Burlington, Ontario–(Newsfile Corp. – December 6, 2022) – On October 21, 2022 Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announced a financing of Units (the “Financing”), whereby each Unit consisted of one common share and one common share purchase warrant. Each Unit is priced at $0.20 (twenty cents). Each common share purchase warrant has a 2-year term and is exercisable at $0.30 (thirty cents).
SBMI announces it has closed on the final tranche of the Financing, being $360,912. This represents 1,804,560 common shares and 1,804,560 common share purchase warrants. This together with the first tranche totals $807,912, an oversubscription from the announced target of $600,000. No insiders participated and there here are no finder fees payable on this tranche.
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 ore; 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 viruses create risks that at this time are immeasurable and impossible to define.
For lithium that change happened in 2018, which, for one, shows just to what extent the EV industry is still in its infancy, and two, just what an impact the additional demand from EVs will have on raw material prices.
Benchmark Source, a new service from the London-HQed battery supply chain research firm, reports that lithium prices in China touched a fresh record high mid-November, just shy of $80,000 a tonne.
Prices of Chinese battery grade lithium hydroxide, which is used in high nickel cathodes, are up 150% year-to-date. Lithium carbonate prices have followed a similar trajectory. While well below their Q1/Q2 highs, nickel and cobalt sulphate prices have also regained some ground since hitting 2022 lows in Q3.
Cathode cost climb
Lithium iron phosphate (LFP) batteries have lost some of their cost competitiveness to ternary cathodes using the dominant nickel-cobalt-manganese (NCM) chemistries due to the rise in the price of lithium.
According to Benchmark’s Cathode Price Assessment, high nickel content NCM 811 (8 parts nickel and one each cobalt and manganese) cathodes could be had for $78.64 per kWh on the spot market in October this year. That’s up nearly 18% year to date and a doubling since January 2021.
For LFP, which is close to hitting $50 per kWh today, was only priced at $12.79/kWh in January 2021, which means LFP cathodes are up 288% in less than two years.
Driven by advances in battery packs to overcome some of the drawbacks of the chemistry in terms of energy intensity, LFP’s overall cathode market share has climbed from 23% in 2017 to nearly 42% this year, according to Benchmark data.
Cathode CAGR tops 40%
Caspar Rawles, Benchmark’s Chief Data Officer, told the conference audience that global cathode production has increased at an annual compound rate of 42% since 2017 and is forecast to top 2 million tonnes this year.
Source: Benchmark Mineral Intelligence.
Even that astonishing growth has not been enough to satisfy rampant demand growth from electric cars. Rawles said EV battery demand has really accelerated since 2020 as incentives and regulations in China, Europe and the US caused a step change in auto sales and battery manufacturing capacity.
Global EV demand measured in kWh expanded some 23% in the four years through 2020, but in the past two years the compound growth rate has climbed to just under $45%.
IRA
China’s dominance in cathode manufacture is only slowly being chipped away despite the steady stream of announcements of billion dollar battery factory projects in Europe and North America.
China controls 78% of global output of cathodes (the figure for anodes is 91%) and 70% of the world’s cell production.
Source: Benchmark Mineral Intelligence.
Rawles says there are various efforts in the West to decouple from China, including Canada ordering China to divest from the country’s lithium industry, $2.8 billion in grants and many times that in loans from the US Dept of Energy, critical mineral grants under the Defense Production Act, $60 billion in cumulative Environmental Justice Initiatives and $6 billion in credits for up to 30% of manufacturing projects capital expenditure under the Inflation Reduction Act.
Rawles said the IRA that “shake[s] up the industry” and the US and global EV supply chain, and in particular draws attention to Section 45X – Advanced Manufacturing Production Tax Credit, which makes available around $30 billion in tax credits:
“While there is still some information to come out [regarding detailed provisions in the IRA] as a refiner, if you source your materials in the US and you process them to battery grade you’re eligible for 10% of your operating costs.
“But there is no sunset clause on that so theoretically, until the law changes, you can get ten percent of your opex for your lithium refinery for example in perpetuity.”
America first
The IRA has already provided a big boost to the development of the US battery supply chain, with the US overtaking Europe in the second half of this year in terms of announced new battery capacity. The US battery pipeline is nearing 1 terawatt hours, according to Benchmark.
LG Chem’s recent decision to build a $3.2 billion battery cathode facility in Tennessee alone could more than double North American cathode production when it goes into production in 2027.
Benchmark calculates the plant could supply 18% of North America’s 2030 cathode demand if it operated at its full announced capacity of 120,000 tonnes a year.
VANCOUVER, British Columbia, Dec. 05, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to provide a corporate update to shareholders and to share its most recent analyst report from Fundamental Research.
Corporate Update Click here for a pre-recorded corporate update between Judson Culter, CEO at Rover, and U.S. stock-commodity TV journalist personality, Maurice Jackson, of Proven and Probable.
Analyst Report Fundamental Research Corp. (“FRC”) has published their updated analyst report on Rover, including a positive rating, dated December 1, 2022. The report can be accessed here.
FRC is one of the largest issuer-paid independent stock market research firms in the world, with a 19-year track record of covering 650+ companies. As of November 28, 2022, FRC’s top picks were up 41% on average since the initiation of coverage*. FRC provides fee-based coverage. Their analysts are sought after by the media and at conferences to give their opinions on the market, current topics of interest such as the direction of commodity prices, and top stock picks.
*Past performance is not indicative of future performance.
Judson Culter, CEO at Rover Metals, states “we are developing a lithium mining project in Nevada that has the potential to help fill-in the major supply shortage coming for lithium beginning in H2-2026*. Development of critical mineral projects here in North America is a matter of national security. Mining stocks and the mining sector need to get a second look from domestic investors right now given the global geopolitical climate we’re living in. We welcome due diligence calls on our mining resource development projects. Companies like Rover are subject to naked-short selling and potential malicious trading practises that can be orchestrated by hostile foreign regimes. Rover relies on the support of domestic investors to help sustain uninterrupted development of its resource projects. China’s battery companies are targeting Europe and are forecasted to account for approximately 30% of Europe’s battery production by 2030*.”
*Source: Benchmark Mineral Intelligence, U.K.
New Office Phone Number Our main office number has recently changed to +1-778-754-2855.
U.S. Trading Ticker The Company now trades under the ticker ROVMF on the OTCQB.
About Rover Metals Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. Rover is currently focussed on the development of a claystone lithium project in southwest Nevada, USA. Plans for 2023 include a 1,200-meter reverse circulation drill program at the Let’s Go Lithium project.
The Company has a diverse portfolio of mining resource development projects with varying exploration timelines. Its critical mineral projects include lithium, zinc, and copper. Its precious metals projects include gold and silver. The Company is exclusive to the mining jurisdictions of Canada and the U.S.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2855
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
TORONTO, Dec. 1, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) will be presenting at the OTC Markets Group, Metals & Mining Virtual Investor Conference on Thursday, December 8, 2022, at 2:00pm ET.
Using the link below, investors can register and listen to the presentation, and take part in a question and answer session at the end. The presentation is expected to last 30 minutes.
DATE: Thursday, December 8, 2022 TIME: 2:00pm ET – 2:30pm ET LINK:https://bit.ly/3E1tR5k
Please log in 5 minutes early in order to register. An archived webcast will also be made available after the event.
Ari Sussman, Executive Chairman of Collective Mining will be providing an overview and will discuss the Company’s “Main Breccia” discovery at the Apollo target. The Main Breccia discovery is a high-grade and bulk tonnage copper-silver-gold porphyry-related breccia system characterized by two main yet distinct pulses of mineralized fluids flooding the breccia with metals.
The Company’s Guayabales project is located in the mining-friendly department of Caldas, Colombia, in the heart of a long-established mining camp with ten fully permitted and operating mines located within three kilometres of the project. As a result, the Guayabales project is blessed with excellent infrastructure with roads and hydroelectric powerlines traversing the project and an abundant labour force located nearby in the townships of Supia and Marmato.
Three rigs continue to drill at Apollo with holes APC-19 through APC-26 completed and holes APC-27 through APC-29 underway. Additional assay results are anticipated in the near term.
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 based in Canada, 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 and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own approximately 35% 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”.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, 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.
Vancouver, British Columbia–(Newsfile Corp. – November 30, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report it has signed a definitive sale and royalty agreement with Minera Fresnillo, S.A. de C.V. (“Fresnillo”) a wholly owned subsidiary of Fresnillo PLC for the sale of Riverside’s Tajitos Gold Project (“Tajitos”) located in Sonora, Mexico. Riverside will receive a US$2,500,000 cash payment and retain a 2.0% NSR (“Royalty”).
The Tajitos Gold Project is located less than 30 kilometers from Fresnillo’s Noche Buena mining operations. Riverside’s Tajitos Gold Project includes the Tejo and Tajitos mineral concessions covering 45 km² of prospective ground next to Fresnillo’s property (also named Tajitos).
Riverside’s President and CEO, John-Mark Staude, stated: “This transaction adds another quality NSR to our growing royalty portfolio and brings our cash position to more than C$8,000,000, which puts us in a great position to grow our business during 2023-2024. We are pleased to deliver another deal with a high caliber international mining company, which is a testament to the quality of projects our team has generated and Riverside maintains in our property portfolio.”
Transaction Details:
Riverside will receive a payment of US$2,500,000 from Fresnillo and retain a 2.0% NSR. Fresnillo will have, for a four-year term, the option to buy back half of the 2.0% NSR for a payment of US$1.5M. If enacted, then Fresnillo would have an additional three years to buy back the remining 1% NSR for another US$1.5M. If Fresnillo does not exercise its first buy back option during the first four-year term, the Royalty will no longer be subject to any buy back provisions. The NSR covers the entire Riverside land package and a full NSR Agreement has been agreed upon and included in the signed contract between the companies. If Fresnillo wishes to reduce mineral claims, then the Company has the first right to retain those mineral tenures before they are dropped.
Riverside remains focused on its 100% owned projects, within its portfolio in Canada and Mexico, and its alliance with BHP. The Company is also always working towards potential incoming additional alliances and partnerships.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $8M in cash, no debt and less than 80M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – November 30, 2022) – Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the “Company” or “Provenance“) is pleased to announce it has recently completed rock chip sampling and other field work at its Eldorado property in Eastern Oregon. Sampling focused on areas that had exposures of available rock for sampling in areas of significant soil cover. In addition, the Company is also in the process of reviewing, compiling and evaluating all previous historic sampling programs at Eldorado including soil sampling, rock chip sampling, trench sampling and drill hole sampling.
The Eldorado area has been the focus of considerable historic placer mining and modern era exploration by at least five mining companies. All this activity is extensive, and evidence of both placer mining and drilling / trenching remains in every corner of the property. The attached Figure below shows a seamed 1998 aerial photograph over recent satellite imagery which validates the considerable work that has been done to date on the property.
Figure 1 – Shows a Seamed 1998 Aerial Photograph Over Recent Satellite Imagery
The Company’s current field work has focused on collecting 38 rock outcrop samples to assess gold and silver values over a broad area to both confirm anomalies previously identified by past operators and to give the Company its own data base of surface sampling results. The new sampling along with integration of historic rock chip assays, trenching assays and soil auger assays should help define the full potential of the project. This work should better define the project’s footprint and will provide valuable guidance in planning future drill programs once fully permitted.
The Company has in its possession, a large amount of historic assay information that was obtained from several of the past operators, which includes rock chip samples, 43 trenches and 1,081 auger soil samples. These samples, along with results from our current sampling and “top of bedrock” assay samples from the drill holes, will provide a significant gold anomaly map to be used for future drilling.
Cross-section studies of the historic drill holes have identified areas within the historically identified gold system that were missed by the historic drilling. Confirmation drilling of these areas could add mineralized tonnage to the overall gold inventory. Some of the outcrop sampling is focusing on these untested areas.
Additionally, rock outcrops are not abundant on the property, which is mostly covered by soil. The outcrops that have been sampled are all strongly altered. Provenance believes these exposures may represent extensions of the mineral system and sampling these outcrops should verify that interpretation.
The Company expects assay results from this program in the coming weeks and completion of the full assay compilation will be released to the public as it becomes available.
Rauno Perttu, Provenance Chairman said, “I look forward to drilling to confirm the historic work, and also to begin to expand the size and likely the grade of the system. With in-fill drilling and deeper drilling, I believe we can significantly increase the magnitude of the system.”
“Eldorado already holds a significant historical inventory of gold as calculated by a reputable engineering firm in 1990,” stated Steve Craig, project manager. “We believe we will be ready to drill with target confidence in 2023 following our extensive compilation and evaluation of all of the historic data that the Company has in its possession.”
Qualified Person
Steven Craig, CPG, an independent consultant and qualified person as defined under National Instrument 43-101, has reviewed and approved the technical contents of this news release.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in three properties, two in Nevada, and one in eastern Oregon, USA. For further information please visit the Company’s website at https://provenancegold.com or contact Rob Clark at rclark@provenancegold.com.
On behalf of the Board, Provenance Gold Corp. Rauno Perttu, Chief Executive Officer
Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
VANCOUVER, BC / ACCESSWIRE / November 30, 2022 / Noram Lithium Corp. (“Noram” or the “Company“) (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to review the Company’s activities during 2022 and to highlight upcoming catalysts at its 100%-owned high-grade Zeus Lithium Project in Clayton Valley, Nevada.
Highlights of 2022 Corporate Milestones:
COMPLETION OF STRATEGIC FINANCING:
Closing of US$14 Million strategic financing with Waratah Capital Advisors and Lithium Royalty Corp. at $0.825 with no warrant and no finder’s fee or commission. Noram is now fully financed through 2023 to complete a Definitive Feasibility Study (“DFS”).
ADDITIONAL MANAGEMENT APPOINTMENTS:
In March 2022, the Company appointed Bradley C. Peek, as Vice President of Exploration.
In August 2022, the Company appointed Simon D. Studer, as Vice President of Corporate Development – Europe.
In October 2022, the Company appointed Dr. Vahid Sohrabi, as Technical Advisor to the Board.
ZEUS PROJECT ADVANCEMENT:
Completed Phase VI exploration program consisting of 12 holes on time and within budget. The focus of the program was to upgrade existing inferred resources into the measured indicated categories to be utilized in the Pre-Feasibility Study.
All drill holes intersected high grade lithium over significant lengths and, upon completion in the coming weeks, the Company anticipates a robust 6th resource model that may align Noram with our peers regarding contained measured and indicated resources of lithium carbonate equivalent (“LCE”).
ANALYST COVERAGE RECEIVED:
Two groups announced analyst coverage: Koby Kushner – Mining Analyst at Red Cloud Securities and Sid Rajeev – Fundamental Research Corp.
“2022 was another successful year for Noram and our shareholders. We will end the year in a very strong cash position, with a tightly controlled share structure, debt free, fully financed to reach the final feasibility stage, and with no further dilution to our shareholders until 2024,” stated Mr. Sandy McDougall, CEO of Noram. “We remain confident that our pre-feasibility study will be completed in early 2023, and noting the importance of this technical report, our technical team and consultants are working through all components to deliver a quality report. I look forward to a very busy 2023 as we focus on de-risking the Zeus Lithium Project to further rerate Noram amongst its peers.”
The technical information contained in this news release has been reviewed and approved by Bradley C. Peek, MSc, CPG, Vice President Exploration for Noram, who is a Qualified Person as defined under National Instrument 43-101.
Engagement of Native Ads, Inc. Noram has retained Native Ads, Inc. (“Native Ads“), an arms-length party, to provide investor relations services in the form of strategic digital media services, marketing and data analytics services including, but not limited to, content development, video production and editing, website development, median buying and distribution, and campaign reporting and optimization. These services are set to commence in December 2022 pursuant to a consulting agreement dated November 23, 2022, and the Company has agreed to pay Native Ads fees totaling $90,000 USD for an initial service period of 6 months.
Native Ads has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange in providing the services to the Company. Native Ads has offices in Vancouver, B.C. and New York, NY and delivers services to a diverse group of clients across North America, providing strategic digital media services, marketing and data analytic services and provides services to a diverse group of clients across North America. The appointment of Native Ads is subject to approval by the TSX Venture Exchange.
About Noram Lithium Corp. Noram Lithium Corp. (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in early 2023.
The Company’s flagship asset is the Zeus Lithium Project (“Zeus”), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV (8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,250/tonne, the PEA indicates an After-Tax NPV (8%) of approximately US$2.67 Billion and an IRR of 52%.
ON BEHALF OF THE BOARD OF DIRECTORS Sandy MacDougall Chief Executive Officer and Director C: 778.999.2159
For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653
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. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
VANCOUVER, BC / ACCESSWIRE / November 29, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces it has filed an Early Warning Report related to its holdings of 3,900,000 common shares of Heritage Mining Ltd. (“Heritage”) (CSE: HML) which represents approximately 11.8% of the total issued and outstand shares of Heritage. These shares were issued to Stillwater Critical Minerals as well as a cash payment of $150,000 and completion of $500,000 project work to satisfy first anniversary commitments per the Definitive Earn-In Agreement announced November 29, 2021 with respect to the Drayton-Black Lake gold project in Ontario, Canada.
The Heritage shares are held directly by Stillwater Critical Minerals for investment purposes. Additional share payments to Stillwater Critical Minerals are required under the Agreement and SWCM may in the future take such actions in respect of its shares as it deems appropriate in light of the market circumstances then existing including the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers.
There are no persons acting jointly or in concert with Stillwater Critical Minerals with respect to the shareholdings in Heritage, nor has the Company entered into any agreements in respect of its shareholdings in Heritage with any person with which SWCM acts jointly or in concert.
This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report. The early warning report respecting the acquisition will be filed on the System for Electronic Document Analysis and Retrieval (“SEDAR”) at www.sedar.com.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighbouring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update currently in progress.
Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, which is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – November 29, 2022) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from the 100%-owned Homestake Ridge property in BC’s Golden Triangle. The objective of drilling during 2022 at the Homestake Main and Homestake Silver deposits was to expanded multiple, subparallel mineralized zones and to upgrade Inferred Resources.
Highlights include (intervals shown are core length):
HR22-314: 4.27 g/t Au and 64 g/t Ag (5.10 g/t AuEq*) over 16.06 meters including 18.76 g/t Au and 193 g/t Ag (21.49 g/t AuEq*) over 3.08 meters
HR22-322: 6.47 g/t Au and 27 g/t Ag (5.83 g/t AuEq*) over 6.00 meters
HR22-325: 7.18g/t Au and 30 g/t Ag, 0.49% Cu (8.26 g/t AuEq*) over 10.00 meters including 20.20 g/t Au and 68 g/t Ag (21.13 g/t AuEq*) over 1.47 meters
HR22-328: 27.44 g/t Au and 463 g/t Ag (33.34 g/t AuEq*) over 9.16 meters including 0.50 meters 216.00 g/t Au and 113 g/t Ag, 0.48% Cu (218.06 AuEq*) over 0.50 meters
HR22-330: 5.68 g/t Au and 147 g/t Ag (7.48 g/t AuEq*) over 15.00 meters, including 54.10 g/t Au, 4,890 g/t Ag and 0.11% Cu (113.25 g/t AuEq*) over 0.39 meters
HR22-337: 3.79 g/t Au and 2 g/t Ag (3.84 g/t AuEq*) over 21.00 meters including 11.15 g/t Au and 5.00 g/t Ag (11.22 AuEq*) over 2.00 meters
HR22-339: 14.56 g/t Au and 4.00 g/t Ag (14.63 g/t AuEq*) over 2.50 meters
“Our 2022 drill program has truly been exceptional. The recently acquired Homestake Ridge Deposit has delivered more high-grade gold and silver values, commonly with strong copper mineralization. These intercepts demonstrate strong continuity of mineralization over wide intervals, similar to the recently announced high-grade results at the Wolf and Kitsol Deposits, located six kilometers to the south. We eagerly anticipate additional assays from all of Dolly Varden’s Deposits, as well as new exploration targets drilled during the 2022 program,” said Shawn Khunkhun, President and CEO.
These results are primarily infill drilling from areas of Current Inferred Mineral Resources and suggest that the higher-grade gold-silver lenses may be continuous over more extensive areas than previously interpreted. In addition, the drilling has generated new targets down-dip the Homestake Main deposit along the projected plunge of the higher grade shoots that are wide open for expansion. Oriented core was used on all drill holes on the project and this detailed structural data is also being integrated in to the geological model to further increase confidence. Additional assays from the Homestake Main and Silver Deposits are pending
Complete Assay results for the first batch of drilling results at Homestake Main are in Table 1.
Figure 1. Location along Dolly Varden’s Kitsault Valley trend of Deposits
The Homestake Ridge deposits are interpreted as structurally-controlled, multi-phase epithermal vein and breccia system hosted in Jurassic aged Hazelton Volcanic rocks. Mineralization consists of pyrite and chalcopyrite in a breccia matrix within a silica breccia vein system (see Figure 2). The northwest orientation of the main Homestake structural trend appears to have numerous subparallel internal structures that are interpreted to form the controls for higher grade gold shoots within a broader low grade zone at the Homestake Main deposit. The main structural corridor dips steeply to the northeast (see Figure 3 and 4).
Figure 2. Drill hole HR22-330 from the Homestake Main deposit showing breccia vein style mineralization.
Table 1. Completed Drill Hole Assays from the Homestake Main Deposit
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Cu (%)
AuEq*
AgEq*
HR22-313
107.00
148.00
41.00
0.85
12
0.10
1.13
93
including
125.08
127.00
1.92
3.13
42
NSV
3.64
300
including
141.00
146.10
5.10
3.10
11
0.72
4.28
353
HR22-314
149.66
165.72
16.06
4.27
64
NSV
5.10
421
including
159.92
163.00
3.08
18.76
193
0.28
21.49
1,773
and
168.23
169.19
0.96
10.55
50
4.14
17.17
1,417
HR22-315
174.70
175.22
0.52
2.07
25
1.37
4.36
360
HR22-316
124.00
152.50
28.50
0.88
3
NSV
0.97
80
including
142.50
144.00
1.50
2.47
3
NSV
2.58
213
including
150.00
151.50
1.50
3.11
13
0.49
3.97
328
HR22-317
200.00
205.00
5.00
0.25
NSV
NSV
0.03
21
and
232.00
235.60
3.60
0.21
NSV
NSV
0.21
17
HR22-318
129.00
181.00
52.00
1.19
23
NSV
1.54
127
including
148.88
149.38
0.50
19.90
1990
0.39
44.47
3,669
including
152.00
160.20
8.20
2.57
8
0.19
2.95
243
including
172.00
177.00
5.00
3.23
3
0.09
3.39
280
HR22-319
200.34
207.00
6.66
1.16
3
NSV
1.26
104
HR22-320
108.50
125.50
17.00
0.83
6
NSV
0.91
75
including
123.87
124.60
0.73
5.98
17
NSV
6.21
512
HR22-321
179.00
192.00
13.00
1.16
4
0.12
1.38
114
including
189.00
190.55
1.55
5.18
10
0.15
5.52
455
HR22-322
83.00
143.12
60.12
1.69
21
NSV
2.01
166
including
113.00
119.00
6.00
6.47
27
NSV
6.83
563
including
134.13
138.71
4.58
5.23
17
0.50
6.15
508
HR22-323
190.30
222.00
31.70
0.91
6
0.37
1.52
125
including
198.00
203.00
5.00
2.36
5
0.08
2.53
208
including
207.60
209.56
1.96
0.49
37
3.50
6.03
497
including
214.00
214.55
0.55
0.52
16
1.97
3.57
295
HR22-325
174.00
201.00
27.00
3.11
12
0.20
3.54
292
including
174.00
184.00
10.00
7.18
30
0.49
8.26
681
including
175.00
175.50
0.50
18.00
23
1.92
21.06
1,738
including
177.30
177.80
0.50
15.60
92
2.95
21.00
1,733
including
180.00
181.47
1.47
20.20
68
0.08
21.13
1,743
HR22-327
217.28
227.50
10.22
1.01
17
1.43
3.29
271
including
220.75
223.23
2.48
2.15
35
3.98
8.36
689
and
231.00
274.00
43.00
0.35
5
0.10
0.56
46
including
248.55
251.48
2.93
1.85
65
1.13
4.28
353
Table 1 con’t. Completed Drill Hole Assays from the Homestake Main Deposit
Hole ID
From (m)
To (m)
Length (m)
Au (g/t)
Ag (g/t)
Cu (%)
AuEq*
AgEq*
HR22-328
160.81
169.97
9.16
27.44
463
0.21
33.34
2,751
including
163.13
164.90
1.77
75.13
2337
0.23
103.66
8,552
including
168.00
168.50
0.50
216.00
113
0.48
218.06
17,991
HR22-330
111.00
126.00
15.00
5.68
147
NSV
7.48
617
including
112.00
112.39
0.39
54.10
4890
0.11
113.25
9,344
including
116.30
116.69
0.39
74.80
20
NSV
75.05
6,192
including
118.00
118.81
0.81
33.80
14
NSV
33.98
2,803
and
131.00
143.00
12.00
0.24
8
NSV
0.38
31
HR22-331
101.00
113.00
12.00
0.92
63
NSV
1.70
140
including
111.00
111.80
0.80
9.43
224
0.10
12.27
1,013
and
130.00
144.00
14.00
1.02
5
0.15
1.30
107
including
134.10
134.82
0.72
11.95
70
2.45
16.36
1,349
HR22-334
123.00
154.61
31.61
1.75
15
0.27
2.32
191
including
131.00
139.20
8.20
3.66
30
0.27
4.42
364
including
131.00
132.00
1.00
7.67
198
0.04
10.11
834
including
138.70
139.20
0.50
19.55
50
4.26
26.35
2,174
including
145.13
147.39
2.26
5.38
19
1.09
7.19
593
including
152.06
152.41
0.35
6.92
48
7.27
18.07
1,491
HR22-335
177.00
202.55
25.55
0.55
1
NSV
0.57
47
including
184.50
190.00
5.50
1.40
1
NSV
1.42
117
and
220.00
245.50
25.50
0.34
2
NSV
0.43
35
HR22-337
145.00
175.84
30.84
2.74
2
NSV
2.79
230
including
151.00
172.00
21.00
3.79
2
NSV
3.84
317
including
151.00
152.64
1.64
12.90
4
NSV
12.95
1,069
including
161.00
163.00
2.00
11.15
5
NSV
11.22
926
including
171.00
172.00
1.00
6.58
3
NSV
6.65
548
HR22-339
148.25
172.50
24.25
2.33
2
NSV
2.37
195
including
156.50
159.00
2.50
14.56
4
NSV
14.63
1,207
including
156.50
157.50
1.00
33.40
7
NSV
33.52
2,765
and
164.75
165.60
0.85
5.05
3
NSV
5.11
422
*AuEq and AgEq are calculated using $US1650/oz Au, $US20/oz Ag, $US3.50/lb Cu
**Estimated true widths vary depending on intersection angles and range from 80% to 90% of core lengths
Table 2. Drill Hole Collars for 2022 Homestake Main Deposit Drilling
Hole ID
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
HR22-313
463002
6179472
954
225
-47
201.00
HR22-314
463050
6179452
956
226
-50
180.00
HR22-315
463050
6179452
956
226
-59
228.00
HR22-316
463002
6179472
954
225
-57
201.00
HR22-318
463002
6179472
954
245
-50
207.00
HR22-317
463050
6179452
956
226
-68
237.00
HR22-319
463050
6179452
956
250
-68
237.00
HR22-320
462956
6179462
956
225
-45
165.00
HR22-321
463113
6179429
953
229
-53
210.00
HR22-322
462956
6179462
956
225
-60
180.00
HR22-323
463113
6179429
953
229
-62
231.00
HR22-325
463132
6179416
949
228
-51
220.00
HR22-327
463132
6179416
949
228
-70
276.00
HR22-328
463052
6179417
973
225
-68
255.00
HR22-330
463052
6179417
973
225
-59
220.00
HR22-331
463052
6179417
973
220
-50
216.00
HR22-334
463089
6179383
982
230
-58
250.00
HR22-335
462965
6179544
922
250
-54
252.00
HR22-337
462937
6179513
935
225
-50
192.00
HR22-339
462937
6179513
935
215
-65
210.00
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.
Qualified Person
Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
Drill hole APC-17, a significant step-out hole to the north, intersected two zones of mineralization within the Main Breccia discovery at the Apollo target. The shallow zone, which was intersected directly below where the Main Breccia daylights at surface cut the following interval:
The second zone encountered in hole APC-17 cut the longest intercept of continuous mineralization within the Main Breccia discovery drilled to date with results as follows:
Drill hole APC-17, which was terminated at 912.8 metres due to rig capacity, bottomed in strong mineralization with the final 2.75 metres averaged 1.56 g/t gold, 9 g/t silver and 0.03% copper.
Drill hole APC-18 intersected near surface and high-grade copper-silver-gold mineralization approximately 300 metres to the north of the near surface intercept in APC-17. The mineralized breccia in this zone is strongly overprinted by numerous zones of carbonate, base metal veins with assay results as follows:
With the result of step out hole APC-17 and recently announced visuals from step out hole APC-22, the Main Breccia discovery now measures up to 385 metres along strike by 350 metres in width (previously 190 metres) and has been extended down to a vertical depth of 825 metres below surface (previously 500 metres). The discovery remains wide open for expansion and further step-out holes are currently being designed.
Three rigs continue to drill at Apollo with holes APC-19 through APC-26 completed and holes APC-27 through APC-29 underway. Additional assay results are anticipated in the near term.
TORONTO, Nov. 29, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from four additional holes drilled at the Apollo target (“Apollo”) within the Company’s Guayabales project located in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target. As part of its fully funded 23,000 metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.
“The intersection of high-grade and shallow mineralization at Apollo demonstrates the excellent metal endowment of the Main Breccia and most importantly, the dimensions of the system continue to expand and clearly point to the fact that we are dealing with a large-scale discovery. It is truly remarkable to drill a 912-metre-long hole that bottoms in mineralization. Finally, the shallow, higher grade intercepts encountered in APC-17 and APC-18 are more than 300 metres apart and confirms that the southern portion of the deposit is where the system comes to surface. As a result, we are about to start construction of a new drill pad located between the two shallow intercepts in order to start defining the shallow portion of the Main Breccia mineralized system,” commented Ari Sussman, Executive Chairman.
Details (See Table 1 and Figures 1–3)
Nineteen diamond drill holes with accompanying assay results have now been announced at Apollo and a further eleven holes are outstanding. The Company recently completed four drill holes; one northerly directed, step out hole (APC-17), to test for mineralized extensions to the Main Breccia discovery, a second shallow hole drilled southwesterly to define extensions of newly discovered mineralized breccia outcrops located in the southern portion of the deposit and two fringe holes drilled at shallow angles to the west of the Main Breccia discovery.
Drill hole APC-17 was drilled approximately due north to a maximum depth of 912.60 metres. The hole intersected three mineralized zones: 72.3 metres of mineralization beginning at 118.20 metres down hole (100m vertical), 11.65 metres of mineralized breccia from 252.6 metres (220m vertical) and another 547.65 metres of mineralization from 365.15 metres down hole (330m vertical) to the end of the hole at 912.80m (825m vertical). The hole terminated while still in mineralized breccia due to limitations of the drill rig. Total cumulative mineralization in this diamond drill hole was 628.3 metres and is the most mineralization drilled in a single hole to date into the Main Breccia discovery at Apollo. The shallow intercept is hosted within angular porphyry related breccia containing chalcopyrite (1-2%) with pyrite and pyrrhotite and is located directly beneath recently discovered mineralization outcropping at surface. The deeper and longer intercept is also hosted within angular porphyry related breccia with the matrix filled with pyrite, some chalcopyrite and overprinting carbonate base metal veins (“CBM”). The following results are highlighted:
11.65 metres @ 1.88 g/t gold equivalent consisting of 1.80 g/t gold, 4 g/t silver and 0.05% copper (220m vertical).
547.65 metres @ 1.03 g/t gold equivalent consisting of 0.76 g/t gold, 14 g/t silver and 0.04% copper (330m vertical).
Drill hole APC-18 was drilled in a southwest direction and intersected shallow, copper-silver-gold mineralization from 136.05 metres to 304.65 metres with the hole terminating at a final depth of 499.05 metres. The mineralized breccia contains a matrix of chalcopyrite and pyrite is strongly overprinted by numerous zones of CBM veins hosting sphalerite and galena. The hole was drilled below outcrops of breccia mineralization in the south-central portion of the deposit with assay results as follows:
With the result of APC-17 and recently announced visuals from APC-22, the potential total volume of rock hosting the Main Breccia discovery within it has approximately tripled in size with the dimensions now measuring 385 metres along strike by 350 metres width by 825 metres depth versus prior dimensions of 385 metres x 190 metres x 500 metres. The discovery remains wide open for expansion and further step-out holes are currently being designed.
Holes APC-15 and APC-16 were drilled at shallow angles on the western periphery of the main breccia body. APC-15 was drilled to the northwest and intersected mineralized crackle breccia returning 56.05 metres @ 0.57 g/t gold equivalent from 68.6 metres (55 metres vertical). This is a new mineralized area outside of the Main Breccia discovery at Apollo. APC-16 was also drilled outside the Main Breccia discovery to the southwest and intersected 500 parts per million copper in crackle breccia from 200 metres and until the end of the hole at 303.35 metres. The Company believes that both APC-15 and APC-16 may have drilled over the top of the Main Breccia discovery in these locations.
Three rigs continue to drill at Apollo with additional assay results anticipated in the near term.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metres X 700 metres area. The Apollo target area hosts the Company’s new Main Breccia discovery plus a vein system located above and on the eastern flank of the Main Breccia discovery and the Northern Breccia discovery located 250 metres to the north of the Main Breccia. Multiple additional untested breccia, porphyry and vein targets have been generated and will be drilled in due course. The overall Apollo target area also remains open for further expansion.
Table 1: Apollo Target Assays Results
HoleID
From (m)
To (m)
Intercept (m)
Au (g/t)
Ag (g/t)
Cu %
Mo %
AuEq (g/t)*
CuEq (%)*
APC-18
136.05
304.65
168.60
0.98
69
0.50
0.002
2.91
1.48
Incl
149.20
157.00
7.80
5.08
35
0.52
0.002
6.34
3.23
193.20
205.10
11.90
2.18
154
0.77
0.001
5.81
2.97
233.90
251.50
17.60
1.49
56
0.74
0.002
3.63
1.85
291.65
297.00
5.35
3.26
10
0.11
0.001
3.47
1.77
APC-17
118.20
190.50
72.30
1.00
28
0.63
0.004
2.57
1.31
Incl
121.90
130.40
8.50
2.42
30
0.61
0.005
3.91
2.00
APC-17
252.60
264.25
11.65
1.80
4
0.05
0.002
1.88
–
and
365.15
912.80
547.65
0.76
14
0.04
0.001
1.03
–
Incl
527.80
561.10
33.30
3.01
19
0.05
0.002
3.23
–
579.20
596.80
17.60
2.37
25
0.06
0.001
2.74
–
816.00
837.50
21.50
1.53
28
0.09
0.001
2.04
–
APC-16
NSV*
APC-15
54.20
110.25
56.05
0.37
5
–
–
0.57
–
Incl
68.60
69.10
0.50
6.26
15
–
–
6.27
–
77.85
79.20
1.35
4.17
20
–
–
4.41
–
and
180.95
181.65
0.70
13.29
9
–
–
12.81
–
206.95
207.50
0.55
7.87
5
–
–
7.61
–
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.96 x 0.95)+ (Mo (%)*7.35 x 0.95) and CuEq (%) is calculated as follows: (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $22/oz Mo US$15.00/lb and Au – US$1,400/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no 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.
*** NSV: No significant values
Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Main Breccia discovery at Apollo Highlighting New Drill Holes APC17 & APC-18 and the Expanded Dimensions of the Discovery (CNW Group/Collective Mining Ltd.)
Figure 3: Apollo Target: Main Breccia Cross Section with Core Photo Highlights from APC-17 (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 based in Canada, 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 and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.
Management, insiders and close family and friends own nearly 35% 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 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.
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.
