Proven ProbableCategory: Precious Metals
Vancouver, British Columbia–(Newsfile Corp. – November 12, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to report results for the quarter ended September 30, 2021 (“Q3-2021”). The Company’s filings for Q3-2021 are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission’s website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.
HIGHLIGHTS FOR Q3-2021
Significant Acquisitions
- EMX closed the acquisition of a portfolio of royalty interests and deferred payments from SSR Mining Inc. and certain of its subsidiaries (“SSR Mining“) (see EMX news release dated October 21, 2021). The Portfolio consists of 16 geographically diverse base and precious metals royalties, with four royalty assets at advanced stages of project development, and also includes US $18 million in future cash payments. EMX has paid US $33 million in cash and issued 12,323,048 common shares of the Company valued at US $32.5 million to SSR Mining. SSR Mining now owns an approximate 12% undiluted equity interest in EMX. EMX will also make deferred and contingent payments to SSR Mining of up to US $34 million if certain project advancement milestones are achieved.
- EMX completed the acquisition of an effective 0.418% NSR royalty on the Caserones Copper-Molybdenum Mine located in northern Chile for US$34.1 million in cash (see EMX news release dated September 3, 2021). Caserones is a significant porphyry copper-molybdenum mining operation in a top tier mining jurisdiction. The Caserones acquisition brings immediate cashflow to EMX’s portfolio. Through the quarter end, EMX has realized an initial payment of US $951,000 from the second quarter (i.e., April – June) royalty distributions.
Financial Update
Dollar amounts are in CDN unless otherwise noted.
- As at September 30, 2021, EMX ended the quarter with a working capital balance of $13,889,000 including cash and cash equivalents of $46,735,000, investments, strategic investments, and receivables and loan receivables totaling $27,034,000, and debt of $54,134,000.
- To facilitate the Caserones and SSR royalty acquisitions, as well as to supplement working capital, the Company has entered into three financing transactions including a US$44,000,000 credit facility with Sprott Private Resource Lending II (Collector), LP, a Vendor-take-back note of US$7.85 million with SSR Mining, and the closing of the first tranche of a private placement for gross proceeds of $20,913,000.
- For the three months ended September 30, 2021, EMX had revenue and other income of $1,504,000. EMX also received or accrued from its effective royalty interest on the Caserones mine its first quarterly payment of approximately US$950,000.
- Royalty generation costs for the three months ended September 30, 2021 totaled $3,882,000 including share-based compensation of $45,000, of which the Company recovered $1,792,000 from partners.
- General and administrative expenses totaled $1,807,000. The increase from Q3-2020 is largely the result of increased due diligence costs related to the Caserones acquisition and other prospective royalty assets.
- For the three months ended September 30, 2021, the Company had a net loss from operations of $10,866,000. In addition to operating items noted above, included in net loss from operations was $759,000 in depletion, depreciation, and direct royalty taxes, and $1,206,000 in share-based compensation. Other items affecting net loss in Q3-2021 include a gain from the Company’s investments in associated entities of $1,138,000 primarily related to its effective royalty interest in the Caserones mine, a fair value loss on investments of $3,731,000, and a foreign exchange gain of $1,301,000. The Company also recorded impairment charges of $4,178,000 including $4,022,000 related to its investment in Rawhide Acquisition Holding LLC (“RAH” or “Rawhide”). The foreign exchange gain was primarily related to the Company holding cash and net assets denominated in US.
Operational Update
EMX’s royalty and mineral property portfolio totals over 280 projects on five continents. The following summarizes the work conducted in Q3-2021, as well as subsequent events, by the Company and its partners.
- In North America, EMX received provisional payments of approximately US$641,000 from the sale of 364 gold ounces produced at the Leeville royalty property in Nevada’s Northern Carlin Trend. Leeville’s Q3 performance ensures that 2021 will be a year of increased payments due to robust production contributions from Carlin East and Four Corners. On the royalty generation front, EMX continued to evaluate and add new gold and copper projects to the portfolio by staking open ground. Partner companies continued to build value in the portfolio with their summer field exploration programs. In particular, partner Ridgeline Minerals’ successes at Swift resulted in the Carlin-type gold project being optioned to Nevada Gold Mines. Ridgeline also reported additional encouraging drill results from the Selena sediment-hosted silver-gold project.
EMX’s royalty and mineral asset portfolio in key mining districts of Ontario and Quebec, including the Red Lake camp, generated $75,000 in cash and fair value equity payments. EMX’s initiatives in Canada included staking prospective open ground, as well as expanding land positions at several existing properties. - In Serbia, Timok operator Zijin Mining Group Co. Ltd. (“Zijin”) received the final operating licenses and is in the trial production stage at the Upper Zone copper-gold project, which is covered by an EMX 0.5% NSR royalty. The Company filed an amended and restated Technical Report titled “NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia” on SEDAR dated July 21, 2021 authored by Mineral Resource Management LLC.
- In Fennoscandia, EMX executed an agreement for the sale of its Svärdsjö polymetallic project in Sweden to District Metals Corp. (TSX-V: DMX) for share equity, AAR payments, and retained royalty interests to EMX’s benefit. Subsequently EMX executed an option agreement for the sale of five battery metals projects in Sweden to Swedish Nickel Pty. Ltd. for share equity, AAR payments, retained royalty interests in the projects, work commitments and other consideration. As these six new deals were completed, partner companies continued to advance EMX’s royalty properties, which included further encouraging results from District’s drill program at the Tomtebo polymetallic project in Sweden’s Bergslagen mining district.
- In Australia, the Company was granted the Copperhole Creek exploration license in the Georgetown Region of North Queensland. The Copperhole Creek project is available for partnership.
Corporate Update
EMX is monitoring developments regarding the ongoing coronavirus pandemic (“COVID-19”), with a focus on the jurisdictions in which the Company operates. EMX has implemented COVID-19 prevention, monitoring and response plans following the guidelines of international agencies and the governments and regulatory agencies of each country in which it operates. EMX’s priority is to safeguard the health and safety of its personnel and host communities, support government actions to slow the spread of COVID-19, and assess and mitigate the risks to business continuity. Although various levels of restrictions remain in place for some jurisdictions where the Company operates (e.g., travel restrictions, etc.), EMX’s field programs are up-and-running with in-country based staff.
Outlook
With the closing of the SSR and Caserones acquisitions, EMX continues to significantly strengthen its global portfolio of royalties. Gediktepe is one of several EMX royalty properties that are expected to commence production during late Q4, 2021 and early 2022. The others include the Timok development project in Serbia, where the Cukaru Peki high grade copper-gold deposit is being put into production by Zijin Mining Group Co. Ltd., and Balya North, a polymetallic Carbonate Replacement Deposit (“CRD”) in western Turkey being developed by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş., a private Turkish company.
EMX’s Leeville royalty in Nevada has delivered increased cash flows in recent months, with royalty production proceeds now being received from the Four Corners and Carlin East mining areas in addition to other areas on the royalty property. Together with cash flow already being received from its recently purchased Caserones copper-molybdenum royalty in Chile, EMX anticipates a significant increase in royalty revenue in 2022 from multiple assets that span four continents. See the EMX website (www.EMXroyalty.com) for further project and portfolio details.
The SSR royalty portfolio acquisition is an example of EMX’s corporate growth strategy, whereby the Company leveraged its in-region expertise to identify opportunities in jurisdictions where EMX already has a strategic presence, and hence a competitive advantage. This approach leads to value creation for the Company as well as synergies with existing EMX initiatives around the world. The Company is continuing with its assessments of royalty acquisition opportunities to continue growing the portfolio.
Meanwhile the Company’s royalty generation initiatives continued moving forward during Q3, which provided deal flow momentum moving into Q4. EMX partnered six projects in Fennoscandia for retained royalty interests, cash payments, and equity interests while continuing with field programs to add new projects to the royalty generation portfolio. In Australia, despite the challenges of COVID-19 lockdowns, the Company was successful in its efforts to add the Copperhole Creek project to the royalty generation portfolio. In the southwestern U.S., Regional Strategic Alliance (“RSA”) generative funds from South32 paid for identifying new copper properties for potential acquisitions. Elsewhere, multiple new precious-metals projects were staked by the Company in Idaho and Nevada which are now available for partnership. EMX is steadily building its generative portfolio in key mineral belts of the western U.S. and is now the third largest holder of mineral rights in Arizona and the second largest in Idaho. Fennoscandia, Australia, and the U.S. are stable exploration and mining jurisdictions, and EMX’s royalty generation assets provide prime opportunities for new partnerships.
EMX’s established partner companies continue to add value to the portfolio with encouraging drill results and other important advancements. In Fennoscandia, most notable were District’s drill success at Tomtebo (Norway) and further expansion of PGE-Ni-Cu mineralized zones at the Kaukua South project by Palladium One. In the western U.S. advancements included Ridgeline Minerals’ encouraging drill results from the Selena precious metals project on the Carlin Trend, and a joint venture agreement with Nevada Gold Mines for the Cortez Trend’s Swift gold project. EMX’s partners continued creating value on these assets, as well as others, at no cost to the Company. This trend of ongoing partner funded work expenditures is expected to carry forward, if not increase, going into Q4.
The Company will continue to strengthen its balance sheet through increased cashflows from royalties, deferred royalty payments, sale of investments, and other income. As part of this effort to strengthen working capital, in November 2021, the Company completed the first tranche of a $21.45 million private placement by the issuance of 6,337,347 units at $3.30 each for gross proceeds of $20.9 million. Increases to EMX’s treasury will allow it to continue project generation and royalty acquisition activities, thereby further building shareholder value (See Liquidity and Capital discussions below).
QUALIFIED PERSONS
Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure on North America. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified, and approved the above technical disclosure on Significant Acquisitions, Serbia, Fennoscandia, and Australia.
ABOUT EMX
EMX is a precious, base, and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol 6E9. See www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-666
Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com
Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
IBelger@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2021 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
VANCOUVER, BC, Nov. 9, 2021 /PRNewswire/ – Dolly Varden Silver Corporation (“Dolly Varden” or the “Company“) (TSXV: DV) (OTC: DOLLF), is pleased to announce that Andrew Hamilton, P.Geo. has joined the Company as Senior Geologist.
Mr. Hamilton is an exploration geologist with over 30 years of mineral exploration experience, primarily in British Columbia, Nunavut, the Yukon and Mexico, with a focus on gold and copper-gold projects. He brings additional grass roots to advanced stage mineral exploration experience to Dolly Varden with a focus on drill program design and management, mineral resource modelling and estimation, QAQC and data management.
Andrew has been part of technical teams of multiple successful explorers that have transitioned from exploration to production as well as company sale, including Wheaton River Minerals’ Golden Bear Mine, Cumberland Resources’ Meadowbank Project and IDM Mining’s Red Mountain Project. He was mostly recently the Exploration Manager for White Gold Corp. for their Yukon projects.
As an Independent Qualified Person, he has co-authored numerous NI 43-101 Reports and Resource Estimates, as well as audits and reviews of producing Companies Mineral Resources and Reserves and QA/QC. Mr. Hamilton has been lauded in the mining industry for his conservative and balanced approach.
Shawn Khunkhun, Dolly Varden’s CEO, commented: “I am pleased to welcome Andrew to Dolly Varden. His advanced exploration experience in the Golden Triangle, expertise in the design of drill programs for resource delineation and expansion, as well as critical project evaluation skills will complement our current technical team and benefit the Company as we look to dramatically grow in the next two years.”
Mr. Hamilton holds a Bachelor of Science degree in geological sciences from the University of British Columbia and a Bachelor of Arts degree in anthropology from the University of Victoria. He is a registered professional geoscientist (P.Geo.) in the province of British Columbia.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on exploration in northwestern British Columbia. Dolly Varden has two projects, the namesake Dolly Varden silver property and the nearby Big Bulk copper-gold property. The Dolly Varden property is considered to be highly prospective for hosting high-grade precious metal deposits, since it comprises the same structural and stratigraphic setting that host numerous other high-grade deposits (Eskay Creek, Brucejack). The Big Bulk property 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 relates to, among other things, completion of the Offering, 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, the planning for further exploration work, the ability to de-risk the potential exploration targets, and our beliefs about the unexplored portion of the property. These forward-looking statements are based on management’s current expectations and beliefs 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”), which is available on SEDAR at www.sedar.com. The risk factors identified in the MD&A 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.
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SOURCE Dolly Varden Silver Corp.
Figure 1. Project location map.
Figure 1. Project location map.
Figure 2. Prospect Location Map
Figure 2. Prospect Location Map
VANCOUVER, British Columbia, Nov. 08, 2021 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to announce it has signed a binding letter agreement (“Letter Agreement”) with Mine Discovery Fund Pty. Ltd. (“MDF”) concerning its El Batamote porphyry copper exploration project in Mexico. MDF is a private Australian company. In good faith, MDF has made an initial US$50,000 cash payment upon signing the Letter Agreement. A definitive agreement (“Definitive Agreement”) has been prepared will be signed immediately following the formation of a Mexico subsidiary company by MDF. MDF has placed Batamote into a wholly-owned subsidiary company called Latin America Copper Limited(“LatCopper”) along with other assets in Chile. MDF indicates it has commenced compliance documentation for a potential ASX or TSX listing in the first half of 2022.
Millrock President and CEO Gregory Beischer commented: “Batamote has excellent potential to discover a porphyry copper deposit. We know already that breccia-style and porphyry copper mineralization is present. We are particularly excited to drill-test beneath what appears to be a leach cap alteration zone at a prospect called El Choclo NW. The project is situated within a belt that has produced very large porphyry copper deposits being mined by others as evidenced by the Cananea and La Caridad mines.”
Latin American Copper Director Joseph Webb commented: “With the addition of El Batamote, LatCopper has three exceptional cornerstone exploration assets with evidence of Tier 1 scale potential in the globally significant copper belts of Latin America. El Batamote is 25 kilometers northwest of Grupo Mexico’s La Caridad copper mine (5.98 billion tonnes at 0.34% copper equivalent) with an untested leach cap identified along strike from known mineralisation. This indicates potential for supergene mineralisation at Choclo. The Bata Sur definitive mineralised porphyry system intersected by historic drilling remains open along strike.”
Under the terms of the Definitive Agreement, LatCopper will have the option to purchase a 100% interest in the concessions that underlie the Batamote copper project. To earn the interest, LatCopper will have to make cash payments totalling US$1,000,000 over five years, execute US$6,000,000 dollars in exploration work, and pay Millrock US$250,000 in shares when LatCopper becomes a publicly listed company. In the event that LatCopper exercises the option to purchase the Batamote project, annual advanced minimum royalty (“AMR”) payments will be triggered. The first payment will be US$50,000 and the payment will increase by US$50,000 each year until a cap of US$500,000 is reached. Annual payments will then remain at the capped level until a mine reaches commercial production. At that point, a Net Smelter Return production royalty of 1.0% will be triggered. Any AMR payments made by LatCopper can be credited against production royalty payments.
About the El Batamote Project
The project is located 100 kilometers south of the Sonora – Arizona border and 140 kilometers north of the mining hub of Hermosillo in northeastern Sonora State, Mexico. The project is fully accessible by road and covers nearly 4,000 hectares. Millrock previously purchased the concessions and historical exploration data from a subsidiary of Teck Resources Ltd., as announced by Millrock in a November 2015 press release. The project is situated within the Cananea-La Caridad Copper Porphyry belt (Figure 1). This district-scale structural trend is situated within the larger North American porphyry copper province containing over 20 copper-molybdenum deposits and mines in Arizona, New Mexico, and Sonora.
Figure 1. Project location map is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/639437fc-1d2c-4f6a-9a1c-b6e6ac47e702.
El Batamote contains alteration and geochemistry characteristics of a Cu-Mo porphyry system. Important historical work has been conducted on the property by large companies such as Phelps Dodge, BHP, Noranda, Peñoles, and Teck. Abundant information was generated by prior workings in the south and central part of the claim block and includes regional and semi-detail mapping, geochemistry, petrography, spectrometry, geophysics and drilling with more than 10,000 meters of diamond core having been drilled.
The exploration led to the discovery of several key prospects: Bata Sur, El Choclo NW and El Choclo West (Figure 2). Review of the historic data has led Millrock geologists to make new exploration observations, conclusions, and recommendations. Preliminary plans include geophysical surveys at El Choclo NW, where a possible leach cap is situated adjacent to known porphyry mineralization. No drilling has been done beneath the alteration zone. At the Bata Sur prospect, breccia pipe style mineralization has been intersected by prior drilling. Drilling is recommended to test for higher grade and to test previously untested geochemical anomalies. Millrock has drilling permits in hand.
Figure 2. Prospect Location Map is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b48bb9da-f767-4ecf-af5b-4b76c395f052.
The lithology and alteration at Batamote are similar to that found at the La Caridad and Cananea mines. The mining concession covers Late Cretaceous Laramide age intermediate composition volcanic sequences which are intruded by a large, multi-phase batholith with multiple, mineralized porphyry pulses along a northwest-trending structural corridor. Porphyry dikes cut the system and are followed by later, mid-Tertiary post-mineral tuffaceous rocks, all of which are cut by long-lived northeast-trending and north-south fault structures. Intermediate volcanic rocks are the main host to copper mineralization. These rocks contain strong hydrothermal alteration related to porphyry-type systems in a three-kilometer by six-kilometer area that on the west side, is truncated by north-west to north-south trending post-mineral faults. Quaternary gravels cover bedrock west of these faults, but porphyry mineralization may be concealed below as potentially indicated by geophysical surveys at Choclo W.
Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold, Tocvan, and now Mine Discovery Fund.
About Mine Discovery Fund
Mine Discovery Fund (MDF) is a private investment vehicle backed by some of the industry’s leading technical advisors and professional mining investors. MDF focus is on Tier 1 orebody discovery in the jurisdictions that provide the highest probability of exploration success (in the most fertile Tier 1 Belts and in areas with clear pathways for development potential.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to mount further exploration including drilling in 2021 and 2022, and the intention to enter a definitive agreement with Mine Discovery Fund. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
Vancouver, British Columbia–(Newsfile Corp. – November 8, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“) is pleased to announce that it has completed the first tranche of its C$ 21.45 million private placement of 6.5 million units by the issuance of 6,337,347 units at C$ 3.30 each for gross proceeds of C$ 20,913,245. The units consisted of one common share of the Company and one-half of one transferable warrant. Each whole warrant entitles the purchase until November 6, 2023 of one common share at C$ 4.00 in the first year and C$ 4.50 in the second year.
EMX paid a 6.0% cash commission and issued that number of non-transferable compensation warrants equal to 6.0% of the number of units sold to investors introduced by the following eligible finders: Sprott Global Resource Investments, Ltd. (C$ 257,505 and 78,032 compensation warrants), Sprott Capital Partners LP (C$ 38,313 and 11,610 compensation warrants), Canaccord Genuity Corp. (C$ 119,295 and 36,150 compensation warrants), Haywood Securities Inc. (C$ 41,877 and 12,690 compensation warrants) and Richardson Wealth Ltd. (C$ 1,980 and 600 compensation warrants). Each compensation warrant entitles the purchase until November 7, 2022 of one common share of the Company for C$ 3.50.
The shares issued and issuable upon the exercise of warrants in the first tranche are subject to a four month restricted resale (hold) period expiring on March 6, 2022.
All of EMX’s directors, as well as certain officers, purchased units in the first tranche. Each of their subscriptions constituted a ‘related party transaction’ under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. There was not sufficient time between such subscriptions and the closing of the first tranchefor the Company to file a material change report disclosing such related party transactions with the applicable Canadian Securities Administrators not less than 21 days before the closing. Each of such related party transactions was exempt from the disinterested shareholder approval and valuation requirements of MI 61-101 as the fair market value of each of their subscriptions was less than 25% of the Company’s market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any U.S. state securities laws and may not be offered or sold within the “United States” or to “U.S. Persons” (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable U.S. state securities laws, or an exemption from such registration is available.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com
Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
igure 1
Locality map for Novo’s Egina project in the Pilbara region of Western Australia.
Figure 2
Novo tenure (green) in the northern Egina project showing interpreted intrusive targets (red polygons) generated from aeromagnetic data (greyscale 1VD northern Pilbara mosaic). De Grey tenure in yellow.
Figure 3
Significant and coherent As-in-soils anomaly (>2km total strike length) in the northern part of E47/3673 with historical RAB drilling.
HIGHLIGHTS
- Novo has identified multiple discrete untested aeromagnetic anomalies with magnetic characteristics comparable to the “Hemi-style” gold-bearing sanukitoid intrusions being developed by De Grey Mining Ltd. (“De Grey”) (ASX: DEG).
- Novo’s extensive Pilbara land package includes 216 km2 of highly prospective yet under-explored Mallina Basin geology across a significant NE trending mineralized corridor potentially extending to De Grey’s Hemi gold discovery (Figure 1).
- Review of historical exploration has defined two large (> 1 km strike) coincident high-order Au-As-Sb soil anomalies along the structural corridor in the vicinity of the Becher epithermal system.
- Reconnaissance drilling undertaken by another issuer in 1997 (20 x 200 m) within the Au-As-Sb anomalous zones intersected up to 4.38 g/t Au. This information has not been verified by Novo and is not necessarily representative of mineralization throughout the Egina project.
- Exploration planned for early 2022 includes high-resolution aeromagnetics, regolith and basement mapping, grid soil sampling and drilling to test these priority targets.
Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/54d57cee-80e2-4930-b584-df87b4dd99e8
VANCOUVER, British Columbia, Nov. 04, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to announce that it has identified a series of new targets in the northern sector of the Egina project centred on exploration licence 47/3673 (Figure 2). These newly identified targets are located within a broad NE-trending structural corridor which forms part of a network of shear zones and sanukitoid intrusive centres that host De Grey’s recent Hemi discovery1. Hemi is one of Australia’s recent major gold discoveries, hidden under 20 to 30 m of transported cover.
The new targets include multiple discrete magnetic targets identified from detailed aeromagnetic interpretation, interpreted to represent potential intrusive bodies under cover, and extensive Au-As-Sb soil anomalies in the vicinity of the epithermal vein system at Becher.
Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/af5d3d06-2ab9-4d90-9b95-68ca257c4026
Exploration licence 47/3673 has few outcrops (approximately 10% of the tenement contains outcrop and subcrop) and is essentially covered by colluvial and alluvial material, calcrete and several ridges of aeolian sand dunes. The large (> 1 km long) coincident Au-As-Sb soil geochemical anomalies are restricted to areas of weathered outcrop and subcrop only, and thus the bedrock targets remain open under transported cover for several kilometres to the WSW and ENE.
Previous reconnaissance inclined rotary air blast (“RAB”) drilling by Resolute Mining Limited (“Resolute”) (ASX: RSG) in 1997 across the northern Becher Au-As-Sb anomaly yielded encouraging results including multiple gold assays of greater than 1 g/t Au (Figure 3) including:
- 3m @ 3.68 g/t Au from 25m (LGRB306) including 1m @ 4.38 g/t Au from 25m
- 1m @ 1.04 g/t Au from 30m (LGRB294)
- 1m @ 1.63 g/t Au from 26m (LGRB299)
- 2m @ 1.09 g/t Au from 32m (LGRB300)
Table 1 below provides a list of location information plus significant intersections from RAB drilling.
This historical data was disclosed in annual exploration reports (“Reports”) filed by Resolute on the Western Australian Department of Mines, Industry Regulation and Safety’s (“DMIRS”) website in 1997. The technical information contained in Table 1 has been extracted from the Reports. Reference should be made to the Reports which are available on DMIRS’ website (https://geodocs.dmirs.wa.gov.au/Web/documentlist/10/Report_Ref/A55647).
A qualified person has not verified the technical information contained in the Reports, and Novo is unaware of the existence of any technical report prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects or the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves in connection with the technical information contained in the Reports. Novo is unable to comment on the reliability of the technical information contained in the Reports and therefore, reliance should not be placed on such technical information.
Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/834c16b4-769b-4a65-9ca4-8a8b14d4be26
“Novo’s exploration team has been diligently reviewing the northern portion of its Egina land holdings for prospectivity for Hemi-type discoveries,” commented Dr. Quinton Hennigh, Non-Executive Co-Chairman and a director of Novo. “Numerous potential intrusive centers resembling sanukitoids like those at Hemi exist along a NE trending corridor extending from Novo’s tenure to Hemi. At Becher, a coincident Au-As-Sb soil anomaly is associated with an interpreted cluster of such intrusions. Novo plans to undertake high-resolution aeromagnetics, regolith and basement mapping and grid soil sampling in preparation for drilling in 2022.”
1 Refer to De Grey’s public disclosure materials which are available at https://degreymining.com.au/
2022 Egina Basement Gold Program
Historical data analysis is ongoing at Egina, with further geophysical and structural interpretation to aid in drill targeting to be completed early in 2022. Drilling is planned to test intrusive targets defined by high-resolution aeromagnetics, the extensive, coincident Au-As-Sb soil anomalies at Becher and targets defined by historic RAB drilling.
Gold analyses from drilling programs will be completed by PhotonAssay through the Intertek Laboratory in Perth, where Novo are currently receiving 7 – 9 day turnaround times for gold assay.
QP STATEMENT
Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, responsible for, and having reviewed and approved, the technical information contained in this news release other than the technical information extracted from the Reports. Dr. Hennigh is the non-executive co-chairman and a director of Novo.
About Novo
Novo operates its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 13,250 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.
On Behalf of the Board of Directors,
Novo Resources Corp.
“Michael Spreadborough”
Michael Spreadborough
Executive Co-Chairman
Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, planned exploration activities and the expected timing of receipt of assay results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the resource industry and the risk factors identified in Novo’s management’s discussion and analysis for the six months ended June 30, 2021, which is available under Novo’s profile on SEDAR at www.sedar.com. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Novo assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Novo updates any forward-looking statement(s), no inference should be drawn that the Company will make additional updates with respect to those or other forward-looking statements.
Analytic Methodology (as set out in the Reports)
Soil samples were taken as 2kg samples sieved to -2mm fraction and submitted to Genalysis Laboratory Services, Perth, for the following analysis:
- Au (B/ETA 1 ppb)
- Cu (B/AAS 1 ppm)
- As (B/AAS 5 ppm)
- Sb (B/ AAS 1 ppm)
Original 4m RAB composites were sampled using a PVC spear and sent to Genalysis Laboratory Services, Perth for the following analysis:
- Au (B/AAS 0.01 ppm)
- As (B/AAS 5 ppm)
- Sb (B/AAS 1 ppm)
- Cu (B/AAS 1 ppm)
Follow-up RAB intervals were taken as single metre splits from the 4m composites and submitted to Analabs, Welshpool for gold (fire assay 0.01 ppm).
Table 1: Significant intercept table for historical single metre split RAB results.
| HOLE ID | COORDSYS | EASTING | NORTHING | HEIGHT | AZI | DIP | DEPTH FROM | DEPTH TO | Au (ppm) | Width (m) | |
| LGRB306 | MGA94_50 | 620341 | 7684248 | 60 | 360 | -60 | 25 | 28 | 3.68 | 3 | |
| LGRB294 | MGA94_50 | 620554 | 7684133 | 60 | 360 | -60 | 30 | 31 | 1.04 | 1 | |
| LGRB299 | MGA94_50 | 620556 | 7684033 | 60 | 360 | -60 | 26 | 27 | 1.66 | 1 | |
| LGRB300 | MGA94_50 | 620556 | 7684013 | 60 | 360 | -60 | 32 | 34 | 1.09 | 2 |
Labrador Gold Corp.
Figure 1.
Big Vein Plan Map.
Figure 2.
Long section of the HTC Zone.
TORONTO, Nov. 04, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization along the Appleton Fault Zone at its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s ongoing 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.
Two holes K-21-28 and -79 both contained high-grade intervals. Hole K-21-28 intersected 76.24 g/t Au over 0.5m from 175 metres and Hole K-21-79 intersected 32.53 g/t Au over 0.8m from 162.55m, both in the HTC Zone. In addition, Hole K-21-58 intersected 7.25g/t Au over 1m from 161m in a newly defined mineralized zone in the footwall to the HTC Zone. This HTC Footwall Zone is also defined by previously released intersections of 128.51g/t Au over 1.12m in Hole K-21-47 and 11.68g/t Au over 0.91m in Hole K-21-11 as shown in Figure 1. A summary of the high-grade intersections, as well as other holes with assays recently received, are given in Table 1.
“We continue to find high-grade gold mineralization down plunge in the HTC Zone. The zone has now been tested to approximately 200 metres vertically and remains open at depth,” said Roger Moss, President and CEO of the Company. “We are also pleased to confirm a third mineralized zone in the footwall to the HTC Zone. We suspected the existence of this footwall zone for a while, but it has now shown sufficient continuity to call it a separate zone. This clearly shows the potential for multiple high-grade mineralized zones at the Big Vein target. Drilling to delineate the footwall zone and to test the down plunge extension of the HTC Zone is ongoing.”
| Hole ID | From (m) | To (m) | Width (m) | Au (g/t) | Zone |
| K-21-28 | 175 | 175.5 | 0.5 | 76.24 | HTC |
| K-21-50 | 5.2 | 7 | 1.8 | 1.72 | Big Vein |
| and | 12 | 13 | 1 | 1.47 | |
| K-21-52 | 7.5 | 12 | 4.5 | 1.9 | Big Vein |
| including | 11 | 12 | 1 | 5.4 | |
| K-21-56 | 99 | 100 | 1 | 1.08 | HTC |
| and | 108 | 109 | 1 | 1.76 | |
| and | 112 | 113 | 1 | 1.27 | |
| and | 220 | 221 | 1 | 1.42 | HTC Footwall |
| and | 225 | 226 | 1 | 2.38 | |
| K-21-57 | 41 | 44 | 3 | 1.35 | Big Vein |
| K-21-58 | 16 | 17 | 1 | 1.05 | Big Vein |
| and | 124 | 125 | 1 | 1.06 | HTC |
| and | 161 | 162 | 1 | 7.25 | HTC Footwall |
| and | 209 | 218 | 9 | 1.24 | |
| K-21-59 | 22 | 23 | 1 | 1.18 | Big Vein |
| and | 38 | 39 | 1 | 1.29 | |
| and | 139 | 140 | 1 | 1.35 | HTC |
| K-21-60 | 47 | 49 | 2 | 1.49 | Big Vein |
| and | 71 | 75 | 4 | 1.31 | HTC |
| and | 97 | 98 | 1 | 1.03 | |
| K-21-61 | 17 | 18 | 1 | 1.69 | Big Vein |
| and | 28 | 37 | 9 | 1.02 | |
| and | 50 | 54 | 4 | 1.06 | |
| and | 76 | 82 | 6 | 1.44 | |
| and | 98 | 99 | 1 | 1.07 | |
| K-21-62 | 9 | 10 | 1 | 1.295 | Big Vein |
| and | 104 | 105 | 1 | 3.747 | HTC |
| and | 144 | 145 | 1 | 4.01 | |
| K-21-64 | 33 | 34 | 1 | 1.8 | Big Vein |
| K-21-79 | 162.55 | 163.35 | 0.8 | 32.53 | HTC |
Table 1. Summary of Assay Results
All intersections are downhole length as there is insufficient Information to calculate true width.
Figure 1. Big Vein Plan Map. https://www.globenewswire.com/NewsRoom/AttachmentNg/c120f30a-a5ff-4e5a-93f6-7977a3c46d83
Figure 2. Long section of the HTC Zone. https://www.globenewswire.com/NewsRoom/AttachmentNg/e47135d0-30a1-46b1-8efe-302078085b9d
| Hole ID | Easting | Northing | Elevation | Azimuth | Inclination | Depth |
| K-21-79 | 661601.6 | 5435246.161 | 40.84152 | 140 | 68 | 239 |
| K-21-64 | 661506.5 | 5435104.474 | 32.56769 | 180 | 55 | 302 |
| K-21-62 | 661597.4 | 5435249.069 | 40.8497 | 155 | 52 | 314 |
| K-21-61 | 661506.4 | 5435104.148 | 32.1557 | 210 | 45 | 308 |
| K-21-60 | 661489.1 | 5435136.915 | 39.52409 | 145 | 52 | 284 |
| K-21-59 | 661507.4 | 5435102.71 | 32.52409 | 145 | 45 | 251.5 |
| K-21-58 | 661597.7 | 5435249.969 | 40.87062 | 145 | 65 | 275 |
| K-21-57 | 661505.5 | 5435104.954 | 32.56769 | 320 | 45 | 233 |
| K-21-56 | 661490.1 | 5435138.333 | 38.03539 | 130 | 45 | 366 |
| K-21-52 | 661590.3 | 5435203.697 | 37.35039 | 120 | 40 | 170 |
| K-21-50 | 661590.9 | 5435204.715 | 37.30028 | 105 | 40 | 167 |
| K-21-28 | 661562.3 | 5435246.268 | 44.9618 | 130 | 60 | 284 |
Table 2. Drill hole collar details
Big Vein target
The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined, with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes visible gold in quartz veins, assays of samples from which range from 1.87g/t to 1,065g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.
The ongoing 50,000 metre drill program has now tested Big Vein over approximately 250 metres of strike length and to vertical depths of 200 metres. Drilling has produced high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ and NQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $32 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 153,711,033 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter: @LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
VANCOUVER, British Columbia, Nov. 04, 2021 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR, OTCQB: HAMRF) (“Silver Hammer” or the “Company”) is pleased to announce that it has appointed technical advisor, Ron Burk, to the Company’s board of directors.
Mr. Burk is an exploration geologist with over 30 years of experience in the minerals industry, primarily focused on identifying and evaluating exploration properties. He has held numerous senior roles, including Vice President Exploration at Centerra Gold Inc. and Vice President of Exploration and Chief Geologist at Silver Standard Resources Inc. (now SSR Mining), where he contributed to discoveries that resulted in the definition of a world-class silver resource at the Pitarrilla Project in Durango, Mexico and major gold resources forming the Snowfield and Brucejack deposits in northern British Columbia, Canada. Prior to joining Silver Standard in 2004, Ron had worked since 1989 as an exploration geologist for Teck Resources Ltd. and its predecessors, focused on target generation and property evaluations in the Americas.
“The addition of Ron Burk as a board member adds additional depth to our technical team as we advance the Company’s portfolio of high-potential, high-grade, past-producing western US silver assets, including the Silver Stand Mine in Idaho and the Eliza Silver Project and Silverton Mine in Nevada,” stated Silver Hammer President & CEO, Morgan Lekstrom. “Mr. Burk’s extensive experience, including nearly a decade in senior roles for a major silver-focused mining company, Silver Standard, is invaluable as we grow and advance our portfolio of US silver projects.”https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.html
About Silver Hammer Mining Corp.
Silver Hammer Mining Corp. is a junior resource company advancing the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. The Company has commenced an initial drill program at Silver Strand that will test for silver and gold mineralization immediately below the mine’s lowest level extending only 90 metres below surface. Silver Hammer strives to become a multi-mine silver producer and will focus near-term exploration and drilling plans at the Company’s Idaho and Nevada silver-gold assets.
*Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property.
On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President & CEO
Corporate Office: Suite 206 – 595 Howe Street, Vancouver, British Columbia V6C 2T5, Canada
For further information contact: Kristina Pillon, President, High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com
The CSE does not accept responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
Novo Resources
Following is a recent discussion with Justin O’Connell in which we talk about how rapidly the West is changing and on the bobo culture and utopian expectations of those in the Silicon Valley:
On Investments
I recently read a fabulous book, “What Became of the Crow” by Robert Moriarty, a no holds barred account of the dealings— including the dirty ones—and the psychology and personalities of those in the mining industry. I met Mr. Moriarty on a trip to the Beaton’s Creek project of Novo Resources. The story is written with Novo, Dr. Quinton Hennigh, the Pilbara area, and a well-known Australian mining entrepreneur, Mark Creasy, as the fulcrum.
“Quinton Hennigh’s primary strength is his uncanny ability to think laterally; to view things from a different perspective,” says Mr. Moriarty. No wonder, “you love him, or you hate him.” Dr. Hennigh has theorized about the genesis of gold in the Pilbara area, where Novo controls an extensive land package and, now, a producing mine.
I have rarely seen a book on the mining industry. If you are interested in it and what goes on inside it, I seriously recommend “What Became of the Crow.”
Novo Resources (NVO; C$1.58) has been beaten down by troubles at the processing facility, which for a start-up operation is not only expected but made worse by supply chain problems and the lack of mobility of skilled labour. In my view, NVO currently trades at what it would have had it nothing else than the current mining operations. As an investor, I get a vast prospective area—including Karratha Gold Project and Egina—for free.
Jayant Bhandari
Disclaimer: All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment, or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. The sole purpose of these musings is to show my thinking process when analyzing a stock, not to provide any recommendation. I will not and cannot be held liable for any actions you take as a result of anything you read here. Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this site, expressed or implied herein, are committed at your own risk, financial or otherwise.
Vancouver, British Columbia–(Newsfile Corp. – November 2, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“) is pleased to announce that its private placement announced October 1, 2021 of up to 5,000,000 units at C$ 3.30 each for gross proceeds of up to C$ 16,500,000 has been oversubscribed and increased up to 6,500,000 units for C$ 21,450,000. The placement is expected to close on Friday, November 5, 2021.
The units will consist of one common share of the Company and one-half of one transferable warrant. Each whole warrant will entitle the purchase for two years of one common share at C$ 4.00 in the first year and C$ 4.50 in the second year.
Eligible finders will be paid a 6.0% cash commission and issued that number of non-transferable compensation warrants equal to 6.0% of the number of units sold to investors introduced by them. Each compensation warrant will entitle the purchase for one year of one common share of the Company for C$ 3.50.https://s.yimg.com/rq/darla/4-9-0/html/r-sf-flx.html
The placement is subject to stock exchange final approval.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any U.S. state securities laws and may not be offered or sold within the “United States” or to “U.S. Persons” (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable U.S. state securities laws, or an exemption from such registration is available.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com
Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
Not for distribution to United States newswire services or for dissemination in the United States.