What will the stock market look like in 2025, a year that has started grimly with catastrophic fires burning in California and dangerous snow and ice blanketing the east even before the presidential inauguration?
While interviewing 321gold’s Bob Moriarty this week on CEO & Market Expert Interviews on YouTube, Lucijan Valkovic said his own unofficial private polling found that 95% of people he asked said the market is heavily overvalued and is “about to crash or correct big.”
Moriarty said that while he was a “contrarian,” and it scares him “when 95% of people agree on anything,” the market is “clearly in a bubble.”
“The stock market is a giant bubble in search of a pin,” said Moriarty.
“There are some immense forces in play (and) no one can really predict what’s going to happen,” he said. “However, it’s very easy to predict whatever happens is going to be bad. So, my belief is the stock market’s an accident waiting to happen. And it’s like Bitcoin, you’ve got a lot of people playing musical chairs. And everybody thinks when the music stops, they’re going to be able to reach a chair. And there’s one slight problem with that theory, . . . and that is, what if there’s no chairs?”
Moriarty predicted the fall would be worse than 1929, “much worse.”
“We are going to go through pain, and it’s going to be extreme pain because this economy is so far out of whack,” he said.
Precious Metals as Insurance Policies
How to protect yourself? “You should put your money in something that is not part of the bubble,” Moriarty said.
“I happen to believe the highest value of precious metals is not their investment potential; it’s their potential as an insurance policy against chaos,” he said. “But the cheapest thing in the world right now is resource stocks. They’re literally being given away.”
The world’s central banks have “added significant amounts of gold to their reserves in recent years — and their buying continues even as gold’s price reaches new highs,” Sharon Wu reported for CBS News in December.
“While the precious metal offers unique protections during economic uncertainty, it also comes with challenges,” she wrote. “Storage costs and lack of income generation, for example, make it a complex investment choice.”
However, Valkovic noted that central bank gold purchases are expected to continue this year.
Gold and silver are insurance policies “against financial chaos,” Moriarty told him. “We all need reserves. You need it as an individual. You need it as a family. You need it as a town or city. You need it as a country. And you certainly need it as a bank.”
Moriarty said the banks are looking at the world and the state of the economy and deciding they need extra protection from negative events.
“There are some very dangerous black swans flying, and we need to protect ourselves,” he said. ” And that’s exactly the reason that individuals should be doing the same thing.”
Could Silver Outperform Gold?
Both gold and silver recently hit four-week highs, and gold is expected to have another solid year, but investors should brace for some volatility and temper their upside expectations, Kirill Kirilenko, Senior Analyst at CRU, told Kitco News’ Neils Christensen.
But he predicted gold prices would average around US$2,580 per ounce in 2025 as markets react to Trump’s proposed economic policies. The analyst had more optimism for silver, forecasting an average price of US$31.35 per ounce for the year.
“Silver could slightly outperform gold this year, driven by an increasingly tight fundamental outlook,” he said.
The British research firm expects silver, which as nature’s most conductive metal remains integral to the green energy transition, to remain well-supported.
Moriarty gave another reason for looking at the white metal. “Silver is absurdly cheap,” he said. “My belief is if you’re faced with three or four different alternatives for investing, you should buy what’s cheap, and you should save.”
“Silver has got a long way to run,” Moriarty said. “My opinion is silver will always be the most attractive investment in the resource sector.”
Nuclear: Very Cheap, Very Safe
Moriarty also said he saw uranium stocks performing well as artificial intelligence (AI) and a surging number of data centers recently helped push the price for element, the main fuel for nuclear reactors, to a record high, according to a Yolowire release posted on Barchart.
Prices for enriched uranium rose to US$190 per separative work unit, the commodity’s standard measure, which is up 239% from US$56 three years ago,” according to the report.
“A resurgence of interest in nuclear power has come as governments and companies source carbon-free power to service major industrial facilities and communities,” the release said.
“Nuclear power is a very cheap, very safe form of energy,” Moriarty said. “And we need more of it. … Green energy has been oversold. It is not a solution. It is a very expensive problem.”
But which uranium stocks to invest in? “I think you could walk into a dark room, and you could put the names of the stocks up on a wall. You could shut the light off and throw a dart, and hit something. Uranium is very cheap.”
Moriarty said he doesn’t know which bubble will burst first. But “we’ve got a lot of bubbles, and it is a time for safety, and in a time for safety, you go for what is the least bubbly,” he said.
“The least bubbly, I like that,” agreed Valkovic.
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Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
North Vancouver, British Columbia–(Newsfile Corp. – January 23, 2025) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company“) is pleased to report significant new high-grade gold results from 3,866.8 metres of infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The drilling is focused on Zone 5 and includes the Zone’s best assay result to-date of 2,749.86 g/t of gold over 0.3 metres (88.42 oz/t of gold over 1.0 feet).
All drilling was completed from existing near surface underground workings. The Company intersected high-grade mineralized structures in 24 holes drilled up-dip, down-dip, and south along strike of the UR2 and URW3 lodes where current mining activities are in progress. 17 holes intersected multiple high-grade mineralized structures, all of which are near existing underground workings. Most of the drill holes did not exceed 130 metres in length from underground drill stations. Drill results include multiple bonanza grade assays such as 2,749.86 g/t, 269.5 g/t and 235.2 g/t over narrow widths of 0.3 metres. Due to proximity of drill results to existing workings there is a strong probability that some of these structures can be incorporated into the mine plan in the next six to twelve months.
Bonanza grades in Zone 5 at the Tuvatu Alkaline Gold Project are not unexpected. Previously the Company announced high-grade drill results from Zone 5 including 1,986.23 g/t gold over 0.6 metres (see press release dated December 13, 2023), 1,568.55 g/t over 0.3 metres (see press release dated June 5, 2024), and 1,517.79 g/t over 0.3 m (see press release dated December 17, 2024).
Lion One Chairman and CEO Walter Berukoff commented: “We’re extremely pleased with the new results from our Zone 5 infill and grade control drill program. These significant underground drill results continue to confirm the high-grade nature of the Tuvatu Alkaline gold system and provide strong support for our ongoing mining efforts in Zone 5. We’re excited to expand our near-term mine plan in Zone 5 and look forward to mining these areas in 2025. I was particularly interested to see that three of the highest-grade intersections were all identified in hole TGC-265 as separate and distinct structures.”
Highlights of New Drill Results:
2,749.86 g/t Au over 0.3 metres (TGC 265, from 96.2 m depth) Best assay to-date in Zone 5
162.97 g/t Au over 0.6 m (including 269.5 g/t Au over 0.3 m) (TGC-281, from 75.89 m depth)
53.11 g/t Au over 1.5 m (including 235.2 g/t over 0.3 m) (TGC-282, from 92.6 m depth)
96.5 g/t Au over 0.6 m (TGC-288, from 28.8 m depth)
46.94 g/t Au over 1.2 m (including 86.44 g/t Au over 0.3 m) (TGC-265, from 45.7 m depth)
47.22 g/t Au over 0.9 m (including 62.25 g/t over 0.3 m (TGC-265, from 81.1 m depth)
69.38 g/t Au over 0.6 m (including 126.5 g/t over 0.3 m (TGC-267, from 125 m depth)
*Drill intersects are downhole lengths, 3.0 g/t cutoff. See Table 1 in Appendix for additional data.
Figure 1. Location of the Zone 5 drilling reported in this news release. Left image: Plan view of Tuvatu showing Zone 5 drillholes in relation to the mineralized lodes at Tuvatu, shown in grey. Yellow dashed square represents the area shown in the right image. Right image: Oblique view of Zone 5 drilling looking approximately east-northeast. Zone 5 drilling is targeting the up-dip and down-dip extensions of the mineralized lodes above and below current underground developments, shown in red.
The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes (UR1 to UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several of the western lodes (URW2, URW2A, URW3). These lodes are steeply dipping structures that converge at approximately 500 m depth to form Zone 500, which is the highest-grade part of the deposit and is interpreted to be a major feeder zone at Tuvatu. The system remains open at depth with the deepest high-grade intersections occurring below 1000 m depth.
The drilling reported in this news release targeted the near-surface portions of the UR2 and URW3 lodes. Drilling was focused on the up-dip and down-dip areas of the UR2 and URW3 lodes, directly above and below current underground developments. The drilling targeted a 200 m strike length of the UR2 and URW3 lodes. The current total strike length of the UR2 lode is approximately 620 m, while that of the URW3 lode is approximately 330 m. Both lodes remain open along strike and at depth.
The Zone 5 grade control drilling reported in this release was conducted from two underground locations: the 1135 drill station and the 1090 drill station. These drillholes are designed to intersect the mineralized lodes in a perpendicular to sub-perpendicular orientation such that the mineralized intervals approximate the true width of the lodes. Grade control drilling is being conducted on a 10 m grid to provide a detailed understanding of the geometry and mineralization of the Zone 5 lodes. The purpose of the current Zone 5 grade control drill program is to enhance the mine model and inform stope design in advance of mining in the target areas. The majority of the high-grade intervals reported in this release are located within 30 m of underground developments and are anticipated to be included in the mine plan in 2025. Highlights of the Zone 5 drilling reported here are shown in Figure 2.
Figure 2. Zone 5 infill and grade control drilling with high-grade intersects highlighted, 3.0 g/t gold cutoff. Plan view looking down with north to the left. The primary areas targeted by the Zone 5 drilling are the up-dip and down-dip areas of the UR2 and URW3 lodes above and below current underground developments. These areas are scheduled for near-term mining. Drill holes are oriented perpendicular to sub-perpendicular to the mineralized lodes.
The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Melvyn Levrel, who is the company’s Senior Geologist. Mr Levrel is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”). Mr Levrel consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
Lion One Laboratories / QAQC
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its drilling, sampling, testing, and analyses. The Company operates its own geochemical assay laboratory and its own fleet of diamond drill rigs using PQ, HQ and NQ sized drill rods.
Diamond drill core samples are logged by Lion One personnel on site. Exploration diamond drill core is split by Lion One personnel on site, with half core samples sent for analysis and the other half core remaining on site. Grade control diamond drill core is whole core assayed. Core samples are delivered to the Lion One Laboratory for preparation and analysis. All samples are pulverized at the Lion One lab to 85% passing through 75 microns and gold analysis is carried out using fire assay with an AA finish. Samples that return grades greater than 10.00 g/t Au are re-analyzed by gravimetric method, which is considered more accurate for very high-grade samples.
Duplicates of 5% of samples with grades above 0.5 g/t Au are delivered to ALS Global Laboratories in Australia for check assay determinations using the same methods (Au-AA26 and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61). The Lion One lab can test a range of up to 71 elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 26 important pathfinder elements with an aqua regia digest and ICP-OES finish.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or 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 labor 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.
Appendix 1: Full Drill Results and Collar Information
Table 1. Collar coordinates for drillholes reported in this release. Coordinates are in Fiji map grid.
Hole ID
Easting
Northing
Elevation
Azimuth
Dip
Depth
TGC-0265
1876384
3920429
94
87.7
-11.1
116.0
TGC-0267
1876380
3920530
129
109.8
-10.5
131.0
TGC-0268
1876384
3920429
94
96.1
-14.0
10.7
TGC-0269
1876384
3920429
94
96.3
-10.3
110.2
TGC-0271
1876381
3920530
130
114.8
10.5
136.6
TGC-0273
1876384
3920429
94
103.2
-10.9
91.8
TGC-0275
1876384
3920428
94
111.2
-9.9
85.8
TGC-0277
1876384
3920428
94
119.3
-10.5
85.7
TGC-0278
1876381
3920530
131
116.9
20.3
135.0
TGC-0279
1876385
3920425
96
140.4
11.7
90.6
TGC-0281
1876384
3920425
96
154.2
11.6
102.5
TGC-0282
1876381
3920530
131
113.2
14.8
139.2
TGC-0284
1876381
3920530
131
108.5
19.8
135.7
TGC-0286
1876383
3920424
96
165.4
12.4
111.5
TGC-0287
1876381
3920532
131
88.2
14.4
118.0
TGC-0288
1876381
3920531
131
96.7
14.1
115.1
TGC-0289
1876383
3920424
96
175.0
10.5
126.3
TGC-0291
1876381
3920532
131
87.4
20.0
120.7
TGC-0292
1876382
3920425
94
174.2
-10.4
13.7
TGC-0294
1876382
3920425
94
174.8
-12.5
127.7
TGC-0295
1876381
3920531
131
95.2
23.0
180.7
TGC-0296
1876382
3920426
94
175.2
-24.6
152.1
TGC-0297
1876381
3920530
131
102.0
23.1
120.0
TGC-0299
1876382
3920426
94
174.8
-35.5
200.7
TGC-0300
1876381
3920530
130
104.1
13.5
122.1
TGC-0301
1876381
3920531
130
96.2
13.3
121.4
TGC-0302
1876383
3920425
94
160.5
-10.5
112.8
TGC-0303
1876380
3920530
129
120.6
-20.6
160.0
TGC-0304
1876383
3920426
94
155.6
-31.4
122.6
TGC-0306
1876380
3920529
129
126.1
-19.6
160.1
TGC-0307
1876383
3920426
93
154.5
-44.9
154.1
TGC-0309
1876384
3920427
93
130.5
-45.1
140.6
TGC-0310
1876380
3920532
128
78.4
-48.0
15.8
Table 2. Composite intervals from drillholes reported in this news release (composite grade >3.0 g/t Au, with <1 m internal dilution at <3.0 g/t Au).
Vancouver, British Columbia–(Newsfile Corp. – January 23, 2025) – West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (“West Point Gold” or the “Company”) is pleased to announce additional drill results from its recently completed 1,264m (8 hole) diamond drill campaign focused on the Tyro Main Zone, at its Gold Chain Project in Arizona.
Highlights:
Hole GC24-34 intersected 42.80m of 2.50 g/t Au, including 11.70m of 5.94 g/t Au, returning mineralization from surface. Hole GC24-34 is located approximately 700 metres northeast along the Tyro Main Zone structure from GC23-28 (link).
Hole GC24-32 intersected a hanging wall zone of mineralization for 6.94m of 4.3 g/t Au including 1.44m of 15.24 g/t Au from 16.31m.
Hole GC24-32 intersected a footwall wall zone of 16.08m of 1.35 g/t Au from 49.07m. Infill sampling of approximately 24 metres is underway.
The Company believes that these results are consistent with previous estimates of size potential at the Tyro Main Zone.
Infill sampling on holes GC24-30, GC24-31, and GC24-32 have the potential to increase the width of the Tyro Main zone.
The Company is preparing for the next phase of drilling at Tyro, expected to start in February 2025.
“We are excited by the material increase in grade and width at the north end of the Tyro Main Zone as evidenced by hole GC24-34 and plan to place additional focus on this area during the upcoming drill program,” stated CEO, Quentin Mai. “As the correlation of mineralization between hanging wall and footwall improves, we anticipate the additional samples sent to the lab around the hanging wall could expand the mineralized zone.”
Figure 1: Preliminary Tyro Main Zone Long Section showing results from 2024 DDH program along with RC drilling, trenches and 200 Level Sampling
The Q4 2024 drill program totaled 1,264m (8 holes), and was designed to improve West Point Gold’s understanding of the Tyro Main Zone, in particular the structural model and controls of the mineralization. Based on these assay results from all the holes there are three key findings.
First, as evidenced in the assay results, the zone appears to have a potentially broader mineralized structures in the hanging wall (east side) of the Tyro Main Zone. As a result, West Point Gold has conducted infill sampling for holes GC24-30 (28 metres), GC24-31 (23 metres), and GC24-32 (24 metres) where assays are pending.
Secondly, the Tyro Main Zone appears to have developed between two near parallel structures whose relative movement is responsible for the ground preparation for subsequent gold-bearing fluids. The footwall boundary appears to be a sharp contact that may control mineralization while the hanging wall remains partially defined.
Thirdly, the area south of the White Spar fault, appears to have a wider, lower grade cap starting from surface, as evidenced by holes GC23-25 (51.8m of 0.28 g/t Au), GC23-26 (32.0m at 0.54 g/t Au) and the upper portion of holes GC24-29 and GC24-35. Surface exposures at the projected intersection of the Main Tyro trend and the White Spar fault zone (see Figure 2) reveal an array of vein orientations that the Company continues to evaluate. The high grades encountered in hole GC23-28 (9.1m at 51.1 g/t Au) were not duplicated in hole GC24-29 suggesting a northeast orientation (Main Tyro Trend) or structures in this area maybe more discontinuous than previously thought. The Company has started both a fluid inclusion study of the Tyro vein system and a hyperspectral study of the core from the most recent program to better understand this area.
The Company continues to believe that these results are consistent with the previously announced exploration target, of 15.6 to 31.2 Mt at 1.5 to 2.5 g/t Au* and conform with the existing geologic model based upon drilling, trenching and geologic mapping conducted over the vein system.
*The potential quantity and grades are conceptual in nature. There has been insufficient exploration drilling to define a mineral resource, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
Hole GC24-32
Hole GC24-32 was drilled near the top of Tyro Hill (Figure 2) and beneath Trench 6 (16.7m of 2.01 g/t Au) where surface mine workings do not extend to this section. As observed in surface exposures, the hole traversed a broad zone of sub-parallel, banded chalcedony-adularia veins and hydrothermal breccia. Two internal intervals were not sampled during the initial logging and have now been sampled (Figure 3).
Hole GC24-33 was designed to test the Tyro Main Zone between Trenches T6 and T9 (Figures 1 and 2) where about 150 metres of the vein system yielded only anomalous gold values associated with local silicification and quartz veinlets that coincide with a pronounced bend in the Tyro Main Zone (Figure 2). The core has been scanned in the hyperspectral survey and results are pending.
Hole GC24-34
This hole was drilled between holes GC21-14 (35.3m at 1.26 g/t Au) and GC21-15 (21.3m at 2.0 g/t Au) and was intended to pass beneath small, historical mine workings. A broad zone of quartz-adularia veins and stockwork were encountered from the surface to 42.8 m and contained 2.50 g/t Au. Within that interval, a zone of low recovery occurred at 26.8 to 34.75m including a void that likely reflects a mined-out portion of the vein. Strong veining was identified on both sides of the suspected underground mine working. The extent of this working is not known but drilling in 2021 did not intersect mine workings (Figure 1).
These holes were drilled to test the intersection of the Main Tyro and White Spar structures where mapping, trenching and drilling reveal a broad zone of quartz veining, silicification and hydrothermal breccia. All holes encountered broad intervals of quartz veining and local hydrothermal breccia veins but only local areas of gold enrichment, i.e. hole GC24-29 (7.46m @ 0.98 g/t Au) and GC24-35 (13.7m @ 1.58 g/t Au). The lower interval (13.70m at 1.58 g/t Au) on hole GC24-35 is approximately 135 metres below surface, representing the deepest gold intercept on the property to date. Both holes GC24-35 and GC24-36 are currently being analyzed in the recently completed hyperspectral survey to address gold-related alteration and consider the results of the fluid inclusion studies to better define the boiling zone in the gold system.
Figure 5: Looking North at the Historical Tyro Open-Pit
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for overseeing all phases of the drilling program including logging, core cutting, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, over limit samples were determined by fire assay and gravimetric finish. Silver plus 15 other elements were determined by Aqua Regia ICP-AES (IM-2A16), over limit samples were determined by fire assay and gravimetric finish. Both certified standards and blanks were inserted on site along with duplicates, standards and blanks inserted by American Assay. Standard sample chain of custody procedures were employed during drilling and sampling campaigns until delivery to the analytical facility.
About West Point Gold Corp.
West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.
For further information regarding this press release, please contact:
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business, including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. West Point Gold does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
In 2024, Americans faced several financial challenges that impacted their ability to save and manage their finances effectively. Inflation remained a top concern, leading to increases in the cost of essentials such as housing, groceries, and utilities, and straining household budgets.
Credit card debt also reached record highs. Rising interest rates on credit cards and loans made it harder for consumers to pay down their balances. Additionally, many households depleted the excess savings they accumulated during the pandemic, leaving them with less of a financial cushion.
With all of this in mind, Yahoo Finance partnered with Marist Poll to survey more than 3,000 banked adults in the U.S. (those with at least one checking or savings account) to shed light on the financial struggles and concerns facing households. Here’s what Americans say have been their biggest barriers to saving and how they feel about their finances heading into 2025. (See our full methodology here.)
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Key findings
Only 22% of respondents report being very or completely satisfied with their savings, while 35% are very or completely dissatisfied. Forty percent of women are very or completely dissatisfied with their savings, compared to 28% of men.
Nearly half (48%) of respondents saved less in 2024 compared to the previous year, with only 21% saving more.
Nearly half (47%) of respondents cite the cost of living as their biggest obstacle to saving.
One-third (33%) of respondents couldn’t cover bills for even one month if they lost their income.
44% of respondents believe they will save more in 2025, with optimism highest among Gen Z (63%) and millennials (53%).
60% of respondents say they are more optimistic about their finances for the coming year with Donald Trump as president. This optimism crosses generational lines, with Gen Z (70%) as the most optimistic.
The Yahoo Finance/Marist Poll 2025 national survey on the state of savings
We set out to learn more about how higher costs and competing financial obligations have impacted Americans’ savings. Here’s what we found:
Two-thirds of respondents say the cost of living for the average family in their area is not affordable
In a post-COVID-19 world, the rising cost of living dominated financial news headlines. Many households felt the pinch as inflation reached a 40-year high of 9.1% in June 2022. Though the inflation rate has since tempered (the Consumer Price Index was up 2.7% year over year in November 2024), the sky-high costs of housing, groceries, and other essentials are here to stay for the foreseeable future.
Overall, our survey found that most respondents describe the cost of living in their area as “not very affordable” (45%), while another 22% say it’s not affordable at all.
On the other hand, Gen Z respondents were more likely to describe the cost of living as “very affordable” (9%) compared to other generations: millennials (8%), Gen X (3%), and baby boomers/silent/greatest generations (2%).
Only one-quarter of Americans say they live comfortably
Not only are survey respondents unhappy with the cost of living in their area, but most are struggling to pay for necessities while putting money away for the future.
Just over a quarter of survey respondents say they live comfortably. Older Americans (baby boomer/silent/greatest generations) were more likely to say they live comfortably (40%).
Meanwhile, 31% of respondents are able to meet their basic expenses with a little money left over for extras, while another 30% are just able to meet their basic expenses. And 12% say they don’t have enough money to cover their basic living expenses.
More women are dissatisfied with how much they’ve saved than men
Everyone’s savings goals are different, based on lifestyle, family size, debt obligations, and more. When it comes to whether Americans are satisfied with how much they’ve saved so far, the results are mixed.
Thirty-five percent of respondents in our survey are dissatisfied with the amount of money they’ve saved. Women (40%) are more likely than men (28%) to say that they are very or completely dissatisfied with their savings — perhaps not surprising given the financial challenges that many women face, including the gender pay gap and a higher burden of caregiving responsibilities.
About half of Americans say they saved less in 2024 compared to 2023
This past year proved to be a difficult one for Americans’ savings. Despite historically high deposit account interest rates, consumers were also faced with inflation, skyrocketing interest rates on debt, record-level education costs, and more.
Nearly half of respondents in our survey report they saved less money in 2024 compared to 2023; only 21% reported saving more money. Nearly a third of respondents said they saved about the same amount.
Overall, women were more likely to say they’ve saved less money in 2024 than they did in 2023 (53% versus 42% of men), especially millennial and Gen X women (57% and 59%, respectively).
Younger generations are more optimistic about their savings potential in the new year
With a new year — and a new administration — we sought to find out how Americans believe their savings habits will change in 2025.
It’s not all doom and gloom, especially for younger savers. Younger Americans are more likely to say they will save more: 63% of Gen Z and 53% of millennials versus 44% of Gen X and 25% of baby boomers/silent/greatest generations.
Most likely to save about the same amount in 2025 are those in the baby boomer/silent/greatest generations (44%). Women, however, are more likely than men to say they will save less this year (27% vs. 20%, respectively).
Cost of living has been the most significant barrier to saving
We wanted to learn more about the various challenges savers are facing that are preventing them from reaching their savings goals.
Nearly half of respondents (47%) pointed to cost of living as their biggest obstacle when it comes to saving money. Other common reasons included unexpected bills or expenses (11%), too many financial obligations (10%), and change of income or employment status (10%).
Older Americans were most likely to report they face no challenges to saving money (19%).
Gen Zers and millennials are most likely to ask family and friends for help in a financial emergency
In times of financial distress, there are several avenues you might take to cover your bills — some of which are better for your bottom line than others.
The largest percentage of respondents (26%) say that their solution would be to tap into their savings. Fifteen percent say they’d cut down on their spending, while 14% would pick up an extra job or more hours at work.
Another 10% of respondents say they would ask a family member or friend for help in a financial emergency, with Gen Zers and millennials the most likely to do so (15% for both).
Gen Xers and baby boomers/silent/greatest generations are more likely to put their expenses on a credit card (10%).
A third of households couldn’t cover one month’s worth of bills if they lost their job or source of income
Most experts recommend saving at least three to six months’ worth of expenses in an emergency fund. However, given the many barriers to saving that Americans face, not everyone is able to meet this guideline.
The average length of time respondents could cover their expenses using money that is readily available in their checking or savings account is seven months.
However, about 1 in 3 respondents say they would not be able to cover their bills and expenses for even one month. Gen Z (38%) and millennials (41%) are more likely than other generations to say they could not pay their bills for one month.
In contrast, Gen X and baby boomers/silent/greatest generations (19% for both) are more likely than younger generations to have enough savings to manage for one year or more.
60% of Americans are more optimistic about their finances in the coming year with Donald Trump as president
For better or worse, with a new administration often comes a new economic agenda. And most Americans are expecting positive changes.
A majority of respondents (60%) are more optimistic about their personal finances with Trump as the next president. This was the consensus across generations, with Gen Z being the most optimistic (70%). Baby boomers/silent/greatest generations were the most pessimistic (46%).
This survey of 3,131 adults was conducted Dec. 3 through Dec. 5, 2024, by the Marist Poll sponsored in partnership with Yahoo Finance. Adults 18 years of age and older residing in the United States were contacted through a multi-mode design: By phone using live interviewers, by text, or online. All potential respondents were screened for age.
Probability-based sampling frames include RDD landline plus listed landline, RDD cell phone sample plus cell phone sample based on billing address to account for inward and outward mobility within a state. These samples were provided by Dynata and used to administer the surveys collected via phone and text to web. A sampling frame based on aggregated non-probability online research panels was randomly selected from Cint’s digital insights platform to administer the surveys collected via web.
Survey questions were available in English or Spanish. All samples were selected to ensure that each region was represented in proportion to its adult population. The samples were then combined and balanced to reflect the 2022 American Community Survey five-year estimates for age, gender, income, race, and region.
Results for all adults (n=3,131) are statistically significant within ±2.1 percentage points. Results for banked households (n=2,828) are statistically significant within ±2.2 percentage points. The design effect for this survey is 1.4 which has been incorporated in the calculation of all reported margins of error. The partisan breakdown for this survey among registered voters is 38% Democrat, 36% Republican, and 25% Independent.
We’re diving into the latest developments on the acquisition of the Motherlode Crown Grants—a significant addition to the Greenwood Precious Metals and Battery Metals Project in British Columbia. 🏔️
With historical production of copper, gold, and silver, coupled with promising exploration results, Grizzly Discoveries is well-positioned to play a critical role in meeting the demand for precious and battery metals. 🚀
📹 Watch the video to uncover: ✅ Key highlights of the Motherlode Crown Grants ✅ Exploration updates and high-grade sample results ✅ The strategic potential of this acquisition
💡 Don’t miss this chance to learn about the growth of Canadian resource exploration and its role in powering the future of clean energy!
Vancouver, British Columbia–(Newsfile Corp. – January 17, 2025) – Riverside Resources Inc.(TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to present its 2025 outlook while highlighting key milestones accomplished during 2024. With a 100% owned portfolio of high-potential exploration projects, a robust financial position, and well-established strategic partnerships, Riverside remains focused on delivering value through a disciplined and exploration-driven approach. The Company is committed to advancing its assets, fostering new opportunities, and positioning itself for sustained growth and success in the evolving resource sector.
The Company is in a strong cash position, with over C$4 million in cash reserves, no outstanding debt, and a tightly managed share structure with fewer than 75 million shares outstanding and no warrants. This robust financial foundation provides Riverside with the flexibility to advance its exploration initiatives and capitalize on emerging opportunities in North America as it continues to build its royalty portfolio of precious and base metals.
With a focus on maintaining fiscal discipline and strategically allocating resources, Riverside is well-positioned to pursue high-potential projects across its diverse portfolio. The Company’s financial stability and its ability to source high-potential projects enhance its ability to attract partnerships and drive shareholder value through exploration success and asset development. These factors, along with Riverside’s proven track record of delivering results, create a strong foundation for growth, the potential spinout of new businesses to shareholders, and continued exploration success in 2025 and beyond.
“Building on the strong foundation progressed in 2024, Riverside is poised to unlock key opportunities in 2025,” said Riverside’s President and CEO, John-Mark Staude. “With a solid financial position, a diverse portfolio of high-quality projects, and strategic partnerships, we are advancing our exploration efforts in Canada and Mexico while capitalizing on royalty opportunities and ongoing transactions to drive value creation.
The first half of 2025 is shaping up to be an active and pivotal period for Riverside. We are moving forward with plans to spin out our Ontario gold assets into a separate exploration company, a strategic initiative designed to unlock additional value for shareholders and provide secondary liquidity potential. Additionally, we are working closely with our partner, Fortuna Mining, on follow-on exploration the drilling success of 2024 with a program at the Cecilia Project in Mexico, on discovering now high-grade mineralization at the system the Company delineated during the 2024 program. Updates on both initiatives will be shared early in the year.
In British Columbia, we are prioritizing exploration for gold and rare earth elements across key properties, including the Deer Park, Revel and Taft projects, to take advantage of growing demand for critical minerals. These projects represent exciting opportunities to expand our resource base and further diversify our portfolio in a stable Canadian jurisdiction with drive up access and easy delivery to markets.
Looking ahead, we are actively evaluating potential acquisitions to grow our property portfolio in another North American jurisdiction. This expansion aligns with our strategy to capitalize on favorable markets and enhance Riverside’s position as a leader in exploration-driven value creation. With these initiatives and a strengthening commodities market, we are confident in our ability to deliver meaningful results and shareholder value in 2025.”
2025 Strategic Goals and Potential Milestones
Advancing Canadian Assets:
In the first half of 2025, Riverside Resources plans to present a proposal to its shareholders for the potential spinout of its Ontario gold properties-Pichette, Oakes, and Duc-into a dedicated exploration company named Blue Jay Gold (Resources). This strategic initiative aims to create a standalone entity that will focus exclusively on advancing these high-potential gold assets, strategically located within the prolific Geraldton-Beardmore Greenstone Belt in Northwestern Ontario. Shareholders previously benefited from the successful spinout of Capitan Mining (TSXV: CAPT) in 2021, as highlighted in Riverside’s press release at the time. Now, shareholders have another opportunity to unlock value through the proposed spinout of Riverside’s Ontario gold assets into a new company. This initiative aims to create a focused exploration entity, providing shareholders with direct exposure to its potential success and unlocking the embedded value within Riverside’s portfolio.
Riverside intends to execute follow-up exploration on its gold and rare earth element properties in British Columbia with a focus on advancing these projects to drill-ready status. Planned work includes detailed mapping, geochemical sampling, and geophysical surveys to refine targets and evaluate resource potential. Riverside aims to capitalize on the growing demand for gold and critical minerals, leveraging its technical expertise to advance these high-potential assets while seeking partnerships to accelerate exploration efforts.
Mexico Exploration and Partnerships:
The Company is collaborating closely with our partner, Fortuna Mining, to design and launch a follow-on exploration program at the Cecilia Project in Mexico. This next phase of exploration will continue to delineate and define the full extent of the mineralized system, building on the results from the successful 2024 drill program. By focusing on key structural zones and high-priority areas identified through geophysical surveys and earlier drilling, we aim to target higher-grade gold zones and large-scale deposits.
This planned program will include additional detailed mapping and geochemical analysis to refine targets and identify areas of significant gold and silver potential. Geophysics is also planned to refine targets ahead of the next 2025 drill program at Cecilia based upon this spring 2025 exploration results. The project exhibits many technical similarities to nearby operations, such as the Santa Elena District, where Coeur Mining recently acquired Silvercrest Metals for over $1 billion USD, and First Majestic’s most productive operation in Mexico. Updates on this initiative, along with the drill results from the 2024 program, are expected to be shared in Q1 2025 as laboratory results are finalized.
Pursue additional joint ventures or sale agreements for key projects such as Union and Ariel to further de-risk and monetize Riverside’s asset base. This strategic approach aligns with the Company’s goal of diversifying beyond Mexico while capturing value from the high-quality assets developed over the past five years.
Royalty and Strategic Opportunities:
Actively advance and expand Riverside’s royalty portfolio to enhance its value as key royalties are developed and progressed through the pipeline by major partners, such as Fresnillo PLC. The portfolio includes significant assets, such as the Net Smelter Return (NSR) royalty on the Tajitos Gold Project in Mexico with Fresnillo, which holds promising potential for future production. Fresnillo is actively advancing development and permitting at Tajitos with the project well-positioned for continued progress toward production, enhancing the royalty’s value. Further, the recent election of Mexico’s new President, who has maintained a pro-business stance bolsters the attractiveness of the Tajitos NSR.
Continue advancing discussions with U.S.-based exploration groups and other partners across the Americas to explore potential generative exploration alliances. These partnerships and portfolios have the potential to strategically enhance value for Riverside shareholders over the coming year.
Corporate Development:
Maintain a strong focus on financial discipline while strategically expanding and upgrading the Company’s portfolio of quality mineral assets. Riverside remains committed to managing its capital prudently, ensuring resources are allocated efficiently to projects with the highest potential for discovery and value creation. This disciplined approach enables the Company to advance its exploration initiatives while safeguarding its robust balance sheet.
As part of this strategy, Riverside will prioritize opportunities to acquire high-quality assets in mining-friendly jurisdictions, leveraging its proprietary databases and technical expertise to identify projects with significant upside potential. In addition to its current focus in Canada and Mexico, the Company is exploring the potential for acquisitions in another mining-friendly North American jurisdiction, further diversifying its asset base and creating new growth opportunities.
Actively engage with the investment community through attending conferences and events, including Vancouver Round Up, PDAC 2025, Swiss Mining Institute, the Rule Symposium 2025
2024 Recap and Highlights
Canada
Ontario Projects:
Riverside transferred its three key projects into a new subsidiary company, strategically positioning them for a potential unlocking of value in 2025.
Pichette Gold Project: through integrating structural geology LiDAR and geochemical data Blue Jay Gold has identified several new zones with mineralization. Recent fieldwork led to the discovery of mineralized banded iron formations, with samples returning assays up to 21 g/t gold. (Press Release, February 29, 2024)
Duc Project: The company completed a Light Detection and Ranging (LiDAR) survey, enhancing the understanding of surface projections and structural features. This data coupled with last year’s magnetics survey has improved the targeting for future exploration, particularly in identifying major shears indicative of Abitibi greenstone-style gold deposits.
Blue Jay Gold (Resources) Spinout: Riverside announced plans to transfer its Ontario gold assets, including Pichette, Oakes, and Duc, into a wholly owned subsidiary, Blue Jay Gold. (Press Release, November 14, 2024) This strategic move aims to unlock shareholder value by creating a focused exploration company dedicated to advancing these high-potential gold projects in the Geraldton-Beardmore Greenstone Belt.
British Columbia Projects:
Deer Park and Sunrise Gold Projects: Riverside has an option to acquire these projects north of Castlegar and the Rossland Gold Camp. Initial exploration identified two main targets: Viking Horde and Cougar Ridge with rock samples returning assays up to 7.07 g/t gold. These acquisitions align with Riverside’s strategy to expand its presence in British Columbia’s prolific mining regions.
Taft Project: The company secured an option to acquire a 100% interest in the Taft Project, covering 3,000 hectares in the Perry River Carbonatite Belt west of Revelstoke. This project is prospective for rare earth elements and gold, aligning with Riverside’s focus on critical minerals essential for renewable energy and advanced technologies.
Mexico
Cecilia Project: Riverside, in collaboration with Fortuna Mining, launched a fully funded 2,250-meter drill program targeting geologic exploration zones: the Agua Prieta Breccia, East Target, and Mayra vein system. This program expanded on previous exploration efforts to delineate and define the strength and continuity of hydrothermal alteration which was supported by geophysical and field data. This partnership highlights Cecilia’s potential as a cornerstone asset in Sonora and demonstrates Riverside’s expertise in leveraging its extensive Mexican database to identify high-quality opportunities that secure partnerships.
Union Project: Riverside has continued to consolidate the Union Project district by securing property agreements and integrating the data from multiple properties. This effort is aimed at developing a comprehensive, district-wide understanding of the geological framework and identifying high-priority exploration targets. The Company signed a Letter of Intent (LOI) with Questcorp Mining Inc. for an option agreement to acquire a 100% interest in the Union Project for which the Company was paid a fee of $12,500. (Press Release, September 6, 2024). The agreement includes $5.5 million in exploration expenditures, cash payments, and share issuances over four years, with Riverside retaining a 2.5% NSR royalty. Exploration efforts in 2024 focused on mapping, sampling, and geochemical surveys, identifying high-grade gold and zinc zones. These findings have positioned the project for further development in partnership with Questcorp.
Ariel Copper-Gold Project: The company has continued to advance the Ariel Project by consolidating landholdings and conducting early-stage exploration. Riverside has identified porphyry copper-gold-molybdenum potential across a 16 km² area. Recent efforts have focused on securing joint venture opportunities to unlock the project’s value.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources who is responsible for ensuring that the information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Eric Negraeff Investor Relations Riverside Resources Inc. Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – January 17, 2025) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce the first assay results from its 15,000 meter drill program at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project“). The primary goal of the winter drill program is to add ounces to the current resource model by extending mineralization in the top 100 – 200 meters from surface within the conceptual open pit, effectively converting waste rock to prospective mineable material and potentially reducing the strip ratio of the deposit.
Michael Henrichsen, CEO of Goldshore commented, “We believe that the results from the first three holes prove our thesis that mineralization can be expanded within the top 100 – 200 meters from surface. We believe that these results have the potential to add to the ounce production profile in the first several years of mine life enhancing the economic performance of the project moving forward. Importantly, the PEA currently being completed by G Mining Services represents a conservative case scenario as it will not include the results from the winter drill program.”
Highlights
Results from the first hole (MMD-24-133), drilled to infill a gap in the resource model at the eastern end of the Southwest Zone under Snodgrass Lake, has expanded the width and increased the grade in a number of mineralized shears in the Southwest Zone with a combined intercept of 79.0m of 1.28 g/t Au from 27.0m, including several discrete higher-grade shear zones:
2.0m of 8.61 g/t Au from 27.0m and
32.3m of 1.73 g/t Au from 42.7m, including
16.25m of 2.95 g/t Au from 47.3m
22.0m of 1.19 g/t Au from 84.0m, including
10.0m of 2.13 g/t from 87.0m
Hole MMD-24-134 was also drilled to infill a gap in the resource model at the eastern end of the Southwest Zone under Snodgrass Lake. Mineralization was extended above the known resource with intercepts of:
21.85m of 0.66 g/t Au from 4.5m, including
7.75m of 1.36 g/t Au from 5.0m
12.0m of 0.90 g/t Au from 137.0m
These results will allow for the modelling of mineralized shear zones to surface and into volumes that are currently modelled as waste. The deeper intercepts also add approximately 75 meters to the overall width of the Southwest Zone mineralized shear corridor.
Technical Overview
Figure 1 shows the location of the drill holes being reported with respect to the planned winter drill program, while Figure 2 illustrates a cross section through drill hole MMD-24-133 that demonstrates significant mineralization outside of the current mineral resource. Tables 1 & 2 summarize significant intercepts and drill hole locations, respectively.
Figure 1: Illustrates the 2025 ongoing winter drill program targeting resource expansion within the conceptual open pit outlined in grey. Drill holes being reported are highlighted in red.
Figure 2: Illustrates a cross -section through MMD-24-133 that demonstrates the presence of a wider series of shears within the top 100 meters from surface. Collectively the shear zones intersected demonstrate greater width to mineralized shear zones than represented in the current resource model as well as the extension of mineralized shears from depth toward the surface. The cross-section also highlights the growth potential beneath the open pit that may enable the open-pit resource to be as deep as the Main-QES pit.
Drilling at the Southwest Zone aims to add to the mineral resource by infilling gaps within the current model created by sparse drilling. Drilling at shallow depths of 100 – 200 meters will allow for mineralized shear zones to be extended to the surface. Drilling at depths of 200 to 400 meters will allow the expansion of the open pit resource to a similar depth as the Main-QES pit that are approximately 500 meters deep.
Two holes (MMD-24-133 and MMD-24-134) were drilled along the western edge of Snodgrass Lake to further delineate the trend of the high-grade core shears and to test the up-dip potential of lower grade marginal shear zones.
Hole MMD-24-133 intersected several closely spaced, high-grade shears hosting quartz-carbonate veinlets with up to 2-3% pyritechalcopyrite within a strongly hematite-albite and silica-sericite-pyrite altered granodiorite intrusion along the contact of a more competent porphyritic diorite (Figure 3). Results were wider and higher grade than suggested in the resource model with 79.0m of 1.28 g/t Au from 27.0m, including 32.3m of 1.73 g/t Au and 22.0m of 1.19 g/t Au. These results are top cut with a cap at 30 g/t Au, which only impacted a 1.2m veined shear assaying 34.8 g/t Au. The hole then transitions into weaker shearing and mineralization within silica-sericite and epidote-chlorite altered diorite intrusions with lower grade intercepts, such as 12.0m of 0.57 g/t Au from 158.0m depth.
Figure 3: Illustrates drill core from hole MMD-24-133 that is characterized by a stacked sequence of high-grade shears within an altered granodiorite returning 16.25m of 2.95 g/t Au from 47.3-66.55m.
Hole MMD-24-134 collared into the same mineralized and sheared altered granodiorite intrusion yielding grade intercepts such as 21.85m of 0.66 g/t Au from 4.5m depth, including 7.75m of 1.36 g/t Au. The hole quickly transitions into the wide multi-stage silica-sericite and epidote-chlorite altered diorite intrusion package, as seen in MMD-24-133, yielding broad lower grade intercepts such as 32.15m of 0.36 g/t Au from 84.85m and 12.0m of 0.90 g/t Au from 137.0m.
Both deeper intercepts in MMD-24-133 and -134 represent new mineralized shears not previously included in the current resource model that will potentially add to the overall width of the shear corridor by approximately 75 meters.
Hole MMD-24-136 was drilled underneath Snodgrass Lake from a peninsula along the southeastern shore to properly identify the southeastern limit of the Southwest Zone. The hole encountered varying andesitic and dacitic volcanics before intersecting the diorite package at the end of the hole. The diorite is weakly sheared with pervasive sericite-silica alteration similar to that encountered towards the end of the previous two holes and is weakly mineralized yielding an intercept of 8.8m of 0.39 g/t Au from 218.0m depth. The hole was terminated as the remaining zone had been previously drilled from the southwestern side of the lake.
The ongoing drill program continues to infill wide-spaced drilling gaps within the Southwest Zone, improving the understanding of the controls on mineralization with the aim of growing it into a larger, more continuous mineralized domain, like that of the Main and QES zones. This includes drilling at 200 to 400 meters depth to test mineralization that may extend the mineral resource and enable the pit to extend to a similar depth as the Main-QES pit (~500 meters).
Winter temperatures have been sufficient to allow access to the muskeg-covered, northern portion of the QES zone and the Company is also commencing ice making activities on Snodgrass Lake. Both are high priorities for the current drill campaign, as they have not been drill-tested by Goldshore and have limited historical exploration drilling completed. As a result, there are significant volumes within the current conceptual open pit that are modelled as waste but have the potential to contain shear-hosted gold mineralization, which in turn, has the potential to add ounces to the current mineral resource estimate.
Table 1: Significant intercepts
HOLE ID
FROM
TO
LENGTH (m)
TRUE WIDTH (m)
CUT GRADE (g/t Au)
UNCUT GRADE (g/t Au)
MMD-24-133
27.00
29.00
2.00
1.2
8.61
8.61
42.70
75.00
32.30
18.6
1.73
1.91
incl
47.30
63.55
16.25
9.3
2.95
3.30
incl
47.30
48.50
1.20
0.7
30.0
34.8
84.00
106.00
22.00
12.7
1.19
1.19
incl
87.00
97.00
10.00
5.8
2.13
2.13
123.00
128.00
5.00
2.9
0.33
0.33
158.00
170.00
12.00
6.9
0.57
0.57
incl
159.00
161.75
2.75
1.6
1.06
1.06
MMD-24-134
4.50
26.35
21.85
15.5
0.66
0.66
incl
5.00
12.75
7.75
5.5
1.36
1.36
35.00
46.00
11.00
7.9
0.79
0.79
incl
39.00
42.00
3.00
2.2
2.03
2.03
63.00
66.95
3.95
2.9
0.75
0.75
84.85
127.00
42.15
31.3
0.36
0.36
137.00
149.00
12.00
9.1
0.90
0.90
159.00
165.80
6.80
5.2
0.30
0.30
MMD-24-136
218.00
226.80
8.80
7.0
0.39
0.39
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 5 metres and minimum mineralized width of 2m. 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: Drill Collars
HOLE
EAST
NORTH
RL
AZIMUTH
DIP
EOH
MMD-24-133
668,515
5,378,324
428
90
-45
225
MMD-24-134
668,522
5,378,305
428
105
-45
225
MMD-24-136
668,645
5,378,012
430
350
-45
228
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 analysed 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.
Qualified Person
Peter Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has approved the scientific and technical information contained in this news release.
Mr. Flindell has verified the data disclosed. To verify the information related to the winter drill program at the Moss Gold Project, Mr. Flindell has visited the property several times; discussed and reviewed logging, sampling, bulk density, core cutting and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations. He has also overseen the Company’s health and safety policies in the field to ensure full compliance, and consulted with the Project’s host indigenous communities on the planning and implementation of the drill program, particularly with respect to its impact on the environment and the Company’s remediation protocols.
Marketing Communications Engagements
The Company also announces that it has engaged the following service providers (the “Contractors”) to advise and coordinate market communications and investor relations on behalf of the Company. The Company is at arms-length from each of the Contractors and does not propose to issue any securities to any of the Contractors in consideration of services to be provided to the Company. Each Contractor has agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange.
The Company has engaged Cambridge House International. (“Cambridge House“) to provide a 3 interview studio series for a term ending March 31, 2025. Cambridge House will receive a total fee of US$34,500 in consideration, of which US$19,500 was paid on entry of the engagement and US$5,000 will be paid with the completion of each video interview. Cambridge House is based in Squamish, British Columbia and is wholly owned by Jay Martin. To the Company’s knowledge, neither Cambridge House nor Jay Martin have any interest, directly or indirectly, in the securities of the Company.
The Company has entered into an agreement (the “SRC Agreement“) with SRC Swiss Resource Capital AG (“SRC“) for investor relations and communications services in Europe. The SRC Agreement is effective as of January 15, 2025, for a period of one year, after which time the SRC Agreement is renewable on a quarterly basis. The services to be provided by SRC to the Company include communications services, generally viewed as investor relations, including dissemination of information to existing and potential shareholders, creating media through interview and videos as well as supporting or representing the Company at trade and investment shows. Pursuant to the terms of the SRC Agreement, SRC is to be paid 5,000 CHF per month with additional fees for special services such as trade and investment shows.
SRC is a private company with a business address at Poststr. 1, CH-9100, Herisau, Switzerland. SRC is led by Jochen Staiger, Chief Executive Officer. To the best of the Company’s knowledge, neither SRC nor Jochen Staiger have any interest, directly or indirectly, in the securities of the Company.
About Goldshore
Goldshore is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $60 million of new capital and completed approximately 80,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 235,000 meters of drilling. The 2024 updated NI 43-101 mineral resource estimate (“MRE”) has expanded to 1.54 million ounces of Indicated gold resources at 1.23 g/t Au and 5.20 million ounces of Inferred gold resources at 1.11 g/t Au. The MRE only encompasses 3.6 kilometers of the 35+ kilometer mineralized trend, remains open at depth and along strike and is one of the few remaining major Canadian gold deposits positioned for development in this cycle. Please see NI 43-101 technical report titled: “Technical Report and Updated Mineral Resource Estimate for the Moss Gold Project, Ontario, Canada,” dated March 20, 2024 with an effective date of January 31, 2024 available under the Company’s SEDAR+ profile at www.sedarplus.ca. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company’s website (www.goldshoreresources.com).
For More Information – Please Contact:
Michael Henrichsen President, Chief Executive Officer and Director Goldshore Resources Inc.
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.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project; the potential mineralization at the Moss Gold Project based on the winter drill program, including the potential for additional mineral resources; the enhancement of the Moss Gold Project and potential mining methods; the timing of technical reports and economic studies; statements regarding the Company’s future drill programs, including the expected benefits and results thereof; 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: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; 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; the fluctuating price of gold; unknown labilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company’s limited operating history; intervention by non-governmental organizations; outside contractor risks; 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 other risks associated with executing the Company’s objectives and strategies as well as those risk factors discussed in the Company’s continuous disclosure documents filed under the Company’s SEDAR+ profile at www.sedarplus.ca.
The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company’s ability to fund its programs; the Company’s ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company’s mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company’s ability to operate in a safe, efficient, and effective manner; the Company’s ability to obtain financing as and when required and on reasonable terms; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; and that there will be no material adverse change or disruptions affecting the Company or its properties.
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. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. 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.
TORONTO (Reuters) – Canada is preparing a list of potential US retaliatory tariffs and some of those could be on critical minerals, Energy and Natural Resources Minister Jonathan Wilkinson said on Thursday.
Wilkinson said that Canada was looking at points of leverage that will create maximum pressure on the United States to come to table to find a resolution to the tariff issue.
Canada could impose countermeasures on up to C$150 billion ($105 billion), a source familiar with the matter said on Wednesday.
Vancouver, British Columbia–(Newsfile Corp. – January 15, 2025) – West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (“West Point Gold” or the “Company”) is pleased to announce the first drill results from its recently completed 1,264m (7 hole) diamond drill campaign focused on the Tyro Main Zone, at its Gold Chain Project in Arizona.
Highlights:
Hole GC24-30 intersected 52.25m of 1.53 g/t Au, including 36.10m of 2.02 g/t Au, from 43.50m.
Hole GC24-31 intersected 50.65m of 0.53 g/t Au, from 51.30m.
Both these holes intersected additional zones in the hanging wall of the deposit – 2.56m of 2.85 g/t Au, from 7.80m (GC24-30) and 4.10m of 2.17 g/t Au, from 23.00m (GC24-31), prompting infill sampling of the holes which is in progress and have the potential to expand the width of the mineralized zone.
Results confirm the exploration target at Tyro of 15.6 to 31.2 Mt at 1.5 to 2.5 g/t Au (*see note on the next page).
Assays are pending for the remaining five holes representing approximately 1,025m.
“This drill program has materially advanced our understanding of the Tyro Main Zone and its structural controls. The grades returned fit West Point Gold’s previously announced exploration target, while the widths, along with the new hanging wall zone, suggest the zone may be wider than first thought,” stated CEO, Quentin Mai. “We look forward to the balance of the results and are preparing for the next phase of drilling which is expected to follow-up on these positive results.”
Figure 1: Preliminary Tyro Main Zone Long Section showing GC24-30 and GC24-31 (center), along with RC drilling, trenches and 200 Level Sampling
All widths shown our down hole; true width is approximately 80% of down hole width
Hole GC24-30 -Infill sampling is underway, assays pending between 10.36 to 16.40m, 20.00 to 24.70m, 25.30 to 43.50m
Hole GC24-31 – Infill sampling is underway, assays pending between 27.10 to 49.99m
Summary The Q4 2024 drill program totaled 1,264m (7 holes), and was designed to improve West Point Gold’s understanding of the Tyro Main Zone, in particular the structural model and controls of the mineralization. Based on these assay results and our observations from the other holes, there are two key findings.
First, as evidenced in these assay results, the zone appears to be either wider or there are additional structures in the hanging wall (east side) of the Tyro Main Zone. It also appears that the Tyro Main Zone most likely dips at 80 degrees to the east versus our previous assumption that the zone was near vertical.
Secondly, the Tyro Main Zone appears to have developed between two near parallel structures whose relative movement is responsible for the ground preparation for subsequent gold-bearing fluids. The footwall boundary appears to be a sharp contact that may control mineralization while the hanging wall remains partially defined.
These initial results from holes GC24-30 and GC24-31 are consistent with the previously announced exploration model, of 15.6 to 31.2 Mt at 1.5 to 2.5 g/t Au* and conform with the existing geologic model based upon drilling, trenching and geologic mapping conducted over the vein system.
*The potential quantity and grades are conceptual in nature. There has been insufficient exploration drilling to define a mineral resource, and it is uncertain if further exploration will result in the exploration target being delineated as a mineral resource.
Hole GC24-30 Drilled to the northwest and perpendicular to the Main Tyro vein system (Figure 4), hole GC24-30 was designed to cross the structure about 50 metres below the Tyro 200 Level which is immediately below the floor of the open pit (Figure 2). The hole is located about 100 metres northeast of hole No. GC23-23 which traversed 44.2 m (approximately 36m true width) at 2.01 g/t Au. A similar complex of veins and veinlets was encountered in hole GC24-30 with the results presented in Table 1. The intercept consists of several discrete banded chalcedony-adularia veins and vein breccia up to 0.8 metres wide within a broader zone 1 to 10 cm veinlets in altered wall rock.
Hole GC24-31 Drilled about 80 metres northeast of hole GC24-30, hole GC24-31 also passed immediately beneath the Tyro 200 Level and about 50 metres below the floor of the open pit (Figure 1). The mineralized envelope, which extends down-hole from 23.00 to 100.55 metres, consists of mostly quartz-chalcedony veinlets with local banded chalcedony-adularia veins and vein breccia up to a couple metres wide.
To date, four holes have been drilled from 20 to 70 metres beneath the Tyro 200 Level over a strike length of about 300 metres indicating widths of the mineralized zone between 25 and 40 metres (true width).
Qualified Person Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for overseeing all phases of the drilling program including logging, core cutting, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, over limit samples were determined by fire assay and gravimetric finish. Silver plus 15 other elements were determined by Aqua Regia ICP-AES (IM-2A16), over limit samples were determined by fire assay and gravimetric finish. Both certified standards and blanks were inserted on site along with duplicates, standards and blanks inserted by American Assay. Standard sample chain of custody procedures were employed during drilling and sampling campaigns until delivery to the analytical facility.
About West Point Gold Corp. West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.
For further information regarding this press release, please contact: Aaron Paterson, Corporate Communications Manager Phone: +1 (778) 358-6173 Email: info@westpointgold.com
FORWARD-LOOKING STATEMENTS: This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business, including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. West Point Gold does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
Edmonton, Alberta–(Newsfile Corp. – January 15, 2025) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to provide an update on the acquisition of the Motherlode Crown Grants from First Majestic Silver Corp. (First Majestic) and some highlights of recent exploration completed by the Company on the Motherlode Crown Grants, host to the historical Motherlode, Sunset, Sunrise and Greyhound mines that at various times during the early and middle 1900’s produced copper (Cu), gold (Au) and silver (Ag) from both open pit and underground workings (Figures 1 to 5).
The Motherlode Crown Grants near the town of Greenwood, South-Central British Columbia (BC) include 13 Crown Grants for over 300 acres (121.4 hectares) that include subsurface mineral rights. The Crown Grants take precedence over mineral claims issued pursuant to the Mineral Tenures Act (BC). The Crown Grants cover a number of historical mines, including the Motherlode Mine that produced 76,975,111 pounds of Cu, 173,319 ounces of Au and 688,203 ounces of Ag during the active periods of mining from 1900 to 1920 and then from 1957 to 1962. The Motherlode skarn mineralization is developed in the Triassic Brooklyn Formation sediments (BC Minfile 082ESE034). The Motherlode Mine is road accessible and is approximately 2.5 km northwest of the town of Greenwood (Figure 1).
Highlights
First Majestic has completed the re-instatement of the Motherlode Crown Grants and is in the process of transferring the Crown Grants with the subsurface mineral rights to the Company.
The Company has collected in excess of 350 rock samples, mostly selective grab samples, from across the Motherlode project area including the newly acquired Crown Grants (Figures 2 & 3).
Of the 17 samples collected from the Motherlode Pit area, a total of 9 samples yielded from 1.16% Cu up to 4.88% Cu, 12 samples yielded from 1.075 grams per tonne (g/t) Au up to 6.65 g/t Au and 8 samples yielded from 12.6 g/t Ag up to 51.3 g/t Ag (Figures 2 & 3; Table 1).
Of the 10 samples collected from the Sunset Pit area, a total of 8 samples yielded from 1.44% Cu up to 3.66% Cu, 9 samples yielded from 1.7 g/t Au up to 4.88 g/t Au and 7 samples yielded from 14.5 g/t Ag up to 55 g/t Ag (Figures 2 & 3; Table 1).
Various other targets including the Greyhound Pit, the Butte City Target, the Margerite Target and the Great Hopes Target have yielded a number of samples with >1% Cu and >10 g/t Au and warrant additional exploration (Figures 2 & 3; Table 1).
Various historical Mineral Resource Estimates (MREs) produced both prior to the last period of mining 1957 – 1962 (Fredericks, 19611) and after the last period of mining as part of a couple of historical economic studies have been recovered from the publicly available BC Property Files.
A historical MRE constructed in 1967 by Allen Geological Engineering Ltd.2 after the last period of mining on behalf of two companies, Aabro Mining and Oils Ltd. and Cumberland Mining Ltd., is described as Drill Proven (Assured), Indicated and Inferred and totals 2.8 million tonnes with a grade of 0.8% Cu and 1.06 g/t Au yielding a calculated grade of 1.6% Cu equivalent (CuEq) utilizing 90% recovery for both metals and $4/lb for Cu and $2,000/oz for Au.
Figure 1: Land position and targets of interest for future exploration, Greenwood Project.
This historical MRE was calculated prior to the implementation of the standards set forth in the current National Instrument (NI) 43-101 and current Canadian Institute of Mining, Metallurgy and Petroleum (CIM) standards for MREs. Resource definitions, terminology and reporting standards have changed significantly since these series of reports. The estimates in these reports are all considered historical in nature, and a Qualified Person (QP) has not done sufficient work to evaluate these resources as current resources. For these resources to be updated as current resources, a QP would need to examine and analyze the existing drill core, validate and verify the existing data supporting the historical estimate, and perform a confirmatory site visit. Therefore, the company and the QP for this news release are treating this estimate as historical in nature, and are highlighting the estimate for the sole purpose of illustrating the potential extent of mineralization that may be present.
In addition to the historical MREs, drilling in 1996 by Strathcona Mineral Services on behalf of YGC Resources (Veris Gold a wholly owned sub of First Majestic) intersected several zones of Cu-Au mineralization targeting the gold bearing halo to the Motherlode Skarn along the east side of the Motherlode Pit in the vicinity of the historical underground workings (Figures 4 and 5).
Drillhole 96-8 encountered gold in almost every sample including a weighted average grade of 0.23 g/t Au over the entire 154.23 m (506 ft) length drillhole with a number of higher grade zones in proper skarn towards the bottom of the hole (Figure 5).
The Main Motherlode skarn was intersected at the bottom of the drillhole and returned 2.5 g/t (0.073 ounces per ton [opt]) along with significant Cu over 4.88 m (16 ft) at the end of the drillhole from skarnified Brooklyn limestone, that is associated with a strong AeroTEM conductivity anomaly (Figure 4).
The drillhole collared in Brooklyn Sharpstone conglomerate and drilled through alternating skarn an altered diorite along the length of the drillhole, with the main zone at the end of the hole characterized by increased quartz-carbonate-chalcopyrite veining and volumetric chalcopyrite.
The hole was ended due to technical difficulties. Strathcona Mineral Services recommended follow-up drilling which has never been completed.
Figure 2: Motherlode Crown Grants, Historical and Modern Gold Sampling Greenwood Project.
Brian Testo, President and CEO of Grizzly Discoveries, stated, “We are excited with the acquisition of the historical Motherlode Crown Grants and the potential battery metal and precious metal targets that they provide. We look forward to an aggressive 2025 drilling campaign at the Motherlode area and other high grade Au-Ag-Cu showings and historical mines along with additional exploration for battery metals in our current 170,000+ acre holdings in the Greenwood District.“
The Company currently has an active land use permit for drilling at the Motherlode area and has designed a confirmation and exploration core drilling program for the Motherlode and Sunset pit areas along with additional drilling at the Greyhound and Great Hopes targets based upon a compilation of historical information. It consists of about 5,000 m in 20 to 25 core holes and is focused on targets beneath and along strike from the various pit areas.
Table 1. Motherlode Area Rock Sample Assay Highlights.
Sample
Showing/ Area
Easting (N83Z11)
Northing (N83Z11)
Au (ppm)
Ag (ppm)
Cu (%)
Pb (%)
Zn (%)
09BMP104
Top
374618
5442036
2.830
32.0
0.429
0.172
0.523
09BMP111
Marguerite
375768
5441431
1.165
51.3
1.160
–
–
09DAP242
Sunset
374961
5440954
4.880
36.4
1.635
–
–
09DAP243
Sunset
374963
5440953
2.340
55.0
1.430
–
–
09DAP244
Sunset
374965
5440946
2.550
20.2
1.030
–
–
09DAP245
Sunset
374965
5440940
3.070
37.1
2.560
–
–
09DAP246
Sunset
374966
5440950
1.700
9.7
2.490
–
–
09RHP063
Motherlode
374624
5441380
6.650
21.7
3.610
–
–
09RHP065
Sunset
374950
5440939
3.250
7.1
0.546
–
–
09RHP066
Sunset
374968
5440960
2.970
17.5
3.680
–
–
09RHP067
Sunset
374978
5440965
3.080
14.5
3.030
–
–
09RHP068
Sunset
374978
5440965
4.110
33.2
1.440
–
–
10CBP023
Great Hopes
375782
5440926
11.300
3.9
0.057
–
–
10CGP059
Greyhound (Butte City)
375428
5440600
13.850
13.0
0.259
–
–
10CGP248
Greyhound (West)
375034
5440346
5.950
28.3
0.069
–
–
10CGP274
Motherlode (West)
374086
5441589
0.246
6.1
–
0.249
2.630
10DCP065
Motherlode North
374972
5442329
0.122
5.5
0.060
–
2.170
10DCP103
Motherlode
374840
5441399
2.870
17.6
2.070
–
–
10JHP018
Marguerite
375780
5441418
1.055
39.1
1.480
–
–
10JHP126
Great Hopes
375795
5440946
51.000
5.2
–
–
–
10JHP130
Gold Bug
377091
5441148
16.600
2110.0
0.216
1.400
0.298
10WBP259
Greyhound (Butte City)
375420
5440613
30.900
60.0
0.259
0.971
3.410
Summary of the Motherlode Crown Grant Purchase Terms
The Company will cover the costs to reinstate and transfer the Crown Grants to the Company.
Grizzly will issue 250,000 common shares of the Company to First Majestic upon successful transfer of the Crown Grants to the Company. These shares will be subject to a restricted trading period ending four months and one day from the date of issuance
The Company will grant a 1% Net Smelter Return (NSR) Royalty on the Crown Grants to First Majestic that with an option for the Company to purchase the NSR for $250,000 at any time.
The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.
ABOUT GRIZZLY DISCOVERIES INC.
Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.
On behalf of the Board,
GRIZZLY DISCOVERIES INC. Brian Testo, CEO, President
Suite 363-9768 170 Street NW Edmonton, Alberta T5T 5L4
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.
Caution concerning forward-looking information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-Looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.
Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.
1Report on Motherlode and Sunset Mine by Frances Fredericks, 1951. 2The Motherlode and Greyhound Properties of Cumberland Mining Co. Ltd. N.P.L. Greenwood, BC by Allen Geological Engineering Ltd. September 27th, 1967.
