Silver Hammer Mining Corp. Stakes Additional Claims at Eliza Project in Nevada and Reports Initial Sampling Results from the Past-Producing Silverton Mine
Lakewood Exploration Inc.Thu, October 7, 2021, 7:30 AM·3 min readIn this article:
Figure 1
Eliza silver complex, Hamilton, Nevada, included previously reported surface samples. (See September 9, 2021 News Release for comprehensive sampling data).
Eliza silver complex, Hamilton, Nevada, included previously reported surface samples. (See September 9, 2021 News Release for comprehensive sampling data).
Figure 2
Silverton claim layout with northeast sampling showing 6.1 g/t gold from a surface sample
Silverton claim layout with northeast sampling showing 6.1 g/t gold from a surface sample
VANCOUVER, British Columbia, Oct. 07, 2021 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR / OTC: HAMRF) (“Silver Hammer” or the “Company”) is pleased to report that it has staked an additional 52 new claims at its Eliza Silver Project in the historic Hamilton District of Nevada, more than doubling its land package.
The Eliza Silver Project is located along the south side of the Eberhardt fault, opposite the past-producing Treasure Hill Mine in the Hamilton Mining District, Nevada’s highest-grade silver district producing 40 million (M) ounces (oz) silver with historic mined ore grades of up to 18,700 grams per tonne (g/t) between 1860-1872. Surface samples as high as 25,000 g/t were collected in the 1960s.1
With the addition of these new claims, the Eliza land package now comprises 88 claims totaling 5.52 square kilometres, (see Figure 1).
“Our initial exploration work has identified mineralization that extends onto these newly acquired claims along the lower half of the Eliza project,” stated President Morgan Lekstrom. “We are currently conducting a mapping and geochemistry program on the property where we see significant potential for discovery in areas that have never been explored using modern exploration techniques. We will use this data to plan an extensive initial exploration program targeted for early 2022.”
Additionally, initial results from a sampling program at the Company’s Silverton Mine, a project sharing similar geology and Aster signature to Kinross Gold’s Round Mountain project located approximately 108 kilometres to the west, have confirmed surface gold mineralization on the east side of the property. A sample of 6.1 g/t gold was taken from the silicified tuff (see Figure 2).
The Company also announces that David Grandy has stepped down as a director of the Company in order to pursue other opportunities. The Company thanks Mr. Grandy for his services, including helping take the company public, and wishes him the best in his future endeavours.
Qualified Person
Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
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. Lakewood strives to become a multimine 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
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada Contact: Kristina Pillon, President, High Tide Consulting Corp. 604.908.1695 / investors@silverhammermining.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. – October 6, 2021) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to report the mineral tenure consolidation and expansion of La Union Polymetallic Project in Sonora, Mexico. The acquisition of these additional concessions provides Riverside with an expanded land position and further control of the historical mines and old workings across the district. This consolidation through the acquisition of small internal concessions provides Riverside an option on the high-grade, previous small scale mine properties, internal to the larger surrounding 100% Riverside owned mineral concessions and increases the property total area to over 26 km2 (2,604 hectares). This transaction expands upon the original property acquired from Millrock’s Mexico portfolio in 2019 (see press release of June 26, 2019).
La Union is located in western Sonora and is part of the orogenic gold trend. The old mining areas at La Union have seen very little drill testing and the broader structures are wide open for further regional exploration. Riverside is in contact with the local surface owners and knows the region from previous work with partner Hochschild Mining which allows Riverside to initiate exploration immediately.
Riverside’s initial field work included selective rock sampling from abandoned mine workings and dumps with results returning up to 59.4 g/t Au and 833 g/t Ag (see Table 1). Further exploration work will begin shortly as the Company is pleased to have completed this expansion step, opening the door to follow up work.https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.html
La Union Polymetallic Project has been previously defined as a manto-chimney style deposit. The ongoing work has been demonstrating significantly high-grades in gold, silver, lead and zinc across mineralized areas identified. Near surface, the oxide gossan cap and carbonate replacement are particularly extensive with strong similarities with the Leadville polymetallic system in Colorado, USA. At La Union the Paleozoic carbonate stratigraphic section is a composite of over 1,000 m thick regionally and the mineralization of chimneys and mantos is open in multiple directions.
Table 1: Sample Results from La Union Polymetallic Project
Sample ID
Au (g/t)
Ag (g/t)
Pb (%)
Zn (%)
Cu (%)
Type
Description
RRI7891
59.4
833
5.76
4.16
0.3
rock chip
massive sulfide – dolomitic breccia
RRI7895
40
3.3
0.13
mine dump
massive sulfide and jasperoid
RRI7894
8.3
239
0.17
mine dump
jasperoid
RRI7890
1.367
50
1.63
1.43
mine dump
sulfide-oxide bearing breccia
RRI7893
0.473
12.4
rock chip
brecciated contact – dolomite/quartzite
RRI7889
0.072
76.4
rock chip
brecciated contact – dolomite/limestone
Note: Six of the higher-grade due diligence samples out of eight total are shown in Table 1.
Figure 1: Photo of sample RRI7891 from La Famosa Mine and RRI7895 from Plomito Mine
Figure 2: Map of Riverside’s La Union Polymetallic Project, Sonora, Mexico. Highlights of the most recent results from rock sampling from Riverside (see Table 1)
Riverside’s President and CEO, John-Mark Staude: “We are excited to complete the acquisition of multiple key pieces of the project area at La Union, including the historic mines of Famosa and Plomito. Riverside is moving forward with growing projects, and generating exploration results at our properties, which continue to demonstrate the value of applying the Riverside property database and local team knowledge to capture and progress excellent mineral projects. The next steps for the La Union district will consist of field work and geophysics, which are expected to refine drilling targets.”
Transaction Details for the Acquisition: Riverside has optioned over a 4-year term the properties with staged cash payments without any retained NSR. The terms for each respective property (La Famosa and Plomito) are presented below:
YEAR
PAYMENTS
LA FAMOSA
PLOMITO
0
On Signing
$
–
$
–
1
12 months
$
10,000.00
$
10,000.00
2
24 months
$
15,000.00
$
15,000.00
3
36 months
$
25,000.00
$
25,000.00
4
48 months
$
50,000.00
$
40,000.00
5
60 months
$
75,000.00
$
75,000.00
TOTAL
$
175,000.00
$
165,000.00
Geology and previous work at La Union Polymetallic Project: Mineralization is primarily located within the Paleozoic sedimentary sequence, known in this area for reaching up to 1,000 m in thickness and hosting multiple historical workings. The mountain range is characterized with alternating limestone, dolomite and quartzite, at which contact mineralization has been observed to grow into a manto-chimney style deposit. These types of deposits tend to have higher metal grades, making this style of deposition attractive for exploration.
Local historical productions in the 1950’s mined high-grades averaging 7-20 g/t Au, 300 g/t Ag, 10-20% Pb and 5% Zn, for which mineralized bodies were traced for at least 80 m depth within oxides (Yantis, 1957). Since then, only small exploration programs followed and including Paget Mineral Exploration Company and Millrock with sampling programs yielding up to 22.5 g/t Au and multiple high-grade polymetallic samples over the project area. The presence of many high-grade areas, the thickness of the host rock and extent of the system across multiple known historic mines are favorable evidence for an extensive system.
Figure 3: Map representing historical samples including rock chip, and mine dump as stated above and part of the Millrock and Paget database acquired from 2012 to 2019
Figure 4: Photo (left) of the mineralization as seen at La Union, showing quartzite bed bounded by oxide horizons. La Famosa (right) shows the old working from 1980s
Geophysics and sampling will be additional tools deployed by Riverside in advancing the knowledge of this project, with a view to initiating a drill program that will allow the Project to extend high-grade at depth and define the limit of the oxide cap.
Qualified Person & QA/QC: The scientific and technical data contained in this news release pertaining to La Union Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Rock samples from the exploration program discussed above at La Union were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.: Riverside is a well-funded exploration company driven by value generation and discovery. The Company has no debt and approximately 71M shares outstanding with a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98673https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.htmlhttps://jac.yahoosandbox.com/0.7.0/safeframe.html
Vancouver, British Columbia, October 1, 2021 (NYSE American: EMX; TSX Venture: EMX; Frankfurt: 6E9) – EMX Royalty Corporation (the “Company”, or “EMX”) is pleased to announce that it intends to carry out a private placement of up to 5,000,000 units at C$ 3.30 each for gross proceeds of up to C$ 16,500,000. Members of the Sprott Group have agreed to act as finders in connection with the sale of some of the units.
The units will consist of one common share of the Company and one-half of one transferable warrant. Each whole warrant will entitle the purchase for two years of one common share at C$ 4.00 in the first year and C$ 4.50 in the second year.
Eligible finders will be paid a 6.0% cash commission and issued that number of non-transferable compensation warrants equal to 6.0% of the number of units sold to investors introduced by them. Each compensation warrant will entitle the purchase for one year of one common share of the Company for C$ 3.50.
The placement is subject to stock exchange approval.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any U.S. state securities laws and may not be offered or sold within the “United States” or to “U.S. Persons” (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable U.S. state securities laws, or an exemption from such registration is available.
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) 979-6666 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. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 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.
Recently, CEO Greg Beischer presented at the Denver Gold Group Explorer and Developer Forumin Colorado Springs and we were lucky enough to get our hands on his presentation to share with all of you.
In the presentation, Greg provides an update on the current state of our company and covers numerous projects including Treasure Creek, Ester Dome, and 64North projects in Alaska.
To make it easy to digest, I’ve pulled out the key highlights below.
Key Highlights: 0:39 – Greg provides context on how the Apex Gold project came about and how Millrock attracted the interest of a mid-tier mining company to partner with. 0:31 – An explanation of the Project Generator model and shows how reduces investor risk. 2:16 – An overview of Millrock’s partners which include both major mining companies and smaller miners. 5:10 – Greg explains why Millrock has chosen Alaska as our home base to explore. 5:52 – Overview of our current active projects in Alaska including an overview of the Tintina Gold Province. 7:28 – Greg provides a history of the Fairbanks Gold District and explains Millrock’s current projects in the district including Treasure Creek, Ester Dome, and 64North. 13:50 – Greg provides a high-level overview of all the upcoming catalysts Milrock has including work in Sonora state, Mexico. 15:10 – Greg answers questions from the audience.
It’s a great presentation, so please take a listen below.
Take care and enjoy the day.
Best regards,
Melanee Henderson, Manager of Investor Relations Millrock Resources Inc. | MRO.V | MLRKF.OTCQB Toll-Free: 877-217-8978 | Local: 604-638-3164
Please find the below link to David Cole’s presentation at the 2021 Gold Forum Americas in Colorado Springs, Colorado, USA. This presentation provides investors with a number of fresh insights into recent material developments in the Company.
joining us for a conversation is Judson Culter the CEO of Rover Metals (TSX.V: ROVR | OTCQB: ROMVF). It’s a pleasure to be speaking with you today as Rover Metals has some important updates for shareholders regarding two active exploration programs in the Northwest Territories. Before we begin, Mr. Culter please introduce us to Rover Metals and the opportunity the company presents to the market.
Judson Culter:
Rover Metals is a publicly-traded gold company. We are focused on Northern Canada making a large-scale discovery of high-grade gold. We operate at the 60th parallel in northern Canada.
Maurice Jackson:
Mr. Culter, take us to the northwest territories where Rover Metals has just completed the drilling component of phase two on the flagship cabin gold project along the Bugow Iron Formation. Sir, please remind us of the value proposition before it’s on the Cabin Gold Project.
Judson Culter:
The value proposition real-time at the time of this interview is an opportunity to buy in the open market and we are weeks away from bringing the drilling results from this summer to the Market. We spent $1.5 Mil CAD for over 30 drill holes across the Bugow Iron Formation. We believe based on what we’ve seen in the field and the core that our geologists logged in the field from the drill core, that we’re likely to have another discovery zone.
Maurice Jackson:
I reference that the drilling component is completed but there’s more work still being conducted on phase two. What else do you have going on there?
Judson Culter:
We have an experienced team of field geologists that are actively working on what we’ve eyeballed as two new discovery zones. In addition to you know what we already know in the Arrow Zone, which was our discovery last year. Therefore, we are planning for drilling at depth, which was one of our prime objectives going into the drilling planned in Q1 of 2022. All of our known surface zones at depth are setting the stage for delineating deep drilling in January along with a ground IP study, which we conducted at the end of August where we believe we got a great bang for the buck on exploration was incredible. We conducted a test run of a known mineralized zone with the IP work the end of August. And the preliminary results came back and it not only told us areas along the Bugow Iron Formation, which are sulfide versus non-sulfide.
Important to note, sulfide of course is what’s directly associated with high-grade gold in our project. The Induced Polarization (IP) work has also provides an insight on how to identify low versus high sulfide, which is valuable. Because it gives us a true depth reading below surface of approximately 75 meters. Also phase two along with drilling included airborne lidar imagery provide us the visuals to cancel out the trees, water, and the mud to allow us to see structurally see the rocks. So, combining the lidar data with the drill data and gives us better understanding on things such as faulting, which happens close to surface, and we have to be able to follow the fault down depth to chase the high-grade gold. Again, the IP which is showing us below surface to 75 meters true depth where the high-sulfide is located. The confidence going into our phase three drill program in January is going to be extremely high and we believe that we may have two additional new zones, in addition to the Arrow Zone, and we’re going to be follow along at depth. These iron formation are underground mines and is setting the stage for our next program.
Maurice Jackson
Leaving the Cabin Lake Gold Project, let’s visit the Up Town Gold Project where Rover metals retains a 25 ownership interest today Rover metals announced that it has commenced on phase two of exploration. Mr. Culter briefly acquaint us with the Up Town Gold Project. The Up Town Gold Project is just on the outer city limits of Yellowknife in the Northwest Territories. The Uptown Gold Project is right next door to the historical Giant Mine. One could literally throw a rock from the Giant Mine head frame and hit the property. Bearing in mind that the Giant Mine produced multi-millions of ounces of high- grade gold. We are excited because the Up Town Gold Project is going to see drilling starting in two weeks. And it’s going to a target that’s been overlooked since the 1960’s. We believe there is a lot of potential in the northeast quadrant of the property that borders right up against Gold Terra’s claims which now has a 1.3 million ounce gold resource. So we’re in a sweet spot, one of their best drill targets is just north of where we’re going to be drilling. The green stone belt runs through the city of Yellowknife. And, Newmont on the southern side of the city has optioned off some claims to Gold Terra. It’s exciting because there’s a lot of renewed interest and multiple companies active in this area. Our partners are moving forward with the drill program and for them to have success benefits Rover as well because we retain 25%, but we also have a framework for a merger.
Maurice Jackson
Mr. Culter, please provide us with the capital structure for Rover metals.
Judson Culter:
Rover Metals has approximately 100 million shares outstanding. We have a million-plus dollars in the bank right now reflective of that cap structure plus, 100% ownership of three projects plus the 25% ownership in Up Town.
Maurice Jackson
In closing sir what would you like to say to shareholders?
Judson Culter:
I think now is a good time identify some good buying opportunities now that summer is drawing to a close and the kids are back in school, and double down on some investments such as Rover Metals that are near term on releasing results to the market. We do expect to have good results in the coming weeks. Therefore, I feel that this may be a great time for speculators to check back in and follow us and hold on for the ride.
Maurice Jackson:
Judson for readers that want to learn more about Rover Metals, please share the contact details.
Judson Culter:
Please visit our website. By the way, we’ve just rebranded new website check us out at www.rovermetals.com.
Maurice Jackson:
Mr. Culter always a pleasure to speak with you, wishing you and Rover metals the absolute best sir.
And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com. Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.
