VANCOUVER, BC / ACCESSWIRE / August 6, 2021 / NV Gold Corp. (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) announced today that Dr. Quinton Hennigh is retiring as a director of the Company. Dr. Hennigh has generously served as an NV Gold board member since its inception in 2009. Dr. Hennigh is resigning from all of his numerous board positions to fully focus on his new position with CRESCAT Capital. He will, however continue as a Board Advisor to the NV Gold. “The management and fellow directors of NVX join me in wishing Quinton well in his new position and sincerely thank him for his extensive contributions to our Company,” says John Watson, Chairman and CEO.
Mr. Watson also reported that work is moving forward on several of its Nevada projects in preparation for multiple drilling programs over the next 6 months. Notices of Intent are being submitted for drilling programs on the Slumber, Discovery Bay and Pickhandle projects. While drilling equipment remains difficult to procure, the Company expects to be able to begin its drilling campaigns in late September or early October. Equipment and drilling personnel remain in short supply, making exact timing uncertain.
NVX’s singular focus is exploration in Nevada, USA, one of the most prolific gold producing regions in the world. The Company has over 20 property holdings in this highly-competitive region, several of which are advanced and are drill ready. The next year promises to be very exciting, with news and progress on several projects.
About NV Gold Corp.
NV Gold is a well-financed exploration company with a strong treasury and no debt. The company is based in Vancouver, B.C., and is focused on delivering value through mineral discoveries in Nevada, United States, leveraging its highly experienced in-house technical team and strong property position. 2021 and 2022 promise to be NV Gold’s busiest exploration years to date.
On behalf of the Board of Directors,
John E. Watson President & CEO
For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
John E. Watson, President & CEO Phone: 1-888-363-9883 Email: peter@nvgoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company’s planned exploration activities, the potential for a discovery at its properties, and acquisition of new gold projects are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, the extent to which mineralized structures extend on to the Company’s Projects and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or the “Company”) is pleased to announce that it has successfully arranged a $40 million funding through the issue of new shares at 3.2 cent per share (the “Placement”).
Highlights:
Fully underwritten A$5M share purchase plan, and A$35M private placement corner-stoned by mining major Glencore and underpinned by several domestic and overseas institutional investors, as well as some of Hot Chili’s largest shareholders
Glencore will emerge as Hot Chili’s largest shareholder with a 9.99% interest
New funds secure the final acquisition payment of US$15M for a 100% interest in the Company’s world-class Cortadera copper-gold discovery in Chile – payment to be made immediately
Fully funded to deliver a major resource upgrade and Pre-feasibility study for Costa Fuego, current resource standing at 2.9Mt copper, 2.7Moz gold and 9.9Moz silver and 64kt molybdenum (as announced to ASX on 12th October 2020)
Further updates expected as the Company advances its drilling, development studies and expected TSXV dual-listing later this year
Ownership of Cortadera, strong cash position, rapid resource growth and backing by Glencore provide a compelling foundation ahead for the Company’s plans to dual list on the TSXV in Canada later this year.
Hot Chili’s Managing Director Christian Easterday said “the $40 million funding secures ownership of Cortadera, and Glencore’s investment and involvement is a strong endorsement of our future”
Cortadera’s maiden Mineral Resource positions Hot Chili with the largest copper Mineral Resource and one of the largest gold Mineral Resources for an ASX-listed emerging company.
The Cortadera maiden Mineral Resource of 451Mt at 0.46% copper equivalent (CuEq) takes the total Mineral Resource estimate for Costa Fuego (Cortadera, Productora & El Fuego) to 724Mt at 0.48% CuEq for 2.9Mt copper, 2.7Moz gold, 9.9Moz Silver and 64kt molybdenum. Cortadera also contains a higher grade component of 104Mt at 0.74% CuEq, and this has strong potential to continue growing rapidly with further drilling.View the Cortadera Project
Hot Chili Limited Head Office (Perth) First Floor, 768 Canning Highway, Applecross, Western Australia 6153
TORONTO, Aug. 05, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V: LAB | OTCQX: NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the results of a till sampling program recently completed along the Appleton Fault Zone on its 100% controlled Kingsway project Newfoundland. The Kingsway project is located within the highly prospective Gander Gold District.
Highlights from the sampling program include:
Results of 59 till samples taken over the southern Kingsway property show contained gold grains ranging from 0 to 311 grains. Twelve of the 59 samples contain more than 50 gold grains, of which four contain more than 100 grains.
A sample containing 165 gold grains, of which 153 (93%) are pristine, occurs just down ice of Big Vein which is the likely source of the grains in this till sample.
Two samples containing 165 (96% pristine) and 311 (83% pristine) gold grains occur approximately 700 metres northeast (down ice) of Big Vein. The large number of pristine grains in these samples indicates a short transport distance suggesting a source other than Big Vein closer to the sample locations.
Similarly, a sample containing 101 gold grains, 28 of which are pristine, occurs a further 2.3km to the northeast, again suggesting a separate source.
The results from these till samples, together with anomalous soil geochemistry from the 2020 sampling survey, demonstrate the potential for the discovery of further gold mineralization along the Appleton Fault Zone.
“We are very excited by the possibility of additional gold occurrences to the northeast of Big Vein along the Appleton Fault Zone demonstrated by these sample results,” said Roger Moss, President and CEO of Labrador Gold. “While our primary focus remains to drill the Big Vein target and find more high-grade gold mineralization, our field crews will follow up these till results in the coming weeks to generate targets for drilling later this year.”
The Company is pleased to announce that President and CEO Roger Moss will be presenting an update from the Kingsway project in a live webinar taking place on Thursday, August 12th, 2021, at 1 p.m. PT / 4 p.m. ET. The webinar will be hosted by Focus Communications Investor Relations (“FCIR”) and Cory Fleck of the Korelin Economics Report. Participants are encouraged to submit any questions for the company prior to the event by emailing FCIR at info@fcir.ca .
Till samples comprised of 10kg of material were collected, placed in plastic bags and sealed with single use ties. Samples were shipped by transport truck in plastic totes to Overburden Drilling Management (ODM) of Nepean, Ontario for processing. ODM uses custom gravity concentration including shaking tables and micro-panning of the resulting heavy mineral concentrates to recover gold grains from the samples. Any gold grains present are extracted for microscopic study to determine the morphology and dimensions of the grains.
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 March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The property is along strike to the northeast of New Found Gold’s discovery of 92.86 g/t Au over 19.0 metres on their Queensway property. (Note that mineralization hosted on adjacent or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property). In early July 2020, the Company signed an option agreement to acquire a third license to add to the property package which now covers approximately 77 km 2 . 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.
The Hopedale gold property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Initial work by Labrador Gold has identified a 3 kilometre mineralized section of the northern portion of the belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold.
The Ashuanipi gold project is located just 35 km from the historical iron ore mining community of Schefferville, which is linked by rail to the port of Sept Iles, Quebec in the south. The claim blocks cover large lake sediment gold anomalies that, with the exception of local prospecting, have not seen a systematic modern day exploration program. Results of the exploration to date show gold anomalies in soils and lake sediments over a 15 kilometre long by 2 to 6 kilometre wide north-south trend and over a 14 kilometre long by 2 to 4 kilometre wide east-west trend.
The Company has 150,577,206 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, Aug. 05, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. ( “Novo” or the “Company” ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to announce that Mr. Michael Spreadborough, currently one of the Company’s independent directors ( refer to the Company’s news release dated January 13, 2021 ), has been appointed by Novo’s board of directors to the role of executive co-chairman.
Dr. Quinton Hennigh, the Company’s long-serving chairman and president, is transitioning to non-executive co-chairman of the Company and will remain actively involved with Novo’s exploration teams as efforts continue across the Pilbara and with Novo’s Victorian joint venture partners. Dr. Hennigh will also continue to engage with Novo’s shareholders and stakeholders.
Mr. Rob Humphryson continues in his longstanding role as Chief Executive Officer and director, reporting to the executive co-chairman. Mr Humphryson has successfully transitioned Novo from a pure-play explorer to its exciting new phase as a producer and explorer, and he will continue in his role to drive progress across operations and including a heightened focus on Novo’s mechanical sorting programs.
The change to the executive team structure will drive the next phase of Novo’s growth as the premier producer and explorer in the Pilbara region, along with the full exploitation of Novo’s interests in Victoria, Australia.
Novo remains focused on sustaining long-life production using its Golden Eagle processing facility, developing mechanical sorting technology to transform the exploitation of Novo’s nuggety conglomerate deposits, and to continue its focused exploration programs on the highly prospective 14,000 km 2 Pilbara exploration tenements.
“Mr. Spreadborough joined the Company in January 2021 and immediately became an integral part of the team,” commented Dr. Hennigh. “Michael brings a wealth of Australian resource industry operational experience and international executive public company experience with both TSX and ASX-listed issuers to Novo. As the Company transitions to steady state operations, Michael’s operational expertise and guidance will be invaluable. The other directors and I look forward to advancing Novo’s operational efforts and future growth.”
“Dr. Hennigh has guided the Company from exploration to production in just over a decade, which is a rare feat in the industry,” commented Mr. Michael Spreadborough. “I would like to thank Quinton, the Board, and Novo’s management team for their support and I look forward to guiding the Company to operational excellence.”
About Novo
Novo is commissioning its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com .
Continuing excellent safety record with no LTIs recorded at the Company’s Beatons Creek conglomerate gold project (the “ Nullagine Gold Project ”)
Record monthly gold production of 8,589 oz Au in July , a 46% increase over June
7,899 ounces of gold sold in July, generating revenue of C$17.8 million 1 (A$19.2 million) , a 50% increase over June
Record number of grade control assays processed in July (> 68,000 PhotonAssays) , expecting to clear the assay backlog by October 2021
Exploration drilling ongoing at near-mine and East Pilbara conglomerate and orogenic basement targets
July month-end cash balance of C$49 million , representing 6% growth since June
Fair value of Novo’s investments of approximately C$170 million 2
“I’m delighted with the continuing positive trajectory of the Nullagine Gold Project as the team adjusts to mining and processing this completely new style of conglomerate gold mineralization,” commented Rob Humphryson, CEO and a director of the Company. “The site team is functioning cohesively as they perfect the geological and mining methods required to underpin a sustained and successful operation.”
VANCOUVER, British Columbia, Aug. 05, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. ( “Novo” or the “Company” ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide an operations update from the Nullagine Gold Project after another record month of growth. Subsequent updates will be provided on a quarterly basis.
NULLAGINE GOLD PROJECT
Gold Production
Gold production at the Nullagine Gold Project for July 2021 was a record month of 8,589 ounces produced during July 2021 ( Figure 1 ).
Mill throughput continued to increase month-on-month. As anticipated in the Company’s news release dated June 8, 2021 , the processing plant’s annualized rate is increasing towards 1.8 mtpa ( Figure 2 ). A total of 148 kt of gold-bearing conglomerate material was processed in July. Recovery rates are also stabilizing around 95%. July’s processing head grade was 1.94 g/t Au.
Mining
Mined mineralized and waste material was lower in July with some of the Company’s contract mining fleet allocated to assist with initial preparatory works for an upcoming tailings storage facility expansion.
Intertek Testing Services (Australia) Pty Ltd (“ Intertek ”) has now fully commissioned two Chrysos PhotonAssay machines at its Maddington (Perth) facility ( Figure 3 ) ( refer to the Company’s news release dated May 18, 2021 ) and processed a total of 68,235 PhotonAssays (including QA/QC samples) in July. This compares favourably against average sample returns per month over the past six months. Assuming that July’s processing rates continue, the Company expects that its backlog of grade control samples will be cleared by the end of October 2021 which will significantly improve the Company’s ability to optimize recovery of mineralized material at the Nullagine Gold Project.
Intertek have also been selected to design and manage a site-based sample preparation laboratory at the Nullagine Gold Project. The lab setup is proceeding rapidly, with commissioning expected to be completed by mid-August. To date the crusher/dryer facility, ducting refurbishment, and pad extensions have all been completed, with lab personnel expected to arrive on site early next week.
Exploration
Exploration works at the Nullagine Gold Project accelerated during June as reverse circulation (“ RC ”) drilling was completed at several conglomerate (Beatons Extended and Skyfall) and orogenic basement (Margies, Cutlass and AU81 north) targets, all located within a 50 km radius of the Company’s Golden Eagle processing facility. A series of additional high priority targets more recently delineated within the Nullagine Gold Project area by detailed geological mapping, rock chip sampling and soil sampling are also scheduled for drill testing in the latter half of 2021 (Daisy Central, Red Ensign, GENNE, Parnell, Vulture).
Further afield, RC drilling commenced in July at one of Novo’s high priority orogenic vein targets at the Talga Project ( Figure 4 ), testing strike and depth potential, and grade continuity of the mineralised lode systems at McPhees and NW Australian. Rock samples collected by Novo combined with detailed mapping define a mineralized corridor approximately three kilometres long and include assay results with best grades of 81.4 g/t Au, 46.9 g/t Au, 35.1 g/t Au and 30.0 g/t Au (refer to the Company’s news release dated June 3, 2021 ). These results are not necessarily representative of mineralization at Talga Talga. This prospect is located some 30 km to the north of the town of Marble Bar (150km north of Nullagine) and is suitable for haulage to the Company’s Golden Eagle processing facility at the Nullagine Gold Project.
Novo’s cash position and working capital remains robust, with cash reserves of C$49 million as at July 31, 2021 as compared to cash reserves of C$46.3 million as at June 30, 2021. Operational cash inflows accounted for most of this increase, with only approximately C$0.6 million attributable to stock option exercises and asset dispositions.
In addition to its cash reserves, the Company’s portfolio of investments held a fair value of approximately C$170 million 2 as at July 31, 2021. Volatility in the value of the Company’s portfolio is mostly attributable to the Company’s 9.83% holdings in New Found Gold Corp. (TSXV: NFG).
Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a director of Novo and its president and chairman.
Cautionary Statement
The decision by the Company to produce at the Nullagine Gold Project was not based on a feasibility study of mineral reserves demonstrating economic and technical viability and, as a result, there is an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability.
About Novo
Novo is commissioning its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com .
On Behalf of the Board of Directors,
Novo Resources Corp.
“ Quinton Hennigh ”
Quinton Hennigh
Chairman and President
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, planned mining and processing activities; that the backlog of PhotonAssays is expected to be cleared by October 2021; and that the processing plant’s annualized rate is expected to reach 1.8 mtpa. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo’s annual information form for the 11-month fiscal year ended December 31, 2020, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
1 Converted to Canadian dollars using the July 1 – 31, 2021 average foreign exchange rate of 0.9294.
2 This value excludes the fair value of warrants held in GBM Resources Ltd. and Kalamazoo Resources Limited. Novo’s ability to dispose of its investments is subject to certain thresholds pursuant to its senior secured credit facility with Sprott Private Resource Lending II (Collector), LP. Please refer to the Company’s management’s discussion and analysis for the 11-month fiscal year ended December 31, 2020, which is available under Novo’s profile on SEDAR at www.sedar.com. Novo’s investment in New Found Gold Corp. is subject to escrow requirements pursuant to National Instrument 46-201 Escrow for Initial Public Offerings . The value of Novo’s holdings in Elementum 3D, Inc. (“ E3D ”) is based on E3D’s most recent financing price of US$2.50 per share. Except for its investment in E3D, the fair value of Novo’s investments is based on closing prices of its investments and relevant foreign exchanges rates as at July 31, 2021.
Lakewood Exploration Inc.Wed, August 4, 2021, 7:30 AM
Table 1
Select Samples
Select Samples
VANCOUVER, British Columbia, Aug. 04, 2021 (GLOBE NEWSWIRE) — Lakewood Exploration (CSE: LWD / OTC: LWDEF) (“Lakewood” or the “Company”) is pleased to provide an update to ongoing surface sampling and exploration activities at the Company’s recently acquired past-producing Silver Strand Mine located in the Coeur d’Alene Mining District of Idaho. Highlights from the sampling program include:
11.79 grams per tonne (g/t) gold one kilometre (km) beyond the previously sampled area
255 g/t silver along 5.5 km mineralized trend
Strong indications of multiple sub-parallel veins
The Company recently completed additional claim staking along the Osburn Fault-Burnt Cabin Fault Zone expanding the property from 60 claims to a total of 70 claims. Consulting geologists, Childs Geoscience are currently mapping and reconnaissance sampling the northwestern part of the Silver Strand property. Forty-one samples were collected along road cuts and logging trails revealing stratigraphic contacts, faults, widespread alteration and in places mineralized quartz veins and silicified Revett quartzite. Regionally, this thick sequence of quartzites and siltites strike northwest and dip to the northeast. Gold values ranged from less than detectable to a high of 11.79 g/t gold (Au), averaging 1.33 g/t Au. Silver values from the recent sampling ranged from a low of 1.71 g/t silver (Ag) to a high of 34.29 g/t Ag, averaging 5.48 g/t Ag. One of the better rock chip samples, PN614064, collected near the Burnt Cabin Mine reported 7.23 g/t Au and 7.54 g/t Ag. Another highly anomalous zone, central to the property position, sampled a one metre wide quartz-limonite vein, reporting 5.04 g/t Au and 6.17 g/t Ag.
*These are select samples, V993688- V993691 samples were previously reported June 28th.
The on-going surface work is being conducted from the Silver Strand mine through the Burnt Cabin Mine and up to 1 km beyond. This exploration work is examining areas that have not previously been explored due to the previously fractured ownership of the land package. Work is also continuing around the Silver Strand mine in support of drilling which is planned for the end of summer.
President Morgan Lekstrom stated: “We are very excited with these results which confirm widespread alteration and gold-silver mineralization throughout the property and along the 5.5 km strike. The recent work has also identified multiple sub-parallel veins to the past producing Silver Strand Mine. With drilling of Silver Strand expected to commence toward the end of summer, these results will help inform future exploration plans and step-outs from the historic mine.” We have also scheduled an airborne geophysical (magnetics) survey of the Silver Strand property using modern drone technology to provide more detail than previously available.
Qualified Person
Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Lakewood Exploration
Lakewood Exploration is a junior resource company that controls the Lacy Gold Project in British Columbia, Canada, and the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA. The Company is rapidly advancing towards an initial drill program at Silver Strand with the aim of defining a large silver resource within a belt that has produced more than 1.2 billion ounces of silver to-date. Geologic studies indicate that the Silver Strand Mine is hosted by the Revett formation, suggesting the potential for significant down dip extensions as demonstrated by other major mines in the district. Previous operators were solely interested in developing the known shallow mineralization, with the mine’s lowest level extending only 90 metres below surface. Lakewood strives to become a multi-mine silver producer.
*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 Lakewood Exploration Inc.
Morgan Lekstrom, President
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
NEWTOWN, PA and VANCOUVER, BC / ACCESSWIRE / August 4, 2021 /Jericho Energy Ventures (TSXV:JEV)(FRA:JLM0)(OTC PINK:JROOF) (“Jericho” or “JEV” or the “Company”) is pleased to announce its wholly owned subsidiary, Hydrogen Technologies (“HT”), has filed for a series of new provisional patents associated with the advancements of its second generation hydrogen boiler with the US Patent and Trademark Office.
On May 26, 2021, JEV announced the launch of HT’s newest Generation 2.0 cleanH2steam Dynamic Combustion Chamber™ (DCC™) Boiler 3000 Series design. The second generation DCC™ Boiler has an improved and streamlined fuel delivery system featuring high precision mass flow meters, increased process monitoring and remote management options. Improvements were also made to the ignitor design providing optimum combustion resulting in higher thermal efficiencies.
The enhanced engineering design was also accompanied by an active procurement strategy which led to metallurgy changes that address the current high cost and long lead time of stainless steel in global supply chains.
There is no pathway to Net Zero targets without a robust, efficient, zero-emission boiler. Currently, 37 percent of the fossil fuels burned by US industry alone is to produce steam. HT’s DCC™ is the only zero-emissions, closed-loop hydrogen boiler, which produces clean process steam without generating any air pollutants or emissions. The DCC™ system is designed to replace existing boilers that burn coal, natural gas, diesel, or fuel oil, which are estimated to account for over 20 percent of all global greenhouse gasses emitted each year.
“Our Hydrogen Technologies team has made significant advances with the DCC™ boiler, leveraging Jericho’s financial and strategic capabilities to drive innovation,” said CEO Brian Williamson. “The DCC™, designed without a smokestack for energy dissipating heat and gasses, is the only hydrogen-based boiler with ZERO greenhouse gas emissions. Our disruptive technology enables meaningful GHG emissions reduction for large users of heat and steam. With the filing of our recent patent application, we are preparing a broader marketing campaign targeting users with large thermal loads worldwide.”
About Jericho Energy Venture
Jericho Energy Ventures (JEV) is focused on advancing the low-carbon energy transition with investments in hydrogen technologies, energy storage, carbon capture and new energy systems. JEV’s wholly owned subsidiary, Hydrogen Technologies, delivers patented, zero-emission boiler technology to the $30 Billion Commercial & Industrial heat and steam industry in addition to its investment in H2U‘s electrocatalyst and low-cost electrolyser platform. JEV also owns and operates producing oil and gas assets in the US Mid-Continent, predominantly in Oklahoma.
This news release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. Although Jericho believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. Forward-looking information and statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information and statements which include, but are not limited to: the effects of and risks associated with the ongoing COVID-19 pandemic, the impact of general economic conditions, industry conditions and current and future commodity prices including sustained low oil prices, significant and ongoing stock market volatility, currency and interest rates, governmental regulation of the oil and gas industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities inherent in oil and gas exploration, development and production operations; and the other factors described in our public filings available at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.The forward-looking information and forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws.
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.
Cranbrook, B.C.; August 3rd, 2021: Taiga Gold Corp (CSE:“TGC”) (“Taiga” or the “Company”) has mobilized crew to commence exploration activity at the Company’s 100% owned Mari Lake property, located in Saskatchewan, approximately 20 km northwest of Flin-Flon, Manitoba. The property is located within the Trans-Hudson Corridor, a geological belt which has historically been significantly under-explored in Saskatchewan.
The Mari Lake property is host to 2 documented gold mineralized occurrences hosted by complexly folded rocks associated with iron sulphides and minor copper in stringer veins and micro-fracture infillings. The two showing are located approximately 2.8 kilometers apart and occur within the same stratigraphic unit. Historical grab samples taken by BHP Minerals Canada Ltd. returned values of up to 12.69 g/t Au from the Aga Showing and 14.4 g/t Au from the Naza Showing. Humus samples collected by BHP suggest near-surface gold anomalies for at least 1km to the north of the Aga showing. Rock grab samples are selective samples by nature and as such are not necessarily representative of the mineralization hosted across the property.
The Mari Lake area was first mapped by the Saskatchewan Government between 1949-51. The first recorded industry work was by Hudson’s Bay Exploration and Development who completed a ground electromagnetic geophysical survey in the vicinity in 1964. Work in the area by BHP Minerals Canada Ltd. between 1989 and 1992 included airborne and ground geophysical surveys, followed-up with geological mapping, rock, lake sediment, and humus sampling. The follow-up work resulted in the discovery of the Aga and Naza occurrences.
The property has been tested with two diamond drill holes located 1.4 kilometers north of the Naza Showing and 1.3 kilometers west of the Aga Showing. Neither drill hole tested the target stratigraphy that hosts the gold mineralization. The above results and information were taken directly from the SMDI descriptions and assessment reports filed with the Saskatchewan government. Management cautions that historical results were collected and reported by past operators and have not been verified nor confirmed by a Qualified Person, but form a basis for ongoing work in the Mari Lake property area.
Fieldwork will be carried out by TerraLogic Exploration Services of Cranbrook, BC
Charles C. Downie, P.Geo., a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects, and a Director of Taiga Gold Corp., has reviewed and approved the scientific and technical disclosure in the news release.
About Taiga Gold Corp
Taiga Gold Corp was created through a plan of arrangement with Eagle Plains Resources Ltd. and owns 6 projects targeting gold located within the Trans Hudson Corridor in the area near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga’s flagship “Fisher” property is currently being explored by the Fisher Joint Venture between SSR Mining and Taiga. Taiga’s 100%-owned Leland, Chico and SAM properties are currently under option to partners SKRR Exploration, Aben Resources and DJ1 Capital, respectively. Taiga continues to advance its 100%-owned Orchid and Mari Lake projects.
Taiga’s objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly prospective mining jurisdiction which was recently recognized by the Fraser Institute as one of the best places in the world in terms of Investment Attractiveness. Throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices.
Neither the CSE Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
Plan map of drill hole locations in the southern part of Omu Sinter and a cross section illustrating mineralization encountered in the southern part of the Omu Sinter project area. Note that low-grade mineralization extends from surface to a vertical depth of approximately 180 m. Short intervals of higher grade mineralization are present. Irving suspects a higher grade feeder structure is nearby
Plan map of drill hole locations in the southern part of Omu Sinter and a cross section illustrating mineralization encountered in the southern part of the Omu Sinter project area. Note that low-grade mineralization extends from surface to a vertical depth of approximately 180 m. Short intervals of higher grade mineralization are present. Irving suspects a higher grade feeder structure is nearby
VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) — Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) (“Irving” or the “Company”) is pleased to announce plans for drilling at Omui Mine Site and Hokuryu in Q3-Q4, 2021 and provide a summary of results from its Q1-Q2, 2021 diamond drill program at Omu Sinter. All three of these targets are part of Irving’s 100% controlled Omu Au-Ag Vein Project, Hokkaido, Japan. An initial drill permit allowing Irving to drill at Hokuryu (officially registered as Shin-Hokuryu, known as New-Hokuryu) has recently been received from the Ministry of Economy, Trade and Industry (METI), Hokkaido Bureau. https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html
Q3-Q4 Omui Mine Site and Hokuryu Diamond Drill Campaign
Irving plans to undertake diamond drilling at Omui Mine Site and Hokuryu during Q3-Q4, 2021. At Omui Mine Site, Rodren Drilling of Canada will drill a series of holes to follow up previous high-grade vein intercepts at the Honpi and Nanko targets. At Hokuryu, the maiden drill program will be undertaken using a Japanese-based drill contracted from Sumiko Resources Exploration & Development Co., Ltd., a wholly-owned subsidiary of Sumitomo Metal Mining Co., Ltd. Drilling will focus on the following priorities:
Honpi
Three holes will target extensions of veins encountered in some of the deeper holes completed over the past two years, particularly hole 19OMI-010 which encountered such notable intercepts including 3.00 m grading 27.0 gpt Au and 40.5 gpt Ag, 1.10 m grading 29.6 gpt Au and 36.5 gpt Ag, 3.77 m grading 12.3 gpt Au and 84.5 gpt Ag, and 1.20 m grading 7.8 gpt Au and 887.5 gpt Ag. The three planned holes will be positioned to test areas both east and west of hole 19OMI-010. (Please refer to the Company’s news releases dated December 17, 2019 and February 7, 2020)
One hole will test areas north of the historic Honpi vein where shallow holes completed in 2019 encountered high-grade veins. Intercepts include 1.00 m grading 19.25 gpt Au and 27.50 gpt Ag in hole 19OMI-001 and 1.80 m grading 6.05 gpt Au and 808.18 gpt Ag in hole 19OMI-002. The planned hole is expected to hit extensions of these veins. (Please refer to the Company’s news release dated December 17, 2019)
Nanko
One hole with test for deeper extensions of veins encountered in holes 20OMI-003, 20OMI-004 and 20OMI-005 last year. Most notably, hole 20OMI-003 encountered two veins, one grading 8.15 gpt Au and 147.29 gpt Ag over 1.76 m within a broader intercept of 3.55 gpt Au and 69.24 gpt Ag over 14.24 m and a second vein grading 21.65 gpt Au and 538.75 gpt Ag over 1.72 m including 56.10 gpt Au and 1,435.00 gpt Ag over 0.60 m. The planned hole will be drilled generally from north to south. (Please refer to the Company’s news release dated November 13, 2020)
A second hole will test an area northeast of holes 20OMI-006, 20OMI-007 and 20OMI-008 with vein intercepts of 2.39 m grading 5.22 gpt Au and 103.6 gpt Ag, 2.99 m grading 4.34 gpt Au and 26.8 gpt Ag and 2.00 m grading 3.98 gpt Au and 26.1 gpt Ag, respectively. The planned hole is designed to hit extensions of these veins. (Please refer to the Company’s news release dated February 9, 2021)
Hokuryu
Up to four holes are designed as a maiden drill test of the Hokuryu vein system. Mining was undertaken at Hokuryu for a few short years until it abruptly ceased in 1943. Irving’s recent controlled source audio-magnetotellurics (“CSAMT”) geophysical program has identified a large corridor of resistive, presumably silicified, rock extending well beyond the historic mine area. These initial holes will test select areas along this corridor for vein extensions and new veins.
Given the higher altitude at Hokuryu, completion of this program is dependant on weather. If holes remain uncompleted in 2021, Irving plans to complete this program as soon as possible in the spring of 2022.
Summary of Omu Sinter Drill Results
Earlier this year, Irving completed a series of four diamond drill holes at the Omu Sinter target. Holes 21OMS-002 and 21OMS-004 tested an area underlain by a broad expanse of silica sinter terrace in the southern part of this project area. Both holes encountered multiple long intervals of low grade gold and silver mineralization in bedded silica sinter and highly silicified, often hydrothermally brecciated, rocks beneath (see table below). Short intervals of higher grade mineralization were intersected. Remarkably, mineralized rock extends from surface to a vertical depth of approximtely 180 m (Figure 1). Although a high-grade feeder was not encountered, Irving believes potential for such a structure is good given the remarkable strength of this system and the presence of short, higher grade intervals in these holes. Irving plans to review this data and acquire additional structural data in an effort to identify a potential feeder structure prior to future drilling.
Summary of Results from Holes 21OMS-002 and 21OMS-004 at Omu Sinter
Hole
From (m)
To (m)
Length (m)
Gold (gpt)
Silver (gpt)
Gold eq (gpt)
Silver eq (gpt)
21OMS-002
15.11
23.80
8.69
0.23
6.33
0.32
22.9
31.50
37.80
6.30
0.46
8.49
0.58
41.6
48.50
53.13
4.63
0.25
5.43
0.33
23.4
61.47
165.60
104.13
0.23
15.13
0.44
31.7
including
61.47
61.79
0.32
3.13
60.00
3.96
285.4
and
90.00
92.50
2.50
1.45
28.22
1.84
132.6
and
110.00
113.40
3.40
0.26
62.93
1.13
81.7
181.50
224.00
42.50
0.18
11.33
0.34
24.3
21OMS-004
4.90
70.60
65.70
0.75
0.48
0.76
54.5
including
13.90
48.90
35.00
0.58
28.14
0.97
69.9
including
28.23
31.11
2.88
1.00
72.29
2.00
144.3
102.35
133.78
31.43
0.24
5.98
0.32
23.3
141.44
145.61
4.17
0.27
8.37
0.39
27.8
246.05
249.90
3.85
0.99
8.85
1.11
80.1
including
246.27
247.30
1.03
2.27
18.19
2.52
181.6
321.00
322.00
1.00
0.24
66.70
1.17
84.0
Au eq (gpt) = Au (gpt) + Ag (gpt)/72
Holes 21OMS-001 and 21OMS-003 tested CSAMT anomalies to the west and east of the main Omu Sinter trend, respectively. Although each hole encountered hydrothermally altered volcanic rocks, only anomalous Au and Ag values were encoutered. Therefore, Irving believes all mineralization at Omu Sinter occurs within the 1.2 km long north-south corridor now tested by multiple holes.
“Irving has an aggressive drill program planned beginning approximately September 1, 2021″ commented Dr. Quinton Hennigh, director and technical advisor to Irving. “Two drills will be operating, one conducting follow up drilling of high-grade veins at Omui and a second undertaking maiden drilling at Hokuryu, a very large untested high-grade vein target. We are very eager to get back to work. At Omu Sinter, we have identified a remarkably large volume of mineralized bedded sinter and underlying intensely silicified and brecciated rock in the southern part of this project area. Although low grade, the strength and volume of rock that has been affected suggests a feeder structure is nearby. It may be in an orientation we simply have not explored. We plan to review this data and collect new field data to see if we can better define such a feeder structure prior to future drilling.”
All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted rock samples to ALS Global, Vancouver, Canada, for analysis. Au and Ag were analyzed by fire assay with AA finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following four acid digestion. Irving staff are responsible for geologic logging and sampling of core. Au equivalent is calculated by adding Au (gpt) to Ag (gpt)/72.
Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
Akiko Levinson, President, CEO & Director
Forward-looking information Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation including, without limitation, statements as to the timing of receipt of the results of drill samples and planned exploration activities. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry, the availability to Irving of sufficient cash to fund any planned drilling and other exploration activities, as well as the performance of services by third parties.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Joining us for a conversation is David Cole, the CEO of EMX Royalty (NYSE: EMX | TSX.V: EMX), the Royalty Generator.
Maurice Jackson:
Honored to have you with us today sir, as you have some breaking news for shareholders, as EMX Royalty has just consummated a watershed moment with the announcement of the Royalty Portfolio purchase agreement with SSR Mining (Press Release). Mr. Cole, thank you for allowing me to be the first to say congratulations’ sir on a significant milestone on what may be the biggest company event in the history of EMX Royalty.
David Cole:
We are very pleased with this transaction, pleased to have SSR Mining as a shareholder in the company, and it’s been a pleasure to work with them.
Maurice Jackson:
Let’s get right into the press release, the EMX Royalty acquisition consists of 18 geographically diverse royalties with 4 royalty assets at advanced stages of project development. Please provide us with the details of the Royalty Purchase Agreement with SSR Mining.
David Cole:
Well, we’re paying $66 million upfront for this portfolio, $33 million in share capital, and $33 million in cash, which are deferred payments depending upon the performance of the Yenipazar net profit interest royalty in Turkey. Those deferred payments accumulate up to $34 million, but that’s not until that asset cashflows $20 million. We’re pleased with respect to how this is designed. This gives SSR Mining a nice chunk of equity in the EMX which is one of the key things that they were looking for when they chose us to sell the Royalty Portfolio.
Maurice Jackson:
What type of value creation will EMX derive from this transaction and how will it impact the synergies with the existing EMX initiatives around the world?
David Cole:
One of the key things here is immediate large cash flow. The Gediktepe mine which is at the final stages of construction and should be in production within a month or two has a high-grade oxide cap that’s gold enriched with a 10% NSR and we’ll see immediate gold royalty income over double-digit millions of dollars per annum from that royalty right out of the gate. We’re very, very pleased with that so this really propels at the top of our pyramid forward, which is something that we’ve been working on for some time as we’ve discussed previously, with respect to Synergies with our existing portfolio, and one of the reasons why we were able to grab this is because of our relationships in Turkey and our comfort with Lydia as an operator there. And that gave us an edge with respect to working with SSR to accomplish this deal.
Maurice Jackson:
One of the key aspects of this transaction along with all of EMX Royalties is something you’ve covered with us and that is the value proposition of embedded optionality, which is just icing on the cake for each of your royalty properties. Can you please elaborate on the virtues of embedded optionality within royalties?
David Cole:
It’s one of my favorite topics and it’s the reason why royalties traded such premium valuations is because of all the embedded optionality, commodity price optionality, discovery optionality, engineering advancement optionality, et cetera, et cetera. And mining districts have a history of giving and giving and it’s always to the benefit of the royalty holder and no cost to the royalty holder. So that’s why royalties are so dear and I will point out that royalty companies that have large numbers of royalties trade at a much higher valuation per royalty than royalty companies, so the lower number of royalties, this is a phenomenon that’s existed in the royalty sector now for some time. Where the portfolio effect impacts the overall valuation of that portfolio and that’s because of this multiplicative optionality of the entire portfolio. You never know where the big success is going to come from years out.
David Cole:
As you know our goal here is to continue to grow this portfolio through organic methods which we’re good at and have had a track record for 18 years of doing, but also through acquisition. And we’ve been challenged quite honestly, to accomplish big creative acquisitions because it’s a competitive space. That we’ve been very patient. We stood at the plate and they kept throwing more pitches at us and we found one to hit and hit it out of the park.
Maurice Jackson:
Great way to put it, sir. I referenced a watershed moment. Where does today’s press release rank with the relation to the Malmyzh and/or the Timok?
David Cole:
Well, that’s interesting certainly the value proposition of the Timok acquisition is unbeatable because we paid $200,000 Canadian dollars for a royalty that’s going to pay hundreds of millions. So that one’s astonishing, but that had to do with the fact that we were in that district and understood what was going on there very early in the history of the discovery and were able to acquire that royalty early on thanks to our geologic understanding of the region. That’s a tough one to compare. With respect to the Malmyzh transaction that was a fantastic deal that cashed-up EMX and put us in a position where we could do this deal.
David Cole:
And step-by-step we’re building this company. Very pleased with these transactions. Malmyzh was super accretive for us. As you know, we booked $67 million US dollars out of that deal and have put those monies to excellent work. This being the top example. You and other folks have asked me many, many, many times, “What are you going to do with the money, Dave, what are you going to do with the money”? We just kept looking and turning down opportunities and losing sales processes because our bids weren’t as high as our competitors until the right one came along. And one of the key aspects that made this deal happen, as I mentioned, is the fact that SSR specifically wants to be a shareholder in EMX. And I’ve said before that the right transaction that’ll really advance this company is going to be one where the major companies selling their royalties understand the value proposition that EMX offers and want to be a contributor, want to be a member of the team.
Maurice Jackson:
Speaking of the Timok, which is a company making event in and of itself, what are the latest developments there?
David Cole:
It’s going into production. I do believe that they had a couple of delays. So they were originally talking about an opening ceremony in June. I believe that’s been pushed back to August at this point, maybe September, but that’s still ahead of the original schedule. The Chinese have been very aggressive. It’s advancing into production.
Maurice Jackson:
Leaving the property bank Mr. Cole, please provide us with the capital structure for EMX royalty.
David Cole:
Well, we’re sitting here today with $84 million shares issued and outstanding and few over $90 million shares fully diluted. That’s not including the shares that we will issue to SSR, which on a pro forma basis will be approximately 12% of the company. So that’ll push us up towards the 95 issued outstanding and over a hundred million fully diluted at the completion of this transaction, which should hopefully occur within four to five weeks in my opinion. Sitting here today with about $30 million US dollars in cash, of course, those monies get paid to SSR as part of this transaction as well.
David Cole:
We have about $20 million in tradable securities and long-term investments in our portfolio as well and no debt at this time. However, we will be taking on a small $10 million debt from Sprott. We appreciate their support as a capital partner for EMX. They’ve helped us out in the past as well. That puts us in a situation where even though we’re putting out USD $33 million to SSR for this transaction, thanks to Sprott we’ll still have a nice cushion here with respect to money in the treasury to continually advance our organic growth, which is our job one, as you know.
Maurice Jackson:
Just for the record, ladies, and gentlemen, I plan to match my bullion purchases with shares and EMX royalty. I believe the company has the potential to melt-up. And I’m talking about the stock price of course. The stock price, in my opinion, is at a fire sale. And that is Maurice Jackson’s opinion, but not really just my opinion, Mr. Cole, you and I both know some of the most prominent names in the natural resource space. They share the same sentiment about EMX royalty.
David Cole:
Happy to have those guys on as contributors.
Maurice Jackson:
Yes, sir. In closing, what would you like to say to shareholders?
David Cole:
EMX Royalty is in a situation here today where the Bayla royalty of 4% royalty on the lead, zinc, silver mine in Turkey is coming into production. Zijin is advancing the Timok project towards production, of course, Leeville in the background that pays every month. And we have an immense amount of optionality within our pyramid is bubbling up towards the top. And these names I’m throwing out are just examples of that. We’ve talked about the potential for this to become a cash cow over time. We’ve just poured fuel on the fire. We put gasoline on the fire here with this one and the Gediktepe 10% NSR and the oxide gold cap will just propel our gold income in the company here substantially over the next three years. We’re very excited.
Maurice Jackson:
Mr. Cole, for readers that want to get more information about EMX royalty please share the website address.
David Cole:
www.emxroyalty.com -The contact details for myself, Scott Close, and Isabel Belger managing European investor relations, and Scott here in North America are embedded in the website and on the press release feel free to reach out to us.
Maurice Jackson:
Mr. Cole, it’s been a pleasure speaking with you, wishing you and EMX royalty the absolute best, sir.
David Cole:
Thank you, Maurice. Always appreciate your support.
Maurice Jackson:
And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com. Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.
