Category: Junior Mining

Goldshore Closes Non-Brokered Private Placement of $3.75 Million

Post author By admin
Post date November 20, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 20, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce that it has closed its previously announced private placement (the “Private Placement“), for aggregate gross proceeds of $3.75 million. The Company issued the following securities:

(i) 37,500,000 units of the Company (“Units“) at a price of $0.10 per Unit. Each Unit consists of one common share (each, a “Common Share“) and one common share purchase warrant (each whole warrant, a “Warrant“); and

(ii) Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share“) at an exercise price of $0.13 per Warrant Share for the next thirty-six (36) months until November 17, 2026.

The net proceeds from the Private Placement will be used to continue to advance the Moss Gold Project through development of a new resource model and a new mineral resource estimation; in addition to continuing the engineering and metallurgical studies being done on various leach methodologies (including heap leach) and ultimately factoring this new information into a preliminary economic assessment, along with working capital and general corporate purposes.

In connection with the Private Placement, the Company paid a finder’s fee of 1,008,000 Units to Eventus Capital Corp. There were no cash finder’s fees paid in connection with the Private Placement.

The securities issued pursuant to the Private Placement, and any Common Shares issued on exercise of Warrants, are subject to a four-month and one day hold period under applicable securities laws in Canada and TSX Venture Exchange (“TSXV“) hold period, as applicable, expiring on March 18, 2024.

Certain directors and officers of the Company have participated in the Private Placement. Brett A. Richards, a director and officer of the Company, subscribed for 900,000 Units; Marlis Yassin, an officer of the Company, subscribed for 100,000 Units; Victor Cantore, a director of the Company, subscribed for 750,000 Units; Shawn Khunkhun, a director of the Company, subscribed indirectly for 250,000 Units; Joanna Pearson, a director of the Company, subscribed for 100,000 Units; and Peter Flindell, an officer of the Company, subscribed for 300,000 Units (collectively, the “Related Party Participation“). The Related Party Participation constitutes a “related party transaction” as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“). Pursuant to sections 5.5(a) and 5.7(1)(a), the Company is exempt from obtaining a formal valuation and minority approval of the Company’s shareholders in respect of the Related Party Participation due the fair market value of the Related Party Participation being below 25% of the Company’s market capitalization for the purposes of MI 61-101.

The Company will file a material change report in respect of closing of the Private Placement. However, the material change report will be filed less than 21 days prior to the closing of the Private Placement, which is consistent with market practice and the Company deems reasonable in the circumstances.

Issuance of RSUs

The Company has also issued 600,000 restricted share units (“RSUs“) to Kyle Hickey, a director of the Company. The RSUs will fully vest on November 17, 2024, one year from the date of grant. Once vested, each RSU represents the right to receive one Common Share, the equivalent cash value thereof, or a combination of the two, at the Company’s discretion. The issuance of RSUs have been made in accordance with the Company’s Omnibus Incentive Plan (the “Plan“) that was approved by the Company’s directors on November 8, 2022. The Plan remains subject to the approval of the shareholders of the Company at its next Annual General and Special Meeting. Any grants of share-based compensation made under the Plan prior to approval of the Plan by shareholders, including the aforementioned grant of the RSUs and the grant of RSUs noted below, will be subject to the approval of disinterested shareholders at the next Annual General and Special Meeting of the Company. The Company anticipates holding its next Annual General and Special Meeting of shareholders on January 23, 2024.

Early Warning Disclosure

The Company has been advised that following the: (i) acquisition as part of the Private Placement by Brian Paes-Braga (“Acquiror”) of 15,000,000 Units, issued for a price of $0.10 per Unit for total consideration paid by Acquiror of $1,500,000, and (ii) grant by the Company of 600,000 RSUs to Acquiror, the Acquiror has beneficial ownership, control or direction of 15,675,000 Common Shares representing 6.34% of the issued and outstanding Common Shares, and would have beneficial ownership, control or direction of 31,275,000 Common Shares representing 11.90% of the Common Shares on a partially diluted basis assuming the exercise of Warrants and settlement of RSUs. The Acquiror has beneficial ownership of 15,000,000 Warrants representing 17.73% of the issued and outstanding Warrants. The Acquiror has beneficial ownership of 600,000 RSUs representing 12.84% of the issued and outstanding RSUs. Prior to the Private Placement, the Acquiror had beneficial ownership, direction or control of 675,000 Common Shares, representing 0.27% of the issued and outstanding Common Shares. The Company has been advised that the Acquiror acquired these securities for investment purposes and their acquisition will be disclosed in an early warning report to be filed under the Company’s SEDAR+ profile. The Acquiror may in the future acquire or dispose of securities of the Company through the market, privately or otherwise, as circumstances or market conditions warrant.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

About Goldshore

Goldshore is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario. The Company is well-financed and supported by an industry-leading management group, board of directors, and advisory board. Goldshore is well positioned to advance the Moss Gold Project through the next stages of exploration and development.

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements” within the meaning of Canadian securities laws. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, use of proceeds related to the Private Placement, filing of a material change report with respect to the Private Placement, shareholder meetings and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188017

Base Metals Junior Mining Precious Metals

Aya Gold & Silver Reports High-Grade Drill Exploration Results and Adds 4 Permits at Boumadine

Post author By admin
Post date November 20, 2023

MONTREAL, Nov. 20, 2023 /CNW/ – Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) (“Aya” or the “Corporation”) is pleased to announce new high-grade drill exploration results at Boumadine in the Kingdom of Morocco. The new results confirm the large, high-grade mineralized zones in the central and northern portions of the Main Trend, which remains open in all directions.

The Corporation has also added 4 permits to Boumadine, which now has a total surface footprint of 78 square kilometers (“km²”).

Key Highlights¹

Definition of new high-grade mineralization from the infill drilling program:
- BOU-DD23-180 intersected 1,039 grams per tonne (“g/t”) silver equivalent (“AgEq”) over 23.5 meters (“m”) (6.41 g/t Au, 116 g/t Ag, 4.7% Zn, 0.6% Pb and 0.4% Cu)
- BOU-DD23-184 intersected 474 g/t AgEq over 30.1m (2.57 g/t Au, 85 g/t Ag, 2.2% Zn, 0.6% Pb and 0.1% Cu), including 3.2m at 1,339 g/t AgEq and 3.4m at 1,169 g/t AgEq
- BOU-DD23-172 intersected 2,689 g/t AgEq over 3.7m (22.03 g/t Au, 531 g/t Ag, 1.3% Zn, 0.3% Pb and 0.2% Cu)
- BOU-DD23-186 intersected 442 g/t AgEq over 16.6m (1.85 g/t Au, 150 g/t Ag, 1.9% Zn, 0.3% Pb and 0.1% Cu), including 2.7m at 1,088 g/t AgEq
- BOU-DD23-176 intersected 202 g/t AgEq over 30.6m (1.42 g/t Au, 20 g/t Ag, 0.6% Zn, 0.3% Pb and 0.05% Cu)
- BOU-DD23-178 intersected 613 g/t AgEq over 9.5m (2.70 g/t Au, 49 g/t Ag, 4.2% Zn, 1.8% Pb and 0.2% Cu), including 2.3m at 1,476 g/t AgEq
Acquisition of two mining permits totaling 15.8 km² north-east and south-west of Boumadine.
Acquisition of one mining and one exploration permit for a total of 20.0 km² west of Boumadine.

“The acquisition of new permits is core to our strategy of consolidating our land position, and the four permits provide additional upside potential in the vicinity of the Boumadine Main Trend,” said Benoit La Salle, President & CEO. “Today’s high-grade drilling results including BOU-DD23-180 and BOU-DD23-184 confirm both continuity of the Main Trend and its potential from surface and over a very wide area. Following the positive metallurgical test results, our team is now focused on completing the remaining 20% of the expanded drill program and delivering the Q1-2024 Boumadine resource estimate.”

__________________________________

¹ All intersections are in core lengths; Ag equivalent is based on a 100% recovery with the following ratios: 1g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 g/t Ag; 1% Pb: 31.8 g/t Ag; 1% Zn: 54.1 g/t Ag

Table 1 – Significant Intercepts from Boumadine Drill Exploration Program (Core Lengths)

DDH No.	Section	Zone	From (m)	To (m)	Au (g/t)	Ag (g/t)	Length* (m)	Cu (%)	Pb (%)	Zn (%)	Mo (g/t)	Ag Eq** (g/t)
BOU-DD23-172	8550N	Para	141.5	146.1	4.59	99	4.6	0.1	0.9	2.3	135	694
BOU-DD23-172	8550N	Main	151.8	155.5	22.03	531	3.7	0.2	0.3	1.3	9	2689
BOU-DD23-172	8550N	Para	163.5	169.2	2.61	100	5.7	0.1	0.1	4.1	8	589
Including			165.2	168.6	3.96	150	3.4	0.2	0.2	6.4	11	902
BOU-DD23-173	8025N	Main	203.5	214.1	1.60	22	10.6	0.0	0.1	1.2	6	246
BOU-DD23-176	8275N	Main	69.1	99.7	1.42	20	30.6	0.0	0.3	0.6	8	202
BOU-DD23-178	8275N	Main	166.4	175.9	2.70	49	9.5	0.2	1.8	4.2	36	613
Including			165.4	167.7	6.49	125	2.3	0.3	1.3	12.3	4	1476
BOU-DD23-179	8225N	Main	70.3	82.2	1.52	8	11.9	0.0	0.5	1.4	18	246
BOU-DD23-180	8375N	Para	127.7	136.5	1.27	21	8.8	0.0	0.5	2.5	17	298
BOU-DD23-180	8375N	Main	165.1	188.6	6.41	116	23.5	0.4	0.6	4.7	3	1039
BOU-DD23-180	8375N	Para	248.5	282.4	0.64	24	33.9	0.0	0.3	0.5	5	128
BOU-DD23-184	8225N	Main	104.8	134.9	2.57	85	30.1	0.1	0.6	2.2	15	474
Including			104.8	108.0	6.69	528	3.2	0.1	0.8	2.6	8	1339
Including			130.5	133.9	5.65	120	3.4	0.2	1.6	8.1	91	1169
BOU-DD23-186	8175N	Main	37.8	54.4	1.85	150	16.6	0.1	0.3	1.9	8	442
Including			45.4	48.1	6.03	381	2.7	0.2	0.5	1.7	12	1088
BOU-DD23-187	8225N	Main	183.6	193.3	1.27	33	9.7	0.0	0.2	1.9	33	271
BOU-DD23-189	8175N	Main	92.5	97.3	4.00	126	4.8	0.1	1.5	1.4	14	642
Including			94.3	97.3	5.95	179	3.0	0.2	2.2	1.2	15	896
BOU-DD23-189	8175N	Para	103.1	114.7	1.38	68	11.6	0.1	0.1	2.9	33	366
BOU-DD23-191	8175N	Main	158.5	169.5	1.61	30	11.0	0.1	0.2	3.4	12	377
Including			158.5	167.5	1.87	33	9.0	0.1	0.2	3.7	7	423
BOU-DD23-198	8675N	Para	185.8	196.1	2.59	63	10.3	0.2	0.2	2.1	6	451
Including			185.8	189.4	6.21	144	3.6	0.5	0.4	3.7	5	1006
BOU-DD23-200	8175N	Main	244.3	248.5	3.47	80	4.2	0.3	0.1	1.0	19	506
BOU-DD23-202	8675N	Main	349.2	355.2	4.31	129	6.0	0.1	0.6	1.4	41	645
Including			352.3	354.0	10.11	339	1.7	0.3	1.2	2.8	54	1522

*	True width remains undetermined at this stage; all values are uncut.
**	Ag equivalent is based on a 100% recovery with the following ratio: 1 g/t Au: 93.4 g/t Ag; 1% Cu:130.4 Ag; 1% Pb: 31.8 Ag; 1% Zn: 54.1 Ag.

Figure 1: Location of New Boumadine Permits (CNW Group/Aya Gold & Silver Inc)

Figure 2 – Surface Plan of Boumadine Property with Magnetic Data (Residual Total Field) and 2023 Drill Holes (CNW Group/Aya Gold & Silver Inc)

2023 Exploration Results

To date, 159 diamond drill holes (“DDH”) for a total of 61,312m have been completed at Boumadine in 2023 (Figure 2 and Appendix 2). Both infill and exploration drilling were conducted on strike along the Main Trend (South, Central, and North Zones).

Most results have been received for drill holes up to BOU-DD23-203 (Table 1, Figure 4, Figure 5, and Appendix 1).

Results received since September 2023 confirm the high grade of the north and central sections of the Main Trend, notably with holes BOU-DD23-180 and BOU-DD23-184 intersecting large, mineralized zones.

The main mineralization generally consists of 1m to 4m wide (locally reaching over a 10m width) N340- oriented massive sulphide lenses/veins sharply dipping eastward (> 70°). The massive sulphide veins (>80%) are mainly composed of pyrite, with variable proportions of sphalerite, galena, and chalcopyrite. Figure 3 presents the results of the Boumadine Main Zone on a longitudinal section along the deposit, defining ore shoots shallowly dipping toward south, in both the Central and South Zones.

Figure 3 – Longitudinal View of Boumadine Main Zone (CNW Group/Aya Gold & Silver Inc)

Figure 4 – Surface Plan of Central & North Zones with New 2023 DDH Results (CNW Group/Aya Gold & Silver Inc)

Next Steps

The 76,000m drilling program is 80% complete and is expected to be completed at year-end 2023. The Corporation expects to publish an NI 43-101 compliant resource by the end of Q1-2024.

Fieldwork will commence on the new permits in 2024 and will combine a hyperspectral survey, ground geophysics, mapping and prospecting.

Technical Information

Aya has implemented a quality control program to comply with best practices in sampling and analysis of drill core. Drill core samples were transported in sealed bags for analysis at Afrilab laboratory in Marrakech. Standards of different grades and blanks were inserted every 20 samples in addition to the standards, blanks and pulp duplicate inserted by Afrilab.

Qualified Person

The scientific and technical information contained in this press release have been reviewed by David Lalonde, B. Sc, Head of Exploration, Qualified Person, for accuracy and compliance with National Instrument 43-101.

About Aya Gold & Silver Inc.

Aya Gold & Silver Inc. is a rapidly growing, Canada-based silver producer with operations in the Kingdom of Morocco.

The only TSX-listed pure silver mining company, Aya operates the high-grade Zgounder Silver Mine and is exploring its properties along the prospective South-Atlas Fault, several of which have hosted past-producing mines and historical resources. Aya’s Moroccan mining assets are complemented by its Tijirit Gold Project in Mauritania, which is being advanced to feasibility.

Aya’s management team maximizes shareholder value by anchoring sustainability at the heart of its production, resource, governance, and financial growth plans.

Forward-Looking Statements

This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”), which reflects management’s expectations regarding Aya’s future growth and business prospects (including the timing and development of new deposits and the success of exploration activities) and other opportunities. Wherever possible, words such as “confirm”, “potential”, “complete”, “expect” “extend”, “belief”, and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, or are “likely” to be taken, occur or be achieved, have been used to identify such forward-looking information. Specific forward-looking statements in this press release include, but are not limited to, statements and information with respect to the exploration and development potential of Boumadine and the advancement of and success of the exploration program at Boumadine , and timing for the release of the Company’s disclosure in connection with the foregoing. Although the forward-looking information contained in this press release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Aya cannot be certain that actual results will be consistent with such forward-looking information. Such forward-looking statements are based upon assumptions, opinions and analysis made by management in light of its experience, current conditions, and its expectations of future developments that management believe to be reasonable and relevant but that may prove to be incorrect. These assumptions include, among other things, the ability to obtain any requisite governmental approvals, the accuracy of Mineral Reserve and Mineral Resource Estimates (including, but not limited to, ore tonnage and ore grade estimates), silver price, exchange rates, fuel and energy costs, future economic conditions, anticipated future estimates of free cash flow, and courses of action. Aya cautions you not to place undue reliance upon any such forward-looking statements.

The risks and uncertainties that may affect forward-looking statements include, among others: the inherent risks involved in exploration and development of mineral properties, including government approvals and permitting, changes in economic conditions, changes in the worldwide price of silver and other key inputs, changes in mine plans (including, but not limited to, throughput and recoveries being affected by metallurgical characteristics) and other factors, such as project execution delays, many of which are beyond the control of Aya, as well as other risks and uncertainties which are more fully described in Aya’s 2022 Annual Information Form dated March 31, 2023, and in other filings of Aya with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Furthermore, Aya’s corporate update of May 28, 2020 regarding the materiality of its assets as well as to studies regarding non-material assets remains applicable as at the date hereof. Aya does not undertake any obligation to update forward-looking statements should assumptions related to these plans, estimates, projections, beliefs, and opinions change. Nothing in this document should be construed as either an offer to sell or a solicitation to buy or sell Aya securities. All references to Aya include its subsidiaries unless the context requires otherwise.

Appendix 1 – Full Drill Results from Boumadine (core lengths)

DDH No.	Section	Zone	From (m)	To (m)	Au (g/t)	Ag (g/t)	Length* (m)	Cu (%)	Pb (%)	Zn (%)	Mo (g/t)	Ag Eq** (g/t)
BOU-DD23-165	8125N	Para	280.1	282.1	4.69	84	2.0	0.3	0.1	0.3	47	589
BOU-DD23-165	8125N	Para	297.0	298.0	0.37	24	1.0	0.0	0.1	2.6	8	209
BOU-DD23-165	8125N	Para	333.0	333.5	0.26	42	0.5	0.0	1.3	4.1	7	327
BOU-DD23-165	8125N	Main	462.7	463.7	0.36	12	1.0	0.0	0.1	0.2	4	60
BOU-DD23-165	8125N	Para	546.2	546.9	0.60	25	0.7	0.0	0.5	0.6	4	127
BOU-DD23-166	8850N	Para	140.0	141.0	0.32	43	1.0	0.0	0.1	0.8	2	119
BOU-DD23-166	8850N	Para	141.7	142.5	0.09	48	0.8	0.0	0.3	0.6	9	99
BOU-DD23-167	8025N	NSR	0.0	163.4	0.00	0	163.4	0.0	0.0	0.0	0	0
BOU-DD23-168	8325N	Para	125.4	126.4	4.35	16	1.0	0.0	0.4	0.8	1	480
BOU-DD23-170	8025N	Para	67.3	68.9	0.36	23	1.6	0.0	0.2	0.3	85	84
BOU-DD23-170	8025N	Main	86.5	87.6	2.59	63	1.1	0.1	0.3	0.6	304	382
BOU-DD23-170	8025N	Para	124.3	126.5	0.48	4	2.2	0.0	0.1	0.5	8	84
BOU-DD23-172	8550N	Para	128.3	130.1	0.26	23	1.8	0.0	0.6	0.7	68	108
BOU-DD23-172	8550N	Para	141.5	146.1	4.59	99	4.6	0.1	0.9	2.3	135	694
BOU-DD23-172	8550N	Main	151.8	155.5	22.03	531	3.7	0.2	0.3	1.3	9	2689
BOU-DD23-172	8550N	Para	163.5	169.2	2.61	100	5.7	0.1	0.1	4.1	8	589
Including			165.2	168.6	3.96	150	3.4	0.2	0.2	6.4	11	902
BOU-DD23-172	8550N	Para	244.8	245.6	1.29	41	0.8	0.0	0.2	0.4	3	194
BOU-DD23-173	8025N	Para	127.4	128.6	0.54	16	1.2	0.0	0.1	0.4	15	95
BOU-DD23-173	8025N	Main	203.5	214.1	1.60	22	10.6	0.0	0.1	1.2	6	246
Including			209.3	214.1	2.67	32	4.8	0.1	0.2	2.0	8	407
BOU-DD23-174	8025N	Main	287.1	290.3	1.90	40	3.2	0.1	0.2	0.3	19	260
Including			288.1	289.3	4.04	80	1.2	0.3	0.3	0.3	27	530
BOU-DD23-174	8025N	Para	435.0	435.5	3.29	126	0.5	0.2	0.7	0.3	4	492
BOU-DD23-175	8025N	Para	108.1	108.8	0.28	21	0.7	0.1	0.5	2.4	12	205
BOU-DD23-175	8025N	Para	183.6	187.0	0.05	45	3.4	0.0	5.7	1.5	9	317
BOU-DD23-175	8025N	Main	269.3	270.3	0.16	16	1.0	0.0	1.5	2.1	22	195
BOU-DD23-176	8275N	Para	45.3	46.0	0.54	13	0.7	0.0	0.1	5.1	15	347
BOU-DD23-176	8275N	Para	49.5	50.6	0.47	8	1.1	0.0	0.1	0.3	6	73
BOU-DD23-176	8275N	Main	69.1	99.7	1.42	20	30.6	0.0	0.3	0.6	8	202
BOU-DD23-177	8850N	Main	31.9	34.8	3.40	120	2.9	0.0	1.5	0.1	17	494
BOU-DD23-177	8850N	Para	43.0	44.0	0.76	29	1.0	0.0	0.7	0.7	24	160
BOU-DD23-178	8275N	Para	113.1	117.5	2.32	28	4.4	0.0	0.3	1.3	4	333
BOU-DD23-178	8275N	Para	132.1	132.8	0.39	40	0.7	0.0	1.6	2.2	2	251
BOU-DD23-178	8275N	Para	139.5	142.0	1.21	46	2.5	0.0	0.4	1.9	6	280
BOU-DD23-178	8275N	Para	151.8	152.7	0.76	12	0.9	0.0	0.2	0.3	2	107
BOU-DD23-178	8275N	Para	156.1	158.3	2.66	59	2.2	0.2	0.1	0.2	5	348
BOU-DD23-178	8275N	Main	166.4	175.9	2.70	49	9.5	0.2	1.8	4.2	36	613
Including			165.4	167.7	6.49	125	2.3	0.3	1.3	12.3	4	1476
BOU-DD23-179	8225N	Para	22.4	22.9	0.66	64	0.5	0.0	1.5	5.3	75	467
BOU-DD23-179	8225N	Para	24.5	25.0	0.73	33	0.5	0.1	0.5	2.8	16	271
BOU-DD23-179	8225N	Para	38.0	38.6	0.39	12	0.6	0.0	0.1	1.0	8	110
BOU-DD23-179	8225N	Para	44.0	47.4	1.17	28	3.4	0.0	0.1	1.1	17	203
BOU-DD23-179	8225N	Main	70.3	82.2	1.52	8	11.9	0.0	0.5	1.4	18	246
BOU-DD23-180	8375N	Para	104.7	105.6	0.40	24	0.9	0.0	0.9	2.3	1	217
BOU-DD23-180	8375N	Para	127.7	136.5	1.27	21	8.8	0.0	0.5	2.5	17	298
Including			129.4	133.5	2.18	31	4.1	0.1	0.3	3.4	28	440
BOU-DD23-180	8375N	Para	144.6	148.2	0.69	18	3.6	0.0	0.3	0.8	5	141
BOU-DD23-180	8375N	Para	155.6	156.4	0.59	24	0.8	0.0	0.3	2.2	107	217
BOU-DD23-180	8375N	Para	157.3	157.9	0.49	12	0.6	0.0	0.2	1.8	11	161
BOU-DD23-180	8375N	Para	159.8	160.3	2.62	67	0.5	0.1	0.5	3.7	7	538
BOU-DD23-180	8375N	Main	165.1	188.6	6.41	116	23.5	0.4	0.6	4.7	3	1039
BOU-DD23-180	8375N	Para	248.5	282.4	0.64	24	33.9	0.0	0.3	0.5	5	128
BOU-DD23-180	8375N	Para	296.0	297.0	0.64	8	1.0	0.0	0.0	0.1	11	73
BOU-DD23-180	8375N	Para	301.0	302.0	0.42	12	1.0	0.0	0.3	0.5	6	88
BOU-DD23-181	8025N	Main	345.1	345.9	0.99	48	0.8	0.1	2.4	2.6	3	376
BOU-DD23-181	8025N	Para	357.2	358.3	0.34	59	1.1	0.2	6.1	7.5	3	717
BOU-DD23-181	8025N	Para	480.2	480.7	0.35	33	0.5	0.0	1.3	0.9	34	159
BOU-DD23-181	8025N	Para	537.1	538.3	0.03	136	1.2	0.0	0.4	0.2	8	163
BOU-DD23-182	8275N	Para	145.3	145.9	0.74	24	0.6	0.0	0.9	1.4	45	202
BOU-DD23-182	8275N	Para	177.9	181.0	0.50	30	3.1	0.0	1.0	2.4	12	243
BOU-DD23-182	8275N	Main	189.2	192.0	0.82	23	2.8	0.1	2.0	1.2	31	248
BOU-DD23-182	8275N	Para	196.2	199.2	0.67	17	3.0	0.0	0.8	1.6	7	198
BOU-DD23-182	8275N	Para	201.2	205.4	0.43	16	4.2	0.0	0.6	2.1	4	190
BOU-DD23-183	8025N	Para	105.8	107.0	1.02	48	1.2	0.1	0.0	0.0	3	160
BOU-DD23-183	8025N	Para	287.7	288.7	0.64	7	1.0	0.0	0.3	0.1	6	85
BOU-DD23-183	8025N	Para	364.9	366.2	0.38	16	1.3	0.1	0.1	0.2	7	75
BOU-DD23-183	8025N	Main	507.6	514.0	0.80	23	6.4	0.0	0.4	0.6	10	146
Including			508.2	510.0	1.85	20	1.8	0.1	0.3	0.6	10	244
BOU-DD23-184	8225N	Para	59.7	60.2	0.52	33	0.5	0.0	0.6	4.6	40	358
BOU-DD23-184	8225N	Main	104.8	134.9	2.57	85	30.1	0.1	0.6	2.2	15	474
Including			104.8	108.0	6.69	528	3.2	0.1	0.8	2.6	8	1339
Including			130.5	133.9	5.65	120	3.4	0.2	1.6	8.1	91	1169
BOU-DD23-184	8225N	Para	135.9	136.9	0.36	12	1.0	0.0	0.3	5.7	9	369
BOU-DD23-185	8375N	Para	143.4	145.4	0.56	24	2.0	0.0	0.5	1.0	11	148
BOU-DD23-185	8375N	Para	175.6	176.5	4.97	252	0.9	0.4	2.7	8.5	16	1314
BOU-DD23-185	8375N	Main	204.6	210.9	0.16	1	6.3	0.0	0.0	0.1	11	26
BOU-DD23-185	8375N	Para	244.3	244.8	0.14	46	0.5	0.0	1.1	1.6	11	182
BOU-DD23-186	8175N	Main	37.8	54.4	1.85	150	16.6	0.1	0.3	1.9	8	442
Including			45.4	48.1	6.03	381	2.7	0.2	0.5	1.7	12	1088
BOU-DD23-187	8225N	Para	62.4	62.9	0.25	102	0.5	0.0	1.1	2.2	9	285
BOU-DD23-187	8225N	Para	157.4	157.9	0.97	77	0.5	0.0	1.8	2.8	20	378
BOU-DD23-187	8225N	Para	165.2	167.2	0.23	29	2.0	0.0	0.3	0.8	6	104
BOU-DD23-187	8225N	Para	168.2	169.1	0.24	34	0.9	0.0	2.0	1.6	12	206
BOU-DD23-187	8225N	Main	183.6	193.3	1.27	33	9.7	0.0	0.2	1.9	33	271
Including			188.9	192.3	2.19	44	3.4	0.1	0.2	3.6	61	462
BOU-DD23-187	8225N	Para	195.4	196.5	0.44	16	1.1	0.0	0.3	1.4	6	146
BOU-DD23-188	8275N	Para	9.0	10.0	0.03	56	1.0	0.0	9.8	0.7	9	407
BOU-DD23-188	8275N	Para	104.3	105.0	0.14	40	0.7	0.0	0.2	0.7	4	103
BOU-DD23-188	8275N	Para	179.2	180.2	0.32	36	1.0	0.0	0.4	1.6	9	168
BOU-DD23-188	8275N	Para	185.5	186.0	7.80	162	0.5	0.3	0.3	0.7	117	978
BOU-DD23-188	8275N	Para	190.9	191.4	0.47	41	0.5	0.0	1.0	3.1	8	289
BOU-DD23-188	8275N	Para	194.7	195.3	0.42	44	0.6	0.1	0.8	2.1	7	231
BOU-DD23-188	8275N	Main	216.8	218.8	1.37	26	2.0	0.0	0.3	0.3	5	188
BOU-DD23-188	8275N	Para	238.9	239.4	0.38	50	0.5	0.0	0.9	2.2	2	237
BOU-DD23-188	8275N	Para	280.6	283.4	0.39	36	2.8	0.0	0.2	1.2	27	149
BOU-DD23-189	8175N	Para	77.5	78.4	0.37	36	0.9	0.1	0.8	2.7	13	251
BOU-DD23-189	8175N	Para	89.3	90.4	0.38	24	1.1	0.0	0.3	0.7	6	110
BOU-DD23-189	8175N	Main	92.5	97.3	4.00	126	4.8	0.1	1.5	1.4	14	642
Including			94.3	97.3	5.95	179	3.0	0.2	2.2	1.2	15	896
BOU-DD23-189	8175N	Para	100.2	101.2	0.35	20	1.0	0.0	0.0	0.1	12	61
BOU-DD23-189	8175N	Para	103.1	114.7	1.38	68	11.6	0.1	0.1	2.9	33	366
BOU-DD23-190	8375N	Para	26.7	27.6	0.18	42	0.9	0.0	1.5	2.8	26	259
BOU-DD23-190	8375N	Main	249.1	250.9	0.14	79	1.8	0.0	0.7	1.2	56	183
BOU-DD23-191	8175N	Para	122.8	123.5	0.22	37	0.7	0.0	0.3	5.1	1	343
BOU-DD23-191	8175N	Para	140.9	142.0	1.08	12	1.1	0.0	0.2	0.6	1	154
BOU-DD23-191	8175N	Main	158.5	169.5	1.61	30	11.0	0.1	0.2	3.4	12	377
Including			158.5	167.5	1.87	33	9.0	0.1	0.2	3.7	7	423
BOU-DD23-192	8225N	Para	11.4	13.8	0.22	54	2.4	0.0	0.1	0.2	1	91
BOU-DD23-192	8225N	Para	127.2	127.7	0.64	63	0.5	0.0	1.3	3.2	4	343
BOU-DD23-192	8225N	Main	226.1	230.8	1.75	41	4.7	0.1	0.2	0.4	19	241
Including			228.1	230.8	2.31	58	2.7	0.1	0.3	0.5	12	323
BOU-DD23-192	8225N	Para	338.2	339.3	14.62	1	1.1	0.0	0.0	0.0	9	1371
BOU-DD23-194	8275N	Para	76.5	77.2	2.91	632	0.7	0.1	1.2	2.0	4	1063
BOU-DD23-194	8275N	Para	200.7	201.7	9.14	84	1.0	0.4	0.2	0.4	31	1024
BOU-DD23-194	8275N	Main	240.3	240.9	0.30	35	0.6	0.2	1.2	7.1	35	513
BOU-DD23-194	8275N	Para	277.6	278.7	0.41	19	1.1	0.0	1.2	1.5	20	179
BOU-DD23-195	8175N	Para	80.4	81.3	0.41	40	0.9	0.0	0.2	0.4	1	110
BOU-DD23-195	8175N	Para	84.6	85.4	0.51	36	0.8	0.0	1.2	2.3	4	245
BOU-DD23-195	8175N	Para	175.0	175.9	0.17	40	0.9	0.0	0.9	2.6	5	227
BOU-DD23-195	8175N	Main	185.0	185.5	0.75	44	0.5	0.0	1.5	3.9	1	376
BOU-DD23-195	8175N	Para	213.7	214.6	0.57	32	0.9	0.0	0.7	1.2	7	176
BOU-DD23-196	8225N	Para	15.3	16.3	0.56	16	1.0	0.0	0.1	0.2	19	82
BOU-DD23-196	8225N	Para	37.7	38.8	0.03	52	1.1	0.0	0.3	1.1	6	128
BOU-DD23-196	8225N	Para	85.6	86.4	4.83	112	0.8	0.0	0.4	0.7	1	614
BOU-DD23-196	8225N	Para	168.3	168.8	0.61	32	0.5	0.0	0.2	5.3	24	386
BOU-DD23-196	8225N	Para	215.2	216.4	1.75	19	1.2	0.1	2.6	1.4	25	351
BOU-DD23-196	8225N	Main	253.7	254.5	0.57	43	0.8	0.0	0.3	3.2	35	282
BOU-DD23-196	8225N	Para	407.9	408.5	0.52	79	0.6	0.0	0.2	1.6	5	224
BOU-DD23-198	8675N	Para	44.5	45.0	1.85	118	0.5	0.0	1.2	2.7	1	477
BOU-DD23-198	8675N	Para	71.0	73.1	1.66	41	2.1	0.0	1.0	2.9	44	392
BOU-DD23-198	8675N	Para	185.8	196.1	2.59	63	10.3	0.2	0.2	2.1	6	451
Including			185.8	189.4	6.21	144	3.6	0.5	0.4	3.7	5	1006
BOU-DD23-198	8675N	Para	271.3	273.4	1.85	16	2.1	0.0	1.5	0.3	8	255
BOU-DD23-198	8675N	Para	310.3	311.6	1.67	139	1.3	0.0	1.0	0.3	28	345
BOU-DD23-198	8675N	Main	323.3	326.0	1.50	58	2.7	0.0	0.2	0.2	29	216
BOU-DD23-198	8675N	Para	370.2	371.2	0.22	40	1.0	0.0	0.2	0.3	2	85
BOU-DD23-198	8675N	Para	374.4	375.4	0.45	20	1.0	0.0	0.1	0.1	5	72
BOU-DD23-198	8675N	Para	378.6	381.1	2.11	48	2.5	0.0	0.9	2.5	83	415
BOU-DD23-200	8175N	Para	135.5	136.3	1.87	25	0.8	0.0	0.1	0.2	4	214
BOU-DD23-200	8175N	Main	244.3	248.5	3.47	80	4.2	0.3	0.1	1.0	19	506
Including			244.3	246.3	5.37	124	2.0	0.5	0.1	0.6	18	736
BOU-DD23-200	8175N	Para	258.0	259.0	0.67	24	1.0	0.0	0.5	3.1	11	275
BOU-DD23-200	8175N	Para	295.2	295.7	0.63	55	0.5	0.0	0.3	4.1	53	349
BOU-DD23-201	8225N	Para	94.7	95.4	0.12	47	0.7	0.0	0.4	0.8	4	116
BOU-DD23-201	8225N	Para	209.1	210.0	0.49	28	0.9	0.0	1.4	1.5	5	201
BOU-DD23-201	8225N	Para	231.7	232.4	0.42	20	0.7	0.0	0.5	1.2	9	142
BOU-DD23-201	8225N	Para	242.4	246.6	2.59	39	4.2	0.1	0.2	0.7	9	341
Including			242.4	244.0	5.06	77	1.6	0.3	0.3	0.3	8	613
BOU-DD23-201	8225N	Main	315.0	316.0	0.30	32	1.0	0.1	0.8	4.7	19	357
BOU-DD23-202	8675N	Para	95.5	96.7	1.06	48	1.2	0.0	0.5	2.2	15	286
BOU-DD23-202	8675N	Para	104.9	105.4	1.59	110	0.5	0.0	3.0	7.9	5	786
BOU-DD23-202	8675N	Para	223.1	226.0	3.61	67	2.9	0.1	0.3	2.8	18	583
BOU-DD23-202	8675N	Para	227.8	229.2	0.58	11	1.4	0.0	0.1	0.3	19	85
BOU-DD23-202	8675N	Para	239.0	239.5	2.48	42	0.5	0.1	0.5	11.3	37	909
BOU-DD23-202	8675N	Para	242.6	243.2	0.72	24	0.6	0.0	0.6	2.3	21	238
BOU-DD23-202	8675N	Para	250.8	251.3	0.43	36	0.5	0.0	1.1	3.5	3	308
BOU-DD23-202	8675N	Para	266.6	267.4	0.22	35	0.8	0.0	2.8	2.4	15	277
BOU-DD23-202	8675N	Main	349.2	355.2	4.31	129	6.0	0.1	0.6	1.4	41	645
Including			352.3	354.0	10.11	339	1.7	0.3	1.2	2.8	54	1522
BOU-DD23-202	8675N	Para	418.8	422.2	1.56	39	3.4	0.0	0.5	0.7	2	240
BOU-DD23-203	8175N	Para	100.1	101.8	0.23	59	1.7	0.0	0.9	1.5	3	191
BOU-DD23-203	8175N	Para	207.4	207.9	0.46	91	0.5	0.1	1.9	4.3	6	435
BOU-DD23-203	8175N	Para	269.5	270.0	1.06	41	0.5	0.0	0.9	2.4	4	300
BOU-DD23-203	8175N	Para	280.7	281.7	0.32	20	1.0	0.0	0.4	0.5	9	92
BOU-DD23-203	8175N	Main	282.7	285.9	2.00	55	3.2	0.1	0.1	0.2	12	269
BOU-DD23-203	8175N	Para	289.5	290.6	0.42	12	1.1	0.0	0.3	1.2	10	124
BOU-DD23-203	8175N	Para	332.2	332.7	0.41	20	0.5	0.0	0.3	4.7	9	324
BOU-DD23-203	8175N	Para	373.2	374.3	0.03	89	1.1	0.2	0.8	1.2	7	201

*	True width remains undetermined at this stage; all values are uncut.
**	Ag equivalent is based on a 100% recovery with the following ratio; 1 g/t Au: 93.4 g/t Ag; 1% Cu: 130.4 Ag; 1% Pb: 31.8 Ag; 1% Zn: 54.1 Ag.

Appendix 2 – New Drillhole Coordinates of 2023 Boumadine Exploration Program (completed holes)

DDH No.	Easting	Northing	Elevation	Azimuth	Dip	Length (m)
BOU-DD23-213	316 991	3 474 849	1 257	70	-50	600.0
BOU-DD23-214	317 026	3 477 177	1 216	250	-50	447.1
BOU-DD23-215	316 714	3 477 378	1 220	250	-50	330.1
BOU-DD23-216	317 077	3 474 268	1 258	70	-50	705.0
BOU-DD23-217	316 754	3 477 393	1 218	250	-50	363.8
BOU-DD23-218	317 101	3 477 207	1 208	250	-50	483.5
BOU-DD23-219	316 868	3 477 434	1 214	250	-50	465.4
BOU-DD23-220	317 079	3 474 775	1 274	70	-50	144.5
BOU-DD23-221	317 010	3 474 750	1 263	70	-50	369.0
BOU-DD23-222	316 483	3 477 496	1 222	250	-50	171.1
BOU-DD23-223	317 170	3 474 754	1 294	70	-50	299.4
BOU-DD23-224	317 234	3 474 537	1 283	70	-50	302.0
BOU-DD23-225	316 552	3 477 523	1 214	250	-50	206.0
BOU-DD23-226	316 626	3 477 547	1 211	250	-50	350.2
BOU-DD23-227	316 714	3 477 576	1 214	250	-50	356.1
BOU-DD23-228	317 161	3 474 514	1 273	70	-50	419.5
BOU-DD23-229	317 103	3 474 730	1 280	70	-50	332.3
BOU-DD23-230	317 046	3 474 763	1 270	70	-50	261.0
BOU-DD23-232	317 456	3 476 254	1 211	250	-50	532.1
BOU-DD23-233	317 067	3 474 717	1 274	70	-50	76.5
BOU-DD23-234	316 976	3 474 737	1 259	70	-50	501.0
BOU-DD23-235	317 036	3 474 706	1 266	70	-50	500.7
BOU-DD23-236	317 088	3 474 487	1 268	70	-50	606.2
BOU-DD23-237	317 378	3 476 226	1 209	250	-50	600.5
BOU-DD23-238	317 298	3 476 197	1 218	250	-50	510.0
BOU-DD23-239	316 937	3 474 723	1 258	70	-50	486.7
BOU-DD23-240	317 001	3 474 693	1 260	70	-50	466.4
BOU-DD23-242	317 227	3 476 171	1 228	250	-50	384.8
BOU-DD23-244	317 147	3 474 666	1 278	70	-50	236.6

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SOURCE Aya Gold & Silver Inc

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

Analyst Predict EMX Royalty has a lot of upside for shareholders

Post author By admin
Post date November 17, 2023

A respected analyst report has recently commented on the value proposition of EMX Royalty. The decision seems to have merit based on this week’s recent news announcement on the 3rd Quarter Results for 2023. A projected 12-month price point of C$5.75 was the target by the analyst. At the present EMX Royalty is trading at C$2.22. We highly regard EMX Royalty, we’ve been long-term shareholders since 2016/17. In our opinion EMX Royalty is a legacy company that you buy and pass along to your children. It’s the Goose that keeps laying the Golden Egg.

Highlights from Q3 2023 include the following:

EMX earned approximately $1,955,000 in royalty revenue from the Gediktepe Mine as production continued from the oxide gold deposit. Partner Lidya Madencilik Anayi ve Ticaret A.S. (“Lidya”) also notified EMX that it has completed an internal Feasibility Study for development of the underlying polymetallic sulfide deposit. A decision regarding financing and construction for the sulfide project is pending.
The Caserones (effective) royalty distribution for Q3 totaled approximately $1,741,000. Lundin Mining Corporation (“Lundin”), in connection with their acquisition of fifty-one percent (51%) of the issued and outstanding equity of SCM Minera Lumina Copper Chile SpA (see Lundin news release dated July 13, 2023), filed a technical report on SEDAR titled “NI 43-101 Technical Report on the Caserones Mining Operation, Atacama Region, Chile” that included current mineral resource and reserve estimates. Lundin also provided Caserones H1 production and H2 production guidance.
Leeville revenue earned by EMX totaled approximately $773,000 from royalty production that totaled 403 ounces of gold. Q3 2023 marked another strong quarter of Leeville royalty production along with robust gold prices.
EMX recognized $568,000 in royalty revenue from the Balya property in Q3 2023 which included $212,000 from Q2 production and $356,000 from Q3 production subsequently received. Production began to ramp up again in Q2 2023 with 99,185 tonnes of mineralized material produced from Balya North. Production continued to accelerate in Q3 2023, with 161,133 tonnes of mineralized material produced according to calculations provided by Esan at the end of Q3.
EMX received $134,000 from Gold Bar South for royalty revenue earned in Q1 2023 and Q2 2023, and earned royalty revenue of $59,000 from Q3 2023 production, which was subsequently received.
AbraSilver Resource Corp. (“AbraSilver”) reported final results from the Phase III drill program at the Diablillos silver-gold royalty property. Phase III drill holes will be incorporated into an updated mineral resource estimate to be included in the Diablillos PFS scheduled for completion in H2 of 2023. As part of its ongoing PFS work, AbraSilver also reported on positive results from metallurgical optimization test work conducted for the Oculto deposit.
Arizona Sonoran Copper continued to report infill drilling results from the Parks-Sayler porphyry copper royalty property. Subsequent to quarter-end, Arizona Sonoran announced updated mineral resource estimates for the Parks-Sayler deposit, which is partially covered by an EMX royalty, as well as other deposits that constitute its Cactus Project.
Exploration drilling by South32 at the Hermosa Project’s Peake prospect returned mineralized intercepts covered by EMX’s Hardshell royalty property that included the best copper intercept to date of 139 meters averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver (true width not reported).
EMX’s U.S. royalty generation portfolio progressed with 13 partner-funded work programs consisting of five drill programs, the expansion of properties through the staking of new claims, and the permitting of key projects in preparation for three additional drill programs to be conducted in Q4 2023 and early 2024. EMX has 39 projects in partnership in the western U.S and received various option, AAR, and management fee payments during the quarter.
Scout Discoveries Corp. (“Scout”) (a private Idaho company) and EMX closed on an amended transaction, originally announced in Q1 2023 (see EMX news release dated March 8, 2023) for the sale of EMX’s Erickson Ridge, South Orogrande, Lehman Butte, and Jackknife precious and base metal projects to Scout.
In Canada, EMX executed two new agreements to partner the Jean Lake property to Canada Nickel Company, and the Ear Falls property to Beyond Lithium. EMX and its partners conducted summer field programs to continue advancing the properties in the portfolio. EMX received $104,000 in cash payments during the quarter from partnered projects.
In Chile, Pampa Metals announced assay results from its initial three hole drill program totaling 1,957 meters at the Buena Vista target on the Block 4 property. Anomalous copper, molybdenum and precious metals were intercepted, indicative of shallow levels of a porphyry system. Elsewhere within the portfolio, EMX was notified by Pampa Metals that it was abandoning the Arrieros, Redondo-Veronica, Cerro Blanco, Cerro Buena Aries, and Block 3 properties, resulting in EMX gaining 100% control of each property. These properties are now available for partnership.
In Northern Europe the Company continued to develop and advance its portfolio of projects, with summer field programs continuing on numerous properties in Q3 2023. EMX has 37 projects in partnership with other companies in Northern Europe. New partnerships were established for the Bamble and Flåt battery metals projects in Norway (Londo Nickel plc) and the Njuggträskliden and Mjövattnet battery metals projects in Sweden (Kendrick Resources plc).
The Company optioned the Copperhole Creek project in Queensland, Australia to Lumira Energy LTD, a private Australian company. The agreement provides EMX with a 2.5% NSR royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with the transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) by mid-year 2024.
Also in Q3 2023 in Australia, partner companies executed drill programs comprising over 5,000 meters on three EMX royalty properties (Yarrol, Mt Steadman and Koonenberry) and field programs continued to advance the Queensland Gold and Copperhole Creek projects.
Royalty generation programs continued in the Balkans and in Morocco in Q3 2023, where multiple exploration license applications have been filed by the Company. Surface sampling programs commenced on several new exploration licenses awarded to EMX in Morocco targeting a variety of styles of mineralization. EMX also continued to assess projects and opportunities in the Balkans.

Investment Updates

As at September 30, 2023, the Company had marketable securities of $6,830,000 (December 31, 2022 – $9,966,000), and $5,313,000 (December 31, 2022 – $4,591,000) in private investments. The Company will continue to generate cash flow by selling certain of its investments when appropriate.

OUTLOOK

The 2023 year will continue to see revenue and other income coming from our cash flowing royalties, including Leeville and Gold Bar South in Nevada, Gediktepe and Balya in Turkey, and Timok in Serbia, and our effective royalty interest on Caserones in Chile. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global asset portfolio.

The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of our long-term debt, continuing to evaluate equity markets, and the ongoing monetization of the Company’s marketable securities.

EMX is well positioned to identify and pursue new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.

Marketing Consulting Services

The Company is also pleased to announce that it has entered into an agreement with LFG Equities Corp. (“LFG”), an independent contractor with a business address at 402-9140 Leslie St., Richmond Hill, ON, L4B 0A9. Commencing on September 10^th, 2023 for an initial term of six months, under the terms of the Agreement, LFG will provide marketing consulting services to the Company to communicate to the financial community information about EMX by way of newsletters and be paid US$50,000 plus applicable taxes.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

¹Adjusted revenue and other income and adjusted cash provided by operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section on page 24 of the Q3-2023 MD&A for more information on each non-IFRS financial measure.

Be sure to perform your due diligence, we are biased.

Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Third Quarter 2023 Results

Post author By admin
Post date November 13, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 13, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to report results for the quarter ended September 30, 2023 (“Q3-2023”). The Company’s filings for the quarter are available on SEDAR at www.sedarplus.ca, on the U.S. Securities and Exchange Commission’s website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

HIGHLIGHTS FOR Q3-2023

Financial Updates for the Three Months Ended September 30, 2023

Revenue and other income for the three months ended September 30, 2023 (“Q3 2023”) was $12,925,000 (2022 – $7,206,000). Adjusted revenue and other income¹ of $14,526,000 (2022 – $9,319,000) included $1,601,000 (2022 – $2,113,000) in revenue for the Company’s share of royalty revenue from the Caserones Mine (effective) royalty interest in Chile.
Net income for the three months ended September 30, 2023 was $2,443,000 (2022 – loss of $12,878,000).
Cash provided by operating activities for the three months ended September 30, 2023 was $7,527,000 (2022 – $846,000). Adjusted cash¹ provided by operating activities for the three months ended September 30, 2023 was $9,268,000 (2022 – $2,719,000).
As at September 30, 2023, EMX had cash of $21,587,000 (December 31, 2022 – $15,508,000), investments, long-term investments and loans receivable valued at $12,739,000 (December 31, 2022 – $14,561,000) and loans payable of $41,927,000 (December 31, 2022 – $40,489,000).

Corporate Updates

Execution of Updated Timok Royalty Agreement

EMX executed an amended and restated royalty agreement on September 1, 2023 for its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin have agreed that the Timok royalty will consist of a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced. The royalty covers Zijin’s Brestovac exploration permit area (including the Cukaru Peki Mining licenses), as well as portions of Zijin’s Jasikovo-Durlan Potak exploration license north of the currently active Bor Mine license (see EMX news release dated September 5, 2023). Cukaru Peki represents one of the premier copper and gold discoveries in the world in the past 10 years and is a top tier royalty asset for EMX.

Subsequent to the execution of the amended and restated royalty agreement, EMX received $6,676,000 in royalty proceeds from its Timok royalty property with Zijin which included $1,590,000 from 2021, $3,200,000 from 2022, and $1,890,000 up to June 30, 2023 (see EMX news release dated September 12, 2023). From that point forward EMX will continue to receive quarterly production royalty payments on an ongoing basis.

Execution of Acquisition Agreement for New Royalties with Franco-Nevada

EMX executed a binding term sheet with Franco-Nevada Corporation (“Franco-Nevada”) for the joint acquisition of newly created precious metals and copper royalties sourced by EMX (see EMX news release dated August 1, 2023). Franco-Nevada will contribute 55% (up to $5,500,000) and EMX will contribute 45% (up to $4,500,000) towards the royalty acquisitions, with the resulting royalty interests equally split (i.e. 50/50). The initial term is for three years, or until the maximum contributions totaling $10,000,000 from both companies have been met, and may be extended if mutually agreed by both companies. The agreement allows EMX to direct a large amount of capital towards the royalty generation aspect of its business model, and Franco-Nevada to participate in exploration stage royalty financing opportunities identified by EMX.

Royalty Acquisition and Royalty Generation Updates

During Q3 2023, the Company’s royalty business was active in North America, South America, Europe, Turkey, Australia and Morocco. The Company spent $4,769,000 (2022 – $5,269,000) on royalty acquisition and generation costs and recovered $1,140,000 (2022 – $3,247,000) from partners. Royalty acquisition and generation costs include exploration related activities, technical services, project marketing, land and legal costs, as well as third party due diligence for acquisitions. Included in revenue and other income was $1,409,000 in option, advance royalty, and other pre-production payments related to existing partnered projects as a result of royalty generation activities. The Company also completed seven new property agreements across the portfolio, including two in Canada, two in Norway, two in Sweden and one in Australia, while continuing to replace partnered properties with new royalty generation projects.

Producing Royalties	6
Advanced Royalties	11
Exploration Royalties	149
Royalty Generation Properties	120

Figure 1. EMX’s royalty and mineral property portfolio

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/187260_emxmap1.jpg

Highlights from Q3 2023 include the following:

EMX earned approximately $1,955,000 in royalty revenue from the Gediktepe Mine as production continued from the oxide gold deposit. Partner Lidya Madencilik Anayi ve Ticaret A.S. (“Lidya”) also notified EMX that it has completed an internal Feasibility Study for development of the underlying polymetallic sulfide deposit. A decision regarding financing and construction for the sulfide project is pending.
The Caserones (effective) royalty distribution for Q3 totaled approximately $1,741,000. Lundin Mining Corporation (“Lundin”), in connection with their acquisition of fifty-one percent (51%) of the issued and outstanding equity of SCM Minera Lumina Copper Chile SpA (see Lundin news release dated July 13, 2023), filed a technical report on SEDAR titled “NI 43-101 Technical Report on the Caserones Mining Operation, Atacama Region, Chile” that included current mineral resource and reserve estimates. Lundin also provided Caserones H1 production and H2 production guidance.
Leeville revenue earned by EMX totaled approximately $773,000 from royalty production that totaled 403 ounces of gold. Q3 2023 marked another strong quarter of Leeville royalty production along with robust gold prices.
EMX recognized $568,000 in royalty revenue from the Balya property in Q3 2023 which included $212,000 from Q2 production and $356,000 from Q3 production subsequently received. Production began to ramp up again in Q2 2023 with 99,185 tonnes of mineralized material produced from Balya North. Production continued to accelerate in Q3 2023, with 161,133 tonnes of mineralized material produced according to calculations provided by Esan at the end of Q3.
EMX received $134,000 from Gold Bar South for royalty revenue earned in Q1 2023 and Q2 2023, and earned royalty revenue of $59,000 from Q3 2023 production, which was subsequently received.
AbraSilver Resource Corp. (“AbraSilver”) reported final results from the Phase III drill program at the Diablillos silver-gold royalty property. Phase III drill holes will be incorporated into an updated mineral resource estimate to be included in the Diablillos PFS scheduled for completion in H2 of 2023. As part of its ongoing PFS work, AbraSilver also reported on positive results from metallurgical optimization test work conducted for the Oculto deposit.
Arizona Sonoran Copper continued to report infill drilling results from the Parks-Sayler porphyry copper royalty property. Subsequent to quarter-end, Arizona Sonoran announced updated mineral resource estimates for the Parks-Sayler deposit, which is partially covered by an EMX royalty, as well as other deposits that constitute its Cactus Project.
Exploration drilling by South32 at the Hermosa Project’s Peake prospect returned mineralized intercepts covered by EMX’s Hardshell royalty property that included the best copper intercept to date of 139 meters averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver (true width not reported).
EMX’s U.S. royalty generation portfolio progressed with 13 partner-funded work programs consisting of five drill programs, the expansion of properties through the staking of new claims, and the permitting of key projects in preparation for three additional drill programs to be conducted in Q4 2023 and early 2024. EMX has 39 projects in partnership in the western U.S and received various option, AAR, and management fee payments during the quarter.
Scout Discoveries Corp. (“Scout”) (a private Idaho company) and EMX closed on an amended transaction, originally announced in Q1 2023 (see EMX news release dated March 8, 2023) for the sale of EMX’s Erickson Ridge, South Orogrande, Lehman Butte, and Jackknife precious and base metal projects to Scout.
In Canada, EMX executed two new agreements to partner the Jean Lake property to Canada Nickel Company, and the Ear Falls property to Beyond Lithium. EMX and its partners conducted summer field programs to continue advancing the properties in the portfolio. EMX received $104,000 in cash payments during the quarter from partnered projects.
In Chile, Pampa Metals announced assay results from its initial three hole drill program totaling 1,957 meters at the Buena Vista target on the Block 4 property. Anomalous copper, molybdenum and precious metals were intercepted, indicative of shallow levels of a porphyry system. Elsewhere within the portfolio, EMX was notified by Pampa Metals that it was abandoning the Arrieros, Redondo-Veronica, Cerro Blanco, Cerro Buena Aries, and Block 3 properties, resulting in EMX gaining 100% control of each property. These properties are now available for partnership.
In Northern Europe the Company continued to develop and advance its portfolio of projects, with summer field programs continuing on numerous properties in Q3 2023. EMX has 37 projects in partnership with other companies in Northern Europe. New partnerships were established for the Bamble and Flåt battery metals projects in Norway (Londo Nickel plc) and the Njuggträskliden and Mjövattnet battery metals projects in Sweden (Kendrick Resources plc).
The Company optioned the Copperhole Creek project in Queensland, Australia to Lumira Energy LTD, a private Australian company. The agreement provides EMX with a 2.5% NSR royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with the transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) by mid-year 2024.
Also in Q3 2023 in Australia, partner companies executed drill programs comprising over 5,000 meters on three EMX royalty properties (Yarrol, Mt Steadman and Koonenberry) and field programs continued to advance the Queensland Gold and Copperhole Creek projects.
Royalty generation programs continued in the Balkans and in Morocco in Q3 2023, where multiple exploration license applications have been filed by the Company. Surface sampling programs commenced on several new exploration licenses awarded to EMX in Morocco targeting a variety of styles of mineralization. EMX also continued to assess projects and opportunities in the Balkans.

Investment Updates

OUTLOOK

Marketing Consulting Services

QUALIFIED PERSONS

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Forward-Looking Statements

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187260

Base Metals Dolly Varden Silver Energy Junior Mining Precious Metals

3 Take-Aways from Dolly Varden Silver’s (DV.V) latest drill results

Post author By admin
Post date November 10, 2023

Original Source: https://globalstocksnews.com/3-take-aways-from-dolly-varden-silvers-dv-v-latest-drill-results/

On November 6, 2023 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) released drill results from the Wolf Vein and – 1.5 kilometers to the north – the Moose Vein.

DV Silver is developing its 100% held Kitsault Valley Project located in The Golden Triangle of British Columbia, Canada, 25kms by road to tide water.

“The Golden Triangle is so named because it hosts some of the richest gold ore bodies in the world, as well as abundant silver, nickel and copper deposits,” confirms BC Business. It has 1.2 billion ounces silver estimated reserves, with 214 million proven and probable.

Three Take-aways from the November 6, 2023 drill results:

1. High grade silver continues at depth
2. Discovery of significant quantities of base metals
3. Moose Vein demonstrating similar metallic profile to Wolf Vein

Wolf Vein Highlights:

DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters, including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter from an 81-meter step-out.

DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over 18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09% Zn) over 0.50 meters.

Moose Vein highlights:

DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length interval averaging 269 g/t Ag

¹AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn, assays are uncut

“The results we are seeing from the Wolf Vein continue to demonstrate depth continuity of the high-grade silver mineralization as well as an increase in base metal content,” stated Shawn Khunkhun, President and CEO of Dolly Varden Silver. “Drill hole DV23-375 has extended the plunge length to over 950 meters with increased thickness of the potentially underground bulk-mineable mineralization and it remains wide open for expansion. With over 70 drill holes remaining to be assayed and announced we eagerly await their results.”

When Dolly Varden purchased the Homestake Ridge Property from Fury, the primary objective was to consolidate assets, add size and scale. But Khunkhun and the DV Silver geological team are also exploring a hunch that two metallic zones are connected. DV needed to control both assets to meaningfully explore the hunch.

“What is special about the November 6, 2023 drill results is that these are big intercepts,” Khunkhun told Guy Bennett, the CEO of Global Stocks News (GSN). “We’re talking about an almost 27-meter intercept, grading at 461 g/t of silver equivalent.”

This is the first time during Khunkhun’s tenor as CEO, that DV has reported silver equivalencies.

“Along with 296 grams of silver, we have a significant lead and zinc kicker,” confirmed Khunkhun. “As we go deeper, this base metal zone may continue to add value to the deposit. We believe the Wolf Vein is potentially amenable to underground bulk mining.”

Bulk mining generally has lower mining costs associated with it, allowing for a lower cut off grade bringing in more material, increasing the tonnage per day and number of ounces mined.

“Some of these old, narrow vein deposits don’t work in the modern era,” Khunkhun told GSN. “You don’t want to be chasing narrow veins, hand sorting material. Our goal is that Dolly Varden Silver will be an efficient, highly mechanized mine with a low All-In-Sustaining-Cost (AISC).”

“We’ve already have a kilometer of plunge length at Wolf,” Khunkhun continued. “When we step out, we get solid hits like this. Why did Hecla put in $10 million last week? I suspect they are seeing the same potential we see at Wolf. Hecla’s goal is to increase silver production in Canada.”

About 47% of DV Silver is owned by institutional investors (Fury – 22%; Hecla 15%; Eric Sprott – 9%).

“I audition the institutional shareholders,” KhunKhun explained to GSN. “We have various entities throwing money at us at higher prices. It’s tempting to take the money. But I don’t want some hedge fund spontaneously deciding to rotate out of silver into uranium. It’s valuable to have stakeholders who share our long-term vision – like Hecla, Fury and Sprott.”

On November 6, 2023, Maurice Jackson, Founder and CEO of Proven & Probable conducted an interview with Mr. Khunkhun. Proven & Probable specialises in simplifying geological data. DV Silver sponsors the website, and Mr. Jackson is a long-term shareholder in DV Silver.

“We are very happy to welcome Hecla’s increased ownership stake,” Khunkhun told Mr. Jackson, “Hecla has demonstrated it is a sticky shareholder. They’re looking for the end product. The $10 million strategic investment raised their stake from 10% to about 15%. We’re happy to leverage their financial and technical contributions.”

A total of 51,454 meters was completed during 2023 in 115 drill holes at the Dolly Varden and Homestake Ridge areas with 23,923 of those from the Dolly Varden Project area.

The Contractor’s drills have been demobilized and the exploration camp has been winterized. The November 6, 2023 release includes eight holes from Wolf and four holes from Moose. A total of 31 holes for 15,860 meters were drilled at Wolf in 2023.

Contact: guy.bennett@globalstocksnews.com

Full Disclaimer

Base Metals Emx Royalty Energy Junior Mining

EMX Receives Q3 Royalty Payment from Esan

Post author By admin
Post date November 9, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 9, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of US$356,718 in Q3 royalty proceeds from its Balya North royalty property in Türkiye, which is operated by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”), a private Turkish company. EMX holds an uncapped 4% net smelter return (“NSR”) royalty on metals production from Balya North, a newly commissioned lead-zinc-silver mine in the Balya Mining District of northwestern Türkiye. The Q3 royalty payment is markedly higher than any previous payment and reflects another quarter of accelerating production at Balya North (see Figure 1).

The Q3 royalty payment was based upon the processing of 161,133 tonnes of mineralized material from Balya North, averaging 1.63% lead, 1.24% zinc and 51 grams per tonne of silver. Production continues to ramp up at Balya North after EMX received its initial royalty payments from the Balya North Mine in September 2022 (see EMX news release dated September 15, 2022).

Balya North Lead-Zinc-Silver Deposit: The Balya North lead-zinc-silver deposit is situated in the historic Balya mining district of northwestern Turkey. Mining at Balya has taken place since antiquity, with several generations of historical operations. The Balya North property contains extensive zones of shear-zone hosted and carbonate replacement style (“CRD”) lead-zinc-silver mineralization developed in and around a series of dacite intrusions emplaced into a limestone-rich sedimentary sequence.

Esan acquired the EMX royalty property at the end of 2019 (See EMX news release dated January 7, 2020) and is a private Turkish company that operates nearly 40 mines and eight processing plants. Esan also operates a lead-zinc mine (“Balya Main”) and flotation mill on the property immediately adjacent to EMX’s Balya North royalty property. The mineralization at Balya North is effectively an extension of the mineralization currently being mined by Esan in the Balya Main deposit.

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@emxroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2023 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2022, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

Figure 1: Royalty payments and production from Balya North Mine by quarter

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/186699_c3594d2954cb691c_002full.jpg

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186699

Blog Breaking Junior Mining

Top 10 mining podcasts to follow in 2023

Post author By admin
Post date November 8, 2023

Original Source: https://miningdigital.com/top10/Top-10-mining-podcasts-to-follow-in-2023?utm_id=LinkedIn+Newsletter+

For those wanting to learn more about mining and exploration from experts all across the field.

10. Behind the Scenes with Bryan

This podcast typically centres around the field of engineering and frequently explores topics related to mining, with a particular focus on issues such as mining waste management, geoscience, data management, and touches on ESG aspects such as women in mining.

The host, Bryan Ulrich, has over thirty years of experience in the field of engineering, project management, design, construction, analysis, and site investigation related to mining work, and has worked on a multitude of plant-site projects throughout his career.

9. Deep Insights with Mining Review Africa

Hosted by Laura Cornish, the editor-in-chief of Mining Review Africa, the podcast features interviews with industry experts, mining executives, and other key stakeholders who discuss a range of topics related to the African mining industry.

Reaching an audience of over 50 000 influential mining authorities and key decision makers through a variety of channels, the podcast talks about everything from sustainable development across the mining sector in Africa through articles on project developments and the technology and financial models that drive them.

The podcast has an audience over 50,000 key stakeholders in the industry

8. Mining Minds

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Base Metals Dolly Varden Silver Exclusive Interviews Junior Mining Precious Metals

$$$ Mining Bonanza: Dolly Varden Silver Strikes 461 G/T Silver Eq Jackpot!

Post author By admin
Post date November 6, 2023

In this conversation we sit down Shawn Khunkhun the CEO of Dolly Varden Silver which has just announced another impressive discovery, this time on a step-out drill on the high-grade Wolf Vein Deposit, which is one of seven high-grade deposits on the Kitsault Valley Project, located in the prolific ‘Golden Triangle’ in British Columbia. Equally important, viewers will note that Hecla Mining has just increased their strategic position in Dolly Varden Silver with a $10,000,000 investment, which was consummated last week. Find out the details right here!

Tags #JuniorMining, #PreciousMetals, #ProvenAndProbable, CanadianSilverStocks, DollyVardenSilver, Hecla Mining, HomestakeRidge, MauriceJackson, ShawnKhunkhun, silverstocks

Base Metals Energy Junior Mining

Securing Nickel for the Future

Post author By admin
Post date November 6, 2023

Learn More Here: THE NICKEL INSTITUTE

Dolly Varden Silver Junior Mining Precious Metals

Dolly Varden Silver Intersects 461 g/t AgEq(1) over 26.99m, incl. 2,260 g/t AgEq(1) over 0.5m in 81 Meter Step-Out at Wolf

Post author By admin
Post date November 6, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 6, 2023) – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from the Wolf Vein. Drill hole DV23-375, an 81 meter step-out from mineralization encountered in 2022 and 50 meters below DV23-268 (Sept. 11, 2023 news release) that intersected a wide breccia vein zone. In addition, initial drilling at the Moose Vein, 1.5 kilometers North of Wolf, intersected silver mineralized veining similar to the system at Wolf.

Highlights from the Wolf Vein drilling include:

DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters, including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter from an 81 meter step-out
DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over 18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09% Zn) over 0.50 meters

Highlights from initial drilling at the Moose Vein, located 1.5 kilometers from Wolf Vein within the 5.4 kilometer long belt of silver mineralization **:

DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length interval averaging 269 g/t Ag

¹AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn, assays are uncut

Reported intervals are drill core length; true widths vary from 50 to 85% of core length interval. The dip of the Wolf Vein at depth, and the Moose Vein have insufficient data to define accurate dip (tables 1 and 2).

“The results we are seeing from the Wolf Vein continue to demonstrate depth continuity of the high-grade silver mineralization as well as an increase in base metal content,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver. “Drill hole DV23-375 has extended the plunge length to over 950 meters with increased thickness of the potentially underground bulk-mineable mineralization and it remains wide open for expansion. With over 70 drill holes remaining to be assayed and announced we eagerly await their results.”

A total of 51,454 meters was completed during 2023 in 115 drill holes at the Dolly Varden and Homestake Ridge areas with 23,923 of those from the Dolly Varden Project area. The Contractor’s drills have been demobilized and the exploration camp has been winterized. This release includes eight holes from Wolf and four holes from Moose. A total of 31 holes for 15,860 meters were drilled at Wolf in 2023.

Figure 1. Location of Wolf and Moose Veins as well as significant Silver and Gold Deposits of Dolly Varden’s Kitsault Valley Trend. Suggested 1.5km periodicity of cross-valley silver bearing veins

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_002full.jpg

Holes DV23-375 is an 81m step-out down plunge from drill hole DV22-320, that intersected 321g/t Ag over 12.85 meters (see Feb. 6, 2023 news release) and 50 meters below DV23-268 that intersected 381 g/t Ag over 29.34 meters (see Sept. 11, 2023 news release). Wolf Vein mineralization has consistent, high-grade silver mineralization within a wide multi phase vein breccia within a northeast-southwest oriented epithermal vein system. The mineralization and alteration encountered at the Wolf Vein system is becoming wider in the southwest step-outs and the dip of the system is steepening at depth.

Drill hole DV23-379 intersected silver mineralization 25 meters above DV22-320 and was planned infill between DV22-320 and DV23-368; this hole did not deviate as much as other holes typically do and thus intersected the Wolf Vein closer to DV23-320 than planned.

Initial holes at Wolf during the 2023 drill program tested between the widely spaced holes completed the previous season and successfully intersected the vein structure both within and peripheral to the southwest plunge of the high-grade silver mineralization. Drilling at Wolf during the 2023 program consisted of infill and testing for extensions to the high-grade silver mineralization.

Drill holes DV23-366, 367 and 370 are located on the northeast extension of the Wolf structure and encountered strong potassic alteration and narrow vein stockwork with anomalous lead and zinc associated with the extension of the Wolf structure.

Drill holes DV23-364 and 366 tested the limits outside of the wider and higher-grade silver shoot and encountered the Wolf structure with minor veining and strong alteration.

Figure 2. Wolf Vein Longitudinal section with plunge of high-grade silver mineralization and DV23-375 step-out,
assays received in this release shown in bold white

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_003full.jpg

Figure 3. Drill hole DV23-375 (743.00m to 768.25m) from the Wolf Vein hanging wall side; wide, multi-phase breccia vein style mineralization with argentiferous galena, argentite and native silver

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_004full.jpg

Figure 4. Wolf Vein Plan View showing Drill Hole locations, A-A’ long section position, bold white this release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_005full.jpg

Figure 3. Drill hole DV23-371 (141.75m) Moose Vein textures similar to Wolf Vein with silver sulfosalts and argentiferous galena in bands

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_006full.jpg

Table 1. Complete Drill Hole Assays from Wolf Vein

Hole ID	From	To	Length* (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (ppm)	AgEq** (g/t)
DV23-379	719.89	738.10	18.21	247	0.40	0.73		287
Hanging Wall	719.89	728.67	8.78	430	0.39	0.46		459
including	724.30	724.80	0.5	1125	0.14	1.09		1170
Foot wall	729.17	738.10	8.93	78	0.44	1.03		131
DV23-376	784.50	857.85	73.35	10	0.50	0.52		45
stkwrk	784.50	845.12	60.62	5	0.28	0.57		35
including	825.73	826.75	1.02	72	7.13	1.36		344
Hanging Wall	845.12	852.60	7.48	34	2.47	1.02		149
Foot Wall	852.60	857.85	5.25	31	0.20	0.35		50
DV23-375	747.16	774.15	26.99	296	1.68	3.01		461
Hanging Wall	747.16	757.90	10.74	371	2.82	4.99		647
including	751.80	752.30	0.5	1475	10.65	12.00		2260
Foot Wall	765.75	774.15	8.4	328	1.38	1.96		445
DV23-370	52.67	53.17	0.5	102	0.41	0.06		117
and	168.21	168.71	0.5	48	0.48	1.20		108
DV23-369	478.80	480.00	1.2	9	1.31	1.10		91
and	512.63	513.13	0.5	21	0.14	4.85		209
DV23-367	68.75	69.30	0.55	119	0.12	0.08		126
and	132.15	132.75	0.6	2	0.06	0.08	1.83	158
DV23-366	107.85	108.35	0.5	67	1.30	0.05		110
and	140.00	140.77	0.77	281	0.48	0.08		299
and	207.75	208.55	0.8	32	1.67	0.40		99
DV23-364	263.61	289.33	25.72	7	0.37	0.22		27
including	268.30	268.81	0.51	33	1.93	0.82		123
including	269.70	270.56	0.86	21	3.46	0.87		161

Table 2. Complete Drill Hole Assays from Moose Vein

Hole ID	From	To	Length* (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (ppm)	AgEq** (g/t)
DV23-371	140.15	147.70	7.55	269	0.38	0.13		285
including	144.00	145.00	1	712	0.29	0.19		728
and	168.30	171.50	3.2	42	1.86	0.72		127
DV23-372	132.63	137.25	4.62	14	0.57	0.28		42
including	133.30	134.50	1.2	24	1.76	0.94		114
DV23-373	73.90	74.66	0.76	27	1.64	1.10		120
	90.00	94.08	4.08	19	0.56	0.41		52
DV23-374	30.60	32.35	1.75	39	0.93	1.17		112

* Intervals given are drill core length, true widths vary from 50 to 85% of core length interval. Assays reported are uncut.
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 3. Drill Hole Collars for 2023 Dolly Varden Wolf and Moose Area Drilling (this release)

Hole ID	Easting	Northing	Elev.	Azimuth	Dip	Length
Hole ID	UTM83 (m)	UTM83 (m)	(m)	Azimuth	Dip	(m)
DV23-364	467227	6173773	385	140	-60	474
DV23-366	467283	6173984	517	115	-45	225
DV23-367	467351	6173891	496	120	-45	250
DV23-369	467013	6173643	383	130	-61	675
DV23-370	467278	6173906	448	120	-45	213
DV23-371	467141	6174889	750	170	-55	181
DV23-372	467141	6174889	750	198	-60	240
DV23-373	467283	6174746	726	320	-45	151
DV23-374	467283	6174746	726	30	-45	133
DV23-375	466780	6173610	481	130	-56	846
DV23-376	466780	6173610	481	128	-60	888
DV23-379	466815	6173693	446	136	-56	849

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program for Dolly Varden on the Kitsault Valley Project.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

Forward-Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedarplus.ca. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186352

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