Labrador Gold is a Canadian-based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada. The Company is advancing the Kingsway Gold Project, located in the Gander Gold District of Newfoundland. The project is strategically located contiguous to New Found Gold’s Queensway Project and lies along strike to the northeast of their recent discovery of 92.86g/t Au over 19.0 meters.
VANCOUVER, BC, March 11, 2022 /CNW/ – Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) announces that further to is news release dated March 9, 2022, the Company has issued 402,815 common shares in the capital of the Company (“Common Shares“) to Haywood Securities Inc. (“Haywood“) pursuant to a financial advisory agreement between Haywood and the Company. As previously described in the Company’s management information circular dated January 24, 2022 (the “Circular“), Dolly Varden engaged Haywood to provide financial advisory services in connection with Dolly Varden’s acquisition of a 100% interest in the Homestake Ridge gold-silver project from Fury Gold Mines Ltd. (“Fury“), which closed on February 25, 2022 (the “Transaction“). The Common Shares were issued to Haywood at a deemed price of $0.5896 per share for an aggregate value of $237,499, which represents a portion of Haywood’s fee for advisory services they provided to Dolly Varden in respect of the Transaction. The deemed price per share of $0.5896 is substantially equal to the price per share issued by Dolly Varden to Fury and Hecla Canada Ltd. in connection with the Transaction.
Further information regarding the Transaction is provided in the Circular and the Company’s news release announcing closing of the Transaction dated February 25, 2022. The Circular and closing news release are available under the Company’s profile on SEDAR at www.sedar.com.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Burlington, Ontario–(Newsfile Corp. – March 11, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) announces it today has closed on $810,075 in its previously announced financing, bringing the total raised to date to $1,574,075.
This tranche represents 2,205,188 Units, with each Unit priced at $0.40 (forty cents). Each Unit consists of one common share and one full 60-cent (sixty cent) warrant with a 24-month term, with each such warrant being exercisable into a common share (the “Financing”). There is no acceleration clause on such warrants.
This is the second tranche of Units on which SBMI has closed. The first tranche of $764,000 was announced February 18, 2022. SBMI has further subscription agreements in hand which means SBMI will close on at least one further tranche before March 26, 2022.
These proceeds from the Financing will be used to complete the process of putting the Buckeye Silver Mine into pilot production in March, 2022, to advance work at the past-producing silver and gold Washington Mine in Idaho, and for working capital.
“This financing is a success for the company and the shareholders,” said A. John Carter, SBMI’s CEO. “Our original minimum target was $500,000 and the investors blew that number away. The funds raised in this financing have been budgeted to be more than enough to put the Buckeye Mine into production, to complete our mill, and to advance the Washington Mine to where it can be ready for mineral extraction.”
Referral fees may be paid to arm’s length persons in connection with the issuance of the Units. Other than the subscription agreement, there will be no further offering material provided to Existing Security Holders or others related to Financing. The subscription agreement is available at the Company’s website https://www.silverbulletmines.com/technical-corporatedocuments.
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 viruses create risks that at this time are immeasurable and impossible to define.
Vancouver, British Columbia–(Newsfile Corp. – March 11, 2022) – Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the “Company” or “Provenance“) is issuing this news release to clarify its disclosure as a result of a review by the British Columbia Securities Commission. The Company has been advised that certain wording used in previous news releases and communication could have implied the existence of current mineral resources on projects controlled by the Company. All resource estimates are considered historical in nature and are based on prior data and reports prepared by previous property owners. Projects controlled by the Company do not host a current mineral resource at this time.
Following the review, the Company has made revisions to its corporate website and investor presentation, as well as removed certain historical disclosure from social media channels. The Company encourages shareholders to review the current corporate website and presentation at: www.provenancegold.com.
Qualified Persons
Certain historic disclosure issued by the Company was reviewed and approved by Rauno Perttu, the Chief Executive Officer of the Company, as a qualified person in accordance with National Instrument 43-101. Mr. Perttu is a registered Engineering Geologist with the Oregon State Board of Geologist Examiners. The Company has been advised that this registration does not meet the requirements for a qualified person in accordance with National Instrument 43-101, and as a result Mr. Perttu will no longer review and approve disclosure as a qualified person.
Steven Craig, P. Geo., an independent consulting geologist and qualified person for the purposes of National Instrument 43-101, has conducted a review of historical technical disclosure made by the Company and at the time reviewed and approved by Mr. Perttu. Mr. Craig has approved this disclosure based on the information that was available to the Company at the time and subject to the clarifications noted below. Mr. Craig has also reviewed and approved the technical contents of this News Release.
Eldorado Property
Disclosure made by the Company through social media channels on December 14, 2021 included references to a mineral resource at the Company’s Eldorado Property. The Eldorado Property does not host a current mineral resource. All resource estimates for the Eldorado Property are considered historical in nature and are based on prior data and reports prepared by previous property owners. While the Company does hope to produce a current resource estimate for the Eldorado Property in 2022, to date a qualified person has not done sufficient work to classify any of the historical estimates as current. Significant data compilation, redrilling, resampling and data verification will be required by a qualified person before the historical estimates on the Eldorado Property can be classified as a current resource.
White Rock Property
Disclosure made by the Company through social media channels on August 16, 2021 and October 13, 2021 included references which could have implied the existence of a mineral resource at the Company’s White Rock Property. While the Company does hope to produce a maiden resource estimate for the White Rock Property in 2022, to date no resource estimate exists for the White Rock Property and any previous references to a resource should not be relied upon. The Company also cautions that past results and discoveries on properties in proximity to the White Rock Property are not necessarily indicative of the presence of similar mineralization on the White Rock Property.
Mineral Hill Property
Disclosure made by the Company through a news release issued on April 22, 2021 included references to historical bulk sampling of dumps existing on the Company’s Mineral Hill Property. These samples could have implied a value across the full range of dump material located on the Mineral Hill Property. The Mineral Hill Property does not host a current mineral resource. Disclosure of this information should not have been, and should not be relied upon until, a qualified person has done sufficient work to establish a current resource in accordance with current CIM (Canadian Institute of Mining, Metallurgy and Petroleum) categories.
Silver Bow Property
Disclosure made by the Company through a news release issued on January 22, 2020 included references to the Silver Bow Property hosting a lower grade gold resource. The Company clarifies that to date no resource estimate exists for the Silver Bow Property and any such references should not be relied upon.
Economic Assessment
Certain historic disclosure issued by the Company includes references to the evaluation of the economic merits for development of the projects held by the Company. The Company clarifies that its current projects are at an exploration phase and have not yet advanced to a point where evaluation of the economic prospectus for development can be reasonably assessed.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in four properties, three in Nevada, and one in Eastern Oregon, USA. For further information please visit the Company’s website at https://provenancegold.com or contact Rob Clark at rclark@provenancegold.com.
On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer
Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
TORONTO, March 10, 2022 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) announces that it has filed a preliminary short form base shelf prospectus with the securities regulatory authorities in each of the provinces of Canada except Québec. The base shelf prospectus, when final, will allow Eloro to qualify the distribution by way of prospectus of up to C$100 million, in aggregate, of common shares, warrants and units, or any combination thereof, from time to time during the 25-month period during which the base shelf prospectus is effective. The specific terms of any future offering will be established in a prospectus supplement to the base shelf prospectus, which supplement will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.
Eloro is filing a base shelf prospectus to provide the Company with greater financial flexibility going forward but has not entered into any agreements or arrangements to authorize or offer any securities of the Company at this time.
A copy of the preliminary short form base shelf prospectus is available under Eloro’s profile on SEDAR at www.sedar.com.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, any securities of the Company in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.
For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa, Vice-President at (416) 868-9168.
Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company’s plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company (forward-looking statements in this news release include, without limitation, statements regarding future financings, if any, pursuant to the short form base shelf prospectus referred to above). There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, BC / ACCESSWIRE / March 10, 2022 / Granite Creek Copper Ltd. (TSX.V:GCX | OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the final assay results from the Company’s Phase 2 Reverse circulation (“RC”) and Phase 3 diamond drill programs at the 100%-owned Carmacks project.
Live Webinar
Granite Creek Copper will be hosting a live webinar on Thursday, March 17 at 10am PT (1pm ET), during which President & CEO, Timothy Johnson will be joined by Project Geologist, Jacob Longridge, for a comprehensive update on the Company’s Carmacks copper-gold silver project, including Q&A. To register, click here.
The objective of the Phase 2 RC program was early-stage evaluation of additional targets adjacent to known zones as well as step-out drilling at Carmacks Norths’ Zone A area. The program was successful in identifying mineralization in 13 of 20 holes with several areas prioritized for follow-up diamond drilling in the 2022 field season. The Phase 3 diamond program was targeted at confirming the geometry in Zone 2000S, complementing hole CRM21-011 which intercepted 105 m of 1.18% Copper Equivalent (“CuEq”) (0.96% Cu, 0.01% Mo, 0.18 g/t Au, and 4.06 g/t Ag) (see news release dated August 24, 2021). Additional drilling was conducted in the central portion of Zone 13 to further upgrade resources in this zone (Figure 1).
Granite Creek President & CEO, Tim Johnson, commented, “We are extremely pleased with the results of our 2021 exploration program which achieved all of our objectives and exceeded our expectations in several important respects. We expanded sulfide mineralization in three of the main zones at Carmacks which will be reflected in an updated NI 43-101 resource estimate, followed by a new mine plan which is being developed to incorporate both oxide and sulfide material. We anticipate the sulfide resources could make a significant difference to the mine life and economics of the Carmacks deposit and we look forward to further defining that potential.”
The results of Phase 3 have highlighted the predictable geometry of zone 2000S (see Figure 2). Both drillholes intersected mineralization well below the current sulphide resource1,2, with drill hole CRM21-023 intersecting mineralization approximately 120 meters below the base of the inferred sulphide resource and extending through to approximately 230 m below the base of the current inferred sulphide resource. Two holes drilled in Zone 13 continue to highlight the potential of this zone with CRM21-025 intercepting 120.65 m grading 0.76% Cu, 0.016% Mo, 0.14 g/t Au, 2.53g/t Ag or 0.94% CuEq. These 2021 drill campaign results will be incorporated into an updated National Instrument 43-101 resource estimate being prepared by SGS Canada.
Drillhole
From(m)
To(m)
Length*(m)
Cu(%)
Mo(%)
Au(g/t)
Ag(g/t)
CuEq** (%)
Zone
CRM21-022
233.70
302.00
68.3
0.51
0.009
0.13
2.30
0.66
2000S
CRM21-023
324.23
446.00
121.77
0.39
0.007
0.13
1.76
0.52
Including
330.00
382.75
52.75
0.63
0.009
0.21
2.74
0.84
CRM21-024
54.80
93.00
38.20
0.79
0.005
0.16
3.27
0.95
13
Including
64.00
77.00
13.00
1.47
0.006
0.23
5.85
1.71
CRM21-024
106.50
158.70
52.20
0.26
0.010
0.06
1.01
0.34
Including
134.00
149.00
15.00
0.36
0.021
0.08
1.28
0.51
CRM21-025
88.65
209.30
120.65
0.76
0.016
0.14
2.53
0.94
Including
106.00
155.40
49.40
1.08
0.015
0.20
3.41
1.31
CRM21-025
283.75
287.85
4.10
1.76
0.014
0.14
7.99
1.99
Table 1- Highlights from of 2021 Phase 3 Diamond Drilling
** 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-sections, are estimated to be typically 40-60% of the intersected widths.
Figure 1: Location of diamond and RC drilling in this release
Figure 2: Cross section through 2000S with deepest intercept (CRM21-023)
The phase 2 RC drilling was conducted in Zones 2, 5, 12 at Carmacks and Zone A at Carmacks North. The purpose of the program was to test zones peripheral to the deposit and find targets for follow up with the diamond drill. The program was most successful in Zone 5 where 4 of 4 holes intersected mineralization and, consequently, Zone 5 will be a priority for drilling in 2022. The program was also successful in Zone 12 where it was used to trace and test mineralization on the west side of the zone that is not included in the 2016 resource estimate. Six of seven holes in zone 12 intersected mineralization. At Zone 2, mineralization was intersected in 2 of 6 holes.
At Zone A, the drill was used to test geophysical targets, but the program was cut short due to drilling difficulties. One of the 3 holes intersected mineralization but the other two did not reach target depth due to difficult drilling conditions.
Table 1: Selected highlights from previously released 2020 and 2021 drillholes
Drillhole
From(m)
To(m)
Length*(m)
Cu(%)
Mo(%)
Au(g/t)
Ag(g/t)
CuEq** (%)
Zone
CRM21-004
323.50
367.00
43.50
1.12
0.028
0.20
3.41
1.40
1
Including
338.50
367.00
28.50
1.57
0.042
0.29
4.53
1.96
and including
352.00†
367.00
15.00
1.80
0.066
0.33
4.81
2.31
CRM21-014
355.70
423.45
67.75
0.93
0.009
0.26
5.16
1.20
Including
398.00
423.45
24.45
1.53
0.009
0.41
6.21
1.91
CRM21-019
277.95
345.30
67.35
0.93
0.011
0.31
4.23
1.23
Including
322.00
345.30
23.30
1.7
0.016
0.57
7.51
2.27
CRM21-005
137.05
179.80
43.24
0.74
0.047
0.16
3.82
1.06
2000S
Including
142.05
158.40
16.35
1.20
0.036
0.26
6.11
1.58
CRM21-006
194.40
278.20
83.80
0.64
0.012
0.13
3.23
0.81
Including
229.20
278.20
49.00
0.87
0.018
0.17
3.88
1.10
Including
248.76
266.20
17.44
1.21
0.033
0.22
5.11
1.53
CRM21-011
223.98
329.50
105.52
0.96
0.013
0.18
4.06
1.18
Including
223.98
245.20
21.22
2.17
0.010
0.36
9.13
2.56
and including
260.32
260.82
0.50
18.97
0.008
0.46
38.3
19.72
CRM20-001
102.85
230.12
127.27
0.61
0.028
0.131
2.14
0.85
13
Including
104.85
133.50
28.65
1.03
0.014
0.14
3.09
1.28
CRM21-021
132.15
229.00
96.85
0.62
0.014
0.20
3.04
0.84
Including
132.15
168.00
35.85
0.82
0.013
0.20
3.80
1.04
and including
207.65
229.00
21.35
0.80
0.021
0.43
3.51
1.21
[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.
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. Ms. James is a Senior Geologist with TruePoint Exploration and the Project Manager for the Carmacks Project.
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.
VANCOUVER, BC / ACCESSWIRE / March 10, 2022 / (CSE:ROO) (OTC:JNCCF) (Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“).
RooGold is pleased to announce that it has completed a reconnaissance field trip to the Gold Belt (EL9226), Trilby (EL9242) and Lorne (EL9232) Concessions which are located along the Peel-Manning Suture Zone .
Highlights
Positive meetings regarding logistics of land access agreements were held with land owners at Gold Belt and Trilby, with a hard copy landowner agreement delivered at Trilby South.
A total of 47 rock chip samples were taken. The majority were taken from Trilby South in an area of quartz veining and gossanous outcrop.
Fieldwork at Lorne followed outcrops along the river where a number of prospectors were panning and sluicing for gold.
The Peel South Concession (ELA 6429) is under application which will significantly consolidate RooGold’s land holding along the Peel-Manning Fault Zone.
Carlos Espinosa, Chief Executive Officer and a Director of RooGold comments, “commencement of field work marks a very important milestone for the Company. The three concessions are priority targets located along the Peel-Manning Fault Zone, a crustal suture zone that has shed very significant gold alluvials along its length. It is also very encouraging that RooGold has received positive feedback from landowners“.
This field trip was designed to meet with landowners at the high-priority Trilby, Lorne and Gold Belt concessions. Given the positive feedback from landowners, RooGold is planning a more extensive field mapping program in the near future.
The Peel-Manning Suture Zone
The Peel-Manning Suture Zone is a crustal scale suture zone within the western part of the New England Orogen. Ophiolites, remnants of lower oceanic crust, are obducted within the suture. Numerous alluvial fields are clustered along the Peel-Manning suture zones and demonstrates its potential to host significantly gold-mineralized hydrothermal systems.
Figure 1: RooGold NSW concessions (Red) on a 90 m Digital Terrane Model showing gold (yellow) and silver (blue) occurrences and mines.
Globally there is a close association between quartz carbonate alteration of serpentinite (known as listwanite) and gold mineralization. Examples include Bralorne, California Mother Lode and multiple >1 Moz gold deposits clustered along a listwanite altered suture zone within the Saudi Arabian shield. Listwanite hosted gold mineralization is a poorly understood class of gold deposit. This in part reflects the fact that surface expression may be quartz poor and lack the obvious vectors to gold mineraliztion, other than alluvial gold.
This is reflected in the discovery history of Bralorne following the Fraser River alluvial gold rush in the 1860’s. Hard rock mining initially led to small scale production between 1889 and 1929. Between 1929 and 1971 over 4 Moz of gold was produced at grades above 15 g/t from 30 veins.
Similarly Motherlode was discovered following the Californian alluvial gold rush. The Motherlode Trend is associated with a crustal scale suture marked by a complex ophiolitic zone that is up to 2 km wide and can be traced for over 190 km. Throughout its history Motherlode has produced over 11 Moz of gold at grades of between 4 to 16 g/t Au from multiple quartz veins and lodes.
The fact that the Peel-Manning is a crustal suture that can be traced for several hundred kilometers, is marked by obducted serpentenites and has shed significant alluvial gold, underlines its prospectivity. RooGold holds a commanding land package along the Peel-Manning and associated fault splays, which will be the focus of initial exploration.
It is also significant that Newmont has staked a similarly oriented palaeo arc, approximately 30 km to the west.
Peel South Application (ELA 6429)
RooGold is also pleased to announce that it submitted an application for the Peel South concession which coveres 231 km2 along the Peel-Manning Suture Zone. Serpentenite crops out along the suture and associated second and third order splays. These structures represent high priority exploration targets.
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering approximately 1,380 km2 which have 137 historic mines and prospects.
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”,”expect”, “project”, “intend”,”believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
VANCOUVER, BC, March 9, 2022 /CNW/ – Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) announces that it proposes to issue 402,815 common shares in the capital of the Company (“Common Shares“) to Haywood Securities Inc. (“Haywood“) pursuant to a financial advisory agreement between Haywood and the Company. As previously described in the Company’s management information circular dated January 24, 2022 (the “Circular“), Dolly Varden engaged Haywood to provide financial advisory services in connection with Dolly Varden’s acquisition of a 100% interest in the Homestake Ridge gold-silver project from Fury Gold Mines Ltd. (“Fury“), which closed on February 25, 2022 (the “Transaction“). Haywood will be issued the Common Shares at a deemed price of $0.5896 per share for an aggregate value of $237,499.72, which represents a portion of Haywood’s fee for advisory services they provided to Dolly Varden in respect of the Transaction. The deemed price per share of $0.5896 is substantially equal to the price per share issued by Dolly Varden to Fury and Hecla Canada Ltd. in connection with the Transaction.
The issuance of the Common Shares to Haywood is subject to the approval of the TSX Venture Exchange.
Further information regarding the Transaction is provided in the Circular and the Company’s news release announcing closing of the Transaction dated February 25, 2022. The Circular and closing news release are available under the Company’s profile on SEDAR at www.sedar.com.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the issuance of Common Shares to Haywood.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Soil sample locations and results for gold assays, Apex project.
Key Highlights:
Surface geochemical program completed August 2021 identified new gold in soil anomaly extending over one kilometer northeast of old workings.
Results up to 1.09 ounces per ton gold and 1.10 ounces per ton silver in soil samples.
Anomaly located downslope and along strike from the Apex Mine.
VANCOUVER, British Columbia, March 09, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that positive assay results from a sampling and mapping program carried out in August 2021 have been received and compiled. The soil sampling results indicate that known mineralization at the former-producing Apex Mine likely extends 1,000 meters to the northeast.
Millrock President & CEO commented: “These are excellent results that show the gold-bearing quartz vein structure known from historic mining has significant strike continuity. Some of the soil sample numbers are of exceptional tenor.”
The exploration work was completed during August 2021 and consisted of a soil geochemical survey (439 samples), rock sampling (39 samples), and geologic mapping. Soil samples were collected along a 20 meter by 40 meter spaced grid. The survey was designed to test the presence and extent of gold-bearing quartz veins along strike and down-valley from known gold mineralization at the historic Apex and El Nido Mines located within the Cann Creek drainage.
All assay results have been received from the exploration work. A broad gold in soil anomaly was identified by the geochemical survey in the lower cirque valley of Cann Creek. Assays of soil samples returned values ranging from below detection to a maximum of 33,900 parts per billion gold (1.09 ounces per ton) and 34,400 parts per billion silver (1.10 ounces per ton). One hundred and seven of the 439 samples collected returned highly anomalous values exceeding 80 parts per billion gold. The anomaly occurs at approximately 300 meters elevation below outcropping vein exposures that host the Apex Mine and extends over one kilometer down valley from the historic workings, along strike of the vein swarm. The anomaly is also underlain by the same rock units (diorite and amphibolite) that hosts the Apex vein.
On August 12, 2021, Millrock announced that it had entered into an agreement with Coeur Explorations, Inc., a wholly-owned subsidiary of Coeur Mining, Inc. (“Coeur”), concerning the Apex gold project in Southeast Alaska. Under the agreement, Coeur agreed to fund approximately $200,000 worth of exploration work. Coeur has met its obligations by funding the work, but has elected to terminate the option agreement. Millrock is free to further explore the project on its own or find another earn-in partner.
Millrock President & CEO Gregory Beischer commented: “We enjoyed working with the Coeur Explorations team and thank Coeur for advancing the project. The soil anomaly presents a compelling target for drilling and significantly expands the strike potential of the small, historic underground mine”.
Quality Control – Quality Assurance Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. In this case, the assay work was done under an agreement between Coeur and the assay laboratory. Samples are kept in a secure location at all times. Samples were assayed at the Bureau Veritas laboratory in Vancouver, Canada. Preparation and analysis methods are described in further detail here. The sample preparation method codes utilized for the program were SS80 for Soils and PRP70-250 for Rocks. Analytical methods used were FA430 (lead collection fire-assay fusion-AAS finish) and MA250 (4 acid digestion Ultratrace ICP-MS) for all samples. A 10% QA/QC sample insertion rate was used for all samples: 5% CRM (Certified Reference Materials) of known gold concentration and 5% blank material. The Qualified Person is of the opinion that the results reported in this press release are reliable.
Qualified Person The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations Toll-Free: 877-217-8978 | Local: 604-638-3164 Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to form earn-in joint venture agreements and to perform further exploration. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Kelowna, BC–(Newsfile Corp. – March 8, 2022) – Diamcor Mining, Inc. (TSXV: DMI) today announced that Dean Taylor, CEO will be attending the Q1 Virtual Investor Summit. Mr. Taylor will be presenting the Company’s growth initiatives and the broader going-forward corporate vision. The presentation will be webcast and an archived recording will be accessible on The Investor Summit website for 90 days.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
The Investor Summit (formerly MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors. The Q1 Investor Summit will take place virtually, featuring 90+ companies and over 500 investors comprising institutional investors, family offices, and high net worth investors. Sectors Participating: Biotech, Communication Services, Consumer, Energy, Energy/Tech, Financial, Healthcare, Industrials, Materials, Real Estate, Technology, and Tech/Crypt. Contact: info@investorsummitgroup.com
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