Category: Precious Metals

Labrador Gold Intersects 44.08 g/t Gold Over 4.28 Metres at Big Vein, Kingsway Project

Post author By admin
Post date August 18, 2021

TORONTO, Aug. 18, 2021 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce further high-grade intercepts of near surface gold mineralization from its 100% controlled Kingsway project near Gander, Newfoundland. These holes were drilled as part of the Company’s 50,000 metre drill program. The Kingsway project is located in the highly prospective central Newfoundland gold belt.

Four holes K-21-26, -33, -36 and -39 all contained intervals grading more than 15g/t Au. Hole K-21-39 intersected 44.08 g/t Au over 4.28m from 49 metres which represents a “metal factor” (grade x width) of 188.7 g/t Au x m*, the highest value yet on the Kingsway Property. This intersection included 1.02m grading 81.64 g/t Au and 1.03m grading 96.47 g/t Au and contained 91 grains of visible gold. Hole K-21-36 intersected 15.02 g/t Au over 0.74m from 8.84m. Hole K-21-33 intersected 40.85 g/t Au over 0.4m from 56.15 metres and hole K-21-26 intersected 15.55 g/t Au over 0.5m from 235 metres. A summary of the high-grade intersections, as well as other holes with assays received to date, are given in Table 1 below. *The width used to calculate metal factor is downhole width as there is insufficient information to calculate true width.

Table 1. Assay highlights

Hole	From (m)	To (m)	Length (m)	Au (g/t)	Zone
K-21-39	49.00	53.28	4.28	44.08	HTC
including	50.36	51.38	1.02	81.64
including	52.25	53.28	1.03	96.47
K-21-36	7.79	12.00	4.21	3.64	Big Vein
including	8.84	9.58	0.74	15.02
K-21-33	7.00	8.00	1.00	1.00	Big Vein
and	50.50	51.00	0.50	1.04	HTC
and	53.50	54.00	0.50	1.55
and	56.15	56.55	0.40	40.85
K-21-32	9.05	10.12	1.07	1.03	Big Vein
and	62.00	67.50	5.50	2.21	HTC
K-21-28	57.50	58.50	1.00	1.12	Big Vein
and	175.00	176.00	1.00	3.17	HTC
K-21-27	26.00	33.00	7.00	1.27	Big Vein
and	46.00	51.00	5.00	1.31
and	70.00	71.00	1.00	1.14
and	105.00	106.00	1.00	1.28
and	115.00	117.00	2.00	7.43
and	121.00	122.00	1.00	2.65
and	128.00	129.00	1.00	5.07
K-21-26	71.00	72.00	1.00	1.12	Big Vein
and	235.00	235.50	0.50	15.55	HTC
K-21-25	13.30	14.40	1.10	1.01	Big Vein
and	18.00	20.00	2.00	1.65
and	43.00	44.00	1.00	1.19
K-21-22	12.00	13.00	1.00	1.70	Big Vein
K-21-21	33.00	36.00	3.00	2.46	Big Vein
and	43.00	44.00	1.00	1.73

**Interval contains visible gold. All intersections are downhole length as
there is insufficient Information to calculate true width.

“The intersection of the near surface high grade gold mineralization in Hole K-21-39 has the highest-grade x width value of 188.66g/t Au x m obtained so far from our drilling at Kingsway. This is significantly better than the previous high of 138.28 g/t Au x m returned from Hole-21-31 and continues to demonstrate the potential for high-grade intercepts at the Big Vein target,” said Roger Moss, President and CEO of the Company. “Three drills continue to explore Big Vein with step out drilling along strike to the southwest and drilling of the high-grade HTC Zone at depth.”

Graphics accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a0e36f71-b136-4fe3-bfa6-0afa6bfc41c9

https://www.globenewswire.com/NewsRoom/AttachmentNg/4ad000b6-616d-4947-9fa0-8afb6876c7a0

https://www.globenewswire.com/NewsRoom/AttachmentNg/18dc2fe4-4bd2-4214-8270-ca69f8358004

Table 2. Drill hole Collar details

Hole ID	Easting	Northing	Azimuth	Dip	Total depth
K-21-39	661596	5435218	90	48	122
K-21-36	661596	5435218	120	49	119
K-21-33	661596	5435218	105	52	157
K-21-32	661596	5435218	105	57	170
K-21-28	661562	5435244	130	60	284
K-21-26	661562	5435244	160	60	266
K-21-25	661442	5435097	130	45	248
K-21-24	661562	5435244	328	45	269
K-21-23	661562	5435244	148	60	233
K-21-22	661596	5435218	130	45	212
K-21-21	661603	5435249	120	45	212.5

Big Vein target

The Big Vein target is an auriferous quartz vein exposed at surface that has been traced over 400 metres at surface along the Appleton Fault Zone. It lies within a larger northeast-southwest trending “quartz vein corridor” that stretches for over 7.5 kilometres as currently outlined, with potential for expansion along the 12km strike length of the Appleton Fault Zone in both directions. Gold mineralization observed at Big Vein includes visible gold in quartz veins, assays of samples from which range from 1.87 g/t to 1,065 g/t gold. The visible gold is typically hosted in annealed and vuggy gray quartz, that is locally stylolitic with vugs often containing euhedral quartz infilling features characteristic of epizonal gold deposits.

The ongoing 50,000 metre drill program has tested Big Vein over approximately 200 metres of strike length of the 400m surface exposure and to vertical depths of 175 metres. Drilling has produced visible gold in 11 drill holes giving high grade intercepts as well as wide areas of gold mineralization associated with significant quartz veining and sulphide mineralization including arsenopyrite, pyrite and possible boulangerite noted along vein margins and as strong disseminations in the surrounding wall rocks.

QA/QC

True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with ICP (inductively coupled plasma) finish with samples containing visible gold assayed by metallic screen/fire assay. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.

Qualified Person

Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.

The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.

About Labrador Gold
Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.

In early March 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 16km of the Appleton fault zone which is associated with gold occurrences in the region, including the New Found Gold discovery. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold recently increased its 20,000 metre diamond drill program to 50,000 metres targeting high-grade epizonal gold mineralization following encouraging early results. The Company has approximately $35 million in working capital and is well funded to carry out the planned program.

The Hopedale property covers much of the Hunt River and Florence Lake greenstone belts that stretch over 80 km. The belts are typical of greenstone belts around the world but have been underexplored by comparison. Initial work by Labrador Gold during 2017 show gold anomalies in soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8 g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 kilometres along the southern section of the greenstone belt (see news release dated January 25 ^th2018 for more details). Labrador Gold now controls approximately 57km strike length of the Florence Lake Greenstone Belt.

The Company has 151,472,206 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.

For more information please contact:

Roger Moss, President and CEO Tel: 416-704-8291

Or visit our website at: www.labradorgold.com

Twitter @LabGoldCorp

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

Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements

Tags #MauriceJackson, #ProvenAndProbable, Kingsway Gold Project, LAB, Labrador Gold, Roger Moss

Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Acquires Royalty on Caserones Copper-Molybdenum Mine in Northern Chile

Post author By admin
Post date August 17, 2021

To purchase the Caserones Royalty, EMX has formed a 50%-50% partnership with Altus Strategies Plc (“Altus” (AIM: ALS) (TSXV: ALTS) (OTCQX: ALTUF) to acquire an effective 0.836% NSR royalty for US$68.2 million (see below for additional acquisition details). EMX and Altus will each control an effective 0.418% royalty interest and will each be responsible for $34.1 million of the purchase price.

Vancouver, British Columbia–(Newsfile Corp. – August 17, 2021) – EMX Royalty Corporation (NYSE American: EMX) (TSX: EMX) (FSE: 6E9) (the “Company“, or “EMX“) is pleased to announce that it has entered into an agreement dated August 16^th, 2021 to acquire an effective 0.418% Net Smelter Return (“NSR“) royalty on the operating Caserones Copper-Molybdenum Mine (the “Caserones Royalty“) located in northern Chile for US$34.1 million in cash. Closing is anticipated to take place in two phases with both closings being completed by September 1^st, 2021. In completing this transaction, EMX expects immediate and long term cash flow from a large porphyry copper-molybdenum deposit in a top tier mining jurisdiction.

To finance its US$34.1 million portion of the US$68.2 million purchase price, the Company has entered into a Credit Agreement (the “Credit Agreement“) with Sprott Private Resource Lending II (Collector), LP (“Sprott“). The Credit Agreement will increase the Company’s current proposed US$10 million credit facility with Sprott, in connection with the Company’s recently announced transaction with SSR Mining (see Company News Release dated July 29, 2021), to US$44 million (the “Credit Facility“) to include financing for the Caserones Royalty acquisition. Further details of the Credit Agreement are provided below.

The acquisition of the Caserones Royalty represents an important strategic development for EMX, by further enhancing the Company’s royalty cash flow and long-term exposure to copper as a key metal for the global economy. Recognition of the opportunity directly resulted from EMX’s ongoing assessment work in the region and serves as another example of how the Company leverages its regional expertise in various jurisdictions around the world to identify value enhancing business opportunities.

Caserones Mine Overview. The Caserones open pit mine is developed upon a significant porphyry copper-molybdenum deposit in the Atacama Region of the northern Chilean Andean Cordillera, 162 kilometers southeast of the city of Copiapó, at an approximate elevation of 4,300 meters above sea level. The Mine is operated by SCM Minera Lumina Copper Chile SpA, which is indirectly 100% owned by JX Nippon Mining & Metals Corporation (“JX Nippon“).

Caserones is located at the southern end of the well documented Maricunga mineral belt and comprises an Early-Miocene porphyry system associated with a cluster of dacite porphyries and breccias intruding Palaeozoic granitic, volcanic, and metamorphic rocks. Caserones has a well-developed supergene enrichment profile of oxide copper and secondary chalcocite that overlies hypogene sulfide (chalcopyrite-molybdenite) mineralization.

Caserones produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathodes from a dump leach, solvent extraction and electrowinning plant. In 2020 the mine produced 104,917 tonnes of fine copper in concentrate, 2,453 tonnes of fine molybdenum in concentrate, and 22,056 tonnes of fine copper in cathodes. The Caserones open pit has operated with an average waste: ore strip ratio of 0.47, has 17 years remaining in its current mine plan, along with excellent exploration potential. In a news release dated November 9, 2020, JX Nippon announced plans for “stepping up exploration efforts in areas around the mine” in an effort to expand production and extend the mine life.

Acquisition Details. The Caserones Mine is subject to a 2.88% NSR royalty provided for in a 2009 agreement between Minera Lumina Copper Chile S.A. as purchaser, and Compañía Minera Caserones (“CMC“) and Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California“) as vendors. CMC and SLM California originally staked the mineral claims that overlie the Caserones deposit, and ownership of the 2.88% NSR royalty is currently divided between CMC (32.5%) and SLM California (67.5%). EMX and Altus will each be indirectly purchasing a portion of the SLM California royalty. Under the 2009 agreement, the NSR interest will be reduced to 2% and 1% if the London Metal Exchange (“LME“) quoted copper price falls below US$1.25 and US$1.00 per pound respectively.‎

EMX and Altus have formed a Chilean company, Minera Tercero, Spa (“Tercero“), of which the EMX and Altus each own 50%. Tercero will purchase 43% of the issued and outstanding shares of SLM California through a Share Purchase Agreement with 16 shareholders of SLM California (represented by Leonel Polgatti Goycoolea, a shareholder) for US$68.2 million. Tercero will enter into a shareholder’s agreement with the selling shareholders of SLM California, that together with Tercero hold approximately 89% of SLM Californa’s issued and outstanding shares, to govern SLM California. SLM California’s sole purpose is to administer the company, pay Chilean taxes and distribute its royalty proceeds to the shareholders, including Tercero.

Sprott Credit Agreement. In order to finance its US$34.1 million portion of the US$68.2 million purchase price under the Share Purchase Agreement, the Company has entered into the Credit Agreement, which encompasses the previously proposed financing related to EMX’s recent transaction to acquire the SSR Royalty Portfolio. The senior secured Credit Facility is in the principal amount of US$44 million, which includes up to US $10 million which will be used to finance a portion of the purchase price of the SSR Royalty Portfolio.

Under the Credit Agreement, the Credit Facility matures on July 31, 2022, bears ‎interest at a rate of 7% per annum, and is secured by general security ‎agreements over the assets of the ‎Company and certain of its subsidiaries, and pledges of the shares of ‎certain of the Company’s ‎subsidiaries, who will, at Sprott’s election, also be guarantors of the loan. In addition to interest ‎payable, ‎the US$44,000,000 advanced under the Credit Facility was subject to an ‎original issue ‎discount equal to 4.61364% of the amount of the advance. Under the Credit Agreement, the ‎Company will be required to maintain minimum unrestricted cash of USD ‎‎$1,500,000. ‎

In conjunction with the Credit Agreement, Sprott ‎subscribed for ‎US$1,235,000 of common shares of the Company (“Common Shares“) at a deemed ‎price equal to a 10% ‎discount to the 5-day VWAP of the Common Shares on the NYSE American exchange immediately prior to July 12, ‎‎‎2021 of $US 3.0450, which resulted in the issuance of 450,730 Common Shares.

Summary. The acquisition of the Caserones Royalty provides immediate enhancement to EMX’s royalty cash flow and secures long-term proceeds from copper and molybdenum production in one of the world’s top mining regions. This transaction nicely compliments the Company’s growing portfolio of royalty interests in South America, which has become a recent emphasis in the Company’s growth strategy.

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. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Dave@EMXroyalty.com

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

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

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding completion of the transaction, perceived merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential”, “upside” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended June 30, 2021 and the year ended December 31, 2020 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2020, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Tags #MauriceJackson, #ProvenAndProbable, copper, David Cole, EMX, EMX Royalty, Scott Close

Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Second Quarter 2021 Results

Post author By admin
Post date August 17, 2021

August 16, 2021

StrikePoint Gold – Exploring High-Grade Gold and Silver Projects in the Golden Triangle of B.C.

Post author By admin
Post date August 11, 2021

Maurice Jackson:

Joining us for conversation is Shawn Khunkhun the CEO of Strikepoint Gold (TSX.V: SKP | OTC: STKXF). Glad to have you on the program to share the opportunity before us at Strikepoint Gold. Before we delve into company specifics, Mr. Khunkhun, please introduce us to Strikepoint Gold and the opportunity the company presents to shareholders.

Shawn Khunkhun:

Strikepoint is an exploration company, advancing high-grade properties in safe jurisdictions. I repurposed the company back in 2016, the gold price had been cutting out and majors were not exploring, nor developing. And the thinking was we could buy it projects for pennies on the dollar. We could advance them. And in the future, we could move those projects along to the Major that are looking to secure development pipelines.

Maurice Jackson:

You have a reputation for having astute business acumen and great use of optionality on how you establish the company. Looking at the map before Strikepoint Gold has the property bank situated in the prolific Golden Triangle, get us acquainted with the region and some of your neighbors.

Shawn Khunkhun:

Okay. So, near the Triangle, it’s an area that exploration has been going on for over a hundred years. It’s produced some of the richest gold mines in the world. If you look at the Premier Mine that Ascot is currently holding, that was one of the richest modern mines in the modern era, in terms of several ounces, in terms of grade. Eskay Creek, a strong gold and silver mine. The Golden Triangle is known for large deposits, high-grade deposits, and is one of the hottest mineral exploration hubs on the planet.. There’s just, it’s a flurry of activity with the discovery of Pretivm’s Brucejack, we’re seeing large companies like Newmont and Newcrest come into the area. Noteworthy of mention, there is also tremendous infrastructure throughout the Triangle.

Maurice Jackson:

Let’s go on-site and find out more. Sir, take us to the flagship Willoughby Project and introduce us to the value proposition before us.

Shawn Khunkhun:

The Willoughby Project is a spectacular world-class discovery that was originally explored in 1989 to 1996 time period. There were about 120 drill holes, and there were some robust grades of 20-gram gold over 20 meters thickness that were discovered. During that time the Bre-X scandal happened and you also had the gold price heading down to just under $200 an ounce in 1999. So it was a very, very difficult time for the mineral resource industry. e acquired the property in 2018.. There’s a lot of grade on the project and we are excited about the opportunity before us. We are trying to connect the dots in-between zones. So, that’s the value proposition, linking these zones to show that this is a mineable project.

Maurice Jackson:

I referenced business acumen, when and under what terms was Strikepoint Gold able to acquire the Willoughby Gold Project?

Shawn Khunkhun:

That’s an interesting story. So back in October of 2018, the gold price got sold down to about $1,100 an ounce. And at that moment, we were able to acquire Willoughby for $85,000 in cash. And by issuing three million shares of Strikepoint, which at that time was valued at about half a million dollars. Considering the amount of drilling that was done on the property, its proximity to Red Mountain, which was subsequently acquired by Ascot. It was a once-in-a-generation acquisition for the company.

Maurice Jackson:

Germane to the value proposition and exploration thesis is an important stratigraphic marker known as the Red Line. What is the Red Line and where is it in relation to the Willoughby Gold Project?

Shawn Khunkhun:

There are two BCGS geologists, Jeff Kyba and JoAnne Nelson, and as they were looking at this tremendous area that’s produced very high-grade deposits. They were trying to look at a model, a geological model to identify where to look for the next giant gold, silver, and copper deposits in the region. So Kyba and Nelson came up with this theory and it’s a theory that has been widely accepted by the scientific community and identifies a contact. The big deposits in the Golden Triangle are found within two kilometers of where two different rock types meet. So this is the Triassic to the rocks and the Jurassic Hazelton formation. These are two different rock types that meet within two kilometers of that contact, which have produced some of the biggest deposits in the region are found.

Maurice Jackson:

Thus far, we’ve been able to determine that Strikepoint Gold is in a friendly mind jurisdiction, located in the prolific Golden Triangle, neighboring some very prominent names, and the project is along the Red Line. Two prong question, can you delve a little further into historic resource and share some of the grades with us?

Shawn Khunkhun:

The Willoughby does not have a formal 43-101 compliant resource on the property, however, the historic resource has about eight different areas throughout the Willoughby property where there’s tremendous grade and there’s been a lot of drilling. So, on the back of a napkin, I don’t want to speculate in terms of ounces, but what we’re looking for here is the neighboring Red Mountain deposit, which is just under a million ounces at about 7.5 grams per ton. We think this is analogous to Red Mountain. And if you look at the footprints of the mineralization from surface, it leads us to believe that we’re onto a very, very large gold system here. So, this season is going to be crucial. We’ve done some significant work on the property to date.

Shawn Khunkhun:

We’ve got assays pending and we’re trying to accomplish two things. Number one, link different zones of mineralization. Number two, we’re looking for where we could fit a deposit into the system. And we are drilling somewhat I would describe as Wildcat holes into areas that should host a very, very large system. There are two opportunities on the property. One is for a KSM style disseminated large system. These are two systems, one’s 40 million ounces of gold and the other is 10 million ounces of gold. And then the other opportunity is for a higher-grade epithermal vein-rich system. We have seen both types of mineralization on the property. And if you look at what Ascot is doing in terms of their hub and spoke model, along Ascot you also have Yamana and Newmont. So there’s a huge appetite from a larger gold entities for consolidation and acquisition.

Maurice Jackson:

Speaking of Wildcat drilling, last month Strikepoint Gold announced the commencement of a 3000-meter drill program. How’s the program coming along and when can shareholders expect results?

Shawn Khunkhun:

The program’s going well. I was just up in Stewart, along with our technical advisor Rob McLeod. Strikepoint Gold is blessed with one of the best teams in the exploration business. These are professionals that have worked on a lot of the big projects in the Golden Triangle. Originally came out with a 3000-meter program at Willoughby where we’re halfway through that program. It’s going exceptionally well. It’s on time, it’s on budget. It’s very difficult to speculate on assays because you are dealing with third-party labs. And if 2020 taught me anything, we were exceptionally delayed in assay times, but I would suspect that we’re going to have a very results-rich autumn season, a very result-rich fall after Labor Day and that we should be reporting ongoing into Q1.

Maurice Jackson:

Sounds very intriguing. If you enjoyed the value proposition of the Willoughby, wait till you hear about the Porter. Mr. Khunkhun, please introduce us to the Porter Silver Project.

Shawn Khunkhun:

But before we get specifically into Porter, I want to share with readers this goes beyond Porter. This goes more to why silver, and my last experience in a bull market for gold, when gold prices went from hundreds of dollars up to thousands of dollars into 2011, it was the silver stocks, the silver equities that delivered the best returns for resource investors. I was very deliberate during this cycle. In 2018, the company acquired Porter, we acquired it from Skeena resources. I was very deliberate in positioning the company with a high-grade silver property. If you look at the number of pure high-grade silver properties in the world, you could count them on a couple of hands. There are very few opportunities for resource investors in the silver space and even fewer outside of Chile, Argentina, Mexico, and Peru.

Shawn Khunkhun:

The Porter is in a safe jurisdiction. It’s a past-producing silver mine and one of the highest-grade silver mines I’ve ever come across in my career. The average production grades at Porter were 2,500 grams per ton, but it’s the exploration thesis. It’s the opportunity before that really has us excited. The high-grade mineralization is on both sides of Mount Rainey overlooking the town of Stewart. The Porter two kilometers from the town. but you’ve got this high-grade mineralization that’s at either side of Mount Rainey. We can see the Petro Canada Gas Station. the Deepwater Seaport going into the Portland Canal. Highway 37A. So all the infrastructures there. So, you’ve got the Silverado Mine on one side, you’ve got Prosperity Porter Idaho on the other side. They’re separated by about two kilometers and there was a large glacier, the Silverado glacier that prohibited exploration in the past. That glacier is pulled back.

Shawn Khunkhun:

It’s opened up a new exploration corridor and we believe those two systems are going to meet. And when you have two systems meeting, you usually have exceptional grades. The opportunity there is to link up these two past-producing mines by drilling into the center of the mountain. And it’s an opportunity that previously was not accessible. And this is the season that Strikepoint test that theory. In addition to stepping out from each of the mines on either side, we’ve got step-outs where we’re trying to extend the known high-grade resources and known areas that were once in your production. But the real opportunity is a target that we call Big Flex. The Big Flex opportunity is a series of drill holes right into the center of the system where these two systems should meet. And, if we’re successful and if the assays come back anywhere in the neighborhood of where historic production grades were, this is going to be a transformational year for Strikepoint.

Maurice Jackson:

You referenced 2,500 grams per ton on the historical work. Let’s put that into perspective for readers. What kind of grade would you a need to go into production?

Shawn Khunkhun:

Not all deposits are the same. You’ve got underground mines and open-pit mines. Typically what you’d see at an open-pit silver mine is one-ounce material or 30 gram material. At an underground mine, you’re probably closer to 200 grams per tonne, which is about eight ounces roughly. So, we’re talking about a system here that is 10 times richer than most underground mines. That’s the opportunity here. And, just so you know that this isn’t the exception in the area. If you look at some of the giant silver mines in the area like Eskay Creek, they produced almost 200 million ounces of silver at better than 2000 grams per tonne. There’s a lot of precedent in this area for mines like this, Eskay is one example, at the Premier Mine there was a lot of high-grade silver recovered, at Pretivm’s Brucejack there’s a lot of high-grade silver that’s coming out. And just to the south of us is Dolly Varden Silver.

Maurice Jackson:

I see that Porter has a historic resource, is the goal to twin the holes?

Shawn Khunkhun:

No, the goal is not to twin the holes. The goal is to extend the known band. While we were drilling the Willoughby property last season in 2020, we sent a team out to do some surface work at Porter. They were looking to extend the veins at surface. This was the deep vein, the blind vein. This is on the Prosperity Porter Idaho side. We were successful. At surface, we had come up with new extensions, we’ve discovered new veins. And so the goal here is to extend and expand the known veins at both Silverado and Prosperity Porter Idaho. It’s to uncover new veins around that. But the big prize here is if we were able to come up with some structure, some mineralization in between those two zones that had never been explored.

Maurice Jackson:

You’ve also been busy doing some field mapping and grab samples, what were the results?

Shawn Khunkhun:

Recently, we’ve had up to 3,800 grams per tonne, but when we first acquired the property. At the Silverado side we’ve had up to 44,000 grams per tonne. This is one of the most exceptional specimens I’ve ever come across in my career and so up to 44,000 grams per tonne, that’s 20 times the average production grades.

Maurice Jackson:

All right. So let’s discuss some important topics that you’re main to your projects, and that is, are the projects 100% owned?

Shawn Khunkhun:

They are 100% owned.

Maurice Jackson:

And what is your relationship with the first nations?

Shawn Khunkhun:

There are two first nations groups in the area. South of Treaty Creek, we’re in Nisga’a territory. And so we’ve got a very, very strong relationship with the Nisga’a Nation. About a third of our workforce comes from Nisga’a and everyone from our team had a long history of just a very, strong relationship there. I’ve said this before, they’re our brothers, they’re sisters, they’re our friends. They’re truly our partners and it goes beyond Nisga’a, it’s everybody close to the Stewart community. These are non-first nations. These are non-indigenous peoples as well. We are truly from the north for the north and that’s our policy.

Maurice Jackson:

We’ve discussed the good, let’s address the bad, what can go wrong? And what are your action plans to mitigate that wrong?

Shawn Khunkhun:

In 2020, we had one of the worst weather years up in the Golden Triangle that we’ve seen in about a decade. And so that’s hasn’t been the case this year. But last year, if you scanned about two dozen junior resource companies and went through their financial statements, what you’d see is some companies we’re operating at a 30% production because of weather. I’m happy to report that Strikepoint last season, we combated the weather, and we were operating at about 90%, 95% productivity. So, we overcame weather, but weather can be a challenge in this part of the world. Apart from the weather, we went through the COVID pandemic in terms of more regulations and just a stronger adherence to health and safety.

Shawn Khunkhun:

We are always on high alert in terms of COVID outbreaks. And lastly, just with the scarcity of certain supplies. We started the season, we saw some trends in lumber in late 2020. We made all of our wood purchases in Q4 of 2020 and in late Q3, and thankfully so, because how do we try to secure lumbering in Q1 and Q2? We would have paid twice the price. Now, thankfully things like lumber and other costs have come down, but there is a shortage of certain goods and items. Sometimes there are some delays, but, those are the types of things that can go wrong.

Maurice Jackson:

All right. Let’s discuss the people responsible for increasing shareholder value. Mr. Khunkhun, please introduce us to your board of directors and management team, and what skill sets do they bring to Strikepoint Gold.

Shawn Khunkhun:

Strikepoint Gold has a diverse group, but, if you look at the skills and experience matrix, we’ve got a lot of boxes checked here. We’ve got a mining engineer, Ian Harris. Ian, was instrumental in the sale of Corriente Resources for about $690 million. We’ve got an exploration geologist, Adrian Fleming. I don’t think we have enough time to go through all of Adrian’s successes, but he’s just a tremendous mentor to the beyond geologists that work for the company. We’ve got a tremendous mining engineer. We’ve got a great exploration geologist. Carol Li, who is the chief financial officer for Ascot Resources and is on the board. And then beyond the board of directors, we’ve got advisors like Rob McLeod, Ryan Weymark, myself. To round things out, I come from a marketing and capital reserve background. So we’ve got all the right elements you need to move a company like Strikepoint forward.

Maurice Jackson:

Let’s get into some numbers. Please provide us with the capital structure for Strikepoint Gold.

Shawn Khunkhun:

Strikepoint has about 200 million shares issued and outstanding. Eric Sprott as the largest shareholder at close to 20%. We have a couple of corporate shareholders in Ascot, and Skeena. In terms of institutional ownership, I believe it’s around 40% and you’ve got tremendous names in the institutional leadership. You’ve got firms like Delbrook, Crescat, US Global, Gold 2000, Sprott. So, it’s all the who’s who in the resource fund space.

Maurice Jackson:

How much cash and cash equivalents do you have?

Shawn Khunkhun:

So, we’ve got about $10 million in the bank. And, we’ve got about a $4 million budget here. We should start the year with roughly $6 million. We should start January 1st, 2022 with about $6 million after all of our exploration expenditures and spending.

Maurice Jackson:

How much debt do you have?

Shawn Khunkhun:

Zero.

Maurice Jackson:

And if you can just remind us one more time, what is the float?

Shawn Khunkhun:

The float is roughly 40 million shares.

Maurice Jackson:

In closing, sir, what keeps you up at night that we don’t know about?

Shawn Khunkhun:

When our crew is in the field, they’re on my mind. I sleep like a baby come December when the crews are off the property. When you go to work with people, you start to care about them. And until everybody’s gone home to their families at Christmas, that’s the one thing in the back of my mind. And it’s part of the reason that we make our best efforts to go up and to spend time with our crews. Team morale is important.

Maurice Jackson:

Last question, what did I forget to ask?

Shawn Khunkhun:

One of the things that you should know is that I’ve personally invested about $500,000 dollars in Strikepoint, for me, that’s a material amount of money. And so my interests are aligned with shareholders’ interests, my family, and my friends. There’s a lot more in terms of reputation and then in personal a skin in the game. So, that’s one thing I’d like your viewers to know.

Maurice Jackson:

Mr. Khunkhun, it’s been a pleasure speaking with you today, wishing you and Strikepoint Gold the absolute best, sir.

And as a reminder, I am a licensed representative to buy and sell precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio, from physical delivery of gold, silver, platinum, palladium, and rhodium, to offshore depositories, and precious metals IRA’s. Give me a call at 855.505.1900 or you may email: Maurice@MilesFranklin.com. Finally, please subscribe to www.provenandprobable.com, where we provide: Mining Insights and Bullion Sales, subscription is free.

Tags eric sprott, Golden Triangle, maurice jackson, proven and probable, rick rule, Shawn Khunkhun, SKP, sprott, Strikepoint Gold

Junior Mining Precious Metals

Rover Metals August Corporate Update

Post author By admin
Post date August 10, 2021

Rover Metals Stands in Support of Local Community

Local employment showcased during Phase 2 Exploration at Cabin Gold Project

VANCOUVER, British Columbia, Aug. 10, 2021 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FRA:4X0) (“Rover” or the “Company”) discusses the positive impact of the Cabin Gold project on the local community: https://rovermetals.com/landingpages/aug2021corporateupdate.html

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ffc80748-bc7e-4058-88a9-bed31aa9d731

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 Cabin Gold Project this summer.

Stock Option Grants
The Company has re-engaged Momentum PR (“Momentum”) to provide another six months of investor relations services. Pursuant to the renewal of the Momentum contract, the Company has granted 750,000 stock options with a four year life on the following terms: 175,000 options vesting September 30, 2021 with an exercise price of $0.125; 175,000 options vesting December 31, 2021 with an exercise price of $0.150; 175,000 options vesting March 31, 2022 with an exercise price of $0.175; and 175,000 options vesting June 30, 2022 with an exercise price of $0.200. The Company has also granted 52,400 stock options to a consultant. The 52,400 options are fully vested on grant, have a life of four years, and have an exercise price of $0.15.

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

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.

Tags Cabin Lake Gold Project, Judson Culter, maurice jackson, proven and probable, Rover Metals

Base Metals Breaking Energy Precious Metals

Millrock Provides Exploration Update For Alaska Gold Projects

Post author By admin
Post date August 6, 2021

August 5, 2021 2021

Highlights

Resolution Minerals Partnership – 64North Gold Project.

Resolution Minerals reported that it had received assay results from a recently completed, shallow, reverse circulation drilling program conducted at prospects within the East Pogo block of the 64North Gold Project near Pogo Mine.
No significant gold intersections were realized, but Resolution Minerals reports strong gold pathfinder element signatures in a target area measuring 1,600 meters by 2000 meters.
Resolution states that pathfinder results from drill hole 21EP008 indicate potential for gold at depth and that a follow-up deeper drilling program is warranted.

Felix Gold Partnership

Major soil sampling program continues: 2,000 samples collected to date.
Drill plans are being formulated.

VANCOUVER, BRITISH COLUMBIA, August 5, 2021 – Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) is pleased to provide an update on its exploration activities at its Goodpaster and Fairbanks gold district projects (Figure 1).

Figure 1. Millrock gold project locations within the Tintina Gold Province, Alaska. — ***Figure 1.*** *Millrock gold project locations within the Tintina Gold Province, Alaska.*

Goodpaster District Projects

Millrock owns a 70% interest in a very large claim block surrounding the Pogo Mine in Alaska. Pogo is a high-grade gold mine operated by Northern Star Resources Ltd. The 64North claims, which are subdivided into eight different blocks, are the subject of an option agreement with Resolution Minerals Ltd (ASX: RML, “Resolution”). Recently, a 30% interest was earned by Resolution by virtue of exploration expenditures plus cash and share payments made to Millrock in the first year of the project.

64North Gold Project – East Pogo block: Millrock partner Resolution has recently completed a drilling program at gold prospects located on the East Pogo block (Figure 2). A reverse circulation drill was used to test shallow, gently-dipping conductive zones detected in 2020 by ZTEM and CSAMT geophysical surveys. A total of 1,663 meters was drilled over 12 holes. Gently-dipping altered, graphitic zones with quartz and sulfides were reported in several holes. Assay results indicate only anomalous gold values. However, gold pathfinder elements detected indicate possible proximity to a gold-bearing vein system. At the nearby Pogo Mine, rocks close to the gold-bearing veins are enriched in the pathfinder elements bismuth, tellurium, sulfur, and arsenic. From the recent drilling at East Pogo, Resolution has identified a target area measuring 1,600 meters by 2,000 meters for follow-up, with a CSAMT conductive zone beneath. Drill hole 21EP008 intersected sericite and biotite alteration including minor quartz veining with strongly elevated geochemical pathfinder elements. The hole had a trend of increasing gold and alteration intensity over the last 50 meters drilled with sericite alteration present in the last few meters. This signifies potential for gold mineralization at greater depth, perhaps at the level of the CSAMT conductor. The hole unfortunately had to be terminated prior to reaching target depth. Resolution indicates it is considering drilling deeper with a core rig to test the CSAMT target below the geochemical anomaly detected through the shallow reverse circulation drilling program (Figure 3).

Figure 2. Reverse circulation drill rig in operation on the East Pogo block, 64North Gold Project, — **Figure 2.** Reverse circulation drill rig in operation on the East Pogo block, 64North Gold Project,

Figure 3. CSAMT Line 2 Cross Section on the East Pogo block, 64North Gold Project, Goodpaster District, Alaska. — **Figure 3.** CSAMT Line 2 Cross Section on the East Pogo block, 64North Gold Project, Goodpaster District, Alaska.

Fairbanks Gold District Projects

Millrock is in a strategic alliance agreement with Felix Gold Ltd. (“Felix Gold”), a private Australian company that intends to become a public company listed on the Australia Stock Exchange (“ASX”). Millrock is assigning its existing mineral rights in return for Felix Gold shares and royalty interests. Felix Gold is funding exploration work and paying the costs of acquiring claims by staking and by agreements with claim holders. All new properties within the strategic alliance Area of Interest become subject to royalties in favor of Millrock (Figure 4).

Figure 4. Blue shading indicates Millrock / Felix Gold mineral land holdings in the Fairbanks Gold District, Alaska. — ***Figure 4.*** *Blue shading indicates Millrock / Felix Gold mineral land holdings in the Fairbanks Gold District, Alaska.*

A major soil sampling program is well underway. To date, 2,000 soil samples have been collected across the claim holdings. The planned work will be completed at the end of August. Samples are being collected using a small auger Figure 5). The goal is to get uniform, modern soil sample coverage across the claims. Once the soil data is merged with all historic data which has been compiled in a database, drill targeting will be done.

Figure 5. Soil sampling team in action, Fairbanks Gold District, Alaska. — ***Figure 5.*** *Soil sampling team in action, Fairbanks Gold District, Alaska.*

Qualified Person
The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, and Felix Gold.

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

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

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to mount further exploration including drilling in 2021. 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.

Tags 64North, Felix Gold, Gregory Beischer, maurice jackson, Millrock Resources, Pogo Mine, proven and probable, West Pogo

Junior Mining Precious Metals

Irving Resources Announces Plans to Drill Omui Mine Site and Hokuryu in Q3-Q4, 2021 – Provides Update on Q1-Q2, 2021 Omu Sinter Drilling

Post author By admin
Post date August 3, 2021

Irving Resources Inc.Tue, August 3, 2021, 9:00 AM

Figure 1

Plan map of drill hole locations in the southern part of Omu Sinter and a cross section illustrating mineralization encountered in the southern part of the Omu Sinter project area. Note that low-grade mineralization extends from surface to a vertical depth of approximately 180 m. Short intervals of higher grade mineralization are present. Irving suspects a higher grade feeder structure is nearby

VANCOUVER, British Columbia, Aug. 03, 2021 (GLOBE NEWSWIRE) — Irving Resources Inc. (CSE:IRV; OTCQX: IRVRF) (“Irving” or the “Company”) is pleased to announce plans for drilling at Omui Mine Site and Hokuryu in Q3-Q4, 2021 and provide a summary of results from its Q1-Q2, 2021 diamond drill program at Omu Sinter. All three of these targets are part of Irving’s 100% controlled Omu Au-Ag Vein Project, Hokkaido, Japan. An initial drill permit allowing Irving to drill at Hokuryu (officially registered as Shin-Hokuryu, known as New-Hokuryu) has recently been received from the Ministry of Economy, Trade and Industry (METI), Hokkaido Bureau.
https://s.yimg.com/rq/darla/4-8-0/html/r-sf-flx.html

Q3-Q4 Omui Mine Site and Hokuryu Diamond Drill Campaign

Irving plans to undertake diamond drilling at Omui Mine Site and Hokuryu during Q3-Q4, 2021. At Omui Mine Site, Rodren Drilling of Canada will drill a series of holes to follow up previous high-grade vein intercepts at the Honpi and Nanko targets. At Hokuryu, the maiden drill program will be undertaken using a Japanese-based drill contracted from Sumiko Resources Exploration & Development Co., Ltd., a wholly-owned subsidiary of Sumitomo Metal Mining Co., Ltd. Drilling will focus on the following priorities:

Honpi

Three holes will target extensions of veins encountered in some of the deeper holes completed over the past two years, particularly hole 19OMI-010 which encountered such notable intercepts including 3.00 m grading 27.0 gpt Au and 40.5 gpt Ag, 1.10 m grading 29.6 gpt Au and 36.5 gpt Ag, 3.77 m grading 12.3 gpt Au and 84.5 gpt Ag, and 1.20 m grading 7.8 gpt Au and 887.5 gpt Ag. The three planned holes will be positioned to test areas both east and west of hole 19OMI-010. (Please refer to the Company’s news releases dated December 17, 2019 and February 7, 2020)
One hole will test areas north of the historic Honpi vein where shallow holes completed in 2019 encountered high-grade veins. Intercepts include 1.00 m grading 19.25 gpt Au and 27.50 gpt Ag in hole 19OMI-001 and 1.80 m grading 6.05 gpt Au and 808.18 gpt Ag in hole 19OMI-002. The planned hole is expected to hit extensions of these veins. (Please refer to the Company’s news release dated December 17, 2019)

Nanko

One hole with test for deeper extensions of veins encountered in holes 20OMI-003, 20OMI-004 and 20OMI-005 last year. Most notably, hole 20OMI-003 encountered two veins, one grading 8.15 gpt Au and 147.29 gpt Ag over 1.76 m within a broader intercept of 3.55 gpt Au and 69.24 gpt Ag over 14.24 m and a second vein grading 21.65 gpt Au and 538.75 gpt Ag over 1.72 m including 56.10 gpt Au and 1,435.00 gpt Ag over 0.60 m. The planned hole will be drilled generally from north to south. (Please refer to the Company’s news release dated November 13, 2020)
A second hole will test an area northeast of holes 20OMI-006, 20OMI-007 and 20OMI-008 with vein intercepts of 2.39 m grading 5.22 gpt Au and 103.6 gpt Ag, 2.99 m grading 4.34 gpt Au and 26.8 gpt Ag and 2.00 m grading 3.98 gpt Au and 26.1 gpt Ag, respectively. The planned hole is designed to hit extensions of these veins. (Please refer to the Company’s news release dated February 9, 2021)

Hokuryu

Up to four holes are designed as a maiden drill test of the Hokuryu vein system. Mining was undertaken at Hokuryu for a few short years until it abruptly ceased in 1943. Irving’s recent controlled source audio-magnetotellurics (“CSAMT”) geophysical program has identified a large corridor of resistive, presumably silicified, rock extending well beyond the historic mine area. These initial holes will test select areas along this corridor for vein extensions and new veins.
Given the higher altitude at Hokuryu, completion of this program is dependant on weather. If holes remain uncompleted in 2021, Irving plans to complete this program as soon as possible in the spring of 2022.

Summary of Omu Sinter Drill Results

Earlier this year, Irving completed a series of four diamond drill holes at the Omu Sinter target. Holes 21OMS-002 and 21OMS-004 tested an area underlain by a broad expanse of silica sinter terrace in the southern part of this project area. Both holes encountered multiple long intervals of low grade gold and silver mineralization in bedded silica sinter and highly silicified, often hydrothermally brecciated, rocks beneath (see table below). Short intervals of higher grade mineralization were intersected. Remarkably, mineralized rock extends from surface to a vertical depth of approximtely 180 m (Figure 1). Although a high-grade feeder was not encountered, Irving believes potential for such a structure is good given the remarkable strength of this system and the presence of short, higher grade intervals in these holes. Irving plans to review this data and acquire additional structural data in an effort to identify a potential feeder structure prior to future drilling.

Summary of Results from Holes 21OMS-002 and 21OMS-004 at Omu Sinter

Hole	From (m)	To (m)	Length (m)	Gold (gpt)	Silver (gpt)	*Gold eq (gpt)*	*Silver eq (gpt)*
21OMS-002	15.11	23.80	8.69	0.23	6.33	0.32	22.9
	31.50	37.80	6.30	0.46	8.49	0.58	41.6
	48.50	53.13	4.63	0.25	5.43	0.33	23.4
	61.47	165.60	104.13	0.23	15.13	0.44	31.7
including	61.47	61.79	0.32	3.13	60.00	3.96	285.4
and	90.00	92.50	2.50	1.45	28.22	1.84	132.6
and	110.00	113.40	3.40	0.26	62.93	1.13	81.7
	181.50	224.00	42.50	0.18	11.33	0.34	24.3
21OMS-004	4.90	70.60	65.70	0.75	0.48	0.76	54.5
including	13.90	48.90	35.00	0.58	28.14	0.97	69.9
including	28.23	31.11	2.88	1.00	72.29	2.00	144.3
	102.35	133.78	31.43	0.24	5.98	0.32	23.3
	141.44	145.61	4.17	0.27	8.37	0.39	27.8
	246.05	249.90	3.85	0.99	8.85	1.11	80.1
including	246.27	247.30	1.03	2.27	18.19	2.52	181.6
	321.00	322.00	1.00	0.24	66.70	1.17	84.0
Au eq (gpt) = Au (gpt) + Ag (gpt)/72

Holes 21OMS-001 and 21OMS-003 tested CSAMT anomalies to the west and east of the main Omu Sinter trend, respectively. Although each hole encountered hydrothermally altered volcanic rocks, only anomalous Au and Ag values were encoutered. Therefore, Irving believes all mineralization at Omu Sinter occurs within the 1.2 km long north-south corridor now tested by multiple holes.

“Irving has an aggressive drill program planned beginning approximately September 1, 2021″ commented Dr. Quinton Hennigh, director and technical advisor to Irving. “Two drills will be operating, one conducting follow up drilling of high-grade veins at Omui and a second undertaking maiden drilling at Hokuryu, a very large untested high-grade vein target. We are very eager to get back to work. At Omu Sinter, we have identified a remarkably large volume of mineralized bedded sinter and underlying intensely silicified and brecciated rock in the southern part of this project area. Although low grade, the strength and volume of rock that has been affected suggests a feeder structure is nearby. It may be in an orientation we simply have not explored. We plan to review this data and collect new field data to see if we can better define such a feeder structure prior to future drilling.”

All samples discussed in this news release are ½ split sawn diamond core samples. Irving submitted rock samples to ALS Global, Vancouver, Canada, for analysis. Au and Ag were analyzed by fire assay with AA finish. Overlimit samples were assayed by fire assay with gravimetric finish. Multielements were analyzed by mass spectrometry following four acid digestion. Irving staff are responsible for geologic logging and sampling of core. Au equivalent is calculated by adding Au (gpt) to Ag (gpt)/72.

Quinton Hennigh (Ph.D., P.Geo.) is the qualified person pursuant to National Instrument 43-101 responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a technical advisor and director of Irving Resources Inc.

About Irving Resources Inc.:

Irving is a junior exploration company with a focus on gold in Japan. Irving also holds, through a subsidiary, a Joint Exploration Agreement with Japan Oil, Gas and Metals National Corporation (JOGMEC). JOGMEC is a government organization established under the law of Japan, administrated by the Ministry of Economy, Trade and Industry of Japan, and is responsible for stable supply of various resources to Japan through the discovery of sizable economic deposits of base, precious and rare metals.

Additional information can be found on the Company’s website: www.IRVresources.com.

Akiko Levinson,
President, CEO & Director

Forward-looking information
Some statements in this news release may contain forward-looking information within the meaning of Canadian securities legislation including, without limitation, statements as to the timing of receipt of the results of drill samples and planned exploration activities. Forward-looking 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 mineral resource exploration industry, the availability to Irving of sufficient cash to fund any planned drilling and other exploration activities, as well as the performance of services by third parties.

THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5dc40814-bdca-41d7-bbcb-ad6280a0e2a4

Tags akiko levinson, InvestingInJapan, Irving Resources, maurice jackson, Omu Gold Project, proven and probable, Quinton Hennigh

Base Metals Breaking Emx Royalty Energy Exclusive Interviews Junior Mining Precious Metals

EMX Royalty – Adds 18 New Royalty Properties from SSR Mining

Post author By admin
Post date August 2, 2021

Maurice Jackson:

Joining us for a conversation is David Cole, the CEO of EMX Royalty (NYSE: EMX | TSX.V: EMX), the Royalty Generator.

Maurice Jackson:

Honored to have you with us today sir, as you have some breaking news for shareholders, as EMX Royalty has just consummated a watershed moment with the announcement of the Royalty Portfolio purchase agreement with SSR Mining (Press Release). Mr. Cole, thank you for allowing me to be the first to say congratulations’ sir on a significant milestone on what may be the biggest company event in the history of EMX Royalty.

David Cole:

We are very pleased with this transaction, pleased to have SSR Mining as a shareholder in the company, and it’s been a pleasure to work with them.

Maurice Jackson:

Let’s get right into the press release, the EMX Royalty acquisition consists of 18 geographically diverse royalties with 4 royalty assets at advanced stages of project development. Please provide us with the details of the Royalty Purchase Agreement with SSR Mining.

David Cole:

Well, we’re paying $66 million upfront for this portfolio, $33 million in share capital, and $33 million in cash, which are deferred payments depending upon the performance of the Yenipazar net profit interest royalty in Turkey. Those deferred payments accumulate up to $34 million, but that’s not until that asset cashflows $20 million. We’re pleased with respect to how this is designed. This gives SSR Mining a nice chunk of equity in the EMX which is one of the key things that they were looking for when they chose us to sell the Royalty Portfolio.

Maurice Jackson:

What type of value creation will EMX derive from this transaction and how will it impact the synergies with the existing EMX initiatives around the world?

David Cole:

One of the key things here is immediate large cash flow. The Gediktepe mine which is at the final stages of construction and should be in production within a month or two has a high-grade oxide cap that’s gold enriched with a 10% NSR and we’ll see immediate gold royalty income over double-digit millions of dollars per annum from that royalty right out of the gate. We’re very, very pleased with that so this really propels at the top of our pyramid forward, which is something that we’ve been working on for some time as we’ve discussed previously, with respect to Synergies with our existing portfolio, and one of the reasons why we were able to grab this is because of our relationships in Turkey and our comfort with Lydia as an operator there. And that gave us an edge with respect to working with SSR to accomplish this deal.

Maurice Jackson:

One of the key aspects of this transaction along with all of EMX Royalties is something you’ve covered with us and that is the value proposition of embedded optionality, which is just icing on the cake for each of your royalty properties. Can you please elaborate on the virtues of embedded optionality within royalties?

David Cole:

It’s one of my favorite topics and it’s the reason why royalties traded such premium valuations is because of all the embedded optionality, commodity price optionality, discovery optionality, engineering advancement optionality, et cetera, et cetera. And mining districts have a history of giving and giving and it’s always to the benefit of the royalty holder and no cost to the royalty holder. So that’s why royalties are so dear and I will point out that royalty companies that have large numbers of royalties trade at a much higher valuation per royalty than royalty companies, so the lower number of royalties, this is a phenomenon that’s existed in the royalty sector now for some time. Where the portfolio effect impacts the overall valuation of that portfolio and that’s because of this multiplicative optionality of the entire portfolio. You never know where the big success is going to come from years out.

David Cole:

As you know our goal here is to continue to grow this portfolio through organic methods which we’re good at and have had a track record for 18 years of doing, but also through acquisition. And we’ve been challenged quite honestly, to accomplish big creative acquisitions because it’s a competitive space. That we’ve been very patient. We stood at the plate and they kept throwing more pitches at us and we found one to hit and hit it out of the park.

Maurice Jackson:

Great way to put it, sir. I referenced a watershed moment. Where does today’s press release rank with the relation to the Malmyzh and/or the Timok?

David Cole:

Well, that’s interesting certainly the value proposition of the Timok acquisition is unbeatable because we paid $200,000 Canadian dollars for a royalty that’s going to pay hundreds of millions. So that one’s astonishing, but that had to do with the fact that we were in that district and understood what was going on there very early in the history of the discovery and were able to acquire that royalty early on thanks to our geologic understanding of the region. That’s a tough one to compare. With respect to the Malmyzh transaction that was a fantastic deal that cashed-up EMX and put us in a position where we could do this deal.

David Cole:

And step-by-step we’re building this company. Very pleased with these transactions. Malmyzh was super accretive for us. As you know, we booked $67 million US dollars out of that deal and have put those monies to excellent work. This being the top example. You and other folks have asked me many, many, many times, “What are you going to do with the money, Dave, what are you going to do with the money”? We just kept looking and turning down opportunities and losing sales processes because our bids weren’t as high as our competitors until the right one came along. And one of the key aspects that made this deal happen, as I mentioned, is the fact that SSR specifically wants to be a shareholder in EMX. And I’ve said before that the right transaction that’ll really advance this company is going to be one where the major companies selling their royalties understand the value proposition that EMX offers and want to be a contributor, want to be a member of the team.

Maurice Jackson:

Speaking of the Timok, which is a company making event in and of itself, what are the latest developments there?

David Cole:

It’s going into production. I do believe that they had a couple of delays. So they were originally talking about an opening ceremony in June. I believe that’s been pushed back to August at this point, maybe September, but that’s still ahead of the original schedule. The Chinese have been very aggressive. It’s advancing into production.

Maurice Jackson:

Leaving the property bank Mr. Cole, please provide us with the capital structure for EMX royalty.

David Cole:

Well, we’re sitting here today with $84 million shares issued and outstanding and few over $90 million shares fully diluted. That’s not including the shares that we will issue to SSR, which on a pro forma basis will be approximately 12% of the company. So that’ll push us up towards the 95 issued outstanding and over a hundred million fully diluted at the completion of this transaction, which should hopefully occur within four to five weeks in my opinion. Sitting here today with about $30 million US dollars in cash, of course, those monies get paid to SSR as part of this transaction as well.

David Cole:

We have about $20 million in tradable securities and long-term investments in our portfolio as well and no debt at this time. However, we will be taking on a small $10 million debt from Sprott. We appreciate their support as a capital partner for EMX. They’ve helped us out in the past as well. That puts us in a situation where even though we’re putting out USD $33 million to SSR for this transaction, thanks to Sprott we’ll still have a nice cushion here with respect to money in the treasury to continually advance our organic growth, which is our job one, as you know.

Maurice Jackson:

Just for the record, ladies, and gentlemen, I plan to match my bullion purchases with shares and EMX royalty. I believe the company has the potential to melt-up. And I’m talking about the stock price of course. The stock price, in my opinion, is at a fire sale. And that is Maurice Jackson’s opinion, but not really just my opinion, Mr. Cole, you and I both know some of the most prominent names in the natural resource space. They share the same sentiment about EMX royalty.

David Cole:

Happy to have those guys on as contributors.

Maurice Jackson:

Yes, sir. In closing, what would you like to say to shareholders?

David Cole:

EMX Royalty is in a situation here today where the Bayla royalty of 4% royalty on the lead, zinc, silver mine in Turkey is coming into production. Zijin is advancing the Timok project towards production, of course, Leeville in the background that pays every month. And we have an immense amount of optionality within our pyramid is bubbling up towards the top. And these names I’m throwing out are just examples of that. We’ve talked about the potential for this to become a cash cow over time. We’ve just poured fuel on the fire. We put gasoline on the fire here with this one and the Gediktepe 10% NSR and the oxide gold cap will just propel our gold income in the company here substantially over the next three years. We’re very excited.

Maurice Jackson:

Mr. Cole, for readers that want to get more information about EMX royalty please share the website address.

David Cole:

www.emxroyalty.com -The contact details for myself, Scott Close, and Isabel Belger managing European investor relations, and Scott here in North America are embedded in the website and on the press release feel free to reach out to us.

Maurice Jackson:

Mr. Cole, it’s been a pleasure speaking with you, wishing you and EMX royalty the absolute best, sir.

David Cole:

Thank you, Maurice. Always appreciate your support.

Maurice Jackson:

Tags Balya, Davide Cole, EMX Royalty, maurice jackson, Project Generator, Prospect Generator, proven and probable, Royalty Generator, Scott Close, SSR Mining, Timok

Base Metals Junior Mining Precious Metals

Eloro Delivers Universe Class Results

Post author By admin
Post date July 31, 2021

Bob Moriarty
Archives
Jul 30, 2021

I wrote about Eloro about three weeks ago and pretty much covered the story. The Iska Iska project in Southern Bolivia will be a mine. It is far too big and far too rich not to be a mine under any commodity prices.

The company released drill results on July 28th that probably would not qualify as just world class but it would be more accurate to call it universe class results with 300.75 meters of 129.65 g/t Ag eq.

(Click on images to enlarge)

As I did in my last piece a few weeks ago on Eloro I’m going to cheat a little bit and convert the silver eq into grams of gold. The intercept had a value of about $106 USD per tonne and while 2 grams per tonne gold eq would be about $117, it’s close enough for government work to use 2 grams for ease of understanding.

If you cube the 300.75 meters and use a s/g of 2.7 you get just over 54 million tonnes. Factor in the 2.0 grams and the POG right now of $1831 you have a hole showing about 3.5 million ounces of gold and a total value of $6.4 billion. Since 2 grams of gold is worth about 10% more than the 129.65 grams of silver, reduce that to about $5.8 billion for one hole. In every other case I have used this technique of cubing a hole I say that of course that is the very maximum value you could get out of one cube of that grade. In the case of Iska Iska, it’s entirely possible, indeed probable that they will have cubes of that size and that grade.

Sorry folks but the market just doesn’t get it.

I took the highest gram meter intercept from New Found Gold, which is also a mine in the making, and did the same cube trick because I want potential investors to understand how important long intercepts are. New Found Gold had a world class intercept of 146.2 grams of gold over 25.6 meters for an incredible 3,742 gram meter. That is $8,600 rock. A cubic meter would be worth $23,220.

When you cube it and compare it to Eloro’s hole you get an amazing difference due to the giant length of the 300-meter Iska Iska hole. Eloro had a 54 million tonne hole, NFG had a 45,298 tonne hole. Iska Iska had about 3.15 million ounces compared to 213,000 ounces for NFG. Now I do not want to take anything away from New Found Gold. The company has put in an incredible discovery program and is one of the greatest gold discoveries in the last five years but Iska Iska has a $6 billion hole compared to a respectable $389 million hole for NFG.

As of the close on July 29th, ELO had a market cap of $257 million and they are holding $23 million in cash. The only thing holding them back from bringing in more drills and increasing the speed of exploration is the backlog of 26,000 samples due to Covid.

As an aside, Cartier Iron holds about 2.4 million shares of ELO worth right at $10 million. At a close of $.13 on July 29th, CFE has a market cap of only $11.7 million.

Eloro is an advertiser. I have participated in several private placements in the past and bought shares in the open market. I am naturally biased so do your own due diligence.

Eloro Resources Ltd
ELO-V $4.17 (Jul 29, 2021)
ELRRF-OTCQX 61.7 million shares
Eloro website

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Bob Moriarty
President: 321gold
Archives

321gold Ltd

Tags 321gold, bob moriarty, Eloro Resources, Iska Iska

Exclusive Interviews Junior Mining Precious Metals Uncategorized

Lakewood Exploration Samples 2,744.91 g/t Silver & 4.80 g/t Gold on Silver Strand Mine in Idaho

Post author By admin
Post date July 30, 2021

Maurice:

Joining us for conversation is Morgan Lekstrom, the president of Lakewood Exploration (CSE: LWD: OTC: LWDEF). It’s great to have you join us today to share the latest developments on Lakewood Exploration and the exciting flagship Silver Strand, which has the makings of becoming the next pure silver play in the United States. Before we begin, Mr. Lekstrom, please introduce us to Lakewood Exploration and the opportunity the company presents to shareholders.

Morgan Lekstrom:

Lakewood is a new silver company. We’re a pure silver play. We are looking at our flagship asset in Idaho, the Silver Strand Mine. It was a past-producing mine, and we are looking to go in there, explore it, put the ore body to depth. It was mined at a very shallow depth, only 90 meters. There’s so much potential there. It was held in by a bunch of feuding parties back in the day. The whole land package has never been consolidated like what we’ve done.

Morgan Lekstrom:

And by consolidating this land package, we’re able to get a five-and-a-half-kilometer strike put together, and which allows us the opportunity to explore the area. From what we’re seeing on the surface and in the underground, and we’ll talk about those news releases later, it looks very promising to have a large, large resource and payoff for shareholders, but also near-term production potential, which is the pillar of what we are looking to accomplish at Lakewood.

Morgan Lekstrom:

Lakewood Exploration is looking for that large exploration payoff, near-term production potential, but also acquisitions at the same time that fit that model. We do have a triple-pronged approach and our big concentration right now is on that large exploration payoff at Silver Strand.

Maurice:

The value proposition is quite compelling. Let’s go on-site. Mr. Lekstrom, please introduce us to your flagship Silver Strand and acquaint us with the region and some of your neighbors.

Morgan Lekstrom:

Silver Strand is our flagship mine. It’s in Idaho, in the Silver Valley-Coeur d’Alene, which is one of the most prolific areas on the planet for silver. The region has produced nearly 1.3 billion ounces of silver. Companies such as Hecla and Coeur have their start there. You also have the deep mines within the region, the Lucky Friday Mine, Galena, and Sunshine respectively.

Morgan Lekstrom:

There are not a lot of regions in the world that have extracted as much silver as the Silver Valley-Coeur d’Alene. The Silver Strand is one of the last, I would say, unexplored assets in this area. This is such an exciting opportunity for us. As a pure silver company, we look forward to putting this to depth. Our neighbors in the valley have mines go down to 2,000 meters. We have only scratched the surface, as the Silver Strand is at 90 meters of the original workings.

Morgan Lekstrom:

We’re going to start drilling the Silver Strand, with an emphasis to start pushing that ore body down to prove it. The unique thing about Silver Strand too is that we have something called a gold credit. What that means is there’s a portion of the ore that comes out that has gold in it. And unlike the rest of the mines around the area, this is actually very high-grade gold. What we’d consider higher-grade, which is 5 grams a tonne of what we’re looking at is 5 to even 10 grams a tonne.

Morgan Lekstrom:

To put that into terms, most mines are built on 1 gram a tonne or less. Silver mines. Most mines are built on 100, 200 grams a tone. We’re seeing anywhere from 300 to 2,700 grams a ton out of Silver Strand (Press Release), and this is just the top. If anything is proven in this area, the deeper you go, the better the grade. We’re looking forward to running our exploration program and getting going on this.

Maurice:

The Silver Strand has a historical resource. What is the exploration plan and timeline moving forward to have a complaint NI 43-101?

Morgan Lekstrom:

We’re currently working on our 43-101 in the background, and we plan update the market by the end of summer. We are looking to run the first-stage of our exploration program, as we’ve been saying, by the end of late summer. We’re working on our plans right now. I work all the time with our geology team and making sure we’re looking at the right area and the right mix of geology. We don’t want to do things in an unmethodical way.

Morgan Lekstrom:

In our latest announcement, we were proud to convey that we brought on Rob Burk (Press Release), which is just a tremendous value add for us. Ron is an exceptional geologist and exceptional exploration leader. He’s worked for some huge companies like Centerra Minnig and TecK Resources. Having calls with Ron and having that advisor in the background has helped us already hone in on what we’re looking at in terms of exploration. Also, how we can make the Silver Strand resource 43-101 compliant, build it out and make it a huge discovery. The upside potential of this resource is massive. I mean, if anything from that area, I mean, anything as an indicator, it’s there, in my opinion.

Maurice:

Having the intellectual capital of someone like Mr. Burk doesn’t show up on the balance sheet, but those are the accretive moves that a company has to make to achieve success. Now that we know the plan, let’s test the ‘Proof of Concept’ to date. Since our inaugural interview two months ago, Lakewood Exploration has had some exceptional sample grades. What can you share with us?

Morgan Lekstrom:

Absolutely. As stated earlier, we just announced 2,744 grams a tonne (Press Release). Keep in mind, most mines are built on 100 to 200 grams a tonne silver. We’re getting that from our existing underground, which everyone said, “Oh, it’s been mined out.” Our geologists go in there with new techniques, new technology. They take chip samples in areas, and it’s just a key indicator for us that there’s that high-grade mineralization. We’re seeing it on the surface as well.

Morgan Lekstrom:

There are outcrops all over the place. Having the ability to walk along this 5.5 kilometers strike length has helped us and help build the Silver Strand story out, along with the upside potential of this resource. Being able to walk on ground that hasn’t been walked up to our Burnt Cabin asset gives us confidence that we may be onto something very intriguing. And if anything that is shown by our results of that between 1,700 and 2,700 grams a ton just from chip samples, there’s a huge potential here.

Maurice:

Certainly sounds like it is. Well, let me ask you this, were the sample grades a surprise, or is this what the team had expected?

Morgan Lekstrom:

You expect good results, or you hope for good results. But honestly, I wasn’t expecting to see 2,700 grams a ton right away off a chip sample. It was unexpected, but it was also encouraging. These high grades reaffirmed to the team in the background that we’re doing the right thing. We’re looking in the right areas. And that when we begin the first phase of our exploration program, we’re going to be looking in the right area.

Morgan Lekstrom:

We have something a lot of companies don’t have, which is that existing underground, the ability to go in the historical mining there that was just hand to mouth small scale. We have the ability to blow this resource out big and score some value for the shareholders.

Maurice:

Multilayer question here, and you referenced drilling, what activity is currently being conducted on-site, and is the goal to twin the historic holes?

Morgan Lekstrom:

I can’t provide the full details on that currently, as we are finalizing the plans, and then we’ll have a news release around that. But I can tell you that we’re looking at extending the current non-43-101 compliant resource to depth, to use the words you used, to ‘Proof of Concept’, which is more than a concept for us. We want to show that identity between the mineralization we’re seeing on the surface, the gold credit, see how far that goes, and we also want to get this thing to depth.

Morgan Lekstrom:

Like I said before, a lot of these mines in the area go down to like 2,000 meters, and we’re only at 90. For us, it’s all about drilling and getting down there and chasing that resource down.

Maurice:

Before we leave the site, what is the next unanswered question for Lakewood Exploration? When can we expect a response, and what will determine success?

Morgan Lekstrom:

I’d say the next unanswered question for Lakewood is, what’s in the pipeline as far as acquisitions? And all I can say on that is stay tuned. What’s going on at Silver Strand for drilling? We’re looking forward to drilling in the late summer. Plus, we’re adding very, very competent, meaningful people to our team.

Morgan Lekstrom:

My background as a mine builder, I’ve worked all over the world building mines for large companies, small companies. It changes the dynamic of the team when you have geologists, amazing capital markets people, and mine building folks in the mix. We do have what it takes to take something through exploration, make the resource huge, and build it. That’s a very unique position for us and for the mining industry.

Maurice:

Yes, sir. The synergies complement one another with Lakewood Exploration. You have experts with a proven pedigree of success. You were brought on board recently, as well as Mr. Burk, and who else was added to the team, sir?

Morgan Lekstrom:

We have Lawrence Roulston. We have Ron Burk, like you mentioned. Myself. We have Kristina Pillon. She’s our head of IR. She’s unbelievable in what she does as well. And just lots of energy in our team so far. We’re going to add a lot more people in the right time and the right positions.

Morgan Lekstrom:

We added our chief geologist, I can’t forget him, Phil Mulholland. Phil is an exceptional geologist with a proven track record in the Western US, in Idaho as well. He’s worked all around the Coeur d’Alene area. He’s worked all over Montana. He’s worked for big companies like Barrick. I just can’t say enough good things about Phil and his dedication to the profession, but also to the Silver Strand project. The ideas that flow, we’re just approaching it with a very unique and new technology.

Morgan Lekstrom:

And Phil’s the right person to be working with that side of it, his ideas and the crew, between him and Ron and how we all communicate together. We have Joness Lang in the background too who’s an also a proven capital markets expertthere and he’s senior VP for Maple gold.

Maurice:

Switching gears, let’s look at some numbers. Mr. Lekstrom, please provide the capital structure for Lakewood Exploration.

Morgan Lekstrom:

We have about 33.8 million shares out. We have about 7.5 million share free trading right now. We’ve got 7.5 million warrants out, and we’ve had a very good run so far. Very successful. I think we’re hitting all the right tunes and all the right notes with our capital structure. It’s very tightly held. We’re in a very good place from a capitalization standpoint and a treasury standpoint. We just raised 3.5 million dollars with 14 million shares. We are well-positioned to execute and to execute on exactly what we’re saying and won’t need more capital anytime soon.

Maurice:

You’re also rewarding shareholders. Speaking of the market cap, Lakewood Exploration has been on a roll. Since our inaugural interview on May 31st, the stock was trading at $.29, and since has moved up to $.76. Congratulations, sir.

Morgan Lekstrom:

Thanks, Maurice. It’s exciting and positive to see the markets responding to the Silver Strand and the Lakewood story, but also to the capital structure and how this whole company has been structured is important to a shareholder to know that there is a lot of room to grow, but it’s also tightly held. It’s not just a large vehicle of shares out everywhere. We’re making sure that we have the ability to bring the value of the shareholders in a meaningful way.

Maurice:

And speaking of shareholders, I am a proud shareholder, by the way.

Morgan Lekstrom:

Oh, thank you.

Maurice:

Honored. Before we close, Mr. Lekstrom, what would you like to say to shareholders?

Morgan Lekstrom:

And I know I said this earlier, be on the lookout for the execution of our three-pronged approach on the acquisition side, stay tuned.

Maurice:

Looking forward to it. What keeps you up at night that we don’t know about?

Morgan Lekstrom:

I’ve been on many projects around the world, and there’s been a lot of times I’ve been kept up late at night for reasons I don’t want to go into it. But here with Lakewood Exploration and the Silver Strand. I’m not kept up at night because we have such a competent team. We have such good leadership in the right places. If there is something, we work it out right away. We have enough credible experience around us to solve challenges and not to delay. It’s a unique position as a company, but even for me to be the president of the company to have that ability to lean on technical experts like Ron Burk, to lean on our VP of exploration Lawrence Roulston when we need to and collaborate and have those great conversations. It’s unique.

Maurice:

Last question, what did I forget to ask?

Morgan Lekstrom:

As much as I say, we’re in the makings of a great mining company, I just remind people that silver is one of these commodities that isn’t just a hedge. It’s used in manufacturing. It’s used in making of video cards for cryptocurrency mining. It’s used in making a semiconductor. It’s used in making the microchips through silver pace.

Morgan Lekstrom:

This is not a commodity to be taken lightly. If the historic proves anything, we’re underperforming compared to our other commodities. I think there’s a big opportunity here. I’m a silver bull, but I think proven from the technology side and the market side, I think we’re onto something amazing here. Lakewood is getting positioned and we are positioned to take advantage of that for our shareholders.

Maurice:

Mr. Lekstrom, for someone that wants to learn more about Lakewood Exploration, please provide those contact details one more time.

Morgan Lekstrom:

Take a look at our website, www.lakewoodexploration.com. If you go to the bottom, Kristina Pillon’s phone number and email are there. She’s fantastic to speak with, if any questions need to be relayed up to me, she can do that.

Maurice:

Hands down, I have to give it to you, your corporate deck is amazing. It’s the best I’ve seen ever. I’d encourage anyone to go to the website. Take a look at their corporate presentation. They’ve put a tremendous amount of effort and it shows. All right. Mr. Lekstrom, it’s been a pleasure speaking with you, sir. Wishing you and Lakewood Expiration the absolute best.

Morgan Lekstrom:

Thanks, Maurice. You too.

Maurice Jackson:

Tags Investing in Idaho, investing in silver, Lakewood Exploration, Morgan Lekstrom, Pure Silver Play, Silver Strand Mine

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Category: Precious Metals

Labrador Gold Intersects 44.08 g/t Gold Over 4.28 Metres at Big Vein, Kingsway Project

EMX Acquires Royalty on Caserones Copper-Molybdenum Mine in Northern Chile

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Eloro Delivers Universe Class Results

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Lakewood Exploration Samples 2,744.91 g/t Silver & 4.80 g/t Gold on Silver Strand Mine in Idaho

FOUNDATIONAL READING

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August 16, 2021

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Figure 1

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