Category: Junior Mining

Categories
Base Metals Energy Junior Mining Precious Metals

Terra Balcanica Confirms Epithermal Gold and Porphyry Copper Targets at Ceovishte in Serbia and Closes First Tranche of Financing

Terra Balcanica Resources Corp.
Terra Balcanica Resources Corp.

NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia, May 08, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce positive assay results from surface rock chip and soil sampling at its 80.4 km2 Ceovishte license in southern Serbia and closing of the 1st tranche of the previously announced non-brokered private placement financing of units (the ”Units”) for gross proceeds of $404,650 (the “Offering”).

Highlights

  • Surface rock sample include concentrations as high as 53.5 g/t Au, 78.6 g/t Ag and 2.47 % Cu with up to 0.39% Co and 0.45% Bi (Table 1);
  • > 900 m strike length of Au-Ag-As-Bi-Cu-Te anomalism in soil geochemistry defines new target, with soil assays returning up to 2.42 g/t Au (Figure 2);
  • Mineralization is controlled by potassic altered diorites hosting quartz-chalcopyrite veins with secondary copper mineralogy at surface (Figure 3) and a gold-bismuth-cobalt rich epithermal assemblage;
  • Drill-ready with both porphyry and epithermal mineralization visible at collar locations.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “Detailed prospecting, rock chip and soil sampling at our Serbian Ceovishte licence not only confirmed the existence of a sizable hydrothermal system responsible for multi-ounce gold assays at surface near the Medjurečje locality but also defined a new, 900-m-wide, topographically depressed, semi-circular gold-silver-copper soil anomaly northeast of the high-grade Au zone that is characterized by potassic altered andesites interpreting by Terra’s technical team to represent a previously neglected porphyry target. This confirms the potential of our Serbian assets and represents a significant diversification of the Company’s polymetallic portfolio already defined by our Viogor Zanik project. It sets the stage for drilling of the shallow high grade gold target later this year.”

The Ceovishte license totals over 80 km2 of highly prospective land for gold and copper exploration in the historic Raska mining district of southern Serbia (Figure1). The license area drapes southern slopes of the Golija Mountain, a part of the well-known Kopaonik metallogenic zone. This area features the Kiževak and Sastavci Pb-Zn-Ag mines including the Karadak deposit, all owned by Adriatic Metals plc. The historical Yugoslav GKZ, non-NI 43-101 compliant resource estimates for Kiževak is 3.9 Mt of ore grading 3.92 % Zn, 2.15 % Pb and 31 g/t Ag categorized according to the Yugoslav A+B+C1 resource nomenclature (www.adriaticmetals-serbia.com/our-projects/adriatic-metals-serbia-sastavci). The Raska mining district also holds the Rudnica Cu-Au porphyry target and is a northerly extension of the partially exploited, world class Trepča Pb-Zn-Ag skarn deposit of the norther Serbian province of Kosovo. Trepča features a non-NI 43-101 compliant resource of 60.5 Mt of ore grading over 8.0 % Pb+Zn and >159 Moz of Ag.

Figure 1. Geological map of the Ceovishte license area in southern Serbia. The black rectangle labelled Figure 2 is Terra’s primary area of interest within the license. It encapsulates Au-Cu mineralized Neogene volcanic rocks which intruded an ultramafic country rock of the West Vardar Ophiolite. Previous operators conducted work in the south of the Ceovishte license and overlooked the Au-Cu potential of the north where Terra has conducted a successful soil and rock chip sampling campaign and is planning a maiden drilling program in early Q3 of 2023 (click here to view image).

Figure 2. Map displaying Au in soil (ppb), and anomalous Au-Ag-As-Bi-Cu-Te signature. Sampling verifies the location of known mineralization and reveals > 900 m strike length of new prospective ground open to the NE. Rock sample IDs can be correlated with results in Table 1. The drill target is labelled where rock chips return up to 53.5 g/t Au and 1.45 % Cu. Note the location of anomalous Au in soil forming an arcuate pattern around the depressed centre, interpreted as possible concentric fractures around a porphyry intrusive which crops out in the south and northwest. (WGS84/UTM Zone 34N) (click here to view image).


Geology and Mineralization
The Company is focussed on exploring the overlooked Au-Ag-Cu (Bi-Co) occurrences in the northern extents of the license where Neogene intrusive rocks of intermediate composition are emplaced within ultramafic rocks of the west Vardar Ophiolite Belt. Field observations and microscopy confirms biotite-magnetite-k-feldspar potassic alteration within the diorites, which are observed controlling the distribution of mineralization and are thus inferred as the causative intrusion and target for further exploration. Intrusive contacts and vein-hosted sulphides in the south dip shallowly to the NNE below ultramafic cover into an annular topography low.

Both hypogene sulphide mineralization and supergene oxide zones are present at Ceovishte and returned very encouraging assay results of a well-endowed Au-Ag-Cu system. Quartz-chalcopyrite veins are partially oxidised at surface producing a mixture of malachite, azurite and tenorite (Figure 3) and occur within the same outcrops as quartz-arsenopyrite-bismuthinite veins. Chalcopyrite is also observed finely disseminated within the potassic altered intrusives. Gossans and vuggy silica host the highest Au values up to 53.5 g/t.

Figure 3. Macroscopically observed copper mineralization in samples 103281 and 103276 which returned 1.45 % and 2.47 % Cu, respectively. Mineralization is vein-hosted within potassic altered diorites and comprises quartz, chalcopyrite, malachite, azurite and tenorite (click here to view image).
Mineralized rock samples also return high bismuth and cobalt, which may have been stripped from the ultramafic country rocks by hydrothermal fluids and re-precipitated within the epithermal veins. Ceovishte therefore has characteristics of the 5-element vein (Ag-Bi-Co-Ni-As) style of mineralization.

SampleEastingNorthingAu (g/t)Ag (g/t)Bi (ppm)Cu (%)Co (ppm)
100851476500481518253.58.744900.0312
10083847555448161860.1978.620.0171
100839476417481518811.010.135700.14805
10327347638348152046.561.22990.011300
10327147633548151570.481.8200.1221
103282476479481517310.950.822990.023940
10326447660248151820.0918.960.015.7
10326747560648161960.020.69420.049
10326247562848160843.0911.84800.03336
10326947560548161580.101.70.4–9
10327647617948159870.0510.8202.4713
10327947637648151280.392.1650.0127
10328047638348151333.281.422240.01145
10327747618948159972.20.5690.0188
10328147651448151890.1621.51441.4550

Table 1. Rock chip locations and assay results for key commodity elements. Samples can be seen with anomalous Au in soil Figure 1. (WGS84/UTM Zone 34N).

Soil Geochemistry
Results from 386 B/C horizon soil samples successfully captured the signature of Au-Cu mineralization at Ceovishte. Two known occurrences were highlighted by the sampling, verifying the Au-Ag-As-Bi-Cu-Te grouping as representing mineralization, with a further 900 m strike length anomaly being generated for follow up in the north of the survey. The newly defined target area returned assays up to 2.42 g/t Au and 424 ppm Cu in soil. This area has not seen rock chip sampling and offers significant exploration upside for extending the footprint of known Au-Cu mineralization.

Elevated commodity and pathfinder elements in soil correlate to a K-Ba-Na element grouping, indicating sub cropping intermediate composition intrusives rather than the ultramafic country rock which has a strong Ni-Co-Cr-Mg signature. Soil anomalism generates an annular pattern which surrounds a central topographic depression with enclosing ridges of ultramafic rock. This correlation could indicate concentric and ring radial fractures, which have formed around a central porphyry intrusive and focussed hydrothermal fluid flow. Potassic altered, Au-Cu mineralized diorite intrusives have been observed and sampled at both the southern and northern extents of this annular feature, with over 900 m of untested strike length in the northeast.

Future Exploration Program
The norther Ceovishte licence is drill-ready with pad locations designed to test the depth extensions of the Au-Cu mineralization sampled on surface. Following positive results in maiden drilling geophysics will be considered to guide a larger phase II drilling program.

Follow up of the anomalous soil geochemistry will be undertaken in the northeast through geological/alteration mapping and rock chip assay. This will generate a pipeline of targets for drill testing. Further soil sampling will be completed in the northeast where the anomaly remains open to define its full spatial extent.

1st Tranche Private Placement Financing Closed
The Company issued an aggregate of 4,760,586 Units at a price of $0.085 per Unit for gross proceeds of $404,650 pursuant to the Offering announced on April 4th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until May 5th, 2026.

The Company intends to use the net proceeds of the Offering for working capital and to fund the Phase II drilling across its portfolio of properties. Finders’ fees in the amount of $8,057 were paid.

Giulio Bonifacio, Chair of the board of directors, Steven Latimer, a director, and Kim Oishi, a director (the “Insiders”) purchased 1,194,117 Units as part of the Offering.  The issuance of the Units to the Insiders constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by Insiders in the Offering was approved by directors of the Company who are independent in connection with such transactions.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the Private Placement will be subject to a four (4) month hold period ending September 6th, 2023.

This news release does not constitute an offer to sell or a solicitation of an offer to sell 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 or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

QAQC
Representative rock samples were taken from surface outcrops and sent to ALS Bor, Serbia for sample preparation and subsequent wet chemical analysis at the Loughrea laboratory in Ireland, and ISO/IEC 17025:2017 certified test facility. Sample preparation PREP-31BY method involved crushing the core to a 70% fraction less than 2 mm in size, rotary split 1.0 kg and pulverizing the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-ICP21). Over limit samples for base metals were re-analysed by the four-acid digest ICP-AES analyses termed ME-OG62. Over-limit gold analysis was conducted by fire assay and gravimetric finish (Au-GRA21). Soil samples were taken in the B/C horizon and sent to ALS Bor, Serbia. Analysis was undertaken after dry screening to 180 microns by method AuME-TL44 an aqua regia digest followed by ICP analysis on a 50g sample. Over-assays were conducted by the OG-46 (base metals) and Au-AROR44 (gold) techniques.

Qualified Person
Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company
Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Alex Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

Categories
Base Metals Energy Junior Mining Metallic Group Precious Metals Stillwater Critical Minerals

Stillwater Critical Minerals Applies for Warrant Extension

VANCOUVER, BC / ACCESSWIRE / May 5, 2023 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that are due to expire May 21, 2023 (the “Warrants”). Per the application, 5,233,824 Warrants that were originally issued as part of a financing completed in November 2019 (see news release dated November 21, 2019) will be extended to a new expiration date of November 21, 2023. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.25.

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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com
Web: http://criticalminerals.com
Phone: (604) 357 4790
Toll Free: (888) 432 0075

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

SOURCE: Stillwater Critical Minerals



View source version on accesswire.com:
https://www.accesswire.com/753271/Stillwater-Critical-Minerals-Applies-for-Warrant-Extension

Categories
Base Metals Diamcor Mining Junior Mining

Diamcor to Begin Bulk Sampling into Greater Areas of its Krone-Endora at Venetia Diamond Mine Project

KELOWNA, BC / ACCESSWIRE / May 4, 2023 / Diamcor Mining Inc. (TSX-V.DMI)(OTCQB-DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) a Canadian based diamond mining Company with a proven history in the mining, exploration, and sale of rough diamonds, announces today that it will be proceeding with an extensive drilling and bulk sampling program over the greater portions of its Krone-Endora at Venetia diamond mine project (the “Project”).

These efforts will be aimed at further identifying and locating additional material which is known to have shifted and eroded from the adjacent De Beers’ Venetia diamond mine. Diamcor’s establishment of infrastructure, two large processing plants, heavy equipment, and the extensive large-scale trial mining exercises completed to date in the initial area of 657 hectares of the Project’s total 5,888 hectares, have allowed Diamcor to refine unique approaches to mining using advanced technology and techniques to extract diamonds from the Project in a safe, efficient, and environmentally responsible manner. The previous establishment of these collective items will allow Diamcor to now advance these additional drilling and bulk sampling efforts in a very cost-effective and efficient manner.

“The considerable effort to date now allows us to proceed with this drilling and bulk sampling on the greater areas of the Project,” stated Mr. Dean Taylor, Diamcor’s CEO. “The knowledge gained from previous trial-mining and the sale of rough diamonds, along with recent modeling and initial input of some of the industry’s most respected geological experts, all point to the potential to identify significant additional material from the known shift and erosion off of Venetia.“

The initial trial-mining efforts undertaken to date have provided the Company with a better understanding of the shift and erosion of the estimated 1,000 vertical meters of material from the De Beers Venetia diamond mine kimberlite clusters that are known to have been displaced in the direction of Diamcor’s Krone and Endora properties. Both properties are co-located with De Beers Venetia mine, which is recognized as one of the top-producing diamond mines in the world. Trial mining exercises are expected to continue on portions of the initial area in conjunction with the additional drilling and bulk sampling exercises, with both items serving to further advance the recommended work programmes from the Project’s initial NI 43-101.

Further details on the parties involved in the management and independent oversight of these drilling and bulk sampling exercises will be outlined in a separate release to be issued by the Company in the coming days.

About Diamcor Mining Inc.

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 is listed on the TSX Venture Exchange (V.DMI), and trades on the OTC QB International (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 1,000 vertical meters 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 Krone-Endora at Venetia

In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors:

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

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.

SOURCE: Diamcor Mining Inc.



View source version on accesswire.com:
https://www.accesswire.com/753016/Diamcor-to-Begin-Bulk-Sampling-into-Greater-Areas-of-its-Krone-Endora-at-Venetia-Diamond-Mine-Project

Categories
Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. (SBMI) Receives Cash on First Order for Silver from Buckeye Mine in Arizona

Burlington, Ontario–(Newsfile Corp. – May 4, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it has received the previously announced cash advance on its first order for its silver products from a third-party (the “Purchaser”).

SBMI has received the sum of USD$225,000 from the Purchaser as a cash advance against the order for 500 kg of silver, to be delivered to the Purchaser in tranches or all at once. At today’s pricing this first order represents more than USD$430,000 (more than CDN$570,000).

The Purchaser has indicated it intends to purchase 500 kg from SBMI each month for six months, including this order.

The first order is currently being processed from the stockpile at the mill and SBMI anticipates shipping it in whole or in part within 30 days. The Company continues to work with the Purchaser and other potential purchasers to develop a customer base for its silver/gold production.

At the Buckeye Mine, mining is ongoing. As per SBMI’s January 16, 2023 press release, SBMI continues to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021). The Company expects to encounter that area in the near future, although given the uncertainties inherent in mining no exact date can be given.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164802

Categories
Base Metals Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Announces Preliminary Metallurgy Results for the Moss Gold Project; Gold Recoveries Increase to 93% for Moss and 98% for East Coldstream

Vancouver, British Columbia–(Newsfile Corp. – May 3, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce the preliminary results from its PEA-level metallurgical test work at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project“). The results were produced from the recent metallurgical testing program completed by Base Metallurgical Laboratories in Kamloops, British Columbia under the overall supervision of Ausenco Engineering Canada Inc. (“Ausenco”).

Highlights:

  • Test work shows significantly increased gold recoveries from a flotation-regrind-leach process averaging:
    • 93% recovery at Moss
    • 98% recovery at East Coldstream
  • These results represent an 8% to 13% increase in gold recoveries from previously conducted standard leach test work.
  • Coarse bottle roll leach test results returned gold recoveries between 53% and 64%, which encourage investigation of a low recovery heap leach solution for low-grade mineralization that may bring gold production forward and reduce tailings.

President and CEO Brett Richards stated: “We are very pleased with the early results from the metallurgical test program, as recoveries have increased from the InnovExplo’s 2011 mineral resource estimate and subsequent 2013 preliminary economic assessment by 8%-13%. This detailed testing being undertaken will enhance the economics of our new mineral resource estimate due out in the near future; and the new preliminary economic assessment due to commence immediately thereafter. As well, these results also appear to provide early support for heap leaching the low-grade material, which positively changes the dynamics of an economic analysis.”

Technical Overview

Figure 1 shows the location of the samples that make up the metallurgical composites.

Figure 1: Location map

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/164622_6b7cf742f4645943_002full.jpg

The metallurgical gold recovery test-work was conducted to assess the potential gold recoveries and potential process flowsheets for the Moss Gold Project, which include the Moss Gold Deposit (“Moss”) and East Coldstream Gold Deposit (“East Coldstream”). Testing started in early 2023 on composite and variability samples from the Main, QES and SW Zones at Moss, and from East Coldstream. The program included comminution testing, grind optimization for leaching and flotation, gravity concentration, and leach testing. Cyanide destruction and solid liquid separation testing are still ongoing and will be completed later in Q2 2023.

Gold Recovery Test Work Results Summary

The program evaluated 18 discrete composite samples representing the two gold deposits. Each composite consisted of multiple samples collected from diamond drill core and coarse rejects. Primary composites were selected for the Main / QES Zones (three samples), and one sample each for the SW Zone and East Coldstream deposits to reflect grade, spatial and lithological distributions. The composition of the primary pit composites was designed to have anticipated average grades that will be confirmed in a planned mineral resource estimate. Variability samples were selected to provide representation from higher grade shear zones and lower grade host rocks from the deposits.

Crushing and Grinding Testing

Comminution testing characterized sample hardness by Steve Morell Comminution (“SMC”) testing, Bond Rod Mill (“RWI”), Ball Mill Work Index (“BWI”) and Bond Abrasion Index (“Ai”) tests. Three samples from the Main QES deposit were used for this testing.

The results showed:

  • SMC Axb average value of 34.7, indicates the samples are competent.
  • Average RWI and BWI values of 18.4 and 19.5 (metric) respectively, considered hard to very hard range of hardness.
  • Average Ai value of 0.175 g, which is classified as low to moderately abrasive.

Gravity Concentration Testing

The Main and QES Zone composite samples were tested with the Extended Gravity Recoverable Gold protocol to determine their amenability to gravity concentration.

The results showed:

  • Moderate Gravity Recoverable Gold content totaling 40% gold.
  • At full scale, this would be in the 10% to 15% gold recovery range.

Leach Testing

Coarse Particle Size Leach Tests

Intermittent bottle rolls leach tests were conducted on the samples at crush sizes of -6.25 mm and -2 mm to evaluate potential for heap leaching. Tests were run over 8 days with bottles rolled for 1 minute per hour.

The results showed:

  • Average leach extraction for the -6.25 mm crush size samples is 52.6% Au.
  • Average leach extraction for the -2 mm crush size samples is 64.2% Au.

Standard Leach Tests

Initial standard bottle rolls leach tests were completed on the primary composites from Main and QES Zones, over a range of grind sizes with 48 hours leaching and without gravity concentration prior to leaching. The results showed a weak relationship between grind size and recovery. As a result, a grind of 80% passing 100 microns was selected for further testing. The selected retention time was 48 hours. Gold leach extractions averaged 84% for these tests.

A total of 25 leach tests were conducted including initial screening tests and a bulk leach test (pending) that will generate sample for cyanide detox testing. The results showed:

  • Gold leach extractions ranging from 74% to 93%, averaging 83%, with final residue values of 0.08 g/t to 0.32 g/t gold, averaging 0.20 g/t gold.
  • Calculated gold head grades ranging from 0.40 g/t to 3.06 g/t gold, averaging 1.36 g/t gold.
  • Shear Zone samples and low-grade Intrusion domain samples showed similar leach extractions to higher grade shear zone samples, based on leach residue grades as a function of head grades.
  • Sodium cyanide consumption averaged 0.50 kg/t.

Flotation-Leach Tests

Testing was also completed using a flotation-leach flowsheet which includes:

  • Grinding to 80% passing 100 microns.
  • Flotation of a sulphide concentrate.
  • Concentrate regrind to 80% passing 15 microns followed by 48 hours leaching.
  • Flotation tailings leach without regrinding for 48 hours.

Results were positive with higher extractions than the standard leach tests. Key results include:

  • Sulphide concentrate mass recoveries averaged 11%, ranging from 5% to 19%.
  • Concentrate leach extractions averaged 96%, ranging from 92% to 98%.
  • Flotation tailings leach extractions averaged 76%, ranging from 69% to 90%.
  • Combined leach extractions averaged 93%, ranging from 87% to 98%.
  • Calculated gold head grades ranging from 0.60 g/t to 2.77 g/t gold, averaging 1.46 g/t gold.
  • Sodium cyanide consumption averaged 0.75 kg/t.

A summary of the results from the primary composites with the two flowsheets evaluated are shown in Table 1.

Table 1: Moss Project Primary Composite Leach Extractions Based on Flowsheet

Composite IDHead Grade
(Au g/t)		Recovery (Au%)
Whole  Ore
Leach		Flotation
Leach
Main/QES West Composite1.488489
Main/QES Central Composite0.538087
Main/QES East Composite1.988696
Main/QES Combined Composite1.148293
Southwest Zone Composite0.837693
East Coldstream Composite2.649398

Plant recoveries will be estimated with typical plant losses for use in the planned mineral resource estimate.

Pete Flindell, VP Exploration for Goldshore, said, “These metallurgical test results affirm our belief that gold recoveries in the sulphide-bearing shear zone mineralization can be significantly improved by flotation, while the low sulphide-bearing low-grade intrusion domain mineralization may be amenable to heap leaching. Further test work is required to investigate the latter, but we have now established +90% gold recoveries for the bulk of the contained ounces at Moss and East Coldstream are achievable with a flotation-regrind-leach circuit.”

Qualified Persons

Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company and Tommaso Roberto Raponi, P.Eng., an independent consultant with Ausenco Engineering Canada Inc., are both “Qualified Persons” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) have reviewed and verified the scientific and technical information contained in this news 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. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Gold Project through the next stages of exploration and development.

About Ausenco

Ausenco is a global diversified engineering, construction and project management company providing consulting, project delivery and asset management solutions to the resources, energy and infrastructure sectors. Ausenco’s experience in gold projects ranges from conceptual, pre-feasibility and feasibility studies for new project developments to project execution with EPCM and EPC delivery. Ausenco is currently engaged on a number of global projects with similar characteristics and opportunities to the Moss Gold Project.

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.

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.” 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, including gold recoveries, the release of an updated mineral resource estimate and preliminary economic assessment, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/164622

Categories
Junior Mining Precious Metals Uncategorized

Platinum price surges as speculators bet supply will run short

https://servedbyadbutler.com/creative-181210-3802616/index.html?clickTag=https%3A%2F%2Fservedbyadbutler.com%2Fredirect.spark%3FMID%3D181210%26plid%3D2058808%26setID%3D472441%26channelID%3D0%26CID%3D753328%26banID%3D520987628%26PID%3D0%26textadID%3D0%26tc%3D1%26adSize%3D0x0%26mt%3D1683083375239614%26sw%3D412%26sh%3D915%26spr%3D1.75%26referrer%3Dhttps%253A%252F%252Fwww.mining.com%252F%26hc%3D6e042cf92092b1f43be3097d2f0e92bb8b012039%26location%3D&clicktag=https%3A%2F%2Fservedbyadbutler.com%2Fredirect.spark%3FMID%3D181210%26plid%3D2058808%26setID%3D472441%26channelID%3D0%26CID%3D753328%26banID%3D520987628%26PID%3D0%26textadID%3D0%26tc%3D1%26adSize%3D0x0%26mt%3D1683083375239614%26sw%3D412%26sh%3D915%26spr%3D1.75%26referrer%3Dhttps%253A%252F%252Fwww.mining.com%252F%26hc%3D6e042cf92092b1f43be3097d2f0e92bb8b012039%26location%3D&__ab_location=https%3A%2F%2Fservedbyadbutler.com%2Fredirect.spark%3FMID%3D181210%26plid%3D2058808%26setID%3D472441%26channelID%3D0%26CID%3D753328%26banID%3D520987628%26PID%3D0%26textadID%3D0%26tc%3D1%26adSize%3D0x0%26mt%3D1683083375239614%26sw%3D412%26sh%3D915%26spr%3D1.75%26referrer%3Dhttps%253A%252F%252Fwww.mining.com%252F%26hc%3D6e042cf92092b1f43be3097d2f0e92bb8b012039%26location%3D&__ab_zone_id=472441&__ab_zone_name=MDC%20-%20Responsive%20Premium%20Top&__ab_publisher_id=96522&__ab_publisher_name=MDC%20%28Mining%20Dot%20Com%29&__ab_campaign_id=753328&__ab_campaign_name=Saudi%20Ministry%20of%20Industry%20and%20Mineral%20Resources%20%28MIM%29%20%7C%202023%20May%20%7C%20MDC%20%7C%20Responsive%20Leaderboard%20%7C%2020230501%20-%200531&__ab_advertiser_id=196087&__ab_advertiser_name=Saudi%20Ministry%20of%20Industry%20and%20Mineral%20Resources%20%28MIM%29.&__ab_banner_id=520987628&__ab_extra_data=&sw=412&sh=915&spr=1.75

Platinum price surges as speculators bet supply will run short

Reuters | May 2, 2023 | 2:08 pm Markets Africa Platinum 

Fund bets $7.4bn on sustaining platinum price rally

Stock image.

Platinum prices have shot up as speculators bet that power outages at South African mines and rising demand from auto makers and the hydrogen industry will create supply shortages.

Platinum is used to neutralize harmful engine emissions, as well as in other industries and jewellery. Prices leaped from just above $900 an ounce in late February to $1,132.17 on April 21 — the highest in more than a year — before easing to around $1,050 by Tuesday.

SIGN UP FOR THE PRECIOUS METALS DIGEST

SIGN UP

Charting platinum prices

Speculative investors have expanded their net long position in NYMEX platinum futures to 1.5 million ounces from 145,000 ounces in late February, exchange data show.

Exchange traded funds (ETFs) storing platinum for their shareholders meanwhile bought around 120,000 ounces in just a few days in late April, according to the World Platinum Investment Council (WPIC), which tracks funds.

Charting platinum prices and the net speculative position in NYMEX platinum
Exchange traded funds have increased their holdings of platinum

“We think this is the first year of serial deficits in the platinum market,” said Standard Chartered analyst Suki Cooper.

However, Cooper said prices could weaken in the short term before supply risks worsen later in the year.

South Africa produces 70-75% of mined platinum supply. Miners there have said rolling power cuts could cut their output by 5-15% this year, Cooper said, adding that Russian production may also disappoint.

“We’re now entering the winter period in South Africa and getting more frequent alerts on power outages,” she said. “The market is concerned.”

Demand from the auto industry — the biggest consumer of platinum — should rise by 8% this year as vehicle production increases, said StoneX analyst Rhona O’Connell.

O’Connell forecasts a 900,000 ounce deficit in the roughly 8 million ounce a year platinum market this year. The WPIC predicts a shortfall of around 500,000 ounces.

Investors also hope that large amounts of platinum will be used in the production and use of hydrogen.

But analysts at Macquarie said this could take years. “In our base case, the sector (across fuel cells and PEM electrolysers) would account for around 220,000 of demand in 2030 but be approaching 2 million ounces by 2040,” they wrote in a note.

Analysts at Macquarie expect the auto industry to use more than 3 million ounces of platinum a year in the coming years.

(By Peter Hobson; Editing by Alexandra Hudson)

  • Share

MINING.COM RECOMMENDS

Harmony Gold reports fatality at Kusasalethu mine

The company said the accident occurred on April 30 and that it had temporarily ceased work in the affected section.

Reuters | May 2, 2023 | 10:43 am

Hummingbird Resources expects first gold pour at Kouroussa this quarter

Kouroussa is forecast to produce an average of 100,000 ounces of gold per annum over an initial seven year LOM.

MINING.COM Staff Writer | May 2, 2023 | 9:09 am

Gold Fields partners Osisko in Canadian joint venture

The miner will acquire 50% of the Windfall gold project in Quebec.

Reuters | May 2, 2023 | 8:05 am

Endeavour Mining gold makes it to the Met Gala

Headpiece, earrings and rings wore by co-host Michaela Coel were made from more than 2kg of gold from the Ity mine in Côte d’Ivoire.

Staff Writer | May 2, 2023 | 6:51 am

Categories
Base Metals Energy Granite Creek Copper Junior Mining Metallic Group

Granite Creek Copper Provides Additional Detail for Acquisition of the LS Molybdenum Project in British Columbia, Canada

VANCOUVER, BC / ACCESSWIRE / May 2, 2023 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company” is pleased to provide additional detail on the acquisition of a 100% interest in the Lucky Ship molybdenum project (“LS Project”) from two arm’s-length vendors (“Vendors“), (see news release dated March 22,2023). The LS Project is located within the traditional territory of the Wet’suwet’en First Nation in central British Columbia and is in a region with a long history of mining, including the Endako molybdenum mine, the Huckleberry copper-molybdenum mine, the Equity silver mine, and others. The project is accessible year-round along a well-developed network of forestry roads, with a high-capacity power line within 50 kilometres and paved highway and rail line access within 85 kilometres.

Under the terms of the option agreement, the Company can acquire a 100% interest in the LS Project for the following consideration:

1. Issue the Vendors 3,7500,000 common shares as follows:

  • 500,000 shares within 10 days following TSXV approval;
  • 750,000 shares on or before the 12 month anniversary of TSXV approval (“Year One”);
  • 1,000,000 shares on or before the 24 month anniversary of TSXV approval (“Year Two”); and
  • 1,500,000 shares on or before the 36 month anniversary of TSXV approval (“Year Three”).
  1. Keep the LS Project in good standing by completing work, filing Portable Assessment Credit or paying cash in lieu thereof of: (i) a minimum number of work credits equal to two years’ assessment credit on or before the conclusion of Year One; (ii) a minimum number of work credits equal to two years’ assessment credit on or before the conclusion of Year Two; and (iii) a minimum number of work credits equal to four years’ assessment credit on or before the conclusion of Year Three (the “Work”).
  2. On completion of the share issuances and the Work, if the total aggregate cash value of the share issuances totals less than $300,000, then the Company will make a cash payment to the Vendors equal to the difference between the aggregate cash value of the share issuances and $300,000.

On exercise of the option agreement, the Company will grant the Vendors from and after commercial production an aggregate 2.0% net smelter returns royalty on the LS Project(the “NSR Royalty”). The Company shall have the right at any time to purchase the first 1% of the NSR Royalty for $500,000 and the remaining 1% NSR Royalty for $1,000,000.

The acquisition of the LS Project is subject to approval by the TSX Venture exchange.

Option Grant

Granite Creek further announces it has granted 300,000 incentive stock options (the “Options”) to a Director of the Company. The Options are exercisable for up to five years, expiring on May 2, 2028, and each Option will allow the holder to purchase one common share of the Company at a price of C$0.08 per share.

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 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., the advance staged LS Molybdenum project and the copper-nickel-PGM Star 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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO
Telephone: 1 (604) 235-1982
Toll-Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Metallic Group: www.metallicgroup.ca
Twitter: @yukoncopper

Forward-Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper 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, 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 companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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

SOURCE: Granite Creek Copper Ltd.

Categories
Base Metals Energy Junior Mining

Rover Metals’ CEO Discusses Global Lithium Geopolitical News and the Appointment of New Consultants

VANCOUVER, British Columbia, May 02, 2023 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) provides global geopolitical news on the lithium mining industry and announces the appointment of new consultants.

Geopolitical News
On April 21, 2023, Chile’s President, Gabriel Boric, announced plans to nationalize Chile’s lithium mining industry. Chile is the world’s second largest producer of lithium, and the country with the largest lithium reserves. Albemarle, a lithium miner, is one of the largest stakeholders in Chilean lithium production. Albemarle is also the owner of the Silver Peak lithium brine mine in southwest Nevada. Rover’s Let’s Go Lithium project is also located in the prolific southwest Nevada lithium jurisdiction, approximately 240 km (150 miles) from the Silver Peak lithium mine.

LGL Property Location Map

Judson Culter, CEO at Rover Metals, states, “Albemarle may start looking in their backyard in Nevada for future expansion opportunities. We certainly hope that they do. The news out of Chile in late April re-emphasizes the importance of developing lithium projects closer to EV manufacturing centres, in jurisdictions like Nevada. The ultimate goal here is to support the EV industry by bringing consistent raw material lithium supply to market. Lithium demand is forecasted to continually grow through to 2040.”

Appointment of Hybrid Financial
Hybrid Financial (“Hybrid”) has been engaged by the Company for a twelve-month period, commencing on May 1, 2023. Hybrid has been engaged to heighten market and brand awareness for Rover and to broaden the Company’s reach within the investment community. Hybrid is a sales and distribution company that actively connects issuers to the investment community across North America. Using a data driven approach, Hybrid provides its clients with comprehensive coverage of both American and Canadian markets. Hybrid Financial has offices in Toronto and Montreal.

Consultant Appointment and Stock Option Grant
The Company has hired a Zurich, Switzerland, based consultant to provide business development consulting services in the key markets of London, England, Paris, France, and Zurich, Switzerland. Pursuant to the consulting agreement, a stock option grant of 250,000 stock options with an exercise price of $0.12 under the standard terms of the Company’s stock option plan (4-year life), has been awarded.

About Rover Metals
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 the Let’s Go Lithium project.

The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of Canada and the U.S.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/

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.

Categories
Base Metals Dolly Varden Silver Energy Junior Mining Precious Metals

Dolly Varden Silver to Present at the Metals and Mining Hybrid Investor Conference May 11th

Virtual Investor Conferences
Virtual Investor Conferences

Company invites individual and institutional investors, as well as advisors and analysts, to attend in person or online at VirtualInvestorConferences.com

VANCOUVER, British Columbia, May 02, 2023 (GLOBE NEWSWIRE) — Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF), based in Vancouver, BC., focused on silver and gold exploration, today announced that Shawn Khunkhun, CEO & Director, will present live at the Metals and Mining Hybrid Virtual Investor Conference, hosted by VirtualInvestorConferences.com, on May 11th, 2023.

DATE: May 11th
TIME: 10:00am EST
LINK: https://bit.ly/433RPaN
Available for 1×1 meetings: May 11th, 2023.

This will be a live, interactive in-person and online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event. If you would like to attend the conference in-person at OTC Markets New York office, please contact events@otcmarkets.com

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

Recent Company Highlights

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, on-trend, 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).

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

CONTACTS:

Dolly Varden Silver Corporation
Shawn Khunkhun
President & CEO
+1 604 609 5137
sk@dollyvardensilver.com

Virtual Investor Conferences
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Options its Yarrol and Mt Steadman Projects in Australia to partner Many Peaks Gold

Vancouver, British Columbia, May 2, 2023 (NYSE American: EMX; TSX Venture: EMX; Frankfurt: 6E9) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to announce the execution of an exploration and option agreement for EMX’s Yarrol and Mt Steadman Projects in Queensland, Australia (the “Projects”) to Many Peaks Gold (ASX:”MPG”). The agreement provides EMX with cash payments, additional equity interests in MPG and work commitments during a fifteen month option period. Upon exercise of the option EMX will receive additional payments of cash and shares of MPG along with annual advance royalty payments, royalty interests and other considerations. 

The Yarrol Project contains zones of gold and copper mineralization in addition to newly discovered areas with cobalt-enriched manganese oxide mineralization and heavy mineral sands deposits (see Figures 1 and 2). The Mount Steadman Project contained historically defined zones of gold mineralization in addition to areas of historic gold mining activities (see Figures 1 and 3). Both projects were acquired by EMX as part of recent regional assessments of prospectivity in eastern Australia via purchase agreements with third parties, and then greatly expanded by EMX via filing of exploration license applications.

MPG is currently an EMX partner on the Company’s nearby Queensland Gold project. Together with the Queensland Gold project, the addition of Yarrol and Mt Steadman to MPG’s portfolio builds a substantial property package with a diverse suite of mineral deposits and occurrences in central Queensland.

Commercial Terms Overview: All terms in US Dollars unless otherwise indicated. Upon execution, MPG will make a cash payment of $150,000, issue 850,000 shares of MPG stock to EMX and 1,000,000 stock options, with each option being exercisable for one share of MPG at a price of AUD $0.34 for 36 months. 

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 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 December 31, 2022 (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.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location map for the Yarrol and Mt Steadman projects

image

[5] Mt Rawdon historic production numbers are cited from Evolution Mining website (2023/04/27). https://evolutionmining.com.au/wp-content/uploads/2023/04/Mt-Rawdon-fact-sheet-FY23F.pdf

Figure 2. Geological Map and Drill Hole Locations at Yarrol

image

Figure 3. Gold mineralization, historic soil anomalies and mine workings in the Chowey Goldfield, Mt Steadman Project

image

Historic soils results were collected by Probe Resources in 1995 and additional soils were collected by MGT Mining in 2019 to refine the anomaly.[6]

[6] Soil results are reported in MGT Mining Annual Report EPM 12834 for reporting period ending in December 2019. EMX has not performed sufficient work to verify the published assay data, and these data should not be relied upon until they can be confirmed. However, EMX considers the results to be reliable and relevant.