Category: Precious Metals

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Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Repatriates Its Portfolio in the Geraldton Gold Belt in Ontario, Canada

Vancouver, British Columbia–(Newsfile Corp. – December 1, 2021) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce the repatriation of its 3 projects in the Beardmore-Geraldton Greenstone Belt (“BGGB”) in Ontario, Canada. In February 2021, Riverside offered the sale of its portfolio to iMetal Resources Inc. (“iMetal”). The Purchase Agreement was contingent upon a series of conditions which were not completed. At this time both parties have mutually agreed to dissolve the transaction and Riverside has now retained 100% ownership of the project portfolio of: Oakes, Longrose and Pichette located in the well-endowed and prolific BGGB. The recovery of these projects occurs at an opportune time for Riverside, particularly since the region is experiencing a renaissance in mining activity. Specifically, the recent launch of construction at the Greenstone Mine (an Equinox Gold / Orion Joint Venture) near the town of Geraldton, which bodes extremely well for Riverside’s own projects which are located along the trans-Canada highway and in close proximity to the Greenstone Mine.

During the past 7 months Riverside acted as exploration operator completing a summer field program. During the agreement with iMetal, Riverside more than doubled the induced polarization survey (IP) grid as well as conducted a focused sampling and mapping program along the survey grid at the Oakes Gold Project.

Highlights of the BGGB portfolio can be found in the press release dated February 10, 2021, which summarizes the previous work done at Oakes and also Riverside’s work on the three properties (see Figure 1).



Figure 1: Riverside’s 3 projects in the Geraldton-Beardmore gold belt shown in red along 90 km trend

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_002full.jpg

Riverside’s President and CEO, John-Mark Staude: “Regaining control of this three-project portfolio of further de-risked gold properties near the developing Greenstone Gold Mine provides Riverside with a unique opportunity to advance exploration ourselves. Drill target generation progressed this summer, we have a drill permit in hand and will start with further exploration work at Oakes with a view towards drilling initial targets there during 2022.”

Oakes Project:

Riverside acquired the BGGB portfolio in 2019, through a staking program with the opportunity to secure open ground in a prolific gold belt in northwestern Ontario adjacent to the Greenstone Gold Mine, a large gold resource and near-term future mining operation. Since 2019, Riverside’s technical teams have progressed and defined a large undrilled exploration target through the compilation of historical work including high grade gold drill and trench results, and an IP survey. Riverside controls a total of 55 km2 (5,544 hectares) at the Oakes Project, which is defined as being the most advanced project within the recovered BGGB portfolio. The latest exploration work included defining drill targets over a 2.3 km long IP anomaly corresponding to approximately 30% of the property explored as presented below.

The 2021 IP survey included a total of 12 line-km with the intention to identifying continuity to the east and west of the known mineralized system. These new geophysical results show an increased anomaly from 600 m length to a total of 2.2 km with continuity of the anomaly from the 2010 IP1 grid to the 2021 grid extension. Recent field work from Riverside’s team aimed to verify the IP anomalies on the ground looking for any potential associated evidence of mineralization and collect samples (pending).

At least three targets have been described as presented below, all of them drill-ready:

  • High Grade (“HG”) target reporting up to 31.9 g/t Au at surface (see press release July 29, 2019)
  • Brinklow target reporting a sample of 0.8 g/t Au
  • Crib target with sample assays pending

The high chargeability anomalies are not restricted along strike, neither to the west nor the east side, leaving the possibility for extension beyond the 2.2 km three parallel chargeable corridors. This will allow for additional exploration follow up in 2022 heading toward drilling.



Figure 2: Normalized chargeability (IP) combined 2010 (Golden Chalice, 2010) and Riverside 2021 covering about 30% of the Oakes Project. Anomalies presented as targets are understood to be related to geological features/variations, all of interest potentially related to mineralization. Overall, IP anomalies strike at Az100. Assay results are from Riverside’s field work in 2019.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/6101/106007_6ff1e4a98493e910_003full.jpg

Moving forward, Riverside wishes to advance the project with a drill program. De-risking has allowed the company to build confidence for additional project investment. The company is also very pleased to have the projects back into its current portfolio, setting up new opportunities to move ahead in a belt that sees substantial mining investment now with the Equinox Gold / Orion Mine Finance partnership on building a large new gold mine operation at Greenstone near the Company’s property holdings.

Options Grant

On November 16, 2021 the Company granted 1,000,000 incentive stock options (the “Options”) to Directors, Officers and Consultants of the Company. The Options are exercisable at $0.16 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Options were granted pursuant to the Company’s shareholder-approved stock option plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.

Qualified Person & QA/QC:

The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

All data represented here from historical reporting, including but not limited to, drill results and resource estimates are historical in nature and require caution readers as the vintage work.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $5M in cash, no debt and less than 72M 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.

1 Golden Chalice, 2010

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/106007

Categories
Junior Mining Precious Metals Uncategorized

Novo Identifies Ni-Cu Targets at Southcourt, Andover Intrusion, Adjacent to Azure’s Andover VC-07 Ni-Cu-Co Discovery

HIGHLIGHTS
 

  • Novo’s extensive greenfields exploration program has recently identified and advanced a series Ni-Cu-Co targets adjacent to Azure Minerals Limited’s (“ Azure ”) (ASX: AZS) Andover VC-07 Ni-Cu-Co massive sulphide discovery (“ Andover ”) and Artemis Resources Limited’s (“ Artemis ”) (ASX: ARV) Carlow Castle Au-Cu-Co discovery (“ Carlow Castle ”)
  • Novo’s 100%-owned exploration licence 47/1745 contains several airborne electromagnetic (“ VTEM ”) anomalies (previously defined in 2007 by Legend Mining Limited (“ Legend ”) (ASX: LEG)) which have not been drill tested, along with large high order soil geochemical anomalies (including Cu, Ni and Co) associated with the VTEM conductors, including the Southcourt and Milburn prospects
  • Novo is now progressing ground electromagnetic (“ EM ”) geophysical surveys in the near-term to advance these discoveries
  • This work is consistent with Novo’s accelerated exploration strategy targeted at growing the Company’s portfolio of gold and battery metals prospects in the Pilbara region of Western Australia

VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. ( “Novo” or the “Company” ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that it has recently identified and advanced a series of Au-Cu and Ni-Cu-Co targets on EL47/1745, adjacent to Andover 1 and Carlow Castle 2 in the West Pilbara region of Western Australia, although there is no certainty that EL47/1745 contains the same levels of mineralization as either of these discoveries.

The general area has benefited from a renewed exploration interest since Azure announced its drilling success on Andover in November 2020 1 with 3.9m @ 2.85% Ni and 0.47% Cu from 94.5m in their maiden drill hole ANDD001, subsequent to success by the Creasy Group, in 2018, who intersected 7m @ 2.62% Ni and 0.65% Cu in ADRC002 3 .

Recent geochemical sampling by Novo over previously defined VTEM conductors on EL47/1745 (weak conductors within airborne electro-magnetic surveys by Legend 4 , 5 ) has defined several large high-order Cu, Ni and Co anomalies relating to the VTEM targets.

Results and technical information referred to in this news release from Azure, Legend, Artemis, Westfield Minerals Ltd (“ Westfield ”) and AMAX Exploration (“ AMAX ”) are not necessarily representative of mineralization throughout the district. This historical data was disclosed in ASX announcements, other public disclosure documents, and annual exploration reports filed on the Western Australian Department of Mines, Industry Regulation and Safety’s (“ DMIRS ”) website (collectively, “ Disclosure ”) issued by Azure, Legend, Artemis, Westfield, and AMAX. The technical information contained herein has been extracted from this Disclosure. Reference should be made to the relevant Disclosure which is available online at the links provided in various footnotes throughout this news release.

A qualified person has not verified the technical information contained in the Disclosure, 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 Disclosure. Novo is unable to comment on the reliability of the technical information contained in the Disclosure and therefore, reliance should not be placed on such technical information.

https://www.globenewswire.com/NewsRoom/AttachmentNg/639bed66-5cfe-4d58-ac4f-9ead23808126

( Figure 1 – EL47/1745 location and priority targets, in relation to Andover and Carlow Castle.)

Southcourt Anomalies

Three weak VTEM conductors 3km WNW of Andover are present in a zone of complex geology within the Andover intrusion at Novo’s Southcourt prospect ( Figure 1 ), including layered gabbro and ultramafic intrusive rocks.

Detailed 20 x 20 m to 20 x 40 m spaced soil sampling undertaken by Novo utilizing a Niton XL5 pXRF has defined a high-order 500 m long Cu anomaly flanking the western two VTEM conductors ( Figure 2 ). Co and Ni partially overlap the broad copper anomaly ( Figure 3 ). Peak pXRF soil values include 1,456 ppm Cu, 1,521 ppm Ni, and 1,938 ppm Co. Peak rock chip results utilizing the pXRF for spot assaying on sulphide minerals or Cu-Ni oxide minerals yielded up to 19.6% Cu, 0.13% Co and 2.07% Ni. These results are not necessarily representative of mineralization throughout the entire district. Novo interprets the broad anomaly to be a zone of disseminated sulphide ( Figure 5a ) on the margin of potentially more substantial sulphide bodies at depth (VTEM target). Additional assay results are pending.

Milburn Anomaly

One high intensity VTEM anomaly is present at Milburn, 1.4km ESE from the east end of Carlow Castle. Previous work by Legend 6 included eight lines of ground EM which identified a single conductor modelled to a dip of 45 o west at a depth of 35 m. The EM anomaly was followed up by Legend 5 , 7 , 8 with 17 -2 mm soil samples which returned peak values of 36 and 33 ppb Au and previous rock chip sampling yielded values of 4.83% Cu, 0.15 g/t Au and 0.21% Ni. The anomaly was not drilled by Legend.

In 1967, Westfields Minerals 9 defined a 1 km long induced polarization (“ IP ”) anomaly (Fig. 3) to the south of the EM conductor and completed shallow vertical percussion holes with a best result of 6m @ 0.22% Ni and 0.15% Cu (BH31) (Fig. 3). Subsequent drilling in 1971 by AMAX 10 intersected a sequence of mafic and ultramafic rocks with 1 to 10% disseminated sulfides (pyrite, pyrrhotite and rare chalcopyrite) with best results from PDH20A (Fig. 3) of 3.66 m @ 0.23% Ni and 0.17% Cu. These results are not necessarily representative of mineralization throughout the entire district. Importantly, Au, Co and PGE minerals were not analyzed.

Detailed 20 x 20m spaced soil sampling undertaken by Novo utilizing a Niton XL5 pXRF has defined a high-order 450 m long Cu anomaly flanking the eastern side of the VTEM conductor ( Figure 4 ). Peak pXRF soil values include 1,677 ppm Cu, 1,131 ppm Ni, and 238 ppm Co. Peak rock chip results utilizing the pXRF for spot assaying on sulphide minerals or Cu-NI oxide minerals yielded up to 15.2% Cu, 92 ppm Co and 0.33% Ni. These results are not necessarily representative of mineralization throughout the entire district. Figure 5b highlights a copper rich siliceous altered mafic rock from the trend. Additional assay results are pending.

https://www.globenewswire.com/NewsRoom/AttachmentNg/d4efe865-748e-4f4f-9a3c-e129a140dd07

( Figure 2 – Southcourt Cu soil geochemistry (pXRF) with overlapping Co anomaly and VTEM conductors (white dashed circles).)

https://www.globenewswire.com/NewsRoom/AttachmentNg/18c3576f-1fd3-4dc7-8356-f69f9583be31

( Figure 3 – Southcourt Ni soil geochemistry (pXRF) with overlapping Cu anomaly Co anomaly (white shapes) and VTEM conductors (white dashed circles.))

https://www.globenewswire.com/NewsRoom/AttachmentNg/19312c11-f490-4c79-afbe-5d01f9ab6588

( Figure 4 – Milburn Cu soil geochemistry (pXRF) and VTEM conductors (white dashed circles) and the location of Westfields IP anomaly and drillholes in the general area.)

Other significant targets ( Figure 1 ) on EL47/1745 include:

Anna Valley , which is in the SW corner of EL47/1745. This VTEM anomaly defined by Legend 4 , 5 was followed up with a ground fixed loop transient EM (“ FLTEM ”) survey 6 defining a strong conductor dipping between 35 – 55°to the northwest with a modelled depths of 30 to 35 m. The target was thought to relate to a chert body which outcrops to the west, but the target is under thick alluvial and colluvial cover.

Fortune South #1 and #2 , which are part of a 2 km long shear zone with several historic workings and a number of metal detector pits where sheared gabbro and anastomosing quartz veins are present. Previous sampling has assayed up to 8.51 g/t Au and 0.134% Cu on EL47/1745 8 . pXRF rock chip samples at Fortune South #2 into banded and sheared Cu-rich gossan ( Figure 5d ) yielded peak values of 60% Cu and 802 ppm Ni. These target types (shear-related Au-Cu) are not highlighted by VTEM.

Thorpe East , which is part of a 2 km long shear corridor with several historic workings and peak assay results of 3.11 ppm Au 8 . Novo has identified significant gossanous zones ( Figure 5c ) associated with quartz veining, yielding up to 676 ppm As, 3.5% Cu, 0.15% Ni, and 48.6 ppm Mo. These target types (shear-related Au-Cu) are not highlighted by VTEM.

Carlow Castle Extension , on which Artemis 2 have reported a soil geochemical anomaly and favourable stratigraphy along strike and to the east of Carlow Castle, on EL47/1745, directly north of Milburn. Novo has not yet conducted any work on this 1.7 km long zone of potential. This orogenic Au-Cu-Co target type is not highlighted by VTEM.

The foregoing results at Anna Valley, Fortune South #1 and #2, and Thorpe East are not necessarily representative of mineralization throughout the entire district.

Exploration planned for EL47/1745 by Novo in early 2022 includes ground FLTEM surveys to better define the EM conductors, possible induced polarization lines across the identified target zones pending results of EM, and drilling into the main target areas, including the Milburn, Southcourt and Anna Valley prospects. Drill holes will be surveyed using downhole EM techniques to locate off-hole conductors. Extensive first pass reconnaissance soil sampling, regional to detailed mapping, and rock chip sampling will be conducted across highly prospective EL47/1745.

https://www.globenewswire.com/NewsRoom/AttachmentNg/bdab9da9-60a8-46a9-b9fa-cc9b7af6d6e3

( Figure 5a, 5b, 5c, 5d – Milburn Cu soil geochemistry (pXRF) and VTEM conductors (white dashed circles).)

Analytic Methodology

The pXRF assay technique utilized a Niton XL5 handheld XRF machine. The Niton is calibrated daily, with 4 QAQC standards (fit for purpose including certified Ni, Cu and Co values) run concurrently, with an additional 2 standards checked per 100 readings and 4 QAQC standard assayed before the machine is shut down. pXRF is utilized as a preliminary exploration technique for base metals. Soil samples are unprepared and analysed for 30 seconds using two machine filters and rock chip samples are point analysed for 90 seconds using 4 machine filters. The pXRF is a spot reading device and has diminished precision due to grainsize effect, especially on rock samples where peak results represent a window of < 10mm field of view.

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 Disclosure. 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. 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 nine-month period ended September 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.

______________________________

1 Refer to Azure’s ASX announcement dated November 9, 2020 .

2 Refer to Artemis’ ASX announcement dated November 20, 2019 .

3 Refer to Azure’s ASX announcement dated August 6, 2020 .

4 Refer to Legend’s ASX announcement dated July 23, 2007 .

5 Refer to Legend’s Annual Report 2009 – WAMEX Open File Data Rept. A82043

6 Refer to Legend’s ASX announcement dated October 02, 2007 .

7 Refer to Legend’s ASX announcement dated January 24, 2008 .

8 Refer to Legend’s Annual Report 2009 – WAMEX Open File Data Rept. A69000

9 Refer to Westfields Final Report 1967 – WAMEX Open File Data Rept. A982

10 Refer to AMAX Final Report 1972 – WAMEX Open File Data Rept. A3472

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Junior Mining Precious Metals

NV Gold Confirms Potential Extension of Gold Mineralization at Slumber Project

VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / NV Gold Corporation (TSXV:NVX)(OTCQB:NVGLF)(Frankfurt:8NV) (“NV Gold” or the “Company“) has confirmed the correlation of a “low-resistivity zone” with known alteration and possible gold mineralization at its 100% controlled Slumber Gold Project (“Slumber”) located approximately 50 miles northwest of Winnemucca, Humboldt County, Nevada, USA.

The Q4-2021 drill program at Slumber has currently completed five RC (reverse circulation) drill holes totaling approximately 900 meters. The goal of this program is the confirmation of a reinterpreted geological model and correlation of alteration and possible gold mineralization with a low resistivity zone identified by last year’s CSAMT work (see press release September 7th, 2021). The initial holes appear to confirm this previously untested concept.

These initial holes have been visually encouraging, extending the zone of alteration by at least 500 meters to the north, while now demonstrating significant thickness as well (+150 m). All holes into the resistor zone have encountered highly-brecciated, silicified, hematitic rocks that remained in strong alteration at termination (see figure 1). Abundant groundwater has continued to be a depth-limiting factor for the RC equipment; therefore, the Company will limit the balance of this program to testing remaining shallower resistivity zones. Follow-up drilling will be dependent upon core rig availability. Initial analytical results from this program are expected to be received in mid to late January, depending upon laboratory constraints related to COVID and staffing.

“I am very pleased with these preliminary drilling results. This drilling campaign was designed to give Slumber an additional chance to move to a pre-discovery level. I am gratified to see these intensely silicified and brecciated rocks supporting the reinterpretation of the geological model. High grades would be a success, pointing towards a discovery. NV Gold will expand the geophysical coverage and utilize core drilling equipment to test the extensive and thick piles of mineralized silicified rock possibly containing high-grade sulfide feeders,”commented Thomas Klein VP Exploration NV Gold.

After the completion of the Slumber drilling the RC rig will be mobilized to NV Gold’s next encouraging project, Discovery Bay, located 50 kilometers south of Battle Mountain and 14 kilometers southeast of the McCoy-Cove property owned and currently under exploration by i-80 Gold Corp.

A picture containing piece, chocolate, meat, eatenDescription automatically generated
A picture containing piece, chocolate, meat, eatenDescription automatically generated

Figure 1: Intensely silicified and hematitic rhyolite breccia. (To view the full sized image, please click here.)

Near-Term Strategy and Outlook

The Company continues its focus on Nevada and the Great Basin, one of the largest and most productive gold provinces in the world. On a regional-scale, Nevada is thought by many to be a thoroughly explored gold province. Much of the near surface gold that has been found over the past 40 years has already been mined or is being mined today. To find significant new deposits, the successful explorer needs to employ modern, sensitive sampling and interpretive techniques and a willingness to drill. The breadth of experience of our staff and advisors gives us our advantage. Over 50% of Nevada is covered by recent basin sediments or volcanic cover, which often obscures the classic, visible expressions of mineralization. These covered areas are composed of the same rocks with the same temporal placement as the gold deposits found in the nearby ranges. There is a strong likelihood that other, similar-sized deposits await discovery! Significant discovery potential continues to remain in one of the preeminent gold provinces on Earth. The Company has a strong property position with over 20 projects, ranging from Greenfields to advanced “pre-discovery”. Our property portfolio covers a number of geologic environments and at varying levels of advancement. Holding costs for most of these properties are minimal, particularly those that are held as joint venture or lease-out possibilities.

It is our plan to drill 4-6 projects in the 12-18-month time horizon, providing a good news flow and multiple opportunities for success. We look forward to a productive and successful exploration season ahead.

About NV Gold Corporation

NV Gold (TSXV:NVX)(OTCQB:NVGLF)(FSE:8NV) is a well-financed exploration company with ~80 million shares issued, a solid treasury and no debt. The Company is based in Vancouver, British Columbia, and Reno, Nevada and is focused on delivering value through mineral discoveries in Nevada, USA. Leveraging its expansive property portfolio, its highly experienced in-house technical team, and its extensive geological data library, 2021 and 2022 promise to be highly productive for NV Gold.

We seek safe harbor.

On behalf of the Board of Directors,

John E. Watson, President & CEO

For further information, visit the Company’s website at www.nvgoldcorp.com or contact:
Freeform Communications at 604.245.0054

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

Forward Looking Statements

This news release includes certain forward-looking statements or information. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include regulatory issues, market prices, availability of capital and financing, general economic, market or business conditions, timeliness of government or regulatory approvals, The Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

SOURCE: NV Gold Corporation



View source version on accesswire.com:
https://www.accesswire.com/675194/NV-Gold-Confirms-Potential-Extension-of-Gold-Mineralization-at-Slumber-Project

Categories
Base Metals Breaking Junior Mining Precious Metals Project Generators

Millrock Partner Felix Gold Lodges Initial Publuc Offering Prospectus on ASX, Fairbanks Area Gold Projects, Alaska

Figure 1

Plan View Map showing the location of the project within the Tintina Gold Province.
Plan View Map showing the location of the project within the Tintina Gold Province.
Plan View Map showing the location of the project within the Tintina Gold Province.

Figure 2

Plan View Map of Felix Gold land holdings in relation to the City of Fairbanks, Kinross’ Fort Knox Mine and Gil satellite mine, and Freegold Ventures Golden Summit / Cleary Hill gold deposit.
Plan View Map of Felix Gold land holdings in relation to the City of Fairbanks, Kinross’ Fort Knox Mine and Gil satellite mine, and Freegold Ventures Golden Summit / Cleary Hill gold deposit.
Plan View Map of Felix Gold land holdings in relation to the City of Fairbanks, Kinross’ Fort Knox Mine and Gil satellite mine, and Freegold Ventures Golden Summit / Cleary Hill gold deposit.

VANCOUVER, British Columbia, Nov. 30, 2021 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to have received notice from Felix Gold that it has lodged a prospectus with the Australian Securities and Investments Commission. The filing initiates the process by which Felix Gold may become a publicly-traded company on the Australian Securities Exchange (“ASX”). If successful under the proposed schedule the company shares would begin trading in January 2022. Depending on the concurrent capital raise, Felix Gold would have between AUD$10 million and AUD$13 million in their treasury, with much of that funding to be directed to exploration of the mineral claims that have been contributed by Millrock and/or staked or acquired by Felix Gold in the Fairbanks Mining District. Upon successful IPO and capital raise, Millrock will be entitled to a payment of Felix Gold shares. It is anticipated that the ASX will impose a mandatory restriction on the disposal of these shares of up to two years. Readers are cautioned that the share payment will only be made if the IPO is successfully completed.

Millrock President and CEO Gregory Beischer commented: “This is great news for Millrock and its shareholders. Depending on the amount of money raised in the IPO, Millrock will receive Felix Gold shares with an initial value ranging between approximately US$1.7 million and US$1.9 million. Additionally, Millrock will be entitled to production royalties on all of the claims comprising the current extensive property position and on future claims that may be acquired within a large Area of Interest surrounding the Fairbanks Mining District. Millrock will be entitled to Advanced Minimum Royalty payments that begin January 2022. Some excellent targets have been developed over the past year, while Felix Gold was an unlisted company. With a strong treasury and a robust 2022 budget, Felix Gold will have a great chance to make new gold discoveries and expand the gold resource at the Grant Mine. Any exploration success should result in strong appreciation of the Felix Gold shares that Millrock will hold, and also should support Millrock’s share price.”

As reported in a January 12, 2021 press release, Millrock assigned Felix all of its rights in the Fairbanks area Ester Dome and Treasure Creek properties. It had held these rights for several years under agreements with prospectors. The Fairbanks Mining District is located within the prolific Tintina Gold Province, which spans Alaska and Yukon.

The Felix Gold prospectus indicates that (assuming the IPO and capital raise is successful) Millrock will be issued a minimum of 9,957,157 and a maximum of 11,442,384 Felix Gold shares at an IPO price of AUD$0.25 with an indicative initial value ranging between AUD$2,249,289 (CDN$2,047,389) and AUD$2,860,596 (CDN$2,603,491). The number of shares to be issued is dependent on the amount of capital raised. The shares will only be issued to Millrock if the IPO and capital raise is successfully completed.

Since signing the initial agreements in January 2021, the Felix Gold team, working in collaboration with Millrock, significantly expanded the claim package, targeting areas that appeared to have high potential based on a systematic evaluation of public data and Millrock’s proprietary database. A large soil sampling effort was carried out in 2021. More than 3,000 soil samples were collected using power augers which allow for the collection of soil at the bedrock – overburden interface. Overlying overburden in the Fairbanks area often consists of very fine grained windblown sediments with or without permafrost making traditional soil geochemical surveys less effective. This work has served to identify strongly anomalous areas on the Treasure Creek project with three main prospects: NW Array, Scrafford, and Eastgate. The survey also identified strong anomalies at the Northeast Fairbanks portion of the project, which is proximal to Kinross’ Fort Knox gold mine, the satellite Gil deposit recently put into production by Kinross, and the Golden Summit / Cleary Hill deposit, which is being actively explored by Freegold Ventures Limited with strong success.

Felix Gold has examined data from the former-producing Grant Mine upon which they have an option to purchase a 100% interest. As a result of the data analysis, Felix Gold has been able to calculate a gold resource that is compliant with the Australia Joint Ore Reserves Committee (“JORC”) standards that govern such calculations in Australia (source: INDEPENDENT GEOLOGIST’S REPORTS ON FELIX GOLD LIMITED’S MINERAL EXPLORATION PROJECTS IN ALASKA, Prepared by Independent Geologist Mr. Ian Taylor of Mining Associates Pty Ltd., October 15, 2021).

The independent geologist’s report is appended to the Felix Gold prospectus and reports the following:

  • Inferred Mineral Resource estimate (JORC 2012) for Grant Mine of 5.8 million tonnes @ 1.95 grams per tonne gold for 364,000 ounces of contained gold including an underground resource of 136,000 ounces of gold grading 6.2 grams of gold per tonne.
  • And also: Grant Mine Exploration Target (JORC 2012) of 5.6 million tonnes to 6.6 million tonnes at a grade of 1.9 grams per tonne gold to 2.1 grams per tonne gold for 338,000 to 545,000 ounces of gold (exclusive of the Mineral Resource).

Note: The NI43-101 standards are the standards to which Millrock must adhere as a TSX Venture Exchange issuer, and the Australia JORC standards are those to which Felix Gold must comply as an Australian issuer. The JORC standards are robust, similar and parallel to the NI43-101 standards. JORC (2012) is defined as an ‘acceptable foreign code’ under NI43-101 reporting standards and the definition and classification of Mineral Resources are essentially the same as the NI43-101 Canadian Institute of Mining Definition standards. The Millrock qualified person has not independently verified the drill hole data, drill core, and estimation methodology as reported by Felix.

Figure 1. Plan View Map showing the location of the project within the Tintina Gold Province.
https://www.globenewswire.com/NewsRoom/AttachmentNg/71c71907-ec2d-4791-a632-b1e2fbbd4fca

Figure 2. Plan View Map of Felix Gold land holdings in relation to the City of Fairbanks, Kinross’ Fort Knox Mine and Gil satellite mine, and Freegold Ventures Golden Summit / Cleary Hill gold deposit.
https://www.globenewswire.com/NewsRoom/AttachmentNg/d99e5cc4-19be-44d7-964d-0ca5df2fe96f

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, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the successful completion of an IPO and capital raise by Felix Gold and the intention to mount further exploration including drilling in 2022. 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.

Categories
Junior Mining Precious Metals

Lion One Reports Additional High-Grade Intercepts from Infill Drilling at Tuvatu Gold Project, Fiji

North Vancouver, British Columbia–(Newsfile Corp. – November 30, 2021) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from the infill drill and re-sampling program undertaken in the near-surface portion of the Tuvatu deposit. This program was designed to further strengthen the database in the portion of the deposit earmarked for earliest production, from the Company’s 100% owned Tuvatu gold project in Fiji.

  • 5,615m of infill drilling completed in 30 holes (~70% of the proposed program)
  • 600 additional data points generated from infill resampling of 12 historic holes

Highlights from near-surface infill drilling and re-sampling include:

20.61 g/t Au over 7.50m inc. 89.03 g/t Au over 1.50m, and 227.3 g/t Au over 0.30m from TUDDH545
21.34 g/t Au over 2.50m inc. 38.25 g/t Au over 1.30m, and 52.27 g/t Au over 0.30m from TUDDH548
33.52 g/t Au over 2.40m inc. 185.60 g/t Au over 0.40m from TUDDH553
9.13 g/t Au over 2.59m inc. 74.58 g/t Au over 0.30m from resampling of historic hole TUDDH362

TUDDH541

  • 4.61 g/t Au over 4.23m from 112.6-116.83m, including
    • 14.35 g/t Au over 1.20m from 115.63-116.83, which includes
    • 33.85 g/t Au over 0.30m from 116.23-116.53m
  • 7.09 g/t Au over 0.60m from 124.63-125.23m, including
    • 12.82 g/t Au over 0.30m from 124.93-125.23m

TUDDH544

  • 8.27 g/t Au over 0.30m from 24.65-24.95m
  • 5.46 g/t Au over 2.90m from 34.6-37.5m, including
    • 16.75 g/t Au over 0.50m from 34.9-35.4m, and
    • 7.83 g/t Au over 0.60m from 36.6-37.2m
  • 9.21 g/t Au over 0.30m from 50.85-51.15m
  • 18.62 g/t Au over 0.30m from 65.93-66.23m
  • 9.44 g/t Au over 0.60m from 68.32-68.92m, including
    • 13.45 g/t Au over 0.30m from 68.32-68.62
  • 11.21 g/t Au over 0.30m from 147.23-147.53

TUDDH545

  • 20.61 g/t Au over 7.50m from 123.6-131.1m, including
    • 7.97 g/t Au over 1.00m from 123.6-124.6m, and
    • 8.97 g/t Au over 0.90m from 125.6-126.5m, and
    • 89.03 g/t Au over 1.50m from 128.3-129.8m, which includes
    • 227.30 g/t Au over 0.30m from 128.3-128.6m, and
    • 10.48 g/t Au over 0.30m from 128.6-128.9, and
    • 39.01 g/t Au over 0.30m from 128.9-129.2m, and
    • 99.42 g/t Au over 0.30m from 129.2-129.5m, and
    • 68.95 g/t Au over 0.30m from 129.5-129.8m
  • 9.88 g/t Au over 0.30m from 130.8-131.1m
  • 9.38 g/t Au over 1.00m from 137.6-138.6m

TUDDH546

  • 10.16 g/t Au over 1.20 from 104.2-105.4m, including
    • 39.33 g/t Au over 0.30m from 104.2-104.5m

TUDDH547

  • 13.47 g/t Au over 0.30 from 104.5-104.8m

TUDDH548

  • 9.82 g/t Au over 0.30 from 82.6-82.9m
  • 18.74 g/t Au over 0.30m from 101.6-101.9m
  • 6.41 g/t Au over 1.50m from 106.2-107.7m, including
    • 26.34 g/t Au over 0.30m from 106.2-106.5m
  • 15.37 g/t Au over 0.30m from 110.4-110.7m
  • 21.34 g/t Au over 2.50m from 120.85-123.35m, including
    • 38.25 g/t Au over 1.30m from 121.75-123.05m, which includes
    • 52.27 g/t Au over 0.30m from 121.75-122.05m, and
    • 21.13 g/t Au over 0.30m from 122.05-122.35m, and
    • 53.82 g/t Au over 0.30m from 122.35-122.75m, and
    • 20.58 g/t Au over 0.30m from 122.75-123.05m

TUDDH553

  • 7.84 g/t Au over 0.90m from 26.0-26.9m
  • 33.52 g/t Au over 2.40m from 173.4-175.8m, including
    • 185.60 g/t Au over 0.40m from 174.5-174.9m

Highlights from infill resampling of historic drilling include:

  • 6.78 g/t Au over 3.50m from 91.1-94.6m, including
    • 8.43 g/t Au over 2.70m from 91.1-93.8m, including
    • 10.98 g/t Au over 0.90m from 91.1-92.0m in TUDDH225
  • 9.13 g/t Au over 2.59m from 84.81-87.4m, including
    • 74.58 g/t Au over 0.30m from 86.31-86.61m in TUDDH362
  • 1.81 g/t Au over 0.60m from 118.2-118.8m in TUDDH410
  • 6.88 g/t Au over 0.60m from 131.1-131.7m in TUDDH539

Infill Drilling and Resampling Program
In addition to the recently reported expansion of the high-grade 500 Zone underlying the Tuvatu resource, several bonanza-grade intercepts have also been returned from the ongoing near-surface infill/definition drill program. The ~8000m infill drill program was initiated in June of 2021 with the aim of infilling areas of low data density within parts of the resource currently categorized as Inferred. To date, a total of 5,615m of diamond drilling over 30 holes have been completed, with ~30% of the proposed program remaining. Concurrently, a program of resampling of unsampled intervals from historic drill holes in has been initiated with the resampling of 12 holes completed to date (23 holes planned), representing ~50% of the planned resampling program, and thus far generating ~600 additional samples in areas where data was considered sparse. The additional data generated was generated in Lion One’s own assay laboratory in Nadi and will add significant new high-grade intercepts to the resource earmarked for early production.

Final results received to date from holes drilled as part of the infill program are for 7 holes only (TUDDH541-553). All results for holes TUDDH554-562 remain pending. Figure 3 shows some of the coarse visible gold intersected as part of the infill drilling program. Photographs shown are from drill holes for which analytical results are still pending. A complete set of results for all previously unreported drill holes which form part of the infill drill program is included as Table 1.

The Company is currently undertaking two tiers of drilling: 1) the completion of shallow resource infill drilling from surface and underground, 2) deep exploration drilling from surface and underground targeting lode extensions and additional feeders under the Tuvatu resource. With the wet season starting in Fiji, the regional drill program requiring access to remote parts of the Navilawa caldera has seen a planned interruption, and is scheduled to resume in early 2022.

Deep Feeder Zone 500 – additional update
An update of results obtained from the ongoing deep drilling of the high-grade 500 Zone feeder zone is also provided at this time. Additional results, as yet unreported, from ongoing drilling of the 500 Zone include: 17.43 g/t Au over 1.5m from downhole depth of 643.1-644.6m from hole TUDDH544-W1.

There are currently 3 drill holes targeting the 500 Zone. Results of these will be reported as they become available.

Sergio Cattalani, Lion One’s Senior Vice President Exploration, commented, “High grade mineralization continues to be defined both in the near-surface portion of the deposit, as well as in the expanding deep feeder Zone 500. The additional data generated by the infill drilling and resampling programs will greatly enhance our understanding of the geometry of the veins, and raise the level of confidence needed, ahead of Lion One’s near-term underground development at Tuvatu. Our objective remains to work toward a near-term modest production start, concomitant with an aggressive exploration program aimed at the continued expansion of deep bonanza-grade resources for the eventual scaled-up development of a larger and richer resource base.”



Figure 1: Left) schematic cross-section across the northern part of Tuvatu showing the location of some infill drill holes, with selected results. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/2178/105778_35fc524c74ba88bc_001full.jpg



Figure 2: Left) schematic cross-section across the northern part of Tuvatu showing the location of some of the drill holes that have been resampled, with selected results. Right) Plan view of Tuvatu orebody as a block model, showing the trace of the Tuvatu decline and the location of the vertical section on the left. The different colors represent ore blocks of different grade forming the various lodes.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/2178/105778_35fc524c74ba88bc_002full.jpg

Table 1: Drilling Intervals Reported (intervals greater than 3.0 g/t Au cutoff are bolded)

Drill HoleFrom (m)To (m)Interval (m)Au (g/t)
TUDDH54152.5454.552.011.12
59.0059.400.402.24
63.4063.700.301.32
69.0070.781.781.06
109.95110.250.302.50
112.60116.834.234.61
including115.63116.831.2014.35
including116.23116.530.3033.85
118.30118.600.301.02
120.00123.503.803.27
including122.30123.501.205.71
124.63125.230.607.09
including124.93125.230.3012.82
127.20130.203.000.87
including129.90130.200.306.69
TUDDH-54273.0073.600.600.75
78.1078.400.300.73
79.8081.501.701.65
83.6083.900.300.87
91.9094.702.801.36
TUDDH-54574.6075.601.003.38
79.6080.200.603.23
81.6083.602.001.4
108.10108.400.305.36
123.60131.107.5020.61
including123.60124.601.007.97
and125.60126.500.908.97
and128.30129.801.5089.03
including128.30128.600.30227.3
and128.60128.900.3010.48
and128.90129.200.3039.01
and129.20129.500.3099.42
and129.50129.800.3068.95
and130.80131.110.309.88
137.60138.601.009.38
TUDDH-54680.5081.701.202.53
97.8099.601.801.64
104.20105.401.2010.16
including104.20104.500.3039.33
109.20109.500.303.76
113.20113.500.300.92
115.90117.401.501.04
120.50123.302.800.85
including123.00123.300.303.93
60.2060.500.301.61
66.6067.200.601.3
68.4069.000.601.35
TUDDH-54770.4071.000.602.67
76.3077.200.901
87.1088.901.801.13
91.6092.500.901.59
94.3099.705.401.96
including94.3095.200.905.19
97.0099.702.701.08
104.50104.800.3013.47
107.00107.900.903.96
110.30111.200.900.52
115.70118.102.400.72
TUDDH-54882.6082.900.309.82
99.20100.401.201.15
101.60101.900.3018.74
106.20107.701.506.41
including106.20106.500.3026.34
110.40110.700.3015.37
113.90115.301.401.16
118.45118.750.304.31
120.85123.352.5021.34
including121.75123.051.3038.25
including121.75122.050.3052.27
and122.05122.350.3021.13
and122.35122.750.4053.82
and122.75123.050.3020.58
74.1074.400.304.69
TUDDH-55326.0026.900.907.84
108.50109.501.000.79
115.80120.104.301.42
173.40175.802.4033.5
including174.50174.900.40185.6
179.90180.500.601.91
TUDDH544W1 (500 Zone)643.10644.601.5017.43
including643.10643.400.305.10
and643.40643.700.3075.55
and643.70644.000.304.05

Table 2: Survey details of diamond drill holes referenced in this release not previously reported

Hole NoCoordinates (Fiji map grid)RLfinal depthdipazimuth
NEm(TN)
TUDDH544, 544W13920795.61876350.7209.7758.5-65.0°132°
TUDDH5413920733.61876296.8225.1165.6-49.0°002°
TUDDH5423920845.31876170.4166.6150.5-7.0°139°
TUDDH5453920732.51876296.8225.1191.6-80°10°
TUDDH5463920734.11876298.1225.1170.5-49°13°
TUDDH5473920733.81876298.0225.1173.5-61°17°
TUDDH5483920733.41876297.9225.2200.7-73°15°
TUDDH5533920724.81876385.5237.0206.4-74°274°
TUDDH5623920723.31876385.5237.0244.2-70°248°
TUDDH5633920796.31876351.1209.7in progress-63°121°



Figure 3: A) Photo of a portion of uncut drill core from TUDDH563, one of the infill drill holes, showing coarse visible goldat 13.60m depth. Analytical results pending. B) Photo of a portion of uncut drill core from TUDDH562, one of the infill drill holes, showing coarse visible goldat 165.0m depth. C) Same interval as B after cutting. Analytical results pending.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/2178/105778_35fc524c74ba88bc_003full.jpgABC

Drilling and Assay Processes and Procedures
The Company is utilizing its own diamond drill rig, using PQ, HQ and ultimately NQ sized drill core rods. Drill core is logged by Company geologists and then is sawn in half and sampled by Lion One staff.

Samples are analyzed at the Company’s own geochemical laboratory in Fiji, whilst pulp duplicates of all samples with results >0.5g/t Au are re-assayed, as well as sent to ALS Global Laboratories in Australia for check assay determinations. All samples for all high-grade intercepts reported here are will be sent to ALS Global Laboratories for check assays shortly. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10g/t Au are then re-analyzed by gravimetric method. For certain high-grade samples for which results for duplicate assay are within 10% of the initial results, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples sent to ALS Townsville, Queensland, Australia are analyzed by the same methods (Au-AA26, and also Au-GRA22 where applicable). ALS also analyze for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES. (method ME-ICP61).

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, comprises 1,120,000 tonnes indicated at 8.17 g/t Au (294,000 oz. Au) and 1,300,000 tonnes inferred at 10.60 g/t Au (445,000 oz. Au) at a cut-off grade of 3 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 alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of
Lion One Metals Limited
“Walter Berukoff“
Chairman and CEO

For further information
Contact Investor Relations
Toll Free (North America) Tel: 1-855-805-1250
Email: info@liononemetals.com
Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider
accepts responsibility for the adequacy or accuracy of this release.

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.info

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Group Ten Metals Signs Definitive Agreement with Heritage Mining on the Black Lake-Drayton Gold Project in Ontario, Canada

November 29, 2021 – Vancouver, BC – Group Ten Metals Inc. (TSX.V: PGE | OTCQB: PGEZF; FSE: 5D32) (the “Company” or “>Group Ten”) is pleased to announce that it has signed a Definitive Agreement (the “Agreement”) with Heritage Mining Ltd. (“Heritage”) per the binding Letter of Intent (the “LOI”) announced August 26, 2021. By the terms of the Agreement, and subject to the earn-in requirements specified therein, Heritage can acquire up to a 90% interest in Group Ten’s Black Lake-Drayton gold project (the “Property”) in Ontario, Canada.

Group Ten also announces that it has initiated the exploration program required by the Agreement, with a focus on advancing and refining existing targets identified in past campaigns, as well as advancing new targets. To this end, the 2021 program includes re-sampling of core from 1996-2002 drill campaigns programs at the Moretti, Dragfold, and Bonanza targets, focused prospecting in areas of interest identified by the 2017 geophysical modelling and interpretation report, and a basal till sampling program intended to expand upon successful 2018 and 2020 programs.

Group Ten President and CEO, Michael Rowley stated, “We are pleased to announce the successful conclusion of the first in what we expect will ultimately become a series of deals whereby Group Ten begins to realize value for our non-core assets. Black Lake-Drayton, like our Kluane Ni-Cu-PGE project, is a high-quality brownfields project that is district-scale in size and 100%-owned by the Company. The Agreement with Heritage Mining provides Group Ten with significant exposure to the gold market while allowing us to focus on our 100%-owned Stillwater West project in Montana, where we see terrific potential to expand our recent inaugural resource estimates of first-world nickel, copper, palladium, platinum, rhodium, gold and cobalt. Core from 2021 resource expansion drilling at Stillwater West is progressing through the assay lab and we look forward to a series of news releases announcing results starting in the coming weeks, as well as updates on other initiatives including our work in carbon sequestration.”

Heritage Mining’s CEO, Peter Schloo stated, “It is rare that a project of this size and quality becomes available, and we appreciate Group Ten’s faith in our ability to add significant shareholder value in a timely manner. We are very excited about the Black Lake-Drayton project and look forward to developing the property in a systematic manner. This is a pivotal point in Heritage Mining’s path, and we look forward to the future. We anticipate a go-public listing shortly, pending market conditions.”

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Group Ten Metals President and CEO, Michael Rowley, will provide an overview and update on the Company and our flagship Stillwater West battery metals and platinum group elements project during a live webinar event hosted by Amvest Capital on Monday, November 29th at 13:05 PT / 16:05 ET. To register, click here.

Virtual Investor Conference – OTC Markets Group

Group Ten has been invited to present at the upcoming Mining & Metals Virtual Investor Conference hosted by OTC Markets Group on Wednesday, December 8th at 12:00 PM PT / 3:00 PM ET. Topics of discussion will include the Company’s recently announced NI 43-101 mineral resource estimate, the 2021 expansion drill campaign, and upcoming, near-term catalysts. To register, click here.

Terms of the Heritage Mining Definitive Agreement

Under the terms of the Agreement, Heritage may acquire a 90% undivided interest in the Property by making payments totaling 7.2 million shares and CAD $300,000 in cash to Group Ten, completing exploration and development work totaling CAD $5 million on the Property, granting Group Ten a 10% carried interest in the Property through completion of a feasibility study, and completing other requirements including potential success-based discovery payments, as detailed below:

  • Heritage shall issue 2,800,000 shares to Group Ten within ten (10) business days of obtaining a public listing on a specified exchange.
  • Heritage may earn a 51% interest (the “First Option”) in the Property by completing the following on or before the third anniversary of the “Agreement:
    • Issuing an additional 3.3 million shares to Group Ten;
    • Completing cash payments totaling CAD $300,000; and
    • Completing exploration work totaling CAD $2.5 million.
  • Upon completion of the First Option, Heritage may earn an additional 39% ownership interest in the Property (the “Second Option”) for a cumulative 90% interest by completion of the following on or before the fourth anniversary of the Agreement:
    • Issuing an additional 1.1 million shares to Group Ten; and
    • Completing additional exploration work totaling CAD $2.5 million.

In addition, the LOI provides the following:

  • A discovery payment of $1.00 per ounce of gold or gold equivalent shall be made on mineral resource estimates as filed from time-to-time on the Property and shall, in Heritage’s discretion, be paid in cash or shares (or a combination thereof), capped at a maximum of $10 million.
  • Upon completion of the Second Option, Group Ten will retain a 10% free carried interest in the Project, with Heritage being responsible for all Property costs until completion by Heritage of a positive feasibility study supported by a technical report prepared in accordance with NI 43-101 on the Property (the “FS”).
  • The Agreement provides for the formation of a Joint Venture (“JV”) based on the then legal and beneficial ownership levels in the Property following completion of the FS. A JV may also be formed in the event Heritage does not complete the requirements of the Second Option.
  • Heritage will be required to maintain minimum exploration and development expenditures of CAD $500,000 per annum until the completion of the FS in order to maintain status as operator of the JV. Group Ten maintains certain back-in rights in the event Heritage does not meet minimum expenditure requirements.
  • Group Ten is required to complete CAD $300,000 of exploration work on the Property within the first year of the Agreement.

Black Lake – Drayton Gold Project Overview

The 100%-owned Black Lake–Drayton project consists of 137 square kilometers in the Abrams‐Minnitaki Lake Archean greenstone belt, along the northern margin of the Wabigoon sub-province in Ontario, Canada. The Property has significant exploration potential with demonstrated high-grade gold in drill results and bulk samples across more than 30 kilometers of underexplored strike in a geologic setting that is shared with Treasury Metals’ development-stage Goliath Gold Complex project in a highly active gold belt that also hosts Rainy River’s New Gold mine and other deposits. The geological models and exploration methods that have successfully proven up over 14 million ounces of gold at Treasury, New Gold, and other projects in the region since the 1990s have yet to be systematically applied at Black Lake – Drayton. Access and infrastructure are excellent on the Property, which features direct road access, and proximity to rail and power.

About Heritage Mining

Heritage Mining Ltd. is a private, well-capitalized company focused on acquiring Tier-1, advanced stage precious and base metal exploration projects and/or the junior/micro-producer project stage. Heritage’s board and management Team have a proven track record of shareholder value creation with over 100 years of combined experience in the mining and exploration sector. For more information, visit the Heritage Mining website.

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 is focused on its 100%-owned, flagship Stillwater West battery metals and platinum group elements project in Montana, USA, adjacent to the high-grade PGE mines operated by Sibanye-Stillwater. In October 2021, the Company announced its inaugural NI 43-101 mineral resource estimate, with an update expected in Q1 2022 subject to results from an expansion drill campaign in 2021 from which assays are pending.

Group Ten also holds two additional district-scale brownfields assets including the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario (now subject to an earn-in by Heritage Mining), and the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

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

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 the execution of a definitive agreement, the completion of the proposed transaction and the receipt of any cash or share payments therefrom, future exploration and development expenditures, the sale of non-core assets, potential mineralization, the realization of mineral resource estimates, the timing and success of exploration activities generally or the completion of a feasibility study, the timing and results of future resource estimates, future driling activities, 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 (including board and stock exchange approvals), the failure to negotiate and execute the Agreement on the terms currently contemplated or at all, 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.

Categories
Junior Mining Precious Metals

Silver Hammer Mining Reports High Grade Silver Samples up to 692 g/t Ag from Rock Chip Sampling at its Silverton Silver-Gold Project in Nevada

VANCOUVER, British Columbia, Nov. 29, 2021 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR/ OTC: HAMRF) (“Silver Hammer” or the “Company”) is pleased to report results from sampling, mapping and detailed hyperspectral satellite imaging programs at the Company’s past-producing Silverton Project (the “Project“), located 129 kilometres (“km“) northeast of the 174-million-ounce* Tonopah silver district in Nevada.

A total of 35 rock chip samples and 111 soil samples were collected from the Project area with highlighted samples assaying up to 692 g/t silver (“Ag“). Soil sampling focused on areas of anomalous gold and silver rock samples collected from a pediment area on the Project. Based on assay results and geological mapping, the Project appears to cover a volcanics-hosted gold system as well as a separate silver-dominated mineral system hosted by silicified limestone.

“We are excited by these results as they are the first clear indication of two mineralized precious metal systems existing on the Silverton Project—one marked by high-grade silver as was recovered from the historical Silverton Mine and the other consisting of disseminated lower-grade gold mineralization,” stated President & CEO Morgan Lekstrom. “Furthermore, we are obtaining surface samples grading up to 692 g/t Ag and numerous additional samples with encouraging silver grades outside of our initial target area. We look forward to refining our target concepts and initiating a first phase of drilling at Silverton in 2022.”

The Silverton Project was acquired along with the Eliza Silver Project (see press release August 9, 2021), which is also located in Nevada along strike from the historic Hamilton mining district. In addition to the new sampling results from Silverton (summarized below), initial exploration and rock chip sample results from Eliza will also be reported during Q4/2021.

Table 1. Highlighted Silver Rock Samples at Silverton
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ff76b62-d6a1-4f43-89bc-faad3f774b26

Assays from the 19 rock chip samples from the west limestone-hosted area ranged from 0.32 g/t Ag to 692 g/t Ag and averaged 63.27 g/t Ag (see Figure 1 below). The 15 rock chip samples from the eastern part of the Project ranged from 0.009 to 15.0 and averaged 3.17 g/t Ag. Previously released samples from the eastern section of the Project believed to host the gold system indicate ranges from 0.06 g/t to 6.1 g/t gold Au.

Table 2: Showing good correlations to limestone for silver
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9869f81-3a60-45da-a776-e203265aa38b

A review of 19 samples on the west side, or limestone-hosted area, showed good correlation between Ag, lead (Pb) and antimony (Sb). This area contained the highest Ag results, and the best correlations to pathfinder elements such as Pb and Sb.

Since acquiring the Silverton property in September, the Company has moved quickly to expand its geological understanding through sampling and geochemistry programs. The rock sampling program has outlined two potential systems suitable for further targeted exploration: the expansion of the historic silver mine and potential high-grade surrounding area and a new potential gold system.

Figure 1. Silverton Silver Samples
https://www.globenewswire.com/NewsRoom/AttachmentNg/5ae7d52a-497c-4209-8d48-f5c015146211

Qualified Person
Technical aspects of this press release have been reviewed and approved under the supervision of Philip Mulholland, P.Geo. Mr. Mulholland is a Qualified Person (QP) under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

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 multimine 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 and CEO

Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada
For further information contact: Kristina Pillon, President, High Tide Consulting Corp.
T: 604.908.1695
E: investors@silverhammermining.com

For media inquiries, contact: Adam Bello, Primoris Group Inc.
T: 416.489.0092
E: media@primorisgroup.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.

*All historic production information from Nevada Bureau of Mines & Geology, Bulletin 51.

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals Project Generators

VOX Royalty – A Smart Way to Hedge Inflation Risk

Maurice Jackson:

Joining us for a conversation is Spencer Cole, the Chief Investment Officer of Vox Royalty. Mr. Cole, great time to be speaking with you as Vox Royalty continues to provide shareholders with a smart way to invest in commodities. Before we begin, Mr. Cole, please introduce us to Vox Royalty and the opportunity the company presents to shareholders.

Spencer Cole:

Vox Royalty is a high-growth, precious metals-focused, mining royalty investment company. The company’s been around for eight years, and over those eight years, we’ve built what we believe is the most unique mining royalty investment company in our entire $70 billion industry. We’re consistently delivering the highest rate of return on invested capital at what we believe is the lowest potential portfolio risk level. Particularly for some of your listeners who are concerned about inflation levels at the moment, we think Vox is a really attractive inflation hedge that offers investors high-organic growth with very low risk.

Maurice Jackson:

Last month, Vox Royalty announced some exciting news for shareholders regarding development and exploration updates from your royalty operating partners. This month appears equally exciting, as Vox Royalty has just announced additional key developments which look to strengthen your royalty portfolio. Beginning in Nevada, take us onto the Gold Standard Ventures South Railroad Gold Project, and provide us with an update on the feasibility study, permitting, and construction financing.

Spencer Cole:

The South Railroad Project is a rapidly advancing gold project in Nevada, which is obviously arguably one of the most pro-mining, particularly pro-gold mining jurisdictions on the planet. The operator just provided an update to the market that they’re rapidly approaching completion of the feasibility study, which is targeted for the first quarter of 20222. Upon the completion that feasibility study, they’re going to move straight into construction financing.

Spencer Cole:

Gold Standard Ventures already has one of the world’s largest mining private equity funds, Orion, who’s given them a $200 million term sheet to fund the construction of the mine. They’ll be looking to go back to other investment groups to see where the best source of financing is so going into early 2022, we expect a huge amount of exciting news flow as to how this project is going to be constructed, and then their management has also provided an update that they expect to receive their final permits to start construction of this project within 18 months, so a really exciting gold project that’s rapidly moving towards production over the coming years.

Maurice Jackson:

Speaking of exciting news for next year, let’s go to Black Cat’s Bulong Gold Project, where they’re looking at a first production guidance in 2022. What can you share with us?

Spencer Cole:

This is an exciting royalty within our portfolio for a few reasons, as you mentioned, the Black Cat Syndicate, which is the operator of this Bulong Gold Project, they just reiterated guidance. They’re expecting this gold mine to be in production in the second half of 2022, so investors can look forward to the royalty revenue possibly late next year. But a cherry on the cake, so to speak, with this royalty, is not only is the company actively moving this project forward towards production next year, but they’re aggressively drilling out the land package. On an annualized basis, they’re drilling over 80,000 meters on this land package. So not only are investors looking forward to, I guess, near-term royalty revenues on this property, but also, there’s likely to be a huge volume of discovery news flow over the coming months and quarters as they continue that drilling campaign.

Maurice Jackson:

We’ve covered gold. Let’s discuss silver and platinum group metals, beginning with silver at the Bowdens Silver Project by Silver Mines. How’s their drilling and development campaign coming along?

Spencer Cole:

It’s coming along extremely well. For readers who aren’t aware of the Bowdens Project, it’s the largest primary silver project in all of Australia. On a silver equivalent basis, there are approximately 275 million ounces of silver equivalent resources in the ground here, so just an extremely large ore body. The operator, Silver Mines, is working through final permitting at the moment. They’re also progressing an expansion case, looking at a high-grade underground that would go on top of the open pit operation. We expect that this project is rapidly heading towards a construction decision with final permits in hand next year. The managing director of the operator was recently quoted on Bloomberg as saying he personally believes there’s potential for this ore body to triple in size. So what is already a monstrously large silver deposit, the managing director of the operator thinks there’s a multiple of this potential in the ground, which is even more exciting for our investors.

Maurice Jackson:

Finally, my favorite metals, the Platinum Group Metals. What are the latest developments coming from ValOre?

Spencer Cole:

This is another exciting royalty within our portfolio of 54 royalties, The Pedra Branca Project, is ValOre’s flagship asset, it’s also the largest Platinum Group’s metal project and deposit in all of South America. ValOre has been aggressively drilling this property out, so they’ve been doing approximately a 10,000-meter drilling program this year, and our expectation from management is that they’re preparing for a resource update in the coming months. We look forward to seeing the size of this resource grow, and then for this project to continue to move along down the development pathway towards production over the coming years. So all eyes are on the resource update that we expect in the next few months.

Maurice Jackson:

Mr. Cole, as you look back at 2021 and then forward onto 2022, Vox Royalty, in many regards, has exceeded expectations in terms of your development, discovery drilling, and bolstering your royalty portfolio. Vox Royalty is on track for a record year on moving projects into production. Can you comment further on that?

Spencer Cole:

2021 has been a transformational year in Vox’s eight-year history. We’ve increased the number of producing royalty assets that we have in our portfolio to five. We’ve had record volumes of partner-funded drilling on our royalty properties. We’ve had a record number of projects, I guess, moving forward into sort of development stage as well, supporting the near-term growth potential as well. But then importantly for investors, as we look ahead towards next year, 2022, we expect that a lot of that key organic growth is even going to be outpaced and set to continue going into next year.

Spencer Cole:

Just by way of example, there are three additional projects that we expect to commence production next year that are in varying stages of construction currently. There are four separate feasibility studies that we expect to be released next year. The volume of drilling on our royalty properties, we expect that will achieve a new record in 2022 as well. So for Vox shareholders, they can look forward to a huge volume of organic growth in revenue and underlying development within our royalty properties without any additional capital required to acquire those royalties.

Maurice Jackson:

Now, before we leave the property bank, what is the next unanswered question for Vox Royalty? When can we expect a response and what determines success?

Spencer Cole:

I think as we touched on in our last interview, I think the main catalysts that investors continue to be excited about in Vox is just the organic growth within our portfolio and what that means for our revenue projections. As I touched on, we’ve seen a huge volume of growth on a number of our producing royalties. When we went public last year, we only had one producing royalty asset. And look, that was one criticism of the company, that people wanted us to have more producing assets, and where we stand today, we’ve now got five producing royalty assets. Organically, without spending any additional capital on new royalties, we expect that will increase from five producing royalty assets to 10, and north of 10 by late 2023.

Spencer Cole:

What is the unanswered question is how soon will those new royalty assets come into production and what does that mean for revenue, which has already been growing at quite a substantial rate? I think the great news for our investors is they don’t need to wait a very long time. This is a matter of months and quarters as they continue to see that growth organically within the portfolio, the incremental revenue that’s going to come from those producing operations.

Maurice Jackson:

Let’s look at some numbers. Sir, please provide us with the capital structure for Vox Royalty.

Spencer Cole:

We have a very tight capital structure at Vox. with less than 40 million shares on issue. We are in a net cash position on our balance sheet. Our total working capital is approximately nine million on the balance sheet between cash and listed investments. Vox has very strong balance sheet and we are very, very careful about not issuing stock. We, as management, own about 15 percent of the company, and our family members own additional stock on top of that, so this is very much an investor-led and managed business, where management is fully aligned with our investor group.

Maurice Jackson:

In closing, Mr. Cole, what would you like to say to shareholders?

Spencer Cole:

Thanks for the shareholders’ and listeners’ time today. I’d strongly encourage you to have a look at the Vox Royalty website. We’re on the cusp and continuing to deliver on a strategy that is high growth but low capital intensity, where we’re offering incredible returns at very disciplined prices. Particularly in this inflationary environment that we find ourselves in today, getting exposure to a portfolio of base and precious metal assets, such as Vox has in its portfolio, is a really smart way to hedge inflation risk. So I strongly encourage investors, particularly those that are worried about inflation, to seriously consider having a look at Vox Royalty in more detail.

Maurice Jackson:

Last question, sir. What did I forget to ask?

Spencer Cole:

I believe we’ve covered it all today. 

Maurice Jackson:

Mr. Cole, for readers that wish to learn more about Vox Royalty, please share the contact details.

Spencer Cole:

Please visit our website www.voxroyalty.com.

Maurice Jackson:

Mr. Cole, it’s been a pleasure speaking with you. Wishing you and Vox Royalty the absolute best, sir.

Before you make your next bullion purchase, contact me at 855.505.1900 or email maurice@milesfranklin.com. I’m a licensed representative for Miles Franklin Precious Metals Investments, where we provide a number of options to expand your precious metals portfolio from physical delivery to offshore depositories and precious metal IRAs. Finally, we invite you to subscribe to www.ProvenandProbable.com, where we provide Mining Insights and Bullion Sales.

The information presented on Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The information is not intended to be and does not constitute financial, investment or trading advice, or any other advice. You should not make any financial investment or trading decision based on any of the information presented without first undertaking independent due diligence and consultation with a professional broker or competent financial advisor.

Categories
Base Metals Precious Metals

Vox Royalty Reports Third Quarter 2021 Results

TORONTO, Nov. 22, 2021 /CNW/ – Vox Royalty Corp. (TSXV: VOX) (OTCQX: VOXCF) (“Vox” or the “Company“) is pleased to announce its operating and financial results for the third quarter ended September 30, 2021. All amounts are in U.S. dollars unless otherwise indicated.

Vox Royalty Logo (CNW Group/Vox Royalty Corp.)
Vox Royalty Logo (CNW Group/Vox Royalty Corp.)

Kyle Floyd, Chief Executive Officer stated: “The third quarter of 2021 saw multiple royalty-linked production records, organic growth to 5 producing royalties and record trading liquidity. Based on strong Q3 royalty revenues, Vox remains on track to meet the upper-end of 2021 annual revenue guidance of C$4M – C$5M, which was doubled in July 2021. Growing investor interest in Vox’s high-growth asset portfolio and disciplined focus on sector-leading returns has been further validated through the initiation of additional independent research coverage by Laurentian Securities earlier this month. Vox shareholders can look forward to catalyst-rich upcoming quarters as the company continues its rapid organic growth from 5 to 10 producing assets by late 2023.”

Third Quarter 2021 Highlights

  • Revenue of $1,223,493 reported for the quarter, with record Q3 2021 royalty-linked gold production from the Hidden Secret deposit at Higginsville covered by the Dry Creek royalty and record royalty-linked iron ore production volumes from the Koolyanobbing royalty;
  • Increased producing royalty count to 5 assets following achievement of commercial production at the Segilola Gold Mine, as reported by Thor Explorations Ltd. (TSXV: THX) on October 5, 2021;
  • Commencement of construction of the Binduli North heap leach expansion, which includes three key open pits covered by the producing Janet Ivy gold royalty, as disclosed by Zijin Mining Group Co., Limited on August 1, 2021;
  • Award of a A$73M construction contract for the Mt Ida gold project in Western Australia, as announced on September 9, 2021;
  • Record positive cash flows from operating activities of $1,346,103 for the quarter;
  • Strong balance sheet position at period end, including cash on hand of $4,671,606, working capital of $7,842,890 and total assets of $28,109,626;
  • Under the Company’s normal course issuer bid, Vox purchased and cancelled 454,400 common shares at an average share price of C$2.81; and
  • Commenced trading on the OTCQX on August 10, 2021.

Summary of Quarterly Results

Three monthsendedSeptember 30, 2021Three monthsendedSeptember 30, 2020Nine monthsendedSeptember 30, 2021Nine monthsendedSeptember 30, 2020
$$$$
Statement of income (loss) and comprehensive income (loss)
Revenues1,223,49310,2523,077,50310,252
Gross profit946,7115,4862,479,4695,486
Net income (loss)(1,251,384)(2,284,933)188,893(7,479,939)
Net income (loss) per share(0.03)(0.07)0.01(0.26)

For complete details, please refer to the Unaudited Condensed Interim Consolidated Financial Statements for the three and nine months ended September 30, 2021 and 2020 and associated Management Discussion and Analysis for the three and nine months ended September 30, 2021, available on SEDAR (www.sedar.com) or on the Company’s website (www.voxroyalty.com).

About Vox

Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.

Further information on Vox can be found at www.voxroyalty.com.

Cautionary Note Regarding Forward Looking Information

This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”, “estimates” or “intends” or stating that certain actions, events or results ” may”, “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.

The forward-looking statements and information in this press release include, but are not limited to Vox’s anticipated outlook for the fiscal 2021 year, completion of certain anticipated milestones, transactions and developments by the operators of certain underlying projects and mines in respect of Vox’s royalty and stream portfolio, anticipated future cash flows, future financial reporting by Vox, the receipt of payments from Vox’s mining royalty and streaming portfolio, and the completion of mine construction, production and expansion under construction phases at the mines or properties that Vox holds an interests in.

Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control over the mining operations from which Vox will receive royalties, including risks related to international operations, government relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the uncertainties involved in interpreting exploration data; the potential for delays in exploration or development activities; the geology, grade and continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future exploration, development or mining results will not be consistent with Vox’s expectations; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees and other related risks and uncertainties. Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing list of material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.

Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.

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

Technical and Third-Party Information

Except where otherwise stated, the disclosure in this press release is based on information publicly disclosed by project operators based on the information/data available in the public domain as at the date hereof and none of this information has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the royalty operations. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from the project operators is complete or accurate. Some information publicly reported by the project operators may relate to a larger property than the area covered by Vox’s royalty interests. Vox’s royalty interests often cover less than 100% and sometimes only a portion of the publicly reported mineral reserves, mineral resources and production of a property.

SOURCE Vox Royalty Corp.

Categories
Junior Mining Precious Metals

Metallic Minerals Announces Completion of Exploration Programs at Keno Silver Project and $1.56 Million Warrant Exercise by Resource Investor Eric Sprott

VANCOUVER, BC / ACCESSWIRE / November 22, 2021 / Metallic Minerals (TSX.V:MMG | OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the successful completion of its 2021 exploration programs at the Company’s 100%-owned Keno Silver project, adjoining Alexco Resource’s high-grade silver mines in the Keno Hill silver district of Yukon, Canada. The multi-phase program consisted of Reverse Circulation (“RC”) and diamond core drilling, Induced Polarization (“IP”) geophysics, surface sampling, and district-wide stratigraphic and structural mapping across the 35-kilometer-wide district. The program, which began in June, was the Company’s most extensive exploration campaign on the project to date, with 53 holes totalling nearly 6,200 meters (“m”) along with 20.3 line-kilometers of deep-penetrating IP geophysical surveys.

The 2021 Keno Silver work program was designed to achieve a number of important objectives:

  • Expand the extent of drill-defined mineralization at the advanced target areas in the central and western parts of the Keno Hill silver district, namely Caribou, Homestake, and Formo towards initial resource estimates;
  • Conduct follow-up drilling at the new discovery areas identified at East Keno in 2020 in order to begin to define the scale of mineralization along trend and to depth within these multi-kilometer-scale soil and geophysical targets;
  • Complete first-pass reconnaissance drilling on additional untested multi-kilometer-scale targets in the eastern and central parts of the district; and
  • Use new deep-penetrating IP geophysics, in conjunction with detailed surface mapping, to more accurately determine the potential scale of these newly identified mineralized systems.

Metallic Minerals’ 166 square kilometer Keno Silver project is the second-largest land position in one of the world’s highest-grade silver districts, directly adjoining the operations of Alexco Resource Corp. The Keno Hill silver district has nearly 300 million ounces of silver in past production1 and current M&I resources2, with excellent existing infrastructure, including grid power, road access and nearby community services. The restart of mining operations at Keno Hill was the third mining operation to start producing in the Yukon Territory over the past two years.https://s.yimg.com/rq/darla/4-10-0/html/r-sf-flx.html

Greg Johnson, Chairman and CEO, stated: “We are very pleased with what we were able to achieve from the largest program to date at our flagship Keno Silver project. Our team made significant progress at the advanced-stage target areas in Central and West Keno and completed ground-breaking work that significantly enhanced our understanding of the geologic controls related to the new discovery areas at East Keno. The combination of the new insight that has come from the recognition of the much greater importance of regional-scale thrust faults with epithermal style silver mineralization and the very compelling data from the deep-sensing IP survey demonstrates that we have a highly effective tool kit for exploration in the under-explored parts of this prolific, high-grade silver district.”

“After an extraordinarily active period for the Company, the 2021 field season, which included significant campaigns on three separate projects, has concluded at our flagship Keno Silver Project, and will soon be wrapping up at our La Plata silver-gold-copper and Klondike alluvial gold projects. Significant and substantive news flow is expected to follow, including IP and drill results from Keno Silver, drill results from La Plata and updates with respect to activity on our holdings in the Klondike goldfields. In addition, we are seeing a recognition in the marketplace of the importance of our metals of focus as important for the transition towards non-carbon-based energy and as hard-asset stores of value and natural inflation hedges.”

“We would also like to acknowledge that Mr. Eric Sprott has exercised all of his Metallic Minerals common share purchase warrants from the Company’s October 2019 private placement financing for total proceeds to the Company of $1,562,500 CDN. Following the completion of the warrants exercise, Mr. Sprott (through 2176423 Ontario Ltd., a corporation which is beneficially owned by him) holds and controls 21.5 million shares, representing over 16% of the issued and outstanding shares on a non-diluted basis. We appreciate the continued support of Mr. Sprott, our largest shareholder, and this recent warrant exercise will aid the continued advancement of our exciting projects.”

2021 Exploration Program Overview

The 2021 Keno Silver drill program was designed to follow up on the successes of the 2020 program by building on the discoveries at East Keno and continuing to expand drill-defined mineralization at advanced-stage targets in the central and western parts of the Keno Hill silver district. In 2020, RC drilling intercepted significant silver mineralization in 26 of 30 reconnaissance holes, which effectively expanded the known extent of drill-defined mineralization by 10 kilometers to the east and demonstrated the potential for major new discoveries in this underexplored part of the district.

Drilling in 2021 was comprised of a two-phase program, beginning with a first phase of RC drilling focused on reconnaissance drilling of untested soil and geophysical targets, along with follow-up drilling along strike and down dip on the new East Keno discoveries. The phase one program included 4,300 m of RC drilling in 45 holes focused on the East Keno and Central Keno target areas. This was followed by a second phase of deeper diamond core drilling program totalling 1,900 m in 8 holes in the East Keno and West Keno target areas.

In addition to the focused drill program, Metallic Minerals undertook a comprehensive effort to expand the coverage of its detailed geologic and geophysical data coverage, particularly over the less-explored eastern half of the Keno Hill silver district where the Company has identified 12 separate multi-kilometer-long high-level soil and magnetic anomalies. This effort included district-wide stratigraphic and structural mapping focused in these important target areas for exploration and led to the identification of previously unrecognized regional scale thrust fault structures and associated styles of epithermal mineralization which have major implications for bulk tonnage potential that has not been previously investigated in the Keno Hill silver district.

In conjunction with the detailed geologic mapping program, Metallic Minerals completed the first-ever application of deep-sensing IP geophysics using Simcoe Geoscience’s Alpha IPTM system. This system has been used with great success on other Metallic Group projects and has the capability to image down to more than 800 meters depth from surface. Five separate multi-kilometer IP profiles were collected over the discovery areas at East Keno, as well as other targets in the central part of the Keno district, covering significant soil and magnetic anomalies. The 2021 survey was successful in identifying major conductive features that are spatially associated with areas with kilometer-scale soil and magnetic anomalies and with newly mapped regional thrust faults. The surveys yielded 35 high-priority targets that will be investigated in the upcoming 2022 program. Additional review and interpretation of this data is underway and a detailed discussion of the IP survey results, including relevant structure images, is expected in a subsequent news release.

The following provides a snapshot of the activities completed at each of the major target areas on the Keno Silver project and are presented in the order that assay results are anticipated to be received and reported:

Central Keno

Drilling activity in 2021 began in the Central Keno target area, which covers the central 12 km of the 35 km wide Keno Hill silver district and includes 90 million ounces of past production1 and current M&I resources2 from 8 separate deposits, including the namesake Keno Hill mine. A total of 37 RC holes were completed in the Central Keno target area which focused on expansion of drill defined mineralization at the advanced stage Caribou and Homestake targets, along with step-out drilling along trend and within several newly identified soil anomalies that remain open along trend from historically drilled areas. Two deep IP lines were also completed across the area which identified significant conductive features that spatially correspond with regional scale thrust fault structures and associated epithermal style silver mineralization.

Assay results remain pending, and additional drilling is already planned at Caribou and Homestake in 2022 to advance both areas towards an initial resource estimate.

East Keno

Drilling in the East Keno target area included 12 RC and diamond core holes and focused on step-out drilling along trend and down-dip of the discovery zones intersected in 2020 at Fox, Zone 2 and UKHM, in addition to reconnaissance drilling at the previously untested North Fox and West Cobalt targets. Metallic Minerals’ drilling at East Keno has confirmed the presence of significant high-grade and bulk tonnage silver mineralization in this underexplored part of the Keno Hill silver district.

Two 6-kilometer-long IP lines were completed over East Keno with one survey over the greater Fox target area (Fox to UKHM) and a second over the West Cobalt to Cobalt target area. The IP lines identify a number of major conductive anomalies that are open to depth and that spatially overlap with multi-kilometer soil anomalies, mapped regional scale thrust structures and epithermal style mineralization.

Drilling at East Keno in 2021 has confirmed the presence of significant structural zones with epithermal style mineralization with continuous structural zones exceeding 100 meters in thickness that correspond spatially with conductive anomalies in the IP geophysics. Follow-up 3D modelling will be completed on the 2020 and 2021 drilling at East Keno to better determine the geometries of this major new discovery area and to vector towards areas with the highest silver grades and thickness. Assay results remain pending.

West Keno

In April, the Company announced the first results from modern drilling at the advanced-stage Formo target, where diamond drill holes intercepted very high-grade Keno-style silver mineralization, which remains open to expansion in all directions. Formo is the site of an historical high-grade open-pit mine that saw production from the 1920s and 30s. Metallic Minerals drilled four additional diamond core drill holes this fall at Formo to test the extension of drill-defined high-grade mineralization along strike and down dip. Two new targets have been also identified along the same structural corridor within parallel greenstone sills and will be the target of drilling in 2022. Assay results remain pending, and additional drilling is planned at Formo in 2022 to advance this area towards an initial resource estimate.

Detailed mapping at the Silver Queen target has demonstrated a close relationship between regional thrust faults and epithermal-style silver mineralization at West Keno. The adjacent Silver King deposit, which was one of the highest-grade mines in the Keno Hill silver district, is also dominantly epithermal-style mineralization. These findings will be incorporated into new modelling and drill targets for West Keno in 2022.

About the Keno Silver Project

Exploration by Metallic Minerals at the Keno Silver project continues to systematically build on the Company’s 3D geologic database covering the east, central and western portions of the prolific Keno Hill silver district. The project includes eight high-grade, shallow past-producing mines that have yet to be subjected to modern exploration due to previously unconsolidated land ownership. Along the known, historically productive trends in the central and western parts of the district, the Company has advanced three targets to step-out drilling stage and several additional targets to drill-ready status. In addition, recent exploration has defined 12 new priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored eastern and southern parts of the district where initial drilling has returned significant high-grade Keno-style mineralization as well as identified the potential for bulk-tonnage style silver mineralization.

About Metallic Minerals

Metallic Minerals Corp. is a growth-stage exploration company, focused on high-grade silver and gold projects in underexplored, brownfields mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to exploration in the Keno Hill silver district, La Plata silver-gold-copper district, and Klondike gold district through new discoveries and advancing resources to development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with nearly 300 million ounces of high-grade silver in past production and current M&I resources. In addition, exploration at the recently acquired La Plata silver-gold-copper project in southwestern Colorado is targeting a silver and gold-enriched copper porphyry and adjacent high-grade silver and gold epithermal systems. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.

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, brownfields 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 explorer/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.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Phone: 604-629-7800
Toll-Free: 1-888-570-4420
Website: mmgsilver.com
Email: cackerman@mmgsilver.com

Footnotes

1) Cathro, R. J., Great Mining Camps of Canada 1. The History and Geology of the Keno Hill Silver Camp, Yukon Territory. Geoscience Canada, Sept. 2006. ISSN 1911-4850. 2) Alexco Resource Corp Technical Report, titled “NI 43-101 Technical Report on Updated Mineral Resource and Reserve Estimate of the Keno Hill Silver District” with an effective date of April 1, 2021 and issue date of May 26, 2021.

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.

Qualified Person

The disclosure in this news release of scientific and technical information regarding exploration projects on Metallic Minerals’ mineral properties has been reviewed and approved by Scott Petsel, P.Geo., Vice President, Exploration, who is Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

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 timelines, 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 Metallic Minerals 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. 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 Metallic Minerals 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: Metallic Minerals Corp.