Category: Junior Mining

Rudi Fronk | Seabridge Gold – Leverage Play To Rising Gold Prices

Post author By admin
Post date March 15, 2019

Mar 14, 2019 02:37 pm

By Remy Blaire

Rudi Fronk, Chairman and CEO of Seabridge Gold.

GOLD ILLUMINATES MATERIALS SECTOR

Gold recovered the $1,300 level and came off lows of the month as the dollar weakened and as Brexit jitters permeated investor sentiment. After regaining its highest level in two weeks the precious metal tested a resistance level of $1,307 an ounce. Spot gold for April delivery managed to settle above $1,309 an ounce in midweek trade but retreated below the $1,300 level as the U.S. currency strengthened on Thursday.

Concerns about the slowdown in global growth and the outcome over the U.S.-China tariff dispute are ongoing. Yet the broader market has come off recent lows and recovered from the Christmas Eve bear market of 2018. The Federal Reserve’s “patient” approach to interest rate hikes and the possibility of an “adjustment” to the unwinding of is balance sheet have supported the market turnaround.

It’s been a wild ride for gold and now the yellow metal may be past the inversion phase of the recent rollercoaster ride. U.S. economic data is lukewarm but supportive of the Fed’s current position on rate hikes.

On Wednesday, the U.K. Parliament rejected a no-deal Brexit. In a close decision, MPs voted to reject leaving the EU without a withdrawal agreement. On Thursday, MPs will vote on delaying Brexit and request an extension to Article 50. If the vote passes and the EU agrees – the U.K. will not leave on March 29.

On this side of the Atlantic, U.S. equities continued to recover with the DJIA eyeing the so-called “golden cross” chart pattern. The benchmark equity average could see its 50-day moving average (DMA) cross above the 200-DMA. While the technical indicator could point to a long-term bull market, the breakout pattern is a lagging one and never a guarantee of future performance.

SURVIVAL OF THE FITTEST IN GOLD MINING

Gold mining stocks can be an indicator of how the gold market is faring. The stocks are oftentimes seen as a way to get leveraged exposure to gold prices.

The biggest players in the sector are making headlines for mergers and venture announcements. Barrick Gold Corp and Newmont Mining Corp formed a joint venture in Nevada. Earlier this year, Newmont Mining acquired Goldcorp, creating the largest gold miner in the world. Several months ago Barrick Gold scooped up Randgold Resources.

In the aftermath of the 2011 commodity crash there were expectations of more mergers for the junior mining companies. The deals that took place among the gold miners in 2018 totaled over $59 billion but amounted to less than half the sum seen during the peak in 2011.

At the same time, there have been other notable deals recently including Newcrest Mining’s move into Canada. Newcrest and Imperial Metals agreed to a joint venture for a majority stake in a B.C. mine. Meanwhile, Newcrest also entered into a deal with Greatland Gold for a gold-copper project.

SEABRIDGE GOLD – IRON CAP GOLD AND COPPER RESOURCES AMPLIFIED

Seabridge Gold (TSX: SEA) (NYSE: SA) is a development stage company based in Toronto, ON. The company’s main projects include the Kerr-Sulphurets-Mitchell (KSM) property in British Columbia, the Courageous Lake property in the Northwest Territories, the Iksut Property located in NW B.C.

Seabridge evaluates, acquires and is involved in the exploration and development of gold properties in North America and has other resource projects on the continent. The Snowstorm Project is located in Nevada at the intersection of the main gold trends in the northern region on the U.S. state.

The KSM project is one of the world’s largest undeveloped gold projects in the world. Seabridge Gold recently announced an updated independent mineral resource estimate for its Iron Cap deposit. This deposit is one of four gold and copper porphyry deposits within the KSM project. Worthy of note is that the project is 100% owned by Seabridge.

The company updated its resource estimate for its Iron Cap project that boosts the project’s indicated resource by 460,000 ounces gold and 177 million pounds copper. In turn the project’s inferred resource is expanded by 7.45 million ounces gold and 4 billion pounds copper.

Rick Rule, president and CEO of Sprott U.S. Holdings spoke with Seabridge Gold’s CEO, Rudi Fronk for a brief interview segment. After the latest Iron Cap update, Fronk remarked that the new estimate could lead to the company prioritizing the deposit ahead of others in the overall project plan:

The “exploration success at Iron Cap … gives us greater flexibility to optimize project economics. Iron Cap is closer to infrastructure than Kerr and Sulphurets and its development could be faster and less costly … Iron Cap clearly has the size and grade to justify early inclusion in the mining sequence.”

Fronk says the Iron Cap “resource additions … have met our annual corporate objective of increasing gold ownership on a per share basis. In 2018, our shares outstanding increased by approximately 3.6 million shares resulting from new financings to fund our programs plus other share issuances.”

Seabridge Gold has a market capitalization of nearly $1 billion.

Listen to Rick Rule’s interview with Seabridge Gold’s Chairman and CEO, Rudi Fronk. To hear Fronk’s thesis on gold and learn about Seabridge’s track record and global resources:

http://traffic.libsyn.com/sprottmedia/Seabridge_Gold_Rudi_Fronk.mp3
Read in browser »

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Energy Has A Little Gas Left In The Tank

Post author By admin
Post date March 15, 2019

Original Source: https://www.allpennystocks.com/allpennypro/article.aspx?articleid=27658
Thursday, March 14, 2019

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As we evaluate different sectors, we consider a wide swath of factors, such as what they’ve done over the last year, how they typically perform in this type of political and fiscal policy environment and even if the particular time of the year has an effect. To be completely transparent, we considered utilities and REITS, which this week broke out to record highs. The technician in us says the breakout should carry those sectors higher, in part because they benefit from the Federal Reserve taking a more dovish stance on raising interest rates. Our only trepidation is that if we start seeing signs of greater economic strength, traders might turn their backs on these sectors, causing the run to turn over.
Rather than talk about what we didn’t select to discuss this month (apologies…we couldn’t leave out that commentary), we’d like to advise investors to keep an eye on the energy sector, which is a collection of stocks spanning energy businesses like oil, gas, consumable fuel, renewable/alternative, services and equipment. For starters, March has historically been a solid month for the Energy Select Sector SPDR (NYSE:XLE), the benchmark ETF for energy plays. According to CXO Advisory data, XLE has been the best performing SPDR ETF in March since the SPDR ETFs began trading 20 years ago. So far, XLE is up 1.12% this month, compared to its average return of 2.9%.
Even better, XLE is also the top performer in April at 3.7%. If that trend will continue, the energy sector will add to a solid 2019 to date, where it is ahead by about 15% through Wednesday. That’s a nice recovery after energy was the S&P 500’s worst performing sector in 2018 with XLE shedding 18.2%.
In fairness, a lot of the gain has been at the hands of Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM), as the two oil stalwarts cumulatively comprise more than 40% of XLE’s weight (XOM: 23.36%, CVX: 19.72%). Both stocks are up more than 10% in 2019, carrying XLE higher.
Since printing $107 in June 2014, spot oil prices fell off a cliff, plummeting as low as $26.05 in February 2016 before turning things around. The clear culprit for the steep drop was oversupply, a problem that looms globally today. On the strength of the Organization of Petroleum Exporting Countries (OPEC) and its allies going to great lengths to curb output and support oil prices, spot crude climbed back to a $40-$55 range for more than a year before making the next leg up in November 2017 to swell to a high of $76.90 in October 2018. Subsequently, another collapse occurred, driving oil back down to a low of $42.36 in December. Another recovery has ensued in 2019, lifting oil prices back to the upper $50’s.
While energy stocks are frequently bootstrapped to the price of a barrel of oil, we expect a little bit of a slingshot effect based on fundamentals, not oil prices, in the future. This is due to the fact that earnings actually grew in the energy sector in 2018, but the market failed to reflect the expansion. To that point, there has been no improvement in valuation metrics between current levels and when oil was bottoming near $26 a barrel in 2016. In fact, XLE trades at a slightly lower valuation than the 15x trailing 12-month earnings that it did back when oil bottomed in February 2016.
In addition to oversupply, there are other factors that have a choke hold on confidence in the oil and gas industry. Namely, regulation is a concern. Eldar Sætre, CEO of Equinor, Norway’s biggest energy company, acknowledged this on Monday at the CERAWeek by IHS Markit conference, noting that environmental issues threaten the industry and that O&G companies must unitedly take a progressive approach to combat emissions and pollution.
So, with a large shortfall in demand versus supply and environmental issues that can’t be rapidly corrected, why are we bullish on energy? The answer is: “just for right now.” We’re looking at the sector for the next six weeks of so and we’ll have to see what happens come summer (the driving season) and reassess gasoline inventories to get a better understanding on potential market direction. What we are also banking on is history and the fact that the energy sector has typically been an outperformer March and April.

This dive into the sector uncovered many beaten down companies in the small or microcaps space that have languished with the sell-off in energy at the end of last year. It’s fair to say that energy plays abound in the microcap space, but we recommend sticking to those generating revenue, whether it be a producer like the three below or a services company like Profire Energy (NASDAQ:PFIE).
Broadly speaking, there is no shortage of companies that can be argued as value plays given depressed valuations as Wall Street questions the energy sector at the moment.
Jericho Oil Corp. (OTCPK:JROOF) (TSX-Venture:JCO), is focused on domestic, liquids-rich unconventional resource plays, located primarily in the oil-prone Meramec and Osage formations in the Anadarko basin STACK Play of Oklahoma, a region trumpeted by some as the next great U.S. oil play. To that point, majors likes ExxonMobil, Chesapeake Energy, Sandridge Energy and Chaparral Energy continue to put considerable capital resources in and around Jericho’s STACK acreage position. Jericho has assembled an interest in 55,000 net acres across Oklahoma, including an interest in ~16,000 net acres in the STACK Play. The Tulsa-based company recently released preliminary 2018 full-year partnership production, which hit a record high of approximately 297,000 barrels of oil equivalent (BOE), up 33% from 2017’s total. Furthermore, Jericho cut operating expenses by 30% to about $17.00/BOE. At 42 Canadian cents per share, JCO is commanding a market cap of just $54 million.
Northern Oil and Gas, Inc. (NYSE American:NOG), which runs a non-operator model, also delivered record results in 2018. The company controls leasehold of approximately 157,000 net acres targeting the Williston Basin Bakken and Three Forks formations in North Dakota and Montana, and approximately 93% of its total acreage position was developed, held by production or held by operations. During Q4, production increased 117% over the prior year and 36% over the prior quarter, averaging a record of 36,258 BOE per day. Furthermore, lease operating expenses and general and administrative expenses were each down 26% per BOE from the prior year. For all of 2018, production increased 73% year-over-year, averaging a record 25,555 BOE per day. The company was profitable, generating net income of $143.7 million, or 61 cents per diluted share, reversing from a net loss of 15 cents per diluted share in 2017. Shares of NOG got more than halved from a 52-week high ($4.49) in October to an eight-month low at $1.87 in December. The stock is trying to make up some lost ground, trending back into the mid-$2 range as it closes in on a $1 billion market cap.
Lonestar Resources US (NASDAQ:LONE) is another that recently pumped out more oil than it had ever before in a quarter. Lonestar is an independent oil and natural gas company, focused on the development, production and acquisition of unconventional oil, NGLs (natural gas liquids) and natural gas properties in the Eagle Ford Shale in Texas. The company has accumulated approximately 78,193 gross (57,491 net) acres in what it believes to be the formation’s crude oil and condensate windows. For the fourth quarter, Lonestar reported an 81% increase in net oil and gas production to 13,152 BOE per day, compared to 7,272 BOE per day for the three months ended December 31, 2017. The company’s record production volumes exceeded its guidance of 12,600 – 12,800 BOE/D and were 80% crude oil and NGL’s on an equivalent basis. Lonestar reported net income of $75.2 million during 4Q18 compared to a net loss of $17.6 million during 4Q17, while citing certain non-recurring items in the big gain. Excluding those items, Lonestar’s adjusted net income for 4Q18 was $5.4 million, or $0.22 per basic common share. Lonestar has reiterated its previously-issued 2019 production guidance of 13,700 to 14,700 BOE per day for 2019, which equates to production growth of 27% over 2018 levels. Last July, shares of LONE traded as high as $11.24 before diving to a low of $3.41 in December. Shares are currently trading at $4.27, equarting to a market capitalization of approximately $105 million.

Base Metals Junior Mining

NEVADA COPPER | Pumpkin Hollow Progress and Construction Update

Post author By admin
Post date March 14, 2019

As we approach the middle of March, it’s time to share the latest construction update and site photos. Once again, we remain on track to enter production in Q4 of this year.

(Main shaft headframe, east north vent shaft headframe and surrounding works)

East Main Shaft

We have completed the utilities and ventilation infrastructure down the entire length of the main production shaft to supply power and air to the 2850 and 2770 levels. With the installation of utilities complete, work has resumed on lateral development at the 2770 and 2850 levels. Excellent progress has been made during the last few months with over 600ft of lateral development now complete. Underground infrastructure, including a temporary powder magazine, temporary shop, sumps and mucking bays, has either been completed or is in the process of development.

Up next: Complete lateral development to the bottom of the East North Ventilation shaft on the 2850 level and start full face mechanized lateral development on the 2770 level.

(Mucker and vent bag during lateral development)

East-North Vent Shaft

The East North ventilation shaft has been completed and commissioned. Strong progress has been made during the learning curve for sinking and vertical development has advanced over 260 feet from surface.

Up next: Continue to sink shaft while meeting scheduled development targets. Set up the Alimak mining method at the bottom of the East North Ventilation shaft to begin excavation of the bottom 300 feet and the loading pockets. Surface Works Excellent progress has been made on the surface process plant as follows:

SAG mill foundation has been completed and the pedestal rebar is being installed
The regrind mill foundations have been set and poured
Conduits for the Ball, SAG, Regrind mills have been completed
Water tank has been formed and concrete poured
Conduit and initial concrete slab have been completed for the Thickener Tank
Equipment procurement is over 60% complete.

Additionally, the tender process for the administration and change room building is complete and we are entering into final negotiations.

The detailed requests for quotations have been issued to multiple firms for the paste backfill plant.
Up next: Completion of engineering works and the majority of equipment procurement. Additional foundation works for the process plant. Commencement of construction of the admin/dry building. Receipt of bids for the paste backfill plant.

(Vertical formwork for SAG mill foundation)

(Process fresh water tank)

Additional Information

For further information please visit the Nevada Copper corporate website (www.nevadacopper.com) and visit our Pumpkin Hollow virtual tour.

NEVADA COPPER CORP.

Matthew Gili, President and CEO

Further information call:

Rich Matthews
VP Marketing and Investor Relations
Nevada Copper Corp
rmatthews@nevadacopper.com
1 (877) 648-8266 – Work | (604) 355-7179 – Mobile
www.nevadacopper.com

Junior Mining

IRVING RESOURCES Commences Diamond Drilling at its Omu Gold Project in Hokkaido, Japan

Post author By admin
Post date March 13, 2019

March 13, 2019

Vancouver, British Columbia, March 13, 2019 (Globe Newswire) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce all necessary work permits have been received for its drill crew, and it has commenced diamond drilling at its Omu Gold Project in Hokkaido, Japan. Drilling is being conducted by Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) and Rodren Drilling International Ltd., Winnipeg, Manitoba. The first target that will be tested is the Omu Sinter, an 8-20 meter thick terrace of silica that was deposited within an ancient hot-spring pool.
Irving discovered the Omu Sinter in late 2016, and subsequent prospecting resulted in collection of spot rock chip samples grading up to 14.6 gpt Au and 50.8 gpt Ag along with strongly elevated arsenic (676 ppm), mercury (>100 ppm), antimony (1,675 ppm) and selenium (93 ppm), all elements associated with hot spring mineralization (please refer to the Company’s news release dated September 21, 2017 for further details). Geophysical data, including drone-based magnetics and gravity, collected in late 2017 revealed evidence of a prominent north-south structural zone under Omu Sinter, a potential conduit for hydrothermal fluids that once fed the hot spring (please refer to the Company’s news release dated January 22, 2018 for further details).
Irving has eight initial holes planned to test areas underneath the sinter terrace for feeder structures that could potentially host epithermal gold-silver veins. Holes will be inclined and drilled to depths of 300-425 meters to test the prospective boiling zone, the part of a hot spring system in which potentially high-grade mineralization can be deposited. Planned holes are staggered over approximately 1.2 km of strike along the targeted structural zone. Should results from these first eight holes prove promising, Irving has an additional 15 holes fully permitted to further test this important target.
Omu Sinter (also known as Otoineppu mine), is the first target of Irving’s 2019 Omu exploration program. Drilling at Omui mine site, where Irving has identified three robust drill targets (Honpi, Nanko and Sakinyama), will commence in approximately 2-3 months following completion of trench and bulk sample work at Omui. Irving also plans to expedite baseline work including soil sampling and geophysical surveys at its new Hokuryu West target so that drill targets can be outlined there later this year.
“We are delighted to commence drilling at our Omu Gold Project,” commented Akiko Levinson, President and Director of Irving Resources. “Drilling at Omu Sinter is just the beginning of a long list of exploration objectives Irving has at Omu this year. In a few months, we will be trenching, bulk sampling and diamond drilling our three high priority targets at the nearby Omui mine site. We also plan aggressive follow-up field-work at our newly discovered high-grade Hokuryu West target so that it can be readied for drilling. This year is shaping up to be a very busy one for Irving.”
Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.
About Irving Resources Inc.:
Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.
Additional information can be found on the Company’s website: www.IRVresources.com.
Akiko Levinson,
President & Director
For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 641-1214
info@IRVresources.com
Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation. Forward-looking statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource exploration industry as well as Irving having sufficient cash to fund any planned drilling and other exploration activities.
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

Junior Mining

CALIBRE MINING Exploration and Drilling Update at the Eastern Borosi Project in Nicaragua

Post author By admin
Post date March 13, 2019

Exploration and Drilling Update at the Eastern Borosi Project in Nicaragua

March 13, 2019
Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to provide an update for the 2019 exploration and drilling program on the Eastern Borosi Gold-Silver Project in Nicaragua (the “Project”). Exploration and drilling on the Project is currently being funded by Calibre’s joint-venture partner, IAMGOLD Corporation (“IAMGOLD”).
Highlights

The 2019 drilling program consisting of an estimated 6,000 metres of diamond drilling has commenced and the first two drill targets consist of follow-up drilling on two successful high-grade Au-Ag discoveries from 2018 where drill intercepts include;
- 1.55 metres grading 54.68 g/t Au and 3,957 g/t Ag (179.11 AuEq) on the San Cristobal gold-silver vein-structure
- 4.38 metres grading 13.22 g/t Au and 9.5 g/t Ag (13.37 AuEq) from the Main structure on the La Luna gold-silver vein-structure and a second intercept in the same drill hole of 4.45 metres grading 4.96 g/t Au and 151.5 g/t Ag (7.29 AuEq) from a newly discovered Sulphide-Rich Zone.

President and CEO Greg Smith stated: “It is exciting to be starting the 2019 program at the Eastern Borosi Project, with follow-up drilling at the high-grade San Cristobal and La Luna gold-silver vein systems. Further, a series of high priority discovery drill targets with no previous drilling will be tested as part of the 2019 program.”
2019 Exploration and Drilling Program
The 2019 exploration program was initiated in January 2019 with target definition and advancement work consisting of soil and rock sampling as well as follow-up trenching designed to prioritize additional drilling targets for 2019. This work is advancing a series of targets defined by previous exploration and includes on-strike extensions to existing deposits and new areas which have not been previously drill tested.
The drilling program commenced in March 2019 and the first set of drill holes consist of follow-up drilling on two successful high-grade discoveries from the fourth quarter of 2018 – San Cristobal and La Luna (see table below).

Hole ID	Mineralized Zone	From m	To m	Length (m)	AuEq (g/t)	Au (g/t)	Ag (g/t)	Pb (ppm)	Zn (ppm)
SC18-002	San Cristobal	94.31	95.86	1.55	115.56	54.68	3,957	4,649	9,788
LL18-020	La Luna
	Main Structure	127.16	131.54	4.38	13.37	13.22	9.5	70	158
	Sulphide Zone	155.36	159.81	4.45	7.29	4.96	151.5	52,210	54,630

Notes:
1. Intervals are core lengths; true width are estimated to be 80-90% of core lengths.
2. Length weighted averages from uncut assays.
3. Grams per tonne (g/t) gold equivalent (AuEq) calculated using $1,300/oz Au and $20/oz Ag.
At San Cristobal, the follow-up drilling includes along-strike and down-dip step outs spaced at approximately 75 metre centers. At La Luna, drilling will test the lateral and vertical extensions of the Main Structure and Sulfide Zone structure.
Additional drilling is planned for the first half of 2019 on the Riscos de Oro SW extension target, approximately one kilometre south-west of the Riscos de Oro Deposit, part of a more than four kilometer trend, where previous soil and rock geochemistry, trenching, and linear topographic features provide a priority drill target.
The 2019 exploration and drilling program includes plans to complete an estimated 6,000 metres of diamond drilling, concurrent with target generative and advancement work. The drilling metres are projected to be evenly split between follow-up drilling and first pass discovery drilling.
In addition to the drilling, generative exploration is underway, including targeted soil sampling and surface rock sampling, over areas where previous work outlined anomalous gold and silver often associated with base metals. The results of the first six months will be reviewed and priority targets tested with first pass, discovery oriented, drilling in the second half of 2019.
IAMGOLD / Calibre – Eastern Borosi Project
A 2018 resource estimate for the Project (see news release dated April 3, 2018) by Roscoe Postle Associates Inc. estimated an Inferred Mineral Resource totaling 4.42M tonnes grading 5.72 g/t AuEq (4.93 g/t Au and 80 g/t Ag) containing 812,000 ounces AuEq. Exploration to date has outlined kilometres of highly prospective mineralized structures located in a historic gold-silver mining district.
IAMGOLD has completed the First Option having made US$450,000 in payments to Calibre and completed US$5 million in expenditures and has earned a 51% interest in the Project. IAMGOLD has entered the Second Option with the right to earn a further 19% in the Project (by completing additional cash payments totalling US$450,000 and further exploration expenditures totaling US$5 million) having paid the first and second installments of US$150,000 each and funding the on-going 2019 work program. The total potential investment by IAMGOLD to earn a 70% interest in the Project is US$10.9 million.
Calibre Mining Best Practice
Calibre is committed to best practice standards for all exploration, sampling and drilling. Drilling was completed by independent firm Continental Drilling. Analytical quality assurance and quality control includes the systematic insertion of blanks, standards and duplicates. Samples are placed in sealed bags and shipped directly to Bureau Veritas Lab in Managua, Nicaragua for sample preparation and then to Vancouver, Canada for 50 gram gold fire assay and ICP-MS multi element analyses. The technical content in this news release was read and approved by Gregory Smith, P.Geo, President and CEO of the Company who is the Qualified Person as defined by NI 43-101.
About Calibre Mining Corp.
Calibre owns a 100% interest in over 518 km2 of mineral concessions in the Mining Triangle of Northeast Nicaragua including the Primavera Gold-Copper Project and Santa Maria Gold Project. Additionally, the Company has optioned to IAMGOLD (176 km2) and is party to a joint venture on the 33.6 km2 Rosita D gold-copper-silver project with Rosita Mining Corporation and Century Mining. Calibre’s resources total 2.44 million AuEq ozs of Inferred Resources in four deposits on the Borosi gold-silver projects – see web site for details. Major shareholders of Calibre include gold producer B2Gold Corp, Lukas Lundin and management.
Calibre Mining Corp.
“Greg Smith”
Greg Smith, P.Geo.
President and CEO
For further information contact:
Ryan King
604 628-1012
www.calibremining.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward Looking Statements
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
Safe Harbor Statement under the United States Private Securities Litigation Reform Act of 1995: Except for the statements of historical fact contained herein, the information presented constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements including but not limited to those with respect to the price of gold, potential mineralization, reserve and resource determination, exploration results, and future plans and objectives of the Company involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Calibre to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
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Base Metals Junior Mining Project Generators

FISSION 3 Completes Binding Earn-In Agreement for up to $22mm with Rhyolite

Post author By admin
Post date March 13, 2019

News Release Issued: Mar 13, 2019 (9:00am EDT)

Fission 3 Completes Binding Earn-In Agreement for up to $22mm with Rhyolite

TSX VENTURE SYMBOL: FUU
KELOWNA, BC, March 13, 2019 /CNW/ – Fission 3.0 Corp. (“Fission 3” or the “Company“) is pleased to announce that, further to its news release on August 16, 2018, it has entered into a binding agreement (the “Earn-In Agreement“) with Rhyolite Lithium Corp. (“Rhyolite“), pursuant to which Rhyolite can earn up to an 80% interest in Fission 3’s mining concessions located in Peru (the “Peruvian Assets“) by spending up to C$22 million over a five-year period (the “Earn-In“).

Pursuant to the Earn-In Agreement, Rhyolite is required to spend a minimum of C$5.5 million prior to December 31, 2020 to earn a 50% interest in the Peruvian Assets (“Stage One“), and has the option to spend a further C$16.5 million over the following three years to earn an additional 30% interest in the Peruvian Assets (“Stage Two“). If Rhyolite does not complete Stage One, Rhyolite will earn no interest in the Peruvian Assets, and if it elects to begin, but does not complete, Stage 2, it will only be granted a portion of the additional 30% interest.
In connection with the entrance into the Earn-In Agreement, and as consideration for the Earn-In, Fission 3 was issued 19.9% of the issued and outstanding shares of Rhyolite and was granted a right to participate, on a pro rata basis, in all future financings of Rhyolite to maintain its proportionate interest in Rhyolite.
Fission 3 will remain the operator of the Peruvian Assets until the completion of Stage One.
CEO Dev Randhawa commented,
“The Macusani area has shown strong potential for both uranium and lithium resources, as demonstrated by the recent results of operators in the nearby and surrounding area. We are pleased to partner with Rhyolite Lithium, which has strong financial backers with the equity needed to fund important work programs on the Macusani Project. We believe that by working with Rhyolite we will unlock value for Fission 3 shareholders.”
About Fission 3’s Macusani Project
Macusani, Peru, is an emerging uranium and lithium district in a mining-friendly jurisdiction. The area is host to multiple uranium deposits that are large scale, near-to-surface and potentially heap-leachable – giving them a strong economic case. The region also hosts several near-surface lithium occurrences associated with uranium mineralization in the Yapamayo Member formation as well as higher-grade lithium in the underlying Sapanuta Member formation.
Fission 3 holds titles to 9 concessions totaling 5,100 ha in the Macusani district. The property is surrounded by Plateau Energy Metals Inc.’s land package including the Falchani high-grade lithium discovery located less than 5km to the south. The Macusani concessions are easily accessed by a series of paved roads from the City of Puno to the town of Macusani, which connects to the Interoceanic Highway, a two-lane, paved highway that passes 14km north-east of the property.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
“Dev Randhawa”

Dev Randhawa, CEO
Fission 3.0 Corp.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operator of the Peruvian Assets, the characteristics, benefit, economics and mineralization of the Macusani region, the benefits of the earn-in agreement to Fission 3 shareholders and future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: Fission 3’s performance as operator of the Peruvian Assets, the Macusani region having different characteristics, economics or mineralization than currently expected, Rhyolite’s decision to fund expenditures on the Macusani Project pursuant to the Earn-In Agreement, market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither 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 Fission 3.0 Corp.

For further information: Investor Relations, TF: 778-484-8030, ir@fission3corp.com, www.fission3corp.com

Junior Mining

ANACONDA MINING Announces $5 Million Term Loan with Royal Bank of Canada

Post author By admin
Post date March 12, 2019

TORONTO , March 12, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (ANX.TO) (ANXGF) is pleased to announce that it has entered into a $5 million term loan (the “Facility”) from the Royal Bank of Canada (“RBC”). The Facility will provide the Company with enhanced financial flexibility and allow it to complete all pre-construction activity at its 100%-owned Goldboro Gold Project in Nova Scotia (“Goldboro”) without further equity financing. In 2019, Anaconda expects to finalize a feasibility study for Goldboro and complete all work required to obtain mining permits to be shovel-ready in early 2020. The Facility was arranged with the support of Export Development Canada (“EDC”), which has issued a performance guarantee over half of the principal amount.

“The financial commitment from RBC and EDC demonstrates their confidence in the Anaconda management team, the continued cash flow generation at the Point Rousse Project, and our overall ability to advance our growth plans in Atlantic Canada . The Facility now enables us to execute on our business plan in an accelerated, focused manner, with our debt service obligations easily funded from our mine operations. This Facility, combined with our continued free cash flow generation from the Point Rousse Project, will enable us to advance the Goldboro Gold Project to a construction-decision stage in early 2020, at an exceptionally low cost of capital and without any dilution to our shareholders.”

~ Dustin Angelo , President and CEO

Terms of the Facility

The Facility is repayable monthly over a 24-month term with certain prepayment options. It is subject to an existing general security agreement with RBC and a debt service coverage ratio covenant to be measured on an annual basis, based on a ratio of a measure of earnings to interest expense and scheduled principal payments. The Facility was arranged with the support of EDC, which has issued a performance guarantee over half the principal amount. The Facility carries a fixed interest rate of 4.6% and performance guarantee fee by EDC of 1.85%, payable quarterly based on the proportional amount outstanding. The full $5 million has now been drawn and the initial monthly payment is due 30 days from drawdown.

ABOUT ANACONDA

Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, deep water port, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates a strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .

ABOUT EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, EDC equips Canadian companies with the tools they need – the trade knowledge, financing solutions, investments, insurance, and connections – to take on the world with confidence. Underlying all of EDC’s support is a commitment to sustainable and responsible business.

FORWARD-LOOKING STATEMENTS

This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda’s annual information form for the year ended December 31, 2018 , available on www.sedar.com. Although Anaconda 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. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

SOURCE Anaconda Mining Inc.

View original content: http://www.newswire.ca/en/releases/archive/March2019/12/c4239.html

Junior Mining

Field Work Targeting High-Grade Gold at Yandicoogina, Pilbara, WA

Post author By admin
Post date March 12, 2019

VANCOUVER , March 12, 2019 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce the commencement of initial field work at Pacton’s Yandicoogina Project, where historical results from surface sampling have reported up to 199.7 g/t Au. The work program is targeting high-grade, shear-hosted gold within a number of mineralization settings and will use rock chip sampling and mapping to prioritize targets for drill testing.

Highlights:

Strike length: 4.7 km cumulative strike length of mapped anomalous quartz vein structures hosting gold mineralization.
Historical sampling results show strong gold mineralization in multiple locations:Rock chip sampling reported results of up to 199.7 g/t Au at surface (Western Australia Geological Survey).
Prioritizing targets for upcoming drill program: Results from the current program will be used to rank targets based on further exploration potential and to prioritize for drill testing planned for 2019.

Dale Ginn , Executive Chairman of Pacton Gold, stated, “Pacton’s Yandicoogina project hosts high-grade gold bearing systems that are readily apparent and exposed at surface. It also has coarse nuggets from surface prospecting that appear to be from a vein source and have not been subjected to significant transportation. What the project lacks is any significant amount of drilling to depth. Our initial program will therefore focus on prioritizing targets for drill testing the high-grade concentrations at Yandicoogina.”

Yandicoogina Project

The Yandicoogina Gold Project is located 52 km to the south east of Marble Bar in the Pilbara Region of Western Australia . The Project covers a contiguous land holding of 164 km² consisting of two granted exploration tenements (E45/3474 and E45/3571) and three granted mining leases located inside tenement (E45/3474).

Access to the project from Marble Bar is via the Marble Bar Road to the south east thence via station tracks which take you toward the Black Shepherd Mine.

The Project covers an extensive portion of the Warrawoona Archaean Greenstone Belt. Previous exploration activities have predominantly focused towards the greenstone portion of the project with a considerably limited effort placed on the Mt Edgar Mylonite Complex which is host to the high-grade Death Adder and Granite Prospects.

The initial work program will involve detailed geological mapping and rock chip sampling of priority defined prospects including Granite, Death Adder, Black Shepherd, Uncle Tom and Trilby. Through completing this first phase of activities a further understanding of the controls and extents of mineralisation for each of the prospects will be obtained. Prioritization, drill planning and permitting to drill will commence immediately following the completion of the initial work program.

About Pacton Gold

Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high grade conglomerate and orogenic gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario .

The technical content of this news release has been reviewed and approved by Dale Ginn , P.Geo., a director and Executive Chairman of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.

On Behalf of the Board of Pacton Gold Inc.

Dale Ginn
Executive Chairman

This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.

Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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.

Pacton Gold Inc. (CNW Group/Pacton Gold Inc.)

Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/field-work-targeting-high-grade-gold-at-yandicoogina-pilbara-wa-300810576.html

SOURCE Pacton Gold Inc.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2019/12/c6373.html

Base Metals Junior Mining

FISSION Hits Strong Mineralization Outside of Current High-Grade Domain Model and Advances Mine Planning

Post author By admin
Post date March 12, 2019

Winter holes highlight the potential to expand the Triple R deposit’s high-grade core and have also delivered valuable geotechnical data
TSX SYMBOL: FCU
OTCQX SYMBOL: FCUUF
FRANKFURT SYMBOL: 2FU
KELOWNA, BC , March 12, 2019 /CNW/ – FISSION URANIUM CORP. (“Fission” or “the Company“) is pleased to announce results from three holes of the Winter work program at its’ PLS property in Canada’s Athabasca Basin region. The three holes were drilled on the R780E zone with the dual-purpose of resource expansion and geotechnical testing of rock-mechanics for mine planning. All three intercepted high-grade mineralization that fit within, and expanded beyond the boundaries of the current modeled high-grade domain. Results include hole PLS19-PW-09, which intercepted a 37.5m continuous zone of strong uranium mineralization with a near-continuous 3.72 m interval of >10,000 cps and a peak of 61,115 cps. In addition, hole PLS19-PW-10 intercepted 47.5m total composite mineralization, including 3.98m of total composite >10,000 cps. With the completion of these holes, the program is now focusing on geotechnical drilling on the ring dyke and cut-off wall, as well as hydrogeology and pump testing.

Results Highlights

PLS19-PW-09 (line 735E) successfully targeted a large jog in the eastern high-grade core model where the high-grade core was interpreted to extend.
- 41.0m total composite mineralization over a 74m interval (between 130.0m – 204.0m), including;
  - 4.52m total composite >10,000 cps

PLS19-PW-010 (line 990E) successfully targeted the interpreted extension of the R780E high grade core, approximately 120m east of the current high-grade resource model.
- 47.5m total composite mineralization over a 207.5m interval (between 108.0m – 315.5m), including;
  - 3.98m total composite >10,000 cps

PLS19-PW-08 (line 615E) successfully targeted a low-grade gap between the middle and eastern R780E high-grade cores, with the aim to identify new high-grade mineralization outside of the current model.
- 71.5m total composite mineralization over a 123m interval (between 121.0m – 244.0m), including;
  - 2.0m of total composite >10,000 cps

Ross McElroy, President, COO, and Chief Geologist for Fission, commented,
“We are very pleased with the results and current progress of the winter program at PLS. These drill holes accomplished the goals set out with respect to intersecting mineralization within the modeled high-grade domain and overall look to have expanded beyond the modeled domain. These important results highlight the potential for growth as the R780E zone is further delineated.”
Table 1: R780E Zone


Hole ID	Zone	Collar			Hand-held Scintillometer Results On Mineralized Drillcore (>300 cps / >0.5M minimum)				Lake Depth (m)	Sandstone From – To (m)	Basement Unconformity Depth (m)	Total Drillhole Depth (m)
Hole ID	Zone	Grid Line	Az	Dip	From (m)	To (m)	Width (m)	CPS Peak Range
PLS19-PW-08	R780E	615E	329	– 70.9	121.0	146.5	25.5	<300 – 15600	7.4	NA	62.0	407.0
					151.5	157.0	5.5	<300 – 15500
					162.0	165.5	3.5	<300 – 8800
					178.0	179.5	1.5	<300 – 410
					195.5	198.5	3.0	<300 – 3600
					201.5	210.5	9.0	<300 – 15700
					213.0	227.5	14.5	<300 – 23600
					230.0	238.5	8.5	<300 – 1200
					243.5	244.0	0.5	300
PLS19-PW-09	R780E	735E	334	– 68.5	130.0	130.5	0.5	400	7.4	NA	61.9	335.9
					141.0	178.5	37.5	<300 – 61115
					198.5	199.0	0.5	1200
					201.5	204.0	2.5	500 – 18100
PLS19-PW-10	R780E	990E	330	-71.2	108.0	109.5	1.5	400 – 2800	7.9	NA	65.6	372.5
					129.5	131.0	1.5	320 – 530
					145.5	146.0	0.5	340
					149.0	149.5	0.5	480
					172.0	191.0	19.0	<300 – 58300
					200.5	201.0	0.5	360
					210.5	215.0	4.5	<300 -1000
					224.5	241.5	17.0	<300 – 7100
					291.5	292.0	0.5	490
					313.5	315.5	2.0	500 – 30400

Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a hand-held RS-121 Scintillometer manufactured by Radiation Solutions, which is capable of discriminating readings up to 65,535 cps. Natural gamma radiation in the drill hole survey that is reported in this news release was measured in counts per second (cps) using a Mount Sopris 2GHF-1000 Triple Gamma probe, which allows for more accurate measurements in high grade mineralized zones. The Triple Gamma probe is preferred in zones of high-grade mineralization. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured, and should be used only as a preliminary indication of the presence of radioactive materials. The degree of radioactivity within the mineralized intervals is highly variable and associated with visible pitchblende mineralization. All intersections are down-hole. All depths reported of core interval measurements including radioactivity and mineralization intervals widths are not always representative of true thickness. The orientation of the mineralized intervals tend to follow that of lithologic contacts, and generally dip steeply to the south. Within the Triple R deposit, individual zone wireframe models constructed from assay data and used in the resource estimate indicate that all 5 zones have a complex geometry controlled by and parallel to steeply south-dipping lithological boundaries as well as a preferential sub-horizontal orientation.
Samples from the drill core will be split in half sections on site and where possible, samples will be standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK for analysis which includes U₃O₈ (wt %) and fire assay for gold, while the other half remains on site for reference. All analysis includes a 63 element ICP-OES, uranium by fluorimetry and boron.
Further technical details
PLS19-PW-08 (line 615E)
PLS19-PW-08 targeted a low-grade gap between the middle and eastern R780E high-grade core models, and aimed to identify new high-grade mineralization outside of the current resource model. Moderate to strong radioactivity was intersected in the gap zone beginning at 121.0m down hole, returning a 25.5m wide main interval which included 0.7 m >10,000 counts per second (cps) on RS-121 handheld scintillometer. These results represent the strongest radioactivity on line 615E to date. Based on the current high-grade core model an interval of strong radioactivity was expected at approximately 140.0 m down hole which, as noted above, was instead intersected 19m higher up in the hole. A second zone of strong radioactivity was expected at approximately 152.0m which was successfully intersected and correlates well with the high-grade core model.
PLS19-PW-09 (line 735E)
PLS19-PW-09 targeted a large jog in the eastern high-grade core model where the high-grade core was interpreted to extend. A 37.5m wide zone of strong uranium mineralization was intersected, beginning at 141.0m down hole with a near continuous 3.72m interval of >10,000 cps occurring in the jog outside of the current high-grade core model. Based on the current high-grade core model the potential existed for a thin zone of strong radioactivity between 145m to 148m down hole. The hole actually intersected a 37.5m mineralized zone between 141m to 178.5m.
PLS19-PW-10 (line 990E)
PLS19-PW-10 targeted the interpreted extension of the R780E high-grade core approximately 120m east of the current high-grade resource. A 19m wide zone of strong uranium mineralization was intersected beginning at a depth of 172m with a total of 3.78 m >10,000 cps. No high-grade core model exists in the vicinity of PLS19-PW-10 but two vertical drill holes PLS14-180 (5.5m averaging 18.56% U3O8) and PLS14-158 (5.0m averaging 8.57% U3O8) are located approximately 4m and 8m to the east, respectively. The location of the strong radioactivity in PLS19-PW-10 correlates well with strong radioactivity in drill holes PLS14-180 and 158 and suggests potential exists to define additional high-grade domains east of the currently defined high-grade core.
PLS Mineralized Trend & Triple R Deposit Summary
Uranium mineralization of the Triple R deposit at PLS occurs within the Patterson Lake Conductive Corridor and has been traced by core drilling over ~3.18km of east-west strike length in five separated mineralized “zones” which collectively make up the Triple R deposit. From west to east, these zones are: R1515W, R840W, R00E, R780E and R1620E. Through successful exploration programs completed to date, Triple R has evolved into a large, near surface, basement hosted, structurally controlled high-grade uranium deposit. The discovery hole was announced on November 05, 2012 with drill hole PLS12-022, from what is now referred to as the R00E zone.
The R1515W, R840W and R00E zones make up the western region of the Triple R deposit and are located on land, where overburden thickness is generally between 55m to 100m. R1515W is the western-most of the zones and is drill defined to ~90m in strike-length, ~68m across strike and ~220m vertical and where mineralization remains open in several directions. R840W is located ~515m to the east along strike of R1515W and has a drill defined strike length of ~430m. R00E is located ~485m to the east along strike of R840W and is drill defined to ~115m in strike length. The R780E zone and R1620E zones make up the eastern region of the Triple R deposit. Both zones are located beneath Patterson Lake where water depth is generally less than six metres and overburden thickness is generally about 50m. R780E is located ~225m to the east of R00E and has a drill defined strike length of ~945m. R1620E is located ~210m along strike to the east of R780E, and is drill defined to ~185m in strike length.
Mineralization along the Patterson Lake Corridor trend remains prospective along strike in both the western and eastern directions. Basement rocks within the mineralized trend are identified primarily as mafic volcanic rocks with varying degrees of alteration. Mineralization is both located within and associated with mafic volcanic intrusives with varying degrees of silicification, metasomatic mineral assemblages and hydrothermal graphite. The graphitic sequences are associated with the PL-3B basement Electro-Magnetic (EM) conductor.
Patterson Lake South Property
The 31,039 hectare PLS project is 100% owned and operated by Fission Uranium Corp. PLS is accessible by road with primary access from all-weather Highway 955, which runs north to the former Cluff Lake mine and passes through the nearby UEX-Areva Shea Creek discoveries located 50km to the north, currently under active exploration and development.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol., President and COO for Fission Uranium Corp., a qualified person.
About Fission Uranium Corp.
Fission Uranium Corp. is a Canadian based resource company specializing in the strategic exploration and development of the Patterson Lake South uranium property – host to the class-leading Triple R uranium deposit – and is headquartered in Kelowna, British Columbia. Fission’s common shares are listed on the TSX Exchange under the symbol “FCU” and trade on the OTCQX marketplace in the U.S. under the symbol “FCUUF.”
ON BEHALF OF THE BOARD
“Ross McElroy”

Ross McElroy, President and COO
Cautionary Statement:
Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission and Fission Uranium which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and the Company and Fission Uranium disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.

SOURCE Fission Uranium Corp.

For further information: Investor Relations, TF: 877-868-8140, ir@fissionuranium.com, www.fissionuranium.com

Junior Mining Precious Metals

Book Review: Basic Investing in Resource Stocks-The Idiot’s Guide, by Robert Moriarty

Post author By admin
Post date March 11, 2019

By Jayant Bhandari / March 09, 2019 / Article Link

In the recent years investors have lost a lot of money in the resource sector. This shouldn’t have been the case had investors paid attention to the work of Bob Moriarty. Exactly when the sector was losing money, Mr. Moriarty was investing in resource stocks—of the likes of Novo Resources and Irving Resources—that made him 10 to 20 times his investment. In some cases, more.
As Warren Buffet says, “People make investing… more difficult than it should be.”
In his book, “Basic Investing in Resource Stocks—the Idiot’s Guide,” Mr. Moriarty provides a common-sense approach to investing in the resource sector.
“You will make mistakes when investing, but make sure you make new ones.”
Those who have focused their investment life in the resource sector, as I have, tend to think that it is full of idiots and liars, or those living a lifestyle using shareholder money. Mr. Moriarty thinks that other sectors are worse.
Referring to the cryptocurrency mania—which he calls “Bitcon”—about which he started writing on 321gold when it was peaking, he says that total value of Bitcon has fallen from $800 billion to $136 billion. I thought that there was a typo. Had he written “billions” instead of “millions?” But his wasn’t an error. A massive amount of money has changed hands, from gullible people to conmen or street-smart traders.
But the biggest con of all is the fiat currency system that surreptitiously steals people’s money and puts the future generation into bondage. This cannot continue. A “great reset” awaits, for there are far too many systemic risks today.
A product of the fiat currency is the derivative business, a boondoggle that poses significant systemic risks.
All debts must be paid, and the world is awash with it. There are far too many black swans for one not to come into the scene. “The Gilets Jaunes movement of France is merely the opening scene,” says Mr Moriarty. That is where protecting oneself from what is another person’s liability is important, making gold (or silver or platinum or palladium or rhodium) one of the ways to preserve one’s wealth.
In the investment space, a lot of wealth is getting destroyed, misallocated or moving into the hands of conmen, private or public, leaving gullible investors high and dry. What one must learn early on is the concept of probabilities before one starts throwing one’s dice.
One, however, cannot depend on the advice of “experts,” which reminds me of “Nobody Knows Anything,” another book by Mr. Moriarty.
Mr. Moriarty advises people to have the courage—once they have studied their homework properly—to have contrarian thinking, even if it goes completely against the emotions of the market.
There is legitimate information in the market and there is noise. Internet should have made it easier for information to flow freely. Alas, it is noise that has grown bigger than the real signal.
“Change your mind when information changes” makes common-sense, except that most people are resistant to changing their views. The end result is that 90% of investors lose money. While Mr. Moriarty advises not to be a part of that 90%, he is happy they exist, to help him make the extra money.
Read the above words of wisdom in his short and sweet book, including the description of the resource industry, and some saucy stories of his investments.
Jayant Bhandari

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