|
Proven ProbableCategory: Precious Metals
VANCOUVER, British Columbia, Nov. 15, 2018 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (OTCQB: RVSDF) (R99.F), is pleased to receive new exploration results at its 100%-owned Cecilia Gold Project (the “Project”) in northeastern Sonora, Mexico. Recent rock sampling and mapping was conducted on the Cecilia 1 claim following-up on anomalous areas identified during the reconnaissance soil sampling survey which was conducted over the larger tenure acquired earlier this year. Initially, the exploration work focused on the Cerro Magallanes rhyolite dome complex where historical drilling, mining and other work delineated high-grade gold mineralization. The most recent work by Riverside has been at the Cecilia 1 claim which covers a large area (~50km2) of favorable geology that is bisected by several large regional structures that have been found to host gold mineralization.
Over the past several months Riverside has completed a reconnaissance soil sample survey over the northeastern portion of the claim and followed this up with a sampling and mapping survey that included a Terraspec assisted alteration survey, Innovex geochemical testing, and assaying of selected areas. The soil sampling survey documented several, large linear anomalies that have now been field checked with initial sampling and mapping work. The most recent work has focused on four (4) new areas in addition to the main Cerro Magallanes target area therefore expanding the overall value of the Cecilia Project.
Riverside’s President and CEO, John-Mark Staude, stated: “Riverside has continued working on the Cecilia Project following-up on its initial soil and channel sampling programs further refining the targets on the concession. The recent program has defined several epithermal targets that show significant strike length and need to be drilled. The Cecilia 1 concession expands Riverside’s exploration footprint over a much larger area (58 km2). The fieldwork to date demonstrates the robust nature of the Cecilia Project showing large mineralized structures over significant strike lengths.”
Casa de Piedra target:
The Casa de Piedra target is east of Cerro Magallanes on the recently added Riverside concession, Cecilia 1. The target zone comprises a 2 km long shear fault vein with abundant epithermal mineralization and textures. Casa de Piedra has not seen any exploration making it a high-profile drill target. This target was first identified through soil geochemistry in June 2018 where anomalous Pb, Cu, Te and Hg were noted. In the field the Casa de Piedra target is defined by a 30 m wide N-NE trending structural corridor of altered Cretaceous clastic sedimentary bedrock. Within the main mineralized structure, widespread sericitic, silica and kaolinitic alteration is common including buddingtonite alteration; buddingtonite being a clay often found in proximity to precious metal veins. The structural zone is infilled with quartz veining, quartz veinlets and stockwork and in some areas banded quartz, vuggy quartz and grey calcite. Textures in outcrop are dominated by intact-banded veins and silicified zones and only minor vein breccias. Transport of the clasts appears to be rotated but with minor displacement; anastomosing breccia veins are common in outcrop. Later carbonates are noted, and some carbonate appears to be leached from the matrix surrounding the quartz, leaving a stringy, net texture with residue of the Mn-oxides and crustiform quartz. This mineralized structure is cross-cut by northwest-trending rhyolitic dikes that do not appear to influence mineralization. Rock sampling (24) in this area returned one sample that assayed 0.9 g/t Au and also included other elements typical of the upper parts of hydrothermal veins. This shear vein is not unique, a second large vein system, Los Llanos described below.
Los Llanos target:
The Los Llanos target is located east of the Casa de Piedra vein shear structure east of the Cerro Magallanes peak. The Los Llanos target was first defined by reconnaissance and soil geochemistry where anomalous Pb, Cu and Zn were noted. In the field the Los Llanos target is defined by a 20-30 m wide structural corridor of altered sandstone presently mapped as being 1 km in strike length and trending northeast. Gold mineralization is found in narrow anastomosing veins sometimes as stockwork but primarily as a silicified zone marked by reddish-brown iron oxides. This corridor also hosts rhyolite dikes which are sometimes parallel to the mineralized zone but also cut the zone. To the best of our understanding no exploration work has been done in this area thus making it a newly discovered vein zone. Some evidence of placer mining was noted in the area suggesting gold may have come from this vein; further exploration work is warranted on the Llanos target.
Cruz Target:
The Cruz target lies within a large structural corridor northeast of Cerro Magallanes within horst and graben structural terrain. This large northwest trending regional structure extends tens of kilometers and comes across the northeast portion of the Project, is visible on satellite images, and forms a major structural topographic feature in northeastern Sonora. At the outcrop level, mineralization is noted in veins and stockwork alteration zones of up to 100 meters wide. These zones comprise anastomosing quartz veins with breccia that generally strike N-NE (020) and dip vertical to steeply to the west. Within this 100 m wide zone stockwork show syntaxial and druzzy textures. Gold mineralization is associated with pervasive, widespread sericitic and silica alteration; sulphides are rare but noted in this area. Where these veins cut conglomerate bedrock wide areas of silicified material is noted, two out of seven samples taken from this area returned gold grades of 1.6 g/t and 2.3 g/t Au. These veins continue through the conglomerate into the adjacent granitic bedrock. Geochemistry in this area shows high Pb, Zn and Cu indicating mineralization in the northern portion of the concession may be lower down in a epithermal system.
Cruz II Target:
The Cruz II Target is located in the eastern portion of the Cecilia 1 concession. This target is also a structural corridor of silicification and veining currently mapped at about 2 km in strike length. The structure/vein strikes N-NE (020-030) and cuts through several sedimentary geological units varying in width from several meters to 20 m. Mineralized areas include anastomosing, stockwork or parallel veins with breccias; breccia is sometimes rounded but often angular. Terraspec analysis of altered rock shows pervasive silica and sericite alteration with illite in some areas. In hand sample the alteration is dominated by silicification and Fe-oxides. Individual veinlets are up to 30 cm wide with 3 to 5 parallel veins within a larger 20 m corridor. Stockwork veining, where present, is typically orthogonal and made more obvious by the hematitzation of rare pyrite, sphalerite and galena. Two of eleven samples from Riversides first pass of this area returned gold values of 0.5 g/t Au. Rock geochemistry also shows elements typical of a low-sulphidation epithermal system.
Cerro Magallanes Targets:
The Cerro Magallanes targets encompasses the rhyolitic dome complex in the middle of the Project. Riverside has conducted channel sampling on four main areas. Channel sampling shows consistent gold from the top of Cerro Magallanes at the San Jose target northeast along the Agua Prieta-North Breccia target and then through the Central and East Target areas. Highlights from this previously reported work includes:
- San Jose Target – 47m @ 1.12 g/t from underground workings
- Agua Prieta – North Breccia – 10m @ 3.34 g/t from surface channel
- Central Target – 14m @ 2.44 g/t from underground workings
- East Target – 11.5m @ 1.57 g/t
These samples do not cover the entire target thicknesses and further excavations would be needed to extend continuity thus the widths are open and provide an indication of gold mineralization context. The new target areas on Cecilia 1 east and north of Cerro Magallanes provide the opportunity to discover bulk tonnage precious metal mineralization where vein systems of several kilometers in length have been defined.
The map below (see Figure 1) shows the named zones on the Cecilia Project that have been defined by Riversides recent fieldwork.
Figure 1: Shows geological mapping and gold values of the target areas and puts in context the new target areas locations in comparison to Cerro Magallanes.
Figure 2: Shows a cross section of the Casa de Piedra and Los Llanos shear targets with the vertical dimension being extended to show some of the details for the drill targets.
Qualified Person and QA/QC:
The scientific and technical data contained in this news release pertaining to the Cecilia Project was reviewed and/or prepared under the supervision of Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources Inc. who is responsible for ensuring that the geologic information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
Rock samples collected were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas’ laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples and blanks were randomly inserted into the sample stream prior to being sent to the laboratory.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has $2,000,000 in cash, fewer than 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
| John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com |
Raffi Elmajian Corporate Communications Riverside Resources Inc. relmajian@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Toronto, Ontario and Vancouver, British Columbia–(Newsfile Corp. – November 15, 2018) – Minera Alamos Inc. (TSXV: MAI) (the “Company” or “Minera Alamos”) is pleased to report that additional mapping and surface sampling of the new Divisadero porphyry discovery has successfully delineated a significant surface exposure of the target which remains open in all directions. To date, a combination of outcrop and limited outcrop/float samples have confirmed the expression of the known porphyry system for over 300 m before it disappears under soil cover (see figure 1).
This work was conducted following the recent success of Phase 1 drill hole S18-121 that intersected a broad zone of a porphyry hosting significant gold, silver and copper mineralization approximately 200 m north of the Nicho Norte breccia pipe. The hole was the first drilled into this new style of polymetallic mineralization that is associated with an andesite porphyry unit related to disseminated pyrite and intrusive breccias.
Divisadero Zone 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 (see press release 2018-10-25); - Sixty-six (66) rock samples assayed with over 50% exhibiting grades in excess of 0.10 g/t gold – assays ranging up to 2.2 g/t gold;
- Mineralized surface exposure surrounding drill hole S18-121 in excess of 200m x 300m;
- Mineralization appears to remain open to the north and south under thin soil cover;
- Extent of the gold mineralized systems surrounding the Company’s flagship Nicho (Main/Norte) deposits now extends along NW-SE trend for at least 1.2-1.3 km (see figure 2).
“Following the initial drill hole discovery of the new Divisadero porphyry system, our exploration team began the process of mapping and sampling the available surface exposure around this exciting new target. With over half the surface rock samples returning greater than 0.1 g/t gold, we have confirmed the potential of the new system and have successfully followed the known extents of the Divisadero mineralization for a distance of at least 300 m before it recedes under overburden. With this new information we look forward to further defining the target in our upcoming Phase 2 drill program. As a result of this year’s exploration, there are now five known areas of “Nicho-style” intrusion related gold mineralization identified at the Santana project site including the newly identified Zata and Divisadero zones. We are confident that as we expand our geological efforts more discoveries will be made.” stated Darren Koningen, CEO of Minera Alamos.
Figure 1 – Divisadero Porphyry Mapping and Sampling
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/f6e3c3edb640cb199c35ce994a8e78a8
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4183/41084_210e7b4074c1f922_002full.jpg
Figure 2 – Divisadero Porphyry Location
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/401182af1566fbf89bb4aa9134e8c67e
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4183/41084_210e7b4074c1f922_003full.jpg
As a result of extensive weathering of the porphyry system surface exposures; copper values though elevated are lower in the surface sampling than those exhibited throughout hole S18-121 which averaged over 0.3% copper over its entire 95m length.
Exploration Plans – Phase 2 Drilling
Evaluation of the new project discoveries is ongoing and will include additional drilling as part of the Company’s Phase 2 drill program that is planned to commence shortly and continue into Q1 of 2019. The work will further the understanding of the scale of the porphyry mineralization and its relationship to the mineralized breccia systems that form the predominantly gold-rich mineralization at Nicho Norte and Nicho Main to the southwest.
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.
All rock samples were collected by Minera Alamos personnel including the Company’s exploration geologists. Samples were bagged for analysis and sent for sample preparation at the ALS-Chemex facility in Hermosillo, Mexico. 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 in addition to a standard 35-element ICP suite.
For further information please contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Website: www.mineraalamos.com
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.
VANCOUVER , Nov. 15, 2018 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF, FSE: 2NKN) (the “Company” or “Pacton“) is pleased to announce that it has scheduled a helicopter and ground supported rock chip sampling and detailed geological mapping program on its 62 km2 Boodalyerrie tenement (E 45/3586). Boodalyerrie is located 85 km northeast of the town of Nullagine, and Novo Resources Corp’s (NVO.V) Beatons Creek project. (Figure 1).
View photos
Figure 1. Location of Pacton Pilbara holdings, showing Boodalyerrie tenement. (CNW Group/Pacton Gold Inc.)
Highlights of exploration undertaken at Boodalyerrie to date:
- Multiple quartz vein reefs extend over a total cumulative strike length of at least 23 km within an area of 25 km2, and range in thickness between 1 to 10 m
- Significant high-grade rock chip samples of up to 200g/t Au (Plenty River Corporation Ltd, 2000)
- Channel sampling results of up to 3 m at 88.6g/t Au (Plenty River Corporation Ltd, 2000)
- Multiple small scale historic high grade workings documented
- Potential exists for high-grade vein hosted gold mineralizing system associated with the Yilgalong Granite quartz veins. Target style has never been drill tested
Although half of the Boodalyerrie tenement is covered by sedimentary and volcanic rocks of the Fortescue Group, including surface exposures of the Mount Roe, Hardey and Kylena formations, the focus of the immediate exploration program will be to define the extents and controls of gold mineralization within steeply dipping quartz veins hosted in older Archean granitic basement rocks. This extensive swarm of gold-bearing, quartz veins have thicknesses ranging from 1 to 10 m and extend along strike lengths of up to 2.5 km throughout a 25 km2 area. Geological mapping indicates that the veins were emplaced into the Archean granitic basement rocks before the deposition of the overlying Fortescue Group. Accordingly, the mapped vein system is expected to extend under the thin cover of Fortescue formations. (Figures 2 & 3).
View photos
Figure 2. Simplified geology of the eastern part of the Pilbara craton, showing Pacton holdings, and the location of the Boodalyerrie tenement. (CNW Group/Pacton Gold Inc.)
View photos
Figure 3. Orthophoto of Boodalyerrie tenement showing granitic basement injected with a pervasive swarm of vertical quartz structures that contain identified gold occurrences. The east and south parts of the tenement are covered by Fortescue Group formations. See Inset in Figure 4 below. (CNW Group/Pacton Gold Inc.)
Exploration conducted in 2000, indicated the Boodalyerrie veins are prominent, protruding surface features that dip steeply in a north and north west criss-cross pattern and extend along strike for several kilometers. The 1 m to 10 m thick veins are composed of white and/or grey quartz, and carry minor sulphides, principally pyrite and galena. Surface and grab samples have been reported by Plenty River Corporation Ltd, in 2000, as grading up to 200 g/t gold, and with a channel sample returning 88.6 g.t gold over 3 m .
View photos
Figure 4. Vertically exaggerated view of the inset in Figure 3, showing the resistant nature of the larger quartz vein structures. (CNW Group/Pacton Gold Inc.)
Image analysis suggests that a secondary target type of interest consists of dense swarms of smaller quartz vein stockworks that extend throughout the tenement. (Figure 5).
View photos
Figure 5. Filtered snapshots of selected areas of Figure 3 (above) showing details of quartz structures, and alteration minerals dispersed on surface. (CNW Group/Pacton Gold Inc.)
Pacton has not independently verified the Boodalyerrie sampling results but considers them to be sufficiently reliable to justify more detailed exploration. Mr. Robert Jewson, BSc. , Mineral Exploration & Mining Geology, and Managing Director of Geonomics Australia will be supervising the implementation of the Boodalyerrie exploration program.
The November-December Boodalyerrie work program will consist of detailed geological mapping and rock chip sampling in order to define the controls and extents of mineralization. Unexplored parts of the vein swarm, together with areas of intense vein stockworks will be mapped and surface sampled. Additionally, a preliminary reconnaissance sampling program will be undertaken in the southwestern portion of the Boodalyerrie tenement, which is underlain by the Mount Roe and Hardey formations of the Fortescue Group.
About Pacton Gold
Pacton Gold is a well-financed Canadian junior with key strategic partners focused on the exploration and development of conglomerate-hosted gold properties located in the district-scale Pilbara gold rush in Western Australia.
The technical content of this news release has been reviewed and approved Peter Caldbick , P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101. The qualified person has not yet verified the data disclosed, including sampling, analytical, and test data underlying the information or opinions contained in the written disclosure.
ON BEHALF OF THE BOARD OF PACTON GOLD INC.
Alec Pismiris
Interim President & CEO
This news release contains or refers to forward-looking information based on current expectations, including, but not limited to the Company completion of the proposed transaction described herein, the prospect of the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their 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
Cision
View original content to download multimedia:http://www.prnewswire.com/news-releases/work-program-commences-ahead-of-drill-program-on-extensive-high-grade-vein-system-at-boodalyerrie-pilbara-western-australia-300750949.html
SOURCE Pacton Gold Inc.
View photos
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2018/15/c1635.html
TORONTO, Nov. 15, 2018 (GLOBE NEWSWIRE) — Gowest Gold Ltd. (“Gowest” or the “Company”) (GWA.V) is pleased to provide an update regarding the progress it is making with its development of the Company’s Bradshaw Gold Deposit (“Bradshaw”) in the Timmins Gold Camp.
As previously announced (see Gowest news release dated October 30, 2018), the Company has recently entered into a definitive Custom Milling Agreement (“the Agreement”) with QMX Gold Corporation (“QMX”) pursuant to which QMX will process material from Bradshaw at its Aurbel Mill located in Val d’Or, Quebec. In reaching this agreement, Gowest has achieved a critical milestone, one that had proven to be a major impediment in the Company’s efforts to raise the additional funds needed to continue Bradshaw’s development, let alone for conducting further work on the rest of its more than 100-square-kilometre North Timmins Gold Project.
With the Agreement in hand, Gowest is actively engaged in discussions with a number of parties to identify the best way to raise new funding. No details can be made available at this time; however, a number of options are being examined including private placement funding, some form of debt or royalty structure, as well as larger equity infusions. Further information on these opportunities will be provided as it becomes available.
The Company’s management also wishes to confirm that it is unaware of any material change in the Company’s operations that would account for the recent negative market activity.
Meanwhile, the Company would like to note the considerable progress that its team has achieved during the past two years.
ACCOMPLISHMENTS:
Gowest has completed over 2,098 metres of underground development, including commissioning a main ramp and portal of sufficient size for the future operating mine. This development was conducted at the 30, 45 and 60 metre levels. Silling has also been initiated as the first stopes are prepared for development. This underground work has revealed the gold structures, shown excellent continuity in the mineralization, and confirmed and enhanced the team’s geological model. Importantly, all of this has been completed with no injuries at the project to date, either at surface or underground.
At the same time, 28,567 tonnes of development material has been stockpiled on surface for sorting, milling, and sale as a concentrate.
Further, in preparation for future production, the water treatment plant has been made fully operational, and the discharge is environmentally compliant. The ore-sorter, which is now completely enclosed in a dome building facility, has been commissioned and proven to perform as expected. Initial tests have shown that it should be producing gold bearing material from the stockpiles grading 6 g/t to 10 g/t for trucking to the Aurbel facility for toll-milling. Previous milling and flotation test work showed 97% recoveries.
Additional work has demonstrated stable and competent ground conditions in the ore and waste areas, and a revised geological model has sharply expanded the potential of the mineralized area.
As previously announced (see news release dated February 14, 2018), the Company has completed an agreement to have the gold concentrate produced at the Aurbel mill sent for final processing and sale at Shandong Humon Smelting in China.
Overall, the past year has seen Gowest sharply enhance and de-risk its Bradshaw asset, including intersecting the highest gold values to date at 155 g/t gold in a new zone outside the resource (see news release dated November 29, 2017). The team has also identified 20 new gold zones in bulk sample area, as well as two new high-grade gold zones north and west of main deposit. A 30-hole, 3,871-metre underground infill drilling program has been completed that has significantly enhanced the Company’s understanding of the deposit. This included tightening drill spacing and increasing the technical team’s detailed knowledge of the mineralized structures. In addition to refining the deposit geometry to define stope limits and enhance grade control, this drilling clearly demonstrated the potential to add significant additional material to the resource.
Gowest President & CEO, Greg Romain said, “Despite the difficult market conditions, our team has much to be proud of. Meanwhile, we continue to work towards our plan of making Bradshaw a commercial mine. We are currently reviewing our financing options, and we are hopeful that we will be able to provide a further update in this regard before the end of the year. Meanwhile, on behalf of the Board and our management team, we appreciate the support we have received from our shareholders, and we look forward to providing them with the proof that their patience has not been in vain.”
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 |
EMX Royalty Announces Third Quarter 2018 Results and Repayment of Sprott Loan |
||
| November 14, 2018 Vancouver, British Columbia, November 14, 2018 (TSX Venture: EMX; NYSE American: EMX) – EMX Royalty Corp. (the “Company” or “EMX”) is pleased to announce that the Company has made its interim filings for the quarter ended September 30, 2018, which are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission’s website at www.sec.gov and on EMX’s website at www.EMXroyalty.com. Financial results are prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board, and are expressed in Canadian dollars unless otherwise stated. EMX shareholders wishing to obtain free printed copies of the interim financial statements may contact the Company via email at jharris@EMXroyalty.com or at Suite 501-543 Granville Street, Vancouver, BC, V6C 1X8. Sprott Loan Repayment. EMX has repaid the US $5 million senior secured credit facility loan from Sprott Private Resource Lending (Collector), LP (“Sprott”)1. EMX thanks Sprott for providing timely support of the Company’s royalty, royalty generation and strategic investment initiatives. About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX retaining royalty interests. EMX complements its generative business with strategic investment and third party royalty acquisition. For further information contact:
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. |
EMX Royalty Corp.
Dear Subscribers, enclosed we have two interviews with Eric Jensen of EMX Royalty Corp.
For More Information Contact:
Mr. Scott S. Close
10001 W. Titan Road
Littleton, CO, USA 80125
Email: sclose@emxroyalty.com
Phone: +1 (303) 973-8585
TORONTO , Nov. 13, 2018 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company“) (ANX.TO) (ANXGF) is pleased to announce initial drill results from a 10,000-metre drill program that began in July 2018 (the “Drill Program“) at the Goldboro Gold Project in Nova Scotia (“ Goldboro “). Six drill holes (BR-18-44 to 49; 3,237 metres) successfully targeted a previously untested deeper area of the Boston Richardson Gold System (“BR Gold System“) over 350 metres of strike and to depths of 525 metres (Exhibit A and B). Drilling expanded two mineralized zones an additional 200 metres along strike and expanded five other zones over 350 metres along strike. The Company observed nineteen occurrences of visible gold in the six drill holes and the character of the mineralization in those holes is consistent with results seen throughout the BR Gold System to date. The BR Gold System remains open for further expansion at depth and down plunge.
Highlights from recent drill results include:
- 8.79 grams per tonne (“g/t”) gold over 8.0 metres (483.0 to 491.0 metres) in hole BR-18-44, including 64.40 g/t gold over 0.8 metres;
- 51.89 g/t gold over 1.0 metre (224.5 to 225.5 metres) in hole BR-18-46;
- 5.15 g/t gold over 4.0 metres (390.9 to 394.9 metres) including 10.08 g/t gold over 1.5 metres in hole BR-18-47;
- 21.06 g/t gold over 1.0 metre (200.1 to 201.1 metres) in hole BR-18-48; and
- 6.39 g/t gold over 2.0 metres (457.2 to 459.2 metres) and 3.35 g/t gold over 4.5 metres (539.0 to 543.5 metres) in hole BR-18-49, including 25.68 g/t gold over 0.4 metres.
The continuity of the BR Gold System is evident as the Company drills deeper. Below are select highlights from assays previously reported by the Company from mineralized zones discovered below the existing Mineral Resource and contiguous with mineralization intersected in this Drill Program. The continuity at depth is also illustrated in Exhibit B.
- 2.21 g/t gold over 25.5 metres (506.1 to 531.6 metres) including 12.39 g/t gold over 3.2 metres in hole BR-18-30;
- 4.13 g/t gold over 20.5 metres (324.5 to 345.0 metres) including 9.93 g/t over 7.5 metres in hole BR-18-23;
- 19.99 g/t gold over 1.7 metres (369.7 to 371.4 metres) in hole BR-18-23;
- 4.82 g/t gold over 3.6 metres (384.7 to 388.3 metres) including 9.90 g/t gold over 1.1 metres in hole BR-18-33;
- 63.88 g/t gold over 1.0 metre (378.0 to 379.0 metres) in hole BR-18-41;
- 6.05 g/t gold over 3.7 metres (472.0 to 475.7 metres) including 28.12 g/t gold over 0.7 metres in hole BR-18-42; and
- 9.29 g/t gold over 2.1 metres (420.6 to 422.7 metres) in hole BR-18-21.
A full table of composited assays from recent drilling is presented below.
“We have demonstrated further expansion of the Goldboro Deposit, particularly in the Boston Richardson Gold System, and discovered that mineralization continues to at least to 525 metres. These results demonstrate the growth potential of the Goldboro Deposit, coming on the heels of an updated Mineral Resource estimate that highlighted a 15% increase of Measured and Indicated Resources to over 600,000 ounces, and a 30% increase of Inferred Resources to 450,000 ounces. Having successfully completed our goal of expanding the Boston Richardson Gold System, we have recently begun drilling at West Goldbrook with the aim of infill drilling critical portions of this area to upgrade Inferred Resources and to test the expansion potential to depths of 400 metres. We have completed approximately 75% of our 10,000-metre drill program which we expect to wrap up by year end. The results of this Drill Program will be used to update the Mineral Resource estimate, and will be incorporated into a feasibility study for Goldboro .”
~ Dustin Angelo , President and CEO, Anaconda Mining Inc.
Expansion of the BR Gold System
Drill holes BR-18-30, -33, -41, and -42 intersected new zones of mineralization within the BR Gold System on Sections 9050E and 9000E as previously reported on July 5, 2018 . Diamond drill holes BR-18-44 to -49 of the current Drill Program were primarily designed to test the strike gap in drilling between the West Goldbrook Gold System and Section 9050E within the BR Gold System at total depth of 525 metres (Exhibit B). Holes BR-18-44 to -49 were drilled along sections 8600E, 8700E, 8800E, 8900E and 9100E and contained mineralization characteristic of the BR Gold System. Based on these results and those reported for section 9050E and 9100E, Anaconda believes there is continuity within these newly outlined mineralized zones over the entire 500 metres of strike (from Section 8600E to Section 9100E).
Assays for drill hole BR-18-43 will be reported with other holes drilled in the West Goldbrook Gold System.
Table of selected composited assays from drill holes reported in this press release:
|
Drillhole |
From |
To |
Interval |
Au (g/t) |
Gold |
Visible |
Section |
|
BR-18-44 |
217.5 |
218.5 |
1.0 |
6.13 |
EG |
8900E |
|
|
and |
269.0 |
269.5 |
0.5 |
7.53 |
EG |
vg |
|
|
and |
316.5 |
317.0 |
0.5 |
2.76 |
BR |
vg |
|
|
and |
322.0 |
322.5 |
0.5 |
0.94 |
BR |
vg |
|
|
and |
363.7 |
365.7 |
2.0 |
0.76 |
BR |
vg |
|
|
and |
368.2 |
370.1 |
1.9 |
2.89 |
BR |
||
|
and |
399.2 |
400.7 |
1.5 |
4.02 |
BR |
||
|
and |
426.5 |
429.7 |
3.2 |
1.61 |
BR |
vg |
|
|
and |
432.5 |
433.0 |
0.5 |
19.95 |
BR |
vg |
|
|
and |
471.0 |
477.0 |
6.0 |
1.64 |
BR |
vg |
|
|
including |
473.0 |
474.0 |
1.0 |
5.42 |
BR |
||
|
and |
483.0 |
491.0 |
8.0 |
8.79 |
BR |
vg |
|
|
including |
485.9 |
486.6 |
0.7 |
18.63 |
BR |
||
|
including |
490.2 |
491.0 |
0.8 |
64.40 |
BR |
vg |
|
|
BR-18-45 |
264.0 |
265.0 |
1.0 |
0.65 |
EG |
vg |
8800E |
|
and |
424.9 |
427.0 |
2.1 |
2.34 |
BR |
vg |
|
|
and |
461.0 |
461.9 |
0.9 |
6.02 |
BR |
||
|
and |
501.5 |
503.5 |
2.0 |
2.61 |
BR |
||
|
BR-18-46 |
224.5 |
225.5 |
1.0 |
51.89 |
EG |
8700E |
|
|
and |
334.0 |
340.5 |
6.5 |
1.89 |
BR |
||
|
and |
383.5 |
384.6 |
1.1 |
4.67 |
BR |
||
|
and |
459.0 |
460.0 |
1.0 |
7.55 |
BR |
||
|
and |
475.0 |
476.5 |
1.5 |
0.82 |
BR |
vg |
|
|
and |
482.5 |
483.5 |
1.0 |
4.61 |
BR |
||
|
BR-18-47 |
341.8 |
342.7 |
0.9 |
6.11 |
BR |
vg |
8600E |
|
and |
377.9 |
380.4 |
2.5 |
4.12 |
BR |
||
|
incl. |
378.9 |
379.4 |
0.5 |
14.65 |
BR |
||
|
and |
390.9 |
394.9 |
4.0 |
5.15 |
BR |
vg |
|
|
incl. |
391.9 |
393.4 |
1.5 |
10.08 |
BR |
||
|
BR-18-48 |
200.1 |
201.1 |
1.0 |
21.06 |
EG |
9100E |
|
|
and |
291.7 |
292.2 |
0.5 |
6.07 |
EG |
vg |
|
|
and |
395.4 |
401.0 |
5.6 |
0.83 |
BR |
vg |
|
|
and |
476.0 |
478.4 |
2.4 |
4.20 |
BR |
||
|
incl. |
477.8 |
478.4 |
0.6 |
15.52 |
BR |
||
|
BR-18-49 |
457.2 |
459.2 |
2.0 |
6.39 |
BR |
8800E |
|
|
and |
476.5 |
480.9 |
4.4 |
2.86 |
BR |
vg |
|
|
and |
502.5 |
504.9 |
2.4 |
0.97 |
BR |
vg |
|
|
and |
539.0 |
543.6 |
4.6 |
3.35 |
BR |
||
|
including |
541.9 |
542.3 |
0.4 |
25.68 |
BR |
||
|
and |
550.0 |
551.5 |
1.5 |
6.51 |
BR |
vg |
|
|
and |
561.2 |
563.0 |
1.8 |
2.93 |
BR |
||
|
including |
562.0 |
562.5 |
0.5 |
6.25 |
BR |
||
|
and |
597.7 |
598.2 |
0.5 |
1.83 |
BR |
vg |
This news release has been reviewed and approved by Paul McNeill , P. Geo., VP Exploration with Anaconda Mining Inc., a “Qualified Person”, under National Instrument 43-101 Standard for Disclosure for Mineral Projects.
All samples and the resultant composites referred to in this release are collected using QA/QC protocols including the regular insertion of standards and blanks within the sample batch for analysis and check assays of select samples. All samples quoted in this release were analyzed at Eastern Analytical Ltd. in Springdale, NL , for Au by fire assay (30 g) with an AA finish.
Samples analyzing greater than 0.5 g/t Au via 30 g fire assay were re-analyzed at Eastern via total pulp metallic. For the total pulp metallic analysis, the entire sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened to 150mesh. The +150mesh fraction is fire assayed for Au, and a 30 g subsample of the -150mesh fraction analyzed via fire assay. A weighted average gold grade is calculated for the final reportable gold grade. Anaconda considers total pulp metallic analysis to be more representative than 30 g fire assay in coarse gold systems such as the Goldboro Deposit.
Reported mineralized intervals are measured from core lengths. Intervals are estimated to be approximately 75-100% of true widths of the mineralized zones, except for drill intersections below 450 metres depth in hole BR-18-30, 49, 41, 44 where the drill of the host fold structure near the bottom of the hole. In these areas reported intervals may be as much as 50% of true width.
A version of this press release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.
ABOUT ANACONDA
Anaconda Mining is a TSX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia . The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland , comprised of the Stog’er Tight open pit mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and 7-million tonne capacity tailings facility, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject of a 2018 a preliminary economic assessment which demonstrates a strong project economics.
The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the annual information form for the fiscal year ended December 31, 2017 , available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
View photos
Exhibit A. A map of the Goldboro Deposit showing the location of drill holes reported in this press release, drill collar locations at West Goldbrook area where drilling has been initiated as well as historic collars. (CNW Group/Anaconda Mining Inc.)
View photos
Exhibit B. A partial long section through the Boston Richardson Gold System of the Goldboro Deposit (see corresponding section lines in map shown in Exhibit A) showing the pierce points and highlighted assays for intersections of mineralization discovered (orange) below the current resource model (red). (CNW Group/Anaconda Mining Inc.)
View photos
Exhibit C. A long section through the Goldboro Deposit showing the area highlighted in Exhibit B relative to the whole Goldboro Deposit Long Section. (CNW Group/Anaconda Mining Inc.)
SOURCE Anaconda Mining Inc.
View photos
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2018/13/c2401.html
Bob Moriarty
Archives
Nov 13, 2018
I am at the end of a four-day trip to see Novo Resources’ projects at Karratha and Egina. I am leaving for London in about 24 hours but won’t be home until Saturday night. As soon as I get home I will do a full report on what I have learned on this trip. As an interested shareholder or potential shareholder, you need to read what I have found out before voting or taking any action.
Novo has their Annual General Meeting on the 5th of December. They have sent out the voting Proxies and some shareholders have already started to vote. I highly encourage you to NOT VOTE until you read what I have to say.
A Toronto group is trying to take over the board with the intention of stripping off the assets into two other companies leaving Novo owners holding an empty shell. If you vote before you know all the facts you are cutting your own throat.
I know a lot of shareholders all the way to the top are angry at the decline in price from $8.80 to $1.97 and they would like to start seeing scalps hanging from their mantelpiece but Novo has made far more progress in a year than any company I have ever seen. You want to know about it and then make an intelligent vote.
Do not even think about letting the Toronto Mafia take over control of Novo just to carve it into small pieces. I was humping through the outback in 105.8-degree temperature yesterday to learn what the future for Novo was. I came within a couple of minutes of heat stroke just so I could see their progress. You want to know what I know and I will post it early next week.
Until then do not under any circumstances vote your Novo shares.
Novo Resources
NVO-V $1.97 (Nov 12, 2018)
NSRPF $1.50 OTCQX 163.7 million shares
Novo Resources website
###
|
|||||||||||||||||||
|
