Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“). Further to its news releases dated July 29, 2021, August 17, 2021 and October 21, 2021, the Company is pleased to announce it has entered into an amendment to extend the term of the US $44,000,000 credit facility (the “SprottCredit Facility“) entered with Sprott Private Resource Lending II (Collector), LP (“Sprott“) to December 31, 2024 in consideration for the payment of an amount equal to 1.5% of the outstanding principal amount of the Sprott Credit Facility, which shall be added to the principal amount of the Sprott Credit Facility; and to amend the voluntary prepayment rights under the Sprott Credit Facility to permit the prepayment of up to US $10,000,000 of the principal amount of the Sprott Facility at any time on or after June 30, 2023, and permit to the prepayment of the remaining principal amount of the Sprott Loan at any time on or after June 30, 2024. In addition, the Company has entered into an amendment to the postponement agreement between the Company, Sprott and SSR Mining Inc.(“SSR“) to permit the prepayment of the VTB Note (US $7,850,000 principal amount owed to SSR) prior to the repayment of the Sprott Credit Facility, provided that no event of default has occurred or is continuing under the Sprott Credit Facility.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, 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
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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 completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the 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.
YERINGTON, Nev., Jan. 25, 2022 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or “Company”) is pleased to announce the results from its Special Meeting of shareholders (the “Meeting”) that was held today. The Warrant Exercise Resolution (as defined below), the only item of business at the Meeting, was overwhelmingly approved by disinterested shareholders of the Company. Strong shareholder support for the Warrant Exercise Resolution was evidenced by approximately 99% of the disinterested shareholders who voted at the Meeting voting in favour of the Warrant Exercise Resolution.
Voting Details
At the Meeting, the disinterested shareholders of the Company, being all shareholders of the Company excluding Pala Investments Limited (“Pala”), the Company’s largest shareholder, and Pala’s associates and affiliates, approved an ordinary resolution authorizing (i) the exercise of 15,000,000 common share purchase warrants (the “Credit Facility Warrants”) that were issued to Pala on November 30, 2021 in connection with the amendment and restatement of the credit facility provided by Pala to the Company; and (ii) if some or all of the Credit Facility Warrants are exercised, the resulting issuance by the Company of common shares to Pala pursuant to the terms of the Credit Facility Warrants (the “Warrant Exercise Resolution”). The results of voting on the Warrant Exercise Resolution are provided below:
Votes For
% Votes For
Votes Against
% Votes Against
117,875,484
98.93%
1,275,978
1.07%
About Nevada Copper
Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.
Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – Playfair’s (TSXV: PLY) (FSE: P1J1) (OTC Pink: PLYFF) extensive drill program on its large (201 square kilometers) 100% owned RKV Copper Project in South Central Norway to test targets identified by using a combination of Artificial Intelligence (CARDS) and Mobile Metal Ion (MMI) geochemistry was partially completed in late 2021. In an abbreviated program, shortened by Covid-19 and logistical issues, a total of 539.7 metres was drilled in 11 holes.
In 2022 a total of 26 holes are planned for a total of 1,300 metres. Drilling will be completed at Storboren and the Røstvangen, Kletten and Sæterfjellet high MMI copper targets also will be drilled. The order of drilling will be dictated by logistics. The Municipality of Tynset has given Playfair permission to access the drill areas by helicopter. The logistics and schedule of drilling in several of the target areas will be eased by use of a helicopter.
All seven drill targets, as noted in the maps, show compelling coherent MMI Cu anomalies with multiple MMI Cu values greater than 6,000 ppb. The highest value recorded was 53,300 ppb MMI Cu. A short MMI Report by SGS states that values greater than 6,000 ppb MMI Cu “are likely to be associated with weathering copper sulphides”.
In keeping with Playfair’s intent to minimize the impact of its exploration on the natural environment Playfair is using a lightweight drilling machine which can be disassembled and hand-carried to the drill sites. Although lightweight the drill is capable of drilling to 150m depth using BQ sized rods (36.5 mm or 1.437 inches core diameter) and to 100m depth using NQ sized rods (47.8mm or 1.872 inches core diameter).
2021 Drill Results
Four holes were drilled at Rødalen and all were collared on a steep slope. A previously unknown amphibolite with sulphide mineralization was discovered though the unit showed no significant copper or cobalt values.
Results from the partially completed drill program at the Storboren High Copper MMI anomaly indicate the bedrock source of the copper is located upslope from the seven holes drilled in 2021. The immediate source of the part of the anomaly tested by drilling is interpreted as downslope migration of copper in overburden due to a combination of soil creep, sulphide weathering and local acid drainage. The drilling was carried out late in the year and the onset of snowy winter conditions coupled with the very steep terrain required the remaining drilling to be postponed to Spring 2022.
The first 6 holes at Storboren were on the lower part of the slope and encountered mostly unmineralized rocks of sedimentary origin. The last hole drilled, SBN-21-07, location shown on the map and image, encountered intrusive mafic to ultramafic rocks mixed with inclusions of sedimentary rocks similar to those drilled downslope to the southeast. There were several intervals of sulphide mineralization showing anomalous copper, cobalt, and nickel. Of the 11 holes drilled in 2021 at Storboren and Rødalen SBN-21-07 contains the 10 highest copper values, the 10 highest cobalt values and 8 of the 10 highest nickel values. 102 samples of drill core were analyzed. Copper values range from 1.8 to 1355 ppm with a mean of 144 ppm, cobalt values ranged from 15.4 to 97 ppm with a mean of 38 ppm and nickel ranged from 32.9 to 377 ppm with a mean of 157 ppm.
Of particular interest is the occurrence of an area devoid of vegetation at the northern edge of the high copper MMI anomaly. The usual overgrown vegetation is intersected by a 10 – 15 m long 1 – 2 m wide exposure originating from a water outflow near the base of the upper, steeper slope.
Within this unvegetated area many angular to sub-rounded blocks (10 to 50 cm) are present, some of local origin, some non-local and some of undetermined origin. One block, visually unlike the rocks in nearby outcrops and drillholes, was sulphide-rich and assayed 1.265% copper, 3.24% zinc, 0.199 gpt gold and 16.45 gpt silver.
This polymetallic mineralized block supports the interpretation of the upslope location of the bedrock source of the MMI anomaly.
Playfair plans continued shallow drilling to trace the MMI copper anomaly upslope to its bedrock source.
Samples from the 2021 drilling were cut and sent for analysis. Preparation was at the Malå, Sweden ALS laboratory with analysis at the Loughrea, Ireland ALS laboratory.
ALS Minerals is internationally recognized as the global leader in providing geochemical sample preparation, analytical procedures, and data management solutions, with its European hub lab based in Loughrea, Co. Galway.
Playfair Mining uses a quality assurance/quality control (QA/QC) program that monitors the chain of custody of samples and includes the insertion of blanks, duplicates, and reference standards in each batch of samples sent for analysis. Drill core is photographed, logged, and cut in half with one half retained in a secured location for verification purposes and one half shipped for analysis. Sample preparation (crushing and pulverizing) is performed at ALS Geochemistry, an independent ISO 9001:2001 certified laboratory, in Malå, Sweden and pulps are sent to ALS Geochemistry in Loughrea, Ireland for analyses.
The entire sample is crushed to 70% passing -2 mm and a riffle split of 250 grams is taken and pulverized to better than 85% passing 75 microns (PUL-31). Samples are analyzed by multi-acid (4-acid) digestion/ICP-MS Package for 48 Elements (ME-MS-61). Additionally, samples are analyzed for Au, Pt and Pd using a standard fire assay from a 30-gram pulp (PGM-ICP23). Overlimit sample values for silver (>100 g/t), lead (>1%), zinc (>1%), and copper (>1%) are re-assayed using a four-acid digestion overlimit method with ICP-AES (ME-OG62). No QA/QC issues were noted with the results reported herein.
The technical contents of this release were approved by Greg Davison, PGeo, a qualified person as defined by National Instrument 43-101.
The road to a cleaner environment includes electric vehicles. Electric vehicles need copper, nickel, and cobalt. There is no green future without minerals.
Forward-Looking Statements: This Playfair Mining Ltd News Release may contain certain “forward-looking” statements and information relating to Playfair which are based on the beliefs of Playfair management, as well as assumptions made by and information currently available to Playfair management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, exploration and development risks, expenditure and financing requirements, title matters, operating hazards, metal prices, political and economic factors, competitive factors, general economic conditions, relationships with vendors and strategic partners, governmental regulation and supervision, seasonality, technological change, industry practices, and one-time events. Should any one or more of these risks or uncertainties materialize or change, or should any underlying assumptions prove incorrect, actual results and forward-looking statements may vary materially from those described herein.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, British Columbia, Jan. 25, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4XO) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. In Q4-2021, Rover tested a ground induced polarized survey (“IP Survey”) over proven high-grade gold zones on the property. The test results indicated a positive correlation between IP Survey chargeability and the sulfide content in the Bugow Iron Formation. High-grade gold at Cabin is associated with elevated-sulfide concentration. The Company followed up the successful test survey, with an extensive ground IP Survey that covered the Beaver Zone, Andrew Zone, and the Camp Target. The Company is pleased to announce that one of the highlights of the IP Survey is a large anomaly that appears to extend the Beaver Zone 200 meters to the southeast (of the final drill hole of the 2021 drill program, CL-21-40), trending towards the high-grade Arrow Zone. On December 7, 2021 the Company released the results of its drilling at the Beaver Zone. Highlights from drilling at the Beaver Zone included 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au. Highlights of 2020 drilling at the Arrow Zone included 32 meters of 13.6 g/t Au.
IP Survey Comprehensive Results The Company is also pleased to be reporting on the discovery of three prominent IP anomalies: (1) the aforementioned Beaver Zone; (2) the Andrew South IP Target, and (3) the Camp IP Target. The dipole-dipole IP Survey comprised 25m station spacing along lines spaced 25 meters apart, with a 40m depth slice of chargeability.
Beaver Zone IP Anomaly The IP anomaly extending 200 meters to the southeast of drill hole CL-21-40 has never been drilled historically and provides exciting blue sky discovery potential to the project.
Andrew South IP Anomaly The Andrew South IP anomaly is located approximately 350 meters northeast of the Beaver Zone, close to the southern tip of the Andrew Zone. The IP anomaly appears to indicate the discovery of a new mineralized limb of the Bugow Iron Formation, and a new chargeable zone along that limb, trending from southeast to northwest parallel to both the Beaver Zone and the Andrew Zone. The Andrew South IP Anomaly has never been drilled historically and is another example of blue sky discovery potential at the project.
Camp IP Anomaly The historic Camp area exists along the primary limb of the Bugow Iron Formation, to the northwest of the Beaver Zone. This new IP anomaly has never been drilled historically, and again provides exciting blue sky discovery potential to the project.
Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.
Judson Culter, CEO at Rover Metals, states “we’re thrilled to have made the discovery of three new large IP anomalies at the Cabin Gold project. We’re hoping to test these new targets as part of our Phase 3 Exploration Program planned for Q1 of this year. None of these targets have been drilled historically. The possible extension of the Beaver Zone 200 meters to the southeast, presents us with an opportunity for another high-grade gold discovery.”
About Rover Metals Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in Q3-2021, and the analysis and reporting of the Phase 2 Exploration work at Cabin Gold continues through to the date of this release.
You can follow Rover on its social media channels:
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
North Vancouver, British Columbia–(Newsfile Corp. – January 25, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce additional results from the infill drill program undertaken in the near-surface portion of the Tuvatu deposit. This program was designed to further strengthen the database in the portion of the deposit earmarked for earliest production, from the Company’s 100% owned Tuvatu alkaline gold project in Fiji.
– ~6735m of drilling completed in 38 holes since the start of infill program (~85% of the proposed program completed)
Highlights from near-surface infill drilling include:
TUDDH555
126.62 g/t Au over 0.70m from 133.00-133.70m, including
294.50 g/t Au over 0.30m from 133.40-133.70;
8.25 g/t Au over 2.90m from 137.60-140.50m, including
28.67 g/t Au over 0.60m from 139.10-139.70m, 15.72 g/t Au over 0.30m from 139.40-139.70m,
9.31 g/t Au over 1.70m from 145.00-146.70m, including
31.63 g/t Au over 0.40m from 145.90-146.30m
TUDDH557
17.60 g/t Au over 5.0m from 113.80-118.80m, including
125.50 g/t Au over 0.60m from 115.3-115.9m
35.63 g/t Au over 0.30m from 150.40-150.70m
TUDDH559
14.21 g/t Au over 1.20m from 119.8-121.0m;
6.23 g/t Au over 3.7m from 142.50-146.20, including
22.44 g/t Au over 0.60m from 143.1-143.7m, and 14.48 g/t Au over 0.30m from 145.6-145.9m
TUDDH562
111.40 g/t Au over 0.40 from 164.7-165.1m (Figure 3B, 3C in previous press release)
TUDDH563
20.41 g/t Au over 0.30 from 13.66-13.96m (Figure 3A in previous press release)
63.26 g/t Au over 0.30 from 52.49-52.79m
68.50 g/t Au over 0.30 from 164.55-164.85m
TUDDH565
35.64 g/t Au over 0.40m from 63.8-64.2m
359.76 g/t Au over 1.80m from 70.8-72.6m, including
1616.0 g/t Au over 0.40m from 71.1-71.5m (Figures 3-4, this release)
13.34 g/t Au over 1.70m from 92.9-94.6m, including
42.09 g/t Au over 0.40m from 93.3-93.7m
4.28 g/t Au over 5.10m from 117.3-122.4m
10.03 g/t Au over 0.60m from 141.9-142.5m, including
17.75 g/t Au over 0.30m from 142.2-142.5m
18.61 g/t Au over 0.70m from 154.8-155.5m
TUG136
16.19 g/t Au over 0.60m from 75.7-76.3m, including
30.97 g/t Au over 0.30m from 76.0-76.3m
4.71 g/t Au over 4.20m from 77.9-82.1m, including
10.76 g/t Au over 0.30m from 77.9-78.2, and 12.62 g/t Au over 0.6 from 78.5-79.1m
TUG137
16.44 g/t Au over 4.20m from 106.4-110.6m, including
26.11 g/t Au over 0.60m from 107.6-108.2m, and
22.80 g/t Au over 2.10m from 108.5-110.6m, which includes
45.35 g/t Au over 0.30m from 109.4-109.7m, and 37.40 g/t Au over 0.30m from 110.0-110.3m
Infill Drilling Program Multiple bonanza-grade intercepts have been returned from the ongoing near-surface infill/definition drill program which is aimed at a thorough re-appraisal of the database in portions of the resource earmarked for earliest production. The current ~8000m infill drill program was initiated in June of 2021 with the aim of infilling areas of low data density within parts of the resource currently categorized as Inferred. To date, a total of ~6735m of diamond drilling over 38 holes have been completed, with ~15% of the proposed program remaining. Final results are here reported from a total of 10 holes, 7 of which were drilled specifically as part of the infill program (TUDDH555-562, 565) and three of which were drilled as part of the deep program testing the 500 Zone, but which intersected high grade mineralization in the near-surface (TUDDH563, TUG136, 137). Figures 1-3 illustrate schematically the location of drill holes reported here, and mineralized intervals relative to modelled lodes.
The exceptional grades returned from hole TUDDH565 at a downhole depth of ~71.2m, of 1616.0 g/t Au corresponds to a complex vein of centimetric width at low to moderate angle to core axis, consisting of coarse, subhedral honey sphalerite, fine skeletal marcasite and coarse visible gold in a groundmass of amorphous gray quartz. The vein also contained coarse vugs lined by clear crustiform euhedral quartz crystals and abundant delicate wire native gold. Figures 4 and 5 show some of the coarse visible gold intersected at this interval as well as other mineralogical characteristics. A complete set of results for all near-surface drill intersections reported here is included as Table 1; drill hole parameters are included as Table 2. Results from deeper drill intersections will be reported in a subsequent news release.
The Company is currently undertaking two tiers of drilling: 1) the completion of shallow resource infill drilling from surface and underground, 2) deep exploration drilling from surface and underground targeting lode extensions and additional feeders under the Tuvatu resource. Regional drill programs requiring access to remote parts of the Navilawa caldera has been interrupted during the wet season, but will resume in early 2022.
Sergio Cattalani, Lion One’s Senior Vice President Exploration, commented, “Exceptionally high grade mineralization has been defined in the near-surface portion of the deposit. High grade mineralization is showing to be more consistent and appears to form wider zones with good continuity than what had been previously modelled. I am increasingly confident that once underground mining is underway, the average head grade of the ore earmarked for early production will be higher than previously modelled. The additional data generated by the infill drilling and resampling programs currently underway are indicating that portions of the orebody return higher grades over multiples of minimum mining widths that are not defined by the current resource model.
Our objective remains clear: to work toward a near-term modest production start, concomitant with an aggressive exploration program aimed at the continued expansion of bonanza-grade resources both near-surface and along defined feeder conduits at greater depths, for the eventual scaled-up development of a larger and more valuable resource.“
Figure 1:Left) schematic cross-section across the northern part of Tuvatu showing the location of some infill drill holes, with selected results. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes. Note that many of the mineralized intervals do not correspond with the previously modelled lodes, suggesting the possibility of previously unrecognized mineralization.
Figures 2, 3:Left) schematic cross-sections across the northern part of Tuvatu showing the location and selected results from some of the drill holes reported here. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.
Figures 2, 3:Left) schematic cross-sections across the northern part of Tuvatu showing the location and selected results from some of the drill holes reported here. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.
Table 1: Drilling Intervals Reported (intervals greater than 3.0 g/t Au cutoff and wider than 2.0m are bolded)
Drill Hole
From (m)
To (m)
Interval (m)
Au (g/t)
TUDDH-225 (resampled)
52.7
53.7
1.0
9.62
including
52.7
53.4
0.7
14.1
TUDDH-408 (resampled)
83.7
85.7
2
6.12
including
83.7
84.3
0.6
14.2
TUDDH-555
24
24.9
0.9
0.67
118
118.9
0.9
1.41
133
133.7
0.7
126.62
including
133.4
133.7
0.3
294.5
137.6
140.5
2.9
8.25
including
137.6
138
0.4
12.93
and
139.1
139.7
0.6
28.67
which includes
139.1
139.4
0.3
41.61
and
139.4
139.7
0.3
15.72
141.8
143.1
1.3
8.56
including
141.8
142.2
0.4
12.34
and
142.5
143.1
0.6
8.81
145
146.7
1.7
9.31
including
145.9
146.3
0.4
31.63
150.8
151.3
0.5
0.63
TUDDH-556
124
125.2
1.2
3.23
127.3
127.9
0.6
0.9
147
147.4
0.4
0.59
173.4
174
0.6
1.54
176.7
177
0.3
2.46
TUDDH-557
102.7
104.2
1.5
1.02
105.7
112.6
6.9
3.89
including
108
108.6
0.6
26.56
113.8
118.8
5.0
17.6
including
115.3
115.9
0.6
125.5
including
118.2
118.8
0.6
9.69
133.6
134.9
1.3
0.57
144.4
144.8
0.4
2.6
150.4
150.7
0.3
35.63
TUDDH-559
22.6
22.9
0.3
4.39
101
101.9
0.9
1.09
115.7
116.6
0.9
1.18
119.8
121.0
1.2
14.21
131.3
131.6
0.3
5.78
135.9
138.3
1.2
4.09
including
137.7
138.3
0.6
7.42
142.5
146.2
3.7
6.23
including
143.1
143.7
0.6
22.44
and
144.7
145.00
0.3
9.34
and
145.6
145.9
0.3
14.48
155.4
155.7
0.3
2.99
181.1
181.7
0.6
5.38
TUDDH-560
24.4
24.8
0.4
0.62
144.3
144.7
0.4
1.44
TUDDH-562
42.1
42.5
0.4
5.58
129.9
130.3
0.4
3.88
132
132.3
0.3
2.89
158.4
158.8
0.4
3.7
164.7
165.1
0.4
111.4
166.7
167.1
0.4
1.17
218.3
218.6
0.3
1.37
TUDDH-563
13.66
13.96
0.3
20.41
14.86
15.1
0.24
0.83
18.8
19.1
0.3
0.57
21.8
22.4
0.6
5.13
25.2
26.4
1.2
1.58
52.49
52.79
0.3
63.26
58.1
58.5
0.4
6.48
125.25
125.55
0.3
0.58
164.55
164.85
0.3
68.5
300.15
300.65
0.6
1.04
TUDDH-565
45.5
46.1
0.6
0.86
52.8
54.3
1.5
0.52
56.4
57.6
1.2
2.84
59.1
61.5
2.4
1.73
63.8
64.2
0.4
35.64
66.6
67.8
1.2
0.59
70.8
72.6
1.8
359.76
including
71.1
71.5
0.4
1616.0
73.8
74.3
0.5
1.36
75.8
79.4
3.6
2.73
88.7
90.3
1.6
8.52
92.9
94.6
1.7
13.34
including
93.3
93.7
0.4
42.09
99.5
100.1
0.6
1.79
117.3
122.4
5.1
4.28
including
119.4
120.0
0.6
7.22
139.5
140.7
1.2
0.68
141.9
142.5
0.6
10.03
including
142.2
142.5
0.3
17.75
152.4
153.6
1.2
1.37
154.8
155.5
0.7
18.61
TUG-136
3.4
4.0
0.6
0.5
65.5
65.8
0.3
0.59
69.4
69.7
0.3
6.34
75.7
76.3
0.6
16.19
including
76
76.3
0.3
30.97
77.9
82.1
4.2
4.71
including
77.9
78.2
0.3
10.76
and
78.5
79.1
0.6
12.62
and
80.6
80.9
0.3
6.57
and
81.2
81.5
0.3
7.63
102
102.3
0.3
1.89
103.6
103.9
0.3
0.53
TUG-137
5.0
5.7
0.70
0.5
29.3
30.0
0.70
2.32
106.4
110.6
4.20
16.44
including
107.6
108.2
0.60
26.11
which includes
107.6
107.9
0.30
40.65
and including
108.5
110.6
2.10
22.8
which includes
109.4
109.7
0.30
45.35
and also includes
110
110.3
0.30
37.4
161.4
161.7
0.30
1.43
169.3
169.6
0.30
1.97
Table 2: Survey details of diamond drill holes referenced in this release not previously reported
Hole No
Coordinates (Fiji map grid)
RL
final depth
dip
azimuth
N
E
m
(TN)
TUDDH555
3920724.8
1876385.7
237.0
239.50
-74
274
TUDDH556
3920725.3
1876384.4
237.0
182.30
-48
285
TUDDH557
3920725.2
1876385.0
237.1
241.00
-64
284
TUDDH559
3920724.8
1876385.7
237.0
188.70
-75
270
TUDDH560
3920723.1
1876385.2
237.0
220.90
-60
240
TUDDH562
3920723.3
1876385.5
237.0
244.20
-70
248
TUDDH563
3920796.3
1876351.1
209.7
875.00
-63
121
TUDDH565
3920779.0
1876396.0
219.8
200.50
-59
253
TUG136
3920759.6
1876459.2
139.1
617.40
-58
151
TUG137
3920759.0
1876459.0
139.1
686.70
-68
163
TUDDH225
3920737.3
1876336.3
222.8
300.25
-60
330
TUDDH408
3920767.2
1876336.5
225
140.6
-65
320
Figure 4:A) Photo of a portion of uncut drill core from TUDDH565, with a vuggy quartz vein of centimetric width at 71.20m depth. This 0.40m sample returned 1616 g/t Au. B) Close-up of a portion of the vein showing subhedral sphalerite, dendritic marcasite and coarse visible gold. C) Closer view of dendritic marcasite clusters suggesting rapid growth and conditions of supersaturation, in a groundmass of amorphous gray silica.
Drilling and Assay Processes and Procedures The Company is utilizing its own diamond drill rig, using PQ, HQ and ultimately NQ sized drill core rods. Drill core is logged by Company geologists and then is sawn in half and sampled by Lion One staff.
Samples are analyzed at the Company’s own geochemical laboratory in Fiji, whilst pulp duplicates of all samples with results >0.5g/t Au are re-assayed, as well as sent to ALS Global Laboratories in Australia for check assay determinations. All samples for all high-grade intercepts reported here are will be sent to ALS Global Laboratories for check assays shortly. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10g/t Au are then re-analyzed by gravimetric method. For certain high-grade samples for which results for duplicate assay are within 10% of the initial results, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples sent to ALS Townsville, Queensland, Australia are analyzed by the same methods (Au-AA26, and also Au-GRA22 where applicable). ALS also analyze for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES. (method ME-ICP61).
Qualified Person The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sergio Cattalani, P. Geo, who is a qualified person pursuant to National Instrument 43-101 – Standards of disclosure for Mineral Projects (“NI-43-101).
About Tuvatu The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu as disclosed in the technical report “Tuvatu Gold Project PEA”, dated June 1, 2015, and prepared by Mining Associates Pty Ltd of Brisbane Qld, and subsequently updated in January 2018 as disclosed in the technical report and PEA by Tetra Tech “Technical Report and Preliminary Economic Assessment Update for the Tuvatu Gold Project, The Republic of Fiji” dated September 2020, comprises 1,007,000 tonnes Indicated at 8.48 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.
About Lion One Metals Limited Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa caldera, an underexplored yet highly prospective 7km diameter volcanic edifice of alkaline affinity. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff“ Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – Further to its October 4, 2021 news release, RooGold Inc. (“ RooGold ” or the “ Issuer “) announces that it has closed a second tranche of its previously announced Non-Brokered Unit Private Placement, on a post-Consolidation basis, by issuing 2,399,500 Units at $0.25 per Unit and raising $599,875.00. Each Unit consists of a Common Share and a half (1/2) a Common Share Purchase Warrant, each whole Warrant entitling the holder to purchase an additional Common Share at $0.40 per Share for a two year period from Closing. The term of the Warrants is subject to an Accelerator Clause that the Issuer can elect to trigger if the Issuer’s Share price trades above $0.50 for 30 consecutive trading days.
The net proceeds from the Private Placement, together with the net proceeds from the first tranche closing of $2,632,500, will be used for phase 1 exploration of RooGold’s Australian properties acquired from Southern Precious Metals Ltd. (see Aug. 19, 2021 news release), investor relations & marketing, as a reserve for exploration of its conditionally acquired Australian properties from 1267248 B.C. Ltd. (formerly, RooGold Inc.), and Aussie Precious Metals Corp, and for working capital.
In connection with the Private Placement, Foundation Markets Inc. received Finder’s Fees of $28,390 and 69,760 Finders’ Warrants, each Finder’s Warrant entitling the holder to purchase a Common Share at $0.32 for a two year period. The term of the Finder’s Warrants is subject to an Accelerator Clause that the Issuer can elect to trigger if RooGold’s shares trade above $0.50 for 30 consecutive trading days.
The Units are subject to a statutory restricted trading period expiring on May 21, 2022.
Market Awareness Engagement
RooGold also would like to announce that it has engaged Stockhouse Publishing Ltd. (“ Stockhouse “), which owns a streaming platform with one of the largest communities of retail investors in North America, to provide investor awareness and digital media communication services to the Company. Under the terms of the engagement, Stockhouse has been retained for a 12-month period at $120,000.00. Stockhouse records on average over 1 million unique investors per month, with over 400,000 registered members.
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 highly mineralized precious metals properties in this prolific region of Australia. Through its acquisition of Southern Precious Metals Ltd., 1267248 B.C. Ltd. (formerly, RooGold Inc.) 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 is home to 137 historic mines and prospects.
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
TORONTO, Jan. 19, 2022 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) announces it has granted an aggregate of 2.35 million restricted share units (the “RSUs”) to its senior officers and key consultants, pursuant to the Company’s RSU plan (the “Plan”).
The Plan aims to compensate and reward its key officers and consultants for working towards the Company’s long-term objectives and in alignment with the shareholders’ best interests. All of the RSUs granted cannot be settled until December 31, 2025 (the “Redemption Date”) and are subject to the following performance related vesting milestones in connection with the advancement of the Company’s Iska Iska silver-tin polymetallic project:
one-third to vest on the date of filing of a National Instrument 43-101 (“NI 43-101”) compliant technical report in connection with the measurement of at least 300 million tonnes of Inferred Resources at the Iska Iska project in Bolivia.
one-third to vest on the date of filing of a NI 43-101 compliant technical report in connection with the measurement of at least 500 million tonnes of Inferred Resources at the Iska Iska project in Bolivia.
one-third to vest on the date of filing of a NI 43-101 compliant technical report in connection with the completion of a positive Prefeasibility Study for the Iska Iska project in Bolivia.
The settlement of any vested RSU awards shall only occur at the end of the performance period, on the Redemption Date, being December 31, 2025, and all settlements are subject to the terms and provisions of the Plan.
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.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Targets entire strike length of Appleton Fault Zone
Figure 1.
Gold anomalies, occurrences, and drill targets along the Appleton Fault Zone.
Gold anomalies, occurrences, and drill targets along the Appleton Fault Zone.
TORONTO, Jan. 19, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce a significant increase to its diamond drilling program, at the 100% controlled Kingsway project near Gander, Newfoundland. This increase follows the Company’s success exploring along the Appleton Fault Zone over the past 18 months. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
LabGold plans to double the current drilling program to 100,000 metres which includes the outstanding 23,000 metres remaining in the current 50,000 metre program. Four diamond drill rigs are currently operating at Kingsway and a fifth rig is scheduled to start following receipt of permits. Applications for 111 drill holes were submitted late last year and are expected in early March. The increased program is fully funded by the Company’s cash on hand of approximately $30 million.
Drilling will continue to test Big Vein along strike and down plunge as well as the Pristine target where early drilling is encouraging. Golden Glove, where grab samples from a quartz vein containing visible gold assayed from 2.16 to 338.08 g/t Au (see news release dated October 21, 2021), is a prime target and will be drilled following receipt of soil samples over the area. These are expected in the first quarter. Numerous other targets developing along the Appleton Fault Zone (see Figure 1) will be systematically tested along the entire 12km strike length during the increased program.
“We continue to be excited by the prospectivity of the Appleton Fault Zone at Kingsway and that was a key factor in deciding to increase the size of the drilling program. Not only do we expect to develop the targets we already have to the drilling stage, but we are also confident that we will uncover more as we continue to follow our exploration strategy proven over 18 months of work at Kingsway. With over $30 million in cash and no debt the Company is well capitalized for this planned increase,” said Roger Moss, President and CEO of Labrador Gold. “In addition to the outstanding assays from our drilling, we are still waiting for many soil and rock assays from the regional work carried out along the Appleton fault during 2021. We expect that some of these assays will enhance our current targets and perhaps hint at new ones that we can develop going forward.”
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.
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 100,000 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 153,904,110 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.
VANCOUVER, British Columbia, Jan. 19, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/OTCQB:HAMRF) (“Silver Hammer” or the “Company”) is pleased to provide a corporate update including corporate and exploration achievements in 2021 and plans for advancing the Company’s portfolio of assets during 2022. The Company completed an IPO in early May 2021 and subsequently established an experienced and talented team, acquired three high-grade past-producing properties in top-tier jurisdictions and fast-tracked permitting and drilling at its flagship Silver Strand Project in Idaho.
Silver Hammer President and CEO, Morgan Lekstrom, stated: “Since the Company’s inception eight months ago, we have delivered on numerous key milestones, delivering a successful proof-of-concept drill campaign at Silver Strand, plus significant sample results across our entire portfolio of US assets. We plan to continue this growth and work trajectory putting Silver Hammer in a strong position to create additional shareholder value in 2022.”
2021 Highlights (May-Dec)*:
Acquired the past-producing, high grade, Silver Strand Mine in Idaho
Acquired high-grade past producing Eliza Silver and Silverton Mine projects
Significant surface results at Silver Strand with up to 255 g/t Ag and 11.79 g/t Au
Completed mine rehabilitation work to facilitate cost-effective underground drilling
High-grade sampling results at Eliza, including 1540 g/t Ag (3,071 g/t AgEq)
Initial sampling at Silverton returned 692 g/t Ag and 6 g/t Au
Drill campaign at Silver Strand included 202.76 g/t AgEq over 4.42 m, 209.85 g/t AgEq over 7.93 m (incl 532 g/t AgEq over 0.92 m), and 880 g/t AgEq over 0.92 m
Phase I drilling at Silver Strand (first in ~20 years) confirmed presence of Au-Ag mineralization at shallow depths, with deeper drilling planned in 2022
Added key personnel, completed name change and uplisted to OTCQB in US
2022 Exploration Plans:
Commence deeper, cost-effective underground drill campaign to continue testing Silver Strand Mine system to 200 m depth
Commence surface drilling at Silver Strand to test targets identified by sampling and geophysics programs completed in 2021
Complete additional mapping and sampling of outcrop at Silver Strand to enhance geological understanding and define more regional targets along 5.5 km trend
Conduct geophysics and additional sampling programs at Eliza and Silverton (underway) to define and permit Phase I drill targets at both properties
Advance Eliza and Silverton to drill-ready stage by H2/2022 and progress discussions with prospective partners
Lekstrom added: “We believe our 2021 drill program has given us an early indication of the massive potential at Silver Strand and look forward to completing a second phase of drilling from our underground drilling bay and testing surface targets in the near future. Our Nevada projects also offer excellent upside and we’ve been actively sampling out in the field this month at Silverton. Our projects share similar characteristics as past-producers in top-tier jurisdictions with demonstrated high-grades, and we are excited to build on a very successful 2021.”
Qualified Person
Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company has commenced an initial drill program at Silver Strand that will test for silver and gold mineralization immediately below the mine’s lowest level extending only 90 metres below surface. Silver Hammer strives to become a multimine silver producer and will focus near-term exploration and drilling plans at the Company’s Idaho and Nevada silver-gold assets.
(Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.)
On Behalf of the Board of Silver Hammer Mining Corp..
Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For investor relations inquiries, contact: Kristina Pillon, High Tide Consulting Corp.
Burlington, Ontario–(Newsfile Corp. – January 18, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (‘SBMI’ or ‘the Company’) is pleased to report excellent assay results from a bulk sample from its Washington Mine in Idaho (the ‘Property’). The assay results from SBMI’s own assay lab on site have been corroborated by a third-party accredited lab.
“The importance of these results cannot be overstated,” said A. John Carter, the Company’s CEO. “These results support three important conclusions. First, they are in line with historical data, which increases our comfort level with using that data for guidance. Second, they show the Property is still mineralized with silver and gold. Third, and I think most importantly, it confirms that QA/QC processes both in our own lab and at the third-party lab return very similar results. This further validates our lab.”
The results are below. Lines 1, 2, 3 and 4 were processed in SBMI’s lab in Arizona. Line 5 was processed by Paragon Geochemical, a third-party lab. These values are in oz/ton silver.
Q1
Q2
Q3
Q4
SBMI
1
69.6
55.4
44.2
48.8
SBMI
2
68.8
55.4
43.0
51.6
SBMI
3
74.0
57.0
44.0
54.0
SBMI
4
70.4
56.8
44.2
51.4
Avg per Quarter
70.7
56.2
43.9
51.5
Avg across all Quarters
55.5
Paragon
5
70.1
67.1
50.0
46.6
Diff between SBMI & Paragon
0.8%
-16.2%
-12.2%
10.5%
Paragon also assayed for gold, which across the four quarters returned 1.82g/t, 2.49g/t, 1.77g/t, and 1.4g/t respectively. SBMI did not assay for gold.
As indicated above the SBMI average across all quarters was 55.5 oz/ton silver. This equates to over 1,902 g/t silver at a conversion rate of 34.285.
SBMI collected the bulk sample from eight locations at the Property. The material from each of the eight locations was blended into an 80-kilogram bulk sample, with the result being crushed and quartered. Five kilograms of material was removed from each quarter and processed by SBMI as sixteen assays in total. Five kilograms of material was removed from each quarter and processed by Paragon as four assays.
The Company intends to send the fourth quarter of the bulk sample for ore characterization and metallurgical testing to Montana Technical University, Centre for Advanced Mineral Processing. The remaining parts of the bulk sample including the pulps and rejects have been retained by SBMI as part of its QA/QC practices.
SBMI’s assay lab on-site in Arizona is managed by Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. He has also been the Chief Metallurgist for Northern Sphere Mining Corporation in Arizona, the Principal Process Specialist for Fluor Canada out of Vancouver, the Senior Metallurgical Engineer for Doe Run Lead, the Project Engineer for the commissioning of a copper concentrator start-up at Oz Minerals’ Prominent Hill Mine in South Australia, Senior Metallurgical Engineer for Cyprus Miami/Phelps Dodge Miami in Arizona, Metallurgical Engineer and Metallurgical Lab Supervisor for Newmont Gold in Nevada, and Chief Metallurgist for Inspiration/Cyprus Miami in Arizona among other positions.
Working with Mr. Budd in SBMI’s assay facility is Vic Power, a Registered Professional Assayer for the state of Arizona.
“We have an extremely high level of confidence in our team and in the accuracy of our assays,” said Mr. Carter. “Today’s results only add to that confidence.” SBMI’s management believes these assays confirm the tenor and range of grades reported historically from the silver veins, but cautions they may not be representative of the average grade of mineralization within the full width or extent of any of the muck piles or mineralized structures present on the Property.
The next steps at the Property are to continue sampling, to take the steps necessary to go underground for visual inspection and sampling, and then to take a larger bulk sample. As the Property is on patented lands the process of permitting required to re-open the Washington Mine is more streamlined. SBMI is in discussions with third parties for the purchase of the resulting ore and/or concentrate and has identified potential mill facilities near the Property. SBMI is also considering whether to ship larger samples from the Washington Mine to SBMI’s assay facility in Arizona.
Meanwhile, in Arizona, SBMI continues to advance work at the mill site and mine site at its massive Black Diamond property, which hosts among others the Buckeye Silver Mine. SBMI has been advised it has been moved up the list for the unloading of its shipping container at Long Beach, but cannot provide a firm date upon which such unloading will take place. Assuming it takes place in the next two weeks, SBMI is still on a timeline for pilot production at the Buckeye Silver Mine by the end of this quarter.
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 degree 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.
QA/QC at Paragon
The samples reported above were collected by the Company’s project geologist and then bagged, labeled, securely stored and sent to Paragon Geochemical in Sparks, Nevada following the Company’s standard QA/QC protocols and the use of independent testing labs. Silver and gold values were determined using fire assay with gravimetric finish using SOP-230. Paragon Geochemical is an IAS accredited full service geochemical laboratory in compliance with ISO/IEC Standard 17025:2017. It also holds a Certificate of Registration for its Quality Management System under ISO 9001:2015 for the testing of metal content in metal and mineral samples for mining companies.
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.
