Prime Mining continues to meet and or exceed Market expectations in its pursuit to go into production in 2 years. Today’s press release is another example of management’s commitment.
G11-1344-03 intersected 1.95 meters of 0.403 g/t 4E (platinum, palladium, rhodium and gold) and 0.24% copper, including 0.95 metres of 0.561 g/t 4E, 0.33% copper and 0.11% nickel;
From the above, a grab-sample isolating sulphide-rich core (over 14 cm) returned 0.872 g/t 4E, 0.56% copper and 0.25% nickel;
Another grab-sample of sulphide-rich core (over 5 cm) returned 1.08% nickel, 0.32% copper, 1105 ppm cobalt and 0.139 g/t 4E;
G11-1344-04 intersected 0.60 metres of 0.33% nickel, 0.23% copper, 474 ppm cobalt and 0.214 g/t 4E;
Re-sampling historic hole TC-1344-039 returned 2.30 metres of 0.216 g/t 4E, 0.19% copper, 0.18% nickel, 203 ppm cobalt, including 0.30 metres of 0.528 g/t 4E, 0.43% nickel, 0.37% copper and 494 ppm cobalt;
Above three holes pierce the dyke over a strike-length of over 400 metres near the Ballinalack zinc deposit1; dyke appears to extend over at least 3 km by 7 km, based on drilling and seismic data;
Group Eleven suspects the above intercepts may represent ‘rip-up’ clasts from a larger sulphide body, which may be a key exploration target in the future;
“The above results were unexpected and a bit out of left field, given our exploration efforts were fully geared towards zinc,” stated Bart Jaworski, CEO. “Despite being a surprise, these anomalous PGM results certainly add to the Ballinalack story. We intend to do more work on PGMs in the future as we remain focussed on exploring for zinc and expanding the existing Ballinalack zinc deposit1.”
Investor Relations
Spiros Cacos, MA
Vice President, Investor Relations T +1 604 630 8839 Ext. 503 E s.cacos@groupelevenresources.com
Russell Ball, CEO of Calibre stated: “Our fourth quarter of 2019 was transformative as we transitioned the Company to a multi-asset producer, while successfully delivering on our production guidance. As we begin 2020, we look to continue delivering quality, high-margin gold production, driven by increased, high-grade, open-pit ore being mined at Limon Central. In addition, our discovery drilling and resource expansion programs will ramp up significantly as we expect to have six drill rigs turning by the end of January, with four focused at La Libertad. In my opinion, the extension of mine life at La Libertad represents the most compelling near-term, value creation opportunity for Calibre.”
About Lion One Metals Lion One Metals Limited is a Canadian exploration and development company focused on advancing its 100% owned and fully permitted Tuvatu Gold Project towards production. Lion One envisions a low-cost high-grade underground gold mining operation with district-scale exploration upside, located near the Nadi International Airport on the island of Viti Levu in the South Pacific island nation of Fiji.
Mr. Nick Appleyard, President and CEO stated “2019 was a remarkable year for TriStar. The large investment in a production royalty made by Royal Gold conveys their belief that Castelo de Sonhos will become a producing mine. With additional money coming in through the oversubscribed private placement, we are fully funded for our 2020 work plan which includes the completion of both the pre-feasibility study and the work by GoldSpot. This initial work by GoldSpot accelerates exploration of the full potential of the large plateau at CDS, including assessing the underground potential that has stayed on the back burner while we focused on proving up a stand-alone open-pit operation. With significant project milestones approaching and with 2020 off to a good start with rising gold prices, we anticipate a good news flow as we keep investors abreast of new developments throughout the year.”
“We appreciate the ongoing support and backing that our operating team has received from Osisko Gold Royalties”, stated Darren Koningen, CEO. “This financing package allows the Company to begin its transition from gold project developer to gold producer. Today’s news sets the stage for an extremely busy and exciting 2020 as our team executes our business plan to the benefit of all our shareholders.”