Regular readers are well aware of how much respect I have for the Daily Sentiment Indicator from Jake Bernstein. It is simply the most valuable tool I have come across in investing. We are at an interesting point where a number of commodities and indexes are showing extremes of emotion normally found only at tops or bottoms. This time may be different but only time will tell.
For anyone who has been awake lately the stock/bond/currency crash many have foreseen is in action right now. There is this simple issue of there being far more debt in the world than can be paid so at some point we need to settle the books. Either the borrowers pay the debt or the lenders. And obviously now it is the lenders. It is probably the worst liquidity event in history.
This is the start of the biggest financial change in five hundred years as the debt based Western financial system collapses and like a dying scorpion stings everything in range as a result. Russia and China are working with the 65% of the rest of the world who do not support either the actions of Nato and the US in Ukraine or sanctions against Russia.
There will be a new financial system. As of now Russia is still saying it will be a basket of currencies but if they have any sense, they will shave off a lot of wasted effort and just go straight to a gold and silver based currency.
The conflict in Ukraine literally is a battle between good and evil with the WEF/NATO/the EU and US on one side and the rest of the world on the other. The EU and NATO are literally committing suicide. That will be as obvious as a pimple on the tip of your nose soon this fall as Europe finds itself in a state of revolution against the massive stupidity of the EU leaders.
In the midst of an energy crisis Belgium voluntarily shut down one of their remaining nuclear power plants on Friday at a time where 64% of Belgians believe they cannot afford to pay their energy bills. That’s not Putin, that’s just basic fucking stupidity. Is it no longer just a requirement for world leaders to be sociopaths but also they must be mental midgets? With perhaps the sole exception of Oban, the rest of the flock are brain dead idiots who couldn’t lead their way out of a wet paper bag.
The dollar index has been flying lately. Readers should understand the dollar index does not have anything to do with measuring the value of the dollar except in terms of other currencies, mainly the Yen, the Euro and the British Pound. On Friday the DSI for the dollar index stood a value of 97. In the 33 years the index has been tracked by the DSI it has hit 98 only once and 97 only three times. In rational times the dollar index would be topping.
As of Friday the DSI for the British Pound was 5 along with the Canadian Dollar and the Australian Dollar. The S&P stood at 5 with the Nasdaq. I suspect the rocket higher in the DXY had more to do with the stupidity of the UK Prime Minister doing her best to destroy the value of the Pound in her rush to the bottom among currencies. There is an excellent chance we will see the continuation of the stock market crash this week, at least through Tuesday.
With the penny juniors in the mining area falling off a cliff on Friday with massive drops across the board, we are starting to see capitulation. While it is painful to watch your investments dropping by double digits daily, this is where wise investors make their fortunes. The market will rocket higher just as soon as those silly investors who used margin finish selling off the last of their investments just to meet a margin call.
These sorts of opportunities only come once in a lifetime. Prepare yourself to rake up the falling fruit. This is a quote from Basic Investing in Resource Stocks.
“Weak hands buy at tops and sell at bottoms. Strong hands buy at bottoms and sell at tops. It’s vital that investors remember that at every top there are 50 reasons to buy, and at every bottom there are 50 reasons to sell. That’s what makes them tops and bottoms.”
The DXY, S&P and Nasdaq are nearing a massive turn soon. Gold and silver will resume their climb and when the capitulation in resource stocks end, they will rocket higher.
Burlington, Ontario–(Newsfile Corp. – September 26, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) has assayed, among other elements, significant quantities of palladium and gold in the mineralized material from its Buckeye Silver Mine in Arizona. These surprise discoveries are not factored into any of the Company’s internal financial projections. This mineralized material was taken from a newly exposed section at the Buckeye.
Palladium is currently trading at roughly USD$2,100 per ounce and gold is currently trading at roughly USD$1,650 per ounce. For reference below, SBMI notes that one ppm (part per million) is equivalent to one gram per tonne. There are 28.35 grams in one ounce.
How The Gold and Palladium Were Found
The gold and palladium were discovered after SBMI initially processed roughly 60 tons of Buckeye Mine material at its 100%-owned mill, and then encountered challenges in pouring proper silver dore bars to satisfy the outstanding sample run order. An example of such challenges is in the picture below.
Recent dore bar from material bulk sampled at the Buckeye
To help identify the possible source of this, SBMI sent a sample (the “First Batch”) on September 7, 2022, from its concentrates of the 60 ton bulk sample to Lone Pine Analytical, a third-party lab, for further analysis. That analysis completed on September 11, 2022 revealed, from this sample, being an average of 2 collected concentrate samples, elevated levels of palladium and gold, as per the chart below:
Element
Unit
Concentration
Report
(Duplicates)
Limits
Au
ppm
(1) 50.8
0.05
(2) 38.1
Pd
ppm
(1) 83.8
0.05
(2) 80.0
Pt
ppm
(1) .0457
0.05
(2) .667
Rh
ppm
(1) .150
0.05
(2) .255
Ir
ppm
(1) 0.172
0.05
(2) .308
Os
ppm
(1) .572
0.05
(2) .382
Ru
ppm
(1) ND
0.05
(2) ND
In response to these unusual values, SBMI will be undertaking referee sampling with another independent third-party ISO accredited lab.
“Those are astonishing results for the gold and palladium,” said A. John Carter, SBMI’s CEO. “To the best of our knowledge the only significant producer of palladium in the United States of America is Sibanye-Stillwater in Montana, so this is a possible game-changer, not just for SBMI but for platinim group metal exploration in Arizona. We have heard anecdotal evidence of Pt-Pd production as a by-product of porphyry mining in the Globe area and have seen data from a local prospective Pt-Pd property, but we are still investigating what our results mean. At this time the Company is actively investigating the source and recovery of the anomalous palladium and gold values and are currently engaging additional technical support in this pursuit.”
The Company believes the results above are representative of the 60 tons of the material extracted from the Buckeye Mine.
Second Batch Samples From a 140 ton Bulk Sample
SBMI then took, from another larger bulk sample, a sample batch (the “Second Batch”) of a further seven samples from various locations in the mill. This bulk sample represents roughly 140 tons of material from the Buckeye Mine. SBMI’s assay team had initially assayed those samples for silver only. Subsequently, each of the following samples from this 140 ton bulk sample were labelled with unique identifiers as shown below:
Head Feed 700 oz/Ton Ag
100 gm 2503oz/Ton Ag Conc
#1 Table Cons. Original
#1 Table Cons from Mill
#2 Table Cons from Mill
Tails
Dorie Bead
Those labels were provided by SBMI’s assay team to Lone Pine Analytics by the leader of SBMI’s assay team, Mr. Robert Budd, who also collected and assayed those samples for silver. SBMI has on prior occasions and on its website made disclosure of Mr. Budd’s credentials and QAQC processes, and will include these matters below in the QA/QC for SBMI.
Second Batch Samples to Lone Pine Analytics
After being assayed for silver only by SBMI, the Second Batch was then sent to Lone Pine Analytical for further analysis of additional elements. The average values for Au and Pd of the 7 samples returned from Long Pine Analytics for the gold and the palladium were as follows:
The Company believes these results are representative of the 140 ton bulk sample. The complete assay certificates with a photo of each sample will be posted to the Company’s website.
In response to these unusual values, SBMI will be undertaking referee sampling with another independent third party ISO accredited lab.
All of the roughly 200 tons of material (combined from the 2 bulk samples) were taken directly from the vein accessed at the lower drift. All 200 tons were taken and processed in the normal course, with no selective sampling.
“We made a decision early on to build our own mill in Arizona to high standards, and as a result we have been able to immediately recognize there were significant amounts of elements other than silver in this new material” continued Mr. Carter. “Standard exploration techniques may not have found the gold or palladium without the expenditure of millions of exploration dollars. We are there now, more quickly for much less money.”
SBMI has found a potential buyer for the concentrates who is likely able to process the palladium in addition to the gold and silver, but before making final decisions SBMI is waiting on further assay data and input from metallurgists, engineers and others.
QAQC For SBMI
All the samples above were collected by Mr. Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. He has also been the the Principal Process Specialist for Fluor Canada out of Vancouver, the Senior Metallurgical Engineer for Doe Run Lead, the Project Engineer for the commissioning of a copper concentrator start-up at Oz Minerals’ Prominent Hill Mine in South Australia, Senior Metallurgical Engineer for Cyprus Miami/Phelps Dodge Miami in Arizona, Metallurgical Engineer and Metallurgical Lab Supervisor for Newmont Gold in Nevada, and Chief Metallurgist for Inspiration/Cyprus Miami in Arizona among other positions.
The samples analyzed by SBMI at its facility near Globe, Arizona were processed by Mr. Budd through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.
QAQC For Lone Pine Analytics
For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2023, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks
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 ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
Plan View of the Guayabales Project Highlighting the Apollo Target
Figure 2
Plan View of the Main Breccia Discovery at the Apollo Target, Highlighting in Green the Newly Discovered Areas Where the Main Breccia Outcrops at Surface and Assay Results from Drill Holes Announced to Date
Figure 3
Photos of Various Surface Exposures of Angular Breccia Discovered to the North and East of Drill Pad 3
Recent geological mapping of rocks exposed by pad 3 drill access tracks have confirmed that the Main Breccia discovery at the Apollo Target daylights at surface north and east of the drill pad.
Recently completed drill hole, APC-14, which was drilled due north from pad 3, intersected the Main Breccia approximately 50 metres below the newly discovered northern outcrop. The hole cut more than 240 metres in total of favorable mineralization within the Main Breccia. Assay results for drill holes APC-11 through APC-14 are anticipated in the near term.
Visual observation of the shallow portion of drill hole APC-14, indicates a marked increase in chalcopyrite leading to the possibility that copper grades will be higher than seen elsewhere in the Main Breccia discovery. Additionally, the Company’s conviction that the porphyry source for the Main Breccia discovery lies due south has now been increased. As a result, exploratory drill holes are currently being finalized to test the southern porphyry target.
The discovery of the northern outcrop of the Main Breccia coupled with visual observations in drill hole APC-14 has extended the strike length of the system to the southwest by 35 metres. As a result, the Main Breccia discovery now measures 385 metres in strike by 100 metres across by 500 metres vertical and remains open in most directions for further expansion. With respect to the eastern outcrop, exploration drilling is required to determine its geometry and how it might connect with the Main Breccia as presently it lies outside of the current working model.
TORONTO, Sept. 22, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that visual observations from outcrop mapping and shallow diamond drill hole APC-14, confirm that the Main Breccia discovery at the Apollo target (“Apollo”) daylights at surface over significant areas located to the north and east of drill pad 3 in the southern part of the discovery. Apollo is one of eight grassroot generated porphyry related targets at the Guayabales project, located in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target with previously announced intercepts including hole APC-2, which intersected 207.15 metres @ 2.68 g/t AuEq and APC-8, which intersected 265.75 metres @ 2.44 g/t gold equivalent (See press releases dated August 10th and September 13th respectively). As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.
“Confirmation that the Main Breccia discovery at Apollo extends to surface enhances future possibilities for the project. Additionally, the fact that we see a noticeable increase in chalcopyrite near surface in the southern part of the Main Breccia discovery has our team excited that the porphyry source is nearby and is likely located beneath the robust, yet untested high-grade copper-in-soil anomaly located due south of drill pad 3. As a result, our team is busy planning exploration drill holes to test for the porphyry source with additional details to be provided shortly,” commented Ari Sussman, Executive Chairman.
Details (See Figures 1 to 3)
The Company recently completed geological mapping of new outcrop exposure created by tracks designed to service the drill rig at Pad 3 at Apollo. This work has confirmed exposure of mineralized angular breccia at surface as part of the Main Breccia discovery first announced by the Company on June 22, 2022. Logging visuals from recently completed diamond hole APC-14, which was drilled beneath a portion of the northern outcrop area, intersected mineralized angular breccia commencing at 50 metres vertically below surface. The following observations are highlighted:
During the last two weeks the surface exploration team has identified various outcrops with mineralized angular breccia locating north of Pad 3. Geological observations in all outcrop areas highlight mineralized angular breccia with iron oxides and sulfides within the matrix between the clasts with a partial overprint of sericite alteration. Two historical samples taken from a very limited exposure of breccia outcrop within this area returned 0.6 g/t gold,18 g/t silver and 0.1% copper and 4.1 g/t gold and 29.3 g/t silver respectively. The recently excavated surface exposures have been systematically sampled and assay results are pending.
Visual observations from a recently completed diamond hole, APC-14, drilled to the north from Pad 3 and directly underneath a portion of the northern outcrop area, highlighted the presence of angular breccia hosting pyrite and significant chalcopyrite mineralization in disseminations and as replacement within the breccia matrix. This hole intercepted mineralized breccia from approximately 84 metres downhole (50 metres vertical) down to 132 metres with a second zone commencing at 197 metres and finishing at approximately 391 metres downhole. Assay results for this and other holes are expected in the near term.
The Apollo target area, as defined to date by limited surface outcrops, rock sampling of CBM veins and available breccia exposures plus copper and molybdenum soil geochemistry, covers an 800-meter X 700-meter area. This Apollo target area hosts the Company’s new grassroots Main Breccia discovery which, based on recent drill results, measures up to 385 metres in strike length by 100 metres in width and 500 metres vertical. The Main Breccia discovery remains open in most directions and drill holes will continue to confirm and expand the discovery. Within the broader target there are additional, yet untested breccia, porphyry and vein targets which could facilitate further expansion at Apollo.
To see our latest corporate presentation and related information, please visit www.collectivemining.com
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. 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 currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company has made significant grassroots discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and recently, at the Apollo target, 207.15 metres at 2.68 g/t AuEq, 180.6 metres at 2.43 g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)
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.
Contact Information
Collective Mining Ltd. Steven Gold, Vice President, Corporate Development and Investor Relations Tel. (416) 648-4065
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.
NORTH VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) —
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has entered into an agreement with Eight Capital and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners (the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis,16,240,000 units of the Company (the “Units“) at a price of C$0.77 per Unit (the “Issue Price”), for total gross proceeds of C$12,504,800 (the “Offering“).
Each Unit will consist of one common share (a “Common Share”) in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price per Warrant Share of C$1.05 for a period of 36 months from the closing date of the Offering.
If, following the closing of the Offering, the volume weighted average trading price of the Common Shares on the principal exchange on which the Shares are listed for any 20 consecutive trading days equals or exceeds C$1.75, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice
In addition, the Company has agreed to grant the Underwriters an option (the “Over-Allotment Option”), exercisable in whole or in part, for a period of 30 days after the closing of the Offering, to purchase up to an additional 15% of the number of Units sold pursuant to the Offering, on the same terms as the Offering, to cover over-allotments and for market stabilization purposes.https://embed.fireplace.yahoo.com/embed
The net proceeds from the sale of the Units will be used for exploration and development of the Company’s Tuvatu Gold Project, as well as working capital and general corporate purposes.
The Units will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated May 13, 2022. The Prospectus Supplement will be filed in Alberta, British Columbia and Ontario and, together with the related base shelf prospectus, will be available on SEDAR at www.sedar.com.
Closing of the Offering is expected to take place on or about September 28, 2022 and is subject to certain conditions including, but not limited to the receipt of all applicable regulatory approvals including approval of the TSX Venture Exchange.
The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff” Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that it has signed a letter of intent (“LOI”) to option a 100% ownership interest in a claystone lithium project located in the state of Nevada, USA. The land package under option is a district scale lithium claystone deposit situated on Bureau of Land Management land.
Nevada Claystone Lithium Project The Company, through the vendor of the project, and through ALS Laboratories, has verified high-grade lithium surface samples at the project. Highlights of these surface grab samples processed by ALS Laboratories include: Sample# AMZ-8 of 780ppm Li, Sample# AMZ-26 of 910ppm Li, and Sample# AMZ-28 of 710ppm Li. The Company has pulled additional surface grab samples from the project and analysed them with a Handheld Laser Induced Breakdown Spectroscopy (“HH LIBS”). Highlights of the HH LIBS include: 1,218 ppm Li, 778 ppm Li, 724 ppm Li, and 707 ppm Li.
Based on the results of its surface sampling campaign at the project, the Company has outlined a USD200,000 Reverse Circulation Drill Program to follow-up on the high-grade areas of the project.
The project includes green energy infrastructure of hydro power lines, direct road access, and a nearby town with a readily available work force.
Later-stage comparable claystone lithium projects include Cypress Development’s Clayton Valley project; American Lithium’s TLC project; Spearmint Resources’ McGee project; Noram Lithium’s Zeus project, and Iconic Minerals’ Bonnie Claire project. All of the aforementioned companies are later-stage mining companies, with a NI 43-101 resource definition. Rover’s Nevada Lithium project is greenfields in nature, with no drilling to date.
Summary of First Year Commitments Under the LOI The Company’s earn-in to a 100% ownership of the claystone lithium project calls for USD200,000 in exploration expenditures within 24 months of the signing of a definitive agreement.
Technical information has been approved by David White, P.Geo., QP for the purposes of NI 43-101. ALS Laboratories is ISO/IEC 17025:2017 and ISO 9001:2015 certified.
An updating release will be provided once the Company executes a definitive option agreement.
Tobin Gold Project The Company has made the decision to drop its acquisition plans for the Tobin Gold Project, NV, USA in light of the annual advance royalty holding costs of the Tobin project, and also as a result of today’s news with regards to the acquisition of a new Nevada Lithium project.
Judson Culter, CEO at Rover Metals, states, “The Biden Administration’s Bill for Inflation Reduction and Energy puts milestones in place for critical minerals like Lithium to be effective January 1, 2023. Rover’s management looked all over the U.S. and Canada and ultimately decided on Nevada as the best jurisdiction to advance a lithium project. Yes, the project is greenfields in nature, however, Rover’s management team has a proven track record in deploying millions of dollars in exploration capital into mineral resource projects. We see tremendous near-term growth at this project.
Our corporate website will be updated in the coming days to reflect the Lithium asset addition.”
About Rover Metals Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing both: (1) critical minerals projects; as well as (2) precious metals projects. The Company is exclusive to the mining jurisdictions of Canada and the U.S. Five of the Company’s existing mineral resource development projects are located near to the city of Yellowknife, 60th parallel, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
Vancouver, British Columbia–(Newsfile Corp. – September 20, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce that the company has signed a Definitive Agreement dated September 19, 2022, with Snowline Gold (“Snowline”) (CSE: SGD) (OTCQB: SNWGF) with respect to the acquisition by Snowline of StrikePoint’s Yukon properties. The terms of the transaction set out in the Definitive Agreement include:
Snowline will make a cash payment to StrikePoint of $500,000;
Snowline will issue 500,000 shares to StrikePoint (valued at $1,375,000);
CEO and Director of StrikePoint, Shawn Khunkhun commented, “We have now positioned ourselves as shareholders in Snowline Gold, an exciting, Yukon-focused exploration company with a new discovery, while remaining focused on advancing our Golden Triangle properties.”
The properties being divested include: Golden/Nug/Oly, Can East, Horn, How, MacEast, Nordic, Otter, PPM, TET and Tintina. The projects are located mainly in the Mayo and Watson Lake Mining districts. The Golden Oly project an intrusive-related gold system, located approximately 75 kilometers south of Snowline Gold’s flagship Rogue.
StrikePoint is wrapping up its 2022 exploration programs at its two Golden Triangle properties: the Willoughby gold-silver property and the Porter silver property. To-date, 1,382 drill core samples and 203 surface samples have been shipped from drill and surface exploration programs on both properties with all assays pending.https://embed.fireplace.yahoo.com/embed?
About StrikePoint
StrikePoint Gold is an exploration company focused on discovering high-grade precious metals resources in Canada. The Company controls two advanced-stage exploration assets in BC’s Golden Triangle. The past-producing Porter silver project and the Willoughby gold project, located adjacent to Ascot Gold’s Red Mountain development project. The company also owns a portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
“Shawn Khunkhun”
Shawn Khunkhun Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
Neither the TSX Venture Exchange nor it’s 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.
For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.strikepointgold.com
Vancouver, British Columbia–(Newsfile Corp. – September 15, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the receipt of initial royalty production payments from its Balya North royalty property in western Turkey. EMX holds an uncapped 4% net smelter return (“NSR”) royalty on metals production from Balya North, a newly commissioned lead-zinc-silver mine operated by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”), a private Turkish company.
In the first half of 2022, Esan’s advancement of the Balya North asset consisted of mine development and opening of production headings and faces for exploitation in Q3 and Q4 of 2022 (see EMX News Release dated December 20, 2021). Production and processing of materials from Balya North in the first half of 2022 largely consisted of material stockpiled during the construction process. EMX has received payments from the processing of this material totaling US$98,787, inclusive of US$15,069 in Value Added Tax (“VAT”). These royalty payments are from 30,223 tonnes of processed material averaging 1.68% lead, 1.34% zinc, and 39.9 g/t silver.
The Balya North Mine is now operational. From current technical information provided by the operator, EMX anticipates that production will now ramp up to reach a projected production total of approximately 170,000 tonnes of material in 2022. Further, EMX anticipates production of approximately 450,000 tonnes of material from Balya North in 2023. It should be noted that the grades of material mined so far at Balya North are from materials removed during the construction and development process. Grades are expected to be significantly higher as commercial production progresses.
Balya North Lead-Zinc-Silver Deposit: The Balya North lead-zinc-silver deposit is situated in the historic Balya mining district of northwestern Turkey. Mining at Balya has taken place since antiquity, with several generations of historical operations. The Balya North property contains extensive zones of shear-zone hosted and carbonate replacement style (“CRD”) lead-zinc-silver mineralization in addition to skarn and more copper-rich styles of mineralization developed at depth.
Esan acquired the EMX royalty property at the end of 2019 (See EMX news release dated January 7, 2020) and is a private Turkish company that operates 40 mines and eight processing plants. Most importantly, Esan operates a lead-zinc mine and flotation mill on the property immediately adjacent to EMX’s Balya North royalty property. The mineralization at Balya North is effectively an extension of the mineralization currently being mined by Esan in the main Balya deposit.
Esan is also continuing extensive exploration programs at Balya North to expand the currently defined zones of mineralization and to find new bodies of mineralization on the EMX royalty property.
More information on the Balya royalty asset can be found at www.EMXroyalty.com.
Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@emxroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@emxroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “go forward” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2022 (the “MD&A”) and the most recently filed Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
North Vancouver, British Columbia–(Newsfile Corp. – September 15, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce the results from drillhole TUDDH-608 a direct follow-up to the TUG-141/TUDDH-601 high-grade zone discovery at its fully permitted Tuvatu Alkaline Gold Project in Fiji.
TUDDH-608 intersected:
19.60m at 21.16 g/t Au from 594.5-614.1m, which includes a zone of 16.20m at 25.28 g/t Au from 596.7-612.9m.
The dip of this hole at this depth was approximately 60° equating to a true horizontal width of 11.85m.
TUDDH-608 was drilled from surface at an azimuth of approximately N090°E, aimed at intersecting the TUG-141/TUDDH-601 high-grade zone at a high angle to determine the true width of the high-grade zone at this location.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522wiki_topics%2522%253A%2522Lion%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%25229b04419e-750c-3224-9125-6febee8bd22b%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Figure 1 show the trace of TUDDH-608 and its location relative to the current interpretation of the TUG-141/TUDDH-601 high-grade dilation zone, and indicates that TUDDH-608 intersected high-grade Au mineralization approximately 20m north of subvertical hole TUDDH-601, and 15m below the discovery hole TUG-141. The trace of the currently drilling TUG-147 drillhole, designed to intersect the high-grade mineralized zone an additional 90 to the north of TUDDH-608 is also shown on Figure 1. TUG-147 is expected to cross the target rocks in the next 7-10 days.
Figure 2 includes some photos of the mineralization intersected by hole TUDDH-608. All results >0.5 g/t Au are summarized below in Table 1.
Lion One Sr. Vice-President of Exploration Sergio Cattalani, stated “This is yet another exceptional set of results from the ongoing drilling of the high-grade zone defined by the previous drill holes TUG-141 and TUDDH-601. Our current interpretation of this portion of the 500 Zone feeder is that of a wide zone of dilation associated with the interplay of major structural corridors (UR1 and UR4) and the main lithological contact between monzonite and andesite that has the potential to extend for tens to hundreds of meters both vertically and along the NS direction. True widths exceeding 10m at the narrower apex of this dilational zone suggest a significant increase in gold ounces once this zone has been adequately drilled off, and this, independent of the rest of the extensive vertical 500 zone feeder that is known to exceed 1100m in vertical extent. We will continue to expand this critical zone of high-grade mineralization with ongoing drilling both from surface as well as from the underground decline.”
Figure 1: Oblique views looking N320° and down 45° (A) and looking N060° and down 20° (B) of a 100m thick horizontal slice of the UR1-UR4 high-grade mineralized zone. Yellow trace is the projected trace of TUG-147 (in progress).
Figures 2: Photos from TUDDH-608 drill core, as follows: A) 571.5m, 17.03 g/t Au; B) 601.9m, 23.21 g/t Au; C) 599.5m, 108.31 g/t Au; D) 606.5m, 54.54 g/t Au; E) 611.8m, 45.02 g/t Au; F) close-up of cut core from photo E showing VG.
Table 1: Drilling intervals for diamond drill hole TUDDH-608 returning >0.5 g/t Au (intervals > 3.0 g/t Au cutoff are shown in red, and intervals >9.0 g/t Au or longer than 1.2m are bolded).
Hole ID
From (m)
To (m)
Interval (m)
Grade (g/t Au)
TUDDH-608
38.0
38.6
0.6
1.03
263.8
264.4
0.6
0.71
285.1
285.7
0.6
0.69
493.6
493.9
0.3
3.07
503.2
510.0
6.8
2.45
Incl.
506.7
507.3
0.6
10.49
511.2
515.7
4.5
1.45
517.8
518.1
0.3
1.08
519.3
523.2
3.9
1.49
557.1
557.7
0.6
9.08
Incl.
557.1
557.4
0.3
11.64
Incl.
557.4
557.7
0.3
6.51
559.2
559.8
0.6
3.02
571.4
572.6
1.2
9.41
Incl.
571.4
572.6
0.6
17.02
576.5
577.4
0.9
0.51
594.5
618.2
19.6
21.16
Incl.
596.7
597.9
1.2
85.09
Incl.
597.9
598.6
0.7
9.42
Incl.
598.6
598.9
0.3
8.38
Incl.
598.9
599.2
0.3
11.44
Incl.
599.2
599.5
0.3
6.98
Incl.
599.5
599.8
0.3
36.39
Incl.
599.8
600.4
0.6
108.31
Incl.
600.4
600.7
0.3
21.69
Incl.
600.7
601.7
1.0
13.54
Incl.
601.7
602.2
0.5
23.39
Incl.
602.2
602.5
0.3
0.72
Incl.
602.5
603.1
0.6
80.01
Incl.
603.1
603.7
0.6
7.05
Incl.
603.7
604.0
0.3
11.97
Incl.
604.0
604.6
0.6
3.09
Incl.
604.6
605.2
0.6
2.93
Incl.
605.2
606.0
0.8
1.41
Incl.
606.0
606.6
0.6
54.53
Incl.
606.6
607.2
0.6
11.99
Incl.
607.2
607.8
0.6
8.30
Incl.
607.8
608.4
0.6
29.56
Incl.
608.4
609.3
0.9
1.34
Incl.
609.3
609.6
0.3
24.31
609.6
610.2
0.6
2.61
Incl.
610.2
610.8
0.6
10.85
Incl.
610.8
611.1
0.3
7.54
611.1
611.4
0.3
2.90
Incl.
611.4
612.1
0.7
45.02
Incl.
612.1
612.9
0.8
13.31
612.9
613.8
0.9
0.54
613.8
614.1
0.3
1.87
616.1
618.2
2.1
4.25
Incl.
616.1
616.7
0.6
11.72
670.2
670.5
0.3
0.97
Table 2: Survey details of diamond drill holes referenced in this release. Previously released drill holes are not included here.
Hole No
Coordinates (Fiji map grid)
RL
final depth
dip
azimuth
N
E
m
(TN)
TUDDH-608
1876280
3920472
286.51
678.1
-64
089
TUG-147
1876435
3920584
116
in progress
-75
099
Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).
About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff“ Chairman and CEO
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
VANCOUVER, British Columbia, Sept. 14, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that further to its release of August 16, 2022, the Company has signed a definitive option agreement (the “Option Agreement”) with Panarc Resources Ltd. (“Panarc”) for the staged acquisition of up to a 90% ownership interest in the Indian Mountain Lake VMS project, NT, Canada (the “Project”).
Indian Mountain Lake VMS Project The Indian Mountain Lake VMS Project has had exploration dating back to the 1940s and has a historical resource spread across four zones on the project. The BB Zone and Kennedy Lake Zone have a combined historic resource of 1,400,000 tons grading 10% combined zinc and lead with 3.5 OPT (ounces per ton) of silver*. Approximately 900 metres west of the BB Zone, the Kennedy Lake West Zone has a historic resource of 610,000 tons grading 1.15% copper*. About 8 km southeast of the BB Zone, the Susu Lake Zone, has a historical resource consisting of 142,500 tons grading 0.95% copper*.
The property is located approximately 195 km east-northeast of Yellowknife, NT, off the eastern arm of Great Slave Lake. Seasonal access relies upon fixed or rotor wing support. A right of way was cleared to the Project from Thompson Landing in the 1970s. If this right of way were to be brushed out, it would provide barge access at Thompson Landing, from Yellowknife, with ground transportation, considerably lowering any logistical costs. Future Government of Canada federally funded hydro-energy infrastructure could come close to the Project if the Taltson Hydro Dam expansion proceeds through the eastern arm of Great Slave Lake into Yellowknife. At the southwest-end of Great Slave Lake, Osisko Metals is gearing up to reopen the Pine Point Zinc-Lead Mine. At nearby Hay River, NT, there is a rail line to the Teck Resources Zinc Refinery in Trail, BC.
*These resources are historic in nature. Further drilling is needed to bring them up to CIM Definition Standards. The historic data has not been verified by Rover. The historic information is provided in the 2103 Assessment Report for Indian Mountain Lake which is in public record with the Government of the Northwest Territories.
Technical information has been approved by Gary Vivian, M.Sc., P.Geo., QP for the purposes of NI 43-101.
Summary of the First Year Terms of the Indian Mountain Lake Definitive Option Agreement In accordance with the terms of the Option Agreement, during the first year following the date of the Option Agreement, the Company has committed to incurring $200,000 in exploration expenditures on the Project and making a cash payment of $20,000 to Panarc. In addition, and subject to the approval by the TSX Venture Exchange, Rover will issue Panarc an aggregate of 3,500,000 common shares in the capital of the Company (the “Common Shares”) within six months of the signing of the Option Agreement. The Common Shares, if authorized for issuance, will be subject to the standard four-month regulatory hold period.
Upcoming Conference Rover Metals will be presenting at the Redefining Electric Metals Conference in Calgary, AB, on September 19th and 20th. Registration is at www.redefiningelectricalmetals.com
Judson Culter, CEO at Rover Metals, states “We see tremendous growth coming for critical minerals fueled by domestic EV demand in the U.S. and Canada. 97% of the Indian Mountain Lake greenstone belt, or approximately 30,000 acres, remains largely unexplored with the drill bit, so we are very excited about this project’s future.”
Corporate Update A Q&A interview with Rover’s CEO, Judson Culter, is now also available for viewing here.
About Rover Metals Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing both: (1) critical minerals projects; as well as (2) precious metals projects. The Company is exclusive to the mining jurisdictions of Canada and the U.S. Five of the Company’s mineral resource development projects are located near to the city of Yellowknife, 60th parallel, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, BRITISH COLUMBIA, September 14, 2022 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to provide an update on gold projects in Alaska.
Fairbanks District – Treasure Creek Gold Project Felix Gold (ASX: FXG, “Felix Gold” or “Felix”) has recently reported that it has completed the planned exploration program at the Treasure Creek gold project in the Fairbanks Mining District. The company has completed 12,424 meters of reverse circulation drilling in 131 holes to test the NW Array and Eastgate prospect areas. Reconnaissance lines were also drilled to test geophysical and geochemical targets in other areas of the property. An initial highlight result of 89.0 meters grading 1.2 grams per tonne gold was previously reported at the Northwest Array prospect and a diamond core rig is now being used to do further testing. Assay results for only nine of the 131 holes have been reported. Thousands of assay results are to follow throughout the fall of 2022. Felix Gold has also completed a VTEM airborne geophysical survey at Treasure Creek to complement a previously flow magnetic survey. Further details can be found in Felix Gold’s September 13, 2022 press release.
By virtue of its sale of Fairbanks District claims and a strategic alliance with Felix Gold, Millrock owns 9,957,157 shares of Felix Gold and holds royalties ranging from 1.0% to 2.0% NSR on all claims currently held by Felix Gold in the Fairbanks District.
Millrock President & CEO Gregory Beischer commented: “Felix Gold executed an excellent drilling program this year and we look forward to seeing the results. We think the potential of the Fairbanks District has not been fully recognized, but that it soon will be.”
Goodpaster District, 64North Gold Project Resolution Minerals Limited (ASX: RML) (“Resolution”) has recently reported that it has completed a diamond drilling program to test the Tourmaline Ridge prospect, located to the immediate west of the Pogo Mine, where owner Northern Star Resources Ltd. operates a successful gold mining operation southeast of the City of Fairbanks.
Tourmaline Ridge was identified as a priority target for drilling in 2022. Gold and pathfinder elements were detected in soil samples over a 1,850 by 750-meter area. Resolution executed an efficient drill test. Five diamond core holes totaling 2,324 meters were drilled to intersect shallow northwest dipping structures interpreted from geophysics as possible extensions of the Pogo Mine structures. Hole 22TR001 intersected altered rocks with indications of multiple hydrothermal fluid flow events. Mineralization included veinlets of quartz with arsenopyrite, pyrite, and pyrrhotite. Hole 22TR003 intersected quartz veins containing bismuthinite and pyrite. Resolution reported the first batch of assay results from select zones in holes 22TR001 and 22TR003 with low-level, elevated gold values commonly in the 0.04 to 0.2 grams per tonne gold range. Resolution anticipates receipt of the remaining assay results (86% of the total samples submitted) in November 2022. Further details can be gleaned from Resolution’s September 5, 2022 press release.
Resolution is currently sole funding exploration to earn up to an 80% interest in a portion of the 64North project. By virtue of the earn-in agreement, Millrock owns 23,100,000 shares of Resolution. To date, Resolution has earned a 42% interest in the project.
Qualified Person The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations Toll-Free: 877-217-8978 | Local: 604-638-3164 Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation receipt of further drill results and earning of greater ownership in 64North. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Sign up to Stay Up to Date on News and Progress from Page
