Proven ProbableCheck out the latest update coming from Provenance Gold:
https://www.provenancegold.com/PAU_Presentation_Web.pdf?0ec9f
Website: https://www.provenancegold.com/
CSE: PAU | OTCQB: PVGDF
Corporate Office Provenance Gold Corp. 2200 – 885 W Georgia St. Vancouver, BC, V6C 3E8 +1-250-516-2455 email@provenancegold.com
Gold futures jumped above $2,000 an ounce on Tuesday, extending its rise toward its highest price since August of 2020 as the war in Ukraine fueled bids for safe haven assets like bullion.
Meanwhile, palladium prices were running near an all-time high as the Ukrainian crisis in its second week, prompted a surge higher in the broad commodity complex.
April gold GCJ22, 2.47% GC00, 2.45% rose $18.90, or 1%, to $2,015.20 an ounce, following a 1.5% advance on Monday, which has put bullion at around the highest level in about 18 months, hitting a Tuesday peak at $2,027.80.Gold Continuous ContractSource: FactSetAs of March 8, 9:56 a.m. ETApril 2020’21’221,4001,5001,6001,7001,8001,9002,000$2,100
Despite the rally in gold, some market participants are skeptical about the continued upside in the precious metals. At least one strategist speculated that restrictions on purchasing crypto, such as bitcoin, would prompt Russia’s central bank to dump a chunk of its reserves of gold to get cash.
“The Bank of Russia, for the most part, has no other means but to sell off the gold from its reserves in Russia. These steps could be taken tomorrow, as Monday and Tuesday were national holidays [in Russia],” wrote Alex Kuptsikevich, a senior financial analyst at FxPro, in a Tuesday note.
Thus far, gold prices, and those for other precious metals, have been buttressed by doubts about central bankers’ ability to limit the rise in inflation in the face of the geopolitical tensions.
“Investors are liquidating their positions in risky assets and are hesitant to pump more capital into equity markets,” wrote Naeem Aslam, chief market analyst at AvaTrade, in a research note. “These dynamics have pushed the price of the yellow metals towards $2,000.”
Meanwhile, futures for palladium were rallying toward $3,000, with the white precious metal gaining $68.10, or 2.4%, to $2,970 an ounce, at last check, carving out a fresh all-time high.
A retreat in the dollar, down 0.2%, from a 2020 peak, as measured by the ICE Dollar Index DXY, -0.34%, also was helping to support purchases among overseas buyers.
VANCOUVER, BC / ACCESSWIRE / March 7, 2022 / Group Ten Metals Inc. (TSX.V:PGE; OTCQB:PGEZF; FSE:5D32) (the “Company” or “Group Ten”) today reports partial results from four drill holes in a second tranche of drill results from the 14-hole resource expansion campaign completed at the Company’s flagship Stillwater West PGE-Ni-Cu-Co + Au project in Montana, USA.
Results continue to support the Company’s priority objective of expanding the October 2021 inaugural mineral resource estimates, with multiple wide and highly mineralized intervals returned in step-out drilling at three deposit areas that span seven kilometers of the 12-kilometer core project area (see Figure 1). Mineralization remains open to expansion along trend and at depth in all deposit areas.
2021 Drill Highlights:
Michael Rowley, President and CEO, commented, “The Stillwater Igneous Complex has been a large-scale American source of critical minerals for many decades, from chromium mined in the 1940s and 1950s to palladium and platinum that became essential in the 1980s. Our “Platreef-in-Montana” model is well-timed for what we believe will be the next phase of the Stillwater district’s contribution to critical mineral supply and commodity independence in the USA; world-class nickel and copper sulphide deposits, enriched in palladium, platinum, rhodium, gold, and cobalt and hosted in the lower Stillwater complex at Stillwater West.”
“This second tranche of drill results from our resource expansion campaign builds nicely upon the first results and continues to advance us towards expanded resource estimates in three of the five deposit areas on a priority basis. We continue to see demonstrations of a large mineralized system with an impressive endowment of eight of the commodities listed as critical by the US government in numerous holes across the 12-kilometer core project area. In addition, we continue to see good optionality on possible mining methods with successively higher-grade intervals contained within wider intervals of hundreds of meters of lower grade mineralization. We look forward to reporting additional drill results, exploration plans for 2022, and other news in the near term.”
Table 1 – Highlight Results from 2021 Expansion Drill Campaigns at the DR, Hybrid, CZ, and HGR Deposit Areas
Assays pending for rhodium and certain intervals denoted by *. Highlighted significant intercepts with grade-thickness values over 20 gram-meter PdEq are presented above, except as noted. Grade thickness values cover significant mineralized intervals with total palladium and nickel equivalent grade-thickness determined by multiplying the thickness of continuous mineralization (in meters) by the palladium equivalent grade (in grams/tonne) to provide gram-meter values (g-m) or by multiplying the nickel equivalent grade (in percent) to provide percent-meter values as shown. Total nickel and palladium equivalent calculations reflect total gross metal content using metals prices as follows (all USD): $7.00/lb nickel (Ni), $3.50/lb copper (Cu), $20.00/lb cobalt (Co), $1,000/oz platinum (Pt), $1,800/oz palladium (Pd), and $1,600/oz gold (Au). Equivalent values have not been adjusted to reflect metallurgical recoveries. Total metal equivalent values include both base and precious metals. In terms of dollar value, 0.20% nickel equates to a copper value of 0.40%, or a palladium value of 0.53 g/t, using the above metal values. Intervals are reported as drilled widths and are believed to be representative of the actual width of mineralization.
Upcoming News and Events
Jeffrey Christian, Managing Director of CPM Group, will join Group Ten CEO Michael Rowley for a live webinar on March 8, 2022, at 10:00 am PT (1:00 pm ET) for a concise overview and update on the Company and the Stillwater West PGE-Ni-Cu-Co+Au project with in-depth discussion on the global macro-economic picture, trends and implications for the broader commodities sector and critical minerals, in particular.
This will be an interactive event with participants encouraged to submit questions and comments throughout.
To register, click here or the graphic below.
About Stillwater West
Group Ten is rapidly advancing the Stillwater West PGE-Ni-Cu-Co + Au project towards becoming a world-class source of low-carbon, sulphide-hosted nickel, copper, and cobalt, critical to the electrification movement, as well as key catalytic metals including platinum, palladium and rhodium used in catalytic converters, fuel cells, and the production of green hydrogen. Stillwater West positions Group Ten as the second-largest landholder in the Stillwater Complex, with a 100%-owned position adjoining and adjacent to Sibanye-Stillwater’s PGE mines in south-central Montana, USA1. The Stillwater Complex is recognized as one of the top regions in the world for PGE-Ni-Cu-Co mineralization, alongside the Bushveld Complex and Great Dyke in southern Africa, which are similar layered intrusions. The J-M Reef, and other PGE-enriched sulphide horizons in the Stillwater Complex, share many similarities with the highly prolific Merensky and UG2 Reefs in the Bushveld Complex. Group Ten’s work in the lower Stillwater Complex has demonstrated the presence of large-scale disseminated and high-sulphide battery metals and PGE mineralization, similar to the Platreef in the Bushveld Complex2. Drill campaigns by the Company, complemented by a substantial historic drill database, have delineated five deposits of Platreef-style mineralization across a core 12-kilometer span of the project, all of which are open for expansion into adjacent targets. Multiple earlier-stage Platreef-style and reef-type targets are also being advanced across the remainder of the 32-kilometer length of the project based on strong correlations seen in soil and rock geochemistry, geophysical surveys, geologic mapping, and drilling.
About Group Ten Metals Inc.
Group Ten Metals Inc. is a TSX-V-listed Canadian mineral exploration company focused on the development of high-quality platinum, palladium, nickel, copper, cobalt, and gold exploration assets in top North American mining jurisdictions. The Company’s core asset is the Stillwater West PGE-Ni-Cu-Co + Au project adjacent to Sibanye-Stillwater’s high-grade PGE mines in Montana, USA. Group Ten also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration companies, with a portfolio of large, brownfield assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Group Ten Metals in the Stillwater PGM-nickel-copper district of Montana, and Granite Creek Copper in the Yukon’s Minto copper district. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorers/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTC, and Frankfurt stock exchanges.
Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.
Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Michael Rowley, President, CEO & Director
Email: info@grouptenmetals.com Phone: (604) 357 4790
Web: http://grouptenmetals.com Toll Free: (888) 432 0075
Quality Control and Quality Assurance
2021 drill core samples were analyzed by ACT Labs in Vancouver, B.C. Sample preparation: crush (< 7 kg) up to 80% passing 2 mm, riffle split (250 g) and pulverize (mild steel) to 95% passing 105 µm included cleaner sand. Gold, platinum, and palladium were analyzed by fire assay (1C-OES) with ICP finish. Selected major and trace elements were analyzed by peroxide fusion with 8-Peroxide ICP-OES finish to insure complete dissolution of resistate minerals. Following industry QA/QC standards, blanks, duplicate samples, and certified standards were also assayed.
Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.
Forward-Looking Statements
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Group Ten believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Group Ten Metals Inc.
View source version on accesswire.com:
https://www.accesswire.com/691772/Group-Ten-Reports-High-Grade-Drill-Results-Spanning-Seven-Kilometers-at-Stillwater-West-Demonstrating-Significant-Potential-for-Expansion-of-Critical-Mineral-Resources-in-Montana-USA
VANCOUVER, BC / ACCESSWIRE / March 7, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“) would like to officially welcome Carlos Espinosa as Chief Executive Officer (CEO), President and member of the Board of Directors, effective as of March 4th, 2022.
Further to the news release dated February 9, 2022, Mr. Espinosa replaces Michael Mulberry, who will remain a Director of RooGold. Yana Borovskaya has officially stepped down from the Board of Directors concurrent with the appointment of Mr. Espinosa.
Carlos Espinosa commented, “I am very excited to join a company with a great team of professionals and excellent gold and silver assets in Australia, a country with a long mining tradition and one of the best mining jurisdictions in the world. I am sure that together we will build a fantastic story and an amazing company, adding value to our shareholders, as well as local communities, government, employees and consultants, and the rest of stakeholders around RooGold.”
Issuance of Stock Options
RooGold has issued 1,000,000 incentive stock options (the “Options“) to certain directors, officers, employees, and consultants of the Company, effective March 4, 2022 (the “Effective Date“). The Options have an exercise price of $0.30 and are exercisable for a period of five (5) years, expiring March 4, 2027. The Options will be subject to a vesting schedule whereby 166,667 Options will vest every six (6) months from Effective Date.
About ROOGOLD
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.
For further information please contact:
Ryan Bilodeau
T: 416-910-1440
info@roogoldinc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTSRESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE: RooGold Inc.
View source version on accesswire.com:
https://www.accesswire.com/691800/Carlos-Espinosa-Officially-Joins-RooGold-as-Chief-Executive-Officer
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
VANCOUVER, British Columbia, March 07, 2022 (GLOBE NEWSWIRE) — Dolly Varden Silver Corporation (TSXV: DV) (OTC: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that the Company has entered into an agreement with Research Capital Corporation and Eventus Capital Corp., as co-lead agents and joint bookrunners, on behalf of a syndicate of agents including Haywood Securities Inc. (collectively, the “Agents“) in connection with a best efforts brokered private placement financing (the “Offering“) to raise gross proceeds of up to $10 million from the sale of up to 9.8 million common shares of the Company that qualify as “flow-through shares” as defined under the Income Tax Act (Canada) (the “Offered Shares“) at a price of $1.02 per share (“Offered Price“).
“On the heels of the transformational acquisition of Homestake Ridge, these additional funds will allow the company to aggressively advance one of the largest high-grade, undeveloped silver and gold assets in Western Canada.” commented Shawn Khunkhun, Chief Executive Officer of the Company.
The Agents will have an option (the “Agents’ Option“) to offer for sale up to an additional 15% of the number of Offered Shares sold in the Offering at the Offering Price, which Agents’ Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.
The net proceeds of the Offering will be used for further exploration, mineral resource expansion and drilling in Kitsault Valley located in northwestern British Columbia, Canada, as well as for working capital as permitted.
In connection with the Offering, the Agents will receive an aggregate cash fee equal to 6.0% of the gross proceeds of the Offering, including in respect of the Agent’s Option.
The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
The issuance of the Offered Shares under the Offering and the payment of the Agents’ commission are subject to the approval of the TSX Venture Exchange, receipt of any other required regulatory approvals and other customary closing conditions. Closing of the Offering is anticipated to occur on or about March 30, 2022. Securities issued under the Offering will be subject to a four-month and-one-day statutory hold period.
Pursuant to the ancillary rights agreement between Hecla Canada Ltd. (“Hecla“) and the Company dated September 4, 2012, Hecla will be entitled to acquire common shares of the Company at a price of $0.86 per share to maintain its pro rata equity interest in the Company. If Hecla exercises its pro rata rights under the ancillary rights agreement, any common shares issued to Hecla will be in addition to those issued as part of the Offering.
Pursuant to the investor rights agreement between Fury Gold Mines Ltd. (“Fury“) and the Company dated February 25, 2022, Fury will be entitled to acquire common shares of the Company at a price of $0.86 per share to maintain its pro rata equity interest in the Company. If Fury exercises its pro rata right under the investor rights agreement, any common shares issued to Fury will be in addition to those issued as part of the Offering.
This release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, completion of the Offering, TSX Venture Exchange approval of the Offering, the use of proceeds with respect to the Offerings, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
For further information: Shawn Khunkhun, CEO & Director, 1-604-602-1440, www.dollyvardensilver.com;
Riverside Resources: (TSX.V: RRI | OTCQB: RVSDF)
Website: https://www.rivres.com/
Corporate Presentation: https://bit.ly/3gJ9YC6
Communications Team 778-327-6671
Email info@rivres.com
PARTNERING THE MOST HIGH RISK, HIGH-COST STAGES OF EXPLORATION Millrock (TSX.V: MRO.V) is a project generator company focused on the discovery and development of high-value metallic mineral deposits in two jurisdictions with outstanding potential: the State of Alaska and Mexico – primarily the state of Sonora. The company’s main emphasis has been on gold and copper, focusing on porphyry and high-grade vein style deposits. Our objective is to discover a world-class ore body, building further shareholder value through the exploration and development of existing projects and exploration joint ventures.
Millrock Resouces (TSX.V: MRO | OTCQX: MLRKF) Website: www.millrockresources.com Corporate Presentation: https://www.millrockresources.com/investors/corporate-presentation
Rover Metals is raising a $1.5MM NBPP for winter drilling at the Bonanza Gold Grade “Arrow Zone”, Cabin Gold Project, NT, Canada. The book is at $550K. First closing next week.
The ice drill pads out over Cabin Lake have been built, and are ready to go. The Arrow Zone is the same Zone that Rover drilled 32m of 13.6 g/t Au (11th best drill hole of 2020 – all Canadian miners). We are now doing follow up drilling, down dip, at a depth of below 60m (under the lake). The use of proceeds also includes Phase 1 Exploration at our new Tobin Gold Project, NV, USA.
Eligible investors can download the NEW investor presentation here.
Vancouver, British Columbia–(Newsfile Corp. – February 24, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report it has signed an agreement with Agnico Eagle Mines Limited (TSX:AEM) for the sale of the Pima Property located in Sonora, Mexico, where Riverside will receive cash and completes the pass through royalty transfer with Millrock Resources Inc (TSV:MRO). The Pima Project is part of the Santa Teresa Gold Mining District which includes the Santa Gertrudis Gold Mine owned by Agnico Eagle.
The Pima mineral concession is located inside Agnico’s property tenure and south of the known mine operation. Acquiring the Pima project allows Agnico to consolidate another part of its property concession and provides cash to Riverside. As a reminder, this project was originally added to Riverside’s portfolio as part of the 2019 purchase of the Millrock’s set of 5 (five) assets that included the Cuarentas and La Union projects (see press release September 11, 2019). This current transaction with Agnico allows Riverside to recover the amount of the Millrock transaction with profit and pass on the royalty to Millrock who has been a positive partner with the Company in Mexico.
Riverside is now focusing on its 100% owned projects within its portfolio, including the Cuarentas Gold Project, which is located southeast of Agnico’s property and where drilling in 2021 discovered gold in intermediate sulfidation veins. Riverside plans to progress further work at the Cuarentas project in 2022.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4.5M 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
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
relmajian@rivres.com
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.
North Vancouver, British Columbia–(Newsfile Corp. – February 23, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is very pleased to announce additional results from its recently completed Phase 1 infill drill program on the Zone 2 portion of the Tuvatu high-grade alkaline Au deposit located on the island of Viti Levu in Fiji. The infill program began in June, 2021 and was completed last week with the termination of hole TUDDH576, bringing the total drilled to 7475.2m and total drill core resampled to 955.4m, for a program total of 8430.6m.
– 7475m of drilling completed in 42 holes and 955m of resampling of 28 historic drillholes as part of Phase 1 infill program
Top Intercepts from Latest Infill Drilling Include
77.11 g/t Au over 3.90m from 30.8-34.7m, inc. 162.22 g/t Au over 1.8m from TUDDH 571
12.56 g/t Au over 7.80m from 87.1-94.9m, inc. 54.43 g/t Au over 1.2m from TUDDH 572
16.08 g/t Au over 7.80m from 30.1-37.9m, inc. 62.22 g/t Au over 1.8m from TUDDH 573
15.10 g/t Au over 3.60m from 121.1-124.7m, inc. 95.06 g/t Au over 0.3m from TUDDH 575
Infill Drilling Program
The consistent bonanza-grade results from many of the drill holes that are part of the Phase 1 infill drill program continue to suggest higher-than-expected continuity of high-grade mineralization as well as higher absolute grades between modelled lodes (Figure 1, Table 1). Analysis of historic drill core material to eliminate sample gaps in areas where the current resource model lacked adequate data density has also yielded positive results, and in several instances, gold grades well above the resource average (Table 2). These factors should result in additional ounces in the portion of the deposit earmarked for earliest production. The re-modelling of Zone 2 lodes will begin as soon as all new data has been received and compiled and all holes have been properly surveyed.
The next (Phase 2) infill program planned for ~5000m of diamond drilling from surface and ~2500m of grade control diamond drilling from underground is aimed at upgrading the resource database in Zone 5 which is scheduled for production within the initial 3 years of operation. This second infill drill program began February 17, 2022 with drill hole TUDDH577, and is expected to require 5-6 months of drilling using three rigs (two from surface and one from underground) to complete.
Highlights from Latest Phase 1 Infill Drilling Results
TUDDH570
11.79 g/t Au over 0.9m from 155.2-156.1m,
30.28 g/t Au over 0.6m from 157.0-157.6m,
TUDDH571
162.22 g/t Au over 1.8m from 30.8-32.6m, which includes
179.0 g/t Au over 0.3m from 30.8-31.1, and
61.86 g/t Au over 0.3m from 31.1-31.4m, and
210.3 g/t Au over 0.3m from 31.4-31.7m, and
190.0 g/t Au over 0.3m from 31.7-32.0m, and
261.0 g/t Au over 0.3m from 32.0-32.3m, and
71.13 g/t Au over 0.3m from 32.3-32.6m, and including
16.96 g/t Au over 0.3m from 34.4-34.7m
TUDDH572
54.43 g/t Au over 1.2m from 87.1-88.3m, which includes
19.67 g/t Au over 0.3m from 87.1-87.4m, and also includes
196.0 g/t Au over 0.3m from 88.0-88.3m, and also includes
16.04 g/t Au over 1.5m from 89.8-91.3m, which includes
34.92 g/t Au over 0.6m from 89.8-90.4m
21.39 g/t Au over 0.3m from 105.1-105.4m, and
30.97 g/t au over 0.3m from 105.4-105.7m
TUDDH573
16.54 g/t Au over 0.9m from 27.5-28.4m, which includes
31.58 g/t Au over 0.3m from 27.8-28.1m
62.22 g/t Au over 1.8m from 35.5-37.3m, which includes
89.02 g/t Au over 0.3m from 35.5-35.8m, and
52.18 g/t Au over 0.3m from 35.8-36.1m, and
201.0 g/t Au over 0.3m from 36.1-36.4m
15.41 g/t Au over 0.3m from 269.9-270.2m
TUDDH574
21.11 g/t Au over 0.3m from 106.1-106.4m, and
33.74 g/t Au over 0.6m from 106.4-107.0m
TUDDH575
26.24 g/t Au over 0.3m from 110.0-110.3m
18.53 g/t Au over 1.80m from 119.6-121.4m, and
15.10 g/t Au over 3.60m from 121.1-124.7m, which include
95.06 g/t Au over 0.3m from 121.1-121.4m, and
55.71 g/t Au over 0.3m from 124.4-124.7m
Figure1: Schematic vertical section showing selected infill drilling, Tuvatu. Some of the drillholes shown are off section (e.g. TUDDH571 is N of section, and TUDDH 568 is S of section) and are projected onto the section for clarity.
To view an enhanced version of this graphic, please visit:
https://orders.newsfilecorp.com/files/2178/114492_f9f1259c345cc90f_001full.jpg
Table 1: Drilling Intervals >0.5 g/t Au Reported (intervals > 3.0 g/t Au cutoff and wider than 2.0m are bolded)
| Hole ID | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
| TUDDH-567 | 62.9 | 65.8 | 2.9 | 2.13 |
| including | 64.1 | 64.4 | 0.3 | 7.85 |
| 67.0 | 67.6 | 0.6 | 0.5 | |
| 69.4 | 70.0 | 0.6 | 1.49 | |
| 72.1 | 72.8 | 0.7 | 2.25 | |
| 78.3 | 78.6 | 0.3 | 0.76 | |
| 79.9 | 84.8 | 4.9 | 1.59 | |
| including | 83.5 | 83.8 | 0.3 | 5.03 |
| 88.1 | 92.2 | 4.1 | 0.89 | |
| 93.4 | 97.3 | 3.9 | 0.62 | |
| 103.1 | 103.7 | 0.6 | 1.13 | |
| 106.1 | 107.3 | 1.2 | 2.32 | |
| 110.0 | 112.5 | 2.5 | 6.09 | |
| including | 111.9 | 112.5 | 0.6 | 21.28 |
| 115.3 | 116.2 | 0.9 | 5.43 | |
| 136.1 | 137.3 | 1.2 | 2.87 | |
| TUDDH-568 | no significant results | |||
| TUDDH-569 | 58.3 | 59.2 | 0.9 | 6.12 |
| including | 58.8 | 59.2 | 0.4 | 8.9 |
| 78.4 | 78.7 | 0.3 | 1.78 | |
| 82.0 | 82.6 | 0.6 | 0.93 | |
| 93.1 | 93.7 | 0.6 | 6.79 | |
| 101.8 | 103.0 | 1.2 | 0.96 | |
| 105.4 | 106.9 | 1.5 | 0.82 | |
| 132.4 | 134.4 | 2.0 | 3.64 | |
| including | 133.6 | 134 | 0.4 | 15.78 |
| 155.9 | 156.3 | 0.4 | 1.32 | |
| TUDDH-570 | 33.5 | 35.2 | 1.7 | 1.71 |
| 39.7 | 40.4 | 0.7 | 12.78 | |
| 41.6 | 42.2 | 0.6 | 2.53 | |
| 46.0 | 49.9 | 3.9 | 1.41 | |
| 53.5 | 56.4 | 2.9 | 0.89 | |
| 60.3 | 60.9 | 0.6 | 0.95 | |
| 65.4 | 66.0 | 0.6 | 1 | |
| 72.7 | 73.3 | 0.6 | 3.51 | |
| 84.4 | 84.7 | 0.3 | 3.29 | |
| 88.1 | 90.5 | 2.4 | 0.72 | |
| 91.7 | 95.8 | 4.1 | 1.35 | |
| 99.3 | 99.6 | 0.3 | 0.68 | |
| 102.6 | 104.4 | 1.8 | 1.21 | |
| 107.0 | 114.7 | 7.7 | 4.09 | |
| including | 110.1 | 110.8 | 0.7 | 15.96 |
| including | 111.1 | 111.7 | 0.6 | 6.87 |
| also including | 113.8 | 114.7 | 0.9 | 6.26 |
| 115.9 | 117 | 1.1 | 3.41 | |
| 118.8 | 121.3 | 2.5 | 4.8 | |
| including | 118.8 | 119.1 | 0.8 | 13.17 |
| which also includes | 119.1 | 119.6 | 0.5 | 15.87 |
| 130.0 | 132.6 | 2.6 | 6.4 | |
| including | 130.0 | 130.9 | 0.9 | 9.3 |
| including | 132.1 | 132.6 | 0.5 | 16.13 |
| 135.6 | 136.5 | 0.9 | 0.86 | |
| 137.7 | 143.5 | 5.8 | 3.13 | |
| including | 142.0 | 142.3 | 0.3 | 39.36 |
| 147.5 | 149.3 | 1.8 | 0.77 | |
| 151.4 | 152.3 | 0.9 | 2.62 | |
| including | 151.4 | 151.7 | 0.3 | 5.54 |
| 154.0 | 157.6 | 3.6 | 8.99 | |
| including | 154.0 | 154.3 | 0.3 | 7.3 |
| and including | 155.2 | 156.1 | 0.9 | 11.79 |
| which also includes | 157.0 | 157.6 | 0.6 | 30.28 |
| 161.5 | 163.6 | 2.1 | 4.38 | |
| including | 161.5 | 162.1 | 0.6 | 7.49 |
| including | 162.7 | 163.0 | 0.3 | 9.59 |
| 165.1 | 166.3 | 1.2 | 1.44 | |
| TUDDH-571 | 30.8 | 34.7 | 3.9 | 77.11 |
| including | 30.8 | 32.6 | 1.8 | 162.22 |
| including | 30.8 | 31.1 | 0.3 | 179.0 |
| including | 31.1 | 31.4 | 0.3 | 61.86 |
| including | 31.4 | 31.7 | 0.3 | 210.3 |
| including | 31.7 | 32.0 | 0.3 | 190.0 |
| including | 32.0 | 32.3 | 0.3 | 261.0 |
| including | 32.3 | 32.6 | 0.3 | 71.13 |
| including | 34.4 | 34.7 | 0.3 | 16.96 |
| 75.5 | 76.1 | 0.6 | 0.64 | |
| TUDDH-572 | 29.8 | 30.4 | 0.6 | 0.85 |
| 35.5 | 36.1 | 0.6 | 5.1 | |
| 37.3 | 42.4 | 5.1 | 0.58 | |
| 44.2 | 47.2 | 3 | 4.94 | |
| including | 44.2 | 45.4 | 1.2 | 8.04 |
| which includes | 44.2 | 44.5 | 0.3 | 20.4 |
| 48.4 | 49.6 | 1.2 | 0.61 | |
| 63.4 | 63.7 | 0.3 | 2.75 | |
| 66.1 | 67.3 | 1.2 | 0.55 | |
| 73.6 | 75.4 | 1.8 | 1.13 | |
| 82.6 | 83.2 | 0.6 | 5.66 | |
| including | 82.6 | 82.9 | 0.3 | 7.85 |
| 85.0 | 85.3 | 0.3 | 6.78 | |
| 87.1 | 94.9 | 7.8 | 12.56 | |
| including | 87.1 | 88.3 | 1.2 | 54.43 |
| which includes | 87.1 | 87.4 | 0.3 | 19.67 |
| and | 88.0 | 88.3 | 0.3 | 196.0 |
| and also includes | 89.8 | 91.3 | 1.5 | 16.04 |
| which includes | 89.8 | 90.4 | 0.6 | 34.92 |
| 103.3 | 106.6 | 3.3 | 5.86 | |
| including | 105.1 | 105.7 | 0.6 | 26.18 |
| which includes | 105.1 | 105.4 | 0.3 | 21.39 |
| and includes | 105.4 | 105.7 | 0.3 | 30.97 |
| 121.9 | 122.2 | 0.3 | 0.51 | |
| 128.2 | 128.5 | 0.3 | 0.5 | |
| TUDDH-573 | 7.4 | 8.3 | 0.9 | 0.7 |
| 10.2 | 10.5 | 0.3 | 2.44 | |
| 12.6 | 16.55 | 3.95 | 0.62 | |
| 23.0 | 23.3 | 0.3 | 0.52 | |
| 27.5 | 29.1 | 1.6 | 9.98 | |
| including | 27.5 | 28.4 | 0.9 | 16.54 |
| which also includes | 27.8 | 28.1 | 0.3 | 31.58 |
| 30.1 | 37.9 | 7.8 | 16.08 | |
| including | 35.5 | 37.3 | 1.8 | 62.22 |
| including | 35.5 | 35.8 | 0.3 | 89.02 |
| including | 35.8 | 36.1 | 0.3 | 52.18 |
| which also includes | 36.1 | 36.4 | 0.3 | 201.0 |
| 41.5 | 43.0 | 1.5 | 5.05 | |
| including | 41.5 | 41.8 | 0.3 | 8.86 |
| 51.7 | 52 | 0.3 | 2.14 | |
| 58.7 | 59.9 | 1.2 | 1.62 | |
| 185.3 | 185.6 | 0.3 | 6.68 | |
| 205.4 | 206.9 | 1.5 | 4.06 | |
| including | 206.6 | 206.9 | 0.3 | 9.2 |
| 216.5 | 217.4 | 0.9 | 0.8 | |
| 225.5 | 225.8 | 0.3 | 6.34 | |
| 249.0 | 249.3 | 0.3 | 2.06 | |
| 269.9 | 271.7 | 1.8 | 4.23 | |
| including | 269.9 | 270.5 | 0.6 | 10.7 |
| which includes | 269.9 | 270.2 | 0.3 | 15.41 |
| TUDDH-574 | 23.3 | 24.2 | 0.9 | 0.58 |
| 41.0 | 43.7 | 2.7 | 1.66 | |
| 49.1 | 50.6 | 1.5 | 2.62 | |
| 59.3 | 59.6 | 0.3 | 1.33 | |
| 70.1 | 71.3 | 1.2 | 2.78 | |
| 81.2 | 81.5 | 0.3 | 11.19 | |
| 92.9 | 93.2 | 0.3 | 3.69 | |
| 106.1 | 107.0 | 0.9 | 29.53 | |
| including | 106.1 | 106.4 | 0.3 | 21.11 |
| and | 106.4 | 107.0 | 0.6 | 33.74 |
| TUDDH-575 | 32.3 | 32.6 | 0.3 | 0.66 |
| 33.8 | 34.1 | 0.3 | 0.76 | |
| 41.9 | 44.3 | 2.4 | 1.29 | |
| including | 41.9 | 42.2 | 0.3 | 4.74 |
| and | 42.5 | 43.1 | 0.6 | 0.56 |
| and | 43.4 | 43.7 | 0.3 | 0.62 |
| and | 44.0 | 44.3 | 0.3 | 0.75 |
| 46.4 | 47.0 | 0.6 | 0.68 | |
| 48.2 | 48.5 | 0.3 | 0.55 | |
| 66.5 | 67.1 | 0.6 | 0.53 | |
| 77.0 | 79.1 | 2.1 | 2.18 | |
| including | 77.0 | 77.3 | 0.3 | 0.57 |
| and | 77.3 | 77.6 | 0.3 | 12.07 |
| 78.5 | 78.8 | 0.3 | 1.00 | |
| 78.8 | 79.1 | 0.3 | 0.83 | |
| 83.6 | 83.9 | 0.3 | 3.30 | |
| 85.1 | 86.3 | 1.2 | 1.63 | |
| 90.2 | 90.5 | 0.3 | 1.19 | |
| 99.2 | 99.8 | 0.6 | 0.79 | |
| 106.1 | 107.0 | 0.9 | 3.42 | |
| including | 106.1 | 106.4 | 0.3 | 4.08 |
| and | 106.4 | 106.7 | 0.3 | 1.93 |
| and | 106.7 | 107.0 | 0.3 | 4.24 |
| 109.1 | 110.3 | 1.2 | 8.39 | |
| including | 109.1 | 109.4 | 0.3 | 0.54 |
| and | 109.4 | 109.7 | 0.3 | 0.79 |
| and | 109.7 | 110.0 | 0.3 | 5.97 |
| and | 110.0 | 110.3 | 0.3 | 26.24 |
| 114.2 | 124.7 | 10.5 | 5.98 | |
| including | 114.2 | 114.5 | 0.3 | 1.32 |
| and | 115.4 | 115.7 | 0.3 | 4.35 |
| and | 116.0 | 116.3 | 0.3 | 0.50 |
| and | 117.2 | 117.5 | 0.3 | 1.08 |
| and | 117.5 | 117.8 | 0.3 | 3.30 |
| and | 118.7 | 119.0 | 0.3 | 0.52 |
| and | 119.6 | 121.4 | 1.8 | 18.53 |
| which includes | 119.6 | 119.9 | 0.3 | 6.94 |
| and includes | 119.9 | 120.2 | 0.3 | 4.59 |
| and includes | 120.2 | 120.5 | 0.3 | 4.45 |
| and includes | 121.1 | 121.4 | 0.3 | 95.06 |
| or | 121.1 | 124.7 | 3.6 | 15.1 |
| which includes | 121.1 | 121.4 | 0.3 | 95.06 |
| and includes | 121.7 | 122.0 | 0.3 | 0.57 |
| and includes | 122.0 | 123.2 | 1.2 | 2.77 |
| and includes | 123.2 | 123.5 | 0.3 | 3.05 |
| and includes | 123.5 | 123.8 | 0.3 | 0.73 |
| and includes | 123.8 | 124.4 | 0.6 | 7.47 |
| and includes | 124.4 | 124.7 | 0.3 | 55.71 |
| 129.5 | 131.3 | 1.8 | 1.21 | |
| including | 129.5 | 130.1 | 0.6 | 2.81 |
| and | 131.0 | 131.3 | 0.3 | 0.67 |
| 132.5 | 132.8 | 0.3 | 4.97 | |
| 135.5 | 135.8 | 0.3 | 0.93 | |
| 137.6 | 137.9 | 0.3 | 1.41 | |
| 143.3 | 144.5 | 1.2 | 1.59 | |
| including | 143.3 | 143.6 | 0.3 | 1.05 |
| and | 143.6 | 144.2 | 0.6 | 1.97 |
| and | 144.2 | 144.5 | 0.3 | 1.35 |
| 162.2 | 162.5 | 0.3 | 1.45 | |
| TUDDH-576 | 22.9 | 23.5 | 0.6 | 1.49 |
| 25.0 | 25.6 | 0.6 | 0.63 | |
| 29.2 | 29.5 | 0.3 | 1.1 | |
| 36.7 | 38.5 | 1.8 | 8.25 | |
| including | 36.7 | 37.0 | 0.3 | 2.60 |
| and | 37.0 | 37.6 | 0.6 | 0.56 |
| and | 37.6 | 38.5 | 0.9 | 15.26 |
| 39.7 | 40.0 | 0.3 | 0.57 | |
| 43.0 | 44.2 | 1.2 | 0.77 | |
| including | 43.0 | 43.6 | 0.6 | 0.55 |
| and | 43.6 | 44.2 | 0.6 | 0.98 |
Table 2: Summary of results from selected sample gap intervals from historic drill core
| Hole ID | From (m) | To (m) | Interval (m) | Grade (g/t Au) |
| TUDDH-212 | 448.1 | 448.4 | 0.30 | 1.25 |
| TUDDH-225 | 52.70 | 53.35 | 0.35 | 14.10 |
| 54.25 | 54.85 | 0.60 | 1.06 | |
| 89.0 | 89.6 | 0.60 | 0.71 | |
| 91.1 | 92.0 | 0.90 | 10.98 | |
| 94.3 | 94.6 | 0.30 | 3.22 | |
| 102.0 | 103.4 | 1.40 | 0.68 | |
| TUDDH-356 | 60.05 | 60.35 | 0.30 | 0.61 |
| 72.2 | 72.5 | 0.30 | 4.21 | |
| 77.6 | 77.9 | 0.30 | 0.53 | |
| 81.5 | 82.26 | 0.76 | 1.81 | |
| TUDDH-362 | 84.81 | 85.11 | 0.30 | 0.56 |
| 85.41 | 85.71 | 0.30 | 0.69 | |
| 85.71 | 86.01 | 0.30 | 1.47 | |
| 86.31 | 86.61 | 0.30 | 74.58 | |
| 86.91 | 87.4 | 0.49 | 0.53 | |
| TUDDH-408 | 43.23 | 43.74 | 0.51 | 0.54 |
| 44.65 | 45.25 | 0.60 | 1.28 | |
| 79.27 | 79.87 | 0.60 | 2.21 | |
| 79.87 | 80.47 | 0.60 | 1.80 | |
| TUDDH-410 | 73.2 | 73.8 | 0.60 | 3.38 |
| 118.2 | 118.8 | 0.60 | 1.81 | |
| TUDDH-525 | 466.6 | 466.9 | 0.30 | 0.95 |
| TUDDH-539 | 131.1 | 131.7 | 0.60 | 6.88 |
| TUDDH-540 | 62.93 | 63.23 | 0.30 | 4.22 |
| 64.6 | 64.9 | 0.30 | 0.61 | |
| 64.9 | 65.2 | 0.30 | 3.87 | |
| 69.8 | 70.4 | 0.60 | 2.20 | |
| 77.3 | 77.6 | 0.30 | 0.97 | |
| 90.7 | 91.0 | 0.30 | 4.11 |
Table 3: Survey details of diamond drill holes referenced in this release
| Hole No | Coordinates (Fiji map grid) | RL | final depth | dip | azimuth | |
| N | E | m | (TN) | |||
| TUDDH567 | 3920779 | 1876395 | 219.9 | 183.8 | -40 | 255 |
| TUDDH568 | 3920686 | 1876364 | 255.1 | 112.9 | -75 | 258 |
| TUDDH569 | 3920779 | 1876396 | 219.9 | 191.7 | -69 | 252 |
| TUDDH570 | 3920780 | 1876396 | 220.0 | 233.3 | -44 | 270 |
| TUDDH571 | 3920932 | 1876510 | 236.1 | 847.6 | -62 | 147 |
| TUDDH572 | 3920779 | 1876396 | 219.9 | 203.5 | -60 | 270 |
| TUDDH573 | 3920796 | 1876351 | 209.7 | 779.2 | -66 | 131 |
| TUDDH574 | 3920779 | 1876396 | 219.9 | 182.6 | -70 | 270 |
| TUDDH575 | 3920779 | 1876396 | 219.9 | 164.3 | -47 | 285 |
| TUDDH576 | 3920779 | 1876396 | 219.9 | 200.5 | -60 | 285 |
| TUDDH577 | 3920435 | 1876513 | 348.0 | in progress | -40 | 270 |
| TUDDH-212 | 3920664 | 1876757 | 281.3 | 600.5 | -58 | 245 |
| TUDDH-225 | 3920737 | 1876336 | 222.8 | 300.3 | -60 | 330 |
| TUDDH-356 | 3920760 | 1876260 | 205.5 | 112.9 | -61 | 010 |
| TUDDH-362 | 3920775 | 1876303 | 219.6 | 132.0 | -65 | 360 |
| TUDDH-408 | 3920767 | 1876337 | 225.0 | 140.6 | -70 | 330 |
| TUDDH-410 | 3920731 | 1876309 | 228.9 | 143.6 | -65 | 340 |
| TUDDH-525 | 3920796 | 1876351 | 209.4 | 350.6 | -57 | 123 |
| TUDDH-539 | 3920733 | 1876297 | 225.1 | 186.2 | -72 | 004 |
| TUDDH-540 | 3920733 | 1876297 | 225.1 | 168.2 | -60 | 001 |
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared, and approved by Mr. Sergio Cattalani, P. Geo, who is a qualified person pursuant to National Instrument 43-101 – Standards of disclosure for Mineral Projects (“NI-43-101).
About Tuvatu
The Tuvatu gold deposit is located on the island of Viti Levu in the South Pacific island nation of Fiji. The mineral resource for Tuvatu as disclosed in the technical report “Tuvatu Gold Project PEA”, dated June 1, 2015, and prepared by Mining Associates Pty Ltd of Brisbane Qld, and subsequently updated in January 2018 as disclosed in the technical report and PEA by Tetra Tech “Technical Report and Preliminary Economic Assessment Update for the Tuvatu Gold Project, The Republic of Fiji” dated September 2020, comprises 1,007,000 tonnes Indicated at 8.48 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.
About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa caldera, an underexplored yet highly prospective 7km diameter volcanic edifice of alkaline affinity. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO
For further information
Contact Investor Relations
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This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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