Category: Energy

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Energy Junior Mining Oil & Gas

EQUITY.GURU Podcast: Jericho Oil (JCO.V)

Jericho Oil (JCO.V) spent the last five years securing distressed assets in the state of Oklahoma, a state which produces 16% of America’s total crude output.
Oklahoma also plays host to the lucrative Sooner Trend Anadarko Basin Canadian and Kingfisher counties (STACK) play.
The oil market continues to run rough with WTI Crude prices settling at $56.97 per barrel, down 22% from $73.03 back in September 2018.
Brian Williamson, Jericho CEO, said he feels that even with the depressed market, Jericho still has a chance generating profitable production rates from the company’s highly-prospective unconventional oil plays.
Equity.Guru’s Chris Parry spoke with Brian to get the lowdown on Jericho, its Oklahoma STACK assets and what lies ahead for 2019.

Listen in!
Original Source: https://equity.guru/2019/02/27/equity-guru-podcast-jericho-oil-jco-v/

Check out our Podbean site and iTunes channel for more great content!

Full Disclosure: Jericho Oil is an Equity.Guru marketing client.

Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.

Categories
Energy Oil & Gas

JERICHO OIL Announces 33% 2018 Total Production Growth

Company Production Hits an All-Time Yearly Record, Reduced Operating Expenses by 30%

TULSA, Okla., Feb. 28, 2019 (GLOBE NEWSWIRE) — Jericho Oil Corporation (“Jericho”) (TSX-V: JCO; OTC PINK: JROOF) announces that preliminary 2018 full-year partnership production totaled approximately 297,000 barrels of oil equivalent (“BOE”) up 33% from 2017 full-year partnership production of 222,000 BOE. The Company’s 2018 partnership production is an all-time yearly high.

In addition to record production, the Company continued to drive down production operating expenses with an approximately $17.00 / BOE cost in 2018, a reduction of 30% from the last year. A combination of lower absolute expenses and efficient production growth from our STACK asset produced outstanding per unit results for Jericho shareholders further demonstrating the dedication of our team and the quality of our world-class STACK asset.

In 2019, Jericho is committed to maintaining balance sheet and capital spend flexibility (with low leverage and a prudent hedging program), allocating capital based on strategic and rate-of-return metrics, prioritizing the Company’s high-return STACK asset and potential acquisition opportunities near our concentrated position. A continued improvement in commodity prices through the remainder of Q1 2019 will see Jericho move back into a development mode and also accelerate its return to production program for shut-in wells in its existing fields.

Industry activity has focused on the low-cost, high-return Osage and Meramec formations within the STACK play of Oklahoma. Deep-pocketed public operators including ExxonMobil, Chesapeake Energy, Sandridge Energy and Chaparral Energy continue to put considerable capital resources in and around Jericho’s largely held-by-production STACK acreage position. To-date, the Company has participated in multiple successful STACK wells with many of our offset operators, gleaning valuable information that drives our confidence in the underlying value of our investment.

“These outstanding and record results confirm our 2018 strategy to successfully prove and develop our premier STACK acreage position,” stated Brian Williamson, CEO of Jericho Oil, adding, “the resulting production growth provides our shareholders confidence in the exceptional quality of our high-impact STACK resource. Looking forward to 2019, we are excited in our unique ability to drive further competitive performance through the quality of our investments and our capital and operating discipline. While we are pleased with our 2018 results, we were just starting to see our patience be rewarded as we began to drill our STACK asset, return existing shut-in wells to production and move to develop some of our other high potential assets when oil prices turned down 40% in the end of 2018. We are hopeful that oil prices will continue their upward trend and provide us the opportunity to expand upon 2018’s success.”

In addition to Jericho’s steady base of low-decline production, its STACK JV has an interest in four currently producing Osage and Meramec formation wells.

Jericho also announces that effective March 1, 2019, Brian Williamson, CEO, assumes the additional position of President and Ben Holman, CFO, assumes the additional position of Secretary. The roles of President and Secretary were previously held by Allen Wilson, Jericho’s founder, who continues with the Company as a director, consultant and shareholder.

About Jericho Oil Corporation
Jericho Oil (www.jerichooil.com) is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko basin STACK Play of Oklahoma. Jericho’s primary business objective is driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves. Jericho has assembled an interest in 55,000 net acres across Oklahoma, including an interest in ~16,000 net acres in the STACK Play. Jericho owns a 26.5% interest in STACK JV.
Jericho’s current operations are focused on the oil-prone Meramec and Osage formations in the STACK. The Jericho team applies advanced engineering analyses and enhanced geological techniques to under-developed resource areas.
Jericho, with operational headquarters in Tulsa, Oklahoma, trades publicly on the TSX Venture Exchange (JCO) and OTC Markets (JROOF). Jericho owns its net acre position in Oklahoma through, and participates in the STACK JV through, one or more wholly owned subsidiaries.
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho’s expectations include risks related to the exploration stage of Jericho’s project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

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.

CONTACT:
Adam Rabiner,
Director, Investor Relations
1.800.750.3520
investorrelations@jerichooil.com

Categories
Base Metals Energy Junior Mining Project Generators

RIVERSIDE RESOURCES INC. Increases Private Placement Due to Investor Demand

GlobeNewswire

THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

VANCOUVER, British Columbia, Feb. 27, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (the “Company” or “Riverside”) (RRI.V) is pleased to announce that the Company has received exceptionally strong investor interest and intends to increase its previously announced non-brokered private placement (see press release February 13, 2019) by an additional $800,000. Riverside now plans to raise up to $2,300,000 in gross proceeds from the issuance of 14,375,000 units at a purchase price of $0.16, up from the original $1,500,000 target.

Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22 (“Warrant”). If, at any time after four months following the closing of the private placement, the closing price of the common shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.

The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships. The Company may pay finders fees in cash or Units to qualified finders of up to 8.0% of the aggregate gross proceeds realized from subscribers identified by the finder. The closing of the private placement is subject to TSX-V approval.

The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons without United States federal and state registration or an applicable exemption from registration requirements.

About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The Company has 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone:  (778) 327-6671
Fax:  (778) 327-6675
Web:  www.rivres.com		 Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671 ext. 312
TF: (877) RIV-RES1 ext. 312
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”, “estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

Categories
Base Metals Energy Junior Mining

NEVADA COPPER Construction and Financing Update – Pumpkin Hollow Remains On Schedule to Enter Production in Q4, 2019

VANCOUVER, British Columbia, Feb. 22, 2019 (GLOBE NEWSWIRE) — Nevada Copper Corp. (NCU.TO) (“Nevada Copper” or the “Company’’) is pleased to confirm that its Pumpkin Hollow underground copper project (the “Underground Project”) remains on target to commence production in Q4 2019 and wishes to provide an update on recent operations progress, financing discussions and exploration activity.

HIGHLIGHTS

  • Operations update:
    • Underground project construction progressing on budget and on schedule for first production targeting Q4 2019
    • New technical report, including the open pit project pre-feasibility study, well-progressed with completion targeted for end of Q1 2019, and ongoing focus on capital efficiency and IRR maximization
  • Exploration update:
    • Regional survey work has led to new prospects being identified and the Company has subsequently staked approximately 5700 acres of unpatented claims, expanding the Pumpkin Hollow property by 32% to the east
  • Financing update:
    • Discussions well underway regarding ECA-backed project finance facility to further optimize its balance sheet for the long-term
    • Working capital facility and offtake arrangements also in progress

Matt Gili, Chief Executive Officer of Nevada Copper, stated, “We are very pleased that construction at Pumpkin Hollow remains on target for entering production in the fourth quarter of this year.  As highlighted by our solid progress, our team is performing extremely well and we now have 250 employees, contractors and subcontractors active on site. In addition, we are continuing to execute on our longer-term development plans and have significantly expanded our mineral claims area to the east via staking.”

OPERATIONS UPDATE

As at mid-February, with approximately 250 employees, contractors and subcontractors on site, the construction of the Pumpkin Hollow Underground Project is progressing on schedule, including:

Underground Works – consisting of the production shaft and shaft stations (east main shaft), the ventilation shaft (east north ventilation shaft) and lateral development.

  • East Main shaft utilities installation completed ahead of schedule
  • Lateral development on the 2850 level and 2770 level have advanced 322ft and 182ft respectively (exclusive of shaft station)
  • East North Ventilation Shaft surface infrastructure is complete and shaft sinking has advanced to 150ft

Surface Works – consisting of processing plant, dry stack storage and all other surface facilities.

  • Earthworks complete for the primary dry stack facilities
  • Concrete foundations for the grinding and cyclone areas are well underway

The previously announced new technical report, including the open pit project pre-feasibility study, is well progressed with targeted completion by the end of Q1 2019. The Company continues to apply its philosophy of focusing on capital efficiency and IRR-maximizing staged development.

EXPLORATION ACTIVITY UPDATE
Regional survey work has led to new prospects being identified and the Company has subsequently staked approximately 5700 acres of unpatented claims, expanding the Pumpkin Hollow property by 32% to the east. The staked claims appear to have good porphyry-style alteration and copper mineralization at surface. The Company is currently mapping and sampling the newly-acquired claims area, in addition to following-up on additional areas of high-grade surface skarn mineralization on its property.

ENVIRONMENTAL & COMMUNITY ASSESSMENT UPDATE

As part of its ongoing commitment to community engagement the Company has recently prepared an updated Environmental and Community Assessment Summary which provides information on the studies that have been performed and the permits and authorizations in place to protect the environment and address any community-related issues. This report is available on the website at www.nevadacopper.com under the Community heading.

FINANCING UPDATE

The Company is continuing discussions with potential export credit agency-backed project finance lenders with the objective to further optimize its balance sheet for the long-term. Such discussions may provide the opportunity to substantially reduce the cost of the Company’s debt service and attract strong finance partners for potential future open pit development. Discussions are also ongoing relating to associated agreements to complement such a project finance facility, including a working capital facility, and should it be required or preferable, other financing, such as a standby/overrun facility, as well as offtake arrangements.


EN Ventilation Shaft Surface Infrastructure Completed and in Use

Sag/Ball/Verti Mills and Cyclone Foundations well Advanced

Caterpillar R1600 Loader being installed on the 2850 Shaft Station

January 15, Site Construction Progress including East Main Headframe

Qualified Persons

The information and data in this news release was reviewed by David Swisher, P. E., VP of Operations for Nevada Copper, who is a non-independent Qualified Person within the meaning of NI 43-101.

About Nevada Copper

Nevada Copper’s (NCU.TO) Pumpkin Hollow project is the only major, shovel-ready and fully-permitted copper project in North America that is currently under construction. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully-permitted projects include: the high-grade Pumpkin Hollow underground project which is in construction with a view to commencement of copper production in Q4, 2019; and the Pumpkin Hollow open pit project, a large-scale copper deposit.

Additional Information

For further information please visit the Nevada Copper corporate website
(www.nevadacopper.com).

NEVADA COPPER CORP.

Matthew Gili, President and CEO

For further information call:

Rich Matthews,
VP Investor Relations
Phone: 604-355-7179
Toll free: 1-877-648-8266
Email: rmatthews@nevadacopper.com

We Seek Safe Harbour

Photos accompanying this announcement are available at:

http://www.globenewswire.com/NewsRoom/AttachmentNg/7e68aff1-3344-4ef1-890d-b071ec75ec7e

http://www.globenewswire.com/NewsRoom/AttachmentNg/e307abde-6c27-469f-a3ff-97165db3d5e6

http://www.globenewswire.com/NewsRoom/AttachmentNg/8cfba60e-9467-4072-867a-36003d3749e0

http://www.globenewswire.com/NewsRoom/AttachmentNg/5bc2b941-945c-4118-9b02-c3a71925c2d1

 

Categories
Base Metals Energy Junior Mining Project Generators

EMX ROYALTY Acquires Further Shares and Warrants of Boreal Metals Corp.

Vancouver, British Columbia–(Newsfile Corp. – February 21, 2019) –  EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX)  (the “Company” or “EMX”) is pleased to announce it has acquired ownership of 1,995,672 common shares (representing 2.63% of the outstanding shares) and warrants to purchase an additional 1,995,672 common shares of Boreal Metals Corp. (“Boreal“; TSX-V: BMX). The acquisition was made pursuant to a private placement of units, each unit consisting of one common share and one warrant to purchase a further common share, at a price of $0.095 per unit (for a total investment of $189,589 by EMX), which closed today.

Immediately prior to the acquisition, EMX had ownership of 5,530,063 common shares (representing 9.4% of Boreal’s outstanding common shares). Immediately following the acquisition, EMX had ownership of 7,525,735 common shares (representing 9.9% of Boreal’s outstanding common shares) and warrants to purchase an additional 1,995,672 common shares. If the warrants were exercised, EMX would have ownership of 9,521,407 common shares (representing 12.20% of Boreal’s outstanding common shares).

The shares and warrants were acquired for investment purposes under the prospectus exemption set out in section 2.3 [Accredited investor] of National Instrument 45-106 Prospectus Exemptions of the Canadian Securities Administrators. Presently, EMX does not have any intention of acquiring any further securities of Boreal but may acquire ownership of or control over further securities in the future depending upon market circumstances.

EMX has filed an Early Warning Report with the British Columbia, Alberta and Ontario Securities Commissions in respect of the acquisition. Copies of the Report may be obtained from SEDAR (www.sedar.com) or without charge from EMX’s Corporate Secretary, Lori Pavle (604-688-6390).

About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

The recent advancements of the Company’s asset portfolio underscore EMX’s focus on steadily increasing global revenue streams from strategic investments, royalties, and other payments. The Company’s goal is to substantially grow our cash flowing royalty portfolio while providing multiple opportunities for exploration and production success.

-30-

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email:SClose@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral 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” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

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Maurice

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Categories
Base Metals Energy

URANIUM ENERGY CORP. Receives Radioactive Material License for the Burke Hollow ISR Project in South Texas

Uranium Energy Corp Receives Radioactive Material License for the Burke Hollow ISR Project in South Texas
Corpus Christi, TX, February 20, 2019 – Uranium Energy Corp (NYSE American: UEC, the “Company” or “UEC”) is pleased to announce that the Texas Commission on Environmental Quality has issued the Radioactive Material License for the Burke Hollow Project, completing the last of the four major permits needed for uranium extraction. The Burke Hollow Project will be developed as part of the Company’s hub-and-spoke strategy, designed for low-cost in-situ recovery (“ISR”) of uranium with final processing to occur at our nearby and fully permitted Hobson Plant.

Craig Wall, Vice President Environmental, Health & Safety, stated: “This accomplishment is extraordinarily rewarding for the UEC team, despite very challenging conditions in the uranium sector over the past six years. We’re excited to advance Burke Hollow toward becoming a modern, low-cost and environmentally friendly ISR operation.”
Amir Adnani, President & CEO, stated: “The drilling and permitting advancements at Burke Hollow have positioned UEC to create the newest, near-term, production ready ISR project in the United States. We are in an optimal position to provide the U.S. a reliable and low-cost source of domestic uranium. The Company’s 2019 drilling campaign is scheduled to begin in early March and will consist of approximately 20 delineation holes and the installation of approximately 120 monitor wells to prepare for development of the Project’s first production area.”
The license boundary includes 5,385 acres, encompasses multiple production areas and authorizes construction of the satellite facility. In addition to the Radioactive Material License, the Burke Hollow Project now has an 11,000 acre Mine Area permit, approved in December 2016, two disposal well permits, issued in July 2015, and the aquifer exemption, issued in March 2017.
Amir Adnani  |  President & CEO
URANIUM ENERGY CORP
NYSE AMERICAN: UEC  |  www.uraniumenergy.com

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

(VIDEO) RIVERSIDE RESOURCES Prospect Generator Plans to Expand Jurisdictions


Dr. John-Mark Staude of President and CEO of Riverside Resources (TSX: RRI | OTC: RVSDF) sits down with Maurice Jackson of Proven and Probable to discuss the company’s successes in 2018 and the projected catalyst’s for 2019. Dr. Staude will provide updates on a number of fronts, new exiting opportunities that look into significantly increase shareholder value.

VIDEO

AUDIO

TRANSCRIPT

Original Source: https://www.streetwisereports.com/article/2019/02/19/prospect-generator-plans-to-expand-jurisdictions.html

Source: Maurice Jackson for Streetwise Reports  (2/19/19)

Maurice JacksonJohn-Mark Staude, president and CEO of Riverside Resources, talks with Maurice Jackson of Proven and Probable about successes in 2018 and the outlook for 2019.

Riverside Resources
Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude, the president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), where knowledge is golden. Dr. Staude, welcome to the show, sir.
John-Mark Staude: Thank you, Maurice.
Maurice Jackson: We brought you on today to highlight some of Riverside Resources successes of last year and the company’s outlook for 2019. But before we begin, for first time listeners who is Riverside Resources?
John-Mark Staude: Riverside is a prospect generator. We’ve been working for 12 years, finding projects and finding partners through the prospect generator business. We’ve been able to expose ourselves to great upside while limiting the downside risk.
Maurice Jackson: You referenced that you are a prospect generator. There’s a lot of ambiguity regarding prospect/project generators, therefore speculators often overlook them in their portfolio. What type of competitive advantages does a shareholder have with a project generator over traditional exploration companies?
John-Mark Staude: I think the first thing is you’ve got a tight share structure, key that other people are spending the money. The second is you get a lot of shots, multiple different projects going simultaneously. Third is you don’t have the management teams that have to continually go back and refinance, so they can be focused on discovery for the shareholders. Those three things make prospect generators one of the better ways to invest in mineral exploration.
Maurice Jackson: Let’s revisit 2018 and share some of the successes of Riverside Resources that will serve as catalysts for 2019.
John-Mark Staude: I think the first thing was that we were able to leverage off of our previous work on copper, so that in 2019 we’ll be able to generate new big strategic alliances. I think the second thing was we signed a letter of intent with Sinaloa Resources, and now in 2019 we’ll have the definitive agreement and the go forward drill program. I think a third thing was the work that we did on Cecilia. High-grade gold mineralization, very good geology. Now in 2019 we can see drilling. So we have lots of catalysts in 2019. We’re really excited about this coming year.
Map
Maurice Jackson: Speaking of 2019, let’s discuss the outlook for this year. What is new and what does Riverside Resources have planned this year?
John-Mark Staude: I believe one of the key things is a new strategic alliance. Getting a strategic partner will be awesome, and I think we have that in our sights. I think the second thing will be drilling. We have now got a definitive agreement progressing with Sinaloa Resources, and we’ll have additional new assets added into the portfolio. We’ll also diversify beyond Mexico. We’ve done well in Mexico, but we’ve also been successful previously in porphyry coppers in Canada and large gold systems in Arizona, and I think in 2019 we’ll again see us diversify beyond Mexico to capture great new opportunities.
Maurice Jackson: I want to expand further on the value preposition of Riverside Resources here. Germane to this discussion are the prices of gold, silver and copper. Twofold question. What are some of the catalysts you see that will change these prices, and what type of impact can we expect that this will have on Riverside Resources?
John-Mark Staude: One of the catalysts we see now is some of the uncertainty around trade and some of the uncertainty particularly in the gold price and with this gold price we actually see that has been rising up; that for us is excellent. We have gold assets in the ground, and gold potential to grow. So I think the gold will be a really key way to do this.
Maurice Jackson: Let’s be a little bit more specific for current and prospective shareholders. What type of competitive advantages does Riverside Resources have in the natural resource space included in this discussion with the prices moving?
John-Mark Staude: One of the competitive advantages we have is knowledge. We have knowledge, we have been able to find gold. We’ve been able to find copper. We’ve been successful. We’ve worked in this region and made discoveries that have then been built into mines. That’s a competitive advantage. The second is we’re all running. We’re in the position, we didn’t have to stop during the downturn times. We’ve been able to continually keep the same strong technical people. I know, Maurice, you’ve actually been out to site, other people come out to site. We can really demonstrate out on site the great development and ease to do the work. I think our turnkey ability has been shown by strategic alliances we’ve done in the past, and many projects we’ve been able to turn over. So in 2019, that creates great chance for catalyst rising gold prices, with potentially rising copper prices, with copper demand from electric cars, other copper usage. Riverside’s in an awesomely great position.
Maurice Jackson: Speaking of site visits, yes, I was there in April 2018 at the Cecilia, and I noticed there a lot of the intangibles that don’t show up on the balance sheet. Could you share some of those with us?
John-Mark Staude: I think one of the ones is relationships. When you come out to the site you can see how well we get along with the local people. I think the second is ease of access, you can see that we have the gate keys, we have the ease to get to the projects, paved roads into the area’s infrastructure. It’s so easy to look at a map, but in reality when you go out and see that you can drive on paved roads, when you have power lines, when you have water, when you have all of that stuff. I think the other intangible is our team. When you can see that we have the people in the back of our company that do the work for many other supporting groups, can really do a good work. Riverside has a sought-after team. I think those are in some of the intangibles that really make Riverside unique.
Maurice Jackson: Speaking of your team, a lot of them are seasoned in their tenure. Talk to us about how many years they’ve been with Riverside.
John-Mark Staude: Riverside’s been going 12 years and some of them been going with us ever since the beginning. Many of them have worked with me before Riverside. I used to work at Teck Resources, prior to that at BHP, and even prior to that back in the 1990s at Magma Copper, and some of these individuals that work with me today worked with me back then. We’ve been friends up to 30 years, and we’ve been able to be involved and we therefore we know we have trust, we know what we can count on, and we know we have the skills that deliver excellent projects, and the excellence to trust in what we’re doing.
Maurice Jackson: Speaking of Mexico, there’s a new president. What type of impact do you foresee the new administration having on Riverside Resources?
John-Mark Staude: It’s interesting, we were a bit concerned initially, back when the elections happened, hearing about socialist different movements and things, but really interesting, since December 1st when he’s been elected, it’s actually been pro capitalism, pro-development. There continue to be noises going back and forth about different issues, and they’ll have to get settled out. But we’re actually quite positive about the new president AMLO, and we’re also quite president about his words and efforts that he says towards helping develop favorability towards investments. So, we actually see that this new administration will be able to be a good push for the mining industry. We’re pretty pleased with what’s happening now.
Maurice Jackson: Switching gears slightly, to make the Riverside Resources project portfolio come to fruition, joint venture partners have to be willing to commit to projects. What is their current level of commitment that Riverside Resources is seeing right now?
John-Mark Staude: Right now, the first thing is the really big strategic alliance we have coming. Second is a drill program and funding with Sinaloa Resources. We’ll come up with the news release coming out quickly here as we finalize the definitive agreement, which we’ve not yet finalized, but we’ll get that done, and that’ll actually be a major program. We’ll also find that we have work on the copper, gold and silver assets, and we’re working on spinning out our transaction for one of our other properties. So, we actually see quite a few number of flows of capital coming in, and quite a few catalysts in 2019 due to the partner spending.
Maurice Jackson: You touched on it briefly, how does amalgamation fit into this narrative, and how realistic is the proposition of amalgamation?
John-Mark Staude: So at this point what we’re talking about is actually taking one of our assets into another company. We’ve been working on it now. Two aspects, one is the capital and the other is the other party, the ability and interest to be able to carry it forward. We’re working on that now, and I think it’s fairly realistic to do. It’s not something that we’ve put all of our eggs into, but it would be a great step for Riverside to give our shareholders another set of shares, another strategic way of increasing shareholder value. I think we have the right team on the other side. This will be a really exciting transaction going forward.
Maurice Jackson: John-Mark, what do you see as the biggest challenge for Riverside Resources, and how would you mitigate that situation?
John-Mark Staude: One of the big challenges is getting more partners in Mexico, and the way we’re mitigating it is by doing work again outside of Mexico, and by doing that we have our skills and we have Freeman Smith, our Vice President, Exploration, lives in Vancouver, knows the Canadian portfolios and Canadian assets, and we live in Vancouver, Canada, so it really fits for us to be able to diversify. That diversification really helps our shareholders as well. It helps us being in Mexico, and leveraging off of our knowledge in other places as well, using our skills. We’re in a great position for 2019.
Maurice Jackson: Let’s touch on the capital structure here briefly. John-Mark, Riverside has a proven record of being a good steward of capital. Remind us how many shares outstanding there are, enterprise value, and where does the company stand financially?
John-Mark Staude: Riverside has almost 45 million shares out, after going for 12 years. That’s remarkable. Financially, we have $1.5 million cash, and the market is actually very low right now. So myself, I’m buying more shares. We’re at a low in the market conditions right now, and I think there’s great upside right now. Our enterprise value is only $5 million. Our market cap is $7 million. We’re in a good situation to have a good leverage to the upside now.
Maurice Jackson: Last question. What did I forget to ask?
John-Mark Staude: Well, you always ask great questions. I think one of the other things is what do we actually see in the next news release? I think the next news release for us will be the signing of a deal. Signing of deals is great. Those are the momentum steps that we like. Also, the addition of a new asset. We’re excited by that. So I think we have two new things coming on, short term, that will really make a difference for Riverside.
Maurice Jackson: Dr. Staude, for someone listening that wants to get more information on Riverside Resources, please share the contact details.
John-Mark Staude: We’re at www.rivres.com, or give us a call at (778) 327-6671.
Maurice Jackson: As a reminder, Riverside Resources trades on the TSX, symbol RRI, and on the OTCQB, symbol RVSDF. As reminder, Riverside Resources is a sponsor of Proven and Probable, and we are proud shareholders of Riverside Resources for the virtues conveyed in today’s message. And last but not least, please visit our website, provenandprobable.com, where we deliver mining insights and bullion sales. You may reach us at contact@provenandprobable.com.
Dr. John-Mark Staude of Riverside Resources, thank you for joining us today on Proven and Probable.
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.

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Disclosure: 
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Riverside Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Riverside Resources is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
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4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article, until one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Riverside Resources, a company mentioned in this article.
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Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

EMX ROYALTY Receives Norra Metals Shares for Four Polymetallic Projects in Norway and Sweden

Vancouver, British Columbia–(Newsfile Corp. – February 19, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (“EMX” or the “Company”) is pleased to announce it has received 4,808,770 common shares of Norra Metals Corp. (“Norra”) (TSXV: NORA), representing a 9.9% equity stake in Norra. EMX acquired the shares pursuant to the sale of the Bleikvassli, Sagvoll and Meråker polymetallic projects in Norway, and the Bastuträsk volcanogenic massive sulfide (“VMS”) project in Sweden (the “Projects”), as announced in the Company’s news release dated December 13, 2018.

EMX will retain a 3% net smelter return (“NSR”) royalty on the Projects, as well as other consideration to the Company’s benefit. EMX has also been granted a 1% NSR royalty on Norra’s Pyramid project in British Columbia. The TSX Venture Exchange has approved the details of the transaction and transfer of the Projects from EMX to Norra, subject to customary final filings.

Norra Metals Corp. (previously OK2 Minerals Corp.) is a Vancouver-based exploration company with two projects in British Columbia’s “Golden Triangle”, as well as the four Scandinavian Projects acquired by Norra from EMX. Norra’s management team has considerable experience working in Scandinavia from previous ventures, and EMX will work closely with Norra to ensure timely advancement of the Projects in Scandinavia. Norra and EMX are in the process of obtaining work plan permits for the Projects, and expect exploration work will commence in early spring.

About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.

-30-

For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@EMXroyalty.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/42914

Categories
Base Metals Energy

NEXGEN Releases Results from Shaft Pilot Hole Report and Assays from the Development Drilling Summer 2018 Program

CNW Group

VANCOUVER , Feb. 14, 2019 /CNW/ – NexGen Energy Ltd. (“NexGen” or the “Company”) (TSX:NXE, NYSE MKT:NXE) is pleased to report geotechnical results for the initial shaft pilot holes and assays for all twenty-nine holes comprising 20,482.31 m , drilled during the summer development program on the Company’s 100% owned Rook I property, in the Athabasca Basin, Saskatchewan .

Highlights:

Shaft Pilot Hole Report  

NexGen Energy Ltd. retained SRK Consulting Canada Inc. to complete a geotechnical, hydrogeological, and thermal characterization to confirm the selection of a suitable location for the proposed shaft and facilitate a Feasibility Study (“FS”) level technical assessment related to the shaft pilot hole program. Additionally, DGI Geoscience Inc. completed a down-hole geophysics program to collect continuous data, in electronic format, of: sonic velocity, density, normal resistivity, natural gamma, spontaneous potential, mechanical caliper, and acoustic and optical scans of the borehole walls.

Three shaft pilot holes were successfully completed to a depth between 650 m and 702 m . The vertically drilled shaft pilot holes were kept within a 6.0 m diameter cylinder from surface through to their termination depths, intersected minimal structure and showed low hydraulic conductivity throughout via packer testing at regular intervals.

The shaft pilot hole geotechnical and hydrogeological conditions compiled in the Rook I Arrow Deposit Pilot Characterization Report will facilitate FS level engineering and design of two vertical shafts at the Arrow Deposit; one for exhaust air and one for production and fresh air.

  • Overburden / Sedimentary Geotechnical: The sedimentary profile was confirmed to extend from surface down to the basement unconformity at approximately 100 m . Typical of holes drilled at the Arrow Deposit, an average sedimentary profile was developed from the shaft pilot holes:
  • Rock Geotechnical:
  • Hydrogeological:

Geotechnical Characterization of the A2 Sub-Zone

Assays have confirmed significant uranium mineralization was intersected in the two holes drilled to geotechnically characterize the rock mass within the A2 sub-zone. The holes were designed to obtain data in order to quantify the sub-surface conditions within the mine plan. Both holes were collared at a steep inclination, then shallowed out to a dip of approximately 57°.

  • GAR-18-016 intersected 32.5 m at 6.65% U3O8 (574.5 to 607.0 m ) including 10.0 m at 20.04% U3O8 (583.0 to 593.0 m ) additionally, 10.0 m at 1.43% U3O8 (617.5 to 627.5 m ). The hole intersected significant mineralization outside of the current high-grade resource shells and are not incorporated into the current mineral resource inventory. In terms of packers testing within the A2 sub-zone, GAR-18-016 showed low flow rates averaging 1.656 L/min ( 576.5 m to 639.0 m ).
  • GAR-18-017 intersected 7.5 m at 3.03% U3O8 (616.5 to 624.0 m ) including 3.5 m at 6.34% U3O8 (620.0 to 623.5 m ). The hole was drilled in an open area within the A2 sub-zone between two previously unconnected shells which has not yet been incorporated into the current mineral resource inventory. In terms of packers testing within the A2 sub-zone, GAR-18-017 showed low flow rates averaging 0.950 L/min ( 567.0 m to 618.0 m ) and 0.218 L/min ( 618.0 m to 669.0 m )

Expansion, A2 High-Grade Domain

Assays from drilling focused on an under-explored area to the northeast boundary of the currently defined A2 high-grade domain have confirmed the presence of significant uranium mineralization within the A2 shear zone as well as between the A2 and A3 shears. The hole demonstrates the continuity of high-grade mineralization beyond the currently defined A2 high-grade domains.

  • AR-18-220c1 located, approximately 50 m along strike to the northeast of AR-14-30 (10.32% U3O8 over 46.0 m ) intersected 36.0 m at 1.12% U3O8 (512.0 to 548.0 m ) including 2.0 m at 10.0% U3O8 (528.5 to 530.5 m ) additionally, 16.5 m at 1.43% U3O8 (578.0 to 594.5 m ). Between the currently defined A2 and A3 resource shells the hole intersected 36.0 m at 0.64% U3O8 (396.0 to 432.0 m ) including 4.0 m at 5.23% U3O8 (402.05 to 406.5 m ).

Drill hole locations and schematics are shown in Figures 1 to 5, while assay results are displayed in Table 1.

Leigh Curyer, Chief Executive Officer, commented: “These results highlight the strength of the technical setting of the Arrow Deposit for development and the growth potential that remains at Arrow.  Five years ago today, NexGen discovered the Arrow Deposit. With over 300,000m of drilling since that date and Arrow continuing to show incredible growth with these results, it is truly unique.”

James Hatley , Senior Vice-President, Project Development, commented: “The geotechnical and hydrological conditions for shaft sinking at the Rook I Project have been thoroughly investigated at the feasibility level by SRK, and the bulk hydraulic conductivity in the basement rock from my experience is excellent.”

Troy Boisjoli , Vice-President, Operations and Project Development, commented: “The assay results from the Summer 2018 drill program have confirmed areas with future growth potential at the Arrow Deposit. Another aspect confirmed by these assay results was the strong geotechnical characteristics of the A2 sub-zone. Both of these objectives were successfully reached, supporting the planning for the 2019 drill program which commenced in December 2018 . We look forward to continuing this systematic approach in advancing the Arrow Deposit towards the completion of the Feasibility Study, scheduled for H1/2020.

Development, Activities & Financial

  • Expediting Arrow to Feasibility by initiation of a 2-stage 125,000m (10 rig) high density drilling program that commenced in mid-December 2018 to focus on mine optimization plans based on Measured and Indicated mineral resources.
  • As of January 31, 2019 , the Company had cash-on-hand of approximately  $110 million  which fully funds NexGen for all drilling, feasibility and development programs planned this year.
Figure 1: Arrow Deposit Drilling Locations (CNW Group/NexGen Energy Ltd.)
Figure 1: Arrow Deposit Drilling Locations (CNW Group/NexGen Energy Ltd.)
Figure 2: Shaft Pilot Hole Locations, Arrow Deposit (CNW Group/NexGen Energy Ltd.)
Figure 2: Shaft Pilot Hole Locations, Arrow Deposit (CNW Group/NexGen Energy Ltd.)
Figure 3: A2 Geotechnical Characterization Holes (CNW Group/NexGen Energy Ltd.)
Figure 3: A2 Geotechnical Characterization Holes (CNW Group/NexGen Energy Ltd.)
Figure 4: Expansion, A2 High-Grade Domain (CNW Group/NexGen Energy Ltd.)
Figure 4: Expansion, A2 High-Grade Domain (CNW Group/NexGen Energy Ltd.)

Table 1: Arrow Drill Hole Data

Drill Hole

Athabasca Group – Basement

Unconformity Depth (m)

SRC Geoanalytical Results

Hole ID

Azimuth

Dip

Total Depth

(m)

From

(m)

To (m)

Interval

(m)

U3O8 

(wt%)

AR-18-210c1

327

-70

876.5

115

606.5

607.0

0.5

0.04

AR-18-210c2

327

-70

957.5

N/A

No significant intersections

AR-18-210c3

327

-70

946

N/A

No significant intersections

AR-18-211c1

327

-70

1128.5

N/A

865.5

866

0.5

0.05

869

871

2

0.02

875

877

2

0.03

960.5

962.5

2

0.03

988

991

3

0.02

1088.5

1089.5

1

0.04

AR-18-211c2

327

-70

1014.5

N/A

No significant intersections

AR-18-211c3

327

-70

1063.5

N/A

647

647.5

0.5

0.01

865.5

866.5

1

0.02

953.5

954.5

1

0.03

AR-18-212c1

325

-67

807.5

97.7

No significant intersections

AR-18-213c1

327

-65

765.5

98.85

No significant intersections

AR-18-214c1

327

-65

891.5

111

149.5

151

1.5

0.01

157

161.5

4.5

0.13

337

337.5

0.5

0.05

AR-18-215c1

327

-70

990.5

N/A

883.5

884

0.5

0.02

906

906.5

0.5

0.02

AR-18-216c1

327

-65

483.5

107.4

No significant intersections

AR-18-217c1

327

-73.5

1233.5

122.5

196

202

6

0.02

727.5

728

0.5

0.02

964.5

966

1.5

0.35

969.5

971

1.5

0.04

977.5

978.5

1

0.10

AR-18-218c1

327

-65

827

97.8

No significant intersections

AR-18-219c1

327

-65

663.5

133.95

342.5

347

4.5

0.05

353

354

1

0.15

358

371

13

0.08

375

375.5

0.5

0.03

381.5

383

1.5

0.02

387

416

29

0.08

420

421.5

1.5

0.01

424.5

435

10.5

0.05

438

472

34

0.14

572

579.5

7.5

0.07

586.5

590

3.5

1.87

incl.

587

588

1

5.73

593

595.5

2.5

0.02

600.5

605

4.5

0.17

610

612

2

0.43

621

625.5

4.5

0.32

631

631.5

0.5

0.21

AR-18-220c1

327

-68

744.5

130.35

331

332

1

0.02

335.5

337.5

2

0.04

359.5

362

2.5

0.03

365

380.5

15.5

0.12

383.5

391.5

8

0.18

396

432

36

0.64

incl.

402.5

406.5

4

5.23

435.5

441

5.5

0.08

444.5

456

11.5

0.05

475

491

16

0.03

501

508.5

7.5

0.11

512

548

36

1.12

incl.

520.5

521.5

1

8.55

incl.

528.5

530.5

2

10.06

578

594.5

16.5

1.43

incl.

588.5

592.5

4

5.68

597

599

2

0.05

624.5

625.5

1

0.10

641.5

646.5

5

0.05

657

660.5

3.5

0.02

680

682.5

2.5

0.04

AR-18-220c1a

327

-68

441

448

445

446.5

1.5

0.06

GAR-18-006

147

-80

737.4

100.8

518

522

4

0.21

576

578

2

0.55

600

601

1

0.03

GAR-18-006a

147

-80

155.4

101

No significant intersections

GAR-18-007

147

-68

671.4

93

No significant intersections

GAR-18-008

147

-65

629.6

96.05

597

598.5

1.5

0.10

617.5

618

0.5

0.18

GAR-18-009

147

-70

641.4

101

No significant intersections

GAR-18-010

147

-90

650.44

98

548

551

3

0.06

553.5

555

1.5

0.12

558

559

1

0.01

GAR-18-011

147

-65

799.5

95.05

No significant intersections

GAR-18-012

327

-75

1043.4

N/A

564.5

566

1.5

0.05

589

589.5

0.5

0.02

602.5

606

3.5

0.28

766

767.5

1.5

0.02

GAR-18-013

147

-90

650.4

108.9

No significant intersections

GAR-18-014

327

-80

659.4

101

No significant intersections

GAR-18-015

147

-90

701.47

96.35

No significant intersections

GAR-18-016

327

-65

660

128.85

492

493

1

0.09

534

539.5

5.5

0.04

550

554.5

4.5

0.04

574.5

607

32.5

6.65

incl.

583

593

10

20.04

incl.

605

607

2

4.43

617.5

627.5

10

1.43

incl.

622.5

626

3.5

3.19

GAR-18-017

327

-65

717

127.75

503

504

1

0.11

514.5

515

0.5

2.03

517.5

518

0.5

0.36

521.5

522

0.5

0.04

530

532.5

2.5

1.35

535.5

537

1.5

0.11

563.5

567

3.5

0.06

577.5

578.5

1

0.17

581

599

18

0.06

616.5

624

7.5

3.03

incl.

620

623.5

3.5

6.34

627

631

4

0.12

638.5

640

1.5

0.02

650.5

661

10.5

0.04

666

669

3

0.07

Parameters:

  • Maximum internal dilution 2.0 m downhole
  • Minimum thickness of 0.5 m downhole
  • Cutoff grade 0.01% U3O8
  • All depths and intervals are metres downhole, true thicknesses are yet to be determined. Resource modelling in conjunction with an updated mineral resource estimate is required before true thicknesses can be determined.
  • Directional drilling has often resulted in mineralization intersected at a more favourable and shallower dip

About NexGen

NexGen is a British Columbia corporation with a focus on the acquisition, exploration and development of Canadian uranium projects. NexGen has a highly experienced team of uranium industry professionals with a successful track record in the discovery of uranium deposits and in developing projects through discovery to production. NexGen owns a portfolio of prospective uranium exploration assets in the Athabasca Basin, Saskatchewan, Canada, including a 100% interest in Rook I, location of the Arrow Deposit in February 2014, the Bow discovery in March 2015, the Harpoon discovery in August 2016 and the Arrow South discovery in July 2017. NexGen is the recipient of the PDAC’s 2018 Bill Dennis Award and the 2019 Environmental and Social Responsibility Award.

Technical Disclosure

The technical information in this news release with respect to the PFS has been reviewed and approved by Paul O’Hara , P.Eng. of Wood., David Robson , P.Eng., M.B.A., and Jason Cox , P.Eng. of RPA, each of whom is a “qualified person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects(“NI-43-101“).

The Mineral Resource Estimate was completed by Mr. Mark Mathisen , C.P.G., Senior Geologist at RPA and Mr. David Ross , P.Geo., Director of Resource Estimation and Principal Geologist at RPA.  Both are independent Qualified Persons in accordance with the requirements of National Instrument (NI) 43-101 and they have approved the disclosure herein. All other technical information in this news release has been approved by Mr. Troy Boisjoli , Geoscientist Licensee, Vice President – Operations & Project Development for NexGen.  Mr. Boisjoli is a qualified person for the purposes of NI 43-101 and has verified the sampling, analytical, and test data underlying the information or opinions contained herein by reviewing original data certificates and monitoring all of the data collection protocols.  All other technical information in this news release has been approved by Mr. James Hatley , a Professional Engineer, Senior Vice-President – Project Development for NexGen.  Mr. Hatley is a qualified person for the purposes of NI 43-101 and has reviewed the underlying the information or opinions contained herein on mine design.

A technical report in respect to the PFS is filed on SEDAR (www.sedar.com) and EDGAR (www.sec.gov/edgar.shtml) and is available for review on NexGen Energy’s website (www.nexgenenergy.ca).

SEC Standards

Estimates of mineralization and other technical information included or referenced in this news release have been prepared in accordance with NI 43-101. The definitions of proven and probable mineral reserves used in NI 43-101 differ from the definitions in SEC Industry Guide 7. Under SEC Industry Guide 7 standards, a “final” or “bankable” feasibility study is required to report reserves, the three-year historical average price is used in any reserve or cash flow analysis to designate reserves and the primary environmental analysis or report must be filed with the appropriate governmental authority. As a result, the reserves reported by the Company in accordance with NI 43-101 may not qualify as “reserves” under SEC standards. In addition, the terms “mineral resource”, “measured mineral resource”, “indicated mineral resource” and “inferred mineral resource” are defined in and required to be disclosed by NI 43-101; however, these terms are not defined terms under SEC Industry Guide 7 and normally are not permitted to be used in reports and registration statements filed with the SEC. Mineral resources that are not mineral reserves do not have demonstrated economic viability. Investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be converted into reserves. “Inferred mineral resources” have a great amount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all or any part of an inferred mineral resource will ever be upgraded to a higher category. Under Canadian securities laws, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Additionally, disclosure of “contained pounds” in a resource is permitted disclosure under Canadian securities laws; however, the SEC normally only permits issuers to report mineralization that does not constitute “reserves” by SEC standards as in place tonnage and grade without reference to unit measurements. Accordingly, information contained or referenced in this news release containing descriptions of the Company’s mineral deposits may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements of United States federal securities laws and the rules and regulations thereunder.

Technical Information

For details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource please refer to the technical report entitled “Arrow Deposit, Rook I Project Saskatchewan NI 43-101 Technical Report on Pre-feasbility Study” dated effective 5 November, 2018 (the “Rook 1 Technical Report”) prepared by Paul O’Hara , P.Eng., Jason J. Cox , P.Eng., David M. Robson , P.Eng., M.B.A., Mark B. Mathisen , C.P.G. each of whom is a “qualified person” under NI 43-101. The Rook I Technical Report is available for review under the Company’s profile on SEDAR at www.sedar.com and EDGAR (www.sec.gov/edgar.shtml) providing details of the Rook I Project including the quality assurance program and quality control measures applied and key assumptions, parameters and methods used to estimate the Mineral Resource and is available on NexGen Energy’s website (www.nexgenenergy.ca).

Forward-Looking Information

The information contained herein contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. “Forward-looking information” includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negative connotation thereof or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved” or the negative connotation thereof.

Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about NexGen’s business and the industry and markets in which it operates. Forward-looking information and statements are made based upon numerous assumptions, including among others, that the proposed transaction will be completed, the results of planned exploration activities are as anticipated, the price of uranium, the cost of planned exploration activities, that financing will be available if and when needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct NexGen’s planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward looking information or making forward looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.

Forward-looking information and statements also involve known and unknown risks and uncertainties and other factors, which may cause actual results, performances and achievements of NexGen to differ materially from any projections of results, performances and achievements of NexGen expressed or implied by such forward-looking information or statements, including, among others, negative operating cash flow and dependence on third party financing, uncertainty of the availability of additional financing, the risk that pending assay results will not confirm previously announced preliminary results, imprecision of mineral resource estimates, the appeal of alternate sources of energy and sustained low uranium prices, aboriginal title and consultation issues, exploration risks, reliance upon key management and other personnel, deficiencies in the Company’s title to its properties, uninsurable risks, failure to manage conflicts of interest, failure to obtain or maintain required permits and licenses, changes in laws, regulations and policy, competition for resources and financing, and other factors discussed or referred to in the Company’s Annual Information Form dated March 2, 2018 under “Risk Factors”.

Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information or implied by forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.

There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information. The Company undertakes no obligation to update or reissue forward-looking information as a result of new information or events except as required by applicable securities laws.

NexGen Energy Ltd. (CNW Group/NexGen Energy Ltd.)
NexGen Energy Ltd. (CNW Group/NexGen Energy Ltd.)
Cision
Cision

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SOURCE NexGen Energy Ltd.

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Base Metals Blog Energy Project Generators

FISSION 3.0 Intercepts Anomalies and Strong Alteration at PLN; Preps for 9 Holes at Key Lake South

CNW Group

Winter drill program continues to enhance project

TSX VENTURE SYMBOL: FUU

KELOWNA, BC , Feb. 14, 2019 /CNW/ – FISSION 3.0 CORP. (“Fission 3” or “the Company“) is pleased to announce results from the winter drill program at its PLN project in the Athabasca Basin region of Saskatchewan, Canada . A total of 2,051m were drilled in six completed holes and two holes that were abandoned due to poor ground conditions.  Drilling focused on the north-south trending A1 basement hosted electromagnetic “EM” conductor, where previous drilling in 2014, including hole PLN14-019 ( 6.0m @ 0.012% U3O8), indicated the conductive corridor to be prospective for mineralization. All six holes encountered strong hydrothermal alteration over variable widths and a number of narrow radiometric anomalies, including a downhole radiometric peak of 1,382cps (PLN19-026), often a key signature of mineralized systems. The A1 conductive corridor remains prospective to the south and PLN hosts multiple drill targets that remain untested on the property, and will be the subject of future exploration.

Fission 3.0 Logo (CNW Group/Fission Uranium Corp.)
Fission 3.0 Logo (CNW Group/Fission Uranium Corp.)

New Drill Program Imminent. The company is prepping for a nine-hole work program at two of its Key Lake South projects – Karpinka Lake and Hobo Lake – which is expected to commence imminently.  The Key Lake South projects are located approximately 40km south of the historic Key Lake mine and mill.  In a setting analogous to Fission Uranium’s PLS project, the target is shallow depth, basement hosted uranium mineralization outside of the present day Athabasca Basin margin. The Key Lake Shear Zone (KLSZ) is a north-south trending, moderately meandering litho-structural corridor that is present north of the Key Lake deposit and continues to the south, through the Karpinka and Hobo Lake properties.  The KLSZ is a primary feature associated  with the occurrence of the historic Key Lake deposit and its presence on the Key Lake South properties represents an important exploration target.

News Highlights

  • PLN Highlights:
  • Key Lake South Highlights:

Ross McElroy , COO, and Chief Geologist for Fission, commented,

“Drilling this winter on the A1 conductive trend encountered encouraging alteration and radioactive anomalies. The six completed holes followed up a section of the trend where previous drilling indicated encouraging signs of potential mineralization. PLN is an exciting and highly prospective property in an emerging uranium camp in the Patterson Lake area, where recent nearby discoveries of world-class high-grade uranium deposits have been made. Future drill programs will continue to test the vast potential of the PLN project. We are also looking forward to our Key Lake South drill program, which will commence later this month.”

About PLN: The PLN package consists of a total of 36,537 ha in 37 mineral claims of which Fission 3 has a 90% interest in 27,408 ha (10 mineral claims) and a 100% interest in an additional recently staked 9,129 ha (27 mineral claims).  Azincourt Energy Corp. holds a 10% interest in 27,408 ha of the PLN property.

The property, just inside the Athabasca Basin, is prospective for high-grade uranium at shallow depth.  The property is adjacent to, and part of the same structural corridor as Fission Uranium’s PLS project, host to the Athabasca’s most significant major, shallow-depth, high-grade uranium deposit.  Previous drill results show large scale potential.  Drilling in 2014 identified a mineralized corridor associated with the A1 ~700m in strike length, where results returned significant mineralization and pathfinder elements (uranium, boron, copper, nickel and zinc) and included hole PLN14-019 which intercepted 0.5m at 0.047% U3O8 within 6.0m @ 0.012% U3O8.

About Key Lake South: The Key Lake area is an important historic mining district.  The Key Lake operations is owned by Cameco Corp. (83%) and Orano Canada Inc. (17%) and hosted the former Key Lake mine, which produced 208 million pounds of uranium between 1975 to 1997 and is home to one of the largest uranium mills in the world.  The Key Lake mill processed ore from the McArthur River uranium deposit, until Cameco announced in 2018 that McArthur River mining would be suspended indefinitely due to low uranium prices.  The area is considered highly prospective to discover significant new uranium occurrences.

The 100% owned Key Lake South Projects consist of two projects (Karpinka Lake and Hobo Lake) covering 19,377 ha in 42 mineral claims.  The properties are located approximately 40km south of the historic Key Lake mine.  The  projects are geologically situated within the extremely prolific Wollaston-Mudjatic Transition Zone “WMTZ”, notable for hosting the majority of the major high-grade uranium deposits on the eastern side of the Athabasca Basin.  To the north, the Key Lake Deposit is hosted within the northern portion of northeast-southwest trending litho-structural feature known as the Key Lake Shear Zone “KLSZ”.  The KLSZ continues southward through the Karpinka Lake and Hobo Lake projects.  Together the properties cover approximately 50km of trend of the KLSZ, where a number of geochemical uranium anomalies have been discovered and where a network of EM conductors exhibit structural complexity including off-sets, breaks, folding and other geophysical features such as gravity and resistivity lows.  These features are often associated with uranium mineralization occurrences.

Table 1:  Winter 2019 PLN Drill Hole Summary

Target

Hole ID

Collar

* Down-hole Radiometric Highlights
with Mount Sopris 2PGA-1000 Natural Gamma Probe

Overburden Depth
(m)

Athabasca
Sandstone
Thickness (m)

Basement Unconformity
Depth (m)

Total Depth (m)

Azimuth

Dip

From (m)

To (m)

Width (m)

CPS Peak

A1 Conductor

PLN19-022

56

-62

184.8

185.6

0.8

547

115.6

19.5

135.1

290.0

PLN19-023

Abandoned

132.6

PLN19-023A

Abandoned

131.7

PLN19-023B

46

-77

148.5

149.4

0.9

731

114.8

13.1

127.9

389.0

PLN19-024

58

-72

203.6

204.9

1.3

912

111.5

8.0

119.5

266.0

214.3

216.1

1.8

891

PLN19-025

62

-72

196.4

196.7

0.3

548

118.8

0.2

119.0

299.0

199.3

199.6

0.3

644

212.8

213.6

0.8

834

PLN19-026

61

-79

154.0

154.3

0.3

712

108.5

16.8

125.3

353.0

162.8

163.2

0.4

1382

PLN19-027

47

-59

185.5

185.6

0.1

476

111.5

1.9

113.4

190.0

Total

2051.3

Hole by Hole Summary
The current drill program tested down-dip and along strike to the north and south of PLN14-019.

PLN19-022
PLN19-022 was an angled hole designed to test the up-dip extension of anomalous shear hosted radioactivity intersected in PLN14-019 ( 6.0m averaging 0.012 % U3O8). The drill hole intersected moderately bleached and fractured Athabasca sandstone from a depth of 115.6m to 135.0m , underlain by a thick sequence of variably hematite, clay and chlorite altered granite, granitic gneiss, mafic intrusive and pegmatite. A thin brittle-ductile shear zone was intersected from 177.7m to 185.5m with elevated radioactivity occurring between 180.0m to 180.5m up to 300 counts per second (cps) on a RS-121 handheld scintillometer. Fresh basement rocks were intersected at a depth of approximately 240m to a final depth of 290.0m .

PLN19- 023B
PLN19- 023B was an angled drill hole collared 30m grid north of PLN14-019, targeting PLN14-019 anomalous shear hosted radioactivity along strike. The first and second attempts to test this target, drill holes PLN19-023 and PLN19-023A, respectively, were both lost shortly after reaching bedrock due to poor ground conditions. PLN19- 023B cored  Athabasca sandstone from 114.8m to 127.9m underlain by a sequence of variably altered granite, granitic gneiss and mafic intrusives. Millimeter scale black radioactive blebs were identified in strongly hematized basement rock around 139m down hole, returning up to 210 cps on a RS-121 scintillometer.  A thin brittle-ductile shear zone was intersected from 188.2m to 193.7m but was not radioactive. Fresh basement rocks were intersected at a depth of approximately 244m to a final depth of 354.8m .

PLN19-024
PLN19-024 was an angled drill hole collared 30m grid south of PLN14-019 targeting the anomalous shear hosted radioactivity along strike.  Strongly fractured, locally bleached and hematized Athabasca sandstone was intersected from 111.5m to 119.0m . The Athabasca sandstone was underlain by variably altered granite, orthogneiss and mafic intrusives with a strongly clay altered graphitic mylonite occurring between 201.2m to 224.3m .  No anomalous radioactivity was intersected and the hole was terminated in fresh basement at a depth of 266.0m .

PLN19-025
PLN19-025 was an angled drill hole collared 30m grid south of PLN19-024.  The hole was designed to further test the strongly altered graphitic mylonite along strike. A thin lens of Athabasca sandstone was intersected from 118.8m to 119.0m which was underlain by variably clay, chlorite and hematite altered granite, orthogneiss, mafic intrusives and pegmatite. A thick graphite and sulphide-rich shear zone was intersected from 193.8m to 211.8m with weak hydrothermal alteration present throughout. The hole was terminated in fresh basement at a depth of 299.0m .

PLN19-026
PLN19-026 was an angled drill hole collared 80m grid west of PLN19-024 and targeted the down dip projection of the strongly altered graphitic shear zone, testing for basement hosted uranium mineralization at depth. Athabasca sandstone was intersected from a depth of 108.5m to 125.3m , underlain by weakly hematite, chlorite and clay altered granitic gneiss, mafic intrusives and granites. A weakly altered graphitic mylonite was intersected from 259.2m to 268.0m , with an associated radiometric peak of 1328 cps ( 162.8m to 163.2m ). The hole was terminated in fresh bedrock at a final depth of 353.0m .

PLN19-027
PLN19-027 was drilled approximately 1 km grid south of PLN14-019 and tested the up-dip projection of a graphitic shear zone intersected in drill holes PLN14-011 and PLN14-012 where a coincident north-south trending magnetic low is present. Athabasca sandstone was intersected from 111.5m to 113.4m , underlain by weak to moderately altered granite and orthogneiss to a depth of 190.0m where the drill hole was lost due to poor ground conditions. No anomalous radioactivity was intersected.

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a Mount Sopris PGA-1000 Natural Gamma Probe and a hand-held RS-121 Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.

Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK . Analysis will include a 63 element ICP-OES, and boron.

All depth measurements reported, including radioactivity and mineralization interval widths are down-hole, core interval measurements and true thickness are yet to be determined.

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 on behalf of the company by Ross McElroy , P.Geol. Chief Geologist and COO for Fission 3.0 Corp., a qualified person.

About Fission 3.0 Corp.

Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia . Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”

ON BEHALF OF THE BOARD

“Ross McElroy”

Ross McElroy , COO

Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these 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 state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission Uranium Corp.

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