Categories
Base Metals Energy Junior Mining

Rover Metals to Change Its Name to Rover Critical Minerals

VANCOUVER, BC / ACCESSWIRE / January 31, 2024 / Rover Metals Corp. (TSXV:ROVR)(OTCQB:ROVMF)(FSE:4XO) (“Rover” or the “Company“) is pleased to announce that it is changing its name to Rover Critical Minerals Corp. The name change marks the Company’s successful pivot into critical minerals exploration, a process which started in January 2022. Trading will commence under the new name on Monday February 5, 2024. The Company’s shares will continue to trade under the symbol ROVR on the TSXV; ROVMF on the OTCQB; and 4XO on the FSE.

New ISIN/CUSIP numbers reflecting the name change have been made eligible. The Company’s transfer agent, Computershare, can be contacted with any further questions. Effective Monday February 5, 2024, the Company’s will be launching a new website with a new URL of www.rovercriticalmierals.com. Officers and Directors of the Company will continue to use their existing emails and gradually migrate to new email domain over the coming months.

Judson Culter, CEO at Rover Metals, states “Management and Directors at Rover are doubling down on our pivot into critical minerals. We remain resolute in our focus on advancing the Let’s Go Lithium project in the Amargosa Valley of Nevada.”

LGL Project

The LGL project is a claystone sedimentary lithium project located in a flat playa in an ancient volcanic lakebed. The claim block, which is approximately 8,300 acres in size, includes several limestone-capped butte-like outcrop formations. As released on September 7, 2023, a successful Phase 1 surface sampling program has returned multiple high-grade surface lithium samples. The clay body, as it’s known today, is believed to have very little overburden, and at the southern boundary of the project the lithium rich clay is exposed at the surface, or above surface in butte outcrops. Project infrastructure includes hydro power lines on site, direct road access, access to the Union Pacific rail line, and the nearby town of Pahrump with a readily available work force.

LGL Property Map

Regional Geology

The project is located within the prolific southwest Nevada claystone lithium jurisdiction. LGL is located just 12 km away from the historic Franklin Wells hectorite (a rare lithium smectite mineral) deposit. Mining at Franklin Wells dates back to the 1920’s. The regional geology of the Amargosa Valley is a basin-and-range structure with the Greenwater Range and Funeral Mountains to the west and the Amargosa Desert to the east. The Greenwater/Funeral mountains are fault-controlled with narrow interior valleys and are bounded by broad, coalescing alluvial fans. The Greenwater/Funeral mountains are composed of lower Paleozoic marine and metamorphic rocks. LGL is located in a large basin of clay rich Tertiary lakebed sediments, the major host rock for the other lithium claystone deposits in the southwest Nevada lithium jurisdiction. Lhoist North America has been open pit mining the specialty clays in the area since 1974.

Later-stage company comparable claystone lithium projects in southwest Nevada include Century Lithium Corp.’s Clayton Valley project; American Lithium’s TLC project; Noram Lithium’s Zeus project, and Nevada Lithium’s Bonnie Claire project. All of the aforementioned companies are later-stage mining companies, with a NI 43-101 resource calculation.

About Rover Metals

Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of the U.S. and Canada.

Swiss Business Development Consultant

In May 2023, the Company hired a Switzerland, based consultant (the “Consultant”) to provide business development consulting services in the key mining markets of England, France, Germany, and Switzerland. The Consultant’s roles and responsibilities include traveling through-out central Europe representing the Company at mining events. Further to its release of May 26, 2023, the Company is issuing 150,000 common shares in the Company for services provided by the Consultant. The Consultant is independent (arm’s length) to the Company. The share-based payment is for the payment of consulting services for the period of October 1st to December 31st, 2023. The Company has received approval from the Toronto Venture Exchange to make the issuance, pursuant to the common shares bearing the standard four-month regulatory hold period from the date of issuance.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals

LinkedIn: https://www.linkedin.com/company/rover-metals/

Facebook: https://www.facebook.com/RoverMetals/

for daily company updates and industry news, and

YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber

for corporate videos.

Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS

“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:

Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause Rover’s actual results, performance, achievements, or developments in the industry to differ materially from the anticipated results, performance, or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates, opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

SOURCE: Rover Metals Corp.



View the original press release on accesswire.com

Categories
Base Metals Energy Junior Mining Project Generators

F3 Hits 2.05m Off Scale >65,535 CPS in First Hole of Winter Program at JR Zone

Kelowna, British Columbia–(Newsfile Corp. – January 30, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3” or the “Company“) is pleased to announce initial scintillometer results from the first completed drill hole of the current winter drill program on the Patterson Lake North (“PLN”) Property, which includes two high-grade intercepts. Drill hole PLN24-116 tested for mineralization between PLN23-061 (see NR dated May 15, 2023) and PLN23-074 (see NR dated November 13, 2023) on section line 075S and intersected mineralization within a 16.5m interval including 2.05m of off scale radioactivity (>65,535 cps), 1.80m of which is continuousA thin, lower mineralized zone up to 23,600 cps starting at 272.00m was also intersected and marks the first intersection of strong radioactivity below the JR Zone.

A second diamond drill has also begun coring on the JR Zone before moving approximately 3km grid south to start exploration in the B1 area where drill holes from last year provided strongly encouraging results including significant alteration, structures and highly anomalous geochemistry.

As the Dias 3D resistivity survey is days away from being completed, preparations are underway at site for the next phase of ground geophysics. A stepwise moving loop time domain electromagnetics (SWML) survey totaling approximately 60 line-km will be conducted over the B1 area, with ideal loop size parameters to properly resolve the basement hosted B1 conductor. This new survey will update and refine the Company’s electromagnetic plate model, which will then be integrated with the resistivity data to provide additional drill targets.

Drilling Highlight:

PLN24-116 (line 075S):

  • 16.5m mineralization from 224.0m – 240.5m, including
    • 6.05m composite high-grade radioactivity (> 10,000 cps) between 224.85 and 232.40m, including
    • 2.05 composite off-scale radioactivity (> 65,535 cps) between 227.00 and 231.25m, and
    • 0.5m mineralization from 272.00m – 272.5m with up to 23,600 cps

Natural gamma radiation in the drill core that is reported in this news release was measured in counts per second (cps) using a handheld Radiation Solutions RS-125 scintillometer. The Company considers greater than 300 cps on the handheld spectrometer as anomalous, >10,000 cps as high grade and greater than 65,535 cps as off-scale. 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 on site and are standardized at 0.5m lengths. One half of the split sample will be submitted to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. for lithogeochemical analysis using their “Uranium Package”.

All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

Table 1. Drill Hole Summary and Handheld Spectrometer Results

Collar Information* Hand-held Spectrometer Results On Mineralized Drillcore (>300 cps / >0.5m minimum)Athabasca Unconformity Depth (m)Total Drillhole Depth (m)
Hole IDSection LineEastingNorthingElevationAzDipFrom
(m)
To
(m)
Interval (m)Max CPS
PLN24-116075S587757.96410697.1546.054.6-64.9224.00224.500.503100196.0311
       224.50224.850.354200  
       224.85225.000.1514600  
       225.00225.500.504600  
       225.50226.000.5024100  
       226.00226.500.5020200  
       226.50227.000.5022200  
       227.00227.500.50>65535  
       227.50228.000.50>65535  
       228.00228.500.50>65535  
       228.50228.800.30>65535  
       228.80229.000.2063500  
       229.00229.500.5037800  
       229.50230.000.503000  
       230.00230.500.508600  
       230.50231.000.5051800  
       231.00231.250.25>65535  
       231.25231.500.2561000  
       231.50232.000.5058700  
       232.00232.400.4031200  
       232.40232.500.104100  
       232.50233.000.502500  
       233.00233.500.505800  
       233.50234.000.501800  
       234.00234.500.50530  
       234.50235.000.50450  
       235.00235.500.50310  
       235.50236.000.501100  
       236.00236.500.5690  
       236.50237.000.5500  
       237.00238.501.5<300  
       238.50239.000.5670  
       239.00239.500.5<300  
       239.50240.000.5300  
       240.00240.500.5350  
       272.00272.250.2523600  
       272.25272.500.252900  

Handheld spectrometer composite parameters:

1: Minimum Thickness of 0.5m
2: CPS Cut-Off of 300 counts per second
3: Maximum Internal Dilution of 2.0m

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare 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 advancing the newly discovered high grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become the next Uranium producer and home to large uranium deposits including Tiple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.

Contact Information

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD

“Dev Randhawa”
Dev Randhawa, CEO

See cross section at PLN JR Zone|F3 Uranium Corp. under “Sections”

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, the intention to spin out the Properties; the creation of F4; the Arrangement, including timing thereof; the transfer of the Properties and the distribution of shares pursuant to the Arrangement; the intention to list the shares of F4 on the TSXV; F3’s proposed strategic investment into F4; the Arrangement being subject to court, TSXV and shareholder approvals; the preparation and delivery of a management information circular setting forth details of the Arrangement; the completion of the Spin-Out and the Listing; the potential benefits to shareholders and other matters relating to the Arrangement. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved.

Forward-looking statements or forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; court, TSXV and shareholder approval for the Arrangement; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196151

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX acquires a royalty over the Mustajärvi gold discovery in Finland

Vancouver, British Columbia–(Newsfile Corp. – January 30, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of a purchase agreement with Aurora Exploration OY (“Aurora”), a private Finish company, for Aurora’s royalty interest covering the Mustajärvi gold project in Finland (the “Project”). The Mustajärvi project is located in the prolific Central Lapland Greenstone Belt in northern Finland, which hosts several recent gold discoveries as well as the Kittila Gold Mine, operated by Agnico Eagle Mines Ltd. The Mustajärvi project is currently being advanced by Firefox Gold Corporation (“Firefox”).

The Mustajärvi project was originally acquired by Aurora in 2017 and subsequently sold to Firefox. Further exploration and drilling by Firefox led to the discovery of significant gold mineralization within the Project area (see various news releases by Firefox between 2018 and 2023). As part of the transaction with Firefox, Aurora retained a 1% NSR royalty, to be acquired by EMX. Half of the NSR royalty (0.5%) can be repurchased by Firefox for US$500,000 upon receipt of a positive feasibility study. Further information on the project can be found at Firefox’s website (www.firefoxgold.com) and in the Project’s 2018 NI-43-101 Technical Report, which has been filed on SEDAR.

Firefox recently announced a partnership with Agnico Eagle Mines Ltd, including a private placement into Firefox (see Firefox News Release dated December 20, 2023). In its announcement, Firefox reported that proceeds from the private placement will be used to further advance and drill the Mustajärvi project.

Commercial Terms Overview: As consideration for the royalty interest, EMX has paid Aurora US$80,000 and will issue 30,000 common shares of the Company to Aurora, subject to receiving final acceptance from the TSX Venture Exchange. These are the sole considerations for the purchase of the royalty.

Overview of the Project. The Mustajärvi project is located in Northen Finland in the Central Lapland Greenstone Belt and is hosted within the Mustajärvi shear-zone (MSZ). The MSZ lies between the regional Venejoki and Sirkka shear zones, which host numerous gold occurrences and deposits including Rupert Resources’ recent Ikkari gold discovery.

Gold mineralization at Mustajärvi appears to be developed within “dilational jogs” along the MSZ. Drill defined zones of mineralization have now been reported over a 2.1km trend. The mineralization chiefly occurs as quartz-carbonate-tourmaline veins along contacts between intercalated siliciclastic meta-sediments and mafic-ultramafic volcanic rocks, a common control of gold mineralization in the region. The currently defined zones of mineralization remain open along strike at both ends of the trend as well as at depth.

Recent exploration activities concentrated on the “East Target”, where Firefox reported the discovery of a new zone of gold mineralization in 2022-2023. Drill intercepts in the East Target include hole 22MJ006 with 13.85 meters of 28.74 g/t Au from an in-hole depth of 24.15 meters, 22MJ021 with 15.5 meters of 13.09g/t Au from an in-hole depth of 11 meters and hole 23MJ004 with 20.45 meters of 5.14 g/t Au from an in-hole depth of 12 meters1. Elsewhere on the property, significant intercepts include drill hole 21MJ010 with 16.45 meters at 7.69 g/t Au from an in-hole depth of 154.15 meters1. Firefox and previous explorers have drilled a combined total of 14,158 meters on the property so far.

Comments on Nearby and Adjacent Properties. The deposits, projects and mines discussed in this news release provide context for the Project, which occurs in a similar geologic setting, but this is not necessarily indicative that the Project hosts similar quantities, grades or styles of mineralization.

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

About EMX. EMX is a precious, base and battery metals royalty company that specializes in generating and acquiring royalty interests. 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”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@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.

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, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, 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



Figure 1. Location of the Project

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/196134_652a150a5422085b_002full.jpg


1 In its news releases dated September 9, 2021, September 6, 2022, January 18, 2023 and July 18, 2023 Firefox has reported that “drilling is believed to be perpendicular to the dip of the mineralization, however true widths are not yet known and will be confirmed with additional drilling and geologic modelling.” Although these results were reported in compliance with NI43-101 protocols and are believed to be reliable and relevant, EMX has not performed sufficient work to verify the published assay results.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/196134

Categories
Base Metals Energy Junior Mining

Visualizing All the Nuclear Waste in the World

Visualizing All the Nuclear Waste in the World

Originally posted on the Decarbonization Channel. Subscribe to the free mailing list to be the first to receive decarbonization-related visualizations, with a focus on the U.S. power sector.

Nuclear power is among the safest and cleanest sources of electricity, making it a critical part of the clean energy transition.

However, nuclear waste, an inevitable byproduct, is often misunderstood.

In collaboration with the National Public Utilities Council, this graphic shows the volume of all existing nuclear waste, categorized by its level of hazardousness and disposal requirements, based on data from the International Atomic Energy Agency (IAEA).

Storage and Disposal

Nuclear provides about 10% of global electricity generation.

Nuclear waste, produced as a result of this, can be divided into four different types:

  • Very low-level waste: Waste suitable for near-surface landfills, requiring lower containment and isolation.
  • Low-level waste: Waste needing robust containment for up to a few hundred years, suitable for disposal in engineered near-surface facilities.
  • Intermediate-level waste: Waste that requires a greater degree of containment and isolation than that provided by near-surface disposal.
  • High-level waste: Waste is disposed of in deep, stable geological formations, typically several hundred meters below the surface.

Despite safety concerns, high-level radioactive waste constitutes less than 0.25% of total radioactive waste reported to the IAEA.

Waste ClassDisposed (cubic meters)Stored (cubic meters)Total (cubic meters)
Very low-level waste758,802313,8821,072,684
Low-level waste1,825,558204,8582,030,416
Intermediate level waste671,097201,893872,990
High-level waste3,9605,3239,283

Stored and disposed radioactive waste reported to the IAEA under the Joint Convention on the Safety of Spent Fuel Management and on the Safety of Radioactive Waste Management. Data is from the last reporting year which varies by reporting country, 2019-2023.

The amount of waste produced by the nuclear power industry is small compared to other industrial activities.

While flammable liquids comprise 82% of the hazardous materials shipped annually in the U.S., radioactive waste accounts for only 0.01%.

Original Source: https://elements.visualcapitalist.com/visualizing-all-the-nuclear-waste-in-the-world/

Categories
Base Metals Energy Precious Metals

Silver Bullet Receives MSHA Approval

Burlington, Ontario–(Newsfile Corp. – January 23, 2024) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce as part of its ongoing transformation to a silver producing company, it has submitted and received approval for its mine training program from the Mine Safety and Health Association (“MSHA”), part of the United States Department of Labor. This MSHA approval covers the training program for both SBMI’s underground and surface operations. The approval process included three onsite inspections by MSHA and the completion by SBMI of a detailed safety operations program.

The field team in Arizona is currently attending the annual training program which will be completed this week, following which the field team intends to address any outstanding safety-related items, develop the silver higher-grade Zone1, and commence commercial operations.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195306

Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Closes Private Placement

Edmonton, Alberta–(Newsfile Corp. – January 22, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that, on January 19, 2024, it closed on a private placement (the “Offering”) by the issuance of 2,975,500 Units (as defined below) at a price of $0.05 per Unit for gross proceeds of $148,775.

Under the terms of the Offering, each Unit consisted of one common share of the Company (“Common Share”) and one half of one warrant (“Warrant”). Each whole Warrant entitles the holder to acquire one additional Common Share at an exercise price of $0.07 per Common Share and shall expire on the earlier of: (a) 30 days following written notice by the Issuer to the Subscriber that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) January 19, 2026.

The Company intends to use the proceeds from the Units for general working capital.

The Common Shares and any Common Shares issued on exercise of the Warrants are subject to restrictions on trading until May 20, 2024 in accordance with the policies of the TSX Venture Exchange.

Following closing of the Offering, the Company has 152,669,619 Common Shares issued and outstanding. The Offering is subject to Final Acceptance by the TSX Venture Exchange.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,
GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/195112

Categories
Base Metals Energy Junior Mining

Grizzly Reports the First Sample Results for the Newly Acquired Ground in the Beaverdell Area of the Greenwood, BC Precious and Battery Metals Project

Edmonton, Alberta–(Newsfile Corp. – January 17, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce the first assay results for rock and soil samples collected from the newly acquired and staked mineral claims in the Beaverdell area of the Greenwood District. These are the first results from an initial exploration program conducted in the South Beaverdell target area within the Greenwood Precious and Battery Metals Project. In addition, results will also be forthcoming from additional prospecting and sampling in the Greenwood area and from recent work conducted at the Robocop Property following up on copper-cobalt anomalous soils identified in work over the last two years.

Highlights:

  • A total of 49 rock grab samples were collected from mostly outcrop and some mineralized dump material across the South Beaverdell claims acquired in early 2023 (Figures 1 & 2).
  • Additional staking has been conducted to expand and firm up the land position in the area.
  • Rock grab samples from showings and mineralized dumps in the Gold Drop portion of the claim area returned 4 samples with >42.8 grams per tonne (g/t) silver (Ag) (1.25 ounces per ton [opt] up to 97 g/t (2.83 opt) Ag.
  • The high Ag values are often accompanied by high lead and zinc in the 0.1 – 2% range. The high values are associated with gossanous sulphide material in quartz veins and breccia in a shear zone in granodiorite in contact with a diorite or felsic porphyry dike (Figures 3 & 4).
  • A few 2023 samples from the Gold Drop claim returned weakly anomalous gold values. A single sample from a road cut to the south yielded 0.624 g/t (0.018 opt) Au (Figures 1 and 2). Historical exploration has yielded a number of high silver and gold values from selective grab samples and some chip samples from the Gold Drop underground workings including up to 51.4 g/t (1.5 opt) Au and 377.1 g/t (11.0 opt) Ag (Minfile 082ESW041).
  • A total of 329 soil samples were collected during 2023 at and surrounding the Gold Drop showing. A number of soil samples returned anomalous Ag, Au and Zn results (Figures 1, 2 and 5). A total of 25 samples yielded from 20 up to 348 parts per billion (ppb) Au with three samples yielding >200 ppb Au (Figure 5).

Brian Testo, President and CEO of Grizzly Discoveries, stated We are excited with the new results to date from the new Beaverdell mineral claims and we are planning follow-up exploration including extensive soil and rock sampling programs along with ground geophysical surveys. Much of the newly acquired ground has seen little exploration and evaluation since the 1980’s. We also are looking forward to pursuing a number of high grade gold – silver – copper showings and historical mines with drilling in 2024 along with additional exploration for significant battery metal prospects in our current 165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!

Figure 1: Initial 2023 Ag results rock & soil sampling – South Beaverdell Area, Greenwood Project.



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_002full.jpg

Figure 2: Historical – 2023 Ag results rock & soil sampling – South Beaverdell Area, Greenwood Project.



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_003full.jpg

Figure 3. Sulphide (galena & sphalerite) mineralization from vein outcrop Gold Drop Claim.



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_figure3.jpg.png

Figure 4. Main adit with quartz vein and sulphides at the Gold Drop Claim.



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_006full.jpg

Figure 5: Historical – 2023 Au results rock & soil sampling – South Beaverdell Area, Greenwood Project



To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/194608_1f86b249443909c9_007full.jpg

Summary of 2023 Exploration at Greenwood:

An extensive rock and soil sampling program along with new geological mapping during 2023 has been completed in preparation for drilling at a number of locations in the Greenwood Area. Additional results should be forthcoming over the next month and will be presented in additional news releases.

Quality Assurance and Control

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

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

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194608

Categories
Base Metals Energy Junior Mining

Granite Creek Copper Receives Final Metallurgical Results Demonstrating 88% Oxide Copper Recovery

VANCOUVER, BC / ACCESSWIRE / January 17, 2024 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce significantly increased recovery of copper from oxide material at its Carmacks Copper-Gold-Silver project (“Carmacks Project” or the “Project“) was achieved through metallurgical studies conducted by Kemetco Research Inc. from (“Kemetco“).

The Company’s 2023 Preliminary Economic Assessment (“2023 PEA”) for the Project identified the opportunity to significantly increase net present value (“NPV”) by improving oxide recovery. Metallurgical testing completed on the project in support of the 2023 PEA showed that while a copper recovery of over 93% could be achieved via a well-established froth flotation technique for sulphide ore, only 39.8% copper recovery from oxide ore was achieved using the same process (see Table 1 for summary of flotation results). The current test results show a total recovery of 88% for oxide material is possible, an increase of 48% over the PEA base case (Tables 1 and 2). These results will have a significant impact on the economics for the project as the PEA identified an additional $180 M of NPV5% value by increasing life of mine average recovery for copper from 64% to 77%. With sulfide recoveries of 93.7% identified in the PEA and combined oxide recoveries (initial flotation + leaching and precipitate) of 88% the potential recoveries for copper are well above the 77% target level highlighted in the 2023 PEA.

The current mine plan as outlined in the 2023 PEA contemplates processing material with a high oxide content of up to 80% oxide ore in the first five years of the mine life. During this time over 8.4 million tonnes of oxide material would be processed versus 2.88 million tonnes of sulphide material. An increase in recovery of oxide material for the first five years of mine life, as demonstrated in these test results, would have a potentially very significant impact on project economics.

Kemetco Research Inc. was retained to complete testing on tailings produced in previous metallurgical work to develop a process for treating material that will have passed through the mill and still have significant oxide copper minerals present (See Figure 1 for simplified flow sheet). This laboratory test program showcased the efficacy of copper recovery from Carmacks copper oxide flotation tailings through a low-concentration acid leach at ambient temperature and pressure followed by chemical precipitation of copper minerals. The precipitation of copper sulphide (“CuS”) from the resulting leachate was shown to be an effective method of fully recovering the leached copper from solution, yielding a very high-grade CuS precipitate that would be added to the copper concentrate further increasing the copper grade of the high-quality concentrates from the project. For reference the PEA estimated an average concentrate grade of 40% copper with significant gold and silver credits.

Figure 1: Simplified Flow Sheet

Results of this testing are outlined below:

  • Acid leaching was able to extract as much as 80% of the remnant copper present in a composite prepared from Carmacks copper oxide flotation tailings.
  • Copper in precipitates varied, but in most tests approached the theoretical grade of pure CuS which grades 66.5% Cu. High grades were obtained without pH adjustment.
  • This testing shows a total copper recovery from oxide material of 88% with Initial Flotation recovery of 39.8% + Leach and Precipitate recovery of 48% (80% of the remnant copper).
  • Adding Sodium hydrosulphide (“NaHS”) solution resulted in up to 100% precipitation of copper from leach solutions, offering a promising avenue for further refinement. Hydrogen sulphide gas was equally effective as a sulphide source for copper precipitation.
  • In all tests, the precipitation of CuS resulted in a drop in pH as free acid was regenerated as a by-product of the precipitation reaction, creating the potential to reuse/recycle the regenerated acid.

Table 1 Summary of flotation testing results and average values used in PEA.

Recovery %
SampleCuAuAg
Sulphide Sample Flotation193.769.078.4
Oxide Sample Flotation239.857.537.4
Total Oxide Recovery (Initial Flotation + Leach and Precipitate)88.0N/AN/A
PEA LOM Base Case364.05860
PEA Target Case4> 775860
  1. Sulphide flotation testing completed by SGS prior to PEA study see news release dated January 10, 2023.
  2. Oxide flotation testing completed by SGS prior to PEA study see news release dated January 10, 2023.
  3. Calculated LOM average recovery based on a regression curve dependant on oxide content.
  4. Projected PEA target based on achieving a 20% increase in oxide recovery LOM.

Table 2 2023 – PEA Copper Recovery Sensitivity Table

Copper Recovery SensitivityPEA BASETarget1
Pre-Tax NPV (5-10% Discount)Overall recovery51%58%64%70%77%
Sensitivity Range80%90%100%110%120%
5%$136.6M$231.3M$324.1M$416.6M$509.6M
6%$122.2M$209.4M$269.6M$383.8M$471.0M
7%$107.3M$189.4M$271.5M$353.6M$453.6M
8%$93.8M$171.1M$248.4M$325.8M$403.1M
9%$81.4M$154.3M$227.3M$300.2M$373.2M
10%$70.1M$139.0M$207.8M$276.7M$345.6M
  1. Based on a recovery of 93.7% for sulphide and 88% for oxide this would exceed the PEA LOM 77% target

About the Carmacks Deposit:

The road accessible Carmacks deposits hosts a NI 43-101 resource consisting of 36.2 Mt M&I, grading 1.07% CuEq 0.81% Cu, 0.31 g/t Au, 3.41 g/t Ag (see news release January 19, 2023). The deposit was the subject of a positive PEA released in January 2023 that envision a 9-year mine life based on a mill capable of processing 7,000 t/d of combined oxide and sulfide ore. The resources are contained within three conceptual open pits and are open for expansion.

Contained Copper in Measured and Indicated Resources

147 Pit 280 Mlbs copper in oxide
126 Mlbs copper in sulfide

2000 Pit 10.5 Mlbs copper in oxide
51.3 Mlbs copper in sulfide

1213 Pit 35.4 Mlbs copper in oxide
122.3 Mlbs copper in sulfide

Tim Johnson, President & CEO stated, “The 2023 PEA, a major milestone for the Company, identified several opportunities for the Project including increased recovery, resource expansion and additional mine and process optimisation. The unlocking of additional value through the improved oxide recovery that this testing represents, especially in the early years of mine life, has the potential to add significantly to the NPV of the project. These results could allow for re-evaluation of resources that didn’t make it into the mine plan due to lower grades or assumed recoveries. The process being developed by the company also has the possibility of being used in other parts of the Minto Copper belt where oxidized or partially oxidized (POX) copper ores have not been processed by other operators.”

Corporate Update

Granite Creek announces the appointment of Susan Henderson as Corporate Secretary. In this role, Ms. Henderson will play a crucial role in overseeing and managing corporate governance matters, ensuring compliance with regulatory requirements, and serving as a key liaison between the company and its stakeholders. She brings her extensive experience in the mining industry, making her well-suited to contribute to Granite Creek’s continued success. The board and executive team are confident in her ability to navigate the complex landscape of corporate governance and provide valuable insights.

Qualified Persons

Mr. Douglas Warkentin, P.Eng., a Qualified Person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure related to metallurgical testing contained in this news release. Mr. Warkentin is a Senior Metallurgist with Kemetco Research and an advisor to the Company.

The NI 43-101 technical report entitled CARMACKS PROJECT PRELIMINARY ECONOMIC ASSESMENT (PEA) YUKON, CANADA, referenced in this news release is available on the company’s website as well as on SEDAR under the company’s profile.

2023 PEA: The Company cautions that the results of the PEA are preliminary in nature and do not include the calculation of mineral reserves as defined by NI 43-101. There is no certainty that the results of the PEA will be realized.

About Granite Creek Copper

Granite Creek Copper, a member of the Metallic Group of Companies, is a focused on the exploration and development of critical minerals projects in North America. The Company’s projects consist of its flagship 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the high-grade Minto copper-gold mine and the advanced stage LS molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

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

Forward-Looking Statements

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

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

SOURCE: Granite Creek Copper Ltd.



View the original press release on accesswire.com

Categories
Base Metals Energy Junior Mining Precious Metals

Terra Balcanica Drills 499 g/T AgGEq Over 3.8 m at Cumavici Ridge in Bosnia and Herzegovina and Closes Private Placement Financing

Terra Balcanica Resources Corp.
Terra Balcanica Resources Corp.

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, Jan. 17, 2024 (GLOBE NEWSWIRE) —  Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce additional assay results from the 2023 Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge polymetallic mineralization within its flagship Viogor-Zanik project in Bosnia and Herzegovina. The Company further announces closing of the final tranche of its non-brokered private placement financing (the “Offering”) of shares (the ”Shares”) for total gross proceeds of $212,200.

Highlights

  • Drillhole CMV23002b intersected 499 g/t AgEq over 3.8 m from 22 m downhole with a further mineralized interval of 227 g/t AgEq over 2.0 m from 31 m (Table 1);
  • Drillhole collar for CMV23002b is located 39 m northeast of previously reported CMV23003 and 004 and 38 m SE of 2022 drillhole CMVDD001 which returned:
    • CMVDD001 – 824 g/t AgEq over 4 m (see company news release dated 8th September, 2022);
    • CMV23003 – 457 g/t AgEq over 4.15 m;
    • CMV23004 – 1168 g/t AgEq over 1.35 m;
  • The mineralization remains open immediately northwest and down-dip to the southwest;

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments: “We are delighted to continue reporting impressive silver grades from the central Cumavici Ridge system. This polymetallic, near-surface target keeps on delivering and is open along strike and down-dip. Cumavici Ridge is only one of five target zones along the 7.2 km NW-SE trending fault-hosted system that remains to be drilled, thus offering upside to advance a deposit immediately adjacent to the existing Sase Pb-Zn-Ag mine with infrastructure including mining and processing facilities. We are excited to continue advancing Viogor-Zanik’s full potential as a unique critical raw minerals land package right at Europe’s doorsteps. Additional assay results will continue to be released very shortly.”

Hole IDFrom (m)To (m)Length (m)Ag (g/t)Au
(g/t)
Pb
(%)
Sb
(%)
Zn
(%)
AgEq (g/t)
CMV23002b22.0025.803.801250.702.720.485.53499
CMV23002b31.0033.002.001660.570.110.120.21227

Table 1. Assay results from drillhole CMV23002b of the Phase II drilling campaign. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.

Figure 1. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023). Current drilling efforts confirm mineralization over 82 m NW/SE strike length. (WGS84/UTM Zone 34N (click here to view image).

Hole IDEastingNorthingElevation (m)DipAzimuthDepth (m)Recovery (%)
CMV23002b360224.64888498.1594.58-5005056.299

Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Future Exploration Program
Further drilling efforts at Cumavici Ridge will aim to connect the shallow high-grade interval reported in this release to the 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m reported over 600 m to the northwest (see Company news release dated 5th November 2023). The system remains untested and open to the southwest down-dip which will also be targeted in 2024 drilling.

Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay interval reported for CMV23002b (click here to view image).

QAQC
Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 9% and investigated as part of the company’s quality assurance and quality control program.

Final Tranche of Private Placement Financing Closed
The Company issued an additional aggregate of 1,200,000 Shares at a price of $0.04 per Share for gross proceeds of $48,000 pursuant to the Offering announced on December 1st, 2023.

In total, the Company has issued 5,305,000 Shares at a price of $0.04 for gross proceeds of $212,200. Terra will use the net proceeds of the Offering for working capital and to finance the acquisition of a strategic mineral exploration licence in Bosnia and Herzegovina. Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the final tranche of the Private Placement will be subject to a four (4) month hold period ending May 17th, 2024. There were no finders’ fees paid in any of the tranches of the Offering.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Qualified Person
Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Alex Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.