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VOX Royalty – Massive Portfolio Consisting of 8,000 Royalties

Maurice Jackson:

Joining us for conversation is Kyle Floyd, the CEO and Chairman of Vox Royalty (TSX.V: VOX | OTCQX: VOXCF). Sir, it’s a pleasure to speak with you today, as we deep dive into the value proposition of Vox Royalty, which offers a smart way to invest in commodities. Before we begin, Mr. Floyd, please introduce us to Vox Royalty and the opportunity the company presents to shareholders.

Kyle Floyd:

Vox Royalty Corp has been around since 2014. Our business model focuses on buying third-party royalties, which we believe is the most value-enhancing way to play the commodity sector. And so, we have built what is the fastest-growing royalty company on the planet. We also believe one of the royalty companies trading at the most attractive valuations, and we have a management team and business entirely engaged and finding deep value by buying these third-party royalties all around the world.  And we’ve been very, very successful in building Vox Royalty for our investors over the last eight years.

Maurice Jackson:

Before we take a step forward, let’s take a step back. What are some of the merits of royalty companies for shareholders?

Kyle Floyd:

Well, royalty companies offer a better risk-adjusted way to play commodity exposure. And there are a couple of key reasons for that. Royalties typically are revenue interests essentially that run with the mining assets. And so you take a top-line percentage interest in these projects. You’re not exposed to a lot of the costs and the risks that these mining companies face, which can be quite significant. If there’s a cost overrun, the royalty company gets to continue to generate its revenue from the project without having to fund any of the projects or being diluted. If that underlying entity needs to raise capital.

The other costs that the mining that the roads and conveys are not associated with the mining companies face are the general input costs, the variable cost structure, whether it’s for fuel people, you name it, all the inputs that go into mining companies, all those costs are increasing and royalty companies are exposed to that.

The other benefit, then, on the upside is there’s a lot of diversification you get from royalty companies. Vox Royalty has 5 production stage assets going to 10 production stage assets and beyond means that we’re diversified across a suite of assets. And so we don’t have single asset risks that you have in a lot of mining companies. So a lot less risk, but a lot of the same upside, if not better upside that you realize in mining companies in the form of metal prices going up helps increase the value of royalty companies, increase in production, increases in reserves, increasing resources. All of that goes to fuel royalty company growth. And we’re not on the hook for any of those costs in terms of building out those assets further. So that’s a quick synopsis on why we’re so bullish on royalties and we believe that’s backed up in the market as well to companies that outperform for the better part of the last two decades.

Maurice Jackson:

One of the virtues of royalty companies, several embedded optionality. And speaking of royalties, to truly appreciate the value proposition of Vox Royalty, Mr. Floyd, what is a royalty juxtaposed to a stream? We hear those terms often, but they get co-mingled, but they’re not the same.

Kyle Floyd:

That’s a great question. Royalties are these third-party interests. So, interest not held by the operating party of the mining company, they’re the prospector or the junior mining company or the family that owned a ranch that sold the asset eventually to the mining company and typically retained a royalty, which was that right in the upside of revenue generated for these mines typically for the life of those mines. A stream is a structure where you’re typically financing a mining company, and the counterparty is the mining company. You’re giving them capital and in return, you are taking a percentage of a certain metal that’s generated from that opportunity.

And you’re continuing to remit payments to get that metal over the life or over the term of that commercial arrangement. The big difference is typically on streams. You’re giving money to a mining company, so you need them to meet capital versus our royalty model. We’re not giving money to the mining company. We’re purchasing a right held by a third party. And typically those are non-core assets for these groups. Therefore, we’re not restricted by mining companies needing capital to find really interesting deals for our investors.

Maurice Jackson:

Now that we have a better understanding of the merits of royalty companies, Mr. Floyd, what differentiates Vox Royalty?

Kyle Floyd:

There are a few things that differentiate Vox Royalty and we built a business model to be differentiated, to offer better risk-adjusted exposure for investors. And one of the key differentiators is we focus exclusively on buying third-party royalties. We don’t compete at the big end of town trying to finance multi-billion dollar projects with streams. Our niche is finding third-party royalties all over the globe. We have a database that has 8,000 proprietary royalties that provide us a roadmap for finding great royalties in jurisdictions that range from West Africa to Australia, to North America, to South America. And we use a technical team made up of mining engineers and geologists that help screen for good projects that have these amazing royalties over them. And then we connect with these owners of these projects, with our deal sourcing agents all around the world to be able to transact on these opportunities.

Vox Royalty built this ecosystem, this business model around finding third-party royalties, where we think the best value is generated. And if you look at the historical returns of the Franco’s and the Royals, that’s where they’ve generated the best returns, buying these third party royalties, much less the streams and the financing of mining companies that have been completed over the last decade. That being said, they performed very, very well overall. And so that is our business model. Third-party royalties finding amazing assets with great royalties over them, all around the world. And those three kind of key pillars of that stool, the deal sourcing agent network that I think goes farther than probably anybody in our range, the technical team, and intellectual property in the form of a database. And all those combined to make us what has been the fastest-growing royalty company. And I believe also at the best value over the last three years.

Maurice Jackson:

Speaking of the database, Vox Royalty owns one of the world’s largest proprietary royalty databases, consisting of over 8,000,  most of which are located in Australia, Canada, and the USA. Mr. Floyd, please introduce us to Vox Royalties property bank.

Kyle Floyd:

It’s a very exciting asset for us, and it’s a huge competitive advantage. Our database has been built over the better part of the last 10 years. Vox was building our database and building our intellectual property. But one of the things that we were acutely aware of is there was the potential that someone was farther ahead of us in terms of this effort to build out proprietary advantages in finding third-party royalties. And sure enough, there was a company that was farther ahead, and that was a company called Mineral Royalties Online.

So they had, at that time, it was a database of 7,000 third-party royalties in their database, all around the world. They had built this database bottoms-up through first principles and first-party data. They went into different mining ministries and exploration offices all around the world and made deals to essentially get this hard copy data and then translate that into data that was online. And so we purchased that database in 2019, that has underpinned a lot of our success and our growth rate. And so that database gives us an edge all around the globe in terms of finding these third-party royalties and being able to transact and closes and bring those into the portfolio.

Maurice Jackson:

I see that Vox has undertaken a keen interest in Australia. Why Australia?

Kyle Floyd:

Well, there’s not just one reason for Australia. There’s a lot of reasons for us in Australia. Australia is, and we’re slightly biased, but it’s also backed up by a lot of the third-party rating agencies, is one of the best, if not the best, mining jurisdictions on the planet. According to the Fraser Institute, Western Australia, which is home to most of our royalties, is the best mining jurisdiction. Investors understand the value of Nevada royalties because Australia is a better mining jurisdiction, in our opinion. We believe Australia is the place that you want to have significant exposure to, complimented by our IP, which has a very strong basis in Australian royalties, and technical team, three of our four key Business Development Executives are also Australian citizens. We understand what we believe is the best major mining market, as well as anybody, if not better than anybody else.

We’ve accumulated what is now the second-largest holding of hard rock mining royalties in Australia. And that’s significant because Australia, beyond just being a fundamentally great jurisdiction with great golden endowments, it has had a very buoyant gold price in Aussie dollar terms. It’s been trading at almost all-time high prices in Aussie dollars for the last almost four years. And so what’s happened is a lot of the exploration development projects that we forecasted would do well have exceeded expectations because the buoyant equity markets have allowed these companies to raise as much capital as needed to advance these projects. And so it’s been a huge boon to our business in terms of the growth of assets already in the portfolio, and having them grow ahead of expectations and realizing tremendous value for our investors. And so, us picking Australia as a place to focus on has paid off for our shareholders.

Maurice Jackson:

Sounds quite intriguing. Now within the property bank, Vox Royalty has producing assets and a pipeline of growth assets. Sir, please acquaint us with your top three key producing assets beginning in Australia.

Kyle Floyd:

This year we acquired the Janet Ivy, and we were engaged on it before it goes back into production. It’s now in production, but it has a huge expansion plan ahead of it, which we expect to take place late next year and that’ll make it a very, very significant cash flow for us. We also have the Koolyanobbing Royalty, which we bought from a telecom business, If you can believe that. It was held in one of their subsidiaries for a very long time, and we’re engaged on a pre at going into production.

That’s had a huge run and huge growth, obviously with the iron ore up in prices. And then we also have a host of other royalties that are in production, Coure Resources, Higginsville operations. We have three open-pits that feed that mill. And so that’s been running at a record pace for us. And then one that we’re excited about is the Segiolola Project that we bought pre-production. It is the highest-grade open-pit gold project in West Africa, and they just announced the first gold pour. So we expect to see revenue from that asset in Q4. So really a tremendous amount of growth in our portfolio from producing and production stage assets.

Maurice Jackson:

We’ve covered the key producing assets. Sir, please introduce us to the growth assets of your property bank.

Kyle Floyd:

I could go on for days about our growth assets. I’ve got to work hard to kind of narrow it down for the readers. I’ll name a couple that I’m excited about. The Ashburton is one. When we bought that royalty, which was in the portfolio of Northern Star. It was a little bit sleepy, but we saw a huge potential in the asset. And what we believed would eventually happen was that other Northern Star would start upping the development curve on this and the timeline on it, or it would transact to a more nimble junior. And sure enough, that happened just a few months after the acquisition of this royalty. The Ashburton is a 1.65 million-ounce gold resource in Western Australia. It’s owned by Calamos Resources now. They’ve got 12,000 meters of drilling going on and their target is three plus million ounces for this asset. So that’s a really exciting NSR royalty for us.

The other one that I’m excited about is The Bowdens Project, which is the largest developing primary silver project in all of Australia. It’s got great fundamentals. The Bowdens Project is an open-pit that’s now exploring the very strong potential to go underground either after the open-pit is exhausted or contemporaneous with open-pit mining. And that is a royalty that has a very multi-decade mine life potential. So those are a couple of the key development stage assets that we’re excited about.

We also have a host of royalties that are going to be coming into production in the very near term. The Pitombeiras is a Vanadium Project in Brazil that they are expecting to come into production in the first half of next year. The Bulong Gold Project is a development stage, production stage asset that’s expected to go into production in mid, next year, over Western Australia Gold Project. And then there’s many more that we can get into without belaboring the point that we have a tremendous amount of growth assets. We have 20 plus development-stage assets, many of which are aggressively moving forward. So it’s a fantastic portfolio of assets with real growth in front of it that’s being delivered to the market every quarter. And that’s increasing value for shareholders.

Maurice Jackson:

Realizing this is a forward-looking statement. We’re going to get into some members later in this discussion, but how much revenue potential is before us under the current market conditions, if we combine the producing and the growth assets?

Kyle Floyd:

And it’s very much a forward-looking statement. I would caution on that. We’ve done a fantastic job of finding royalties 3 to 24 months out before production, where we find the really good value we’re able to bring in those assets that are good fits within our portfolio. We take away the risk from the disparate holders of these third-party royalties all around the world on their non-core assets. So there’s risk asymmetry. They fit better in our portfolio. They don’t fit as one-off assets. And so we’re able to find really good value all around the world, finding these near-production assets. We came out and I think we’ve validated that business over the last 12, 18 months. We recently doubled revenue guidance. We’ll probably talk about that more, but that’s really on the basis that we’re finding these royalties pre-production and then allowing them the time. And usually, it’s not a very long time to go to get into production.

And so when we step out and look at our portfolio, I believe that there’s $15 to $20 million of long-life revenue potential in the portfolios. There’s reason for tremendous upside on that number as well. And that there are 15, 20 exploration stage assets. Some that are generating bonanza grade drill hits are increasing the possibility that those are going to become mines. So very active exploration projects that would kind of fuel growth on top of that. But I believe it’s one of the most undervalued royalty portfolios out there as very strong potential to generate that type of cash flow over the medium and long term. But again, I caution that it was a forward-looking statement. Those are numbers based on operator guidance. They’re based on the technical engineering studies that, that coincide with these assets. But we feel very good about the revenue-generating capability of this portfolio.

Maurice Jackson:

Now germane to revenue, how do mergers and acquisitions impact your portfolio?

Kyle Floyd:

Vox Royalty has a very disciplined approach to acquisitions. We have not the best of our knowledge have not won a single royalty in a sales process. Most royalty companies, in fact, almost all royalty companies, have been growing their business by winning sales processes. So that’s royalties that are being shopped by investment banks and they’re paying top dollar pretty much in every scenario to bring those royalties in the portfolio. What we do is we’ve built a business around finding, these third-party royalties, and disparate shareholders all around the world where these are non-core assets. And so we’ve been able to transact it a really good value. We’re very disciplined on what good value looks like. It has to be accretive across kind of three different key metrics: absolute return on investment basis, relative net asset value, and relative cash flow multiples. Most royalty companies cannot stack up to what Vox is accomplishing in terms of acquisition that’s bringing in across those three metrics. Usually, one, if not two, if not all, three of those metrics break down when other royalty companies are purchasing third-party royalties like we are.

Maurice Jackson:

Now, before we leave the property bank. The multilayered question, what is the next unanswered question for Vox Royalty? When can we expect a response and what will determine success?

Kyle Floyd:

Well, the next step for Vox is we continue to invest in our loyalty database. We will continue to build on that competitive advantage. It’s fueled a lot of our growth and given us a huge leg up on the competition. So we continue to invest in that asset for us, we continue to expand our relationships around the globe. We are finding interesting royalties from Australia to South America, to West Africa and everywhere, pretty much in between. And so, from Vox and what you’ll continue to see on us is expanding on that competitive advantage, expanding on the capability to find really good value for our investors on really exciting projects, where our mining engineers and our geologists understand the quality of those assets so that your readers and the generalist audience out there does not have to do that work. And I think that’s a big advantage that we present for investors is this competitive advantage, that’s good to find a good value.

Maurice Jackson:

Leaving the property bank. Let’s discuss the people responsible for increasing shareholder value. Mr. Floyd, please introduce us to your management team.

Kyle Floyd:

I’m excited about our management team, we’ve handpicked and recruited the management team that we have to fill the roles that we believe needed to be filled over the years to create shareholder value. I founded the concept back in 2013, 2014, and with the belief that we needed to have competitive advantages and skillsets that increase shareholder value and the capability to do so. And so, a few of our key management team members, Spencer Cole is our Chief Investment Officer with a background as a mining engineer, previously worked at South 32 and BHP, and BHP is where the Mineral Royalties Online business, the inspiration was found. Riaan Esterhuizen, who is one of our Executive Vice-Presidents out of Australia. Riaan’s a geologist, Riaan’s led some of the most interesting grassroots exploration campaigns for the who’s who of majors. They went about building Mineral Royalties Online. They built that business. They came into Vox and we acquired that business. And that’s been a huge part of our success. Simon Cooper has been with us for a very long time. Simon’s a mining engineer, a geologist, entrepreneurial, and brings a significant amount of technical capability. He’s worked with some of the most interesting projects all around the world, but also has a very good skill set in terms of finding acquisitions to bring in those acquisitions into our portfolio. And then we have a great CFO in Pascal Attard, and a great General Counsel in Adrian Cochrane. So we believe that we’ve built one of the most exciting and capable management teams in the small-cap royalty space. And it’s a huge asset for our business and our investors.

Maurice Jackson:

And here’s an opportunity to brag on yourself, who is Kyle Floyd, and what makes him qualified for the task at hand?

Kyle Floyd:

It’s always hard to talk about yourself. I’m supposed to be talking about others. But just a little bit about my background. I ran the Mining Investment Banking Division for a firm called Roth Capital. And the inspiration to build Vox was around helping mining companies raise capital, but then seeing that capital not get deployed in the right means and the right ways. And at the end of the day, not generating great risk-adjusted results for investors. And so I’d advise multiple companies on selling streams and royalties and acquiring streams and royalties.

And I believe that was the best business model for the generalist investor to get exposure to commodities. And I went about building a business model for investors, by investors? We started with a seven and a half million dollar investment and began building this company around generating better risk-adjusted returns in the commodity sector. And we’ve been very successful at doing so. And so that’s a little bit of my background. I graduated in Finance from the University of Washington, then a stint at Colorado School of Mines in the Mineral and Energy Economics Department, but a business built around achieving great risk-adjusted returns for our investors.

Maurice Jackson:

Switching gears, let’s look at some numbers, Mr. Floyd, please provide the capital structure for Vox Royalty.

Kyle Floyd:

Vox Royalty has a tight share structure of 39 million shares issued. We, when we went public in May of last year, we had to forward split the stock, which I would tell you, is almost an anomaly in the resource sector. We have 5 million warrants outstanding, at this stage they have a strike at $4.50, which is out of the money as we speak today, and no debt and a very, very strong working capital position. Vox is very well-financed. We have a tight capital structure. We have no intentions of going back to the equity markets anytime soon, and we will continue to be able to build our asset portfolio combination of debt and strategic acquisitions and minimize dilution in doing so. So I’m excited about where our capital structure is today for investors. I think it’s a very unique opportunity from that perspective,

Maurice Jackson:

Who are some of the major shareholders?

Kyle Floyd:

We’ve done a pretty good job of cultivating a nice institutional shareholder base. Management owns 15%. The founding investors own another 15% to 30%. And then we’ve got a nice institutional shareholder roster made up of Konwave, US Global, Adrian day, EuroPacific Gold Fund, and many others that have taken positions in us over the last year and a half.

Maurice Jackson:

In closing. Mr. Floyd, for current and prospective shareholders, why Vox and why now?

Kyle Floyd:

Vox, I believe is a tremendous opportunity emboldened by the fact that we are trading at the very low end, the relative valuation spectrum versus our peers. If you look at some of our closest comps, I’ll refrain from naming them, but they’re trading at multiples of our relative valuation. Yet we’re growing faster, we’re growing at a better value. We’re growing with better fundamentals. And we have competitive advantages that a lot of the industry wishes that they had. And so I believe we’re a tremendous growth opportunity. There is a lot lower risk given our lower relative multiple. So the risk of return upside, I think is there. We’re very optimistic about what we’re going to be achieving for investors over the immediate future and the long term. You have a management team that’s committed to the success of this business owning 15% combined. We look at this as solely an opportunity to create long-term shareholder wealth. And I think our business model is achieving that for our shareholders every day.

Maurice Jackson:

Last question. What did I forget to ask?

Kyle Floyd:

I think we’ve covered just about everything, and it’s really about finding the best risk-adjusted way to play commodities. That’s why we’re here. I believe we’re offering that for investors. We’ve continued to demonstrate that with our recent quarterly results and investors expect more of that as we continue to progress and build this business. And what I believe is realized a re-rating for our shareholders. And even if we don’t, we’re going to continue realizing and create value for our shareholders, and it should also be reflected in the share price and our share value at the end of the day.

Maurice Jackson:

Mr. Floyd, for someone that wants to learn more about Vox Royalty, please share the contact details.

Kyle Floyd:

Absolutely. Voxroyalty.com. We’re on all the social media channels as well. We are happy to engage. There’s also, IR@voxroyalty.com. Please, feel free to be in touch. We love engaging with our investors, and we’ll be happy to share more information.

Maurice Jackson:

Mr. Floyd, it’s been a pleasure to speak with you. Wishing you and Fox Royalty the absolute best sir.

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.

Categories
Junior Mining Precious Metals

Lakewood Exploration Closes the Transaction to Acquire the Eliza Silver Project in the Historic Hamilton District and the Silverton Silver Mine in Nevada’s Prolific “Silver Alley”

VANCOUVER, British Columbia, Sept. 03, 2021 (GLOBE NEWSWIRE) — Lakewood Exploration Inc. (CSE: LWD) (the “Company” or “Lakewood“) is pleased to announce that, further to its news release of August 9, 2021, it has completed the transaction (the “Transaction”) to acquire 100% of the issued and outstanding shares of BCCO 1304562 B.C. Ltd. (“BCCO”), including 100% interest in the Eliza Silver Project and the Silverton Silver Mine Eliza Silver Project and Silverton Silver Mine.

“With the closing of this transaction, our exploration team is now able to commence an initial geological program to identify high priority targets at both of these assets, neither of which have been explored using modern exploration methods such as geochemistry and geophysics,” stated President, Morgan Lekstrom. “The existing historic underground workings, historic production and sampling results outline numerous areas of surface mineralization, which will be our initial focus as we continue our data-driven approach to expanding target areas.”

About Lakewood Exploration Inc.https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.html

Lakewood Exploration Inc. 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 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 meters below surface. Lakewood strives to become a multi-mine silver producer.

On Behalf of the Board of Lakewood Exploration Inc.

Morgan Lekstrom, President

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
Contact: Kristina Pillon, President, High Tide Consulting Corp.
604.908.1695 / investors@silverhammermining.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The Canadian Securities Exchange has not in any way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

The securities to be issued in connection with the Proposed Transaction have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements may include but are not limited to, statements relating to the Company’s ability to complete the Proposed Transaction on the terms announced or at all. Such statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available.

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Base Metals Energy Junior Mining

Glencore Nominee Appointed to Board of Hot Chili

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to confirm the appointment of Glencore’s nominee, Mr Mark Jamieson, to the Board of Hot Chili.

Mr Jamieson is currently General Manager Resource Engineering for Glencore’s global copper asset group leading technical support and governance in geology, mine engineering and asset optimisation for development projects, operations and JV’s.

Mark’s appointment follows Glencore’s investment to acquire a 9.99% shareholding in Hot Chili through the Company’s recent A$40 million capital raising, as announced to the Australian Securities Exchange (ASX) on 6th August.

Mark brings 20+ years of technical and project experience in open pit and underground operations, including sub level and block cave mines with Newcrest, MMG and Barrick Gold across Australia, Africa, South East Asia and South America.

Mark holds a bachelor’s degree with honours in Geotechnical Engineering from RMIT University, and a Masters of Engineering Science in Mining Geomechanics from The University of New South Wales.

The Directors welcome Mark’s appointment and look forward to the addition of his strong skillset and experience to the Board of Hot Chili.

To access the announcement please click on the link below.

Download full announcement here

Cortadera Copper Project

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

P: 08 9315 9009

Categories
Base Metals Energy Junior Mining Uncategorized

Executive Studies Manager Appointed to Lead Costa Fuego Copper-Gold PFS

Hot Chili Limited (ASX: HCH) (OTCQB: HHLKF) (“Hot Chili” or “Company”) is pleased to confirm the appointment Mr John Hearne in the role of Executive Studies Manager. 

Mr Hearne will be responsible for driving the Company’s Costa Fuego Pre-feasibility studies (PFS) and managing all aspects of the Company’s development group.

Mr Hearne is a mining engineer with over 35 years’ experience spanning production roles to executive directorships with leading mining and consulting companies including Snowden, Wood (Amec Foster Wheeler), Coffey Mining, BHP Billiton, North Ltd, Henry and Walker, and Mount Isa Mines.

Mr Hearne’s appointment significantly strengthens Hot Chili’s executive management team by adding expertise in managing all facets of mining projects from early-stage studies through to full scale operations for both underground and open cut mines.

Mr Christian Easterday, Managing Director of Hot Chili, said

“The Board would like to welcome John to the leadership group of our Company.

We look forward to John’s strong contribution as we continue to evolve and expand our capabilities toward establishing Hot Chili as an emerging major copper miner in the coming years.”

To access the announcement please click on the link below.

Download full announcement here

Cortadera Copper Project

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

Categories
Junior Mining Precious Metals Uncategorized

Lakewood Exploration Prepares for Phase 1 Drill Program with Underground Rehabilitation Now Underway at the Silver Strand Mine

Figure 1

Underground scoop moving blasted rock at Silver Strand
Underground scoop moving blasted rock at Silver Strand
Underground scoop moving blasted rock at Silver Strand

Figure 2

Underground drilling underway to establish new drill bay at Silver Strand
Underground drilling underway to establish new drill bay at Silver Strand
Underground drilling underway to establish new drill bay at Silver Strand

VANCOUVER, British Columbia, Sept. 01, 2021 (GLOBE NEWSWIRE) — Lakewood Exploration Inc. (CSE: LWD) (the “Company” or “Lakewood“) is pleased to announce that it has engaged Coeur d’Alene Mining Contractors to perform minor rehabilitation work ahead of a Phase I drill campaign, which is expected to commence in the coming weeks at the Company’s flagship past-producing Silver Strand Mine in the Coeur d’Alene mining district of Idaho.

The contractor will bring the mine into United State Mine Safety and Health Administration (MSHA) compliance, complete rehabilitation works, develop 45 feet of underground drift (see Figure 1) and open up a 15-foot by 15-foot drilling bay (see Figure 2) to allow for an underground exploration drill to efficiently and more accurately test the potential orebody and its depth potential.

Lakewood is on track to commence its Phase I, 2500-3000 metre drill program at Silver Strand before the end of Q3/2021, which will include both underground and surface core drilling.

“The underground rehab work brings this historical mine area into MSHA compliance, while concurrently establishing a more cost-effective way to test the depth potential at Silver Strand through underground drilling,” stated President, Morgan Lekstrom. “This rehab work will also provide us with future drilling and potential development opportunities as we define the depth and plunge of the orebody and surrounding sub-parallel veins. We believe the depth potential beyond the 90-metre level where historical mining concluded is significant, and we look forward to initiating our inaugural drill program at the Silver Strand Mine in the coming weeks.”

https://www.globenewswire.com/NewsRoom/AttachmentNg/047b2d3a-217d-4054-9eca-9b45f53109ee

Figure 1: Underground scoop moving blasted rock at Silver Strand

https://www.globenewswire.com/NewsRoom/AttachmentNg/0257f09b-a253-4270-a83c-39453e0c8669

Figure 2: Underground drilling underway to establish new drill bay at Silver Strand

About Lakewood Exploration Inc.

Lakewood Exploration Inc. 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 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 meters 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 properties.

On Behalf of the Board of Lakewood Exploration Inc.

Morgan Lekstrom, President

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
Contact: Kristina Pillon, President, High Tide Consulting Corp.
604.908.1695 / investors@silverhammermining.com

The CSE does not accept responsibility for the adequacy or accuracy of this release.

The Canadian Securities Exchange has not in any way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.

Categories
Base Metals Energy Junior Mining

Nevada Copper Provides Operations and Financing Updates

YERINGTON, Nev., Aug. 31, 2021 (GLOBE NEWSWIRE) — Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (“Nevada Copper” or the “Company”) today provided an update regarding operations at the underground mine at its Pumpkin Hollow project (the “Underground Mine”), as well as an update on financing matters. All amounts below are stated in US dollars.

Operations Update

  • Stoping and Lateral Development: Development and penetration through the water bearing dike has now been completed on the first crossing. Lateral development beyond this crossing is now into solid ground at a pace consistent with mine plan rates focused on establishing production from the East-North deposit. In addition, with steel support beams recently installed, a second crossing is expected in the coming weeks, further enhancing development rates.
  • Stoping: The Company has mined the second stope in the Alphabet Zone at a CuEq grade of 1.45% with backfilling scheduled to start in the coming week.
  • Surface Ventilation Fans: Delivery of the surface fans remains on schedule with installation and commissioning expected to be completed in Q4 2021 with sustainable hoisting rates of 3,000 tpd expected to follow.

“We are pleased to have completed our first crossing of the water dike enabling our development rates to increase in line with our mine plan expectations,” stated Mike Brown, Interim Chief Executive Officer of Nevada Copper. “We look forward to continued production rate increases in Q3 and Q4 of this year.”

Financing Update

  • KfW Credit Facility Amendment Discussions: On August 31, 2021, the Company received an extension of the waiver from KfW IPEX-Bank (“KfW”), the Company’s senior project lender, to September 30, 2021 to complete the project completion test (the “Project Longstop Date”) under the amended and restated credit agreement (“Amended KfW Facility”). The Company is in discussions with KfW regarding a longer-term extension of the Project Longstop Date into 2023; deferral of debt servicing by up to twenty-four months; and the deferral of certain financial covenants under the Amended KfW Facility to further support the ramp-up of the Underground Mine. The Company expects to have the proposed extension and amendments finalized in the next month. However, there can be no assurance that such extension and amendments will be finalized by such times or at all. Failure to finalize the extension would result in the Company being in default under the Amended KfW Facility.
  • Additional $13M of liquidity: The existing Promissory Note provided by Pala Investments Limited, the Company’s largest shareholder (“2021 Promissory Note”) has been amended (subject to regulatory approval) to allow total borrowings of up to $55 million, providing an additional $13 million of liquidity to the Company. Further draws by the Company are subject to agreed use of proceeds. The 2021 Promissory Note has a maturity date of June 30, 2022, and bears interest at 8% per annum on amounts drawn. Pursuant to the amendment, the 2021 Promissory Note now provides for an arrangement fee of 6% on the full commitment amount of $55 million, which will be capitalized. The proceeds will be used to fund the development and ramp-up of the Underground Mine and related working capital needs. The amendment was reviewed and approved by a committee of independent directors of the Company.

Qualified Persons
The technical information and data in this news release was reviewed by Greg French, C.P.G., and Norm Bisson, P.Eng., for Nevada Copper, who are non-independent Qualified Persons within the meaning of NI 43-101.

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.

NEVADA COPPER CORP.
www.nevadacopper.com
Mike Brown, Interim President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179

Cautionary Language

This news release includes certain statements and information that constitute forward-looking information within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts are forward-looking statements. Such forward-looking statements and forward-looking information specifically include, but are not limited to, statements that relate to mine development plans, production and ramp-up plans, equipment installation, requested amendments to the Amended KfW Credit Facility, and regulatory approval of the 2021 Promissory Note.

Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Such risks and uncertainties include, without limitation, those relating to: the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; requirements for additional capital and no assurance can be given regarding the availability thereof; the impact of the COVID-19 pandemic on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; failure to obtain extensions under and amendments to the Amended KfW Facility; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rates increase; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labor disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2020 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 18, 2021. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements and information. The forward-looking statements and information contained herein are based upon assumptions management believes to be reasonable, including, without limitation: no adverse development in respect of the property at the Pumpkin Hollow project; no material changes to applicable laws; the ramp-up of operations at the Underground Mine in accordance with management’s plans and expectations; no worsening of the current COVID-19 related work restrictions; reduced impacts of the COVID-19 pandemic in the medium-term and long-term; no material adverse change to the price of copper from current levels; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. The forward-looking information and statements are stated as of the date hereof. Nevada Copper disclaims any intent or obligation to update forward-looking statements or information except as required by law. Readers are referred to the additional information regarding Nevada Copper’s business contained in Nevada Copper’s reports filed with the securities regulatory authorities in Canada. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. For more information on Nevada Copper and the risks and challenges of its business, investors should review Nevada Copper’s filings that are available at www.sedar.com.

Nevada Copper provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Categories
Blog Junior Mining Uncategorized

Where is Latin America Going?

Signature Resources, etc.

In these days of covid tyranny, it is hard to find a free place. Latin America has been my refuge. But what looks pleasant in the immediate does not have to have a bright future. Given that the USA is increasingly going woke, the future of Latin America does not look too good to me. That does not affect my investments, but I will increasingly look for higher upsides. Here is a speech that I gave last week at the MoneyShow:

On Investments

Signature Resources (SGU; C$0.09) has a very interesting project in Ontario. Be careful not to chase it, but linked here are my thoughts about it in a discussion with Cory Fleck and Shad Marquitz.

Jayant Bhandari

Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendation. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.

Categories
Junior Mining Precious Metals

StrikePoint Gold Exploration Update: Drilling Ongoing at High-Grade Porter Silver and Willoughby Gold-Silver Properties

Vancouver, British Columbia–(Newsfile Corp. – August 31, 2021) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to provide an exploration update for ongoing exploration during the 2021 field season at its 100%-owned Porter Silver and Willoughby gold-silver projects located east of the mining town of Stewart in British Columbia’s prolific Golden Triangle. The Company also announces that Carol Li has resigned from the Board of Directors.

StrikePoint’s President and CEO, Shawn Khunkhun states, “The Golden Triangle is home to some of the largest and richest silver mines on the planet, with over 800 million oz’s discovered to date. This drill program at Porter gives our shareholders exposure to the largest, historic pure silver producers in the Stewart area. Additionally, we continue to drill at multiple, high-grade gold-silver targets at Willoughby, expanding our program with an additional 2,000 meters planned. Finally, I would like to acknowledge Carol’s contributions to the board and wish her success with future endeavours.”

Over 3,700 meters of drilling in 15 core holes have been completed to-date, primarily from the Willoughby Property. All assays are currently pending.

Porter Silver Project

The primary objective of drilling at the Porter Silver Project is to continue to step out from high-grade silver mineralization that was historically mined and direct shipped from multiple structures on the Property: the Prosperity/Porter Idaho and Silverado Mines. Drilling will include targeting extensions to the past-producing D and Blind veins, testing multiple, parallel structures in single drill holes.

The Porter Project host two historically producing, silver-rich vein systems: the Silverado and Prosperity/Porter Idaho. They are located over two kilometers apart, outcropping on opposite sides of Mount Rainey, overlooking the town of Stewart. The Project is located strategically at the head of the Portland Canal, a deep-water port with year-round, ice-free access.

The initial discovery of silver mineralization on Mt. Rainey occurred in the early 1900s. Prosperity-Porter Idaho veins were the focus of the initial work. The mineralization consists of galena-tetrahedrite/tennantite-pyrite hosted in six parallel dipping shear zones, traced 200 meters on the surface and one kilometre down dip with widths between two and thirteen meters. Historic Company and government records document that high-grade silver ore was mined by the Premier Mining between 1929 and 1931 and produced 27,123 tonnes with recovered grades of 2,542 g/t silver (73.8 oz/ton Ag) and 1 g/t gold (yielding approximately 2.2 million ounces of silver). The ore was shipped to tidewater via an aerial tramway and direct shipped to smelters with no concentration required. These production records are historical in nature prior to NI43-101. StrikePoint has not independently verified the figures and they should not be relied upon.

Willoughby Gold-Silver Project

Due to visually encouraging mineralization at the Willoughby Project, StrikePoint has budgeted an additional 2,000 meters of core drilling, testing extensions to multiple high-grade targets. So far in 2021, drilling has targeted the Edge, Icefall, and Wilbie Zones as well as the new Sona-K zone, located 700 metes north of the ‘North Zone’. To-date, drilling as encountered visually encouraging structures and replacement-style mineralization with multiple phases of strong sulphide mineralization, primarily pyrite, pyrrhotite and sphalerite. Additionally, over 123 meters of channel sampling has been completed at Willoughby, including new areas that have been recently exposed by retreating glaciers.

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-staged Red Mountain Deposit owned by Ascot Resources. Strong, coarse-grained pyrite mineralization proximal to Goldslide porphyry at Willoughby that is visually similar to Red Mountain has been encountered in 2021 drilling.

The Willoughby Property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, similar to and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometre strike-length mineralization trend.

Qualified Person

The Qualified Person for this news release for National Instrument 43-101 is Marilyne Lacasse, P. Geo, technical Consultant. She has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The Company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, adjacent to Red Mountain deposit. The Company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director
604-602-1440
sk@strikepointgold.com

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor it’s 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.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Skyharbour Partner Company Valor Announces High-grade Sample Results from Hook Lake Project Field Program

VANCOUVER, British Columbia, Aug. 31, 2021 (GLOBE NEWSWIRE) — Skyharbour Resources Ltd. (TSX-V: SYH) (OTCQB: SYHBF) (Frankfurt: SC1P) (the “Company”) is pleased to announce that partner company Valor Resources Limited (“Valor”) has provided an update on results from the recently completed on-ground field program at the Hook Lake Project. A total of 57 samples were taken from across the Hook Lake Project with assay results now having been received. The results are highlighted by the assays from the Hook Lake (or Zone S) prospect which confirmed the reported historical high-grade uranium mineralization. A total of seven rock chip samples were taken from a historical trench located at the Hook Lake prospect, with four of these samples returning high-grade uranium assays (>6% U3O8) as well as highly elevated rare earth (>0.5% TREO*), silver (>50ppm) and lead (> 1.8%) assays. The samples are selective in nature with a high potential for bias and should not be considered as being representative of the overall mineralised structure or zone.

*TREO = Total Rare Earth Oxides = La2O3, CeO2, Pr6O11, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb4O7, Dy2O3, Ho2O3, Er2O3, Yb2O3, Y2O3

Hook Lake (Formally North Falcon Point) Project:
https://skyharbourltd.com/_resources/projects/Falcon-Point-Project.jpghttps://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

The Hook Lake Project consists of 16 contiguous mining claims covering 25,846 hectares, located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Skyharbour signed a Definitive Agreement with Valor Resources on the Hook Lake Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance of 233,333,333 shares of Valor.

Highlights:

  • Sampling results from the Hook Lake (Zone S) prospect returns:
    • 59.2% U3O8, 499g/t Ag, 5.05% TREO (11,797ppm Nd2O3 + Pr6O11 and 1,825ppm Dy2O3), 14.4% Pb (Float sample)
    • 57.4% U308, 507g/t Ag, 3.68% TREO (8,562ppm Nd2O3 + Pr6O11 and 1,676ppm Dy2O3), 14.5% Pb (Rock chip sample)
    • 46.1% U3O8, 435g/t Ag, 2.88% TREO (7,054ppm Nd2O3 + Pr6O11 and 1,139ppm Dy2O3), 8.8% Pb (Rock chip sample)
    • 6.92% U3O8, 0.81% TREO, 2% Pb (Rock chip sample)
    • 6.42% U3O8, 1.17% TREO, 1.8% Pb (Rock chip sample)
  • Anomalous rock chip sample results from West Way prospect with up to 0.64% U3O8 and molybdenum assays of 3.4% and 1.9%
  • Project wide review of rare earth and molybdenum potential currently being undertaken
  • Follow up field program planned to finalize and prioritize targets ready for drill testing

Sample results across the Hook Lake Property:

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Map 1: Samples results across the Hook Lake Property
Map 1: Samples results across the Hook Lake Property

The program was conducted by Dahrouge Geological Consulting Limited, and focused on validating and developing the geological understanding of the historic uranium occurrences, such as the Hook Lake (or Zone S) and West Way prospects. The fieldwork was also designed to follow-up on the new targets generated from the magnetic/VLF-EM survey completed in April and the priority anomalies identified from the detailed airborne radiometric survey completed in July.

Hook Lake (Zone S) Prospect:

A total of seven rock chip samples were taken from a historical trench located at the Hook Lake prospect, with four of these samples returning high-grade uranium assays (>6% U3O8) as well as highly elevated rare earths (>0.5% TREO), silver (>50ppm) and lead (>1.8%) assays. These samples were taken from in-situ uraninite mineralization within a biotite or psammitic gneiss. A boulder sample located approximately 300m east of the Hook Lake trench also returned high-grade uranium and rare earths with 59.2% U3O8 and 5.05% TREO.

The Hook Lake high-grade uranium (and rare earth) mineralization is interpreted to be located at a dilational trap/jog which has formed at the intersection of a northeast-southwest trending shear zone and a possible north-south trending structure (potentially a reactivated Tabbernor fault structure). This interpretation highlights the potential significance of the north-south trending Tabbernor fault system structures, several of which are interpreted to transect the project area. Besides the down-dip/down-plunge potential of the immediate Hook Lake target, there is potential for further structural targets of this nature along strike to the northeast and southwest from the Hook Lake prospect. This will be further investigated during on-ground follow-up work programs.

West Way Prospect:

At the West Way prospect, located approximately 6.5km north of the Hook Lake prospect, five grab samples of outcrop or subcrop were taken with three of the samples returning anomalous uranium assay results including 0.64% U3O8 from a quartz vein. Two of these three samples returned high-grade molybdenum with assays of 3.4% and 1.9% Mo.

The controls on mineralization at West Way are currently uncertain and more field work is required to improve the geological understanding and develop drill targets. However, the airborne magnetics suggest a spatial association with a N-S structural feature, and there are potential repeats of this structural setting along strike to the northeast and southwest of West Way. This will be further investigated during on-ground follow-up work programs, in addition to following-up on the elevated Mo assays.

Another 44 samples were taken from across the project area, including 9 samples from the Nob Hill prospect. Results from Nob Hill ranged from no meaningful mineralization to one grab sample of pegmatite that returned an assay of 280ppm U and 1.01% TREO.

A follow-up field program is currently being planned prior to finalize and prioritize drill targets. The field program is expected to take place in October, with drilling planned during the winter 2021/22.

About Hook Lake (previously North Falcon Point) Project:

Valor has the right to earn an 80% working interest in the Hook Lake Uranium Project located 60 km east of the Key Lake Uranium Mine in northern Saskatchewan. Covering 25,846 hectares, the 16 contiguous mineral claims host several prospective areas of uranium mineralization including:

  • Hook Lake / Zone S – High-grade surface outcrop with reported grades in grab samples up to 68% U3O8; a bio-geochemical survey carried out over the trenches in 2015 responded positively with along-strike anomalies 2 km to the northeast
  • Nob Hill – Fracture-controlled vein-type uranium mineralization on surface outcrop with up to 0.130% – 0.141% U3O8 in grab samples; diamond drilling intersected anomalous uranium in several drill holes with values up to 422 ppm U over 0.5 m
  • West Way – Vein type U mineralization within a NE-trending shear zone; grab samples taken from the surface showing contained variable uranium values including up to 0.475% U3O8 and drilling of the structure intersected the altered shear zone at depth, along with anomalous Cu, Ni, Co, As, V, U, & Pb
  • Grid T – Fracture-hosted secondary uranium mineralization in sheared calc-silicates and marbles in a 100 m x 20 m zone of anomalous radioactivity with grab samples having up to 800 ppm U
  • Alexander Lake Boulder Field – 30 biotite-quartz-k-feldspar pegmatite boulders NE of Alexander Lake; the best results include 360 ppm U, 1,400 ppm U and 1,600 ppm U respectively
  • Thompson Lake Boulder Field – Numerous radioactive boulders and blocks of pegmatized meta-arkose, pegmatite, and granite; the best value obtained was 738 ppm U from a granite boulder
  • NE Alexander Lake – Several calc-silicate, plagioclase-quartz granulite, quartzite, and meta-arkose boulders with up to 4,800 ppm U, 7,600 ppm Mo and 1,220 ppm Ni

The project area is in close proximity to two all-weather northern highways and grid power. Historical exploration has consisted of airborne and ground geophysics, multi-phased diamond drill campaigns, detailed geochemical sampling and surveys, and ground-based prospecting culminating in an extensive geological database for the project area.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Director, as well as a Qualified Person.

About Valor Resources Ltd:

Valor Resources Limited (ASX: VAL) is an exploration company focused on creating shareholder value through acquisitions and exploration activities.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects covering over 240,000 hectares of land. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high-grade uranium mineralization at the Maverick Zone that returned drill results of up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. The Company is actively advancing the project through drill programs.

Skyharbour has a joint-venture with industry-leader Orano Canada Inc. at the Preston Project whereby Orano has earned a 51% interest in the project through exploration expenditures and cash payments. Skyharbour now owns a 24.5% interest in the Project. Skyharbour also has a joint-venture with Azincourt Energy at the East Preston Project whereby Azincourt has earned a 70% interest in the project through exploration expenditures, cash payments and share issuance. Skyharbour now owns a 15% interest in the Project. Preston and East Preston are large, geologically prospective properties proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit.

The Company also owns a 100% interest in the South Falcon Uranium Project on the eastern perimeter of the Basin, which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. Skyharbour has signed a Definitive Agreement with ASX-listed Valor Resources on the Hook Lake (previously North Falcon Point) Uranium Project whereby Valor can earn-in 80% of the project through $3,500,000 in total exploration expenditures, $475,000 in total cash payments over three years and an initial share issuance.

Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/maps/SYH-Athabasca-Map.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
_________________________
Jordan Trimble
President and CEO

For further information contact myself or:
Riley Trimble
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-687-3376
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

Categories
Breaking Junior Mining Precious Metals

Lakewood Exploration Files 43-101 Technical Report for Silver Strand Mine, in Coeur d’Alene Mining District of Idaho

VANCOUVER, British Columbia, Aug. 31, 2021 (GLOBE NEWSWIRE) — Lakewood Exploration Inc. (CSE: LWD) (the “Company” or “Lakewood“) is pleased to announce that yesterday it filed on SEDAR a National Instrument 43-101 compliant technical report (“Technical Report”) titled: ‘Silver Strand Property—Silver Strand and Burnt Cabin Prospects, Kootenai County, Idaho.

“Completing the Technical Report on Silver Strand ahead of our inaugural drill program to test the down dip and strike length potential at the project, set to commence before the end of summer, is another step in our pursuit of a multi-million ounce silver deposit. Being a past-producing mine affords us a unique opportunity to utilize existing infrastructure and workings to enhance our exploration program at the project, where we are also seeing strong surface mineralization along our recently consolidated 5.5 kilometre strike length up to the Burnt Cabin Mine,” stated President, Morgan Lekstrom.

The Technical Report was prepared in accordance with the Canadian Securities Administrators NI 43-101-Standards of Disclosure for Mineral Projects; and is available for review under the Company’s profile on SEDAR at www.sedar.com and the Company’s website at www.lakewoodexploration.com.https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

About Lakewood Exploration Inc.

Lakewood Exploration Inc. is a junior resource company that controls the Lacy Gold Project in British Columbia, Canada, the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, and both the Eliza Silver project and the Silverton Silver mine in one of the world’s most prolific mining jurisdictions in Nevada. 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
Contact: Kristina Pillon, President, High Tide Consulting Corp.
604.908.1695 / investors@silverhammermining.com
The CSE does not accept responsibility for the adequacy or accuracy of this release.

The Canadian Securities Exchange has not in any way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release.