In this episode of ‘Proven and Probable,’ we engage with Bob Moriarty, a distinguished commentator on geopolitical and economic affairs. Bob’s extensive experience includes serving as a Marine F-4B pilot during the Vietnam War, where he flew over 820 combat missions and became one of the most highly decorated pilots of the conflict.
We delve into the recent tragic collision between an American Airlines plane and a military helicopter near Washington, D.C., exploring Bob’s insights on the incident, the National Transportation Safety Board’s investigative approach, and media coverage.
The discussion also covers U.S. tariff policies, international responses, and the current state of gold and precious metals, providing a comprehensive analysis of these pressing issues.
Join us for an in-depth conversation that offers clarity and depth on these complex topics.
In the news release, Lion One Announces Overnight Marketed Offering, issued 05-Feb-2025 by Lion One Metals Limited over PR Newswire, we are advised by the company that instances of the word “Underwriters” have been updated to “Underwriter” in the 2nd, 3rd, and 6th paragraphs. The 4th paragraph has also been updated with additional information regarding the Warrant Shares. The complete, corrected release follows:
Lion One Announces Overnight Marketed Offering
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
NORTH VANCOUVER, BC, Feb. 5, 2025 /CNW/ – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to announce that it is commencing an overnight marketed public offering of units (the “Offered Units“) of the Company for anticipated gross proceeds of up to C$7.5 million (the “Offering“).
The Offering is expected to be completed pursuant to an underwriting agreement (the “Underwriting Agreement“) to be entered into between the Company, Stifel Nicolaus Canada Inc. as lead underwriter and sole bookrunner (“Stifel” or “Lead Underwriter“), and a syndicate of underwriters to be determined (collectively with the Lead Underwriter, the “Underwriters“).
In connection with the Offering, up to 22,058,824 units (the “Units“) of Lion One will be issued at a price of C$0.34 per Unit (the “Issue Price“) for total gross proceeds of up to C$7,500,000 (the “Offering“). In addition, the Company will grant the Underwriter an over-allotment option (the “Over-Allotment Option“) exercisable, in whole or in part, in the sole discretion of the Underwriter, to purchase up to an additional 15% of the number of Offered Units sold in the Offering for up to 30 days after the closing, on the same terms and conditions as the Offering.
Each Unit will consist of one (1) common share of the Company (a “Share“) plus one (1) common share purchase warrant (each a whole common share purchase warrant, a “Warrant“). Each Warrant will entitle the holder thereof to purchase one Share (a “Warrant Share“) at an exercise price of C$0.41 for 36 months following the closing of the Offering.
The net proceeds received by the Company from the sale of the Offered Units will be used for development and exploration expenditures at the Company’s projects in Fiji, working capital and for general corporate purposes.
The Offering will be made by way of a prospectus supplement (the “Prospectus Supplement“) to the Company’s existing Canadian short form base shelf prospectus dated January 31, 2025 (the “Base Shelf Prospectus“). Upon completion of pricing of the Offering and the signing of the Underwriting Agreement, the Prospectus Supplement will be filed with the securities commissions in each of the provinces of Canada. and will be available on SEDAR+ at www.sedarplus.ca. Alternatively, the Prospectus Supplement and related Base Shelf Prospectus may be obtained upon request by contacting the Company or Stifel in Canada, attention: ProspectusCanada@stifel.com. The Offered Units will be offered in all provinces and territories of Canada except Québec and Nunavut. The Offered Units will not be offered or sold in the United States except under or Regulation D or in such other manner as to not require registration under the United States Securities Act of 1933, as amended. The Offered Units may also be offered in those jurisdictions outside of Canada and the United States as agreed to by the Company and the Underwriter provided that no prospectus filing or comparable obligation arises and the Company does not thereafter become subject to continuous disclosure obligations in such jurisdictions.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom. The closing of the Offering is expected to occur on or about February 14, 2025 and is subject to the completion of formal documentation and receipt of regulatory approvals, including the approval of the TSX Venture Exchange.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors Walter Berukoff, Chairman and CEO
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.
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding the results of the Offering and associated marketing efforts, the use of proceeds of the Offering, and the anticipating closing date of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Prospectus Supplements. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
Vancouver, British Columbia–(Newsfile Corp. – February 5, 2025) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce that the next stage of exploration is now progressing, following the successful completion of the joint Q4 2024 drilling program at the Cecilia Gold Project in Sonora, Mexico. The drill program was conducted in partnership with Fortuna Mining, which continues to advance their earn-in option on the project (See news release: March 13, 2024). Riverside, acting as the operator, completed an initial five-hole, 2,250-meter drilling campaign designed to test four distinct target areas generally with one geological evaluation drill hole per target to seek scale and evidence of a potentially strong hydrothermal system which would set up for a follow up 2025 exploration program which has now begun. The drilling in Q4 hit favorable indicators as outlined below and continued to develop the district scale targets both at Cerro Magallanes and on the broader >60 km sq property package with vast areas to expand.
The drill program announced in September (See press release: September 10, 2024), where Riverside outlined its goals to define and expand key targets at Cecilia. The latest program hit gold mineralization in each target area and broader epithermal alteration consistent with target styles like the nearby Mercedes Mine Sonora and Oatman Gold District Arizona. At Magallanes Hill, two holes were drilled at the San Jose target, followed by one hole on the eastern flank, referred to as the East Target. Additionally, two holes were drilled in the Mesa area to the south: one testing the Mayra Vein concept and the final hole drilled eastward to intersect the Mesa Fault, a significant structural target.
“We are encouraged by the results of the Q4 2024 drilling program, which focused on testing geological features with limited previous drilling, just one or two holes in each area, and yielded positive indicators while also uncovering some unexpected geologic surprises,” said John-Mark Staude, President and CEO of Riverside Resources. “This program not only confirmed earlier gold intercepts but also expanded the scale of exploration with significant step-outs and new target areas. The ongoing work underscores our commitment to unlocking new opportunities and delivering sustained value to our stakeholders.”
Highlights of the Drill Program:
San Jose Vein System (North Breccia): Two holes were drilled to extend testing of this structure, building upon results from previous drilling and assay work. The San Jose system has shown significant mineralization potential, as highlighted in prior programs including samples returning values of up to 48.3 g/t Au over 0.75 m at surface (See press release: January 28, 2021). Drilling to depths of 500 to 800 meters successfully intersected the San Jose structure in both holes, confirming the continuity of this extensive vein system. Notably, hole CED24-010 returned an intercept of 3.41 g/t Au over 4 meters, starting at a depth of 76 meters, with an additional lower intercept including 0.39 g/t Au over 5.25m starting at 319m identified along the projected extension of the San Jose vein which topographically is over 500m below the Magallanes peak and previous drill intercepts in the upper part of the San Jose vein system. These results are illustrated in the cross-section below.
East Target: A single hole was drilled perpendicular to known mineralization identified in surface samples and previous drilling by Cambior (1996). This hole crossed through thick zones of alteration, adding valuable geological data for this target and confirming that Cecilia has strong feeder zones for gold. The hole intersected at least 6 gold bearing intervals with one being 0.38 g/t Au over 1.75m starting from 149.25m. This hole was drilled eastward in order to constrain the dip as past drill holes had been drilled westward. The single new hole intercepted multiple veins for this part of the eastern Magallanes system as shown on the map below and on the Company website
Mesa Ranch Area (Mayra Vein): The 2024 program was the first time the Mayra Vein has been tested with this the first drill to be conducted on the broader Cecilia project, which encompasses over a dozen identified targets. This hole was intended to test the northwest trending epithermal veins related with felsic dikes that potentially feed toward and likely cut the Puma Dome. These district-scale targets from the Mesa Ranch area have potential along strike for further exploration. Core drill hole CED24-011 intersected multiple vein zones, including an interval of 0.21 g/t Au over 2 meters starting at 281 meters. The gold-bearing interval featured quartz veining and oxides whose projection aligns with surface-sampled veins that extend over 700 meters along strike, further highlighting the potential and continued interest in these vein systems.
South Mesa Fault Zone (Mesa South): The final hole of the program focused on the extensive South Mesa Fault; a 10 km-long structure comparable to fault-controlled gold systems like those in Nevada’s Midas District. Drill hole CED24-012 intersected the fault at 110m and comprises a 5m thick interval of sheared brecciated rock which can be projected to surface and followed along strike. Surface samples returned gold values of over 2 g/t gold along the surface projection of this fault. Plans are in place for additional exploration of the Mesa South region for the first half of 2025, which will include tracking the Mesa fault’s continuity along strike.
The table below summarizes the locations and depths for the five holes completed in this first drilling round with Fortuna Mining.
The drilling location map below shows the 5 holes (3 drill pads) which correlate with the drill hole descriptive table above. Drill hole CED24-008 at Magallanes was deeper than any previous drilling. Figure 1 shows the drill traces as they intersected the down dip projection of the veins.
Figure 1– Geology map and location of the five 2024 drill holes shown in red. The straight and thin black lines near Magallanes are drill holes from previous campaigns. This new program stepped out to test the East Target (CED24-009) and the Mayras and South Mesa with single holes.
The cross-section figure below highlights hole CED24-010 from the drill program, which demonstrates the intersections of multiple vein structures. These structures are now interpreted to potentially extend over 800 meters vertically, suggesting they could be part of a significant epithermal system. Further exploration is planned for 2025, including an MT (Magneto-telluric) geophysical survey to refine our targeting of the system. Based on the results of these surveys, additional drilling may be undertaken to further evaluate the system’s potential. The Project includes numerous untested targets throughout the 60 km sq land package.
Figure 2: Cross section of the Magallanes Dome showing the volcanic units and structures
This drill program advanced the understanding of the Cecilia system’s geology, confirming significant low-sulfidation epithermal features in the Cerro Magallanes area. Data from the drilling suggests the mineralization system is tilted southeast, supported by surface mapping, geochemical analysis, and structural modeling.
The Cecilia Gold Project continues to demonstrate significant potential. Fortuna Mining’s technical expertise and funding have enabled systematic exploration, with the partnership potentially targeting a larger follow-up program in 2025. The drilling positively demonstrated scale and alterations consistent with a mineralized system worthy of more advanced drilling in addition to continued target testing.
Stock Option Grant:
On February 4th, 2025, the Company granted 1,450,000 incentive stock options (the “Options”) to certain Directors, Officers and Consultants of the Company. The Options are exercisable at $0.13 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a director vest in 3 equal instalments over 18 months. Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Cecilia Project was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources who is responsible for ensuring that the 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.
Drill core samples were sealed with zip straps and picked up by Bureau Veritas at site who took custody and drove samples to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas’ laboratory under their custody to Vancouver, BC, Canada and analyzed for 45 elements using their ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standards, duplicates and blanks were inserted into the sample stream prior to being sent to the laboratory. The QA/QC analysis was completed with results fitting well with standards, blanks and duplicates not varying beyond normal statistical variance.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – February 4, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) congratulates EMX board member, Mr. Chris Wright, on his confirmation as U.S. Secretary of Energy under President Donald Trump. Mr. Wright was confirmed as Secretary on February 3, 2025 in a bipartisan vote in the U.S. Senate and will now join the Cabinet of the United States in Washington, D.C. Mr. Wright is known for his innovations and entrepreneurial contributions to the energy sector, but also for his focus on humanitarian efforts such as co-founding the Bettering Human Lives Foundation. He has been a spirited contributor at EMX board meetings and management discussions. As a consequence of his confirmation, Mr. Wright will step down from the board of EMX. The Company sincerely thanks Mr. Wright for his contributions at EMX and is excited to observe his future role in leading and shaping the energy policy of the United States.
About EMX – EMX is a precious and base 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.
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.
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 September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from its 2024 program at the Homestake Silver deposit and exploration drilling at the Homestake Ridge Property in BC’s Golden Triangle. The twenty (20) drillholes reported in this release have successfully expanded and infilled multiple high-grade gold and silver-rich zones within the Homestake Silver Deposit. Three (3) drillholes reported in this release tested exploration targets across various prospects on the property. Dolly Varden’s 2024 drill program consisted of 69 drill holes for a total of 31,726m, with 41 holes totalling 15,546 meters drilled at the Dolly Varden area and 28 holes totalling 16,181 meters drilled at Homestake Ridge area. Planning for the fully funded 2025 drill program is underway to build on the expanded silver and gold zones drilled in 2024.
Highlights from the Homestake Silver Deposit Area (*intervals shown are core length):
HR24-431: Step out to north: 21.55 g/t Au and 27 g/t Ag over 8.72 meters, including 47.92 g/t Au and 58 g/t Ag over 3.74meters and including 91.1 g/t Au and 114 g/t Ag over 0.51 meters
HR24-433: Step out on new eastern lens: 35.05 g/t Au and 114 g/t Ag over 2.32 meters, including 74.7 g/t Au and 297 g/t Ag over 0.72 meters within 29.50 meters of 3.48 g/t Au and 13 g/t Ag
HR24-437: South end infill: 5.54 g/t Au and 97 g/t Ag over 10.20 meters, including 21.34 g/t Au and 384 g/t Ag over 2.40 meters, including 42.10 g/t Au and 1,135 g/t Ag over 0.77 meters
HR24-438: South end infill: 4.48 g/t Au and 16 g/t Ag over 14.33 meters, including 29.17 g/t Au and 59 g/t Ag over 1.62 meters
HR24-439: Step out 170 meter down dip: 1.56 g/t Au and 5 g/t Ag over 28.9 meters including 9.55 g/t Au and 32 g/t Ag over 0.50 meters and 12.15 g/t Au and 14 g/t Ag over 1.00 meter
HR24-448: infill hole, 91.20 meters grading 1.88 g/t Au and 3 g/t Ag, including 13.90 g/t Au and 6 g/t Ag over 0.74 m, 21.70 g/t Au and 5 g/t Ag over 0.57 meters and 36.10 g/t Au and 12 g/t Ag over 1.00 meter as well as silver dominant intercepts including 1.10 g/t Au and 786 g/t Ag over 0.91 meters and 0.31g/t Au and 571 g/t Ag over 0.82 meters
*Estimated true widths vary depending on intersection angles and range from 55% to 75% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated **Assay results reported are uncapped
“Homestake Silver was originally considered a primary silver-rich deposit, however our drilling has continued to identify multiple gold-rich zones and remains wide open for expansion. Fully funded drilling in 2025 will target continued growth and further infill-drilling as a high-priority amongst the many targets in the Kitsault Valley trend,” said Shawn Khunkhun, CEO of Dolly Varden Silver.
2024 drilling at Homestake Silver targeted infill of Inferred Resources and Resource expansion drilling along strike to the north and south, as well as the down-dip. Complete drill results are presented in Table 1.
Highlight drill hole HR24-431 intersected 21.55 g/t Au and 27 g/t Ag over 8.72 meters, including 47.92g/t Au and 58 g/t Ag over 3.74 meters. This is one of five drill holes targeting the northern extension of Homestake Silver deposit by testing the projected extension of the shallow angle plunge of wider, higher grade gold mineralization (Figure 3). HR24-431 targeted 180 meters down plunge from previously released drill hole HR23-410, that intersected 10.17 g/t Au over 6.61 meters, including 50.70 g/t Au over 0.62 meters (February 12, 2024, news release).
The other four drill holes testing the extent of the northern gold-rich zone all intersected a broad alteration zone with internal areas of strong veining and vein breccias. Drill hole HR24-433 intersected the new gold-rich zone to the east of the main Homestake Silver trend, grading 3.48 g/t Au and 13 g/t Ag over 29.50 meters and included higher grade vein intervals of 35.05 g/t Au and 114 g/t Ag over 2.32 meters (Figure 5). HR24-433 stepped out from previously released hole HR23-399, that intersected the new east gold lens grading 2.68 g/t Au and 20 g/t Ag over 57.70 meters and included higher grade vein intervals of 43.10 g/t Au and 66 g/t Ag over 1.01 meters and 40.33 g/t Au and 418 g/t Ag over 1.75 meters. (February 12, 2024, new release).
Figure 2. Drill hole HR24-431 north end of Homestake Silver deposit. Mineralization is hosted in multi phase vein and vein breccias with strong pyrite, chalcopyrite, galena and sphalerite mineralization and visible gold.
Drill hole HR24-425 was drilled at an orientation to test the continuity of the new style of quartz-carbonate veining with abundant visible gold intersected in previously released drill hole HR23-389 (February 12, 2024, news release). HR24-425 intersected individual veins grading 8.86 g/t Au over 0.84 meters and 5.78 g/t Au over 2.00 meters.
Drill holes HR24-426 and HR24-449 tested the possible connection of Homestake Main and Homestake Silver deposits with a 250 meter step-out along the projected trend from Homestake Silver. Both drill holes intersected alteration associated with the continuation lower grade anomalous Au that indicate the structural corridor is continuous between the deposits.
Eight drill holes were drilled as infill holes to target larger gaps in drillhole spacing to aid in geological interpretation and increase resource confidence. These holes intersected wide mineralized envelopes with internal high-grade zones of strong veining and vein breccias. Wider zones include: 5.54 g/t Au and 97 g/t Ag over 10.20 meters in HR24-437 and 4.48 g/t Au and 16 g/t Ag over 14.33 meters in HR24-438. Drill holes HR24-437 and HR24-438 targeted a section located 32 meters south of previously released drill hole HR23-407 which intersected 8.94 g/t Au and 191 g/t Ag over 10.72 meters length (January 16, 2024, News Release). Holes HR24-446 and HR24-448 were drilled off the same pad but at different azimuths (Figure 3). Hole HR24-446 intersected 1.71 g/t Au and 287 g/t Ag over 2.91 meters including 7.06 g/t Au, 1,580 g/t Ag, 2.25% Pb and 2.54% Zn over 0.5 meters.
Drill holes HR24-436 and HR24-439 targeted the down-dip extension of the known mineralization and are separated by 110 meters along strike (Figure 4). Drill hole HR24-439 was a 170-meter down dip test from the main mineralized plunge and indicates that mineralization continues at depth and remains open for expansion. The alteration and veining intersected in holes HR24-436 graded 1.09 g/t Au over 31.75 meters, including 11.10 g/t Au over 0.55m and HR24-439 graded 1.56 g/t Au over 28.90 meters including 12.15 g/t Au over 1.00 meters.
Figure 3. Plan View of the Homestake Silver and Main Deposits; 2024 drilling in bold lithology and red outline of mineralized zones.
The Homestake Ridge deposits are interpreted as structurally controlled, multi-phase epithermal vein stockwork and vein breccia system hosted in Jurassic Hazelton volcanic rocks. Mineralization consists of pyrite, +/-galena and sphalerite with visible gold in a breccia matrix within a silica breccia vein system (see Figure 2). The northwest orientation of the main Homestake structural trend appears to have numerous subparallel internal structures that are interpreted to form the controls for higher grade gold and silver shoots within a broader mineralized envelope at the Homestake Silver deposit. The main structural corridor dips steeply to the northeast at Homestake Main and rolls to vertical or steeply southwest at Homestake Silver.
Figure 5. Homestake Silver Cross Section (A-A’) with 2024 and previous drill holes.
Table 1. Assays from the 2024 Homestake Silver Deposit Drilling
Hole ID
From (m)
To (m)
Length (m)
Au** (g/t)
Ag (g/t)
Base Metals (%)
HR24-425
395.7
396.5
0.8
1.17
10
and
410
426.07
16.07
0.5
8
From 421.85-422.35m 1.38%Pb
including
416
419
3
1.13
8
and
450.45
454.16
3.71
2.51
3
including
451.18
452.02
0.84
8.86
6
and
459.25
476
16.75
1.38
2
including
464.5
466.5
2
1.82
2
including
472.5
474.5
2
5.78
3
HR24-426
627
628
1
1.75
3
HR24-427
560.5
561
0.5
0.37
2
HR24-428
322.58
323.18
0.6
0.68
10
and
723
734.3
11.3
0.32
NSV
including
725
727
2
1.05
NSV
HR24-429
635.6
636.1
0.5
1.97
NSV
and
697.9
706
8.1
0.48
NSV
including
700.3
700.8
0.5
2.24
8
0.73% Pb and 1.30% Zn
HR24-431
480.5
481
0.5
3.3
6
and
530.5
533.18
2.68
1.06
NSV
and
656.35
665.07
8.72
21.55
27
0.22% Cu, 2.36% Pb and 1.64% Zn
including
658.26
662
3.74
47.92
58
0.49% Cu, 5.24% Pb and 3.80% Zn
including
659.77
660.28
0.51
91.1
114
1.15% Cu, 8.00% Pb and 9.80% Zn
HR24-433
397
426.5
29.5
3.48
13
including
400.7
403
2.3
1.18
4
including
410.25
412.57
2.32
35.05
114
including
411.85
412.57
0.72
74.7
297
0.24% Cu, 0.51% Pb and 0.17% Zn
including
422.49
424.94
2.45
1.65
6
and
445.25
448.25
3
2.14
NSV
including
446.25
446.75
0.5
11.55
15
and
476
479.9
3.9
1.16
NSV
and
510
525
15
0.91
NSV
including
523.35
523.9
0.55
15.65
7
and
536.62
537.12
0.5
4.61
11
and
562
563
1
1.11
1
HR24-436
645.75
677.5
31.75
1.09
3
including
669.7
673.44
3.74
4.2
7
including
670.75
671.3
0.55
11.1
15
1.54% Zn
and
692.5
695.6
3.1
2.44
3
including
694
694.5
0.5
14.3
13
1.34% Pb and 1.79% Zn
HR24-437
285.36
296.34
10.98
0.88
12
including
290
293.72
3.72
1.88
19
and
308.41
335
26.59
1
12
including
316.32
317.45
1.13
5.62
37
including
325
325.5
0.5
8.76
13
and
342.35
352.55
10.2
5.54
97
including
345
347.4
2.4
21.34
384
including
345
345.77
0.77
42.1
1,135
2.28% Pb and 2.27% Zn
and
360.58
378.7
18.12
1.85
165
including
360.58
367.51
6.93
4.15
425
including
360.58
364
3.42
6.69
484
and
384
399.82
15.82
0.58
3
including
390
393.51
3.51
1.2
2
HR24-438
384
387.15
3.15
1.09
16
including
385.05
386.26
1.21
2.01
8
and
389.17
403.5
14.33
4.48
16
including
389.17
390.79
1.62
29.17
59
1.79% Pb and 2.40% Zn
including
393.58
394.21
0.63
9.81
11
and
417
432
15
0.96
1
including
425.2
426
0.8
8.62
4
HR24-439
690.85
719.75
28.9
1.56
5
including
693
694
1
3.31
1
including
699.99
700.49
0.5
9.55
32
2.16% Pb and 6.30% Zn
including
705.7
706.41
0.71
3.29
5
including
718.75
719.75
1
12.15
14
HR24-440
177.18
177.89
0.71
0.51
106
and
179.8
180.3
0.5
0.17
123
and
219.04
223.03
3.99
1.14
50
including
222
223.03
1.03
3.25
89
HR24-441
325.29
366.34
41.05
0.54
30
including
338
340
2
4.26
55
including
355
357
2
0.65
112
including
363
364.75
1.75
0.19
182
HR24-443
245.12
254.73
9.61
0.5
221
and
270.21
273.99
3.78
0.98
92
including
273.23
273.99
0.76
4.19
315
HR24-444
340.1
340.69
0.59
0.01
149
HR24-446
281.64
284.55
2.91
1.71
287
including
282.24
282.74
0.5
7.06
1,580
2.25% Pb and 2.54% Zn
and
316.24
344.1
27.86
0.8
3
including
323.05
323.77
0.72
3.47
3
including
337.53
338.6
1.07
7.35
5
HR24-447
567.11
567.73
0.62
0.17
150
HR24-448
292.04
294.19
2.15
0.54
423
including
292.04
292.95
0.91
1.1
786
including
297
297.82
0.82
0.31
571
and
317.26
342.29
25.03
0.7
15
including
322.12
322.72
0.6
4.2
107
and
353.15
444.35
91.2
1.88
3
including
359.14
359.88
0.74
13.9
6
including
382.92
394.2
11.28
2.57
3
including
405.67
406.24
0.57
21.7
5
including
411
412
1
36.1
12
including
413
422.59
9.59
2.59
7
HR24-449
429.99
431
1.01
1.23
1
HR24-451
507
510
3
1.23
1
and
516
522.74
6.74
0.63
1
including
521.5
522.74
1.24
2.22
1
and
540.15
541.07
0.92
3.39
1
and
552.74
554.86
2.12
3.82
2
including
554.05
554.86
0.81
9.49
3
and
567.27
571.83
4.56
0.83
1
and
578.8
586.25
7.45
0.23
12
From 580.40-582.60m: 6.68%Pb
*Estimated true widths vary depending on intersection angles and range from 55% to 75% of core lengths **Assay results reported are uncapped
Table 2. Drill Hole Collar Data for 2024 Homestake Ridge Drilling Reported in this release
Hole ID
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
HR24425
463346
6179256
901
178
-53
501
HR24426
463430
6179428
841
228
-48
774
HR24427
463553
6179233
832
227
-54
669
HR24428
463539
6179288
828
229
-52
792
HR24429
463553
6179233
832
228
-52
720
HR24430
462402
6179054
1333
260
-48
438
HR24431
463539
6179288
828
225
-45
750
HR24433
463553
6179233
832
228
-46
636
HR24436
463716
6179084
792
224
-45
750
HR24437
463672
6178796
835
226
-54
447
HR24438
463672
6178796
835
222
-60
585
HR24439
463716
6179084
792
238
-46
756
HR24440
463717
6178701
830
224
-52
393
HR24441
463717
6178701
830
227
-62
501
HR24443
463772
6178667
801
224
-52
450
HR24444
463772
6178667
801
221
-57
495.9
HR24446
463490
6179012
879
213
-55
600
HR24447
464035
6178571
734
231
-45
671
HR24448
463490
6179012
879
229
-60
594
HR24449
463430
6179428
841
222
-45
711
HR24450
464642
6176803
973
60
-55
306
HR24451
463539
6179288
828
224
-45
691.4
HR24452
468232
6167663
267
250
-60
63
Exploration Drilling
Three (3) early-stage exploration drill holes were completed on three different targets across the property testing for possible mineralization at depth on mapped structures. Complete results are presented in Table 3.
Table 3. Assays from the 2024 Homestake Ridge Exploration Drilling
Target
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Blue Ribbon
HR24430
190.00
195.38
5.38
0.53
NSV
including
192.65
193.45
0.80
1.83
NSV
and
318.21
321.02
2.81
0.64
NSV
including
318.21
319.05
0.84
1.21
NSV
and
325.00
325.75
0.75
0.76
NSV
Homeguard
HR24452
NSV
Vanguard Copper
HR22450
NSV
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen assays may be completed on very high grade samples.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2024 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) dated August 22, 2024 and management information circular dated August 22, 2024 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that the Company has, pursuant to Royalty Agreement (“Agreement”) announced on January 6, 2025 with Minera Pampa de Cobre S.A.C. (“MPC”), acquired the additional 1% Net Smelter Returns (“NSR”) royalty interest on the Chapi Copper Mine Property for US$7,000,000. MPC is owned indirectly by a privately held Canadian company, Quilla Resources Inc.
EMX now holds a 2% NSR royalty on the Chapi Copper Mine Property, for a total consideration of US$10,000,000. The Agreement includes a 2% NSR royalty on minerals produced from the approximately 26,000 hectare property (“Property Royalty”) owned by MPC, as well as a 2% NSR royalty from any minerals that are produced from outside the Property Royalty area, but that are processed at the Chapi Mine processing facilities. The Agreement also includes a two-kilometer area of interest (“AOI”) around the Property Royalty area, and any property acquired by MPC within this AOI will also be subject to a 2% NSR royalty.
For more information on the Royalty Agreement and the Chapi Copper Mine Property, please refer to the Company’s news release published on January 6, 2025.
About EMX – EMX is a precious and base 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.
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.
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 September 30, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, 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.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.
Kelowna, British Columbia–(Newsfile Corp. – February 3, 2025) – F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that it has started drilling as part of the $6 million 2025 winter exploration program on the PLN Project, with the initial focus of JR Zone expansion drilling on the PLN Property on an area where drillhole PLN24-176 returned 7.5m of 30.9% U3O8 including 4.5m of 50.1%U3O8 (see NR December 3, 2024). Initially, exploration drilling for a new zone of mineralization will begin on the continuation of the A1 structure around PLN24-152 – an exploration hole with the best geochemistry to date – where a 7m mineralized interval assayed up to 0.051% U3O8 (see NR July 30, 2024), approximately 2,800m south of the JR Zone.
Sam Hartmann, Vice President Exploration, commented:
“We are excited to get back to work and continue drill exploration at the PLN property; this will consist of JR Zone drilling in high reward areas where we stand to add value, starting with the exceptional high grade cored in PLN24-176. Exploration drilling will start by following up on high priority areas defined during the 2024 program based on radioactivity and geochemistry results. Due to our unique methodology of drilling by pre-casing drill holes with a sonic rig and the diamond drill following, the drilling sequence will be variable and go back-and forth between zone drilling and exploration. Meanwhile we are still waiting for assay results from 25 drill holes from the 2024 season including both JR Zone and exploration holes and will release those as they come available. These results will also be used for the planning of further exploration drilling.”
Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.
The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.
All depth measurements reported are down-hole and true thicknesses are yet to be determined.
About the Patterson Lake North Property:
The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Paladin’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits, an area poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Paladin’s Triple R deposit.
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 approved on behalf of the company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp.:
F3 Uranium is a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.
Forward-Looking Statements
This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.
F3 Uranium Corp. 750-1620 Dickson Avenue Kelowna, BC V1Y9Y2 Contact Information Investor Relations Telephone: 778 484 8030 Email: ir@f3uranium.com
ON BEHALF OF THE BOARD “Dev Randhawa” Dev Randhawa, CEO
North Vancouver, British Columbia–(Newsfile Corp. – January 30, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 3,791.3 metres of underground grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on Zone 2 and targeted the URW and Murau lode systems.
All drilling was completed from existing near surface underground workings. The Company intersected high-grade mineralized structures in 25 holes. Most of the drill holes did not exceed 130 metres in length from underground drill stations. Drill results include multiple bonanza grade gold assays over narrow widths such as 168.3 g/t over 0.4 m, 158.0 g/t over 0.3 m, 145.5 g/t over 0.4 m, 123.5 g/t over 0.6 m, and 119.5 g/t over 0.4 m, all of which are located near existing underground workings. These bonanza grade gold results occur within larger intervals of high-grade mineralization, such as 6.7 m of 25.45 g/t gold, and 4.7 m of 26.89 g/t gold.
The Zone 2 drilling targeted two separate mineralized systems: the URW system and the Murau system. The URW drilling primarily targeted the downdip extension of the URW1 stockwork zone below the 1101 level, while the Murau drilling primarily targeted mineralization below the 1095 level. Both programs intersected high grade mineralization, indicating that both systems extend down vertically below current mining levels. Due to the proximity of these results to active mining levels, these results are anticipated to be incorporated into the mine plan in the next six to twelve months. Notably, the headline intersect of 6.7 m of 25.45 g/t gold is located within the high-grade roscoelite zone, just 10 m below current mining activities in the 1095 level (see press releases dated November 12, 2024 and November 19, 2024 ).
Lion One Chairman and CEO Walter Berukoff commented: “We’re extremely pleased with the new results from our Zone 2 grade control drill program. These drill results are in close proximity to our active mine headings and we’re excited to incorporate them into our near-term mine plan. Together with the high-grade Zone 5 results released last week, we continue to advance Tuvatu on multiple fronts and we look forward to advancing the mine to new levels underground.”
Highlights of New Drill Results:
25.45 g/t Au over 6.7 m (including 145.5 g/t Au over 0.4 m) (TGC-0276, from 45.1 m depth)
26.89 g/t Au over 4.7 m (including 78.0 g/t Au over 0.85 m) (TGC-0264, from 36.8 m depth)
36.94 g/t Au over 2.5 m (including 158.0 g/t Au over 0.3 m) (TGC-0312, from 46.5 m depth)
13.97 g/t Au over 6.6 m (including 54.5 g/t Au over 0.3 m) (TGC-0260, from 31.45 m depth)
45.95 g/t Au over 1.8 m (including 123.5 g/t Au over 0.55 m) (TGC-0308, from 43 m depth)
168.25 g/t Au over 0.4 m (TGC-0276, from 18.5 m depth)
29.23 g/t Au over 2.1 m (including 37.43 g/t Au over 0.9 m) (TGC-0353, from 27.9 m depth)
21.48 g/t Au over 2.7 m (including 119.5 g/t Au over 0.42 m) (TGC-0344, from 70.2 m depth)
12.47 g/t Au over 3.8 m (including 49.86 g/t Au over 0.45 m) (TGC-0264, from 57.2 m depth)
10.82 g/t Au over 3.7 m (including 19.51 g/t Au over 0.6 m) (TGC-0276, from 39.9 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.
Figure 1. Location of the Zone 2 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 2 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Right image: Section view of Zone 2 drilling looking northeast. Zone 2 drilling primarily targeted the Murau and URW lode systems below current mine levels.
The Zone 2 area of Tuvatu is located in the northwest part of the deposit, near the main portal. The URW and Murau lode systems are the primary mineralized systems in Zone 2, and they are both actively being mined. A total of 35 drill holes are reported in this news release, including 23 targeting the URW system and 12 targeting the Murau system.
The URW system consists of multiple closely spaced steeply dipping high grade mineralized lodes trending in a north-south direction. Within this system lies the URW1 stockwork zone, which consist of two steeply dipping lodes enveloped within a stockwork zone of gold-bearing veinlets. Four levels of underground mining have been completed within the URW1 stockwork zone; the 1161, 1141, 1121, and 1101 levels. Long hole open stope mining is taking place between these levels. The URW drilling reported here was conducted from the 1116 drill station underground and consists of a series of drill holes oriented in a fan from east to southeast. The drill program primarily targeted the down dip extension of the URW1 stockwork zone below the 1101 level along a 120 m strike length from north to south. High- and bonanza-grade results were intersected in multiple drill holes, indicating the continuation of the system below current mine workings (see Figure 2).
The Murau system consists of a series of high-grade flat to moderately flat mineralized structures located between the steeply dipping URW1 stockwork zone to the east and the steeply dipping Ura lode system to the west. The Murau structures are known as ”flatmakes”[1] and have abundant roscoelite mineralization. They Murau flatmakes are a major component of the high-grade roscoelite zone that was identified in 2024. The first such flatmake is being actively mined along the 1095 level in Zone 2 where a 120 m strike length of the system has been exposed. The Murau drilling reported here was conducted from the 1121 drill station underground. Drilling consists of a series of drill holes oriented in a fan from the north to the northwest. The primary target of the drilling was mineralization below the 1095 level, with several drillholes also targeting mineralization above the 1095 level. High grade mineralization was intersected both above and below the 1095 level, with 6.7 m of 25.45 g/t gold intersected within 10 m below the 1095 level indicating the potential for additional flatmakes below the 1095 level (see Figure 3).
The purpose of the current Zone 2 URW and Murau grade control drill programs are to enhance the mine model and inform stope design in advance of mining in these areas. The majority of the high-grade intervals reported in this release are located within 30 m of underground developments and are anticipated to be included in the mine plan in 2025. Both the URW1 and Murau drill programs have successfully intersected high-grade gold mineralization in close proximity below current underground workings. Highlights of the Zone 2 drilling reported here are shown in Figure 2 and Figure 3.
Figure 2. Zone 2 URW grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Oblique view looking down to the north. The URW grade control drilling in Zone 2 was oriented in a fan from the east to the south and primarily targeted the down-dip extension of the URW1 stockwork zone below the 1101 level, as well as the extensions of the system to the north and to the south.
Figure 3. Zone 2 Murau grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Section view looking east-northeast. The Murau grade control drilling in Zone 2 targeted mineralization in the roscoelite zone below the 1095 level, as well as the gap between the Murau and URW1 lode systems. The headline drill intercept of 6.7 m of 25.45 g/t gold is located within 10 m below the 1095 level and is scheduled for mining in the near term.
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and has been reviewed and approved by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Appendix 1: Full Drill Results and Collar Information
Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0253
1876320
3920738
123
10.3
-35.7
110.6
TGC-0258
1876320
3920738
122
10.1
-50.1
85.0
TGC-0260
1876320
3920739
122
10.6
-15.9
100.0
TGC-0262
1876320
3920739
123
10.5
0.0
101.0
TGC-0264
1876320
3920740
125
11.2
21.1
105.2
TGC-0266
1876319
3920738
123
353.8
-24.3
106.2
TGC-0270
1876317
3920736
121
295.7
-54.9
75.0
TGC-0272
1876317
3920736
121
295.5
-70.6
55.3
TGC-0274
1876316
3920737
122
300.6
-39.1
100.0
TGC-0276
1876316
3920729
121
320.2
-39.3
75.6
TGC-0280
1876317
3920728
121
322.8
-50.8
75.0
TGC-0283
1876317
3920729
121
339.1
-50.4
75.3
TGC-0285
1876298
3920812
121
103.6
10.9
90.2
TGC-0290
1876298
3920813
121
83.7
13.2
91.7
TGC-0293
1876298
3920813
120
90.0
-5.7
275.4
TGC-0298
1876298
3920812
120
107.0
-13.9
275.0
TGC-0305
1876289
3920808
119
157.3
-30.0
41.4
TGC-0308
1876287
3920806
119
157.9
-28.7
150.0
TGC-0312
1876287
3920806
119
156.4
-24.8
165.3
TGC-0314
1876288
3920807
119
149.6
-26.1
146.4
TGC-0317
1876288
3920808
120
135.1
-11.3
63.2
TGC-0320
1876288
3920807
119
135.5
-24.2
127.0
TGC-0322
1876288
3920807
119
132.1
-28.9
127.0
TGC-0324
1876288
3920808
120
129.3
-22.7
122.7
TGC-0328
1876288
3920807
120
134.2
-6.3
71.5
TGC-0329
1876287
3920806
118
166.1
-35.1
148.3
TGC-0334
1876287
3920806
118
102.0
-9.0
10.6
TGC-0337
1876292
3920809
119
118.1
-23.3
118.7
TGC-0340
1876292
3920809
119
117.4
-28.4
122.5
TGC-0344
1876295
3920810
119
109.2
-27.0
117.3
TGC-0348
1876298
3920811
120
103.3
-8.3
7.8
TGC-0350
1876298
3920811
119
102.7
-19.2
110.0
TGC-0353
1876298
3920811
120
102.3
-8.7
108.0
TGC-0357
1876298
3920811
119
106.9
-34.5
121.0
TGC-0362
1876298
3920812
119
98.3
-31.0
116.1
Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).
Hole ID
From (m)
To (m)
Width (m)
Au (g/t)
TGC-0260
30.0
30.4
0.4
26.50
31.5
38.0
6.6
13.97
including
31.5
31.8
0.3
17.06
and
31.8
32.4
0.7
5.68
and
32.4
33.6
1.2
16.99
and
33.6
33.9
0.3
54.50
and
33.9
34.7
0.8
47.20
and
34.7
35.4
0.7
0.04
and
35.4
36.0
0.7
4.13
and
36.0
36.8
0.8
1.93
and
36.8
38.0
1.2
5.33
39.3
40.0
0.7
3.75
TGC-0262
24.0
24.3
0.3
3.46
45.0
45.3
0.3
6.94
46.5
47.2
0.7
5.04
TGC-0264
36.8
41.5
4.7
26.89
including
36.8
37.1
0.3
10.85
and
37.1
38.3
1.2
16.77
and
38.3
39.5
1.2
13.50
and
39.5
40.0
0.5
0.08
and
40.0
40.9
0.9
78.00
and
40.9
41.5
0.7
31.47
44.4
47.2
2.8
7.94
including
44.4
45.0
0.6
9.77
and
45.0
45.3
0.3
2.23
and
45.3
45.9
0.6
3.22
and
45.9
46.2
0.3
18.99
and
46.2
46.9
0.7
9.37
and
46.9
47.2
0.3
5.31
57.2
61.0
3.8
12.47
including
57.2
57.8
0.6
9.37
and
57.8
58.4
0.6
0.62
and
58.4
58.9
0.5
49.86
and
58.9
59.2
0.3
0.40
and
59.2
59.5
0.3
8.59
and
59.5
59.8
0.3
33.44
and
59.8
60.4
0.7
5.13
and
60.4
61.0
0.6
4.83
TGC-0270
45.4
46.6
1.2
19.55
TGC-0274
29.0
29.7
0.7
27.68
including
29.0
29.4
0.4
26.54
and
29.4
29.7
0.3
29.20
38.3
39.2
0.9
3.90
44.7
45.7
1.0
4.12
53.8
56.2
2.4
5.36
including
53.8
54.6
0.8
8.78
and
54.6
54.9
0.3
1.52
and
54.9
55.4
0.5
1.63
and
55.4
55.8
0.4
8.29
and
55.8
56.2
0.4
3.64
58.1
59.0
0.9
7.02
including
58.1
58.4
0.3
6.88
and
58.4
59.0
0.6
7.09
60.1
64.1
4.0
4.38
including
60.1
60.4
0.3
7.87
and
60.4
61.3
0.9
0.36
and
61.3
61.6
0.3
3.70
and
61.6
62.2
0.6
9.13
and
62.2
62.9
0.7
4.65
and
62.9
63.3
0.4
0.25
and
63.3
64.1
0.8
6.12
TGC-0276
18.5
18.9
0.4
168.25
39.9
43.6
3.7
10.82
including
39.9
40.8
0.9
9.00
and
40.8
41.1
0.3
12.00
and
41.1
41.7
0.6
19.51
and
41.7
42.7
1.0
0.44
and
42.7
43.6
0.9
17.99
45.1
51.8
6.7
25.45
including
45.1
45.4
0.3
66.44
and
45.4
46.2
0.8
8.25
and
46.2
46.5
0.3
67.29
and
46.5
46.9
0.4
13.36
and
46.9
47.2
0.3
12.58
and
47.2
47.6
0.4
23.10
and
47.6
48.0
0.4
145.50
and
48.0
48.6
0.6
13.66
and
48.6
49.6
1.0
4.04
and
49.6
50.1
0.5
47.73
and
50.1
50.8
0.7
6.76
and
50.8
51.8
1.0
5.48
TGC-0285
13.8
14.4
0.6
52.57
63.1
63.4
0.3
12.39
TGC-0290
41.7
43.0
1.3
10.85
including
41.7
42.0
0.3
20.38
and
42.0
42.7
0.7
5.93
and
42.7
43.0
0.3
12.79
45.4
46.0
0.6
6.18
58.4
61.0
2.6
10.76
including
58.4
59.2
0.8
24.33
and
59.2
60.4
1.2
4.97
and
60.4
61.0
0.6
4.24
62.2
62.5
0.3
6.90
TGC-0293
48.0
49.2
1.2
9.43
including
48.0
48.6
0.6
14.89
and
48.6
49.2
0.6
3.97
128.0
130.2
2.2
3.02
including
128.0
129.0
1.0
3.09
and
129.0
129.6
0.6
2.10
and
129.6
130.2
0.6
3.83
162.8
165.2
2.4
5.22
including
162.8
163.1
0.3
21.04
and
163.1
163.6
0.5
0.40
and
163.6
164.4
0.8
3.46
and
164.4
165.2
0.8
4.07
169.1
170.0
0.9
5.18
TGC-0298
23.8
24.2
0.4
19.57
56.6
57.5
0.9
8.50
65.4
65.7
0.3
8.48
TGC-0305
5.1
6.7
1.6
11.76
including
5.1
5.4
0.3
4.24
and
5.4
6.0
0.6
26.29
and
6.0
6.3
0.3
1.41
and
6.3
6.7
0.4
3.38
8.8
9.7
0.9
11.85
TGC-0308
4.6
4.9
0.3
3.30
5.6
5.9
0.3
3.15
10.1
10.5
0.4
5.58
11.6
12.5
0.9
6.81
including
11.6
12.0
0.4
9.95
and
12.0
12.5
0.5
4.30
43.0
44.8
1.8
45.95
including
43.0
43.3
0.3
6.21
and
43.3
43.6
0.3
0.18
and
43.6
44.2
0.6
123.50
and
44.2
44.5
0.3
29.20
and
44.5
44.8
0.3
6.03
52.6
53.8
1.2
5.70
57.2
58.4
1.2
4.78
122.6
122.9
0.3
7.08
TGC-0312
4.5
5.4
0.9
3.58
9.3
10.5
1.2
4.07
37.4
37.7
0.3
6.15
46.5
49.0
2.5
36.94
including
46.5
47.2
0.7
17.52
and
47.2
47.5
0.3
48.99
and
47.5
47.8
0.3
158.00
and
47.8
48.4
0.6
25.72
and
48.4
49.0
0.6
4.27
53.5
54.7
1.2
31.28
59.6
59.9
0.3
3.36
TGC-0314
3.4
3.7
0.3
8.36
4.9
6.0
1.1
4.07
51.6
51.9
0.3
3.20
57.8
59.7
1.9
11.67
including
57.8
58.7
0.9
17.99
and
58.7
59.4
0.7
2.32
and
59.4
59.7
0.3
15.36
TGC-0317
2.1
2.5
0.4
4.39
6.1
6.4
0.3
8.93
41.6
41.9
0.3
6.27
47.9
48.2
0.3
4.56
55.9
56.7
0.8
8.12
TGC-0320
3.8
5.8
2.0
4.27
including
3.8
4.3
0.5
7.36
and
4.3
4.6
0.3
1.05
and
4.6
5.3
0.7
<0.01
and
5.3
5.8
0.5
9.10
54.2
56.0
1.8
6.22
including
54.2
55.1
0.9
8.98
and
55.1
56.0
0.9
3.46
82.4
83.0
0.6
9.95
113.9
114.5
0.6
8.48
including
113.9
114.2
0.3
12.79
and
114.2
114.5
0.3
4.16
TGC-0322
123.8
125.6
1.8
6.67
including
123.8
124.1
0.3
3.70
and
124.1
124.4
0.3
0.01
and
124.4
124.7
0.3
2.16
and
124.7
125.0
0.3
9.82
and
125.0
125.6
0.6
11.98
TGC-0324
95.5
95.8
0.3
72.59
TGC-0328
20.0
21.0
1.1
6.16
including
20.0
20.4
0.4
3.65
and
20.4
21.0
0.6
7.77
42.6
44.5
1.9
4.98
including
42.6
43.8
1.2
5.20
and
43.8
44.5
0.7
4.63
53.7
56.3
2.6
11.14
including
53.7
54.0
0.3
6.20
and
54.0
54.3
0.3
1.41
and
54.3
55.0
0.7
23.57
and
55.0
55.3
0.3
9.03
and
55.3
56.0
0.7
6.71
and
56.0
56.3
0.3
10.26
67.4
68.3
0.9
4.98
TGC-0329
11.2
11.5
0.3
3.32
31.7
32.3
0.6
5.00
57.5
58.6
1.1
8.91
133.9
134.2
0.3
14.65
TGC-0344
70.2
72.9
2.7
21.48
including
70.2
71.0
0.8
5.60
and
71.0
71.5
0.5
0.10
and
71.5
71.9
0.4
119.50
and
71.9
72.9
1.0
3.27
TGC-0350
62.3
63.5
1.2
10.43
including
62.3
62.6
0.3
23.99
and
62.6
63.5
0.9
5.91
TGC-0353
27.9
30.0
2.1
29.23
including
27.9
28.8
0.9
37.43
and
28.8
30.0
1.2
23.08
33.3
33.6
0.3
3.46
38.7
39.1
0.4
3.53
54.3
55.3
1.0
7.38
including
54.3
54.6
0.3
9.95
and
54.6
55.0
0.4
0.85
and
55.0
55.3
0.3
14.38
64.0
65.0
0.9
9.72
including
64.0
64.4
0.3
3.16
and
64.4
65.0
0.6
13.45
TGC-0357
75.1
75.4
0.3
6.30
TGC-0362
68.7
69.3
0.6
30.10
including
68.7
69.0
0.3
23.75
and
69.0
69.3
0.3
36.44
1 Flatmakes are flat-dipping mineralized vein structures. The term is a Fijian mining term commonly used at the Vatukoula gold mine northeast of Tuvatu. At Vatukoula, flatmakes have been reported to have hundreds of meters of strike length.
Diamcor Mining has received an investment from a Dubai-based diamond manufacturer that will allow it to advance various projects at its South African operation.
The mining company, which operates the Krone-Endora at Venetia project, will use the funds to expedite the processing of previously stockpiled oversized material, increase processing volume, and develop work programs it currently has underway, it said Monday. It will also further its bulk sampling.
Diamcor did not provide the name of the Dubai-based company but did note it was a “manufacturer and supplier of bridal and anniversary diamonds to the global market.” The miner also said the manufacturer would not receive shares in Diamcor in return for the funding.
“This financing is the result of long-term relationships we have developed with key associates in Dubai over many years and the mutual vision our companies share on the merits of building a growing supply of gem-quality non-conflict natural rough diamonds for the luxury-jewelry sector,” said Diamcor CEO Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well-positioned and ready for this anticipated recovery.”
PHILADELPHIA, PA and VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the second and final tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 12,255,000 units (the “Units”) at a price of $0.10 per unit in the second tranche of the Financing, generating gross proceeds of $1,225,500.
The total gross proceeds raised from the first and second tranches of the Financing amounted to $2,024,500.
Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of $0.20 for a period of two years from closing.
All securities issued under the second tranche of the Financing are subject to a four month and one day hold period expiring on May 30, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.
Two insiders of Jericho acquired an aggregate 1,700,000 Units in the second tranche of the Financing (the “Insider Participation”).
The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.
Net proceeds from the Financing will be used for general working capital purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Jericho Energy Ventures Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
