Category: Junior Mining

Silver Bullet Announces High Grade Silver Results from the Treasure Room, and a Financing

Post author By admin
Post date October 25, 2023

Burlington, Ontario–(Newsfile Corp. – October 25, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces:

two sets of high grade assay results from the Treasure Room
initial assay results from the targeted mineralized zone at the Buckeye Mine in Arizona (Zone1),
a financing, and
the re-pricing of warrants.

The Treasure Room is located roughly 310 feet from the portal, or roughly halfway to Zone1 along the vein structure. On March 1, 2022 SBMI reported assay results from grab samples from the Treasure Room as follows:

		GRAB SAMPLES

SAMPLE I.D			Silver	Silver
			[oz/ton]	[ppm]
	1		14.0	480.2
	2		15.2	521.4
	3		12.2	418.5
	4		13.6	466.5
	5		13.8	473.3
	6		35.2	1207.4
	7		125.0	4287.5
	8		20.2	692.9
	9		21.2	727.2

Additional selected grab samples were recently taken from the Treasure Room area, whose assay results were 8.6, 90.3, 90.6, and 229.7 ounces per ton silver. Paper thin plates of native silver, analyzed with a hand held XRF, were also observed along certain fractures.

Historically mining was carried out in the Treasure Room, resulting in stopes and drifts. A third set of selected grab samples from various stopes in the Treasure Room were assayed on October 23, 2023 and returned as follows:

from stope 25 – 74.0 Ozs./Ton silver
from stope 32 – 11.6 Ozs./Ton silver
from stope 33 – 212.2 Ozs./Ton silver
from stope 34 – 101.8 Ozs./Ton silver

Readers are cautioned that such samples may not be representative of the Treasure Room or the Buckeye Mine as a whole.

SBMI intends to stabilize the Treasure Room and provide other safety measures to allow access to the higher grade material located within the Treasure Room’s continuation of the vein. This will provide an additional supply of mineralized material for the mill and will also assist in refining a plan to mine that section of vein material. The Company believes the Treasure Room likely hosts more higher grade material at depth.

Zone1 begins roughly 700 feet from the portal. Twelve samples were assayed from the body of Zone1, with assay results from these preliminary samples averaging 2 oz per ton silver. Earlier assay results from the contact right edge with Zone1 over an initial width of 4 feet averaged 1 oz silver/t. Both of these averages are in line with management’s expectations. From past observations and past assays, the Company anticipates the silver grade to increase with further penetration into Zone1. Mineralized material will be shipped from Zone1 to the Company’s mill in Globe, Arizona when the grade is high enough to justify the cost of transportation.

Historically gold and copper values were also reported in Zone1. Current visual inspection of the vein material shows materials other than silver, for which SBMI cannot assay at its own onsite assay facility. SBMI has sent multiple samples of such material to an independent ISO 9001 certified lab for multielement analysis including gold and PGM.

The Company suffered through aberrant extremely hot weather in Arizona throughout most of August, 2023. For example, the temperature on the concrete ball mill pad during this period on occasion exceeded 150 degrees Fahrenheit. A wildfire proximate to the Buckeye Mine during that period caused by lightning further impeded SBMI’s efforts. The Company was unable to carry out work at the mill or at the Buckeye Mine during that period, and as a result was not able to generate cash flow. The Company now intends to bolster its financial position as it continues with operations.

SBMI intends to carry out a non-brokered financing (the “Financing”) of $500,000.00 by way of a private placement of units (each, a “Unit”) priced at $0.12 cents per Unit, resulting in the issuance of 4,166,666 shares. Each Unit will consist of one common share and a full warrant exercisable into one common share at $0.17 for a term of 2 years. There is no acceleration clause on these $0.17 warrants.

The Company also announces its intention to re-price previously issued warrants. SBMI intends to re-price all previously issued $0.60 warrants to $0.24, all previously issued $.50 warrants to $0.20, and all previously issued $0.30 warrants to $0.13. Regulatory approval is required for the Financing and to re-price warrants.

The Financing and the re-pricing of warrants are subject to regulatory approval.

QA/QC

All samples above were analyzed by SBMI at its facility near Globe, Arizona. They were processed through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

The SBMI facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals Uncategorized

Metallic Minerals Completes 2023 Expansion Drill Program at Keno Silver Project in Yukon, Canada

Post author By admin
Post date October 24, 2023

VANCOUVER, BC / ACCESSWIRE / October 19, 2023 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce the completion of field activities at the Company’s 100%-owned, 166 square kilometer Keno Silver project, adjacent to Hecla Mining in the high-grade Keno Hill silver district of Canada’s Yukon Territory. The 2023 exploration program included 1,112 meters in four diamond drill holes focused on resource expansion at the Formo target, the highest-grade and largest target area to be included in an inaugural NI 43-101 mineral resource estimate for the property expected in Q4 2023. The Company also conducted additional soil geochemical sampling on open-ended earlier-stage targets for future drill campaigns.

Metallic Minerals holds the second largest land position in the Keno district with claims covering the east, and parts of central and western Keno Hill, including eight high-grade, shallow past-producing deposits. Hecla Mining holds the western portion of the Keno district and has recently started production from its Keno Hill mining operations, with full production expected by year-end.

Metallic Minerals President, Scott Petsel, stated: “We were very pleased to return to our Keno Silver project and complete this important new phase of exploration which focused on drilling mineralized extensions of our “resource-ready” target at Formo. With the key milestone of an inaugural resource estimate for Keno Silver on the near-term horizon, the team is already looking ahead to working from those initial deposit models to continue to add additional ounces with this and subsequent future programs. One of the major advantages the upcoming resources will have are their shallow depth which makes them amenable to low-cost bulk tonnage mining methods. The blueprint for rapid and dramatic resource growth in the Keno district, as demonstrated by prior operators, is to first identify the dominant mineralized vein structures and their orientations, then vector along trend and depth with successive drill campaigns. This tried-and-true methodology is being employed by Metallic Minerals to expand the Keno Silver project which is located within one of the world’s highest grade silver producing districts.”

Mr. Petsel continued, “In addition to our work at the Keno Silver project, drilling continues at our La Plata copper-silver-gold-PGE project in Colorado, where we have just passed 3,000 meters of a targeted 5,000-meter drill program. The first two drill holes reached 909 meters and 1,350 meters depth, respectively, and intersected continuous porphyry style mineralization. Our target is to complete two to three more step-out, expansion drill holes from the discovery hole announced in February 2023. Core is being processed and sent to the lab for assaying with initial results expected to come in through the fall of this year. The results of this drilling will be used to calculate a new mineral resource estimate for La Plata in 2024.”

About the Keno Silver Project

Keno Hill is one of the world’s highest-grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past production and current M&I resources^1,2 and featuring excellent existing infrastructure, including grid power, road access and nearby community services. In July 2022, Hecla Mining announced the acquisition of Alexco Resource Corp, which held the western portion of the district. Hecla Mining has started production at Keno Hill, which is now their highest-grade silver operation, and is expecting to be at full production by year end with a stated goal of producing 4-5 Moz of silver per year³. Metallic Minerals’ Keno Silver project is adjacent and contiguous with Hecla Mining ground, covering the east, and parts of the central and western Keno silver district and includes eight high-grade, shallow past-producing mines. Prior to the Company’s consolidation of the land package, very little modern exploration had been completed in these parts of the district due to fragmented, private land ownership. Metallic Minerals has advanced four targets in the district from discovery to resource definition stage with several additional targets at drill-ready status along the known historically productive trends. In addition, recent exploration has defined and expanded 12 priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company focused on copper, silver, gold, and other critical minerals in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.

The Company’s 100%-owned La Plata project in southwestern Colorado hosts a porphyry copper-silver resource consisting of 1.21 billion pounds of copper and 17.6 Moz of silver⁴. Drilling in 2022 provided the basis for the expanded 2023 resource estimate, including the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited (acquired by Newmont Mining in Q4 2023) to fund the current 2023 drill campaign and accelerate the overall advancement of the project. Colorado ranked 5th globally for investment attractiveness and 2nd in the USA in the Fraser Institute’s 2023 Annual Survey of Mining Companies.

Metallic Minerals has consolidated a 176 square kilometer land position directly adjacent to Hecla Mining’s operations in the historic high-grade Keno Hill silver district of Canada’s Yukon Territory, a region which has more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla Mining, the largest primary silver producer in the USA and third largest in the world, is anticipating full production at its Keno Hill operations by the end of 2023. Metallic Minerals is targeting release of an inaugural mineral resource estimate on the Keno Silver project in Q4 2023, with an expansion drill program completed in September.

The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators, including Parker Schnabel of Little Flake Mining from the Discovery Channel television show, Gold Rush.

All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. The Company is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.com
Email: cackerman@mmgsilver.com
Phone: 604-629-7800
Toll Free: 1-888-570-4420
Footnotes:

Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850.
Alexco Resource Corp Technical Report, titled “NI 43-101 Technical Report on Updated Mineral Resource and Reserve Estimate of the Keno Hill Silver District” with an effective date of April 1, 2021 and issue date of May 26, 2021.
See news release dated August 8, 2023: Hecla Mining Company – Hecla Reports Second Quarter 2023 Results
See news release dated July 31, 2023: https://mmgsilver.com/news/2023/metallic-minerals-expands-resource-at-la-plata-copper-silver-gold-pge-project-in-southwestern-colorado-usa/

Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.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.

SOURCE: Metallic Minerals Corp.

Base Metals Energy Junior Mining Project Generators

Riverside Acquires the Revel Carbonatite Rare Earth Element Project near Revelstoke British Columbia

Post author By admin
Post date October 24, 2023

Vancouver, British Columbia–(Newsfile Corp. – October 24, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), Riverside is pleased to announce that it has acquired part of the Mount Grace Carbonatite known to host Rare Earth Elements (“REEs”). The Company continues to expand its presence in British Columbia adding this a prospective REE project to its critical metals’ portfolio. The Company has staked 2538 ha. (25 km²) of terrain that hosts carbonatites mapped by the British Columbia Geologic Survey and confirmed by subsequent explorers. The Project has been named “Revel” and is located 20 km from the community of Seymour Arm within a highly prospective carbonatite belt north of Revelstoke, BC. The Project is 100% owned by Riverside with no underlying royalties or encumbrances.

Rare Earth Elements, or REEs, have become important metals worldwide as countries race to usher in a green economy, with less reliance on fossil fuels and more reliance on electrical grids and EV’s. Most countries have begun protecting these elements and listing them as strategic or critical, acknowledging the importance of these metals to future economic growth and even sovereignty. Canada and particularly BC have geological environments that host several different types of rare earth element deposits. REE carbonatites are discrete layers of either of material being depositing on the surface during volcanic activity or intrusive layers of magma injected between layers of existing rock. At Revel the property has high values of niobium and light rare earth elements similar to those found and mined in the USA at Mountain Pass. Revel geology with carbonatite has both intrusive and volcanic styles of REE with the Company’s mapping and on-going sampling shown below and on the website site.

John-Mark Staude, President and CEO, commented on the recent acquisition: “we are excited to have acquired Revel, a quality REE project with no underlying royalties or encumbrances in a geologically prospective area within a stable political jurisdiction. The new Project compliments Riverside’s growing portfolio in British Columbia and positions the company well in this rapidly evolving space. Recent announcements by the Canadian government signal that Canada is serious about securing a steady and stable supply of critical elements within its borders and the Revel acquisition is part of the Company’s diversification expanding corporate strategy.”

Revel Project Geological Summary:

The claims are partly located on Mount Grace on the northeast margin of Frenchman Cap Gneiss Dome comprising part of the Shuswap Metamorphic Terrain. These core gneisses are overlain by allochthonous cover rocks which host both extrusive and intrusive carbonatites and are part of the Monashee cover sequence. The property is centred on the Mount Grace syncline which is a northwest trending isoclinal fold. The allochthonous rocks comprise a succession of pure quartzites, feldspathic quartzites and mica schists above this basal unit lies a series of pelitic schist, marble, calc-silicate paragneiss and the Mount Grace Carbonatite layer. This provides both intrusive and volcanic units that are targeted for REE concentrations and discovery potential making possible broad and easily traceable host units which could rapidly develop substantial tonnages.

The map and cross section below modified from the work of the BC Geological Survey, Hoy and others, for the carbonatite and Rare Earth Element target geologic units is shown below and more extensively on the Company website. The regional map shows the Revel claim areas in the regional context with other known REE locations as part of a north-south trending belt which where the Company has been working.

Figure 1. Regional location map of the Mount Grace Carbonatite and other REE locations superimposed on geologic quadrangle map from Hoy and Kwong (1986).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/185049_8cb54255a4c27972_002full.jpg

Figure 2. Map with the Revel mineral claims on the Mount Grace Carbonatite from Hoy and Kwong (1986) with location of target Carbonatite horizon shown in blue and Riverside claim areas marked in red.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/185049_8cb54255a4c27972_003full.jpg

Revel Project History

Mount Grace and surrounding area was first mapped by government geologists where two types of carbonatites were identified. Type I intrusive carbonatites were noted to have a metasomatized contacts being conformable to the bedding within their metasedimentary host rocks, and commonly contacting either a syenite or nepheline syenite gneiss. Conversely Type II extrusive carbonatites, believed to be of volcanic origin and lacking any kind of metasomatic boundary, were linked with the occurrence of a prominent marble horizon that was stratigraphically above the carbonatite bodies and used as a regional marker (McMillan and Moore, 1974). Later mapping of the Mount Grace area by Hoy and McMillan (1979) revealed that the discontinuous extrusive carbonatites of the Perry River area were likely related to the extrusive Mount Grace Carbonatite, which has a lateral extent of over 60 km. A study by Hoy and Kwong (1986) revealed that the Mount Grace carbonatite is strongly enriched in the elements barium, manganese, and strontium, with high concentrations of niobium, lanthanum, neodymium and cerium relative to other carbonatites of its nature.

Figure 3. Cross sections for the Mount Grace Carbonatite from Hoy and Kwong (1986) with location of target Carbonatite horizon shown in blue and Riverside claim areas marked in black arrows. Refer to the legend in Figure 2 above for rock descriptions.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/185049_8cb54255a4c27972_004full.jpg

In 1983, Duval International Corporation conducted a geological and geochemical survey in the area that led to the discovery of the Ren carbonatite, south of Mount Grace; samples of the Ren carbonatite rendered anomalous values of niobium, cerium and lanthanum (Pilcher, 1983). Teck Exploration Ltd. carried out further work on carbonatites at Ratchford Creek in 1987, which included trenching and silt, rock, and soil sampling programs as well as radiometric and magnetic surveys (Betmanis and Lovang, 1988). Results from Teck’s program indicated anomalous values of niobium and light rare earth elements. At the present, these carbonatite exposures and associated alkaline rocks are contiguously staked by the Company along the western margin of the Frenchman Cap gneiss dome providing a guide for delineating the system so far.

In the early 2010’s field work in the project area found more well-defined carbonatite and in 2018 exploration work located zones of layered and also intrusive carbonatite which during the 2023 field season Riverside was able to work up and sample.

Qualified Person:

This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $7M 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.

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

Mehran Bagherzadeh
Corporate Communications
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/185049

Base Metals Energy Junior Mining Precious Metals

Grizzly Engages Matthews Investments Ltd

Post author By admin
Post date October 23, 2023

Edmonton, Alberta–(Newsfile Corp. – October 23, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that it has engaged Matthews Investments Ltd. to provide capital market consulting services to the Company.

The Company has entered into an agreement (the “Agreement”) with Matthews Investments Ltd. (“Matthews”) whereby Matthews will provide capital market consulting services to the Company for consideration including the issuance of 250,000 stock options under the Company’s Stock Option Plan with a strike price of $0.09 per option and expiring no later than five years from the date of issuance. In addition, Matthews will be compensated for a) any completed merger or acquisition transaction with a party introduced by Matthews within 2 years from the commencement of the Agreement and b) for any successful financing transaction with parties introduced to the Company by Matthews, at a rate of 5% of the total transaction value. The stock options to be granted to Matthews and transaction referral fees are subject to approval or acceptance by the TSX Venture Exchange.

Matthews Investments Ltd. is a consulting firm with a history of advising private and public companies through their growth initiatives. With a focus on extractable commodities and energy, Matthews engages its’ vast network of industry professionals to help companies establish an effective blueprint for corporate success.

Rich Matthews, principal of Matthews Investments Ltd., is a highly experienced capital markets advisor with a strong background in the resource sector, serving at the executive and board levels. His experience includes business development and capital markets expertise across multiple countries. Rich has worked for public companies, including award-winning Fission Uranium Corp, advising CEO’s and Board of Director members, while liaising directly with investors and stakeholders. Mr. Matthews is currently Director of Matthews Investments Ltd, Vancouver, BC, and Managing Partner at Integrous Communications LLC, Austin, Texas.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,000 ha (approximately 178,500 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

Caution concerning forward-looking information

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184814

Junior Mining Lion One Metals Precious Metals

Lion One Reports High-Grade Gold Results from Zone 2 at Tuvatu

Post author By admin
Post date October 19, 2023

North Vancouver, British Columbia–(Newsfile Corp. – October 19, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Assay results are presented here for infill and grade control drilling completed in the Zone 2 area of Tuvatu, focusing primarily on the Murau lode system. Mining of the Murau lode system has commenced and grade control drilling is being conducted in advance of further mining in this area. Infill drilling is being conducted to target the up-dip and down-dip extensions of the Murau lodes. The results reported here represent material that is scheduled to be mined in Q4 2023 and throughout 2024.

Lion One Chairman and CEO Walter Berukoff commented: “After celebrating our first gold pour at Tuvatu on October 10^th, we now turn our focus back to grade control and infill drilling. These drill programs continue to yield positive results and to strengthen our understanding of the mineralization at Tuvatu. We are pleased to present yet another batch of high-grade results from the Zone 2 area of Tuvatu, an area which will serve to feed our brand-new mill in the mid-to-near term future.”

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

84.96 g/t Au over 1.2 m (TGC-0092, from 4.5 m depth)
20.69 g/t Au over 4.2 m (including 40.22 g/t Au over 0.9 m) (TUDDH-677, from 76.5 m depth)
13.60 g/t Au over 5.1 m (including 98.87 g/t Au over 0.3 m) TUDDH-663, from 89.1 m depth)
13.22 g/t Au over 5.1 m (including 50.54 g/t Au over 0.3 m) (TGC-0085, from 56.5 m depth)
15.64 g/t Au over 3.9 m (including 23.48 g/t Au over 1.2 m) (TUDDH-680, from 140.9 m depth)
38.26 g/t Au over 1.5 m (including 41.99 g/t Au over 0.6 m) (TUDDH-663, from 177.3 m depth)
34.77 g/t Au over 0.9 m (including 35.67 g/t Au over 0.3 m) (TUDDH-680, from 146.6 m depth)
31.25 g/t Au over 1.2 m (TUDDH-680, from 148.7 m depth)
15.12 g/t Au over 2.1 m (including 22.42 g/t Au over 1.2 m) (TUDDH-678, from 135.3 m depth)
13.61 g/t Au over 2.1 m (including 42.48 g/t Au over 0.6 m) (TUDDH-666, from 184.6 m depth)
11.19 g/t Au over 2.4 m (including 30.75 g/t Au over 0.6 m) (TGC-0090, from 45.3 m depth)
9.26 g/t Au over 2.7 m (including 13.11 g/t Au over 0.9 m) (TGC-0089, from 48.8 m depth)
82.33 g/t Au over 0.3 m (TGC-0092, from 28.2 m depth)

Figure 1. Location of Zone 2 Grade Control and Infill Drillholes. Plan view of Tuvatu showing the Zone 2 grade control and infill drillholes included in this news release in relation to the mineralized lodes at Tuvatu. Drillholes are shown in black, mineralized lodes in grey, and underground developments in red.

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Table 1. Highlights of composited grade control and infill drill results in the Zone 2 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 2 in the appendix.

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0092		4.5	5.7	1.2	84.96
TUDDH-677		76.5	80.7	4.2	20.69
	including	78.3	80.7	2.4	32.81
	which includes	78.3	79.2	0.9	40.22
	and	79.2	79.8	0.6	13.08
	and	79.8	80.7	0.9	38.56
TUDDH-663		89.1	94.2	5.1	13.6
	including	89.1	90.6	1.5	35.51
	which includes	89.1	89.4	0.3	13.99
	and	89.4	89.7	0.3	40.56
	and	89.7	90	0.3	12.09
	and	90	90.3	0.3	12.03
	and	90.3	90.6	0.3	98.87
	and also including	93.6	94.2	0.6	15.25
TGC-0085		56.5	61.6	5.1	13.22
	including	57.1	57.7	0.6	35.68
	and	58.6	59.5	0.9	20.89
	and	60.1	60.4	0.3	50.54
TUDDH-680		140.9	144.8	3.9	15.64
	including	140.9	142.1	1.2	21.38
	and	143.6	144.8	1.2	23.48
TUDDH-663		177.3	178.8	1.5	38.26
	including	177.3	178.2	0.9	35.78
	and	178.2	178.8	0.6	41.99
TUDDH-680		146.6	147.5	0.9	34.77
	including	146.6	147.2	0.6	34.33
	and	147.2	147.5	0.3	35.67
TUDDH-680		148.7	149.9	1.2	31.25
TUDDH-678		135.3	137.4	2.1	15.12
	including	136.2	137.4	1.2	24.63
TUDDH-666		184.6	186.7	2.1	13.61
	including	186.1	186.7	0.6	42.48
TGC-0090		45.3	47.7	2.4	11.19
	including	47.1	47.7	0.6	30.75
	which includes	47.1	47.4	0.3	25.52
	and	47.4	47.7	0.3	35.89
TGC-0089		48.8	51.5	2.7	9.26
	including	48.8	49.7	0.9	13.11
	and	50.6	51.5	0.9	10.21
TGC-0092		28.2	28.5	0.3	82.33
TUDDH-663		169.2	171.6	2.4	7.96
	including	170.1	171.3	1.2	11.92
	which includes	170.7	171.3	0.6	15.55
TGC-0095		60.3	60.6	0.3	62.38

Murau Lodes

The Murau lodes are located within the Zone 2 area of Tuvatu, along the upper portion of the western decline in the northwest part of the deposit. The Zone 2 area encompasses a number of distinct lode systems, including the URW1, URA1, and Murau lode systems. The Zone 2 area was the first to commence mining at Tuvatu and mining is ongoing in all three of these lode systems.

The current round of infill and grade control drilling in the Zone 2 area is focused on the Murau lode system, which is modelled as a series of stacked relatively flat lying lodes that strike approximately east-west and dip moderately to the south. The portion of the Murau lode system that is currently targeted for mining consists of a vertical extent of 55 m, an east-west strike length of 110 m, and a down-dip extension of 100 m.

Figure 2. Murau Lode System. Oblique section of the Murau lode system in relation to the infill and grade control drillholes reported here. View is to the ESE and slightly down dip along the Murau lodes. The stacked nature of the Murau lodes is visible in the image. Grade control drilling is focused on near-term mining whereas infill drilling is focused on the up-dip and down-dip extensions of the lodes.

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A total of 10 infill and 11 grade control drillholes are included in this release. The infill drill program was conducted from surface and was designed to target the up-dip and down-dip extension of the Murau lodes on approximately 20 m centers. The goal of the program is to provide an increased understanding of the system’s mineralization and geometry in these areas. The grade control drill program was conducted from underground on 5-10 m centers and was designed to provide much higher resolution of the Murau lode system in advance of mine development and extraction. The location of high-grade intercepts is shown in Figure 3 while examples of Murau lode mineralization are shown in Figure 4. The Zone 2 infill and grade control drill programs are ongoing. Previous drill results from the Zone 2 area can be seen in the news releases dated September 14, 2023, June 14, 2023, and April 25, 2023.

Figure 3. Location of High-Grade Intercepts from Zone 2 Infill and Grade Control Drilling, 3.0 g/t Au cutoff. Oblique section view of the Murau lode system highlighting the high-grade intercepts from the Zone 2 infill and grade control drill program in the Murau system. View is to the ESE and slightly down dip along the Murau lodes. Downhole composite intervals with grades between 3 and 10 g/t Au are shown in orange, intervals with grades between 10 and 30 g/t Au are shown in red, and intervals over 30 g/t Au are shown in purple. Select high-grade intervals are identified. Grades shown are gold grades in g/t.

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Figure 4. Example Mineralization from Zone 2 Infill and Grade Control Drilling. Top left: Monzonite-hosted quartz vein with coarse grained pyrite and honey-sphalerite (TUDDH-678, 136.3 m). Top right: Vuggy chalcedony-pyrite veinlet with well-developed alteration selvage (TUDDH-667, 156.3 m). Bottom left: Vuggy quartz vein with coarse-grained pyrite and honey sphalerite within a 5.1 m zone of 13.22 g/t Au (TGC-0085, 60.2 m). Bottom right: Monzonite-hosted quartz-pyrite-sphalerite vein (TUDDH-661, 131.7 m). Core diameter is 4.76 cm in each photo.

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About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedarplus.ca.

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by 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).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“, Chairman and CEO

Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for 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 labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Appendix 1: Full Drill Results and Collar Information

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

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0085		45.7	46.6	0.9	3.3
TGC-0085		47.5	48.7	1.2	4.69
TGC-0085		50.5	51.7	1.2	4.7
TGC-0085		54.4	54.7	0.3	15.23
TGC-0085		56.5	61.6	5.1	13.22
	including	57.1	57.7	0.6	35.68
	and	58.6	59.5	0.9	20.89
	and	60.1	60.4	0.3	50.54
TGC-0087		23.4	24	0.6	10.82
	including	23.7	24	0.3	14.44
TGC-0087		39.6	40.8	1.2	3.12
TGC-0087		49.8	50.1	0.3	3.72
TGC-0089		38.7	39.6	0.9	3.49
TGC-0089		41.6	41.9	0.3	12.45
TGC-0089		44.6	45.5	0.9	6.26
TGC-0089		48.8	51.5	2.7	9.26
	including	48.8	49.7	0.9	13.11
	and	50.6	51.5	0.9	10.21
TGC-0090		0	0.9	0.9	3.86
TGC-0090		34.8	35.4	0.6	6.74
TGC-0090		45.3	47.7	2.4	11.19
	including	47.1	47.7	0.6	30.75
	which includes	47.1	47.4	0.3	25.52
	and	47.4	47.7	0.3	35.89
TGC-0091		27	27.3	0.3	7.94
TGC-0091		33.6	34.2	0.6	5.59
TGC-0091		44.1	44.4	0.3	14.89
TGC-0092		4.5	5.7	1.2	84.96
TGC-0092		28.2	28.5	0.3	82.33
TGC-0092		39	39.6	0.6	11.7
	including	39.3	39.6	0.3	15.64
TGC-0092		42.6	43.5	0.9	5.18
TGC-0094		12.2	13.1	0.9	5.11
TGC-0094		49.1	50.3	1.2	15.29
TGC-0095		39	40.2	1.2	13.7
	including	39.3	39.6	0.3	20.22
	and	39.9	40.2	0.3	30.52
TGC-0095		42.6	43.5	0.9	15.49
TGC-0095		54.9	55.2	0.3	6.72
TGC-0095		60.3	60.6	0.3	62.38
TGC-0100		8.4	9.3	0.9	3.64
TGC-0100		48.6	48.9	0.3	35.93
TGC-0100		60.9	61.2	0.3	9.85
TGC-0100		68.4	68.7	0.3	15.02
TGC-0100		72.9	73.5	0.6	5.3
TUDDH-661		118.9	120.1	1.2	3.03
TUDDH-661		131.5	132.1	0.6	7.09
	including	131.5	131.8	0.3	10.38
TUDDH-663		50.7	51.3	0.6	4.01
TUDDH-663		89.1	94.2	5.1	13.6
	including	89.1	90.6	1.5	35.51
	which includes	89.1	89.4	0.3	13.99
	and	89.4	89.7	0.3	40.56
	and	89.7	90	0.3	12.09
	and	90	90.3	0.3	12.03
	and	90.3	90.6	0.3	98.87
	and also including	93.6	94.2	0.6	15.25
TUDDH-663		101.1	102	0.9	10.98
TUDDH-663		154.5	154.8	0.3	16.89
TUDDH-663		159.9	160.2	0.3	3.43
TUDDH-663		162	162.3	0.3	8.37
TUDDH-663		164.7	165	0.3	15.64
TUDDH-663		169.2	171.6	2.4	7.96
	including	170.1	171.3	1.2	11.92
	which includes	170.7	171.3	0.6	15.55
TUDDH-663		173.1	175.5	2.4	3.87
TUDDH-663		177.3	178.8	1.5	38.26
	including	177.3	178.2	0.9	35.78
	and	178.2	178.8	0.6	41.99
TUDDH-664		73.7	74.3	0.6	3.07
TUDDH-664		76.7	77.3	0.6	20.79
TUDDH-664		121.8	122.7	0.9	18.99
TUDDH-664		124.5	126	1.5	8.17
	including	125.4	126	0.6	11.44
TUDDH-666		101.8	102.1	0.3	3.55
TUDDH-666		167.5	170.2	2.7	6.65
	including	169.3	170.2	0.9	13.33
	which includes	169.3	169.6	0.3	27.99
TUDDH-666		184.6	186.7	2.1	13.61
	including	186.1	186.7	0.6	42.48
TUDDH-666		193.3	193.9	0.6	4.73
TUDDH-667		153.1	154.9	1.8	9.99
	including	153.7	154.9	1.2	11.87
	which includes	153.7	154	0.3	29.47
TUDDH-667		156.1	156.4	0.3	15.89
TUDDH-670		69.4	70	0.6	25.68
TUDDH-670		74.5	75.4	0.9	4.37
TUDDH-673		87.2	87.8	0.6	20.26
TUDDH-673		150.8	151.7	0.9	15.73
TUDDH-673		157.7	158.6	0.9	3.4
TUDDH-673		162.2	162.8	0.6	12.27
TUDDH-677		69.6	70.5	0.9	4.41
TUDDH-677		76.5	80.7	4.2	20.69
	including	78.3	80.7	2.4	32.81
	which includes	78.3	79.2	0.9	40.22
	and	79.2	79.8	0.6	13.08
	and	79.8	80.7	0.9	38.56
TUDDH-677		82.2	82.8	0.6	4.35
TUDDH-678		67.4	67.7	0.3	4.14
TUDDH-678		83.4	84	0.6	19.71
	including	83.7	84	0.3	35.99
TUDDH-678		135.3	137.4	2.1	15.12
	including	136.2	137.4	1.2	24.63
TUDDH-678		144.6	144.9	0.3	3.13
TUDDH-680		135.5	136.7	1.2	3.6
TUDDH-680		138.8	139.7	0.9	5.91
TUDDH-680		140.9	144.8	3.9	15.64
	including	140.9	142.1	1.2	21.38
	and	143.6	144.8	1.2	23.48
TUDDH-680		146.6	147.5	0.9	34.77
	including	146.6	147.2	0.6	34.33
	and	147.2	147.5	0.3	35.67
TUDDH-680		148.7	149.9	1.2	31.25

Table 3. Collar coordinates for grade control drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0085	1876267	3920759	151	77.3	-62.0	81.7
TGC-0087	1876264	3920768	152	353.3	-52.3	65.6
TGC-0089	1876264	3920768	152	356.2	-67.4	65.5
TGC-0090	1876264	3920768	153	357.2	-38.6	65.7
TGC-0091	1876264	3920768	152	8.1	-46.1	71.7
TGC-0092	1876265	3920768	152	17.4	-37.1	71.6
TGC-0094	1876266	3920767	151	48.0	-79.6	60.8
TGC-0095	1876266	3920768	152	42.1	-27.6	77.1
TGC-0097	1876267	3920768	153	42.1	-8.2	80.6
TGC-0099	1876267	3920768	153	48.1	-12.4	80.2
TGC-0100	1876267	3920768	153	46.6	-19.2	76.4

Table 4. Collar coordinates for infill drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TUDDH-661	1876179	3920731	199	63.1	-51.2	173.7
TUDDH-663	1876178	3920730	199	61.1	-73.4	197.3
TUDDH-664	1876177	3920731	199	52.4	-59.3	185.7
TUDDH-666	1876177	3920729	199	74.1	-77.1	201.3
TUDDH-667	1876177	3920728	199	83.2	-57.8	185.9
TUDDH-670	1876259	3920803	203	54.3	-55.3	98.6
TUDDH-673	1876177	3920728	199	88.3	-64.3	194.7
TUDDH-677	1876259	3920803	203	60.3	-63.6	101.9
TUDDH-678	1876225	3920709	218	30.5	-61.0	151.4
TUDDH-680	1876225	3920709	218	34.1	-64.1	165.0

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Junior Mining Precious Metals

Emperor Metals Intersects 10.8 Metres of 15.8 g/t Au (including 3.4 m of 27.24 g/t Au); Identifies Overlooked Bulk Tonnage Open Pit Potential at Duquesne West Gold Project in Quebec

Post author By admin
Post date October 17, 2023

Vancouver, British Columbia–(Newsfile Corp. – October 17, 2023) – Emperor Metals Inc. (CSE: AUOZ) (OTC Pink: EMAUF) (FSE: 9NH) (“Emperor“) is pleased to announce additional assay results from the ongoing summer 2023 drilling campaign at the Duquesne West Gold Project. Drilling continues at the property and, with the recent completion of hole DQ23-13, drilling has reached 8,239 metres of a planned +8,000 metres program.

Highlights

10.8 metres (m) of 15.8 grams per tonne (g/t) gold (Au), including 3.4 m of 27.24 g/t Au in DQ23-05 (see Image 1, 2 and 3),
Drilling confirms open-pit potential with bulk tonnage grades in traditionally unsampled intervals, distinct from known underground potential (see Image 4 and 5).
Intersections are predicted to expand the Historical Resource of 727,000 ounces of gold at a grade of 5.42 g/t Au.^1,2,
Drilling confirms the reliability of strategic AI Model, for example, DQ23-05 exceeds the average thickness and grade of the deposit and extends the mineralization along plunge as predicted.

CEO John Florek commented:

What is so impressive is the robustness of mineralization we are encountering. Our findings suggest a shift from a sole focus on high-grade gold to also include an open-pit potential knowing that these thick mineralized zones probably extend to the surface. Previous explorers were only focused on high-grade gold and ignored bulk tonnage opportunities. An approximate estimate of 70% of the historical core near surface has not been sampled.

Our strategic direction now encompasses the development of both pit-constrained and underground resources, which has the potential to substantially elevate the project’s prospects. The appeal of this property grows weekly as the assay results return from the lab.

The application of our AI Geological Model has been pivotal in facilitating a deeper understanding and potential expansion of the deposit. We are committed to the continued growth of this deposit in collaboration with our investors, employing targeted drilling and innovative approaches. We are clearly envisioning the ability to develop a multimillion-ounce potential with the addition of multiple mining scenarios on the property.

The proximity to multiple mills and infrastructure in a Tier 1 mining district makes this project highly valuable compared to its competitors.”

Summary of Drill Results:

DQ23-05 intersection (10.8 m of 15.8 g/t Au) was designed to extend mineralization +100 meters westward down plunge of high-grade mineralization. It intersected higher grade and thickness than predicted by the model, which will help to increase the grade and add ounces laterally to the mineralized stopes model (Images 1, 2 and 3).

Due to multiple zones of mineralization of both high-grade and lower grade bulk tonnage we have focused our remaining drilling towards the open pit concept that has been envisioned over the 2023 summer drilling program (Image 4). This is a significant milestone after examining the results of the 2023 drilling program, coupled with the lack of sampling in the near-surface historical drilling (Image 5). The partial results and the visuals from our 2023 campaign suggest broader mineralized zones potentially amenable for open pit mining (See Table 1 and previous press release dated Sept 12, 2023).

The open pit concept in images 4 and 5 show an ultimate pit with a depth extent to 400 meters; the footprint is 1.8 km by 0.8 km. Initial exploration will strategically focus on a phase 1 pit design. This will allow us to determine the economics as we progress through the phases having the necessary assay results for resource evaluation. Currently Emperor is sampling available, near-surface, core that was not assayed by previous explorers located in the historical core library. Up to 70% of this core has not been assayed.

Partial assays for these reported drillhole results continue to increase confidence to consider an open pit potential to the Duquesne West deposit. Lab results for other mineralized zones intersected in holes DQ23-02, 03, 04, and 05 are in progress.

Samples were sent to SGS Laboratories in Lakefield, ON.

Hole No.	From (m)	To (m)	Interval (m)	Au (g/t Au)
¹DQ23-01	659.7	661.8	2.1	0.88
	661.8	663	1.2	0.47
	663	663.85	0.85	10.7
		Wt. Avg.	4.15	2.77

	794.4	817	22.6	0.62
		Wt. Avg.	22.6	0.62

	914.15	942.95	28.8	0.33
		Wt. Avg.	28.8	0.33

¹DQ23-02	517.2	518.2	1	3.29
	518.2	519.2	1	0.69
		Wt. Avg.	2	1.99

	677.1	679.6	2.5	2.69

¹DQ23-03	417.75	418.85	1.1	5.09

	941.2	942.2	1	11.68
	942.2	943.2	1	0.59
		Wt. Avg.	2	6.14

¹DQ23-04	318.5	336	17.5	0.45
		Wt. Avg.	17.5	0.45

	433.7	434.2	0.5	0.78
	434.2	435	0.8	1.81
	435	435.7	0.7	12.24
	435.7	436.45	0.75	8.98
		Wt. Avg.	2.75	6.23

	449	450	1	2.59
	450	451	1	0.22
	451	452	1	9.92
		Wt. Avg.	3	4.24

	548.3	549.5	1.2	19.01

	571.3	606	34.7	0.45
		Wt. Avg.	34.7	0.45

	651.35	651.95	0.6	0.58
	651.95	652.6	0.65	5.14
		Wt. Avg.	1.25	2.95

²DQ23-05	133	135.5	2.5	5.01

	257.2	281.6	24.4	0.50
		Wt. Avg.	24.4	0.50

	391.9	393	1.1	3.25
	393	393.85	0.85	0.42
	393.85	395	1.15	1.98
		Wt. Avg.	3.1	2.00

	556	556.6	0.6	2.51
	556.6	557.3	0.7	1.53
	557.3	558	0.7	12.08
	558	558.65	0.65	12.58
	558.65	559.35	0.7	22.54
	559.35	560.15	0.8	1.29
	560.15	560.9	0.75	0.02
	560.9	561.7	0.8	0.06
	561.7	562.7	1	1.47
	562.7	563.4	0.7	3.67
	563.4	563.9	0.5	110
	563.9	564.55	0.65	32.15
	564.55	565.1	0.55	23.07
	565.1	565.8	0.7	0.05
	565.8	566.3	0.5	0.45
	566.3	566.8	0.5	84.42
		Wt. Avg.	10.8	15.85
		Including:	3.4	27.24

	575.65	594	18.35	0.52
		Wt. Avg.	18.35	0.52
¹Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%.
²Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 80-90%.

Image 1: Figure showing DQ23-05 intercept-expanding ounces +100 meters along plunge of deposit. This intercept should continue building mineable stopes along this trend.

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Image 2: Representation of mineralized and altered core from DQ23-05 (10.8 m of 15.8 g/t Au (includes 3.4 m of 27.24 g/t Au)). Highly altered breccia zone containing quartz veinlets, sericite, and ankerite.

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Image 3: Cross Section of DQ23-05 (Looking West) 10.8 m of 15.8 g/t Au

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Image 4: Open Pit Concept. Showing both Phase 1 and Ultimate Pit Scenario.

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Image 5: Historical Drillholes (DDH) in Open Pit, showing lack of sufficient sampling for proper resource characterization.

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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 Lakefield 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 Lakefield 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. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.

Under an Option Agreement, Emperor agreed to acquire a one hundred percent (100%) interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property”) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. (GMX-TSX). For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated October 12, 2022, available on SEDAR.

The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au.^1,2 The mineral resource estimate predates modern CIM guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.

Reinterpretation of the existing geological model was created using Artificial Intelligence (A.I) and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.

¹Watts, 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.

²Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent Canadian Institute of Mining and Metallurgy (CIM) standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.

QP Disclosure

The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.

About Emperor Metals Inc.

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

ON BEHALF OF THE BOARD OF DIRECTORS

s/ “John Florek”

John Florek, M.Sc., P.Geol
President, CEO and Director
Emperor Metals Inc.

For further information, please contact:

Mr. Alex Horsley, Director
Phone: 778-323-3058
Email: 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 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/184284

Junior Mining Precious Metals

West Red Lake Gold (WRLG.V) High Grade Drill Results Confirm Geological Modeling at Rowan

Post author By admin
Post date October 13, 2023

Vancouver, British Columbia –News Direct– West Red Lake Gold Mines Ltd.

October 13, 2023 – TheNewswire – Global Stocks News – In a press release dated October 11, 2023, West Red Lake Gold Mines (TSXV:WRLG) (OTC:WRLGF) reported additional drill results from its 100% owned Rowan Property located in the prolific Red Lake Gold District of Northwestern Ontario, Canada.

The company’s flagship asset – The Madsen Gold Mine – is debt free, fully permitted, with a brand-new 800+ tonne per day mill, a tailings and water treatment facility. [1.]

Their 100% wholly owned Rowan Gold Project is the company’s other asset, located approximately 15 kilometers as the crow flies from the Madsen mill. WRLG believes there are synergies between the high-grade resources at Rowan and the Madsen mill.

October 11, 2023 Drilling Highlights:

Hole RLG-23-166B Intersected 2 metres @ 45.20 g/t Au, from 297m to 299m; and 4 metres @ 6.78 g/t Au, from 191m to 195m.
Hole RLG-23-164 Intersected 0.5 metres @ 101.60 g/t Au, from 204.5m to 205m; and 1.35 metres @ 33.47 g/t Au, from 131m to 132.35m.
Hole RLG-23-159 Intersected 2.3 metres @ 12.81 g/t Au, from 262.85m to 265.15m; and 2.1 metres @ 12.43 g/t Au, from 247.4m to 249.5 m.
Hole RLG-23-169 Intersected 1.5m @ 14.61 g/t Au, from 506m to 507.5m, Including 0.5m @ 42.62 g/t Au from 506m to 506.5m.

WRLG CEO Shane Williams has designed, built and operated mines (open pit and underground) in Greece, Turkey and Canada – for Skeena Resources, Eldorado Gold and Rio Tinto. He has a stellar track record of moving mineral assets into production.

“We are seeing continuation of the mineralization at Rowan,” Williams told Guy Bennett, CEO of Global Stocks News (GSN). “From Veins 100 and 101 in particular, we are getting good hits. My geological team is excited about the potential of these veins as we move forward.”

“Following on the heels of the highest-grade intercept ever drilled across the Rowan Property, the team successfully intercepted what is believed to be the same high-grade zone approximately 80 metres down-dip,” stated Williams.

“This represents one of the deepest holes drilled within the high-grade East Zone and bodes well for future expansion opportunity at Rowan as the team continues to extend this highly prospective mineralized vein zone at depth and along strike.”

Click Image To View Full Size

“The drilling completed at the Rowan Mine Target in 2023 has been focused on validating historical data across the Inferred Resource, and also infilling apparent gaps in the analytical data set which was a product of very selective sampling techniques implemented during previous drilling campaigns,” stated WRLG.

“Assay results received from the 2023 drilling program continue to confirm our thesis that quartz veining and gold mineralization continue at depth and along strike, with grades consistent with, or higher than those outlined in the current Inferred Mineral Resource which remains open in all directions”.

“For example, the 100 Vein Zone – which is the furthest north vein currently modeled within the overall Rowan vein corridor – was previously interpreted to be a lower grade portion of the block model. Recent drilling has confirmed that higher grades are present within the 100 Vein Zone below 150 metre elevation, suggesting that gold grades are increasing at depth within this zone which is a trend that has been observed elsewhere in the Red Lake district”.

Drilling at the Rowan Mine Target area will continue with an emphasis on infill and expansion of the existing high-grade mineral resource.

“Originally, Rowan started as an early-stage exploration project,” Williams told GSN. “It was a narrow vein, high grade deposit. As we advance the drill program, we’re getting deeper into the system. It’s opening up and exceeding our initial expectations. We’ve drilled good holes higher in the deposit. The October 11, 2023 press release reports good gold values deeper down.”.

“We are seeing continuation of mineralization,” continued Williams. “We believe it is growing into a bigger deposit. We no longer think of it as a small satellite deposit, but potentially a significant feed source for our Madsen project.”

A total of 42 diamond drill holes for 15,772m have been completed so far in 2023 at the Rowan Mine target. Fire and metallic screen assays have been returned for 35 out of 42 holes completed, with 2 holes having partial assay results and 5 holes pending assays and QAQC.

“I have enjoyed working on greenfield projects, but my deepest expertise and passion is building bridges between advanced exploration and production,” Williams told GSN. “Financing, permitting, mine design, mine optimisation – that’s my bread and butter. We have a assembled a world class team. That is what we are all focused on: putting the Madsen Gold Project back into production.”

References:

1. SRK Consulting. (2021). Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada (West Red Lake Gold Mines, Ed.) [Review of Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada. https://www.globenewswire.com/en/news-release/2022/08/10/2495601/0/en/PureGold-Announces-Updated-Mineral-Resource-Estimate-for-PureGold-Mine.html

guy.bennett@globalstocksnews.com

Full Disclaimer

View source version on newsdirect.com: https://newsdirect.com/news/west-red-lake-gold-wrlg-v-high-grade-drill-results-confirm-geological-modeling-at-rowan-421817683

Base Metals Energy Junior Mining Precious Metals

Grizzly Reports the First Sample Results for the New Work at the Midway, Imperial and Copper Mountain Areas of the Greenwood, BC Precious and Battery Metals Project

Post author By admin
Post date October 13, 2023

Edmonton, Alberta–(Newsfile Corp. – October 12, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that after the Okanogan fire danger has subsided that geological crews are back at the Rock Creek camp and have re-commenced work at Midway, Copper Mountain and the Imperial target areas within the Greenwood Precious and Battery Metals Project.

Highlights

Two new showings identified near the historical Midway Mine including up 5.64 grams per tonne (g/t) gold (Au) from a showing 400 m to the north of Midway and up to 4.19 g/t Au from a grab sample collected about 375 m to the west of the Midway Mine. At least 6 new areas with anomalous gold (> 100 ppb Au) or silver (Ag) in soils have been identified at Midway with follow up work continuing to be conducted.
A total of 50 new rock grab and rock chip samples collected from the historical Imperial Mine area, with 6 samples returning greater than 1 g/t Au up to 12.1 g/t Au and 8 samples returning greater than 40 g/t silver (Ag) up to 469 g/t Ag. The samples define a targeted strike length of over 170 m for future drilling. The samples yield significant amounts of lead (Pb), zinc (Zn) and copper (Cu) with several samples yielding greater than 2% combined base metals.
The Mabel Jenny Trend at the Copper Mountain area continues to yield excellent results including 9 of 14 rock grab and chip samples collected this year from this new zone yielding greater than 1 g/t Au up to 13.75 g/t Au (along with up to 61.9 g/t Ag) and up to 0.475% Cu and 2.93% Zn along a new logging road cut over a strike length of more than 400 m when combined with anomalous samples from 2022.

Brian Testo, President and CEO of Grizzly Discoveries, stated: “We are excited with the new results to date and for the start of the 2023 drilling program, which will pursue a number of high grade gold – silver showings and historical mines along with significant battery metal prospects in our current 160,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!“

Exploration Updates 2023

Drilling will initially be focused at the historical Midway Mine (Figure 2) but the intent is that eventually the Company will complete new drilling this fall, and then in 2024 at Midway, Imperial, Copper Mountain (Mable Jenny, Coronation and Prince of Wales targets), and potentially the Sappho areas, depending upon the timing of the receipt of drill permits, additional funding and weather permitting. We eagerly await drilling permits from the BC Ministry of Energy Mines and Petroleum Resources.

Figure 1: Exploration Targets 2023.

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The Company is awaiting land use permits for conducting drilling and trenching at the Midway Mine area as well as drilling at Copper Mountain, Imperial and potentially the Sappho target areas (Figure 1). The permit applications were submitted initially in January-February and the Company is now awaiting final comments and any required conditions or changes resulting from the recently completed 30 day notification period.

An extensive rock and soil sampling program along with new geological mapping during 2023 has been conducted in preparation for drilling this fall. The work has yielded two new showings identified near the historical Midway Mine including up 5.64 g/t Au from a showing 400 m to the north of the Midway Mine and a second showing along an apparent fault structure with 4.19 g/t Au from a grab sample collected about 375 m to the west of the Midway Mine (Figure 2). At least 6 new areas with anomalous gold (> 100 ppb Au), silver or copper in soils has been identified across the Midway Mine Property with follow up work continuing to be conducted (Figure 2).

To date, gold-silver-base metal mineralization appears to be related to veins and stockworks at contacts between altered ultramafic-carbonate rocks (listwanites) in contact with diorite intrusions in a complex structural setting, with the intersections of structures playing a key role in the localization of alteration.

At the historical Imperial Mine area, a total of 50 new rock grab and rock chip samples were collected from the Imperial showing area, with 6 samples returning greater than 1 (g/t) gold (Au) up to 12.1 g/t Au and 8 samples returning greater than 40 g/t silver (Ag) up to 469 g/t Ag. The samples define a targeted north – south strike length of over 170 m for future drilling (Figure 3). The samples show significant amounts of Pb, Zn and Cu with several samples yielding greater than 2% combined base metals. Geological mapping is in progress and ground geophysical surveys are planned prior to conducting drilling at this target.

Figure 2. Geology and Mineralization Trend at the Historical Midway Mine.

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Figure 3. Geology and Mineralization Trend at the Historical Imperial Mine.

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The Copper Mountain area continues to yield excellent results from a number of showings including the Coronation and Prince of Wales historical mines along with the Mabel Jenny area. A total of 9 of 14 rock grab and chip samples collected this year from a new zone discovered late in 2022 at the Mabel Jenny area has yielded greater than 1 g/t Au up to 13.75 g/t Au (along with up to 61.9 g/t Ag) and up to 0.475% Cu and 2.93% Zn (Figure 4). The discovery was made along a new logging road cut late in 2022 and appears to demonstrate quartz vein stockwork mineralization in an altered diorite over a strike length of more than 400 m when combined with anomalous samples from 2022.

Figure 4. Geology and Mabel Jenny Mineralization Trend Copper Mountain.

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Geological and prospecting crews have re-commenced prospecting, geological mapping, rock and soil sampling within the Greenwood Project area and have conducted an initial pass at the new mineral claim area staked August 1, 2023 (See Company News Release dated September 7, 2023). A number of existing showings and parts or extensions to known showings have been acquired with the staking of the new mineral claims including but not limited to Marshall Lake, Sylvester K, the Great Laxey, Eholt and lands adjacent to and surrounding the historical Phoenix Mine. Results from the initial sampling programs on these new claims will be released as they are received.

The geological and prospecting crew has made several discoveries of sulphide, quartz vein zones and skarn on the new claims (Figure 5). Sulphide showings associated with skarn at Marshall Lake (Figure 5) hosted in Triassic Brooklyn Formation sedimentary rocks including limestone that has been intruded by diorite. The showings have been trenched and bulk sampled in the past (1960’s to 1970’s) yielding significant copper, silver and gold. Little to no modern exploration has been performed at the Marshall Lake target as well as a number of other showings in the Brooklyn sequence such as the Great Laxey.

To date, more than 3,300 soil samples and 600 rock samples have been collected from the Midway, Copper Mountain, Imperial and Sappho target areas and have been submitted to ALS Global Laboratories as well as an initial set of samples from the new mineral claims. Ground geophysical surveys will be performed in September in order to be ready for the 2023 drilling campaign.

Figure 5: New Mineral Claims Acquired August 1, 2023.

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The goal is to have a pipeline of high priority precious metal and battery metal targets that are all permitted and ready for a long 2023 and 2024 drilling campaign in order to prioritize these assets into those that can deliver future mineral resources with additional drilling, eventually leading to some form of economic studies and scenarios that might be able to take advantage of local toll treating opportunities that exist in the Greenwood – Republic region.

ADDITIONAL LANDS ACQUIRED

The Company has signed an option agreement dated October 10, 2023 with Mr. Daniel Hurd of Peachland, British Columbia to purchase the mineral rights to 761.25 hectares (1,881 acres) in six (6) mineral claims in the Greenwood Mining District (“Midway-Beaverdell Option Agreement”).

These claims represent adjacent lands with some historical showings that represent additions that strengthen our land positions in these areas.

Under the terms of the Midway-Beaverdell Option Agreement, the Company may earn a 100% interest in the Midway-Beaverdell claims by paying $7,500 in cash and issuing 150,000 common shares of Grizzly by the third anniversary date of the agreement. Mr. Hurd retains a 1% Net Smelter Royalty and the right to any quarriable rocks. The issuance of common shares of Grizzly under the Midway-Beaverdell Option Agreement is subject to acceptance by the TSX Venture Exchange.

QUALITY ASSURANCE AND CONTROL

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

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

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 66,000 ha (approximately 165,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

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

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

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

Caution concerning forward-looking information

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183759

Base Metals Energy Junior Mining

Ridgeline Minerals Intersects Shallow, High-Grade CRD Mineralization at the Selena Project, Nevada

Post author By admin
Post date October 12, 2023

Including: 0.9 m grading 720.3 g/t Ag, 12% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t AgEq)
And: 60.7 m grading 69.8g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq)

To view a summary of today’s press release by Ridgeline CEO Chad Peters, click HERE

Vancouver, British Columbia–(Newsfile Corp. – October 12, 2023) – Ridgeline Minerals Corp. (TSXV: RDG) (OTCQB: RDGMF) (FSE: 0GC0) (“Ridgeline” or the “Company“) is pleased to announce results from the first two core holes of its proposed five (5) hole, 3,000-meter (“m”) drill program at the Selena (“Selena”) project, Nevada (Figure 1). Results from the Upper Chinchilla zone returned continuous intercepts of shallow-oxide, silver (“Ag”) – lead (“Pb”) – zinc (“Zn”) – gold (“Au”) containing high-grade including intervals that are consistent with nearby reverse circulation (“RC”) holes. Notably, deeper drilling beneath the Upper Chinchilla zone in hole SE23-048 also intersected localized antimony-rich (“Sb”) breccia intervals averaging 1-2% Sb, which are the first of its kind at Selena.

Chad Peters, Ridgeline’s President, and CEO commented, “This year’s drill program has two primary objectives. The first is to upgrade previously drilled, shallow-oxide RC intercepts in the Upper Chinchilla zone, and the second is to make a high-grade CRD discovery at depth. Hole 47 drilled between 2021 RC holes 13 and 14, materially upgrading both the thickness and overall grade of both holes, which includes a significant oxide gold component. This zone is shallow and projects up-dip through hole 48 to surface and is open for expansion. These intercepts confirm our belief that there is significant potential to delineate a shallow-oxide resource at Chinchilla that may be amenable to low-cost heap-leach processing methods.”

Mr. Peters continues, “The highest priority holes of the program are holes 49 and 50, which are in-progress and will drill to depths of 700 meters or more to test for stacked zones of CRD mineralization beneath the Upper Chinchilla Zone. These holes are targeting both sides of the known chimney structure that is believed to be a primary feeder to the Upper Chinchilla zone, which returned bonanza grade CRD intercepts in our 2022 program.”

Chinchilla Zone results summary

SE23-048: 0.9 m grading 720.3 g/t Ag, 12.0% Pb, 0.1% Zn, 0.4 g/t Au (or 1,133.6 g/t Silver Equivalent) (“AgEq”) within 10.9 m grading 94.1 g/t Ag, 1.3% Pb, 0.7% Zn, 0.2 g/t Au starting at 85.3m true vertical depth (“TVD”) (Figure 1 & Figure 2)
- And: 0.6 m grading 3.6 g/t Ag, 2.4% Sb, 0.1 g/t Au starting at 240 m TVD
- And: 3.6 m grading 0.5 g/t Ag, 1.2% Sb, NA g/t Au starting at 247 m TVD
SE23-047: 4.6 m grading 55.2 g/t Ag, 1.2% Pb, 7.2% Zn, 0.2 g/t Au (or 421.1 g/t AgEq) and 2.8 m grading 205.8 g/t Ag, 1.4% Pb, 0.3% Zn, 1.4 g/t Au (or 386.1.1 g/t AgEq) within 60.7 m grading 69.8 g/t Ag, 0.6% Pb, 1.3% Zn, 0.4 g/t Au (or 175.2 g/t AgEq) starting at 93.8 m TVD (Figure 2)
- The 60.7 m composite calculation includes a combined 7.3 m of unrecovered core (typically in 1-2m intervals) due to collapsing hole conditions through the mineralized zone. These intervals were assigned an assay value of 0.0 across all metals, resulting in an estimated dilution of roughly 12% to the overall composite value
Both intercepts are hosted within 10 m to 60 m wide zones of strongly oxidized carbonate replacement (“CRD”) style alteration and are open for expansion up and down-dip.
Holes SE23-049 and SE23-050 are in progress and located ~500 m west of SE23-047 and SE23-048 (Figure 2). Both holes will test for stacked mineralization beneath the high-grade Upper Chinchilla zone intersected with holes SE22-039 and SE22-045 in 2022 (see January 24 press release HERE)
- SE23-049 has ~250 m of prospective host rocks remaining to test before moving to SE23-050 and has intersected multiple zones of fugitive calcite breccias or “BBQ Rock” beneath the Upper Chinchilla zone, a proximal indicator of CRD alteration and mineralization (see BBQ Rock core photo HERE)

For a complete table of all Chinchilla Zone assay results click HERE

Figure 1: Plan view map showing SE23-047 and SE23-048 results on the eastern edge of the Chinchilla zone as well as select historical drill intercepts. SE23-049 and SE23-050 are in progress

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/183736_0169cd1654a36af3_002full.jpg

Silver Equivalent Calculation: Metal Prices ($20 Ag, $0.90 Pb, $1.25 Zn, 1800 Au, no recovery factor applied)
Silver g/t + (Gold g/t * (Gold Price/ Silver Price)) + ((22.0462* Lead Price)/ ((1/31.1035) * (Ag Price)) * Lead %) +
((22.0462* Zinc Price)/ ((1/31.1035) * (Ag Price)) * Zinc %)

Figure 2: Chinchilla Long-Section C-C’ highlighting SE23-047 and SE23-048 drill intercepts with the interpreted geometry of high-grade “chimney” and stratabound “manto” horizons shown with silver equivalent grade contours

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/183736_0169cd1654a36af3_003full.jpg

To view Chinchilla X-Section D-D’ Click HERE.

To view property-wide long-section A-A’ click HERE.

Picture 1: Shortwave ultra-violet photo of SE23-049 drill core starting at 293 m depth showing fugitive calcite veins or “BBQ Rock” within previously untested host rocks beneath the Upper Chinchilla Zone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/7298/183736_0169cd1654a36af3_004full.jpg

Selena Project
Selena is located in White Pine County, Nevada, approximately 64 kilometers (“km”) north of the town of Ely, NV. The Project shares a property boundary with the Butte Valley project, a US $33M earn-in agreement between Freeport-McMoRan and Falcon Butte Minerals. The 100% owned project is comprised of 39 square kms of highly prospective exploration ground including Ridgeline’s shallow-oxide 2020 Ag-Au ± Pb-Zn Chinchilla discovery. Subsequent drilling has continued to highlight the potential for high-grade CRD type mineralization (Ag-Au-Pb-Zn ±Cu) between Chinchilla and the Butte Valley Cu-Au-Ag porphyry located directly west of the property. (View the Selena VRIFY Deck Here)

QAQC Procedures
Samples are submitted to American Assay Laboratories (AAL) of Sparks, Nevada, which is a certified and accredited laboratory, independent of the Company. Independent check samples are sent to Paragon Geochemical Labs (PAL) of Sparks, Nevada. Samples are prepared using industry-standard prep methods and analysed using FA-PB30-ICP (Au; 30 g fire assay) and ICP-5AM48 (48 element Suite; 0.5 g 5-acid digestion/ICP-MS) methods. AAL also undertakes its own internal coarse and pulp duplicate analysis to ensure proper sample preparation and equipment calibration. Ridgeline’s QA/QC program includes regular insertion of CRM standards, duplicates, and blanks into the sample stream with a stringent review of all results completed by the Company’s Qualified Person, Michael T. Harp, Vice President, Exploration.

Technical information contained in this news release has been reviewed and approved by Michael T. Harp, CPG. the Company’s Vice President, Exploration, who is Ridgeline’s Qualified Person under National Instrument 43-101 and responsible for technical matters of this release.

About Ridgeline Minerals Corp.
Ridgeline Minerals is a discovery focused precious and base metal explorer with a proven management team and a 204 km² exploration portfolio across six projects in Nevada and Idaho, USA. More information about Ridgeline can be found at www.RidgelineMinerals.com.

On behalf of the Board
“Chad Peters”
President & CEO

Further Information:
Chad Peters, P.Geo.
President, CEO & Director
Ridgeline Minerals Corp.
+1 775 304 9773
cpeters@ridgelineminerals.com

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

Cautionary Note regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. Forward-Looking Information includes, but is not limited to, the anticipated benefits of the Earn-In Agreement and the transaction contemplated thereby. The words “potential”, “anticipate”, “meaningful”, “discovery”, “forecast”, “believe”, “estimate”, “expect”, “may”, “will”, “project”, “plan”, “historical”, “historic” and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results to be materially different from any future results expressed or implied by the Forward-Looking Information. In preparing the Forward-Looking Information in this news release, Ridgeline has applied several material assumptions, including, but not limited to, assumptions that TSX Venture Exchange approval will be granted in a timely manner subject only to standard conditions; the current objectives concerning the Project can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner; and that all requisite information will be available in a timely manner. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of Ridgeline to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Such risks and other factors include, among others, risks related to dependence on key personnel; risks related to unforeseen delays; risks related to historical data that has not been verified by the Company; as well as those factors discussed in Ridgeline’s public disclosure record. Although Ridgeline has attempted to identify important factors that could affect Ridgeline and may cause actual actions, events, or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information 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 Information. Except as required by law, Ridgeline does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183736

Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Announces Interception of Targeted Higher-Grade Silver Zone

Post author By admin
Post date October 11, 2023

Burlington, Ontario–(Newsfile Corp. – October 11, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces the Company has intercepted the targeted mineralized zone at the Buckeye Mine in Arizona (the “Zone”). Based upon historical data, management expects the Zone to contain higher-grade silver mineralization. Confirmation will depend upon multiple rounds of sampling.

To target the Zone, SBMI has been working from its field team’s intensive knowledge of the area, assay data from historical drill holes drilled in 1969, mapping carried out in and around 1969, informal reports generated from such holes and mapping, actual field results as SBMI’s team drifted along the vein behind the Treasure Room, and the results of a recent LIDAR study. (As previously disclosed, the Company’s information related to those historical drill holes, the historical assaying of them, and the informal reports, do not meet NI43-101 standards and cannot be disclosed.

In its September 9, 2023 press release, and in other materials dating back to March, 2022, the Company advised, “The team now continues to drift along the vein towards a targetted area.” Management expects assay results from current and pending sampling should confirm the Zone has been hit, located where management believed it would be, based upon historical and current data. The Company is especially pleased that the historical data upon which it relied, has confirmed to be the actual location of the Zone, and can be further relied upon (see photo of targeted zone with iron oxide on right, vein and water course on left indicating fault and of the significant mineralization encountered in the zone).

Photo of mineralization on current face

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/183675_sbmimage1.jpg

Photo of mineralization on current face

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/183675_sbmimage2.jpg

In particular, SBMI drifted 708 feet from the portal, drifted behind the Treasure Room (which is not yet safe to work in), blasted through harder-than-expected host rock, and earlier this week drilled and blasted into the Zone approximately 30 feet from the projected drill holes left by a previous optionee in 1969. The assay data from those historical drill holes informed SBMI’s decision to target this zone; however, none were generally disclosed to the public. Please see the caution above.

SBMI plans to continue mining along the vein, refine a plan to maximize recovery of the metals from the Zone, and begin shipping mineralized material from the Zone to its 100%-owned mill in Globe, Arizona for processing. Multiple rounds of samples from the vein and the Zone will be collected and then assayed at SBMI’s 100%-owned assay facility. SBMI also intends to send samples to an independent third party lab for confirmation analysis and for analysis for other metals.

The Company continues to seek further data to inform its knowledge of local structures, the vein and the Zone. The Company recently contracted a Ground Penetrating Radar System study to outline the potential size and location of the Zone. The contractor for the study has advised it will use an OKM Future Walkabout 2003/5 ground penetrating radar unit that can detect historical tunnels, shafts and drifts, as well as native gold, native silver and other metals up to 60 feet deep.

The contractor has advised the company that the ground penetrating radar unit uses an electronic pulse method to select an anomaly in the Zone such as natural features, a formation of strata, hollow spaces, level groundwater, buried objects, pipes, tanks, boxes and other targets. The Company intends to further engage the contractor to help determine the overall extent of the Zone, the vein system and potential parallel structures.

The mine road was recently bladed in part by the United States Forest Service as part of its firefighting efforts. The mill has been test run, the fuel and water supply maximized, and the mill crew and assay teams are on standby. In conclusion, pending the sampling results, the mine and the mill are ready to be put into steady production.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

SBMI also announces that MNP LLP (the “Successor Auditor”) have been appointed as the company’s new auditor effective September 15, 2023, replacing Grant Thornton LLP, (the “Former Auditor”).

Reporting notices prepared in accordance with National Instrument 51-102 (“NI 51-102”) by the Former Auditor, the Successor Auditor and the Company have been filed on SEDAR.

There are no disagreements or consultations (as those terms are defined in NI 51-102) in connection with the change of auditor nor have there been any reservations or modifications in the Former Auditor’s reports on the Company’s financial statements relating to the period during which it was auditor.

No “reportable event” as defined in NI 51-102, has occurred in connection with the audit of the most recently completed fiscal year of the Company, nor any period from the most recently completed fiscal years of the Company for which Grant Thornton LLP issued an audit report and the date of the Notice.

The termination of Grant Thornton LLP, and appointment of MNP LLP, as auditor of the Company were considered and approved by the Board of Directors of the Company.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/183675

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