We’re diving into the latest developments on the acquisition of the Motherlode Crown Grants—a significant addition to the Greenwood Precious Metals and Battery Metals Project in British Columbia. 🏔️
With historical production of copper, gold, and silver, coupled with promising exploration results, Grizzly Discoveries is well-positioned to play a critical role in meeting the demand for precious and battery metals. 🚀
📹 Watch the video to uncover: ✅ Key highlights of the Motherlode Crown Grants ✅ Exploration updates and high-grade sample results ✅ The strategic potential of this acquisition
💡 Don’t miss this chance to learn about the growth of Canadian resource exploration and its role in powering the future of clean energy!
Vancouver, British Columbia–(Newsfile Corp. – January 17, 2025) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to present its 2025 outlook while highlighting key milestones accomplished during 2024. With a 100% owned portfolio of high-potential exploration projects, a robust financial position, and well-established strategic partnerships, Riverside remains focused on delivering value through a disciplined and exploration-driven approach. The Company is committed to advancing its assets, fostering new opportunities, and positioning itself for sustained growth and success in the evolving resource sector.
The Company is in a strong cash position, with over C$4 million in cash reserves, no outstanding debt, and a tightly managed share structure with fewer than 75 million shares outstanding and no warrants. This robust financial foundation provides Riverside with the flexibility to advance its exploration initiatives and capitalize on emerging opportunities in North America as it continues to build its royalty portfolio of precious and base metals.
With a focus on maintaining fiscal discipline and strategically allocating resources, Riverside is well-positioned to pursue high-potential projects across its diverse portfolio. The Company’s financial stability and its ability to source high-potential projects enhance its ability to attract partnerships and drive shareholder value through exploration success and asset development. These factors, along with Riverside’s proven track record of delivering results, create a strong foundation for growth, the potential spinout of new businesses to shareholders, and continued exploration success in 2025 and beyond.
“Building on the strong foundation progressed in 2024, Riverside is poised to unlock key opportunities in 2025,” said Riverside’s President and CEO, John-Mark Staude. “With a solid financial position, a diverse portfolio of high-quality projects, and strategic partnerships, we are advancing our exploration efforts in Canada and Mexico while capitalizing on royalty opportunities and ongoing transactions to drive value creation.
The first half of 2025 is shaping up to be an active and pivotal period for Riverside. We are moving forward with plans to spin out our Ontario gold assets into a separate exploration company, a strategic initiative designed to unlock additional value for shareholders and provide secondary liquidity potential. Additionally, we are working closely with our partner, Fortuna Mining, on follow-on exploration the drilling success of 2024 with a program at the Cecilia Project in Mexico, on discovering now high-grade mineralization at the system the Company delineated during the 2024 program. Updates on both initiatives will be shared early in the year.
In British Columbia, we are prioritizing exploration for gold and rare earth elements across key properties, including the Deer Park, Revel and Taft projects, to take advantage of growing demand for critical minerals. These projects represent exciting opportunities to expand our resource base and further diversify our portfolio in a stable Canadian jurisdiction with drive up access and easy delivery to markets.
Looking ahead, we are actively evaluating potential acquisitions to grow our property portfolio in another North American jurisdiction. This expansion aligns with our strategy to capitalize on favorable markets and enhance Riverside’s position as a leader in exploration-driven value creation. With these initiatives and a strengthening commodities market, we are confident in our ability to deliver meaningful results and shareholder value in 2025.”
2025 Strategic Goals and Potential Milestones
Advancing Canadian Assets:
In the first half of 2025, Riverside Resources plans to present a proposal to its shareholders for the potential spinout of its Ontario gold properties-Pichette, Oakes, and Duc-into a dedicated exploration company named Blue Jay Gold (Resources). This strategic initiative aims to create a standalone entity that will focus exclusively on advancing these high-potential gold assets, strategically located within the prolific Geraldton-Beardmore Greenstone Belt in Northwestern Ontario. Shareholders previously benefited from the successful spinout of Capitan Mining (TSXV: CAPT) in 2021, as highlighted in Riverside’s press release at the time. Now, shareholders have another opportunity to unlock value through the proposed spinout of Riverside’s Ontario gold assets into a new company. This initiative aims to create a focused exploration entity, providing shareholders with direct exposure to its potential success and unlocking the embedded value within Riverside’s portfolio.
Riverside intends to execute follow-up exploration on its gold and rare earth element properties in British Columbia with a focus on advancing these projects to drill-ready status. Planned work includes detailed mapping, geochemical sampling, and geophysical surveys to refine targets and evaluate resource potential. Riverside aims to capitalize on the growing demand for gold and critical minerals, leveraging its technical expertise to advance these high-potential assets while seeking partnerships to accelerate exploration efforts.
Mexico Exploration and Partnerships:
The Company is collaborating closely with our partner, Fortuna Mining, to design and launch a follow-on exploration program at the Cecilia Project in Mexico. This next phase of exploration will continue to delineate and define the full extent of the mineralized system, building on the results from the successful 2024 drill program. By focusing on key structural zones and high-priority areas identified through geophysical surveys and earlier drilling, we aim to target higher-grade gold zones and large-scale deposits.
This planned program will include additional detailed mapping and geochemical analysis to refine targets and identify areas of significant gold and silver potential. Geophysics is also planned to refine targets ahead of the next 2025 drill program at Cecilia based upon this spring 2025 exploration results. The project exhibits many technical similarities to nearby operations, such as the Santa Elena District, where Coeur Mining recently acquired Silvercrest Metals for over $1 billion USD, and First Majestic’s most productive operation in Mexico. Updates on this initiative, along with the drill results from the 2024 program, are expected to be shared in Q1 2025 as laboratory results are finalized.
Pursue additional joint ventures or sale agreements for key projects such as Union and Ariel to further de-risk and monetize Riverside’s asset base. This strategic approach aligns with the Company’s goal of diversifying beyond Mexico while capturing value from the high-quality assets developed over the past five years.
Royalty and Strategic Opportunities:
Actively advance and expand Riverside’s royalty portfolio to enhance its value as key royalties are developed and progressed through the pipeline by major partners, such as Fresnillo PLC. The portfolio includes significant assets, such as the Net Smelter Return (NSR) royalty on the Tajitos Gold Project in Mexico with Fresnillo, which holds promising potential for future production. Fresnillo is actively advancing development and permitting at Tajitos with the project well-positioned for continued progress toward production, enhancing the royalty’s value. Further, the recent election of Mexico’s new President, who has maintained a pro-business stance bolsters the attractiveness of the Tajitos NSR.
Continue advancing discussions with U.S.-based exploration groups and other partners across the Americas to explore potential generative exploration alliances. These partnerships and portfolios have the potential to strategically enhance value for Riverside shareholders over the coming year.
Corporate Development:
Maintain a strong focus on financial discipline while strategically expanding and upgrading the Company’s portfolio of quality mineral assets. Riverside remains committed to managing its capital prudently, ensuring resources are allocated efficiently to projects with the highest potential for discovery and value creation. This disciplined approach enables the Company to advance its exploration initiatives while safeguarding its robust balance sheet.
As part of this strategy, Riverside will prioritize opportunities to acquire high-quality assets in mining-friendly jurisdictions, leveraging its proprietary databases and technical expertise to identify projects with significant upside potential. In addition to its current focus in Canada and Mexico, the Company is exploring the potential for acquisitions in another mining-friendly North American jurisdiction, further diversifying its asset base and creating new growth opportunities.
Actively engage with the investment community through attending conferences and events, including Vancouver Round Up, PDAC 2025, Swiss Mining Institute, the Rule Symposium 2025
2024 Recap and Highlights
Canada
Ontario Projects:
Riverside transferred its three key projects into a new subsidiary company, strategically positioning them for a potential unlocking of value in 2025.
Pichette Gold Project: through integrating structural geology LiDAR and geochemical data Blue Jay Gold has identified several new zones with mineralization. Recent fieldwork led to the discovery of mineralized banded iron formations, with samples returning assays up to 21 g/t gold. (Press Release, February 29, 2024)
Duc Project: The company completed a Light Detection and Ranging (LiDAR) survey, enhancing the understanding of surface projections and structural features. This data coupled with last year’s magnetics survey has improved the targeting for future exploration, particularly in identifying major shears indicative of Abitibi greenstone-style gold deposits.
Blue Jay Gold (Resources) Spinout: Riverside announced plans to transfer its Ontario gold assets, including Pichette, Oakes, and Duc, into a wholly owned subsidiary, Blue Jay Gold. (Press Release, November 14, 2024) This strategic move aims to unlock shareholder value by creating a focused exploration company dedicated to advancing these high-potential gold projects in the Geraldton-Beardmore Greenstone Belt.
British Columbia Projects:
Deer Park and Sunrise Gold Projects: Riverside has an option to acquire these projects north of Castlegar and the Rossland Gold Camp. Initial exploration identified two main targets: Viking Horde and Cougar Ridge with rock samples returning assays up to 7.07 g/t gold. These acquisitions align with Riverside’s strategy to expand its presence in British Columbia’s prolific mining regions.
Taft Project: The company secured an option to acquire a 100% interest in the Taft Project, covering 3,000 hectares in the Perry River Carbonatite Belt west of Revelstoke. This project is prospective for rare earth elements and gold, aligning with Riverside’s focus on critical minerals essential for renewable energy and advanced technologies.
Mexico
Cecilia Project: Riverside, in collaboration with Fortuna Mining, launched a fully funded 2,250-meter drill program targeting geologic exploration zones: the Agua Prieta Breccia, East Target, and Mayra vein system. This program expanded on previous exploration efforts to delineate and define the strength and continuity of hydrothermal alteration which was supported by geophysical and field data. This partnership highlights Cecilia’s potential as a cornerstone asset in Sonora and demonstrates Riverside’s expertise in leveraging its extensive Mexican database to identify high-quality opportunities that secure partnerships.
Union Project: Riverside has continued to consolidate the Union Project district by securing property agreements and integrating the data from multiple properties. This effort is aimed at developing a comprehensive, district-wide understanding of the geological framework and identifying high-priority exploration targets. The Company signed a Letter of Intent (LOI) with Questcorp Mining Inc. for an option agreement to acquire a 100% interest in the Union Project for which the Company was paid a fee of $12,500. (Press Release, September 6, 2024). The agreement includes $5.5 million in exploration expenditures, cash payments, and share issuances over four years, with Riverside retaining a 2.5% NSR royalty. Exploration efforts in 2024 focused on mapping, sampling, and geochemical surveys, identifying high-grade gold and zinc zones. These findings have positioned the project for further development in partnership with Questcorp.
Ariel Copper-Gold Project: The company has continued to advance the Ariel Project by consolidating landholdings and conducting early-stage exploration. Riverside has identified porphyry copper-gold-molybdenum potential across a 16 km² area. Recent efforts have focused on securing joint venture opportunities to unlock the project’s value.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources who is responsible for ensuring that the 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.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties 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 properties available for option, with 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
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 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.
Vancouver, British Columbia–(Newsfile Corp. – January 17, 2025) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce the first assay results from its 15,000 meter drill program at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project“). The primary goal of the winter drill program is to add ounces to the current resource model by extending mineralization in the top 100 – 200 meters from surface within the conceptual open pit, effectively converting waste rock to prospective mineable material and potentially reducing the strip ratio of the deposit.
Michael Henrichsen, CEO of Goldshore commented, “We believe that the results from the first three holes prove our thesis that mineralization can be expanded within the top 100 – 200 meters from surface. We believe that these results have the potential to add to the ounce production profile in the first several years of mine life enhancing the economic performance of the project moving forward. Importantly, the PEA currently being completed by G Mining Services represents a conservative case scenario as it will not include the results from the winter drill program.”
Highlights
Results from the first hole (MMD-24-133), drilled to infill a gap in the resource model at the eastern end of the Southwest Zone under Snodgrass Lake, has expanded the width and increased the grade in a number of mineralized shears in the Southwest Zone with a combined intercept of 79.0m of 1.28 g/t Au from 27.0m, including several discrete higher-grade shear zones:
2.0m of 8.61 g/t Au from 27.0m and
32.3m of 1.73 g/t Au from 42.7m, including
16.25m of 2.95 g/t Au from 47.3m
22.0m of 1.19 g/t Au from 84.0m, including
10.0m of 2.13 g/t from 87.0m
Hole MMD-24-134 was also drilled to infill a gap in the resource model at the eastern end of the Southwest Zone under Snodgrass Lake. Mineralization was extended above the known resource with intercepts of:
21.85m of 0.66 g/t Au from 4.5m, including
7.75m of 1.36 g/t Au from 5.0m
12.0m of 0.90 g/t Au from 137.0m
These results will allow for the modelling of mineralized shear zones to surface and into volumes that are currently modelled as waste. The deeper intercepts also add approximately 75 meters to the overall width of the Southwest Zone mineralized shear corridor.
Technical Overview
Figure 1 shows the location of the drill holes being reported with respect to the planned winter drill program, while Figure 2 illustrates a cross section through drill hole MMD-24-133 that demonstrates significant mineralization outside of the current mineral resource. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.
Figure 1: Illustrates the 2025 ongoing winter drill program targeting resource expansion within the conceptual open pit outlined in grey. Drill holes being reported are highlighted in red.
Figure 2: Illustrates a cross -section through MMD-24-133 that demonstrates the presence of a wider series of shears within the top 100 meters from surface. Collectively the shear zones intersected demonstrate greater width to mineralized shear zones than represented in the current resource model as well as the extension of mineralized shears from depth toward the surface. The cross-section also highlights the growth potential beneath the open pit that may enable the open-pit resource to be as deep as the Main-QES pit.
Drilling at the Southwest Zone aims to add to the mineral resource by infilling gaps within the current model created by sparse drilling. Drilling at shallow depths of 100 – 200 meters will allow for mineralized shear zones to be extended to the surface. Drilling at depths of 200 to 400 meters will allow the expansion of the open pit resource to a similar depth as the Main-QES pit that are approximately 500 meters deep.
Two holes (MMD-24-133 and MMD-24-134) were drilled along the western edge of Snodgrass Lake to further delineate the trend of the high-grade core shears and to test the up-dip potential of lower grade marginal shear zones.
Hole MMD-24-133 intersected several closely spaced, high-grade shears hosting quartz-carbonate veinlets with up to 2-3% pyritechalcopyrite within a strongly hematite-albite and silica-sericite-pyrite altered granodiorite intrusion along the contact of a more competent porphyritic diorite (Figure 3). Results were wider and higher grade than suggested in the resource model with 79.0m of 1.28 g/t Au from 27.0m, including 32.3m of 1.73 g/t Au and 22.0m of 1.19 g/t Au. These results are top cut with a cap at 30 g/t Au, which only impacted a 1.2m veined shear assaying 34.8 g/t Au. The hole then transitions into weaker shearing and mineralization within silica-sericite and epidote-chlorite altered diorite intrusions with lower grade intercepts, such as 12.0m of 0.57 g/t Au from 158.0m depth.
Figure 3: Illustrates drill core from hole MMD-24-133 that is characterized by a stacked sequence of high-grade shears within an altered granodiorite returning 16.25m of 2.95 g/t Au from 47.3-66.55m.
Hole MMD-24-134 collared into the same mineralized and sheared altered granodiorite intrusion yielding grade intercepts such as 21.85m of 0.66 g/t Au from 4.5m depth, including 7.75m of 1.36 g/t Au. The hole quickly transitions into the wide multi-stage silica-sericite and epidote-chlorite altered diorite intrusion package, as seen in MMD-24-133, yielding broad lower grade intercepts such as 32.15m of 0.36 g/t Au from 84.85m and 12.0m of 0.90 g/t Au from 137.0m.
Both deeper intercepts in MMD-24-133 and -134 represent new mineralized shears not previously included in the current resource model that will potentially add to the overall width of the shear corridor by approximately 75 meters.
Hole MMD-24-136 was drilled underneath Snodgrass Lake from a peninsula along the southeastern shore to properly identify the southeastern limit of the Southwest Zone. The hole encountered varying andesitic and dacitic volcanics before intersecting the diorite package at the end of the hole. The diorite is weakly sheared with pervasive sericite-silica alteration similar to that encountered towards the end of the previous two holes and is weakly mineralized yielding an intercept of 8.8m of 0.39 g/t Au from 218.0m depth. The hole was terminated as the remaining zone had been previously drilled from the southwestern side of the lake.
The ongoing drill program continues to infill wide-spaced drilling gaps within the Southwest Zone, improving the understanding of the controls on mineralization with the aim of growing it into a larger, more continuous mineralized domain, like that of the Main and QES zones. This includes drilling at 200 to 400 meters depth to test mineralization that may extend the mineral resource and enable the pit to extend to a similar depth as the Main-QES pit (~500 meters).
Winter temperatures have been sufficient to allow access to the muskeg-covered, northern portion of the QES zone and the Company is also commencing ice making activities on Snodgrass Lake. Both are high priorities for the current drill campaign, as they have not been drill-tested by Goldshore and have limited historical exploration drilling completed. As a result, there are significant volumes within the current conceptual open pit that are modelled as waste but have the potential to contain shear-hosted gold mineralization, which in turn, has the potential to add ounces to the current mineral resource estimate.
Table 1: Significant intercepts
HOLE ID
FROM
TO
LENGTH (m)
TRUE WIDTH (m)
CUT GRADE (g/t Au)
UNCUT GRADE (g/t Au)
MMD-24-133
27.00
29.00
2.00
1.2
8.61
8.61
42.70
75.00
32.30
18.6
1.73
1.91
incl
47.30
63.55
16.25
9.3
2.95
3.30
incl
47.30
48.50
1.20
0.7
30.0
34.8
84.00
106.00
22.00
12.7
1.19
1.19
incl
87.00
97.00
10.00
5.8
2.13
2.13
123.00
128.00
5.00
2.9
0.33
0.33
158.00
170.00
12.00
6.9
0.57
0.57
incl
159.00
161.75
2.75
1.6
1.06
1.06
MMD-24-134
4.50
26.35
21.85
15.5
0.66
0.66
incl
5.00
12.75
7.75
5.5
1.36
1.36
35.00
46.00
11.00
7.9
0.79
0.79
incl
39.00
42.00
3.00
2.2
2.03
2.03
63.00
66.95
3.95
2.9
0.75
0.75
84.85
127.00
42.15
31.3
0.36
0.36
137.00
149.00
12.00
9.1
0.90
0.90
159.00
165.80
6.80
5.2
0.30
0.30
MMD-24-136
218.00
226.80
8.80
7.0
0.39
0.39
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 5 metres and minimum mineralized width of 2m. Bordered intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.
Table 2: Drill Collars
HOLE
EAST
NORTH
RL
AZIMUTH
DIP
EOH
MMD-24-133
668,515
5,378,324
428
90
-45
225
MMD-24-134
668,522
5,378,305
428
105
-45
225
MMD-24-136
668,645
5,378,012
430
350
-45
228
Analytical and QA/QC Procedures
All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analysed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).
In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company’s health and safety policies in the field to ensure full compliance, and consulted with the Project’s host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company’s remediation protocols.
Marketing Communications Engagements
The Company also announces that it has engaged the following service providers (the “Contractors”) to advise and coordinate market communications and investor relations on behalf of the Company. The Company is at arms-length from each of the Contractors and does not propose to issue any securities to any of the Contractors in consideration of services to be provided to the Company. Each Contractor has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange.
The Company has engaged Cambridge House International. (“Cambridge House“) to provide a 3 interview studio series for a term ending March 31, 2025. Cambridge House will receive a total fee of US$34,500 in consideration, of which US$19,500 was paid on entry of the engagement and US$5,000 will be paid with the completion of each video interview. Cambridge House is based in Squamish, British Columbia and is wholly owned by Jay Martin. To the Company’s knowledge, neither Cambridge House nor Jay Martin have any interest, directly or indirectly, in the securities of the Company.
The Company has entered into an agreement (the “SRC Agreement“) with SRC Swiss Resource Capital AG (“SRC“) for investor relations and communications services in Europe. The SRC Agreement is effective as of January 15, 2025, for a period of one year, after which time the SRC Agreement is renewable on a quarterly basis. The services to be provided by SRC to the Company include communications services, generally viewed as investor relations, including dissemination of information to existing and potential shareholders, creating media through interview and videos as well as supporting or representing the Company at trade and investment shows. Pursuant to the terms of the SRC Agreement, SRC is to be paid 5,000 CHF per month with additional fees for special services such as trade and investment shows.
SRC is a private company with a business address at Poststr. 1, CH-9100, Herisau, Switzerland. SRC is led by Jochen Staiger, Chief Executive Officer. To the best of the Company’s knowledge, neither SRC nor Jochen Staiger have any interest, directly or indirectly, in the securities of the Company.
About Goldshore
Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate (“MRE”) has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: “Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada,” dated March 20, 2024 with an effective date of January 31, 2024 available under the Company’s SEDAR+ profile at www.sedarplus.ca. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company’s website (www.goldshoreresources.com).
For More Information – Please Contact:
Michael Henrichsen President, Chief Executive Officer and Director Goldshore Resources Inc.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project and potential mining methods; the timing of technical reports and economic studies; statements regarding the Company’s future drill programs, including the expected benefits and results thereof; and other statements that are not historical facts.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the fluctuating price of gold; unknown labilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company’s limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and other risks associated with executing the Company’s objectives and strategies as well as those risk factors discussed in the Company’s continuous disclosure documents filed under the Company’s SEDAR+ profile at www.sedarplus.ca.
The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company’s ability to fund its programs; the Company’s ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company’s mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company’s ability to operate in a safe, efficient, and effective manner; the Company’s ability to obtain financing as and when required and on reasonable terms; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; and that there will be no material adverse change or disruptions affecting the Company or its properties.
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. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
TORONTO (Reuters) – Canada is preparing a list of potential US retaliatory tariffs and some of those could be on critical minerals, Energy and Natural Resources Minister Jonathan Wilkinson said on Thursday.
Wilkinson said that Canada was looking at points of leverage that will create maximum pressure on the United States to come to table to find a resolution to the tariff issue.
Canada could impose countermeasures on up to C$150 billion ($105 billion), a source familiar with the matter said on Wednesday.
PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / January 15, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 7,990,000 units (the “Units”) at a price of C$0.10 per unit, generating gross proceeds of C$799,000. A second and final tranche of the Financing is expected to close in short order.
Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of C$0.20 for a period of two years from closing.
All securities issued under the Financing are subject to a four month and one day hold period expiring on May 16, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.
In connection with the first tranche of the Financing, the Company paid a total of C$8,680 in cash finder’s fees and issued a total of 86,800 finders’ Warrants. The finders’ Warrants are non-transferable and have the same terms as the Warrants forming part of the Units.
An insider of Jericho purchased 1,000,000 Units in the Financing (the “Insider Participation”). The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.
Net proceeds from the Financing will be used for general working capital purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Jericho Energy Ventures
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – January 15, 2025) – West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (“West Point Gold” or the “Company”) is pleased to announce the first drill results from its recently completed 1,264m (7 hole) diamond drill campaign focused on the Tyro Main Zone, at its Gold Chain Project in Arizona.
Highlights:
Hole GC24-30 intersected 52.25m of 1.53 g/t Au, including 36.10m of 2.02 g/t Au, from 43.50m.
Hole GC24-31 intersected 50.65m of 0.53 g/t Au, from 51.30m.
Both these holes intersected additional zones in the hanging wall of the deposit – 2.56m of 2.85 g/t Au, from 7.80m (GC24-30) and 4.10m of 2.17 g/t Au, from 23.00m (GC24-31), prompting infill sampling of the holes which is in progress and have the potential to expand the width of the mineralized zone.
Results confirm the exploration target at Tyro of 15.6 to 31.2 Mt at 1.5 to 2.5 g/t Au (*see note on the next page).
Assays are pending for the remaining five holes representing approximately 1,025m.
“This drill program has materially advanced our understanding of the Tyro Main Zone and its structural controls. The grades returned fit West Point Gold’s previously announced exploration target, while the widths, along with the new hanging wall zone, suggest the zone may be wider than first thought,” stated CEO, Quentin Mai. “We look forward to the balance of the results and are preparing for the next phase of drilling which is expected to follow-up on these positive results.”
Figure 1: Preliminary Tyro Main Zone Long Section showing GC24-30 and GC24-31 (center), along with RC drilling, trenches and 200 Level Sampling
All widths shown our down hole; true width is approximately 80% of down hole width
Hole GC24-30 -Infill sampling is underway, assays pending between 10.36 to 16.40m, 20.00 to 24.70m, 25.30 to 43.50m
Hole GC24-31 – Infill sampling is underway, assays pending between 27.10 to 49.99m
Summary The Q4 2024 drill program totaled 1,264m (7 holes), and was designed to improve West Point Gold’s understanding of the Tyro Main Zone, in particular the structural model and controls of the mineralization. Based on these assay results and our observations from the other holes, there are two key findings.
First, as evidenced in these assay results, the zone appears to be either wider or there are additional structures in the hanging wall (east side) of the Tyro Main Zone. It also appears that the Tyro Main Zone most likely dips at 80 degrees to the east versus our previous assumption that the zone was near vertical.
Secondly, the Tyro Main Zone appears to have developed between two near parallel structures whose relative movement is responsible for the ground preparation for subsequent gold-bearing fluids. The footwall boundary appears to be a sharp contact that may control mineralization while the hanging wall remains partially defined.
These initial results from holes GC24-30 and GC24-31 are consistent with the previously announced exploration model, of 15.6 to 31.2 Mt at 1.5 to 2.5 g/t Au* and conform with the existing geologic model based upon drilling, trenching and geologic mapping conducted over the vein system.
*The potential quantity and grades are conceptual in nature. There has been insufficient exploration drilling to define a mineral resource, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
Hole GC24-30 Drilled to the northwest and perpendicular to the Main Tyro vein system (Figure 4), hole GC24-30 was designed to cross the structure about 50 metres below the Tyro 200 Level which is immediately below the floor of the open pit (Figure 2). The hole is located about 100 metres northeast of hole No. GC23-23 which traversed 44.2 m (approximately 36m true width) at 2.01 g/t Au. A similar complex of veins and veinlets was encountered in hole GC24-30 with the results presented in Table 1. The intercept consists of several discrete banded chalcedony-adularia veins and vein breccia up to 0.8 metres wide within a broader zone 1 to 10 cm veinlets in altered wall rock.
Hole GC24-31 Drilled about 80 metres northeast of hole GC24-30, hole GC24-31 also passed immediately beneath the Tyro 200 Level and about 50 metres below the floor of the open pit (Figure 1). The mineralized envelope, which extends down-hole from 23.00 to 100.55 metres, consists of mostly quartz-chalcedony veinlets with local banded chalcedony-adularia veins and vein breccia up to a couple metres wide.
To date, four holes have been drilled from 20 to 70 metres beneath the Tyro 200 Level over a strike length of about 300 metres indicating widths of the mineralized zone between 25 and 40 metres (true width).
Qualified Person Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for overseeing all phases of the drilling program including logging, core cutting, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, over limit samples were determined by fire assay and gravimetric finish. Silver plus 15 other elements were determined by Aqua Regia ICP-AES (IM-2A16), over limit samples were determined by fire assay and gravimetric finish. Both certified standards and blanks were inserted on site along with duplicates, standards and blanks inserted by American Assay. Standard sample chain of custody procedures were employed during drilling and sampling campaigns until delivery to the analytical facility.
About West Point Gold Corp. West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.
For further information regarding this press release, please contact: Aaron Paterson, Corporate Communications Manager Phone: +1 (778) 358-6173 Email: info@westpointgold.com
FORWARD-LOOKING STATEMENTS: This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business, including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. West Point Gold does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
Edmonton, Alberta–(Newsfile Corp. – January 15, 2025) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to provide an update on the acquisition of the Motherlode Crown Grants from First Majestic Silver Corp. (First Majestic) and some highlights of recent exploration completed by the Company on the Motherlode Crown Grants, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900’s produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 to 5).
The Motherlode Crown Grants near the town of Greenwood, South-Central British Columbia (BC) include 13 Crown Grants for over 300 acres (121.4 hectares) that include subsurface mineral rights. The Crown Grants take precedence over mineral claims issued pursuant to the Mineral Tenures Act (BC). The Crown Grants cover a number of historical mines, including the Motherlode Mine that produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962. The Motherlode skarn mineralization is developed in the Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood (Figure 1).
Highlights
First Majestic has completed the re-instatement of the Motherlode Crown Grants and is in the process of transferring the Crown Grants with the subsurface mineral rights to the Company.
The Company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the newly acquired Crown Grants (Figures 2 & 3).
Of the 17 samples collected from the Motherlode Pit area, a total of 9 samples yielded from 1.16% Cu up to 4.88% Cu, 12 samples yielded from 1.075 grams per tonne (g/t) Au up to 6.65 g/t Au and 8 samples yielded from 12.6 g/t Ag up to 51.3 g/t Ag (Figures 2 & 3; Table 1).
Of the 10 samples collected from the Sunset Pit area, a total of 8 samples yielded from 1.44% Cu up to 3.66% Cu, 9 samples yielded from 1.7 g/t Au up to 4.88 g/t Au and 7 samples yielded from 14.5 g/t Ag up to 55 g/t Ag (Figures 2 & 3; Table 1).
Various other targets including the Greyhound Pit, the Butte City Target, the Margerite Target and the Great Hopes Target have yielded a number of samples with >1% Cu and >10 g/t Au and warrant additional exploration (Figures 2 & 3; Table 1).
Various historical Mineral Resource Estimates (MREs) produced both prior to the last period of mining 1957 – 1962 (Fredericks, 19611) and after the last period of mining as part of a couple of historical economic studies have been recovered from the publicly available BC Property Files.
A historical MRE constructed in 1967 by Allen Geological Engineering Ltd.2 after the last period of mining on behalf of two companies, Aabro Mining and Oils Ltd. and Cumberland Mining Ltd., is described as Drill Proven (Assured), Indicated and Inferred and totals 2.8 million tonnes with a grade of 0.8% Cu and 1.06 g/t Au yielding a calculated grade of 1.6% Cu equivalent (CuEq) utilizing 90% recovery for both metals and $4/lb for Cu and $2,000/oz for Au.
Figure 1: Land position and targets of interest for future exploration, Greenwood Project.
This historical MRE was calculated prior to the implementation of the standards set forth in the current National Instrument (NI) 43-101 and current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards for MREs. Resource definitions, terminology and reporting standards have changed significantly since these series of reports. The estimates in these reports are all considered historical in nature, and a Qualified Person (QP) has not done sufficient work to evaluate these resources as current resources. For these resources to be updated as current resources, a QP would need to examine and analyze the existing drill core, validate and verify the existing data supporting the historical estimate, and perform a confirmatory site visit. Therefore, the company and the QP for this news release are treating this estimate as historical in nature, and are highlighting the estimate for the sole purpose of illustrating the potential extent of mineralization that may be present.
In addition to the historical MREs, drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources (Veris Gold a wholly owned sub of First Majestic) intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the Motherlode Pit in the vicinity of the historical underground workings (Figures 4 and 5).
Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 g/t Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 5).
The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 ounces per ton [opt]) along with significant Cu over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly (Figure 4).
The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorite along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
Figure 2: Motherlode Crown Grants, Historical and Modern Gold Sampling Greenwood Project.
Brian Testo, President and CEO of Grizzly Discoveries, stated, “We are excited with the acquisition of the historical Motherlode Crown Grants and the potential battery metal and precious metal targets that they provide. We look forward to an aggressive 2025 drilling campaign at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District.“
The Company currently has an active land use permit for drilling at the Motherlode area and has designed a confirmation and exploration core drilling program for the Motherlode and Sunset pit areas along with additional drilling at the Greyhound and Great Hopes targets based upon a compilation of historical information. It consists of about 5,000 m in 20 to 25 core holes and is focused on targets beneath and along strike from the various pit areas.
Table 1. Motherlode Area Rock Sample Assay Highlights.
Sample
Showing/ Area
Easting (N83Z11)
Northing (N83Z11)
Au (ppm)
Ag (ppm)
Cu (%)
Pb (%)
Zn (%)
09BMP104
Top
374618
5442036
2.830
32.0
0.429
0.172
0.523
09BMP111
Marguerite
375768
5441431
1.165
51.3
1.160
–
–
09DAP242
Sunset
374961
5440954
4.880
36.4
1.635
–
–
09DAP243
Sunset
374963
5440953
2.340
55.0
1.430
–
–
09DAP244
Sunset
374965
5440946
2.550
20.2
1.030
–
–
09DAP245
Sunset
374965
5440940
3.070
37.1
2.560
–
–
09DAP246
Sunset
374966
5440950
1.700
9.7
2.490
–
–
09RHP063
Motherlode
374624
5441380
6.650
21.7
3.610
–
–
09RHP065
Sunset
374950
5440939
3.250
7.1
0.546
–
–
09RHP066
Sunset
374968
5440960
2.970
17.5
3.680
–
–
09RHP067
Sunset
374978
5440965
3.080
14.5
3.030
–
–
09RHP068
Sunset
374978
5440965
4.110
33.2
1.440
–
–
10CBP023
Great Hopes
375782
5440926
11.300
3.9
0.057
–
–
10CGP059
Greyhound (Butte City)
375428
5440600
13.850
13.0
0.259
–
–
10CGP248
Greyhound (West)
375034
5440346
5.950
28.3
0.069
–
–
10CGP274
Motherlode (West)
374086
5441589
0.246
6.1
–
0.249
2.630
10DCP065
Motherlode North
374972
5442329
0.122
5.5
0.060
–
2.170
10DCP103
Motherlode
374840
5441399
2.870
17.6
2.070
–
–
10JHP018
Marguerite
375780
5441418
1.055
39.1
1.480
–
–
10JHP126
Great Hopes
375795
5440946
51.000
5.2
–
–
–
10JHP130
Gold Bug
377091
5441148
16.600
2110.0
0.216
1.400
0.298
10WBP259
Greyhound (Butte City)
375420
5440613
30.900
60.0
0.259
0.971
3.410
Summary of the Motherlode Crown Grant Purchase Terms
The Company will cover the costs to reinstate and transfer the Crown Grants to the Company.
Grizzly will issue 250,000 common shares of the Company to First Majestic upon successful transfer of the Crown Grants to the Company. These shares will be subject to a restricted trading period ending four months and one day from the date of issuance
The Company will grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic that with an option for the Company to purchase the NSR for $250,000 at any time.
The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC. Brian Testo, CEO, President
Suite 363-9768 170 Street NW Edmonton, Alberta T5T 5L4
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.
Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-Looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
1Report on Motherlode and Sunset Mine by Frances Fredericks, 1951. 2The Motherlode and Greyhound Properties of Cumberland Mining Co. Ltd. N.P.L. Greenwood, BC by Allen Geological Engineering Ltd. September 27th, 1967.
North Vancouver, British Columbia–(Newsfile Corp. – January 15, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased to report record quarterly gold sales and gold production from the Tuvatu Gold Mine in Fiji for Q4 CY2024.
Summary of Quarterly Results:
4,741 oz of gold sold
4,300 oz of gold recovered
29,525 tonnes milled
Total revenue of C$17,993,020
72% increase in revenue compared to previous quarter
Quarterly Production Results
Lion One Metals sold approximately 4,741 oz of gold and 841 oz of silver during the three-month period ending December 31st, 2024. The average sale price for the quarter was C$3,787 per ounce of gold sold. Total revenue for the quarter was C$17,993,020, which represents a 72% increase in revenue compared to the previous quarter’s revenue of C$10,470,518. Gold revenue for the quarter was enhanced by higher gold prices, improved gold grades and recoveries, and the addition of unsold gold from the previous quarter. Approximately 4,300 oz of gold was recovered during the quarter, compared to 3,638 oz from the previous quarter. This represents an 18% increase in quarter-over-quarter gold production and is a new record for the company.
Table 1. Quarterly Production and Operations Summary
Q4 CY2024
Q3 CY2024
Gold sold
oz
4,741
3,129
Silver sold
oz
841
1,093
Total Revenue
C$
17,993,020
10,470,518
Plant throughput
tpd
321
341
Gold grade
g/t
5.49
4.59
Gold recovery
%
82.50
78.20
Gold produced
oz
4,300
3,638
2024 was the first calendar year of production at Tuvatu. The company has achieved consistent quarter-over-quarter increases in gold production, gold recoveries, and gold grades since plant commissioning was complete in Q1 CY2024 (Figure 1). The company is currently in the 300 tpd pilot plant phase of operations, with expansion to the 600 tpd phase of operations anticipated in 2026.
Lion One Chairman and CEO Walter Berukoff stated: “2024 was a pivotal year for Lion One Metals as we brought the Tuvatu mine in Fiji into production at the pilot plant level. We are delighted to have achieved consecutive increases in production every quarter throughout 2024, culminating in a record C$18.0M of quarterly revenue at the end of the year. As we continue to develop the mine and unlock the higher-grade portions of the deposit, we look forward to continuing this trend of increased production at Tuvatu, and ultimately doubling our plant capacity from 300 tpd to 600 tpd in 2026.”
Figure 1. Tuvatu Average Quarterly Gold Grade and Recovery, 2024. Gold grades and recovery have consistently increased quarter-over-quarter at Tuvatu since pilot plant commissioning was complete in Q1 CY2024.
Qualified Persons Statement In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), William J. Witte, P.Eng., Principal Advisor to the Company, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
About Lion One Metals Limited Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or 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 labor 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.
December’s Consumer Price Index (CPI) will serve as the latest test of whether an inflation resurgence is a risk to the US economy as investors debate if and when the Federal Reserve will cut interest rates in 2025.
The report, set for release at 8:30 a.m. ET on Wednesday, is expected to show headline inflation of 2.9%, an uptick from November’s 2.7% annual gain in prices. Consumer prices are expected to have risen 0.4% over the prior month, also ahead of the 0.3% monthly increase seen in November.
Seasonal factors like higher fuel costs and continued stickiness in food inflation are widely expected to keep the headline figures elevated.
On a “core” basis, which strips out the more volatile costs of food and gas, prices in December are expected to have risen 3.3% over last year for the fifth consecutive month. Economists expect monthly core price increases to also match the prior month’s reading of 0.3%, according to Bloomberg data.
“Inflation appears to have stalled moderately above the Fed’s target,” Bank of America economists Stephen Juneau and Jeseo Park wrote in a preview of the report.
Core inflation has remained stubbornly elevated due to higher costs for shelter and services like insurance and medical care. Core services are expected to be little changed in December after airfares and lodging away from home both surprised to the upside in the previous print.
“These categories should moderate in December,” BofA’s Juneau and Park noted. “Shelter prices have cooled relative to earlier in 2024, but there is still room for improvement.”
The team expects rental prices to once again increase 0.2% month over month, while owners’ equivalent rent (OER), or the hypothetical rent a homeowner would pay for the same property, should increase slightly to 0.3%.
Fed’s next challenge: A new administration
Although inflation has been slowing, it has remained above the Federal Reserve’s 2% target on an annual basis.
Trump’s proposed policies, such as high tariffs on imported goods, tax cuts for corporations, and curbs on immigration, are seen as inflationary. And those policies could further complicate the central bank’s path forward for interest rates.
US Federal Reserve Chairman Jerome Powell gestures as he speaks at a press conference after the Monetary Policy Committee meeting in Washington, DC, on December 18, 2024. The US Federal Reserve cut interest rates by a quarter point December 18 and signaled a slower pace of cuts ahead, amid uncertainty about inflation and US President-elect Donald Trump’s economic plans. (Photo by ANDREW CABALLERO-REYNOLDS / AFP via Getty Images) · ANDREW CABALLERO-REYNOLDS via Getty Images
On top of political uncertainties, recent inflation prints have run hot heading into the new year, although producer prices did show some relief in data released on Monday.
“Odds are the December consumer price index won’t sit well with the Federal Reserve,” Oxford Economics chief US economist Ryan Sweet wrote on Friday. The economist said December’s strong labor report further cemented an interest rate pause later this month, especially as central bank leaders have indicated they will take a more gradual easing approach.
“Our forecast is the Fed lowers rates three times this year, but the [jobs] report increases the risk that there will be fewer cuts and that the Fed won’t lower rates as early as March, which is currently our baseline,” Sweet wrote in a separate report on Friday. The economist said he needs more evidence of labor market improvements before adjusting his forecast.
Bank of America, meanwhile, revised its outlook to zero rate cuts this year — and warned a hike could also be on the table.
“Inflation is stuck above target, with risks skewed to the upside, activity is strong, and the labor market now appears to have stabilized,” Juneau and Park said.
“Our base case has the Fed on an extended hold, but we think the risks for the next move are skewed toward a hike. In our view, hikes will be in play if year over year core PCE inflation exceeds 3% and long-term inflation expectations become unanchored.”
Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.
FILE – Barrick Gold Corporation President and CEO Mark Bristow visits the trading floor of the New York Stock Exchange after ringing the opening bell, Wednesday, Jan. 2, 2019. (AP Photo/Richard Drew, File) · Associated Press Finance · ASSOCIATED PRESS
DAKAR, Senegal (AP) — Mali’s military government has started seizing gold stocks of the Canadian mining company Barrick as part of a legal battle over the share of revenue owed to the West African state, according to an internal Barrick letter seen by The Associated Press.
The letter from CEO Mark Bristow to the Malian Mining Minister, dated Monday, says Barrick is “awaiting official confirmation of the proper receipt by the Malian Solidarity Bank,” a government entity.
The seizure follows a warning letter to Barrick earlier this month from Mali’s senior investigating judge, Boubacar Moussa Diarra, saying three tons of gold would be seized.
On Monday, a senior Barrick manager confirmed that three tons had been seized by the military government and placed in the capital, Bamako. The manager spoke on condition of anonymity because they were not authorized to speak publicly.
According to the senior manager, the gold was taken from a mine near Kayes in the west and transported by plane and truck to the capital late Saturday.
The Malian authorities did not immediately respond for comment.
Valued at around $180 million, the gold seizure is part of the dispute over revenues owed to the state.
In December, Mali issued an arrest warrant for Bristow for charges of money laundering, without giving evidence, and ordered the seizure of Barrick’s gold reserves. The company has offered to pay $370 million.
Mali’s military government previously arrested four senior executives of the Canadian mining company as part of the dispute. They are still being held.
Mali is one of Africa’s leading gold producers, but it has struggled for years with jihadi violence and high levels of poverty and hunger. The military seized power in 2020, and the government has placed foreign mining companies under growing pressure as it seeks to shore up revenues.
