Category: Junior Mining

Collective Mining Begins Mobilizing a Fourth Drill Rig to Test Six New High-Grade Porphyry Targets Within a 400 Metre Radius of the Apollo System

Post author By admin
Post date April 18, 2023

Exploration fieldwork has identified six well mineralized and outcropping porphyry and related style targets within a 400 metre radius of the Apollo system with assay results for soil and rock samples as follows:
Surface mapping at all six targets has outlined the same style of porphyry mineralization as the Apollo system, namely altered porphyry with vein stockwork, inter-mineral breccia with oxide followed by sulphides in the matrix and overprinting late-stage porphyry veins (“CBM Veins”).
Although the amount of rock and soil exposure in the sampling radius covering each of the six target areas is limited due to vegetation, historical landslides and volcanic ash cover, the scale of the areas and tenor of the assay results are similar to the original outcrop of the Apollo system. The Company estimates that there is no more than 5% rock exposure anywhere at the Guayabales project.
For comparison, the outcrop of the Apollo porphyry system prior to drilling only measured 10 metres in diameter. Subsequent drilling has outlined a porphyry system that to date measures 150 metres by 130 metres at surface, which then expands in dimensions quickly at depth to up to 500 metres wide and remains open.
Surface sampling was carried out in oxidized material and if the oxidation zone shares similar characteristics to the Apollo system, the copper and silver grades have been reduced by leaching. Recent drill results from Pad 6 and Pad 7 at Apollo corroborates this assertion.
A fourth drill rig is being mobilized to the project and is expected to initiate testing of the six new targets in late Q2, 2023.
Six additional holes have been completed at the Apollo system with assay results expected in the near term. APC-41, APC-42 and APC-45 are shorter holes designed to test the contact zones between the inter-mineral breccia and porphyry host rock in search of higher-grade sub zones. APC-44 and APC 46 are longer holes (up to 425 metres in mineralization) drilled from Pad 6 as part of a fan pattern to assess the shallow mineralization in this area and APC-47 is an exploratory hole drilled to the east from Pad 4 to test for mineralization beginning from below surface.

Ari Sussman, Executive Chairman commented: “The discovery of these new mineralized porphyry outcrops around Apollo are both exciting and significant for the Company. The original discovery outcrop of Apollo only covered a 10 metre radius and subsequent drilling has demonstrated that Apollo has the morphology of an inverted carrot with limited surface expression. This fact puts these new targets into perspective and highlights that the Apollo area is highly prospective for further exploration. We only found these new outcrops because of various recently excavated tracks emplaced to service and supply the drilling pads. I am looking forward to new drill rigs turning at these targets in the near term.”

TORONTO, April 18, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce exploration results from six newly generate porphyry and related style targets located within the Apollo target area at the Guayabales project located in Caldas, Colombia. The Apollo porphyry system 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 body currently measuring 395 metres x 385 metres x 915 metres and open for expansion.

Details (See Table 1 and Figures 1-3)

Exploration fieldwork has identified six target areas with outcropping porphyry style mineralization which are located within a 400 metre radius of the Apollo porphyry system. These new targets were generated by geological mapping, soil sampling and most importantly the emplacement of new tracks to enable supplies and equipment to be transported to the current drill pads in the area. Two key characteristics pertinent to understanding the potential impact of the targets and their associated metal values in rock and soil are as follows:

Collectively, the targets consist of all the same mineralization styles observed in the Apollo system, namely early-stage porphyry style with various porphyry veinlets, inter-mineral breccia, and late stage CBM veins which host higher values of gold and silver. The copper values range between 31 ppm and 1,410 ppm and reflect leaching of copper and silver due to surface oxidation. The leaching of copper in oxides at Apollo has been observed in all oxidized material drilled from Pad 6 and Pad 7. Copper values near surface in these drill holes display very similar grades to those observed in the six outcrops outlined in this release. Gold values range from 0.18 g/t to 8.29 g/t and silver values from 0.2 g/t to 346 g/t with variation in both cases related to the mineralization styles encountered.

Cognizance must be taken of the surface area and 3D morphology of the Apollo porphyry system when assessing these new porphyry outcrops. The original Apollo discovery outcrop was only 10 metres in diameter and was the only exposure identified prior to the drilling of discovery hole APC-1. The discovery outcrop had gold, silver, and copper values in the ranges of 0.07 to 4.1 g/t gold, 1.9 to 29 g/t silver and 377 to 1,023 ppm copper. After the erection of multiple drill pads, another two outcrop areas were located at Apollo following the construction of various tracks which were emplaced to service the various drill rigs with equipment and supplies. There is only approximately 5% outcrop exposure at the Guayabales project due to the dense vegetation and the covering of primary rock surfaces by historic landslide fill and young volcanic ash. Furthermore, drilling at the Apollo deposit has demonstrated that the surface expression is relatively small with a maximum known diameter at present of 150 metres whereas at depth this expands quickly to a known diameter of up to 500 metres. The deposit is still open in all directions.

The following brief descriptions and data are summarized for each outcrop target:

Target 1:

This target is located 200 metres west of the Apollo outcrop area. This outcrop has dimensions of 20 metres by 3 metres and hosts early-stage porphyry mineralization as well as clast supported crackle breccia with an iron oxide matrix cement of 3% to 5% in volume. Drusy quartz veining is superimposed on the breccia. Pervasive and strong sericite alteration overprints the rock exposures. Gold grades range from 1.13 g/t to 0.34 g/t with silver ranging from 0.2 g/t to 6.6 g/t and copper in the range of 90 ppm to 224 ppm.

Target 2:

This target is located 300 metres northeast of the Apollo system, has outcrop dimensions of 120 metres by 60 metres and contains a couple of historical and shallow artisanal mines. Geological mapping has identified altered porphyry hosting angular breccia with quartz diorite clasts. The matrix of the breccia has total sulphides of up to 5% which is predominantly pyrite with some chalcopyrite. CBM veinlets overprint the breccia and trend NW and EW. Alteration is strong and defined by sericite and chlorite. Gold values range from 8.29 g/t to 1.51 g/t, silver from 10 g/t to 346 g/t and copper from 72 ppm to 362 ppm.

Target 3:

Target 3 is located 300 metres east-northeast of the Apollo system and has outcrop dimensions of 15 metres by 3 metres. The outcrop area hosts angular breccia with quartz diorite clasts with an iron oxide cement (1%-2%) after sulphides. Strong Sericite-chlorite alteration is observed. The target has subsequently been expanded to 75 metres by 170 metres by anomalous gold in soil values. Rock samples range from 0.18 g/t to 0.63 g/t gold, silver ranges from 2 g/t to 68 g/t and copper from 43 ppm to 277 ppm.

Target 4:

This target is located 250 metres east of the Apollo system with dimensions measuring 20 metres x 4 metres and host crackle breccia of diorite composition and altered porphyry rocks. Breccia cement hosts 2%-3% iron oxide after sulphide while both the porphyry and breccia units are overprinted by CBM veinlets. Strong sericite alteration is observed in the outcrop. The target has been expanded to 150 metres by 100 metres by anomalous gold in soil values. Rock samples range from 0.90 to 4.31 g/t gold, 1 g/t to 56 g/t silver and copper ranges from 125 ppm to 323 ppm.

Target 5:

This target area is located 100 metres due east of the Apollo system and has dimensions measuring 15 metres by 10 metres. Geology observed includes altered porphyry, angular breccia and late stage CBM veinlets. The breccia matrix hosts 3%-5% iron oxides after sulphide with strong sericitic alteration. Anomalous soil sample results for gold have expanded the target area to 200 metres by 100 metres. Rock samples range from 0.56 g/t to 5.59 g/t gold, 6 g/t to 70 g/t silver and copper ranges from 477 ppm to 833 ppm.

Target 6:

This target area is located 400 metres due southeast of the Apollo system and outcrops over a 30 metre diameter area. The outcrop hosts angular, polymictic, clast supported breccia (diorite and quartz diorite) and altered porphyry with quartz veinlets. The matrix cement hosts visible sulphides of 3%-5% and consists of chalcopyrite, sphalerite, galena and pyrite. Rock samples range from 0.39 g/t to 1.07 g/t gold, 6 g/t to 20 g/t silver and copper ranges from 32 ppm to 1,410 ppm.

Update on Apollo Drilling Progress

The Phase II drilling program of 2023 is advancing on schedule with thirteen holes completed and a further six holes in the lab awaiting assay results. Since the discovery of the Apollo porphyry system was announced in June 2022, a total of 44 drill holes (approximately 18,978 metres) have been completed and assayed.

Six additional holes have been completed from the three current drill pads with assay results expected in the near term. APC-44 and APC-46 are long holes drilled in westerly direction with continuous visual mineralization of up to 425 metres. APC-41, APC-42 and APC-45 are shorter holes designed to test the contact zones between breccia and porphyry in potentially higher-grade areas. APC-47 is an exploratory hole drilled to the east from Pad 4. Assay results are expected in the near term.

The Company presently has three diamond drill rigs operating at the Apollo project and additional assay results are expected in the near term.

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.

Table 1: Assay Results for Sampling Undertaken on Targets 1 to 6 in the Apollo Target Area

Target #	Sample Type	Au (g/t)	Ag (g/t)	Cu (ppm)
Target 1	Rock	0.43	0.2	90.1
Target 1	Rock	0.34	0.2	104.8
Target 1	Rock	0.88	1.8	154.0
Target 1	Rock	0.91	0.6	121.1
Target 1	Rock	1.13	6.6	224.3
Target 2	Rock	1.51	10.3	71.8
Target 2	Rock	7.06	46.6	146.0
Target 2	Rock	4.10	78.0	254.0
Target 2	Rock	4.55	19.8	309.0
Target 2	Rock	8.29	345.6	424.5
Target 2	Rock	6.55	217.2	362.0
Target 3	Rock	0.18	3.4	155.9
Target 3	Soil	0.43	67.7	43.0
Target 3	Soil	0.63	2.2	277.0
Target 4	Rock	2.97	35.6	322.9
Target 4	Soil	0.90	1.3	131.1
Target 4	Soil	2.88	56.0	198.2
Target 4	Soil	4.31	1.2	124.6
Target 4	Rock	1.28	27.9	186.5
Target 5	Rock	5.59	57.5	833.1
Target 5	Rock	2.70	69.7	539.6
Target 5	Rock	2.41	32.7	507.7
Target 5	Soil	0.56	5.6	477.0
Target 6	Rock	0.60	19.8	1410.0
Target 6	Rock	0.39	15.8	217.3
Target 6	Rock	0.95	16.4	41.9
Target 6	Rock	0.65	6.0	31.5
Target 6	Rock	1.07	13.1	132.3

Note: The values on the table correspond to rock chip and soil samples and should not be relied upon as being representative of average grades anticipated in any future resource estimate or mining scenario. Sample grades are uncapped and do not represent true width of the mineralization.

Rock and Soil 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.

Figure 1: Location and Assay Results of Rock and Soil Samples Taken From the Six Newly Generated Porphyry and Related Style Targets Surrounding the Apollo System (CNW Group/Collective Mining Ltd.)

Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

Figure 3: Angular and Crackle Breccia in Target 6 (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 expansion the overall dimensions of the system, which remains open in all 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 (@Ariski) 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.

Collective Mining Logo (CNW Group/Collective Mining Ltd.)

SOURCE Collective Mining Ltd.

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Energy Junior Mining Silver Bullet Mines

Silver Bullet Mines Corp. Announces Cash Advance on First Order

Post author By admin
Post date April 17, 2023

Burlington, Ontario–(Newsfile Corp. – April 17, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces it has entered into a cash advance from a purchaser of SBMI’s silver products (the “Purchaser”).

SBMI has previously announced an order for 50 kilograms of silver from the Purchaser, which order has since been increased to 500 kilograms (17,600 oz) of silver. The Purchaser has indicated a willingness to purchase 17,600 oz of silver from SBMI every month for the foreseeable future. Management reasonably believes SBMI has the capability to fill such monthly orders.

The Purchaser and SBMI have since entered into an agreement whereby the Purchaser would advance USD$225,000 against the first delivery of silver to it by SBMI. This advance would be secured by a conditional convertible debenture (the “Debenture”). The Debenture only becomes convertible in the event SBMI does not deliver USD$225,000 of silver to the Purchaser within 60 days of SBMI receiving the USD$225,000 advance. This amounts to a little more than 9,000 oz of silver, depending upon the spot price at the time of delivery.

The principal amount of the Debenture would decrease as SBMI delivers silver to the Purchaser, and would expire upon the delivery of USD$225,000 worth of silver to the Purchaser. Once SBMI has delivered USD$225,000 worth of silver to the Purchaser, the Debenture would expire. The Debenture would accrue interest at the rate of 3% per month on the outstanding principal for one month, which interest begins to accrue after 30 days. After 60 days either the interest converts with the Debenture, or if SBMI has delivered USD$225,000 worth of silver to the Purchaser the obligation to pay interest would expire.

The funds would be advanced by the Purchaser immediately after SBMI receives regulatory approval for the Debenture, and would be used for working capital purposes.

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/162627

Base Metals Collective Mining Energy Junior Mining

Collective Mining Drills 271.30 Metres at 3.35 g/t Gold Equivalent from Surface and Expands the Dimensions of the High-Grade Shallow Zone of the Apollo Porphyry System to the West

Post author By admin
Post date April 11, 2023

Hole APC-43, cut the longest continuous interval drilled to date of high-grade copper-silver-gold mineralization beginning at surface from Pad 7 at the Apollo system with results as follows:
Step out drill hole APC-40 also intercepted high-grade copper-silver-gold mineralization beginning from surface as follows:
APC-40 successfully extended the strike length of the shallow mineralization to the west of the previously known mineralization envelope and as a result has expanded the maximum known area of shallow mineralization to 150 metres X 130 metres (previously 130m X 130m).
The grade tenor and continuity of the intersections in APC-40 and APC-43 reflect an increased understanding of the dip and geometry of the southernmost, high-grade portion of the Apollo system. The surface dimensions of the shallow mineralization remain open for further expansion with drill holes from newly completed Pad 9 and Pad 10 now underway.
Five additional holes have been completed from Pad 6 and Pad 7 with assay results expected in the near term. APC-44 is the longest hole drilled to date as part of the shallow drilling program and cut more than 425 metres of continuous visual mineralization beginning at surface. APC-41 and APC-42 were shorter holes designed to test the contact between the breccia and the quartz diorite porphyry with very intense late-stage porphyry veining observed in APC-42. Assay results are expected in the near term.
The Company has commenced a long step out drill hole of up to 1,000 metres to the northwest from Pad 6. Presently, the hole (APC-49) is cutting mineralization, which began at surface, to its current depth of 783 metres.

Ari Sussman, Executive Chairman commented: “The latest assay results continue to demonstrate that the Apollo system has world-class grades for an outcropping bulk tonnage porphyry system. With a strong treasury now in hand due to the recently closed financing, the Company will aggressively look to expand the Apollo system with step out deep drill holes like APC-49 currently underway and by testing satellite targets within the Apollo area. More details on the revised and expanded drilling plan for the remainder of 2023 will be provided shortly.”

TORONTO, April 11, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from an additional two drill holes completed from Pad 7. Drilling at Apollo in 2023 has been focused on discovering and defining shallow, high-grade mineralization below surface outcrops. With additional financing in place, the Company has expanded the aim of the program to include long step out holes. The Apollo porphyry deposit 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 body currently measuring 395 metres x 385 metres x 915 metres and open for expansion.

Details (See Table 1 and Figures 1-5)

The Phase II drilling program of 2023 is advancing on schedule with eleven holes completed and a further five holes in the lab awaiting assay results. Since the discovery of the Apollo porphyry system was announced in June 2022, a total of 42 drill holes (approximately 18,000 metres) have been completed and assayed. Assay results and geological observations for APC-40 and APC-43 are summarized below.

APC-40 was drilled to the southwest from Pad 7 to a maximum downhole depth of 214.55 metres and was targeted to intersect the contact zone between the mineralized breccia and the adjacent porphyry mineralization to the southwest. The hole intersected continuous and strong copper, silver and gold mineralization from surface bedrock to a depth of 169.25 metres (188 metres vertical due to topography) with the following assay results highlighted below:

169.25 metres @ 2.81 g/t gold equivalent (consisting of 1.93 g/t gold, 19 g/t silver and 0.38% copper) including:

The mineralized interval starts from 1.5 metres depth with saprolite material followed by saprock and then continues with iron oxides and sulphides until a downhole depth of 18.25 metres. Below the oxide transition zone, the intercept passes into fresh rock consisting of quartz diorite breccia with a matrix of chalcopyrite (0.5% to 1.2%), pyrite (up to 1.5%) and 1% pyrrhotite. Higher-grade zones encountered from 18.25 metres and 87.85 metres downhole reflect zones with a higher percentage of sulphides plus quartz and carbonate in the matrix and reflect areas of higher permeability within the porphyry system.

APC-43 was drilled to the northwest from Pad 7 to a maximum downhole depth of 293 metres. The hole targeted the steeply dipping, southern high-grade zone as outlined by previous drilling from Pad 7 (Holes APC-36 and APC-38). The hole intersected continuous mineralization from surface outcrop to a downhole depth of 271.30 metres (282 metres vertical due to topography) with assay results as follows:

271.30 metres @ 3.35 g/t gold equivalent (consisting of 2.37 g/t gold, 23 g/t silver and 0.42% copper) including:

The mineralized interval starts from surface to 3.9 metres depth within saprolite material followed by an additional 8.1 metres of saprock with iron oxides to 12 metres before transitioning into a zone with an oxidized sulphide matrix. From 19.30 metres the intercept passes into fresh rock with a sulphide composition of 0.5% to 1.3% chalcopyrite, 1.8% pyrite and pyrrhotite (up to 1.3%). The higher-grade zones commencing at 19.30 metres and 214.70 metres downhole relate to zones with a higher percentage of sulphides plus quartz and carbonate in the matrix and reflect areas of higher permeability within the porphyry system.

The grade tenor and continuity of the intersections in APC-40 and APC-43 reflect an increased understanding of the dip and geometry of the southern, high grade portion of the Apollo porphyry as gained from previous initial drilling in this area (holes APC-36 and APC-38, see press release dated March 30, 2023 for further details). Outcropping mineralization in the south dips steeply to the northwest and APC-43 has extended the mineralization another 100 metres vertically in this direction. APC-40 has extended the known area of shallow mineralization laterally and now measures 150 metres X 130 metres (previously 130 metres X 130 metres).

Outcrop mapping and sampling in the south and central portions of the system has outlined a 150 metre-by-130 metre area of known surface mineralization, which is open in all directions. Pads 6 and 7 have been designed with the objective of understanding the styles and tenor of the shallow, high-grade mineralization from surface down to depths of up to 400 metres and Pad 6 is ideally situated for further step out holes to understand grade continuity at depth. In particular, short holes from Pad 6 (APC-41 and APC-42) have been targeted to intersect high grades at the contact zone between breccia and porphyry as previously announced in APC-29 which intersected 32 metres @ 10.48 g/t gold equivalent from a downhole depth of 112.10 metres below surface. (see press release dated January 31, 2023)

Deep drilling (APC-49) has recently commenced from Pad 6 with visuals highlighting continuous porphyry and breccia style mineralization from surface to its current depth of 783 metres. Drilling of APC-49 continues as of publication of this release and represents the longest mineralized intercept drilled to date into the Apollo system.

Five additional shallow drill holes have been completed from drill Pads 6 and 7 with fan drilling in various directions extending the outcropping mineralization to the west and northeast. Visual observations indicate continuous mineralization from surface over core lengths ranging from more than 80 metres to more than 425 metres. The Company presently has three diamond drill rigs operating at the Apollo project and additional assay results are expected in the near term.

Two new pads have recently been completed (Pad 9 and Pad 10) with drilling underway from both pads. The pad locations were chosen in order to provide more drilling options to test the potential for westerly and easterly extensions of the shallow portion of the Apollo system.

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.

Table 1: Assays Results for APC-40 and APC-43

Hole #	From (m)	To (m)	Intercept Interval(m)	Au (g/t)	Ag (g/t)	Cu %	Mo %	AuEq (g/t)*	CuEq (%)*
APC-40	1.50	170.75	169.25	1.93	19	0.38	0.003	2.81	1.50
Incl**	1.50	18.25	16.75	2.90	16	0.18	0.002	3.37
	18.25	30.20	11.95	9.45	8	0.16	0.002	9.57
	87.85	132.70	44.85	2.58	30	0.61	0.005	3.99
APC-43	–	271.30	271.30	2.37	23	0.42	0.002	3.35	1.79
Incl**	–	19.30	19.30	4.02	6	0.16	0.002	4.28
	19.30	51.60	32.30	4.39	9	0.14	0.004	4.65
	127.80	144.70	16.90	4.02	17	0.32	0.002	4.71
	214.70	256.75	42.05	5.07	12	0.11	0.002	5.29

*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.

(**) Zone of Oxidation

Figure 1: Plan View of the Apollo Porphyry System Highlighting Drill Holes APC-40 & APC-43 (CNW Group/Collective Mining Ltd.)

Figure 2: NW – SE Cross Section Highlighting APC-43 and APC-36 (CNW Group/Collective Mining Ltd.)

Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

Figure 4: Core Photo Highlights from Drill Hole APC-40 (CNW Group/Collective Mining Ltd.)

Figure 5: Core Photo Highlights from Drill Hole APC-43 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Qualified Person (QP) and NI43-101 Disclosure

Technical Information

Rock 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 (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

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.

Collective Mining Logo (CNW Group/Collective Mining Ltd.)

SOURCE Collective Mining Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/April2023/11/c5675.html

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

Metallic Minerals Drills 1,310 g/t Ag Eq within 6.7 Meters of 196 g/t Ag Eq at Caribou Target at the Keno Silver Project in Yukon, Canada and Retains SGS for Inaugural Resource Estimates

Post author By admin
Post date April 10, 2023

VANCOUVER, BC / ACCESSWIRE / April 10, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce final results from the 2022 exploration program at its 100% owned high-grade Keno Silver project in the historic Keno Silver District of Yukon, Canada. A total of 642 meters (m) were drilled in six (6) holes at the Caribou target in the Central Keno area to test extensions of known high-grade and bulk-tonnage mineralization. This work was completed as part of a larger 3,265 m drill program focused on target extension drilling at our advanced-stage “resource-ready” targets (Caribou, Formo and Fox) in anticipation of an inaugural NI 43-101 mineral resource estimate for the Keno Silver project in 2023.

Highlights

Drilling at the Caribou target continues to successfully extend high-grade silver mineralization both down-dip and south along strike of the known extents of the Caribou structure with a total of 71 intercepts in 5,980 meters of drilling to date.
Hole CH22-01 intersected two separate higher grade vein intervals within a broad zone of bulk tonnage mineralization. From 91.5 to 92.0 meters a 0.5 m interval contained 348 (g/t) silver equivalent (“AgEq”) (see Table 1, Footnote 1) and 125.2 to 125.7 m the hole intercepted 0.5 m of 1,201 g/t Ag Eq bounding a zone of 34.2 m grading 38 g/t Ag Eq.
The southernmost drilling at the Caribou target, first drilled in 2021, continues to demonstrate strong potential for further extension with 1,310 g/t Ag Eq encountered over 0.5 m at a near-surface depth of 44 m in hole CH22-05.
The Company has retained SGS Geological Services to complete the inaugural resource estimate and modelling work is underway.

Metallic Minerals President, Scott Petsel, stated, “The Caribou vein target in the Central Keno Area is a classic example of “Keno-style” high-grade Ag-Pb-Zn vein mineralization and shows excellent potential for resources of significant scale. As one of five near-term resource targets on the property, Caribou has consistently returned grades over 1,000 g/t Ag Eq and, more recently, has been recognized as a potential bulk tonnage target returning widths of mineralization up to 34.2 meters of potentially economic grades in a shallowly dipping configuration.”

Metallic Minerals Corp., Monday, April 10, 2023, Press release picture

“With high-grade results at the Caribou, Formo and Fox area targets, along with the continued delineation of broad bulk tonnage mineralization near surface, we are continuing to demonstrate the extensive exploration potential of the district. We look forward to completing a first resource for the Keno Silver project in the second half of 2023 and are also expecting to announce a resource update on our La Plata Project in Colorado in Q2, following the exceptional drill results announced on February 28^th, 2023.”

John Tumazos Virtual Conference

Metallic Minerals will join fellow Metallic Group company, Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF), during John Tumazos’ Very Independent Research virtual conference, with a joint presentation followed by Q&A from 2:15pm – 3:15pm Pacific Time on April 12^th. To register, click here.

Central Keno Hill Silver District

The central part of the Keno Hill Silver District is host to over 100 million ounces of past production and current Indicated resources in shallow deposits that, to date, have not previously seen systematic exploration to depth or along strike. Central Keno was one of the original discovery areas in the region and hosted the historic producing Keno Hill mine, along with eight other high-grade deposits including those on Metallic Minerals land holdings. Metallic Minerals’ work to date in this area shows the presence of a major structural corridor that is comparable in surface expression and structural setting to the +150 million-ounce Bermingham-Calumet system in the extensively explored western part of the district.

Caribou Target Area

The road accessible Caribou target in the central part of the district is one of the most advanced individual targets at the Keno Silver project. Eighty-three (83) drill holes totalling 5,980 m (a 72 m average hole depth), have been drilled since 2008 at Caribou making it the Keno Silver project’s most drilled target area. The Caribou deposit historically produced very high-grade material grading more than 1,000 g/t silver from near surface and is interpreted to be a significant connecting structure between the main shear structures in the Keno Summit structural corridor. The Caribou deposit spatially occurs within a high-level silver-in-soil anomaly of over 10 g/t Ag Eq that extends over 2.5 km long by 1.5 km in width and that remains open to expansion.

Figure 1 – Keno Silver District Geology and Deposits

Mineralization at the Caribou target consists of high-grade, north-striking Ag-Pb-Zn structures with a shallow 34-degree dip. Exploration on the high-grade vein structure has also defined a surrounding envelope of broader bulk tonnage mineralization. These broader zones of mineralization not only include wide veins but also parallel veinlets, stringers and breccia zones. In the 2021 and 2022 drilling of the broader Caribou zone returned intervals up to 34.2 m wide (averaging 18.2 m), with grades between 35.2 g/t Ag Eq and 134 g/t Ag Eq. These wide widths combined with a shallow dip and a near surface environment (deepest intercept is only 120 m from surface), make this bulk tonnage and high-grade mineralization potentially amendable to low cost, bulk tonnage mining methods.

Similarly, the Fox and Formo targets also show broader zones of mineralization that may be amenable to lower cost mining methods, as was successfully demonstrated in the Keno District at the Hector Calumet and Onek deposits by United Keno Hill Mines in the 1980s¹.

Table 1 – Highlights of 2022 Drilling from the Caribou Target Area

Hole	From(m)	To(m)	Length (m)	Ag Eq (g/t)	Ag(g/t)	Au(g/t)	Pb(%)	Zn(%)

CH22-01	91.5	125.7	34.2	38.0	16.0	0.11	0.11	0.24
incl	91.5	92	0.5	347.7	205.0	0.04	2.51	1.68
and	104.6	105.1	0.5	170.4	65.0	0.21	1.45	1.07
and	124	125.7	1.7	470.9	183.9	1.70	0.71	2.99
and	125.2	125.7	0.5	1201.1	548.0	2.90	1.77	8.75
CH22-02	94.5	126.6	32.1	35.2	18.9	0.06	0.10	0.21
and	112	112.5	0.5	459.0	176.0	0.55	1.92	4.30
and	126.1	126.6	0.5	849.8	529.0	1.07	3.03	3.76
CH22-03	9.9	10.43	0.53	134.5	58.0	0.09	1.97	0.26
CH22-04	12.4	12.9	0.5	179.1	74.0	0.09	2.75	0.37
CH22-05	37.5	44.2	6.7	195.8	99.0	0.07	0.14	2.12
incl	38.64	39.5	0.86	421.3	361.0	0.19	0.41	1.14
and	43.67	44.2	0.53	1310.0	356.0	0.01	0.04	22.44
CH22-06	50	59	9.0	26.3	15.5	0.02	0.05	0.20

Notes to reported values:

Ag equivalent is presented for comparative purposes using conservative long-term metal prices (all USD): $20.0/oz silver (Ag), $1,800/oz gold (Au), $1.00/lb lead (Pb), $1.40/lb zinc (Zn).
Recovered Silver Equivalent in Table 1 is determined as follows: Ag Eq g/t = [Ag g/t x recovery] + [Au g/t x recovery x Au price/ Ag price] + [Pb % / 10,000 x recovery x Pb price / Ag price] + [Zn% / 10,000 x recovery x Zn price / Ag price].
In the above calculations: 1% = 10,000 ppm = 10,000 g/t.
The following recoveries have been assumed for purposes of the above equivalent calculations: 95% for precious metals (Ag/Au) and 90% for all other listed metals, based on recoveries at similar nearby operations.
Intervals are reported as measured drill intersect lengths and may not represent true width.

Figure 2 – Caribou Area Plan Map

Recap of 2022 Exploration at the Keno Silver Project

Metallic Minerals completed 3,265 m meters of diamond drilling in 23 holes at the Keno Silver Project during 2022 with the aim of extending advanced-stage “resource-ready” targets in anticipation of an inaugural resource estimate for the project in 2023. Additionally, LiDAR data collection and ground based geophysics were completed to further support project advancement and target generation.

These final Caribou results from drilling during the 2022 field exploration program caps-off what was an exceptional year at the Keno Silver Project with 138 significant intervals of greater than 100 g/t Ag Eq and 22 intervals over 500 g/t Ag Eq drilled within 23 holes. A robust drill program focused on continued resource expansion and to test new targets is being planned for 2023.

About Metallic Minerals

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

Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Hecla Mining’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco Resources and their Keno Hill operations in September 2022. Hecla is targeting to start production at the Keno Hill operations by Q3 2023.

At the Company’s La Plata project in southwestern Colorado an inaugural NI 43-101 mineral resource estimate in April 2022 returned a significant porphyry copper-silver resource. Results from 2022 expansion drilling intercepted the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. An updated NI 43-101 resource estimate incorporating the latest drilling for La Plata is currently in progress.

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

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

FOR FURTHER INFORMATION, PLEASE CONTACT:

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

Footnotes:

Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850.

Qualified Person

The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals’ mineral properties has been reviewed and approved by Taylor Haid, P. Geo, Project Manager for TruePoint Exploration, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

Quality Assurance / Quality Control

All samples were assayed by 36 Element Aqua Regia Digestion ICP-MS methods at Bureau Veritas labs in Vancouver with sample preparation in Whitehorse, Yukon and geochemical analysis in Vancouver, British Columbia. Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish. Over-limit lead and zinc samples were analyzed by multi-acid digestion and atomic absorption spectrometry. All results have passed the QAQC screening by the lab and the company utilized a quality control and quality assurance protocol for the project, including blank, duplicate, and standard reference samples.

Forward-Looking Statements

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

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

SOURCE: Metallic Minerals Corp.

View source version on accesswire.com:
https://www.accesswire.com/748250/Metallic-Minerals-Drills-1310-gt-Ag-Eq-within-67-Meters-of-196-gt-Ag-Eq-at-Caribou-Target-at-the-Keno-Silver-Project-in-Yukon-Canada-and-Retains-SGS-for-Inaugural-Resource-Estimates

Base Metals Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Resources Announces Upsized $6 Million Private Placement

Post author By admin
Post date April 5, 2023

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce that, further to its news release dated March 23, 2023 and due to strong investor demand, it is increasing the size of its previously announced brokered private placement offering (the “Offering“) to up to $6,000,000 aggregate gross proceeds of securities of the Company (the “Offered Securities“). The Offering is being conducted by Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners (the “Lead Agents“), on their own behalf and on behalf of a syndicate of agents, including Laurentian Bank Securities Inc., Canaccord Genuity Corp., and Haywood Securities Inc. (together with the Lead Agents, the “Agents“). The Offering consists of the following Offered Securities:

units of the Company (each, a “Unit“) at a price of $0.17 per Unit, comprised of one common share of the Company (each, a “Common Share“) and one-half common share purchase warrant (each whole warrant, a “Warrant“); and
flow-through units of the Company (each, a “FT Unit“) at a price of $0.195 per FT Unit, comprised of one Common Share that will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada) (the “Tax Act“) and one-half of one Warrant.

Each Warrant shall entitle the holder thereof to acquire one Common Share at an exercise price of $0.25, for a period of 24 months following the Closing Date (as defined below).

The Company has granted the Agents an option (the “Agents’ Option“), which allows the Agents to offer up to an additional 15% of the Offering, on the same terms as the Offered Securities. The Agents’ Option may be exercised in whole or in part at any time prior to the Closing Date of the Offering.

The Company intends to use the net proceeds raised from the sale of Units for working capital and future exploration work on its Moss Lake gold deposit in Northwest Ontario, Canada.

The gross proceeds from the issuance of the FT Units will be used for “Canadian Exploration Expenses” within the meaning of the Tax Act (the “Qualifying Expenditures“), which will be renounced with an effective date no later than December 31, 2023 to the purchasers of the FT Units in an aggregate amount not less than the gross proceeds raised from the issue of FT Units. If the Qualifying Expenditures are reduced by the Canada Revenue Agency, the Company will indemnify each subscriber of FT Units for any additional taxes payable by such subscriber as a result of the Company’s failure to renounce the Qualifying Expenditures.

The Offering is scheduled to close on or about the week of April 12, 2023 (the “Closing Date“), or on such date as agreed upon between the Company and the Lead Agents, and is subject to the receipt of all necessary regulatory and other approvals, including, but not limited to, the approval of the TSX Venture Exchange. The Offered Securities will be subject to a hold period of four months and one day from the Closing Date in accordance with applicable securities laws.

The Company has agreed to pay to the Agents a cash commission equal to 6% of the gross proceeds of the Offering, subject to a reduction for certain orders on a “president’s list”. In addition, the Company has agreed to issue to the Agents compensation warrants of the Company exercisable for a period of 24 months, to acquire in aggregate that number of common shares of the Company which is equal to 6% of the number of Offered Securities sold under the Offering, subject to a reduction for certain orders on a “president’s list”.

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

Securities for Debt Transaction

The Company also announces that it has entered into an agreement to settle certain outstanding accounts payable in the aggregate amount of $513,157.18 (the “Debt“) owing to a creditor (the “Creditor“) through the issuance of 3,018,572 units (the “Debt Settlement Units“) at a deemed price of $0.17 per Unit (the “Securities for Debt Transaction“). The Debt Settlement Units will have the same terms as the Units issued pursuant to the Offering.

No new control person or insider of the Company will be created pursuant to the Securities for Debt Transaction. This is an arm’s length transaction.

The Company is proposing to issue the Debt Settlement Units to preserve cash to fund future operations. The Company’s board of directors believes that the Securities for Debt Transaction is necessary to provide the Company with a clean balance sheet to attract new capital and provide adequate hard dollar working capital into the second half of 2023.

The issuance of securities pursuant to the Securities for Debt Transaction is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.

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

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. is currently a large shareholder of Goldshore with an approximate 22% equity position in the Company. Supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.

For More Information – Please Contact:

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

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

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” 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. These forward‐looking statements or information relate to, among other things: receipt of all approvals related to the Offering; the intended use of proceeds from the Offering; the expected Closing Date of the Offering; the incurrence of Qualifying Expenditures; and exploration and development activities at the Company’s properties.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the expected closing date of the Offering, 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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161351

Base Metals Energy Junior Mining Precious Metals Silver Hammer

Silver Hammer Files NI 43-101 Technical Report for the Silver Strand Project in Coeur d’Alene Mining District of Idaho and Announces Voting Results from 2023 Annual General Meeting

Post author By admin
Post date April 5, 2023

Vancouver, British Columbia–(Newsfile Corp. – April 5, 2023) – Silver Hammer Mining Corp. (CSE: HAMR) (OTCQB: HAMRF) (FSE: 7BW0) (the “Company” or “Silver Hammer“) is pleased to announce that it has filed a National Instrument 43-101 compliant technical report (“Technical Report“) titled: Independent NI 43-101 Technical Report for the Silver Strand Gold-Silver Project (the “Project“), Kootenai County, Idaho, USA, on SEDAR.

“As we continue to evaluate our Silver Strand Project in Idaho, updating the 43-101 Technical Report is a positive step to fully understanding the exploration opportunity at the property. The recent completion of the geophysics compilation will help us target further priority exploration zones along the 5.8-kilometre-long Project,” commented President & CEO, Peter A. Ball. “We are currently completing our Plan of Operations, to be submitted to the United States Forest Service, which will highlight our exploration strategy for the coming seasons at the Project.”

The Technical Report was prepared in accordance with the Canadian Securities Administrators NI 43-101- Standards of Disclosure for Mineral Projects; and is available for review under the Company’s profile on SEDAR at www.sedar.com and the Company’s website at www.silverhammermining.com.

Annual General Meeting

The Company is also pleased to report results from its annual general meeting of the shareholders (“the AGM“) which took place on March 29, 2023, where all proposed resolutions were unanimously supported and all current board members of the Company re-elected, including Peter. A Ball (CEO), Alnesh Mohan (CFO), and independent directors, Lawrence Roulston, Ron Burk, and Joness Lang.

Qualified Person

Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland (CPG). Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource exploration company advancing its flagship past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada. Silver Hammer’s primary focus is defining and developing silver deposits near past-producing mines that have not been adequately explored. The Company’s portfolio also provides exposure to copper and gold discoveries.

On Behalf of the Board of Silver Hammer Mining Corp.

Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com

For investor relations inquiries, contact:

Kristina Pillon
High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

Forward-Looking Statements

This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation, the Company’s strategic plans, timing and expectations for the Company’s exploration and drilling programs, estimates of mineralization from drilling, geological information projected from sampling results and the potential quantities and grades of the target zones. Such forward-looking statements or information are based on a number of assumptions, which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; accuracy of assay results; geological interpretations from drilling results, timing and amount of capital expenditures; performance of available laboratory and other related services; future operating costs; and the historical basis for current estimates of potential quantities and grades of target zones. The actual results could differ materially from those anticipated in these forward-looking statements as a result of risk factors, including the timing and content of work programs; results of exploration activities and development of mineral properties; the interpretation and uncertainties of drilling results and other geological data; receipt, maintenance and security of permits and mineral property titles; environmental and other regulatory risks; project costs overruns or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and grades of the target zones based on historical data, and general market and industry conditions. Forward-looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/161269

Base Metals Diamcor Mining Junior Mining

Diamcor Announces Strong Tender and Sales Results For Fourth Fiscal Quarter Ending March 31, 2023

Post author By admin
Post date April 4, 2023

KELOWNA, BC / ACCESSWIRE / April 4, 2023 / Diamcor Mining Inc. (TSX-V.DMI), (OTCQB-DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announces today that despite the recent issues with the supply of consistent power in South Africa during the period, the Company was able to achieve strong results from the tender and sale of rough diamonds recovered from the limited processing of quarry material at the Company’s Krone-Endora at Venetia Project (the “Project”). In the Company’s fourth fiscal quarter ending March 31, 2023, a total of 3,310.67 carats of rough diamonds including two large gem quality diamonds in the specials category (+10.8 carats), generated gross revenues of USD $1,579,728.40, resulting in an average price of USD $477.16 per carat for the period.

Highlights

Large Gem Quality Diamonds. Two large gem quality rough diamonds in the specials category were sold in the period, a 72.5 carat and the 45.15 carat. The recovery and sale of these two rough diamonds continue to demonstrate the Project’s potential for large gem quality diamonds to be recovered, and their ability to enhance revenues and the overall average dollar per carat achieved in any given period.
$477.16 per Carat Average. Despite the limitations in the volume of quarry material able to be processed at the Project during the period, the recovery of the two larger gem quality rough diamonds served to enhance both gross revenues and the average US dollar per carat during the period.
Power Supply Management. The Company has been proactive in managing the well-documented recent power issues with Eskom, South Africa’s national power supplier, and will continue to manage its operations to maximize efficiencies where possible in the processing of quarry material for the short-term. The procurement and installation of the previously announced globally recognized tier 1 Battery Energy Storage System (BESS), power conditioning, switching systems, and generator backups remains a key focus of the Company and is targeted for completion by the end of calendar Q2. Once installed, the Company believes this system will serve to significantly reduce, or eliminate, the impact of any potential future power supply issues at the Project for the long-term.

“We are very encouraged by the results achieved during the period, which again demonstrates our operational team’s continued ability to adapt to various situations and execute strategies aimed at minimizing the impact of such events where possible,” stated Mr. Dean Taylor, Diamcor’s CEO. “We will continue to manage the current operational limitations in the short-term while advancing additional objectives aimed at planned growth into the greater surrounding areas of the Project, and expedite the finalization of the power system to allow us to resume our primary goal of increasing processing volumes at the Project.”

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.

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 then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. 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 in two layers 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.

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.

Base Metals Energy Junior Mining Precious Metals Silver Hammer

Silver Hammer Identifies 15 New Priority Exploration Targets from Recent Geophysical Compilation At its Silver Strand Project

Post author By admin
Post date April 3, 2023

Vancouver, British Columbia–(Newsfile Corp. – April 3, 2023) – Silver Hammer Mining Corp. (CSE: HAMR) (OTCQB: HAMRF) (FSE: 7BW0) (the “Company” or “Silver Hammer“) is pleased to announce that it has recently completed a property-wide geophysical compilation at its Silver Strand Project in Idaho. Results were very positive and highlighted multiple new priority targets for the Company’s 2023 exploration program.

“Silver Hammer is excited to discover 15 new priority exploration target zones from our recently completed geophysical compilation using data from 2004 to 2022,” commented President & CEO, Peter A. Ball. “Most of the new targets within the property are located in the Revett Formation, which hosts our Silver Strand Mine. The same silver belt is within the renowned Coeur d’Alene mining district in Idaho that has produced over 1.2 billion ounces of silver and is host to some of the world’s largest silver mines. We are currently finalizing our submission of a Plan of Operations to the United States Forest Service, and with the new target zones, we anticipate an active year of exploration at our Silver Strand project.”

Geophysical Compilation Summary

Fifteen moderate to priority exploration target zones were identified from the geophysical surveys. The highest ranked targets are associated with chargeability anomalies and moderate to low conductivity. Most of the targets are located within the Revett Formation, which hosts the Silver Strand Mine.

The targets primarily identified from the Direct Current Induced Polarization (“DCIP“) results are considered moderate to high priority for follow-up, because these areas most closely resemble the responses identified around the Silver Strand Mine. These targets will be scheduled for ground follow-up to investigate the geological sources of the responses, and further geological interpretation of the geophysical surveys may identify further structural information in the data.

Technical Overview

Geophysical Compilation Overview

In 2004, DCIP and Very Low Frequency (“VLF“) surveys were conducted by Lou O’Connor and Minex Exploration for New Jersey Mining Company at the Silver Strand property.
In 2021, an Unmanned Aerial Vehicle (“UAV“) magnetic survey was completed by MWH Geo-Surveys International Inc.
In 2022, Big Sky Geophysics completed a DCIP survey.

The geophysical compilation and interpretation study was completed by Condor North Consulting ULC. The study was focused on investigating the resistivity and chargeability models along with the magnetic data to determine geophysical responses to help highlight areas of interest on the project area. The 2004 DCIP and VLF survey consisted of 4 line-kilometres (“km”) of surveying over five lines. The DCIP survey used 50 metre (“m”) dipoles in a dipole-dipole electrode configuration. VLF readings were taken along the same lines at 12.5 m intervals using three stations, Jim Creek, Lualualei and Cutler. The 2022 DCIP survey consisted of 4.5 line-km of surveying over 3 lines. A 100 m dipole spacing was used with a dipole-dipole electrode configuration.

Figure 1: The combined 2004 and 2022 3D (DCIP) conductivity (left) and chargeability (right)
inversion results for a draped depth surface 50 m below topography.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/160801_4e3a8055b41c7ad3_001full.jpg.

“The geophysical results compared to the known geological model appear to highlight key features of the Silver Strand deposit, and have generated some exciting new previously unknown targets,” commented Phil Mulholland, Chief Geologist. “After working on the Silver Strand Project for two years, the geophysical study clearly indicates the potential of the property and provides additional information to execute an aggressive property-wide exploration program.”

The conductivity results in Figure 1 show that the southern half of the survey area is more conductive than the northern half. The strongest conductivity feature runs along the south edge of the 2004 survey area. Several chargeability anomalies are present within the central portion of the surveys, including the Silver Strand Mine.

UAV Magnetic Survey

The UAV magnetic survey was completed from August 3rd to 19th, 2021. A total of 521 line-km was collected with a line spacing of 25 m (MWH, 2021).

The measured magnetic data reveals a small variation in magnitude throughout the survey area. This small range indicates there is a low variation in the magnetic susceptibilities of the underlying rocks. The magnetic data shows several west-northwest trending narrow magnetic highs, predominately along the southwest half of the grid. These highs may indicate the presence of mafic dikes, which is of interest due to the proximity of these dikes to mineralization found in the Silver Strand Mine. These magnetic lineaments are displayed along with faults from geologic maps in Figure 2.

Figure 2: Interpreted magnetic lineaments with faults, (Idaho Geological Survey, Browne 2002)
on draped depth slice from the 3D susceptibility model at a depth of 50 m below surface.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/160801_4e3a8055b41c7ad3_002full.jpg.

VLF Results

The 2004 VLF data identified several conductors, which corresponded with conductive areas in the DCIP conductivity model. The VLF conductors appear to correlate with magnetic highs to the northeast of the mine area, while the southern conductive trend shows a more variable magnetic response. The two VLF anomalies to the southwest of the mine area are associated with a broad magnetic low.

Target Zones Study

The purpose of this study was to compare DCIP, VLF and UAV magnetic data of a known mineral occurrence located at the Silver Strand Mine. Target zones would have similar geophysical characteristics and may include areas of anomalous conductivity, chargeability and/or susceptibility.

The 50 m draped depth slices from these two products are shown in Figure 3 with the mapped mafic dikes at the mine site shown in black. From these images a chargeability anomaly and low conductivity are located along the western half of the dike location and extending further to the northwest. The conductivity low may be related to silicification observed at the mine site, while the chargeability anomaly is likely caused by disseminated sulphides that are also present at the mine site. These observations indicate that other chargeability anomalies in the survey area, especially where they are coincident with conductivity lows, are of interest for further investigation.

The target zones are based on the DCIP results along with the magnetic trends. The geophysical responses observed in the area of the Silver Strand Mine were used to prioritize the targets.

Figure 3: Target Zones are shown from 3D conductivity (left), chargeability (centre)
and susceptibility (right) models 50 m below the surface. Mafic
dikes are shown from the mine site by black polygon.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/160801_4e3a8055b41c7ad3_003full.jpg.

Figure 4: Magnetic Target Zones are shown on draped depth slice 50 m below the
surface from 3D susceptibility model with interpreted faults.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9597/160801_4e3a8055b41c7ad3_004full.jpg.

Qualified Person

Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Silver Hammer Mining Corp.

On Behalf of the Board of Silver Hammer Mining Corp.

Peter A. Ball
President & CEO, Director
E: peter@silverhammermining.com

For investor relations inquiries, contact:

Kristina Pillon
High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

Forward-Looking Statements

The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160801

Junior Mining Lion One Metals Precious Metals

Lion One Commences High Grade Gold Mining at Tuvatu

Post author By admin
Post date April 3, 2023

North Vancouver, British Columbia–(Newsfile Corp. – April 3, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) announces a significant milestone at Tuvatu. Initial mining of near-surface, high-grade gold bearing mineralization has commenced from a recently discovered mineralized lode. To date, strike driving along the new lode totals 14 cuts for an estimated 475 tonnes, much of which has already been added to the Company’s mining inventory stockpile. The high-grade inventory stockpile will constitute the initial feed for the Company’s custom-designed-for-purpose processing facility, currently under construction.

Figure 1. Photo of the first cut on the lode, strike drive from the new development decline.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/160996_b31709b2f410681d_001full.jpg

New Gold Lode

The new lode was discovered in late 2022, 75 meters into the new development decline, and was subsequently defined by underground mapping, chip-channel sampling, and diamond drilling.

Development along the strike has since been extended by 13m, by way of 7 separate cuts, each cut representing approximately 30 tonnes of material. Vertical development of 9m as a 1.5 x 1.5m rise has been completed, as well as an additional 7 cuts, for a total of approximately 475 tonnes of gold mineralized material, to date. Tuvatu has implemented airleg mining, which allows for flexibility and optionality to deliver low-cost tonnage at minimum mining widths of 1.8m and a rate of advancement of 4m/day.

Several recent drillholes have intersected multiple high grade intercepts. Systematic face sampling provides detailed information that compare favourably with previous drill results.

The material extracted from this drive represents the first modern extraction from the Tuvatu deposit, and as such represents a significant milestone for the company.

Table 1. Composited results from drillholes intersecting the lode. Coordinates are in Fiji map grid.

Hole ID	From (m)	To (m)	Interval (m)	Au g/t	Easting	Northing	Elevation	Azimuth	Dip
TUDDH-617	56.1	58.2	2.1	1.76	1876512.6	3920929.1	236.3	097	-60
including	57.9	58.2	0.3	6.30
	59.7	63.3	3.6	2.93
including	59.7	60.0	0.3	17.01
TUDDH-619	65.0	65.3	0.3	3.48	1876257.7	3920801.2	203.2	266	-60
TUDDH-621	159.3	160.5	1.2	27.99	1876257.7	3920799.9	203.0	297	-60
TUDDH-624	79.1	81.2	2.1	20.16	1876257.5	3920800.1	203.1	262	-65
including	79.1	80.3	1.2	33.04
including	79.7	80.0	0.3	106.99
TUDDH-542	79.8	81.5	1.7	1.65	1876170.4	3920845.3	166.6	139	-7
including	79.8	80.1	0.3	5.77
TUDDH-359	93.24	95.68	2.44	4.21	1876222.0	3920742.0	207.6	359	-65
including	93.24	93.65	0.41	10.85
TUDDH-355	31.63	32.0	0.37	8.96	1876223.0	3920779.0	203.5	359	-63
TUDDH-086	241.25	243.3	2.05	9.14	1876335.0	3920736.0	226.5	279	-60
including	241.25	241.95	0.7	18.7

Table 2. Selected chip-channel results from sampling in the development decline, face samples along successive cuts of the strike drive along lode, and samples from the rise lode. Coordinates are in Fiji map grid.

Channel ID	From	To	Interval	Au	Coordinates	Elevation	Final depth	Azimuth	Dip
	m	m	m	g/t	Easting	Northing	m	m	deg.	deg.
MD-CH-001	0.0	2.5	2.5	9.94	1876219.1	3920779.2	157.6	2.5	-13	-13
	1.0	1.5	0.5	32.57
MD-CH-002	0.0	1.0	1.0	29.02	1876219.2	3920779.0	158.6	1.5	-13	-13
	0.5	1.0	0.5	55.12
MD-CH-003	1.0	3.0	2.0	8.91	1876227.3	3920778.8	156.0	3	-13	-13
	2.5	3.0	0.5	22.48
MD-CH-004	1.5	3.0	1.5	11.93	1876228.0	3920778.1	155.5	3	-14	-14
	1.5	2.0	0.5	26.09
MD-CH-005	1.0	2.5	1.5	15.17	1876220.6	3920784.2	157.5	4	-14	-14
	1.5	2.0	0.5	41.94
MD-CH-006	1.5	3.0	1.5	10.88	1876220.4	3920784.9	158.7	4	-11	-11
	1.5	2.0	0.5	31.17
MD-CH-011	0.0	2.5	2.5	10.46	1876232.2	3920768.5	155.3	2.5	-13	-13
	1.5	2.0	0.5	44.30
1155URA1STHOD.02	0.0	1.4	1.4	14.70	1876220.2	3920774.4	157.0	2.05	0	0
	0.9	1.4	0.5	29.20
1155URA1STHOD.03	0.0	2.4	2.4	7.57	1876219.8	3920772.6	156.9	2.4	0	0
	1.0	1.45	0.45	32.89
1155URA1STHOD.04	0.7	1.6	0.9	15.86	1876219.5	3920771.0	157.2	2	0	0
	1.3	1.6	0.3	39.60
1155URA1STHOD.05	0.6	1.3	0.7	3.23	1876218.8	3920769.5	157.2	2.6	0	0
1155URA1STHOD.06	0.0	2.2	2.2	3.69	1876217.6	3920768.0	157.4	3	0	0
1155URA1STHOD.07	0.0	2.7	2.7	6.89	1876216.5	3920766.4	157.9	2.7	0	0
	0.5	1.0	0.5	24.88
1155URA1NTHOD.05	0.0	1.6	1.6	2.18	1876223.9	3920790.8	158.0	2	0	0
	1.2	1.6	0.4	8.07
1155URA1NTHOD.08	0.5	2.0	1.5	3.95	1876226.4	3920796.8	157.4	2.1	0	0
	1.2	1.6	0.4	14.42
Rise STH side	1.2	2.0		10.35	1876214.8	3920767.3	159.9	7	60.7	60.7
	3.0	4.0		9.48
	4.0	5.0		20.19
Rise NTH side	0.0	1.2		12.84	1876215.4	3920769.8	159.8	7	54.6	54.6
	3.0	4.0		12.85
	5.0	6.0		13.93

Figure 2 A. Photo of lode cut No. 2 face of the South strike drive from the development decline;
Figure 2 B. Photo of lode cut No. 7 face of the North strike drive.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/160996_figure2.jpg

Further Near-Term Development

Figure 3 shows a rendering of the development along the new lode to date. Figure 3 also provides an update to the total development achieved to date along the main decline, toward the important additional lode on which much of the detailed grade control drilling has been focused. It is expected that the decline will reach this additional high-grade lode, likely within the next month.

Figure 3. Plan view rendering of the current as-built model of the underground development completed to date. The entrance to the decline is at the top left. The location of the new lode (green) and additional lodes (blue and orange) are shown. The open gray shape indicates planned development to expose the lodes. North is toward the top of the image. Coordinates are in Fiji map grid.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/160996_b31709b2f410681d_006full.jpg

Geology

The well-defined structure consists of a quartz vein array with minor to trace pyrite, chalcopyrite, sphalerite and bornite, as well as coarse native gold (Figures 4a, b), typically in association with roscoelite. Late carbonate veinlets crosscut the structure. The vein is hosted by monzonite, with well developed symmetric bleached alteration. The highly visible alteration envelope has rendered advancement on this mineralized structure very straight-forward by way of visual identification alone.

Figure 4. Photos of coarse visible gold in samples collected from the lode. A) 158.7m elevation, width of photo is ~25cm across; B) 159.5m elevation, width of photo is ~30cm across.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/160996_figure4.jpg

About Tuvatu

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

Qualified Person

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

QAQC Procedures

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited

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

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

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

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/160996

Base Metals Collective Mining Energy Junior Mining

Collective Mining Drills 276.3 Metres at 2.95 g/t Gold Equivalent from Surface and Increases the Volume of the High-Grade Portion of the Apollo Porphyry System

Post author By admin
Post date March 30, 2023

Assay results for APC-39, which continued to step out to the east from Pad 6 as part of a fan pattern of drilling at the Apollo porphyry system, intersected continuous high-grade copper-silver-gold mineralization from surface as follows:
276.30 metres @ 2.95 g/t gold equivalent (consisting of 2.12 g/t gold, 36 g/t silver and 0.22% copper) in drill hole APC-39 including:
The intersection in drill hole APC-39 was terminated short of target depth due to a technical issue while in high-grade copper and silver mineralization, with the final 7.6 metres returning 0.73% copper, 152 g/t silver and 0.46 g/t gold. APC-39 is the easternmost completed hole with assay results from Pad 6 to date and has extended the strike length of the high-grade mineralization at depth from previously announced APC-35 to 125 metres. This subzone of high-grade remains open to the east and west along strike at depth and subsequent completed holes awaiting assay results (APC-41, APC-42 and APC-44) have visually further extended the mineralization.
APC-36 and APC-38 are the initial drill holes completed from Pad 7 and confirm for the first time that the mineralization begins directly at surface in this area of the Apollo system. Both holes added new volume of shallow mineralization to the block model and demonstrated excellent continuity of mineralization with higher grade oxide mineralization encountered in the shallowest portions of the holes. Additionally, the holes were beneficial in working out the geometry of the system in this location confirming a steeper dip than modelled with assay results as follows:
169.95 metres @ 2.15 g/t gold equivalent (consisting of 1.36 g/t gold, 19 g/t silver and 0.32% copper) in drill hole APC-38 including:
110.40 metres @ 2.08 g/t gold equivalent (consisting of 1.73 g/t gold, 9 g/t silver and 0.14% copper) in drill hole APC-36 including:
Five additional drill holes have been completed from drill Pads 6 and 7 and all appear to have extended the area of outcropping mineralization from bedrock to downhole lengths of up to 400 metres. Assay results are pending.
Deep drilling has recently commenced from Pad 6 with a northwesterly hole designed to test for mineralization from surface down to a vertical depth of over 1,000 metres.

Ari Sussman, Executive Chairman commented: “The discovery of the Apollo system within the Guayabales project continues to deliver broad intervals of high-grade copper-silver-gold mineralization. Assay results from fan drilling completed to date from Pads 6 and 7 have added important tonnes of high-grade mineralization to the block model beginning directly from surface. With the fan pattern of shallow drilling from Pad 6 now complete, we are excited to have initiated our first deep hole to test the potential of the system over 1,000 metres vertical. I recently returned from visiting the Guayabales project and came away impressed by both the sheer quantity and quality of mineralization observed in outstanding holes awaiting assaying and the strong support for the Company by our stakeholders. Our team is excited to advance the project swiftly and responsibly and is confident that the Company will be an important contributor to Colombia’s bold decarbonization plans.”

TORONTO, March 30, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from an additional three drill holes completed from Pad 6 and 7 which form part of the Phase II Apollo program within the Guayabales project located in Caldas, Colombia. The aim of the Phase II program is to test and define through drilling the shallow portion of the Apollo porphyry system as well as continue expanding the system through step-out and deep drilling. The Apollo porphyry deposit 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 body currently measuring 395 metres x 385 metres x 915 metres and open for expansion.

Details (See Table 1 and Figures 1-6)

The Phase II drilling program of 2023 is advancing on schedule with nine holes completed and a further five awaiting assay results from the lab. The aim of this program is to define the high-grade mineralization and dimensions of the Apollo porphyry system near surface while continuing to expand the size of the system through step-out drilling. To date, a total of 40 drill holes (approximately 17,540 metres) have been completed and assayed at the Apollo target with most of the holes testing the Apollo porphyry system.

Assay results for the first three drill holes (APC-31, APC-33 and APC-35) from the 2023 Phase II program were previously announced on February 23, 2023 and March 15, 2023, respectively. Highlights include 384.7 Metres at 2.46 g/t gold equivalent in APC-31 and 359.15 metres @ 3.32 g/t gold equivalent in APC-35, with mineralization in both holes commencing from surface. Both holes intercepted high-grade oxide mineralization from surface with APC-31 cutting 42.35 metres @ 5.08 g/t gold equivalent and APC-35 cutting 35.30 metres @ 8.06 g/t gold equivalent. (see February 23, 2023 and March 15, 2023 for gold equivalent calculations)

A further three holes, APC-36, APC-38 and APC-39 have now been completed from Pads 6 and 7 with assay results and geological observations summarized below.

APC-36 was drilled steeply in an easterly direction from Pad 7 to a maximum depth of 154.1 metres (90 metres vertical). The hole was designed to test the potential for shallow mineralization located on the eastern side of the southern outcrop area and to better define the geometry of the system in this area. The hole intersected continuous mineralization from surface down to 110.4 metres with assay results as follows:

110.40 metres @ 2.08 g/t gold equivalent (consisting of 1.73 g/t gold, 9 g/t silver and 0.14% copper) in drill hole APC-36 including:

The mineralized interval starts directly below overburden at 2.8 metres in saprolite and saprock material with oxidized sulphides until 19.55 metres before transitioning into fresh mineralized angular breccia rock consisting of chalcopyrite (0.2% to 0.8%), pyrite (up to 2.5%) and pyrrhotite (~1%). As expected, gold grades are significantly higher in the oxidized portion of the intercept.

APC-38 was drilled northwards from Pad 7 to a maximum depth of 183.7 metres (165 metres vertical) and was designed to test the potential for shallow, high-grade mineralization located on the northern side of the southern outcrop area. The hole intersected continuous mineralization from surface down to 169.95 metres before expectingly passing into a post mineral dyke with assay results as follows:

169.95 metres @ 2.15 g/t gold equivalent (consisting of 1.36 g/t gold, 19 g/t silver and 0.32% copper) in drill hole APC-38 including:

The mineralized interval starts from surface within saprolite material followed by an additional 15.25 metres of saprock with iron oxides and sulphides to 20.95 metres before transitioning into fresh rock with a sulphide composition of 0.5% to 1.5% chalcopyrite, 1.5% pyrite and lesser pyrrhotite. Magnetite is also present in the matrix enveloped by chalcopyrite.

APC-39 was drilled steeply to the northeast from Pad 6 to a maximum depth of 284.3 metres (285 metres vertical). The hole was designed to expand upon the continuity of high-grade mineralization from surface in a northeast direction within the main Apollo porphyry system. The hole intersected continuous mineralization from surface down to its final depth of 284.3 metres with assay results as follows:

276.3 metres @ 2.95 g/t gold equivalent (consisting of 2.12 g/t gold, 36 g/t silver and 0.22% copper) in drill hole APC-39 including:

The mineralized interval starts directly below overburden at 8 metres depth with saprolite material followed by oxidized saprock for an additional 33.5 metres to a depth of 41 metres. The intercept then passes into fresh rock with a sulphide composition of chalcopyrite that ranges between 0.5% and 1.5%, pyrite values up to 2.5% and lesser pyrrhotite. Overprinting carbonate base metal vein material is also present with sphalerite and galena specifically from 75.8 metres down hole and again at 185.8 metres down hole. The downhole intersection stopped in high grade copper and silver mineralization, due to technical issues with the rig, with the final 7.6 metres returning 0.73% copper, 152 g/t silver and 0.46 g/t gold. Further drilling will be undertaken in this area.

Drill hole APC-37, which was the first hole of 2023 from Pad 4, was unfortunately lost short of target depth due to a complicated fault. A new hole from Pad 4 is advancing well and is expected to be completed in the coming days.

Outcrop mapping and sampling in the south and central portions of the system has outlined a 130 metre-by-100 metre area of known surface mineralization, which is open in all directions. Pads 6 and 7 have been designed with the objective of understanding the styles and tenor of the shallow, high-grade mineralization from surface down to depths of up to 400 metres and Pad 6 is ideally situated for further step out holes to understand grade continuity at depth. Deep drilling has recently commenced from Pad 6 with a northwesterly hole designed to test mineralization from surface down to a vertical depth of over 1,000 metres.

Visual observations from another five completed holes indicate continuous mineralization from surface over core lengths ranging from more than 80 metres to more than 400 metres. The Company presently has three diamond drill rigs operating at the Apollo project and additional assay results are expected in the near term.

Two new drill pads, numbered 9 and 10, will be completed shortly and once operational will provide more drilling options to test this expanding area of surface and shallow mineralization down to 400 metres vertical.

Table 1: Assays Results for APC-36, APC-38, and APC-39

Hole #	From (m)	To (m)	Intercept Interval (m)	Au (g/t)	Ag (g/t)	Cu %	Mo %	AuEq (g/t)*	CuEq (%)*
APC-36	2.80	113.20	110.40	1.73	9	0.14	0.004	2.08	1.11
Incl**	2.80	22.35	19.55	2.57	11	0.11	0.002	2.86
	102.05	113.20	11.15	6.84	14	0.28	0.006	7.36
APC-38	–	169.95	169.95	1.36	19	0.32	0.002	2.15	1.15
Incl**	–	20.95	20.95	3.12	2	0.10	0.002	3.24
	156.60	169.95	13.35	2.28	32	0.63	0.002	3.74
APC-39	8.00	284.30	276.30	2.12	36	0.22	0.001	2.95	1.57
Incl**	8.00	41.00	33.00	4.44	26	0.11	0.001	4.87
	75.80	93.55	17.75	2.84	36	0.40	0.001	3.94
	185.80	196.95	11.15	3.55	18	0.04	0.001	3.78

(**) Zone of Oxidation

Figure 1: Plan View of the Apollo Porphyry System Highlighting Drill Holes APC-36, APC-38 and APC-39 (CNW Group/Collective Mining Ltd.)

Figure 3: Core Photo Highlights from Drill Hole APC-36 (CNW Group/Collective Mining Ltd.)

Figure 4: Core Photo Highlights from Drill Hole APC-38 (CNW Group/Collective Mining Ltd.)

Figure 5: Core Photo Highlights from Drill Hole APC-39 (CNW Group/Collective Mining Ltd.)

Figure 6: Brecciated porphyry mineralization. Note the mineralized quartz porphyry B veins being overprinted by mineralized angular breccia. (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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SOURCE Collective Mining Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/March2023/30/c6791.html

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