Category: Energy

EMX Executes Agreement to Acquire Royalty Portfolio from SSR Mining

Post author By admin
Post date July 29, 2021

Figure 1: Locations of assets in the Royalty Portfolio

EMX Executes Agreement to Acquire Royalty Portfolio from SSR Mining

Vancouver, British Columbia, July 29, 2021 (NYSE American: EMX; TSX Venture: EMX; Frankfurt: 6E9) – EMX Royalty Corporation (the “Company”, or “EMX”) is pleased to announce that it has entered into an agreement (the “Royalty Purchase Agreement”) dated July 29, 2021 with SSR Mining Inc. and certain of its subsidiaries (“SSR Mining”) to purchase a portfolio of royalty interests and deferred payments (the “Royalty Portfolio”). The Royalty Portfolio consists of 18 geographically diverse royalties, with four royalty assets at advanced stages of project development, and also includes U.S. $18 million in future cash payments to be made to the owner of the Royalty Portfolio (see Figure 1 and Table 1). Upon closing of the transaction EMX will pay to SSR Mining U.S. $33 million in cash and U.S. $33 million in common shares of EMX. EMX will also make deferred and contingent payments to SSR Mining of up to U.S. $34 million if certain project advancement milestones are achieved. Further details of the commercial terms are provided below. Completion of the transaction is subject to customary closing conditions, including acceptance by the TSX Venture Exchange (the “TSX-V”).

The portfolio is highlighted by the Gediktepe royalties, which cover assets currently being developed by Lidya Madencilik (“Lidya”), a private Turkish company that expects initial production from Gediktepe in late 2021. These include a 10% NSR royalty on production from an oxide gold-silver deposit and a 2% NSR royalty on underlying polymetallic volcanogenic massive sulfide (“VMS”) mineralization. Yenipazar (Turkey) and Diablillos (Argentina) are additional royalties on advanced stage projects (see summaries below) and the other 14 royalty interests cover both precious metal and base metal assets in South America, Mexico, the United States (Nevada) and Canada.

This transaction will leverage EMX’s experience base in Turkey, is expected to provide significant near-term cash flow to the Company, and establishes a pipeline of quality royalty assets in numerous well-recognized mineral belts around the world. EMX has been working in Turkey for nearly 20 years and looks forward to building its relationship with both SSR Mining and Lidya. In Lidya, EMX sees a well funded and highly capable operator that is developing both the Gediktepe and Hod Maden mines in Turkey. The Gediktepe and Yenipazar royalty interests will bolster EMX’s existing royalty portfolio in Turkey, which includes an uncapped 4% NSR royalty on the Balya North polymetallic deposit and other royalty interests in Turkey. Balya North is being developed by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”) and remains on schedule to commence commercial production in 2021.

This Royalty Portfolio acquisition is well aligned with EMX’s corporate growth strategy, whereby the Company leverages its in-region expertise in identifying opportunities in jurisdictions where EMX already has a strategic presence. Through the years this approach has led to continuous value creation for the Company and synergies with existing EMX initiatives around the world. Further, securing near term positive cash flow will represent an important step in the Company’s evolution.

Rodney Antal, President and Chief Executive Officer of SSR Mining, commented “We are very excited to become a shareholder of EMX where our investors will have the opportunity to participate in the value creation associated with an established, growth-oriented company with an attractive portfolio of precious, base and battery metals royalties”.

Commercial Terms Overview. As stated above, upon closing of the transaction EMX will pay to SSR Mining U.S. $33 million in cash and U.S. $33 million in common shares of EMX. The number of common shares to be issued by EMX to SSR Mining will be based on the volume-weighted average price (“VWAP”) of the shares on the NYSE American stock exchange for the 20 days prior to the date of completion of the transaction (the “Closing Date”). All such shares will be subject to a hold period of 4 months and a day from the Closing Date. Upon closing, SSR Mining will own an approximate 12% undiluted equity interest in EMX, subject to final calculation at closing.

Additional deferred payments of up to U.S. $34 million will be made by EMX to SSR Mining in consideration for the Net Profits Interest (“NPI”) royalty on the Yenipazar property in Turkey. These will be payable as follows: (i) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of construction of a mill on the Yenipazar property; (ii) U.S. $2,000,000 in EMX common shares based on the 20-day VWAP prior to the date of commencement of commercial production; (iii) U.S. $15,000,000 in cash, payable when EMX has received U.S. $10,000,000 in net profits interest payments under the Yenipazar NPI; and (iv) U.S. $15,000,000 in cash, payable when EMX has received a second U.S. $10,000,000 in net profits interest payments. All such shares will be subject to a hold period of 4 months and a day from the date of issue.

EMX intends to pay up to U.S. $10,000,000 of the cash payable at closing with the proceeds of a U.S. $10,000,000 senior secured credit facility (the “Credit Facility”) provided for in a non-binding term sheet EMX has entered into with Sprott Private Resource Lending II (Collector), LP (“Sprott”). The Credit Facility is to mature one year from the Closing Date, bear interest at a rate of 7% per annum, and be secured by general security agreements over the assets of EMX and certain of its subsidiaries, and pledges of the shares of certain of EMX’s subsidiaries, who will, at Sprott’s election, also be guarantors of the loan. In addition to interest payable, the U.S. $10,000,000 to be advanced under the Credit Facility will also be subject to an original issue discount equal to 5% of the amount of the advance. Under the term sheet, Sprott will subscribe for U.S. $300,000 of EMX common shares at closing, at a deemed price equal to U.S. $2.74 per share. All such shares will be subject to a hold period of 4 months and a day from the Closing Date.

If the Credit Facility is not ultimately entered into, the Royalty Purchase Agreement provides for vendor takeback financing by SSR Mining of up to U.S. $5,000,000 (the “VTB Note”), and EMX will pay the balance of the cash payable at closing from available working capital. The VTB Note will bear interest at 14% per annum and will mature 60 days from the Closing Date. If unpaid within such 60 day period, the VTB Note ‎will bear additional interest at a rate of 2% per annum for each 60 day period past due‎.

Royalty Portfolio Overview. As summarized in Figure 1 and Table 1, the Royalty Portfolio spans over 69,000 hectares across seven countries on three continents. Summaries for Gediktepe, Yenipazar and Diablillos are provided here, and further information on the Royalty Portfolio and other EMX assets can be found at www.emxroyalty.com. Upon completion of the transaction, of the royalties purchased, only the royalty over the Gediktepe property in Turkey will be material to EMX at the present time. EMX is currently preparing a technical report on the Gediktepe property to be filed on SEDAR.

Gediktepe VMS Deposit, Western Turkey: The Gediktepe VMS deposit was discovered by a Joint Venture (“JV”) initiative between Alacer Gold Corp. (“Alacer”) and Lidya in 2012-2013 and was quickly advanced to PEA (2014) and Prefeasibility stages (2016). The deposit is comprised of a polymetallic VMS system with precious metal, copper, and zinc rich domains. The upper portion of the deposit is oxidized, forming a precious metal-enriched gossanous cap that will be mined first, followed by production from the underlying polymetallic sulfide deposit. Operator Lidya has commenced development and construction of the project and is anticipating initial production in late 2021.

Alacer, the previous owner of the Gediktepe royalties, completed a merger with SSR Mining in September of 2020. The Gediktepe Royalties consist of: (i) a perpetual 10% NSR royalty over metals produced from the oxide zone (predominantly gold and silver) after cumulative production of 10,000 gold-equivalent oxide ounces; and (ii) a perpetual 2% NSR royalty over metals produced from the sulfide zone (predominantly copper, zinc, lead, silver and gold), payable after cumulative production of 25,000 gold-equivalent sulfide ounces.

The Gediktepe property is the subject of an NI 43-101 Prefeasibility study entitled “Gediktepe 2019 Prefeasibility Study” prepared by OreWin Pty Ltd. on behalf of Alacer with an effective date of Mar. 26, 2019 (the “Gediktepe Report”). The 2019 Gediktepe Report is filed on SEDAR and contains historical mining reserve and resource estimates (summarized in Tables 2.1 and 2.2).

Yenipazar VMS Deposit, Central Turkey: The Yenipazar polymetallic VMS deposit was discovered in the late 1990’s by YAMAS, a predecessor of Alacer and SSR Mining. Aldridge Minerals Inc. (“Aldridge”), a public Canadian corporation formerly listed on the TSX-V, formed a JV with Alacer in 2004 with the right to earn a majority interest in the project. Later modifications to the JV agreement in 2006 led to Aldridge acquiring a 100% project equity interest, with Alacer retaining an NPI royalty that is set at 6% until U.S. $165 million in revenues are received by the royalty holder, after which the NPI converts to a 10% interest.

Aldridge delivered a feasibility study in 2013 that was updated in 2014 before Aldridge encountered financial difficulties. Ultimately, Aldridge (and Yenipazar) were sold to a new private company (Virtus Madencilik) headed by Aldridge’s major shareholder, Ahmet Taçyildiz. Trafigura Ventures V B.V. also owns a 30% interest in Virtus. Virtus recently updated the feasibility study for Yenipazar and is currently seeking project financing for development of the project.

Diablillos Gold-Silver Epithermal deposit, Argentina. Diablillos is an extensive 7,900 hectare property located in the mining friendly Province of Salta in the Argentine Puna region. There are currently seven known mineralized zones on the Diablillos property, with the Oculto zone being the most important and the most explored. Oculto is a deeply oxidized, high-sulfidation epithermal silver-gold deposit.

Operator AbraSilver Resource Corp. (TSX-V: ABRA, “AbraSilver”) has an option to acquire 100% of the Diablillos property, with one outstanding payment due on the earlier of the date on which commercial production occurs at Diablillos or July 31, 2025. A 2018 PEA reported historical Indicated Resources at Oculto of 26.85 million tonnes grading 93g/t silver and 0.85g/t gold, for 80.3 million ounces of contained silver and 732 thousand ounces of contained gold[1]. Preliminary metallurgical tests indicate high recoveries from a crushing, grinding and agitated leach plant with a Merrill-Crowe circuit. High-grade copper intercepts have been discovered at depth and may suggest deeper porphyry-style potential.

AbraSilver continues to drill Oculto as well as advancing other targets on the property. An updated PEA is expected in Q3 2021, with a feasibility study slated for 2022.

Note: A qualified person has not performed sufficient work to classify the historical resource estimate for Diablillos as current, and EMX is not treating the historical estimate as current mineral resources. Significant data compilation, confirmation drilling, re-sampling and data verification by a qualified person may be required before the historical estimates can be classified as current mineral resources. The historical estimate is considered by EMX to be reliable and relevant, and is presented for the purpose of describing the extent and nature of mineralization as presently understood. The historical estimate should not be relied upon until verified.

Summary: By agreeing to acquire the Royalty Portfolio, EMX seeks to secure near term and sustained cash flow from a diverse collection of royalty interests and deferred consideration payments. Further, EMX welcomes SSR Mining as a strategic shareholder in EMX. EMX views this transaction as wholly accretive to its overall business, where royalties over multiple advanced and resource stage assets add significant value and diversity to EMX’s global portfolio.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

[1] As reported in Technical Report on the Diablillos Project, Salta Province, Argentina, prepared by Roscoe Postle Associates (RPA) and filed on SEDAR by AbraPlata Resource Corporation with an effective date of April 16, 2018. Mineral Resources were reported to CIM guidelines and definitions. The resources were estimated using Ordinary Kriging within grade shell domains and reported within an optimized pit based upon metal prices of $1500/oz gold and $23/oz silver and variably calculated recoveries (refer to the technical report for details).

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. Please see www.EMXroyalty.com for more information.

About SSR Mining. SSR Mining Inc. is a leading, free cash flow focused intermediate gold company with four producing assets located in the USA, Turkey, Canada, and Argentina, combined with a global pipeline of high-quality development and exploration assets in the USA, Turkey, Mexico, Peru, and Canada. SSR Mining is listed under the ticker symbol SSRM on the NASDAQ and the TSX, and SSR on the ASX.
For further information contact:
David M. ColePresident and Chief Executive OfficerPhone: (303) 979-6666Dave@EMXroyalty.com
Scott CloseDirector of Investor RelationsPhone: (303) 973-8585SClose@EMXroyalty.com
Isabel BelgerInvestor Relations (Europe)Phone: +49 178 4909039Ibelger@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 actualresults, 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 March 31, 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.

Tags Balya, David Cole, EMX, EMX Royalty, maurice jackson, proven and probable, Royalty Companies, Royalty Generator, Scott Close, SSR Mining, Timok

Base Metals Breaking Energy Exclusive Interviews

Metallic Minerals – 2 Drill Programs, La Plata and Keno Silver projects, Plus Royalties

Post author By admin
Post date July 28, 2021

Joining us for a conversation is Greg Johnson, the CEO of Metallic Minerals (TSX.V: MMG | OTCQB: MMNGF). Sir, we are thrilled to have you back as Metallic Minerals has several exciting developments to provide shareholders. Before we begin, Mr. Johnson, please introduce us to Metallic Minerals and the opportunity the company presents to shareholders.

Greg Johnson:

Metallic Minerals is a silver-focused exploration and development stage company. We are a member of the Metallic Group of Companies. Many of us were part of the original founding of NovaGold. The group is backed by renowned resource investors, such as Eric Sprott. We started putting together the Metallic Group at the bottom of the metal price cycle. Our focus was on brownfields, past-producing, high-potential districts with MMG being focused on silver. Over the past five years, we’ve acquired and explored three exceptional assets, including our flagship Keno Silver Project, the La Plata Project, and our Klondike Royalty Portfolio.

Maurice Jackson:

Speaking of Colorado, sir, take us onsite to the La Plata Silver-Gold-Copper Project located just outside of Durango, as Metallic Minerals has just announced the commencement of its initial drill campaign on the La Plata, which is the first significant exploration in over 50 years in the historic high-grade La Plata Mining District. Before we get into the press release, Mr. Johnson, please acquaint us more with the La Plata Project and the value proposition before us.

Greg Johnson:

So we’re pretty excited about this. We see this as an amazing opportunity. The La Plata Project is a high-grade silver and gold district originally discovered in the 1700s with over 90 different mines and prospects that were developed from the 1800s to about the 1940s, all of these producing bonanza-grade silver and gold. Major miners such as, Rio Tinto and Freeport, have come into the district in the 1950s, recognizing the bulk-tonnage potential in the central part of this precious metals-rich porphyry system. This system is a lot like the Galore Creek Project that was operated by NovaGold and our team was part of driving the success, that was recently sold to Teck and Newmont. Our team is particularly excited about applying our new modern toolkit to this opportunity in this historic high-grade district.

Maurice Jackson:

Metallic Minerals is embarking on Phase One of your 2021 drill program on the La Plata, which will be 2,000 meters of diamond drilling on the central porphyry, which hosts the historic resource. What is the goal for this campaign? And can you talk about the historical resource and what it looks like?

Greg Johnson:

This is the first drill campaign on this project in, as you said, in nearly 50 years. It’s designed to confirm the historic drill work on the project, which is only in the central porphyry system and particularly the precious metal values, which were historically under-sample. With 54 historic drill holes comprising nearly 15,000 meters of drilling, we see the potential here at La Plata to rapidly advance the system to a modern 43-101 resource. That historic resource indicates that we have the potential for a multi-billion-pound copper system with tens of millions of ounces of silver. And that historic resource doesn’t include any of the work surrounding the area in the high-grade epithermal silver-gold structures that were the focus of historic mining.

Maurice Jackson:

How will Metallic Minerals measure success for this drill program and when can the market expect results?

Greg Johnson:

What we’re looking for here is to confirm the past work, which was done by really high-quality players like Rio Tinto and Freeport, with the potential to be able to not only show what they did, but to build on that and show significant expansion. We should start to see results coming out over the next couple of months with continued 3D modeling going into the fall with an objective, ultimately, of delivering an inaugural 43-101 resource on this project.

Maurice Jackson:

Leaving Colorado, let’s visit Metallic Minerals’ flagship Keno Silver Project, which is adjacent to Alexco Resources, located in the historic silver-rich Keno Silver District of the Yukon in Canada. Back in April, Metallic Minerals announced a high-grade silver intersect with 4.1 meters resulting in 2,536 grams per tonnes silver equivalent. That has now been followed up with a 10,000-meter drill program. How are things coming along and are there any updates that you can pass along to us?

Greg Johnson:

This is an exciting program. Our exploration program kicked off this year in June with the first drill. We’re looking to add a second here. This is going to be one of our largest programs to date on the Keno Silver Project with 10,000 meters planned on multiple targets and following up on the success from last year. In addition, we’re running a deep IP geophysical survey across the large targets on the eastern part of the district, which could start to give us a sense of scale and potential on those discoveries from last year’s program.

That historic resource indicates that we have the potential for a multi-billion pound copper system with tens of millions of ounces of silver. And that historic resource doesn’t include any of the work surrounding the area in the high-grade epithermal silver-gold structures that were the focus of historic mining.

Maurice Jackson:

When can we expect results from the drill program and what will determine success?

Greg Johnson:

Results should start coming out any time and continue over the next several months and well into the fall. What we’re hoping to do here is to build and expand on the areas we’ve already identified mineralization, both in terms of the high-grade systems and the bulk tonnage, and to continue to build towards that inaugural resource estimate for the project.

Maurice Jackson:

Finally, let’s discuss the highly innovative Klondike alluvial gold properties in the Yukon. Do you have any updates there?

Greg Johnson:

We were pleased actually to see significant progress on the Alluvial Gold Portfolio. This is in the historic Klondike Gold Fields, which produced over 20 million ounces historically. And today that production is from these large-scale, modern open-pit operations. We’ve had major drill campaigns completed by a couple of our operators this spring and going into the summer. The next steps here are the initiation of bulk-sample processing, which is like test mining of the ground. And from that work, we could potentially see two or three of the blocks advance quickly to commercial gold production, including the potential for the first significant production royalties to Metallic Minerals this year from gold produced on those projects.

Maurice Jackson:

Oh, that sounds exciting. All right. Leaving the project sites, what is the next significant milestone for Metallic Minerals?

Greg Johnson:

With three active programs, we’ve got a lot of activity that I would expect to see strong news flow coming from each of the projects. Each one of them has kind of its milestones, but drilling, geophysical results, and then, ultimately, culminating in initial resource estimates and potentially gold production from the Alluvial Portfolio.

Maurice Jackson:

Let’s look at some numbers. Sir, please provide us the capital structure for Metallic Minerals.

Greg Johnson:

The company is well structured. 126 million shares outstanding. No debt. Got about 6 million in cash and significant in-the-money warrants that could bring in as much as another $12 million for the next year. We’re well-positioned to carry out this year’s program and we’re well-positioned into 2022 for follow-up programs.

Maurice Jackson:

In closing, Mr. Johnson, what would you like to say to shareholders?

Greg Johnson:

I think it’s worth talking about the current markets for precious metals and particularly how it fits in with the historic seasonality for the sector. We believe that a major bottom in the commodity and precious metal sector was put in, in that 2016 to 2020 period and that we’re now in the very early stages of a multi-year commodity cycle. I believe it has the potential to eclipse the last cycle that ran from 2001 to 2011. Typically, during these decade-long cycles, we’re going to get extended, healthy consolidations that can take significant periods to resolve. Gold and silver equities have been consolidating since August of last year. On top of that, we’re currently in what’s typically the weakest seasonal period for silver and gold with the strongest period generally starting in the fall.

The next steps here are the initiation of bulk-sample processing, which is like test mining of the ground. And from that work, we could potentially see two or three of the blocks advance quickly to commercial gold production, including the potential for the first significant production royalties to Metallic Minerals this year from gold produced on those projects.

Greg Johnson:

I think this presents an opportunity for astute investors to be picking up shares of high-quality, precious-metal companies at terrific values. With such long recent consolidations, but such very bullish fundamentals, I think we’re winding the spring here for a very bullish period ahead with likely another five to ten years of bull markets still to come. I should mention that with over 30,000 meters of drilling underway in the three Metallic Group of Companies, this gives investors exceptional exposure to silver, battery metals, and copper in what is looking to be an exceptional time in the marketplace for people to be picking up value in our group.

Maurice Jackson:

Mr. Johnson, last question and that is, what did I forget to ask?

Greg Johnson:

I think this has been an amazingly comprehensive coverage and interview. I would recommend that if investors have questions that they go to our website, which is mmgsilver.com, or give us a call and the numbers listed on that website. We’re happy always to talk with investors and to answer questions.

Maurice Jackson:

Mr. Johnson, it has been a pleasure speaking with you. Wishing you and Metallic Minerals the absolute best, sir.

Greg Johnson:

Thanks a lot. Been a pleasure to be back with you.

Maurice Jackson:

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.

Tags Greg Johnson, Keno Silver Project, Klondike Royalties, La Plata, maurice jackson, Metallic Mienrals, proven and probable, The Metallic Group of Companies

Base Metals Energy Junior Mining Project Generators

Skyharbour’s Partner Company Valor Announces Airborne Survey Highlights Targets at Hook Lake Project, Athabasca Basin, Canada

Post author By admin
Post date July 22, 2021

Thu, July 22, 2021, 5:00 PM In this article:

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VANCOUVER, British Columbia, July 22, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH ) (OTCQB: SYHBF ) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) has received the results and interpretation from the airborne magnetic and very low frequency electromagnetic (VLF-EM) geophysical survey completed over the Hook Lake Project in April. The purpose of the survey was to gather data that would help identify areas of shallow structural complexity, known to be favorable for the deposition of uranium in basement lithologies, and determine the geophysical signature of known occurrences.

Hook Lake (Formally North Falcon) Project
https://skyharbourltd.com/_resources/projects/Falcon-Point-Project.jpg

The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor.

Highlights:

Airborne geophysical survey reinforces size potential of historic uranium occurrences and highlights additional targets across the Hook Lake Project:
- Both the VLF-EM and Magnetic data confirm extensive NE-SW trending structural features as well as N-S trending structures
- Data confirms known uranium showings are situated where these structural trends intersect and in close association with shallow VLF-EM conductors
- The N-S structural features may represent the influence of the Tabbernor Fault System, a major structural feature associated with known uranium deposits in the eastern Athabasca Basin
- “Heat maps” illustrating structural complexity highlighted additional areas for follow-up work
Field work set to commence very shortly at the Hook Lake Project to follow up new targets and historic uranium occurrences
Work approvals received including approval for drilling
Radiometric survey has commenced with coverage of the northeastern third of the Hook Lake Project and will be completed by the end of July

Figure 1: Hook Lake Project – VLF-EM image showing priority target areas
https://www.skyharbourltd.com/_resources/maps/Hook-Lake-VLF-EM.jpg

Valor Executive Chairman, Mr. George Bauk commented: “The survey has confirmed the key targets for immediate follow up and has provided data to verify additional targets for drilling. Significant new geological information has come out of the survey including the N-S structural features, possibly representing the Tabbernor Fault System. These results have exceeded our expectations with the number of target areas to follow up. We have secured all permits that allow us to follow up on the ground, including drilling, which we are targeting for the December quarter. The field crew will be mobilising to site July 23^rd, 2021. The company is excited to be commencing field work in Saskatchewan and looks forward to the results of the exploration effort at Hook Lake.”

Airborne Magnetic and VLF-EM Survey:

A project-wide, high-resolution, magnetic and VLF-EM survey was completed in April. The 5,172-line km survey was completed by Precision Geosurveys of Langley, British Columbia, using a fixed wing aircraft at a line spacing of 75m. The purpose of the survey was to gather data that would help identify areas of shallow structural complexity, known to be favorable for the deposition of uranium in basement lithologies, and determine the geophysical signature of known occurrences.

Geophysical Data Interpretation:

The geophysical data confirms extensive and complex structural trends across the property that could indicate structural and/or lithological traps for uranium mineralisation. Both the magnetic and VLF-EM data show a strong NE-SW structural trend similar to that present in other basement-hosted uranium deposits in the eastern Athabasca Basin area. A significant N-S structural trend is also present that has features similar to those associated with the Tabbernor Fault System.

Several of the known in-situ uranium occurrences on the property (Hook Lake, Nob Hill and West Way – see news release dated October 22^nd, 2020) are coincident with the intersection of these structural trends. The most significant uranium occurrences within the property also appear to have a close association with shallow VLF-EM conductors (see Figure 1 above). Several other conductors, that have previously seen little exploration and have no known nearby occurrences, also represent excellent prospects for follow-up exploration.

The magnetic data shows the Hook Lake mineralisation, with high grade surface outcrop with reported grades in grab samples up to 68% U₃O₈, may be part of a larger and broader anomalous zone than originally thought. 3D Inversion of the magnetic data indicates a potential feeder system coming up through the stratigraphy.

Tabbernor Fault System:

The presence of a N-S structural influence similar to that recognised in the Tabbernor Fault System could be an important feature on the Hook Lake property. The Tabbernor Fault System is a wide structural feature that runs N-S for over 1,500 km along Saskatchewan’s eastern provincial border. While there is no direct link between the Tabbernor system and current known uranium deposits, several deposits are associated with a N-S structural component within the sphere of influence of the Tabbernor system. It has been proposed that reactivation of the Tabbernor Fault System coincided with the formation of large uranium deposits in the Athabasca Basin and the Tabbernor system may have controlled deposit location. Deposits exhibiting N-S structural control, with features consistent with the Tabbernor system include Rabbit Lake (Collins Bay B Zone and Eagle Point), Dawn Lake, Midwest and the Sue deposit (reference Davies, J.R. (1998): The origin, structural style, and reactivation history of the Tabbernor fault zone, Saskatchewan, Canada; Masters thesis, McGill University, Montreal, Quebec, 105p.).

Airborne Radiometric Survey:

A high-resolution airborne radiometric survey is being flown over the northeastern third of the Hook Lake Project, which will include the Hook Lake historical high grade uranium occurrence. The survey is being flown by Special Projects Inc. (“SPI”) from Calgary, Alberta. SPI is considered an industry-leading provider of high-resolution airborne radiometric surveying. SPI flew the radiometric survey that delineated Fission Uranium’s PLS boulder field which eventually led to the discovery of the high-grade Triple R uranium deposit.

Any significant new radiometric anomalies generated from this survey will be followed up on ground during the upcoming field program.

Ground Field Work Program:

Valor has received the required work permits to carry out its follow-up ground exploration program on the Hook Lake project. The permits, issued by Saskatchewan Ministry of Environment include Crown Land Work Authorization and Forest Product Permit, Aquatic Habitat Protection Permit, and Temporary Work Camp Permit. They allow Valor to conduct ground exploration, including drilling, until the end of 2022.

Field work is set to commence in the next few days at the Hook Lake Project to follow-up on the historic uranium occurrences and new targets generated from the recently completed magnetic/VLF-EM survey. A field crew supported by a helicopter is being mobilised to the area to carry out a field program which will take 2-3 weeks.

The initial field work program will be conducted by Dahrouge Geological Consulting Ltd. Dahrouge Geological is a North American mineral exploration, consulting, and project management group with offices in Canada and the United States. They provide professional geological, logistical, and project management services to the world’s mining and mineral resource industry including project generation, program design, geophysics, project evaluation, geology & resources, as well as mine engineering and geotechnics. Dahrouge Geological has extensive exploration experience in Saskatchewan’s Athabasca Basin, with a consistent presence in the area since the early 2000’s; this experience and network of contacts makes Dahrouge Geological an ideal team to lead the exploration program on the Hook Lake Project.

About Hook Lake (previously North Falcon Point) Project:

Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralisation including:

Hook Lake / Zone S – High grade surface outcrop with reported grades in grab samples up to 68% U₃O₈; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast
Nob Hill – Fracture-controlled vein-type uranium mineralisation on surface outcrop with up to 0.130% – 0.141% U₃O₈ in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m
West Way – Vein type U mineralisation within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U₃O₈ and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb
Grid T – Fracture-hosted secondary uranium mineralisation in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U
Alexander Lake Boulder Field – 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively
Thompson Lake Boulder Field – Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder
NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni

The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.

About Valor Resources Ltd:

Valor Resources Limited (ASX: VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U₃O₈ over 5.9 metres including 20.8% U₃O₈over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U₃O₈at 0.03% and 5.3 million pounds of ThO₂ at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hooke Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”

Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Tags #InvestingInUranium, athabasca, investing in battery metals, Investinginenergy, jordan trimble, Moore Lake Property, Skyharbour Resources, uranium, Valor Resources

Base Metals Emx Royalty Energy Junior Mining Project Generators

EMX Executes Agreement to Sell its Svärdsjö Project in Sweden to District Metals

Post author By admin
Post date July 22, 2021

July 22, 2021

Granite Creek Copper Reports First Results from Phase 1 of 2021 Drill Program, Including 43.50 Meters of 1.40 % Copper Equivalent, at the Carmacks Copper-Gold-Silver Project in Yukon, Canada

Post author By admin
Post date July 22, 2021

Thu, July 22, 2021, 8:00 AMIn this article:

GCXXF-15.13%

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VANCOUVER, BC / ACCESSWIRE / July 22, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the first tranche of assays from Phase 1 of the Company’s 2021 drilling program on its 100%-owned Carmacks project. This recently completed first phase consisted of nineteen diamond drill holes, totalling 6355 meters, focused on the existing resource area with the goals of strengthening confidence in the resource model, evaluating opportunities for resource expansion and/or upgrading the sulphide portion of Zones 1 and 2000S from an inferred to indicated resource, and evaluating continuity of mineralization in Zone 13 (Figure 1).

Granite Creek President & CEO, Tim Johnson, commented, “The Company is extremely pleased with the progress of 2021 exploration program at Carmacks. A Phase 3 drilling program is under development and projected to commence in mid-August of this year. The addition of this third stage would expand the overall 2021 campaign to include a total of 10,000 meters of diamond drilling as well as 3000m of reverse circulation drilling. We expect this program will significantly expand the total contained metal on the project, resulting in a substantially and form the basis for a new Preliminary Economic Assessment.”

Table 1 – Highlights from first tranche of 2021 Diamond Drill Assays at the Carmacks Project

Drillhole	From(m)	To(m)	Length*(m)	Cu(%)	Mo(%)	Au(g/t)	Ag(g/t)	CuEq^ (%)**	Zone
CRM21-004	323.50	367.00	43.50	1.12	0.03	0.20	3.41	1.40	Zone 1
Including	338.50	367.00	28.50	1.57	0.04	0.29	4.53	1.96
and including	352.00&dagger;	367.00	15.00	1.80	0.07	0.33	4.81	2.31
CRM21-007	222.52	223.70	4.08	0.91	0.01	0.19	6.32	1.13
CRM21-010	450.00	513.40	63.40	0.27	BDL	0.08	1.31	0.35
Including	450.00	482.25	32.25	0.30	BDL	0.08	1.41	0.39
Including	478.32	482.25	3.93	0.58	0.01	0.20	2.85	0.78
Including	488.90	513.40	24.50	0.30	BDL	0.09	1.47	0.39
including	502.90	509.75	6.85	0.41	0.01	0.16	1.93	0.57
									2000 S
CRM21-003	146.35&dagger;	214.50	68.15	0.59	0.03	0.14	3.69	0.830
Including	161.40	179.80	18.04	0.81	0.03	0.21	4.80	1.13
CRM21-005	137.05	179.80	43.24	0.74	0.05	0.16	3.82	1.06
Including	142.05	158.40	16.35	1.20	0.03	0.26	6.11	1.58
CRM21-006	194.40	278.20	83.80	0.64	0.01	0.13	3.23	0.81
Including	229.20	278.20	49	0.87	0.02	0.17	3.88	1.10
Including	248.76	266.20	17.44	1.21	0.03	0.22	5.11	1.53
CRM21-008	195.80	228.40	32.6	0.80	0.02	0.17	3.88	1.02
Including	201.55	215.55	14	1.10	0.02	0.24	4.86	1.40
CRM21-009	190.50	243.85	53.35	0.59	0.01	0.14	2.71	0.75
Including	191.30	201.70	10.4	0.87	BDL	0.25	3.70	1.09
and including	209.00	225.95	16.95	0.62	0.01	0.13	2.76	0.77
and Including	229.90	235.25	5.35	1.21	0.06	0.28	4.88	1.68

https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

^**Copper equivalent (Cu Eq) values assume Cu $3.35/lb, Au $1600/oz, Ag $24/oz, Mo $12/lb and 100% recovery. *Weighted average intercepts shown. Estimated true widths vary but, based on geological interpretation of cross-sections, are estimated to be typically 60-70% of the intersected widths. &dagger; Zone has poor recovery

Figure 1 – Carmacks Copper Project Plan View

Zone 1

Eight holes were drilled in Zone 1 with the objective of increasing confidence in the inferred portion of the sulfide resource of this zone as well as evaluating the southern down-dip continuation of the inferred resource (Figure 2). The drilling was successful in achieving its objectives of delineating the depth extent of mineralization, expanding the mineralization below the current resource model and confirming the grade and anticipated thickness in the inferred portion of the sulphide resource in this zone.

Table 2 – Zone 1 mineral resource[1]

Category	Tonnes (000’s)	Cu (%)	Acid soluble Cu (%)	Sulphide Cu (%)	Au (g/t)	Ag (g/t)
Measure & IndicatedOxide	11,980,000	1.07	0.86	0.21	0.46	4.58
Inferred Oxide	90,000	0.73	0.53	0.20	.13	1.81
Measure & IndicatedSulfide	4,340,000	0.75	0.03	0.72	0.22	2.33
Inferred Sulfide	4,031,000	0.71	0.01	0.70	.18	1.90

¹ Mineral resource prepared by Dr. Gilles Arseneau, P.Geo., reported in JDS Energy and Mining Inc 2017 Ni 43-101 [1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada., with updated resource for Zones 2000S, 12 and 13 as reported in April 9, 2018 by Copper North Mining.

While the Preliminary Economic Assessment (“PEA”) published in 2017_(1,2) only looked at the oxide material in Zones 1,4 & 7, work being conducted by Sedgman and Mining Plus (see news release dated May 18, 2021) is looking at various scenarios to process the sulfide portion of Zone 1 and other sulfide zones of the deposit building a basis for an updated PEA that would include both oxide and sulfide ore.

Figure 2– Long section of Zone 1 looking west

Zone 2000S

Zone 2000S, originally discovered in 2006 as the result of an IP survey, has the potential to add tonnage in the sulfide domain of resource category. The mineral resource on this zone is shown in Table 3, which was based on a 0.25% total copper grade cut-off.¹Six diamond drillholes were drilled in this zone are part of the first phase of drilling with the intent of evaluating the continuation of bornite-chalcopyrite mineralization down dip. The drilling was very successful in not only confirming the continuation of the high grade bornite-chalcopyrite mineralization but also extending mineralization well below the current block model as well as encountering significant molybdenite mineralization A technical hole (CRM21-018) was drilled subparallel to the mineralization to evaluate the geological concept of a southern W-E striking fault which post-dates and offsets mineralization.

Table 3 – Zone 2000S mineral resources¹

Category	Tonnes (000’s)	Cu (%)	Acid soluble Cu (%)	Sulphide Cu (%)	Au (g/t)	Ag (g/t)
Measure & IndicatedOxide	410,878	0.64	0.49	0.14	0.23	3.15
Inferred Oxide	266,894	0.57	0.34	0.24	0.14	2.66
Measure & IndicatedSulfide	740,000	0.70	0.07	0.63	0.17	3.28
Inferred Sulfide	636,000	0.73	0.05	0.68	0.18	3.50

¹Mineral resource prepared by Dr. Gilles Arseneau, P.Geo., reported in JDS Energy and Mining Inc 2017 Ni 43-101 [1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada., with updated resource for Zones 2000S, 12 and 13 as reported in April 9, 2018 by Copper North Mining.

Figure 3 – Long section of 2000S

Zone 13

Three diamond drill holes were completed in Zone 13 with the intent of evaluating the northern continuity of sulfide mineralization, along strike and to infill an open area of the block model. Within 1000m of Zone 1, Zone 13 has the potential to add both oxide and sulfide resources to an updated mine plan. The sulfide portion remains open along strike and at depth. All assay results from Zone 13 are pending.

COVID-19 Protocols

Granite Creek has worked closely with the Yukon government to develop a COVID-19 safety plan that enables the Company to implement an effective work plan while maintaining the highest degree of safety of our workers and surrounding communities. The Company strictly adheres to mandates put in place by health authorities at the Federal and Territorial government level and hold the health and safety of our workers, and the citizens of the communities in which work in the highest regard.

[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag.

[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com

Qualified Person

Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Quality Control and Quality Assurance

Quality assurance and quality control procedures include the systematic insertion of duplicate, blank and standard samples, making up 12% of the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and shipped directly to the Bureau Veritas preparation laboratory in Whitehorse. All geochemical analyses were performed by Bureau Veritas in Vancouver. Copper and silver analysis was performed by four-acid digestion with an ICP-ES finish. Non-sulphide copper was determined through a sulphuric acid leach with an AAS finish. Gold was analyzed by igniting a 15 g sample followed by an aqua regia digestion with an ICP-MS finish.

Forward-Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Granite Creek Copper Ltd.

Tags #InvestingInCopper, #ProvenAndProbable, Carmack Deposit, Granite Creek Copper, Investing in Base Metals, investing in battery metals, Metallic Group of Companies, Tim Johnson

Base Metals Energy Oil & Gas

Jericho Energy Ventures Co-Leads Investment into Hydrogen Catalyst Discovery Platform

Post author By admin
Post date July 22, 2021

Thu, July 22, 2021, 6:30 AMIn this article:

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H2U has developed a high throughput screening process for discovering electrocatalysts
Millions of elemental compositions screened and tested daily for their catalytic value
Low-cost catalysts enable the Hydrogen Economy
H2U to develop its own proprietary electrolyser technology

NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / July 22, 2021 /Jericho Energy Ventures (TSXV:JEV)(Frankfurt:JLM0)(OTC PINK:JROOF) (“Jericho” or “JEV” or the “Company”) is pleased to announce it has led a Series A financing for H2U Technologies, Inc. (“H2U”), a Company focused on developing its proprietary ultrahigh throughput, AI-driven, electrocatalyst discovery process for electrolyser and fuel cell applications.

Jericho’s USD$1.5 million Co-Lead investment is joined by Dolby Family Ventures, Hess Corporation (NYSE: HES) and Motus Ventures – with a total Series A raise of approximately USD$7 million. Each of the Co-Leads, including Jericho, will have board representation. The Board of H2U will also be joined by independent director, Tom Werner, former CEO (2003-2021) and current Chairman of SunPower (NASDAQ: SPWR).

H2U intends to use this funding to support the start-up and development of its proprietary electrocatalyst discovery process and machinery. H2U will also develop its own PEM electrolyser technology utilizing its proprietary catalysts, breakthrough sub-component innovations and manufacturing processes.

H2U’s low-cost electrolyser is being developed in partnership with Southern California Gas Co. (“SoCalGas”) – the cost target of which is half that of current PEM electrolysers. SoCalGas, who recently announced its commitment to reach Net Zero carbon emissions in its operations and delivery by 2045, will conduct demonstration testing of the new low-cost electrolyser, as well as validation testing on the performance of new non-precious metal catalysts, materials used in small quantities to initiate and accelerate the chemical process of splitting water into hydrogen and oxygen.

Disruptive Solution and Background

H2U is a commercialization of technology, exclusively licensed to H2U by Caltech, developed under a $122 million Joint Center for Artificial Photosynthesis (“JCAP”) program established by the Department of Energy and a group of universities including the California Institute of Technology, University of California, Berkley, Stanford University, UC Irvine, and UC San Diego. The mission of JCAP was to find cost-effective methods to produce fuels using only sunlight, water, and CO2. This program produced over 30 patents to which H2U has the exclusive worldwide IP-rights.

H2U’s disruptive solution to replace precious metal catalysts with cheap, stable, and effective electrocatalysts will be a required step in the adoption of green hydrogen, globally. The resulting electrocatalyst discovery pipeline is an unprecedented, proprietary, end-to-end, ultra-high throughput data-driven process focused on the discovery of new catalysts for hydrogen electrolysis, fuel cells and batteries. The process is capable of preparing, characterizing, and quantifying the catalytic activity of over 1 million compositions per day, which is orders of magnitude beyond the current state-of-the-art. Critically, the Company has already developed, lab tested and has patents pending on two potential catalysts that will be the focal point of commercialization efforts in the near-term.

H2U will initially be led by some of the leading scientists in the field of photo-and-electrocatalysis, many of whom led and directed the JCAP program at the California Institute of Technology including H2U’s Chief Scientific Advisor, Dr. Nathan Lewis (Scientific Director, Principal Investigator for JCAP and Professor of Chemistry at Caltech).

Ryan Breen, Head of Corporate Strategy at JEV, states, “Critical to any pathway towards Net Zero targets will be the low-cost, efficient and stable electrocatalysts developed by H2U for the rapidly growing Hydrogen Economy. H2U’s catalyst discovery process is a distinct advantage over traditional catalyst companies looking to serve the hydrogen market. Driving down the cost of green hydrogen is of vital importance to its adoption and JEV seeks to play a market-leading role in that pursuit. Moreover, we are thrilled to be joined by like-minded investors in recognizing the value of H2U’s proprietary technology and world-class Caltech team.”

Hydrogen Generation and Utilization: Electrolysers, Fuel Cells and Catalysts

The market to produce and utilize green hydrogen as a fuel, feedstock and means of energy storage is slated to reach a total addressable market size of $2.5 trillion per annum by 2050. Today, electrolysers and fuel cells rely on expensive and supply-constrained precious metals for electrocatalysts, particularly, platinum and iridium whose prices have risen 25% and 240%, respectively over the last twelve months.

According to the Renewable Energy Agency (IRENA) and Bloomberg New Energy Finance (BNEF), required electrolyser capacity needs to reach 270GW and 1700GW by 2030 and 2050 respectively to meet global decarbonization targets. The current global pipeline is 3GW. The growth prospects of green hydrogen and its electrolysis production process will produce an inevitable supply pull on currently utilized precious metal catalysts. In fact, the Henry Royce Institute (UK) identified the reduction of precious metals in PEM electrolyser and fuel cells as one of its top five priorities for materials research enabling the hydrogen economy.

Jericho’s Hydrogen Platform

Jericho Energy Ventures investment in H2U follows on its hydrogen-based boiler acquisition of HTI earlier in 2021. JEV’s hydrogen investment platform offers shareholders full spectrum exposure to critical parts enabling the hydrogen economy.

About Jericho Energy Ventures

Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. JEV’s wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U’s electrocatalyst and low-cost electrolyser platform. JEV also owns and operates producing oil and gas assets in the US Mid-Continent, predominantly in Oklahoma.

Website: https://jerichoenergyventures.com/
Twitter: https://twitter.com/JerichoEV
LinkedIn: https://www.linkedin.com/company/jericho-energy-ventures
YouTube: https://www.youtube.com/c/JerichoEnergyVentures

CONTACT:

Adam Rabiner
Director of IR
Jericho Energy Ventures
604.343.4534
adam@jerichoenergyventures.com

This news release contains certain ‘forward-looking information’ within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute ‘forward-looking statements’ within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and 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. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as ‘plans’, ‘expects’ or ‘does not expect’, ‘is expected’, ‘budget’, ‘scheduled’, ‘estimates’, ‘forecasts’, ‘intends’, ‘anticipates’ or ‘does not anticipate’, or ‘believes’, or variations of such words and phrases or may contain statements that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will be taken’, ‘will continue’, ‘will occur’ or ‘will be achieved’. Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and 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 information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information and 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 information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Jericho Energy Ventures Inc.

Tags Brian Williamson, Clean Air, Craft Oil, Hydrogen Energy, Jericho Energy Ventures, Jericho Oil, JEV, maurice jackson, proven and probable

Base Metals Energy Junior Mining Precious Metals

Group Ten Metals Announces Arrival of Second Drill Rig, Provides Update on 10,000 Meter Drill Program at Stillwater West PGE-Ni-Cu-Co + Au Project in Montana, USA

Post author By admin
Post date July 20, 2021

VANCOUVER, BC / ACCESSWIRE / July 20, 2021 / Group Ten Metals Inc. (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “Group Ten”) announces the arrival of the second drill rig at the Company’s flagship Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA, and provides an update on progress of the planned 10,000 meter 2021 drill campaign. Drilling is now underway in the Chrome Mountain target area (see Figure 1), and a second rig will be installed in the Camp target area this week.

Figure 1 – Drilling in progress in the Chrome Mountain target area, Stillwater West PGE-Ni-Cu-Co + Au project

The primary objective of the 2021 program is: 1) the expansion of existing drill-defined kilometer-scale nickel and copper sulphide mineralization, enriched in palladium, platinum, rhodium, gold and cobalt, at the advanced Chrome Mountain, Camp and Iron Mountain target areas; and 2) step-out testing of adjacent priority targets identified in the 2020 Induced Polarization (“IP”) survey (see Figure 2 and April 19, 2021 news release). In addition, an expanded IP geophysical survey, mapping and prospecting programs are planned as part of this season’s program, with the aim of advancing earlier-stage targets to drill-ready status across Stillwater West’s 32-kilometer strike length.

Michael Rowley, President and CEO, commented, “We are very pleased to have initiated our most extensive drill campaign to date at Stillwater West, and to be accelerating advancement of the project towards its potential to become a major source of low-carbon battery, green, and precious metals in a premier US mining district. The 2021 campaign will focus on the most advanced target areas with the objective of expanding the initial resource estimates that are now in progress with release targeted for this summer. Our work to date, combined with the large, productive, and metal-rich nature of the district, highlights the terrific scale and expansion potential of the Stillwater West project. We look forward to further announcements in the near term.”

Figure 2 – Drilling in progress in the Chrome Mountain target area, Stillwater West PGE-Ni-Cu-Co + Au project

About Stillwater West

Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions Group Ten as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater PGE mines in south-central Montana, USA¹. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex². Drill campaigns by the Company, complemented by a substantial historic drill database, are driving 3D models of Platreef-style mineralization in the five most advanced target areas, three of which are expected to become formal mineral resources by mid-2021. Multiple earlier-stage Platreef-style and reef-type targets are being advanced across the rest of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Group Ten Metals Inc.

Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

About the Metallic Group of Companies

The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com
Web: http://grouptenmetals.com
Phone: (604) 357 4790
Phone: (604) 357 4790

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing of the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, titlefuture driling actiivities and the locations of such drilling, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

SOURCE: Group Ten Metals Inc.

Tags Group Ten Metals, maurice jackson, Metallic Group of Companies, Michael Rowley, proven and probable, Stillwater West

Base Metals Energy Exclusive Interviews Junior Mining

Copper Bullet Mines – Copper is the New Oil

Post author By admin
Post date July 20, 2021

Maurice Jackson: Joining us for a conversation is Dan Weir, the CEO of Copper Bullet Mines.

It is a pleasure to be speaking with you today to discuss the opportunity before us in Copper Bullet Mines. Before we delve into company specifics, Mr. Weir, please introduce Copper Bullet Mines and the opportunity the company presents to shareholders.

Dan Weir: Copper Bullet Mines is a new company we plan to take it public in the next 12 months. It’s run by a bunch of experienced mining guys. We have currently three geologists involved in the company. We have multiple engineers, mining engineers, metallurgical engineers, process engineers, guys that know how to mine. We have decided to focus on the Western United States.

Maurice Jackson: This may very well be the “Golden Age for Copper,” as many believe that copper is the new oil. Mr. Weir, please provide us with an overview of the supply and demand of copper.

Dan Weir: Yes, it’s very interesting. You’ve got Goldman Sachs and several companies have come out; Goldman Sachs uses the term “copper is the new oil.” If you look at a comparison, a combustible gasoline or diesel-burning vehicle has about 48 pounds of copper in it, but a Tesla or an electric vehicle has 183 pounds of copper in it. So, you can see here that it can be four, five times as much copper in an electric vehicle. So that’s just one aspect of it. Let alone the fact that we have to go across all over around the world building stations to recharge our electric vehicles, and our houses are all wired with copper wiring. More and more people are putting solar panels on their house. That means more wires, more copper is needed for that. Again, I look at Africa and only about 50% of Africa has electricity to people’s homes. That’s being built out as we move along. Other people call this is the “golden age for copper,” and I agree 100%.

Maurice Jackson: The value proposition of copper is quite compelling. Now, it’s early days for Copper Bullet Mines as the company’s currently private looking to go public. How does Copper Bullet Mines plan to meet the global demand for copper?

Dan Weir: We plan to focus on the western region of the United States. Currently, we are in what we call the copper triangle, which is in Arizona. Last month we purchased our first project the Copper Springs Project, which took about six months to put it all together. And that first project has historical resources, but we’re also looking for other assets. We are currently right now bidding on some producing assets. I can’t get into any details on those right now because we’re under confidentiality agreements, but we are looking for those types of assets, near-term type producing assets or producing assets, or something that has historical resources that we can bring up to a new resource by twinning holes. So, our focus and what we really would want to do is buy producing assets.

Maurice Jackson: Let’s go on site and find out more. Sir, take us to the “Copper Triangle” of Arizona and get us acquainted with the Copper Springs Project along with some of your neighbors.

Dan Weir: The Copper Springs Project is in the Copper Triangle, which is about one hour east of Phoenix. Some our neighbors in the Copper Triangle are the largest mining companies in the world, such as Rio Tinto, BHP, KGHM, Capstone and Asarco, which is owned by Grupo Mexico, and Freeport-McMoRan. We are surrounded by some of the largest mining companies in the world with mines in this area or are building a mine. And what I mean by building a mine, as an example, Rio Tinto and BHP, are spending billions of dollars to build the Resolution Mine. It will be one of the largest copper mines in North America when it’s completed. The Copper Springs Project is less than 12 kilometers away from the Resolution Mine.

Just to the north of us is Freeport-McMoRan. It has a copper smelter. There are only currently three, well, sort of three large copper smelters in the United States and one smaller one. Two of them just happened to be in the Copper Triangle, one with Freeport, just north of us, and the second at the bottom of the triangle owned by Asarco, and it’s called the Hayden Smelter. That smelter is being shut down. In the near future, the United States, is only going to have two full-sized copper smelters. One here, one up at Bingham Canyon in Utah, and then a small one in the Texas area. The Copper Triangle is probably the premier place in all of North America where you’re seeing copper production. And guess what? We’re right in the heart of the Copper Triangle.

Maurice Jackson: The Copper Springs is a shallow enrichment mineralization project with the historical resource, which is currently non-compliant to 43-101 standards. Provide us with some context and what is the plan moving forward to become 43-101 compliant?

Dan Weir: Over the last 50 to 60 years, there have been many different groups who have owned this project or optioned this project and have gone in and drilled at calculated resources on the Copper Springs Project. Companies like Kerr-McGee, Humble, American Copper, and most recently in around 2010, there was a small junior company called Toro Resources that had the project. And I must add to that, they had parts of the project. It wasn’t until I was able to come in here and put all of the claims together in this area. There were three groups that I had to work with. The groups had the claims. They had a package of eight claims that sat right in the middle of the claim block, and they have owned these claims since 1924. Their great grandfather had staked them, owned them in the family all that time. And this is the first time since the ’50s that this project has all been put together with all these claim packages under one option.

I’m not trying to pat myself on the back too much, but it was a lot of work, and it’s been a great experience putting this whole package together. Thus we now have a claim package of 126 claims over 2,600 acres. Our claim package that has had worked done over the years by some very large companies. Anglo-America recently visited the project in the last number of years. They say that this thing has huge potential, that we could be looking at similar to some of the others in the Copper Triangle, like Pinto Valley.

I’m not saying that that’s what we’re going to get. I believe from the data that we’ve looked at that we have a historical resource now, with 40 million tonnes grading around the 0.4% range. I’ve read several reports. Again, I can’t guarantee this, that there is potential here to be sort of 100 to 200 million tons. Let’s put that in some perspective. Even if we have 40 million tonnes and we have success twinning the historical holes, 40 million tonnes grading 0.4% is about 320 million pounds of copper.

The price of copper recently went up to the $4.60, $4.70 range. It’s pulled back in a little bit, but let’s use $4. It’s currently trading I think today at $4.25. Let’s call it $4. Multiply $4 times 320 million pounds of copper, you’re somewhere around $1.2 to $1.3 billion worth of copper sitting on this property right now. Now, again, there’s a lot of work to do. We’ll have to figure out recovery rates. We’ll have to figure out all sorts of things that go along with that. But I’m just throwing some big numbers out here because it does have some historical resources on here, and we believe that those historical resources are good. Again, until we do the drilling on here and twinned a bunch of these holes and bring it up to 43-101 standards, and do wish to be responsible with my words, these are just hypotheticals at the present.

Maurice Jackson: Sticking with the historical resource, please walk us through some of the historical drill locations.

Dan Weir: As I mentioned, several different groups drilled over time, including Kerr-McGee, Phelps Dodge, some different groups have kind of come in and out of this project. Some people will look at a project and go, “Well, these guys drilled and they didn’t find anything.” Well, they did find a lot. You talk to certain geologists or people that had been around the mining industry for a long time and one discovers that to put a project into production, there may have been about five or six junior companies, maybe a couple of larger companies that have done all of the resource studies and looked at it at so many different ways, and then you’re likely going to have one or two guys before it goes into production.

It’s very typical of these types of projects that you have multiple different people over time that will pick up claims. They’ll do some drilling, maybe they ran out of money, maybe the copper price dropped, all sorts of things. But I can tell you that in this area, as I mentioned, I’m the first one since the 1950s that’s been able to put this whole package together, and we have a lot of the old data that we can go on model, go back and drill and build a resource on the back of that.

Maurice Jackson: What can you tell us about the genetic and the exploration model?

Dan Weir: Another great thing is around 2011, several people went out and mapped the Copper Springs Project. We have talked to the geologists and some of them are PhD-type geologists who have gone out and done a lot of mapping on this project. Most of the work has been done in one area. There’s a massive area sort of on the east side of the deposit that has huge potential. And these guys have gone out and done a bunch of the mapping and again agree that there’s massive potential. And there has been very little activity on the east side of the deposit. The non-compliant historical was produced mainly from the west region of the deposit of 40 million tonnes grading about 0.4%, but there’s been very little work done on three-quarters of the project. We are confident that these is a much larger potential before on the Copper Spring Project. And again, I can’t guarantee this. I do believe that we can get too much higher numbers than 40 million tonnes.

Maurice Jackson: To coincide with mapping, I see that a geophysics study was completed in 2007. Now, will this suffice for a drill targeting, or is there a plan to conduct another survey, or do you plan to twin the historical holes?

Dan Weir: Yes we will twin some of the holes. We will do a lot more geophysics over the property. You can see from some of the maps, it was only done in the one area where they did most of the drilling. We do want to go back in here and want to do a lot more geophysics over that. Geophysics is a cheap way to do exploration. Remember that drilling is very expensive, so anything that you can do to pinpoint where you want to put those drills helps the geologists pinpoint exactly where we want to put the drill in the ground.

Maurice Jackson: Let’s discuss some important topics germane to your project. Are you fully permitted?

Dan Weir: The simple answer is no. There’s a lot of work to do over the next couple of years on here. We have to go out and get permits from the BLM [Bureau of Land Management] and the Forest Service to begin our drill program of twinning the holes. That should take to get the drill permits about six months. But as we’re applying for those permits, we can be doing a lot of the mapping work, IP work, as we decide exactly where we want to drill those holes. There’s lots of work to do here.

One thing I’m going to add here, Maurice, I mentioned earlier that we’re looking at buying some other properties, producing mines, one of them in Arizona. If we’re able to buy one of those mines, it’s close enough that we think we can just truck the ore from this property over to the operating mine, and utilize a lot of the infrastructure there. And it’s fully permitted and is in production. If we can take some of the ore from here and move it over to a producing mine, it should expedite the permitting process from the Forest Service to start mining because you’re not having to worry so much about leach pads and other things. Again, I can’t guarantee that that’s exactly what’s going to happen, but it is one model that we’ve been looking at.

Maurice Jackson: Is the Copper Springs Project 100% owned?

Dan Weir: We have optioned the project. It is an eight-year option process in which we have annual full cash payments, which most of the financing is backend loaded. So, from the first number of years, they are not onerous. And we have to do a certain amount of exploration work on the project. It is a great deal for us to move forward on this.

Maurice Jackson: What are the company’s goals and what strategy will the company use to accomplish its stated goals?

Dan Weir: I used to work for a brokerage firm on Bay Street or Wall Street for several years. I spent 12 years working at one of the top brokerage firms in all of Canada. When I left that firm, I spent another three years running the institutional sales desk for another firm. I have experience working on Bay Street or Wall Street and have been involved in financing mining companies.

One of the companies that we did a lot of work with, and I can remember doing the IPO for it in 2004, was a company called Quadra. When Quadra started, they bought one mine in Nevada called the Robinson Mine. They then took some of the cash flow that they were doing from that mine and then expanded out and started buying all sorts of other mines, not only the U.S. and into Chile. Then they went and bought another full company called FNX Mining. Maybe many of the people that will read this will remember Quadra or FNX. Ultimately, they sold it to a Polish company called KGHM for $2.5 billion. I’m not saying that we can do that, but that’s the type of model that we want to work on for this company.

I would love to be able to buy an operating mine. Again, as I said, we are bidding on several assets that are currently in operations, or that mines are in operation. If we can take that cash flow and everything else from that and start to build a company out, that’s really what I want to do. My chairman of the board is a gentleman named Daryl Hodges. He is a geologist. He worked all over the world for Falconbridge, including places like Norilsk in Russia looking for nickel, copper. He understands and gets that he and I are aligned; that’s what we want to build in this company. We want to buy assets that are in production or close to production. We also want to have some exploration plays like Copper Springs, the first one that we bought here, and grow and build a company. That is exactly what we want to do.

Maurice Jackson: We’ve discussed the good. Let’s address the bad. What can go wrong and what are your action plans to mitigate that wrong?

Dan Weir: We all know, anybody in the mining business, that mining is very cyclical. There can be ups and downs. I believe that the copper cycle here is going to be here for quite a while. Number one, because as we start to electrify more and more of the world, you’re going to see the demand for copper continue to increase. As we buy and drive more and more electric vehicles, you’re going to see big copper demand increase. In a lot of places in the world, Chile, as well as others, the copper grades continue to fall off at most of the mines around the world. Us focusing on places like Arizona to mitigate some of the risks, even Chile that produces most of the copper in the world is considering increasing some of its royalty rates. You’ve got Peru. They’re going through an election cycle here right now. We don’t know exactly what’s going to happen.

Peru and Chile produce the majority of the world’s copper. Therefore, we are focusing on places like Nevada and Arizona. Now, could things change in the United States? Could it get more difficult to get permits? That is always a risk. But I believe, and even if you look at the Fraser Institute, they rate the top two jurisdictions in the world to look at mining are Nevada and Arizona. And that is exactly where we want to focus, right in the heart of the Copper Triangle in Arizona. One hour outside Phoenix with infrastructure, with people that know mining, understand mining, and we can work and get highly skilled people. It’s a huge opportunity for us. But again, you’ve got to look at cycles, and mining can be very cyclical so that can cause big problems.

Maurice Jackson: Speaking of high-skilled people, Mr. Weir, please introduce us to your board of directors and management team, and what skill sets do they bring to Copper Bullet Mines?

Dan Weir: I mentioned earlier, Mr. Daryl Hodges. I mentioned earlier, too, that we have three geologists working with us; Daryl, we have another advisor to us, a gentleman named Herb Deurr. Herb is involved in some other junior publicly traded companies here in Canada. He lives in Reno. He is a prospector and a geologist and a brilliant guy. He has claims all over the United States, and even Puerto Rico. He’s been developing a project there as well. I’ve got engineers, like Keith Minty is a guy that built up North American Palladium, which now has been bought by Impala. We have Rich Warner as an advisor. He lives in Zurich. He’s Canadian, but lives in Zurich, works for some very high-end companies over in the Zurich area, and knows the mining industry, has worked in the mining industry all his life.

And again, our board right now, we have Doug Harris. He’s an accountant. He’s also the CFO of three other junior mining companies. So, we have the people. We also recently picked up another geologist who was the chief geologist of a mine in the Globe Miami area, right in the heart of the Copper Triangle. We have been talking to several permit experts that will likely come on board with this as we move forward here, too. We have been able to put together an absolutely amazing team who understand copper, who know copper, who have built mines, who have built processing plants, are PhD-type guys in metallurgy and metallurgical engineering. We have an amazing group of people that know how to do this.

Maurice Jackson: Who is Dan Weir and what makes them qualified for the task at hand?

Dan Weir: Again, as I mentioned, I spent several years working on Bay Street/Wall Street. I’ve spent the last 10 years working for mining companies. I’ve been on the board of directors of zinc and copper companies. I’ve been around the mining industry. I know the mining industry, but I also know that I’ve got to bring the right people with me. So, I see myself more of as a conductor of an orchestra in bringing all the right people together. I’m not a geologist, but I know a little bit about geology. But I know that I’ve got to bring the right people around me, the engineers, and everybody else to put this all together. So, we have a bunch of guys that are very hardworking, willing to roll up their sleeves, and have a lot of experience in the mining industry. And I consider myself one of those people as well.

It’s going to be interesting over the next couple of months as we go through the bidding process on some of these production assets, but right now we want to raise a million dollars as the seed round and then we will likely raise money at much higher prices.

Maurice Jackson: Mr. Weir, for readers who want to get more information on Copper Bullet Mines, please share the contact details.

Dan Weir: I may be reached at 416-720-0754. Or you can email me anytime at danweir@bulletmines.com.

Maurice Jackson: Last question, sir, what did I forget to ask?

Dan Weir: Well, Maurice, in some of the last projects that you and I have worked on together, you’ve traveled down to see some of the deposits. I think the next thing for you to do is come on down to Arizona and let’s go see the property because I’m sure you’re going to be very, very impressed with the property and the area inside the Copper Triangle. Seeing some of those smelters and some of the producing mines in the area, I think you’ll be very, very impressed. So, you know what? Ask me to get you on an airplane and get you down there, and over the next month or so, we will do that.

Maurice Jackson: Mr. Weir, it’s been a pleasure speaking with you today. Wishing you and Copper Bullet Mines 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.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Tags Copper Bullet Mines, Copper Springs Project, Copper Triangle, Dan Weir, investing in copper, Investinginbasemetals, Investinginenergy, maurice jackson, proven and probable

Energy Exclusive Interviews Junior Mining Precious Metals Project Generators Uncategorized

Riverside Resources – Property Bank Loaded with Copper and Gold

Post author By admin
Post date July 20, 2021

Tags #InvestingInMexico, BHP, Erika Sweeney, investingincopper, john-mark staude, maurice jackson, proven and probable, riverside resources

Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside to Receive US$5,400,000 in Additional Funding from BHP to Advance and Drill Copper Projects in Sonora, Mexico

Post author By admin
Post date July 15, 2021

Vancouver, British Columbia–(Newsfile Corp. – July 15, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is pleased to announce that an additional US$5,400,000 in exploration funding is being granted to advance four (4) previously generated copper projects as part of the expanding copper exploration program with BHP in Sonora, Mexico (see Figure 1 below). This new funding of at least US$5,400,000 is in addition to the US$1,300,000 allocated for the next generative phase of exploration work, which began two months ago on May 15^th, 2021. Program funding highlights for the new project-focused funding are summarized below:

Drilling funding has been allocated for the Chuin Project, including an initial 4,500 metres (“m”) of drilling to test three geophysical centres within the Chinalito Target area.
Drilling funding budgeted for the Palofierro Project, including 4,500 m stratigraphic core drilling to cut bedrock beneath post-mineral cover and test for Laramide aged porphyry potential.
Geophysics funding designated for a close spaced MT (Magneto-telluric) Survey at Sinoquipe, designed to uncover conductive bodies (i.e., potential porphyry copper deposits) underneath post-mineral conglomerate cover.
Geophysics funding budgeted for a broadly spaced MT Survey and geophysical targeting at Peñitas which will lead toward drill targeting.

The permitting process for drilling at Chuin and Palofierro is already underway. The MT Survey’s at Sinoquipe and Peñitas are expected to commence after contractors are secured and the results from the deep geophysics work has the potential to lead to further drilling programs based on results.

Riverside’s President & CEO, John-Mark Staude : “We are pleased to work closely with BHP’s geoscientists and their exploration group as the porphyry copper targets we have identified continue to progress towards drilling. These projects and corresponding exploration campaigns expose our shareholders to incredible upside and catalysts that have the potential to create significant value for the Company. Riverside and BHP recently completed a weeklong technical field trip, which culminated with the approval by BHP of this additional US$5.4Million in exploration funding. In total, the additional budget allocation brings Riverside’s 2021 funding for copper exploration to over US$6.7M. We see excellent potential for continued growth in the well-endowed and under-explored southern extension of the Arizona-Sonora world class porphyry copper belt.“

These four projects include the previously highlighted: Chuin, Palofierro, Sinoquipe, and Peñitas properties (see press release dated June 21, 2021). The projects have now been approved for full funding to move toward drilling on the Chuin and Palofierro projects and deep geophysics on the Sinoquipe and Peñitas projects which would lead toward additional drill decisions in the near future and will be ongoing for a third consecutive year (see press release dated May 27, 2021). Sinoquipe and Peñitas will be progressed with geophysical studies similar to those done at Chuin and Palofierro where BHP and Riverside are preparing targets for upcoming drill programs.

Figure 1: BHP Riverside Exploration area for copper and portfolio of projects owned by Riverside and BHP/Riverside Program

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/90274_50996a00340618d1_002full.jpg

Program Details:

Chuin Project: Funding of 4,500 m of core drilling to test the main Magneto-telluric (MT) anomalies discovered through last year’s funding. This first phase of drilling is focused on 3 geophysical centers identified at the Chinalito Target, which if successful could trigger an expanded drilling program as a Defined Project (“DP”) as outlined in the reference terms of the Exploration Funding Agreement (“EFA”). Environmental permitting for drilling is being progressed. Chinalito remains the priority copper target for Riverside.
Palofierro Project: Funding of 4,500 m of stratigraphic core drilling to probe bedrock beneath the post-mineral units and evaluate the basement geology for Laramide style porphyry Cu potential to the east of the Opodepe Mo-Cu porphyry district and west of exposed high sulfidation and upper-level porphyry copper geology where the Riverside-BHP target area is covered by post-Laramide gravel. This target area is defined by combining gravity survey results with geological mapping of the margins of the Rayon, Sonora Tertiary pediment, with the Company having found positive indicators for potential porphyry system at the margins of the basin and exploration data vectoring toward underneath the post-mineral cover. Environmental permitting for drilling is in progress.
Sinoquipe Project: Funding of an extensive and close-spaced MT survey which includes over 250 stations and is expected to start in late July 2021 pending weather and contractor availability. The interpreted target at Sinoquipe is a porphyry copper system projected under varying thickness of post-mineral conglomerate and possibly some Tertiary volcanics, where both margins of the basin show compiled geological evidence that indicates large potential for porphyry copper underneath the gravels. The purpose of this survey is to find conductive bodies that will potentially turn into drill targets in the coming months. This work builds on the 2021 field programs of sampling, mapping and targeting that remain on-going.
Peñitas: Funding of an open-spaced MT survey that comprises 150 stations to cover multiple target areas already identified with geological mapping and geochemical sampling. Similar to Sinoquipe, Peñitas has multiple targets that are projected under post-mineral cover and the aim of the survey is to detect large conductive bodies that would eventually generate geophysical drill targets.

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the BHP Exploration Financing Agreement 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.

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 72M 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

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
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.

Tags #InvestingInMexico, InvestinginSonora, john-mark staude, maurice jackson, proven and probable, riverside resources, RRI

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