The world is in an epoch battle between the forces of evil represented by the Gang of Weasels led by Klaus Schwab, Bill Gates, George Soros, all of the Davos clowns, the MSM and the Young Global Leaders on one side and the 99% yearning for freedom from unlimited government on the other.
The battle has been planned and in progress for many years. The Gang of Weasels want you to believe that all you need to do to change the climate is to increase taxes and hand the money to them.
Klaus Schwab and his minions were the driving factor behind the BLM and ANTIFA riots. We were treated to videos with a breathless reporter standing in front of a burning building talking about “a mostly peaceful protest”.
The riots from the “mostly peaceful protest” cost over two billion dollars and resulted in the deaths of twenty-five people. The American people owe a vote of thanks to George Soros and the WEF. The purpose was to overthrow a popular president and when the most corrupt election in US history ended picking the opposition candidate, the riots went away overnight.
The entire Covid bullshit story was a deliberate invention. Moderna patented part of the virus DNA three years before Covid got a name. Fauci and the US paid for the Gain of Function done at the Wuhan lab before the virus either escaped or was deliberately released. It was a bad flu. Even the CDC admitted two cheap and effective safe drugs in common use could have cured it. They did that in April of 2020.
The lockdowns created far more hardship but the bad flu didn’t care. The masks didn’t work. Dr. “Follow the Science” Fauci came up with five different and conflicting rules for wearing masks. Which of the five ways was “Following the Science?” Then he lied in sworn testimony to Congress about the gain of function.
Social Distancing changed nothing. Shutting down the economy had no effect on the virus but the Gang of Weasels kept telling the world through their MSM mouthpieces that they were winning.
Finally the barely tested “vaccines” arrived and the Gang of Weasels began the clamor for everyone to take the jab even though the companies making the “vaccines” knew all about all of the deadly effects. The EUA required by law was always illegal because the CDC knew and hid the fact that two different drugs were more effective.
The entire purpose of the Covid mass hysteria was to get a worldwide “vaccine” passport that is nothing but a mass ID plan so the Gang of Weasels can seize financial assets from the 99% once they wake up and start to complain.
Insurance companies and pathologists began reporting that something deadly was killing people. Excess deaths are up 40% in the 18-65 age group and autopsies are showing bizarre blood behavior in those who had taken the jab.
In the book “The Fourth Turning” written in 1997 the authors predicted a Crisis Stage starting about 2005 where either tyranny ensues or the public wakes up and begins to demand freedom.
In any revolution most of the masses stand aside to see who will determine their future. In the just now starting worldwide revolution perhaps ten to fifteen percent of people care enough about freedom to fight for it. The counter-revolution seems to have begun in Canada with totally peaceful protests from Canadian truck drivers. In Canada the only time anyone riots is after an ice hockey game.
The truck drivers crossing Canada to land in Ottawa in front of their Parliament was a sight to see with thousands of ordinary citizens standing on overpasses cheering and waving giant Canadian flags as the truckers passed. Anyone who actually wanted to understand what the issues were only had to watch Trudeau speaking in Parliament and watching the protest outside.
According to Trudeau the protestors were evil and the worst people in the world who wanted to overthrow the government. It was interesting to me that during pretty much a month, not a single legislator went outside to talk to the protestors as if talking to them would somehow validate their cause. The legislature was entirely tone deaf and finally Trudeau, at the suggestion of his master in the WEF evoked The Emergencies Act of Canada, similar in form and function to The Enabling Act passed in Germany in March of 1933 giving total control to the government.
Another WEF puppet in the form of Chrystia Freeland, the Deputy Prime Minister of Canada promptly told the banks to seize the accounts of all of those who contributed to support the truckers. People who had contributed as little as $50 found their accounts closed and the money stolen by the government. This of course has always been the intent of Klaus Schwab and the WEF to gain total control of an economy. Bear in mind that when the person behind the $50 donation made it, protests were perfectly legal in Canada and the donation was perfectly legal.
Those elites who have never held a real job or worked for a living or created anything of value via a business not only believe they are better and smarter than the rest of the 99% but far more powerful.
Chrystia Freeland discovered much to her dismay that she didn’t have the power that she thought she had. The remaining people who had made donations beat it to the bank and withdraw their money and transferred their accounts before the government could steal it. That of course caused the entire Canadian banking system to freeze.
If you have a cat and it claws you, you have the power to take said feline and hurl it against the wall but power is only useful when used in moderation. Trudeau and Freeland found out the hard way the limits of power and after being informed that Canada was about to shut the doors on a permanent basis because of their stupidity, they promptly backtracked.
Covid and the truckers had their day and the WEF needed a new chapter of fear porn. So the US and Nato pushed Ukraine into attacking Donbass secure in the belief the US had their backs. Of course Nato and the US are willing to fight Russia in Ukraine to the last drop of Ukrainian blood. Putin responded by repeating again and again that attacks on Donbass, Ukrainian nuclear weapons and Ukraine joining Nato were all lines in the sand that he would not tolerate them crossing. But the WEF and the neocons in Washington were determined to have their little war with Russia.
Wars are easy to start and hard to finish. No one ever wins any war; all that happens is that one side loses more than the other.
We have that war now that the US and Nato began. A stalemate will guarantee a nuclear exchange. Russia will not be defeated.
The US is in an interesting position with the weakest leadership in US history. The president is senile and should be at home in front of a fire counting the money he was paid in bribes from Ukraine through his crack head son. The VP shows the ultimate result of selecting people for positions strictly on the basis of sex and being a minority.
Kamala Harris is truly a stupid woman. She even challenges Justin Trudeau for stupidity. The last real decision Trudeau ever made was the selection of what kind of shoe polish he should use for his costume for a party. Should he use black or would brown be a better color?
World diplomacy has morphed into what is little more than mass mob hysteria with the Pope, Switzerland and most of the world treating this war as if it is some minor football match where you dress up in the jersey of your favorite star. How on earth did Switzerland come to the conclusion they needed to speak up on behalf of the Nazis in Ukraine? They didn’t speak up for Iraq, or Afghanistan or Iran or Syria.
The sanctions laid on Russia for daring to do what they said they would do to defend their country and their citizens are not similar to that of dropping a turd in the punch bowl. It’s a lot more like dropping the entire punch bowl into a cesspool and inviting the world to sip. The sanctions are going to blow up the entire debt based paper economy since individuals no longer actually own their assets. The government can steal them at any time for any reason.
The real reason there is so much hysteria in the MSM is because actually the Gang of Weasels is losing big time as citizens wake up one at a time and realize that freedom is not free, it must be paid for.
VANCOUVER, BC / ACCESSWIRE / March 7, 2022 / Group Ten Metals Inc. (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) (the “Company” or “Group Ten”) today reports partial results from four drill holes in a second tranche of drill results from the 14-hole resource expansion campaign completed at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA.
Results continue to support the Company’s priority objective of expanding the October 2021 inaugural mineral resource estimates, with multiple wide and highly mineralized intervals returned in step-out drilling at three deposit areas that span seven kilometers of the 12-kilometer core project area (see Figure 1). Mineralization remains open to expansion along trend and at depth in all deposit areas.
2021 Drill Highlights:
IM2021-04 returned 115 meters of 0.37% Nickel Equivalent (“NiEq”), or 0.98 g/t Palladium Equivalent (“PdEq”) in a step-out hole to the south of the HGR deposit area at Iron Mountain. Mineralization starts at surface and runs the entire length that has been assayed to date, returning 369 meters at 0.22% NiEq (0.60 g/t PdEq). Assays are pending from the bottom 53 meters of the 422-meter hole. As shown in Table 1, successive contained higher-grade intervals include:
9.8 meters of 1.43 g/t 3E (Pd+Pt+Au) plus Ni, Cu, and Co values for total mineralization of 0.74% NiEq, or 1.98 g/t PdEq, and;
4.8 meters of 1.35% NiEq (equal to 3.60 g/t PdEq) as 0.74% Ni, 0.65% Cu, 0.07% Co, and 0.24 g/t 3E.
CM2021-03 returned 0.24% NiEq (0.63 g/t PdEq) across its entire 428-meter length in step-out drilling in the DR and Hybrid deposit area, including contained intervals at higher grades:
30.3 meters of 0.99 g/t 3E plus Ni, Cu, and Co values for a total of 0.51% NiEq, or 1.36 g/t PdEq;
0.50% NiEq, or 1.34 g/t PdEq, over 9.2 meters, and;
0.50% NiEq, or 1.34 g/t PdEq over 7.2 meters in a separate, lower interval.
CM2021-02 returned top-to-bottom mineralization with 333 meters at 0.23% NiEq, or 0.61 g/t PdEq, and successive higher-grade intervals including 17.0 meters of 0.51% NiEq (1.35 g/t PdEq).
These results, in addition to results released December 20, 2021, demonstrate significant potential to expand the October 2021 mineral resource estimates with multiple long intervals at grades well above the 0.20% NiEq cut-off grade used in that study. Moreover, as shown in Figures 2 and 3, these results provide important intercepts in step-out drill holes located up to several hundred meters from three of the five deposits modeled in the 2021 resource estimate:
CM2021-02 and -03 are two of six holes drilled in 2021 in the DR and Hybrid deposit area to step out from high-grade nickel sulphide-PGE mineralization identified in hole CM2020-04. In addition, these holes also returned potentially significant extensions of hybrid-type mineralization. Hole CM2021-01, reported December 20, 2021, was drilled south from the same pad as CM2021-02 and returned 728 meters of continuous sulphide mineralization at 0.27% NiEq, or 0.73 g/t PdEq, with multiple contained intervals at successively higher grades;
CZ2021-02 is one of two holes drilled in 2021 to step-out to the south of the CZ deposit in the area of wide, high-grade mineralization returned in hole CZ2019-01. Hole CZ2021-01, reported December 20, 2021, returned the widest high-grade intercept to date on the project being 63.7 meters of 0.92% NiEq (2.46 g/t PdEq) in this area;
IM2021-04 is one of six holes drilled in the HGR deposit area with the objective of expanding on wide intervals of high-grade mineralization returned in hole IM2019-03 which returned 272 meters at 0.43% NiEq (1.16 g/t PdEq) including 26.8 meters at 1.24 g/t 4E, 0.34% Ni, 0.15% Cu, and 0.019% Co, for 0.96% NiEq (2.55 g/t PdEq).
Assay results remain pending from eight holes, in addition to rhodium assay results on the majority of mineralized intervals reported to date.
Michael Rowley, President and CEO, commented, “The Stillwater Igneous Complex has been a large-scale American source of critical minerals for many decades, from chromium mined in the 1940s and 1950s to palladium and platinum that became essential in the 1980s. Our “Platreef-in-Montana” model is well-timed for what we believe will be the next phase of the Stillwater district’s contribution to critical mineral supply and commodity independence in the USA; world-class nickel and copper sulphide deposits, enriched in palladium, platinum, rhodium, gold, and cobalt and hosted in the lower Stillwater complex at Stillwater West.”
“This second tranche of drill results from our resource expansion campaign builds nicely upon the first results and continues to advance us towards expanded resource estimates in three of the five deposit areas on a priority basis. We continue to see demonstrations of a large mineralized system with an impressive endowment of eight of the commodities listed as critical by the US government in numerous holes across the 12-kilometer core project area. In addition, we continue to see good optionality on possible mining methods with successively higher-grade intervals contained within wider intervals of hundreds of meters of lower grade mineralization. We look forward to reporting additional drill results, exploration plans for 2022, and other news in the near term.”
Table 1 – Highlight Results from 2021 Expansion Drill Campaigns at the DR, Hybrid, CZ, and HGR Deposit Areas
Assays pending for rhodium and certain intervals denoted by *. Highlighted significant intercepts with grade-thickness values over 20 gram-meter PdEq are presented above, except as noted. Grade thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using metals prices as follows (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. In terms of dollar value, 0.20% nickel equates to a copper value of 0.40%, or a palladium value of 0.53 g/t, using the above metal values. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.
Upcoming News and Events
Jeffrey Christian, Managing Director of CPM Group, will join Group Ten CEO Michael Rowley for a live webinar on March 8, 2022, at 10:00 am PT (1:00 pm ET) for a concise overview and update on the Company and the Stillwater West PGE-Ni-Cu-Co+Au project with in-depth discussion on the global macro-economic picture, trends and implications for the broader commodities sector and critical minerals, in particular.
This will be an interactive event with participants encouraged to submit questions and comments throughout.
Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions Group Ten as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.
Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.
2021 drill core samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.
Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten 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 Group Ten 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 7, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“) would like to officially welcome Carlos Espinosa as Chief Executive Officer (CEO), President and member of the Board of Directors, effective as of March 4th, 2022.
Further to the news release dated February 9, 2022, Mr. Espinosa replaces Michael Mulberry, who will remain a Director of RooGold. Yana Borovskaya has officially stepped down from the Board of Directors concurrent with the appointment of Mr. Espinosa.
Carlos Espinosa commented, “I am very excited to join a company with a great team of professionals and excellent gold and silver assets in Australia, a country with a long mining tradition and one of the best mining jurisdictions in the world. I am sure that together we will build a fantastic story and an amazing company, adding value to our shareholders, as well as local communities, government, employees and consultants, and the rest of stakeholders around RooGold.”
Issuance of Stock Options
RooGold has issued 1,000,000 incentive stock options (the “Options“) to certain directors, officers, employees, and consultants of the Company, effective March 4, 2022 (the “Effective Date“). The Options have an exercise price of $0.30 and are exercisable for a period of five (5) years, expiring March 4, 2027. The Options will be subject to a vesting schedule whereby 166,667 Options will vest every six (6) months from Effective Date.
About ROOGOLD
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. RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 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 ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, March 07, 2022 (GLOBE NEWSWIRE) — Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that the Company has entered into an agreement with Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners, on behalf of a syndicate of agents including Haywood Securities Inc. (collectively, the “Agents“) in connection with a best efforts brokered private placement financing (the “Offering“) to raise gross proceeds of up to $10 million from the sale of up to 9.8 million common shares of the Company that qualify as “flow-through shares” as defined under the Income Tax Act (Canada) (the “Offered Shares“) at a price of $1.02 per share (“Offered Price“).
“On the heels of the transformational acquisition of Homestake Ridge, these additional funds will allow the company to aggressively advance one of the largest high-grade, undeveloped silver and gold assets in Western Canada.” commented Shawn Khunkhun, Chief Executive Officer of the Company.
The Agents will have an option (the “Agents’ Option“) to offer for sale up to an additional 15% of the number of Offered Shares sold in the Offering at the Offering Price, which Agents’ Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.
The net proceeds of the Offering will be used for further exploration, mineral resource expansion and drilling in Kitsault Valley located in northwestern British Columbia, Canada, as well as for working capital as permitted.
In connection with the Offering, the Agents will receive an aggregate cash fee equal to 6.0% of the gross proceeds of the Offering, including in respect of the Agent’s Option.
The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The issuance of the Offered Shares under the Offering and the payment of the Agents’ commission are subject to the approval of the TSX Venture Exchange, receipt of any other required regulatory approvals and other customary closing conditions. Closing of the Offering is anticipated to occur on or about March 30, 2022. Securities issued under the Offering will be subject to a four-month and-one-day statutory hold period.
Pursuant to the ancillary rights agreement between Hecla Canada Ltd. (“Hecla“) and the Company dated September 4, 2012, Hecla will be entitled to acquire common shares of the Company at a price of $0.86 per share to maintain its pro rata equity interest in the Company. If Hecla exercises its pro rata rights under the ancillary rights agreement, any common shares issued to Hecla will be in addition to those issued as part of the Offering.
Pursuant to the investor rights agreement between Fury Gold Mines Ltd. (“Fury“) and the Company dated February 25, 2022, Fury will be entitled to acquire common shares of the Company at a price of $0.86 per share to maintain its pro rata equity interest in the Company. If Fury exercises its pro rata right under the investor rights agreement, any common shares issued to Fury will be in addition to those issued as part of the Offering.
This release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom.
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, completion of the Offering, TSX Venture Exchange approval of the Offering, the use of proceeds with respect to the Offerings, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
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.
PARTNERING THE MOST HIGH RISK, HIGH-COST STAGES OF EXPLORATION Millrock (TSX.V: MRO.V) is a project generator company focused on the discovery and development of high-value metallic mineral deposits in two jurisdictions with outstanding potential: the State of Alaska and Mexico – primarily the state of Sonora. The company’s main emphasis has been on gold and copper, focusing on porphyry and high-grade vein style deposits. Our objective is to discover a world-class ore body, building further shareholder value through the exploration and development of existing projects and exploration joint ventures.
Vancouver, British Columbia–(Newsfile Corp. – March 2, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the results from the remaining 13 holes of the 2021 diamond drill program at the 100%-owned Willoughby property, located near Stewart in British Columbia’s prolific Golden Triangle. The 2021 drilling program was designed to further narrow the gaps between the seven high-grade mineralized zones within the Willoughby nunataq and explore northeast, one kilometre across the Willoughby glacier at the Willow zone which displays high-grade analog mineralization. Assays were previously announced from the initial four drill holes on December 9, 2021. Assays are still pending from surface sampling on the Willoughby Property. In 2021, 4,050 metres of drilling was completed in seventeen holes as well as 129 metres of surface chip channel samples were completed at both the Icefall and Edge zones following up on 2020 surface results and in-field observations.
Drilling was successful in extending the 1,300m long high-grade gold and silver mineralization trend on the northern end at the Willow Zone, the northernmost limit of drilling to date on the Property. Mineralization is wide open for expansion. Highlights from the Willow Zone include:
W21-115 : 4.95 g/t AuEq over 9.88 m and 10.93 g/t AuEq over 1.50 m within a broader interval of 2.76 g/t AuEq over 26.50 m
W21-116 : 11.26 g/t AuEq over 3.00 m and 2.61 g/t AuEq over 4.00 m
W21-123 : 3.07 g/t AuEq over 3.00 m
W21-124 : 37.19 g/t AuEq over 0.50 m
Drilling on the Willoughby nunatak bridged the gap in mineralization between the Wilby and North zones and confirmed continuity of the mineralized horizon at the Edge zone. Edge zone results include:
W21-117 : 2.76 g/t AuEq over 6.50 m and 10.16 g/t AuEq over 1.50 m within a broader interval of 1.92 g/t AuEq over 19.50 m
W21-118 : 2.52 g/t AuEq over 3.00 m within a broader interval of 0.97 g/t AuEq over 10.00 m
W21-119: 3.25 g/t AuEq over 3.50 m within a broader interval of 1.54 g/t AuEq over 9.00 m
W21-120: 3.38 g/t AuEq over 3.00 m within a broader interval of 1.20 g/t AuEq over 17.00 m
“Willoughby continues to deliver discoveries of different styles of gold-silver mineralization. The concentration of sulphides encountered at Willow is truly impressive, even by Golden Triangle standards. Receipt of these high-grade assays at the margins of the replacement-style massive sulphides will allow us to target expansion drilling to the north, south, and down-dip mineralization during the 2022 field season,” said Shawn Khunkhun, President and CEO of StrikePoint Gold.
Figure 1. Overview Map of Willoughby’s Mineralized Zones
The Willow zone is the northernmost limit of mineralization drilled on the Willoughby property to date, separated by approximately 850 metres from the North Zone by the Willoughby glacier. In 2021, seven holes were completed from two pads in the Willow Zone. The drilling explored extensions of the mineralization trend, followed up on the 2020 surface results and an outlined north-northwest striking, steep westerly dipping structure analog to the faults observed at the Willoughby nunataq linked with bonanza gold and silver grades.
Figure 2. 2021 Willoughby Drilling – Willow zone drill holes plan view map
The drilling defined mineralization at the Willow zone further to the northeast of the known zone and confirmed close similarities with the mineralization observed on the nunataq in the five other mineralized zones (Wilby, Edge, Wilkie, Upper & Lower Icefall). Drill Hole W21-115 intersected 4.95 g/t AuEq over 9.88 metres and 10.93 g/t AuEq over 1.5 metres, within a broader interval of 2.76 g/t AuEq over 26.50 metres drilling northeast under the Willoughby ice sheet extending the Willoughby mineralization trend 150 metres to the north-east. From the second drill pad, drill hole W21-122 to W21-124 targeted mineralized contact between the Jurassic volcanic rock package and the dioritic intrusion. W21-123 intersected 3.07 g/t AuEq over 3.00 metres, and W21-124 intersected 37.19 g/t AuEq over 0.50 metres. Mineralization observed consisted of massive pyrite with sphalerite-chalcopyrite in limestone near-surface and intersected gold mineralization occurring proximal to Goldslide intrusion suite linked to mineralization at Ascot Resources’ Red Mountain Deposit, located seven kilometres west of Willoughby. The intrusive dykes to sills are interpreted to pool gold-bearing sulphides in the permissive Jurassic-aged rocks creating wide areas of disseminated gold-silver mineralization.
Figure 3: Massive replacement-style pyrite, sphalerite, chalcopyrite in contact with dioritic intrusive analog to the Goldslide intrusive at the Willow Zone in hole W21-115 grading 4.95 g/t AuEq over 9.88 m.
W21-116 intersected 11.26 g/t AuEq over 3.00 metres and 2.61 g/t AuEq over 4.00 metres mineralized intervals are within a fault breccia with strong pyrite cement interpreted to be the down-dip extension along strike of the north-northwest fault mapped at the surface during the 2020 surface program. These mineralized intercepts extend the Willow north structure, 100 metres southeast under the Willoughby ice sheet.
Figure 4: Fault breccia with strong pyrite cement in hole W21-116 grading 2.08 g/t AuEq over 10.00 m
At the Edge zone, significant gold mineralization was encountered in five drill holes completed from the same pad, 1000m south of Willow. The Edge zone is one of seven significant mineralized areas discovered to date on the Willoughby nunataq.
Figure 5. 2021 Willoughby Drilling – Edge zone drill holes plan view map
The 2021 drilling program at the Edge Zone was designed to step out from and extend gold mineralization along strike from the high-grade encountered during the 2020 surface program (news release December 14, 2020, up to 37.3 g/t Au & 263 g/t Ag in new areas of massive sulphide and veining). W21-117 intersected 2.76 g/t AuEq over 6.50 metres and 10.16 g/t AuEq over 1.5 metres within a broader interval of 1.92 g/t AuEq over 19.50 metres and W21-120 intersected 3.38 g/t AuEq over 3.00 metres within a broader interval of 1.20 g/t AuEq over 17.00 metres. The mineralization intersected in these holes consists of replacement-style sulphides within permeable lapilli tuff strata of the Early Jurassic lower Hazelton group. Mineralization is concordant with bedding and ranges from semi-massive to massive pyrite with accessory sphalerite-chalcopyrite. Goldslide suite dioritic intrusive sills are observed in proximity to the zone.
Figure 6. Edge zone mineralization in hole W21-120 on the Willoughby nunataq grading 3.38 g/t AuEq over 3.00 m within a broader interval of 1.20 g/t AuEq over 17.00 m.
Future drilling planned for 2022 will step out in all directions from 2021 intercepts at Willow zone and along the mineralized trend on the Willoughby nunataq with a focus between Icefall, Wilby, and Edge zones. Exploration drilling will focus on the unexplored gap between Willow and the North zone as the extension of the mineralized trend to the south of the property.
Hole-ID
Zone
From (metres)
To (metres)
Length (metres)
Gold (g/t)
Silver (g/t)
AuEq (g/t)
W21-112
Icefall
Abandoned at 8.00 m due to poor ground conditions
W21-113
Willow
3.00
5.00
2.00
1.04
17.50
1.29
99.00
99.50
0.50
4.49
32.20
4.95
W21-114
Willow
40.60
61.00
20.40
0.41
3.31
0.46
74.00
75.50
1.50
1.26
2.40
1.30
W21-115
Willow
5.00
6.50
1.50
0.61
18.20
0.87
24.50
51.00
26.50
2.39
26.26
2.76
26.00
27.50
1.50
8.82
148.00
10.93
36.12
46.00
9.88
4.44
35.72
4.95
W21-116
Willow
2.00
12.00
10.00
1.77
21.77
2.08
23.00
27.00
4.00
2.15
32.05
2.61
75.50
78.50
3.00
8.54
190.60
11.26
W21-117
Edge
27.00
32.00
5.00
0.76
3.96
0.82
67.50
87.00
19.50
1.90
1.84
1.92
67.50
74.00
6.50
2.71
3.84
2.76
85.50
87.00
1.5
10.15
0.80
10.16
W21-118
Edge
71.00
81.00
10.00
0.95
1.88
0.97
71.00
74.00
3.00
2.47
3.97
2.52
W21-119
Edge
69.00
78.00
9.00
1.52
1.14
1.54
74.50
78.00
3.50
3.22
2.11
3.25
W21-120
Edge
69.00
86.00
17.00
1.18
1.03
1.20
73.00
76.00
3.00
3.33
3.10
3.38
W21-121
Edge
74.50
75.50
1.00
1.66
1.50
1.68
74.50
84.00
9.50
0.37
0.67
0.38
W21-122
Willow
113.50
115.00
1.50
0.84
0.70
0.85
139.00
140.00
1.00
2.85
3.20
2.90
W21-123
Willow
103.50
106.50
3.00
3.01
4.48
3.07
173.50
175.00
1.50
1.33
0.60
1.34
W21-124
Willow
102.50
103.00
0.50
36.90
20.00
37.19
150.84
153.50
2.66
0.77
10.42
0.92
Table 1: Highlight drill intercepts from oriented core diamond drilling at the Willoughby project. Gold equivalent grade calculated using a 70:1 Ag: Au ratio. **True widths are not known at this time. All widths reported are drilled widths.
Hole ID
Easting
Northing
Elev.
Azimuth
Dip
Length
W21-112
6202848
463372
1588
150
-75
8
W21-113
6204205
463520
1845
200
-55
398
W21-114
6204205
463520
1845
235
-65
216
W21-115
6204198
463520
1775
25
-60
203
W21-116
6204198
463520
1775
145
-65
301
W21-117
6202874
463429
1600
70
-65
200
W21-118
6202874
463429
1600
75
-65
200
W21-119
6202874
463429
1600
80
-65
208
W21-120
6202874
463429
1600
85
-65
219
W21-121
6202874
463429
1600
90
-65
201
W21-122
6204284
463475
1812
205
-65
204
W21-123
6204284
463475
1812
210
-55
181.28
W21-124
6204284
463475
1812
210
-45
161
Table 2: Willoughby property drill hole locations and orientations (NAD83 Zone 9)
2021 Porter Silver property drill results
The 2021 drilling program at the Porter Silver property was designed to extend and confirm mineralization identified historically and in 2018 drilling at the D and Prosperity veins. In 2021, 799.1 metres of drilling in six holes were attempted. Due to a staffing shortage and difficult geotechnical conditions consisting of near-surface conjugate joint sets related to glacial unloading and fault zones, both of which caused significant core blocking, only four holes were drilled, none of which adequately tested their intended targets. The number of fractures typically diminishes deeper into the mountain at Porter and elsewhere in the Stewart area. These highly prospective targets adjacent to the historic high-grade silver mines will be tested by drill holes that will be reoriented to be more perpendicular to these prominent joint sets.
Hole-ID
Zone
From (metres)
To (metres)
Length (metres)
Gold (g/t)
Silver (g/t)
PIP21-023
D-vein & Blind
103.00
104.10
1.10
0.03
49.61
PIP21-023A
D-vein & Blind
Abandoned at 37.00 m due to poor ground conditions
PIP21-024
D-vein & Blind
No significant values
PIP21-025
D-vein & Blind
159.50
161.80
2.30
0.05
53.51
161.30
161.80
0.50
0.09
149.00
PIP21-026
Prosperity
65.50
69.00
3.50
0.01
40.66
68.50
69.00
0.50
0.03
137.00
PIP21-027
Prosperity
No significant values
Table 3: Highlight drill intercepts from oriented core diamond drilling at the Porter project **True widths are not known at this time. All widths reported are drilled widths.
Hole ID
Easting
Northing
Elev.
Azimuth
Dip
Length
PIP21-023A
6195962
441782
1598
65
-80
37
PIP21-023
6195962
441782
1598
65
-80
153.1
PIP21-024
6195962
441782
1598
65
-83
255
PIP21-025
6195962
441782
1598
40
-78
215
PIP21-026
6195845
441524
1663
110
-66
80
PIP21-027
6195845
441524
1663
110
-71
59
Table 4: Porter Silver property 2021 drill hole locations and orientations (NAD83 Zone 9N)
Willoughby project
Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the Ascot Resources advanced-staged Red Mountain Deposit. Upper Triassic Stuhini rocks underlie the property and Lower Jurassic Hazelton volcano-sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, like and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain deposit. Structurally controlled and replacement-style mineralized linked with intrusive input consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to date over a one-kilometre strike-length mineralization trend.
Porter project
The Porter Project contains two shears-hosted silver-rich vein systems: the Silverado and Prosperity-Porter Idaho. The showings are 2.35 km apart, located on opposite sides of Mt. Rainey, overlooking the town of Stewart. The Project is located strategically at the head of the Portland Canal, a deep-water port with year-round, ice-free access.
The initial discovery of silver mineralization on Mt. Rainey occurred in the early 1900s. Prosperity-Porter Idaho veins were the focus of the initial work. The mineralization is hosted in six parallel dipping shear zones, traced 200 metres on the surface and one kilometre down dip with widths between 2 and 13 metres. The vein system was mined between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g/t silver (73.8 oz/ton) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). Direct shipping ore was transported to the port at Stewart via aerial tramway.
QA/QC
Samples for the 2021 exploration program were all NQ-sized (47.6 mm diameter) drill core labeled, sawn in half, with one-half placed in sealed bags, and shipped with a chain of custody controls to the laboratory. The remaining drill core is securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of standards, blanks, and duplicates at regular intervals in the sample stream to monitor laboratory performance.
Drill core samples are submitted to the ALS Geochemistry facility in Terrace, British Columbia, for preparation and subsequently to the ALS Geochemistry facility in North Vancouver for analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into a representative sub-sample using a riffle splitter, and subsequently, 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and an upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay with a gravimetric finish. All samples are also analyzed using a 33-element geochemical package utilizing 4-acid digestion and ICP-AES. Samples with silver results of greater than 100ppm are re-analyzed using a 30g fire assay with a gravimetric finish. Samples with copper, lead and zinc values of over 10,000ppm are re-analyzed using a four-acid digestion and an ore-grade ICP-EAS analysis.
Qualified Person
The Qualified Person for this news release for the purposes of National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About StrikePoint
StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced-stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
“Shawn Khunkhun”
Shawn Khunkhun Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
For more information, please contact StrikePoint Gold Inc. Shawn Khunkhun, CEO and Director T: (604) 602-1440 E: sk@strikepointgold.com W: www.strikepointgold.com
Burlington, Ontario–(Newsfile Corp. – March 1, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) provides an update on the timetable for production at its Buckeye Silver Mine near Globe, Arizona and reports assay results.
SBMI’s initial target at the Buckeye is the high-grade polymetallic mineralized drift identified in 1976 by K.C. Delise, in a Mine Shaft Survey dated October 23, 1976 prepared by him for International Resources and Minerals Development Company. He identified this zone as extending approximately 500 feet along strike. He called this area the “Treasure Room”.
SBMI is pleased to announce its field team has blasted through into the Treasure Room, in exactly the location mapped by Mr. Delise. A video of the Treasure Room was taken by SBMI’s field team and can be seen at www.silverbulletmines.com.
“The Treasure Room is one of the most beautiful things I’ve ever seen,” said Ron Murphy, SBMI’s VP, Mining. “I’m not exaggerating. This is where prior mining in 1873 ended when a cave-in took place. Now, with us having blasted in, I can see multiple adits and drifts like a honeycomb.”
The Treasure Room cannot be entered and no samples from the visible veins can be taken until timbering and other structural safety measures are taken. The Company estimates it will take three weeks to complete this work.
Although the Treasure Room itself cannot be entered at this time, samples were taken from what appeared to be mineralized vein material on the floor of the Treasure Room near the newly created entranceway. These samples were run through SBMI’s assay lab and returned values within 24 hours. SBMI reports on those assay results as follows:
GRAB SAMPLES
SAMPLE I.D
Silver
Silver
[oz/ton]
[ppm]
1
14.0
480.2
2
15.2
521.4
3
12.2
418.5
4
13.6
466.5
5
13.8
473.3
6
35.2
1207.4
7
125.0
4287.5
8
20.2
692.9
9
21.2
727.2
Readers are cautioned the sampling results presented above are based on in-house analysis and are not yet verified by a third party independent and accredited laboratory. The Company intends to send samples from the mineralized vein material to such a laboratory as the workings are developed to confirm and verify the grades as the development is advanced. These results will be reported when available. These results are thus preliminary in nature and are used by management to direct its ongoing exploration and development programs at the Buckeye Mine.
“These results are both comforting and highly encouraging,” said A. John Carter, SBMI’s CEO. “They show the accuracy of the historical record and they indicate this is a richly mineralized zone. This is how real value is created for the shareholders.”
As SBMI reported on January 27, 2022, Mr. Delise’s assays from this same area dating from 1976 and 1977 returned spectacularly high values for gold, silver and copper. The highest value for gold was 4.8 oz/ton, for silver was 8,970 oz/ton, and for copper was 30.7%.
In addition to the Treasure Room samples, SBMI’s assay lab is currently processing samples taken from the material stockpiled by SBMI at the millsite. It is expected these samples will be low grade. These assay results will be very important to SBMI because this material will be the initial mill feed. Having the assay results in hand will enable SBMI to calculate potential recovery rates in anticipation of being in continuous pilot plant production with higher-grade material.
At the mill site, assembly and installation continue. Over the past week, the field team installed the grizzly, aligned the ball mill with the feed chute, finetuned the ball mill gear and pinion for maximum efficiency, and built a ramp and a retaining wall. Pictures of the assembly process are available at the Company’s website www.sivlerbulletmines.com and in its Twitter feed @BulletMines.
Management believes the mill will be ready for the initial test feed within four weeks, to be followed by a two-week test period. It is during this period that the low-grade material referred to above will be processed. Assuming no adverse results, the mill will then be put into production at full capacity, which is nameplated for 125 tonnes per day.
QA/QC at SBMI’s Facility
The samples analyzed by SBMI at its facility near Globe, Arizona were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degrees Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab. All sample pulps are retained in secured storage for future independent verification of the Company’s sampling and analysis procedures.
The Qualified Person for this press release is Mr. Ron Wortel, P.Eng., who oversaw all of SBMI’s work referred to herein. Mr. Wortel is also President and a director of the Company.
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.
Location of current drilling along the Appleton Fault Zone.
TORONTO, March 01, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce that it has received a diamond drill permit for the Golden Glove target at its 100% controlled Kingsway project near Gander, Newfoundland. As such, the Company has mobilized a fifth diamond drill to start the drilling as soon as possible. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
Gold mineralization was discovered at Golden Glove during the fall of 2021. The mineralization consists of visible gold in an outcrop of quartz vein hosted in shales. Assays of grab samples from the quartz vein range from 2.99 to 338.08 g/t Au and include assays of 194.28 g/t, 193.69 g/t and 83.61 g/t Au (see News Release dated September 21, 2021). This represented the second discovery of high-grade gold at, or near, surface along the Appleton Fault Zone after Big Vein.
While there are many similarities between the mineralization at Golden Glove and Big Vein, a significant difference is that while Big Vein occurs on the west side of the Appleton Fault, Golden Glove is situated on the East Side. This will be the first drilling on the east side of the fault on the Kingsway Property.
With the addition of the fifth drill rig, LabGold now has five drills on site, two drilling at Big Vein, two drilling at the Pristine Target and the fifth starting soon at Golden Glove (See Figure 1).
“We are very excited about the start of drilling at Golden Glove, not only because of the high-grade samples recovered from the outcrop, but also because we are drilling on the east side of the Appleton Fault Zone,” said Roger Moss, President and CEO of the Company. “We know from results of drilling at New Found Gold’s Queensway Project that the east side of the fault seems to produce higher grade and longer intervals than the west side. This will be LabGold’s first test of mineralization on the east side of the fault and we are keen to see if the same holds true at Kingsway.”
QA/QC
Samples are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $30 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 153,854,110 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Geology of the Iska Iska Caldera Complex showing locations of Major Breccia Pipe targets, the Santa Barbara Resource Definition Target Zone and diamond drill holes completed and planned.
3D Inverse Magnetic Susceptibility Model Showing How Hole DSBU-03 Intersected the Northern tip of this Massive Anomaly that extends to the Southeast from the Santa Barbara area to beneath the Porco area.
Includes higher-grade sections of 401.81 g Ag eq/t (31.46 g Ag/t, 0.19 %Pb and 0.61 %Sn) over 28.58m from 192.72m to 221.30m, 261.83 g Ag eq/t (4.91 g Ag/t and 0.43% Sn) over 95.16m in underground drill hole DSBU-03.
Deeper in this hole, an additional major intersection of 197.61 g Ag /t (1.79 g Ag/t and 0.28% Sn) over 60.50m was encountered from 418.80m to 479.30m.
In order to more aggressively drill this major new extension of the Santa Barbara deposit, a third surface diamond drill is being brought onto site bringing the total operating drills to four (3 surface and 1 underground).
TORONTO, March 01, 2022 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce assay results from an additional diamond drill hole from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Hole DSBU-03, an underground hole drilled due west from the Santa Barbara adit at -50 degrees, has discovered major new depth extensions of the already large Santa Barbara mineralized zones.
The Company has completed 45,779m in 81 drill holes, including three holes in progress as shown in Figure 1. Table 1 lists significant assay results. Prices used for calculating Ag equivalent grades are as outlined in Eloro’s February 1, 2022, press release. Table 2 summarizes drill holes with assays pending. Highlights are as follows:
Underground Metallurgical Hole, Santa Barbara Mineral Resource Target Area
Underground hole DSBU-03, collared in the Santa Barbara adit and drilled at an azimuth of 270 degrees at -50 degrees dip, intersected significant mineralization including substantial tin suggesting proximity to a major intrusive source (Figures 1, 2 and 3 and Table 1):
171.57 g Ag eq/t (12.04 g Ag/t, 0.29% Zn, 0.22% Pb and 0.22% Sn) over 373.40m from 0.00m to 373.40m Including higher-grade sections of 401.81 g Ag eq/t (31.46 g Ag/t, 0.19 %Pb and 0.61 %Sn) over 28.58m from 192.72m to 221.30m and 261.83 g Ag eq/t (4.91 g Ag/t and 0.43% Sn) over 95.16m from 272.27m to 367.41m.
The first higher-grade interval above includes the highest single Sn grade sample yet encountered at Iska Iska at 4.1% Sn over 1.47m.
Deeper in this hole, an additional major intersection of 197.61 g Ag /t (1.79 g Ag/t and 0.28% Sn) over 60.50m was encountered from 418.80m to 479.30m.
This drill hole intersected the northern tip of an extensive 3D inverse magnetic susceptibility anomaly that extends from the Santa Barbara area southeastwards beneath Porco as shown in Figure 3. The southern part of this anomaly in the Porco area may reflect a deeper porphyry Sn intrusion and will be drill tested shortly.
Tom Larsen, CEO of Eloro, commented: “This new underground hole is the longest and highest-grade intersection obtained thus far in our diamond drill program and further highlights the major potential of the Santa Barbara target area to host significant higher-grade mineral resources, especially with tin. In order to more aggressively drill this major new extension of the Santa Barbara deposit, a third surface diamond drill is being brought onto site bringing the total operating drills to four (3 surface and 1 underground).
Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President Exploration, added: “The 3D inverse magnetic susceptibility model is proving to be an important indicator for targeting areas of potential tin mineralization at depth. Work by Dr. Arce and his geological team indicates that in deeper levels tin occurs as cassiterite associated with pyrrhotite which is magnetic. Tin at higher levels is associated with silver, which likely has been remobilized, and generally occurs with pyrite that is non-magnetic.” “In addition to the outstanding drill results, work is moving forward on the metallurgical testing with Blue Coast Research Ltd. We are also working closely with Micon International Limited to develop appropriate parameters for the mineral resource estimation. The bore hole induced polarization program is continuing with additional holes being surveyed to expand our coverage and determine the continuity of mineralization between drill holes. The GeologicAI scanner is expected to be on site and fully operational by the end of March.”
Dr. Osvaldo Arce, P.Geo., General Manager of Eloro’s Bolivian subsidiary Minera Tupiza S.R.L. (“Minera Tupiza”), further commented: “At Iska Iska we are rapidly defining a massive porphyry-epithermal silver-tin polymetallic mineralized system. The grade and extent of tin mineralization increases considerably with depth which is typical of the deeper parts of tin porphyries in Bolivia. Superimposed on this extensive tin porphyry system is a higher-level silver-zinc-lead epithermal mineralized system that is principally hosted in the major breccia pipes and intensely fractured dacitic domes surrounding these breccia pipes.”
“The entire package has been subjected to later deformation and remobilization which has substantially altered many of the primary relationships. The southern area of Santa Barbara where we already have two impressive holes with 300m+ long intersections and southeast to the Porco area appears to be the potential centre of the porphyry-epithermal system. We are now on our 81st hole and all holes reported to date have multiple reportable intersections, which is remarkable. The system remains open along strike to the northwest and to the southeast. Geological mapping and diamond drilling suggest that the potential strike length of the entire system may be as much as 4km, the width up to 2km, with a depth extent of 1km or more.”
Table 1: Significant Results, Diamond Drilling, Santa Barbara Resource Definition Target Area as at March 1, 2022.
SANTA BARBARA RESOURCE DEFINITION TARGET ZONE
UNDERGROUND DRILL HOLE
Hole No.
From (m)
To (m)
Length (m)
Ag
Au
Zn
Pb
Cu
Sn
Bi
Cd
Ag eq
g/t
g/t
%
%
%
%
%
%
g/t
DSBU-03
0.00
373.38
373.40
12.04
0.06
0.29
0.22
0.03
0.22
0.003
0.007
171.57
Incl.
192.72
221.3
28.58
31.46
0.05
0.01
0.19
0.02
0.61
0.003
0.005
401.81
Incl.
272.27
367.41
95.16
4.91
0.01
0.01
0.02
0.01
0.43
0.001
0.005
261.83
391.22
395.83
4.61
1.00
0.01
0.01
0.02
0.01
0.16
0.001
0.005
98.99
418.80
479.3
60.50
1.79
0.05
0.02
0.06
0.09
0.28
0.083
0.005
197.61
493.11
494.61
1.50
3.00
0.45
0.01
0.00
0.01
0.15
0.001
0.005
129.35
514.30
515.72
1.42
8.00
0.21
0.01
0.10
0.07
0.11
0.034
0.005
110.16
520.24
524.76
4.53
3.67
0.02
0.00
0.01
0.11
0.09
0.027
0.005
79.57
547.40
560.85
13.45
4.57
0.10
0.01
0.03
0.12
0.05
0.045
0.005
69.80
578.90
581.83
2.93
1.50
0.26
0.01
0.00
0.08
0.03
0.001
0.005
54.94
599.90
601.45
1.55
3.00
0.78
0.01
0.02
0.10
0.09
0.029
0.005
139.37
614.97
617.97
3.00
1.97
0.04
0.01
0.02
0.51
0.07
0.009
0.005
115.65
625.41
631.41
6.00
1.00
0.04
0.01
0.03
0.40
0.00
0.001
0.005
61.52
Note: True width of the mineralization is not known at the present time, but based on the current understanding of the relationship between drill orientation/inclination and the mineralization within the breccia pipes and the host rocks such as sandstones and dacites, it is estimated that true width ranges between 70% and 90% of the down hole interval length but this will be confirmed by further drilling and geological modelling.
Chemical symbols: Ag= silver, Au = gold, Zn = zinc, Pb = lead, Cu = copper, Sn = tin, Bi = bismuth, Cd = cadmium and g Ag eq/t = grams silver equivalent per tonne. Quantities are given in percent (%) for Zn, Pb Cu, Sn, Bi and Cd and in grams per tonne (g/t) for Ag, Au and Ag eq.
Metal prices and conversion factors used for calculation of g Ag eq/t (grams Ag per grams x metal ratio) are as follows (Prices updated as of February 1, 2022, to more accurately reflect current metal prices):
Element
Price $US (per kg)
Ratio to Ag
Ag
$722.56
1.0000
Sn
$42.56
0.0589
Zn
$3.30
0.0046
Pb
$2.33
0.0032
Au
$57,604.00
79.7221
Cu
$9.68
0.0134
Bi
$12.76
0.0177
Cd
$5.50
0.0076
In calculating the intersections reported in this press release a sample cutoff of 30 g Ag eq/t was used with generally a maximum dilution of 3 continuous samples below cutoff included within a mineralized section unless more dilution is justified geologically.
The equivalent grade calculations are based on the stated metal prices and are provided for comparative purposes only, due to the polymetallic nature of the deposit. Metallurgical tests are in progress by Blue Coast Ltd. to establish levels of recovery for each element reported but currently the potential recovery for each element has not yet been established. While there is no assurance that all or any of the reported concentrations of metals will be recoverable, Bolivia has a long history of successfully mining and processing similar polymetallic deposits which is well documented in the landmark volume “Yacimientos Metaliferos de Bolivia” by Dr. Osvaldo R. Arce Burgoa, P.Geo.
Table 2: Summary of Diamond Drill Holes Completed with Assays Pending and Drill Holes in Progress at Iska Iska from March 1, 2022 press release.
Hole No.
Type
Collar Easting
Collar Northing
Elev
Azimuth
Angle
Hole Length m
Surface Drilling Northwest Extension Santa Barbara
DSB-14
S
205283.0
7656587.2
4175.0
225
-65
968.5
DSB-16
S
204973.1
7657053.8
4165.0
225
-65
862.0
DSB-17
S
7656765.4
205131.3
4173.0
225
-40
841.0
DSB-18
S
7656676.3
205207.1
4175.0
225
-40
890.4
DSB-19
S
7656676.3
205207.1
4175.0
225
-65
803.3
DSB-22
S
7657208.4
204799.4
4145.0
225
-40
258.4
DSB-23
S
205341.0
7656535.0
4177.0
225
-40
661.3
DSB-24
S
205341.0
7656535.0
4177.0
225
-65
343.4
DSB-25
S
205283.0
7656587.2
4175.0
225
-40
615.3
DSB-26
S
205044.5
7656982.6
4150.0
225
-40
815.4
DSB-27
S
205044.5
7656982.6
4150.0
225
-65
800.4
Subtotal
7859.4
Underground Drilling Santa Barbara Adit
DSBU-4
UG
205285.2
7656074.8
4165.0
180
-20
570.0
DSBU-5
UG
205285.2
7656074.8
4165.0
0
-40
491.7
DSBU-6
UG
205285.2
7656074.8
4165.0
0
-65
253.5
DSBU-7
UG
205284.5
7656080.0
4167.1
235
-50
800.9
Subtotal
2116.1
DSBU-8
UG
205284.5
7656080.0
4167.1
200
-50
In progress
Underground Metallurgical Drill Holes Santa Barbara
METSBU-01
UG
205285.2
7656074.8
4165.0
10
-35
351.0
Subtotal
351.0
Surface Drilling South Extension Santa Barbara
DSBS-01
S
205300.0
7655563.0
4204.0
30°
-30
700.8
Subtotal
700.8
DSBS-02
S
205300.0
7655563.0
4204.0
0°
-45
In progress
Porco Target Area – Surface Drill Program
DPC-04
S
205457.2
7655110.9
4175.0
0
-60
371.4
DPC-05
S
205457.2
7655110.9
4175.0
90
-60
407.5
DPC-06
S
205457.2
7655110.9
4175.0
243
-60
716.4
DPC-08
S
205456.2
7655113.4
4175.9
243
-60
800.4
Subtotal
2295.7
DPC-07
S
205090.0
7655343.7
4310.0
235
-65
In progress
TOTAL
13,323
S = Surface UG=Underground; collar coordinates in metres; azimuth and dip in degrees. Total drilling completed since the start of the program on September 13, 2020 to December 17, 2021 is 40,468 m in 73 holes (26 underground holes and 47 surface holes). From re-start of drilling on January 17, 2022, an additional 5,311m has been completed bringing the overall total to 45,779m in 81 drill holes (27 underground drill holes and 54 surface drill holes) including 3 holes in progress.
Dr. Osvaldo Arce, P. Geo., General Manager of Minera Tupiza, and a Qualified Person in the context of NI 43-101, has reviewed and approved the technical content of this news release. Dr. Bill Pearson, P.Geo., Executive Vice President Exploration Eloro, and who has more than 45 years of worldwide mining exploration experience including extensive work in South America, manages the overall technical program working closely with Dr. Osvaldo Arce, P.Geo., Manager of Minera Tupiza. Dr. Quinton Hennigh, P.Geo., Senior Technical Advisor to Eloro and Independent Technical Advisor, Mr. Charley Murahwi P. Geo., FAusIMM of Micon International Limited are regularly consulted on technical aspects of the project.
The magnetic survey was carried out by MES Geophysics using a GEM Systems GSM-19W Overhauser magnetometer. Dr. Chris Hale, P.Geo. and Mr. John Gilliatt, P.Geo. of Intelligent Exploration provided the survey design, preparation of the maps and interpretation from data processed and quality reviewed by Rob McKeown, P. Geo. of MES Geophysics. Messrs. Hale, Gilliatt and McKeown are Qualified Persons as defined under NI 43-101 Mr. Joe Mihelcic, P.Eng., P.Geo., a QP under NI 43-101, of Clearview Geophysics completed the 3D magnetic inversion model in consultation with Dr. Chris Hale, P.Geo. and Mr. John Gilliatt, P.Geo. of Intelligent Exploration.
Eloro is utilizing both ALS and AHK for drill core analysis, both of whom are major international accredited laboratories. Drill samples sent to ALS are prepared in both ALS Bolivia Ltda’s preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with pulps sent to the main ALS Global laboratory in Lima for analysis. More recently Eloro has had ALS send pulps to their laboratory at Galway in Ireland. Eloro employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed with selected check samples sent to a separate accredited laboratory.
Drill core samples sent to AHK Laboratories are prepared in a preparation facility installed and managed by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru. Au and Sn analysis on these samples is done by ALS Bolivia Ltda in Lima. Check samples between ALS and AHK are regularly done as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols. Turnaround time continues to improve and it is hoped that most of the sample backlog will be cleared in the next 4-6 weeks.
About Iska Iska
Iska Iska silver-tin polymetallic project is a road accessible, royalty-free property, wholly controlled by the Title Holder, Empresa Minera Villegas S.R.L. and is located 48 km north of Tupiza city, in the Sud Chichas Province of the Department of Potosi in southern Bolivia. Eloro has an option to earn a 99% interest in Iska Iska.
Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex associated with a Miocene possibly collapsed/resurgent caldera, emplaced on Ordovician age rocks with major breccia pipes, dacitic domes and hydrothermal breccias. The caldera is 1.6km by 1.8km in dimension with a vertical extent of at least 1km. Mineralization age is similar to Cerro Rico de Potosí and other major deposits such as San Vicente, Chorolque, Tasna and Tatasi located in the same geological trend.
Eloro began underground diamond drilling from the Huayra Kasa underground workings at Iska Iska on September 13, 2020. On November 18, 2020, Eloro announced the discovery of a significant breccia pipe with extensive silver polymetallic mineralization just east of the Huayra Kasa underground workings and a high-grade gold-bismuth zone in the underground workings. On November 24, 2020, Eloro announced the discovery of the SBBP approximately 150m southwest of the Huayra Kasa underground workings.
Subsequently, on January 26, 2021, Eloro announced significant results from the first drilling at the SBBP including the discovery hole DHK-15 which returned 129.60 g Ag eq/t over 257.5m (29.53g Ag/t, 0.078g Au/t, 1.45%Zn, 0.59%Pb, 0.080%Cu, 0.056%Sn, 0.0022%In and 0.0064% Bi from 0.0m to 257.5m. Subsequent drilling has confirmed significant values of Ag-Sn polymetallic mineralization in the SBBP and the adjacent CBP. A substantive mineralized envelope which is open along strike and down-dip extends around both major breccia pipes. Continuous channel sampling of the Santa Barbara Adit located to the east of SBBP returned 442 g Ag eq/t (164.96 g Ag/t, 0.46%Sn, 3.46% Pb and 0.14% Cu) over 166m including 1,092 g Ag eq/t (446 g Ag/t, 9.03% Pb and 1.16% Sn) over 56.19m. The west end of the adit intersects the end of the SBBP.
Since the initial discovery hole, Eloro has released a number of significant drill results in the SBBP and the surrounding mineralized envelope which along with geophysical data has defined a target zone 1400m along strike, 500m wide and that extends to a depth of 600m. This zone is open along strike to the northwest and southeast as well as to the southwest. The Company’s nearer term objective is to outline a maiden NI 43-101 compliant mineral resource within this large target area. This work is advancing well with the mineral resource targeted to be completed in Q2 2022. Exploration drilling is also planned on other major targets in the Iska Iska Caldera Complex including the Porco and Mina 2 areas.
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. 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.
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