Category: Energy

Collective Mining Step-Out Drilling Confirms a Significant Southern Zone of Near Surface High-Grade Mineralization Including 32 Metres at 10.48 g/t Gold Equivalent

Post author By admin
Post date January 31, 2023

Drill hole APC-29 intercepted the highest grade near-surface copper-silver-gold mineralization encountered to date at the Main Breccia system at the Apollo target (“Apollo”) yielding 32 metres @ 10.48 g/t gold equivalent from 80 metres vertical. This hole was designed to test directly below where the Main Breccia system daylights at surface in the southern part of the system and to follow up on recently announced results for hole APC-22, which intersected 47.25 metres @ 5.45 g/t gold equivalent (see press release dated January 11, 2023). Further down-hole in APC-29, a broad zone of mineralization was encountered averaging 214.4 metres @ 1.04 g/t gold equivalent. APC-29 had to be abandoned short of target depth due to a fault while still in mineralization with the final 0.5 metre sample assaying 1.72 g/t gold, 39 g/t silver and 0.1% copper.

Drill hole APC-25 was designed as a step out hole along strike of the near surface high-grade zone of mineralization and intersected 106.85 metres @ 2.31 g/t gold equivalent starting at 65 metres vertical below surface. As a result, APC-25 has confirmed a shallow, westward expansion to the Main Breccia system and an apparent thickening to the high-grade near surface mineralized zone as the system is traced to the west.

Hole APC-26 was drilled to the northeast from Pad 4 and confirmed continuity of mineralization in that direction returning 136.9 metres @ 1.51 g/t gold equivalent contained within 311.2 metres at 1.04 g/t gold.

The phase II drilling program is underway with three rigs currently operating focused on testing near surface mineralization and expanding the dimensions of the Main Breccia system. Assay results are expected in the near term for the final three holes of the 2022 program, including westwards step-out hole APC-28, which cut more than 600 metres of continuous mineralization. Additionally, the first hole of the Phase II program is now complete, and core has been dispatched to the lab for assaying.

Ari Sussman, Executive Chairman commented: “Not only is the Main Breccia system at Apollo a large, bulk tonnage deposit but it now appears to host an outcropping and shallow zone of high-grade mineralization, which clearly enhances the value of this exciting discovery. Based on surface sampling, the system appears to daylight over an area measuring approximately 150 metres in diameter and remains open for expansion. The Main Breccia system is truly evolving into a brand-new world-class discovery right in the heart of a prolific mining camp with continuous precious metal production dating back more than 500 years.”

TORONTO, Jan. 31, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from a further three holes drilled into the Main Breccia discovery at the Apollo target (“Apollo”), which is part of the Guayabales project located in Caldas, Colombia. The Main Breccia discovery is a high-grade, bulk tonnage copper-silver-gold porphyry-related system, which owes its excellent metal endowment to multiple phases of mineralization which includes older copper-silver-gold porphyry mineralization and younger, overprinting, precious metal rich sheeted carbonate base metal vein systems.

Details (See Table 1 and Figures 1–6)

Assay results for twenty-eight diamond drill holes have now been announced at Apollo with results for additional holes expected in the near term. This press release announces results of three diamond drill holes with results summarized below.

APC-25 was drilled to the northwest from Pad 3 to a maximum depth of 215.80 metres and intersected a shallow, western extension to the Main Breccia discovery averaging:

106.85 metres @ 2.31 g/t gold equivalent consisting of 0.81 g/t Au, 30 g/t Ag, 0.62% Cu and 30 ppm Mo beginning at 73 metres downhole (65 metres vertical).

The mineralized angular breccia of this intercept contains a sulphide matrix which includes 1.5% to 2.5% chalcopyrite and between 1% and 3% pyrite plus pyrrhotite. The breccia has been overprinted by a zone of carbonate and base metal (sphalerite and galena) veins, which host higher gold grades and returned an interval of 14 metres grading 3.65 g/t gold equivalent. APC-25 is the westernmost hole drilled into the Main Breccia discovery and demonstrates that the mineralization is open and is thickening in this direction. Drill holes have been designed to continue to step-out to the west to expand upon this high grade and near surface mineralization.

APC-26 was drilled northeast from pad 4 and confirms continuity within the Northern Extension Zone of the Main Breccia system, as previously defined in holes APC-17 and APC-22. The hole was drilled to a maximum downhole length of 813.7 metres and intercepted:

311.2 metres @ 1.04 g/t gold equivalent consisting of 0.74 g/t Au, 16 g/t Ag, 0.05% Cu and 10 ppm Mo from 415 metres down hole.

Gold and silver mineralization relates to sulphides hosted within the angular breccia matrix including pyrite (1%-3%), pyrrhotite (1%-2%) and chalcopyrite (0.5%-1%). A higher-grade sub-zone was encountered within the mineralized intercept averaging 136.9 metres at 1.51 g/t gold equivalent and is characterized by an increase in overprinting low and intermediate sulphidation, carbonate base metal (“CBM”) vein material including visible sphalerite and galena.

APC-29 was drilled to the north-northeast from Pad 3 to a maximum depth of 644.8 metres and intercepted three mineralized zones before the hole was abandoned short of target depth due to a complicated fault structure. The two shallow zones within this hole are located directly beneath mineralized surface outcrops with the initial 32.0 metre intercept of mineralization beginning at 111.3 metres downhole (80 metres vertical), and the second 8.65 metre mineralized zone starting at 194.8 metres downhole (143 metres vertical). These high-grade gold, silver, and copper shallow zones of mineralization are hosted within a matrix of angular quartz diorite breccia with the sulphide component consisting of chalcopyrite (0.5%-2%), pyrite (0.5%-2%) and pyrrhotite (0.5-1%). Finally, the third zone, which starts at 343.8 metres downhole (318 metres vertical) intersected more 301 metres of continuous mineralization including a higher-grade subzone over 214.4 metres. The sulphide mineralization within the breccia matrix of this intercept contained pyrrhotite (0.5%-2.5%), pyrite (1%-3%) and multiple zones of sheeted CBM vein material, which are predominantly sphalerite rich with minor galena. The following intercepts are summarized from APC-29:

32.00 metres @ 10.48 g/t gold equivalent consisting of 9.23 g/t Au, 60 g/t Ag, 0.44% Cu and 30 ppm Mo from 89.25 metres downhole (80 metres vertical depth).
8.65 metres @ 2.26 g/t gold equivalent consisting of 0.57 g/t Au, 82 g/t Ag, 0.27% Cu and 10 ppm Mo from 194.80 metres downhole (143 metres vertical depth).
214.40 metres @ 1.04 gold equivalent consisting of 0.77 g/t Au, 14 g/t Ag, 0.05% Cu and 10 ppm Mo from 343.80 metres downhole (318 metres vertical depth), which includes 98.20 metres @ 1.26 g/t gold equivalent.

The Company’s Phase II, 2023 program is well underway with two rigs focused on drilling near surface, high grade mineralization below mineralized outcrops in the southern and central areas of the Main Breccia system while simultaneously targeting expansion to the overall dimensions of the system to the west, northwest, north and northeast. Furthermore, a new drill pad (pad 8) has been constructed 150 south of the southernmost modelled boundary of the Main Breccia system at Apollo and reconnaissance drilling is underway to test a recently discovered porphyry target.

The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers a 1,000 metres X 1,200 metres area. The Apollo target area hosts the Company’s Main Breccia discovery and multiple additional untested breccia, porphyry and vein targets. The overall Apollo target area also remains open for further expansion.

Table 1: Apollo Target Assays Results for Holes APC-25, APC-26 and APC-29

HoleID	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Cu %	Mo %	AuEq(g/t) *	CuEq(%) *
APC-25	73.00	179.85	106.85	0.81	30	0.62	0.003	2.31	1.26
Incl.	111.00	125.00	14.00	2.00	35	0.75	0.005	3.65	2.00
APC-26	415.00	726.20	311.20	0.74	16	0.05	0.001	1.04
incl.	415.00	551.90	136.90	1.14	20	0.06	0.001	1.51
APC-29	111.30	143.30	32.00	9.23	60	0.44	0.003	10.48
and	194.80	203.45	8.65	0.57	82	0.27	0.001	2.26
and	343.80	644.80	301.00	0.63	14	0.05	0.001	0.90
Incl.	343.80	558.20	214.40	0.77	14	0.05	0.001	1.04
Incl.	460.00	558.20	98.20	1.26	15	0.04	0.001	1.51

* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) is calculated as follows: (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.

** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.

Figure 1: Plan View of the Main Breccia System at Apollo Highlighting Drill Holes APC-25, APC-26 and APC-29 (CNW Group/Collective Mining Ltd.)

Figure 2: Up Close View of Drill Holes Intersecting the Shallow, High-Grade Southern Zone Within the Main Breccia System at Apollo (CNW Group/Collective Mining Ltd.)

Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)

Figure 4: Core Photo Highlights from Drill Hole APC-25 (CNW Group/Collective Mining Ltd.)

Figure 5: Core Photo Highlights from Drill Hole APC-26 (CNW Group/Collective Mining Ltd.)

Figure 6: Core Photo Highlights from Drill Hole APC-29 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

SOURCE Collective Mining Ltd.

Tags #AriSussman, #Guayabales, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, canadian gold stocks list, CNL, Collective Mining, InvestingInColombia

Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Seeks to Extend Warrants

Post author By admin
Post date January 30, 2023

Burlington, Ontario–(Newsfile Corp. – January 30, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces it is applying to the TSX Venture Exchange to extend all warrants related to the Company’s $0.30 round of financing (the “Warrants”). The Warrants have a two-year term, are exercisable at $0.50 (fifty cents) and were issued in various tranches from February 6, 2021 to July 8, 2021.

The Company is seeking regulatory approval to extend all Warrants for one additional year from their original expiry dates.

With respect to the Arizona mining and milling operations, SBMI expects to be able to make further disclosure within two weeks.

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 pathogen; 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 mineralized material; 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.

The Issuer has not based its production decision on current resources or the results of a pre-feasibility study of mineral resources to establish mineral reserves demonstrating technical and economic viability. Significant uncertainty exists on the presence of any economic mineable material.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152930

Tags #BuckeyeMine, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #SBMI, #WashingtonMine, John Carter

Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Drills 1,540 g/t Ag Eq over 1.63 meters within 20.9 meters of 230 g/t Ag Eq at Keno Silver Project in Yukon, Canada

Post author By admin
Post date January 30, 2023

VANCOUVER, BC / ACCESSWIRE / January 30, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce additional results from the 2022 field program at the Keno Silver project in the historic Keno Hill silver district of the Yukon: Canada’s most important silver mining district. These results cover the West Keno area and represent the second in a series of results to be released from the Company’s 2022 exploration program, which included 3,265 meters (“m”) of diamond core drilling in 23 drill holes focused on expansion of advanced stage, “resource-ready” targets in anticipation of an inaugural NI 43-101 mineral resource estimate in 2023.

Exploration in 2022 at West Keno focused on drilling at the advanced-stage Formo target, which produced silver at various times since the 1930s from high-grade vein structures that graded over 1,000 g/t silver¹. Formo is a significant inholding within the neighbouring Hecla Mining property and is on trend with the historic Hector-Calumet Mine, which produced nearly 100 million ounces of silver making it the largest individual mine in the district¹.

2022 West Keno Exploration highlights

High-grade silver (“Ag”), lead (“Pb”) and zinc (“Zn”) mineralization was encountered in five of seven holes (See Table 1). Both high-grade Ag-Pb-Zn vein-style mineralization and broader zones of moderate grade Ag-Pb-Zn mineralization were encountered.
A total of 40 high-grade samples of over 100 g/t silver equivalent (“Ag Eq”) were intercepted in the 2022 West Keno drilling, including:
- FOR22-01, 0.54 m @ 2,291 g/t Ag Eq (1,139 g/t Ag, 18.32% Pb, 14.79% Zn)
- FOR22-02, 0.5 m @ 1,025.1 g/t Ag Eq (14 g/t Ag, 0.07% Pb, 23.36% Zn)
- FOR22-04, 1.63 m @ 1,536.2 g/t Ag Eq (1,049.5 g/t Ag, 4.21% Pb, 9.45% Zn)
- FOR22-04, 0.64 m @ 2,127.9 g/t Ag Eq (1,358 g/t Ag, 4.16% Pb, 16.42% Zn)
- FOR22-05, 0.5 m @ 1,215.3 g/t Ag Eq (850 g/t Ag, 7.65% Pb, 3.97% Zn)
All five holes encountering significant silver mineralization in 2022 also intercepted broad bulk-tonnage zones averaging 26.2 m @ 85.6 g/t Ag Eq comprised of multiple high-grade vein intervals with associated stringers and stockwork veining.

Metallic Minerals President, Scott Petsel, stated, “Impressive drill results, year over year, have consistently demonstrated that Formo is one of Metallics’ highest-grade targets and have cemented it as a priority for a planned, near-term NI 43-101 resource estimate. The strategic location of the Formo deposit along the Silver Trail Highway provides easy access and adjacent electrical power and it is only two kilometers from the largest individual silver deposit in the district and less than five kilometers from both Hecla’s active mine development operations at Bermingham and the Keno operations mill at Keno City. This new step-out drilling continues to show that the deposit remains open to further testing along trend and down dip with room for significant expansion of the mineralized footprint and additional new discoveries. With these results complete we have initiated resource modelling work with SGS Geological Services on the Formo deposit.

“The Company expects to announce additional drill results from both the Keno Silver Project (primarily at the advanced-stage Caribou target), and from follow up expansion drilling at the La Plata Project over the coming weeks.”

Upcoming Events

Vancouver Resource Investment Conference – Metallic Minerals will be participating in the Vancouver Resource Investment Conference at the Yukon Pavilion on Monday January 30^th. For more information, visit here.

GCFF Virtual Conference – Scott Petsel will be presenting during the GCFF Metals Investing Virtual Conference on February 23^rd at 10am PT | 1pm ET. To register, click here.

OTC Markets Battery & Precious Metals Virtual Investor Conference – Metallic will be participating in the upcoming OTC Markets Battery & Precious Metals Investor Conference on Wednesday, February 15 at 10am PT | 1pm ET. To register, click here.

2023 Prospectors and Developers Convention (PDAC) – Booth, Presentation & YMA Core Shack

Metallic Minerals will be attending PDAC 2023 in Booth IE3024. Additionally, President Scott Petsel will be providing a corporate presentation at a Forum for Investors during the 2023 Prospectors and Developers convention in Toronto Monday March 6^th in the silver-focused session, Room 803, between 10:00 am and 12:00 pm at the Metro Toronto Convention Center. For more information, visit here.

Figure 1. Keno Silver District Geology and Deposits

Metallic Minerals Corp., Monday, January 30, 2023, Press release picture

West Keno 2022 Drilling Program

Drilling at West Keno focused on the advanced-stage “resource-ready” Formo target area. A total of seven holes were completed over 1,145.6 meters on known projections of mineralization with the goal of expanding the potential resource footprint of the deposit in anticipation of an inaugural 43-101 mineral resource estimate in 2023. Previous drilling has recognized at least three separate parallel high-grade Ag-Pb-Zn vein structures and results of the 2022 drilling continue to demonstrate multiple vein zones in each hole with individual grades commonly more than 1,000 g/t Ag Eq (See Table 1). The Formo target represents one of the highest-grade areas drilled to date on Metallic’s Keno Silver Property with 4.1 m of 2,536 g/t Ag Eq (FOR20-03) and 1 m of 2,961.6 g/t Ag Eq (FOR21-06) as examples of drill results from previous years efforts.

Table 1 – Highlights of 2022 Drill Results from the West Keno – Formo Target Area

DDH Hole ID	From (m)	To (m)	Length (m)	Ag Eq (g/t)	Ag (g/t)	Au (g/t)	Pb (%)	Zn (%)
FOR22-01	72.3	103.95	31.65	86.5	41.1	0.01	0.54	0.70
incl	72.3	72.8	0.5	496.4	349	0.00	3.70	1.17
And incl	97.3	103.95	6.65	324.6	148.4	0.02	2.07	2.73
And incl	98.8	99.34	0.54	2291	1139	0.06	18.32	14.79
FOR22-02	91	119.2	28.2	69.8	11.6	0.02	0.11	1.25
incl	91	105.5	14.5	123	17.1	0.01	0.16	2.34
And incl	91	92	1	744.4	74	0.02	0.31	15.35
And incl	95.3	95.8	0.5	1,025.1	14	0.01	0.07	23.36
FOR22-03	77	81	4	154.2	93.6	0.01	0.83	0.90
incl	77	77.81	0.81	489.6	386	0.00	3.54	0.31
and	125	141.6	16.6	66.4	36	0.01	0.37	0.45
incl	126.8	134	7.2	107.8	58.4	0.00	0.65	0.74
FOR22-04	125.13	146	20.87	228.8	144.6	0.01	0.70	1.59
incl	126.75	127.5	0.7	1,168.5	345	0.07	3.52	16.81
And incl	137.6	144	6.4	557.7	395.9	0.02	1.65	2.99
And incl	141.81	143.44	1.63	1,536.2	1,049.5	0.11	4.21	9.45
And incl	142.8	143.44	0.64	2,127.9	1,358	0.00	4.16	16.42
FOR22-05	60.9	61.62	0.72	293.5	3.5	3.34	0.01	0.10
and	131.5	164.95	33.45	67.9	42.1	0.05	0.37	0.28
incl	147	151	4	283	195.3	0.00	1.81	0.96
And incl	148.8	149.3	0.5	1,215.3	850	0.00	7.65	3.97
And incl	164.45	164.95	0.5	280	1.9	3.25	0.00	0.00
FOR22-06	75.7	77.15	1.45	41.8	21.3	0.01	0.44	0.17
and	131.52	132.07	0.55	42.8	15.3	0.02	0.12	0.53
FOR22-07	93.4	93.9	0.5	44.9	22.3	0.01	0.20	0.39
and	123.45	124.04	0.59	43.8	31.1	0.00	0.21	0.18

Notes to reported values:

Ag equivalent is presented for comparative purposes using conservative long-term metal prices (all USD): $20.0/oz silver (Ag), $1.00/lb lead (Pb), $1.40/lb zinc (Zn).
Rcovered Silver Equivalent in Table 1 is determined as follows: Ag Eq g/t = [Ag g/t x recovery] + [Au g/t x recovery x Au price/ Ag price] + [Pb % x 10,000 x recovery x Pb price / Ag price] + [Zn% x 10,000 x recovery x Zn price / Ag price].
In the above calculations: 1% = 10,000 ppm = 10,000 g/t.
The following recoveries have been assumed for purposes of the above equivalent calculations: 95% for precious metals (Ag/Au) and 90% for all other listed metals, based on recoveries at similar nearby operations.
Intervals are reported as measured drill intersect lengths and may not represent true width.

West Keno and the Formo Area Target

The Western Keno Hill district is host to the largest historic production and current resources in the prolific Keno Hill silver district. The Formo target is located at the intersection of a north-easterly structural zone extending from the Hector-Calumet mine, which was the largest producer in the district producing nearly 100 million ounces of silver and the Elsa structural trend, which was the second largest silver producer in the district (see Figure 2).

The Formo property, which include the Formo Mine, also known as the Yukeno Mine, was acquired by Metallic Minerals in 2017. The historic Formo mine produced high-grade silver at various times since the 1930s from high-grade vein structures that graded over 1,000 g/t silver¹. Significant underground exploration drifts were developed in the 1950s with most of the historic production from an open pit located alongside of the Silver Trail highway between the Elsa townsite and Keno City and last mined in the 1980s.

Figure 2 – West Keno Plan Map

Figure 3 – Formo Vein Long Section (looking NW)

The primary Formo vein structure is exposed at surface in an open cut. Multiple veins have been encountered in the target area that demonstrate an association with Triassic greenstones in the Earn group schist, similar to the Sadie Ladue deposit which produced 12.7 Moz silver at a grade of 1,620 g/t Ag¹. In addition to the mineralization at the known Formo deposit, two new surface targets have been identified through soil and rock sampling along the same structural corridors that show potential to host high-grade and bulk tonnage Keno-style Ag-Pb-Zn veins on the Formo property.

Since 2020 Metallic Minerals has drilled 22 holes (3,306.9 m) at the Formo Target to compliment the six core holes and 54 percussion holes drilled by previous owners between 1980 and 1981. The Formo Target is open to significant expansion opportunities and is poised to lead the Company’s efforts to establish resources on the Keno Silver Project.

Grant of Long-Term Performance Incentives

Metallic Minerals further announces that, subject to the approval of the TSX Venture Exchange, it has granted 1,490,000 stock options (each, an “Option”) to certain directors, officers and employees of the Company in accordance with the Company’s Long-Term Performance Incentive Plan. Each Option is exercisable into one common share in the capital of the Company (“Share”) at a price of $0.23 per share, being the closing price of the Shares on the TSX Venture Exchange on January 27, 2023, for a period of five years from the date of grant. The Options are subject to certain vesting requirements in accordance with the shareholder approved plan.

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company, focused on silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon, and copper, silver and critical minerals in the La Plata mining district in Colorado. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Hecla Mining’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco Resources and their Keno Hill operations in September 2022. Metallic Minerals is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators. At the Company’s La Plata project in southwestern Colorado an inaugural NI 43-101 mineral resource estimate in April 2022 returned a significant porphyry copper-silver resource with results from the 2022 expansion drill program pending. All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

Footnotes:

Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com Phone: 604-629-7800

Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

Qualified Person

The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals’ mineral properties has been reviewed and approved by Debbie James, Senior Geologist for TruePoint Exploration, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Assurance / Quality Control

All samples were assayed by 36 Element Aqua Regia Digestion ICP-MS methods at Bureau Veritas labs in Vancouver with sample preparation in Whitehorse, Yukon and geochemical analysis in Vancouver, British Columbia. Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish. Over-limit lead and zinc samples were analyzed by multi-acid digestion and atomic absorption spectrometry. All results have passed the QAQC screening by the lab and the company utilized a quality control and quality assurance protocol for the project, including blank, duplicate, and standard reference samples.

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, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals 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, unsuccessrul operations, 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 Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals 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: Metallic Minerals Corp.

Tags #JuniorMining, #MauriceJackson, #MMG, #ProvenAndProbable, Metallic Group of Companies, Metallic Minerals

Energy Precious Metals

Do Silver Deficits Matter?

Post author By admin
Post date January 29, 2023

Do Silver Deficits Matter? | https://www.themorganreport.com

Silver is a precious metal that has been used for thousands of years in various forms of currency, jewelry, and industrial applications. However, the demand for silver has increased in recent years due to its use in new technologies such as Electric cars, solar panels and electronic devices. As a result, this raises concerns about the possibility of a silver deficit, where demand for the metal exceeds supply. This raises the question of whether or not a silver deficit would have any significant impact on the global economy and the price of silver.

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Tags #MauriceJackson, #MilesFranklin, #PreciousMetals, andy schectman

Base Metals Breaking Energy Junior Mining Metallic Minerals Precious Metals Stillwater Critical Minerals Uncategorized

Stillwater Critical Minerals Expands Resource 62% to 1.6 Blbs Battery Metals and 3.8 Moz PGE+Gold at Stillwater West Project in Montana, USA

Post author By admin
Post date January 25, 2023

VANCOUVER, BC / ACCESSWIRE / January 25, 2023 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to report a 62% increase in the updated independent National Instrument 43-101 (“NI 43-101”) mineral resource estimate (the “2023 Resource”) for its 100%-owned Stillwater West platinum group element, nickel, copper, cobalt, and gold (“PGE-Ni-Cu-Co + Au”) project in Montana, USA. The study, which was completed by SGS Geological Services (“SGS”), showed significant increases in tonnage and contained metal at both a bulk tonnage 0.20% nickel equivalent (“NiEq”) cut-off (“Base Case”) and a 0.35% NiEq higher grade bulk tonnage cut-off. A high-grade, selective mining component at a 0.70% NiEq cut-off is presented for the first time.

The Company will host a live webcast on January 31, 2023, at 10am PT | 1pm ET to discuss the Stillwater West project and the 2023 Resource. To register, click here.

2023 Resource Highlights

Base Case Inferred mineral resources of 1.6 billion pounds (“Blbs”) of nickel, copper and cobalt and 3.8 million ounces (“Moz”) palladium, platinum, rhodium, and gold (“4E”) in a constrained model totaling 255 million tonnes (“Mt”) at an average grade of 0.39% total estimated recovered NiEq (or 1.19 g/t Palladium Equivalent “PdEq”). See detailed breakdown in Tables 1 and 2, below.
Significant increases in contained metals over the 2021 study at the Base Case 0.20% NiEq cut-off:

Tonnage: 255Mt (62% increase)	Palladium: 2.05Moz (56% increase)
Nickel: 1.05Blbs (52% increase)	Platinum: 1.26Moz (66% increase)
Copper: 499Mlbs (44% increase)	Gold: 395Koz (30% increase)
Cobalt: 91Mlbs (31% increase)	Rhodium: 115Koz (76% increase)

The selective mining high-grade component yielded 11.6Mt at 1.05% Total NiEq (or 3.24 g/t Total PdEq) as 0.56% Ni, 0.33% Cu, 0.03% Co with 0.54 g/t Pd, 0.27 g/t Pt, 0.15 g/t Au and 0.019 g/t Rh. Expansion of this high-grade component results from the addition of high-grade mineralization encountered in the 2021 drill campaign.
Sulphur grades of 1.13% to 6.16% indicate desirable high nickel tenor in sulphide, supporting effective recovery via conventional flotation techniques.
2.27Blbs of chromium has been inventoried. Chromium is defined by the US government as a critical mineral.
Deposits in the 2023 Resource are defined by 156 drill holes from a total of 230 holes drilled on the Stillwater West property and include all holes from the Company’s three campaigns to date.
The 2023 Resource is contained within five deposits in the 9-kilometer central area of the project, all of which are open along strike and at depth. Multi-kilometer scale geophysical targets (Figure 1) and metal-in-soil anomalies indicate excellent expansion potential (Figures 2 to 4). Untested anomalies and earlier stage targets extend across much of the 32-kilometer-long Stillwater West project.

An NI 43-101-compliant technical report on the 2023 Resource for the Stillwater West project will be filed on Sedar.com within 45 days.

Michael Rowley, President and CEO stated, “We are very pleased with the expanded 2023 resource, which returned substantial increases in tonnage and contained metals while also increasing the high-grade component. Overall, these increases speak to the fantastic growth potential and under-explored nature of the Stillwater West project, and to our ability to rapidly increase resources in these wide-open deposits with targeted expansion drilling at low discovery costs. Our Stillwater West project, with its world-class endowment of eight critical minerals, is unique in the United States as a district-scale asset located in an active, producing district that has a long history of large-scale critical mineral production. The US government has recognized the importance of critical minerals to both economic and national security interests and is taking increasing action to secure domestic supply of these key metals at a time when we are advancing Stillwater West and demonstrating its potential. Our exceptional team, with multi-decades of experience at both Stillwater and in the parallel layered geology of the Bushveld Igneous Complex, is well-positioned to advance the asset. We look forward to continuing to build on our success and low discovery costs as we finalize our follow up expansion programs for 2023.”

Dr. Danie Grobler, Vice-President of Exploration, commented, “The 2022 field season, with a renewed focus on geology and structure, has contributed to the understanding of the multi-target geometry and mineralization controls within the Ultramafic Series of the Stillwater Complex, as an analogue to the Platreef of the Bushveld Complex. Our advanced understanding of Platreef-style mineralization and ore mineralogy, and our collaboration with Professor Wolfgang Maier at Cardiff University United Kingdom, as well as key staff at the US Geological Survey, has increased our confidence in the stratigraphic and structural models guiding resource estimation. Enhanced continuity and a significant tonnage increase, as well as increased medium and higher-grade categories, is a direct result of this effort. Our 2023 exploration programs will be focused on expansion of these thick zones of mineralized pegmatoidal pyroxenite/peridotite and associated chromites, as well as broad zones of massive to net-textured sulphides near the base of the layered sequence. We are seeing similar metal distribution characteristics when compared to the Platreef, as well as sulfur contents in relation to distance from the footwall contact. Our direct application of the detailed controls to mineralization in the Platreef-style models is guiding us along an exciting path of discovery.”

TABLE 1 – Grade and Contained Metal at Various NiEq Cut-off Grades

Stillwater Critical Minerals, Wednesday, January 25, 2023, Press release picture

Stillwater West Inferred Mineral Resource Estimate, January 20, 2023

Notes: 1) In-Pit Inferred Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Values in this table reported above and below the cut-off grades are only presented to show the sensitivity of the block model estimates to the selection of cut-off grade. Equivalent grade and contained metal calculations do not include Rhodium values; 2) All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add or calculate exactly due to rounding.

TABLE 2 – BASE CASE – Grade and Contained Metal by Deposit at 0.20% NiEq Cut-Off (Equals 0.62 g/t PdEq) Stillwater West 2023 Inferred Mineral Resource Estimate, January 20, 2023

Notes: 1) No assays shown as – ; 2) equivalent contained metal and grades do not include Rh. See additional notes on page 4.

2023 Exploration Planning

The Company is finalizing 2023 exploration plans with work expected to include extension of the highly effective geophysical surveys and completion of expansion drilling, focused on large, thick zones of mineralized pegmatoidal pyroxenite and peridotite within the resource areas. These zones show direct parallels to the thick Flatreef-style mineralized zones discovered in recent years by Ivanhoe Mines on the Platreef. A second focus for drilling will be to expand on the nickel-rich massive sulphide zones, as well as the very high-grade gold-PGE mineralization within structurally controlled zones.

Metallurgy

Preliminary metallurgical assessments by SWCM returned strong nickel tenor in sulphides drilled by the Company to date. In addition, favorable historic bench-scale metallurgical results completed historically by AMAX at the Iron Mountain target area demonstrate the potential for effective nickel and copper sulphide flotation and PGE recovery. Sample collection for more detailed metallurgical testing is on-going as part of the expanding development of Stillwater West, with a view to including full metallurgical assessment in future studies.

Carbon Capture at Stillwater West

All five deposits in the 2023 Resource contain desirable nickel sulphide mineralization that has been shown to require a much lower environmental footprint in subsequent processing to nickel metal or nickel sulphate in comparison to the laterite nickel ores that dominate global production. As part of SWCM’s commitment to global sustainability initiatives, the Company is also examining the potential for large-scale carbon sequestration with the objective of further reducing and possibly eliminating the carbon footprint of a potential mining operation at Stillwater West.

Preliminary results demonstrate the presence of certain ultramafic minerals that are known to have high capacity to bind carbon dioxide by a natural process known as mineral carbonation. As announced in a news release on September 23, 2021, the Company is continuing its research with Dr. Greg Dipple and his team at ARCA (formerly based at the University of British Columbia, Canada), to assess the capacity of rock samples from Stillwater West to bind carbon dioxide for permanent disposal as part of a potential mining operation. The Company has partnered with Cornell University for more active carbon sequestration methods, as well as hydrometallurgical processing.

This work strongly aligns with SWCM’s Environmental, Social and Governance guidelines and principles, and the incorporation of carbon uptake may bring financial benefits via initiatives such as the 45Q Tax Credit for Carbon Oxide Sequestration that is now in place in the US.

About Stillwater West

Stillwater Critical Minerals is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions SWCM as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s operating PGE mines in south-central Montana, USA¹. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. SWCM’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex². Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update announced in January 2023.

Stillwater Critical Minerals’ Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario is currently under an earn-in agreement with Heritage Mining and the Company also holds the Kluane PGE-Ni-Cu-Co project on trend in Canada‘s Yukon Territory.

Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.

Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com Phone: (604) 357 4790
Web: http://criticalminerals.com Toll Free: (888) 432 0075

Resource estimate notes for Tables 1 and 2:

The classification of the current Mineral Resource Estimate into Inferred is consistent with current 2014 CIM Definition Standards – For Mineral Resources and Mineral Reserves.
All figures are rounded to reflect the relative accuracy of the estimate. Totals may not add or calculate exactly due to rounding.
All Resources are presented undiluted and in situ, constrained by continuous 3D wireframe models, and are considered to have reasonable prospects for eventual economic extraction.
Mineral resources which are not mineral reserves do not have demonstrated economic viability. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
The update MRE is based on data for 156 surface drill holes representing 29,392 m of drilling, including data for 14 surface drill holes for 5,143 m completed by Stillwater in 2021.
The mineral resource estimate is based on 6 three-dimensional (“3D”) resource models representing the Chrome Mountain (Hybrid and DR), Camp, HGR, Central and Crescent Zones.
Composites of 1.2 to 3.0 m have been capped where appropriate.
Fixed specific gravity values of 2.90 – 3.10 g/cm3 (depending on deposit) were used to estimate the Mineral Resource tonnage from block model volumes (% block model). Waste in all areas was given a fixed density of 2.9 g/cm3.
Cu, Ni, Co, Pt, Pd, Au and Cr are estimated for each mineralized zone; S and Rh for the majority of the zones. Blocks (5x5x5) within each resource model were interpolated using 1.2 to 3.0 m capped composites assigned to that resource model. To generate grade within the blocks, the inverse distance squared (ID2) interpolation method was used for all domains.
Based on a review of the project location, size, geometry, continuity of mineralization and proximity to surface of the Deposits, and spatial distribution of the five main deposits of interest (all within a 8.7 km strike length), it is envisioned that the Deposits may be mined by open pit.
In-pit Mineral Resources are reported at a base case cut-off grade of 0.20% NiEq. Pit optimization and Cut-off grades are based on metal prices of $9.00/lb Ni, $3.75/lb Cu, $24.00/lb Co, $1,000/oz Pt, $2,000/oz Pd and $1,800/oz Au, assumed metal recoveries of 80% for Ni, 85% for copper, 80% for Co, Pt, Pd and Au, a mining cost of US$2.50/t rock and processing and G&A cost of US$18.00/t mineralized material.
The in-pit Mineral Resource grade blocks were quantified above the base case cut-off grade. At this base case cut-off grade the deposits show excellent geologic and grade continuity. The project is at an early stage of exploration and all deposits are open along strike and down dip. The cut-off grades should be re-evaluated in light of future prevailing market conditions (metal prices, exchange rates, mining costs etc.).
The results from the pit optimization are used solely for the purpose of testing the “reasonable prospects for economic extraction” by an open pit and do not represent an attempt to estimate mineral reserves. There are no mineral reserves on the Property. The results are used as a guide to assist in the preparation of a Mineral Resource statement and to select an appropriate resource reporting cut-off grade. Pit optimization does not represent an economic study.
The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
The Author is not aware of any known mining, processing, metallurgical, environmental, infrastructure, economic, permitting, legal, title, taxation, socio-political, or marketing issues, or any other relevant factors not reported in this technical report, that could materially affect the current Mineral Resource Estimate.

Qualified Person

The Stillwater West PGE-Ni-Cu-Co + Au project 2023 Resource estimate was prepared by Allan Armitage, Ph.D., P.Geo., of SGS Geological Services, an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) with an effective date of January 20, 2023. Armitage conducted a recent site visit to the property on June 29 and 30, 2022. Mr. Armitage reviewed and approved the technical content of this news release with respect to the 2023 Resource estimate.

Mr. Mike Ostenson, P.Geo., is the Qualified Person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure outside of the 2023 Resource estimate that is contained in this news release.

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 Stillwater Critical Minerals 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 Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

Figure 1 2023 DEPOSIT MODELS WITH SELECT DRILL RESULTS OVER 3D INDUCED POLARIZATION (IP) GEOPHYSICAL SURVEY RESULTS

Figure 2 2023 DEPOSIT OUTLINES WITH DRILL DATA OVER PRECIOUS AND BASE METALS IN SOILS

Figure 3 2023 DEPOSIT OUTLINES WITH DRILL DATA OVER GEOPHYSICS (CONDUCTIVITY)

Figure 4 14 TARGET AREAS ACROSS MAIN CLAIM BLOCK INCLUDING PICKET PIN (UPDATED JANUARY 2023)

SOURCE: Stillwater Critical Minerals

Tags #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #StillwaterWest, Critical Minerals, Metallic Group of Companies, Michael Rowley, PGE, Stillwater Critical Minerals

Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Metallic Minerals Announces Gold Production Royalty Agreement with Parker Schnabel and Little Flake Mining of Discovery Channel’s Gold Rush Television Series

Post author By admin
Post date January 24, 2023

VANCOUVER, BC / ACCESSWIRE / January 24, 2023 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce signing a production royalty agreement on 5 ½ miles of alluvial gold claims at its Australia Creek property in the Klondike Gold District of Canada’s Yukon Territory, with Little Flake mining, a company owned and operated by Parker Schnabel of Discovery Channel‘s top-rated television series, “Gold Rush“.

Under the terms of the agreement, Little Flake will be granted exclusive rights to extract gold from the Australia Creek property, with Metallic Minerals receiving a percentage of the production as a royalty. This partnership will combine Metallic Minerals’ expertise in mineral exploration and Little Flake’s experience in gold mining to maximize production and profitability for both groups in the region. Mr. Schnabel is recognized as a highly experienced miner and, in December 2022, was awarded the Robert E. Leckie Award for Excellence in Environmental Stewardship by the Yukon Government for reclamation work in the Klondike goldfields.

“We are excited to be working with Parker and the highly experienced Little Flake mining team and believe this partnership will be lucrative for both our companies, given Little Flakes track record of impressive alluvial gold production,” said Greg Johnson, Metallic Minerals Chairman & CEO. “Our recent gold discoveries at Australia Creek represent a major extension of the Klondike to the east and is one of the biggest new discoveries in this historic district in decades. Metallic Minerals is one of the largest owners of alluvial gold mining claims in the Yukon Territory, including this large block of unmined claims in the Klondike. Starting with exceptional operators like Little Flake, we anticipate the potential for the generation of significant production royalties, which will provide funding toward our hard rock silver and copper exploration projects in Yukon and Colorado. An important criterion for our evaluation of potential additional alluvial operators will be demonstrated operational excellence and environmental stewardship that aligns with Metallic Minerals focus on ESG values.”

Parker Schnabel, owner and operator of Little Flake Mining, commented, “Our award-winning team looks forward to working with Metallic Minerals and we plan to hit the ground running on Australia Creek. Planning is underway for a 400-hole drill program this winter on the property and we anticipate beginning mining operations this spring. This under-explored part of the Klondike shows vast potential for new discoveries, and we believe our collaboration with the veteran exploration team at Metallic will unlock this potential for both our groups.”

The agreement is effective immediately with production targeted to begin by June. The companies will be working together closely to ensure a rapid and successful start-up for the partnership.

Under the terms of the Australia Creek property agreement, Little Flake must complete a $1 million minimum annual work commitment and pay Metallic Minerals an annual advance royalty plus a variable royalty on all gold production.

About Australia Creek

Metallic Minerals holds a 100% interest in 36.4 square kilometres of mining rights along the Australia Creek drainage south of Dawson City, Yukon. Australia Creek is part of the historic Klondike gold district that is estimated to have produced over 20 million ounces of gold since its discovery in 1898. Australia Creek and its benches are now recognized by Yukon Geological Survey as the eastern continuation of the highly productive Klondike Goldfields, which is the largest placer gold producing area in the Yukon. Modern, open-pit operations in the Klondike have doubled production in the region over the past decade¹.

Despite extensive mining activity nearby, Australia Creek itself was not historically mined due to its importance as a source of water and hydro-electric power for the floating dredge operations that were conducted in the area between the 1920s and 1960s. However, exploration drilling at Australia Creek has returned gold-in-gravel values that compare to some of the best producing areas of the Klondike presenting an exciting opportunity for the Company.

Figure 1: Klondike Gold District and Metallic Minerals’ Properties

Metallic Minerals Corp., Monday, January 23, 2023, Press release picture

2023 AMEBC Mineral Roundup Core Shack

Metallic Minerals is very pleased to announce that we have been invited to participate in this year’s AMEBC Mineral Roundup conference in Vancouver and will be displaying intervals of drill core from the Keno Silver project and our La Plata project on Wednesday, January 25^th and Thursday, the 26^th. Key members of our management and technical teams will be on hand to discuss the project and opportunity. Visit us at booth #1016 in the Core Shack. For more information and to register, visit here.

Vancouver Resource Investment Conference – Presentation

Metallic Minerals President, Scott Petsel, will be providing a corporate update and participating in a moderated roundtable discussion during the upcoming Vancouver Resource Investment Conference on Sunday, January 29^th at 3:30 PM in the Yukon Pavilion. For more information, visit here.

About Little Flake Mining

Little Flake is a mining company founded and owned by Parker Schnabel of the hit Discovery Channel television series Gold Rush. Now in its thirteenth season, Gold Rush is Discovery Channel’s number one rated and most watched television series. Little Flake specializes in placer gold mining and operates in the Klondike region of Canada and in Alaska. Mr. Schnabel comes from a multi-generational mining family and under Schnabel’s entrepreneurial leadership, Little Flake has become one of the largest and most successful operators in the Yukon’s placer gold mining industry.

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company, focused on silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon, and copper, silver and critical minerals in the La Plata mining district in Colorado. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Hecla Mining’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco in September 2022. In April 2022, Metallic Minerals announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators. All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com Phone: 604-629-7800
Email: cackerman@mmgsilver.com Toll Free: 1-888-570-4420

¹Yukon Geological Survey (“YGS”) Yukon Placer Mining Industry Report 2010-2014

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, statements about expected results of operations, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals 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, unsuccessrul operations, 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 Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

SOURCE: Metallic Minerals Corp.

View source version on accesswire.com:
https://www.accesswire.com/736439/Metallic-Minerals-Announces-Gold-Production-Royalty-Agreement-with-Parker-Schnabel-and-Little-Flake-Mining-of-Discovery-Channels-Gold-Rush-Television-Series

Base Metals Energy Junior Mining Rover Metals

Rover Metals Provides Jurisdictional News for Western Nevada Lithium

Post author By admin
Post date January 23, 2023

VANCOUVER, British Columbia, Jan. 23, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) reports on the progress being made in claystone lithium mining in southwest Nevada.

Southwest Nevada Claystone Jurisdiction
In the past six months, both Cypress Development Corp. (Sep-2022) and American Lithium Corporation (Jan-2023) have reported on the recovery of battery grade lithium carbonate from their respective claystone lithium projects in southwest Nevada. See the link to the jurisdictional map below. Cypress Development owns the Clayton Valley project, and American Lithium owns the TLC project. Additionally, on January 16, 2023, feasibility-stage Ioneer Ltd. announced the finalization of a conditional commitment for a proposed loan of USD700 million from the U.S. Department of Energy Lian Programs Office.

Jurisdictional Map
https://rovermetals.com/lgllocation

Judson Culter, CEO at Rover Metals, states “claystone lithium mining continues to disrupt an industry that is trying to reinvent itself to become more environmentally friendly and sustainable. Mining of claystones uses less water than traditional brine lithium mining. The majority of the claystone lithium projects are also nearer to surface then hard rock lithium projects, and as a result, are less intrusive to underground ecosystems. Additionally, claystone operations require a more simplified mining circuit to process lithium as compared to hard rock operations. Innovations in claystone mining being made by later-stage companies like Cypress Development Corp. and American Lithium Corporation continue to decrease the cash cost per production tonne of Lithium Carbonate (Li²CO³). Cypress Development’s prefeasibility study (dated August 5, 2020 and amended March 15, 2021) for its Clayton Valley Project, NV, estimates the cash production per tonne of lithium to be approximately USD3.500 per tonne. Historic brine lithium mining operations typically have a cash cost per tonne of between USD2,500 – USD4,000 tonne¹, putting Cypress Development’s claystone project will within industry standards.

Rover Metals’ Let’s Go Lithium project is an early stage comparable to both the TLC project and the Clayton Valley project. The claystone at LGL is at and near surface, extending to an average depth of approximately 100 meters. The LGL project is also located close to the historic Franklin Wells hectorite mine (see map link above) which has documented historic high-grade lithium production². Exploration work done at LGL to date also logs the claystone body to be well above important underground ecosystems in the area. In H2 of 2022, Rover Metals reported on some very prospective surface grab samples from the LGL project. The Company’s next phase of exploration will be a maiden reverse circulation drill program at LGL, subject to permit approval from the Bureau of Land Management.

Industry and public mining company reports.
Gregg Wilkerson, Bureau of Land Management, Bakersfield, CA 93301; Larry Vredenburgh , Bureau of Land Management; Thomas J. Serenko , Southern Clay Products, Inc; Ted H. Eyde, Gadsden Sonora Holdings LLC

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. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go Lithium project. Rover Metals is an attractive affordable early-stage lithium stock for investors wanting exposure to the sector.

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 Canada and the U.S.
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.
Subscribe to our Newsletter on our 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) 754-2855

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 or 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 or 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.

Base Metals Energy Junior Mining Project Generators

Riverside Stakes the Duc Project in the Porcupine Mining District, Ontario

Post author By admin
Post date January 23, 2023

Vancouver, British Columbia–(Newsfile Corp. – January 23, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has staked additional claims in northwestern Ontario and acquired the Duc Project (“the Project”), located south of the town of Kapuskasing, part of the Porcupine Mining District. The Project is roughly 600 hectares in size and located west of the past producing Agrium Ltd. carbonatite phosphate mine, within the Wawa Subprovince, which hosts several rare earth element occurrences and orogenic gold deposits. Gold typically occurs in older folded rocks associated with larger northeast trending structures related to Kapuskasing Structural Zone (“KSZ”). The Wawa Subprovince is host to multi-million-ounce large gold mines that include Alamos Gold’s Island Gold Deposit and Argonaut’s Magino Gold Deposit amongst others.

Riverside’s President and CEO, John-Mark Staude stated: “We are excited to pick up more prospective ground in Ontario within the fertile Wawa Subprovince, which is host to many present and past producing mines in Ontario and Minnesota. Using the company’s prospect generator approach, experience in the belt and industry presence, we plan to add value to the Duc Project through additional exploration and joint-venture partner-funded programs.”

The Project area has excellent infrastructure, with road access from the Trans-Canada Highway and only 10km from the producing Agrium Ltd. Mine. The Project also has nearby existing power and within a 40-minute drive from the town of Kapuskasing (pop. 8,300). Interest in Ontario’s critical minerals sector has attracted new explorers to this region, which in our opinion can open this area further to development for the rare earth element potential, along with the known gold endowment.

The Project is underlain by an Archean-aged metavolcanic and metasedimentary suite consisting of greywacke, arkose, and iron formation similar to the rocks known to host both the carbonatite and gold deposits. To the west and north, the terrain is underlain by east-west striking metasedimentary schists and mafic metavolcanic flows belonging to the Quetico Subprovince. The south and east areas of the Project are underlain by hornblende-quartz feldspar gneiss and granite bodies belonging to the Wawa Subprovince. The Project also lies within the LePage Fault System. This system is part of the western margin of the KSZ and consists of a series of parallel northeast trending fault structures, which include the Rufus Lake and Opasatika Lake faults. Both faults cross the property and are easily identifiable on the regional government airborne magnetic survey sheets. Given the structural feeders and tectonic evolution the Company sees high prospectivity for discoveries of potential large bodies associated with dynamic tectonic- magmatic evolution.

Figure 1:Geology on regional airborne mag

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/152129_0b54368a3429eb93_002full.jpg

Figure 2: Simplified Cross Section

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/152129_0b54368a3429eb93_003full.jpg

The next phase of proposed exploration includes ground-based geophysics building upon previous work to further refine the larger structures likely responsible for gold mineralization in the area. Past work included sonic drilling and basal till sampling which may be needed in areas of thick cover.

Qualified Person & QA/QC:

The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $8M 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
Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Mehran@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152129

Base Metals Energy Junior Mining Precious Metals

Mundoro Options to BHP Exploration Properties in Timok, Serbia

Post author By admin
Post date January 23, 2023

Vancouver, British Columbia–(Newsfile Corp. – January 23, 2023) – Mundoro Capital Inc. (TSXV: MUN) (www.mundoro.com) (“Mundoro” or the “Company“), announces it has entered into a definitive agreement with a wholly owned subsidiary of BHP Group Limited (“BHP“), which provides BHP with the right to earn-in to three (each, an “Option“) exploration areas that Mundoro holds in the Timok region (“Timok Properties“).

Ms. Teo Dechev, Chief Executive Officer, President and Director of Mundoro commented, “Mundoro welcomes BHP as an exploration partner that recognizes the potential of further exploration in the western Tethyan Belt. We are looking forward to commencing field exploration at the Timok Properties in order to advance targeting and testing of undercover, and near surface, porphyry and related epithermal systems in the Timok region of eastern Serbia.”

Ms. Dechev added, “Mundoro has established a decade-long history of generative and early-stage exploration in Serbia and Bulgaria. Partner funded exploration programs along with Mundoro’s generative programs have invested over C$30 million of exploration expenditures which bring value to stakeholders in the communities where we operate, to our partners, and to our shareholders.”

Regional Setting

The porphyry copper projects under the Options with BHP are located in and around the Timok Magmatic Complex in Serbia. The Timok region is known as a mining district with more than 100 years of mining comprising approximately 4 billion tons in porphyry systems over 5 known mines. The Timok Magmatic Complex is host to the largest copper-gold porphyry deposits in the western portion of the Tethyan Belt such as (i) Cukaru-Peki, a high sulphidation epithermal copper-gold and porphyry copper deposit, (ii) Bor underground mine which is a copper-gold porphyry (“Bor Mining Complex”), (iii – iv) Veliki Krivelj and Majdanpek open-pit mines which are both copper-gold porphyries and (v) the recently re-opened Cerovo porphyry copper -gold open-pit mine (see Figure 1).

Dr. Richard Jemeilita, Chief Geologist at Mundoro commented: “The Timok Properties represent a district scale, attractive exploration package in this prospective mineral belt in Serbia. Our exploration team in the region has identified, in the South Timok Properties exploration area, extending south from the Timok Magmatic Complex, continuation of fertile geological units for further copper exploration. We are encouraged by the initial reconnaissance sampling which has identified anomalous copper zones.”

Follow our weekly updates on: LinkedIn and Twitter: @Mundoro

Figure 1 – Location Map for Timok Region, Serbia

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/2408/152060_caef5c79b404a95d_001full.jpg

Property Information

Borsko

The Borsko Jezero Project (“Borsko“) is located in the central portion of the Timok Magmatic Complex and aggregates an exploration area of 34.5 sqkm. The project is directly adjacent to and west of the producing Bor copper porphyry mine (see Figure 1). Exploration completed to date by Mundoro has identified several targets of which, Target 1 is an undercover preserved advanced argillic alteration lithocap covering an area approximately 1.6 km in strike length, discovered using a combination of geophysical techniques. The Target 1 system contains elevated copper-gold-arsenic geochemical results indicative of high sulphidation epithermal type mineralization with elevated copper at the bottom of the lithocap suggesting a porphyry source beyond the immediate drill tested area.

South Timok

An area that aggregates 213 sqkm, located at the southern end of the Timok Magmatic Complex and approximately 60 km south-southeast of Bor mining district in Central Timok. The northern parts of exploration ground is covered by Paleogene sediments interlayered with Paleogene pyroclastics, while the central area consists of Upper Cretaceous sediments and volcanics. To the east the area is almost entirely covered by Upper Cretaceous volcanics from the Timok Magmatic Complex. Hornblende andesite that intrudes the Upper Cretaceous sediments from both licenses are considered to have the potential for copper-gold porphyry and epithermal related systems. Several small-scale coal mines and old workings have been exploited by the state during the 1950’s in this area.

The southern portion of the exploration area comprises Cretaceous volcano-sedimentary lithologies intruded by late Cretaceous latite intrusions and partly overlain by Paleogene sediments. The volcanic-intrusive lithologies form part of the northwest-southeast L-shape-striking Cretaceous magmatic arc of Eastern Serbia. Mundoro started a stream sediment program over the favorable geological setting in the southern portion of the exploration area that yielded several drainage areas anomalous for gold, copper, lead and zinc within two outlined targets internally named Ponor North and Ponor South, respectively.

Trstenik

This exploration area covers an aggregate of 55 sqkm and lies within the northern portion of the Timok Magmatic Complex directly north of Majdanpek Mine Complex. To date, the systematic exploration work carried out by Mundoro in the exploration area has identified several target areas. Two of the targets at the southern end of the exploration area have similarities with the Majdanpek deposit in that the targets share similar geology, structural settings, and mineralisation – porphyry and skarn/massive sulphide replacement type and occur along strike of the main Timok trend.

Transaction Overview

Each of the three Options provides BHP with the right to earn a 100% interest in the relevant Timok Property by making (i) annual cash payments and operator payments (“Payments”) to Mundoro, with the aggregate amount of Payments for the three properties over three years amounting to approximately US$1,700,020, and (ii) incurring exploration expenditures within three years on the three properties amounting to US$7,500,000. The earn-in also includes an exploration expenditure commitment related to drilling by March 2023. BHP may exercise each Option independently or elect to extend each Option by one year by making additional Payments and incurring additional exploration expenditures. Upon exercise of each Option, Mundoro will retain a 2% net smelter return (“NSR”) royalty that includes development milestone payments for a total up to US$9,000,000 and annual cash payments until commercial production commences. Mundoro is appointed as the initial operator under the Options.

Qualified Person

The scientific and technical information in this news release was prepared under the supervision of, and approved by, T. Dechev, a Qualified Person as defined by NI 43-101, and the Company’s Chief Executive Officer and R. Jemielita, PhD, MIMMM, a Qualified Person as defined by NI 43-101 and Chief Geologist to the Company.

About Mundoro Capital Inc.

Mundoro is a publicly listed company on the TSX-V in Canada and OTCQB in the USA with a portfolio of mineral properties focused primarily on base and precious metals. To drive value for shareholders, Mundoro’s asset portfolio generates near-term cash payments to Mundoro from partners and creates royalties attached to each mineral property. The portfolio of mineral properties is currently focused on predominantly copper in two mineral districts: Western Tethyan Belt in Eastern Europe and the Laramide Belt in the southwest USA.

Caution Concerning Forward-Looking Statements

This News Release contains forward-looking statements. Forward-looking statements can be identified by the use of forward-looking words such as “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words or the negative thereof, and include the following: completion of earn-in expenditures, options and completion of a definitive agreement by the parties. The material assumptions that were applied in making the forward looking statements in this News Release include expectations as to the mineral potential of the Company’s projects, the Company’s future strategy and business plan and execution of the Company’s existing plans. We caution readers of this News Release not to place undue reliance on forward looking statements contained in this News Release, as there can be no assurance that they will occur and they are subject to a number of uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include general economic and market conditions, exploration results, commodity prices, changes in law, regulatory processes, the status of Mundoro’s assets and financial condition, actions of competitors and the ability to implement business strategies and pursue business opportunities. The forward-looking statements contained in this News Release are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this News Release are made as of the date of this News Release and the Board undertakes no obligation to publicly update such forward-looking statements, except as required by law. Shareholders are cautioned that all forward-looking statements involve risks and uncertainties and for a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to the Company’s filings with the Canadian securities regulators available on www.sedar.com.

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.

For further information, please visit Mundoro Capital website www.mundoro.com

Teo Dechev, Chief Executive Officer, President and Director
+1-604-669-8055
info@mundoro.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152060

Tags #InvestingInBatteryMetals

Base Metals Energy Rover Metals

Rover Metals Reprices Stock Options Issued to Consultants and Reprices Previously Oustanding Warrants Issued to Shareholders

Post author By admin
Post date January 20, 2023

VANCOUVER, British Columbia, Jan. 20, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that is has received approval from the Toronto Venture Exchange (the “TSXV”) to re-price issued and outstanding stock options granted to arm’s length consultants of the Company. Also, further to its news release of January 3, 2023, the Company has received approval from the TSXV to re-price and extend the lives of warrants issued under previous private placements.

Terms of the Stock Option Repricings
On a post-consolidation basis (see October 28, 2022 release), the Company has 208,332 stock options outstanding, with an exercise price of $0.36. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 58,333 stock options outstanding, with an exercise price of $0.39. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 50,000 stock options outstanding, with an exercise price of $0.45. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 29,166 stock options outstanding, with an exercise price of $0.72. The Company has amended the exercise price to $0.15 per option share.

On a post-consolidation basis, the Company has 8,733 stock options outstanding, with an exercise price of $0.90. The Company has amended the exercise price to $0.15 per option share.

A total of 354,564 outstanding stock options have had their exercises prices amended to $0.15 per warrant share.

Warrant Repricings
Further to its news release of January 3, 2023, the Company has received approval from the TSXV to reprice and extend the lives of the following issued and outstanding warrants:

No. of Warrants	Old Price	New Price	Expiry
6,170,799	$0.90	$0.15	May 31, 2025
2,981,237	$0.45	$0.20	May 31, 2025
849,953	$0.72	$0.20	August 23, 2024
179,719	$0.72	$0.20	January 27, 2025
138,887	$0.72	$0.20	April 24, 2025
208,333	$0.72	$0.20	May 31, 2025
10,528,928	Total

Pursuant with TSXV policies, the warrants now have an acceleration clause such that if the closing price for the Company’s shares are 25% higher then the exercise price (or greater) for a period of 10 consecutive trading days, then the warrant holders will have 30 days to exercise their warrants; otherwise, the warrants will expire on the 31st day.

Judson Culter, CEO at Rover Metals, states “repricing our stock options and warrants to these levels provides a realistic hurdle to access quick growth capital, free of corporate finance fees and marketing and travel fees that are associated with traditional financing instruments. Additionally, stock options and warrants priced at these new levels has the potential to reward our retail investors and consultants that have taken the risks associated with getting involved with our company in the early stages. We are committed to our shareholder-base and our management team will work hard in the coming year to try and unlock the value of these warrants for them.”

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.
Subscribe to our Newsletter on our 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) 754-2855

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 or 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 or opinions, or other factors, should change.

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.

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Category: Energy

Collective Mining Step-Out Drilling Confirms a Significant Southern Zone of Near Surface High-Grade Mineralization Including 32 Metres at 10.48 g/t Gold Equivalent

Silver Bullet Mines Seeks to Extend Warrants

Metallic Minerals Drills 1,540 g/t Ag Eq over 1.63 meters within 20.9 meters of 230 g/t Ag Eq at Keno Silver Project in Yukon, Canada

Do Silver Deficits Matter?

Stillwater Critical Minerals Expands Resource 62% to 1.6 Blbs Battery Metals and 3.8 Moz PGE+Gold at Stillwater West Project in Montana, USA

Metallic Minerals Announces Gold Production Royalty Agreement with Parker Schnabel and Little Flake Mining of Discovery Channel’s Gold Rush Television Series

Rover Metals Provides Jurisdictional News for Western Nevada Lithium

Riverside Stakes the Duc Project in the Porcupine Mining District, Ontario

Mundoro Options to BHP Exploration Properties in Timok, Serbia

Rover Metals Reprices Stock Options Issued to Consultants and Reprices Previously Oustanding Warrants Issued to Shareholders

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