Category: Junior Mining

Categories
Energy Junior Mining Precious Metals

Gold79 Saddened by Passing of Director James M. Franklin

Ottawa, Ontario–(Newsfile Corp. – June 27, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) announces with great sadness the passing last week of the Company’s longest standing Director, Dr. James M. Franklin.

Dr. Franklin, or Jim to his many colleagues across academia and the minerals industry, served as a Director of Gold79 and its predecessor Aura Resources, from its inception in 2003. In 1996, Jim was elected a Fellow of the Royal Society of Canada’s Academy of Science and in 2019 he was inducted into the Canadian Mining Hall of Fame which are just two examples of Jim’s significant achievements among numerous additional awards and recognition across the geoscience world. His contributions to the understanding of the Canadian Shield and associated mineral deposits gained Jim global acclaim. His sharp and inquisitive scientific mind was always on display and contributed to the learning of students and executives alike. Jim was always instrumental in assuring that exploration was based upon solid field work, keen observations and good science.

Derek Macpherson, President and CEO stated, “Jim was a valued colleague and a fountain of knowledge on numerous subjects. His contributions, positive attitude and encyclopedic knowledge of geology and projects will be missed by the entire team at Gold79. We extend our deepest condolences to his family.“

To more fully understand the significance of Jim’s career and lifetime achievements we encourage readers to view the Jim Franklin Tribute Video developed by the Canadian Mining Hall of Fame at this link:

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About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.

For further information regarding this press release contact:

Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

FORWARD-LOOKING STATEMENTS:

This press release may contain forward looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214496

Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Targets the Motherlode Crown Grants in the Greenwood District Precious and Battery Metals Project, BC

Edmonton, Alberta–(Newsfile Corp. – June 25, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to provide some highlights of historical information on the Motherlode Crown Grants for which the Company entered a purchase agreement with First Majestic Silver Corp on June 12, 2024, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that, at various times during the early and middle 1900’s, produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 & 2). The Motherlode Crown Grants comprise 13 Crown Grants for a total of 300 acres (121.4 ha) that all retain the subsurface mineral rights and date back to the late 1800’s when they were granted. The Crown Grants take precedence over normal mineral titles mineral claims. The Crown Grants cover a number of historical mines, including the Motherlode that produced 76,975,111 pounds of Cu, 173,319 ounces (oz) of Au and 688,203 oz of Ag during the active periods of mining from 1900 to 1920 and from 1957 to 1962. The Motherlode skarn mineralization is developed in Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible approximately 2.5 km northwest of the town of Greenwood (Figure 1).

Highlights

  • Drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the pit in the vicinity of the historical underground workings (Figures 2 and 3).
  • Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 grams per tonne (g/t) Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 3).
  • The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 oz per ton [opt]) over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly (Figure 2).
  • The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorites along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
  • The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
  • A drillhole completed on the Great Hopes Crown Grant in 1993 by Orvana Minerals intersected 3.30 g/t (0.096 opt) Au over 25 ft (7.62 m) near surface in faulted sediments beside the Greyhound fault zone with a core zone of 6.69 g/t (0.195 opt) Au over 10 ft (3.05 m) (Figure 2).
  • Follow-up drilling in 1996 was focused on IP chargeability anomalies and struggled with core recovery in the fault zone – so the zone intersected has not been properly follow-up tested.

Brian Testo, President and CEO of Grizzly Discoveries, stated, “We are excited to complete the acquisition of the historical Motherlode Crown Grants and the targets that they provide. We look forward to aggressive 2024 drilling at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District.“

Figure 1: Land position and targets of interest for future exploration, Greenwood Project.

To view an enhanced version of this graphic, please visit:
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Figure 2: Motherlode Crown Grants, Historical Drilling and AeroTEM Survey Greenwood Project.

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Figure 3: Motherlode Historical Drillhole ML96-8 Greenwood Project.

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https://images.newsfilecorp.com/files/4488/214278_973f5d9534c88b70_004full.jpg

Summary of the Motherlode Crown Grant Purchase Terms

  • The Company will cover all costs related to the transfer of the Crown Grants from First Majestic to the Company.
  • As consideration, Grizzly will issue First Majestic 250,000 common shares of the Company (the “Compensation Shares”) upon closing of the transaction.
  • At closing, the Company will grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic and retains an option to purchase the NSR Royalty for $250,000 at any time.

The issuance of the Compensation Shares is subject to the acceptance of the TSX Venture Exchange.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

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

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available under the Company’s SEDAR+ profile at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/214278

Categories
Base Metals Emx Royalty Junior Mining Oil & Gas

EMX Royalty Announces the Appointment of Two New Members to the Board of Directors

Vancouver, British Columbia–(Newsfile Corp. – April 29, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce the appointment of Mr. Dawson Brisco and Mr. Chris Wright as independent directors to the Board effective immediately.

Dawson Brisco

Mr. Brisco is a Professional Geologist with 20 years of mining industry and business development experience in a variety of roles in the bulk commodity, metals and energy sectors. Mr. Brisco is currently the President and CEO of Morien Resources Corp., a Canadian mining royalty company specialized in bulk commodities, a position he has held since 2018. Prior to joining Morien, Mr. Brisco held numerous senior business development and technical roles including senior manager of an exploration alliance with Xstrata in Asia from 2005 to 2010. Mr. Brisco is an independent Director of the Mining Association of Nova Scotia and holds an Honours Bachelor of Science degree in Geology from Saint Mary’s University in Halifax, Nova Scotia.

Chris Wright

Mr. Wright serves as Chief Executive Officer and Chairman of the Board of Liberty Energy. Mr. Wright is a dedicated humanitarian with a passion for bringing the benefits of energy to every community in the world. This passion has inspired a career in energy working not only in oil and gas but nuclear, solar, and geothermal. Mr. Wright embraces all sources of energy if they are abundant, affordable, and reliable.

Mr. Wright completed an undergraduate degree in Mechanical Engineering at MIT and graduate work in Electrical Engineering at both UC Berkeley and MIT. Mr. Wright founded Pinnacle Technologies and served as CEO from 1992 to 2006. Pinnacle created the hydraulic fracture mapping industry and its innovations helped launch commercial shale gas production in the late 1990s. Mr. Wright was Chairman of Stroud Energy, an early shale gas producer, before its sale to Range Resources in 2006. Additionally, Mr. Wright founded and served as Executive Chairman of Liberty Resources and Liberty Midstream Solutions until its sale in 2024. He also sits on the Board of Directors for Urban Solutions Group, and the Federal Reserve Bank, Denver Branch. In addition to his role at Liberty Energy, Mr. Wright serves on the board of numerous organizations and nonprofits, including a founding board member of the Bettering Human Lives Foundation.

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

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

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

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

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding EMX’s normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Shares and the timing, number and price of Shares that may be purchased under the normal course issuer bid, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206843

Categories
Junior Mining Precious Metals

Emperor Announces Private Placement

Vancouver, British Columbia–(Newsfile Corp. – April 27, 2024) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to announce that it has arranged a non-brokered private placement (the “Offering“) of 5,240,000 flow-through shares (the “FT Shares” and each an “FT Share“) at a price of $0.267 per FT Share for gross proceeds of $1,399,080. Each FT Share will qualify as a “flow-through share” within the meaning of subsection 66(15) of the Income Tax Act (Canada).

The gross proceeds from the issuance of the FT Shares will be used to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures,” as such terms are defined in the Income Tax Act (Canada), and in addition, with respect to Quebec resident subscribers who purchase FT Shares who are eligible individuals under the Taxation Act (Quebec), the Canadian exploration expenses will also qualify for inclusion in the “exploration base relating to certain Quebec exploration expenses” within the meaning of Section 726.4.10 of the Taxation Act (Quebec) and for inclusion in the “exploration base relating to certain Quebec surface mining expenses or oil and gas exploration expenses” within the meaning of Section 726.4.17.2 of the Taxation Act (Quebec) (the “Qualifying Expenditures“). Further information on the Company’s Duquesne West Gold Project in Quebec, and the 2023 exploration results is provided in the Company’s recent news release dated April 10, 2024 available on SEDAR+, and on the Company’s website (www.emperormetals.com). All Qualifying Expenditures will be renounced in favour of the subscribers of the FT Shares effective December 31, 2024.

All FT Shares issued will be subject to a four-month hold period. The Offering is subject to the acceptance of the Canadian Securities Exchange.

About Emperor Metals Inc.

Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR+ (www.sedarplus.ca), under the Company’s profile.

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “Alexander Horsley”
Alexander Horsley, Director

For further information, please contact:
Alexander Horsley
Phone: 778-323-3058
Email: info@emperormetals.com
Website: www.emperormetals.com

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

CERTAIN STATEMENTS MADE AND INFORMATION CONTAINED HEREIN MAY CONSTITUTE “FORWARD-LOOKING INFORMATION” AND “FORWARD-LOOKING STATEMENTS” WITHIN THE MEANING OF APPLICABLE CANADIAN AND UNITED STATES SECURITIES LEGISLATION. THESE STATEMENTS AND INFORMATION ARE BASED ON FACTS CURRENTLY AVAILABLE TO THE COMPANY AND THERE IS NO ASSURANCE THAT ACTUAL RESULTS WILL MEET MANAGEMENT’S EXPECTATIONS. FORWARD-LOOKING STATEMENTS AND INFORMATION MAY BE IDENTIFIED BY SUCH TERMS AS “ANTICIPATES”, “BELIEVES”, “TARGETS”, “ESTIMATES”, “PLANS”, “EXPECTS”, “MAY”, “WILL”, “COULD” OR “WOULD”.

FORWARD-LOOKING STATEMENTS AND INFORMATION CONTAINED HEREIN ARE BASED ON CERTAIN FACTORS AND ASSUMPTIONS REGARDING, AMONG OTHER THINGS, THE ESTIMATION OF MINERAL RESOURCES AND RESERVES, THE REALIZATION OF RESOURCE AND RESERVE ESTIMATES, METAL PRICES, TAXATION, THE ESTIMATION, TIMING AND AMOUNT OF FUTURE EXPLORATION AND DEVELOPMENT, CAPITAL AND OPERATING COSTS, THE AVAILABILITY OF FINANCING, THE RECEIPT OF REGULATORY APPROVALS, ENVIRONMENTAL RISKS, TITLE DISPUTES AND OTHER MATTERS. WHILE THE COMPANY CONSIDERS ITS ASSUMPTIONS TO BE REASONABLE AS OF THE DATE HEREOF, FORWARD-LOOKING STATEMENTS AND INFORMATION ARE NOT GUARANTEES OF FUTURE PERFORMANCE AND READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON SUCH STATEMENTS AS ACTUAL EVENTS AND RESULTS MAY DIFFER MATERIALLY FROM THOSE DESCRIBED HEREIN. THE COMPANY DOES NOT UNDERTAKE TO UPDATE ANY FORWARD-LOOKING STATEMENTS OR INFORMATION EXCEPT AS MAY BE REQUIRED BY APPLICABLE SECURITIES LAWS.

Not for distribution to United States newswire services or for dissemination in the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/207129

Categories
Energy Junior Mining Lion One Metals Precious Metals

Lion One Drills 448.98 g/t, 202.34 g/t, and 108.5 g/t Gold at Tuvatu, Provides Operations Update

North Vancouver, British Columbia–(Newsfile Corp. – April 25, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji and provides an update to mining operations at Tuvatu.

Assay results are presented here for infill and grade control drilling completed in the Zone 2 area of Tuvatu and include multiple bonanza grade gold results such as 448.98 g/t, 202.34 g/t, 108.5 g/t, 92.89 g/t, and 82.35 g/t. These drill intercepts are all located in the near surface portion of Tuvatu and are scheduled for mining in the short term. The results included in this news release are from drill holes that targeted the URW1 and Murau lode systems proximal to underground development. Previous results from Zone 2 drilling are available in the news releases dated October 19, 2023 and September 14, 2023.

Mining operations are also advancing in Zone 2 and in Zone 5. A total of 2,630 m of sludge hole drilling has been completed in advance of longhole mining in Zone 2. In Zone 5, airleg stoping on the UR2 lode is ongoing, with two leadings stopes underway and sublevels being driven for a gallery stope. Longhole production drilling is expected to commence in both Zone 2 and Zone 5 in late April, generating production tonnes in mid-May.

Highlights of Zone 2 drill results (3.0 g/t cutoff):

  • 226.55 g/t Au over 0.6 m (including 448.98 g/t Au over 0.3 m) (TGC-0113, from 84.6 m depth)
  • 18.35 g/t Au over 4.8 m (including 40.99 g/t Au over 0.6 m) (TUDDH-686A, from 128.9 m depth)
  • 9.99 g/t Au over 8.1 m (including 30.34 g/t Au over 0.3 m) (TGC-0121, from 65.0 m depth)
  • 82.35 g/t Au over 0.9 m (including 82.35 g/t Au over 0.9 m) (TGC-0110, from 65.1 m depth)
  • 7.48 g/t Au over 9 m (including 20.78 g/t Au over 0.9 m) (TGC-0118, from 86.3 m depth)
  • 105.86 g/t Au over 0.6 m (including 202.34 g/t Au over 0.3 m) (TGC-0121, from 83.3 m depth)
  • 14.9 g/t Au over 4.2 m (including 21.44 g/t Au over 2.4 m) (TUDDH-698, from 146.3 m depth)
  • 8.27 g/t Au over 7.2 m (including 25.58 g/t Au over 0.3 m) (TGC-0127, from 66.0 m depth)
  • 27.94 g/t Au over 2.1 m (including 54.65 g/t Au over 0.9 m) (TGC-0118, from 66.2 m depth)
  • 15.72 g/t Au over 3.6 m (including 25.53 g/t Au over 1.2 m) (TUDDH-682, from 74.3 m depth)
  • 16.29 g/t Au over 3.3 m (including 46.63 g/t Au over 0.6 m) (TGC-0130, from 107.8 m depth)
  • 33.92 g/t Au over 1.5 m (including 92.89 g/t Au over 0.3 m) (TGC-0134, from 113.8 m depth)
  • 20.86 g/t Au over 2.4 m (including 23.67 g/t Au over 1.2 m) (TGC-0125, from 14.4 m depth)
  • 11.08 g/t Au over 4.5 m (including 46.77 g/t Au over 0.6 m) (TGC-0102, from 41.4 m depth)
  • 13.18 g/t Au over 3.3 m (including 22.4 g/t Au over 0.9 m) (TGC-0125, from 100.2 m depth)

Highlights of operations update:

  • 2,630 m of sludge hole drilling complete in the URW1 and Murau lodes in Zone 2.
  • Airleg mining of the UR2 leading stopes ongoing in Zone 5.
  • Two longhole drill rigs successfully commissioned.
  • Two remote capable loaders to be commissioned by early May.
  • Upgrades to CIL circuit advancing, two new blowers to be installed in late April and early May.

Figure 1. Location of Zone 2 infill and grade control drillholes. Left image: Plan view of Tuvatu showing Zone 2 infill and grade control drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Right image: Oblique view of Zone 2 infill and grade control drilling looking approximately northeast.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/206800_93e3f6c7e4916a2f_001full.jpg

Table 1. Highlights of composited infill and grade control drill results in the Zone 2 area, 3.0 g/t Au cutoff. For full results see Table 3 in the appendix.

Hole IDFromToInterval (m)Au (g/t)
TGC-011384.685.20.6226.55
including84.684.90.3448.98
TUDDH-686A128.9133.74.818.35
including128.9129.50.620.80
and129.5130.10.640.99
and130.7131.30.69.97
and131.9132.80.930.02
and132.8133.40.618.88
and133.4133.70.313.23
TGC-012165.073.18.19.99
including65.065.30.330.34
and68.369.20.911.96
and70.171.31.222.51
and71.372.20.912.22
and72.273.10.915.63
TGC-011065.166.00.982.35
TGC-011886.395.39.07.48
including87.288.10.920.27
and91.192.31.28.33
and93.294.10.920.78
TGC-012183.383.90.6105.86
including83.383.60.39.38
and83.683.90.3202.34
TUDDH-698146.3150.54.214.90
including146.3146.90.620.45
and146.9147.50.628.43
and147.5148.10.620.89
and148.1148.70.615.99
and149.3150.51.28.96
TGC-012766.073.27.28.27
including66.066.60.625.25
and67.267.80.68.10
and69.970.20.315.57
and70.270.50.313.03
and70.571.10.67.91
and71.171.40.36.29
and71.471.70.319.87
and71.772.00.325.58
TGC-011866.268.32.127.94
including66.267.10.954.65
and67.168.31.27.91
TUDDH-68274.377.93.615.72
including74.375.51.225.53
and76.477.30.911.87
and77.377.90.625.25
TGC-0130107.8111.13.316.29
including107.8108.40.68.66
and108.4109.00.646.63
and109.0109.60.617.82
and110.2111.10.98.16
TGC-0134113.8115.31.533.92
including113.8114.10.358.96
and114.1114.40.392.89
and114.4114.70.39.39
TGC-012514.416.82.420.86
including14.414.70.38.60
and14.715.91.223.67
and15.916.80.921.22
TGC-010241.445.94.511.08
including41.4420.615.02
and42.943.50.646.77
and43.543.80.311.96
and44.745.30.67.21
TGC-0125100.2103.53.313.18
including100.2100.80.625.65
and100.8101.10.315.69
and101.1101.40.310.76
and102.3102.60.315.92
and102.9103.20.321.22
and103.2103.50.330.11

Zone 2 Drilling

The Zone 2 area of Tuvatu is located in the northwest part of the deposit, near the main portal. The URW1 and Murau lode systems are the primary mineralized systems in Zone 2, with production mining starting first in URW1 and then in Murau. A total of 38 drill holes are reported in this news release, including 18 targeting the URW1 lodes and 20 targeting the Murau system.

The URW1 drilling reported here was designed to provide grade control results between the 1161 and 1101 levels in Zone 2, and to provide infill and down-dip extension results in the URW1 system below the 1101 level. Leading edge airleg stoping has been completed on the 1141 level, and a 5 m wide access drive on the 1161 level has also been completed. The 1161 access drive will provide longhole drill and underground loader access to the upper part of the URW1 lode system for mechanized production.

Figure 2. Zone 2 URW1 drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Drilling below the 1101 level is targeting URW1 down-dip extension, drilling above the 1101 level is grade control drilling.

To view an enhanced version of this graphic, please visit:
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The Murau drilling reported here was designed to provide infill and grade control results in the upper portion of the Murau lode system, which will be the first part of the system to be mined and is scheduled for production in Q3 2024. The Murau lode system dips moderately to the SSW and is open down dip and at depth. The upper portion of the system that is targeted for near-term mining has a strike length of 80m and extends down dip for a length of 100 m.

Figure 3. Zone 2 Murau drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. The Murau lode system will be the second area to enter production in Zone 2 after the URW1 lode system. The drilling shown here is infill and grade control drilling in the upper portion of the system. View is to the southeast, looking approximately down the decline from the entrance portal. The intersections on the bottom left of the image represent newly discovered mineralized lodes to be followed up with near-mine exploration drilling.

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Operations Update

The URW1 lodes will be the first at Tuvatu to undergo mechanized production mining. Development has been ongoing across the 1101, 1121, 1141, and 1161 levels in advance of production. A leading airleg stope has been completed on the 1141 level, and the 1141 A and B vein drives are undergoing stripping to facilitate larger equipment, in preparation for bulk stoping. An access drive has been completed on the 1161 level and will provide access for the longhole drills and larger loaders.

The URW1 lodes consist of primary subvertical veins with a halo of stockwork mineralization. Sludge drilling is being conducted in advance of mining to confirm the extent of stockwork mineralization beyond the primary vein as well as to inform the final stope design. A total of 1,930 m of sludge hole drilling has been completed in the URW1 lode system. Sludge hole drilling on the 1101 level is complete (1,200 m) and is ongoing on the 1121 and 1141 levels (730 m complete to date). Longhole drilling will commence in the URW1 lode system in late April with production mining of the 1101 level starting in May. Sludge drilling has also commenced on the Murau lode system with 700 m complete to date.

Figure 4. Zone 2 mine development and sludge drilling. Sludge drilling on the 1101 level is complete and is ongoing on the 1121 and 1141 levels. Longhole drilling is scheduled to begin on the 1101 level in late April.

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In Zone 5, airleg stoping on the UR2 lode is underway on the 1130 North level and on the 1120 South level. Airleg development is ongoing on the URW3 lode with airleg rises planned above the 1126 Sublevel. Mineralization in the UR2 and URW3 lodes is predominantly subvertical high-grade narrow-vein gold with minimal stockwork veining. Longhole mining is scheduled to take place in Zone 5 on the 1120 North UR2 drive, beginning in May.

Figure 5. Oblique view of Zone 5 development. Airleg stoping of the UR2 lode is ongoing on the 1130 North and 1120 South levels. Airleg development on the URW3 lode is ongoing on the 1126 Sublevel. The first area scheduled for longhole mining in Zone 5 will be the 1120 North drive on the UR2 lode.

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Two remote-capable loaders required to facilitate the extraction of material from longhole stopes have been acquired. A CAT 1700 loader fitted with remote technology will be commissioned in May for bogging of the 1101 bulk stope at the URW1 lodes, and a CAT 1300 remote loader from Australia is now on site and will also be commissioned in early May. These loaders will enable increased production from the mine.

The first of two blowers ordered to upgrade the CIL circuit and improve aeration within the tanks has arrived on site and will be installed by April 30, 2024. The second blower is scheduled to arrive by the end of April and will be installed in early May. Air sparger installation in the CIL tanks was completed in April resulting in improved aeration and gold recovery in the CIL circuit, with gold recoveries of over 80% achieved. Installation of the new blowers is anticipated to further improve aeration and recoveries in the CIL circuit.

Qualified Person (NI43-101)
In accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43- 101”), Alex Nichol, MAIG, VP Geology and Exploration, is the Qualified Person for the Company, and has reviewed, validated, and approved the technical and scientific content of this news release.

Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of 7 diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged and split by Lion One personnel on site and delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.

Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 23 important pathfinder elements with an aqua regia digest and ICP-OES finish.

About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.

Contact Information
Investor inquiries: info@liononemetals.com
Phone:1-855-805-1250 (toll free North America)
Website: www.liononemetals.com

Neither the TSX-V nor its Regulation Service Provider accepts responsibility or the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labor or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

Table 2. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Hole IDEastingNorthingElevationAzimuthDipDepth
TGC-01021876266392076815224.7-60.365.6
TGC-01031876266392076815226.6-45.671.8
TGC-01041876267392076315252.9-45.662.6
TGC-01051876268392076215256.5-38.6200.7
TGC-01081876267392076215156.4-72.466.7
TGC-01101876268392076315350.6-17.680.2
TGC-01111876268392076315354.3-10.880.4
TGC-01131876269392075815385.0-2.0115.9
TGC-01151876269392075815376.83.9107.0
TGC-011718763753920628128355.2-19.0135.0
TGC-01181876269392075815276.3-14.2107.3
TGC-011918763753920628127348.7-29.2120.7
TGC-012018763743920628128327.3-18.6150.0
TGC-01211876269392075815282.9-12.8107.3
TGC-01221876269392075715288.0-16.6113.3
TGC-012318763753920628128347.3-18.811.5
TGC-012418763753920628128341.3-19.4125.2
TGC-01251876268392075715292.7-36.5125.7
TGC-012618763753920628127341.0-26.1120.8
TGC-01271876268392075715198.6-70.083.5
TGC-012818763753920628128330.3-19.7120.4
TGC-012918762673920756151135.1-79.626.2
TGC-013018763753920628128338.6-8.3130.3
TGC-013118762673920757151127.4-78.795.8
TGC-013218763753920628128350.0-19.511.5
TGC-013318763753920628128348.8-19.8135.3
TGC-013418763753920628128337.7-18.5125.0
TGC-013618763753920628127337.4-26.6120.7
TUDDH-6821876259392080320363.8-71.1101.4
TUDDH-6831876225392070921827.2-65.2170.5
TUDDH-6841876260392080220375.0-61.1100.0
TUDDH-6861876225392070921836.9-58.225.0
TUDDH-686A1876225392070921836.5-58.1160.1
TUDDH-6891876260392080120379.2-67.3105.1
TUDDH-6941876259392080320344.4-81.199.8
TUDDH-6971876259392080420336.6-69.296.2
TUDDH-6981876224392070821837.6-66.3180.0
TUDDH-7001876254392080220318.6-72.395.4

Table 3. Composited results from infill and grade control drillholes in the Zone 2 area (grade >3.0 g/t Au)

Hole IDFromToInterval (m)Au (g/t)
TGC-01027.58.10.67.23
TGC-010218.318.60.35.56
TGC-010241.445.94.511.08
including41.4420.615.02
and42.943.50.646.77
and43.543.80.311.96
and44.745.30.67.21
and45.345.90.64.29
TGC-010248.348.60.36.56
TGC-010322.222.50.39.70
TGC-010325.826.10.311.26
TGC-010338.740.51.83.99
including38.739.60.93.84
and39.640.50.94.15
TGC-010341.743.51.810.38
including41.742.60.95.15
and42.642.90.327.32
and42.943.50.69.76
TGC-010350.752.82.15.29
including50.751.60.93.52
and52.252.50.310.85
and52.552.80.39.80
TGC-010419.219.50.315.22
TGC-010445.647.41.84.06
including45.646.20.69.88
and47.147.40.34.62
TGC-010449.850.40.63.46
TGC-010452.253.41.25.01
including52.252.50.33.08
and52.552.80.38.36
and52.853.40.64.31
TGC-010522.522.80.38.86
TGC-010546.547.71.210.88
TGC-010552.554.01.53.99
including52.552.80.33.79
and53.754.00.314.85
TGC-0105135.3136.20.94.32
TGC-0105181.2182.10.925.59
TGC-010813.213.50.35.25
TGC-010847.147.40.33.98
TGC-010848.950.11.25.43
TGC-011030.932.11.26.14
TGC-011039.940.20.3108.50
TGC-011060.961.20.33.60
TGC-011065.166.00.982.35
TGC-011068.169.00.94.83
TGC-011074.174.40.37.02
TGC-011143.243.80.63.24
TGC-011151.652.20.64.27
TGC-011156.156.70.69.85
TGC-011159.164.25.14.90
including59.159.70.63.51
and60.661.20.67.28
and61.862.40.67.06
and62.463.00.610.23
and63.063.60.66.67
and63.664.20.66.97
TGC-011168.469.00.612.07
TGC-011175.676.50.93.07
TGC-011178.679.20.64.36
TGC-011348.048.60.64.76
TGC-011366.666.90.34.87
TGC-011368.769.00.35.26
TGC-011370.872.31.55.53
including70.871.70.97.00
and71.772.30.63.33
TGC-011377.478.00.64.38
TGC-011382.582.80.36.77
TGC-011384.685.20.6226.55
including84.684.90.3448.98
and84.985.20.34.12
TGC-011515.015.30.35.18
TGC-011574.475.00.626.70
including74.474.70.34.44
and74.775.00.348.96
TGC-011579.279.80.67.43
TGC-011594.594.80.35.84
TGC-011781.982.20.39.30
TGC-011815.216.10.910.45
TGC-011866.268.32.127.94
including66.267.10.954.65
and67.168.31.27.91
TGC-011872.276.13.96.92
including72.273.10.96.79
and73.174.31.27.55
and74.375.20.96.79
and75.276.10.96.37
TGC-011882.184.22.14.10
including82.183.31.23.41
and83.384.20.95.02
TGC-011886.395.39.07.48
including86.387.20.95.20
and87.288.10.920.27
and88.189.31.25.46
and90.291.10.94.03
and91.192.31.28.33
and93.294.10.920.78
and94.195.31.24.00
TGC-011982.682.90.323.21
TGC-012115.816.40.67.17
including15.816.10.34.30
and16.116.40.310.05
TGC-012136.837.70.99.87
including36.837.10.35.95
and37.137.40.312.68
and37.437.70.310.99
TGC-012165.073.18.19.99
including65.065.30.330.34
and65.366.20.93.71
and67.168.31.23.92
and68.369.20.911.96
and70.171.31.222.51
and71.372.20.912.22
and72.273.10.915.63
TGC-012183.383.90.6105.86
including83.383.60.39.38
and83.683.90.3202.34
TGC-012190.291.10.96.28
TGC-012199.2100.10.96.46
TGC-012214.715.30.63.47
TGC-012222.523.40.913.80
including22.523.10.67.89
and23.123.40.325.64
TGC-012264.266.32.14.62
including64.264.80.69.79
and64.865.10.36.38
and65.766.30.63.22
TGC-0122111.6113.31.75.37
including111.6112.20.69.99
and112.8113.30.53.69
TGC-0124103.5103.80.313.87
TGC-012514.416.82.420.86
including14.414.70.38.60
and14.715.91.223.67
and15.916.80.921.22
TGC-012585.887.01.25.42
including85.886.10.35.16
and86.787.00.310.58
TGC-0125100.2103.53.313.18
including100.2100.80.625.65
and100.8101.10.315.69
and101.1101.40.310.76
and102.3102.60.315.92
and102.9103.20.321.22
and103.2103.50.330.11
TGC-012688.789.00.34.81
TGC-012710.210.50.33.38
TGC-012752.552.80.37.86
TGC-012766.073.27.28.27
including66.066.60.625.25
and67.267.80.68.10
and67.868.40.64.49
and68.469.30.94.33
and69.970.20.315.57
and70.270.50.313.03
and70.571.10.67.91
and71.171.40.36.29
and71.471.70.319.87
and71.772.00.325.58
and72.672.90.33.82
and72.973.20.34.43
TGC-01299.310.20.911.03
including9.39.60.318.79
and9.610.20.67.16
TGC-0130106.0106.60.64.11
TGC-0130107.8111.13.316.29
including107.8108.40.68.66
and108.4109.00.646.63
and109.0109.60.617.82
and109.6110.20.64.27
and110.2111.10.98.16
TGC-013165.866.70.910.99
TGC-013382.282.80.643.89
TGC-013495.596.40.93.62
TGC-0134110.8111.40.64.90
TGC-0134113.8115.31.533.92
including113.8114.10.358.96
and114.1114.40.392.89
and114.4114.70.39.39
and114.7115.30.64.18
TGC-0135120.3121.20.94.71
TGC-013690.090.90.929.78
TGC-013692.193.00.93.43
TGC-0136100.2100.50.33.27
TUDDH-68224.524.80.33.55
TUDDH-68263.864.40.67.01
TUDDH-68268.669.81.28.16
including68.669.20.69.79
and69.269.80.66.53
TUDDH-68274.377.93.615.72
including74.375.51.225.53
and76.477.30.911.87
and77.377.90.625.25
TUDDH-68459.560.10.63.45
TUDDH-68473.075.72.75.29
including73.074.21.29.06
and74.875.70.93.79
TUDDH-68477.577.80.310.35
TUDDH-68478.779.00.33.54
TUDDH-686A86.387.51.25.78
TUDDH-686A116.0116.60.63.79
TUDDH-686A128.9133.74.818.35
including128.9129.50.620.80
and129.5130.10.640.99
and130.1130.70.64.38
and130.7131.30.69.97
and131.9132.80.930.02
and132.8133.40.618.88
and133.4133.70.313.23
TUDDH-686A136.7137.00.35.04
TUDDH-686A139.4140.61.23.24
TUDDH-68963.363.90.613.42
TUDDH-68973.875.01.24.80
TUDDH-68981.081.30.39.24
TUDDH-69428.929.50.68.03
including28.929.20.34.29
and29.229.50.311.78
TUDDH-69468.268.50.33.34
TUDDH-69472.475.43.06.09
including72.473.00.612.02
and73.674.81.23.65
and74.875.40.69.78
TUDDH-69476.677.81.29.54
including76.677.20.63.60
and77.277.80.615.48
TUDDH-69762.563.10.63.90
TUDDH-69766.767.30.63.76
TUDDH-698146.3150.54.214.90
including146.3146.90.620.45
and146.9147.50.628.43
and147.5148.10.620.89
and148.1148.70.615.99
and149.3150.51.28.96
TUDDH-698152.3152.60.363.56
TUDDH-698153.8155.61.83.67
including153.8154.40.64.94
and154.4154.70.37.02
and155.3155.60.33.81
TUDDH-698156.8159.52.716.10
including156.8157.40.65.81
and157.4158.61.225.47
and158.6159.20.612.86
and159.2159.50.35.76
TUDDH-70068.769.30.69.29
TUDDH-70073.573.80.33.25

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206800

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Energy Junior Mining Precious Metals Uncategorized

Gold’s record-setting rally may have its roots in Chinese frenzy

Bloomberg News | April 23, 2024 | 5:11 pm Intelligence Markets China Gold 

Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

After weeks of debate about whether a mystery buyer was stoking the rally, several prominent figures in the global gold market are coming to the conclusion that the major new driving force is a legion of fleet-footed retail investors on the Shanghai Futures Exchange.

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In a matter of weeks, the SHFE has gone from a sedate futures venue to a nexus of the global gold market. While rival centers such as London and New York have also seen activity rise, the fact that SHFE volumes have spiked from a low base offers a compelling sign that a newly arrived cohort of Chinese investors has helped drive prices sharply higher.

Gold has soared this year, topping $2,000 an ounce from early March in the face of major pressures that, in ordinary times, would have capped gains. Driven by fading expectations for a pivot to lower interest rates from the Federal Reserve, these included higher Treasury yields and a rallying US dollar. On top of that, there was a virtual buyers’ strike in India, the second-largest consumer, disinterest from western funds, and net sales by exchange-traded funds. Yet SHFE volumes started to spike, and prices powered higher.

“The only thing that drives it in a Bitcoin-esque kind of way is massive speculative plays,” according to Ross Norman, a former trader at Credit Suisse Group AG and Rothschilds & Sons., who now helms the Metals Daily journal.

Given elevated rates and the dollar’s strength, that’s unlikely to have come from hot-money in the US, so the most likely buyers would be highly leveraged Chinese investors, he said.

Gold has a longstanding history in China as a savings tool, and the country is the top consumer and leading producer. That traditional interest has been given a new lease of life by turmoil in the local property and stock markets, with imports surging in 2022 and 2023 despite being tightly controlled.

Buying spree

For months, consumers and institutional investors in China have been snapping up physical bullion, while the People’s Bank of China has been on a 17-month buying spree. Those two forces, which helped buoy international prices, have now been augmented by surging speculative demand.

Numbers back up the theory. Trading on the SHFE has exploded, with average daily volume almost tripling in April compared with the preceding 12 months. It peaked at about 1,200 tons on April 15, the highest since 2019, before prices started to sag this week.

https://www.mining.com/web/china-is-front-and-center-of-golds-record-breaking-rally/embed/#?secret=Jbq5B8gBXH#?secret=BWK5nFgia4

“It’s another sign of emerging markets, and particularly Chinese traders, wresting price discovery away from Western markets,” said John Reade, chief market strategist at the World Gold Council. “We know from other commodity markets, that from time-to-time, Shanghai traders become the most dominant players. That’s never really been the case in gold, but I think now that this might have changed.”

For long-haul gold bulls, that could be a worry if gains prove brittle. State media recently urged caution in chasing the rally, while the SHFE raised margin requirements to snuff out excessive risk-taking.

It’s notable that while SHFE volumes have soared, the number of outstanding contracts has hardly moved. That indicates participants day-trading, not taking a long-term view. Bullion fell 2.7% on Monday and losses deepened Tuesday, in a move that Reade attributed to profit-taking by short-term investors on the exchange.

‘Extreme example’

“It’s a bit of a feature of onshore Chinese markets, albeit a relatively extreme example,” said Marcus Garvey, head of commodity strategy at Macquarie Group Ltd. There’s “much more short-term speculative turnover,” he said.

Not everyone thinks Chinese investors are the major driver behind gold’s ascent. “It’s not just mom-and-pop traders and it’s not just China,” said Jeff Christian, managing director at CPM Group. “It’s really a broad-based thing. There isn’t all that much difference now in the trading behavior of large institutions compared to mom-and-pop people.”

Gold may be in favor as higher-for-longer US interest rates to tame inflation may tip the economy into recession, according to Christian. “They’re all becoming convinced that interest rates aren’t going to fall too soon,” he said. “That could be negative for other assets more than it would be for gold.”

Samson Li, a Hong Kong-based analyst at Commodity Discovery Fund, sees a more nuanced picture. Rather than being a direct driver of prices, the frenzied demand in China has encouraged western speculators to ramp up bets on gains in New York, he said.

The debate about how long Chinese investors will stick around is tied to the question of what brought them to SHFE in the first place. Institutional and retail traders on SHFE may be buying gold to bet on short-term fluctuations in the yuan. This year, the exchange’s night session has been the most active, just when a raft of hot US economic data has driven the dollar higher.

Daniel Ghali, a senior commodity strategist at TD Securities, has also been on the hunt to identify gold’s mystery buyer, and he still thinks that the dominant force is likely to be a deep-pocketed buyer in the so-called official sector, which covers state-linked institutions such as central banks and sovereign wealth funds. But he says buying activity there has also been closely correlated with weakness in the yuan, and investors on SHFE may be acting with the same underlying motivations.

“The trading activity on the SHFE, it does point to retail speculation and that could be associated with the currency pressures,” said Ghali. “It’s not just an issue for the central banks out there – it’s an issue for everyday participants who see that their currency is depreciating and want to hedge against it.”

(By Mark Burton, Sybilla Gross and Yvonne Yue Li)

Original Source: https://www.mining.com/web/golds-record-setting-rally-may-have-its-roots-in-chinese-frenzy/

Categories
Base Metals Energy Junior Mining

Ranked: The Top 10 EV Battery Manufacturers in 2023

The Top 10 EV Battery Manufacturers in 2023

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Despite efforts from the U.S. and EU to secure local domestic supply, all major EV battery manufacturers remain based in Asia.

In this graphic we rank the top 10 EV battery manufacturers by total battery deployment (measured in megawatt-hours) in 2023. The data is from EV Volumes.

Chinese Dominance

Contemporary Amperex Technology Co. Limited (CATL) has swiftly risen in less than a decade to claim the title of the largest global battery group.

The Chinese company now has a 34% share of the market and supplies batteries to a range of made-in-China vehicles, including the Tesla Model Y, SAIC’s MG4/Mulan, and Li Auto models.

CompanyCountry2023 Production
(megawatt-hour)		Share of Total
Production
CATL🇨🇳China242,70034%
BYD🇨🇳China115,91716%
LG Energy Solution🇰🇷Korea108,48715%
Panasonic🇯🇵Japan56,5608%
SK On🇰🇷Korea40,7116%
Samsung SDI🇰🇷Korea35,7035%
CALB🇨🇳China23,4933%
Farasis Energy🇨🇳China16,5272%
Envision AESC🇨🇳China8,3421%
Sunwoda🇨🇳China6,9791%
Other–56,0408%

In 2023, BYD surpassed LG Energy Solution to claim second place. This was driven by demand from its own models and growth in third-party deals, including providing batteries for the made-in-Germany Tesla Model Y, Toyota bZ3, Changan UNI-V, Venucia V-Online, as well as several Haval and FAW models.

The top three battery makers (CATL, BYD, LG) collectively account for two-thirds (66%) of total battery deployment.

Once a leader in the EV battery business, Panasonic now holds the fourth position with an 8% market share, down from 9% last year. With its main client, Tesla, now effectively sourcing batteries from multiple suppliers, the Japanese battery maker seems to be losing its competitive edge in the industry.

Overall, the global EV battery market size is projected to grow from $49 billion in 2022 to $98 billion by 2029, according to Fortune Business Insights.

Source: https://elements.visualcapitalist.com/ranked-the-top-10-ev-battery-manufacturers-in-2023/

Categories
Base Metals Energy Junior Mining

F3 Uranium to Present at the OTC Metals & Mining Virtual Investor Conference on April 30th

KELOWNA, British Columbia, April 24, 2024 (GLOBE NEWSWIRE) — F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company”) is pleased to announce that Mr. Raymond Ashley, President, P.Geo. will be presenting at the OTC virtual conference on April 30, 2024 @ 11:00AM EST. Ray will be discussing the new targets that the PLN winter drilling has generated for the upcoming summer drill program along the A1 and B1 shear zones, as well as the planned F4 spin-out. F3 wishes to invite individual and institutional investors, as well as advisors and analysts, to attend online at VirtualInvestorConferences.com.

DATE: April 30, 2024
TIME: 11:00 AM EST
LINK: https://bit.ly/3ISIVUN

Available for 1×1 meetings: May 2

Learn more about the event at www.virtualinvestorconferences.com.

About F3 Uranium Corp.

F3 Uranium is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discovery. F3 Uranium currently has 20 projects in the Athabasca Basin. Several of F3’s projects are near large uranium discoveries including Triple R, Arrow and Hurricane.

About Patterson Lake North:

The Company’s 4,074-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit. The PLN property is part of the PLN Project which also includes the Minto and Broach properties.

Forward Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, including statements regarding the suitability of the Properties for mining exploration, future payments, issuance of shares and work commitment funds, entry into of a definitive option agreement respecting the Properties, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of the management of the Company based on information currently available to it. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by the Company with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange and the Canadian Securities Exchange have not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2

Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

Categories
Base Metals Dolly Varden Silver Energy Junior Mining Precious Metals Uncategorized

Dolly Varden Silver Outlines 2024 Resource Expansion and Discovery-Focused Exploration Drill Program

Vancouver, British Columbia–(Newsfile Corp. – April 23, 2024) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce plans for the 2024 exploration drilling program at its 100% owned Kitsault Valley Project. An initial 25,000 meters of diamond drilling is planned, starting with three drills. The focus will be on following up on new discoveries as well as stepping out from wide, higher-grade intercepts from the 2023 drilling, particularly at the Homestake Silver and Wolf deposits. Mobilization will be in the first week of May, allowing for an earlier start on exploration than previous years due to a low snowpacks.

The drill program will be split approximately 50/50 between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of 1/3 to Homestake Silver deposit area, 1/3 to Wolf deposit area and 1/3 to project wide exploration targets with new discovery potential.

“Our drill results from Homestake Silver were among the highest-grade gold and silver intercepts anywhere in the Golden Triangle in 2023; our priority with this early start is to continue with step-outs as well as infill drilling to confirm continuity of the potentially bulk-mineable mineralization. Further south, silver mineralization at Wolf remains wide open for expansion and this seasons’ introduction of directional drilling technology will allow for highly accurate placement of drill intercepts,” said Shawn Khunkhun, CEO of Dolly Varden Silver.


Figure 1. Targets for the 2024 Exploration program along Dolly Varden’s Kitsault Valley Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_002full.jpg

Wolf Vein

At the Wolf Vein, drilling is planned to delineate the width and extent of the southerly plunge of wider and higher-grade silver mineralization. Step out holes that define the trace of the plunge are spaced so that any new mineralization can be included in a future resource update. The Company will implement directional drilling technology with the objective of more cost effective and accurate exploration at Wolf, particularly for deep holes.

Wolf Vein remains open to depth where results from 2023 drilling indicate an increase in base metal (lead and zinc) content as well as wider epithermal breccia vein silver mineralization, such as previous released step-out drill hole DV23-375, that intersected 296 g/t silver, 1.68% Pb and 3.01%Zn (461 g/t AgEq*) over 26.99 meters, including 1,475g/t Ag, 10.65% Pb and 12% Zn (2,260 g/t AgEq*) over 0.50 meter from an 81-metre step-out (from previous release: November 6, 2023).

Figure 2. Previously released result highlights (2022 and 2023) on Wolf Vein long section looking northwest showing open zones for follow up and trace of wider, higher-grade plunge as black line.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_003full.jpg

*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn. Assays are not capped and 100% recovery used for Ag and Au and base metals.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.

Homestake Silver

The program planned for Homestake Silver will start with follow up drilling on the newly discovered gold zone at the northern extent of deposit, where coarse-grained native gold in late-stage quartz-carbonate veins (Figure 3.) returned grades of 1,335 g/t Au and 781 g/t Ag over 0.68 meters within a wider interval of stockwork grading 79.49 g/t Au and 60 g/t Ag over 12.45 meters in drill hole HR23-389 (from previous release: February 12, 2024). Data from oriented core drilling indicates these quartz-carbonate veins are geologically younger and crosscut the Homestake trend at a low angle.

Figure 3. Visible Gold in quartz carbonate vein from drillhole HR23-389 at 410.00m depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_004full.jpg

The second part of Homestake Silver drilling will be resource expansion and upgrade holes that target the low angle, north dipping plunge of wide and high-grade gold and silver mineralization encountered in 2023 (Figure 4.). The mineralized plunge orientation at Homestake Silver was initially recognized in 2023 with results such as previously reported drill hole HR23-416, that intercepted the newly defined mineralized envelope returned a 93.95 meter wide zone grading 1.74 g/t Au and 213 g/t Ag (357 g/t AgEq) which included several distinct breccia vein intervals grading 11.80 g/t Au and 1,824 g/t Ag (2,802 g/t AgEq) over 9.16 meters length, 13.16 g/t Au and 3,085 g/t Ag (4,176 g/t AgEq) over 2.26 meters and 55.40 g/t Au and 4,830 g/t Ag (9,422 g/t AgEq) over 1.02 meters (previous release: January 16, 2024).

Figure 4. Homestake Ridge Long section looking southwest showing previous results of wide, highr grade plunge and new gold zone at Homestake Silver with 2024 target areas.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_005full.jpg

*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, Assays are not capped and 100% recovery used for Ag and Au.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated

Exploration Targets including Moose Vein

The Moose Vein is located 1.5 km up north of the Wolf Vein and is interpreted to be hosted within a similar cross cutting structure as Wolf. In 2023, drill hole DV23-371 from the Moose vein intercepted veining and mineralization similar to that seen at Wolf that graded 712 g/t Ag over 1.00 meter within a 7.55-metre-length interval averaging 269 g/t Ag (from previous release: November 6, 2024). This mineralization will be followed up by targeting down the same plunge trend as defined at Wolf.

Other Exploration targets on both the Homestake Ridge and Dolly Varden properties include targets within the 5.4 km long area between the southern end of Homestake Silver and Wolf Vein, under the mid-valley sedimentary cap rocks. Additionally, geophysical targets west of the Homestake Main deposit will be tested, within a parallel basin bounding structures similar to those hosting the Homestake Main and Homestake Silver deposits.

Other studies on road access, advanced metallurgy, wildlife, and baseline environmental monitoring as well as field mapping in underexplored areas of the property will be completed.

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen on a 1.0kg sample may be completed on high-grade gold samples.

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

Forward Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206500

Categories
Junior Mining Precious Metals

Gold79 Announces Effective Date of Previously Announced Share Consolidation

Ottawa, Ontario–(Newsfile Corp. – April 19, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) announces that further to its news release dated April 11, 2024, Gold79 has received approval from the TSX Venture Exchange for its one-for-10 share consolidation. The consolidation will be effective at market open on April 22, 2024. The Company name will be unchanged and its common shares will continue to trade under the symbol AUU on the TSX Venture Exchange and under the symbol AUSVF on the OTC Markets.

In accordance with the articles and bylaws of the Company, the consolidation was approved by the board of directors of the Company, and shareholder approval is not required. Gold79’s board of directors concluded that the Company’s existing issued and outstanding common share structure is not conducive to securing additional equity financing at levels required to support the Company’s planned exploration objectives and operations.

As a result of the consolidation, the number of outstanding common shares of the Company will be reduced from 191,298,579 to approximately 19,129,857, subject to adjustment for rounding. No fractional shares will be issued in connection with the consolidation. Instead, any fractional share interest of 0.5 or higher arising from the consolidation will be rounded up to one whole share, and any fractional share interest of less than 0.5 will be cancelled. No cash consideration will be paid in respect of fractional shares that are cancelled.

Each shareholder’s percentage ownership in the Company and proportionate voting power will remain unchanged after the consolidation, except for minor changes and adjustments resulting from the treatment of fractional shares. The exercise or conversion price and/or the number of shares issuable with respect to any of the Company’s outstanding convertible securities will be proportionately adjusted in connection with the consolidation.

Common shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted at the consolidation ratio through each shareholder’s brokerage account. Non-registered shareholders should consult with their broker for further information. A letter of transmittal describing the process by which registered shareholders may obtain new certificates representing their consolidated common shares has been mailed to registered shareholders by the Company’s transfer agent TSX Trust Company. All registered shareholders will be required to send their share certificates, along with a properly executed letter of transmittal, to TSX Trust Company, in accordance with the instructions provided in the letter of transmittal. A copy of the letter of transmittal has been posted on the Company’s issuer profile on SEDAR+.

The Company’s new CUSIP is 380719203, and the ISIN is CA3807192032.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com

Book a 30-minute meeting with our CEO here.

Stay Connected with Us:
Twitter: @Gold79Mines
Facebook: https://www.facebook.com/Gold79Mines
LinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the proposed private placement or any future private placements, the share consolidation, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206093