The market for critical minerals used in electric vehicles, solar panels and wind turbines has doubled over the past five years, reaching $320-billion in 2022, and is expected to continue to growth strongly amid record deployments of clean energy technologies such as solar and batteries.
The International Energy Agency’s (IEA’s) inaugural ‘Critical Minerals Market Review’ shows that, from 2017 to 2022, the energy sector has been the main factor behind a tripling in overall demand for lithium, as well as the 70% jump in demand for cobalt and the 40% rise in nickel demand.
“As a result, energy transition minerals, which used to be a small segment of the market, are now moving to centre stage in the mining and metals industry,” the report states.
The market has responded, with investment in critical mineral development rising 30% last year, led by lithium with a 50% jump in investments.
Likewise, exploration spending rose by 20% in 2022, again driven by record growth in lithium exploration, particularly in Canada and Australia where year-on-year growth of 40% was recorded.
After a surge in 2021 and 2022, the IEA says many critical mineral prices started to moderate in 2023, albeit while remaining above their historical averages.
Nevertheless, IEA executive director Fatih Birol warns that far more needs to be done to ensure supply chains for critical minerals, such as lithium, cobalt, nickel and copper as well as platinum, manganese and various rare-earth minerals, are secure and sustainable.
There is also a need, the report argues, to diversify the sources of supply away from their current concentration in a handful of countries, with the Democratic Republic of Congo dominating cobalt supply, China holding half of planned lithium chemical plants and Indonesia representing nearly 90% of planned nickel refining facilities.
The report also cautions that any project delays and technology-specific shortfalls could undermine both the pace and cost of the transition to those energy technologies needed by 2030 to limit global warming to 1.5 °C.
The IEA, which began analysing the role of critical minerals in the energy transition in 2021 and subsequently received a mandate from its member governments to track developments, has also launched an interactive online tool to improve visibility of market dynamics.
The IEA Critical Minerals Data Explorer currently provides users with access to the agency’s demand projections under various scenarios and technology trends and supply-side information will be added in future updates.
The IEA is also preparing to host an international critical minerals summit in Paris, France, on September 28.
VANCOUVER, BC / ACCESSWIRE / July 11, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce the start of the 2023 exploration and drill campaign at the La Plata copper-silver-gold-PGE project, located in southwest Colorado.
In May 2023, Newcrest Mining Limited completed a 9.5% strategic equity investment into Metallic Minerals with the goal of accelerating advancement of the La Plata porphyry project. This funding will support a two-phase drill campaign in 2023 that will build on the success from work in 2022. The initial phase is expected to consist of approximately 5,000 meters of diamond core drilling, primarily focused on resource expansion at the Allard porphyry deposit.
A top priority for the program will be to conduct step-out drilling from the major discovery in drill hole 22-04 which intersected 816 meters of 0.41% Cu Eq (0.30% Cu, 2.47 g/t Ag, 0.038 g/t Au, 0.055 g/t Pd and 0.093 g/t Pd) from surface and ended in 5.39% CuEq over 5.2 m (2.44% Cu, 18.7 g/t Ag, 5.0 g/t Au+PGE). Hole 22-04 did not reach target depth and ended in mineralization due to mechanical issues. Drilling in 2023 will test the lower limits of mineralization and some holes are scheduled for as deep as 1,200 meters.
Scott Petsel, Metallic Minerals’ President, stated, “We see a real opportunity for world class scale and grade at La Plata and have confidence in our ability to quickly grow the existing resources. Hole 22-04 was not only the widest and highest-grade drill hole ever drilled on the project, it was also one of the top holes drilled in the last several years at any copper project in North America. We also expect to be able to increase the overall grade of the resource moving forward as we include precious metals credits previously not accounted for. Our exploration work over the past two years has defined 16 additional untested porphyry targets across the greater property, which appear to have very similar characteristics to the Allard deposit and could result in additional new discoveries. The drill is currently mobilizing to site.”
The Allard deposit remains open to significant expansion within the resource area to the east, north and west and to depth, with the potential to add gold, platinum and palladium to the current copper and silver resource with the completion of additional exploration drilling. In addition, the larger porphyry system at the La Plata project, which covers an area of over 10 km2, remains underexplored with the potential for new discoveries of both additional copper porphyry centers, as well as high-grade epithermal silver and gold systems.
Yukon Mining Alliance 2023 Property Tours
Metallic Minerals will be participating in the Yukon Mining Alliance Property Tours and Investment Conference in Dawson City on July 19th. Select tour participants will visit Metallic’s Australia Creek alluvial gold royalty property in the Klondike Gold District, currently under lease to Parker Schnabel’s Little Flake Mining as seen on Discovery Channel’s Gold Rush television program. More information whereabout the YMA Property Tours and Conference can be found here. For more information about Metallic’s lease agreement with Little Flake Mining, click here.
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 our projects toward development.
In 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited for the continued advancement of the Company’s La Plata project in southwestern Colorado. The inaugural NI 43-101 mineral resource estimate, announced in 2022, identified a significant porphyry copper-silver resource containing 889 Mlbs copper and 15 Moz of silver and an updated estimate is currently being finalized. Notably, Colorado was recently ranked 5th globally for investment attractiveness and 2nd in the USA In the 2023 Fraser Institute’s Annual Survey of Mining Companies.
In Canada’s Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining’s operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco Resources and their Keno Hill operations in September 2022. Hecla is targeting to start production at the Keno Hill operations by Q3 2023. Metallic Minerals is anticipating the announcement of inaugural mineral resource estimate at Keno Silver in the second half of 2023.
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 hit television show, Gold Rush, on the Discovery Channel.
All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success, 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.
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, unsuccessrul 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.
Vancouver, British Columbia–(Newsfile Corp. – July 10, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), announces a change in its financial year-end from March 31 to December 31. The change in financial year-end has been made to align the timing of the Company’s financial reporting obligations with its internal budgeting and forecasting process and with its peers. The next financial year-end of the Company for its transition year will occur on December 31, 2023.
Further details regarding the change in financial year-end is available in the Company’s notice of change in year-end prepared in accordance with Section 4.8 of National Instrument 51-102 Continuous Disclosure Obligations and filed under the Company’s SEDAR profile at www.sedar.com.
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. Wesdome is currently a large shareholder of Goldshore, and the company is 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.
This news release contains statements that constitute “forward-looking statements”. 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, 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; and the impact of COVID-19.
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.
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VANCOUVER, British Columbia, July 10, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce the appointment of a new advisor to the Company’s advisory board.
Judson Culter, CEO at Rover Metals, states “The expansion of Rover Metals into Australia is part of our strategic growth plans for H2-2023. Australians are world leaders in the mining of lithium. For example, companies like ASX listed Ioneer, are leading the way in softrock/claystone lithium mining in southwest Nevada. The Company will continue to look to expand its Australian team in the coming months. The appointment of Paddy Moylan to our team is part of these expansion plans.”
Paddy Moylan, Australia Business Development Advisor
Paddy Moylan holds combined bachelor of commerce and law degrees. He practiced law for over 20 years. Now retired from law, he is a significant and full-time investor in battery metals in Australia and internationally. Mr. Moylan has developed a large network in the battery metals space as an early investor in lithium. He has successfully advised companies on project acquisition, development and divestment.
In Mr. Moylan’s own words, “I only become involved in approximately 1 in 1,000 companies that come across my desk via research, links or corporate conferences. I am very impressed with Rover Metals, led by Judson. The globe has an insatiable yet unsatisfied demand for lithium, it strikes me that Rover’s LGL project in Nevada is in a special position to meet the global demand for lithium. I look forward to my involvement with Rover!”
Pursuant to Mr. Moylan’s advisory agreement, he has been awarded 350,000 incentive stock options in the with an exercise price of $0.10 per option, under the standard terms of the Company’s stock option plan (4-year life).
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a reverse circulation drill program at its Let’s Go Lithium project.
You can follow Rover on its social media channels:
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2855
Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry 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. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
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Email: info@grouptenmetals.com The Metallic Group of Companies: Metallic Minerals, Stillwater Critical Minerals, Granite Creek Copper
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Step-out hole APC-55 was drilled from Pad 6 to the northeast and intercepted continuous gold-silver-copper mineralization from surface over a significant core length as follows:
APC-55 returned 1,356 g/t gold equivalent on a grams X metres basis, which represents the largest grade accumulation drilled to date into the Apollo porphyry system.
APC-55 has extended the strike length of the Apollo system to the northeast with maximum known dimensions now measuring 455 metres by 395 metres by 915 metres.
Hole APC-49 was drilled from Pad 6 to the northwest and intersected continuous gold-silver-copper mineralization from surface over a significant core length as follows:
APC-49, which was drilled to depth in an area with no prior drilling, demonstrated excellent continuity of mineralization over its entire core length. The hole was terminated in mineralization due to a drilling related issue with the final 15.85 metres averaging 0.52 g/t gold equivalent.
Four rigs are now operating at the project with nine holes currently in the lab for analysis. Additional assay results are expected in the near term.
Ari Sussman, Executive Chairman commented: “The Apollo system continues to deliver unusually high-grade intercepts for a porphyry deposit over significant core lengths with today’s results being two of the longest holes ever drilled by the Company. I am most pleased that mineralization in both holes began directly from surface and the size of the Apollo system was once again expanded as a result of APC-55. I am excited about the prospect of what the Guayabales project will deliver in the second half of 2023 as we embark on the aggressive growth phase of our 2023 drilling program where expansion of the Apollo porphyry system and making a new discovery are our top priorities.”
TORONTO, June 27, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from two drill holes designed to test depth extensions and high-grade mineralization within the Apollo porphyry system (“Apollo”) at the Guayabales project located in Caldas, Colombia. Apollo is a high-grade, bulk tonnage copper-silver-gold system, which owes its excellent metal endowment to an older copper-silver and gold porphyry system being overprinted by younger precious metal rich, carbonate base metal vein systems (intermediate sulphidation porphyry veins) within a magmatic, hydrothermal inter-mineral breccia and diorite porphyry bodies currently measuring 455 metres x 395 metres x 915 metres and open for expansion.
To watch a short video of David Reading, Special Advisor to Collective Mining, speak about the assay results announced today, please click here.
Details (See Table 1 and Figures 1-3)
The 2023 Phase II drilling program is advancing on schedule with 24 holes completed and results announced with an additional nine holes awaiting assay results from the lab. The objectives of the 2023 program are to define high-grade mineralization, the dimensions of the Apollo porphyry system near surface, expand the size of the system through step-out and directional drilling and drill test multiple new targets generated through grassroots exploration. Since the announcement of the discovery hole at Apollo in June 2022, a total of 55 drill holes (approximately 23,907 metres) has been completed and assayed.
This press release outlines results from two, long step out holes. APC-49 and APC-55 were drilled to test high grade, shallow mineralization, and depth extensions in previously undrilled areas. Both holes were drilled from Pad 6 with APC-49 directed steeply to the northwest and APC-55 drilled to the northeast. Results for these holes are summarized below:
APC-49 was drilled steeply to the northwest from Pad 6 to a maximum downhole depth of 852.90 metres (908 metres vertical due to topography). The hole was designed to test the northwestward continuity of the deposit at depth. The hole intercepted saprolite and oxidized sulphide material (transition zone) from 5.7 metres downhole until 28.6 metres. Below this the hole passed into fresh rock consisting of angular breccia with a sulphide cement matrix containing chalcopyrite (up to 0.8 %), pyrite (up to 1.2%) and 0.8% pyrrhotite and some areas of mineralized porphyry (without breccia). Various sheeted carbonate base metal veins (“CBM”) and veinlet zones associated with higher grade gold, which overprint and flood the matrix hosting the earlier breccia-porphyry mineralization, were observed and contain carbonate associated with sphalerite and galena. The hole bottomed in mineralization due to drilling problems with the last 15.85 metres from 837.1 metres downhole returning 0.52 g/t gold equivalent. Complete assay results for the hole are summarized in Table 1 with highlights as follows:
847.25 metres @ 1.09 g/t gold equivalent from 5.65 metres (consisting of 0.64 g/t gold, 16 g/t silver and 0.14% copper) including:
Importantly, APC-49 confirms that the system remains wide open at depth in the northwest area of the deposit and future directional drilling will look to expand the system and tighten up drill spacing.
APC-55 was drilled to the northeast from Pad 6 and was designed to test for an extension of shallow high-grade mineralization to depth within the northeast portion of the Apollo system. The hole was drilled to a maximum downhole depth of 909.45 metres (855 metres vertical) with mineralization beginning at surface. The hole intercepted saprolite and oxidized sulphide material (transition zone) from surface until 48.80 metres down hole. Below this depth, the hole passed into fresh rock consisting of angular breccia with a sulphide cement matrix containing chalcopyrite (up to 1.0 %), pyrite (up to 2.0%) and pyrrhotite (up to 1.2%) with some interfingering areas of mineralized porphyry (without breccia). Four sheeted CBM vein and veinlet zones at 184.7 metres, 364.2 metres, 431.8 metres and 591.5 metres downhole were observed with vein sulphides (sphalerite and galena) overprinting the earlier porphyry mineralization in the breccia matrix. Complete assay results for the hole are summarized in Table 1 with highlights as follows:
792.25 metres @ 1.71 g/t gold equivalent from surface (consisting of 0.88 g/t gold, 39 g/t silver and 0.18% copper) including:
APC-55 returned 1,356 g/t gold equivalent on a grams X metres basis, which represents the largest grade accumulation drilled to date into the Apollo porphyry system. APC-55 has also extended the strike length of the mineralized system to the northeast with maximum know overall dimensions now measuring 455 metres by 395 metres by 915 metres. The multiple north-west and east-west trending CBM vein systems intersected along the hole at both shallow and deeper elevations highlight an excellent opportunity for high grade mineralization to be found over significant vertical dimensions.
Apollo Drill Program Outline and Assay Update
Nine additional holes have been completed at the Apollo system with assay results expected in the near term with all holes except one intersecting bulk tonnage mineralization over significant core lengths.
With four diamond drill rigs now operating at site, the Company is focused on:
Expanding the Apollo porphyry system and the recently discovered high-grade Contact Zone
Stepping-out along the newly discovered high-grade Vein Zone situated above the Apollo porphyry system along a northwest to southeast corridor (where it does not come to surface)
Testing the six newly generated targets surrounding the Apollo porphyry system
Testing a new porphyry target named Plutus, which is located approximately one kilometre east of Apollo. Further details on Plutus will be announced shortly once all surface geochemistry assay results have been delivered, verified, and compiled.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry covers a 1,000 metres X 1,200 metres area and represents a large and unusually high-grade Cu-Ag-Au porphyry system. Mineralization styles include early-stage porphyry veins, inter-mineral breccia mineralization and multiple zones of porphyry related late stage, sheeted, carbonate-base metal veins with high gold and silver grades. The Apollo target area is still expanding as the Company’s geologists have found multiple additional outcrop areas with porphyry veining, breccia, and late stage, sheeted, carbonate base metal veins. (See press release dated April 18, 2023)
Table 1: Assay Results
Hole #
From (m)
To (m)
Length (m)
Au g/t
Ag g/t
Cu %
Mo %
AuEq g/t*
APC-49
5.65
852.90
847.25
0.64
16
0.14
0.001
1.09
incl
5.65
28.55
22.90
1.13
11
0.06
0.001
1.36
and incl
76.60
240.60
164.00
0.44
40
0.47
0.002
1.77
and incl
253.80
293.85
40.05
0.25
32
0.46
0.001
1.46
and incl
443.85
466.10
22.25
1.14
12
0.03
0.002
1.36
and incl
491.45
533.80
42.35
2.65
11
0.03
0.001
2.78
and incl
559.10
585.20
26.10
1.49
12
0.04
0.000
1.68
and incl
625.60
656.55
30.95
1.80
20
0.04
0.001
2.12
and incl
837.05
852.90
15.85
0.44
3
0.01
0.002
0.52
APC-55
0.00
792.25
792.25
0.88
39
0.18
0.001
1.71
incl
0.00
48.80
48.80
2.93
15
0.10
0.002
3.23
and incl
49.55
80.45
30.90
1.99
14
0.13
0.001
2.35
and incl
96.00
145.55
49.55
1.79
65
0.15
0.002
2.93
and incl
184.70
206.25
21.55
2.97
38
0.14
0.001
3.66
and incl
364.15
395.20
31.05
1.56
47
0.12
0.000
2.37
and incl
431.75
453.40
21.65
1.75
36
0.09
0.001
2.36
and incl
591.50
608.00
16.50
1.99
22
0.05
0.001
2.34
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.97) + (Ag g/t x 0.016 x 0.88) + (Cu (%) x 1.87 x 0.90)+ (Mo (%)*11.43 x 0.85) and CuEq (%) is calculated as follows: (Cu (%) x 0.90) + (Au (g/t) x 0.51 x 0.97) + (Ag (g/t) x 0.009 x 0.88)+ (Mo(%)x 6.10 x 0.85) utilizing metal prices of Cu – US$3.85/lb, Ag – $24/oz Mo – US$25.00/lb and Au – US$1,475/oz and recovery rates of 97% for Au, 88% for Ag, 85% for Mo, and 90% for Cu. Recovery rate assumptions are speculative as limited metallurgical work has been completed to date.
True widths are unknown, and grades are uncut.
Figure 1: Plan View of Drilling Highlighting Drill Holes APC-49 and APC-55 and Visual Intercepts for Holes for Which Assay Results are Anticipated in the Near Term (CNW Group/Collective Mining Ltd.)
Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver, and gold exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The Company’s near-term objective is to drill the shallow portion of the porphyry system while continuing to expand the overall dimensions of the system, which remains open in most directions.
Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock, soils and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Information Contact:
Follow Executive Chairman Ari Sussman (@Ariski73) and Collective Mining (@CollectiveMini1) on Twitter.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
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 news release.
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SOURCE Collective Mining Ltd.
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