Category: Energy

Vox Provides Development and Exploration Updates from Operating Partners

Post author By admin
Post date August 31, 2021

TORONTO, Aug. 31, 2021 /CNW/ – Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF)(“Vox” or the “Company“), a high growth precious metals focused royalty company, is pleased to provide recent development and exploration updates from royalty operating partners Norton Gold Fields Pty Ltd. (ASX: NGF) (“Norton Gold“), Zijin Mining Group Co., Ltd. (HKSE: 2899) (“Zijin Mining“), Silver Mines Limited (ASX: SVL) (“Silver Mines“), Jangada Mines plc (LON: JAN) (“Jangada“), Venturex Resources Limited (ASX: VXR) (“Venturex“) and Alamos Gold Inc. (TSX: AGI) (“Alamos“).

Riaan Esterhuizen, Executive Vice President – Australia stated, “The last month has delivered a significant number of value enhancing organic developments for our royalty properties, most notably the commencement of construction at the A$462M Binduli heap leach expansion project by Norton Gold. This Binduli expansion was the key near-term catalyst that Vox management anticipated when we acquired the Janet Ivy royalty in March 2021. Additional engineering study progress at Bowdens and Pitombeiras, combined with drilling success across numerous properties capped off a very exciting month for our royalty projects.”

Summary of Development and Exploration Updates

Construction commenced at Janet Ivy expansion project Binduli North by Zijin Mining subsidiary Norton Gold;
Scoping study begins on underground mining scenarios at Bowdens silver project by Silver Mines;
45% increase in total mineral resource estimates at Pitombeiras by Jangada;
A$10M drill program underway and final project approvals targeted in 2022 for the Sulphur Springs project by Venturex; and
Continued drilling and permitting update at Lynn Lake (MacLellan) by Alamos.

Janet Ivy (Producing) – Binduli North Expansion Construction Commencement

Vox holds a A$0.50/tonne production gold royalty over the Janet Ivy project, acquired in March 2021;
Upon full commercial production Binduli will be the largest heap leach project in Australia, according to Norton Gold detailed design engineering partner CPC Engineering’s announcement on February 3, 2021;
On August 1, 2021, Zijin Mining announced that:
- The project design, application for permits and licenses and other preparatory work of the Binduli North heap leaching project (royalty-linked) have been completed and the construction has commenced in June 2021;
- Application for permits and licenses for Binduli South heap leaching project (non-royalty linked) is being studied and taking place;
- After completion of all the Binduli construction work and upon reaching designated production capacity, approximately 7 tonnes of gold (approximately 225,000 ounces) can be produced in peak years;
- Total capital cost of the combined Binduli expansion is A$462 million, with investment in the project during the first half of 2021 of RMB 0.43B (A$90 million);
Zijin Mining previously announced on April 28, 2020 that the “first phase of the Binduli North heap leach project is expected to complete construction and commence production in March 2022”; and
Vox management has commissioned the preparation of an independent NI43-101 compliant Technical Report on Janet Ivy as a result of this material development at the Binduli North heap leach project. This Technical Report is expected to be released in September 2021.
Vox Management Summary: The Binduli North heap leach expansion is expected to re-rate Janet Ivy royalty revenues from 2022 onwards. This royalty has the potential to generate A$1.5M – A$2.5M of annual revenues from Binduli North production on average across the life of mine and assuming a target production rate from Norton Gold of 5Mtpa from Binduli North. Based on ongoing labour shortages in Western Australia, Vox management expects first production from Binduli North in late 2022.

Bowdens (Feasibility) – Underground Scoping Study and Q2 2021 Drilling Update

Vox holds a 0.85% gross revenue royalty on the Bowdens silver-lead-zinc project and a 1% gross revenue royalty over surrounding regional exploration tenure;
On August 5, 2021, Silver Mines announced the following underground scoping study:
- With ongoing outstanding drilling success, a Scoping Study for potential underground mining scenarios at Bowdens Silver has commenced;
- The Scoping Study is separate to and does not affect the current late-stage approval process for Bowden’s Silver open-pit development;
- An underground Mineral Resource preliminary assessment has also commenced and will operate concurrently with the 30,000m diamond drilling program;
- Recent drilling at the Northwest High-Grade Zone, the Aegean Zone and the Bundara Zone has demonstrated considerable high-grade potential immediately beneath the current Ore Reserve for the proposed open-pit mine development;
- The reporting of drilling results will continue until at least the end of the 2021 calendar year;
- The Mineral Resource assessment and Scoping Study will be complete post the drilling phase, likely in the March quarter 2022; and
- Drilling continues with four rigs operational on site.
On July 27, 2021, Silver Mines announced the following drilling update:
- Initial results from the 30,000m drill program at Bowdens continues to define potential resources for underground mining scenarios, with a focus on the Northwest high-grade and Aegean zones;
- BD21006 results drilled east of the Northwest high-grade zone include:
  - 2.0 metres @ 443 g/t silver equivalent (146 g/t silver, 3.80% lead, 3.43% zinc and 0.25 g/t gold) from 212 metres; and
  - 8.3 metres @ 354 g/t silver equivalent (276 g/t silver, 2.15% lead, 0.10% zinc and 0.31 g/t gold) from 263 metres;
- BD21011 results returned from the Northwest high-grade zone include 13.0 metres @ 264 g/t silver equivalent (188 g/t silver, 1.66% lead, 0.40% zinc) from 207 metres;
- Results from BD21007, show potentially significant 200 metres of extension to the southeast of the Bundarra zone include 6.0 metres @ 311 g/t silver equivalent (35 g/t silver, 3.60% zinc, 2.87% lead and 0.60 g/t gold) from 267 metres; and
- Drilling continues with the 30,000m program with four rigs operational on site and which is expected to continue until at least the end of 2021.
Vox Management Summary: This underground scoping study presents volume and royalty revenue upside to the June 2018 feasibility study results, which imply, based on management assumptions, a 16 year mine life generating annual open pit royalty revenues of A$1M – A$1.5M on average during the life of mine. We look forward to additional updates from Silver Mines regarding final open pit permitting over the coming year.

Pitombeiras (PEA Stage) – PEA Update and Drilling update⁽¹⁾

Vox holds a 1% net smelter royalty over the Pitombeiras vanadium-iron ore project;
On July 29, 2021, Jangada announced that:
- It has completed a consolidated updated National Instrument 43-101 compliant resource estimate, comprising the results obtained to date from the Pitombeiras North and South and Goela targets;
- Total Mineral Resource Estimate (“MRE“) of 8.26Mt, representing an increase of 45%, with 62% now classified as Measured and Indicated;
- The Mineral Resource classification resulted in Measured & Indicated Resources of 5.10Mt at 0.46% V₂O₅, 9.04 % TiO₂ and 46.06% of Fe₂O₃, and Inferred resource of 3.16Mt at 0.44% V₂O₅, 9.00% TiO₂ and 45.86% of Fe₂O_3;
- Vanadiferous Titanomagnetite mineralisation continues to be open and drilling to date been conducted on only 3 of 8 known targets;
- Due to the significantly larger MRE with higher category confidence levels from that previously reported and extensive other work undertaken, Jangada will now be issuing a Definitive Feasibility Study in Q3 2021, rather than an upgraded economic study; and
- Jangada is fully funded for its existing work programme and intends to proceed to mine development, with first production as early as the first half of 2022.
Vox Management Summary: The fast-tracking of the Pitombeiras project to definitive feasibility study in Q3 2021 and initial production in H1 2022 continues to exceed Vox management expectations. The 45% increase in the resource estimate and improved resource category confidence levels increases Vox’s confidence in Jangada management’s ability to bring this project into production in 2022.

Sulphur Springs (Pre-Construction) – A$10M drill program, Resource Update & Final Project Approvals

Vox holds a A$2/tonne production copper-zinc royalty (A$3.7M royalty cap) on the Sulphur Springs project and an effective A$0.80/tonne production royalty on the Kangaroo Caves deposit, which is part of the combined Sulphur Springs project;
On July 29, 2021, Venturex announced that:
- It has commenced a A$10M drilling program to de-risk and grow the Sulphur Springs copper-zinc project;
- Infill drilling is underway with the aim of upgrading the majority of Inferred Resources to the Indicated category;
- It will undertake a significant drill program to test for extensions to the known resource and mineralisation boundaries;
- A resource update is targeted to be completed by the end of June 2022; and
- In parallel with the drilling, Venturex will continue to complete the remaining project approvals, which are also expected by the second half of 2022.
Vox Management Summary: The new management team at Venturex, led by Northern Star Resources co-founder Bill Beament, is actively progressing the Sulphur Springs project, which Vox expects will lead to a final investment decision in the second half of 2022. The A$10M drilling program offers further upside to the current mineral resource.

Lynn Lake (MacLellan, Feasibility) – Q2 2021 Drilling and Permitting Update

Vox holds a 2% gross revenue royalty (post initial capital recovery) on part of the MacLellan deposit at the Lynn Lake gold project;
On July 28, 2021, Alamos announced that it continues to advance permitting at the Lynn Lake project, with approval of its Environmental Impact Statement expected mid-2022 and during the second quarter of 2021, 9,396m of drilling was completed in 44 holes at MacLellan and surrounding non-royalty linked targets.
Vox Management Summary: Alamos has again reiterated a construction decision deadline for Lynn Lake of mid-2022. Alamos is guiding its investors to first production from Lynn Lake in 2024, based on its latest July 2021 corporate presentation.

Qualified Person

Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a “Qualified Person” under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.

About Vox

Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.

Further information on Vox can be found at www.voxroyalty.com.

Cautionary Note Regarding Forward Looking Information

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating 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 statements”.

The forward-looking statements and information in this press release include, but are not limited to, summaries of operator updates provided by management and the potential impact on the Company of such operator updates, statements regarding expectations for the timing of commencement of resource production from various mining projects, expectations regarding the size, quality and exploitability of the resources at various mining projects, future operations and work programs of Vox’s mining operator partners, the receipt of future royalty payments derived from various royalty assets of Vox, anticipated future cash flows and future financial reporting by Vox and requirements for regulatory approvals.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Vox will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Vox’s expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties.

Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press 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 Vox 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 Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Technical and Third-Party Information

Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox’s royalty interests. Vox’s royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

References & Notes:

(1)	The 20 July 2021 updated Mineral Resource Estimate of the Pitombeiras Project is the responsibility of Mr. Mauricio Prado. MSc. Geo. MAIG, Qualified Person as defined by NI 43-101 guidelines, independent geological consultant contracted by Jangada Mines Plc. Mr. Prado is partner and principal consultant with BS Geo e Min Ltda., a Brazilian geology consulting company based on Goiânia, Brazil.
(2)	The anticipated revenue information presented in this press release is preliminary, based on management estimates, and may change materially.

SOURCE Vox Royalty Corp.

For further information: Riaan Esterhuizen, Executive Vice President, Australia, riaan@voxroyalty.com; Kyle Floyd, Chief Executive Officer, info@voxroyalty.com

Tags Kyle Floyd, maurice jackson, proven and probable, Vox Royalty

Base Metals Energy Junior Mining

Hot Chili Limited | Results of the SPP

Post author By admin
Post date August 31, 2021

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) advises that further to its announcement on 26 August 2021 in relation to the Share Purchase Plan (SPP), the Company provides shareholders with the results of the SPP and some further information on the scale-back methodology and expected processing date for refunds.

Almost 20% of the Company’s shareholder base applied to participate in the SPP, with in excess of AUD$10.0 million received in valid applications versus the SPP target raising of A$5.0 million.

The SPP terms and conditions provided the Company with the discretion to scale back the SPP in the manner it determined. As advised in the offer document dated 13 August the scale-back methodology will be conducted at the directors’ discretion.

A pro-rata basis has been applied, based on amounts applied for under the SPP, rounded to reflect the 156,250,000 Shares to be issued under the SPP offer. Excess funds as a result of the scale-back will be returned to applicants without interest in accordance with the SPP offer document and are expected to be processed by the Company’s registry on or around 2 September 2021.

For any queries shareholders should contact Automic at hello@automic.com.au or on 1300 288 664 (within Australia) or +61 2 9698 5414 (outside Australia).

The Board would like to thank shareholders for their continued support of the Company.

To access the announcement please click on the link below.

Download full announcement here

Cortadera Copper Project

Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company.

The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.

View the Cortadera Project

Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009

Base Metals Energy Junior Mining

Hot Chili Limited | Repayment of US $1.5M Option Fee to CMP

Post author By admin
Post date August 31, 2021

Removal of Last Requirement of CMP Option Over Productora

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) advises that it has met its final requirement in the process to remove the Compañía Minera del Pacífico S.A. (CMP) Option to purchase an additional interest in the Company’s Productora copper-gold project in Chile.

CMP is a subsidiary of Compañia de Aceros del Pacifico S.A. (CAP), Chile’s largest iron ore miner, infrastructure and integrated steel business.

In May 2015, CMP acquired a 20% interest in Productora in exchange for providing critical infrastructure access rights (water pipeline easements, electricity easements, surface rights) and CMP’s interests in several lease holdings at the project. In addition, CMP paid Hot Chili a US$1.5 million reimbursable fee for an Option to purchase an additional 32% interest in Productora for a valuation of between US$80 million to US$110 million (Additional Purchase Option), as announced to ASX 1st May 2015.

CMP was free-carried to the completion of the Company’s Productora Pre-feasibility study (PFS).

In March 2016, Hot Chili completed the Productora PFS and CMP elected at that time to contribute to expenditure in the project going forward, but not exercise its Option.

HCH has repaid CMP the US$1.5 Option fee and CMP has accepted the payment.

The Board of Hot Chili look forward to continuing its strong partnership with CMP and all key stakeholders toward developing Costa Fuego into a major, coastal, copper-gold production centre.

To access the announcement please click on the link below:
Download full announcement here

Cortadera Copper Project

Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company.

View the Cortadera Project

Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009

Base Metals Energy Exclusive Interviews Junior Mining Metallic Group Precious Metals Stillwater Critical Minerals

Group Ten Metals – Maiden 43-101 Nickel-PGE Resource Update

Post author By admin
Post date August 30, 2021

Maurice:

Joining us for a conversation is Michael Rowley, the CEO of Group Ten Metals. Glad to be speaking with you today, as you have a big announcement for shareholders regarding the Black Lake–Drayton gold project. Before we begin, Mr. Rowley, please introduce us to Group Ten Metals and the opportunity the company presents to shareholders.

Michael Rowley:

Group Ten is focused on advancing our Stillwater West project as a premier source of low-carbon ‘green metals’ in Montana’s Stillwater district, beside Sibanye-Stillwater’s mine complex. Within the next few weeks, we expect to debut our maiden resource estimates of nickel, copper, palladium, platinum, rhodium, gold and cobalt, on that project which we expect will compare favorably with our peers and position us for growth based on this years drill campaign.

Along with owning half of the iconic Stillwater district in Montana, Group Ten also has two other district-scale land positions, the Black Lake Drayton gold project in Ontario that you mentioned a minute ago, and the Kluane PGE-Ni-Cu-Co project in the Yukon. All three of these are big brownfield land positions in great districts, and they are 100% owned by Group Ten because we were acquiring them strategically during the bear market when great assets were available inexpensively. We are focused more than ever on Stillwater, and with that our non-core assets are effectively up for sale or spin-out in the first in a series in that regard.

Maurice:

Well, let’s begin today in Ontario is Group Ten Metals has just announced (Press Release) a letter of intent with Heritage Mining on the sale of the Black Lake–Drayton gold project. Congratulations, sir.

Michael Rowley:

Thank you, we are excited about the potential we see there. Heritage Mining is a new listing with an excellent team, and they are well equipped to focus on Black Lake and give it the attention it deserves while granting excellent exposure to that success.

Black Lake is a rare asset that is hard to find in this current, improving market with increasing activity in junior exploration. It checks all the boxes. It is a big land position that shares an emerging district with a 3Moz development-stage high-grade gold project, yet is underexplored. So there is lots of smoke, someone just needs to find the fire. Treasury Metals has done great work to the west of us consolidating the rest of the district, and Rainy River, farther to the west is now in production with New Gold. This whole belt was late to the game because of limited access and shallow ground cover, but developments at Rainy River in the 1990s changed that, and now there is over 14Moz in the belt, and growing.

Maurice:

All right, let’s get into the exciting stuff, sir. Please share the terms of the agreement with us and in particular, the cash and share compensation that group 10 metals will be receiving along with the carried interest in the potential for discovery payments.

Michael Rowley:

It’s a great deal for both parties. Group Ten will gain a major share position in a newly listed company that’s focused on precious metals and focused on developing tier one assets, developing resources. And we get that 10% free carried interest through to feasibility study. So we can be at the table at a later stage to negotiate the sale of that during a possible broader consolidation play in the district. We received $320,000 in cash payments in the first two years of the deal as well. And we receive bonus payments of $1 for every ounce of gold that is formerly brought on the books in any category at any time and even in multiple stages. That has a $10 million cap on that, the district already hosts more than 10 million ounces. So that figure is certainly possible given the area.

Maurice:

So that we better appreciate the terms. Would you please provide us with a quick bio on Heritage Mining and what they bring to the table?

Michael Rowley:

Heritage Mining is a very experienced team with an excellent track record of raising cash and advancing projects, especially in Ontario and Quebec. Heritage is familiar with this geology. They’re keen to hit the ground, which is very pleasing to us because the point of this deal is that we want someone else to raise the $5 million and advance this asset the way we think it can be advanced. So they certainly appear to be capable of that. They have an excellent record of proving ounces, developing mines, operating companies, and marketing, raising capital.

Maurice:

Where will this transaction put Group Ten Metals in terms of ownership, percentage on the share structure for Heritage Mining?

Michael Rowley:

Well, we’ll have to see what their first placement looks like once they’re trading and that’s a couple of months out from now. But we expect to be about 10% of the company initially, and then maintain between the 5% and 10% level from there. A key point on that note also is that we have that bonus structure having a carried interest. Therefore, we are not relying solely on our share position for value. We’ve got several avenues here to be exposed to that success that we expect them to have.

Maurice:

And when does Group Ten Metals expect the transaction will close?

Michael Rowley:

We look good to close around the 60-day mark around mid-October.

Maurice:

Leaving Ontario and onto the Yukon where Group Ten Metals has another non-core asset within his property bank that is equally has been receiving a lot of interest from prospective buyers. And I’m speaking of the Kluane PGE, nickel, copper project in the Yukon. Sir, any updates for us?

Michael Rowley:

The Kluane is another explored project. We have over 250 square kilometers in the under-explored Kluane Belt, which is a fantastic belt of deposits. Another ultramafic system like Stillwater reaching from BC through into Alaska. The most advanced one. There is Nickel Creek Platinum, formerly Wellgreen. And the news there is that they’ve been increasingly active in the past year. And that’s good to see. They’ve been drilling, they’ve been doing geophysics and they’ve been doing it up on the northwest end of the system towards us, which is music to our ears. We’ll be seeing them at Beaver Creek and we’re looking forward to further activity from them. You’re correct that we’re getting more interested in those projects and that they like Black Lake are effectively for sale. We just have low carrying costs. Then we’re taking our time looking for the right deals.

Maurice:

Leaving the Yukon less visit Montana, which hosts your flagship Stillwater West project. But before we get into the latest news on the Stillwater West, would you please remind us about the unique value proposition before us on your flagship project?

Michael Rowley:

The Stillwater West is fantastic. In 2017, the opportunity was presented to us to own half of the iconic Stillwater District, which sounds too good to be true in a way. But thanks to several factors that came together at the right time. Most of all, a local vendor who had spotted a bankruptcy that left these claims available, and he was quick, he bought the data from the past operators and he tied up the claims. We’ve since tripled land position. We now own half the district we’ve built a terrific database, predictive geologic model. The point is that we are well on our way to proving ourselves as a primary source of green metals, battery-grade nickel, copper, cobalt, with platinum group elements, palladium, platinum, rhodium, and also gold.

In a US district beside three mines and a smelter complex. These are big disseminated, sulfide deposits. They convert easily and cleanly to nickel sulfate. And we are weeks away from our first resources on the project, which is a very exciting moment for any junior exploration company. This will be a solid debut, it’ll position us nicely among our peers. And we see terrific room to grow from there. If you’ve seen our news release back in April, where we related the 3D models from our IP survey, the emerging images of our Resource models, and the potential we have for expansion.

Maurice:

The Stillwater West is currently undergoing its largest exploration program to date, which is a 10,000-meter drill program there recently added a second drill rig, sir, take us on-site and get us up to speed on the program.

Michael Rowley:

We have 2 rigs turning, which is music to our ears. We’re hitting sulfide very nicely in both, massive sulfide in places, net texture, and disseminated in others. The predictive model that we’ve been working up the past few years is working beautifully. And that’s a key point. We’re now hitting with a high degree of predictability, which is what geologists want to see. The district is well mineralized. Our neighbor has 87 million ounces in current resources, reserves, and 14 million ounces in past production of the highest-grade palladium-platinum in the world.

That’s a single magmatic pulse laid down across 40 kilometers. These things are staggering in scale, and it’s also a nickel-copper-sulfide deposit that is worth noting. We are just below them in that stratigraphy. And we’re seeing similar continuity of these horizons. We are hitting new ones all the time, they seem to run for great lengths and it’s easy to add ounces and pounds. The program that you mentioned that’s underway now should do very nicely for expanding the inaugural resources as fast as we can in 2022. So we’ll debut numbers here in summer 2021, and then look to expand them as fast as possible in 2022.

Maurice:

All right, you have two truth machines drilling away. Do you already have some core in the lab and any timeframe on when we may receive some assays?

Michael Rowley:

The first one and a half holes are in the labs, include some nice-looking core. The labs are saying six weeks though, give me into October to get those into a news release.

Maurice:

Now we will hold you to that, but we will hold the labs to that. All right, switching gears, let’s look at some numbers. Sir, please provide the capital structure for Group Ten Metals.

Michael Rowley:

Group Ten Metals has 163 million shares outstanding at today’s price. That puts us around a $50 million market cap. We feel that significantly below where we could be based on our peers. I think a good peer might be Canada Nickel, for example. Noting of course they don’t have the platinum group element component that we have. However, they are four or five times our market cap with a similar, large, lower-grade nickel project. And we think that makes it a compelling comparison. We have$ 6 million cash in the bank and we have $13 million in the money options and warrants. Those are priced between .21 and .30 cents. No placements are planned for the foreseeable future and a fully funded, fully permitted for this year’s program. And even into next year at this point.

Maurice:

Speaking of those warrants. Expect for me to go ahead and exercise mine. Speaking of the shares, Group Ten Metals recently upgraded its DTC eligibility. What does that mean for shareholders? I

Michael Rowley:

I had to look into it myself to be reminded. DTC is an electronic clearing service. This simplifies the process of trading and enhances liquidity For American traders, which we have a really good US shareholder base. So this is, meaningful in terms of fast and efficient settling of those trades.

Maurice:

Before we close Mr. Rowley, what would you like to say to shareholders?

Michael Rowley:

This is an exciting time for Group Ten Metals! If you’re familiar with the Lassonde Curve value creation in junior miners were at that just pre-discovery phase where you get that rapid increase in value. And it’s quite a privilege to be here. It’s exciting to be systematically exploring the Stillwater Complex, which is famously metal-rich, and yet also under-explored and it’s remarkable, but the 215 drill holes to date across 32 kilometers of claims, 61 square kilometers. That’s not a lot. And we’re testing things all the time that have never been drilled and we’re finding nice-looking sulfides there. So to be the ones systematically adding value and looking like, in terms of the market, that we’re on the left end of the Lassonde Curve, but knowing that we’re much farther along in terms of having comfort about some size and grade here. Pretty exciting.

Maurice:

Last question. What did I forget to ask?

Michael Rowley:

Well, it’s probably a good point to touch on the broader commodity markets and you know metal markets are going sideways at the moment but there are the fundamentals are in place perhaps more than ever for a really good steady increase. We’re looking for all the metals in our suite of commodity baskets to resume their upward momentum likely this fall. We’ve got the FED meeting behind us today. Things look positive the fundamentals are there and we’re looking forward to increased value for all our commodities, especially, in nickel. We’re hearing increasingly of the coming shortfall in nickel sulfide, in particular clean nickel that’s good for batteries or rather makes nickel sulfate in the most environmentally friendly manner. We’re excited to be part of that and we’re looking forward to that renewed momentum. This is a good buying opportunity to buy shares in Group Ten Metals.

Maurice

Sir, for readers that want to get more information on Group Ten Metals, please share the website address.

Michael Rowley:

www.grouptenmetals.com

Maurice:

Mr. Rowley, it’s been a pleasure speaking with you today, wishing you and Group Ten Metals the absolute best sir.

Tags Greg Johnson, Group Ten Metals, maurice jackson, Metallic Group of Companies, Michael Rowley, PGE, proven and probable, Stillwater West, Tim Johnson

Base Metals Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Executes Option Agreement to Sell Five Battery Metals Assets in Sweden

Post author By admin
Post date August 30, 2021

Vancouver, British Columbia–(Newsfile Corp. – August 30, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement (the “Agreement“) to sell five battery metals projects in Sweden (the “Projects“) to Swedish Nickel Pty. Ltd. (“Swedish Nickel“), a wholly owned subsidiary of Bayrock Resources Limited (“Bayrock“). Bayrock is an Australian unlisted public company and has a pre-existing nickel mining asset in Sweden. In return for the Projects, the Agreement provides EMX with up to a 6% equity interest in Bayrock, annual advance royalty payments, 3% Net Smelter Return (“NSR“) royalty interests, work commitments and other considerations.

The nickel-copper Projects are located in northeastern Sweden in the Fennoscandian Shield (see Figure 1), which is host to numerous nickel deposits in Sweden, Finland and western Russia. The Projects each contain drill-defined zones of nickel-copper sulfide mineralization developed in and around mafic to ultramafic intrusions (magmatic sulfide-style mineralization). These zones of mineralization are also variably enriched in cobalt and platinum-group-elements (PGE), key metals used in current battery technologies. Most of the Projects’ occurrences and deposits were discovered in the 1970’s and 1980’s, with only limited and incomplete histories of follow-up exploration. See www.EMXroyalty.com for further information.

The Agreement with Swedish Nickel/Bayrock represents another example of EMX’s execution of the royalty generation aspect of its business model. EMX began exploration programs for nickel-copper-cobalt-PGE deposits in the Nordic countries in 2016, at a time of lower battery metal prices and when there was little commercial interest in these types of projects. Improvements in the battery metals markets in recent years have led to a resurgence in interest in battery metals projects, especially in stable political jurisdictions such as the Nordic countries.

Commercial Terms Overview. In accordance with the Agreement, Swedish Nickel can acquire 100% interests in any or all of the Projects through the issuance of cash or shares to EMX and performance of work on individual projects during a 36 month (3 year) option period, subject to the following terms (all dollar amounts in AUD):

Upon execution of the Agreement, EMX will receive $62,184 in cash.
Bayrock will raise a minimum of $6 million by the first anniversary of the Agreement and issue EMX between 5 and 6% of Bayrock shares on a fully diluted basis, subject to certain conditions. Alternatively, Swedish Nickel can make a one-time cash payment of $600,000 in lieu of the obligation for issuance of Bayrock shares to EMX.
Swedish Nickel will expend a minimum of $250,000 per project in the first 18 months of the Agreement, and another $250,000 per project in the second 18 months of the Agreement; for a total of $500,000 per project by the 3^rd anniversary of the Agreement.

After satisfying the work commitments and exercising the option on any or all of the Projects, Swedish Nickel will grant EMX royalty interests with annual advance royalty (“AAR“) payments and other considerations on each of the Projects for which an option is exercised:

EMX will receive a 3% NSR royalty interest in each optioned project. On or before the earlier of the sixth anniversary of the Agreement or delivery of a Feasibility Study, Swedish Nickel has the option to repurchase 1% of the EMX NSR royalty on any Project by paying EMX $1,500,000.
EMX will receive AAR payments of $25,000 on each optioned project commencing on the third anniversary of the Agreement, with the AAR payment increasing by 10% each year.
Payments of $600,000 payable in cash or shares, will be made to EMX upon the delivery of a Feasibility Study on any of the Projects.
Closing is subject to approval by the ASX Stock Exchange.

Overview of the Projects. The Projects are situated within a belt of mafic-ultramafic intrusive complexes that straddle the Sweden-Finland border. This belt of intrusions is host to multiple nickel-sulfide deposits such as the Kevitsa and Sakatti deposits in Finland. Each of the EMX Projects included in the Agreement contain historical drill defined zones of nickel copper mineralization that also show variable enrichments in cobalt and PGE.

Kukasjarvi Project. Kukasjarvi has a geologic setting typical of many magmatic sulfide deposits, where sill-like mafic to ultramafic rocks have intruded graphitic and sulfide bearing sedimentary rocks. Magmatic sulfides at Kukasjarvi were discovered by Boliden AB in the 1970’s while tracing mineralized boulders found in the area. Twelve historical diamond holes were drilled for a total of 2,400 meters, and a historical mineral resource for Kukasjarvi was defined^[1]. The deposit is believed to be hosted within a metamorphosed ultramafic cumulate rock related to larger volumes of mafic gabbros mapped in the area. The deposit remains poorly delineated (i.e. incompletely drilled), and high Cu:Ni ratios suggest that the currently defined mineralization is distal in the system(s).

Notträsk Project. Notträsk is a layered mafic intrusion of gabbro-norite-peridotite with nickel copper mineralization that was discovered in the 1970’s when road construction exposed an 80 meter thick section of sulfide rich breccias and massive sulfide accumulations. The sulfide mineralization occurs near the base of the intrusive complex, but subsequent exploration programs focussed on mineralization at higher levels within the intrusive complex. Only a few of the historical holes penetrated the basal contact, which represents the primary exploration target and remains largely untested. EMX also sees considerable exploration upside in the apophyses and offshoots of the main intrusive complex which could contain “conduit” type sulfide targets.

Vuostok Project. The Vuostok project is the westernmost of the Projects, located in the Skelleftea mining region of Sweden. Nickel-copper mineralization at Vuostok was discovered in the 1940’s after prospectors followed a trail of mineralized boulders that were carried by glaciers up to 55 kilometers to the southeast^[2]. Mineralization at Vuostok mainly occurs along the basal contact of a gabbro sill intruded into granitic country rocks. After discovery, several campaigns of drilling delineated shallow bodies of nickel-copper sulfide mineralization. Many step-out drill holes also intersected masses of nickel-rich sulfide mineralization which appears to be widespread in the gabbroic intrusive complexes. Multiple conductive geophysical anomalies remain untested.

Fiskelträsk Project. Similar to Kukasjarvi, Fiskelträsk is a gabrroic to gabbronorite intrusion emplaced into sulfide-bearing sedimentary rocks. The Fiskelträsk deposit was discovered by Boliden AB during the 1970’s, which drilled eleven holes for a total of 1,600 meters. The drill data were utilized by Wiking Minerals AB to estimate a historical resource in 2014 that has been cited in multiple publications on nickel-copper deposits in the region. The mineralization at Fiskelträsk is enriched in cobalt, and although not analyzed during the 1970’s exploration programs, subsequent studies showed anomalous PGE values which need follow-up work.

Skogträsk Project. Nickel-copper mineralization at Skogträsk was identified and drilled by the Swedish Geological Survey (“SGU“) in 1969-1973. Eleven shallow diamond drill holes by the SGU intersected disseminated and “net-textured” styles of sulfide mineralization at the basal contact of a gabbro-norite-pyroxenite-peridotite intrusion. As was the case at Kukasjarvi and Fiskelträsk, the mafic-ultramafic intrusions at Skogträsk were emplaced into graphitic and sulfide-rich sediments. In 2014 Boss Resources Ltd. conducted electromagnetic geophysical surveys at Skogträsk and drilled two holes totalling 491 meters. One of the holes intersected a significant thickness (~20 meters) of nickel-copper-bearing sulfide mineralization at the basal contact of the intrusive complex, and electromagnetic geophysical data show that the mineralization may extend for several hundred meters along strike. There was no follow-up to the 2014 drill program and multiple geophysical anomalies remain untested on the property.

Comments on References to Historical Drill Results and Resource Estimates, and Nearby Mines and Deposits. EMX has not performed sufficient work to verify the Projects’ historical drill results or the published historical resource estimates. The Company is not treating the historical estimates as current mineral resources but considers them as reliable and relevant based upon independent field reviews, including inspections of historical drill core. Additional work to verify or upgrade the historical estimates as current mineral resources would include a) check assaying of historical assay results, b) confirmation drilling, and c) review/updating of the geologic interpretations under the supervision of a Qualified Person. However, there is no guarantee that the historical resource estimates will be updated as current mineral resources with further work.

The nearby mines and deposits discussed in this news release provide context for EMX’s Projects, which occur in similar geologic settings, but this is not necessarily indicative that the Projects host similar tonnages or grades of mineralization.

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

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”; and on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

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

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

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

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended June 30, 2021 (the “MD&A”), and the most recently filed Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location map for the Projects and Prospective Mineral Belts.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/94715_0e07756a04bf084c_002full.jpg

^[1] Papunen, Heikki, and Gorbunov, eds., 1985, Nickel-Copper Deposits of the Baltic Shield and Scandinavian Caledonides, Geological Survey of Finland, Bulletin 333.

^[2] Grip, E., 1955, Tracing of glacial boulders as an aid to ore prospecting in Sweden, Economic Geology, v. 48, p. 715-725. info

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380 – 1100 Melville Street
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V6E 4A6
Phone: 604-609-0244

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Calgary, AB, Canada
T2P 2V6
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Tags #MauriceJackson, #ProvenAndProbable, David Cole, EMX, EMX Royalty

Base Metals Energy Exclusive Interviews Granite Creek Copper Junior Mining

Granite Creek Copper – Resource Expansion on the High-Grade Copper Carmacks Project

Post author By admin
Post date August 27, 2021

Maurice:

Joining us for conversation is Tim Johnson, the CEO of Granite Creek Copper (TSX.V: GCX | OTCQB: GCXXF).

Tim Johnson:

Thank you, Maurice. It’s always a pleasure to be here.

Maurice:

What an exciting time to be speaking with you as Granite Creek Copper has just released some very exciting results to the market, which look to further extend the resource at the high-grade Carmacks copper-gold project. Before we begin, Mr. Johnson, please introduce us to Granite Creek Copper and the opportunity the company presents to shareholders.

Tim Johnson:

Granite Creek Copper is an exploration stage copper-focused company. We’re focusing on our Carmacks project in the center of Yukon, Canada, which is a great jurisdiction for development and we have excellent access to power and a highway. And just released some very exciting news of which we are very pleased and I appreciate this opportunity to discuss them and put them into context for readers.

Maurice:

Granite Creek Copper began its inaugural drill campaign back in November, which was quite successful, yielding 127 meters of 0.85% copper equivalent at Carmacks’s zone 13, and 4.6 meters of 7.5% copper equivalent at Carmacks north zone A, which was followed up in May with phase one of three drill programs slated for 2021.

In July, Granite Creek released the first string of asset results from phase one and the results were quite impressive. Just the other day, the company released a single hole, hole 11, which has some spectacular results. It would seem that there will be much more bluesky on the horizon on the Carmacks deposit. Mr. Johnson, I have table one from the press release before us. Please walk us through the asset results and in particular, hole 11.

Tim Johnson:

Hole 11 was a bit of an eye-opener for us. It was targeted in zone 2000 south. When we went into the campaign, we knew that there was some significant potential to grow the resources in 2000 South, and I must say Hole 11 delivered, along with a few other holes drilled in the 2000 south zone all intercepted mineralization well below the current resource model, so giving us the potential to significantly expand that resource. We’re pretty pleased. We think not only can we expand the resource, but if you notice that, looking at the resource table in the news release, that just about all the intercepts are of a higher grade than what’s in the table. That gives us the potential to not only grow the resource and as far as tonnage, but also potentially deliver a higher-grade resource on an updated resource estimate that we’re working on right now.

Tim Johnson:

Hole 11 intercepted 105 meters at 1.18% copper on an equivalent basis and above 0.97% copper on its own. Within that, there were 22 meters of over 2% copper. Those grades are pretty spectacular, and we think, again, that’s going to make a significant upgrade to the resource once we can complete a few more holes and model that. We don’t think this is a one-off hole. We think from the geophysics and what we’re seeing that we will be able to expand the resource in a much higher grade. Of course, we’ve got some more drilling to do to be able to deliver that, but we’re pretty bullish about that. We’ve refocused our phase three program, which we expect to start in a week or two, to target that area of 2000 south, and also to see if we can connect the 2000 south up to some of the other zones at Carmacks to make a more continuous ore body.

Maurice:

Now sticking with zone 2000 south, I have table two before us. What do these results seem to indicate?

Tim Johnson:

Table two is a resource calculation done by previous operators. This was published in 2017. You can see it’s quite a small resource, about 600,000 tons in the sulfide domain, which readers should know that the sulfide domain is what we’re targeting. The oxide, there is limited oxide in 2000 south. I think this is one of the reasons why this target is still here, because previous operators, again, we’re more focused on a small oxide operation. So they weren’t targeting the sulfide, but we see the real potential here to be the sulfide. This hole seems to verify that. Again, the grade on this hole is above what the grade of the resource, the current resource is. So good delivery on a couple of fronts, both potential tonnage increase, and potential grade increase.

Maurice:

And I do wish to highlight the geological acumen of Granite Creek Copper, as the Carmacks has had over 50,000 meters of exploration in the past and they were not able to locate the success you have in hole 11. What does that say about GCX and the success of the company moving forward?

Tim Johnson:

There’s a couple of reasons for that. The previous operators and there was nothing wrong with this, felt they had an economic resource in the oxide. The oxide is fairly near surface. Therefore, there was a lot of drilling done to prove up that resource, but there was very little drilling done to expand the resource into the sulfide material or to look for adjacent potential like we have at Carmacks North. Previous operators had quite a small land package for various reasons. They had to let some go in some of the tougher times in the industry, and we benefited from that, by having that land package available for us when we acquired it and then subsequently acquired coper north, of course, to consolidate the district.

Tim Johnson:

So yeah, you’re right. I mean 50,000 meters have been drilled, but a lot of it, as I said, was very near-surface, oxide focused, and left us the opportunity to come in and recognize the potential for significant expansion beneath the oxide into the sulfide, and really not that deep. The transition zone from oxide to sulfide occurs about 200 meters plus or minus below surface, so still well within an economic mining range, and really, a lot of bluesky left and a lot of discovery potential on the combined land package.

Maurice:

In previous interviews, we’ve discussed resource expansion. How does today’s press release increase the impact on the pending 43-101 mineral resource estimate?

Tim Johnson:

It significantly impacts mineral resource estimate. When consider where Hole 11 fits in relation to the current resource, and the entirety of the 105 meters of significant mineralization is below the current resource. So giving us up to 100, maybe 120 meters of down-dip extension on that resource. Now, we do need to infill around it. You can’t build a resource on a single hole, but some of the other holes that we’ve had that we released in July also support that down-dip extension of the resource. So we see significant growth potential here in this zone.

Tim Johnson:

We did drill again this year on Zone 13. We’re still waiting for those assays, but we see potential to grow in 13 as well. We also see potential to grow in the sulfide portion of Zone 1, which some of those assays were also released in our first release in July. So basically, three zones that we have resource growth potential, and we’re working on modeling those right now. We’re working with a third party to bring that resource into view, and we hope to be able to deliver that to the market in a fairly timely manner.

Maurice:

I referenced that Granite Creek will embark on three drill programs this year. When can shareholders expect the remaining results from phase one?

Tim Johnson:

That’s a really tough question to answer. As we move into the fall, the labs get busier and busier. So it’s really hard for me to nail down, but we would expect hopefully by late September to early October, we’d have final results on phase one. The phase two program we’re currently going on is an RC or a reverse circulation program. It’s targeting some of the earlier stage targets both at Carmacks north, which is a northern extension of our land package, and some of the earlier stage targets around the Carmacks deposit itself. Then the phase three program, which is now being re-imagined in and around 2000 south, will be starting in the coming weeks. Then that should give us fairly good assay flow and be able to continue to deliver results to the market as we move through the fall and into the winter months.

Maurice:

By the way, is phase three, is that an RC or is that diamond core, sir?

Tim Johnson:

Phase three is a diamond program. What we did this year, we budgeted for 10,000 meters. We completed 6,300 meters in the initial program, and we kept back some meterage to get the results in and to understand the geology of the orientation of the deposits. Now that those results are coming in as I said, we’re refocusing our efforts to build out where we have the best results and try to get … increase the tonnage and increase the grade in the zones that we think are going to make the most difference to the resource.

Maurice:

When we last spoke, Granite Creek Copper announced that it had entered into a contract with Sedgman and Mining Plus. What are the latest developments there?

Tim Johnson:

We working forward with Sedgman and Mining Plus. One of the big reasons we brought them in is two-fold. One of the reasons we brought them in was to optimize the process for both the oxide and sulfide processing that was initially developed in the 2017 PEA, and then also to develop a mine plan that would bring the sulfide in as well. The previous PEA only spoke to the oxide resource. It contemplated about a 7 mine life. We saw at least double that in the sulfide resource, but there was no mine plan for it. Sedgman and Mining Plus are working very hard to bring that into view. What’s going to happen, we’ll take that information and that will inform our next economic study to be done on the project. We will look at updating the preliminary economic assessment once we have all the results in both from the work that Sedgman and Mining Plus are doing, and of course, with an updated resource that is being currently worked on to bring both the tonnage and the mine plan and the processing plan all into one economic study.

Maurice:

Leaving the Carmacks project, sir, please provide us with an update on the capital structure for Granite Creek Copper.

Tim Johnson:

Granite Creek Copper has 127 million shares issued and outstanding. We’ve have warrants that are right at the strike price of the warrants, about $4.8 million in cash value of those warrants with the strike price at 20 cents. We see strength in the market moving into the fall, and we expect those warrants to assist the company in continuing on with our economic studies and upcoming programs. Meaning that we won’t be looking to conduct a dilutive financing in the near term. We expect strength in the copper market hopefully will allow us to delay any large financing for a while.

Maurice:

Before we close, Mr. Johnson, what would you like to say to shareholders?

Tim Johnson:

I think the copper space is an excellent space for speculative shareholders to be to be looking we think that the copper market is going to have strength moving through the remainder of this year and into next year. We’ve got an excellent project with excellent exposure to copper and to precious metals as well in a very good jurisdiction. I think it’s worth adding granite creek copper to your watch list and making sure you follow along with our story.

Maurice: Last question sir what did i forget to ask?

Tim Johnson:

Well as usual Maurice, you did an excellent job. I think the questions you asked are very good and I appreciate your time.

Maurice:

Thank you sir. Mr Johnson for someone that wants to get more information on granite creek copper please share the contact details.

Tim Johnson:

Please visit us at www.gcxcopper.com.

Maurice:

Mr. Johnson is always a pleasure to speak with you wishing you and Granite Creek Copper the absolute best sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com. Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

Tags Carmacks, Carmacks Deposit, Granite Creek Copper, Greg Johnson, maurice jackson, Metallic Group of Companies, proven and probable, Tim Johnson

Base Metals Breaking Energy Junior Mining Uncategorized

Successful $5 Million SPP to Close Early

Post author By admin
Post date August 26, 2021

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) advises due to overwhelming support of the Company’s Share Purchase Plan (SPP) it has decided to close the SPP at 5.00pm today Thursday, 26 August 2021. The Company will apply the scale-back conditions accordingly as per the terms set out in the SPP prospectus dated 13 August 2021.

Applications for over $5 million have been received from eligible shareholders under the SPP.

Mr Christian Easterday, Managing Director of Hot Chili, said

“The Board of Hot Chili would like to thank all shareholders for participating in the SPP, which was oversubscribed in five days.

We look forward to delivering on our copper-gold resource growth pipeline in Chile to build long term shareholder value as we transition Hot Chili into a premier global copper developer”.

To access the announcement please click on the link below.

Download full announcement here

Cortadera Copper Project

Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company.

View the Cortadera Project

Hot Chili Limited
Head Office (Perth)
First Floor, 768 Canning Highway,
Applecross, Western Australia 6153

P: 08 9315 9009

Tags #CortaderaProject, Christian Easterday, HCH, Hot Chili Limited, investing in battery metals, investingincopper, maurice jackson

Base Metals Breaking Energy Granite Creek Copper

Granite Creek Copper Intercepts 105 Meters of 1.18% Copper Equivalent Including 21.22 Meters of 2.55% CuEq at the Carmacks Copper-Gold-Silver Project in Yukon, Canada

Post author By admin
Post date August 24, 2021

VANCOUVER, BC / ACCESSWIRE / August 24, 2021 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce results from diamond drill hole CRM21-011 which intersected copper sulfide mineralization grading 1.18% CuEq (0.96% Cu, 0.01% Mo, 0.18 g/t Au, and 4.06 g/t Ag) over a 105.52-meter interval. The long interval included a high-grade intercept of 2.55% CuEq (2.17% Cu, 0.01% Mo, 0.36 g/t Au and 9.13 g/t Ag) over 21.22 meters (See table 1 below). Also, within the 105m interval, grades reached an impressive 19.72 CuEq (18.97% Cu, 0.46 g/t Au and 38.3 g/t Ag) in 0.5 meters of semi-massive chalcopyrite (see Photo 1 below).

Drill hole CRM21-011, along with four other drillholes from the 2021 Phase 1 program (see release dated July 22, 2021) have extended known mineralization in Zone 2000S from 30m to 100m below the current block model. The Company believes these results will add significant additional tonnage to an updated NI 43-101 mineral resource estimate currently being developed. The entire mineralized section encountered in CRM21-011 is outside the current block model, providing a greater than 100-meter potential expansion below the current resource area (see Figures 1 and 2 below).

Table 1 – Highlights from Diamond Drill hole CRM 21-011 and previous results from Zone 2000S

Drillhole	From(m)	To(m)	Length*(m)	Cu(%)	Mo(%)	Au(g/t)	Ag(g/t)	CuEq^ (%)**
Results from this release
CRM21-011	223.98	329.50	105.52	0.96	0.01	0.18	4.06	1.18
Including	223.98	245.20	21.22	2.17	0.01	0.36	9.13	2.55
and including	260.32	260.82	0.5	18.97	0.01	0.46	38.3	19.72
Previously released results
CRM21-003	146.35†	214.50	68.15	0.59	0.03	0.14	3.69	0.83
Including	161.40	179.80	18.04	0.81	0.03	0.21	4.80	1.13
CRM21-005	137.05	179.80	43.24	0.74	0.05	0.16	3.82	1.06
Including	142.05	158.40	16.35	1.20	0.03	0.26	6.11	1.58
CRM21-006	194.40	278.20	83.80	0.64	0.01	0.13	3.23	0.81
Including	229.20	278.20	49	0.87	0.02	0.17	3.88	1.10
Including	248.76	266.20	17.44	1.21	0.03	0.22	5.11	1.53
CRM21-008	195.80	228.40	32.6	0.80	0.02	0.17	3.88	1.02
Including	201.55	215.55	14	1.10	0.02	0.24	4.86	1.40
CRM21-009	190.50	243.85	53.35	0.59	0.01	0.14	2.71	0.75
Including	191.30	201.70	10.4	0.87	BDL	0.25	3.70	1.09
and including	209.00	225.95	16.95	0.62	0.01	0.13	2.76	0.77
and Including	229.90	235.25	5.35	1.21	0.06	0.28	4.88	1.68

^**Copper equivalent (Cu Eq) values assume Cu $3.35/lb, Au $1600/oz, Ag $24/oz, Mo $12/lb and 100% recovery. *Weighted average intercepts shown. Estimated true widths vary but, based on geological interpretation of cross-section, are estimated to be 50-70% of the intersected width. † Zone has poor recovery

President & CEO, Tim Johnson, commented, “The extent of high-grade mineralization in this drill hole, coupled with the clear potential for further expansion of the zone, indicates that, despite over 50,000 meters of historical drilling completed to date, tremendous exploration potential remains on the Carmacks project. All core samples from the remaining nine holes of the Phase 1 diamond drill program are currently at the lab for assay. The Company looks forward to releasing these results over the coming weeks as well as those from the Phase 2 reverse circulation program currently underway, and also the upcoming Phase 3 diamond drill program, as they become available.”

Zone 2000S

Zone 2000S, originally discovered in 2006 following an IP geophysical survey, has the potential to add resource tonnage in the sulfide domain. Located approximately 300 meters south of zones 1,4 & 7 the zone is cut off by a fault on the southern end. The north end of the 2000S zone may be the fault offset continuation of zone 4 or zone 7 and this theory will be drill tested in phase 3 of the company’s drill campaign. The mineral resource on this zone (shown in table 2)is based on a 0.25% sulphide copper grade cut-off for the sulphide resource and 0.15% acid soluble Cu cut-off in the oxide resource. Using the same copper equivalent calculation that the company used to report CuEq in this news release the sulfide resources in Zone 2000S would be 0.85% CuEq in the measured and indicated category and 0.89% in the inferred. With a significant portion of the 2021 drill intercepts grading higher than the current resource an updated resource estimate not only has the potential to add tonnage in this zone but also in increase in grade. ¹Six diamond drillholes were completed on this zone in the first phase of drilling with the intent of evaluating the continuation of bornite-chalcopyrite mineralization down dip. Results from five of the six holes have been released (July 22, 2021 news release) with all five holes intercepting mineralization below the current resource model.

Table 2 – Zone 2000S current mineral resources¹

Category	Tonnes	Cu (%)	Acid soluble Cu (%)	Sulphide Cu (%)	Au (g/t)	Ag (g/t)
Measure & IndicatedOxide	899,000	0.55	0.40	0.15	0.18	2.67
Inferred Oxide	23,000	0.56	0.37	0.18	0.17	2.80
Measure & IndicatedSulfide	740,000	0.70	0.07	0.63	0.17	3.28
Inferred Sulfide	636,000	0.73	0.05	0.68	0.18	3.50

¹Mineral resource prepared by Dr. Gilles Arseneau, P.Geo., reported in JDS Energy and Mining Inc 2017 Ni 43-101 [1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada., with updated resource for Zones 2000S, 12 and 13 as reported in April 9, 2018 by Copper North Mining.

Photo 1: CRM 21-011 260.32m to 260.82m over 18.97% Cu

Figure 1: Cross Section of CRM21-011

Figure 2: Long section of Zone 2000S

Photo 2: CRM 21-011 231.35 to 233.35

Upcoming Events

Granite Creek Copper will be participating in the 2021 Yukon Exploration Investment Summit on Tuesday, August 31, at 10am PT, a live panel session with Q&A, hosted by Invest Yukon and moderated by Trevor Hall. Click here to register.

COVID-19 Protocols

Granite Creek has worked closely with the Yukon government to develop a COVID-19 safety plan that enables the Company to implement an effective work plan while maintaining the highest degree of safety of our workers and surrounding communities. The Company strictly adheres to mandates put in place by health authorities at the Federal and Territorial government level and hold the health and safety of our workers, and the citizens of the communities in which work in the highest regard.

[1] JDS Energy and Mining. Feb 9, 2017. NI 43-101 Preliminary Economic Assessment Technical Report on the Carmacks Project, Yukon, Canada. Contained metal based on 23.76 million tonnes of NI 43-101 compliant resources in the Measured and Indicated categories grading 0.85% Cu, 0.31 g/t Au, 3.14 g/t Ag.

[2] Arseneau Consulting Services, 2016 Independent Technical Report on the Carmacks Copper Project, Yukon, Canada.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Explorations Ltd, to the north and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

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

Qualified Person

Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release.

Quality Control and Quality Assurance

Quality assurance and quality control procedures include the systematic insertion of duplicate, blank and standard samples, making up 12% of the sample stream. Drill core samples were sawn in half, labelled, placed in sealed bags and shipped directly to the Bureau Veritas preparation laboratory in Whitehorse. All geochemical analyses were performed by Bureau Veritas in Vancouver. Copper and silver analysis was performed by four-acid digestion with an ICP-ES finish. Non-sulphide copper was determined through a sulphuric acid leach with an AAS finish. Gold was analyzed by igniting a 15 g sample followed by an aqua regia digestion with an ICP-MS finish.

Forward-Looking Statements

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

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

SOURCE: Granite Creek Copper Ltd.

Tags Carmacks, Granite Creek Copper, Investing in Base Metals, investing in battery metals, investingincopper, maurice jackson, Metallic Group of Companies, Tim Johnson

Base Metals Energy Junior Mining

Playfair Mobilizes for Drilling at RKV Copper Project, Norway

Post author By admin
Post date August 23, 2021

Vancouver, British Columbia–(Newsfile Corp. – August 23, 2021) – Playfair’s (TSXV: PLY) (FSE: P1J1) (OTC Pink: PLYFF) core drilling program on its large (201 square kilometers) 100% owned RKV Copper Project in South Central Norway is expected to start in early September. Playfair has delineated seven drill targets in five areas, Drill Notifications have been made and necessary permits are approved.

Figure 1

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7302/94037_35fb048aa4722bdf_002full.jpg

Playfair, as a responsible mineral explorer, values protecting the natural environment it works in. Playfair uses new technologies and methods to reduce the impact of its exploration. Playfair’s exploration to date has been in three phases.

The first phase of Playfair’s exploration used non-invasive machine learning algorithms to reinterpret existing geochemical-geological-geophysical data sets and outline potential exploration target areas with similarities to known mineral occurrences.

The second phase of Playfair’s exploration was minimally invasive. In the areas outlined as possibly favourable by the machine learning algorithms small pits were dug by hand, samples of soil were removed, and the pits refilled. There was no off-road driving. Subsequent chemical analysis outlined areas with a high content of copper or other elements of interest.

The third phase of Playfair’s exploration measured the intensity of the earth’s magnetic field in some of the areas where a high copper content was found in soils. Variations in the magnetic field provide important information about the underlying bedrock. The survey was non-intrusive and used an unmanned drone to carry the measuring equipment.

The seven drill targets were previously described: Storboren (November 07, 2019, and December 05, 2019, News Releases), Sæterfjellet, (January 06, 2021, News Release), Kletten North and Kletten South (January 28, 2021, News Release), Røstvangen Northeast and Røstvangen Southwest (February 17, 2021, News Release) and Rødalen (March 11, 2021, News Release).

The drill targets are MMI (Mobile Metal Ion) copper anomalies discovered by sampling target areas generated by Windfall Geotek (TSXV: WIN) (OTCQB: WINKF) using their proprietary Computer Aided Resources Detection System (CARDS).

All seven drill targets show compelling coherent MMI Cu anomalies with multiple MMI Cu values greater than 6,000 ppb. The highest value recorded was 53,300 ppb MMI Cu. A short MMI Report by SGS states that values greater than 6,000 ppb MMI Cu “are likely to be associated with weathering copper sulphides.”

Playfair’s fourth phase of exploration is planned to begin in September 2021. In keeping with Playfair’s intent to minimise the impact of its exploration on the natural environment Playfair will use a lightweight drilling machine which can be disassembled and hand-carried to the drill sites. Playfair’s man-portable drill has now arrived in Norway, cleared customs and has been transported to Tynset, approximately 25 km from Rødalen, the first drill target. With a population of 5,400, Tynset is the municipal centre of the Nord-Østerdalen region. Arctic Drilling As., a local Norwegian Company will carry out the drilling.

Figure 2

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7302/94037_35fb048aa4722bdf_003full.jpg

A presentation on the drilling plans can be found at this direct link or on Playfair’s website.

The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.

The road to a cleaner environment includes electric vehicles. Electric vehicles need copper, nickel, and cobalt. There is no green future without minerals.

For further information visit our website at www.playfairmining.com or contact:

Donald G. Moore
CEO and Director
Phone: 604-377-9220
Email: dmoore@wascomgt.com

D. Neil Briggs
Director
Phone: 604-562-2578
Email: nbriggs@wascomgt.com

Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain “forward-looking” statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.

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.

Tags Don Moore, Playfair Mining, RKV Copper Project

Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Royalty Grants Incentive Stock Options

Post author By admin
Post date August 19, 2021

Vancouver, British Columbia–(Newsfile Corp. – August 19, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) announces that pursuant to the Company’s Stock Option Plan, incentive stock options (the “Options”) to purchase an aggregate of 500,000 common shares, exercisable at a price of $3.66 per share for a period of five years, has been granted to certain directors, and a consultant of the Company.

For further information contact:

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

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

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/93798

Tags #JuniorMining, #MauriceJackson, #ProvenAndProbable, EMX, EMX Royalty, Scott Close

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