Category: Junior Mining

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Junior Mining

Labrador Gold Intersects 50.52 g/t Gold Over 2 Metres at Kingsway

Figure 1

Big Vein Plan Map
Big Vein Plan Map
Big Vein Plan Map

Figure 2

Long section of the HTC Zone
Long section of the HTC Zone
Long section of the HTC Zone

TORONTO, Jan. 12, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization along the Appleton Fault Zone at its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s ongoing 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

High grade gold continues to be found at Big Vein including intercepts of 50.52 g/t Au over 2m in hole K-21-76 from the HTC Footwall Zone. A deeper (200m to 201m) intercept of 15.86 g/t Au over 1 m from the same hole appears to be from a new zone. Approximately 135 metres along strike to the southwest, Hole K-21-74 intersected 2.86 g/t Au over 25m including 16.21g/t Au over 1m and 5.7g/t over 7m in a possible new zone in the immediate footwall to the Big Vein Zone. Testing further to the Southwest along Big Vein indicates consistent increased width of mineralization in the Big Vein zone as shown here by Hole K-21-75, that intersected 3.33 g/t Au over 4m within a larger intercept of 12m grading 1.62 g/t Au from 28m.

“Drilling at Big Vein continues to turn up high grade gold mineralization both down plunge and along strike. Two potential new zones are indicated by these results and grade 15.86 g/t Au over 1m in Hole K-21-76 and 16.21 g/t Au over 1m within a larger 29m interval in hole K-21-74 located 135m along strike to the southwest,” said Roger Moss, President and CEO of the Company. “We are very encouraged by the thickening of the Big Vein Zone to the southwest and look forward to results from many more holes drilled in this area. Drilling continues along strike to the southwest and down plunge at Big Vein. Drilling is also ongoing at the Pristine Target from which we are still awaiting the first assays.”

Hole IDFrom (m)To (m)Width (m)Au (g/t)Zone
K-21-76242511.1Big Vein
132143111.44
175177250.52HTC Footwall
18319291.28
19920128.91
including200201115.86New Zone
K-21-75131413.15Big Vein
2840121.62
including283243.33
K-21-74686918.98Big Vein
202227252.86New Zone
including202203116.21
and20721142.63
and21422175.7
K-21-737688121.09Big Vein
K-21-68676811.72Big Vein
21121543.4HTC
K-21-667921.16Big Vein
141621.45
181911.3
3848101.65
818211.5
21021114.43HTC

Table 1. Summary of Assay Results
All intersections are downhole length as there is insufficient Information to calculate true width.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/35ca1eb1-410a-4400-8f1f-6ad6f95584b1
https://www.globenewswire.com/NewsRoom/AttachmentNg/d32a1500-62b5-464c-bfd7-6aa35986e246
Hole IDEastingNorthingElevationAzimuthInclinationDepth (m)
K-21-76661574.35435213.940.310264225.66
K-21-75661435.55435096.140.014545185
K-21-74661442.45435186.650.513050329
K-21-73661436.25435096.739.916572272
K-21-68661442.05435186.750.513055377
K-21-66661435.55435096.140.016555305

Table 2. Drill hole collar details

Big Vein target

The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined, with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes visible gold in quartz veins, assays of samples from which range from 1.87g/t to 1,065g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits. Drilling has produced high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.

The ongoing 50,000 metre drill program has now tested Big Vein over approximately 250 metres of strike length and to vertical depths of 200 metres. A total of 26,767 metres of the 50,000 metres have been completed in 116 holes primarily at Big Vein. Drilling at the new “Pristine” target began in November and nine holes totaling 2,229 metres have been drilled to date. Assays have been received for 59% of samples submitted to the laboratory or approximately 15,800 metres of core.

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ and NQ split core 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.

Qualified Person

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 153,711,033 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter @LabGoldCorp

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.

Categories
Base Metals Junior Mining Precious Metals

Granite Creek Copper to Join Metallic Group of Companies for Live Webinar

VANCOUVER, BC / ACCESSWIRE / January 11, 2022 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce that the Company will join fellow members of the Metallic Group of Companies for a live webinar on January 13, 2022 at 10:00 am PT (1:00 pm ET). The CEOs of Granite Creek Copper, Group Ten Metals and Metallic Minerals will provide a concise review of key milestones achieved in 2021, followed by an update on major catalysts expected in 2022. The event will conclude with a roundtable Q&A session during which participants will be invited to provide questions to Tim Johnson (Granite Creek), Michael Rowley (Group Ten) and Greg Johnson (Metallic Minerals).

To register for the webinar, click here or on the graphic below.

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 Metals Corp., to the north, and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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

SOURCE: Granite Creek Copper Ltd.

Categories
Junior Mining Precious Metals

Silver Bullet Mines Corp. Provides Pilot Plant Construction Update

Burlington, Ontario–(Newsfile Corp. – January 5, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) is very pleased to provide an update on the construction of its modular pilot plant in Arizona.

The plant is wholly-owned by SBMI and is intended upon completion to process up to 125 metric tonnes of material per day. It is of modular design capable of being expanded in size and modified as required. The plant is being constructed on SBMI-owned private property approximately 8 miles from Globe, Arizona and in proximity to its Buckeye Silver Mine. As per the flow chart below, the plant is state of the art.



Pilot Plant Flow Chart

To view an enhanced version of this chart, please visit:
https://orders.newsfilecorp.com/files/8464/109102_c6fcca31a4499a73_001full.jpg

“The leadership team at SBMI has a substantial equity position so we like all shareholders are thrilled to see the plant be built as designed,” said A. John Carter, the Company’s CEO. “Despite ongoing supply chain issues and exorbitant material and transportation cost increases, we remain on track to start commissioning in the first quarter of 2022. In anticipation of that commissioning, the Company has approximately 1000 tonnes of material already stockpiled for feed.”

The plant consists of a coarse ore feed bin, a fine ore bin, two stage crushing and screening, and a variable speed computer-controlled feed belt that leads to a grinding circuit. The grinding circuit is a ball mill in closed circuit with a bank of cyclones. The plan is for product from the ball mill to be pumped directly to a pair of Falcon concentrators. The product from the concentrators is then fed by gravity to a full size Diester concentrating table. Tailings from the Falcons and from the table are returned to the grinding circuit.

The cyclones then split the feed with the oversize material going back to the ball mill and the undersize material going to the tailings thickener. Processed material of the appropriate size is then sent to the bullion furnace where dore bars are poured. All tailings are dewatered and all available water is recycled.



The ball mill as installed, on the mill pad poured by SBMI for this purpose.

To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/8464/109102_c6fcca31a4499a73_002full.jpg

The plant is designed to maximize the recovery of both gold and silver, although its modular nature means it can be adjusted to recover other metals.

Currently over 90% of the necessary equipment is onsite and being assembled (go to www.silverbulletmines.com to see pictures of the plant being built, or follow on Twitter @BulletMines). The remainder is in a container in Long Beach, California waiting to be off-loaded, on a timeline beyond the Company’s control. Some small items are to be purchased as required.



Overview of SBMI’s mill site, showing the fine and coarse ore bins on the right, the ball mill in the middle, and assorted equipment to the left.

To view an enhanced version of this graphic, please visit:
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In addition to owning its own processing plant, SBMI owns an on-site assay facility which can provide assay results in less than a day. It also owns its own 2-boom jumbo, LHD (load-haul-dump), large Bobcat, and various other equipment. Owning all this equipment will allow the Company to process feed material quickly, efficiently and economically, as well as to generate revenue, without debt payments draining cash. The Company is in discussions with various groups concerning the purchase of both the dore and the concentrates.

Finally, SBMI announces it does not intend to spend capital on a third party resource estimate or Preliminary Economic Analysis for the Buckeye Silver Mine. In the Company’s opinion, given the nature of the known mineralization, the extensive historical third-party documentation, and the leadership team’s direct experience at Buckeye, a third party resource estimate or PEA would be prohibitively expensive to have written without actually advancing the Company’s knowledge of the Buckeye. “This is old school mining,” continued Mr. Carter, “and for this project it’s the right way. Producing from 6-foot wide silver veins is not your standard mining opportunity, which means it requires a non-standard approach. Here, we believe the right approach is to carry out our own internal economic analysis.”

The next major events at Buckeye will be the arrival on-site of the third container through the Long Beach supply chain, and the delivery of assay results from a third party accredited lab on one-quarter of the 150 pound bulk sample announced December 15, 2021. The Company has no direct control over the timing of either of those events but does continue to work with its suppliers to expedite them a much as possible.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109102

Categories
Base Metals Energy Junior Mining

Appointment of Investor Relations and Market Making Services for TSXV

Perth, Australia –News Direct– Hot Chili Limited

Hot Chili Limited. (ASX: HCH) (TSXV:HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce that it has entered into a consulting agreement (“agreement”) with Harbor Access LLC (“Harbor Access” or “Harbor”) to provide investor relations consulting service to the Company in compliance with the policies and guidelines of the TSX Venture Exchange (the “TSXV”) and applicable legislation.

Harbor Access will provide investor relations and consulting services to the Company effective January 1, 2022. Under the terms of the agreement, Harbor will receive USD$10,000 per month from the Company for an initial term of 12 months and is subject to extension by mutual agreement. Harbor Access does not control any common shares in the Company.

Harbor Access is a strategic investor relations advisory firm with offices in Stamford, Connecticut and Toronto, Ontario. With over 100 years of collective capital markets experience, Harbor specializes in working with small and mid-cap companies that are looking to build, support or expand their existing investor relations strategy and capabilities.

“As copper continues to gain attention from North American investors, so too will Hot Chili’s large scale copper development projects in the mining friendly country of Chile. We are excited to work with Christian Easterday and the entire Hot Chili team as 2022 is shaping up to be a transformative year for the Company.” Stated Jonathan Paterson, Managing Partner of Harbor Access.

Additionally, Hot Chili is pleased to announce that, subject to regulatory approval, it has engaged the services of Independent Trading Group (“ITG”) to provide market-making services in accordance with TSX Venture Exchange (“TSXV”) policies. ITG will trade shares of the Company on the TSXV and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company’s common shares.

Under the agreement, ITG will receive compensation of CAD$7,500 per month, payable monthly in advance. The agreement is for an initial term of three months and will renew for additional one-month terms unless terminated. The agreement may be terminated by either party with 30 days’ notice. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

ITG is Canada’s only brokerage firm dedicated specifically to professional trading. As Canada’s foremost Market Making Firm, ITG provides Market Making and Liquidity Provider services that are objective and focused. With its head office in Toronto, ITG employs real traders and provides real liquidity, with an underlying emphasis on integrity and success.

This announcement is authorised by the Board of Directors for release to ASX and TSX Venture Exchange.

About Hot Chili Ltd

Hot Chili Limited is a mineral exploration company with assets in Chile. Their flagship project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper-gold discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location – low altitude, coastal range of Chile, infrastructure rich, low capital intensity.The Costa Fuego landholdings, contains an Indicated Resource of 391Mt grading 0.52% CuEq (copper equivalent), containing 1.7 Mt Cu, 1.5 Moz Au, 4.2 Moz Ag, and 37 kt Mo and an Inferred Resource of 334Mt grading 0.44% CuEq containing 1.2Mt Cu, 1.2 Moz Au, 5.6 Moz Ag and 27 kt Mo, at a cut-off grade of 0.25% CuEq.The Company is working to advance its Costa Fuego Project through a preliminary feasibility study (followed by a full FS and DTM), and test several high-priority exploration targets.

Qualifying Statements

Forward Looking Statements

Certain statements contained in this news release, including information as to the future financial or operating performance of Hot Chili and its projects may include statements that are “forward‐looking statements” which may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, and capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Hot Chili, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.

Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this news release or to reflect the occurrence of unanticipated events, other than as may be required by law. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward‐looking statements.

All forward‐looking statements made in this news release are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not a guarantee of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.

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 news release.

Contact Details

Hot Chili Ltd

Christian Easterday, CEO

+61 8 9315 9009

admin@hotchili.net.au

Investor Relations – Canada

Graham Farrell

+1 416-842-9003

Graham.Farrell@HarborAccessllc.com

Investor Relations – US & Europe

Jonathan Paterson

+1 475-477-9401

Jonathan.Paterson@HarborAccessllc.com

Company Website

https://www.hotchili.net.au/investors/

View source version on newsdirect.com: https://newsdirect.com/news/appointment-of-investor-relations-and-market-making-services-for-tsxv-687337006

Categories
Base Metals Energy Junior Mining

Hot Chile | Appointment of New Camadian Director

Perth, Australia –News Direct– Hot Chili Limited

Hot Chili Limited (ASX: HCH) (TSXV:HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to announce the appointment of experienced mining and global capital markets professional, Dr Nicole Adshead-Bell, to the Board of Hot Chili. The appointment coincides with the Company’s successful Canadian dual-listing on the TSX Venture Exchange on 4th January, and remains subject to approval by the TSX Venture Exchange.

Dr Nicole Adshead-Bell is a geologist with a deep understanding of the mining industry from over 25 years bridging the gap between the technical, corporate (executive and non-executive director), institutional investor and investment banking segments of the business – within an ESG framework.

Nicole resides in Canada and is currently a non-executive director of Altius Minerals Corp. (TSX) and Matador Mining Ltd (ASX). Her career includes Managing Director and CEO of ASX-listed Brazilian gold producer Beadell Resources Ltd (prior to its acquisition by TSX/NYSE American listed Great Panther Mining Ltd); Director of Mining Research at Sun Valley Gold LLC (SEC registered precious metals focused fund); Managing Director, Investment Banking, Haywood Securities Inc. (Canadian independent investment dealer) and Mining Analyst covering copper, zinc and uranium commodities and companies at Dundee Securities Corp. (former Canadian independent investment dealer). While at Haywood she was involved in approximately 20 public transactions including streaming, mergers, acquisitions and divestures and raising approximately C$1.8Bn in equity/convertible debenture financings.

More recently she established Cupel Advisory Corp. to focus on investments and advisory services in the mining sector. Over the past 10 years Nicole has held directorships with several public companies including First Majestic Silver Corp. (TSX/NYSE), Pretium Resources Inc. (TSX/NYSE) and Dalradian Resources Inc. (TSXV, acquired by Orion Mine Finance in 2018).

Dr Adshead-Bell has PhD in structural/economic geology from James Cook University, Townsville, Australia where she also completed her geology undergraduate and honours degrees.

The Directors welcome Nicole’s appointment to the Board of Hot Chili and look forward to the addition of her strong skillset and experience following the Company’s successful Canadian dual-listing.

This announcement is authorised by the Board of Directors for release to ASX and TSX Venture Exchange.

About Hot Chili

Hot Chili Limited is a mineral exploration company with assets in Chile. The Company’s flagship project, Costa Fuego, is the consolidation into a hub of the Cortadera porphyry copper-gold discovery and the Productora copper-gold deposit, set 14 km apart in an excellent location – low altitude, coastal range of Chile, infrastructure rich, low capital intensity.The Costa Fuego landholdings, contains an Indicated Resource of 391Mt grading 0.52% CuEq (copper equivalent), containing 1.7 Mt Cu, 1.5 Moz Au, 4.2 Moz Ag, and 37 kt Mo and an Inferred Resource of 334Mt grading 0.44% CuEq containing 1.2Mt Cu, 1.2 Moz Au, 5.6 Moz Ag and 27 kt Mo, at a cut-off grade of 0.25% CuEq.The Company is working to advance its Costa Fuego Project through a preliminary feasibility study (followed by a full FS and DTM), and test several high-priority exploration targets.

Qualifiying Statements

Forwad Looking statements

Certain statements contained in this news release, including information as to the future financial or operating performance of Hot Chili and its projects may include statements that are “forward‐looking statements” which may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, and capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions.These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Hot Chili, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward‐looking statements.

Hot Chili disclaims any intent or obligation to update publicly or release any revisions to any forward‐looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this news release or to reflect the occurrence of unanticipated events, other than as may be required by law. The words “believe”, “expect”, “anticipate”, “indicate”, “contemplate”, “target”, “plan”, “intends”, “continue”, “budget”, “estimate”, “may”, “will”, “schedule” and similar expressions identify forward‐looking statements.

All forward‐looking statements made in this news release are qualified by the foregoing cautionary statements. Investors are cautioned that forward‐looking statements are not a guarantee of future performance and accordingly investors are cautioned not to put undue reliance on forward‐looking statements due to the inherent uncertainty therein.

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 news release.

Contact Details

Hot Chili Limited

Christian Easterday, CEO

+61 8 9315 9009

admin@hotchili.net.au

Investor Relations – Canada

Graham Farrell

+1 416-842-9003

Graham.Farrell@HarborAccessllc.com

Investor Relatons – US & Europe

Jonathan Paterson

+1 475-477-9401

Jonathan.Paterson@HarborAccessllc.com

Company Website

https://www.hotchili.net.au/investors/

View source version on newsdirect.com: https://newsdirect.com/news/appointment-of-new-canadian-director-248334222

Categories
Base Metals Junior Mining Project Generators

Riverside Reports High Grade Sample Results with 2.6 oz/t Gold and 150 oz/t Silver at La Union Project, Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – January 5, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report high grade surface sample assay results from its most recent field exploration program at La Union Project in Sonora, Mexico. After completing a claim consolidation in September, Riverside conducted a follow up field mapping and sampling program of 103 samples with the best sample returning 83.2 g/t (2.6 oz/t) gold and 4,816 g/t (150 oz/t) silver. The work further enhanced Riverside’s understanding of the structural and lithological context by linking the small historical workings into a larger regional context. Although the Project is still in its initial stages, mineralization appears to be of manto-chimney and replacement type within Pre-Cambrian to Cambrian sedimentary rocks (see Figure 1).



Figure 1: Interpretative schematic cross section of the Plomito target in the Union-Famosa corridor showing stratigraphic column with interpretative mineralization relationship.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/109082_34f4e158144e3bc0_002full.jpg

Previous sampling this year by Riverside returned high grade gold assays up to 59.4 g/t Au from dump materials and surface sampling (see press release October 6, 2021). Following-up on this high-grade discovery Riverside’s team returned and was able to define the extent of the mineralization. The highlights of this latest work defined high grade polymetallic samples up to 30% Zn, 83.2 g/t Au, 4,816 g/t Ag, 10.3% Pb (see Table 1). Of the 103 samples assay value ranged from 83.3 g/t gold to non-detectable with about 30% of the samples returning significant values in gold, silver, lead and/or zinc the best being.

  • Au – high: 83.2 g/t; low cut-off: 0.5 g/t
  • Ag – high: 4,816 g/t; low cut-off: 300 g/t
  • Pb – high: 10.3%; low cut-off: 0.1%
  • Zn – high: 30%*; low cut-off: 0.1%

*30% Zn is the upper detection limit in analysis method performed

Table 1: Assays from La Union Polymetallic Project. Results from November 2021 program



Note: Best 13 assays from 103 samples collected.

To view an enhanced version of Table 1, please visit:
https://orders.newsfilecorp.com/files/6101/109082_table1.jpg

Riverside’s President and CEO, John-Mark Staude: “Our surface sampling results continue to return tremendous gold, silver and zinc grades at La Union. We recently expanded the property package here to more than 26 km2 and our ongoing field work is expected to include a geophysical survey and additional mapping and sampling while we advance permitting in tandem with preparation for a maiden drill program in 2022.”

Geological Setting:



Figure 2: Geological map of the Union Project highlighting the two zones of El Plomito and the Union-Famosa Corridor.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/109082_34f4e158144e3bc0_004full.jpg

Geological Environment

The La Union Project is part of the El Viejo Mountain range of NW Sonora, Mexico. The Sierra El Viejo comprises a thick sequence of Pre-Cambrian to Cambrian sedimentary units which the Company has been carefully mapping in detail. Many historical workings are spread across the range with the most extensive being the Union Mine, La Famosa Mine and El Plomito Mine; all located along the southern tip of the El Viejo range within Riverside’s mineral concessions.

Three sedimentary units have been identified from top to bottom: black limestone, quartzite, and grey limestone. Thicknesses of these units vary from 150 to 250 m with folding occurring mostly within the grey limestone, which is believed to be the primary reactive layer responsible for mineral deposition (see Figure 1). As a weaker unit the grey limestone is prone to low angle thrusting while the quartzite units are more brittle and tend to fracture.

Post-mineral faulting also plays an important role. The west side of the property at the Plomito mine target area is separated from the Union-Famosa corridor target by a 3 km-wide colluvium-filled N-S trending graben. The geology at the Plomito Mine shows many similarities to the eastern side of the range at Union-Famosa where grey limestone with a small window of quartzite is mapped. Low angle faulting is also present in the area and tends to be mineralized showing carbonate replacement and patchy marble zones. Historical workings are scattered across the property and tend to follow the low angle oxidized structures varying from centimeters to metres in width.

Geochemistry shows an overall similar pattern across the property, with the dominant geochemical signature being polymetallic Pb-Ag-Zn-As-Cu-Sb-Au. Secondary Au-As association is recognized which suggests another hydrothermal event spatially associated with the dominant polymetallic event.

Mineralization is found on surface associated with low angle faults, folds, with the thicker mineralized intervals being where high angle fault intersect with other structures creating ‘traps’. GIS compilation of Riverside’s work and older data is showing a tendency for thicker mineralized zones to occur within the stratigraphy defined ‘grey limestone’ (see Figures 1 & 2) where replacement and crack infilling is noted.

Riverside is currently planning future exploration work, which will include a geophysical survey to better identify the depth and behavior of mineralization within the grey limestone unit and the structural nature of the lower part of the sedimentary sequence. The next stage in exploration will be to compile the proposed geophysics with the existing information to identify drill targets for a 2022 program.

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

Rock samples from the exploration program discussed above at La Union were shipped to the Bureau Veritas Laboratories in Hermosillo, Mexico for ICP and fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis and Aqua Regia total Hg analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream every 20 to 30 samples prior to being sent to the laboratory for analysis.

About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has no debt and approximately 71M shares outstanding with a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

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

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/109082

Categories
Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Identifies New Gold and Cobalt Targets on Australian Projects

Vancouver, British Columbia–(Newsfile Corp. – January 4, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce results from recently completed geochemical surveys at EMX’s 100% owned Mt Steadman and Yarrol gold projects in central Queensland, Australia. Numerous gold-in-soil anomalies have been identified by surveys conducted on both projects, with several anomalies extending to the edges of the survey grids, meaning that they remain open for expansion. A total of 895 samples were collected, with results including 2.17 ppm gold in a new target area at Mt Steadman. Results from the Yarrol project also delineated several robust gold-in-soil anomalies, as well as a new target area with high levels of cobalt and nickel in rock chip samples. These results highlight the additional exploration potential of both projects.

EMX will continue executing exploration programs on both projects in the coming year, and both projects are currently available for partnership.

Mt Steadman Project. The 5,700 hectare Mt Steadman project is an intrusion-related gold system (“IRGS”) in the New England Orogenic Belt in Queensland, Australia, a province that hosts IRGS-type gold, porphyry and epithermal deposits. Mt Steadman is located along the Perry Fault system, a major structural feature in the area (see Figure 1). The Mt Steadman project was the focus of exploration in the 1990’s when shallow reconnaissance drilling programs led to the recognition and definition of historical gold resources. However little exploration has taken place since (see EMX News Release dated April 26, 2021).

In Q3 and Q4 2021, EMX conducted a broad soil geochemical survey to the north of the Fitzroy historical resource (see Figure 2). A total of 351 samples were collected on 200 meter and 400 meter spaced traverses with samples collected every 50 meters along each line. This program resulted in the delineation of multiple anomalous gold-in-soil trends. The most prominent anomaly extends for 400 meters along trend and reaches a maximum width of 200 meters at its northern extent. The anomaly remains open to the north and includes a sample of 2.17 ppm gold. This new soil anomaly is similar in scale and tenor to those around the historic Fitzroy prospect located 1km to the southeast. This anomaly also exhibits coincident anomalous molybdenum and tellurium geochemistry, similar to geochemical signatures seen at Fitzroy, and closely correlates with the mapped extent of a zone of hydrothermal breccias, quartz veining and alteration.

Yarrol Project. The 17,500 hectare Yarrol project is located between EMX’s Queensland Gold royalty property and Evolution Mining’s Mt Rawdon gold mine, and is positioned along the regional scale Yarrol Fault. Several other historical mines and active exploration projects lie along the Yarrol Fault structural trend. EMX’s Yarrol Project was the site of historical mining activities from the late 1800’s through the 1930’s. Further exploration carried out in the 1980’s and 1990’s led to the definition of two historical gold resources on the Yarrol Project, but little exploration activity has taken place since that time (see EMX news release dated April 26, 2021).

EMX’s 2021 programs at Yarrol included the collection of 544 soil samples, which identified two new gold-in-soil anomalies (see Figure 3). The northern anomaly, known as the Limestone Creek area, lies approximately five kilometers northwest of the historical Yarrol gold resources. This new anomaly has dimensions of 200 by 600 meters, with the strongest results along the southernmost line. The area was identified as a target by EMX on the basis of magnetic inversion geophysical models, previous geochemical results and the presence of numerous historical prospecting pits. The Limestone Creek anomaly also coincides with a zone of albite-silica-goethite alteration developed adjacent to a monzonite porphyry and remains open to the south. The anomaly has a scale and tenor that resembles those over the historical gold resources on the Yarrol Project.

Other gold-in-soil anomalies have been delineated immediately northwest of the historical Yarrol resources, along a contact zone between geological formations within folded and faulted sediments, which also merit follow-up exploration.

In the process of carrying out the sampling programs at the Yarrol Project, EMX geologists also noted boulders of dark manganiferous material in several drainages in the northern part of the exploration license. The boulders were traced back to an outcropping stratigraphic horizon of dark, manganiferous material that has the appearance of a conglomeratic unit.

Nine rock chip samples collected from various boulders, float materials and outcrop exposures averaged 1.1% cobalt, 0.15 % nickel and 10.0% manganese, with a high of 1.6% cobalt with 0.25% nickel. EMX considers this to be a significant discovery of additional mineral potential on the Yarrol Project, as previous efforts had strictly focused on Yarrol’s intrusion-related gold mineralization. Additional sampling programs are underway to better quantify the extent of this unit and its degrees of enrichment in cobalt, nickel and manganese. Barium is also enriched in this material, with eight of the nine samples submitted for analysis exceeding the upper analytical limit of 1% barium.

Upcoming Exploration Plans. Additional geochemical sampling programs will be carried out at both the Mt Steadman and Yarrol projects in the coming months with the goal of extending the soil anomalies and identifying additional drill targets. Drill programs are being planned for mid-2022.

EMX’s Australian Royalty Generation Program. EMX maintains an active royalty generation program and continues to review new project opportunities throughout Australia. The Company currently holds two royalty projects in Australia (Koonenberry and Queensland Gold) and has three exploration projects in Queensland that are available for partnership. More information on these projects can be found on the EMX website (www.EMXroyalty.com).

Comments on Sampling, Assaying, and Nearby Mines and Deposits. EMX’s exploration samples were collected in accordance with industry standard best practices. EMX conducts routine QA/QC analysis on its exploration samples, including the utilization of certified reference materials, blanks, and duplicate samples. All samples were submitted to ALS Brisbane for sample preparation and analysis (ISO 9001:2000 and 17025:2005 accredited).

The soil samples were analyzed using the AuME-TL-44 method which is a trace level gold and multi-element technique consisting of an aqua-regia digest and an ICP-MS finish.

The rock chip samples were analyzed with a four-acid super trace technique (ME-MS61) with an ICP-MS finish. The rock chip samples were also analyzed with a lithium borate fusion prior to acid dissolution (three-acid) and an ICP-MS finish (ME-MS81). Over limit cobalt and manganese samples were analyzed by a HF-HN03-HCL04 digest, HCL leach and ICP-AES (OG62) finish.

The nearby mines and deposits discussed in this news release provide context for EMX’s properties, which occur in a similar geologic setting, but this is not necessarily indicative that the properties host similar mineralization.

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

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

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

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

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

Forward-Looking Statements

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

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



Figure 1. Location map for the Yarrol and Mt Steadman projects.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/108814_emxfigure1.jpg

The summary of historical production at Mt Rawdon is from the Evolution Mining website: https://evolutionmining.com.au/wp-content/uploads/2020/04/Mt-Rawdon-fact-sheet-2020_LR.pdf (2020).

The summary of historic production at Mt Morgan is cited from Mt. Morgan: A. Taube; The Mount Morgan gold-copper mine and environment, Queensland; a volcanogenic massive sulfide deposit associated with penecontemporaneous faulting. Economic Geology; 81 (6): 1322-1340.



Figure 2. 2021 Soil Results from the Mt Steadman Project.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/1508/108814_e9855e3924041a44_004full.jpg



Figure 3. 2021 Soil Results from the Yarrol Project.

To view an enhanced version of Figure 3 please visit:
https://orders.newsfilecorp.com/files/1508/108814_e9855e3924041a44_005full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/108814

Categories
Base Metals Energy Exclusive Interviews Junior Mining

Andrew Hecht – Copper Fundamentals and Stock Pick

https://soundcloud.com/proven-and-probable/andrew-hecht-copper-fundamentals-and-stock-pick

Nevada Copper As We Head Into 2022

  • Copper reached a new high in 2021
  • Higher highs are on the horizon in 2022 for three critical reasons
  • A favorable jurisdiction in Nevada- Momentum build and the value proposition is improving
  • Two groups in the know have made significant investments
  • The shares continue to offer value, risk-reward favors the upside for Nevada Copper

The leading stock market indices have been bumpy over the past weeks. The prospects for higher interest rates and taxes in 2022, new COVID-19 variants, inflation at the highest level in decades, and other factors have created uncertainty, which tends to cause indigestion in the stock market. However, many leading stocks remain near or at record highs.

Copper is a bellwether commodity that many market participants look to for clues about the health and wellbeing of the global economy. Copper’s nickname is Dr. Copper because it tends to move higher during economic expansion and lower when the global economy contracts. In May 2021, copper rose to its highest price in history when nearby COMEX futures rose to just shy of $4.90 per pound, and LME forwards moved to over $10,700 per ton for the first time. Over the past year, copper has taken on a new role, increasing the demand side of its fundamental equation. The red nonferrous metal is a critical requirement for decarbonization, leading Goldman Sachs to call copper “the new oil.”

In the world of commodities, higher prices and growing demand lead to more production. However, the global copper market faces a challenge as it will take years for new supplies to come to market, creating deficits that push the price higher. While copper corrected since the May high, the price remained around $4.40 per pound level as of December 24.  

Locating value in the US stock market is not easy these days. Nevada Copper Corp. (NEVDF) is a promising emerging US producer. Two seasoned commodity groups recently invested in NEVDF, seeing tremendous value in the burgeoning producer.

Copper reached a new high in 2021 Copper closed 2020 at the $3.52 per pound level on the nearby COMEX futures contract and $7,757 per ton on the three-month LME forwards.

Source: CQG

The chart highlights COMEX copper futures move to a high of $4.8985 in May. With the active month March contract at the $4.40 level on December 24, the price moved 25% higher in 2021 with only one week until 2022.

Source: LME

Three-month copper forwards rose to a high of $10,724.50 in 2021 and was at the $9,568 level on December 24, 23.35% higher than at the end of 2020.

While copper is closing 2021 below the year’s high, the trend remains bullish with impressive gains since the end of last year.

Higher highs are on the horizon in 2022 for three critical reasons

Three reasons support higher highs and new all-time peaks in the copper market in 2022 and beyond:

  • Copper is critical for electric vehicles (EVs), wind turbines, and other clean energy initiatives. The red metal is a crucial ingredient for decarbonization, making the fundamental equation’s demand-side grow.
  • It takes eight to ten years to bring new copper production online from exploration to output. Copper is still in the early phases of expanding global production, with the leading mining companies scrambling to find new ore deposits. As demand increases, supplies will struggle to keep pace over the coming years.
  • Inflationary pressures will continue to rise, putting upward pressure on all commodities, and copper is no exception. At the latest December FOMC meeting, the US central bank forecast a 0.90% Fed funds rate for 2022 and a 1.60% rate for 2023. Even if inflationary pressures recede, real interest rates are likely to remain negative, which is bullish for raw material prices in the coming years.

Copper faces an almost perfect bullish storm for the coming years. Goldman Sachs’s forecast of $15,000 per ton by 2025 would put nearly COMEX futures over the $6.80 per pound level. While higher prices will encourage more production, existing mines cannot keep pace with the rising demand.

Chile is the world’s leading copper producer. The recent election of Gabriel Boric, a 35-year-old former student activist who carries a new generation’s socialist dreams to the presidential palace, threatens Chile’s capitalist economy fueled by copper output. Taxes are likely to rise along with wages and addressing climate change could cause a new wave of regulations that weigh on copper output over the coming years. Moreover, the new Chilean government could move to nationalize copper mines, which would impact output and efficiency. The bottom line is that a supply-demand deficit in the global copper market is likely to widen over the coming years, putting upward pressure on the red nonferrous metal’s price.

A favorable jurisdiction in Nevada- Momentum build and the value proposition is improving

The world’s leading copper producers are searching the globe for new reserves and output. Australian mining giant BHP recently said it is considering a challenging Democratic Republic of Congo copper project. The DRC is notorious for political and regulatory issues.

Meanwhile, the US remains a friendly mining environment, and Nevada is a state that supports the industry and is mineral-rich.

Nevada Copper (NEVDF) is an emerging producer with a lot going for it these days. The company mines copper in Nevada in the USA, and the Canadian Fraser Institute ranks the state as the world’s #1 mining jurisdiction. In 2021, momentum has been building for NEVDF:

  • Underground mine operation improvements have resulted in 100% growth in development rates.
  • New equipment in the second half of 2021 has accelerated development.
  • An operational efficiency plan took effect in the second half of 2021 and is forecasted to increase output in H1, 2022.

To put more meat on the bone, in a December 21 press release, the company provided updates on its Pumpkin Hollow underground mine project:

  • Nevada Copper is on track to advance over 1,100 lateral equivalent feet of development in December 2021.
  • Development is running at the highest rate for 2021, with December nearly 50% higher than November and almost 100% above the level in August 2021.
  • New equipment should enhance further development and growth in January 2022.
  • Ventilation fan infrastructure should be completed in Q1 2022.
  • Mining of the Sugar Cube, the first high-grade area in the East North Zone of the underground mine, is on schedule for Q1 2022.

In December, CEO Randy Buffington said, “We are on track to complete 1,100 feet of lateral development this month, which puts the Company in a position to mine the first stope of high-grade Sugar Cube as planned next month.”

Accelerated development increases NEVDF’s value proposition:

  • The current enterprise value is less than the value of the company’s machinery and equipment.
  • NPV at current prices is close to the US $3 billion level.
  • The company will be cash-flow positive in 2022.
  • Open-pit mining development will accelerate in 2022.

The company’s prospects are compelling, leading two influential groups to invest in NEVDF.

Two groups in the know have made significant investments

Solway Investment Group is a private international mining and metals group with headquarters in Switzerland. Solway specializes in nickel production with mines and smelting plants in Guatemala, Ukraine, Russia, Indonesia, and Macedonia. The group has over 5,000 employees, is expanding its focus in battery metals, and recently invested US$30 million for a 10% stake in Nevada Copper.

Mercuria Energy Group Ltd. is a multinational commodity trading company active in global energy, metals, and agricultural markets. The company dates back to 2004 when two ex-Phibro executives, Marco Dunard and Daniel Jaeggi departed after Citigroup sold Phibro to Occidental Petroleum. The company recently closed an oversubscribed $2.2 billion multi-year secured borrowing base credit facility with a collection of international financial institutions. Mercuria is one of the world’s leading and growing commodities trading companies, with core exposure in energy. Mercuria’s goal is a 50% portfolio in renewable energy over the coming five years and invested US$30 million for a 10% stake in Nevada Copper.

Solway and Mercuria are top organizations in the international commodities business, with tentacles reaching across the globe. Both companies put their capital up as they see the compelling potential for Nevada Copper’s properties and business plan.

The shares continue to offer value, risk-reward favors the upside for Nevada Copper

Nevada Copper shares remain inexpensive at the end of December 2021. Aside from the Solway and Mercuria investments, insider buying is another bullish sign for the company. After a recent blackout period, CEO Randy Buffington purchased 200,000 shares, and the company’s directors have been buyers of the shares. Nevada Copper shares (NEVDF) peaked at $2.40 value in May when copper prices reached the high at nearly $4.90 per pound. Copper closed around the $4.40 level on December 23, and NEVDF shares having fallen dramatically in early December hitting yearly lows, could be a golden opportunity for investors that see the same potential as Solway and Mercuria.

Source: Barchart

The chart shows that NEVDF shares corrected to a low of 38.78 cents on October 1 as nearby copper futures moved to test the $4 per pound level. At 53.0 cents per share on December 23, Nevada Copper had a $236.328 million market cap.

Development companies are risky businesses as their future depends on delivering from their mines. The backing of two well-established commodities trading and investment companies, insider buying, and accelerated progress are positive signs for the company as we head into 2022.

New copper production is scarce, and mining companies are scouring the globe for new reserves. Nevada copper’s location, proven and probable reserves, management, progress, and investors bode well for the company’s future. Further progress could transform NEVDF from an emerging producer to a takeover candidate or established producer as the world’s leading miners are hungry for output. Risk is always a function of reward with any investment. At 53.0 cents per share, NEVDF’s potential compensates for the risk.

Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.

Categories
Junior Mining

RooGold Year-End Review

VANCOUVER, BC / ACCESSWIRE / December 30, 2021 / RooGold Inc. (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) (“RooGold” or the “Issuer“) is pleased to reflect on a very successful 2021.

RooGold spent 2021 amassing a portfolio of complementary properties located in New South Wales (NSW) Australia. NSW is one of the most prolific gold territories for exploration and production since the 1850s. It is the second largest gold producing area in Australia with a gold endowment exceeding 3,160 tonnes. The New South Wales resources sector is vibrant, with world class deposits, a highly skilled workforce and a well-earned reputation for safe, responsible and innovating mining practices.

KEY PROPERTY ACQUISITIONS

Southern Precious Metals Ltd. (SPML)

The Company acquired a 100% interest in SPML, and its subsidiary, which held 100% interests in the Malebo and Solomons Properties in NSW. Through this acquisition, the Company welcomed key shareholders Dr. Chris Wilson and Dr. Quinton Hennigh.

Dr Wilson is a commercially-driven exploration geologist with over 30 years of experience in area selection and prospect generation, target generation, and the design and management of large resource definition drilling and pre-feasibility programs. He has worked in over 75 countries, on most commodities and deposit styles from grassroots through resource definition to feasibility. He spent 10 years with Ivanhoe Mines (IVN), including being Exploration Manager for Mongolia where he was responsible for an exploration portfolio of over 127 licences, spanning 11 million hectares. More recently Dr. Wilson has been involved in resource to mine to production reconciliation studies, project valuation and fatal flaw analysis.

Dr. Hennigh has been an integral figure in Australian junior exploration for many years. His advisory role in Kirkland Lake Gold’s (KL) acquisition of the Fosterville gold mine in Victoria Australia lead to a dramatic increase in shareholder value as Kirkland Lake’s shares rose from $6/share in 2015 to over $75 in 2020. Dr. Hennigh’s Novo Resources (NVO) has also made a major discovery in the Pilbara region of Western Australia. As founder, then its CEO and currently Chairman, he has led them from a junior explorer to a producer. In addition, through his role as lead geo-technical advisor at Crescat Capital LLC, a Denver Colorado based hedge fund with a focus on junior precious metals investments, he consults for various prospective junior mining companies such as current high-flier, NewFound Gold Corp (NFG), of which Quinton is a Director.

RooGold Limited (Private Co.)

Through its acquisition of private company RooGold Ltd., RooGold Inc. (Public Co.) acquired nine (9) large resource exploration land packages in NSW, with the majority being past producing. The acquisition significantly added to the Company’s land position in NSW with an expanded array of potential targets in a proven mining friendly jurisdiction.

Properties being acquired from RooGold Ltd. have hosted historical high-grade gold and silver production, but have limited exploration work conducted on them in modern times. The Properties provide diversity in terms of the deposit types and are controlled by renowned regional structures and contacts. One of these structures is the well-recognized Peel-Manning fault system. The Properties have had a combined total of 93 historic precious metals mines and prospects. Highly lucrative production grades of up to 384 g/t Au and 1,200 g/t Ag have been recorded on these historical mines. The Properties represent a very unique proposition: they possess a rare combination of having large exploration potential along with strong indications pointing towards the presence of high-grade mineralization through the significant historical mines and prospects.

Aussie Precious Metals Corp. (APMC)

The Company acquired two large historically producing land packages in NSW. The addition of these properties complements one of the properties acquired from RooGold Ltd. which covers the northern portion of the Copeland goldfield, located approximately 65km south-east across the same mineralized system as the two APMC properties.

The first of the two properties is known as Trilby (ELA 6237) comprising of 215 km2 and is located in the western portion of the New England orogenic terrain. The area spans a 35km long section of the serpentanized Peel-Manning Fault system within the eastern boundary of the New England orogenic terrain. The area includes the Trilby historic gold mine, consisting of swarmed meta-hydrothermal quartz veins with visible gold noted. The geological setting is highly prospective for Listwanite associated gold mineralization. The Peel-Manning Fault zone is significantly gold endowed to the north (Bingara Alluvial field) and the south (Nundle gold field) of the application area. Hard rock gold lode deposits are also abundant across the fault site. Hence, the potential for significant listwanite associated orogenic precious metal deposits are considered viable exploration targets.

The second property is known as Lorne (ELA 6234) comprising of 102.5 km2, which is located in the western portion of the New England orogenic belt. The area spans 12 strike kilometres of the significantly gold mineralized regional Peel-Manning fault system. Mineralization is of an orogenic or lode gold type and is characterized by quartz veins which may host high grade gold shoots. The area includes twenty-eight past producing gold mines and prospects. Historical production and prospecting records define a 1 km wide, 7.5 km long gold trend. Historical hard-rock production grades of up to 15 g/t Au are cited on the NSW MinView website. The historic mines include the past producing Marquis of Lorne orogenic gold-antimony mine, with over 500 m of historical underground workings and historic estimated reserves of 50,000 oz Au. Historic drill hole intercepts of up to 5 g/t Au over 5m are recorded across this zone from 5 drill holes, according to NSW government archive records.

CONSOLIDATED PROPERTY PACKAGE

(13 CONCESSIONS-1,380KM2 -137 HISTORIC MINES & PROSPECTS)

With the culmination of these acquisitions, RooGold Inc. now has 9 highly prospective gold and silver properties (5 gold and 4 silver) from private company RooGold Ltd., 2 gold properties from Southern Precious Metals Limited (“SPML”) and 2 more gold properties from Aussie Precious Metals Corp (“APMC”). RooGold Inc. has a district scale land package in NSW composing of 13 concessions spanning ~1,380km2 and is home to 137 historic mines and prospects. NSW is prolifically mineralized with multiple metallogenic belts relative to other Australian regions and remains largely unexplored outside of the main camps. The region has a considerable gold endowment exceeding 100 Moz and silver endowment exceeding 1Boz.

CLOSING OF NON-BROKERED FINANCING

On October 4, 2021, the Company closed a non-brokered private placement of $2,632,500. One of the key investors in the round was Crescat Capital LLC. RooGold entered into a Strategic Shareholder Agreement with Crescat Capital LLC whereby Crescat’s Investment Team and its Geological and Technical Director, Quinton Hennigh, will act as advisors to RooGold management..

Proceeds of the Financing will be largely deployed towards the exploration work program on the Company’s NSW portfolio of properties. RooGold’s NSW exploration will be centered on highly focused and priority driven work programs. The initial focus will be on the three properties located on the Peel Manning Fault – Trilby, Lorne, and Gold Belt.

MARKET AWARENESS EFFORTS

On November 8, 2021, the Company announced the engagement of Cascade Ventures Ltd. (“Cascade“) for corporate consulting services for a term of 12 months. Cascade has been engaged to help coordinate a market awareness program for the Company through investor relations planning and budgeting, communications strategies, campaign development and management, and corporate positioning. To that end, as a result of comprehensive discussions through the later part of the year, it is the expectation of Cascade that multiple Investor Relations groups will be engaged in Janaury to collectively tell the RooGold Inc story as the company strives to increase shareholder value throughout 2022 and beyond.

PARTING THOUGHTS

“I firmly believe we are executing the necessary steps required for RooGold to become a successful and global exploration company. 2021 has been a year of transformational acquisitions and I am very excited to further explore these properties, while driving awareness to our story,” stated Mike Mulberry, CEO of RooGold. “Looking at 2022, our plan is to continue building out a best-in class management team to execute on our strategy and to engage proven resource story-tellers to help us tell our compelling story to the markets,” continued Mr. Mulberry.

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. 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 1,380 km2 which have 137 historic mines and prospects.

For further information please contact:

Michael Mulberry
T: 778-855-5001
info@roogoldinc.com

Forward-Looking Statements

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 similarwords, or statements that certain eventsor conditions “may” or “will” occur.

Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto 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.

SOURCE: RooGold Inc.



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