Category: Energy

• APC-64 intersected 451.40 metres grading 2.67 g/t gold equivalent from near surface, including 98.50 metres @ 3.36 g/t gold equivalent in the sheeted CBM vein zone located above and contiguous to the Apollo porphyry system. On a gram x metre basis, APC-64 returned 1,206 g/t gold equivalent, which represents the second largest grade accumulation drilled to date at Apollo. The hole bottomed in mineralization with the final 10 metres grading 0.76 g/t AuEq.
  
• APC-63 intersected 593.65 metres grading 1.69 g/t gold equivalent including 353.10 metres @ 1.39 g/t gold equivalent from surface in the same sheeted CBM vein zone before transitioning into the brecciated porphyry system. The hole bottomed in mineralization with the final 11.85 metres grading 0.75 g/t AuEq.
  
• As a result of hole APC-63 and APC-64, the overall maximum known area of outcropping mineralization (combined brecciated porphyry and sheeted CBM vein zones) has expanded to 320 metres by 220 metres (previously 260 metres by 220 metres) and remains open for expansion to the north. New drill pads are nearing completion and are designed to test for extensions to the shallow mineralization, with drilling set to commence before the end of September 2023.
  
• Drill hole APC-67 was designed to test Target 2 to the northeast of the Apollo system and cut significant shallow mineralization grading 53.55 metres @ 1.31 g/t gold equivalent from 109.25 metres down hole. Based on new modelling, the Company believes that this intercept is an extension to the Apollo system and as a result the maximum known strike length of the system has been increased by 65 metres and now measures 520 metres in strike (previously 455 metres) by 395 metres width by 915 metres vertical. Apollo remains open for further expansion in various directions.
  
• Eleven new holes have been completed in the Apollo system with assays pending including APC-65 and APC-72, which cut long mineralized and continuous zones of the sheeted CBM vein system and the brecciated porphyry.

Ari Sussman, Executive Chairman commented: “The Apollo system continues to shine with the system continuing to expand. Our corporate strategy for the Guayabales project for the balance of 2023 and into 2024 is to focus on growth through the drill bit by looking to grow the sheeted vein and brecciated porphyry systems at Apollo and testing the six targets which surround it. In fact, we have already discovered new mineralization through reconnaissance drilling at Targets 1 and 2 with assay results outstanding for hole APC-68, which tested Target 3. Over the next few days, we will begin testing Target 6 for the first time and are excited about its potential given we have sampled oxidized mineralized sheeted CBM veins within a brecciated porphyry body at surface. Lastly, we have completed the initial two holes at the Plutus system’s northern corridor with a third hole about to start. It is a busy and exciting time for the Company with five drill rigs now operating at site.”

TORONTO, Sept. 7, 2023 /CNW/ – Collective Mining Ltd. (TSX: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results for four holes drilled at the Apollo area, which is part of the Guayabales project located in Caldas, Colombia. Apollo already hosts an outcropping high-grade, bulk tonnage copper-silver-gold porphyry system and six newly generated targets surrounding it. The porphyry system at Apollo owes its excellent metal endowment to an older copper-silver and gold porphyry system being overprinted by younger precious metal rich, carbonate base metal veins (intermediate sulphidation porphyry veins) within a magmatic, hydrothermal inter-mineral breccia and diorite porphyry bodies currently measuring 520 metres x 395 metres x 915 metres and open for expansion.

Details (See Table 1 and Figures 1-4)

This press release outlines results from four holes testing the Apollo system. Step out holes APC-63 and APC-64 were drilled northeastwards to test an upper zone of sheeted CBM veining and continued, directly below, within depth extensions to the main brecciated porphyry body. Exploratory holes APC-66 and APC-67 were drilled to test potential extensions to the Apollo system in previously undrilled areas in the northwest and at exploration Target 2 in the northeast.

APC-63 was drilled northeastwards from Pad 10 to a maximum downhole depth of 593.65 metres (557 metres vertical due to topography). The hole commenced in grade within oxides from surface and was drilled in continuous mineralization to the end of the hole. The first 353.10 metres downhole cut the recently discovered outcropping sheeted CBM vein zone located above the main brecciated porphyry body. The sheeted CBM vein zone hosts chalcopyrite, sphalerite, and galena up to 0.8% while the brecciated porphyry zone below consisted of sulphides filling the cement matrix hosting 0.2% chalcopyrite, 1.2% pyrite, 0.5% sphalerite, 0.3% galena and pyrrhotite (up to 0.7%). The hole bottomed in mineralization with the final 11.85 metres averaging 0.75 g/t gold equivalent with assay results as follows:

• 593.65 metres @ 1.69 g/t gold equivalent from surface (consisting of 1.46 g/t gold, 15 g/t silver and 0.03% copper) including:

APC-64 was drilled to the east-northeast from Pad 9 to a maximum downhole depth of 484.8 metres (435 metres vertical due to topography) and was designed to test the shallow, high grade, sheeted CBM zone and the main brecciated porphyry zone contiguous and below it. The drill hole intercepted 451.40 metres of continuous mineralization beginning at 33.40 metres downhole within the upper sheeted CBM vein zone for 98.50 metres with mineralization associated to sphalerite (up to 5%), galena (up to 3%), pyrite and chalcopyrite (up to 1%). Below this sheeted CBM zone, the hole transitioned into the brecciated porphyry zone until the end of the hole at 484.80 metres. At 309.40 metres downhole, a high-grade 70.95 metres long zone of brecciated porphyry with a strong CBM vein sulphide overprint was intercepted containing a sulphide cement matrix of chalcopyrite (0.5% to 1.5%), pyrite (up to 2%), pyrrhotite (up to 0.6%) and sphalerite and galena (up to 1%). The hole bottomed in mineralization with the final ten metres yielding 0.76 g/t gold equivalent. The following assay results are highlighted:

• 451.40 metres @ 2.67 g/t gold equivalent from 33.40 metres downhole (consisting of 1.48 g/t gold, 57 g/t silver and 0.26% copper) including:

As a result of holes APC-63 and APC-64, the zone of outcropping mineralization (combined brecciated porphyry and sheeted CBM vein zones), has expanded to 320 metres by 220 metres (previously 260 metres by 220 metres) and remains open for expansion to the north. New drill pads are nearing completion with drilling designed to test for further expansions to the shallow mineralization and scheduled to commence before the end of September 2023.

APC-66 was drilled steeply to the southwest from Pad 1 to a final downhole depth of 514.05 metres (503 metres vertical due to topography) and intercepted a much shallower projection to the brecciated porphyry zone in this area compared to what the model previously predicted. An upper zone at 245.20 metres downhole consists of 22.25 metres of CBM vein mineralization overprinting quartz diorite porphyry rock. A 101.05 metres zone of brecciated porphyry, commencing at 292.50 metres downhole, contains a sulphide cement matrix of chalcopyrite (0.1% to 0.2%), pyrite (up to 1.5%), pyrrhotite (up to 1.0%) and sphalerite (up to 0.3%). The following assay results are highlighted:

• 22.25 metres @ 0.51 g/t gold equivalent from 245.15 metres downhole (consisting of 0.28 g/t gold, 12 g/t silver and 0.04% copper), and
• 101.05 metres @ 0.87 g/t gold equivalent from 292.50 metres downhole (consisting of 0.62 g/t gold, 14 g/t silver and 0.04% copper) including:

APC-67 was drilled to the east from Pad 5 to test Target 2, located to the northeast of Apollo and which is one of the six recently generated new targets within the Apollo area. The hole was drilled to a downhole depth of 225.65 metres (149 metres vertical due to topography) and encountered 53.55 metres of mineralization from 109.25 metres downhole related to brecciated porphyry with its cement matrix consisting of chalcopyrite traces, pyrite (1.2%), sphalerite (1.0%) and galena (0.5%). Based on new interpretation by the Company, this intercept confirms an extension of the Apollo porphyry system to the northeast with maximum known dimensions now measuring 520 metres x 395 metres x 915 metres (previously 455 metres x 395 metres x 915 metres). The system remains open for expansion in the north, southeast and at depth with assay results as follows:

• 53.55 metres @ 1.31 g/t gold equivalent from 109.25 metres downhole (consisting of 1.13 g/t gold, 11 g/t silver and 0.02% copper) including:

Apollo Drill Program and Assay Update

The 2023 Phase II drilling program is advancing on schedule with assay results reported for 36 holes and an additional eleven holes awaiting assay results from the lab. Since the announcement of the discovery hole at Apollo in June 2022, a total of 67 drill holes (approximately 29,109 metres) have been completed and assayed.

With five diamond drill rigs now operating at site, the Company is focused on:

1. Expanding the Apollo porphyry system including depth extensions and high-grade sub-zones.
2. Further drill testing to expand the newly discovered, east-west trending, shallow and outcropping, sheeted CBM vein zone.
3. Testing the remaining three of six newly generated targets surrounding the Apollo porphyry system. Three targets have been drill tested to date with new mineralization being discovered at Targets 1 and 2 with assay results pending for a hole which tested Target 3.
4. Testing Plutus, a new large-scale porphyry target located up to 1.5 kilometres east of Apollo.
5. Generating new exploration targets for future drilling.

The Apollo 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 and represents a large and unusually high-grade copper-silver-gold porphyry system. Mineralization styles include early-stage porphyry veins, inter-mineral brecciated porphyry mineralization and multiple zones of late stage, sheeted, carbonate-base metal veins with high gold and silver grades. The Apollo area is still expanding as the Company’s geologists have found multiple additional outcrop areas with porphyry veining, breccia, and late stage, sheeted, carbonate base metal veins. (See press release dated April 18, 2023)

Results for holes outlined in this press release are summarized below:

Table 1: Assay Results for APC-63, APC-64, APC-66 and APC-67

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 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 system, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The Company’s near-term objective is to drill the shallow portions of the Apollo system, continue to expand the overall dimensions of the system, which remains open in most directions and test newly generated grassroots targets.

Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSX 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, soils 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 (@Ariski73) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussion with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always using phrases such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information. In this news release, forward-looking information relate, among other things, to: anticipated advancement of mineral properties or programs; future operations; future growth potential of Collective; and future development plans.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others: risks related to the speculative nature of the Company’s business; the Company’s formative stage of development; the Company’s financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties, as well as those risk factors discussed or referred to in the annual information form of the Company dated April 7, 2022. Forward-looking information contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements and there may be other factors that cause results not to be anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information.

SOURCE Collective Mining Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2023/07/c3353.html

Burlington, Ontario–(Newsfile Corp. – September 7, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces the continuation of mining operations at the Buckeye Mine in Arizona and a cash infusion.

The aberrant extremely hot weather continued in Arizona throughout most of August, preventing work from then being carried out at the mill or at the Buckeye Mine. The temperature on the concrete mill pad during this period on occasion exceeded 150 degrees Fahrenheit. Running the mill in such hot weather would have been a danger to the proper functioning of the equipment. Mining, whether during the day or at night, would have been an unacceptable safety risk to the field team.

The hot weather has finally abated and the Company is pleased to announce the continuation of mining operations at the Buckeye Mine. Processing material at the mill should continue within roughly one month.

SBMI has been advised by the United States Forest Service that in August, 2023 lightning caused a fire near the Buckeye Mine. The USFS graded the road leading to the Buckeye Mine to allow it to bring in equipment needed to fight the fire.

The annual taxes on the BLM lands comprising part of the Black Diamond property, which surrounds the Buckeye Mine, have been paid.

SBMI is pleased to announce it has entered into an agreement with an arm’s length third party (the “Investor”) for the amount of USD$350,000. This investment is structured as a loan having a five year term and a zero per cent interest rate. The first tranche of this investment is USD$225,000 which has been received by SBMI, and the second tranche of USD$125,000 is contemplated to be forwarded to SBMI five days after the first shipment of silver dore has been received by the Investor. The loan is secured by two pieces of equipment onsite in Arizona.

This relationship with the Investor should allow SBMI to better execute its business model, substantially increase its revenue and expand its operations.

The Investor carried out an extensive due diligence review on SBMI, including a site visit to the Buckeye Mine and the mill, and including metallurgy on sample dore bars from the Buckeye. As a result of such extensive review, the Investor has asked SBMI to work with it to advance other projects in which the Investor is involved. The first two such projects under consideration are in Arizona and Colorado. It is intended that SBMI will provide mining, metallurgical and processing services to the Investor using SBMI’s state-of-the-art milling infrastructure and facilities. The SBMI mill should be capable of handling any of the Investor’s products under consideration, and being modular, can be expanded to increase its capacity as required.

The Investor is also a potential purchaser of dore bars to be produced at the mill. As the relationship evolves, it is likely the Investor will become SBMI’s largest customer.

On July 7, 2023 SBMI announced the extension of the silver purchase agreement with the Purchaser described in its April 27, 2023 and May 4, 2023 press releases. Effective June 30, 2023, the Purchaser and SBMI verbally agreed to extend the term of such agreement to August 31, 2023, and worked towards reducing such verbal agreement to writing. The Purchaser and SBMI continue in good faith to try to reduce the June 30, 2023 verbal agreement to writing including a new extension date.

The test-run shipment of silver, as described in the Company’s June 14, 2023 press release, from SBMI to the Purchaser was received and tested by the Purchaser. The 102 ounces comprising the test-run contained dore bars consisting of varying amounts of silver, copper, and other materials. The Purchaser has tested the dore bars to determine what composition is best suited for its purposes.

As for further detail in the mining activities, the Company reached the Treasure Room in March, 2022. Higher grade material was found in the wall rock, and the Company’s intention at the time was to commence mining on the other side of the Treasure Room where the vein is clearly visible. Unfortunately, unsafe working conditions due to ceiling instability meant the Company could not cross the Treasure Room and instead had to mine around the Treasure Room into the diabase. This added roughly 150 feet of drifting through harder host rock. During this time, encouraging values were obtained from samples but were not of sufficient volume to run the mill efficiently.

Until paused by the unusual heat wave, such mining activity had advanced approximately 600 feet from the portal entrance to the Treasure Room, then around the Treasure Room, and then along the vein. The team now continues to drift along the vein towards a targetted area. The Company estimates that it is relatively close to drifting into historical drill holes which can be traced from the casings on surface. The Company’s information related to those historical drill holes and the historical assaying of them do not meet NI43-101 standards and cannot be disclosed.

In furtherance of its understanding of the vein and the host rock, a Lidar survey of the Buckeye Mine was recently carried out.

At some time in the future, the Company will return to the Treasure Room (once fully safetied) and will develop the lower levels where the Company believes there to be more higher grade material. The cost and timing of such activities have not been determined at this time.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/179793

Vancouver, British Columbia –News Direct– West Red Lake Gold Mines Ltd.

September 7, 2023 – TheNewswire – Global Stocks News – On September 6, 2023 West Red Lake Gold Mines (TSXV:WRLG) (OTC:WRLGF) CEO Shane Williams sent part one of seven communications to WRLG shareholders.

Williams has designed, built and operated mines around the world – for Skeena Resources, Eldorado Gold and Rio Tinto.

CEO Message Part 1: An Introduction to West Red Lake Gold Mines and its properties.

By Shane Williams – CEO of West Red Lake Gold Mines

Thank you for your interest in West Red Lake Gold Mines.

I know that you are busy and bandwidth is squeezed, so let’s cut to the chase.

Our flagship Ontario asset – The Madsen Gold Mine – is debt free, fully permitted, and has a brand new 800+ tonne per day mill, a tailings and water treatment facility.

The “lower-grade” near surface zone is about 3.5 grams/tonne gold, the higher-grade zone at 500 meters averages 9 grams/tonne gold.

At its peak, the asset was valued at over a billion dollars, 10X our current market cap. There is smart money heavily invested in the current project – Frank Guistra (10%); Sprott Resource (24%).

The previous operator was under-capitalised.  Debt repayment obligations forced the company into a quick-to-cash-flow mine model that was ultimately expensive and inefficient.

I have designed, built and operated mines (open pit and underground) in Greece, Turkey and Canada – for Skeena Resources, Eldorado Gold and Rio Tinto.  Under Frank Guistra’s guidance, my team conducted three months intense due-diligence on this project. It is clear to me and our technical team, the problems with this mine had to do with management strategies, not the asset itself.

Geologically, metallurgically, politically and environmentally we are not aware of any big negatives with this mine.

We purchased this asset for pennies on the dollar when nobody cared about gold. Investors are starting to care now. With global debt levels reaching $305 trillion, we anticipate the gold price reaching new highs.

The Red Lake District is one of the most prolific gold districts on the planet with over 30 million ounces produced. Our 47 Km2 land package is 13 X bigger than NYC’s Central Park.

Next week in Part 2 of my message to shareholders, I will explain how the previous operators got it wrong, and how we are getting it right.

Sincerely,

Shane Williams

We invite you to click on this button to learn more about West Red Lake Gold Mines.

On September 6, 2023 WRLG announced the beginning of surface drilling at the Wedge target, located about two kilometres southwest from its 100% owned Madsen Mine in the prolific Red Lake Gold District of Northwestern Ontario, Canada.

“The drilling program will consist of up to 3,000 metres with the goal of growing and upgrading the existing mineral resources at Wedge,” stated WRLG. “Which currently contain an Indicated mineral resource of 56,100 ounces grading 5.6 grams per tonne gold, with an additional Inferred resource of 78,700 oz grading 5.7 g/t gold.

HIGHLIGHTS:

• Surface exploration drilling to commence at the Wedge target – located 2 km southwest from the Madsen Mine
• Drilling will be focused on extending high-grade zones at Wedge and increasing confidence in the overall mineral resource
• Wedge currently hosts an Indicated resource of 56,100 oz of gold grading 5.6 g/t Au1 and an Inferred resource of 78,700 oz of gold grading 5.7 g/t Au1
• The Wedge resource sits adjacent to the past-producing Starratt-Olsen Mine which historically processed 823,554 tonnes grading 6.16 g/t Au for approximately 163,000 oz of gold[2]
• Previous drilling highlights from the Wedge target include:
• Hole PG17-486 Intersected 10.33 m @ 24.94 g/t Au, from 16.67 m to 27 m
  • Hole PG17-467 Intersected 16.6 m @ 17.49 g/t Au, from 11.45 m to 28 m
  • Hole PG17-482 Intersected 14.4 m @ 8.35 g/t Au, from 28 m to 42.4 m
  • Hole PG19-643 Intersected 1 m @ 108.5 g/t Au, from 103 m to 104 m

“Our team is very excited to be back drilling near the Madsen Mine asset,” stated Williams. “We view Wedge as a key component in our overall vision of staying committed to exploration and unlocking the full potential of all our high-grade assets in the Red Lake Mining District.”

“With Wedge being located just 2 km away from the existing mill facilities at Madsen,” continued Williams. “On fully patented claims and directly adjacent to the past-producing Starratt-Olsen mine, we can see a clear path forward for permitting at Wedge and view it as a high-caliber candidate for a future mill-feed source at Madsen.”

West Red Lake Gold has sold off heavily this week during a “pan-sell-off” that included bonds, metals, oil and crypto.

“A strong U.S. dollar and elevated U.S. Treasury yields are bearish outside market elements working against the precious metal [gold],” reported Kitco.com on September 6, 2023.

GSN is not aware of any negative material change to the company’s operations or its ability to build a profitable gold mine.

Contact: guy.bennett@globalstocksnews.com

Full Disclaimer

View source version on newsdirect.com: https://newsdirect.com/news/west-red-lake-gold-mines-wrlg-v-ceo-message-part-1-an-introduction-to-wrlg-and-its-properties-514170854

VANCOUVER, BC / ACCESSWIRE / September 5, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG)(OTC PINK:BWCGF) is pleased to announce that it has completed its maiden drilling program at the Cantoo Property located in southeast Alaska. Three drill holes totalling 1,356 meters were completed. Initial visual observation of the drill core suggests significant alteration and mineralization consistent with a porphyry system. The Cantoo Property is situated adjacent to the Canadian border and the historic Premier Gold Mine that is currently in redevelopment.

Drilling Highlights:

Blackwolf’s CEO Morgan Lekstrom states, “We are pleasantly surprised encountering indications of a porphyry system at Cantoo, although it was not unexpected given the history of the area and proximity to the Premier mine. Cantoo may represent a telescoping porphyry feeder complex to the high-grade Premier-Big Missouri epigenetic gold-silver veins, similar to the KSM-Snowfield system that underlies the Brucejack Mine to the north.

In summary, there are strong indications that we are in the right rocks and location as we’ve hit zones at depth that are encountered at surface. Assay results are pending for these initial drill holes as well as the summer surface sampling program and will be released when available. In order to make good use of the summer exploration window, the drill has been moved to the Harry Property while we await these results.”

The Cantoo Property has never been previously drilled yet had some historic mining and exploration performed in the 1920’s. Surface work during 2023 targeted multiple stacked shallow-dipping vein structures and breccias, including a 30 m (100ft) wide structure. Blackwolf’s surface sampling results at Cantoo include high-grade mineralization, with grades up to 30.4 grams per tonne (“g/t”) gold, 2,860 g/t silver and 5.8% copper.

The Cantoo Property is primarily underlain by the Texas Creek intrusive complex, with multiple phases of intrusive rocks with potassic, phyllic/QSP and propylitic alteration, along with multiple styles of copper mineralization. Additionally, drilling encountered zones of strong silicification and veining that correspond with the surface expressions of veins outcropping in cliffs at Cantoo.

QA/QC and Qualified Person

The analytical work on the Hyder project will be performed by MSA LABS, a certified analytical services provider, at its laboratory in Langley, British Columbia. All samples will be prepared using procedure PRP-910 (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-111 (30g fire assay with AAS finish) for gold and IMS-130 (0.5g, aqua regia digestion and ICP-MS/ES analysis) for rock samples, and IMS-230 (1.0g, 4-acid digestion and ICP-MS analysis) for core samples. Any samples containing >10g/t Au will be reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn will be reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis). Samples containing >1000 g/t Ag will be reanalyzed using method FAS-418 (30g fire assay with AAS finish) and samples containing >20% Pb will be reanalyzed using method STI-8Pb (volumetric titration).

The reported work was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no significant QA/QC issues.

Andrew Hamilton, P.Geo., Consultant to the Company, a Qualified Person under NI 43-101, has. reviewed and approved the scientific and technical content of this release.

About Blackwolf Copper and Ltd.

The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as five Hyder Area gold-silver and VMS properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the high-priority wide gold-silver veins at the Cantoo Property. Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. For more information on Blackwolf, please visit the Company’s website at www.blackwolfcopperandgold.com.

On behalf of the Board of Directors of Blackwolf Copper and Gold Ltd.

“Morgan Lekstrom”
CEO and Director

For more information, contact:

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.

Cautionary Statement Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements relating to the Hyder properties and the Company’s future objectives and plans. Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices and changes in the Company’s business plans. In making the forward-looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.

For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedar.com.

SOURCE: Blackwolf Copper and Gold Ltd

• Three core holes up to 676 meters long completed at Cantoo;
• Significant alteration and mineralization was encountered, consistent with a porphyry-style system similar to copper-gold +/- molybdenum deposits in the Golden Triangle;
• Strong silicification zones including veining with sulphides were intersected, that corresponds with surface expressions identified from surface sampling; and
• As the Company awaits assay results from Cantoo, the drill has been moved to test gold-silver targets at the Harry Project

Edmonton, Alberta–(Newsfile Corp. – August 15, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that, on August 15, 2023, it closed on a private placement (the “Offering”) by the issuance of 1,771,859 Units (as defined below) at a price of $0.07 per Unit and 5,312,500 FT Units (as defined below) at a price of $0.08 per FT Unit for aggregate gross proceeds of $549,030.

Under the terms of the Offering, each Unit consisted of one common share of the Company (“Common Share”) and one half of one warrant (“Warrant”). Each FT Unit consisted of one Common Share issued as a flow through share for the purposes of the Income Tax Act (Canada) and one half of one FT Warrant with each whole FT Warrant issued as a flow through share for the purposes of the Income Tax Act (Canada). Each whole Warrant and FT Warrant entitles the holder to acquire one additional Common Share (that is not a flow through share) at an exercise price of $0.10 per Common Share and shall expire on the earlier of: (a) 30 days following written notice by the Issuer to the Subscriber that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.12 per Common Share for 10 consecutive trading days; and (b) August 15, 2025.

The Company intends to use the proceeds from the Units for general working capital, and the proceeds from the Units and FT Units on exploration of its mineral projects in British Columbia, primarily targeting critical minerals. In particular, the proceeds from the FT Units will be used to incur flow-through critical mineral mining expenditures, as defined in the Income Tax Act.

In connection with the Offering, the Company issued 400,000 Units and 400,000 Finder Warrants (non-transferrable, with the same terms and expiry date as the Warrants) to Accilent Capital Management Inc.

The Common Shares and any Common Shares issued on exercise of the Warrants and Finder Warrants are subject to restrictions on trading until December 16, 2023 in accordance with the policies of the TSX Venture Exchange.

Following closing of the Offering, the Company has 149,644,119 Common Shares issued and outstanding. The Offering is subject to Final Acceptance by the TSX Venture Exchange.

Insiders subscribed for an aggregate of 142,857 Units, representing gross proceeds of $10,000. The purchase of such Units is considered to be a related-party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”),but is exempted from the requirements to obtain a formal valuation and to obtain minority approval, as the purchase of securities does not exceed 25% of the Company’s market capitalization. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101.

The Company did not file a material change report more than 21 days before the expected closing of the Financing because the details of the participation therein by related parties of the Company were not settled until shortly prior to closing of the Financing and the Company wished to close on an expedited basis for business reasons.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 66,000 ha (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

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

Caution concerning forward-looking information

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

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