Category: Precious Metals

EMX Royalty Corporation to Submit a Notice of Arbitration to Zijin Mining Group Ltd.

Post author By admin
Post date December 17, 2021

Vancouver, British Columbia–(Newsfile Corp. – December 17, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company“, or “EMX“) reports that it will deliver a Notice of Arbitration to Zijin Mining Group Ltd. (“Zijin”) and its wholly owned subsidiary, Nevsun Resources Ltd. (“Nevsun”) pursuant to the Net Smelter Returns Royalty Agreement dated March 16, 2010 by and between Reservoir Capital Corp. (of which Nevsun is a successor in interest), and Euromax Resources Ltd. (of which EMX is the acquirer of Euromax Resources Ltd’s royalty interest) (“Royalty Agreement”).

The rate of the royalty on the Timok Project in Serbia on the Brestovac East and Durian Potok Licences which cover the Cukaru Peki deposit is stated to be 0.5% (“Royalty Rate”) under the Royalty Agreement. The decision to initiate arbitration arose from recent communication between parties where Zijin indicated to EMX that the Royalty Rate of 0.5% had been reduced to 0.125% and Zijin’s failure to respond to our correspondence challenging this assertion and seeking clarification. Arbitration will be conducted in accordance with the commercial arbitration rules of the Commercial Arbitration Act (British Columbia), in British Columbia, and in accordance with British Columbia law.

The Royalty Agreement contains a provision for the reduction of the Royalty Rate under certain express and specific circumstances, namely, the acquisition by Freeport McMoRan Copper & Gold Inc. or any affiliate of a direct, undivided, ownership interest in the properties that are the subject of the Royalty Agreement, solely by directly incurring certain types of expenditures on the properties. EMX does not believe that the circumstances which would have triggered the reduction of the Royalty Rate have occurred and therefore the Royalty Rate remains at 0.5%. The Royalty Agreement also expressly outlined the circumstances under which the Royalty Rate could not be reduced. The Royalty Agreement has been filed by EMX as a material contract of EMX on www.sedar.com (“SEDAR”).

As it is EMX’s understanding that production has commenced, the Notice of Arbitration is necessary in order to preserve EMX’s rights with respect to its royalty interests. EMX continues to believe that a dialogue and amicable discussions may allow the parties to reach a mutually acceptable outcome prior to the start of arbitral proceedings. The timing and outcome of any such discussions or arbitral proceedings with Zijin are not known at this time. The Company intends to take all necessary steps to protect its interests under the Royalty Agreement and will consider any other actions necessary to ensure its rights are preserved.

Timok Project Overview. The Timok Project’s Cukaru Peki deposit consists of a higher level body of high-grade, epithermal-style copper-gold mineralization referred to as the Upper Zone project, and a deeper body of porphyry-style copper-gold mineralization known as the Lower Zone project. Prior to its acquisition by Zijin, a Pre-Feasibility Study (“PFS”) of the Upper Zone and resource estimate of the Lower Zone was completed by previous owner Nevsun, which was filed in August 2018 under Nevsun’s profile on SEDAR. EMX used the aforementioned PFS as the basis for its NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia dated July 30, 2021 and EMX is unaware of any new, publicly available material scientific or technical information that would make Nevsun’s previous disclosures regarding the PFS inaccurate or misleading.

Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@EMXroyalty.com

Scott Close
Director of Investor Relations
Phone: (303) 973-8585
SClose@EMXroyalty.com

Isabel Belger
Investor Relations (Europe)
Phone: +49 178 4909039
Ibelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements include statements regarding the payment of the royalty under the Royalty Agreement, the Royalty Rate, the outcome of any discussions, dispute or arbitral proceedings between EMX and Zijin and any other steps or actions taken by EMX to protect its rights, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. We are under no obligation to update any forward-looking statements except as required under applicable securities laws. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107930

Tags David Cole, EMX, EMX Royalty, Maurice Jacskon, proven and probable, Scott Close, Timok

Junior Mining Precious Metals

StrikePoint Reports 11.5 g/t Au and 69.4 g/t Ag over 2.0 metres in Channel Samples at Willoughby.

Post author By admin
Post date December 16, 2021

Vancouver, British Columbia–(Newsfile Corp. – December 16, 2021) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the results from surface channel sampling as well as reconnaissance grab samples collected during the 2021 exploration program at the 100%-owned Willoughby gold-silver property, located east of the community of Stewart in British Columbia’s prolific Golden Triangle. The purpose of the channel samples is to provide quality surface assay data over the surface expression of mineralized zones that could potentially be used for a NI43-101 Mineral Resource Estimate for the property.

These results are from seven continuous series of channel samples in steep terrain at the Icefall Zone, collected by experienced climbing geologists and technicians using a hydraulic chisel, from well-exposed bedrock hosting disseminated to massive sulphides, primarily pyrite and pyrrhotite. The samples cover approximately 55 metres of strike and 80 metres of vertical relief along a steep exposure. These samples, along with pending results at other zones on the property, will provide representative assay data for surface expressions projected up-dip from previous and current drilling. Results are pending for channel sampling from the Edge and North zones at Willoughby. Highlights of the channel samples from the Icefall Zone include:

2.94 g/t Au and 31.04 g/t Ag or 3.38 g/t AuEq over 15.0 metres, which includes 11.545 g/t Au and 69.4 g/t Ag or 12.53 g/t AuEq over 2.0 metres (WH21-CH004)
3.21 g/t Au and 16.61 g/t Ag or 3.45 g/t AuEq over 12.0 metres, which includes 4.46 g/t Au over 5.0 metres and 31.23 g/t Ag or 4.82 g/t AuEq over 3.0 metres (WH21-CH007)
1.83g/t Au and 32.62 g/t Ag 0r 2.30 g/t AuEq over 13.0 metres, which includes 8.68g/t Au and 265.0g/t Ag or 12.47 g/t AuEq over 1.0 metre (WH21-CH002)
2.9 g/t Au and 21.42 g/t Ag or 3.21 g/t AuEq over 10.0 metres, which includes 15.45 g/t Au and 74.5g/t Ag or 16.51 g/t AuEq over 1.0 metre (WH21-CH001)

*AuEq calculated using a 70:1 silver to gold ratio.

StrikePoint’s CEO, Shawn Khunkhun, states, “These results provide excellent surface data for modelling of our multiple mineralized zones at Willoughby. Our objective during this year’s program at the Willoughby gold-silver and Porter silver properties was to significantly expand the gold-silver mineralization down-dip and along strike and to test new targets. We are pleased with the quality of work completed and expect the remainder of results before the end of 2021 or in January 2022.“

2021 Willoughby Channel Sampling

Channel sampling at the Upper and Lower Icefall Zones confirmed continuous gold and silver mineralization along all seven channel sample lines. Due to the steep terrain, the channel sample locations are oriented at a variety of oblique angles to the orientation of the Icefall Zone and do not represent true widths. The gold-silver mineralization is hosted in semi-massive to replacement style sulphides, primarily pyrite and pyrrhotite with lesser sphalerite and galena within Jurassic volcanic rocks. Pervasive sericite alteration was consistently observed throughout all channel samples at Icefall, all of which returned intervals of gold and silver mineralization as displayed in Table 1. The 67 channel samples collected average 2.46 g/t Au and 23.28 g/t Ag and range between 0.041 to 15.45 g/t Au and 1.1 to 265.0 g/t Ag, respectively. Results are as follows:

Table 1: Channel sample results showing >1 g/t Au and >10 g/t Ag composite intervals

Channel Sample Line ID	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	AuEq (g/t)
W21-CH-001	0.00	10.00	10.00	2.90	21.42	3.21
Incl.	0.00	7.00	7.00	3.87	23.97	4.21
Incl.	6.00	7.00	1.00	15.45	74.50	16.51
W21-CH-002	0.00	13.00	13.00	1.83	32.62	2.30
Incl.	7.00	11.00	4.00	3.49	82.72	4.67
Incl.	9.00	10.00	1.00	8.68	265.00	12.47
W21-CH-003	0.00	2.00	2.00	1.33	18.10	1.59
W21-CH-004	0.00	15.00	15.00	2.94	31.04	3.38
Incl.	0.00	2.00	2.00	11.54	69.40	12.53
W21-CH-005	0.00	10.00	10.00	1.85	7.81	1.96
Incl.	0.00	5.00	5.00	2.73	10.04	2.87
W21-CH-006	0.00	5.00	5.00	1.69	28.50	2.10
W21-CH-007	0.00	12.00	12.00	3.21	16.61	3.45
Incl.	0.00	5.00	5.00	4.46	25.18	4.82

*AuEq calculated using a 70:1 silver to gold ratio.

Figure 1: 2021 Channel sample locations within the Icefall Zone showing gold equivalent values (AuEq g/t). Reference lines (1-7) represent stations (WH-21-CH001 to WH-21-CH007). Select anomalous gold samples are highlighted with annotated texts.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5044/107796_cb777fb514a3a892_002full.jpg

Results were also received from select grab samples collected at the Icefall Zone during the 2021 season. The nine grabs at Icefall average 5.12g/t Au and 32.64g/t Ag, ranging from trace to 23.69g/t Au and 0.25 to 107.0g/t Ag, respectively.

Figure 3: 2021 select grab samples within the Icefall Zone showing gold equivalent values (AuEq g/t). Select anomalous gold assays are highlighted by annotated texts.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/5044/107796_cb777fb514a3a892_003full.jpg

Willoughby Project

The project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometers east of the advanced-stage Red Mountain Deposit owned by Ascot Resources. Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks underlay the property, subsequently intruded by an early Jurassic-aged hornblende-feldspar porphyry, like and potentially comagmatic with the Goldslide Intrusive suite at Red Mountain. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, and native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometer strike-length mineralized trend.

QA/QC

Using a hydraulic chisel, an approximate 2 by 2-centimetre channel was sampled continuously along 1 metre sample stations. If the hydraulic chisel was incapable of retrieving a chip from a specific location, a hand chisel was used to assist with the chipping within the limits of the 1 metre station. Samples were placed directly into a marked polyurethane bag. Chip observation data was recorded and digitized in the field using MX Deposit.

Surface samples for the 2021 exploration program were labeled and shipped with chain of custody controls to the laboratory. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks, and Duplicates at regular intervals in the sample stream to monitor laboratory performance.

Samples were submitted to ALS Laboratory facility located in North Vancouver, British Columbia, for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into representative sub-samples using a riffle splitter and subsequently, 250g is pulverized. Multi-element analyses were determined by ICP-AES for 33 elements following a 4-acid digestion process. Analysis for gold is by 30g fire assay with atomic absorption (AAS) finish. Samples that returned with gold assays greater than 10 g/t were re-analyzed using a 30g fire assay with a gravimetric finish.. Samples with silver assays higher than 100 g/t are re-analyzed using a fire assay with gravimetric finish.

Qualified Person

The Qualified Person for this news release for National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor to Strikepoint. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, which is adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

For more information, please contact:
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107796

Tags maurice jackson, Porter Silver Project, proven and probable, Shawn Khunkhun, SKP, Strikepoint Gold, Willoughby Gold-Silver Project

Junior Mining Precious Metals

Novo/GBM JV Commences Inaugural Malmsbury Gold Project Diamond Drilling Program

Post author By admin
Post date December 16, 2021

Figure 1

Track mounted diamond drill rig on site at the Malmsbury Project – 14/12/2021.

Figure 2

Malmsbury Project location and major targets in the north of the project area, with geology and historic workings.

Figure 3a

Unidirectional solidification textures (USTs) in the Missing Link Monzogranite on the Malmsbury project

Figure 3b

Unidirectional solidification textures (USTs) in the Missing Link Monzogranite overprinted by gold bearing stockwork quartz veins on the Malmsbury project

Figure 4

soil geochemistry overlying geology.

Figure 5

FALCON® vertical gravity gradient image highlighting the gravity low associated with outcrop of gold mineralized granite. The Leven Star deposit is parallel to and lies on the edge of a major gravity gradient.

HIGHLIGHTS

Commencement of >2,000 m diamond drilling program, testing multiple high-order gold targets at the 50%-owned Malmsbury Gold Project (“Malmsbury Project”), 50 km SSW of the high-grade Fosterville gold mine in Victoria, Australia
Drill targets defined through systematic exploration in 2021 including mapping with alteration vectoring, grid soil and rock chip sampling, historic drill core review/re-sampling and historic data compilation with 3D modelling
The Malmsbury Project is under-explored and highly structurally complex, with multiple orientations of high-grade gold mineralization and in excess of 1,500 historic workings and old trenching
Several target styles are present, including “Fosterville-type” anticline-fault related targets, large scale planar faults and fault breccias, “Woods Point-A1 style” intrusion-hosted orogenic gold targets and an intrusion-related gold (“IRG”) system
Drilling will target a shoot on the Leven Star trend where historic reverse circulation (RC) drilling intersected 7 m @ 4.84 g/t Au (LSCR014) including 3m @ 9.38 g/t Au from 54 m and 4.1 m @ 13.1 g/t Au from 66.3 m (LSDDH08)¹. These historical results are not necessarily representative of mineralization throughout the Malmsbury Project
Within the most complex part of the system, drilling will also target a highly altered gold-mineralized Devonian monzogranite which is rare in Victoria and outcrops over 340 m strike and 40 m width
Forward work program includes a further second phase of drilling in 2022, 2D/3D induced polarization (“IP”) to define disseminated sulphide haloes around various gold targets, further expansion of systematic soil geochemistry, mapping, and rock chip sampling

VANCOUVER, British Columbia, Dec. 16, 2021 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to advise that drilling has recently commenced (Figure 1) on a number of high-priority gold targets (Figure 2) at the Malmsbury Project (RL6587), approximately 50 km SSW of the high-grade Fosterville gold mine. Targeting has relied on significant exploration work conducted by the Novo/GBM team throughout 2021, including detailed 1:500 scale mapping, rock chip and grid soil sampling, 3D modelling and an airborne FALCON^® gravity survey.

Novo acquired a 50% interest in the Malmsbury Project from ASX-listed GBM Resources Limited (ASX: GBZ) (“GBM”) in May 2021 and has the initial right to earn up to an additional 10% interest by incurring A$5 million in exploration expenditure over a four-year period². GBM are currently managing the project.

The historical results and technical information referred to in this news release, published by AuStar Gold Limited (ASX: AUL) (“AuStar”) and included in geologic reports filed on the GeoVIC Earth Resources website, are not necessarily representative of mineralization throughout the Malmsbury Project. This historical data was disclosed in ASX announcements, other public disclosure documents, and exploration reports filed on the GeoVIC Earth Resources website (collectively, “Disclosure”) issued by AuStar and others, as identified in the GeoVIC Earth Resources filings. Certain of the technical information contained in this news release 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 for Novo, and Novo is unaware of the existence of any current 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/a13c2709-16da-4aa7-ad3c-1ab1ed3ce7d8
(Figure 1 – Track mounted diamond drill rig on site at the Malmsbury Project – 14/12/2021.)

Exploration Results and Summary from 2021

Mapping and Petrology – Detailed 1:500 scale mapping was conducted by Novo staff in the first half of 2021, aiding in defining the deep-seated regional Taradale Fault in the west of the Malmsbury Project, four main anticlinal structures trending the length of the project, zones of intense silicification, sulphidation and stockwork quartz veining, and the broad structural framework of the project area. Mapping (Figure 2) has highlighted significant anticlines and mineralized west dipping fault zones similar to the setting of the high-grade Fosterville deposit and extended the Leven Star mineralized trend to the SW of its previous known extent.

Coupled with mapping, historic workings (>1,000) and historic exploration costeans (>500) were field verified (GPS located) and accurately mapped with the aid of high-resolution LIDAR imagery acquired in 2020. Rock chip sampling also relied on mapping and historic workings location for selection criteria.

Importantly, mapping also defined a porphyritic monzogranite intrusion in the Belltopper Hill area with an outcrop expression over 340 m strike and up to 40 m width. The central portion of the granite, known as the Missing Link Granite, has incredible unidirectional solidification textures (“UST”) (Figure 3) typical in the carapace of IRG systems³ and these are overprinted by gold mineralized sheeted to stockwork quartz veins (Figure 3) and intense greisen style alteration defined by petrological studies. The intrusion will be targeted as an IRG system but also as a brittle host to orogenic vein style mineralization, similar to historic deposits including the Morning Star-Woods Point diorite-hosted ladder vein deposit owned by AuStar which produced over 800,000 oz of gold at 26.5 g/t Au tonne⁴.

One historic diamond drill hole (DDHMA3)⁵ intersected the Missing Link Granite, which was not recognized. Assaying of the hole by Novo/GBM, which was collared near the contact of the granite (top 18 m of hole missing as roller bit was used) yielded 23 m @ 0.46 g/t Au (at 0.1 g/t Au cut-off) from 18 m. Surface sampling yielded assay results up to 9.74 g/t Au from quartz veins within the granite.

Rock Chip Sampling – Results for 413 rock chip samples were received throughout the year, providing critical information on gold endowment and multielement associations and providing a useful targeting parameter. Over 17% of the samples assayed >1g/t Au with peak assay results of 27.1 g/t Au and 14.2 g/t Au on the Leven Star trend (Table 1).

Soil Sampling – Results for 474 grid soil samples taken in 2021 were recently received, with a further 150 results pending. Sampling was aimed at infilling older soils grids and expanding coverage across the RL. Approximately 11% of the samples assayed >100 ppb Au with a peak assay of 1.47 g/t Au and 89 ppm Sb. Soil sampling has provided an excellent vector for drill targeting with strong Au, As and Sb anomalies defining key targets (Figure 4). Soil sampling has also defined zoned multielement patterns around the Missing Link Granite with intrusion-related geochemical signatures, including a strong Mo core (Figure 4) zoning outward to Sn, Bi and W and potentially Sb and Au,

The aforementioned results are not necessarily representative of mineralization throughout the Malmsbury Project.

https://www.globenewswire.com/NewsRoom/AttachmentNg/b20c54dc-9cea-4f52-a352-4e871b90c062
(Figure 2 – Malmsbury Project location and major targets in the north of the project area, with geology and historic workings.)

https://www.globenewswire.com/NewsRoom/AttachmentNg/416bea9d-3362-4d6f-9371-bd5c29f0bce0
https://www.globenewswire.com/NewsRoom/AttachmentNg/a39a04c7-c910-40fb-9c4c-ddf11f58277b
(Figure 3 – Unidirectional solidification textures (USTs) in the Missing Link Monzogranite overprinted by gold bearing stockwork quartz veins on the Malmsbury Project.)

FALCON^® Gravity – A FALCON^® airborne gravity gradiometer and aeromagnetic survey was flown in May 2021, totalling 537.6 line kilometres. The gravity survey identified a large gravity low (1.5 x 0.8 km) potentially related to the monzogranite intrusion which crops out in the western edge of the gravity low feature. The Leven Star Lode lies on the edge of and is parallel to the gravity low (Figure 5).

Drilling Program 2021 – 2022

A minimum of 2,000 m of diamond drilling is planned during late 2021 and the first quarter of 2022 to test multiple high-ranking targets (Figure 2).

Drilling will target a shoot on the Leven Star Lode where historic reverse circulation (“RC”) drilling intersected 7 m @ 4.84 g/t Au (LSCR014) including 3 m @ 9.38 g/t Au from 54 m¹. Drilling will also test up and down dip positions adjacent to high-grade intersections on the main Leven Star Lode for deposit extension and metallurgical test work purposes.
As a preliminary test, one 350 m drill hole will extend west along the Leven Star Lode to intersect the junction of a number of mineralized trends including Leven Star, Panama South and Missing Link (Figure 2). Surface mapping and soil and rock chip sampling have highlighted strong gold and multielement geochemistry and intense sheeted quartz veining and silica alteration are present at surface.
The newly discovered Missing Link Granite, including Missing Link and Hanover West historic reefs (Figure 2) will be drill tested with one 400 m drill hole as an initial scout to identify the geometry and gold endowment of the monzogranite at depth. As stated above, the intrusion will be targeted as an IRG system but also as a brittle host to orogenic vein style mineralization.
The Never Despair historic workings are centred on a convergence of four separate reefs. Rock chip sampling from waste rock spoils yielded consistent grades averaging 1.96 g/t Au and 260ppm Sb and peak results of 5.66 g/t Au. Drilling will aim to intersect the target down plunge at depth
Drilling of two holes initially will test beneath the Queens-Egyptian and O’Connor’s Historic reefs to test down dip continuity of high-grade historic reefs.

The aforementioned results are not necessarily representative of mineralization throughout the Malmsbury Project.

https://www.globenewswire.com/NewsRoom/AttachmentNg/7162289e-e591-4047-82bd-724424e75ea1
(Figure 4– soil geochemistry overlying geology.)

https://www.globenewswire.com/NewsRoom/AttachmentNg/555055d9-6fb4-49b7-b3f1-924bebabd4cd
(Figure 5 – FALCON^® vertical gravity gradient image highlighting the gravity low associated with outcrop of gold mineralized granite. The Leven Star deposit is parallel to and lies on the edge of a major gravity gradient.)

Forward Work Program 2022

Subsequent to the 2,000 m drilling program, future work programs include a further second phase of drilling in late 2022, IP to define disseminated sulphide haloes around various gold targets including potential IRG mineralization, further expansion of systematic soil geochemistry, mapping and rock chip sampling.

Analytic Methodology

Soil sampling is 20 to 60 cm depth B horizon sampling sieved to -80 mesh at the lab and analysed at ALS Brisbane for Au using four acid digest 30g charge fire assay with ICPAES finish (method Au-ICP21) and multielements using four acid digest Super Trace Lowest detection limit ICPMS (method ME-MS61L).

Rock chip samples and drill core is assayed at ALS Brisbane using the using four acid digest ore grade 30g charge fire assay with AA finish (method Au-AA25) and multielements using four acid digest ICPMS (method ME-MS61) after pulverization.

QAQC for soil samples is completed at the rate of 4 field duplicates, 2 standards and 2 blanks per 100 samples. QAQC for rock chip samples and drill core was completed at the rate of 3 standards and 3 blanks per hundred samples.

To date, there have been no limitations to the verification process and all relevant data has been verified by a qualified person as defined in NI 43-101 by reviewing analytical procedures undertaken by the various laboratories.

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, that the drilling and future work programs described in the news release will be undertaken at the Malmsbury Project. 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.

Table 1 – 2021 exploration program rock chip assay results >1 g/t Au

Sample	North GDA94 Z55	East GDA94 Z55	Au ppm	Ag ppm	As ppm	Bi ppm	Mo ppm	Sb ppm	W ppm
MR0483	5880458	264166	27.1	1.69	14350	23.5	7	5610	1
MR0784	5880804	263840	16.7	0.63	563	553	14	35	43
MR0435	5879965	263401	14.65	1.03	2630	1.56	1	14	31
MR0762	5880283	263920	14.55	0.25	2000	0.5	1	8510	3
MR0814	5880075	263757	14.2	0.2	4380	19.7	3	80	111
MR0450	5880626	263665	9.74	0.04	1660	78.2	112	220	69
MR0804	5880359	263718	9.53	0.49	931	212	41	30	16
MR0811	5880184	263360	8.35	1.76	3840	52.6	3	649	32
MR0725	5880489	263374	6.89	0.2	2510	4.71	1	121	57
MR0761	5880296	263932	6.06	0.07	1255	15.3	1	122	22
MR0505	5880975	263544	5.49	0.1	2100	4.87	1	22	12
MR0793	5880724	263887	5.41	0.04	1840	70.6	19	206	169
MR0695	5880751	263491	5.01	0.15	1415	5.38	1	52	33
MR0521	5880053	263604	4.83	5.71	48.1	1100	4	58	73
MR0737	5880570	264026	4.82	0.33	245	704	38	379	450
MR0428	5880842	263471	4.55	0.16	2890	8.97	2	8	15
MR0433	5880067	263374	4.43	0.22	1675	12.7	1	64	9
MR0511	5880248	263523	4.11	3.54	1530	32.6	16	182	18
MR0764	5880287	263904	3.44	0.01	215	0.93	1	24	6
MR0724	5880431	263377	2.96	0.28	1290	24	5	123	27
MR0723	5880356	263366	2.94	0.09	1440	2.36	1	57	29
MR0437	5879889	263429	2.9	0.32	2080	1.88	1	20	397
MR0606	5882231	264015	2.78	0.04	3140	0.27	0	42	13
MR0514	5880263	263535	2.76	1.85	6520	2.59	3	116	29
MR0430	5880849	263506	2.69	0.49	951	938	20	15	6
MR0835	5880148	263708	2.57	0.11	1610	16.8	12	158	225
MR0489	5880945	263989	2.41	1.45	6420	2.7	6	25	8
MR0697	5880684	263399	2.37	0.11	4060	150	3	101	14
MR0791	5880726	264043	2.36	0.25	849	723	99	17	309
MR0692	5880778	263567	2.34	0.04	2540	1.1	2	26	670
MR0446	5880780	263477	2.27	0.22	5230	2.14	4	14	12
MR0707	5880563	263519	2.25	0.01	3050	5.91	85	1885	366
MR0649	5881292	263796	2.24	0.63	2080	11.8	56	9	32
MR0507	5881000	263538	2.23	0.16	2280	1.76	0	16	25
MR0524	5880014	263656	2.23	0.52	2060	211	5	68	195
MR0420	5880823	263473	2.04	0.1	3820	2.41	12	13	16
MR0476	5880346	264379	2.04	1.05	547	574	20	1480	5
MR0613	5881734	263634	2.02	0.03	1380	0.27	0	22	6
MR0712	5880477	263467	1.97	0.03	1020	2.44	6	26	19
MR0850	5880349	263562	1.88	2.7	1760	844	18	605	291
MR0767	5880356	263949	1.84	0.29	1210	55.3	19	40	75
MR0442	5879831	263475	1.83	0.4	4350	2.16	0	7	16
MR0485	5880486	264160	1.82	0.18	1650	7.94	0	710	3
MR0711	5880474	263501	1.78	0.37	3850	1.2	14	26	31
MR0475	5880364	264376	1.77	1.22	189	1.11	5	103	35
MR0848	5880358	263559	1.76	0.2	499	32.4	4	37	20
MR0672	5880900	263603	1.65	0.1	2210	1.83	0	15	10
MR0847	5880417	263515	1.6	0.17	1335	16.6	4	193	88
MR0796	5880796	263965	1.59	0.18	2060	437	15	26	85
MR0445	5880781	263479	1.58	0.27	1880	236	9	17	7
MR0616	5881799	263725	1.54	1.81	1500	57.5	1	47	8
MR0716	5880451	263451	1.48	0.02	2060	8.4	3	16	25
MR0813	5880083	263763	1.46	0.63	1120	180	33	62	78
MR0627	5881588	263817	1.45	0.21	2430	2.14	0	84	17
MR0538	5880487	263692	1.42	0.02	1290	10.6	117	76	14
MR0787	5880830	263904	1.4	0.13	1620	102	34	15	46
MR0559	5881314	263809	1.39	0.12	1370	54.2	1	159	38
MR0732	5880600	263991	1.39	0.17	1480	267	31	27	100
MR0506	5880992	263542	1.37	0.09	1040	0.81	1	7	7
MR0460	5880543	263691	1.36	0.03	1930	20.6	76	29	32
MR0451	5880636	263667	1.33	0	999	28.1	51	39	76
MR0754	5880700	263825	1.3	0.05	4900	1.14	10	45	142
MR0805	5880341	263732	1.26	0.08	1605	30.7	39	265	48
MR0550	5881316	263999	1.25	0.27	1480	1.05	1	10	15
MR0714	5880462	263452	1.22	0.05	2140	64.5	11	50	25
MR0474	5880392	264370	1.2	0.51	544	89.1	10	18	65
MR0438	5879888	263436	1.18	0.39	1390	18.3	9	40	200
MR0685	5880998	263348	1.18	0.27	629	0.74	19	176	3
MR0590	5881571	263997	1.09	0.04	233	0.03	1	7	5
MR0465	5880522	263676	1.07	0	284	14	18	59	10
MR0512	5880258	263523	1.07	0.3	2400	5.96	314	2940	7
MR0530	5879836	263475	1.05	0.11	3380	2.21	0	6	10
MR0799	5880535	263726	1.01	0.84	508	128	11	14	175
MR0520	5880054	263608	1	6.88	120.5	381	12	23	113

___________________________________

1 Refer to relevant reports filed on the Geological Survey of Victoria’s website.

2 Refer to the Company’s news release dated May 13, 2021.

3 Kirwin D.J., 2005. Unidirectional solidification textures associated with intrusion-related Mongolian mineral deposits, IAGOD Guidebook Series pp 63-84.

4 Refer to AuStar’s public disclosure record which is available here.

5 Refer to relevant reports filed on the Geological Survey of Victoria’s website.

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Tags Novo Resources, NVO, Quinton Hennigh

Junior Mining Precious Metals

Provenance Gold Adds Historic Ounces at $.50 an Ounce

Post author By admin
Post date December 15, 2021

Bob Moriarty
Archives
Dec 15, 2021

Tax Loss Silly Season will end shortly. And Saturday December 18th is a full moon. December 15th is when the Fed makes an important announcement. Gold may just wake up soon.

I wrote about Provenance Gold (PAU-C) back in July. It is one of the few stocks that have actually bucked the tide and is 40% higher today. The stock has been pretty much range bound and I think will break loose soon. Hopefully to the upside.

Everyone has an opinion about National Instrument 43-101. After Bre-X blew up in 1997 after massive fraud in salting the samples, the Canadian government realized they needed strict regulation of how mineral resources were reported.

As a result, resources reported prior to 43-101 and non-current resources are termed “historical.” But that doesn’t mean they are utterly worthless. They can give an investor some sort of feel for what might be possible on a deposit.

On December 14th Provenance Gold announced an option agreement for them to purchase the Eldorado Property from Nevada Select Royalty, itself a subsidiary of Gold Royalty Corp (NYSE-GROY). Provenance is paying a total of $2 million USD for 100% of the project subject to a 3% NSR.

Prior results were exceptional with one hole from surface of 69 meters showing 3.05 g/t Au, 185 meters of 1.57 g/t Au another 101 meters of 2.02 g/t Au and 55 meters of 2.33 g/t Au.

The Eldorado project is located in Eastern Oregon. The fruits and nuts are all located in Western Oregon. I’m told some of the people in Eastern Oregon work for a living and are actually sane. I don’t have any information as to how large the project is or the exact location.

Work began on the project in 1980 and the property went through a series of different owners and operators. There has been a total of 21,866 meters of drilling in 236 RC holes and six core holes. Billiton Minerals showed a historical resource of 776,000 ounces at an average grade of 0.75 g/t Au in 1989. The property was then operated by Ican Minerals who did an additional 49 holes over the 150 already completed by Billiton. Ican first showed a resource of 1,860,000 ounces at 0.76 g/t Gold and then revised the resource to show a total of 4 million ounces. There has been no work completed on the deposit since 1998.

Of course Provenance will sample and drill in an attempt to verify that resource. Should it prove accurate it means today’s investors can scoop up ounces of gold for $.50 an ounce. Using a term popular in Eastern Oregon, that would be an, “El Goodo, Dealo.”

Rauno Perttu, the CEO of Provenance is an Oregon registered engineering geologist familiar with that area of the state and with Oregon geology. The terms of the deal are back end loaded so Provenance has only paid $75,000 so far and has a $125,000 payment due a year from now with four more years to complete the purchase. I would expect them to aggressively work on the project.

Of course Provenance continues their work in Nevada on three major projects there. I have spoken at length with management and this is a real mining exploration company that wants these projects in production.

I have bought Provenance shares in the open market and participated in their last private placement so I have to be biased. I do expect a placement in the company soon to get cashed up. Do your own due diligence.

Provenance Gold Corp
PAU-C $.15 (Dec 14, 2021)
PVGDF-OTCQB 74.5 million shares
Provenance Gold website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Tags 321gold, bob moriarty, PAU, Provenance Gold, PVGDF

Junior Mining Precious Metals

Silver Bullet Mines Reports 6,174 g/t Silver and 18 g/t Gold at Its Washington Mine in Idaho

Post author By admin
Post date December 15, 2021

Burlington, Ontario–(Newsfile Corp. – December 15, 2021) – Silver Bullet Mines Corp. (TSXV: SBMI) (“SBMI” or “the Company”) is pleased to announce the first technical disclosure on its work at the Washington Mine on patented lands in the prolific placer gold district in Idaho (the “Property”). Three rounds of sampling were carried out and are reported below.

The results from these rounds provided confirmation of the high grade nature of the Property’s mineralization potential; direction for the development of a bulk sampling program; and, discovery of parallel mineralized structures. These sets of results indicate the potential for the development of early production from the site through bulk sampling and for the ongoing discovery and development of additional silver and gold resources.

History

The references below to data and observations derived from work not carried out by SBMI is of historical nature only and cannot be relied upon at this time. SBMI does not know the methods by which such work was carried out, or whether all or part of it was under the supervision of a Qualified Person, as that term is defined in NI43-101. SBMI refers to such data and observations to inform its knowledge of the area and to support its thesis for exploration.

The Property first saw production in the late 1800’s with an average gold grade of one ounce per ton. It again produced in the 1930’s during which the then-owner lacked the process capability needed to produce silver, so a decision was then made to block out the silver mineralization with the intention of returning at a future date to process the silver. To the best of SBMI’s knowledge, that never happened. A report included an estimate of 3 million ounces of silver with a grade of 30 to 90 ounces per ton and 15,000 ounces of gold at 0.3 ounces per ton for the veins identified on the Property at the time. Further work must be carried out to confirm the precise location of those veins and the property boundaries at the time. (Source, “Geological Evaluation”, Roger G. Stoker, P.G. and Ryne C. Stoker, Student Geologist, Energy Services Inc., December, 1981.)

In the 1980’s the previous owner reopened the underground and produced a bulk sample claimed to be representative of the silver mineralization in the Washington Vein. The bulk sample was sent to Hecla Smelting for processing with the head grade reported to be 44 ounces silver per ton. (Source, Stoker, ibid.)

Finally, Stoker indicated the location of the “Berger Vein”, described as a “gold ore shoot 25 feet wide, 135 feet long, and unknown depth.” Average grades were given as 0.3 oz/ton gold with unknown silver content. Additional notes in Stoker suggest that the Berger Vein was intersected in drifting at the 400 foot level.

SBMI’s 2021 Work Program – Overview

Following its purchase of the Washington Mine, the Company conducted mapping, sampling and grid soil geochemistry, and prepared staging areas for pending underground rehab and bulk sampling.

Efforts also focused on securing permits, engaging contractors, cutting timber for mine support, and making improvements to the access road. Geologic interpretation of field data is ongoing, and SBMI remains very encouraged with initial findings. Management believes the evidence to date supports historical accounts of previously mined grades and of the presence of strongly mineralized parallel vein structures.

SBMI’s 2021 Work Program – Step One

During Covid-19 shutdowns and while waiting for corporate paperwork to be processed, SBMI reassessed the Property’s historical data and based upon its conclusions, SBMI assayed samples of mineralized vein material that it had collected in December, 2020. The highlights of those assays are below:

Method	AUAG-GR30	AUAG-GR30
Element	Gold	Silver	Silver
Units	[g/t]	[g/t]	[oz/ton]

LDL*	0.14	5

WASH-ID-001	0.557	4350	127
WASH-ID-002	1.36	4780	139
WASH-ID-003	1.26	4740	138
WASH-ID-004	0.676	2030	59
WASH-ID-005	0.928	2580	75
WASH-ID-006	1.69	2480	73
WASH-ID-007	0.37	1298	41
WASH-ID-008	0.6	1107	35
WASH-ID-009	< 0.14	883	28
WASH-ID-010	4.61	3928	126

*LDL = Lower Detection Limit as provided by the Certified Assay Lab

The complete table will be posted at SBMI’s web site www.silverbulletmines.com. Readers are cautioned that samples are by their nature selective and may not reflect the overall nature of the property. The values above for silver in oz/ton were rounded off to the nearest digit.

Said A. John Carter, SBMI’s CEO, “Based in part on the historical records we knew we had a high possibility of success at the Washington Mine. We were pleasantly surprised the values in the samples were as high as they were. Those values required immediate follow-up.”

SBMI’s Work Program – Step Two

In July of 2021 the Company completed a limited grid soil sampling program of approximately 50 sites on three lines on each side of the Washington Shaft. The program was designed to provide an initial data set for the discovery of potential parallel mineralized structures. The sampling results from the west side of the Washington Shaft did not identify any mineralized structures within the grid.

The samples from the east grid did return significant results in terms of grade and location. The highlights from this limited program included 9.13, 4.58, and 1.06 g/t gold across three lines in near surface soil samples. The Company believes these are very good grades for soil samples and for this limited amount of sampling.

The samples collected by SBMI are located in a zone where the historical reports indicated the location of the “Berger Vein”, referenced above in Stoker. The initial results above encouraged the field team to specifically map and sample this mineralized structure. The Company is waiting on the assay results of this targeted sampling program.

SBMI’s Work Program – Step Three

The follow-up also involved additional investigations and site work. SBMI carried out a more detailed sampling program, including exposing the vein at surface, opening the adit, sampling across the vein, sampling the historical ore bins in the Washington Shaft, sampling the crushed ore from the south shaft stockpile, and sampling the Weatherby Portal.

This program was extremely successful. Highlights of the assay results from the sampling program are below.

Method	AUAG-GR30	AUAG-GR30
Element	Gold	Silver	Ag
Units	[g/t]	[g/t]	[oz/ton]

LDL*	0.14	5

5-28-21 B	1.06	3651	88.8
5-28-21 H	18.72	–	<.146
5-28-21 L	–	4331	126
08-26-21 C	6.58	6174	180
08-26-21 D	3.98	4241	124
08-26-21 K	0.342	3742	109

*LDL = Lower Detection Limit as provided by the Certified Assay Lab

The full table will be posted at the company’s website.

Continued Mr. Carter, “We were blown away by these results. While we expected strong values from the samples, especially from the crushed rock in the stockpile, we did not expect the ore bin to show over 180 ounces of silver per tonne and over six grams of gold per tonne. These are great numbers for our shareholders.”

SBMI also collected a small bulk sample from the available vein mineralization from the Property. This sample was crushed and quartered. One-quarter is out for assay at SBMI’s own assay facility in Arizona, one-quarter is out for assay at an independent lab, and one-quarter has been sent for ore characterization. The final quarter is retained by SBMI as part of QA/QC best practices. SBMI will report the results of the bulk sample as soon it receives the results from the independent third-party lab.

SBMI’s Work Program – Next Steps

SBMI is currently working with a contract miner on possible plans to reopen the Washington Mine. SBMI received a road upgrade permit from the US Forest Service and a Federal Mine ID number. As the mine is on patented lands the amount of permitting that is required is limited. SBMI is in discussions with third parties for the purchase of the resulting ore and/or concentrate and has identified potential mill facilities near the Property.

Management feels strongly that the Property fits precisely into its business model of high-grade lower risk near-term production, significant resource potential and substantial blue sky.

The Company will be providing a further update in the near future. A more detailed report on the Property can be found on our website www.silverbulletmines.com .

QA/QC

All of the samples taken by SBMI and referred to in this release were processed by Paragon Geochemical of Sparks, Nevada, an independent certified lab. Paragon tests for a 35 element suite using 0.25g 4-acid digestion/ICP-OES. Samples that ran over the detection limit were re-processed using a 30g fire assay and a gravimetric finish.

The Qualified Person for this press release is Mr. Ron Wortel, P.Eng., who oversaw all of SBMI’s work referred to herein. Mr. Wortel is also President and a director of the Company.

The Company also announces it has been advised by Mr. Jon Wiesblatt he is resigning from his position as a director of the Company to concentrate on other ventures. The Company thanks Mr. Wiesblatt for his contributions to the growth of the Company as a Capital Pool Company and through to the closing of its Qualifying Transaction.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the Property; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/107649

Tags John Carter, maurice jackson, proven and probable, Silver Bullet Mines, Washington mine

Junior Mining Precious Metals

Metallic Minerals Announces Completion of Exploration Programs at La Plata Silver-Gold-Copper Project

Post author By admin
Post date December 15, 2021

VANCOUVER, BC / ACCESSWIRE / December 15, 2021 / Metallic Minerals (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) is pleased to announce the successful completion of 2021 exploration activities at the La Plata silver-gold-copper project in the prolific Colorado Mineral Belt of southwest Colorado. The multi-faceted program included 1,980 meters of diamond drilling, resampling of historical drill core, and underground sampling from the Allard Tunnel, along with surface mapping and sampling across the broader property.

In addition, the Company engaged the team at Goldspot Discoveries (“GoldSpot”) to apply their proprietary Artificial Intelligence (“AI”), machine learning technology and specialized geoscience expertise in porphyry and epithermal systems to the La Plata project. GoldSpot completed their first phase analysis work on geological, geochemical, geophysical, and remote sensing data developing 16 new porphyry and high-grade epithermal priority targets for follow up work and future drilling.

2021 La Plata Exploration Program

The 2021 La Plata project work program was designed to achieve a number of important objectives:

Completion of confirmatory drilling and underground sampling within the main Allard porphyry target to confirm historical drill results from Rio Tinto, Freeport and others totaling 14,400 meters (“m”) in 54 drill holes drilled from the 1950s to the 1970s. This confirmatory drilling is an important step towards upgrading of the historical resource to a NI 43-101 compliant mineral resource estimate for the project;
Conduct surface exploration and follow-up sampling to further define the scale of mineralization along multiple identified trends that comprise multi-kilometer-scale soil and geophysical targets;
Undertake field confirmation of deep-penetrating Induced Polarization (“IP”) and airborne electromagnetic (“EM”) geophysical targets developed in the 2020 surveys; and
Initiate work with GoldSpot Discoveries to apply AI technology towards definition of priority targets to potentially accelerate the discovery process on the project.

Drilling and resampling of core in the main Allard porphyry system, along with underground sampling from the Allard Tunnel, has confirmed the tenor of copper, silver and gold mineralization from previous exploration on the property. The 3 kilometer (“km”) by 1 km mineralized system remains open to expansion at depth and along trend. This year’s work has also shown significant potential for palladium, platinum and gold associated with the porphyry system. Highlight historical drill intercepts include 395 m grading 0.57% copper equivalent (0.51% Cu, 6.3 g/t Ag, and 0.017 g/t Au) including 108 m grading 0.75% copper equivalent (0.65% Cu, 7.7 g/t Ag and 0.034 g/t Au) in drill hole LP-03 starting from surface. Final assay results for drill samples are pending.

Surface sampling has also expanded the main mineralized zone to 6 km in length and up to 1.5 km in width with anomalous copper, silver and gold in soils and rock samples. In addition, a second 4 km by 1 km target, which may represent a new porphyry and epithermal center, has been identified based on geophysics, remote sensing, and surface sampling with rock sample values in porphyry related mineralization up to 1.1% copper with 0.9 g/t gold and multi-gram silver. Rock samples of epithermal related mineralization included values up to 95 g/t silver and 10 g/t Au.

Metallic Minerals’ CEO and Chairman, Greg Johnson, stated, “We are pleased to have completed our first drill campaign at La Plata, and the first on the project in nearly 50 years, as we apply new thinking to this historic American high-grade silver, gold and copper district. Our work is confirming the potential for a multi-kilometer-scale mineralized porphyry and epithermal system – a much larger system than previously recognized – with excellent potential to expand known mineralization and to make new discoveries. Drilling, underground and surface sampling, geophysics, and satellite based remote sensing data for La Plata demonstrate real potential to become a strategic, US-based sourced of both precious and base metals, including silver necessary for solar power, and copper necessary for carbon-free energy and broader electrification of the global economy. Our 2021 work program has successfully advanced our understanding of the projects potential and is a major step towards the delineation of an inaugural mineral resource estimate. We look forward to providing additional updates including drill results from both our La Plata and Keno projects, as well as updates from our on-going work on the high-grade alluvial projects in the Klondike Gold district.”

About La Plata Silver-Gold-Copper Project

The road accessible La Plata project covers 33 km² approximately 26 km northwest of Durango, Colorado within the historic high-grade La Plata mining district located at the southwest end of the prolific Colorado Mineral Belt. Mineralization is related to a large-scale precious-metals-rich porphyry copper system with associated high-grade silver and gold epithermal vein and replacement deposits. Historical production from some of these high-grade structures exceeded 1,000 grams per tonne (“g/t”) silver and over 15 g/t gold with some of the richest deposits delivering true bonanza grades for silver and gold¹.

The La Plata district has a long and rich history of mining with the first silver deposits discovered in the 1700s by Spanish explorers. High-grade silver and gold production has been documented from the 1870s through the early 1940s from vein structures, replacement bodies and breccia zones at over 90 individual mines and prospects¹. From the 1950s to 1970s, major miners including Rio Tinto (Bear Creek) and Freeport-McMoRan (Phelps Dodge) explored in the La Plata district focusing on the significant potential for bulk-tonnage disseminated and stockwork hosted mineralization². Freeport-McMoRan retained ownership of claims in the district until 2002 when they sold their holdings to the current underlying vendors during the lows of the last metal price cycle.

A total of 56 drill holes totaling 15,200 m has been drilled on the property since the 1950s which confirm the presence of large-scale, multi-phase porphyry system with significant silver, gold and copper. This large-scale mineralized system is associated with a 10 km² strongly magnetic signature with intense hydrothermal alteration.

Metallic Minerals is the first company to complete significant exploration on the La Plata project in nearly 50 years, applying modern technologies and deposit modeling techniques. The Company sees the potential to rapidly extend the size of the known mineralized system and to identify and expand the higher-grade zones within the broader porphyry and epithermal mineralized zones.

Foot notes: 1) Eckel, USGS Prof Paper 219, Geology and Ore Deposits of the La Plata Mining District, 1949; 2) Bear Creek Mining (now Rio Tinto), Humble Oil (now Exxon) and Phelps Dodge (now Freeport-McMoRan) company reports; 3) Christoffersen, Geological report on the Allard deposit, La Plata Mining District, Durango, Colorado, 2005.

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:

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

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 Jeff Cary, P.Geo., who is Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”).

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although 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. 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 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.

View source version on accesswire.com:
https://www.accesswire.com/677761/Metallic-Minerals-Announces-Completion-of-Exploration-Programs-at-La-Plata-Silver-Gold-Copper-Project

Tags #PreciousMetals, Greg Johnson, Keno Silver Project, La Plata, maurice jackson, Metallic Group of Companies, proven and probable

Junior Mining Precious Metals

Silver Hammer Reports Phase I Drill Results and Confirms Significant Gold-Silver Mineralization Below Old Mine Workings at Silver Strand

Post author By admin
Post date December 14, 2021

Figure 1

Long section showing mined out stopes and highlighted intercepts

Figure 2

Oblique cross section highlighting 2021 assay results

VANCOUVER, British Columbia, Dec. 14, 2021 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR / OTCQB: HAMRF) (“Silver Hammer” or the “Company”) is pleased to report results from the Company’s recently completed initial Phase I drill campaign at the past-producing Silver Strand Mine located in Idaho, USA. Historical records at Silver Strand indicate the potential for both significant gold (“Au”) and silver (“Ag”) mineralization within the upper part of the system, directly below the lowest surface level. All six drillholes (first drilling in ~20 years at Silver Strand) cut through a 25 metre (m) wide zone of intensely silicified quartzite with locally higher-grade Au-Ag mineralization and confirmed the Company’s thesis that the mineralized body extends beneath the old mine workings.

Highlights:

SS21-003: 1.13 g/t Au and 89.76 g/t Ag over 4.57 m (202.76 g/t Silver Equivalent) (“AgEq”) (AgEq silver:gold ratio 100:1) shown for reference purposes
SS21-004: 5.17 g/t Au and 18.07 g/t Ag over 1.24 m (535.07 g/t AgEq), followed by 4.96 g/t Au and 85.10 g/t Ag over 0.91 m (581.10 g/t AgEq)
SS21-005: 5.80 g/t Au and 13 g/t Ag over 1.83 m (593.93 g/t AgEq)
SS21-006: 1.29 g/t Au and 80.85 g/t Ag over 7.93M (209.85 g/t AgEq), Including 0.61 g/t Au and 392.00 g/t Ag over 0.61 m (456.00 g/t AgEq) and 2.48 g/t Au and 284.00 g/t Ag over 0.92 m (532.00 g/t AgEq)
SS21-007: 4.12 g/t Au and 130.00 g/t Ag over 1.53 m (542.00 g/t AgEq)

“We are very encouraged that all six drillholes from our initial drill campaign at Silver Strand cut significant Au-Ag mineralization. Quickly and cost effectively rehabilitating and utilizing the existing underground allowed us to create a new drilling station accessed from the surface level 3 portal,” stated President and CEO, Morgan Lekstrom.

Lekstrom added, “Other large high-grade silver mines in the same Revett Formation rocks within the Coeur d’Alene district extend to 1,800 m or greater, often with the highest silver grades starting 100’s of metres below surface. Our shallow confirmatory drilling has successfully delivered proof-of-concept and we look forward to testing the system at greater depth and targeting potential additional high-grade chutes along strike in 2022.”

Figure 1: Long section showing mined out stopes and highlighted intercepts
https://www.globenewswire.com/NewsRoom/AttachmentNg/d0f03e87-c4b2-494c-bbad-d80a01476417

The Company recently completed mine rehabilitation work within the level 3 portal (see Figure 1 above and press release September 1, 2021) and established a new underground drill station stepped out from the old mine workings. This station is on the same plane as surface and will allow for an expedited, focused, and cost-effective way to continue drilling at greater depths and along strike.

Table 1: Summary of significant gold (Au) and silver (Ag) assay results

Hole_ID	From (m)	To (m)	INTVL (m)	Au_g/t	Ag_g/t	AgEq_g/t*
SS21-003	19.66	24.08	4.42	1.13	89.76	202.76
	24.08	25.21	1.13	No samples obtained
and	25.21	27.74	2.53	1.04	12.29	116.29

SS21-004	41.76	43.01	1.25	5.17	18.07	535.07
	43.01	46.33	3.32	Post mineral Dyke
and	46.33	47.24	0.91	4.96	85.10	581.10

SS21-005	26.21	28.04	1.83	5.80	13.93	593.93
Including	26.21	27.13	0.92	8.80	<3	880.00
And	31.39	36.27	4.88	1.04	9.95	113.95

SS21-006	35.05	42.98	7.93	1.29	80.85	209.85
Including	38.71	39.32	0.61	0.64	392.00	456.00
Including	40.84	41.76	0.92	2.48	284.00	532.00

SS21-007	29.57	31.39	1.82	1.98	88.45	286.45
Including	30.48	31.39	0.91	2.36	111.00	347.00
and	34.44	35.97	1.53	4.12	130.00	542.00

SS21-008	15.54	17.78	2.24	0.47	84.40	131.40

*Notes: All reported assays are downhole core lengths, uncapped and calculated using a 110 g/t Ag cut-off grade. AgEq_g/t = Ag_g/t + Au_g/t*100; True thickness unknown. One hundred percent recovery utilized. AgEq shown for reference purposes.

Background and Interpretation of Results

The Company’s initial targeted pierce points would have required approximately 3,000 m of drilling from surface as well as a more extensive surface permitting process, but by utilizing an underground drill method, the equivalent drilling was completed with only ~290 m in six core holes. Drillholes were positioned to evaluate presumed extensions of mineralization beneath the lowest production level of the mine (see Figure 2 below).

Figure 2: Oblique cross section highlighting 2021 assay results
https://www.globenewswire.com/NewsRoom/AttachmentNg/1737c57e-f045-4011-a7e4-1219a894a84a

The six drillholes completed from the underground drilling all passed through a 25 m wide zone of intensely silicified quartzite with extensive, highly fractured quartz veining which hosts at its core the Au-Ag mineralization being reported (see Table 1 above). This zone of pervasive hydrothermal alteration and lower grade halo precious metal mineralization (e.g. SS21-005 cut 1.36 g/t Au over 15.5 m and SS21-007 cut 1.38 g/t Au over 9.41 m) is also intruded by a post-mineral mafic dyke, as noted for drillhole SS21-004. The extent and intensity of the silica alteration supports the Company’s view that the Silver Strand project represents a compelling exploration target with potential for increased gold-silver values across broader intervals at greater depths and along strike.

Confirming the association of the quartz to the mafic dyke, allows the Company to extend its exploration plans not only underground, but to understand the UAV MAG survey anomalies with potential for exploration surface drilling as well.

Quality Assurance, Quality Control

Sample Security

The following measures were taken to ensure sample security: samples were submitted to the American Analytical Services (AAS) by company personnel following the guidelines and procedures of Silver Hammer Mining Company; only authorized personnel have attended the samples; core was logged at the Silver Hammer core processing facility and then transferred to the AAS lab in Osburn, Idaho.

Analysis Suite

All drill core samples were analyzed by AAS using conventional assay methods involving the fire assaying of 30 gram charges of pulverized sample material for gold and silver, with ICP finishing. Gravimetric analyses were to be applied to any samples that yielded Au values greater than 10 g/t Au and 10 g/t Ag. In addition, pulverized charges were collected for all core samples and were entirely dissolved using 4-acid digestion, with the final solution being analyzed for 35 elements using the ICP-MS method.

Audits or reviews

Internal review of sampling techniques, data, and drilling results by the Company’s management is routinely done through the course of the project.

Standards, Blanks and Duplicates

For quality assurance/quality control purposes, the batches of core samples sent to AAS for assaying and ICP analyses were regularly infused with ‘duplicate’, ‘standard’ and ‘blank’ samples. So-called ‘standard’ samples consisted of certified reference material (OREAS 611) of pulverized rock obtained from OREAS, a company that provides certified reference materials. The ‘blank’ samples consisted of barren landscaping gravel, while the ‘duplicates’ were in fact laboratory duplicates created during sample preparation at the labs of AAS. The laboratory also provided analytical results for their own reference samples for further a QA/QC check. The standards and blanks were inserted into the assay stream by Silver Hammer geologists.

Qualified Person

Technical aspects of this press release have been reviewed and approved by Philip Mulholland, P.Geo., the designated Qualified Person (QP) under National Instrument 43-101.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company exploring mineral claims covering the past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA as well as the Eliza Silver Project and the Silverton Silver Mine, both located in Nevada, one of the world’s most prolific mining jurisdictions, and the Lacy Gold Project in British Columbia, Canada. The Company recently completed its initial drill program at Silver Strand that was designed to test for silver and gold mineralization immediately below the mine’s lowest level some 90 metres below surface. Silver Hammer strives to become a multi-mine silver producer and will focus near-term exploration and drilling programs at its 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.

Tags Eliza Silver Project, maurice jackson, Morgan Lekstrom, proven and probable, Silver Hammer Mining, Silver Strand Mine, Silverton

Junior Mining Precious Metals

Strikepoint Gold’s Step-out Drilling at Willoughby Intersects 10.24g/t Gold-Equivalent over 6.16 Meters

Post author By admin
Post date December 9, 2021

Vancouver, British Columbia–(Newsfile Corp. – December 9, 2021) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce the initial drill results from the 2021 exploration program at the 100%-owned Willoughby gold-silver property, located east of Stewart in British Columbia’s prolific Golden Triangle.

Results have been received from the first of four areas drilled during the 2021 season targeting extensions to mineralization along strike identified during the 2020 drilling program. Gold-silver mineralization was encountered in all holes. Highlights include:

7.34 g/t Au and 202.85 g/t Ag or 10.24 g/t AuEq over 6.16 meters in W21-109
3.78 g/t Au and 10.45 g/t Ag or 3.93 g/t AuEq over 4.0 meters in W21-110
4.18 g/t Au and 3.47 g/t Ag or 4.23 g/t AuEq over 7.0 meters in W21-110

High-grade gold-silver mineralization encountered in drill hole W21-109 is a step-out of approximately 25 meters down-dip from 2020 intercept W20-106 which intersected 10.04 g/t Au and 5.61 g/t Ag or 10.12 g/t AuEq over 7.72 meters within a broader interval of 4.19 g/t Au and 18.28 g/t Ag over 27.78 meters.

“Willoughby continues to deliver wide, high-grade intervals of gold-silver mineralization in multiple areas. We are building continuity of structurally-controlled and intrusive-related mineralization and are excited for further incoming results from the rest of the 2021 Willoughby program as well as drill results from our Porter Silver project,” said Shawn Khunkhun, President and CEO of Strikepoint Gold.

During the 2021 program, 4,050 meters of core drilling in seventeen holes were completed at the Willoughby Property as well as extensive surface chip-channel sampling and mapping of well-exposed, gold-silver mineralization within disseminated to massive sulphides that were follow up to 2020 surface results and in-field observations. The objective of the program was to targets gaps between previously drilled high-grade zones at Willoughby as well as the Willow zone one-kilometer to the north that hosts analogous high-grade mineralization. Assays are currently pending for the remaining 13-holes, as well as all surface sampling results.

Drill holes W20-108 to W20-111 were collared from the same site, testing extensions of the mineralization identified during the 2020 drill program. Drill hole W21-109 intersected 7.34 g/t Au and 202.85 g/t Ag or 10.24 g/t AuEq over 6.16 meters and W21-110 intersected 2.48 g/t Au and 5.30 g/t Ag or 4.23 g/t AuEq over 4.0 meters and 4.18 g/t Au and 3.47 g/t Ag or 4.23 g/t AuEq over 7.0 meters. These holes are interpreted to occurs within the hanging wall of a shear structure with steep southwest dip associated with dominant sulphide mineralization including semi-massive to sheeted pyrite-galena-sphalerite-chalcopyrite. Holes W21-108 & W21-111 stayed in the footwall to the zone, however sheeted vein sets were observed at depth and are interpreted to indicate close proximity to the mineralized structure which is consistent with surface observation.

Figure 1. 2021 & historic Willoughby Drillhole plan view map with gold assay results for the 2021 drill results

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/5044/107177_0e5c81a9e4471b00_001full.jpg

The causative, diorite intrusive rocks at Willoughby are considered comparable to, and potentially co-magmatic with, the Goldslide intrusive suite associated with mineralization at Ascot’s Red Mountain deposit, located seven kilometers west of the property. These intrusive sills are interpreted to have pooled gold bearing-sulphides in permissive Jurassic-aged volcanic rock package below the intrusion creating wide areas of disseminated gold-silver mineralization. This was encountered in the following intercepts: W21-108 1.24 g/t Au and 1.51 g/t Ag over 15-meters, W21-109 2.66 g/t Au and 13.18 g/t Ag over 4.7 meters, W21-110 1.60 g/t Au and 3.19 g/t Ag over 8.5 meters, and W21-111 0.86 g/t Au and 1.70 g/t Ag over 11.0 meters.

Complete results are as follows:

Hole-ID	Azimuth/Dip	From (metres)	To (metres)	Length (metres)	Gold (g/t)	Silver (g/t)	Gold Equivalent (g/t)
W21-108	79/-68	183.00	186.00	3.00	0.96	11.25	1.12
		210.00	225.00	15.00	1.24	1.70	1.26
	incl.	210.00	217.00	7.00	1.95	0.89	1.96
		235.00	241.00	6.00	2.57	6.52	2.66
	incl.	235.00	238.00	3.00	3.83	6.83	3.93
		257.50	258.50	1.00	3.66	2.40	3.69
		314.00	315.00	1.00	2.35	11.50	2.51
W21-109	45/-70	171.30	176.00	4.70	2.66	13.18	2.84
		184.00	188.00	4.00	1.06	2.43	1.09
		271.00	272.50	1.50	0.89	2.6	0.89
		285.34	291.50	6.16	7.34	202.84	10.24
		306.50	308.00	1.50	2.00	3.00	2.04
W21-110	45/-73	188.00	192.00	4.00	3.78	10.45	3.93
		199.50	208.00	8.50	1.60	3.19	1.65
	incl.	199.50	203.50	4.00	2.64	5.21	2.71
		237.00	241.00	4.00	2.48	4.1	2.54
		284.00	291.00	7.00	4.18	3.47	4.23
W21-111	63/-74	202.00	213.00	11.00	0.86	1.70	0.88
	incl.	202.00	204.00	2.00	2.41	4.10	2.47
	incl.	212.00	213.00	1.00	1.10	2.20	1.13
		223.50	225.00	1.50	0.94	9.80	1.08
		243.00	249.00	6.00	0.70	10.6	0.85

Table 1: Highlight drill intercepts from oriented core diamond drilling at the Willoughby project. Gold equivalent calculated using a 70:1 Ag:Au ratio.
**True widths are not known at this time. All widths reported are drilled length.

StrikePoint also announces that it has adopted a new stock option plan (the “Fixed Stock Option Plan Up To 10%”). The Plan is subject to TSX Venture Exchange approval and can be viewed in its entirety on SEDAR.

Willoughby Gold-Silver Project

Willoughby is located along the eastern margin of the Cambria Icefield, approximately seven kilometres east of Ascot Resources advanced-staged Red Mountain deposit. The property is underlain by Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks that have been intruded by an early Jurassic-aged hornblende-feldspar porphyry, potentially comagmatic with the Goldslide Intrusive suite at Red Mountain deposit. Intrusive-related, structurally-controlled and replacement-style mineralized linked consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite, native gold. Eight gold and silver mineralized zones have been identified to-date over a one-kilometre strike-length mineralization trend.

QA/QC

Samples for the 2021 exploration program were all NQ sized (47.6mm diameter) drill core labelled, sawn in half, with one-half placed in sealed bags and shipped with a chain of custody controls to the laboratory. The remaining drill core is subsequently securely stored in Stewart, BC. The company implements a rigorous Quality Control/Quality Assurance program, including the insertion of standards, blanks, and duplicates at regular intervals in the sample stream to monitor laboratory performance.

Drill core samples are submitted to the ALS Geochemistry facility in Terrace, British Columbia, for preparation and subsequently to the ALS Geochemistry facility in North Vancouver for analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into a representative sub-sample using a riffle splitter, and subsequently, 250 g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and an upper limit of 10ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with a gravimetric finish. Analysis for silver is by 30 g fire assay fusion with gravimetric finish with a lower limit of 0.5 ppm and an upper limit of 100 ppm. Samples with silver assays greater than 100 ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by 4-acid digestion (ICP-AES).

Qualified Person

The Qualified Person for this news release for the purposes of National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor to Strikepoint. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.

About StrikePoint

StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter project and the high-grade gold Willoughby property, adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.

ON BEHALF OF THE BOARD OF DIRECTORS OF
STRIKEPOINT GOLD INC.

“Shawn Khunkhun”

Shawn Khunkhun
Chief Executive Officer and Director

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

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

For more information, please contact
StrikePoint Gold Inc.
Shawn Khunkhun, CEO and Director
T: (604) 602-1440
E: sk@strikepointgold.com
W: www.strikepointgold.com

Tags maurice jackson, Porter Silver Project, proven and probable, Shawn Knunkhun, SKP, Strikepoint Gold, Willoughby Gold-Silver Project

Breaking Exclusive Interviews Junior Mining Precious Metals

Dolly Varden Silver – Size Meets Grade

Post author By admin
Post date December 7, 2021

Maurice Jackson:

Joining us for a conversation is Shawn Khunkhun, the CEO of Dolly Varden Silver Corp. It’s a great time to be speaking with you as Dolly Varden Silver has just expanded their footprint in the highly prospective Kitsault Valley trend located in the prolific Golden Triangle of British Columbia. Before we begin, Mr. Khunkhun, please introduce us to Dolly Varden Silver and the opportunity the company presents to shareholders.

Shawn Khunkhun:

Dolly Varden has just announced today that we are set to acquire Homestake Ridge from Fury. Up until this moment, Dolly Varden was a silver-focused company in the Golden Triangle with a mineral endowment of 44 million ounces of high-grade silver. What today’s announcement proposes, is Dolly Varden is going to have a shareholder vote. We’ve got support from one our larger shareholders, Eric Sprott, who has not only publicly given his support, but he’s actually signed up support and lockup agreements for this transaction.

Shawn Khunkhun:

We are looking to unify the Kitsault Valley trend, which is comprised of 7 known deposits along 15 kilometers of Hazleton Rocks in the Golden Triangle, of which 4 of these deposits are on the Dolly Varden side and 3 are on the Homestake Ridge side. The amalgamation would also dramatically increase our mineral inventory taking us from 44 million ounces of high-grade silver to 137 million ounces of high-grade silver equivalent. To look at it through a gold lens, we would be at over 1.8 million ounces of high-grade gold.

Maurice Jackson:

Now before we get into the details of the transaction, please acquaint us with the Homestake Ridge Project, which hosts a resource in the inferred and indicated category of both gold and silver, along with a PEA.

Shawn Khunkhun:

Homestake Ridge, looking at it based on their gold ounces, has about 900,000 ounces of gold, about 18 million ounces silver, or one could look at it through a gold lens of 1.2 million ounces gold equivalent or 93 million ounces silver equivalent. It’s a project that is situated in the Golden Triangle. It’s a project that is open at depth and along strike. And it’s a project that hosts some very, very impressive grades.

And some of the opportunities at Homestake Ridge are there are some high-grade areas that not only do you have 20, 30 gram per ton gold material, but you have it over wide intervals. There are some tremendous opportunities to take some of the inferred resources and move them along into the indicated category. But you’re probably going to have some big surprises there in that just as Dolly Varden saw last year at our Torbrit Mine, which is a silver-rich mine, there is a tremendous opportunity when you vector into the high-grade.

Shawn Khunkhun:

For example, our resource on our side of the property is 300-gram silver. We did some infill drilling last year and we were finding that the resources were understated, as we were finding 450 gram material over big wide intervals. I suspect those same opportunities are going to persist on the Homestake side of the trend.

But the real story here, is that there are 5.5 kilometers in between the two projects that have never been explored. And both companies independently had done some geophysical work that has both concluded in three large geophysical anomalies in between, so I suspect we’ll move from seven deposits potentially to 10 and counting. We feel confident that there’s a huge, huge exploration upside before us.

Shawn Khunkhun:

I came into Dolly Varden in February 2020. This was a company that had $3 million in the bank. It had 44 million ounces in the ground and it had a $20 million market cap. Post this transaction, this is a $125 million company with 140 million ounces of silver equivalent in the ground, boasting an impressive treasury and with an experienced technical team that will continue to unlock discovery opportunities.

Maurice Jackson:

Now I have to ask you, sir, how were you able to acquire the Homestake Ridge? Could you walk us through the details of the transaction?

Shawn Khunkhun:

I think it was just one of these situations where when an M&A deal works for both parties, it’s the best. I really believe in business, how do you create win-win-win opportunities, whether it’s with our first nations partners, the Nisga’a, where we bring employment opportunities and they give us social license to do our exploration work.

Or whether it’s in the case of this M&A transaction where Fury is undervalued based on the incredible mineral endowment they have. And they’ve got 3 great projects in Canada, but the challenge with 3 great projects is how do you advance them all? Therefore, what Fury Gold Mines will be doing is they’re partnering with us. Ivan Bebek, Fury’s chairman, wants to ride the upside in Dolly Varden stock. So we structured a deal where we allowed him to ride the upside by becoming a 37% shareholder.

Shawn Khunkhun:

Now that’s a lot of trust to place in an outside party. They signed escrow agreements so that their stock is held up longer than the traditional hold periods. And there are all sorts of other parts of the investor rights agreement that are quite favorable for Dolly Varden shareholders, but they’re able to ride in the upside. As this project gets re-rated because it’s now got scale and there are the obvious synergies when his shares become re-rated and as we move into the latter stages of a precious metals bull market, these shares are going to be worth a lot more than 60 cents a share. And there was a pretty meaningful cash component to the deal as well. Dolly Varden is parting with $5 million worth of cash that Fury now can then take to advance either Eau Claire or Committee Bay.

Maurice Jackson:

Now we’ve covered the current resources. What can you tell us about further exploration upside potential?

Shawn Khunkhun:

The key is, so we have a northern property, northern deposit called Wolf, which is nearby Torbrit, which is the big granddaddy, 50 million ounce silver discovery on our property. Two kilometers away you have the Wolf and there’s a tremendous two-kilometer opportunity between Torbrit and Wolf.

Now going north from Wolf, you’ve got South Reef, which is Fury’s southern-most project. The big exploration opportunity is in the five and a half kilometers that lie in between South Reef and Wolf. I haven’t had the incentive to drill north. I’m not going to be positioning my drill rigs going on to Fury’s ground, defining mineral inventory on their side of the property. Likewise, Tim Clark and the team at Fury weren’t going to be drilling south. Now that we’ve unified, now that there’s 100% interest in one entity, that is going to be a huge area of focus going forward.

Maurice Jackson:

Now to coincide with this upside potential. How will the addition of the Homestake Ridge Project impact infrastructure?

Shawn Khunkhun:

There was a PEA that was produced that looked at one mill to develop the project at Homestake Ridge. The obvious synergy is for the company to release a PEA where you’ve got one mill, two projects. So from CAPEX to exploration to development, there are tremendous synergies by having one entity. And then I think as we are demonstrating that we are the lead consolidator in the area and if we have the hub, the mill will attract other projects that are in the area that don’t have the capital, or maybe not large enough as a standalone operation, they will be coming into the Dolly Varden Mill.

Maurice Jackson:

By consolidating the region Dolly Varden Silver now has a commanding land position at the southern tip of the Golden Triangle. But there’s more to the transaction. You’ve added some icing on the cake by merging the synergies and expertise from Fury Gold Mine’s technical team as well.

Shawn Khunkhun:

Thank you. No, and it’s not just technical, you’re absolutely right. But you know, Tim Clark, his capital markets and his banking contacts, Tim, as a CEO of Fury, he spent a career in the precious metals business. He’s got a Rolodex of contacts. Tim’s rolling up his sleeves, he’s coming on the board. In addition to having Michael Hendrickson, who is a very, very talented exploration geologist joining our board and working together as a group to unlock the true potential with the capital market’s expertise, with the technical expertise, we already had a lot of depth on the technical side, right from the top with Rob McLeod, Rob van Egmond, Jodie Gibson, Ryan Weymark, Andrew Hamilton’s just joined the team. And then we’ve got this new generation of project managers, Amanda Bennett. We’ve got a new gentleman joining our team here imminently, Joaquin.

Shawn Khunkhun:

We’ve just got, this is not going to be set out to consultants. This is in-house where the incentives are aligned with shareholders. And I’ve been through projects in the past where you have strong teams where the incentives are aligned with shareholders and it produces the best results. And we’ve got first-class people from even looking at this transaction, how it was put together from our banking advisors at Haywood to our legal counsel at Stikeman, I’m just floored and honored to work with just a high caliber of people. I’ve got a tremendous partner in our CFO, Ann Fehr. We’ve got a supportive, active board. I’m not going to mention every board member, but I want to thank our chairman, Darren Devine. We’ve just got a tremendous opportunity. It’s a great culture. It’s a culture that wants to grow, that wants to win. And now we have a platform and with size and scale that is going to attract larger investors.

I’ve listened to investors, I’ve gone out into the world. They told me to consolidate. They told me to get bigger. I’ve done it. And we’re just getting started.

Maurice Jackson:

Now before we leave the Golden Triangle, let’s visit the Dolly Varden Silver Project, which conducted a 10,000-meter drill program, which was a 50/50 split between infill and expansion drilling on the high-grade Torbrit Deposit. Any updates for us and when we might expect to see some results?

Shawn Khunkhun:

The labs have been extremely backed up in this part of the world. I’m anticipating results imminently and will continue to report results going into Q1. We allocated about 35% of our meters to exploration and we allocated about 65% of those meters in and around known resources. I would envision putting out two result-oriented press releases, one on exploration drilling, and one on resource expansion and extension drilling. Last year, we were extremely successful. A year hasn’t gone by where Dolly Varden hasn’t had dual success. I anticipate that to be the case, but what we’ve done here with this transaction is a material change to our mineral inventory definitively. And so I look forward to following up on exciting discoveries and drilling them out. But this is a real shot in the arm in terms of going from 44 million ounces to 140 million ounces. It’s quite a feat.

Maurice Jackson:

It certainly is. All right, switching gears, sir. Let’s look at some numbers. Please provide us with the capital structure for Dolly Varden Silver.

Shawn Khunkhun:

We currently have 130 million shares. Assuming our shareholders vote for this transaction, we’re going to issue 76 million shares to Fury. Again, they’re an insider. They’re locking up that stock. They’re riding this precious metals market with us, and they’re going to help us extract maximum value from this opportunity. If the transaction is supported, Dolly Varden Silver Corp will go to 207 million shares. But again, that’s 37% held by Fury. That’s 37% held by precious metal institutional investors, some of them are 9.9% shareholders, that’s 11% Eric Sprott, 8% retail. In addition, Hecla, which is a 10% shareholder has an opportunity to do a top-up. So they have a participation right. If Hecla exercises their participation right, they will come in for 9 million shares and they will resume having a 10.5 % percent ownership. Which coincidentally nets out the cash component of the transaction.

Maurice:

Now, before we close Mr. Khunkhun, what would you like to say to shareholders?

Shawn Khunkhun:

I came in in year one in 2020. We had a great market and we raised $27 million in a non-dilutive way. We put money in the ground. We started growing the deposit and saw an opportunity to transform the company. There were opportunities to transform the company outside of our region, we chose to expand our footprint next door, which now gives us a commanding position at the southern tip of the Golden Triangle. We’re a prominent player in the area now.

And we shouldn’t ignore the catalysts’ In the region such as Pretium being subject to a takeover bid from Newmont. We saw the big takeout last year with GT Gold. This is an area that the majors want to be and we’ve positioned our shareholders with a commanding position at the southern tip of the Golden Triangle.

Shawn Khunkhun:

But beyond that, this is what I want to leave the readers with. There are a lot of gold projects that have ounces in the ground in North America. There are a few projects that have ounces in the ground in North America that are silver. There are only 14 companies that have both gold and silver of this size. None of them have it at this grade. We are number one. We are number one for size meets grade in precious metals.

Shawn Khunkhun:

You missed nothing Maurice. You got it all covered.

Maurice:

Mr. Khunkhun, for someone that wants to learn more about Dolly Varden Silver, please share the contact details.

Shawn Khunkhun:

Please visit our website, www.dollyvardensilver.com. You can follow us on Twitter @silvervarden, or you can call us toll-free at +1 800-321-8564.

Maurice:

Mr. Khunkhun, it’s been a pleasure speaking with you. Wishing you and Dolly Varden Silver the absolute best, sir.

And as a reminder, I’m a licensed representative for Miles Franklin Precious Metals Investments, where we provide several options to expand your precious metals portfolio from physical delivery directly to your home, off-shore depositories secured by Brinks, and precious metal IRAs. Call me directly at 855-505-1900 or you may email, maurice@milesfranklin.com. And finally, please subscribe to provenandprobable.com, where we provide mining insights and bullion sales.

Tags Dolly Varden Silver, DV, Fury Gold Mines, Homestake Ridge, Ivan Bebek, Shawn Khunkhun, Torbit

Junior Mining Precious Metals

Rover Metals Announces Infill And Delineation of Historic Beaver Zone at Cabin Gold, NT, Canada

Post author By admin
Post date December 7, 2021

Beaver Zone – Drill Plan View

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) is pleased to report on the Phase 2 Exploration Program at its 100% owned Cabin Gold Project, NT, Canada. The focus of the Phase 2 Exploration Program was to discover and delineate new gold zones along the Bugow Iron Formation, the controlling structure for gold at the Cabin Gold Project. The Company is pleased to announce that it has been able to achieve expansion of the economic gold grades at the historic Beaver Zone. The Beaver Zone is situated roughly 400 meters northwest of the Arrow Zone, which was the focus of the Company’s exploration efforts in 2020. In November 2020, the Arrow Zone was delineated as a near surface, 120-meter high-grade ore shoot, open at depth. The Beaver Zone, currently defined as approximately 90 meters in near surface length, is showing potential to extend south-east into the high-grade Arrow Zone, as well as being open to the northwest, and at depth.

Beaver Zone Expansion
The Company is reporting multiple near-surface intercepts of economic gold grades at the Beaver Zone. Highlights of Phase 2 drilling include: new drill hole CL-21-10 which reported 6.4 meters of 4.63 g/t Au (from 42.6m to 49.0m), including 2.6 meters of 7.80 g/t Au; new drill hole CL-21-15 which reported 5.8 meters of 2.13 g/t Au (from 50.0m to 55.8m); new drill hole CL-21-39 which reported 4.6 meters of 2.21 g/t Au (from 11.0m to 15.6m); and new drill hole CL-21-40 which reported 4.5 meters of 0.84 g/t Au (from 13.8m to 18.3m). The results, both confirm and expand upon, historical drilling at Beaver in the 1980s, and have returned higher grades than historical results. The historical drill holes and new holes can be referenced in the drill plan for the Beaver Zone below. A table of significant Beaver Zone drill results greater than 0.5 g/t Au listed by hole and interval can be found at the bottom of this release.

Drill Plan View – Beaver Zone

CL-21-10/11 Cross Sections
CL-21-13/14 Cross Sections
CL-21-15 Cross Section
CL-21-16 Cross Section
CL-21-39/40 Cross Sections

The Company’s working hypothesis is that there is a conceptual ore shoot at Beaver trending, and dipping to the northwest in a similar fashion and direction as the Arrow Zone, which lies 400 meters to the southeast of Beaver. The Company commenced an IP ground survey on November 28^th, 2021, across the Beaver and Arrow Zones to assist in 3D modelling of the gold mineralization for the delineation of the Phase 3 drill targets for Q1-2022.

Map of Beaver Zone and Arrow Zone IP Survey Lines

Judson Culter, CEO at Rover Metals, states: “We are very pleased to have the workings of a new medium-to-high grade ore shoot at Beaver. The goal of the Phase 2 Program at Cabin was to open-up the 15 km of near surface iron formation at the project, and to delineate additional zones for a deeper Phase 3 drill program in Q1-2022. We believe that in addition to our success in the Beaver Zone we are poised for significant expansion of gold mineralization at the historic Andrew Zone as well. Based on the initial sampling results received from the Andrew Zone, we have sent more samples to the lab as we believe the mineralized intervals are longer than what initially sampled in the field at the start of the program. A map of the Bugow Iron Formation, showing the current understanding and interpretation of the delineated zones as well as new 2021 IP anomaly discoveries can be found below.”

Map of the Bugow Iron Formation

Tables of Significant Drill Results

Hole ID	Easting83z11	Northing83z11	Elevation (m)	Total Depth	Dip	Azimuth
CL-21-10	559060	7005770	176	74	-45	230
CL-21-11	559061	7005770	176	146	-65	230
CL-21-12	559062	7005769	176	93.75	-55	195
CL-21-13	559020	7005800	175	62	-45	230
CL-21-14	559020	7005800	175	95	-65	230
CL-21-15	559020	7005800	175	83	-45	190
CL-21-16	559020	7005800	175	80	-45	260
CL-21-39	559067	7005755	177	53	-45	230
CL-21-40	559067	7005755	177	77	-55	250

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t)
CL-21-10	V749212	42.6	43.1	0.5	1.17
CL-21-10	V749213	43.1	43.6	0.5	1.62
CL-21-10	V749214	43.6	44.1	0.5	0.95
CL-21-10	V749215	44.1	44.6	0.5	2.88
CL-21-10	V749216	44.6	45.1	0.5	7.32
CL-21-10	V749218	45.1	45.6	0.5	6.51
CL-21-10	V749219	45.6	45.9	0.3	22.40
CL-21-10	V749217	45.9	46.4	0.5	5.40
CL-21-10	V749221	46.4	46.7	0.3	8.33
CL-21-10	V749222	46.7	47.2	0.5	1.43
CL-21-10	V749223	47.2	47.7	0.5	0.42
CL-21-10	V749224	47.7	48.2	0.5	1.45
CL-21-10	V749225	48.2	49.0	0.8	7.30

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t)
CL-21-13	V749421	41.57	41.97	0.40	0.51
CL-21-13	V749422	41.97	42.38	0.41	0.20
CL-21-13	V749423	42.38	42.75	0.37	3.39
CL-21-13	V749424	42.75	43.09	0.34	0.31
CL-21-13	V749425	43.09	43.59	0.50	0.04
CL-21-13	V749426	43.59	44.00	0.41	1.78
CL-21-13	V749427	44.00	44.53	0.53	0.76

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t)
CL-21-14	V749467	70.70	71.00	0.30	0.62
CL-21-14	V749468	71.00	71.43	0.43	0.51
CL-21-14	V749469	71.43	71.81	0.38	1.52
CL-21-14	V749470	71.81	72.16	0.35	0.41
CL-21-14	V749471	72.16	72.56	0.40	1.59
CL-21-14	V749472	72.56	72.9	0.34	5.48

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t)
CL-21-15	V749507	50.00	50.50	0.50	0.70
CL-21-15	V749508	50.50	51.03	0.53	1.10
CL-21-15	V749509	51.03	51.48	0.45	0.41
CL-21-15	V749510	51.48	52.16	0.68	0.39
CL-21-15	V749511	52.16	52.87	0.71	5.05
CL-21-15	V749512	52.87	53.23	0.36	9.64
CL-21-15	V749513	53.23	53.63	0.40	4.29
CL-21-15	V749514	53.63	53.97	0.34	1.54
CL-21-15	V749515	53.97	54.29	0.32	0.45
CL-21-15	V749516	54.29	54.62	0.33	2.79
CL-21-15	V749517	54.62	55.36	0.74	0.21
CL-21-15	V749518	55.36	55.75	0.39	0.83

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t)
CL-21-39	V748418	11.00	11.90	0.90	1.39
CL-21-39	V748419	11.90	12.20	0.30	0.96
CL-21-39	V748420	12.20	12.94	0.74	0.61
CL-21-39	V748421	12.94	13.36	0.42	1.13
CL-21-39	V748422	13.36	14.00	0.64	7.96
CL-21-39	V748423	14.00	14.52	0.52	2.72
CL-21-39	V748424	14.52	15.00	0.48	1.60
CL-21-39	V748425	15.00	15.62	0.62	0.74

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Au (g/t)
CL-21-40	V748392	43.53	43.83	0.30	4.09
CL-21-40	V748393	43.83	44.29	0.46	3.17
CL-21-40	V748394	44.29	44.57	0.28	1.71
CL-21-40	V748395	44.57	45.10	0.53	1.03
CL-21-40	V748396	45.10	45.47	0.37	1.43
CL-21-40	V748397	45.47	45.93	0.46	2.99
CL-21-40	V748398	45.93	46.60	0.67	0.25
CL-21-40	V748399	46.60	47.15	0.55	0.69

Technical information in this news release has been approved by David White, P.Geo., Technical Advisor of Rover and a Qualified Person for the purposes of National Instrument 43-101.

About Rover Metals
Rover is a precious metals exploration company specialized in North American precious metal resources, that is currently advancing the gold potential of its existing projects in the Northwest Territories of Canada (60^th parallel). The Company commenced Phase 2 Exploration at its 100% owned Cabin Gold Project in the summer of 2021, and Phase 2 Exploration work continues at Cabin Gold through to the date of this release.

You can follow Rover on its social media channels:

Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements be prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/65eb889b-c20a-41f7-a720-8d6868e69274

Tags Beaver Zone, Cabin Gold Project, Judson Culter, maurice jackson, proven and probable

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

FOUNDATIONAL READING

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Figure 1

Track mounted diamond drill rig on site at the Malmsbury Project – 14/12/2021.

Figure 2

Malmsbury Project location and major targets in the north of the project area, with geology and historic workings.

Figure 3a

Unidirectional solidification textures (USTs) in the Missing Link Monzogranite on the Malmsbury project

Figure 3b

Unidirectional solidification textures (USTs) in the Missing Link Monzogranite overprinted by gold bearing stockwork quartz veins on the Malmsbury project

Figure 4

soil geochemistry overlying geology.

Figure 5

FALCON® vertical gravity gradient image highlighting the gravity low associated with outcrop of gold mineralized granite. The Leven Star deposit is parallel to and lies on the edge of a major gravity gradient.

Figure 1

Long section showing mined out stopes and highlighted intercepts

Figure 2

Oblique cross section highlighting 2021 assay results

Beaver Zone – Drill Plan View

Beaver Zone – Drill Plan View

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