 1.43 |
| CL-21-10 | V749223 | 47.2 | 47.7 | 0.5 | 0.42 |
| CL-21-10 | V749224 | 47.7 | 48.2 | 0.5 | 1.45 |
| CL-21-10 | V749225 | 48.2 | 49.0 | 0.8 | 7.30 |
| Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| CL-21-13 | V749421 | 41.57 | 41.97 | 0.40 | 0.51 |
| CL-21-13 | V749422 | 41.97 | 42.38 | 0.41 | 0.20 |
| CL-21-13 | V749423 | 42.38 | 42.75 | 0.37 | 3.39 |
| CL-21-13 | V749424 | 42.75 | 43.09 | 0.34 | 0.31 |
| CL-21-13 | V749425 | 43.09 | 43.59 | 0.50 | 0.04 |
| CL-21-13 | V749426 | 43.59 | 44.00 | 0.41 | 1.78 |
| CL-21-13 | V749427 | 44.00 | 44.53 | 0.53 | 0.76 |
| Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| CL-21-14 | V749467 | 70.70 | 71.00 | 0.30 | 0.62 |
| CL-21-14 | V749468 | 71.00 | 71.43 | 0.43 | 0.51 |
| CL-21-14 | V749469 | 71.43 | 71.81 | 0.38 | 1.52 |
| CL-21-14 | V749470 | 71.81 | 72.16 | 0.35 | 0.41 |
| CL-21-14 | V749471 | 72.16 | 72.56 | 0.40 | 1.59 |
| CL-21-14 | V749472 | 72.56 | 72.9 | 0.34 | 5.48 |
| Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| CL-21-15 | V749507 | 50.00 | 50.50 | 0.50 | 0.70 |
| CL-21-15 | V749508 | 50.50 | 51.03 | 0.53 | 1.10 |
| CL-21-15 | V749509 | 51.03 | 51.48 | 0.45 | 0.41 |
| CL-21-15 | V749510 | 51.48 | 52.16 | 0.68 | 0.39 |
| CL-21-15 | V749511 | 52.16 | 52.87 | 0.71 | 5.05 |
| CL-21-15 | V749512 | 52.87 | 53.23 | 0.36 | 9.64 |
| CL-21-15 | V749513 | 53.23 | 53.63 | 0.40 | 4.29 |
| CL-21-15 | V749514 | 53.63 | 53.97 | 0.34 | 1.54 |
| CL-21-15 | V749515 | 53.97 | 54.29 | 0.32 | 0.45 |
| CL-21-15 | V749516 | 54.29 | 54.62 | 0.33 | 2.79 |
| CL-21-15 | V749517 | 54.62 | 55.36 | 0.74 | 0.21 |
| CL-21-15 | V749518 | 55.36 | 55.75 | 0.39 | 0.83 |
| Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| CL-21-39 | V748418 | 11.00 | 11.90 | 0.90 | 1.39 |
| CL-21-39 | V748419 | 11.90 | 12.20 | 0.30 | 0.96 |
| CL-21-39 | V748420 | 12.20 | 12.94 | 0.74 | 0.61 |
| CL-21-39 | V748421 | 12.94 | 13.36 | 0.42 | 1.13 |
| CL-21-39 | V748422 | 13.36 | 14.00 | 0.64 | 7.96 |
| CL-21-39 | V748423 | 14.00 | 14.52 | 0.52 | 2.72 |
| CL-21-39 | V748424 | 14.52 | 15.00 | 0.48 | 1.60 |
| CL-21-39 | V748425 | 15.00 | 15.62 | 0.62 | 0.74 |
| Hole ID | Sample ID | From (m) | To (m) | Interval (m) | Au (g/t) |
| CL-21-40 | V748392 | 43.53 | 43.83 | 0.30 | 4.09 |
| CL-21-40 | V748393 | 43.83 | 44.29 | 0.46 | 3.17 |
| CL-21-40 | V748394 | 44.29 | 44.57 | 0.28 | 1.71 |
| CL-21-40 | V748395 | 44.57 | 45.10 | 0.53 | 1.03 |
| CL-21-40 | V748396 | 45.10 | 45.47 | 0.37 | 1.43 |
| CL-21-40 | V748397 | 45.47 | 45.93 | 0.46 | 2.99 |
| CL-21-40 | V748398 | 45.93 | 46.60 | 0.67 | 0.25 |
| CL-21-40 | V748399 | 46.60 | 47.15 | 0.55 | 0.69 |
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.
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 the summer of 2021, and Phase 2 Exploration work continues at Cabin Gold through to the date of this release.
You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/
ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director
For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements be 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65eb889b-c20a-41f7-a720-8d6868e69274
Burlington, Ontario–(Newsfile Corp. – December 6, 2021) – Following the closing of its Qualifying Transaction and the listing of its common shares on the TSX Venture Exchange under the symbol SBMI, Silver Bullet Mines Corp. (TSXV: SBMI) (“SBMI” or “the Company”) is excited to provide its first operational update.
SBMI’s flagship asset is the Black Diamond Project located in the major mining camp of Globe, Arizona. Black Diamond is a massive project, covering 4900 acres and hosting five former producing silver mines. SBMI also owns the George Washington Mine, a former silver and gold producer in Idaho on patented lands.
SBMI’s goals are:
- Put the Buckeye Silver Mine in pilot production in Q1/22, followed by full-scale production;
- Finalize plans to have the McMorris Silver Mine back in production within 24 months;
- Carry out exploration programs elsewhere on Black Diamond to enable a decision on the order in which the remaining former producers will be put back in production;
- Investigate the waste rock on surface at the George Washington Mine in Idaho; and
- Defend the treasury.
“The team has made astonishing progress in mining-friendly Arizona,” said A. John Carter, SBMI’s CEO. “In a short period of time we have gone from an empty field to having a mill pad and an assay lab. Having our own lab means we can be nimble underground and not waste time waiting for third party labs to get around to processing our samples. Our goal of positive cash flow is closer every day.”
Some parts for SBMI’s mill have been installed onsite at the Buckeye Silver Mine after navigating through the port of Long Beach. Other parts are still in the supply chain and are beyond SBMI’s control for the time being. If those parts are significantly delayed, SBMI can choose to accelerate the program at the George Washington Mine in Idaho. Once finalized, the mill will have the capacity to process 125 tonnes of ore per day.
Concerning that program in Idaho, Mr. Carter continued, “We have taken grab samples from the waste rock at surface and expect assay results shortly. If, as we anticipate, the results justify further investigation, we would expect to process a bulk sample to test historical results and to determine ore characteristics including representative grades of silver and gold.”
The Company also plans to investigate Black Diamond’s potential to host a copper porphyry, as referenced in the Company’s January 8, 2021 Technical Report. The mill is not needed for this task. See page 7 at https://www.silverbulletmines.com/technical-documents for the technical reference to the possible copper porphyry, and see SBMI’s new website for site video, photos, maps, historical reports and leadership team biographies at www.silverbulletmines.com.
Because almost all of Black Diamond consists of BLM claims or patented lands owned by SBMI, SBMI does not have expensive annual payments or advanced royalty payments to make. Relative to the large size of the land package, the annual carrying costs are quite small.
SBMI has roughly 55,000,000 shares outstanding of which approximately 29,000,000 are in escrow. Almost all of the outstanding warrants and options have a strike price equal to or greater than the price in the recent over-subscribed financing. The Company has no debt outstanding other than normal trade payables.
SBMI expects to disseminate technical information in the near future, in compliance with NI43-101. It is possible the first technical disclosure will be on the assay results from the surface rock in Idaho.
To introduce itself to individual and institutional investors as well as advisors and analysts, SBMI will be carrying out a real-time, interactive presentation at the Emerging Growth Conference this Wednesday, December 8 at 11:00 am EST. This live, interactive online event will give existing shareholders and the investment community the opportunity to interact with Mr. Peter M. Clausi, SBMI’s VP, Capital Markets, in real time.
Mr. Clausi will provide a general overview of SBMI, its capital structure, its achievements in the field, and its plans for the future. The floor will then be open for questions.
Please register here to ensure attendance at the conference and to receive any updates that are released.
If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available on EmergingGrowth.com.
About the Emerging Growth Conference
The Emerging Growth Conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner.
The Conference focus and coverage includes companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long term growth. Its audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts. All sessions are conducted through video webcasts.
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; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the Property; 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106709
Table 1
Eliza – Significant Mineralized Rock Samples
Table 2
Eliza – Mineral Correlations to Silver
Figure 1
Eliza Property Rock Sample Location Map
VANCOUVER, British Columbia, Dec. 06, 2021 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR, OTCQB: HAMRF) (“Silver Hammer” or the “Company”) is pleased to report high-grade silver assays for a number of rock samples collected during its first sampling program at the Company’s Eliza Silver Project in Eastern Nevada.
A total of 73 rock-chip samples were collected in the vicinity of the historic Passynak Mine within the Eliza project area which lies on trend of the Hamilton mining district, Nevada’s highest grade silver mining camp. An estimated over 30 million ounces of silver was produced, valued at $22 million between 1865 and 1888, from the Treasure Hill Mining area which extends onto the Eliza property.1
In addition to the assayed samples, another 35 geochemical survey samples were collected from outcrops in the northern sector of the property, south of the Eberhardt Fault which separates the Eliza Project from the abandoned Hamilton mines to the north. The assay results confirm the existence of a well-developed silver-rich mineral system that also shows enrichments in copper (Cu), lead (Pb) and zinc (Zn). Other trace elements conventionally viewed as indicators of epithermal precious metal mineralization, such as antimony (Sb) and arsenic (As), are also present in geochemically anomalous amounts.
“We are very pleased with the results obtained by our first sampling program at Eliza. The high-grade mineralized samples provide evidence that the near-surface silver mineralization exploited by the former 30 Moz Treasure Hill Mine extends onto the Eliza property and may continue beneath a shale unit south of the Eberhardt Fault,” stated President and CEO Morgan Lekstrom. “We are also encouraged by the association of silver with base metals (Cu, Pb, Zn), as this type of mineralization may be an outer zone expression of a ‘blind’ porphyry copper system. We intend to use modern technology, including hyperspectral imaging to expand our knowledge of the geologic model and define its size potential. In addition, we intend to define drill targets for 2022.”
In addition to the targeted rock sampling that was done, the Company has undertaken hyperspectral imaging analysis of the Eliza property area. Interpretation of the imagery shows a correlation between secondary silver mineralization, mainly chloraryrite, and areas where hydrocarbon decay are outlined. This innovative exploration technology will be further employed on the property.
Plans are underway for additional geological and geochemical investigations, with the objective of defining high-potential drill targets early in 2022.
Table 1. Eliza – Significant Mineralized Rock Samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/bdcfc422-9e67-4d00-afcc-0a5863af54bd
Table 2. Eliza – Mineral Correlations to Silver
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ee72663-e5aa-4126-b651-f393351b3051
Figure 1. Eliza Property Rock Sample Location Map
https://www.globenewswire.com/NewsRoom/AttachmentNg/a05f7c20-6393-4cb1-b00d-3789c90937ae
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 multiple-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 further information contact: Kristina Pillon, President, 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.
___________________________________
1 USGD: https://mrdata.usgs.gov/mrds/show-mrds.php?dep_id=10310457
Nickel smelter in Sorowako, Indonesia. (Image by Marcelo Coelho, courtesy of Vale).
(The views and opinions expressed herein are the views and opinions of the author, Andy Home, a columnist for Reuters.)
Nickel and zinc are now deemed critical minerals by the United States.
SIGN UP FOR THE BATTERY METALS DIGEST
The US Geological Survey (USGS) is proposing both metals be included in the redrafted critical minerals list. The list has grown from 35 to 50 since the last iteration in 2018, but that largely reflects the splitting out of rare earth elements and precious group metals into separate entities.
Four minerals – helium, potash, rhenium, and strontium – have been dropped. The United States is the world’s leading producer and net exporter of helium, while import dependency for the other three is mitigated by “low disruption potential”. Uranium was also dropped after being reclassified as a “mineral fuel”.
Nickel and zinc are the only two new additions, and each reflects an evolution of the methodology used to determine whether a mineral is critical to the well-being of the US economy.
Single point of failure
According to the USGS, the United States relies on refined nickel imports for around half of its annual consumption.
The top three suppliers last year were Canada (42%), Norway (10%) and Finland (9%) – all deemed “friendly” countries.
This relatively benign supply profile kept nickel off the critical minerals list in the past.
But it’s now included for two reasons.
Firstly, the USGS has expanded its criticality criteria to look beyond trade dependency to domestic supply, particularly what it calls “single points of failure”.
There is currently only one domestic operating nickel mine in the United States – the Eagle mine in Michigan – which exports concentrates for overseas refining.
There is a single producer of nickel sulphate, but only as a by-product of precious group metals production.
This limited domestic nickel production base was also highlighted in the Biden Administration’s 100-day review of critical supply chains, which recommended the government should invest as a priority in a new nickel refinery.
The second reason is nickel’s changing usage profile from alloy in stainless steel production to chemical component in electric vehicle batteries.
The combination of limited, single-point-of-failure domestic supply and the expected demand growth from battery manufacturers makes “a compelling case for inclusion” of nickel in the critical minerals list, the USGS noted.
Or, as the supply-chain review put it, not having enough battery-grade nickel “poses a supply chain risk for battery manufacturing globally, not just in the United States”.
Zinc concentration
The United States’ domestic supply chain of zinc is less fragile.
The country has 14 operating mines and three smelter facilities, one primary and two secondary, one of which resumed operations in 2020 after several years of inactivity.
However, the country’s refined zinc import dependency is relatively high. Imports of 710,000 tonnes last year represented 83% of domestic consumption, according to the USGS.
Global supply trends make this problematic.
“For zinc, global mine and smelter production concentration has increased notably during the past few decades,” the USGS said, adding that “this change has been driven mainly by increased production in China”.
Part of the thinking behind the latest critical minerals list is moving the analysis beyond simple import dependency to encompass broader global supply trends.
The more supply is concentrated in one country, the higher the potential risk factor, particularly if that country is designated a mineral competitor, as is the case with China.
Zinc’s supply risk is now above the 0.40 threshold used by the USGS to help determine criticality at 0.48.
Top of the supply-risk table are gallium, niobium and cobalt, followed by several rare earth elements.
Aluminum lies in eighth place with a score of 0.60, thanks to the concentration of smelting in China, and tin is also on the supply risk spectrum with a score of 0.50.
A continuum of supply risk
The USGS stresses that falling below the 0.40 cut-off point doesn’t mean there is no supply risk.
“The metrics developed with (the new) methodology are best viewed as a continuum of supply risk”, and one which is continuously moving as global supply chains for each commodity evolve, it said.
Out of the major industrial metals traded on the London Metal Exchange, only two are now not deemed critical minerals by the United States.
Copper has a low supply-risk profile due to a large domestic mining, smelting and recycling industry.
Lead is more interestingly poised on the USGS supply-risk table with a score of 0.39, just below the cut-off point, again due to a growing concentration of global mining and smelting capacity in China.
None of these industrial metals feature on the European Union’s critical minerals list.
In part that’s a reflection of Europe’s domestic production base both at the mining and smelting level.
But in part it may be because the USGS is ahead of its European peers in analysing global supply patterns and the resulting potential threats to critical minerals availability.
Nickel and zinc may not spring to mind when most people think of critical minerals, but as far as the United States is concerned, they both are.
(Editing by Jan Harvey)
Toronto, Ontario, Dec. 01, 2021 (GLOBE NEWSWIRE) —
Silver Bullet Mines Corp. (TSXV: SBMI) (“Silver Bullet” or the “Company”), formerly Pinehurst Capital I Inc., is pleased to announce that the Company has closed its qualifying transaction (the “Transaction”) previously announced in the Company’s comprehensive press releases dated November 12, 2020 and June 28, 2021 and more particularly set out in its filing statement dated September 27, 2021 (the “Filing Statement”) which is available under the Company’s profile at www.sedar.com, subject to final approval of the TSX Venture Exchange (the “TSXV”). The Company’s shares, which had traded on the TSXV, were halted on August 27, 2020, at the Company’s request pending completion of the Transaction and receipt of final approval of the TSXV. The Company’s common shares will commence trading on the TSXV as a Tier 2 mining issuer under the symbol “SBMI” on or about December 6, 2021.
The Transaction
Pursuant to an amalgamation agreement, Pinehurst I Acquisition Corp., a wholly owned subsidiary of the Company, and an entity formerly named Silver Bullet Mines Inc. amalgamated under the Canada Business Corporations Act (the “Amalgamation”) to form Silver Bullet Mining Inc. As a result of the Amalgamation, (i) all common shares of Pinehurst Capital I Inc. were consolidated on the basis of one (1) post-consolidation common share for every 2.1428 pre-consolidation common shares (the “Consolidation”); and (ii) in exchange for each (1) security held in the capital of Silver Bullet Mining Inc., each securityholder received one (1) security in the capital of the Company. Concurrently with the closing of the Transaction, the Company changed its name to Silver Bullet Mines Corp.
Outstanding Share Capital and Escrow
Following the closing of the Transaction, the Company has a total of 55,458,038 common shares issued and outstanding. An aggregate 24,071,668 common shares and 2,605,763 stock options held by the principals of the Company are subject to Tier 2 Surplus Security Escrow and will be released from escrow as follows: five percent (5%) of the escrowed shares will be released from escrow on the issuance of the final exchange bulletin confirming the completion of the Transaction by the TSXV (the “Final Exchange Bulletin”), five percent (5%) will be released 6 months thereafter, ten percent (10%) will be released 12 months and 18 months following the issue of the Final Exchange Bulletin, fifteen percent (15%) will be released 24 months and 30 months following the issue of the Final Exchange Bulletin, and the balance of forty percent (40%) will be released 36 months after the issue of the Final Exchange Bulletin. An additional 6,000,000 shares and 428,571 stock options held by non-principals of the Company are subject to Tier 2 Value Security Escrow and will be released from escrow as follows: ten percent (10%) of the escrowed shares will be released from escrow on the issuance of the Final Exchange Bulletin, fifteen percent (15%) will be released on each of the 6 months, 12 months, 18 months, 24 months, 30 months and 36 months thereafter.
New Board and Management
On closing of the Transaction, David Rosenkrantz, Daniel Tobon, Ilana Prussky, John A. Leja, Maurice Kagan and Shael Soberano resigned as the directors and officers of the Company.
On closing, the following individuals were appointed as directors and officers of the Company:
John Carter – CEO and Director
Ron Wortel – President and Director
Ron Murphy – Vice President Mining and Director
Eric Balog – Director
J. Birks Bovaird – Director
Peter Clausi – Vice President Capital Markets and Director
Jon Wiesblatt – Director
Brian Crawford – Chief Financial Officer and Corporate Secretary
The incoming board of directors would like to thank Messrs. Rosenkrantz, Tobon, Leja, Kagan and Soberano and Ms. Prussky for their contributions and service to the Company.
For further information, please contact:
John Carter
Silver Bullet Mines Corp.
e: info@silverbulletmines.com
p: 905-302-3843
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities referenced herein have not been, nor will be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.
VANCOUVER, BC / ACCESSWIRE / December 1, 2021 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the results of work completed by Sedgman Canada and Mining Plus on the Company’s Carmacks copper-gold-silver deposit in the Minto Copper Belt located in central Yukon, Canada. The Company has received a final report on studies that include review of alternate leach technologies, mine planning, ore sorting and other key elements which are expected to be highly influential on the updated preliminary economic assessment (“PEA”) planned for H1 2022.
Highlights include:
- Excellent results from initial metallurgical testing on sulfide material;
- Confirmation of in tank leaching as the preferred method of extraction of both copper and precious metals from oxide ores;
- Identification of conventional flotation as the preferred method of producing a copper concentrate from sulfide ores;
- Development of a draft underground mine plan, with sub-level block cave as the preferred underground mining method at Carmacks;
Granite Creek President & CEO, Tim Johnson, stated, “We are extraordinarily pleased with the results provided by Sedgman and Mining Plus and the degree of efficiency, expertise and professionalism they have demonstrated since Granite Creek initially engaged them in May of this year. The studies have provided a great deal of new insight and clarity on the best path forward as we continue to advance Carmacks toward updated economics and, ultimately, production. We are very confident that these elements of mine planning and optimization, combined with the updated 43-101 mineral resource estimate we anticipate in Q1, will form the basis of a robust new PEA. The Yukon is an exceptional mining jurisdiction, the Minto belt has excellent infrastructure and robust mineralization currently being mined by Minto Metals Corp. just to the north of us who are now publicly traded on the Venture Exchange. We look forward to additional announcements soon as the pieces continue to fall into place at Carmacks.”
Virtual Investor Conference – OTC Markets Group
Granite Creek will be presenting at the upcoming Mining & Metals Virtual Investor Conference hosted by OTC Markets Group on Wednesday, December 8th at 11:30 AM PT / 2:30 PM ET. Topics of discussion will include the Company’s 2021 drilling campaign, the mine planning and mineral processing results described herein, and implications for the expected updates to both the existing 43-101 mineral resource estimate and PEA. To register, click here.
Sedgman / Mining Plus Report Discussion
An initial review of geotechnical studies as referenced in the 2017 PEA1,2, has indicated that a sub-level block cave is likely the most cost-effective method of underground mining of Zone 1 at the Carmacks Deposit. Based on this, Granite Creek will now move to initiate costing studies to support an updated PEA that includes potential underground resources not only in Zone 1 but other adjacent zones. In addition, the Company will launch pit design and optimization efforts on mineralized zones that lie outside of the pit contemplated in the 2017 PEA. Specifically, Zones 2000S and 13 will see pit optimization scenarios that will determine how much material could potentially be mined via open pit and what portion of the resources will be extracted by underground mining methods.
Metallurgical testing of sulfide mineralization to determine recovery of copper minerals using conventional flotation technology to create a copper concentrate was highly successful, achieving copper recoveries of up to 95%. Further testing is planned to confirm these recovery rates and to add gold and silver to a concentrate scenario. This work will be used identify the correct sizing of a copper-gold-silver concentrator circuit and the associated economics.
Previous economic assessments did not consider the potential value from processing of the high-grade sulphide material at Carmacks, despite a defined sulfide resource. In conducting a comprehensive review of the Carmacks deposit and the Carmacks North target area, the presence of significant sulfide mineralization became immediately apparent and Granite Creek felt it prudent to examine its potential inclusion as a means to expand the overall resource, extend mine life and improve economics. The majority of the Company’s 2021 drilling campaign focused on delineating and expanding sulfide resources with both near surface and deeper targets explored. Both oxide and sulphide mineralized zones remain open to expansion, with a significant expansion of the sulphide resource anticipated in the upcoming resource estimate update in Q1 2022. The updated PEA will incorporate this expanded resource and will include review of the mining sequence including an assessment of whether any sulfide resources may be mined via open pit and the optimal sequence for sulfide flotation and oxide leaching.
Table 1. Current Mineral Resource Estimate on the Carmacks Copper Project1,2
| Category | Tonnes (000) | Cu (%) | Au (g/t) | Ag (g/t) | |
| Oxide & Transition Mineralization | Measured | 6,484 | 0.86 | 0.41 | 4.24 |
| Indicated | 9,206 | 0.97 | 0.36 | 3.80 | |
| M&I | 15,690 | 0.94 | 0.38 | 3.97 | |
| Inferred | 913 | 0.45 | 0.12 | 1.90 | |
| Sulphide Mineralization | Measured | 1,381 | 0.64 | 0.19 | 2.17 |
| Indicated | 6,687 | 0.69 | 0.17 | 2.34 | |
| M&I | 8,068 | 0.68 | 0.18 | 2.33 | |
| Inferred | 8,407 | 0.63 | 0.15 | 1.99 |
[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag.
[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., to the north, and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll-Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
Twitter: @yukoncopper
Qualified Person
Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.
Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Granite Creek Copper Ltd.
View source version on accesswire.com:
https://www.accesswire.com/675433/Granite-Creek-Copper-Announces-Results-of-Mine-Planning-Mineral-Processing-Work-Conducted-on-the-Carmacks-Copper-Gold-Project-by-Sedgman-and-Mining-Plus