Category: Junior Mining

Dolly Varden Silver Step-out Intersects 21.55 g/t Au and 27 g/t Ag over 8.72m, including 91.1 g/t Au and 114 g/t Ag over 0.51m at Homestake Silver Deposit

Post author By admin
Post date February 3, 2025

Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from its 2024 program at the Homestake Silver deposit and exploration drilling at the Homestake Ridge Property in BC’s Golden Triangle. The twenty (20) drillholes reported in this release have successfully expanded and infilled multiple high-grade gold and silver-rich zones within the Homestake Silver Deposit. Three (3) drillholes reported in this release tested exploration targets across various prospects on the property. Dolly Varden’s 2024 drill program consisted of 69 drill holes for a total of 31,726m, with 41 holes totalling 15,546 meters drilled at the Dolly Varden area and 28 holes totalling 16,181 meters drilled at Homestake Ridge area. Planning for the fully funded 2025 drill program is underway to build on the expanded silver and gold zones drilled in 2024.

Highlights from the Homestake Silver Deposit Area (*intervals shown are core length):

HR24-431: Step out to north: 21.55 g/t Au and 27 g/t Ag over 8.72 meters, including 47.92 g/t Au and 58 g/t Ag over 3.74 meters and including 91.1 g/t Au and 114 g/t Ag over 0.51 meters

HR24-433: Step out on new eastern lens: 35.05 g/t Au and 114 g/t Ag over 2.32 meters, including 74.7 g/t Au and 297 g/t Ag over 0.72 meters within 29.50 meters of 3.48 g/t Au and 13 g/t Ag
HR24-437: South end infill: 5.54 g/t Au and 97 g/t Ag over 10.20 meters, including 21.34 g/t Au and 384 g/t Ag over 2.40 meters, including 42.10 g/t Au and 1,135 g/t Ag over 0.77 meters
HR24-438: South end infill: 4.48 g/t Au and 16 g/t Ag over 14.33 meters, including 29.17 g/t Au and 59 g/t Ag over 1.62 meters
HR24-439: Step out 170 meter down dip: 1.56 g/t Au and 5 g/t Ag over 28.9 meters including 9.55 g/t Au and 32 g/t Ag over 0.50 meters and 12.15 g/t Au and 14 g/t Ag over 1.00 meter
HR24-448: infill hole, 91.20 meters grading 1.88 g/t Au and 3 g/t Ag, including 13.90 g/t Au and 6 g/t Ag over 0.74 m, 21.70 g/t Au and 5 g/t Ag over 0.57 meters and 36.10 g/t Au and 12 g/t Ag over 1.00 meter as well as silver dominant intercepts including 1.10 g/t Au and 786 g/t Ag over 0.91 meters and 0.31g/t Au and 571 g/t Ag over 0.82 meters

*Estimated true widths vary depending on intersection angles and range from 55% to 75% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated
**Assay results reported are uncapped

“Homestake Silver was originally considered a primary silver-rich deposit, however our drilling has continued to identify multiple gold-rich zones and remains wide open for expansion. Fully funded drilling in 2025 will target continued growth and further infill-drilling as a high-priority amongst the many targets in the Kitsault Valley trend,” said Shawn Khunkhun, CEO of Dolly Varden Silver.

Figure 1. Kitsault Valley trend of Deposits

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Homestake Silver

2024 drilling at Homestake Silver targeted infill of Inferred Resources and Resource expansion drilling along strike to the north and south, as well as the down-dip. Complete drill results are presented in Table 1.

Highlight drill hole HR24-431 intersected 21.55 g/t Au and 27 g/t Ag over 8.72 meters, including 47.92 g/t Au and 58 g/t Ag over 3.74 meters. This is one of five drill holes targeting the northern extension of Homestake Silver deposit by testing the projected extension of the shallow angle plunge of wider, higher grade gold mineralization (Figure 3). HR24-431 targeted 180 meters down plunge from previously released drill hole HR23-410, that intersected 10.17 g/t Au over 6.61 meters, including 50.70 g/t Au over 0.62 meters (February 12, 2024, news release).

The other four drill holes testing the extent of the northern gold-rich zone all intersected a broad alteration zone with internal areas of strong veining and vein breccias. Drill hole HR24-433 intersected the new gold-rich zone to the east of the main Homestake Silver trend, grading 3.48 g/t Au and 13 g/t Ag over 29.50 meters and included higher grade vein intervals of 35.05 g/t Au and 114 g/t Ag over 2.32 meters (Figure 5). HR24-433 stepped out from previously released hole HR23-399, that intersected the new east gold lens grading 2.68 g/t Au and 20 g/t Ag over 57.70 meters and included higher grade vein intervals of 43.10 g/t Au and 66 g/t Ag over 1.01 meters and 40.33 g/t Au and 418 g/t Ag over 1.75 meters. (February 12, 2024, new release).

Figure 2. Drill hole HR24-431 north end of Homestake Silver deposit. Mineralization is hosted in multi phase vein and vein breccias with strong pyrite, chalcopyrite, galena and sphalerite mineralization and visible gold.

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Drill hole HR24-425 was drilled at an orientation to test the continuity of the new style of quartz-carbonate veining with abundant visible gold intersected in previously released drill hole HR23-389 (February 12, 2024, news release). HR24-425 intersected individual veins grading 8.86 g/t Au over 0.84 meters and 5.78 g/t Au over 2.00 meters.

Drill holes HR24-426 and HR24-449 tested the possible connection of Homestake Main and Homestake Silver deposits with a 250 meter step-out along the projected trend from Homestake Silver. Both drill holes intersected alteration associated with the continuation lower grade anomalous Au that indicate the structural corridor is continuous between the deposits.

Eight drill holes were drilled as infill holes to target larger gaps in drillhole spacing to aid in geological interpretation and increase resource confidence. These holes intersected wide mineralized envelopes with internal high-grade zones of strong veining and vein breccias. Wider zones include: 5.54 g/t Au and 97 g/t Ag over 10.20 meters in HR24-437 and 4.48 g/t Au and 16 g/t Ag over 14.33 meters in HR24-438. Drill holes HR24-437 and HR24-438 targeted a section located 32 meters south of previously released drill hole HR23-407 which intersected 8.94 g/t Au and 191 g/t Ag over 10.72 meters length (January 16, 2024, News Release). Holes HR24-446 and HR24-448 were drilled off the same pad but at different azimuths (Figure 3). Hole HR24-446 intersected 1.71 g/t Au and 287 g/t Ag over 2.91 meters including 7.06 g/t Au, 1,580 g/t Ag, 2.25% Pb and 2.54% Zn over 0.5 meters.

Drill holes HR24-436 and HR24-439 targeted the down-dip extension of the known mineralization and are separated by 110 meters along strike (Figure 4). Drill hole HR24-439 was a 170-meter down dip test from the main mineralized plunge and indicates that mineralization continues at depth and remains open for expansion. The alteration and veining intersected in holes HR24-436 graded 1.09 g/t Au over 31.75 meters, including 11.10 g/t Au over 0.55m and HR24-439 graded 1.56 g/t Au over 28.90 meters including 12.15 g/t Au over 1.00 meters.

Figure 3. Plan View of the Homestake Silver and Main Deposits; 2024 drilling in bold lithology and red outline of mineralized zones.

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Figure 4. Homestake Silver Longitudinal section (C-C’), looking southwest with 2024 drill hole lithology.

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Homestake Ridge

The Homestake Ridge deposits are interpreted as structurally controlled, multi-phase epithermal vein stockwork and vein breccia system hosted in Jurassic Hazelton volcanic rocks. Mineralization consists of pyrite, +/-galena and sphalerite with visible gold in a breccia matrix within a silica breccia vein system (see Figure 2). 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 mineralized envelope at the Homestake Silver deposit. The main structural corridor dips steeply to the northeast at Homestake Main and rolls to vertical or steeply southwest at Homestake Silver.

Figure 5. Homestake Silver Cross Section (A-A’) with 2024 and previous drill holes.

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Figure 6. Homestake Silver Cross Section (B-B’) with 2024 and previous drill holes

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https://images.newsfilecorp.com/files/1728/239289_f6ae348934690840_007full.jpg

Table 1. Assays from the 2024 Homestake Silver Deposit Drilling

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)**	Ag (g/t)	Base Metals (%)
HR24-425	395.7	396.5	0.8	1.17	10
and	410	426.07	16.07	0.5	8	From 421.85-422.35m 1.38%Pb
including	416	419	3	1.13	8
and	450.45	454.16	3.71	2.51	3
including	451.18	452.02	0.84	8.86	6
and	459.25	476	16.75	1.38	2
including	464.5	466.5	2	1.82	2
including	472.5	474.5	2	5.78	3
HR24-426	627	628	1	1.75	3
HR24-427	560.5	561	0.5	0.37	2
HR24-428	322.58	323.18	0.6	0.68	10
and	723	734.3	11.3	0.32	NSV
including	725	727	2	1.05	NSV
HR24-429	635.6	636.1	0.5	1.97	NSV
and	697.9	706	8.1	0.48	NSV
including	700.3	700.8	0.5	2.24	8	0.73% Pb and 1.30% Zn
HR24-431	480.5	481	0.5	3.3	6
and	530.5	533.18	2.68	1.06	NSV
and	656.35	665.07	8.72	21.55	27	0.22% Cu, 2.36% Pb and 1.64% Zn
including	658.26	662	3.74	47.92	58	0.49% Cu, 5.24% Pb and 3.80% Zn
including	659.77	660.28	0.51	91.1	114	1.15% Cu, 8.00% Pb and 9.80% Zn
HR24-433	397	426.5	29.5	3.48	13
including	400.7	403	2.3	1.18	4
including	410.25	412.57	2.32	35.05	114
including	411.85	412.57	0.72	74.7	297	0.24% Cu, 0.51% Pb and 0.17% Zn
including	422.49	424.94	2.45	1.65	6
and	445.25	448.25	3	2.14	NSV
including	446.25	446.75	0.5	11.55	15
and	476	479.9	3.9	1.16	NSV
and	510	525	15	0.91	NSV
including	523.35	523.9	0.55	15.65	7
and	536.62	537.12	0.5	4.61	11
and	562	563	1	1.11	1
HR24-436	645.75	677.5	31.75	1.09	3
including	669.7	673.44	3.74	4.2	7
including	670.75	671.3	0.55	11.1	15	1.54% Zn
and	692.5	695.6	3.1	2.44	3
including	694	694.5	0.5	14.3	13	1.34% Pb and 1.79% Zn
HR24-437	285.36	296.34	10.98	0.88	12
including	290	293.72	3.72	1.88	19
and	308.41	335	26.59	1	12
including	316.32	317.45	1.13	5.62	37
including	325	325.5	0.5	8.76	13
and	342.35	352.55	10.2	5.54	97
including	345	347.4	2.4	21.34	384
including	345	345.77	0.77	42.1	1,135	2.28% Pb and 2.27% Zn
and	360.58	378.7	18.12	1.85	165
including	360.58	367.51	6.93	4.15	425
including	360.58	364	3.42	6.69	484
and	384	399.82	15.82	0.58	3
including	390	393.51	3.51	1.2	2
HR24-438	384	387.15	3.15	1.09	16
including	385.05	386.26	1.21	2.01	8
and	389.17	403.5	14.33	4.48	16
including	389.17	390.79	1.62	29.17	59	1.79% Pb and 2.40% Zn
including	393.58	394.21	0.63	9.81	11
and	417	432	15	0.96	1
including	425.2	426	0.8	8.62	4
HR24-439	690.85	719.75	28.9	1.56	5
including	693	694	1	3.31	1
including	699.99	700.49	0.5	9.55	32	2.16% Pb and 6.30% Zn
including	705.7	706.41	0.71	3.29	5
including	718.75	719.75	1	12.15	14
HR24-440	177.18	177.89	0.71	0.51	106
and	179.8	180.3	0.5	0.17	123
and	219.04	223.03	3.99	1.14	50
including	222	223.03	1.03	3.25	89
HR24-441	325.29	366.34	41.05	0.54	30
including	338	340	2	4.26	55
including	355	357	2	0.65	112
including	363	364.75	1.75	0.19	182
HR24-443	245.12	254.73	9.61	0.5	221
and	270.21	273.99	3.78	0.98	92
including	273.23	273.99	0.76	4.19	315
HR24-444	340.1	340.69	0.59	0.01	149
HR24-446	281.64	284.55	2.91	1.71	287
including	282.24	282.74	0.5	7.06	1,580	2.25% Pb and 2.54% Zn
and	316.24	344.1	27.86	0.8	3
including	323.05	323.77	0.72	3.47	3
including	337.53	338.6	1.07	7.35	5
HR24-447	567.11	567.73	0.62	0.17	150
HR24-448	292.04	294.19	2.15	0.54	423
including	292.04	292.95	0.91	1.1	786
including	297	297.82	0.82	0.31	571
and	317.26	342.29	25.03	0.7	15
including	322.12	322.72	0.6	4.2	107
and	353.15	444.35	91.2	1.88	3
including	359.14	359.88	0.74	13.9	6
including	382.92	394.2	11.28	2.57	3
including	405.67	406.24	0.57	21.7	5
including	411	412	1	36.1	12
including	413	422.59	9.59	2.59	7
HR24-449	429.99	431	1.01	1.23	1
HR24-451	507	510	3	1.23	1
and	516	522.74	6.74	0.63	1
including	521.5	522.74	1.24	2.22	1
and	540.15	541.07	0.92	3.39	1
and	552.74	554.86	2.12	3.82	2
including	554.05	554.86	0.81	9.49	3
and	567.27	571.83	4.56	0.83	1
and	578.8	586.25	7.45	0.23	12	From 580.40-582.60m: 6.68%Pb

*Estimated true widths vary depending on intersection angles and range from 55% to 75% of core lengths
**Assay results reported are uncapped

Table 2. Drill Hole Collar Data for 2024 Homestake Ridge Drilling Reported in this release

Hole ID	Easting UTM83 (m)	Northing UTM83 (m)	Elev. (m)	Azimuth	Dip	Length (m)
HR24425	463346	6179256	901	178	-53	501
HR24426	463430	6179428	841	228	-48	774
HR24427	463553	6179233	832	227	-54	669
HR24428	463539	6179288	828	229	-52	792
HR24429	463553	6179233	832	228	-52	720
HR24430	462402	6179054	1333	260	-48	438
HR24431	463539	6179288	828	225	-45	750
HR24433	463553	6179233	832	228	-46	636
HR24436	463716	6179084	792	224	-45	750
HR24437	463672	6178796	835	226	-54	447
HR24438	463672	6178796	835	222	-60	585
HR24439	463716	6179084	792	238	-46	756
HR24440	463717	6178701	830	224	-52	393
HR24441	463717	6178701	830	227	-62	501
HR24443	463772	6178667	801	224	-52	450
HR24444	463772	6178667	801	221	-57	495.9
HR24446	463490	6179012	879	213	-55	600
HR24447	464035	6178571	734	231	-45	671
HR24448	463490	6179012	879	229	-60	594
HR24449	463430	6179428	841	222	-45	711
HR24450	464642	6176803	973	60	-55	306
HR24451	463539	6179288	828	224	-45	691.4
HR24452	468232	6167663	267	250	-60	63

Exploration Drilling

Three (3) early-stage exploration drill holes were completed on three different targets across the property testing for possible mineralization at depth on mapped structures. Complete results are presented in Table 3.

Table 3. Assays from the 2024 Homestake Ridge Exploration Drilling

Target	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)
Blue Ribbon	HR24430	190.00	195.38	5.38	0.53	NSV
	including	192.65	193.45	0.80	1.83	NSV
	and	318.21	321.02	2.81	0.64	NSV
	including	318.21	319.05	0.84	1.21	NSV
	and	325.00	325.75	0.75	0.76	NSV
Homeguard	HR24452	NSV
Vanguard Copper	HR22450	NSV

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 assays may be completed on very high 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 2024 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“) dated August 22, 2024 and management information circular dated August 22, 2024 (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/239289

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Announces Acquisition of Additional 1% NSR Royalty on the Chapi Copper Mine Property in Peru

Post author By admin
Post date February 3, 2025

Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the “Company” or “EMX”) is pleased to announce that the Company has, pursuant to Royalty Agreement (“Agreement”) announced on January 6, 2025 with Minera Pampa de Cobre S.A.C. (“MPC”), acquired the additional 1% Net Smelter Returns (“NSR”) royalty interest on the Chapi Copper Mine Property for US$7,000,000. MPC is owned indirectly by a privately held Canadian company, Quilla Resources Inc.

EMX now holds a 2% NSR royalty on the Chapi Copper Mine Property, for a total consideration of US$10,000,000. The Agreement includes a 2% NSR royalty on minerals produced from the approximately 26,000 hectare property (“Property Royalty”) owned by MPC, as well as a 2% NSR royalty from any minerals that are produced from outside the Property Royalty area, but that are processed at the Chapi Mine processing facilities. The Agreement also includes a two-kilometer area of interest (“AOI”) around the Property Royalty area, and any property acquired by MPC within this AOI will also be subject to a 2% NSR royalty.

For more information on the Royalty Agreement and the Chapi Copper Mine Property, please refer to the Company’s news release published on January 6, 2025.

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

Isabel Belger
Investor Relations
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 perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, 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 unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners 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 quarter ended September 30, 2024 (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/239095

Junior Mining Precious Metals

West Point Gold Initiates Research Program at Gold Chain with the Colorado School of Mines and Joins the Center to Advance the Science of Exploration to Reclamation in Mining (CASERM

Post author By admin
Post date February 3, 2025

Vancouver, British Columbia–(Newsfile Corp. – February 3, 2025) – West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (“West Point Gold” or the “Company”) is pleased to announce that it has joined the Center to Advance the Science of Exploration to Reclamation in Mining (“CASERM”), a collaborative venture between the Colorado School of Mines (“CSM”) and Virginia Tech. Additionally, the Company has expanded its marketing engagement with i2i Marketing Group, LLC (“i2i”).

This collaborative effort with CASERM commenced with the recent visit to the Gold Chain project by Dr. Thomas Monecke of CSM and the collection of about 50 rock samples for petrographic, fluid inclusion and geochemical studies. Additionally, as part of this collaboration a team from CSM completed a hyperspectral scan of all 1,264m of drill core from the recently completed drill program. Results from both these studies are pending.

West Point Gold believes that CASERM provides the Company with a unique and critical opportunity to:

Present the Gold Chain project’s geologic and exploration models to a broad cross section of geoscientists to better identify tools to guide exploration.
Access tools typically not available to junior explorers with the associated experts to better understand the gold deposition model at Tyro.
Collaborate with experts in epithermal systems to decipher the geologic history of the numerous gold environments identified to date at Gold Chain.

“We are excited to join this program, as it is designed to provide us with a better understanding of gold deposition at the Gold Chain project, as West Point Gold pursues a maiden resource at Tyro,” stated Rob Johansing, VP Exploration. Mr. Johansing continued, “Our collaboration with CASERM provides us with many benefits not available to other junior explorers that significantly include cost effective access to advanced geologic evaluation techniques and expertise as we expand our efforts to many other large-scale targets at the Gold Chain project.”

Understanding the Tyro Vein System at the Gold Chain project

On, May 9, 2023, West Point Gold provided a revised geologic model for the Tyro vein system based upon drilling, geophysics, mapping and sampling. It was suggested that the historical Main Tyro vein is a segment of a much more extensive epithermal, gold-rich vein system (Figure 1). The vein system is characterized by abrupt changes in vein styles, vein textures, vein mineralogy and gold grades. Ongoing mapping supports a conclusion that these changes reflect intra- to post-mineral faulting which has dissected the vein system by down-dropping portions of the vein on the SW and NE extensions and relatively elevating central portions (axis of the Katherine Horst) where ‘bonanza’-type gold values have been observed along surface vein exposures (Figure 1) and in drill holes.

Figure 1. Schematic diagram of the Tyro vein system showing the vein segments defined by WNW- to NW-trending intra- to post-mineral faults and veins.

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Figure 2. Generalized geologic projection of vein segments into the trace of the Tyro vein system. The section is oriented about N45^oE and across the Katherine Horst revealing the relative elevation of the Tyro mine segment with elevated gold values.

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The Tyro vein system shares several similarities to the historically productive Katherine and Arabian veins (Arizona Gold and Silver), NW and SE, respectively, of the Gold Chain project.

Identifying and Defining Gold Targets

Many low-sulfidation epithermal deposits have zones of bonanza-type ore grades confined to crustiform quartz veins that range from centimetres to several metres in width. These bonanza-type zones occur at a specific depth below the paleowater table. In most deposits, the shallow portions of the veins may be barren or host only low-grade precious metal values. Deeper within the vein system, i.e. bonanza zone, elevated gold and silver values may dominate along with higher base metal (Cu-Pb-Zn) grades. In the neighboring Oatman district, the productive or ‘bonanza’ zone extended vertically between 300 and 400 metres and consisted of multiple mineralizing events (Lauson, 1931) but with very minor base-metal values.

Thermodynamic modeling suggests that precious metal enrichment in epithermal deposits that formed by gentle boiling should occur in a defined boiling horizon as >90% of gold contained in hydrothermal liquids experiencing boiling is lost over the temperature range of 260° to 180°C (Simmons and Browne, 2000). At a salinity of 5 wt% and hot hydrostatic conditions, gold deposition over this temperature interval would occur over a vertical depth extent of approximately 400 m at depths of approximately 500 to 100 m below the paleowater table.

Knowledge of the paleodepth of vein formation is critical to mineral exploration, especially if the veins are dissected by later faulting. The Gold Chain project represents an excellent example of a dissected low-sulfidation epithermal vein. The Tyro vein has been offset in several spots (see Figures 1 and 2) resulting in notable differences in vein style, texture and gold grade along with distinct alteration styles suggesting formation at different depths below the paleosurface. The Tyro vein over its nearly 3.5 km strike length hosts a spectrum of vein styles ranging from crustiform-banded quartz-chalcedony-adularia-calcite of the boiling zone to extensive outcrops of opaline silica-clay-hematite developed in the vapor-dominated part of the hydrothermal system, i.e. Frisco graben.

The textural/geochemical model shown in Figure 3 has been utilized to place the various segments of the Tyro vein system into context within the Low Sulfidation Epithermal Model (Buchanan, 1980). The model emphasizes the Company’s belief that only the Tyro Mine segment is situated in the ‘bonanza’ zone and all other segments are positioned higher in the model. Consequently, the Tyro vein system is essentially untested.

Figure 3. Exploration model for low-sulfidation epithermal gold-silver vein systems illustrating vertical variations in quartz textures, structure, alteration and geochemistry along with the estimated vertical positions of the several structural segments of the Tyro vein system. Diagram adapted from: Buchanan (1980), Hollister (1985), Berger & Eimon (1983), Anaconda Corp. (1983), Guoyi (1992) and Corbett & Leach (1996).

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Characterizing the Conditions of Gold Deposition

The West Point Gold, CASERM collaboration aims to reconstruct the relative depth of the different fault blocks through an in-depth petrographic study. This study will include a characterization of quartz textures in outcrop or core samples and documentation of fluid inclusion populations and their micro-thermometric properties.

The petrographic work will include a classification of the quartz textures present following the classification scheme of Dong et al. (1995) and Moncada et al. (2012). Quantifying quartz textures will constrain the processes by which mineral deposition occurred in the vein and allow distinction between fluid cooling, gentle boiling, and vigorous boiling (Moncada et al., 2012). Different processes of quartz deposition may have occurred in the different fault blocks with boiling occurring within a defined horizon.

This collaborative effort will also focus on ore mineralogy as West Point Gold initiates metallurgical studies at Tyro. In addition to characterizing both gold and silver, these petrographic studies may reveal whether different fault blocks show systematic variations in ore mineral associations that may be related to the temperature of the hydrothermal fluids, which increases with depth in low sulfidation epithermal systems.

During the above studies, samples will be investigated for their fluid inclusion inventory. Fluid inclusions represent small amounts of hydrothermal fluids that were entrapped in the quartz during or after quartz formation. Micro-thermometric measurements made on samples from the different fault blocks will then be compared to determine whether significant differences can be identified. If different maximum homogenization temperatures are obtained, this will show conclusively that the veins outcropping in the different fault blocks formed at different depths below the paleosurface.

Hyperspectral Studies and Gold-Related Alteration

In addition to petrographic studies of the Tyro vein system, pulp samples from the recent trenching program across the Main Tyro vein (July 11, 2024), have been subjected to hyperspectral scanning along with core from the Fall 2024 drill campaign. The objective here is to determine the clay mineralogy of the alteration halo around the veins in the different fault blocks as the clay mineralogy strongly correlates with the temperature of the fluid-rock interaction.

About CASERM

Research at CASERM is supported through an active membership of exploration, mining, and service companies as well as government agencies. CASERM forms part of the National Science Foundation’s Industry/University Cooperative Research Centers program. The National Science Foundation takes a supporting role in the development and evolution of the research center and provides a framework for its operation.

Expansion of i2i Marketing Engagement

West Point Gold has expanded its marketing agreement with i2i previously announced on December 20, 2024. The Company and i2i have agreed to expand the marketing and media distribution services agreement beyond the initial one-month term, for a further three months. The supplemental fee is expected to be US$1,000,000 resulting in a total fee of US$1,250,000 for the entire campaign.

i2i will create an advertising campaign and utilize its physical marketing program strategy with the aim of increasing investor awareness through various on-line platforms and methods of engagement, including the direct mailing of advertising materials to potentially interested parties.

The Company will not issue any securities to i2i as compensation for its marketing services. As of the date hereof, to the Company’s knowledge, i2i (including its directors and officers) does not own any securities of the Company and is arm’s length to the Company.

The expanded marketing agreement with i2i remains subject to the final acceptance of the TSX Venture Exchange.

Qualified Person

Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release.

About West Point Gold Corp.

West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.

For further information regarding this press release, please contact:

Aaron Paterson, Corporate Communications Manager
Phone: +1 (778) 358-6173
Email: info@westpointgold.com

Stay Connected with Us:

LinkedIn: linkedin.com/company/west-point-gold
X (Twitter): @westpointgoldUS
Facebook: www.facebook.com/Westpointgold/
Website: www.westpointgold.com

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 placements, 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, which can be found on SEDAR at www.sedarplus.ca. West Point Gold 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/239143

Base Metals Energy Junior Mining Project Generators

F3 Commences 2025 Drill Program at PLN

Post author By admin
Post date February 3, 2025

Kelowna, British Columbia–(Newsfile Corp. – February 3, 2025) – F3 Uranium Corp (TSV: FUU) (OTCQB: FUUFF) (“F3” or “the Company“) is pleased to announce that it has started drilling as part of the $6 million 2025 winter exploration program on the PLN Project, with the initial focus of JR Zone expansion drilling on the PLN Property on an area where drillhole PLN24-176 returned 7.5m of 30.9% U₃O₈including 4.5m of 50.1%U₃O₈ (see NR December 3, 2024). Initially, exploration drilling for a new zone of mineralization will begin on the continuation of the A1 structure around PLN24-152 – an exploration hole with the best geochemistry to date – where a 7m mineralized interval assayed up to 0.051% U₃O₈ (see NR July 30, 2024), approximately 2,800m south of the JR Zone.

Sam Hartmann, Vice President Exploration, commented:

“We are excited to get back to work and continue drill exploration at the PLN property; this will consist of JR Zone drilling in high reward areas where we stand to add value, starting with the exceptional high grade cored in PLN24-176. Exploration drilling will start by following up on high priority areas defined during the 2024 program based on radioactivity and geochemistry results. Due to our unique methodology of drilling by pre-casing drill holes with a sonic rig and the diamond drill following, the drilling sequence will be variable and go back-and forth between zone drilling and exploration. Meanwhile we are still waiting for assay results from 25 drill holes from the 2024 season including both JR Zone and exploration holes and will release those as they come available. These results will also be used for the planning of further exploration drilling.”

Samples from the drill core are split into half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63 element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

The Company considers uranium mineralization with assay results of greater than 1.0 weight % U₃O₈ as “high grade” and results greater than 20.0 weight % U₃O₈ as “ultra-high grade”.

All depth measurements reported are down-hole and true thicknesses are yet to be determined.

About the Patterson Lake North Property:

The Company’s 42,961-hectare 100% owned Patterson Lake North Project (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Paladin’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits, an area poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN Project consists of the 4,074-hectare Patterson Lake North Property, the 19,864-hectare Minto Property, and the 19,022-hectare Broach Property. All three properties comprising the PLN Project are accessed by Provincial Highway 955; the new JR Zone uranium discovery on the PLN property is located 23km northwest of Paladin’s Triple R deposit.

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 a uranium exploration company, focusing on the recently discovered high-grade JR Zone on its Patterson Lake North (PLN) Project in the Western Athabasca Basin. F3 Uranium currently has 3 properties in the Athabasca Basin: Patterson Lake North, Minto, and Broach. The western side of the Athabasca Basin, Saskatchewan, is home to some of the world’s largest high grade uranium deposits including Triple R and Arrow and poised to become the next major area of high grade uranium operations in the world.

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 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/239290

Energy Junior Mining Lion One Metals Precious Metals

Lion One Drills 6.7 m of 25.45 g/t Gold in Zone 2 at Tuvatu Gold Mine in Fiji

Post author By admin
Post date January 30, 2025

North Vancouver, British Columbia–(Newsfile Corp. – January 30, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 3,791.3 metres of underground grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on Zone 2 and targeted the URW and Murau lode systems.

All drilling was completed from existing near surface underground workings. The Company intersected high-grade mineralized structures in 25 holes. Most of the drill holes did not exceed 130 metres in length from underground drill stations. Drill results include multiple bonanza grade gold assays over narrow widths such as 168.3 g/t over 0.4 m, 158.0 g/t over 0.3 m, 145.5 g/t over 0.4 m, 123.5 g/t over 0.6 m, and 119.5 g/t over 0.4 m, all of which are located near existing underground workings. These bonanza grade gold results occur within larger intervals of high-grade mineralization, such as 6.7 m of 25.45 g/t gold, and 4.7 m of 26.89 g/t gold.

The Zone 2 drilling targeted two separate mineralized systems: the URW system and the Murau system. The URW drilling primarily targeted the downdip extension of the URW1 stockwork zone below the 1101 level, while the Murau drilling primarily targeted mineralization below the 1095 level. Both programs intersected high grade mineralization, indicating that both systems extend down vertically below current mining levels. Due to the proximity of these results to active mining levels, these results are anticipated to be incorporated into the mine plan in the next six to twelve months. Notably, the headline intersect of 6.7 m of 25.45 g/t gold is located within the high-grade roscoelite zone, just 10 m below current mining activities in the 1095 level (see press releases dated November 12, 2024 and November 19, 2024 ).

Lion One Chairman and CEO Walter Berukoff commented: “We’re extremely pleased with the new results from our Zone 2 grade control drill program. These drill results are in close proximity to our active mine headings and we’re excited to incorporate them into our near-term mine plan. Together with the high-grade Zone 5 results released last week, we continue to advance Tuvatu on multiple fronts and we look forward to advancing the mine to new levels underground.”

Highlights of New Drill Results:

25.45 g/t Au over 6.7 m (including 145.5 g/t Au over 0.4 m) (TGC-0276, from 45.1 m depth)
26.89 g/t Au over 4.7 m (including 78.0 g/t Au over 0.85 m) (TGC-0264, from 36.8 m depth)
36.94 g/t Au over 2.5 m (including 158.0 g/t Au over 0.3 m) (TGC-0312, from 46.5 m depth)
13.97 g/t Au over 6.6 m (including 54.5 g/t Au over 0.3 m) (TGC-0260, from 31.45 m depth)
45.95 g/t Au over 1.8 m (including 123.5 g/t Au over 0.55 m) (TGC-0308, from 43 m depth)
168.25 g/t Au over 0.4 m (TGC-0276, from 18.5 m depth)
29.23 g/t Au over 2.1 m (including 37.43 g/t Au over 0.9 m) (TGC-0353, from 27.9 m depth)
21.48 g/t Au over 2.7 m (including 119.5 g/t Au over 0.42 m) (TGC-0344, from 70.2 m depth)
12.47 g/t Au over 3.8 m (including 49.86 g/t Au over 0.45 m) (TGC-0264, from 57.2 m depth)
10.82 g/t Au over 3.7 m (including 19.51 g/t Au over 0.6 m) (TGC-0276, from 39.9 m depth)

*Drill intersects are downhole lengths, 3.0 g/t cutoff. True width not known. See Table 1 for additional data.

Figure 1. Location of the Zone 2 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 2 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Right image: Section view of Zone 2 drilling looking northeast. Zone 2 drilling primarily targeted the Murau and URW lode systems below current mine levels.

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Zone 2 Drilling

The Zone 2 area of Tuvatu is located in the northwest part of the deposit, near the main portal. The URW and Murau lode systems are the primary mineralized systems in Zone 2, and they are both actively being mined. A total of 35 drill holes are reported in this news release, including 23 targeting the URW system and 12 targeting the Murau system.

The URW system consists of multiple closely spaced steeply dipping high grade mineralized lodes trending in a north-south direction. Within this system lies the URW1 stockwork zone, which consist of two steeply dipping lodes enveloped within a stockwork zone of gold-bearing veinlets. Four levels of underground mining have been completed within the URW1 stockwork zone; the 1161, 1141, 1121, and 1101 levels. Long hole open stope mining is taking place between these levels. The URW drilling reported here was conducted from the 1116 drill station underground and consists of a series of drill holes oriented in a fan from east to southeast. The drill program primarily targeted the down dip extension of the URW1 stockwork zone below the 1101 level along a 120 m strike length from north to south. High- and bonanza-grade results were intersected in multiple drill holes, indicating the continuation of the system below current mine workings (see Figure 2).

The Murau system consists of a series of high-grade flat to moderately flat mineralized structures located between the steeply dipping URW1 stockwork zone to the east and the steeply dipping Ura lode system to the west. The Murau structures are known as ”flatmakes”^[1] and have abundant roscoelite mineralization. They Murau flatmakes are a major component of the high-grade roscoelite zone that was identified in 2024. The first such flatmake is being actively mined along the 1095 level in Zone 2 where a 120 m strike length of the system has been exposed. The Murau drilling reported here was conducted from the 1121 drill station underground. Drilling consists of a series of drill holes oriented in a fan from the north to the northwest. The primary target of the drilling was mineralization below the 1095 level, with several drillholes also targeting mineralization above the 1095 level. High grade mineralization was intersected both above and below the 1095 level, with 6.7 m of 25.45 g/t gold intersected within 10 m below the 1095 level indicating the potential for additional flatmakes below the 1095 level (see Figure 3).

The purpose of the current Zone 2 URW and Murau grade control drill programs are to enhance the mine model and inform stope design in advance of mining in these areas. The majority of the high-grade intervals reported in this release are located within 30 m of underground developments and are anticipated to be included in the mine plan in 2025. Both the URW1 and Murau drill programs have successfully intersected high-grade gold mineralization in close proximity below current underground workings. Highlights of the Zone 2 drilling reported here are shown in Figure 2 and Figure 3.

Figure 2. Zone 2 URW grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Oblique view looking down to the north. The URW grade control drilling in Zone 2 was oriented in a fan from the east to the south and primarily targeted the down-dip extension of the URW1 stockwork zone below the 1101 level, as well as the extensions of the system to the north and to the south.

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Figure 3. Zone 2 Murau grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Section view looking east-northeast. The Murau grade control drilling in Zone 2 targeted mineralization in the roscoelite zone below the 1095 level, as well as the gap between the Murau and URW1 lode systems. The headline drill intercept of 6.7 m of 25.45 g/t gold is located within 10 m below the 1095 level and is scheduled for mining in the near term.

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Competent Persons Statement

The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and has been reviewed and approved by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.

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 diamond drill rigs using PQ, HQ and NQ sized drill rods.

Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are 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 26 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.

On behalf of the Board of Directors,
Walter Berukoff, Chairman & CEO

Contact Information
Email: 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 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0253	1876320	3920738	123	10.3	-35.7	110.6
TGC-0258	1876320	3920738	122	10.1	-50.1	85.0
TGC-0260	1876320	3920739	122	10.6	-15.9	100.0
TGC-0262	1876320	3920739	123	10.5	0.0	101.0
TGC-0264	1876320	3920740	125	11.2	21.1	105.2
TGC-0266	1876319	3920738	123	353.8	-24.3	106.2
TGC-0270	1876317	3920736	121	295.7	-54.9	75.0
TGC-0272	1876317	3920736	121	295.5	-70.6	55.3
TGC-0274	1876316	3920737	122	300.6	-39.1	100.0
TGC-0276	1876316	3920729	121	320.2	-39.3	75.6
TGC-0280	1876317	3920728	121	322.8	-50.8	75.0
TGC-0283	1876317	3920729	121	339.1	-50.4	75.3
TGC-0285	1876298	3920812	121	103.6	10.9	90.2
TGC-0290	1876298	3920813	121	83.7	13.2	91.7
TGC-0293	1876298	3920813	120	90.0	-5.7	275.4
TGC-0298	1876298	3920812	120	107.0	-13.9	275.0
TGC-0305	1876289	3920808	119	157.3	-30.0	41.4
TGC-0308	1876287	3920806	119	157.9	-28.7	150.0
TGC-0312	1876287	3920806	119	156.4	-24.8	165.3
TGC-0314	1876288	3920807	119	149.6	-26.1	146.4
TGC-0317	1876288	3920808	120	135.1	-11.3	63.2
TGC-0320	1876288	3920807	119	135.5	-24.2	127.0
TGC-0322	1876288	3920807	119	132.1	-28.9	127.0
TGC-0324	1876288	3920808	120	129.3	-22.7	122.7
TGC-0328	1876288	3920807	120	134.2	-6.3	71.5
TGC-0329	1876287	3920806	118	166.1	-35.1	148.3
TGC-0334	1876287	3920806	118	102.0	-9.0	10.6
TGC-0337	1876292	3920809	119	118.1	-23.3	118.7
TGC-0340	1876292	3920809	119	117.4	-28.4	122.5
TGC-0344	1876295	3920810	119	109.2	-27.0	117.3
TGC-0348	1876298	3920811	120	103.3	-8.3	7.8
TGC-0350	1876298	3920811	119	102.7	-19.2	110.0
TGC-0353	1876298	3920811	120	102.3	-8.7	108.0
TGC-0357	1876298	3920811	119	106.9	-34.5	121.0
TGC-0362	1876298	3920812	119	98.3	-31.0	116.1

Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).

Hole ID		From (m)	To (m)	Width (m)	Au (g/t)
TGC-0260		30.0	30.4	0.4	26.50
		31.5	38.0	6.6	13.97
	including	31.5	31.8	0.3	17.06
	and	31.8	32.4	0.7	5.68
	and	32.4	33.6	1.2	16.99
	and	33.6	33.9	0.3	54.50
	and	33.9	34.7	0.8	47.20
	and	34.7	35.4	0.7	0.04
	and	35.4	36.0	0.7	4.13
	and	36.0	36.8	0.8	1.93
	and	36.8	38.0	1.2	5.33
		39.3	40.0	0.7	3.75
TGC-0262		24.0	24.3	0.3	3.46
		45.0	45.3	0.3	6.94
		46.5	47.2	0.7	5.04
TGC-0264		36.8	41.5	4.7	26.89
	including	36.8	37.1	0.3	10.85
	and	37.1	38.3	1.2	16.77
	and	38.3	39.5	1.2	13.50
	and	39.5	40.0	0.5	0.08
	and	40.0	40.9	0.9	78.00
	and	40.9	41.5	0.7	31.47
		44.4	47.2	2.8	7.94
	including	44.4	45.0	0.6	9.77
	and	45.0	45.3	0.3	2.23
	and	45.3	45.9	0.6	3.22
	and	45.9	46.2	0.3	18.99
	and	46.2	46.9	0.7	9.37
	and	46.9	47.2	0.3	5.31
		57.2	61.0	3.8	12.47
	including	57.2	57.8	0.6	9.37
	and	57.8	58.4	0.6	0.62
	and	58.4	58.9	0.5	49.86
	and	58.9	59.2	0.3	0.40
	and	59.2	59.5	0.3	8.59
	and	59.5	59.8	0.3	33.44
	and	59.8	60.4	0.7	5.13
	and	60.4	61.0	0.6	4.83
TGC-0270		45.4	46.6	1.2	19.55
TGC-0274		29.0	29.7	0.7	27.68
	including	29.0	29.4	0.4	26.54
	and	29.4	29.7	0.3	29.20
		38.3	39.2	0.9	3.90
		44.7	45.7	1.0	4.12
		53.8	56.2	2.4	5.36
	including	53.8	54.6	0.8	8.78
	and	54.6	54.9	0.3	1.52
	and	54.9	55.4	0.5	1.63
	and	55.4	55.8	0.4	8.29
	and	55.8	56.2	0.4	3.64
		58.1	59.0	0.9	7.02
	including	58.1	58.4	0.3	6.88
	and	58.4	59.0	0.6	7.09
		60.1	64.1	4.0	4.38
	including	60.1	60.4	0.3	7.87
	and	60.4	61.3	0.9	0.36
	and	61.3	61.6	0.3	3.70
	and	61.6	62.2	0.6	9.13
	and	62.2	62.9	0.7	4.65
	and	62.9	63.3	0.4	0.25
	and	63.3	64.1	0.8	6.12
TGC-0276		18.5	18.9	0.4	168.25
		39.9	43.6	3.7	10.82
	including	39.9	40.8	0.9	9.00
	and	40.8	41.1	0.3	12.00
	and	41.1	41.7	0.6	19.51
	and	41.7	42.7	1.0	0.44
	and	42.7	43.6	0.9	17.99
		45.1	51.8	6.7	25.45
	including	45.1	45.4	0.3	66.44
	and	45.4	46.2	0.8	8.25
	and	46.2	46.5	0.3	67.29
	and	46.5	46.9	0.4	13.36
	and	46.9	47.2	0.3	12.58
	and	47.2	47.6	0.4	23.10
	and	47.6	48.0	0.4	145.50
	and	48.0	48.6	0.6	13.66
	and	48.6	49.6	1.0	4.04
	and	49.6	50.1	0.5	47.73
	and	50.1	50.8	0.7	6.76
	and	50.8	51.8	1.0	5.48
TGC-0285		13.8	14.4	0.6	52.57
		63.1	63.4	0.3	12.39
TGC-0290		41.7	43.0	1.3	10.85
	including	41.7	42.0	0.3	20.38
	and	42.0	42.7	0.7	5.93
	and	42.7	43.0	0.3	12.79
		45.4	46.0	0.6	6.18
		58.4	61.0	2.6	10.76
	including	58.4	59.2	0.8	24.33
	and	59.2	60.4	1.2	4.97
	and	60.4	61.0	0.6	4.24
		62.2	62.5	0.3	6.90
TGC-0293		48.0	49.2	1.2	9.43
	including	48.0	48.6	0.6	14.89
	and	48.6	49.2	0.6	3.97
		128.0	130.2	2.2	3.02
	including	128.0	129.0	1.0	3.09
	and	129.0	129.6	0.6	2.10
	and	129.6	130.2	0.6	3.83
		162.8	165.2	2.4	5.22
	including	162.8	163.1	0.3	21.04
	and	163.1	163.6	0.5	0.40
	and	163.6	164.4	0.8	3.46
	and	164.4	165.2	0.8	4.07
		169.1	170.0	0.9	5.18
TGC-0298		23.8	24.2	0.4	19.57
		56.6	57.5	0.9	8.50
		65.4	65.7	0.3	8.48
TGC-0305		5.1	6.7	1.6	11.76
	including	5.1	5.4	0.3	4.24
	and	5.4	6.0	0.6	26.29
	and	6.0	6.3	0.3	1.41
	and	6.3	6.7	0.4	3.38
		8.8	9.7	0.9	11.85
TGC-0308		4.6	4.9	0.3	3.30
		5.6	5.9	0.3	3.15
		10.1	10.5	0.4	5.58
		11.6	12.5	0.9	6.81
	including	11.6	12.0	0.4	9.95
	and	12.0	12.5	0.5	4.30
		43.0	44.8	1.8	45.95
	including	43.0	43.3	0.3	6.21
	and	43.3	43.6	0.3	0.18
	and	43.6	44.2	0.6	123.50
	and	44.2	44.5	0.3	29.20
	and	44.5	44.8	0.3	6.03
		52.6	53.8	1.2	5.70
		57.2	58.4	1.2	4.78
		122.6	122.9	0.3	7.08
TGC-0312		4.5	5.4	0.9	3.58
		9.3	10.5	1.2	4.07
		37.4	37.7	0.3	6.15
		46.5	49.0	2.5	36.94
	including	46.5	47.2	0.7	17.52
	and	47.2	47.5	0.3	48.99
	and	47.5	47.8	0.3	158.00
	and	47.8	48.4	0.6	25.72
	and	48.4	49.0	0.6	4.27
		53.5	54.7	1.2	31.28
		59.6	59.9	0.3	3.36
TGC-0314		3.4	3.7	0.3	8.36
		4.9	6.0	1.1	4.07
		51.6	51.9	0.3	3.20
		57.8	59.7	1.9	11.67
	including	57.8	58.7	0.9	17.99
	and	58.7	59.4	0.7	2.32
	and	59.4	59.7	0.3	15.36
TGC-0317		2.1	2.5	0.4	4.39
		6.1	6.4	0.3	8.93
		41.6	41.9	0.3	6.27
		47.9	48.2	0.3	4.56
		55.9	56.7	0.8	8.12
TGC-0320		3.8	5.8	2.0	4.27
	including	3.8	4.3	0.5	7.36
	and	4.3	4.6	0.3	1.05
	and	4.6	5.3	0.7	<0.01
	and	5.3	5.8	0.5	9.10
		54.2	56.0	1.8	6.22
	including	54.2	55.1	0.9	8.98
	and	55.1	56.0	0.9	3.46
		82.4	83.0	0.6	9.95
		113.9	114.5	0.6	8.48
	including	113.9	114.2	0.3	12.79
	and	114.2	114.5	0.3	4.16
TGC-0322		123.8	125.6	1.8	6.67
	including	123.8	124.1	0.3	3.70
	and	124.1	124.4	0.3	0.01
	and	124.4	124.7	0.3	2.16
	and	124.7	125.0	0.3	9.82
	and	125.0	125.6	0.6	11.98
TGC-0324		95.5	95.8	0.3	72.59
TGC-0328		20.0	21.0	1.1	6.16
	including	20.0	20.4	0.4	3.65
	and	20.4	21.0	0.6	7.77
		42.6	44.5	1.9	4.98
	including	42.6	43.8	1.2	5.20
	and	43.8	44.5	0.7	4.63
		53.7	56.3	2.6	11.14
	including	53.7	54.0	0.3	6.20
	and	54.0	54.3	0.3	1.41
	and	54.3	55.0	0.7	23.57
	and	55.0	55.3	0.3	9.03
	and	55.3	56.0	0.7	6.71
	and	56.0	56.3	0.3	10.26
		67.4	68.3	0.9	4.98
TGC-0329		11.2	11.5	0.3	3.32
		31.7	32.3	0.6	5.00
		57.5	58.6	1.1	8.91
		133.9	134.2	0.3	14.65
TGC-0344		70.2	72.9	2.7	21.48
	including	70.2	71.0	0.8	5.60
	and	71.0	71.5	0.5	0.10
	and	71.5	71.9	0.4	119.50
	and	71.9	72.9	1.0	3.27
TGC-0350		62.3	63.5	1.2	10.43
	including	62.3	62.6	0.3	23.99
	and	62.6	63.5	0.9	5.91
TGC-0353		27.9	30.0	2.1	29.23
	including	27.9	28.8	0.9	37.43
	and	28.8	30.0	1.2	23.08
		33.3	33.6	0.3	3.46
		38.7	39.1	0.4	3.53
		54.3	55.3	1.0	7.38
	including	54.3	54.6	0.3	9.95
	and	54.6	55.0	0.4	0.85
	and	55.0	55.3	0.3	14.38
		64.0	65.0	0.9	9.72
	including	64.0	64.4	0.3	3.16
	and	64.4	65.0	0.6	13.45
TGC-0357		75.1	75.4	0.3	6.30
TGC-0362		68.7	69.3	0.6	30.10
	including	68.7	69.0	0.3	23.75
	and	69.0	69.3	0.3	36.44

¹ Flatmakes are flat-dipping mineralized vein structures. The term is a Fijian mining term commonly used at the Vatukoula gold mine northeast of Tuvatu. At Vatukoula, flatmakes have been reported to have hundreds of meters of strike length.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238920

Base Metals Diamcor Mining Energy Junior Mining Precious Metals

Dubai Diamond Manufacturer Funds Mining Company

Post author By admin
Post date January 30, 2025

Diamcor Mining has received an investment from a Dubai-based diamond manufacturer that will allow it to advance various projects at its South African operation.

The mining company, which operates the Krone-Endora at Venetia project, will use the funds to expedite the processing of previously stockpiled oversized material, increase processing volume, and develop work programs it currently has underway, it said Monday. It will also further its bulk sampling.

Diamcor did not provide the name of the Dubai-based company but did note it was a “manufacturer and supplier of bridal and anniversary diamonds to the global market.” The miner also said the manufacturer would not receive shares in Diamcor in return for the funding.

“This financing is the result of long-term relationships we have developed with key associates in Dubai over many years and the mutual vision our companies share on the merits of building a growing supply of gem-quality non-conflict natural rough diamonds for the luxury-jewelry sector,” said Diamcor CEO Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well-positioned and ready for this anticipated recovery.”

Image: Rough diamonds. (Diamcor Mining)

SOURCE: https://rapaport.com/news/dubai-diamond-manufacturer-funds-mining-company/

Energy Junior Mining Oil & Gas

Jericho Energy Ventures Closes Final Tranche of Oversubscribed Non-Brokered Private Placement Financing

Post author By admin
Post date January 29, 2025

PHILADELPHIA, PA and VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the second and final tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 12,255,000 units (the “Units”) at a price of $0.10 per unit in the second tranche of the Financing, generating gross proceeds of $1,225,500.

The total gross proceeds raised from the first and second tranches of the Financing amounted to $2,024,500.

Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of $0.20 for a period of two years from closing.

All securities issued under the second tranche of the Financing are subject to a four month and one day hold period expiring on May 30, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.

Two insiders of Jericho acquired an aggregate 1,700,000 Units in the second tranche of the Financing (the “Insider Participation”).

The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.

Net proceeds from the Financing will be used for general working capital purposes.

The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Jericho Energy Ventures
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.

Website: www.jerichoenergyventures.com
X: https://x.com/JerichoEV
LinkedIn: www.linkedin.com/company/jericho-energy-ventures
YouTube: www.youtube.com/c/JerichoEnergyVentures

CONTACT:
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
Tel. 604.343.4534
Email: investorrelations@jerichoenergyventures.com

This news release contains certain “forward-looking information” and “forward-looking ‎statements” (collectively, “forward-looking statements“) within the meaning of applicable ‎securities laws. Such forward-looking statements are not representative of historical facts or ‎information or current condition, but instead represent only Jericho’s beliefs regarding future ‎events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of ‎Jericho’s control. Forward-looking statements are frequently characterized by words such as ‎‎”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, ‎or statements that certain events or conditions “may”, “will” or “may not” occur.‎ Specifically, this ‎news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.

Forward-looking statements are subject to a variety of risks and uncertainties and other factors ‎that could cause actual events or results to differ materially from those anticipated in the forward-‎looking statements, which include, but are not limited to: regulatory changes; changes to the ‎definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other ‎infectious diseases; general economic conditions; industry conditions; current and future ‎commodity prices and price volatility; significant and ongoing stock market volatility; currency and ‎interest rate fluctuation; governmental regulation of the energy industry, including environmental ‎regulation; geological, technical and drilling problems; unanticipated operating events; the ‎availability of capital on acceptable terms; the need to obtain required approvals from regulatory ‎authorities; liabilities and risks inherent in oil and gas exploration, development and production ‎operations; liabilities and risks inherent in early stage hydrogen technology projects, energy ‎storage, carbon capture and new energy systems; changes in government environmental ‎objectives or plans; and the other factors described in Jericho’s public filings available at ‎www.sedarplus.ca.

The forward-looking statements contained herein are based on certain key expectations and ‎‎assumptions ‎of Jericho ‎concerning anticipated financial performance, business prospects, ‎strategies, ‎regulatory regimes, the ‎‎sufficiency of budgeted capital expenditures in carrying out ‎planned activities, the ability to obtain financing on ‎acceptable terms, expansion of consumer ‎adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of ‎investments, all of which are ‎subject to change based on ‎market conditions, ‎potential timing delays ‎and other risk factors. Although Jericho believes that these assumptions and the expectations ‎are ‎reasonable based on information currently available to management, such ‎statements are not ‎guarantees of future performance and actual results or developments may differ materially from ‎‎those in the forward-looking statements. Investors should not place undue reliance on forward-‎looking ‎statements.‎

Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements ‎contained in this news release are made as of the date of this news release, and Jericho does not ‎undertake to update any forward-looking statements that are contained or referenced herein, ‎except as required by applicable securities laws‎.

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.

SOURCE: Jericho Energy Ventures, Inc.

View the original press release on ACCESS Newswire

Junior Mining Precious Metals

Emperor Metals Drilling Expands Gold Potential at Duquesne West, Reveals Widespread Mineralization in Open Pit Model

Post author By admin
Post date January 29, 2025

Vancouver, British Columbia–(Newsfile Corp. – January 29, 2025) – Emperor Metals Inc. (CSE: AUOZ) (OTCQB: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to share additional results from its 2024 drilling program. The program included 8,166 meters of drilling across 19 new drill holes, and approximately 8,000 meters of historical core assaying. To date, 88% of the new drilling assays have been reported, but only 52% of the total assays for the 2024 season (combined 2024 drilling and historical core resampling). All assays should be finalized by mid-February.

CEO John Florek commented:

“It’s clear that we continue to observe widespread gold mineralization both within and outside the current open-pit concept. This highlights the significant exploration potential to add valuable ounces to the project, supporting the upcoming 2025 Mineral Resource Estimate (MRE) expected in Q1 or early Q2. The 2024 program has demonstrated a clear opportunity to expand the footprint of the conceptual open-pit model, and once all results are in, this will guide our strategy for the 2025 season.”

Highlights:

DQ24-15 intersects 14.2 meters (m) of 1.2 g/t Au and 20.4 m of 0.6 g/t Au which expands mineralization both within and below the conceptual open pit model.
DQ24-12 intersects 16.3 m of 0.8 g/t Au within an area of infill drilling and extends mineralization 80m eastward along strike and below Emperor’s conceptual open pit model.
DQ24-13 intersects 8.1 m of 1.0 g/t Au and 30.5 m of 0.5 g/t expanding mineralization up dip in two separate zones within the conceptual open pit model.
DQ24-16 intersects 7.1 m of 1.3 g/t which is infill drilling and expands mineralization eastward along strike and within the conceptual open pit model.

Full results for DQ24-13 through DQ24-16, as well as the remaining results for DQ24-12, have been released by SGS Laboratories (see Table 1 for intercept highlights). Ongoing exploration efforts continue to demonstrate significant potential for resource expansion both within and along strike of the conceptual open pit. This includes the discovery of previously unrecognized low-grade bulk tonnage zones, as well as high-grade gold lenses containing visible gold (see Figures 1).

These findings are expected to make a significant contribution to the upcoming Q1 mineral resource estimate. A total of 52% of the assays for the 2024 season has been reported to date. By focusing on near-surface drilling for open-pit mining, Emperor aims to economically expand its resource base by including lower grades in the conceptual open-pit environment compared to higher grades in an underground mining scenario. Deposits in the region with currently active open pits have been economic at grades equal 0.30 g/t Au (see Agnico Eagles press release dated Feb 15, 2024 – Detour Lake Deposit cut-off grade, pg. 52.)

Emperor is targeting a multi-million-ounce resource, utilizing a combination of conceptual open-pit and underground mining scenarios. The Property currently hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au. Emperor is committed to delivering an updated Mineral Resource Estimate in Q1 of 2025.

Figure 1: Location of DQ24-12 to 16 DDH.

To view an enhanced version of this graphic, please visit:
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Drillhole Discussion:

The 2024 drilling continues to validate low-grade bulk-tonnage and high-grade mineralization inside and external to the conceptual open-pit concept.

DQ24-12

Drillhole DQ24-12 continues to intersect bulk-tonnage gold zones beneath the conceptual open-pit shell, with a notable 16.3-meter interval grading 0.8 g/t Au. This intercept has the potential to alter the pit boundaries once fully evaluated in our upcoming Mineral Resource Estimate (MRE) scheduled for Q1 or early Q2 of 2025. The mineralization is hosted within a broad zone of altered, interlayered mafic, ultramafic, and quartz-feldspar porphyries in the deposit’s footwall, containing 1-5% pyrite. Shearing along rock boundaries reveals both brittle and ductile structures that have facilitated the introduction of gold mineralization.

DQ24-13

Drillhole DQ24-13 intersected a significant zone of near-surface, bulk-tonnage gold mineralization, with 30.5 meters grading 0.5 g/t Au. This zone consists of moderately to strongly sheared and brecciated mafic flows and tuffs, with areas of intense alteration, including silica, carbonate, sericite, and chlorite.

Emperor is also encouraged by the discovery of a new mineralized zone below the conceptual pit-shell, grading 8.1 meters at 1.0 g/t Au. This zone features a quartz-feldspar porphyry (QFP)intrusion surrounded by several mafic flows, which created structural weakness that played a key role in introducing alteration and gold mineralization within the footwall zone.

DQ24-15

Drillhole DQ24-15 intersected multiple mineralized zones. The first intersection encountered a significant low-grade bulk tonnage zone within the conceptual open-pit model, grading 20.4 meters at 0.6 g/t Au. This zone is characterized by interlayered altered quartz-feldspar porphyries and mafic flows, with a well-foliated, strongly altered shear zone at the lower part of the sequence, containing 3 to 5% fine-grained pyrite.

The lower intersection, located beneath the conceptual open-pit model in a previously unexplored area, returned 14.2 meters at 1.2 g/t Au. This zone consists of interlayered mafic, ultramafic, and quartz-feldspar porphyries within the deposit’s footwall, showing significant alteration and pyrite mineralization, with zones containing 1-3% pyrite.

DQ24-16

Drillhole DDH DQ24-16 intersected a significant interval within the conceptual open pit model, grading 7.1 meters at 1.3 g/t Au. This zone is characterized by strongly altered quartz-feldspar porphyry sandwiched between two mafic flows, exhibiting sericite-carbonate alteration along with up to 3% pyrite mineralization throughout the zone.

Strategic Plan

The 2024 drilling campaign at Emperor’s Duquesne West Gold Project in Quebec continues to identify extensive low-grade bulk tonnage zones surrounding the previously known high grade areas. These latest results further solidify the project’s immense potential and underscore the company’s commitment to unlocking substantial value for its shareholders.

The 2024 season leverages advanced exploration techniques to test several scenarios to add ounces and/or expand the footprint:

1) Explore Lower Grade Discoveries: Target additional discoveries within the host rock containing high-grade gold lenses, focusing on the conceptual open-pit model.

2) Increase the Thickness of the High-Grade Lenses: Incorporate previously unaccounted lower-grade gold from the margins of high-grade lenses to enhance their overall thickness.

3) Expand Mineralized Zones: Extend the lateral footprint of mineralized zones along strike and dip.

4) Discover New Zones: Explore potential new zones not yet included in the conceptual open-pit model, with a particular focus on eastward expansion.

These latest results continue to build on the strong momentum generated by last year’s drilling program and confirm the presences of extensive low grade bulk tonnage zones surrounding the known high-grade regions.

Table 1 – Intercept Highlights- Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-12¹	407.3	408.3	1	0.26
	408.3	409.3	1	0.03
	409.3	410.9	1.6	0.02
	410.9	413.4	2.5	4.42
	413.4	415.9	2.5	0.07
	415.9	417.7	1.8	0.13
Note²	417.7	419.6	1.9	0.005
	419.6	421.1	1.5	0.02
	421.1	423.6	2.5	0.27
		Wt. Avg.	16.3	0.8

DQ24-12¹	497.1	498.4	1.3	2.24

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-13¹	46	47	1	0.35
	47	48	1	0.07
	48	49	1	0.05
Note²	49	50.4	1.4	0.005
	50.4	51.7	1.3	0.22
	51.7	52.7	1	0.23
	52.7	53.7	1	0.59
	53.7	54.7	1	0.24
	54.7	55.7	1	0.05
	55.7	56.9	1.2	0.12
	56.9	58	1.1	2.47
	58	59	1	0.35
	59	60	1	2
	60	61	1	0.85
	61	62	1	0.2
	62	63	1	0.92
	63	64	1	0.74
	64	65	1	0.11
	65	66.4	1.4	0.67
	66.4	67.8	1.4	0.38
	67.8	68.8	1	0.02
	68.8	70.2	1.4	0.03
	70.2	71.6	1.4	0.17
	71.6	72.6	1	0.05
	72.6	73.9	1.3	0.99
	73.9	75.3	1.4	0.14
	75.3	76.5	1.2	0.36
		Wt. Avg.	30.5	0.45
		Including (170.6-179 m)	10.9	0.86
		Including (170.6-179 m)	4.1	1.44

DQ24-13¹	215.7	216.7	1	0.4
	216.7	217.7	1	0.56
	217.7	218.7	1	1.13
	218.7	219.7	1	1.17
	219.7	220.7	1	2.09
	220.7	221.7	1	0.21
	221.7	222.7	1	2.35
	222.7	223.7	1	0.19
	223.7	224.9	1.2	0.33
		Wt. Avg.	9.2	0.92
		Including (216.7-222.7 m)	6	1.25

DQ24-13¹	237.5	238.5	1	1
	238.5	239.5	1	0.09
	239.5	240.5	1	0.02
	240.5	241.5	1	0.02
	241.5	242.7	1.2	0.2
	242.7	244.1	1.4	0.06
Note²	244.1	245.2	1.1	0.005
	245.2	246.3	1.1	0.03
	246.3	247.3	1	2.76
	247.3	248.3	1	0.21
		Wt. Avg.	10.8	0.41

DQ24-13¹	282	283.6	1.6	1.49
	283.6	284.6	1	1.03
	284.6	285.6	1	0.11
	285.6	286.6	1	0.1
	286.6	287.6	1	0.08
	287.6	288.6	1	0.06
	288.6	289.6	1	0.02
	289.6	290.6	1	0.15
	290.6	291.6	1	0.14
	291.6	292.6	1	0.84
	292.6	293.6	1	0.39
	293.6	295.1	1.5	0.01
	295.1	297	1.9	0.83
		Wt. Avg.	15	0.46

DQ24-13¹	361.2	362.2	1	0.41
	362.2	363.2	1	0.16
		Wt. Avg.	2	0.29

DQ24-13¹	388.3	389.3	1	2.16
	389.3	390.3	1	0.94
	390.3	391.3	1	0.08
	391.3	392.4	1.1	0.09
	392.4	394.4	2	0.03
	394.4	396.4	2	2.56
		Wt. Avg.	8.1	1.04

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)

DQ24-14¹	67.4	69.5	2.1	0.2
	69.5	70.9	1.4	0.44
		Wt. Avg.	3.5	0.3

DQ24-14¹	122.9	123.9	1	0.55
	123.9	124.9	1	0.01
	124.9	125.9	1	0.78
	125.9	126.9	1	0.34
		Wt. Avg.	4	0.4

DQ24-14¹	247.6	248.6	1	2.71
	248.6	249.6	1	0.03
	249.6	250.6	1	0.22
		Wt. Avg.	3	1.0

DQ24-14¹	267.8	268.8	1	1.35

DQ24-14¹	292.5	293.5	1	0.52
	293.5	294.5	1	0.32
		Wt. Avg.	2	0.4

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-15¹	207.5	209.6	2.1	0.2
	209.6	212.1	2.5	0.37
		Wt. Avg.	4.6	0.3

DQ24-15¹	270.8	271.8	1	0.21
	271.8	273.4	1.6	0.33
	273.4	274.4	1	1.04
	274.4	275.4	1	0.86
	275.4	276.4	1	1.66
	276.4	277.4	1	0.24
	277.4	278.4	1	0.19
	278.4	279.4	1	0.57
	279.4	280.4	1	0.04
	280.4	281.4	1	0.13
	281.4	282.4	1	0.79
		Wt. Avg.	11.6	0.5
		Including (273.4-276.4 m)	3	1.2

DQ24-15¹	306.6	307.6	1	0.24
	307.6	309.4	1.8	1.22
Note²	309.4	311.4	2	0.005
Note²	311.4	313.3	1.9	0.005
	313.3	314.3	1	0.46
	314.3	315.3	1	0.06
	315.3	316.3	1	0.05
	316.3	317.3	1	1.17
	317.3	318.8	1.5	0.04
	318.8	321.3	2.5	0.01
	321.3	322.7	1.4	0.02
	322.7	324.2	1.5	0.03
	324.2	325.6	1.4	2.38
	325.6	327	1.4	3.11
		Wt. Avg.	20.4	0.6
		Including (316.3-327 m)	10.7	0.8
		Including (324.2-327 m)	2.8	2.7

DQ24-15¹	339	340	1	1.3

DQ24-15¹	397.6	398.6	1	0.13
	398.6	399.6	1	0.47
		Wt. Avg.	2	0.3

DQ24-15¹	438.8	440.1	1.3	0.23
	440.1	441.1	1	7.84
	441.1	442.1	1	1.25
	442.1	443.1	1	1.3
	443.1	444.1	1	0.56
	444.1	445.1	1	0.52
	445.1	447	1.9	1.23
	447	448	1	0.08
	448	449	1	0.15
	449	450	1	0.95
	450	451	1	0.83
	451	452	1	0.41
	452	453	1	0.44
		Wt. Avg.	14.2	1.2
		including (440.1-447 m)	6.9	2.0
		including (440.1-443.1 m)	3	3.5

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
DQ24-16¹	175.7	176.7	1	1.16
	176.7	178.1	1.4	1.67
	178.1	179.6	1.5	0.24
	179.6	180.6	1	1.42
	180.6	181.6	1	0.01
	181.6	182.8	1.2	3.36
		Wt. Avg.	7.1	1.3

DQ24-16¹	252.8	253.8	1	0.56
	253.8	254.8	1	0.15
		Wt. Avg.	2	0.4

DQ24-16¹	297.8	298.8	1	0.23
	298.8	299.8	1	0.44
		Wt. Avg.	2	0.3

DQ24-16¹	316.8	317.8	1	0.16
	317.8	318.8	1	0.04
	318.8	319.8	1	0.03
	319.8	321	1.2	1.4
		Wt. Avg.	4.2	0.5
¹Host Structures are interpreted to be steeply dipping and true widths are generally estimated to 90%.
²Value reported below detection limit of <0.01. Value was numerically halved to assign a real number.

Quality Assurance and Control

The Quality Assurance and Quality Control (QAQC) was conducted by Technominex, a geological contractor hired by Emperor Metals, which adheres to CIM Best Practices Guidelines for exploration related activities conducted at its facility in Rouyn Noranda, Quebec. The QA/QC procedures are overseen by a Qualified Person on site.

Emperor Metals QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and lab duplicates within the sample stream totaling approximately one QA/QC sample per 7 samples. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags with appropriate tags and shipped to the SGS Sudbury laboratory and the other half retained on site in the original core box. A dispatch list consists of 88 or 176 samples along with their corresponding QA/QC samples for a single batch. This allows complete batches (88 samples) for fire assay. A file for sample tracking records tags used and weights of sample bags shipped to the SGS Lakefield. Shipment is done by Manitoulin Transport and coordination by Technominex staff in Rouyn-Noranda

The third-party laboratory, SGS prep laboratory in Sudbury Ontario, processes the shipment of samples using standard sample preparation (code PRP91) and produces pulps from the specified samples. The pulps are then sent off to SGS Burnaby for analysis. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility all the way to analysis at the SGS Burnaby B.C. laboratory.

Analytical testing is performed by SGS laboratories in Burnaby, British Columbia. The entire sample is crushed to 75% passing 2mm, with a split of 500g pulverized to 85% passing 75 microns. Samples are then analyzed using Au – ore grade 50g Fire Assay, ICP-AES with reporting limits of 0.01 -100 part per million (ppm). High grade gold analysis based on the presence of visible gold or a fire assay result exceeding 100 ppm, are analyzed by Au – metallic screening, 1kg screened to 106μm, 50g fire assay, gravimetric, AAS or ICP-AES of entire plus fraction and duplicate analysis of minus fraction. Reporting limit 0.01ppm.

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, Quebec, Canada. 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 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. (TSX: GMX). 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 Canadian Institute of Mining and Metallurgy (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.

A reinterpretation of the existing geological model was created using AI 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:

1) Underground High-Grade Gold.
2) Open Pit Bulk Tonnage Gold.
3) 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 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 a high-grade gold exploration and development junior mining company focused on Quebec’s Southern Abitibi Greenstone Belt, leveraging AI-driven exploration techniques. The Company is dedicated to unlocking the substantial resource potential of the Duquesne West Gold Project and the Lac Pelletier Project (currently under purchase agreement) both situated in this Tier 1 mining district.

The Company is led by a dynamic group of resource sector professionals who have a strong record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value. For more information, please refer to SEDAR+ (www.sedarplus.ca), 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.

Contact:

John Florek
President/CEO
T: (807) 228-3531

Alex Horsley
Director
T: (778) 323-3058
E: alexh@emperormetals.com
Website: www.emperormetals.com

THE CANADIAN SECURITIES EXCHANGE HAS NOT APPROVED NOR DISAPPROVED THE CONTENT OF THIS PRESS RELEASE.

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 the 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238781

Base Metals Junior Mining Precious Metals Project Generators

Riverside Resources Announces Spin-Out of Ontario Gold Projects into New Company, Blue Jay Gold Corp, for Existing Shareholders

Post author By admin
Post date January 28, 2025

Vancouver, British Columbia–(Newsfile Corp. – January 28, 2025) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce the execution of a definitive arrangement agreement with Riverside’s subsidiary, Blue Jay Gold Corp. (“Blue Jay”) in respect of the spin-out of its Pichette, Oakes and Duc projects (the “Ontario Gold Projects”), located in Ontario, Canada, to its shareholders by way of a share capital reorganization effected through a statutory plan of arrangement (the “Arrangement”) pursuant to the arrangement provisions of the Business Corporations Act (British Columbia) (the “Act”). Under the Arrangement, Riverside will distribute the common shares (each, a “Blue Jay Share”) of Blue Jay to Riverside’s shareholders. Should the arrangement become effective, Riverside shareholders would own shares in two public companies: Blue Jay, which will focus on the development of the Ontario Gold Projects, and Riverside, which will continue to build its diverse portfolio of projects in Canada, Mexico, and its royalty interests, while also generating new prospective mineral properties, as it has successfully done for the past 17 years.

Under the Arrangement, Riverside’s current shareholders will receive Blue Jay Shares by way of a share exchange, pursuant to which each existing common share of Riverside will be exchanged for one new common share of Riverside (each, a “New Riverside Share”) and 1/5th of a Blue Jay Share. Holders of Riverside options will be entitled to receive the same number of New Riverside Shares and 1/5th of that number of Blue Jay Shares. On completion of the Arrangement, Riverside shareholders and holders of Riverside options will maintain their interest in Riverside and will obtain a proportionate interest in Blue Jay.

The reorganization will be effected pursuant to s. 289 of the Act, and must be approved by the Supreme Court of British Columbia and by the affirmative vote of 66 2/3% of Riverside’s shareholders in attendance at a shareholders’ meeting to be held on March 31, 2025 (the “Meeting”). Riverside will apply for a listing of the Blue Jay Shares on the TSX Venture Exchange (“TSX-V”). These steps mirror the process Riverside followed when creating, spinning out, distributing, and listing Capitan Silver Corp. (TSXV: CAPT). Similarly, Riverside shareholders received shares in the new company while retaining their full ownership of Riverside shares.

Riverside expects that the Arrangement will increase shareholder value by allowing capital markets to ascribe value to the Ontario Gold Projects through Blue Jay Gold independently of the royalties and other properties held by Riverside. The spin-out will provide new and existing shareholders with more flexibility as to their specific investment strategy and risk profile. Riverside also believes that having a separately funded early-exploration business will accelerate development of the Ontario portfolio. Riverside will retain a 2% NSR on each of Blue Jay Gold’s properties.

“We are thrilled to announce the spin-out of Blue Jay Gold Corp., which represents another exciting milestone in Riverside’s strategy to unlock value for our shareholders,” stated Riverside Founder and CEO, John-Mark Staude. “Through this share distribution, Riverside shareholders will directly own a stake in Blue Jay Gold and its promising Ontario gold assets, while we retain a 2% uncapped Net Smelter Return (NSR) royalty. This transaction provides shareholders with direct benefits by granting them ownership of Blue Jay’s common shares, allowing them to participate in Blue Jay’s exploration upside and further development potential, while Riverside retains long-term exposure to the success of these high-grade gold projects.”

“This spin-out is another example of our commitment to create shareholder value through strategic initiatives. Following the success of our previous spin-out, Capitan Silver, Blue Jay Gold is well-positioned to advance exploration under the leadership of Dr. Geordie Mark. We are enthusiastic about Blue Jay’s potential to deliver strong results and further growth opportunities as an independent exploration company, while Riverside continues to focus on building its own pipeline of high-quality assets and partnerships.”

“As the founding CEO and Director of Blue Jay Gold, I am thrilled to lead the company in unlocking the potential of our exceptional gold assets,” commented Dr. Geordie Mark. “Ontario, with its rich mining history and supportive environment, provides the perfect foundation for discovery and growth. I am confident that Blue Jay will deliver significant value to our shareholders and make a meaningful impact on gold exploration in Canada.”

Completion of the Arrangement is subject to a number of conditions, including the following:

(a) Riverside shareholder approval at the Meeting;

(b) the approval of the Supreme Court of British Columbia;

(d) TSX-V approval for the listing of the Blue Jay Shares upon completion of the Arrangement; and

(e) completion by Blue Jay of a private placement to raise gross proceeds of up to $4,000,000.

Upon completion of the Arrangement, it is intended that the senior management of Blue Jay will consist of Geordie Mark, as the Chief Executive Officer, Robert Scott, as the Chief Financial Officer, and Freeman Smith, as the Vice-President, Exploration. Blue Jay’s board of directors will consist of Geordie Mark, John-Mark Staude (Chairman) and one or more additional directors. Changes and additions to the management team and board will be made as needed as the Ontario Gold Projects progress.

Additional details of the spin-out transaction will be included in an information circular to be mailed to shareholders of Riverside in February 2025 in connection with the Meeting. The Arrangement is expected to close in the first half of 2025.

Click this link to view John-Mark’s bold plans for Riverside Resources in 2025:
https://www.youtube.com/watch?v=RzYhzXaDt8E

Blue Jay Completes Seed Round of Financing

Effective December 18, 2024, Blue Jay completed a private placement of 2,735,000 Blue Jay Shares at an issue price of $0.20 per Blue Jay Share for gross proceeds of $527,000.00. Following the private placement, Riverside holds 85.02% of the issued and outstanding Blue Jay Shares.

Certain directors and officers of Riverside participated in the private placement, subscribing for 300,000 Blue Jay Shares in the aggregate; each such subscription for the Blue Jay Shares being a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Company’s market capitalization.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

Riverside welcomes inquiries, signing up at the Riverside website for more information and contacting the Company at the information below.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Eric Negraeff
Investor Relations
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238650

Base Metals Diamcor Mining Energy Junior Mining Precious Metals

Diamcor Signs Letter of Intent with Dubai Based Company for a USD $5.0M Term Loan

Post author By admin
Post date January 27, 2025

KELOWNA, BC / ACCESS Newswire / January 27, 2025 / Diamcor Mining Inc. (TSX-V: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 is pleased to announce the Company has entered into a non-binding letter of intent for a non-dilutive financing (the “Financing”) of up to USD $5,000,000 with a well-established Dubai based manufacturer and supplier of bridal and anniversary diamonds to the global market. The commercial terms of the Financing will be finalized in the course of negotiating the associated definitive documentation and are expected to include a security interest, an interest component and a revenue participation component. The proceeds of the Financing will be used to expedite the processing of previously stockpiled oversized material, the concurrent deployment of additional assets aimed at significantly increasing processing volumes for the long-term at the Company’s Krone-Endora at Venetia Project (the “Project”), as well as, the continued advancement of the work programmes previously underway, bulk sampling in the greater areas of the Project, and for general corporate purposes. There will be no issuance of any shares or warrants associated with the Financing.

“This financing is the result of long-term relationships we have developed with key associates in Dubai over many years, and the mutual vision our companies share on the merits of building a growing supply of gem quality non-conflict natural rough diamonds for the luxury jewelry sector”, noted Diamcor CEO Mr. Dean Taylor. “While 2024 was a challenging year for everyone in the diamond industry, we believe the factors responsible for this will ultimately begin to stabilize by the second half of 2025, and this financing will help to ensure we are well positioned and ready for this anticipated recovery”.

The Financing is subject to the regulatory approval of the TSX Venture Exchange along with completion of all definitive documentation and filings as required.

Results of 2024 Annual General and Special Meeting

The Company also wishes to announce that Shareholders passed each of the resolutions described in the Company’s proxy materials by the required majority of voting at the Company’s Annual General and Special Meeting (the “AGM”) held on December 30, 2024.

The total number of votes cast for each resolution is set out in the table below.

	NUMBER OF SHARES						PERCENTAGE OF VOTES CAST
MOTIONS	FOR		AGAINST	WITHHELD/ ABSTAIN	RESTRICTED	NON VOTE	FOR	AGAINST	WITHHELD/ ABSTAIN
Number of Directors	88,320,583		203,568	0	0	0	99.77%	0.23%	0.00%
Dean H. Taylor	86,003,393		0	1,380,398	0	1,140,360	98.42%	0.00%	1.58%
Darren Vucurevich	86,642,334		0	741,457	0	1,140,360	99.15%	0.00%	0.85%
Dr. Stephen Haggerty	86,847,334		0	536,457	0	1,140,360	99.39%	0.00%	0.61%
D. Wayne Howard	87,365,156		0	18,365	0	1,140,360	99.98%	0.00%	0.02%
Appointment of Auditors	88,524,116		0	35	0	0	100.0%	0.00%	0.00%
Amendment to Stock Option Plan	64,644,242	*	2,183,438	0	20,556,111	1,140,360	96.73%	3.27%	0.00%

*Excluding 20,556,111 shares held by Insiders

TOTAL SHAREHOLDERS VOTED BY PROXY: 41

TOTAL SHARES ISSUED & OUTSTANDING: 168,638,937

TOTAL SHARES VOTED: 88,524,151

TOTAL % OF SHARES VOTED: 52.49%

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. 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. Well known Luxury Retailer Tiffany & Co provided the Company with financing to expedite the advancement of the Project and holds a first right of refusal to acquire rough diamonds under 10.8 carats in size at then market prices for the life of the Project. 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 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 is also advancing 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

For Investor Relations contact:

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us

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.

SOURCE: Diamcor Mining Inc.

View the original press release on ACCESS Newswire

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