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Base Metals 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

  • 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.

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-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-362.80113.20110.401.7390.140.0042.081.11
Incl**2.8022.3519.552.57110.110.0022.86
102.05113.2011.156.84140.280.0067.36
APC-38–169.95169.951.36190.320.0022.151.15
Incl**–20.9520.953.1220.100.0023.24
156.60169.9513.352.28320.630.0023.74
APC-398.00284.30276.302.12360.220.0012.951.57
Incl**8.0041.0033.004.44260.110.0014.87
75.8093.5517.752.84360.400.0013.94
185.80196.9511.153.55180.040.0013.78
*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-36, APC-38 and APC-39 (CNW Group/Collective Mining Ltd.)
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 2: Plan View of the Guayabales Project Highlighting the Apollo Target Area (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: Core Photo Highlights from Drill Hole APC-36 (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 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 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.)
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.

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 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.

SOURCE Collective Mining Ltd.

Cision
Cision

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Base Metals Energy Junior Mining Precious Metals

Silver Bullet Mines Corp. (SBMI) Confirms Anomalous Platinum Group Elements (PGE) in Some Samples on Its Richmond Basin, Arizona Property

Burlington, Ontario–(Newsfile Corp. – March 29, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to announce it has received the assay results from a third party independent (ISO 17025-2017) accredited lab, American Assay Laboratories. These are the ‘check assays’ for material tested and reported in September and October, 2022. These results confirm the presence of anomalous platinum group elements (PGE) values in some of the material.

QA/QC

A total of six samples, 6 duplicates, 4 standards and one blank sample were assayed. The samples were collected by the mine crew from various material at the Buckeye Mine and were crushed and ground to a powder at the Company’s assay lab with the powder retained in marked sample bags. A portion of each of these bags was retained and a portion was inserted in another labelled bag and then delivered by a courier in Globe, Arizona to American Assay Laboratories in Nevada. The blank and standards were included as well. American Assay Laboratories used a similar assay finish procedure as the first lab, Lone Pine, namely ICP-MS. Lone Pine used a 4 acid dissolution of a 200 milligram sample and American Assay Laboratories used a sodium peroxide fusion of a 5 gram sample.

To further confirm the presence of platinum a repeat Fire Assay was undertaken. For this method the sample was fused in a ceramic crucible with litharge, sodium carbonate, borax and flour at 1080°C. From this a 25-50 gram lead button was cupelled in a magnesite cupel at 900° for 60 minutes. The silver bead was then parted with concentrated nitric acid followed by hydrochloric acid to generate chlorine and nitrosoyl chloride that dissolved the PGM sponge. Digested samples were read on an ICP-AES.

The PGE results obtained from American Assay Laboratories were in line with a 1995 historic report and that of Lone Pine.

American Assay Laboratories assayed for silver, gold, iridium, osmium, palladium, platinum, rhodium and ruthenium (see chart below). The green highlighted samples relate to standards and the yellow to blanks.



Table 1

To view an enhanced version of this graphic, please visit:
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Based on these results the Company plans to continue its evaluation of the economic potential of PGE on the Buckeye Mine. Samples within the Buckeye Mine upper adit hydrothermal vein system are in the process of being sent to Dr. A. Macdonald at Laurentian University for further analysis, and a selective sampling program is to be initiated. Further testing will be done using ICP-MS as well as NAA (nuclear activation analysis) when warranted.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

The Company also announces that due to time commitments on other projects, J. Birks Bovaird has resigned from the board of directors. The Company thanks him for his tireless commitment to the shareholders.

The Company also announces the appointment to the board of John S. MacKenzie, CPA CA. Mr. MacKenzie will also serve as the board’s chair.

Mr. MacKenzie is currently CFO and a founding shareholder of Critical Minerals Americas Inc., a private exploration stage mining company in Alberta. He is also CFO and a founding shareholder of Evergreen Environmental Inc., engaged in the anaerobic digestion of organic waste and production and sales of RNG.

In the past Mr. MacKenzie was for 13 years the CEO of international heavy jet cargo airline AllCanada Express (ACE) and has since occupied both C-Suite and consulting positions with various mining, aviation, and technology companies. He has extensive financing, lease, purchase and sales experience over dozens of transactions and hundreds of millions of dollars of equipment.

Mr. MacKenzie also has ten years of public accounting experience with Clarkson Gordon / Ernst & Young.

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/160434

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Granite Creek Copper Adds to Board of Directors and Advisory Board

VANCOUVER, BC / ACCESSWIRE / March 29, 2023 / Granite Creek Copper Ltd. (TSXV:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the appointments of Mr. Robert Sennott to the board of directors of the Company and of Mr. Peter Harris, P.Eng., to the Company’s advisory board as it embarks on the next stage of development of the Carmacks copper-gold-silver project in Yukon, Canada. François Lalonde will step down from the board of directors to focus on his leadership role at TSX Venture listed Stellar Africa Gold. Granite Creek wishes to thank François for his dedication and contributions to the board and wish him the best in all his future ventures.

Tim Johnson, President and CEO, stated, “We look forward to working closely with Rob Sennott and Peter Harris as we advance our promising critical mineral projects for copper and molybdenum toward development and production. It is an exciting time for the Company with the recent 43% expansion of the resource at Carmacks and a robust PEA released in January 2023 as well as the acquisition of the 90+ million-pound bulk mineable LS molybdenum resource in central British Columbia. We look forward to providing updates in the near future on the Company’s recently initiated process test work for improved oxide recovery at the Carmacks project and exciting exploration potential for resource expansion developed from our 2022 geophysical and geochemical surveys, proximal to the existing resources.”

Robert Sennott

Rob is a long-time investor, entrepreneur, philanthropist and film producer. He has been a long-time resource investor and is an investor and supporter of each of the three Metallic Group companies. Rob was the founder of Market Intelligence, a real estate information services company, that was acquired by Alleghany Corporation, which in turn was recently acquired by Berkshire Hathaway. He has served on the board of directors of First Community Bank and was a Beige Book respondent for the Federal Reserve Bank of Boston. Rob has also served on the board of a non-profit organization addressing poverty in rural communities, where he brought an entrepreneurial approach to fundraising. Rob’s success in business management and focus on building prosperous communities will be a great benefit to Granite Creek as it moves from exploration stage to developer.

Peter Harris

Peter is a mining engineer with over 40 years of global mining industry experience in project evaluation, development, mine construction and operations. Peter’s career is highlighted by prominent roles with Placer Dome (now Barrick Gold) as Senior Vice President of Project Development and President & CEO of Placer Dome South Africa. He also was part of the early formation of NovaGold Resources as Chief Operating Officer. Peter brings a deep understanding of what it takes to have a successful mining project having been involved in various stages of evaluation, development, construction and operation of over 20 mineral projects in his career in North and South America, Africa, Australia and Papua New Guinea. His experience ranges from high-grade underground operations to large scale open pit deposits of base & precious metals. He has a strong track record of leading corporate development teams in strategic acquisitions, financing as well as structuring of engineering initiatives to optimize costs and identify opportunities. A mine engineering graduate of the University of Newcastle-upon-Tyne with executive and board of director experience in mining and related industries, Peter also led the design and introduction of World Bank recognized employee programs for affected mine-workers related to major mine re-structuring and AIDS programs. Peter’s experience in all aspects of major project and mine development including working with communities will add tremendous value as the company advances to the next stages of development at our critical mineral projects.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the exploration and development of critical minerals projects in North America. The company’s projects consist of its flagship 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., the advance staged LS Molybdenum project and the copper-nickel-PGM Star project both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

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

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

SOURCE: Granite Creek Copper Ltd.



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Granite Creek Copper Acquires 92 million Pound Indicated Historical 43-101 Molybdenum Resource in British Columbia, Canada

VANCOUVER, BC / ACCESSWIRE / March 23, 2023 / Granite Creek Copper Ltd. (TSX.V:GCX)(OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce it has entered into an agreement to acquire a 100% interest in the Lucky Ship molybdenum property (“LS Molybdenum Project” or the “Project”) from two arms length vendors. Under the terms of the agreement the Company has the option to acquire a 100% interest in the Project by issuing 3,750,000 shares over a three-year period and completing exploration work equivalent to two years worth of assessment credit during the first two years of the agreement and four years worth of assessment credit in the third year of the agreement to maintain the mineral claims in good standing.

The LS Molybdenum Project is located within the traditional territory of the Wet’suwet’en First Nation in central British Columbia and is in a region with a long history of mining including the Endako molybdenum mine, Huckleberry copper-molybdenum mine, Equity silver mine and others (see Figure 1 map below). The Project is accessible year-round along a well-developed network of forestry roads, with a high-capacity powerline within 50 kilometers, and paved highway and rail line access within 85 kilometers.

Tim Johnson, President and CEO, stated, “The addition of the LS Molybdenum project to our portfolio of critical minerals fits our strategy of value creation in the critical minerals space in safe political jurisdictions, focused on projects that show district scale potential and are under-explored. The LS Molybdenum project is complementary to our flagship PEA-stage Carmacks copper-gold-silver project where we have expanded the resource by 43% since acquisition and recently delivered a robust PEA in January 2023, highlighting the potential at that high-grade copper-gold-silver project. While we remain focused on advancing and expanding Carmacks, we see an excellent opportunity for creating significant shareholder value with the LS Molybdenum project during a time with few advanced stage molybdenum projects in the global pipeline and recent molybdenum prices trading at multi-decade highs due to the scarcity of supply in the market.”

Mr. Johnson, continued, “Molybdenum is an important critical mineral identified in the Canadian Critical Minerals Strategy used to strengthen steel and with a wide variety of other technical uses in the green economy for high strength – low weight applications such as wind turbines, electric vehicle components, and solar panels. These uses are expected to drive the demand for molybdenum in the coming decades with the International Energy Agency estimating there will be at least a 2.9X growth in the demand for molybdenum by 2040 in clean energy technologies to achieve their Sustainable Development Scenario (SDS)1. Having a resource stage molybdenum asset in North America with potential to significantly grow puts Granite Creek in an excellent position to identify potential industrial partners in search of secure future supplies of molybdenum.”

1International Energy Agency website

About the LS Molybdenum Project

The LS Molybdenum project hosts a porphyry Mo deposit with a granite porphyry stock intruding a larger quartz-felspar porphyry stock in contact with older volcanic and sedimentary rocks. Mineralization occurs as a near-vertical ring of porphyry Mo style stockwork veining between 25 to 125 m in width around the margin of the interior granite porphyry stock. Mineralization remains open at depth with mineralization drilled to approximately 150 to 400 m in depth (see Figure 2 Cross section below). Porphyry Mo systems often have multiple porphyry centers and a number of additional targets remain to be tested.

The Project hosts a historical NI 43-101 molybdenum resource consisting of 65.66 million tonnes averaging 0.064% Mo containing 92.6 million pounds of Mo in the Indicated category with an additional 10.24 million tonnes averaging 0.054% Mo containing 12.2 million pounds Mo in the Inferred category. The Mineral Resource Estimate (“MRE”) was completed by A.C.A. Howe Int. Ltd with an effective date of May 1, 2008 and an amended date of June 30, 2008 to National Instrument 43-101 standards and is believed to be reliable. The resource was estimated using the inverse distance weighting (IDW2) interpolation technique, the search orientations and ranges of which were calculated through variographic analysis and consideration of the geological domain model. The Inferred and Indicated mineral resources were reported at a cut-off grade of 0.030% Mo. The full technical report entitled Technical Report on The Lucky Ship Molybdenum Project Morice Lake Area, Omineca Mining Division, British Columbia for Nanika Resources Inc. will be available on the Company’s website. It is currently available on SEDAR under the Goldbar Resource Incprofile (formerly Nanika Resources), filed July 2, 2008. The resource estimate was made public in a news release dated May 14, 2008 which is also available on SEDAR under the Goldbar profile.

The deposit was subject to a 2007 Preliminary Economic Assessment (“PEA”) completed by A.C.A. Howe Int. Ltd. The comprehensive PEA report has references to metallurgical recoveries, mineralization style, deposit geometry, proposed processing options and project sizing amongst others. The report, entitled Preliminary Economic Assessment of the Lucky Ship Molybdenum Project Morice Lake Area, Ominica Mining Division British Columbia for New Cantech Ventures Inc. is available on SEDAR under the Goldbar Resources Inc profile (formerly Nanika Resources), filed June 19, 2007.

The company cautions that it is not treating the PEA or the MRE as current mineral resources or reserves and the Company has not competed sufficient work to confirm either the MRE or the PEA. Any mention of the PEA or MRE are for reference only and the reports should not be relied on as current. For the company to treat the MRE as current additional work including, but not limited to, resampling, drilling and the implementation of the company’s own Quality Control and Quality Assurance (“QC/QA) program would need to be completed. The PEA would have to be updated in the context of current market conditions by an independent party to be considered current.

Figure 1. LS Molybdenum Project Location

Granite Creek Copper Ltd., Thursday, March 23, 2023, Press release picture
Granite Creek Copper Ltd., Thursday, March 23, 2023, Press release picture

Figure 2 Geological Section

Granite Creek Copper Ltd., Thursday, March 23, 2023, Press release picture
Granite Creek Copper Ltd., Thursday, March 23, 2023, Press release picture

Carmacks Project Oxide Material Testing Underway

As described in the Carmacks PEA technical report, the Company has identified the potential to add significant additional cash flow to the Carmacks project through processing of oxide tailings to increase total copper recovery. Recovery sensitivity from the PEA shows a potential additional $180M pre-tax net present value (“NPV”) based of a 20% increase in recovery rates, which could represent an approximate 55% increase to base case NPV. The work to test the leaching response from this oxide tailings material is currently underway, with results anticipated by mid-2023 with updates to follow.

Qualified Persons

Debbie James, P.Geo., an independent Qualified Person, in accordance with the guidelines of the Canadian Securities Administrators’ National Instrument 43-101 – Standards of Disclosure for Mineral Projects has reviewed and approved the technical content of this news release. Ms. James has reviewed reports on the LS Molybdenum property, but has not made a site visit, and is relying on the work of prior qualified professionals.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the exploration and development of critical minerals projects in North America. The company’s projects consist of its flagship 176 square kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., the advance staged LS Molybdenum project and the copper-nickel-PGM Star project both located in central British Columbia. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

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

Forward-Looking Statements

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

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

SOURCE: Granite Creek Copper Ltd.



View source version on accesswire.com:
https://www.accesswire.com/745388/Granite-Creek-Copper-Acquires-92-million-Pound-Indicated-Historical-43-101-Molybdenum-Resource-in-British-Columbia-Canada

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Top 10 mining podcasts to follow in 2023

Original Source: https://miningdigital.com/top10/Top-10-mining-podcasts-to-follow-in-2023?utm_id=LinkedIn+Newsletter+

For those wanting to learn more about mining and exploration from experts all across the field.

10. Behind the Scenes with Bryan

This podcast typically centres around the field of engineering and frequently explores topics related to mining, with a particular focus on issues such as mining waste management, geoscience, data management, and touches on ESG aspects such as women in mining.

The host, Bryan Ulrich, has over thirty years of experience in the field of engineering, project management, design, construction, analysis, and site investigation related to mining work, and has worked on a multitude of plant-site projects throughout his career.

9. Deep Insights with Mining Review Africa

Hosted by Laura Cornish, the editor-in-chief of Mining Review Africa, the podcast features interviews with industry experts, mining executives, and other key stakeholders who discuss a range of topics related to the African mining industry.

Reaching an audience of over 50 000 influential mining authorities and key decision makers through a variety of channels, the podcast talks about everything from sustainable development across the mining sector in Africa through articles on project developments and the technology and financial models that drive them.

The podcast has an audience over 50,000 key stakeholders in the industry

8. Mining Minds

Mining Minds is a podcast that focuses on the mining industry in Canada, specifically in the province of Ontario. The podcast is produced by the Ontario Mining Association, a trade organisation that represents the mining industry in the province.

Drawing on their own experiences, the hosts take listeners on a journey through the lives of miners, the communities and companies that sustain them, and the unique lifestyles they embrace. The podcast will explore the vital role mining plays in our world while emphasising the crucial need for responsible mining practices that safeguard our environment and secure our future.

7. Exploration Radio

Hosted by a panel of industry experts, Exploration Radio is a podcast that focuses on the exploration of natural resources, including minerals, oil, and gas, the podcast is produced by a team of geoscientists and mining professionals who are passionate about exploration and the discovery of new resources. 

Hosts talk to explorers about the challenges they have faced, what we stand to learn from them and how we can better prepare for the future.

https://youtube.com/watch?v=7HREJ87aAPY%3Fmodestbranding%3D1%26playsinline%3D1%26rel%3D0

6. Full Production with Peter Finn

Full Production with Peter Finn is a podcast that focuses on the mining industry in Australia. The podcast is produced by Newton Consulting, a consulting firm that specialises in the mining industry.

The podcast features interviews with industry experts, mining executives, and other key stakeholders who discuss a range of topics related to the Australian mining industry.

5. Network – Women in Mining South Africa

Covering everything from the importance of mentorship for women in mining to learning how to navigate male-dominated environments, the Women in Mining South Africa podcast supports the empowerment of women in the sector. The podcast features conversations with women who are leaders, entrepreneurs, professionals, and pioneers in the mining industry. Through their stories, listeners can gain insights into the challenges and opportunities that women face in the mining sector, and learn about the strategies and initiatives that are helping to promote gender equality and diversity in the industry.

WiMSA creates an empowering network to inspire, support, and develop the progression of women working in the South African mining industry

4. On the Rocks

Emily King, who is the Founder of Prospector, a geologist, and the Chief Innovation Officer for Analog Gold, hosts a podcast where she interviews special guests about the current state and the future of the mining industry.

The conversations take place over cocktails, and topics covered include space mining, deep sea mining, artificial intelligence, the state of the market, and tales of exploring remote mountains.

3. Proven and Probable 

This US-based mining podcast, Proven and Probable, has been running since 2016 and has released hundreds of episodes, covering topics from gold and silver mining to battery metals and uranium.

The podcast is hosted by Maurice Jackson, who is a mining industry expert and the founder of Proven and Probable, a mining and exploration company.

Episodes cover a wide range of topics, including exploration techniques, mining methods, mineral economics, and investing strategies. Guests on the show share their experiences and expertise in these areas, and also provide their perspectives on current events and trends in the industry.

2. The Northern Miner Podcast

The Northern Miner is a pioneering podcast in the mining industry, with a legacy of over 100 years in serving mining and exploration professionals. The podcast is powered by crucial reports produced by the expert writing staff of The Northern Miner, which help inform the decision-making process of thousands of high-performing mining professionals worldwide.

Episodes of the podcast often cover news and events from around the world, including developments in mining hotspots such as Canada, Australia, and South America. Listeners can expect to hear discussions on topics such as new mining projects, mergers and acquisitions, commodity prices, and regulatory changes that impact the industry.

1. Dig Deep: The Mining Podcast

Coming in at number 1 is the Dig Deep Podcast. Episodes provide listeners with valuable information about the mining industry and how it is evolving, also highlighting emerging technologies and mining methods, as well as the impact of global events on the industry.

Hosted by Rob Tyson, mining head-hunter and founder and director of Mining International Ltd, the podcast features interviews with mining professionals, including geologists, mining executives, investors, and analysts, who share their insights and perspectives on the latest industry news and trends.

One of the unique features of the Dig Deep podcast is its focus on safety in the mining industry. The podcast often discusses safety initiatives and strategies, and provides insights into how mining companies are working to create safer working environments for their employees.

https://youtube.com/watch?v=CH5dw3KIxmE%3Fmodestbranding%3D1%26playsinline%3D1%26rel%3D0

TOP 10 MINING PODCASTSMINING PODCASTSMINING NEWS

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Categories
Energy Junior Mining Precious Metals

Silver Bullet Mines Corp. Processes Gold and Silver From Upper Adit at Buckeye Mine Arizona

Burlington, Ontario–(Newsfile Corp. – March 16, 2023) – Further to its press release of March 3, 2023, Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on the latest processing campaign at its 125 TPD pilot plant.

Over a recent four-day period from March 8 to March 13, 2023, SBMI processed mineralized vein material at its 100% owned mill in Globe, Arizona, from which it recovered concentrate which will be converted to dore bars, confirming the recent mill modification was successful. The mineralized material was taken from the vein structure in the upper adit behind the Treasure Room.

Dore bar poured March 15, 2023.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/158779_a82babf4046d680b_001full.jpg

SBMI is producing an initial batch of dore bars to be sent to a third-party lab for analysis and to potential purchasers for their analysis. One dore bar has previously been sent to a potential purchaser for its analysis.

Calibrated XRF analysis have confirmed recovered gold in these dore bars, including one bar that analyzed 0.382 % gold. The XRF analysis shows the dore consists primarily of silver and copper, with gold, zinc, nickel, lead and iron. No deleterious material was found in the dore bar. This confirms the previous findings of Dr. Andrew Macdonald from the Harquail School of Earth Sciences at Laurentian University in Sudbury, Ontario on the silver contained within a sample collected from the floor of the Treasure Room area.

The crushing circuit of the mill is running at optimal efficiency. The grinding and gravity circuits were run at approximately 50% capacity while being optimized. The number of tons of mineralized material to be processed per hour will be increased as optimization continues and as a result of grade control assay results processed at SBMI’s lab at the millsite.

To feed the mill, the Company has accumulated a significant stockpile of mineralized material at the Buckeye Mine for transportation to the mill site. Mining is ongoing in 150 ton (136 tonne) rounds, with four rounds per week, advancing at 12 feet (3.7 metres) per round.

Next steps include increasing the tonnage being shipped from the Buckeye Mine to the mill, continuing mining of the historical higher grade zone, filling the outstanding order, sourcing other purchasers, and continuing to improve operational performance at the Buckeye Mine and at the mill.

SBMI previously announced that it had received an order for 50 kg (1,760 ounces) of silver. The entity that placed that order has advised SBMI that it intends to increase that order to a minimum of 500 kg (17,600 ounces) per month. Management reasonably believes it will be able to satisfy that increased order for the foreseeable future. To decrease risk, the Company is currently in discussions with several additional potential purchasers.

Higher grade samples and dore bars, and what the field team believes to be bornite, will be sent to Harquail School of Earth Sciences for further detailed analysis. See the photo below.

The potential bornite at the Buckeye Mine is believed to be found as a hydrothermal mineral in fractures in cooler areas of the fluid migration. Association with native silver and other precious minerals have been known to occur in such mineralized situations. Further analysis of the potential bornite mineralization is ongoing.

Recent sample collected from the Buckeye Mine upper adit @ 450 feet from the portal entrance.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/158779_a82babf4046d680b_002full.jpg

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

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.

Categories
Base Metals Energy Junior Mining Precious Metals

Collective Mining Drills 359.15 Metres at 3.32 g/t Gold Equivalent from Surface, Including 35.30 Metres at 8.06 g/t Gold Equivalent in Oxides at the Apollo Porphyry System

  • Assay results for two holes APC-33 and APC-35, intended to test the mineralized outcrop of the Apollo porphyry system, intersected significant continuous high-grade copper-silver-gold mineralization from surface as follows:
  • The intersection in drill hole APC-35 is the highest grade (grams X metres) hole drilled to date at the Apollo porphyry system.
  • Both holes terminated while still in strong mineralization at over 350 metres vertical depth. Deeper drilling is planned as part of the 2023 Phase II program.
  • Significant and continuous copper mineralization was intersected in both drill holes beginning directly below the oxide zone of mineralization and continuing to the end of the holes.
  • Four additional drill holes have been completed from drill Pads 6 and 7 with all four holes appearing to have intersected continuous mineralization from bedrock to downhole lengths of up to 275 metres. Assay results are pending.
  • Outcrop mapping and sampling in the south and central portions of the Apollo porphyry system has outlined a 130 metres X 130 metres area of known surface mineralization which is open in all directions. Two new pads (9 and 10) are under construction and once operational will provide more drilling options to test this expanding area of surface and shallow mineralization.

Ari Sussman, Executive Chairman commented: “The Apollo deposit continues to demonstrate that it is in a rare class of discoveries combining both high-grades of copper, silver and gold hosted within a bulk tonnage porphyry system. Surprises through drilling continue to be positive with APC-35 being the highest grade intercept at the project to date. Importantly, the hole began and ended in two separate high-grade subzones of mineralization. Once the shallow portion of the drill program is completed in the coming weeks, we will immediately begin drilling significantly longer holes to test the full potential of the system from surface to depth. Assay turnaround continues to be quick and more results are expected in the near term.”

TORONTO, March 15, 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 6 as part of the Phase II program at 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 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 (low and intermediate sulphidation porphyry veins) within a magmatic, hydrothermal intermineral breccia body currently measuring 395 metres x 385 metres x 915 metres and open for expansion.

To watch a short video of David Reading, Special Advisor to Collective Mining, speak about the assay results announced today, please click here.

Details (See Table 1 and Figures 1-3)

The Phase II drilling program of 2023 is advancing on schedule with seven holes completed and a further three in progress. 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 34 drill holes (approximately 16,000 metres) have been completed and assayed at the Apollo target with the majority of the holes testing the Apollo porphyry system.

Assay results for the first drill hole (APC-31) from the 2023 Phase II program was announced on February 23, 2023 and intersected 384.7 Metres at 2.46 g/t Gold Equivalent from surface which included high-grade oxide mineralization of 42.35 metres averaging 5.08 g/t gold equivalent.

A further two holes, APC-33 and APC-35 have now been completed from Pad 6 with assay results and geological observations summarized below.

APC-35 was drilled steeply to the northwest from Pad 6 to a maximum depth of 366.15 metres (350 metres vertical). The hole was designed to test the potential for shallow, high-grade mineralization located 50 metres west of APC-31. The hole intersected continuous mineralization from surface down to its final depth where it was terminated while still in strong mineralization (final 3.45m averaging 1.11 g/t gold equivalent). APC-35 is the highest-grade mineralization (grams X metres) reported from drilling to date as follows:

  • 359.15 metres @ 3.32 g/t gold equivalent (consisting of 1.84 g/t gold, 48 g/t silver and 0.48% copper) including:

The mineralized interval starts directly below overburden at 7 metres and into saprolite and oxide material until 42.30 metres before transitioning into fresh mineralized angular breccia rock consisting of chalcopyrite (0.2% to 1.5%), pyrite (1% to 2%) and some pyrrhotite (~1%). The mineralization is overprinted by carbonate-base metal veins containing sphalerite and galena and high grades of gold particularly from 318.30 metres downhole. Gold grades are significantly higher in the oxidized portion of the intercept while copper and silver grades are consistently high throughout the whole intercept below the oxidized zone.

APC-33 was drilled steeply to the north from Pad 6 to a maximum depth of 381.35 metres (360 metres vertical). The hole was also designed to test the potential for shallow, high grade mineralization located 50 metres east of APC-31. The hole intersected continuous mineralization from surface down to its final depth where it was terminated while still in strong mineralization (last 4.44 metres grade 1.7 g/t gold equivalent) and averaged:

  • 374.70 metres @ 2.22 g/t gold equivalent (consisting of 0.85 g/t gold, 53 g/t silver and 0.34% copper) including:

The mineralized interval starts directly below overburden at 6.65 metres and into saprolite and oxide material until 49.50 metres before transitioning into fresh mineralized angular breccia rock consisting of chalcopyrite (0.2% to 1.2%), pyrite (1% to 2.5%) and some pyrrhotite (~1%). The sulphides fill the breccia matrix and are surrounded by clasts of quartz diorite and diorite. The mineralization is overprinted by carbonate-base metal veins containing sphalerite and galena. Gold grades are significantly higher in the oxidized portion of the intercept where copper grades are depleted.

Outcrop mapping and sampling in the south and central portions of the system has outlined a 130 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. Visual observations from another four completed holes indicate continuous intercepts from surface over core lengths ranging from more than 100 metres to more than 275 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, are under construction to provide further drilling options to test and expand upon the area which the Apollo porphyry system outcrops at surface.

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 find more outcrop areas with porphyry veining, breccia, and late stage, sheeted, carbonate base metal veins.

Table 1: Assays Results for APC-33 and APC-35

HoleIDFrom
 (m)		To
(m)		Intercept
Interval
(m)		Au
(g/t)		Ag
(g/t)		Cu
%		Mo
%		AuEq
(g/t)*		CuEq(%)**
APC-336.65381.35374.700.85530.340.0022.221.21
Inlc**6.6549.5042.853.87400.120.0014.50
APC-357.00366.15359.151.84480.480.0023.321.82
Incl**7.0042.3035.307.96220.090.0018.06
318.30366.1547.855.47190.050.0025.58
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) i:  (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) 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 5.0 x 0.95). utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/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
Oxidation zone**
Figure 1: Plan View of the Apollo Porphyry System Highlighting Drill Holes APC-33 & APC-35 (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of the Apollo Porphyry System Highlighting Drill Holes APC-33 & APC-35 (CNW Group/Collective Mining Ltd.)
Figure 2: Core Photo Highlights and Cross Section for Drill Holes APC-33 and APC-35 (CNW Group/Collective Mining Ltd.)
Figure 2: Core Photo Highlights and Cross Section for Drill Holes APC-33 and APC-35 (CNW Group/Collective Mining Ltd.)
Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)
Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The Company’s near-term objective is to drill the shallow portion of the porphyry system while continuing to expansion the overall dimensions of the system, which remains open in all directions.

Management, insiders and close family and friends own nearly 52% 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.

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.

SOURCE Collective Mining Ltd.

Cision
Cision

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Categories
Base Metals Energy Junior Mining Precious Metals

Goldshore Intersects Multiple New Parallel Shears Increasing Width of QES Zone by Over 100 meters – Including 1.33 g/t Au over 54.45m

Vancouver, British Columbia–(Newsfile Corp. – March 14, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Gold Project“).

Highlights:

  • Results from seven holes in-filling the QES Zone have confirmed wide zones of gold mineralization containing multiple, closely spaced high grade shears in previously poorly drilled volumes with best intercepts of:
  • Additionally, these holes intersected parallel mineralized shears at shallow depths south of the main QES zone which are open along strike and expand the cumulative width of the QES Zone by over 100m to 620m. Best intercepts include:

President and CEO Brett Richards stated: “As previously illustrated throughout the last 12 months of publishing drill results, these results continue to support our thesis that the size and scale of the Moss Gold Project will be large enough to support a material and meaningful update to the mineral resource estimate, which is expected in April 2023, followed by a preliminary economic assessment on the updated resource. We continue to find additions to the resource on step out holes laterally and along strike from the historic resource profile, and QES continues to widen with continued mineralization to be tested to make it even wider. We look forward to seeing the impact of these additions to the resource model.”

Technical Overview

Figure 1 shows the better intercepts in plan view and Figure 2 is a typical section through hole MQD-22-100 and -104. Table 1 shows the significant intercepts. Table 2 shows the drill hole locations.

Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to the current Mineral Resource and highlighting the additional shears.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/158334_fe74b843e49a68d9_002full.jpg

Figure 2: Drill section through MQD-22-100 and -104 relative to the current Mineral Resource and highlighting the additional shears and potential to significantly deepen the open pit shell.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/158334_fe74b843e49a68d9_003full.jpg

These most recent results continue to build on the successful winter infill and expansion program at the QES Zone. The robust widths and consistent gold grades in all seven holes provide strong confirmation of the geological interpretation, and significantly increase the resolution of data in hitherto poorly defined volumes.

Holes MQD-22-098, -100, -102 and -103 were focused on closing gaps in the existing drill pattern at shallower elevations. All four holes intercepted a tightly spaced set of narrow, high grade shear zones within a broad envelope of strongly altered granodiorite.

Holes MQD-22-099, -101 and -104 were stepped back to the southeast to test the deeper portion of the eastern end of the QES Zone. These holes have defined the true width of the high- and low-grade mineralized domains in an area of widely spaced and partially sampled historical drilling. In addition to these deeper intercepts on the main QES shear zone, all three holes generated significant high-grade intercepts at shallow depths which define a series of parallel mineralized shears in sericite-hematite altered volcanics and narrow diorite intrusive bodies 200m to the south of the main QES Zone.

Figure 3: Drill core from 112-123m (1m @ 22.1g/t Au) in MQD-22-100 highlighting a mineralized quartz-rhodochrosite vein within the sheared, altered intrusion. Note that this photo is not intended to be representative of broader mineralization on the Moss Lake Gold Project.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/158334_fe74b843e49a68d9_004full.jpg

Pete Flindell, VP Exploration for Goldshore, said “These results confirm our belief that the Moss Gold deposit is wider and deeper than previously thought – now filling a 600-700-meter-wide corridor – and that there are many more shears hosting high-grade gold mineralization. This will assist our goal of expanding the mineral resource and improving its quality in April 2023.”

Table 1: Significant downhole gold intercepts

HOLEIDFROMTOLENGTH
(m)		TRUE WIDTH
(m)		CUT GRADE
(g/tAu)		UNCUT GRADE
(g/tAu)
MQD-22-098122.00124.002.001.40.320.32
245.00279.8034.8026.30.650.65
including254.90258.954.053.02.682.68
and269.00273.004.003.01.681.68
298.00364.0066.0050.90.590.59
including307.00315.008.006.11.031.03
397.00407.0010.007.90.380.38
529.00533.004.003.30.370.37
MQD-22-09918.0020.002.001.30.450.45
183.35205.5522.2015.50.510.51
256.00258.002.001.40.510.51
280.00285.005.003.60.320.32
294.30309.0014.7010.80.510.51
379.00394.0015.0011.30.450.45
including382.00385.003.002.31.231.23
410.00412.002.001.50.320.32
425.00435.5010.508.00.330.33
461.65469.607.956.20.390.39
540.90548.107.205.70.510.51
555.90557.952.051.60.380.38
576.00579.303.302.60.350.35
591.15635.4544.3035.81.061.06
including594.00621.1027.1021.91.551.55
MQD-22-10099.40104.004.602.80.310.31
119.05130.2511.207.02.232.23
168.05189.8521.8014.10.540.54
including187.60189.852.251.52.302.30
208.40393.95185.55128.70.480.48
including287.80290.002.201.51.021.02
and310.05314.003.952.81.071.07
and335.00339.904.903.51.131.13
and346.25359.0012.759.11.671.67
409.00418.009.006.70.360.36
436.00456.2520.2515.20.740.74
including439.00449.0010.007.51.091.09
496.00500.004.003.00.320.32
MQD-22-10191.0093.602.601.75.905.90
179.80196.6016.8011.60.570.57
including192.55194.802.251.62.612.61
215.05272.0056.9540.30.390.39
including231.90234.552.651.91.291.29
325.00357.0032.0023.40.410.41
including345.10347.602.501.81.761.76
375.00379.154.153.10.420.42
425.85447.0021.1515.90.310.31
464.40467.002.602.00.330.33
502.00517.5015.5012.00.370.37
528.00562.2034.2026.70.480.48
including533.10539.306.204.81.041.04
614.65676.0061.3549.50.810.81
including623.35638.0014.6511.81.181.18
and643.00657.7514.7511.91.001.00
and661.80668.006.205.01.501.50
710.90714.954.053.30.340.34
728.05737.159.107.50.300.30
745.80750.004.203.50.480.48
MQD-22-10223.8029.505.704.10.340.34
166.50170.804.303.20.350.35
193.05274.0080.9563.70.740.74
including205.00209.004.003.11.731.73
and246.10266.1020.0016.01.431.43
291.00298.607.606.20.340.34
324.00352.0028.0023.00.690.69
including329.00334.605.604.62.222.22
369.00372.003.002.50.460.46
MQD-22-103114.45134.0019.5513.50.310.31
140.05158.0017.9512.60.410.41
168.40178.9510.557.50.750.75
190.00267.0077.0056.80.710.71
including203.00219.0016.0011.61.431.43
and262.10264.652.551.95.105.10
279.00284.655.654.31.711.71
including280.35282.952.602.03.213.21
435.90449.0013.1010.40.630.63
MQD-22-104112.70121.208.505.82.412.41
220.80236.8516.0511.60.700.70
249.00252.203.202.30.470.47
290.90296.655.754.30.640.64
473.05483.009.957.90.460.46
495.80521.0025.2020.10.310.31
533.80557.0023.2018.70.590.59
including544.00547.003.002.41.521.52
568.00575.507.506.10.940.94
593.00713.65120.65101.20.860.86
including614.00628.2014.2011.81.061.06
and657.00711.4554.4546.11.331.33
726.00731.105.104.40.520.52
755.70760.454.754.10.560.56
771.05778.857.806.70.310.31

Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Bordered intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

Table 2: Location of drill holes in this press release

HOLEEASTNORTHRLAZIMUTHDIPEOH
MQD-22-098669,8295,379,161431337°-49°651
MQD-22-099670,6645,379,431433336°-50°750
MQD-22-100670,4775,379,624428335°-55°525
MQD-22-101670,6065,379,384441337°-51°750
MQD-22-102670,3985,379,573428336°-45°402
MQD-22-103670,1625,379,469428336°-50°552
MQD-22-104670,5285,379,315441339°-50°801

Analytical and QA/QC Procedures

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).

In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.

About Goldshore

Goldshore is an emerging junior gold development company, and owns 100% of the Moss Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an approximate 22% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Gold Project through the next stages of exploration and development.

Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.

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

For More Information – Please Contact:

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

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

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project, the release of an updated mineral resource estimate and preliminary economic assessment, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Categories
Diamcor Mining Junior Mining Precious Metals

Diamcor Recovers 45.15 Carat Gem Quality Diamond and Provides Update on Procurement of Power System

KELOWNA, BC / ACCESSWIRE / March 13, 2023 / Diamcor Mining Inc. (TSX-V:DMI)(OTCQB:DMIFF)(FRA:DC3A), (“Diamcor” or, the “Company”) is pleased to announce the recovery of a 45.15 carat gem quality rough diamond from the processing of quarry material at the Company’s Krone-Endora at Venetia Project (the “Project”). This 45.15 carat large rough diamond in the Specials category (+10.8 carats) follows the previously recovered 72.53 carat gem quality rough diamond announced on February 21, 2023. The recovery of this second large gem quality rough diamond, along with the pending sale of approximately 2,000 additional carats delivered for tender and sale, is expected to positively impact revenues and offset the lower than anticipated current processing volumes associated with the ongoing power load-shedding currently being experienced in South Africa.

The Company is also pleased to provide a further update on the progress on the procurement and installation of a comprehensive long-term supplementary power solution at the Project. Various options were evaluated by the Company’s operational management team throughout 2022 in anticipation of potential issues with consistent power supply in South Africa, with the main focus being to provide the Project with systems to eliminate potential downtime and lost processing time at the Project. The chosen system will incorporate various items including a large Battery Energy Storage System (“BESS”) element, power conditioning, switching systems, and generator backup systems. The solution has been designed to provide the Project with a globally recognised tier 1 energy management system to provide a long-term seamless uninterrupted transition between traditional grid power supply, battery systems, and generator backup systems. In addition, the system will provide power conditioning to “clean” all power being supplied to the Project’s processing plant, which is expected to provide significant benefits including increased reliability of electronics while lowering maintenance on the processing plant’s electrical systems. The Company is expediting these efforts due to the current elevated issues surrounding the inconsistent supply of power in South Africa by Eskom, the national power supplier. The Company is targeting the installation of these systems to be completed prior to the end of the next quarter.

Highlights

  • Continued Tender and Sale of Rough Diamonds. While the total carats of rough diamonds tendered and sold in the current quarter continues to be lower than anticipated due to widely reported increases in daily load-shedding / power outages throughout South Africa, ongoing efforts to maximize recoveries and the continued recovery of larger gem-quality rough diamonds in the Specials category are expected to offset this issue in the near-term.
  • Average Dollar Per Carat Increases in Period. The combination of the Project’s relatively high percentage of gem quality diamonds recovered to date, along with the recent recovery of two large gem quality special rough diamonds, is expected to have a positive impact on the average dollar per carat for the current period. Tender and sales totaling 1,538.62 carats of rough diamonds in the current quarter to date has generated gross revenues of USD $980,696.08, resulting in an average dollar per carat of USD $637.39.
  • Recovery of Large Gem Quality Rough Diamonds. Even while operating at restricted processing levels, the Company’s recovery of the previously announced 72.53 carat diamond gem quality rough diamond and the recent recovery of the above mentioned 45.15 carat gem quality rough diamond in the current quarter continues to confirm the potential for these types of large rough diamonds to be recovered from the Project’s deposits and provide positive impact to gross revenues.
  • Continued Rough Diamond Recoveries. The Company continues to process material and manage inconsistencies in power supply delivering approximately 2,000 carats of additional rough diamonds for tender and sale. Additional rough diamonds recovered prior to March 31, 2023, will either be tendered and sold in a final tender and sale of the current period, or held as stock on hand at the end of the period, and tendered in the Company’s next quarter.
  • Continued Progress on the Procurement and Installation of Power Systems. The Company’s operational team continues to advance the previously announced installation of comprehensive systems aimed at mitigating the long-term impact any potential load-shedding has had on the Project. Installation of this system is targeted for completion at the end of the Company’s next fiscal quarter.

“The recent recovery of another larger gem quality 45.15 carat rough diamond will provide further revenue during the period, and additional confirmation of the Project’s potential to continue recovering these larger rough diamonds”, stated Mr. Dean Taylor, Diamcor CEO. “We certainly look forward to the near-term implementation of the back-up power systems to remove current limitations on processing volumes, and with that, return our focus to efforts aimed at expanding our understanding of the potential deposits on the greater areas of 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 very low-cost mining 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.



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