Categories
Precious Metals

JUNIOR MINING | Columbus Gold Continues Moving Forward on the Permitting Process for the Montagne d’Or Gold Project in French Guiana

VANCOUVER, British Columbia, Nov. 01, 2018 (GLOBE NEWSWIRE) — Columbus Gold Corp. (CGT: TSX, CGTFF: OTCQX) (“Columbus”) is pleased to provide a permitting update for the Montagne d’Or gold mine project located in French Guiana, France.

In September 2018, the French National Commission of Public Debate (the “CNDP”) published a report (the “Report”) on the public hearings carried-out for the Montagne d’Or gold project, which concluded in the summer of 2018 (news release dated August 7, 2018). The hearings and the Report were successfully completed over a 5-month period as scheduled.

The Report consolidates the feedback gathered from 14 public meetings, which attracted approximately 1,500 participants, and an online platform that had 5,928 visits and generated 232 opinions, 211 questions, 184 comments, and 39 contributions.

The Report recommends that the Montagne d’Or joint venture (Columbus 44.99% and Nordgold 55.01%) consider the following in order to pursue development of the Montagne d’Or project:

  • Do not underestimate cultural values;
  • Improve transparency;
  • Be more precise on the definition of risk management measures;
  • Test wherever possible, several options on sensitive elements of the project;
  • Take into consideration recommendations of the French Geological and Mining Research Bureau (BRGM);
  • Prioritize options that minimize risks and impacts, to help ensure that Montagne d’Or will be a responsible mining operation.

Pursuant to the procedures established by the CNDP, the Montagne d’Or joint venture has until December 7, 2018 to declare in the Journal Officiel (a government publication) if it intends to proceed with permit applications to develop the Montagne d’Or gold project; taking into account the CNDP’s above recommendations, and any modifications to the development plan resulting thereunder.

In addition, in July 2018 the French government formed a committee to assess the social and economic benefits, and the impacts, of the development of the gold mining industry in French Guiana, taking into consideration in particular Montagne d’Or, the most advanced large gold project in French Guiana.  The committee is a joint ministerial task-force under the direction of the French Ministers of Environment, of Economy and Finance, and of Overseas Territories.  Columbus and the Montagne d’Or joint venture are working closely with this task-force, which is expected to deliver its conclusions in a report to the relevant ministers in December 2018.

ABOUT COLUMBUS GOLD

Columbus is French Guiana’s leading gold exploration and development company.  Columbus holds a major interest in the world-class Montagne d’Or gold deposit.  A feasibility study for Montagne d’Or was filed in May 2017, and the permitting process is currently underway.  Columbus is also earning into the Maripa gold exploration project where past drilling has returned excellent near surface results, including 36 meters of 4.3 g/t gold.

ON BEHALF OF THE BOARD,

Robert F. Giustra
Chairman

For more information contact:

Investor Relations
(604) 634-0970 or
1-888-818-1364
info@columbusgold.com

Certain statements and information contained in this press release constitute “forward-looking statements” within the meaning of applicable U.S. securities laws and “forward-looking information” within the meaning of applicable Canadian securities laws, which are referred to collectively as “forward-looking statements”. The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for certain forward-looking statements. Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”, “continue”, “forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”, “would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.  Forward-looking statements in this and other press releases include but are not limited to statements and information regarding: its plans, or modifications thereunder, to develop Montagne d’Or ; the construction and development plans for the Montagne d’Or gold mine, including anticipated timing thereof; the satisfaction of additional requirements to the construction of the Montagne d’Or gold mine, including but not limited to, the submission and processing of mine permit applications; the delivery of a concluding report from the French joint ministerial task-force for Montagne d’Or; and the earning into of the Maripa gold exploration project.  Such forward-looking statements are based on a number of material factors and assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to differ materially from those anticipated in such forward-looking information. You are cautioned not to place undue reliance on forward-looking statements contained in this press release. Some of the known risks and other factors which could cause actual results to differ materially from those expressed in the forward-looking statements are described in the sections entitled “Risk Factors” in the Annual Information Form of Columbus Gold Corp., available on SEDAR under Columbus’ profile at www.sedar.com.  Actual results and future events could differ materially from those anticipated in such statements. Columbus undertakes no obligation to update or revise any forward-looking statements included in this press release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

Categories
Precious Metals

JUNIOR MINING | Irving Resources Receives Mining Permit at its Omu Gold-Silver Project, Hokkaido, Japan

October 30, 2018
Vancouver, British Columbia, October 30, 2018 (Globe Newswire) – Irving Resources Inc. (CSE:IRV) (“Irving” or the “Company”) is pleased to announce it has received approval from the Ministry of Economy, Trade and Industry (“METI”) of its Omui Mine Plan covering mining and exploration related activities at its Omui Mining License (“Omui”). Omui is part of Irving’s 100% controlled Omu gold-silver project, Hokkaido, Japan.
Approval of this Omui Mine Plan is a very important step and allows Irving to bulk sample and ship the material offsite, and conduct diamond drilling and other advanced exploration activities. Omui is one of Irving’s key high grade target areas at Omu. With this approval, Irving must now submit the Omui Mine Safety Regulation for acceptance.
Approval of Irving’s Omu Sinter drilling permit, a separate application from the Omui Mine Plan, is currently awaited. Omu Sinter is another one of the high priority targets at Omu.
As discussed in the Company’s news release dated October 19, 2018, Irving is currently working with Mitsui Mineral Development Engineering Co., Ltd. (“MINDECO”) and Rodren Drilling Ltd. to mobilize a diamond drill to Omu. Further updates about timing of drilling will be provided as these various items are organized.
“Approval of our Mine Plan by METI is very encouraging”, commented Akiko Levinson, President and Director of Irving Resources. “Not only does this give us approval to conduct bulk sampling, trenching and diamond drilling, this establishes Irving as a mining company in Japan”.
Quinton Hennigh (Ph.D., P.Geo.) is the Qualified Person pursuant to National Instrument 43-101 responsible for, and having reviewed and verified, 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, Project Venture Agreements with Japan Oil, Gas and Metals National Corporation (JOGMEC) for joint regional exploration programs in the United Republic of Tanzania, the Republic of Malawi and the Republic of Madagascar. 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 & Director

For further information, please contact:
Tel: (604) 682-3234 Toll free: 1 (888) 242-3234 Fax: (604) 641-1214
info@IRVresources.com
THE CSE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE.
Categories
Base Metals Precious Metals Project Generators

PROJECT GENERATOR | EMX Royalty Receives Initial Cash Payment of US $65 Million From IG Copper’s Sale of the Malmyzh Project

Vancouver, British Columbia–(Newsfile Corp. – October 30, 2018) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the Company or EMX) is pleased to announce that it has received its initial cash distribution of US $65.15 million from IG Copper LLC’s (“IGC”) sale of the Malmyzh copper-gold porphyry project (“Malmyzh” or the “Project”). IGC sold Malmyzh to Russian Copper Company (“RCC”) for US $200 million, of which US $190 million has been released from escrow1. The remaining US $10 million from the sale is being held in escrow, and subject to certain conditions, cash distributions of up to US $4 million will be made to EMX as funds are released from escrow over the next 12 months.

EMX’s strategic investment in IGC resulted from the Company’s recognition of Malmyzh in 2011 as an early-stage opportunity with excellent discovery potential. EMX took a disciplined investment approach by backing IGC’s initiatives to steadily advance the Project over the years, and when market conditions allowed, maximized value for EMX’s shareholders and IGC’s investors by supporting the sale of Malmyzh to RCC. The Malmyzh sale is a milestone event for EMX, and the Company enthusiastically looks forward to future successes in building value for its shareholders.

About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments. Please see www.EMXroyalty.com for more information.

About IGC. IGC, a privately held company, is led by President and CEO Thomas E. Bowens, and includes key personnel with a track record of exploration discovery and project development in the Russian Far East.

-30-

For further information contact:

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

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

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

1 See EMX news release dated October 11, 2018.

Forward-Looking Statements

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

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the six month period that ended on June 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F 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.

Categories
Precious Metals

JUNIOR MINING | Novo Discusses Plans for Egina

VANCOUVER, British Columbia, Oct. 30, 2018 (GLOBE NEWSWIRE) — Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to discuss recent findings and exploration plans at its recently acquired Egina gold project, Western Australia.

Like Novo’s Karratha gold project, Egina is an important part of the Pilbara conglomerate gold province. Not only does Egina have potential to host significant deposits of gold-bearing conglomerates, weathering and erosion appear to have liberated considerable gold from these rocks and redeposited it into extensive surficial lag gravel deposits blanketing much of the area. Gold-bearing gravels can easily be explored as described in Novo’s aggressive exploration program described below.

Egina Exploration Model Highlights:

  • Egina lies in the heart of the Pilbara conglomerate gold province approximately 120 km east of Novo’s Karratha gold project (please refer to Figure 1). Upon recognizing its conglomerate gold potential, Novo began applying for multiple exploration licenses covering much of the core area beginning in 2017. On September 17, 2018, Novo announced two transactions; the acquisition of private company Farno-McMahon Pty Ltd (“FM”), and a joint venture with ASX-listed Pioneer Resources Limited, increasing Novo’s Egina project to 948 square km. Importantly, purchase of FM included granted mining leases M47/560 and M47/561 covering approximately 11.8 square km of key target areas.
  • Three styles of gold mineralization are recognized at Egina: 1) basal Fortescue gold-bearing conglomerates like those at Novo’s Karratha gold project, 2) gold-bearing, deflationary and/or marine lag gravels blanketing an erosional terrace covering most of the Egina area, and 3) lode gold mineralization hosted by the underlying Mallina Basin assemblage.
  • Given the large size of the target, Novo considers the gold-bearing terrace lag gravels to be the most important immediate target at Egina. Gravel deposits form a continuous sheet across much of the terrace, and their origin is depicted in Figure 1. Where they have been trenched, they are up to 1.5 meters thick and weakly consolidated. Lag gravels rest on weathered Mallina Group sedimentary rocks, and up to 1 meter of soil and sand overlie them.
  • Novo has discovered considerable cobbles and boulders of weathered Fortescue-type conglomerate within the lag gravels. Particulate gold has been observed in the matrix of some conglomerate boulders. A few gold nuggets that have been recovered from trenches at Egina remain partially encased in ferruginous rock matrix, some of which display a distinctive melon seed shape similar to nuggets observed at Karratha. Remarkably, halos of fine-grained gold are evident in the residual rock matrix surrounding these nuggets, again strikingly similar to that observed around in situnuggets at Karratha. Novo firmly believes much of the gold in lag gravels is derived from geologically recent weathering and erosion of Fortescue-type conglomerates that once blanketed this area.
  • Most gold found at Egina is coarse and water-worn. During the 2018 exploration season, FM focused entirely on metal detecting nuggets within a series of trenches covering an area roughly 500 x 200 meters. Detected nuggets range in size from approximately 0.5-104 grams. As a test for the presence of fine-grained gold, Novo recently assessed gravel from these trenches. Significant numbers of small nuggets up to 4 mm across were recovered along with appreciable very fine gold particles down to approximately 10 microns in size (please refer to Figure 1). Novo finds the presence of fine gold particularly encouraging and believes it may be derived, in part, from weathering of halo gold associated with Fortescue-type nuggets.

2018 Exploration Plans

°  Systematic sampling of
•  largely unworked areas of lag gravel within M47/560
•  gravels already excavated but not processed by FM that have shown appreciable fine gold in preliminary testing (please refer to Figure 1)
°  Geophysical testwork including ground penetrating radar and ground magnetics to define terrace and channel geometries
°  Trench mapping and survey pickup to delineate gravel horizons for input into a 3D model
°  Conduct broader-spaced program of alluvial sampling for fine gold and develop coarse gold assessment strategy
°  Assess Novo’s IGR3000 alluvial processing plant for suitability and engineering modifications ahead of bulk sampling of the terrace gravels in 2019
°  Regional 1:2,500 scale mapping to define areas of conglomerate gold and basement gold potential

Novo plans to engage the Kariyarra and Mugarinya Traditional Owner Groups to seek permission to explore on Novo-controlled exploration licenses surrounding M47/560. Environmental regulators will also be engaged regarding permitting requirements for the project, laying the groundwork for Novo to conduct test mining of lag gravels on mining lease M47/560 at Egina beginning after the rainy season, approximately second quarter of calendar 2019.

“Egina is a very special gold-property,” commented Dr. Quinton Hennigh, Chairman and President of Novo Resources Corp. “Upon recognizing the potential for conglomerate gold here, we diligently assembled a large land position covering the area. What really caught our attention was the presence of appreciable gold in the lag gravels covering the vast flat terrace system covering the region. Our research over the past few months has led to compelling evidence this gold is likely derived from basal Fortescue conglomerates like those 120 km west at Karratha. We find this particularly intriguing because it suggests there was, in recent geologic time, a potentially large source of detrital gold that has been weathered, eroded, then reconstituted into lag gravels. These unconsolidated gravels are situated within a meter of surface allowing for easy exploration and assessment.”

Dr. Quinton Hennigh, P. Geo., the Company’s President and Chairman and a qualified person as defined by National Instrument 43-101, has approved the geological content of this news release.

About Novo Resources Corp.

Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 12,000 sq km with varying ownership interests. 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.

“Quinton Hennigh”
Quinton Hennigh
President and Chairman

Neither 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 news release.

Forward-looking information 
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to planned exploration activities. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the performance of services by third parties and the issuance of necessary approvals and permits by regulatory authorities.

(Figure 1 – Images discussing the Egina gold project.

Location MapEgina lies approximately 120 km east of Novo’s Karratha conglomerate gold project and 200 km northwest of Novo’s Beaton’s Creek conglomerate gold project.

Egina FlatsA vast erosional terrace, partly terrestrial and partly marine in origin, covers most of the country around Egina. This terrace region has yielded alluvial gold since the 1880’s. Novo believes this gold was derived from weathering and erosion of Fortescue gold-bearing conglomerates that blanketed this area until recent geologic time.

Fortescue Basin: Remnants of Fortescue Group gold-bearing conglomerates and Mt Roe basalt cap small mesas scattered across southern portions of the Egina area.

Schematic Section through Egina: As Fortescue Group rocks have been weathered and eroded away, a residual lag gravel has formed containing gold likely derived from them. Wind blown sand and soil cover the lag gravel in most areas. Lode gold deposits in underlying Mallina Basin sedimentary rocks may have also yielded some gold.

Lag Gravel: Lag gravels are unconsolidated and easily excavated (top photo). The lag gravel horizon is up to 1.5 meters thick in areas that have recently been trenched (bottom photo). Weathered Mallina Group sedimentary rocks form the platform underneath and wind blown sand and soil rest above the lag gravel.

Conglomerate: Novo geologists have found numerous cobbles and boulders of Fortescue-type conglomerate in lag gravels at Egina (top and bottom left photos). These rocks often display rounded patches of iron oxides after weathered pyrite pebbles. Particles of gold have been observed in the matrix of conglomerate boulders (center right photo). A few gold nuggets that have been recovered from trenches at Egina remain partially encased in ferruginous rock matrix (lower right photo). These nuggets display a distinctive melon seed shape similar to nuggets observed at Karratha. Halos of fine-grained gold are evident in the residual rock matrix surrounding these nuggets, again strikingly similar to that observed around in-situ nuggets at Karratha. Novo believes much of the gold in lag gravels is derived from geologically recent weathering and erosion of Fortescue-type conglomerates that once blanketed this area.

Egina Gold: A comparison of a melon seed type nugget from Comet Well to a similar one eroded from Fortescue conglomerates at Egina (upper left photo). Recently detected nuggets from Egina range in size from approximately 0.5-104 grams (upper right photo). Novo recently assessed a test sample of gravel from these trenches. Significant numbers of small nuggets up to 4 mm across were recovered along with appreciable very fine gold particles down to approximately 10 microns in size (bottom photo). Novo believes fine-grained gold may be derived, in part, from weathering of halo gold associated with Fortescue-type nuggets. Please note that gold mineralization in the above figure is not necessarily representative of the mineralization hosted on the Egina property.)

A PDF accompanying this announcement is available at: http://resource.globenewswire.com/Resource/Download/6befe6d0-5029-4963-8b06-fddb714bd73b

Categories
Precious Metals

JUNIOR MINING | Gowest Gold Signs Definitive Milling Agreement

TORONTO, Oct. 30, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (GWA.V) is pleased to announce that it has entered into a definitive Custom Milling Agreement (“the Agreement”) with QMX Gold Corporation (“QMX”) pursuant to which QMX will process material from the Company’s Bradshaw Gold Deposit (“Bradshaw”) at its  Aurbel Mill (the “Mill”) located in Val d’Or, Quebec.

Pursuant to the Agreement, Gowest will be obligated to fund certain upgrade permits and capital expenditures necessary to use the Mill to process Bradshaw material as part of its bulk sample and pre-production program, followed by production at Bradshaw.  Assuming all necessary permits are received and upgrades are performed, the Agreement will have a four (4) year term with an option to extend. Gowest has already stockpiled over 28,000 tonnes of development material on surface in preparation for ore-sorting. (See Gowest news release dated April 16, 2018.) The Company intends to truck sorted mineralized material to the Mill for toll milling into a high-grade gold concentrate. Gowest will then ship the gold concentrate to the Humon Smelter, Shandong Province China (see Gowest news release dated February 14, 2018) for final processing and sale.

With the execution of the definitive agreement, QMX and Gowest will immediately form a Technical Committee made up of individuals from both parties that will oversee the application and receipt of necessary permits required by the Province of Quebec to process third party material and start up of the Mill.  At this time, it is expected that processing will begin mid-2019.  In conjunction with preparing the Mill for start up, the Company intends to crush and sort the material on surface at the Bradshaw site, continue the infill drill program and continue preparations for underground mining.  Gowest will provide updates on its progress and timing as information becomes available.

Gowest President & CEO, Greg Romain said, “We are very pleased to have reached this agreement with QMX, which represents a vital milestone in our development of Bradshaw and in our goal of advancing it into a commercial gold mine.”  Mr. Romain added, “The termination of the previously executed agreement for toll milling prevented the Company from moving the project into the next phase of mining and financing. Now that we have closed the loop, we will be able to finalize discussions on completing the necessary funding of the project.”

Qualified Person

The technical information in this news release has been reviewed and approved by Mr. Jeremy Niemi, P.Geo., Gowest’s Director of Exploration, who is the Qualified Person for the technical information in this news release under National Instrument 43‐101 standards.

About Gowest

Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100-square‐kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43-101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 grams per tonne gold (g/t Au) containing 422 thousand ounces (oz) Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre-Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Mineral Reserves (Mineral Resources are inclusive of Mineral Reserves) in the probable category, using a 3 g/t Au cut-off and utilizing a gold price of US$1,200 / oz, totaling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.

Forward-Looking Statements

This news release may contain certain “forward looking statements”. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.  Any forward-looking statement speaks only as of the date of this news release and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise.

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.

For further information please contact:

Greg Romain Greg Taylor
President & CEO Investor Relations
Tel: (416) 363-1210 Tel: 416 605-5120
Email: info@gowestgold.com Email: gregt@gowestgold.com
Categories
Precious Metals

JUNIOR MINING | GeoChemistry results from Cabin Lake Gold Project are in!

Vancouver, British Columbia – (October 29, 2018) – Rover Metals Corp. (TSXV: ROVR) (“Rover Metals” or the “Company“) is pleased to announce results of its soil geochemical survey on its 100% owned Cabin Lake Gold Project, NT, Canada.
Rover Metals’ Fall 2018 Exploration Program at its Cabin Lake Gold Project has focused on revisiting the historic gold zone occurrences over the gold-rich iron formation to better understand the system, geology, structure and mineralization. The Fall 2018 Exploration Program has combined a detailed Total Magnetic Field UAS Survey with a Soil Geochemistry Survey. The second phase of the Cabin Lake Gold Project exploration program will consist of diamond drilling scheduled for the upcoming winter months.
The results from the Geochemical Survey, even at the ultra-trace level, reveal strong coincident gold anomalies around and on known historic gold mineralization areas, particularly over the Camp and Andrew South Zones. The survey also shows a new additional well-defined anomalous zone in the south-east zone of the property.
The interpretation of the results from field reconnaissance, the magnetic survey and the preliminary soil sampling analysis supports the hypothesis of a gold bearing system in the form of a shear corridor intersecting a series of folded iron formations, with gold preferentially being deposited within sulphidized sections of the iron formations in such zones. Rover Metals’ interpretation supported by the new gold in-soil anomalies, also supports the hypothesis that there is a much more extensive gold system than initially discovered by Aber Resources’ historic exploration drilling in the late 1980’s which only focused on one folded section of the Bugow Iron Formation. Rover Metals has identified repetitive targets within these northeast-southeast shear corridors. The Company believes the Cabin Lake system is similar in kind and style to the historic Lupin Gold Mine in Nunavut, Canada, and to some extent to the Musselwhite Gold Mine in Ontario, Canada.
Keith Minty, President of Rover Metals, states “We just tested our initial thesis on the shear zones and Iron Formation intersections within the Cabin Lake property and the correlations exceed our expectations in defining a new gold anomaly in a previously untested area. We are continuing to analyse the data from Fall 2018 Exploration Program. In the future, we plan to use the same geochemistry testing protocols on the remaining areas of the Cabin Lake Group Project (i.e. inclusive of the Camp Lake and Slemon Lake claims) to identify and further expand the known gold anomalies.”
About the Geochemistry Survey
The program consisted of 485 samples covering an area of approximately 1,150 meters x 600 meters (69 hectares) following lines north-south oriented and spaced 50 meters between each other. Sample stations were placed every 25 meters within the lines. Samples were taken using auger tools below the topsoil wherever possible. Even though the region is known to be locally covered with glacial till, the surveyed area was selected by its outcrop exposures on known mineralized zones for comparison and reference over other possible zones within the property boundaries.
The Geochemistry Survey also reveal coincident anomalies of pathfinder elements to this style of gold mineralization such as Arsenic, Sulphur (%) and Copper on top of the magnetic anomalies following the Bugow Iron formation.
Aurora Geosciences Ltd. from Yellowknife, NT, Canada, was commissioned to perform the geophysical and geochemical work. Soil samples were collected under the direct supervision of Raul Sanabria, P.Geo,, VP of Exploration at Rover Metals and Company project QP, following a tight chain of custody from the collection site to ALS preparation facility in Yellowknife, NT. Assays were performed at ALS Laboratories in Vancouver, British Columbia. Certified blank and standard samples were inserted at regular batch intervals for accuracy and verification.
Technical information in this news release has been approved by Raul Sanabria, M.Sc., P.Geo., VP of Exploration at Rover Metals Corp. and a Qualified Person for the purposes of National Instrument 43-101.
About Rover Metals
Rover Metals is a natural resource exploration company specialized in Canadian precious metal resources that is currently focused on the Northwest Territories of Canada, one of the most mining friendly jurisdictions in North America.

ON BEHALF OF THE BOARD OF DIRECTORS 
“Judson Culter” 
Chief Executive Officer and Director
For further information, please contact:
Judson Culter
Email: judson@rovermetals.com
Phone: (604) 449-5347
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 will 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.
Categories
Exclusive Interviews Precious Metals

RICK RULE | Tremendous Discoveries In “One of the Last Great Exploration Frontiers”

By Tekoa Da Silva
I had the chance to sit down once again with Rick Rule, Chairman of Sprott U.S. Holdings. It was a fascinating discussion, as Rule discussed resource speculation in Africa and his experience participating in world-class deposit discoveries made over the last few decades.

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“As a place to [discover] world-class deposits, I would suggest to you that Africa and Central Asia are the last great frontiers [for resource exploration]” explained Rule. “Political and social challenges have kept them from being as thoroughly explored as Western nations.”
“The part of resource speculation that interests me is exploration,” Rule continued. “And the subset of explorers that interests me most are the prospect generators — people who use their investment and commercial acumen (frankly their courage), to explore virgin or semi-virgin terrain, and then bring in joint venture partners to drill. Unfortunately, there aren’t very many prospect generators in Africa, so the universe that I have to explore is fairly small.”
Rule further explained that combining high-quality exploration efforts with well-endowed and underexplored geological terrains, makes truly historic discoveries possible.
“I’ve been fortunate in my life to participate in a few [world class African resource discoveries],” said Rule. “The Africa Oil Corp. discovery of a billion barrels of oil in Northern Kenya, [was] previously an [unexplored] place. Paladin [Energy]’s uranium discoveries in Namibia and Malawi — which ran the stock from 10 cents to 10 dollars — [is] a very fond memory as you might imagine. [Other examples include,] Tenke Mining’s tremendous [copper] success in the Congo [and] Moto Gold’s 10 million oz. gold success at Kibali.”
“[So] my outlook for Africa is very bright, but that isn’t to suggest there aren’t great challenges,” he warned.
One of the perceived challenges of investing in Africa is political risk. Rule indicated that political risk represents “Actions taken by government [that] deprive me of legitimately generated wealth. [But] by that standard, of course, the jurisdiction that I live in, California, is probably one of the riskiest jurisdictions in the world. It’s just that we look at risk differently … risks that look like us, risks that we understand, risks that we participate in creating are regarded as somehow less venal. People will hate to hear this, but I love to say it — money stolen by white people, [speaking] English, according to the rule of law, is just as gone as money that’s stolen more efficiently by traditional methods.”
While Western resource markets may present greater political risk, “Western institutional investors (primarily generalists) have [ironically] painted Africa as a do-not-go[-to] place,” Rule added.
“[But] I think the opportunities are larger than the risks, if you are willing to take those risks,” Rule concluded. “[And] what appeals to me are the exploration companies … the companies that can take exploration concepts (and social risk) … and discover very large deposits.”
To watch the full video interview with Rick Rule, Chairman of Sprott U.S. Holdings, click here.
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This report contains forward-looking statements which reflect the current expectations of management regarding future growth, results of operations, performance and business prospects and opportunities. Wherever possible, words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, and similar expressions have been used to identify these forward-looking statements. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements could vary materially from those expressed or implied by the forward-looking statements contained in this document. These factors should be considered carefully and undue reliance should not be placed on these forward-looking statements. Although the forward-looking statements contained in this document are based upon what management currently believes to be reasonable assumptions, there is no assurance that actual results, performance or achievements will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this presentation and Sprott does not assume any obligation to update or revise.
Views expressed regarding a particular company, security, industry or market sector should not be considered an indication of trading intent of any fund or account managed by Sprott. Any reference to a particular company is for illustrative purposes only and should not to be considered as investment advice or a recommendation to buy or sell nor should it be considered as an indication of how the portfolio of any fund or account managed by Sprott will be invested.
Past performance does not guarantee future results. The views and opinions expressed herein are those of the author’s as of the date of this commentary, and are subject to change without notice. This information is for information purposes only and is not intended to be an offer or solicitation for the sale of any financial product or service or a recommendation or determination by Sprott Global Resource Investments Ltd. that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the objectives of the investor, financial situation, investment horizon, and their particular needs. This information is not intended to provide financial, tax, legal, accounting or other professional advice since such advice always requires consideration of individual circumstances. The products discussed herein are not insured by the FDIC or any other governmental agency, are subject to risks, including a possible loss of the principal amount invested.
Generally, natural resources investments are more volatile on a daily basis and have higher headline risk than other sectors as they tend to be more sensitive to economic data, political and regulatory events as well as underlying commodity prices. Natural resource investments are influenced by the price of underlying commodities like oil, gas, metals, coal, etc.; several of which trade on various exchanges and have price fluctuations based on short-term dynamics partly driven by demand/supply and also by investment flows. Natural resource investments tend to react more sensitively to global events and economic data than other sectors, whether it is a natural disaster like an earthquake, political upheaval in the Middle East or release of employment data in the U.S. Low priced securities can be very risky and may result in the loss of part or all of your investment.  Because of significant volatility,  large dealer spreads and very limited market liquidity, typically you will  not be able to sell a low priced security immediately back to the dealer at the same price it sold the stock to you. In some cases, the stock may fall quickly in value. Investing in foreign markets may entail greater risks than those normally associated with domestic markets, such as political, currency, economic and market risks. You should carefully consider whether trading in low priced and international securities is suitable for you in light of your circumstances and financial resources. Past performance is no guarantee of future returns. Sprott Global, entities that it controls, family, friends, employees, associates, and others may hold positions in the securities it recommends to clients, and may sell the same at any time.
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Categories
Base Metals Precious Metals Project Generators

Discover “The 7-Figure Retirement Plan”

Join Me at The Oxford Club’s 21st Annual Investment U Conference
Get Your Strategy for Building a
Seven-Figure Retirement Plan & Much More!


Dear Reader,
It’s hard to believe that this sell-out conference has been running for 21 years… but the truth is, this popular gathering of ‘beautiful minds’ is simply the best of the best.
Year after year, the experts who speak at this event deliver huge, moneymaking opportunities to hundreds of satisfied conference attendees…
And I’m confident that Investment U 2019 won’t be any different… in fact, it just might be the best one yet!
Here’s why…
For this upcoming conference at the stunning, newly renovated Vinoy Renaissance Resort, The Oxford Club has asked more than two dozen successful investment and retirement experts…
What’s your #1 strategy for building a seven-figure retirement nest-egg?
They’ll reveal their answers – and their top strategies – for the first time at The Oxford Club’s 21st Annual Investment U Conference, March 28-31, 2019.
Whether you’ve joined us before… or this will be your first time, I guarantee that you’re in for an unforgettable experience.
But don’t just take my word for it… look at these comments from past attendees…

“The entire conference was wonderful. Every speaker was informative, knowledgeable in his field and yes, even entertaining at times. Very worthwhile.” – Mary B.
“My favorite part of Investment U is the dynamic exposure to the caliber of speakers that come here. I’m really impressed with the integrity and honesty of these people. The amount of knowledge that passes through here on a day-to-day basis is overwhelming.” – David E.
“My first Investment U and I’m impressed. Have spent years attending and participating in educational seminars. You all do an excellent job.” – Earl F.

Read on. I’m not exaggerating when I say “the best of the best”…You’ll have a chance to rub shoulders with The Oxford Club’s all-star team of analysts…
Alexander Green is the Chief Investment Strategist of The Oxford Club and Liberty Through Wealth. He heads The Momentum Alert, The Insider Alert and The True Value Alert. The independent Hulbert Financial Digestconsistently ranked his Oxford Communiqué as one of the top-performing investment letters in the nation for 15 years.
Alex is also the author of four national best-sellers: The Gone Fishin’ PortfolioThe Secret of Shelter IslandBeyond Wealth and An Embarrassment of Riches.
Marc Lichtenfeld is the Chief Income Strategist of The Oxford Club and its resident biotech expert. He is the Senior Editor of The Oxford Income Letter, which is based on his proprietary 10-11-12 System. He is also the Editor of Tactical Trader Alert, Lightning Trend Trader and Chairman’s Circle Breakout Alert. Over the years, Marc’s commentary has appeared in The Wall Street Journal, Barron’s, and U.S. News & World Report, among others. Today, Marc is a sought-after media guest who has appeared on CNBC, Fox Business and Bloomberg.
Marc’s book Get Rich with Dividends: A Proven System for Double-Digit Returns achieved best-seller status shortly after its release in 2012. And his new book, You Don’t Have to Drive an Uber in Retirement: How to Maintain Your Lifestyle without Getting a Job or Cutting Corners, was recently released and was instantly a #1 best seller on Amazon.
Matthew Carr is the Emerging Trends Strategist of The Oxford Club. He is also the Editor of Oxford Resource ExplorerPrime System Trader and The VIPER Alert, as well as a Contributing Editor to Energy & Resources Digest.
Matthew’s unique take on investing – focusing on predictable “Prime Periods” for companies in various industries, including energy, tech and consumer staples – has led to countless outsized gains. (These include the largest return in Club history, a whopping 2,733%on Columbia Sportswear.) Matthew cut his teeth in the industry as a writer for the energy trade publications Natural Gas WeekGas Market Reconnaissance and Oil Daily. He also dug into exports and international trade finance for Business Credit magazine.
David Fessler is the Energy and Infrastructure Strategist of The Oxford Club. He is the Editor of Fessler’s Flash Profits and a Contributing Editor to Strategic Trends Investor and Energy & Resources Digest. As a degreed electrical engineer, Dave was vice president of two successful tech businesses – LTX Corporation and Quality Telecommunications Inc. Since “retiring” at age 47, Dave has used his educational and professional experience to research the best opportunities in the technology, infrastructure and energy sectors.
A true energy innovator, Dave has installed his own microgrid to power his 68-acre farm in Pennsylvania and can be seen on the road in an all-electric vehicle. His in-depth research and expert presentations on renewable energy have incited strong praise from fellow industry leaders.
Steve McDonald is the Editor of Oxford Bond Advantage and a Contributing Editor to The Oxford Income Letter and Wealthy Retirement. He is also the Host of our Market Wake-Up Call videos. Steve is a regular speaker at many Club and Investment U conferences and seminars. He’s worked as a professional broker and has been an active trader of bonds for more than two decades, specializing in ultra-short maturity corporate bonds. Before entering the investment industry, Steve was a naval aviator, flying fixed and rotary-winged aircrafts, and also served as a surface warfare officer.
Karim Rahemtulla is the Options Strategist for The Oxford Club and the Editor of Automatic Trading Millionaire. He is a multilingual best-selling author and recognized derivatives expert with 25 years of investment industry experience. Through his Automatic Trading Millionaire service, he shows Members how to safely and reliably generate thousands in extra income each month by buying and selling exchange-traded options.
Karim is also a contributor to Wealthy Retirement, the Club’s free e-letter providing retirement-focused investors with solutions for growing and preserving their wealth. Plus, he is author of the best-selling book Where in the World Should I Invest: An Insider’s Guide to Making Money Around the Globe, which teaches practical strategies for investing in more than 20 countries and capital markets across the world.
Nicholas Vardy is the ETF Strategist for The Oxford Club. Based in Europe, Nicholas is a widely recognized expert on exchange-traded funds and an accomplished investment expert. Nicholas has been a regular commentator on CNN International and Fox Business Network. He has also been cited in The Wall Street Journal, Newsweek, Fox Business News, CBS MarketWatch, Yahoo Finance and MSN Money Central.
In January 2018, Nicholas became The Oxford Club’s first and only ETF strategist, writing for the daily Liberty Through Wealth e-letter and The Oxford Communiqué.


Of course, guests at the 21st Annual Investment U Conference will also have the chance to hear from several other highly respected investment experts and market analysts…Including Rick Rule, President and CEO of Sprott U.S. Holdings Inc., Adam Sharp, Co-Founder, Early Investing LLC & Crypto Asset Strategies… plus many others.
And when we gather together in beautiful St. Petersburg, Florida… you’ll hear all of these experts share their best ideas for building ‘A Seven-Figure Retirement Plan’… and so much more.
Plus… you’ll have the opportunity to socialize and mingle with these top-notch speakers and analysts… enjoy the company of like-minded investors… and indulge yourself in the charms and amenities of the historic Vinoy Resort & Golf Club.
But first and foremost, this event is designed to help you make money…
Over the course of three jam-packed days, The Oxford Club’s team of investment experts and economists will reveal the best ways that could very well put you on the path to a seven-figure nest-egg!
And on top of everything else… this delightful destination has all the essentials for an amazing vacation… stunning beaches, picture-perfect golf course, five-star shopping, dining, waterfront views, theaters, museums, art galleries… and the list goes on.
Register and get the details here.
Claim your seat today and you’ll get more than you ever imagined… including my Early Bird Discount.
But only if you act now… this offer won’t last long.
Our staff at Opportunity Travel is here to help you any way we can – with your registration, travel arrangements or special requests. Simply give us a call at 800 926 6575 or +561 243 6276, OR email us at info@opportunity-travel.com
I look forward to greeting you personally at the Vinoy Renaissance in St. Petersburg, Florida.
Cordially,

Barbara Perriello, Director
Opportunity Travel


Where We’re Headed Next …

SOLD OUT! But you can still put your name on the waiting list.
Call 800.926.6575 or 561.243.6276, drop us an email at info@opportunity-travel.com.
Opportunity Travel’s VIP Tour to Israel
Featuring Marc Lichtenfeld

November 5-14, 2018
Tel Aviv – Jerusalem – The Dead Sea – Masada – Haifa – Golan Heights
With Optional Extension to Jordan – November 14-18, 2018
Come with us in November for a fantastic and unforgettable 10-day VIP program to Israel – and optional excursion to Jordan if you choose.
From Tel Aviv to Golan Heights, you’ll experience the contrasts of ancient and modern Israel – and discover firsthand why visitors call this country “magical”…
You’ll learn about Israel’s entrepreneurial culture and why it’s such a dynamic place to invest…
We’ll introduce you to amazingly smart business people who are passionate about their companies… and you’ll have plenty of opportunities to hear about exciting ideas for potential profits.
We’ll dine at incredible restaurants… stay at beautiful hotels… and with Opportunity Travel’s special brand of service, you can be assured that you’ll be pampered all along the way.
Join Marc Lichtenfeld, The Oxford Club’s Chief Income Strategist… and me, Barbara Perriello… on this exclusive VIP Tour to Israel, November 5-14, 2018.
Get all of the details here…
Or simply contact Opportunity Travel by phone at 1-800-926-6575 or +561-243-6276, or by email at info@opportunity-travel.com.


International Living’s Retire Overseas Bootcamp
November 8-10, 2018 – Santa Fe, New Mexico

Retire Sooner. Spend Less. Live Better. You can do it in all sorts of beautiful, welcoming, good-weather communities that dot the globe from Latin America to Southeast Asia to Europe.
Laid-back beach escapes. Quiet mountain getaways. University towns. Even cosmopolitan cities.
In the right communities, you really can live a richer, more engaging life than you do today…but spend as little as $1,625 a month to do it (housing included). In other words: Get the destination right, and you could live well on your Social Security income alone.
Click here for all the details…


The Oxford Club’s 21st Annual Investment U Conference
March 28-31, 2019 – The Vinoy Renaissance Resort

Every spring, The Oxford Club hosts its biggest event of the year –the Annual Investment U Conference. For this signature event, we spare no expense to bring you the latest and greatest from the investing world as well as a real no-nonsense look into the markets.
Throughout this event, you’ll discover dozens of profitable ideas from our team of expert analysts, as well as investment insights from more than two dozen of the industry’s top economists and investment minds.
Join us as we celebrate more than two decades of success and tremendous profit opportunities brought to life through this premier event. Year-after-year – we’ve seen the ideas shared here soar to great heights and we are thrilled to see what’s in store next.
For more information on this event, and to reserve your spot today, click hereIf you have any questions about the event, please email us at voyagerclub@oxfordclub.com or call us at +443.708.9411.


Sprott Natural Resource Symposium 2019
Fairmont Hotel Vancouver – July 30-August 2, 2019

Plan your 2019 vacation now – we’ll be happy to help you!
Get the lowest price possible for this popular, long-running conference that just keeps getting better year after year!
Join our chairman and personal host, Rick Rule in the heart of downtown Vancouver for this sell-out event. It’s not too soon to claim your Early Bird Discount!
Click here for details.
You really can’t beat this offer!


Opportunity Travel’s South America Expedition 
Uruguay & Argentina – November 2019
Call now to get your name on the list!

One of our most popular tours! Come November 2019 and once again we’ll be heading south to Uruguay and Argentina where we’ll show you so much more than the wonders these countries are known for. We’d love to have you join us!
Tantalizing wines, fabulous farm to table dining and sensuous tango are just a small snippet of what we have in store. Add to that our unique brand of personal service, luxury hotels and “boots on the ground” experts. Find out for yourself why our past attendees return again and again.
Call now to get your name on the list – 1-800-926-6575 or +561-243-6276OR send us an email at info@opportunity-travel.com


For more information about our tours or conferences, please contact, Barbara Perriello or Michelle Sedita at Opportunity Travel by email at info@opportunity-travel.com or by phone at +561.243.6276 or toll-free at +800.926.6575.

Disclaimer: Nothing in this e-mail should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investment advice. In the interest of full disclosure: Opportunity Travel may receive commissions from any property sales made during any of its trips. And, as a travel agency, we often receive a commission from hotels when we book rooms for our tours and conferences.
Copyright © 2018 Opportunity Travel, All rights reserved.
Our mailing address is:

Opportunity Travel

235 NE 4th Ave

Delray BeachFL 33483

Categories
Precious Metals

JUNIOR MINING | Novo Announces Bulk Sample Results from Comet Well

NOVO ANNOUNCES BULK SAMPLE RESULTS FROM COMET WELL
VANCOUVER, BC, October 26, 2018 – Novo Resources Corp. (“Novo” or the “Company”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce bulk sample results from its Comet Well joint venture (80% Novo; 20% Smith/Gardner Mining), part of Novo’s greater Karratha gold project, Western Australia.
First round bulk sample results confirm the potential of the basal conglomerates at Karratha and support Novo’s view of significant prospectivity across its Comet Well/Purdy’s Reward tenements and, more broadly, the prospectivity of Novo’s 12,000 square kilometerland-holdings across the Pilbara.
Highlights:

  • Bulk samples reported in this news release come from two gold-bearing conglomerate units at Comet Well, the Upper Cannonball Conglomerate (“UCC”) and Lower Cannonball Conglomerate (“LCC”) as well as surrounding rock strata. Figure 1 displays a location map of bulk sample sites. Figure 2 illustrates the position of each bulk sample with respect to stratigraphy. Table 1 (nearby) lists bulk sample data including weight, thickness, gold grade, and fractions of gold occurring in each processing stream.
  • Bulk samples were collected from 2 x 2 meter pits scattered along 1.2 km strike from Cannonball Gully in the southwest to the Purdy’s Reward tenement boundary in the northeast (Purdy’s Reward is a joint venture on conglomerate/paleoplacer gold; 50% Novo and 50% Artemis Resources Ltd.). Thicknesses of samples range from approximately 0.35 to 1.20 meters.
  • The bounds of gold-bearing conglomerates are not readily identifiable by eye, therefore bulk sampling encompassed sections of conglomerate above and below each respective gold-bearing unit in order to better constrain their limits.
  • Processing of each sample encompasses coarse crushing and screening then passing material through a metal detector to collect any nuggets. Once detected, the sample is finely crushed, screened and further processed through a gravity concentrator. Concentrates and tails are analyzed, with the final grade based upon the gold recovered from each of the three sample streams (see Figure 3 below).
  • At Cannonball Gully, Novo has identified what it believes are significant basin-bounding faults that may have been active during sedimentation and controlled LCC deposition. Diamond drilling indicates the LCC continues into the basin and may open up and become more laterally extensive, particularly to the east. Therefore, Novo believes that exposures of LCC at Cannonball Gully form a small outcropping apex of this important unit. Bulk samples from the mineralized core of the LCC include KX157 (7.14 tonnes) grading 10.40 grams per tonne gold and KX158 (6.85 tonnes) grading 1.51 grams per tonne gold (samples previously reported in the Company’s news release dated May 31, 2018). Collectively, these two samples represent a 1.4 m high vertical profile through the LCC with a weighted average grade of 6.06 grams per tonne gold. Nearby samples KX160 (7.17 tonnes) grading 1.99 grams per tonne gold and KX161 (13.5 tonnes) grading 2.62 grams per tonne gold collectively represent a 1.8 m high vertical profilethrough the LCC with a weighted average grade of 2.40 grams per tonne gold. Gold nuggets recovered from bulk samples of LCC are typically flat, up to 10 mm across, weigh a gram or less and occur within sandy matrix between boulders. Boulder clasts in the LCC range in size up to 1.5 meter diameter and are tightly packed.
  • Bulk samples from the mineralized core of the UCC include KX223 (3.78 tonnes) grading 4.53 grams per tonne gold, KX227 (3.40 tonnes) grading 3.06 grams per tonne gold, KX198 (6.44 tonnes) grading 2.26 grams per tonne gold, KX224 (4.11 tonnes) grading 1.29 grams per tonne gold and KX171 (4.96 tonnes) grading 1.22 grams per tonne gold. Gold nuggets recovered from bulk samples of UCC are similar in shape to those of the LCC but are typically larger, up to 18 mm across and weighing up to approximately 6 grams. Such size nuggets are typical of mineralized conglomerate at nearby Purdy’s Reward, therefore Novo believes the UCC at Comet Well may be geologically related to the Purdy’s Reward conglomerate. Novo has currently explored a combined length of 3.6 kilometers of UCC and Purdy’s Reward conglomerate. This zone remains open at both ends and into the basin. Novo collected circa 300 kilogram bulk samples from trenches at Purdy’s Reward late last year. Results from these samples were discussed in Novo’s news release dated February 14, 2018 and are restated in Figure 2 of this news release.
  • Variability of grade in conglomerate bulk samples is largely a function of the number of nuggets in each sample. Novo also believes the proportion of boulders to matrix in each respective sample significantly impacts variability. Given the nuggety nature of gold mineralization at Karratha, such variability is expected.
  • At Karratha, gold almost universally occurs as nuggets with a thin, 2-5 mm, halo of fine-grained gold in the matrix of conglomerates (see Figure 4 below). In spite of this, the proportion of gold occurring as nuggets varies widely from bulk sample to bulk sample. Novo believesthis may reflect breakdown of nuggets to finer gold particles during processing of some samples. Novo does not see evidence of a significant component of fine-grained, disseminated gold in Comet Well conglomerates.
The multi-tonne bulk samples presented in this news release serve to provide an indicative grade of the two gold-bearing conglomerates at Comet Well. Novo takes the view that bulk sampling on the scale of 10,000’s tonnes is required to more fully ascertain the grade, distribution, and continuity of these units and to determine the commercial viability of whether a potential mining operation could proceed. Such process is well-known in the diamond industry where trial excavation of very large samples is required to evaluate economics of deposits prior to mining.

Novo plans to use this bulk sample data along with geologic data collected from recently completed diamond drill cores as a basis for a mineralization report, a critical component needed to convert an exploration license to a mining lease.
Bulk Sample Processing   
Novo staff collected bulk samples discussed in this news release. Bulk samples were submitted to SGS Minerals in Perth, Australia where they were treated in a test plant detailed in Novo’s news release dated February 6 and May 31, 2018. Because gold mineralization at Comet Well is extremely coarse, the entire sample is coarsely crushed and screened and passed through a metal detector to collect any nuggets. Once detected, the sample is finely crushed, screened and further processed through a gravity concentrator. Concentrates and tails are analyzed, with the final grade based upon the gold recovered from each of the three sample streams (see Figure 3 below). Samples are scrutineered by independent consultants from RSC Mining and Mineral Exploration, Perth, whilst each sample is collected and received into the laboratory, maintaining complete integrity over the chain of custody. All assay certificates and head grade calculations were provided by SGS as secured documents, with the calculations and head grades checked by Novo internal resources and verified by Dr. Simon Dominy. There were no limitations to the verification process and all relevant data was verified.
Dr. Quinton Hennigh, P. GEO., the Company’s, President and Chairman and a qualified person as defined by National Instrument 43-101, has approved the geological and content of this news release. Dr. Simon Dominy, FAusIMM (CP), a consultant geometallurgist to the Company, a qualified person as defined by National Instrument 43-101, has approved the processing and sample grade content of this news release.
About Novo Resources Corp.
Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 12,000 sq km with varying ownership interests. 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. 
“Quinton Hennigh”
Quinton Hennigh
President and Chairman
Neither 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 news release. 
Forward-looking information 
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, the statement that Novo plans to use the bulk sample data described in this news release, along with geologic data collected from recently completed diamond drill cores, as a basis for a mineralization report, a critical component needed to convert an exploration license to a mining lease. 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. There can be no assurance given that the exploration license will be converted to a mining lease.

 

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Categories
Precious Metals

JUNIOR MINING | New Discovery Hole – 95.7 metres of 1.47 g/t gold equivalent at the Santana Project, Sonora, Mexico

TORONTO and VANCOUVER , Oct. 25, 2018 /CNW/ – Minera Alamos Inc. (the “Company” or “Minera Alamos”) (TSX VENTURE:MAI) is pleased to report the discovery of a new broad zone of gold/silver mineralization in its Phase 1 drill program at the Santana gold project, Sonora, Mexico . The discovery drill hole into the new Divisadero zone, was drilled approximately 200m north of the known mineralization limits at the Nicho Main and Nicho Norte zones and returned a wide intercept of disseminated gold, silver and copper mineralization in a previously underexplored part of the Santana Property. The hole is the first drilled deep enough to intersect this new style of polymetallic mineralization that is associated with an andesite porphyry unit related to disseminated pyrite and intrusive breccias.  Based on surface exposures and known geology the mineralized system appears to be open to expansion in all directions.

Drilling Highlights:

  • Hole S18-121 – 95.7 m of 0.85 g/t Au, 9.8 g/t Ag and 0.33% Cu – (1.47 g/t AuEQ)
    from 32 m
    Including 70.0 m of 1.1 g/t Au, 11.8 g/t Ag and 0.56% Cu – (1.88 g/t AuEQ) beginning at 55 m down hole.

“This new discovery hole is an extremely exciting development for the Company” stated Darren Koningen , CEO of Minera Alamos . “One of the driving factors behind the merger between Minera Alamos and Corex earlier this year was the significant untapped potential we believed we could unlock once the two Companies’ contiguous land packages were combined.  As our knowledge base grows and we continue to better understand the regional geology we should continue to find additional mineralization. The discovery of the Divisadero area provides further evidence that the mineralizing events that occurred in the Nicho area are present at shallow depths elsewhere on our extensive property holdings.”

Hole S18-121 (70-degree inclination) was the Company’s first effort to assess the potential extensions of known mineralization on Corex’s Santana claim group on to the Minera Alamos Los Verdes claim group directly to the north.  Rather than exhibiting Nicho style mineralization, S18-121 returned a considerable interval of more porphyry style mineralization with broad, rather evenly distributed gold, silver and copper disseminated throughout much of the hole starting from 32 metres down the hole (see Table 1).

The Company is currently evaluating the significance of this new discovery and its relationship with the mineralized breccia systems that form the predominantly gold rich mineralization at Nicho Norte and Nicho to the southwest. Preliminary surface mapping immediately adjacent to the intercept shows that the mineralized porphyritic unit extends in all directions and appears to be distinct from the Nicho Main and Norte zones to the south.  Additional holes are planned to further test the discovery as part of Phase 2 drilling at Santana.

The Phase 1 drilling program has now concluded with the completion of ten holes totalling approximately 1500 m .  The remaining holes yet to be reported include further testing of the southwest extensions of the Nicho deposit (see Figure 1). Planning of the Phase 2 drill program will begin once the remaining drilling results have been received and evaluated.

Table 1 – Mineralized intervals from 2018 Santana Project drill program

Mineralized Interval 1,2

Drill Hole

From

(m)

To
(m)

Width
(m)

Gold

(g/t)

Silver

(g/t)

Copper

(%)

Gold Eq 3

(g/t)

Area

S18-121

32.0

127.7

95.7

0.85

9.8

0.33

1.47

Divisadero

incl

55.0

125.0

70.0

1.10

11.8

0.56

1.88

Notes:

1.

Grades/widths of mineralized intervals represent complete “from” “to” drill depths as shown.

2.

The hole was drilled at a 70-degree inclination.  The true width of the mineralized zone in this new area is currently unknown.

3.

Gold Equivalent calculated using the following metal prices – $1250/oz gold, $16/oz silver and $2.85/lb copper.

Assay results are pending from the remaining three holes; the results, as well as additional geological interpretations, will be released as they are received over the coming weeks. All diamond drill samples were collected by Minera Alamos personnel including the Company’s exploration geologists.  Drill core samples were cut in half and divided into 1- 2 m intervals.  One half of the sample was bagged for analysis and the remaining half was logged by Minera Alamos personnel and stored for future reference.  Blanks, duplicates, and standards were randomly inserted with the samples sent for analysis as part of the normal QA/QC procedures.

All samples were prepared and analyzed for gold using fire assaying with AA/gravimetric finish.  All samples were sent for sample preparation at the ALS-Chemex facility in Hermosillo, Mexico .

Figure 1 – Drill Hole Location Plan (CNW Group/Minera Alamos Inc.)

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Figure 1 – Drill Hole Location Plan (CNW Group/Minera Alamos Inc.)

Guadalupe de los Reyes Option Payment Extension

Minera Alamos and Vista Gold Corp. (“Vista”) have agreed to extend the due date for the second US$1.5 million option payment for the Guadalupe de los Reyes gold / silver project in Sinaloa, Mexico (“the GdR Project”) by six months to April 23, 2019.  The extension will better align development plans for the GdR project with those previously announced for the Company’s Santana and Fortuna projects.  Minera Alamos continues to advance engineering efforts for the GdR project and community discussions related to the development of a commercial gold mining operation at the site.

As consideration for the deferral, Vista will receive an additional US$150,000 in cash, US$50,000 of which has already been paid and US$100,000 of which will be paid no later than January 23, 2019 . In addition, Vista will receive interest at a rate of 1.5% per month on the deferred amount beginning January 24, 2019 .

Mr. Darren Koningen , P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and has approved the scientific and technical disclosures in this news release.

About Minera Alamos

Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress.  The Company is awaiting the pending approval of permit applications related to the commercial production of gold at both the Santana and Fortuna projects.

The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.

Caution Regarding Forward-Looking Statements

This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans with respect to the Projects, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing for release of a resource and reserve estimate on the Projects. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, the economics of processing methods, project development, reclamation and capital costs of Minera Alamos’ mineral properties, the ability to complete a preliminary economic assessment which supports the technical and economic viability of mineral production could differ materially from those currently anticipated in such statements for many reasons. Minera Alamos’ financial condition and prospects could differ materially from those currently anticipated in such statements for many reasons such as: an inability to finance and/or complete an updated resource and reserve estimate and a preliminary economic assessment which supports the technical and economic viability of mineral production; changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with Minera Alamos’ activities; and other matters discussed in this news release and in filings made with securities regulators. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.

NEITHER 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.

Minera Alamos Inc. (CNW Group/Minera Alamos Inc.)

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Minera Alamos Inc. (CNW Group/Minera Alamos Inc.)

SOURCE Minera Alamos Inc.

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