Grizzly Discoveries: TSX-V : GZD | OTCQB : GZDIF | FWB : G6H Grizzly is targeting a number of new and existing high-priority battery metals targets at Robocop (copper, cobalt and silver) along with precious metals – battery metals targets at Greenwood (gold-silver-copper and other based metals). Recent geophysical results have outlined large areas with anomalous geological potential for new discoveries at both projects.
Ottawa, Ontario–(Newsfile Corp. – June 2, 2023) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) announces that it is amending the terms of its non-brokered private placement originally announced on May 10, 2023. The private placement will now raise gross proceeds of up to $1,000,000, comprising 33,333,333 units (each a “Unit”), at $0.03 per Unit (the “Offering”). Each Unit consists of one common share of the Company and one whole common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.05 per share for a period of 24 months following the date of issuance. Additionally, the Warrants will be callable during the 24-month period, at the option of the Company, in the event that the 20-day volume-weighted average price of the Company’s common shares meets or exceeds $0.08 for ten consecutive trading days based on trades on the TSX Venture Exchange and Alternative Trading Systems. Subscribers will be notified of the call provision being triggered and will have a 30-day period to exercise the warrants.
Any securities issued under the Offering would be subject to a statutory hold period of four months and one day from the date of issuance. This Offering is subject to approval of the TSX Venture Exchange (“TSX-V”). The Company anticipates a first closing of the Offering on or about June 7, 2023 and a final closing on June 23, 2023.
The Offering will be conducted by the Company utilizing the Existing Security Holder Prospectus Exemption under OSC Rule 45-501 Ontario Prospectus and Registration Exemptions and other equivalent provisions of applicable securities laws in other jurisdictions in Canada (collectively, the “Existing Security Holder Exemptions”) as well as the “accredited investor” exemption under National Instrument 45-106 Prospectus and Registration Exemptions and also other exemptions available to the Company.
The Company will make the Offering available to all shareholders of the Company as of June 1, 2023 (the “Record Date”) who are eligible to participate under the Existing Security Holder Exemptions and who have notified the Company by no later than June 19, 2023 at 5:00 pm (Eastern) of their intention to participate in the Offering. The Existing Security Holder Exemptions limit a shareholder to a maximum investment of $15,000 unless the shareholder certifies in the subscription agreement that he or she has obtained advice regarding the suitability of the investment from a registered investment dealer or otherwise qualifies to rely on another private placement exemption.
In the subscription agreement, shareholders will be required to certify the number of common shares of the Company held as of the record date and the total number of Units they wish to subscribe for. Each existing shareholder on the record date will be entitled to purchase that number of Units equal to at least their pro rata share based on the common shares owned on the record date, subject to a $3,000 minimum subscription. Any additional available Units will be allocated by the Company based on subscriptions received and Units available. Orders will be processed by the Company on a first come, first served basis such that it is possible that a subscription received from a shareholder may not be accepted by the Company if the Offering is over subscribed. Any person who becomes a shareholder of the Company after the Record Date shall not be entitled to participate in the Offering under the Existing Security Holders Exemptions.
It is anticipated that approximately 35% of the aggregate proceeds raised under the Offering will be used for exploration expenditures related to the Gold Chain, Arizona project; approximately 30% will be used for land management costs and property payments, approximately 20% will be used for working capital and general corporate purposes, and approximately 15% will be used to pay management fees to Company officers.
It is anticipated that certain officers and directors of the Company will participate in the Offering. Gold79 may pay commissions to qualified finders in Canada in connection with the Offering. Any finder fees paid would be in accordance with TSX-V policies.
The offered securities will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.
About Gold79 Mines Ltd.
Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.
For further information regarding this press release contact: Derek Macpherson, President & CEO Phone: 416-294-6713 Email: dm@gold79mines.com Website: www.gold79mines.com.
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including the proposed private placement or any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER, BC / ACCESSWIRE / June 2, 2023 /Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) will be attending two exceptional North American events in June to discuss 2023 exploration and resource expansion drill plans at its flagship Stillwater West critical minerals project in America’s iconic Stillwater mining district in Montana, as well as longer term corporate objectives.
President and CEO Michael Rowley will attend Benchmark Mineral Intelligence’s Battery Gigafactories USA 2023 conference on June 8th and 9th in Washington DC. The event is a live, in-person conference that is focused on the rise of the US lithium-ion battery gigafactory economy and the need to build secure, sustainable critical mineral supply chains. Attendees include prominent personnel from across the battery metals supply chain and infrastructure sector as well as key legislators and policy makers. For more information, click here.
Mr. Rowley will also attend and present SWCM and Stillwater West at THE Mining Event of the North in Quebec City on June 19-21, 2023. The conference is Canada’s invitation-only Tier 1 conference for mining companies, accredited investors, institutions, and funds and features keynotes and panels with well-known industry thought leaders. For more information, click here.
Warrant Extension
The Company further reports that it has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that are due to expire June 16, 2023 (the “Warrants”). Per the application, 7,406,250 Warrants that were originally issued as part of a financing completed in June 2021 (see news release June 16, 2021) will be extended to a new expiration date of June 16, 2024. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.55.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V:PGE | OTCQB:PGEZF) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, delineates a compelling suite of critical minerals contained within five Platreef-style nickel and copper sulphide deposits at Stillwater West, which host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold, and remains open for expansion along trend and at depth.
Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
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, BC / ACCESSWIRE / June 2, 2023 /Vancouver, B.C., Granite Creek Copper Ltd. (TSXV:GCX) (“Granite Creek” or the “Company“) is pleased to report that it has completed the non-brokered private placement financing (“Offering“) announced May 12, 2023, for total aggregate proceeds to the Company of $1,265,175.01 as follows:
10,853,333 units at a price of $0.06 per unit, with each unit consisting of one common share of the Company and one-half of one transferable warrant. Each full warrant allows the holder to purchase one common share of the Company at a price of $0.12 per share for thirty-six months (“Common Share Units”);
8,186,334 flow-through units at a price of $0.075 per unit, with each unit consisting of one flow-through share of the Company and one-half of one transferable flow-through warrant. Each full flow-through warrant allows the holder to purchase one flow-through share of the Company at a price of $0.15 per share for twenty-four months (“Flow-Through Units”).
The private placement was offered on a non-brokered basis and closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange. All shares and warrants issued will be subject to a statutory hold period of four months and one day from the closing of the Offering.
Proceeds will be used for exploration and development of the Company’s Carmacks Copper-Gold Project in Yukon, Canada, and for general working capital purposes. All of the gross proceeds from the issuance of the Flow-Through Shares and the flow-through shares comprising part of the Flow-Through Units will be used to incur Critical Mineral Exploration Expenses (“CMEE”). Such expenses will qualify as “flow-through mining expenditures” under the Income Tax Act (Canada) and will be renounced to the purchasers of such shares, with an effective date no later than December 31, 2023, in an aggregate amount no less than the proceeds raised from the issue of the Flow-Through Shares and the flow-through shares comprising part of the Flow-Through Units.
The Offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“), as insiders of the Company have subscribed for 1,000,000 Common Share Units and 350,000 Flow-Through Units in the Offering for a total consideration of $86,000. The Company relied on the exemptions in Section 5.5(b) – Issuer Not Listed on Specified Markets from the formal valuation requirements of MI 61-101 and relied on the exemption in Section 5.7(1)(a) – Fair Market Value Not More Than 25 Per Cent of Market Capitalization from the minority shareholder approval requirements of MI 61-101. The Company did not file a material change report at least 21 days before the expected closing date of the Offering, as the aforementioned insider participation had not been confirmed at that time and the Company wished to close the Offering as expeditiously as possible.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America.The Shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
Warrant Extension
The Company announces that it has applied for TSX Venture approval to extend the expiry date on certain warrants that were due to expire June 5 and June 11, 2023 (the “Warrants“). The Warrants, originally issued as part of a financing completed in June 2020 (see news release dated June 11, 2020), will, upon approval, have expiry dates of June 5 and June 11, 2024, respectively. All other terms of the warrants stay the same, with each warrant entitling the holder to acquire one common share at an exercise price of $0.075. If the common shares close at $0.15 or higher for 10 consecutive trading days, the Company may accelerate expiry of some or all of the warrants to the 30th day after notice to warrant holders.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the exploration and development of critical minerals projects in North America. The Company’s projects consist of its flagship PEA-stage Carmacks project in the Minto copper district of Canada’s Yukon Territory, the advanced stage LS Molybdenum project and the Star copper-nickel-PGM project, both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.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.
Kelowna, British Columbia–(Newsfile Corp. – June 1, 2023) – Diamcor Mining Inc. (TSXV: DMI) (OTCQB: DMIFF) (FSE: DC3A) (“Diamcor” or, the “Company”), a Canadian diamond mining Company with a proven history in exploration, mining, and sale of rough diamonds, announces today that its CEO, Mr. Dean Taylor, will be presenting at the 13th Annual LD Micro Invitational at the Luxe Sunset Boulevard Hotel, California on Tuesday, June 6th, at 1:00 PM ET and will be available for private 1 vs 1 meetings.
The presentation will provide an update on the Company’s Krone-Endora at Venetia Project (the “Project”), the efforts underway to ramp up processing volumes, and the recently announced drilling and bulk sampling exercises aimed at identifying the deposits on the remaining 85% of the Project’s 5,833 ha areas. The Project is co-located with De Beer’s Venetia Diamond Mine (“Venetia”), and the diamond deposits on the Company’s Krone and Endora properties are known to have been created from the direct shift and erosion of an estimated 50 million tons of material from Venetia. The Company has established significant infrastructure at the Project and developed unique approaches to mining using advanced technologies and techniques to initially extract over 200,000 carats of rough diamonds from trial-mining exercises at the Project in a safe, efficient, and environmentally responsible manner. The Venetia diamond mine is considered one of the world’s top producing diamond mines and De Beers has confirmed its recent investment of an additional $2.0B USD in Venetia.
“I look forward to providing the LD Micro audience with an overview of our progress at our Krone-Endora at Venetia Project and the efforts underway aimed at advancing the Project to the next stages to support our future growth and the creation of Shareholder value for the long-term,” stated Mr. Dean Taylor, Diamcor’s CEO.
Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established history in the mining, exploration, and sale of rough diamonds. The Company has established a long-term strategic alliance with world famous Tiffany & Co. and is listed on the TSX Venture Exchange (TSXV: DMI), and trades on the OTC QB Venture Market (OTCQB: DMIFF). The Company’s primary focus is on the development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About LD Micro
LD Micro, a wholly owned subsidiary of Freedom US Markets, was founded in 2006 with the sole purpose of being an independent resource in the micro-cap space. Whether it is the Index, comprehensive data, or hosting the most significant events annually, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Drill hole APC-45, which is the first hole into the Contact Zone in the southernmost part of the Apollo porphyry system from Pad 7, intersected an abundance of sheeted CBM veins overprinting earlier porphyry mineralization. Remarkably continuous high-grade gold-silver-copper was intersected over the entire core length with results as follow:
Hole APC-48 was drilled to the southwest from Pad 7 and successfully expanded the overall footprint of the shallow mineralization to the southwest. Interestingly, the hole exited the brecciated portion of the Apollo porphyry system and continued to the end of the interval in a mineralized precursor porphyry unit with overall results as follows:
As a result of APC-48, the maximum known strike length of the system has increased to 435 metres (previously 385 metres) with the overall maximum known dimensions now measuring 435 metres strike x 385 metres width x 915 metres vertical. The system remains open for expansion in most directions.
Hole APC-47 was drilled in an easterly direction from Pad 4 in order to cut across the system in an area of the block model with limited information. A long and continuous interval of high-grade gold-silver and copper mineralization was intersected with results as follows:
Two drill holes, APC-49 and APC-55 were designed to explore the depth potential of the Apollo system from Pad 6 to the northeast and northwest respectively. Detailed visual logging of both holes indicates that long and continuous zones of mineralization were encountered from surface to downhole depths of 840 metres and 790 metres respectively. APC-49 was terminated while still in mineralization due to a drilling related issue while APC-55 will expand the over dimensions of the Apollo system to the northeast if it is mineralized to the end of the interval. Assay results for these holes are expected in late June 2023.
Eleven additional holes have been completed at the Apollo system with assay results expected in the near term. All eleven holes intersected cumulative mineralization over varying yet significant downhole drill lengths. Three drill rigs are operating on site with a fourth rig expected to begin operating prior to the end of Q2, 2023. Once onsite, the fourth rig will focus on testing the six new exploration targets directly surrounding the Apollo system as well as regional targets within the three-kilometre porphyry corridor (see press release dated April 18, 2023, for further details).
Ari Sussman, Executive Chairman commented: “The Contact Zone at the Apollo system continues to intercept impressive high-grade mineralization and importantly can now be traced over a meaningful strike length. June 2023 is shaping up to be an exciting and important month for the Company with assay results expected for Contact Zone drill hole APC-53 and deep holes APC-49 and APC-55. Additionally, our aggressive exploration focus will expand with a fourth rig scheduled to arrive on site in late June. This rig will be designated to systematically test exploration targets surrounding the Apollo porphyry system and the greater Guayabales project.”
TORONTO, May 30, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from a further three drill holes as well as visual observations for two long drill holes which tested the depth potential of 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 435 metres x 395 metres x 915 metres and open for expansion.
Details (See Table 1 and Figures 1-3)
The 2023 Phase II drilling program is advancing on schedule with eighteen holes completed and results announced. A further eleven holes have been drilled and await 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 49 drill holes (approximately 21,487 metres) have been completed and assayed.
This press release outlines results from three holes. APC-45 and APC-48 were drilled in southerly and south westerly directions from Pad 7 while APC-47 was drilled to the east from Pad 4. APC-45 was designed to test the Contact Zone (where the intermineral breccia ends at a contact with quartz diorite porphyry) at shallow levels in the southern portion of the deposit. APC-48 was designed to test the mineralization potential in the porphyry host rock to the south of the Apollo system while APC-47 was designed to test a large void in the block model for the Apollo system. Additionally, visual observations are provided for two long holes, APC-49 and APC-55, which were drilled to the northwest and northeast respectively from Pad 6. Results for all holes are summarized below:
APC-45 was drilled steeply (-85°) in a southerly direction from Pad 7 to a maximum downhole depth of 238.4 metres and was designed to test the Contact Zone between breccia and porphyry host units as well as the high-grade copper mineralization previously encountered at shallow levels in this area. The mineralized interval of oxidation (saprolite) commenced from surface to 17.05 metres and was then followed by a transition zone to 39.55 metres down hole. The transition zone hosts iron oxides formed from the oxidation of the original sulphides hosted within the matrix of the breccia and within veins. Below the zone of oxidation, the intercept passed into fresh rock consisting of mineralised quartz diorite breccia with a sulphide matrix composition of 1.5% chalcopyrite, pyrite up to 5% and pyrrhotite (up to 3.0%). Continuous mineralization was encountered until 162.20 metres (160 metres vertical). A high-grade zone of carbonate base metal veins (“CBM veins”) was intercepted from just below the transition zone until 54 metres depth. Notably, exceptional and continuous mineralization was intercepted along the interval with grades increasing as the hole approached the physical contact between breccia and quartz diorite porphyry The Contact Zone contains excellent gold, silver and copper grades associated with the sulphide matrix and overprinting quartz-carbonate and sulphide veining with complete assay results for the hole as follows:
162.20 metres @ 3.90 g/t gold equivalent commencing from surface (consisting of 2.59 g/t gold, 29 g/t silver and 0.56% copper) and including:
APC-47 was drilled in an easterly direction from Pad 4 to a maximum downhole depth of 636.3 metres and was designed to test multiple zones of CBM veins overprinting the mineralized breccia in the central eastern side of the deposit where limited information was available in the block model. The drill hole intercepted porphyry mineralization with CBM sheeted veins overprinting in part at shallow downhole depths before passing into mineralized breccia at a downhole depth of 226.80 metres (220 metres vertical). Continuous porphyry mineralization with overprinting sheeted CBM vein material was observed in the breccia until 534.40 metres downhole. The mineralized breccia’s sulphide matrix hosts chalcopyrite (1%), pyrite (1%-2.5%) plus some pyrrhotite with multiple zones of sphalerite and galena observed. Three principal high-grade zones were intersected at downhole depths of 233.15 metres to 261.50 metres, 354.40 metres to 372.20 metres and 396.00 metres to 413.10 metres with assay results for the complete hole as follows:
307.60 metres @ 2.53 g/t gold equivalent from 226.80 metres downhole (consisting of 1.40 g/t gold, 53 g/t silver and 0.25% copper) including:
APC-48 was drilled steeply (-75°) in a southwesterly direction from Pad 7 to a maximum downhole depth of 354.55 metres and was designed to test the potential of mineralization outside of the breccia to the southwest. The mineralized interval of oxidation commenced from surface to 12.40 metres and consists of saprolite followed by a transition zone down to 39.55 metres. The transition zone hosts iron oxides formed from the oxidation of the original sulphides hosted within the matrix of the breccia and within veins. Below the zone of oxidation, the intercept passed into fresh rock consisting of quartz diorite breccia with a matrix of chalcopyrite (0.8%), pyrite (up to 2.5%) and 1% pyrrhotite. A high-grade zone was encountered within the transition zone from 13.15 metres to 31.40 metres downhole with numerous sheeted CBM veins overprinting the breccia matrix. APC-48 exited the mineralized breccia at 114.40 metres (112 metres vertical) and entered a mineralized precursor stage of porphyry mineralization from 128.10 metres to 236.70 metres grading 0.40 g/t gold equivalent over 108.60 metres. APC-48 is notable for extending the maximum known strike length of the Apollo system by 50 metres to the southwest with the maximum known overall system dimensions now measuring 435 metres x 395 metres x 915 metres. Assay results for APC-48 are as follows:
114.40 metres @ 2.38 g/t gold equivalent commencing from surface (consisting of 1.71 g/t gold, 15 g/t silver and 0.29% copper) and including:
Visual Observations for Drill Holes APC-49 and APC-55 (see Figure 1)
Two step out drill holes were recently completed from Pad 6. APC-49 was drilled to the northwest and encountered over 840 metres of continuous, downhole mineralization from surface. The hole contains an upper zone rich in chalcopyrite (up to 1.5%) to 300 metres downhole and below that multiple zones with overprinting CBM veins were encountered. The hole was stopped at 852.90 metres (900 metres vertical) while still in mineralized breccia due to drilling related challenges.
Drill hole APC-55 was drilled to the northeast from Pad 10 and also intersected continuous mineralization from surface to a downhole depth of 790 metres (752 metres vertical). The upper portion of the intercept (to 400 metres downhole depth) contains strong chalcopyrite mineralization of up to 1.5% in the breccia matrix as well as overprinting CBM veins. Below 400 metres, the hole continues in mineralized breccia including various zones of sulphide rich CBM veins and veinlets containing high amounts of sphalerite and galena. APC-55 has the potential to extend the Apollo porphyry system to the northeast and again highlights the presence of multiple CBM zones in the northeast and eastern sector of the Apollo deposit below the copper rich zone. The Company plans to undertake directional drilling in this area.
Apollo Drill Program
Eleven additional holes have been completed at the Apollo system with assay results expected in the near term. All holes intersected bulk tonnage mineralization over significant core lengths.
The Company presently has three diamond drill rigs operating at the Apollo project. A fourth drill rig is expected to be at the project in June 2023 and is going to test new exploration targets identified around Apollo as well as other targets at the Guayabales project.
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 APC-45, APC-47 and APC-48
Hole #
From(m)
To(m)
InterceptInterval (m)
Au(g/t)
Ag(g/t)
Cu%
Mo%
AuEq(g/t)*
CuEq(%)*
Notes
APC-45
–
162.20
162.20
2.59
29
0.56
0.003
3.90
2.08
Incl
–
17.05
17.05
3.13
16
0.13
0.001
3.50
oxide + transition zone
17.05
54.00
36.95
4.93
7
0.11
0.003
5.08
127.90
155.00
27.10
4.20
54
1.09
0.003
6.70
Contact Zone
APC-47
21.00
49.25
28.25
0.77
10
0.93
mineralization in porphyry
100.95
108.75
7.80
0.92
8
1.03
mineralization in porphyry
APC-47
226.80
534.40
307.60
1.40
53
0.25
0.001
2.53
1.35
Incl
233.15
261.50
28.35
3.84
65
0.24
0.001
5.06
354.40
372.20
17.80
4.19
42
0.09
0.001
4.81
396.00
413.10
17.10
5.19
90
0.19
0.001
6.62
APC-48
–
236.70
236.70
0.90
11
0.17
0.003
1.35
Incl
–
114.40
114.40
1.71
15
0.29
0.003
2.38
1.27
–
12.40
12.40
1.27
10
0.15
0.002
1.65
oxide + transition zone
13.15
31.40
18.25
5.90
17
0.20
0.002
6.32
And incl
128.10
236.70
108.60
0.16
8
0.06
0.004
0.40
mineralization in porphyry
*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$4.10/lb, Ag – $24/oz Mo – US$25.00/lb and Au – US$1,500/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. A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of Drilling Highlighting Drill Holes APC-45, APC-47, APC-48, APC-49 and APC-55 (CNW Group/Collective Mining Ltd.)
Figure 2: Core Photo Highlights of the Contact Zone in APC-45 (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.
Edmonton, Alberta–(Newsfile Corp. – May 24, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce that it has acquired by staking additional lands of 6,600 acres in eleven mineral claims in the Beaverdell area bringing its 100% owned total land package to 8,520 acres in the Beaverdell area in the Greenwood Mining District of British Columbia (BC).
Beaverdell Property
The Company now has a 100% undivided interest in thirteen mineral claims totaling 8,520 acres, known as the Beaverdell Claims, near the town of Beaverdell in southeast BC, adjacent to the Company’s Greenwood Project mineral claims.
Figure 1: Beaverdell Mineral Claims, BC Minfile Occurrences and Past Producers.
The Beaverdell mineral claims exist surrounding the town of Beaverdell and the historic Beaverdell silver-lead-zinc-gold (Ag-Pb-Zn-Au) camp shown in Figure 1. Silver production for the main Beaverdell Silver Mine was close to 35 million ounces (Moz) of Ag with greater than 30 million pounds (Mlbs) of Zn and 25 Mlbs of Pb from 1896 to 1991 (BC Government Minfile Report for 082ESW030). The Company’s Beaverdell claims exist to the northwest, west and southwest of the historic Beaverdell Silver Mine (Figure 1). Several of the recently acquired mineral claims exist immediately south of Troubadour Resources Inc.’s Texas
Project mineral claims where they have been actively exploring high grade Ag-Au-Cu-Pb-Zn zones southwest of Beaverdell including the Doorn Zone and the Wombat Zone (Figures 1 and 2).
Figure 2: Grizzly Beaverdell Mineral Claims and Historical Geochemical Sampling and Anomalies.
The Beaverdell mineral claims cover a number of historical polymetallic showings and based upon a compilation of historical assessment data, a number of rock and soil anomalies with highly anomalous Ag, Au, Zn, Pb and Cu (Figure 2).
In addition to the various Ag-Au-Zn-Pb anomalies there are a number of Cu +/- Mo anomalies in the southern half of the claim block, in particular the Tuzo Creek Molybdenite showing with accompanying sphalerite, galena and chalcopyrite in an altered, partially brecciated and quartz veined Eocene aged quartz-feldspar porphyry. Historical drilling results at the Tuzo Creek showing have yielded up to 0.28% MoS2 (0.17% Mo) over 3.05 m and 0.16% MoS2 (0.1% Mo) over 15.24 m core length in limited drilling.
Compilation of historical soil samples collected from mostly on or near the Company’s lands include approximately 7,020 soil samples with 437 samples yielding a range of 1 part per million (ppm) Ag up to 15.1 ppm Ag, a total of 111 soil samples yielding a range of 100 parts per billion (ppb) Au up to 1,090 ppb Au, a total of 420 soil samples yielding a range of 500 ppm Zn up to 6,400 ppm Zn and a total of 55 soil samples yielding a range of 200 ppm Cu up to 1,850 ppm Cu (Figure 2).
Compilation of historical rock samples collected from mostly on or near the Company’s lands include approximately 365 samples with 79 rock samples yielding a range of 10 ppm Ag up to 6,257 ppm Ag, a total of 54 rock samples yielding a range of 1 ppm Au up to 78.73 ppm Au, a total of 92 rock samples yielding a range of 1,000 ppm Zn up to 316,000 ppm (31.6%) Zn and a total of 26 rock samples yielding a range of 1,000 ppm Cu up to 70,000 ppm (7.0%) Cu (Figure 2).
The Company plans to conduct reconnaissance exploration, including prospecting, rock and soil sampling along with geological mapping at the acquired mineral claims during the coming field season.
Brian Testo, President and CEO of Grizzly Discoveries, stated, “The addition of an expanded package of Beaverdell claims is a very good acquisition for Grizzly Discoveries. It enhances our 100% owned battery metals properties in the Greenwood Mining District. We look forward to the upcoming field season with a prospecting team dedicated to discovering new showings and the drilling of these new showings.”
The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
WARRANTS EXCERCISED
On May 12, 2023, the Company issued 250,000 common shares at a price of $0.085 per common share upon the exercise of warrants for proceeds of $21,250. The Company now has 141,951,427 common shares issued and outstanding.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 69,500 ha (approximately 171,600 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC. Brian Testo, CEO, President
Suite 363-9768 170 Street NW Edmonton, Alberta T5T 5L4
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.
Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
Presentation on Thursday, May 25, 2023 at 10:00 AM ET
KELOWNA, BC / ACCESSWIRE / May 23, 2023 / Diamcor Mining Inc. (TSX-V.DMI)(OTCQB-DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) a Canadian diamond mining Company with a proven history in exploration, mining, and sale of rough diamonds announces today that its CEO, Mr. Dean Taylor, will be presenting virtually at the upcoming Sequire Metals & Mining Conference on Thursday, May 25th, at 10:00 AM ET.
The presentation will provide an update on the Company’s Krone-Endora at Venetia Project (the “Project”), the efforts underway to ramp up processing volumes, and the recently announced drilling and bulk sampling exercises aimed at identifying the deposits on the remaining 85% of the Project’s 5,833 ha areas. The Project is co-located with De Beer’s Venetia Diamond Mine (“Venetia”), and the diamond deposits on the Company’s Krone and Endora properties are known to have been created from the direct shift and erosion of an estimated 50 million tons of material from Venetia. The Company has established significant infrastructure at the Project and developed unique approaches to mining using advanced technologies and techniques to initially extract over 200,000 carats of rough diamonds from trial-mining exercises at the Project in a safe, efficient, and environmentally responsible manner. The Venetia diamond mine is considered one of the world’s top producing diamond mines and De Beers has confirmed its recent investment of an additional $2.0B USD in Venetia.
Bottom of Form
“I look forward to providing the Sequire audience with an overview of our progress at our Krone-Endora at Venetia Project and the efforts underway aimed at advancing the Project to the next stages to support our future growth and the creation of Shareholder value for the long-term,” stated Mr. Dean Taylor, Diamcor’s CEO.
Event: Diamcor Mining Presentation at the Sequire Metals & Mining Conference
Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established history in the mining, exploration, and sale of rough diamonds. The Company has established a long-term strategic alliance with world famous Tiffany & Co. and is listed on the TSX Venture Exchange (V.DMI), and trades on the OTC QB Venture Market (DMIFF). The Company’s primary focus is on the development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Burlington, Ontario–(Newsfile Corp. – May 23, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on its wholly owned Washington Mine located in Idaho, approximately 1.5 hours drive from Idaho City. The Washington Mine was a historical gold producer, and its historical silver discoveries were not able to be processed at the time.
The Company has recently been able to physically access the property following a severe winter during which the area received more than 150% of its normal snowfall. Company personnel were able to visit the site to assess the condition of the mine and roads leading to the mine. It was determined that road repairs were required to some washed out areas but otherwise the site is in good shape. Permits for road repairs have been received and work is ongoing including the installation of a new culvert and is anticipated to be completed within thirty days.
The Company is currently finalizing a budget for property and site work for this year, including the set up of the mining camp, the hook up of the water supply, moving equipment to the site, and building necessary structures to house the equipment.
The Company has engaged an experienced underground mine contractor to carry out mining activities at the site. Commencement of mining activities, which is subject to the availability of sufficient financing, is anticipated to commence within 120 days.
It is estimated that potential mineralized material is located approximately 100 feet from the portal entrance. The Company plans to mine to that area and then extract an initial 2000 ton bulk sample. Historical values from multiple bulk samples averaged 44 ounces per ton silver and .05 ounces per ton gold (see press releases of January 18, 2022, and of February 14, 2022). The Company is negotiating with a local mill to process the material.
The Company has received the final report from the Centre for Advanced Materials Processing (“CAMP”) of Montana Technical University for the metallurgical testwork carried out on behalf of SBMI on samples from the Washington Mine. The data will be used as a basis for the Company’s mineral processing flowsheet. The work performed by CAMP using gravity and flotation combined produced initial recoveries of 86.35% for silver and 69.1% gold prior to optimization. Finally, CAMP advised the results of the tests it ran returned the head grade of the material at 62.8 silver ounces per ton and .062 gold ounces per ton. The Company is planning to run optimization tests to improve the results as recommended by CAMP.
Management is looking forward to starting re-development of the Washington Mine, and believes the mine has a great deal of potential not only as a significant silver producer but, based on last year’s field program, also as a potential extension of the historical high-grade gold zone (see press release August 23, 2023).
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; the presence of mineable economic mineralized material; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.
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