Edmonton, Alberta–(Newsfile Corp. – February 27, 2024) – Visit Grizzly Discoveries Inc. (TSXV: GZD) (OTCQB: GZDIF) at Booth #3020 at the Prospectors & Developers Association of Canada’s (PDAC) Convention at the Metro Toronto Convention Centre (MTCC) from Sunday, March 3 to Wednesday, March 6, 2024.
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.
About PDAC
The World’s Premier Mineral Exploration & Mining Convention is the leading convention for people, governments, companies and organizations connected to mineral exploration. In addition to meeting more than 1,100 exhibitors, 2,500 investors and 24,000 attendees in person in 2023, participants could also attend programming, courses and networking events.
The annual convention is held in Toronto, Canada. It has grown in size, stature and influence since it began in 1932 and today is the event of choice for the world’s mineral industry.
Vancouver, British Columbia–(Newsfile Corp. – February 22, 2024) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) announces that Brett A. Richards, the Company’s President, Chief Executive Officer (“CEO“) and Director, is transitioning to Interim CEO and Director.
As part of an ongoing commitment to Goldshore, Mr. Richards has decided to transition to Interim CEO and maintain his board seat, ensuring the Company has adequate leadership and working capital for the next twenty-four (24) months.
Goldshore continues to be committed to managing the risk(s) of operating in the current capital market environment while demonstrating the resiliency of its board and management team to make difficult decisions to protect and manage the best interest of shareholders. The Goldshore board will regularly review its management structure and make adjustments as necessary in the future.
About Goldshore
Goldshore is an emerging junior gold development company, and owns the Moss Gold Project located in Ontario. The Company is led and supported by an industry-leading management group, board of directors and advisory personnel. Goldshore is well-positioned and well financed to advance the Moss Gold Project through the next stages of exploration and development.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information – Please Contact:
Brett A. Richards Interim Chief Executive Officer and Director Goldshore Resources Inc.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, future changes to the Company’s management structure, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; the impact of COVID-19; the ongoing military conflict in Ukraine; and other risk factors outlined in the Company’s public disclosure documents.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
KELOWNA, BC / ACCESSWIRE / February 20, 2024 / Diamcor Mining Inc. (TSXV:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), a well-established Canadian diamond mining company with a proven history in the mining, exploration, and sale of rough diamonds announces that Mr. Sheldon Nelson has stepped down from the Board of Directors for personal reasons. Mr. Nelson has been a long-time Director, shareholder, and supporter of the Company, and we wish to thank him for his dedication and involvement in the development of the Company into the opportunity it represents today.
The Company plans to provide an update in the coming weeks on the appointment of a new independent director to its Board of Directors and the advancement of the Company’s growth objectives moving forward.
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. With a long-term strategic alliance with world famous Tiffany & Co, the Company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About the Krone-Endora at Venetia Project
Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
On behalf of the Board of Directors: Mr. Dean H. Taylor President & CEO Diamcor Mining Inc. www.diamcormining.com
For further information contact: Mr. Dean H. Taylor Diamcor Mining Inc DeanT@Diamcor.com +1 250 862-3212
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Kelowna, British Columbia–(Newsfile Corp. – February 20, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3” or the “Company“) is pleased to announce that it has entered into a non-binding Letter of Intent (“LOI”) with Canadian GoldCamps Corp. (“Canadian GoldCamps“) wherein Canadian GoldCamps will enter into a definitive option agreement with F3’s newly incorporated wholly-owned subsidiary F4 Uranium Corp. (“F4”). The staged option will allow Canadian Goldcamps to earn up to a 70% interest in the Murphy Lake Property (the “Property”) in the Athabasca Basin, Saskatchewan. The Property is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano’s McLean Lake deposits, 5 km south of ISOEnergy’s Hurricane Uranium Deposit and covers approximately 6.1 square kilometers of land.
Dev Randhawa, CEO of F3 and incoming Executive Chairman of F4 commented:
“With this transaction, we have immediately demonstrated the successful unlocking of value within F4’s portfolio of fourteen Athabasca Basin projects. The partnership highlights the prospectivity of the Murphy Lake property with Canadian GoldCamps sole-funding exploration for three years, minimizing share dilution to F4 shareholders. F4 will be the operator during the earn-in period utilizing the management and technical team responsible for three major uranium discoveries in the Athabasca Basin. Through this LOI, F4 will receive cash (up to $1.4 million, with $600,000 in the first year) and shares (9.9% ownership in Canadian Goldcamps post financing), and benefit from up to $18 million in work expenditures. This transaction exemplifies F4’s approach of maximizing our opportunities through the use property options, joint ventures and directly funded exploration.”
Initial 50% interest in the Property:
Cash payable:
$100,000 within 7 calendar days of signing the LOI
$200,000 upon entering into of a definitive agreement.
$150,000 on or before the six-month anniversary of the definitive agreement
$150,000 on or before the 12-month anniversary of the definitive agreement
$150,000 on or before the 18-month anniversary of the definitive agreement
$150,000 on or before the 24-month anniversary of the definitive agreement
Canadian GoldCamps common shares:
following the next equity financing of Canadian GoldCamps (for gross proceeds of not less than $6 million), 9.9% of the issued and outstanding common shares of Canadian GoldCamps will be issued to F4.
Property expenditures:
$5M on or before the 1-year anniversary of the signing of the definitive agreement
$5M on or before the 2-year anniversary of the signing of the definitive agreement
Additional 20% Interest in the Property for a total of 70%:
Cash payable:
$250,000 on or before the 30-month anniversary of the definitive agreement
$250,000 on or before the 36-month anniversary of the definitive agreement
Property expenditures:
$8M on or before the 3-year anniversary of the signing of the definitive agreement
Net Smelter Returns Royalty (“NSR Royalty”):
The percentage of a 2% NSR Royalty to F4 equal to Canadian GoldCamps percentage interest in the Property.
About the Murphy Lake Property
F4’s 609-hectare Murphy Lake Project is located in the north-eastern corner of the Athabasca Basin, 30 km northwest of Orano’s McLean Lake deposits, 5 km south of ISOEnergy’s Hurricane Uranium Deposit, and 4 km east of Cameco’s La Rocque Lake Uranium Zone where drill hole Q22-040 intersected 27.9% U O over 7.0 m.
The maiden drill program at Murphy Lake was concluded in late September of 2022, and consisted of 14 completed drillholes totaling 6,850m. The scintillometer results from hole ML22-006 intersected up to 2,300 cps (see NR August 10, 2022), which resulted in assay results of 0.065% U3O8 over 2.5m from 322.5m to 324.5m, including 0.242% U3O8 over 0.5m on the E1 EM conductor. Unconformity associated, basement hosted uranium mineralization was encountered along a strike length of 330m on the E1 conductor between ML22-011 and ML22-013 (See Assay Results Map below) and was associated with graphitic and sulphide rich shear zones in an area overlain by approximately 260m of Athabasca Sandstone.
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 approved on behalf of the Company by Raymond Ashley, P.Geo., President & COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.
About F3 Uranium Corp:
F3 Uranium is advancing the newly discovered high grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become the next Uranium producer and home to large uranium deposits including Tiple R, Arrow and Shea Creek. F3 Uranium currently holds 18 properties across the Athabasca Basin including the Murphy Lake Property. F3 has initiated steps to spin-out by way of a plan of arrangement 14 of its prospective properties, including Murphy Lake, into the newly incorporated wholly-owned subsidiary F4 Uranium Corp. (“F4”). The PLN Property along with the Broach (which includes the PW claims) and Minto Properties (collectively, the “PLN Project”) will remain with F3. F3 will transfer the remaining 14 properties to F4 in exchange for F4 shares that will be distributed to F3 shareholders (see NR dated Jan 16, 2024). There will be no change in shareholder holdings of F3 as a result of the plan of arrangement.
The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and does not accept responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This press release contains “forward-looking information” within the meaning of applicable Canadian and United States securities laws, which is based upon the Company’s current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information include, but are not limited to, the intention to spin out the Properties; the creation of F4; the Arrangement, including timing thereof; the transfer of the Properties and the distribution of shares pursuant to the Arrangement; the intention to list the shares of F4 on the TSXV; F3’s proposed strategic investment into F4; the Arrangement being subject to court, TSXV and shareholder approvals; the preparation and delivery of a management information circular setting forth details of the Arrangement; the completion of the Spin-Out and the Listing; the potential benefits to shareholders and other matters relating to the Arrangement. Forward-looking statements or forward-looking information relate to future events and future performance and include statements regarding the expectations and beliefs of management based on information currently available to the Company. Such forward-looking statements and forward-looking information often, but not always, 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 forward-looking information are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements or forward-looking information, including, without limitation, risks and uncertainties relating to: general business and economic conditions; court, TSXV and shareholder approval for the Arrangement; changes in commodity prices; the supply and demand for, deliveries of, and the level and volatility of the price of uranium and other metals; changes in project parameters as exploration plans continue to be refined; costs of exploration including labour and equipment costs; risks and uncertainties related to the ability to obtain or maintain necessary licenses, permits or surface rights; changes in credit market conditions and conditions in financial markets generally; the ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; the availability of qualified employees and contractors; the impact of value of the Canadian dollar and U.S. dollar, foreign exchange rates on costs and financial results; market competition; exploration results not being consistent with the Company’s expectations; changes in taxation rates or policies; technical difficulties in connection with mining activities; changes in environmental regulation; environmental compliance issues; other risks of the mining industry; and risks related to the effects of COVID-19. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements or forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. For more information on the Company and the risks and challenges of its business, investors should review the Company’s annual filings that are available at www.sedarplus.ca. The forward-looking statements included in this press release are made as of the date of this press release and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Kelowna, British Columbia–(Newsfile Corp. – February 20, 2024) – Strathmore Plus Uranium Corporation (TSXV: SUU) (OTC: SUUFF) (“Strathmore” or “the Company“) is pleased to update the results of the on-going geophysical study completed by the University of Wyoming (UW) at the Agate project. The UW’s research will give Strathmore specific targets for their 200-hole drilling program this spring and provide opportunities to locate roll fronts, the “noses” of which are anticipated to host thicker intervals and higher grades of mineralization. Agate is envisaged as an ISR project located in the Shirley Basin Uranium District in Wyoming.
Sam Hartmann, P. Geo., Strathmore’s technical advisor commented: “Strathmore is successfully demonstrating the viability of using the unique approach of ground geophysics in a roll front environment, with resistivity emerging as a tool to potentially map alteration systems associated with mineralization. If we can continue to identify these typically sinuous roll front bodies on a larger scale as demonstrated with this case study, it stands to provide discrete targeting for the upcoming spring drill program. The current resistivity inversion in profile represents first order targeting on section and will complement our ongoing efforts to digitize and incorporate the significant amount of historical drill hole data by Kerr-McGee into the property model.”
The research by Dr. Bradley Carr, Director of UW’s Near-surface Geophysical Center (UWNSG), consists of ground and borehole geophysics applied across the project to detect and image a uranium roll front and possibly monitor the movement of the roll front’s position during future in-situ mining development. Strathmore looks forward to working with Dr. Carr to provide potential targets for the 2024 exploration season based on the geophysical study completed in 2023 and UW’s more extensive research study slated for 2024.
Dr. Carr reported: “Since early 2023, the University of Wyoming’s Dept. of Geology and Geophysics (G&G) was funded by the State of Wyoming and the UW School of Energy Resources to conduct research into geophysical characterization tools of sedimentary deposits of uranium. In this project, Dr. Carr and two UW G&G graduate students partnered with Strathmore Plus Uranium to study the shallow, near-surface uranium roll front at their Agate Prospect in Wyoming’s Shirley Basin. The goal is to study and determine which geophysical tools provide the best delineation methods for sedimentary uranium roll fronts which are found within the sedimentary geologic layers in Wyoming, Colorado, New Mexico, Texas, and Utah.
The preliminary results of the study illustrate how a combined geophysical method study including both surface and borehole geophysical methods highlight the roll front location, unaltered areas ahead of the roll front, and altered areas behind the roll front. In this research, the borehole and surface geophysical methods include seismic reflection, seismic refraction, DC resistivity (ERT), Induced Polarization (IP), Electromagnetics (TEM), Self-Potential (SP), and Nuclear Magnetic Resonance (NMR).
In traditional uranium exploration and characterization, radiometric surveys followed by drilling and borehole gamma logging are the standard approaches. Although fine, additional geophysical methods can provide more detail on the location, quantity and background groundwater condition allowing more advanced extractive planning and engineering prior to production.
To date in this geophysical study for sedimentary uranium deposits, we have collected preliminary surface data for TEM, ERT and IP, SP, and borehole datasets of Spectral Gamma, Normal resistivity/IP/SP, and NMR. The methodology utilized in 2023 during the preliminary phase of this research is displayed in Figure 1 below. In 2024, we will continue to collect additional TEM, seismic reflection/refraction, and ERT/IP profiles at the site to further delineate the geophysical response of the uranium roll front and potential channel sand where it is hosted. 2023 data analyses (e.g., ERT in Figure 2) and field planning for summer 2024 is continuing currently. Additionally, we will collect NMR datasets to study the mobile groundwater and porosity/permeability state of the target sands. Finally, we will collect and analyze ‘full-waveform’ Induced Polarization (IP) data to determine how viable IP is for identifying not only the location of the active roll-front but if it can tell us about the material state in-front (unreacted) and behind (reacted) parts of the system surrounding the active roll-front. We are encouraged about the use of IP data generally from preliminary, traditional IP surface and borehole data collected in 2023. However, the addition of ‘full waveform’ analyses of the IP decay should provide even greater insights into the in-situ state of the uranium roll front which will hopefully aid development and production planning.”
Figure 1. Preliminary geophysical data acquisition during 2023 at the Strathmore Plus Uranium – Agate Site in Shirley Basin, WY. Pre-drilling geophysical research tests: Red line represents an ERT profile (Line 1). White dots represent TEM sounding locations centered on planned drill locations.
Figure 2. Inverted Resistivity Profile from A-A’. ERT data from 2023 at the Agate Site. Resistors (red/yellow) colors represent the sandstone interval hosting the uranium roll front deposit. AG-16-23 is interpreted to be near the nose of the uranium roll front. ERT assists with identifying the roll front sand unit but gives less direct information about the chemical reactivity of the redox condition at the roll-front. This research is encouraged by initial Induced Polarization (IP) testing near and within these boreholes to provide information about the chemical reactivity of the roll front.
Strathmore Plus Uranium Corp. Strathmore has three uranium projects with approved exploration plans in Wyoming, including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.
Cautionary Statement: “Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release”.
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Strathmore Plus Uranium Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Strathmore Plus Uranium Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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 on behalf of the company by Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.
In this interview we sit down with Shawn Khunkhun the CEO of Dolly Varden Silver, which just announced Step-Out Drilling at Homestake Ridge Discovers New, High-Grade Gold Zone: 79.49 g/t Au over 12.45m, including 1,335 g/t Au over 0.68m. Find out why Eric Sprott, Rick Rule, Fidelity, Fury Gold Mines, Hecla Mining, Sprott, Delbrook, U.S. Global Investors are significant shareholders in Dolly Varden Silver.
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project located in the Golden Triangle of British Columbia, Canada, 25kms by road to deep 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 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).
The Company’s common shares are listed and traded on the TSX.V under the symbol DV and on the OTCQX system under the symbol DOLLF.
Vancouver, British Columbia–(Newsfile Corp. – February 14, 2024) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor“, or the “Company“) is pleased to announce that the Company has completed a 424 line-km aeromagnetic geophysical survey comprising 14.5 km2 at the Duquesne West Gold project in Quebec. This high-resolution survey enhances Emperor’s exploration strategy by refining geological models and targeting capabilities for gold deposition.
Highlights
Enhanced Aeromagnetic Resolution: Achieved with 50 meter and 25 m line spacing providing new and improved detail.
Advanced Geological Understanding: Advances Emperor’s understanding of the structural framework and lithological controls crucial to mineralization.
Revealed Greenstone Belt Architecture: Illustrates the underlying architecture of the greenstone belt; pinpointing areas to favorable ore environments.
Discovery of Unknown Structural Features: Reveals unknown structural features not identified by past explorers, offering new exploration targets.
CEO John Florek commented:
“This dataset not only enhances our understanding of the complex geological environment at Duquesne West but also aligns perfectly with our strategic objectives. By identifying signatures indicative of both high-grade and bulk tonnage gold deposits, we’re now equipped to expand our exploration efforts across multiple fronts. This improved aeromagnetic detail is meaningful for our 2024 drilling program, setting the stage for a transformative year. With these insights, we’re more confident than ever in our ability to uncover new targets for expanding known mineralization and exploring new prospects. We anticipate a busy and productive summer ahead.”
Strategic Implications:
This dataset is instrumental in distinguishing the signatures related to favorable gold deposition, enabling the identification of previously overlooked targets. Specifically, it aids in exploration for:
Underground High-Grade Gold
Open Pit Bulk Tonnage Gold
Underground Bulk Tonnage Gold
These findings are aligned with Emperor Metals’ strategic vision to explore and develop diverse gold resources, leveraging advanced technologies to uncover the full potential of the Duquesne West Gold Project.
2024 Geophysical Survey
This survey marks the first set of detailed (<100m line spacing) aeromagnetics geophysical data on the Duquesne West project with substantially better resolution than historical government data which gives the company valuable insight into magnetic characteristics on its claims.
The survey is expected to enhance the understanding of structure, mineralogy, and spatial positioning of potential economic mineralization related to magnetic anomalies. This survey will assist the company in expanding the footprint of known mineralization and defining near surface targets ahead of the Company’s 2024 drill program.
About the Duquesne West Gold Project
The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.
Under an Option Agreement, Emperor agreed to acquire a one hundred percent (100%) interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property”) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated October 12, 2022, available on SEDAR.
The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au.1,2 The mineral resource estimate predates modern CIM guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.
Reinterpretation of the existing geological model was created using Artificial Intelligence (A.I) and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.
Multiple scenarios exist to expand additional resources which include:
Underground High-Grade Gold
Open Pit Bulk Tonnage Gold
Underground Bulk Tonnage Gold.
1 Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada for XMet Inc.
2 Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent Canadian Institute of Mining and Metallurgy (CIM) standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.
QP Disclosure
The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.
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 PLUS (www.sedarplus.com), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Florek” John Florek, M.Sc., P.Geol President, CEO and Director Emperor Metals Inc.
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.
North Vancouver, British Columbia–(Newsfile Corp. – February 14, 2024) – Lion One Metals Limited (TSXV: LIO)(OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that the Company has closed the underwritten offering (the “Offering“) previously announced on February 7, 2024 by issuing 24,150,000 units of the Company (the “Units“) at a price of $0.50 per Unit (the “Offering Price“) for aggregate gross proceeds of $12,075,000, which includes the exercise, in full, by the Underwriters (as defined below) of the over-allotment option granted by the Company to purchase up to an additional 3,150,000 Units at the Offering Price pursuant to the terms of an underwriting agreement (the “Underwriting Agreement“) dated as of February 8, 2024, among the Company, Cantor Fitzgerald Canada Corporation (the “Lead Underwriter“), Canaccord Genuity Corp., Eight Capital, and Raymond James Ltd. (together with the Lead Underwriter, the “Underwriters“).
Each Unit consists of one common share (a “Common Share“) in the capital of the Company and one common share purchase warrant (a “Warrant“) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price per Warrant Share of C$0.65 for a period of 36 months from the closing date of the Offering.
In connection with the Offering and the Concurrent Private Placement, the Company paid to the Underwriters a cash commission of $724,500, which was equal to 6.0% of the gross proceeds from the Offering, and issued an aggregate of 1,449,000 broker warrants, equal to 6.0% of the number of Units sold pursuant to the Offering. Each broker warrant is exercisable for one Common Share at a price of C$0.65 for a period of 36 months from the closing date of the Offering.
The net proceeds received by the Company from the sale of the Units will be used for development and ramp up expenses at the Tuvatu Gold project located in Fiji, as well as for general corporate expenses & purposes. The Units issued pursuant to the Offering were qualified for distribution by way of a prospectus supplement of the Company dated February 9, 2024 (the “Prospectus Supplement“) to the Company’s existing short form base shelf prospectus dated May 13, 2022 (the “Base Shelf Prospectus“) filed in the Provinces of British Columbia, Alberta and Ontario, and offered and sold to eligible purchasers by way of available prospectus exemptions in certain jurisdictions outside of Canada. The Base Shelf Prospectus, the Prospectus Supplement, the documents incorporated by reference therein and the Underwriting Agreement are available on the Company’s profile on SEDAR+ at www.sedar.com.
The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the “United States” (as such term is defined in Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable U.S. state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Lion One Metals Limited
Lion One is an emerging Canadian gold producer headquartered in North Vancouver, B.C., 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.
As disclosed in its “Technical Report and PEA Update for the Tuvatu Gold Project” dated April 29, 2022, the 2018 Tuvatu resource estimate comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and under the Lion One profile on the SEDAR+ website at www.sedarplus.ca.
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, Alex Nichol, MAIG, VP Geology and Exploration for Lion One, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff“ Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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 results of the Offering and associated marketing efforts, the use of proceeds of the Offering, 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., and results of ongoing production operations. 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: prevailing capital markets conditions, the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
NOT FOR DISTRIBUTION TO US NEWSWIRES OR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia–(Newsfile Corp. – February 12, 2024) – Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce 2023 step-out drilling at the Homestake Ridge property intersected a new gold-rich zone, to the northwest from the Homestake Silver Deposit.
Highlights of Homestake Silver step-outs to the northwest include: (intervals shown are core length**)
HR23-389: 79.49 g/t Au and 60 g/t Ag (80.21 g/t AuEq*) over 12.45meters including 1,335 g/t Au*** and 781 g/t Ag (1,344.42 g/t AuEq*) over 0.68 meters within a broad mineralized zone grading 15.26 g/t Au and 20.05 g/t Ag (15.50 g/t AuEq*) over 66.50 meters.
HR23-399: 43.10 g/t Au and 66 g/t Ag (43.90 g/t AuEq*) over 1.01 meters and 40.33 g/t Au and 418 g/t Ag (45.37 g/t Au Eq**) over 1.75 meters within a broad mineralized zone grading 2.68 g/t Au and 20 g/t Ag (2.92 g/t AuEq*) over 57.70 meters.
HR23-410: 10.17 g/t Au over 6.61 meters including 50.70 g/t Au over 0.62 meters.
Highlights from Homestake Main infill drilling below high-grade plunge include: (intervals shown are core length**)
HR23-374:22.60 g/t Au over 0.67 meters, 18.75 g/t Au over 2.00 meters and 10.15 g/t Au over 1.00 meter in separate vein breccias included in a wider mineralized envelope grading 1.22 g/t Au and 1.90 g/t Ag (1.24 g/t AuEq*) over 83.51 meters.
HR23-386: 18.14 g/t Au and 30 g/t Ag (18.51 g/t AuEq*) over 2.50 meters including 69.9 g/t Au and 42 g/t Ag (70.41 g/t AuEq*) over 0.50 meters.
HR23-390: 129.00 g/t Au and 218 g/t Ag (131.63 g/t AuEq*) over 0.50 meters in a vein breccia included in a wider mineralized envelope grading 1.92 g/t Au and 3.58 g/t Ag (1.96 g/t AuEq*) over 50.30 meters.
*AuEq and AgEq are calculated using $US1650/oz Au, $US20/oz Ag **Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths. ***Determined using metallic screen fire assay on 1.0 kg split
“Whether we discover new zones of high-grade gold at Homestake Ridge or expand the large, wide and high-grade silver deposits at Wolf and Torbrit, drilling continues to deliver results from the premier, undeveloped gold-silver trend in Canada,” said Shawn Khunkhun, CEO of Dolly Varden Silver.
“The new high-grade gold and silver mineralization encountered in step out drilling to the northwest of Homestake Silver represents a significant breakthrough in further defining, upgrading and expanding the mineralization at Homestake Ridge,” said Rob van Egmond, Vice-President Exploration.” This new zone remains open to the northwest, projecting towards the Homestake Main Deposit.”
This release includes the remaining drill results from 48 drill holes from the 2023 drill program at the 100%-owned Kitsault Valley Project that includes the Homestake Ridge and Dolly Varden properties in BC’s Golden Triangle. Reporting 26 drill holes at Homestake Main (11,054.90m), four drill holes (2,478.00m) from the new gold-rich zone at the Homestake Silver northwestern extension, and six exploration drill holes on the Homestake Ridge property (1,627.00m). In addition, twelve holes (6,971.00m) from the Dolly Varden property including the North Star, Red Point and Wolf areas are reported in this release.
Homestake Silver Step-Out Drilling
The high-grade gold and silver intersections in holes HR23-389 and HR23-399 are horizontally separated by approximately 40m and are interpreted to be a new gold zone extending northwest, at depth towards the Homestake Main deposit. Deeper in these holes a second, targeted mineralized envelope was encountered (Figure 5). In longitudinal section, the new gold zone overlaps parallel with the known mineralized envelopes approximately 50 meters to the east. This zone remains open to the northwest below historic drilling. Drilling in 2024 will target a 350m long gap between the Homestake Silver and Homestake Main Deposits to expand this new zone (Figure 2).
Drill hole HR23-410 is a 75-meter step-out from previously released holes HR23-395 and 398 (January 4th, 2024 release) and represents an extension of the higher grade veins to depth and below the wide, higher grade plunge.
The dip of drill hole HR23-394 steepened due to hole deviation more than anticipated and remained in the footwall to mineralized zones.
Figure 1. Location in this release along Dolly Varden’s Kitsault Valley trend
The objective of drilling during 2023 at the Homestake Main and Homestake Silver deposits was to expanded multiple, subparallel mineralized zones and to upgrade Inferred Mineral Resources in the projected plunge of the wider, higher-grade zone. The drilling completed in 2023 at Homestake Main was primarily resource expansion drilling, targeting both down dip and along strike from current Mineral Resources.
At Homestake Main, the 2023 drilling tested the depth extent of the structural corridor that hosts the mineralization and infilled in areas of higher grades. Drill hole HR23-374 is located approximately 200m down dip from the modelled wide, high-grade plunge, planned as a depth test at the bottom edge of the known mineralized envelope.
Drilling along the northwest projection of the Homestake Main zone intersected the structural corridor and associated alteration but with a decrease in vein stockwork and vein breccias density.
Homestake Ridge Exploration Drilling
Four exploration drill holes (HR23-417, 420, 421 and 424) tested two parallel, northwest trending structures located 300 metres and 600 meters to the west of the Homestake Silver deposit. HR23-424 tested the Fox Reef, a parallel structure approximately 900 meters to the southwest. Numerous veins and breccias were intersected with lower grade gold values (Table 3). Another two drill holes (HR23-422 and 423) tested the Dilly – Rambler exploration target 1,500m to the south of Homestake Silver. Although zones of QSP alteration and structures of interest were intersected, no significant precious metal grades were returned from the samples in these holes.
The Homestake Ridge deposits are interpreted as a structurally controlled, multi-phase epithermal vein stockwork and vein breccia system hosted in Jurassic Hazelton Volcanic rocks. Mineralization consists of pyrite and chalcopyrite in a breccia matrix within a silica breccia vein system and quart-carbonate veining (Figure 3). The northwest orientation of the main Homestake structural trend appears to have numerous subparallel internal structures that are interpreted to form the controls for higher grade gold and silver shoots within a broader low-grade (>0.1 g/t Au) zone at the Homestake Main deposit. The main structural corridor dips steeply to the northeast at Homestake Main and rolls to steeply Southwest at Homestake Silver (Figure 2 and 5).
Figure 2. Long Section of Homestake Silver and Main. Modelled mineralized envelope from resource in Red (looking southwest)
Figure 3. Drill hole HR23-389 at the gold zone from the Homestake Silver deposit hosting quartz carbonate vein and stockwork with high-grade gold and silver mineralization.
Figure 4. Location of 2023 Drill holes at Homestake Main and northwest step outs at Homestake Silver in this release. Plan View with Current Mineral Resource block model in grey, primarily of Inferred Classification
Table 1. Completed Drill Hole Assays from the Homestake Silver Deposit Northern Extension drilling
Hole ID
From (m)
To (m)
Length (m)**
Au (g/t)
Ag (g/t)
Cu (%)
AuEq*
AgEq*
HR23-389
329.50
369.93
40.43
0.11
67
0.00
0.91
76
including
366.00
368.00
2.00
0.52
559
0.03
7.26
602
including
367.00
368.00
1.00
0.99
996
0.04
13.00
1078
New Au Zone
377.50
444.00
66.50
15.26
20
0.01
15.50
1285
including
401.00
413.45
12.45
79.49
60
0.01
80.21
6649
including
409.90
410.58
0.68
1335***
781
0.01
1344.42
111440
Lower Zone
503.07
550.35
47.28
1.22
1
0.01
1.23
102
including
510.60
511.85
1.25
13.70
4
0.01
13.75
1140
including
522.77
523.37
0.60
8.53
4
0.01
8.57
711
including
525.79
526.81
1.02
13.65
6
0.01
13.72
1137
HR23-394
416.50
421.50
5.00
0.52
14
0.02
0.69
57
including
416.50
417.50
1.00
2.10
26
0.03
2.42
200
and
484.00
486.00
2.00
2.20
50
0.02
2.79
231
HR23-399 New Au Zone
377.90
435.60
57.70
2.68
20
0.02
2.92
242
including
396.24
397.25
1.01
43.10
66
0.23
43.90
3639
including
413.00
414.75
1.75
40.33
418
0.13
45.37
3761
and
446.80
452.00
5.20
1.40
5
0.02
1.46
121
Lower Zone
545.10
570.00
24.90
0.36
NSV
0.36
30
HR23-410
329.35
329.85
0.50
0.12
1215
0.04
14.77
1225
and
329.85
330.35
0.50
0.06
192
0.41
2.37
197
75m Step out
566.11
572.72
6.61
10.17
7
0.03
10.25
850
including
567.58
571.47
3.89
16.81
10
0.04
16.93
1403
including
567.58
568.20
0.62
50.70
26
0.08
51.01
4229
including
570.00
571.47
1.47
15.30
9
0.05
15.41
1277
Table 2. Completed Drill Hole Assays from the Homestake Main Deposit Area
Hole ID
From (m)
To (m)
Length (m)**
Au (g/t)
Ag (g/t)
Cu (%)
AuEq*
AgEq*
HR23-367
295.75
304.80
9.05
1.66
1
0.01
1.68
139
including
299.96
300.80
0.84
3.16
2
0.03
3.19
264
including
301.32
301.82
0.50
19.80
11
0.06
19.94
1652
HR23-368
186.90
188.90
2.00
0.18
NSV
0.18
15
and
207.70
212.95
5.25
0.17
NSV
0.17
14
HR23-369
204.00
211.00
7.00
0.60
NSV
0.60
50
including
231.07
231.62
0.55
0.83
4
0.01
0.88
73
and
294.50
317.34
22.84
0.37
NSV
0.37
31
including
313.19
314.50
1.31
3.31
18
0.00
3.52
292
HR23-370
288.00
295.00
7.00
1.65
2
0.01
1.67
139
including
293.00
295.00
2.00
4.83
5
0.01
4.89
405
HR23-371
323.00
323.50
0.50
1.45
NSV
1.45
120
HR23-372
234.36
258.50
24.14
0.87
1
0.04
0.88
73
including
246.50
250.50
4.00
3.58
3
0.10
3.61
299
including
257.70
258.50
0.80
1.05
7
0.52
1.13
94
HR23-373
341.00
343.00
2.00
0.45
NSV
0.45
37
HR23-374
261.03
344.54
83.51
1.22
2
0.04
1.24
103
including
268.48
269.15
0.67
22.60
10
0.17
22.72
1883
including
311.00
313.00
2.00
18.75
8
0.22
18.85
1562
including
321.00
322.00
1.00
10.15
9
0.09
10.26
850
HR23-375
234.00
237.18
3.18
0.14
2
0.01
0.17
14
HR23-376
402.09
409.13
7.04
0.97
1
0.05
0.98
81
including
408.32
409.13
0.81
5.29
5
0.32
5.35
444
HR23-377
475.75
477.26
1.51
0.32
4
0.04
0.37
31
HR23-378
523.55
526.00
2.45
0.36
NSV
0.36
30
and
569.85
571.46
1.61
0.45
NSV
0.45
37
HR23-379
264.00
293.00
29.00
0.47
1
0.02
0.49
40
including
284.88
286.50
1.62
4.96
14
0.25
5.13
425
and
299.75
315.35
15.60
0.29
NSV
0.29
24
and
387.00
416.00
29.00
0.38
NSV
0.38
31
including
395.00
399.50
4.50
0.80
NSV
0.80
66
including
403.00
406.00
3.00
0.92
NSV
0.92
76
HR23-380
420.44
446.00
25.56
0.25
0
0.00
0.25
21
HR23-381
259.97
277.00
17.03
0.56
12
0.03
0.71
59
including
265.24
265.89
0.65
3.38
111
0.41
4.72
391
including
268.02
268.61
0.59
1.30
4
0.00
1.35
112
HR23-382
312.00
394.41
82.41
0.26
NSV
0.02
0.26
22
including
324.60
325.12
0.52
3.33
4
0.44
3.38
280
including
359.50
360.22
0.72
1.95
13
0.48
2.11
175
and
404.00
434.00
30.00
0.38
NSV
0.01
0.38
31
including
426.30
427.12
0.82
4.86
21
0.32
5.11
424
Table 2 con’t. Completed Drill Hole Assays from the Homestake Main Deposit Area
Hole ID
From (m)
To (m)
Length (m)**
Au (g/t)
Ag (g/t)
Cu (%)
AuEq*
AgEq*
HR23-383
166.08
168.00
1.92
0.86
39
0.00
1.33
110
HR23-384
338.12
371.10
32.98
0.31
1
0.01
0.33
27
and
391.00
444.00
53.00
0.30
1
0.00
0.31
26
HR23-385
485.67
515.05
29.38
0.25
2
0.07
0.27
22
and
510.00
510.70
0.70
0.93
15
0.63
1.11
92
HR23-386
156.69
208.95
52.26
1.47
25
0.13
1.78
147
including
159.00
160.00
1.00
1.35
969
0.09
13.04
1081
including
161.00
163.50
2.50
18.14
30
0.24
18.51
1534
including
161.00
161.50
0.50
69.90
42
0.18
70.41
5836
including
183.90
190.00
6.10
2.19
16
0.91
2.39
198
HR23-387
146.84
190.10
43.26
0.62
6
0.13
0.69
57
including
150.00
150.50
0.50
6.18
10
0.16
6.31
523
including
166.00
168.65
2.65
2.54
35
1.68
2.96
246
including
189.10
189.60
0.50
2.62
1
0.11
2.64
219
HR23-388
211.90
229.50
17.60
1.00
4
0.14
1.04
86
including
213.86
215.00
1.14
1.90
17
0.93
2.10
174
including
219.48
220.20
0.72
7.80
8
0.13
7.90
655
including
221.50
222.00
0.50
1.03
9
0.16
1.14
94
including
225.60
228.40
2.80
2.05
4
0.14
2.10
174
and
372.50
381.50
9.00
1.76
3
0.13
1.80
149
including
373.38
373.88
0.50
28.80
47
2.23
29.37
2434
HR23-390
167.70
218.00
50.30
1.92
4
0.03
1.96
162
including
169.68
170.18
0.50
129.00
218
1.09
131.63
10911
including
173.95
174.45
0.50
5.59
8
0.13
5.68
471
including
206.00
207.00
1.00
2.72
1
0.00
2.73
227
including
216.00
218.00
2.00
2.12
5
0.03
2.18
180
HR23-391
159.00
167.50
8.50
0.12
NSV
0.12
10
and
232.00
239.55
7.55
1.22
5
0.14
1.28
106
including
234.00
236.55
2.55
3.29
11
0.36
3.43
284
and
246.04
306.90
60.86
0.72
3
0.09
0.76
63
including
246.04
246.61
0.57
3.56
40
0.12
4.04
335
including
254.48
273.30
18.82
1.52
4
0.14
1.56
130
including
304.70
305.20
0.50
13.55
50
0.27
14.15
1173
and
324.00
346.20
22.20
0.26
0
0.02
0.27
22
including
331.80
332.30
0.50
3.96
5
0.84
4.03
334
HR23-392
113.00
119.00
6.00
0.45
47
0.02
1.01
84
Table 3. Completed Drill Hole Assays from the Homestake Ridge Property Exploration
Hole ID
From (m)
To (m)
Length (m)**
Au (g/t)
Ag (g/t)
Cu (%)
AuEq*
AgEq*
HR23-422
193.00
194.17
1.17
0.36
24
0.13
0.65
54
HR23-424
10.00
17.00
7.00
0.27
NSV
HR23-424
12.00
13.16
1.16
1.06
9
1.17
97
and
23.25
23.75
0.50
5.72
22
0.40
5.98
496
and
95.20
95.70
0.50
0.54
20
0.79
65
and
196.05
196.66
0.61
1.76
2
1.79
148
and
199.35
199.85
0.50
1.97
3
2.00
166
and
249.35
249.93
0.58
1.84
2
1.86
154
HR23-423
168.60
169.70
1.10
1.52
1
1.53
127
and
246.75
247.75
1.00
0.78
NSV
0.78
65
HR23-420
NSV
HR23-421
97.60
206.00
108.40
0.11
NSV
0.112
9
HR23-417
156.20
161.20
5.00
0.98
NSV
0.978
81
including
158.20
159.20
1.00
2.09
NSV
2.09
173
*AuEq and AgEq are calculated using $US1650/oz Au, $US20/oz Ag. **Estimated true widths vary depending on intersection angles and range from 50% to 90% of core lengths ***Determined using metallic screen fire assay on 1.0kg
Table 4. Drill Hole Collar Locations for 2023 Homestake Ridge drill holes in this release
Hole ID
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
HR23-367
462840
6179693
952
211
-58
351.00
HR23-368
462840
6179693
952
202
-68
402.00
HR23-369
463071
6179531
927
237
-55
414.00
HR23-370
462840
6179693
952
226
-56
324.90
HR23-371
462771
6179849
1091
200
-75
589.00
HR23-372
463071
6179531
927
235
-62
390.00
HR23-373
462840
6179693
952
230
-68
450.00
HR23-374
463166
6179562
895
232
-53
441.00
HR23-375
462771
6179849
1091
200
-62
582.00
HR23-376
462897
6179729
964
140
-65
609.00
HR23-377
463166
6179562
895
232
-71
552.00
HR23-378
462771
6179849
1091
200
-73
609.00
HR23-379
463015
6179634
918
210
-59
450.00
HR23-380
463132
6179539
914
221
-70
501.00
HR23-381
462794
6179271
1116
106
-45
402.00
HR23-382
463075
6179672
902
212
-55
450.00
HR23-383
463129
6179330
986
220
-53
285.00
HR23-384
463132
6179539
914
205
-66
501.00
HR23-385
462897
6179729
964
240
-74
600.00
HR23-386
463120
6179391
969
223
-57
300.00
HR23-387
463120
6179391
969
231
-52
306.00
HR23-388
463133
6179500
925
223
-47
399.00
HR23-390
463120
6179391
969
205
-62
354.00
HR23-391
463133
6179500
925
218
-61
439.00
HR23-392
462794
6179271
1116
116
-45
354.00
HR23-389
463590
6179193
825
228
-46
603.00
HR23-394
463590
6179193
825
228
-53
654.00
HR23-399
463590
6179193
825
232
-48
621.00
HR23-410
463560
6179124
834
220
-50
600.00
HR23-417exp
463182
6178630
1070
240
-50
283.00
HR23-420exp
463482
6178246
1014
240
-50
279.00
HR23-421exp
463295
6177829
1200
282
-46
222.00
HR23-422exp
463305
6177143
1117
166
-46
261.00
HR23-423exp
463713
6176389
1038
315
-50
255.00
HR23-424exp
463318
6178059
1169
230
-46
327.00
Dolly Varden Exploration Drilling
Result for twelve drill holes competed at the end of the 2023 season on the Dolly Varden property come from three main areas: Red Point, North Star and Wolf (Figure 6).
Red Point Drilling
Three holes were drilled in the Red Point area, located at the southern end of the western gold belt, approximately 10 kilometers southeast along the trend from the Homestake Ridge deposits. Styles of mineralization encountered including varying degrees of quartz and quartz-carbonate veining in a QSP alteration halo, similar to what is seen at the Homestake Ridge deposits. Highlights from the 2023 exploration drilling include: (intervals shown are core length**)
HR23-360: 1.92 g/t Au over 13.10 meters including 7.25 g/t Au and 1.12% Cu over 2.30 meters near surface all within a broad mineralized halo grading 0.44 g/t Au over 120.62 meters.
**Estimated true widths vary depending on intersection angles and range from 70% to 90% of core lengths.
North Star Drilling
Two drill holes intersected the stratabound mineralization of the North Star deposit, part of the Torbrit Horizon, approximately 50 meters down dip from historic underground drilling in the 1960s. The surface drill holes collars were moved further back to intercept the horizon at a better angle and test for continuity. The North Star deposit has higher lead (Pb) and zinc (Zn) values than the Torbrit deposit located across the Kitsault Valley. The Current Mineral Resource Estimate for North Star does not include any credits for the significant base metals in the mineralized horizon.
Highlights from North Star Area include: (intervals shown are core length**)
HR23-358: west step out, entire horizon: 199 g/t Ag with 1.28% Pb and 1.21% Zn (292 g/t AgEq) over 18.10 meters including 1,510 g/t Ag, 1.23% Pb and 5.34% Zn (1,755 g/t AgEq) over 0.58 meters and 753 g/t Ag, 0.51 g/t Au, 15.20% Pb and 4.32% Zn (1,430 g/t AgEq) over 1.00 meters.
**Estimated true widths vary depending on intersection angles and range from 80% to 95% of core lengths.
The North Star deposit (along the Torbrit Horizon) remains open to the west down dip along the Torbrit Horizon for follow up in the 2024 drill program.
Wolf Drilling
The five drill holes reported in this release for Wolf were part of an end of season follow up to test below the plunge of the wide, higher-grade zone. The Wolf structure was intersected with low silver grades and increased lead and zinc values, typical of below and outside of the plunge of high-grade silver zone (Figure 8).
Figure 6. Drill hole location map for Dolly Varden Property holes reported in this release.
Figure 7. Wolf Long Section with 2023 drill holes in this release highlighted in white. The 2023 result highlights shown from step-outs along the wide, high-grade plunge are from previous releases (Sept 11th and Nov 06th, 2023).
Table 5. Completed Drill Hole Assays from the Dolly Varden Property Exploration Drilling in this release.
Hole ID
From (m)
To (m)
Length (m)**
Ag (g/t)
Au (g/t)
Pb (%)
Zn (%)
AgEq (g/t)
DV23-353 North Star
251.05
254.50
3.45
138
0.07
3.50
7.69
543
including
252.50
254.50
2.00
211
0.10
5.74
9.82
769
and
266.45
267.10
0.65
426
0.39
0.59
0.24
485
and
291.50
292.50
1.00
219
0.47
0.05
1.29
308
DV23-358 North Star
278.96
280.80
1.84
52
0.03
0.80
11.10
500
and
293.32
311.42
18.10
199
0.08
1.28
1.21
292
including
293.32
300.75
7.43
345
5.92
2.75
1.6
491
including
293.32
293.90
0.58
1510
0.06
1.23
5.34
1755
including
296.00
297.00
1.00
753
0.51
15.20
4.32
1430
DV23-360 Red Point
1.85
122.47
120.62
3
0.44
0.02
0.05
42
including
34.90
48.00
13.10
6
1.92
0.03
0.08
169
including
44.00
46.30
2.30
15
7.25
0.03
0.07
619
DV23-363 Red Point
29.00
109.00
80.00
NSV
0.38
including
51.00
54.10
3.10
12
3.45
298
DV23-384 Red Point
724.20
783.00
58.80
1
0.28
0.01
0.03
26
including
737.50
761.81
24.31
1
0.45
0.00
0.02
39
DV23-377 Surprise
NSV
DV23-378 Surprise
NSV
DV23-380 Wolf
575.60
584.28
8.68
2
NSV
0.12
0.55
26
DV23-381 Wolf
593.13
594.10
0.97
115
0.03
1.60
1.73
233
and
669.20
670.20
1.00
184
0.04
0.52
2.44
295
and
671.92
673.90
1.98
215
0.01
0.23
3.17
343
and
675.40
676.40
1.00
138
0.03
15.04
3.12
725
DV23-382 Wolf
549.83
570.70
20.87
39
0.18
1.25
0.70
119
including
551.00
552.30
1.30
250
0.28
15.38
3.80
895
DV23-383 Wolf
274.00
276.72
2.72
6
0.03
0.06
1.14
53
DV23-385 Wolf
369.02
384.62
15.60
21
0.05
0.77
0.61
72
including
372.10
372.92
0.82
131
0.28
0.34
0.55
185
*AgEq is calculated using $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn **Estimated true widths vary depending on intersection angles and range from 70% to 95% of core lengths
Table 6. Drill Hole Collar Locations for 2023 Dolly Varden Property drill holes in this release.
Hole ID
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
DV23-353 North Star
467575
6171329
533
115
-60
431.00
DV23-358 North Star
467575
6171329
533
155
-58
413.00
DV23-360 Red Point
467026
6172064
618
205
-50
384.00
DV23-363 Red Point
466782
6172288
707
220
-63
378.00
DV23-384 Red Point
466500
6171968
759
260
-60
912.00
DV23-377 Surprise
466815
6173693
446
232
-46
300.00
DV23-378 Surprise
466815
6173693
446
340
-60
618.00
DV23-380 Wolf
467013
6173643
383
140
-71
803.00
DV23-381 Wolf
467013
6173643
383
140
-74
824.00
DV23-382 Wolf
467013
6173643
383
142
-65
648.00
DV23-383 Wolf
467265
6172994
372
305
-55
762.00
DV23-385 Wolf
467127
6173757
364
138
-57
498.00
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. Gold is determined by Fire Assay on a 30g split with and AA finish and over limits determined by Fire Assay with a gravimetric finish. Metallic screen fire assay analysis on 1kg sample +106umis carried out when determined to be necessary on higher grade 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.
