Category: Precious Metals

EMX Royalty Announces Third Quarter 2023 Results

Post author By admin
Post date November 13, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 13, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to report results for the quarter ended September 30, 2023 (“Q3-2023”). The Company’s filings for the quarter are available on SEDAR at www.sedarplus.ca, 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 were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

HIGHLIGHTS FOR Q3-2023

Financial Updates for the Three Months Ended September 30, 2023

Revenue and other income for the three months ended September 30, 2023 (“Q3 2023”) was $12,925,000 (2022 – $7,206,000). Adjusted revenue and other income¹ of $14,526,000 (2022 – $9,319,000) included $1,601,000 (2022 – $2,113,000) in revenue for the Company’s share of royalty revenue from the Caserones Mine (effective) royalty interest in Chile.
Net income for the three months ended September 30, 2023 was $2,443,000 (2022 – loss of $12,878,000).
Cash provided by operating activities for the three months ended September 30, 2023 was $7,527,000 (2022 – $846,000). Adjusted cash¹ provided by operating activities for the three months ended September 30, 2023 was $9,268,000 (2022 – $2,719,000).
As at September 30, 2023, EMX had cash of $21,587,000 (December 31, 2022 – $15,508,000), investments, long-term investments and loans receivable valued at $12,739,000 (December 31, 2022 – $14,561,000) and loans payable of $41,927,000 (December 31, 2022 – $40,489,000).

Corporate Updates

Execution of Updated Timok Royalty Agreement

EMX executed an amended and restated royalty agreement on September 1, 2023 for its Timok royalty property with Zijin (Europe) International Mining Company Ltd., a wholly owned subsidiary of Zijin Mining Group Ltd (“Zijin”). EMX and Zijin have agreed that the Timok royalty will consist of a 0.3625% Net Smelter Return (“NSR”) royalty that is uncapped and cannot be repurchased or reduced. The royalty covers Zijin’s Brestovac exploration permit area (including the Cukaru Peki Mining licenses), as well as portions of Zijin’s Jasikovo-Durlan Potak exploration license north of the currently active Bor Mine license (see EMX news release dated September 5, 2023). Cukaru Peki represents one of the premier copper and gold discoveries in the world in the past 10 years and is a top tier royalty asset for EMX.

Subsequent to the execution of the amended and restated royalty agreement, EMX received $6,676,000 in royalty proceeds from its Timok royalty property with Zijin which included $1,590,000 from 2021, $3,200,000 from 2022, and $1,890,000 up to June 30, 2023 (see EMX news release dated September 12, 2023). From that point forward EMX will continue to receive quarterly production royalty payments on an ongoing basis.

Execution of Acquisition Agreement for New Royalties with Franco-Nevada

EMX executed a binding term sheet with Franco-Nevada Corporation (“Franco-Nevada”) for the joint acquisition of newly created precious metals and copper royalties sourced by EMX (see EMX news release dated August 1, 2023). Franco-Nevada will contribute 55% (up to $5,500,000) and EMX will contribute 45% (up to $4,500,000) towards the royalty acquisitions, with the resulting royalty interests equally split (i.e. 50/50). The initial term is for three years, or until the maximum contributions totaling $10,000,000 from both companies have been met, and may be extended if mutually agreed by both companies. The agreement allows EMX to direct a large amount of capital towards the royalty generation aspect of its business model, and Franco-Nevada to participate in exploration stage royalty financing opportunities identified by EMX.

Royalty Acquisition and Royalty Generation Updates

During Q3 2023, the Company’s royalty business was active in North America, South America, Europe, Turkey, Australia and Morocco. The Company spent $4,769,000 (2022 – $5,269,000) on royalty acquisition and generation costs and recovered $1,140,000 (2022 – $3,247,000) from partners. Royalty acquisition and generation costs include exploration related activities, technical services, project marketing, land and legal costs, as well as third party due diligence for acquisitions. Included in revenue and other income was $1,409,000 in option, advance royalty, and other pre-production payments related to existing partnered projects as a result of royalty generation activities. The Company also completed seven new property agreements across the portfolio, including two in Canada, two in Norway, two in Sweden and one in Australia, while continuing to replace partnered properties with new royalty generation projects.

Producing Royalties	6
Advanced Royalties	11
Exploration Royalties	149
Royalty Generation Properties	120

Figure 1. EMX’s royalty and mineral property portfolio

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1508/187260_emxmap1.jpg

Highlights from Q3 2023 include the following:

EMX earned approximately $1,955,000 in royalty revenue from the Gediktepe Mine as production continued from the oxide gold deposit. Partner Lidya Madencilik Anayi ve Ticaret A.S. (“Lidya”) also notified EMX that it has completed an internal Feasibility Study for development of the underlying polymetallic sulfide deposit. A decision regarding financing and construction for the sulfide project is pending.
The Caserones (effective) royalty distribution for Q3 totaled approximately $1,741,000. Lundin Mining Corporation (“Lundin”), in connection with their acquisition of fifty-one percent (51%) of the issued and outstanding equity of SCM Minera Lumina Copper Chile SpA (see Lundin news release dated July 13, 2023), filed a technical report on SEDAR titled “NI 43-101 Technical Report on the Caserones Mining Operation, Atacama Region, Chile” that included current mineral resource and reserve estimates. Lundin also provided Caserones H1 production and H2 production guidance.
Leeville revenue earned by EMX totaled approximately $773,000 from royalty production that totaled 403 ounces of gold. Q3 2023 marked another strong quarter of Leeville royalty production along with robust gold prices.
EMX recognized $568,000 in royalty revenue from the Balya property in Q3 2023 which included $212,000 from Q2 production and $356,000 from Q3 production subsequently received. Production began to ramp up again in Q2 2023 with 99,185 tonnes of mineralized material produced from Balya North. Production continued to accelerate in Q3 2023, with 161,133 tonnes of mineralized material produced according to calculations provided by Esan at the end of Q3.
EMX received $134,000 from Gold Bar South for royalty revenue earned in Q1 2023 and Q2 2023, and earned royalty revenue of $59,000 from Q3 2023 production, which was subsequently received.
AbraSilver Resource Corp. (“AbraSilver”) reported final results from the Phase III drill program at the Diablillos silver-gold royalty property. Phase III drill holes will be incorporated into an updated mineral resource estimate to be included in the Diablillos PFS scheduled for completion in H2 of 2023. As part of its ongoing PFS work, AbraSilver also reported on positive results from metallurgical optimization test work conducted for the Oculto deposit.
Arizona Sonoran Copper continued to report infill drilling results from the Parks-Sayler porphyry copper royalty property. Subsequent to quarter-end, Arizona Sonoran announced updated mineral resource estimates for the Parks-Sayler deposit, which is partially covered by an EMX royalty, as well as other deposits that constitute its Cactus Project.
Exploration drilling by South32 at the Hermosa Project’s Peake prospect returned mineralized intercepts covered by EMX’s Hardshell royalty property that included the best copper intercept to date of 139 meters averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver (true width not reported).
EMX’s U.S. royalty generation portfolio progressed with 13 partner-funded work programs consisting of five drill programs, the expansion of properties through the staking of new claims, and the permitting of key projects in preparation for three additional drill programs to be conducted in Q4 2023 and early 2024. EMX has 39 projects in partnership in the western U.S and received various option, AAR, and management fee payments during the quarter.
Scout Discoveries Corp. (“Scout”) (a private Idaho company) and EMX closed on an amended transaction, originally announced in Q1 2023 (see EMX news release dated March 8, 2023) for the sale of EMX’s Erickson Ridge, South Orogrande, Lehman Butte, and Jackknife precious and base metal projects to Scout.
In Canada, EMX executed two new agreements to partner the Jean Lake property to Canada Nickel Company, and the Ear Falls property to Beyond Lithium. EMX and its partners conducted summer field programs to continue advancing the properties in the portfolio. EMX received $104,000 in cash payments during the quarter from partnered projects.
In Chile, Pampa Metals announced assay results from its initial three hole drill program totaling 1,957 meters at the Buena Vista target on the Block 4 property. Anomalous copper, molybdenum and precious metals were intercepted, indicative of shallow levels of a porphyry system. Elsewhere within the portfolio, EMX was notified by Pampa Metals that it was abandoning the Arrieros, Redondo-Veronica, Cerro Blanco, Cerro Buena Aries, and Block 3 properties, resulting in EMX gaining 100% control of each property. These properties are now available for partnership.
In Northern Europe the Company continued to develop and advance its portfolio of projects, with summer field programs continuing on numerous properties in Q3 2023. EMX has 37 projects in partnership with other companies in Northern Europe. New partnerships were established for the Bamble and Flåt battery metals projects in Norway (Londo Nickel plc) and the Njuggträskliden and Mjövattnet battery metals projects in Sweden (Kendrick Resources plc).
The Company optioned the Copperhole Creek project in Queensland, Australia to Lumira Energy LTD, a private Australian company. The agreement provides EMX with a 2.5% NSR royalty interest, cash and equity payments, work commitments and other considerations. In conjunction with the transaction, Lumira Energy intends to establish a public listing on the Australian Securities Exchange (ASX) by mid-year 2024.
Also in Q3 2023 in Australia, partner companies executed drill programs comprising over 5,000 meters on three EMX royalty properties (Yarrol, Mt Steadman and Koonenberry) and field programs continued to advance the Queensland Gold and Copperhole Creek projects.
Royalty generation programs continued in the Balkans and in Morocco in Q3 2023, where multiple exploration license applications have been filed by the Company. Surface sampling programs commenced on several new exploration licenses awarded to EMX in Morocco targeting a variety of styles of mineralization. EMX also continued to assess projects and opportunities in the Balkans.

Investment Updates

As at September 30, 2023, the Company had marketable securities of $6,830,000 (December 31, 2022 – $9,966,000), and $5,313,000 (December 31, 2022 – $4,591,000) in private investments. The Company will continue to generate cash flow by selling certain of its investments when appropriate.

OUTLOOK

The 2023 year will continue to see revenue and other income coming from our cash flowing royalties, including Leeville and Gold Bar South in Nevada, Gediktepe and Balya in Turkey, and Timok in Serbia, and our effective royalty interest on Caserones in Chile. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global asset portfolio.

The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of our long-term debt, continuing to evaluate equity markets, and the ongoing monetization of the Company’s marketable securities.

EMX is well positioned to identify and pursue new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.

Marketing Consulting Services

The Company is also pleased to announce that it has entered into an agreement with LFG Equities Corp. (“LFG”), an independent contractor with a business address at 402-9140 Leslie St., Richmond Hill, ON, L4B 0A9. Commencing on September 10^th, 2023 for an initial term of six months, under the terms of the Agreement, LFG will provide marketing consulting services to the Company to communicate to the financial community information about EMX by way of newsletters and be paid US$50,000 plus applicable taxes.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.

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

For further information contact:

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

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

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

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

Forward-Looking Statements

This news release 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 statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

¹Adjusted revenue and other income and adjusted cash provided by operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section on page 24 of the Q3-2023 MD&A for more information on each non-IFRS financial measure.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/187260

Base Metals Dolly Varden Silver Energy Junior Mining Precious Metals

3 Take-Aways from Dolly Varden Silver’s (DV.V) latest drill results

Post author By admin
Post date November 10, 2023

Original Source: https://globalstocksnews.com/3-take-aways-from-dolly-varden-silvers-dv-v-latest-drill-results/

On November 6, 2023 Dolly Varden Silver (TSXV:DV) (OTC:DOLLF) released drill results from the Wolf Vein and – 1.5 kilometers to the north – the Moose Vein.

DV Silver is developing its 100% held Kitsault Valley Project located in The Golden Triangle of British Columbia, Canada, 25kms by road to tide water.

“The Golden Triangle is so named because it hosts some of the richest gold ore bodies in the world, as well as abundant silver, nickel and copper deposits,” confirms BC Business. It has 1.2 billion ounces silver estimated reserves, with 214 million proven and probable.

Three Take-aways from the November 6, 2023 drill results:

1. High grade silver continues at depth
2. Discovery of significant quantities of base metals
3. Moose Vein demonstrating similar metallic profile to Wolf Vein

Wolf Vein Highlights:

DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters, including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter from an 81-meter step-out.

DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over 18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09% Zn) over 0.50 meters.

Moose Vein highlights:

DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length interval averaging 269 g/t Ag

¹AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn, assays are uncut

“The results we are seeing from the Wolf Vein continue to demonstrate depth continuity of the high-grade silver mineralization as well as an increase in base metal content,” stated Shawn Khunkhun, President and CEO of Dolly Varden Silver. “Drill hole DV23-375 has extended the plunge length to over 950 meters with increased thickness of the potentially underground bulk-mineable mineralization and it remains wide open for expansion. With over 70 drill holes remaining to be assayed and announced we eagerly await their results.”

When Dolly Varden purchased the Homestake Ridge Property from Fury, the primary objective was to consolidate assets, add size and scale. But Khunkhun and the DV Silver geological team are also exploring a hunch that two metallic zones are connected. DV needed to control both assets to meaningfully explore the hunch.

“What is special about the November 6, 2023 drill results is that these are big intercepts,” Khunkhun told Guy Bennett, the CEO of Global Stocks News (GSN). “We’re talking about an almost 27-meter intercept, grading at 461 g/t of silver equivalent.”

This is the first time during Khunkhun’s tenor as CEO, that DV has reported silver equivalencies.

“Along with 296 grams of silver, we have a significant lead and zinc kicker,” confirmed Khunkhun. “As we go deeper, this base metal zone may continue to add value to the deposit. We believe the Wolf Vein is potentially amenable to underground bulk mining.”

Bulk mining generally has lower mining costs associated with it, allowing for a lower cut off grade bringing in more material, increasing the tonnage per day and number of ounces mined.

“Some of these old, narrow vein deposits don’t work in the modern era,” Khunkhun told GSN. “You don’t want to be chasing narrow veins, hand sorting material. Our goal is that Dolly Varden Silver will be an efficient, highly mechanized mine with a low All-In-Sustaining-Cost (AISC).”

“We’ve already have a kilometer of plunge length at Wolf,” Khunkhun continued. “When we step out, we get solid hits like this. Why did Hecla put in $10 million last week? I suspect they are seeing the same potential we see at Wolf. Hecla’s goal is to increase silver production in Canada.”

About 47% of DV Silver is owned by institutional investors (Fury – 22%; Hecla 15%; Eric Sprott – 9%).

“I audition the institutional shareholders,” KhunKhun explained to GSN. “We have various entities throwing money at us at higher prices. It’s tempting to take the money. But I don’t want some hedge fund spontaneously deciding to rotate out of silver into uranium. It’s valuable to have stakeholders who share our long-term vision – like Hecla, Fury and Sprott.”

On November 6, 2023, Maurice Jackson, Founder and CEO of Proven & Probable conducted an interview with Mr. Khunkhun. Proven & Probable specialises in simplifying geological data. DV Silver sponsors the website, and Mr. Jackson is a long-term shareholder in DV Silver.

“We are very happy to welcome Hecla’s increased ownership stake,” Khunkhun told Mr. Jackson, “Hecla has demonstrated it is a sticky shareholder. They’re looking for the end product. The $10 million strategic investment raised their stake from 10% to about 15%. We’re happy to leverage their financial and technical contributions.”

A total of 51,454 meters was completed during 2023 in 115 drill holes at the Dolly Varden and Homestake Ridge areas with 23,923 of those from the Dolly Varden Project area.

The Contractor’s drills have been demobilized and the exploration camp has been winterized. The November 6, 2023 release includes eight holes from Wolf and four holes from Moose. A total of 31 holes for 15,860 meters were drilled at Wolf in 2023.

Contact: guy.bennett@globalstocksnews.com

Full Disclaimer

Precious Metals

$1.95 Over Spot Silver Krugs. Order Now!

Post author By admin
Post date November 9, 2023

Base Metals Dolly Varden Silver Exclusive Interviews Junior Mining Precious Metals

$$$ Mining Bonanza: Dolly Varden Silver Strikes 461 G/T Silver Eq Jackpot!

Post author By admin
Post date November 6, 2023

In this conversation we sit down Shawn Khunkhun the CEO of Dolly Varden Silver which has just announced another impressive discovery, this time on a step-out drill on the high-grade Wolf Vein Deposit, which is one of seven high-grade deposits on the Kitsault Valley Project, located in the prolific ‘Golden Triangle’ in British Columbia. Equally important, viewers will note that Hecla Mining has just increased their strategic position in Dolly Varden Silver with a $10,000,000 investment, which was consummated last week. Find out the details right here!

Tags #JuniorMining, #PreciousMetals, #ProvenAndProbable, CanadianSilverStocks, DollyVardenSilver, Hecla Mining, HomestakeRidge, MauriceJackson, ShawnKhunkhun, silverstocks

Precious Metals

Gold Demand Trends Q3 2023

Post author By admin
Post date November 6, 2023

Q3 gold demand firmly above longer-term average

Central banks gold buying maintained a historic pace but fell short of the Q3’22 record. Jewellery demand softened slightly in the face of high gold prices, while the investment picture was mixed.

Gold demand (excluding OTC) in Q3 was 8% ahead of its five-year average, but 6% weaker y/y at 1,147t. Inclusive of OTC and stock flows, total demand was up 6% y/y at 1,267t.¹

Net central bank buying of 337t was the third strongest quarter in our data series, although failed to match the exceptional 459t from Q3’22. Yet, demand from central banks y-t-d is 14% ahead of the same period last year at a record 800t.

Q3 investment demand of 157t, although 56% higher y/y, was weak relative to its five-year average of 315t. Global gold ETFs lost 139t in Q3 – a far smaller outflow than Q3’22 (-244t).

Bar and coin investment declined 14% y/y to 296t, although remained firmly above the five-year quarterly average of 267t. The y/y decline is largely the product of sharp falls in Europe.

OTC investment totalled 120t in Q3. This opaque source of demand was again evident as the gold price found firm support for much of Q3, despite ETF outflows and falling COMEX futures net longs.

Jewellery consumption softened slightly, down 2% y/y at 516t amid continued gold price strength. Jewellery fabrication was marginally more resilient, down 1% to 578t due to inventory build-up.

Fragile consumer electronics demand continued to undermine volumes of gold used in technology, which fell 3% y/y to 75t.

Mine production reached a record 971t in Q3, helping to lift total gold supply to 1,267t (+6% y/y). Recycling was also higher y/y, up 8% to 289t.

Gold demand in Q3: weaker y/y but healthy compared with its 10-year average

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

Highlights

The LBMA (PM) gold price averaged US$1,928.5/oz during Q3. Although 2% below the record high seen in Q2, this was 12% higher y/y. Several countries saw higher local gold prices due to currency weakness against the US dollar, including Japan, China and Turkey.

Y-t-d, central bank net buying of gold is 14% ahead of 2022. Central banks have bought a net 800t of gold so far this year, the highest on record for that nine-month period. While there is a nucleus of committed regular buyers, the range of countries whose central banks have added to their reserves over recent quarters is broad-based.

Investment demand is mixed y-t-d. Bar and coin investment is broadly in line with Q1-Q3 last year, thanks to H1 strength in the Middle East, Turkey and China. Gold ETFs, in contrast, have seen outflows of 189t so far this year, and have now registered six successive quarters of negative demand.

After a record Q3, mine production also reached a new y-t-d high of 2,744t. This puts a new annual record within reach for 2023. The y-t-d supply of recycled gold is also higher at 924t (+9%). Although this element of supply has been supported by elevated gold prices, it has been capped by economic resilience in the US and a strong investment motive in the Middle East.

Gold supply and demand

Tonnes	Q3’22	Q4’22	Q1’23	Q2’23	Q3’23	y/y change
Supply
Mine production	949.1	946.7	860.2	912.7	971.1	2%
Net producer hedging	-26.8	-13.6	37.1	-19.5	7.2	–
Recycled gold	268.3	290.7	312.0	322.9	288.8	8%
Total Supply	1,190.6	1,223.8	1,209.3	1,216.1	1,267.1	6%

Demand
Jewellery fabrication	582.6	601.9	512.4	492.8	578.2	-1%
Jewellery consumption	525.7	628.5	474.8	475.8	516.2	-2%
Jewellery inventory	56.9	-26.7	37.6	17.0	62.1	9%
Technology	77.3	72.1	70.1	70.4	75.3	-3%
Electronics	63.5	57.9	56.1	56.4	61.1	-4%
Other Industrial	11.3	11.7	11.6	11.6	11.8	4%
Dentistry	2.5	2.4	2.4	2.4	2.3	-6%
Investment	100.5	247.4	274.3	255.7	156.9	56%
Total bar & coin demand	344.2	336.6	303.0	276.8	296.2	-14%
Physical Bar demand	225.1	222.2	183.3	163.8	205.9	-9%
Official Coin	86.2	85.5	94.9	87.2	54.9	-36%
Medals/Imitation Coin	33.0	28.9	24.7	25.8	35.4	7%
ETFs & similar products	-243.7	-89.2	-28.6	-21.1	-139.3	–
Central banks & other inst.	458.8	382.1	287.7	174.8	337.1	-27%
Gold demand	1,219.2	1,303.5	1,144.5	993.7	1,147.5	-6%
OTC and other	-28.6	-79.7	64.7	222.4	119.6	–
Total Demand	1,190.6	1,223.8	1,209.3	1,216.1	1,267.1	6%
LBMA Gold Price, US$/oz	1,728.9	1,725.9	1,889.9	1,975.9	1,928.5	12%

Source: Metals Focus, Refinitiv GFMS, ICE Benchmark Administration, World Gold Council
Note: For an explanation of these terms, please see the Notes and definitions

Source: https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q3-2023

Precious Metals

Central banks bought 77 tonnes of gold in September, 337 tonnes in Q3 – WGC’s Gopaul

Post author By admin
Post date November 6, 2023

(Kitco News) – September was another banner month for gold purchases by the world’s central banks, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council.

“Reported global central bank gold reserves, via the IMF and publicly available sources, rose by a net 77t in September,” Gopaul said in an update on Thursday. “Gross sales (1t) were dwarfed by gross purchases (78t), highlighting the strength of buying.”

Gopaul noted that the central banks who have been regular buyers so far this year dominated purchases once again last month.

“Major buyers were all from emerging markets,” he said. “The People’s Bank of China added the most gold during the month (26t), followed by the National Bank of Poland and the Central Bank of Uzbekistan.”

Turkey and India were also major buyers last month, with the former also purchasing 15 tonnes of gold in August as it continues to rebuild its reserves following significant selling in April and May, while the latter has made a splash in recent months.

Looking at the year-to-date totals, Gopaul noted that “the People’s Bank of China remains the largest gold purchaser in 2023,” and that the central banks of emerging market countries “have been the driving force on both the purchases and sales side.”

“The Monetary Authority of Singapore remains the sole developed market bank adding gold to its reserves,” he said, and pointed out that (the addition by the European Central Bank) “was related to Croatia joining the eurozone in January,” and did not represent the buying intentions of the central bank itself.

According to the WGC’s recent Gold Demand Trends report, year-to-date central bank net buying of gold is 14% ahead of 2022. “Central banks have bought a net 800t of gold so far this year, the highest on record for that nine-month period,” the report said. “While there is a nucleus of committed regular buyers, the range of countries whose central banks have added to their reserves over recent quarters is broad-based.”

The 337t of gold purchased by central banks in Q3 “was the third strongest quarter in our data series, although [it] failed to match the exceptional 459t from Q3’22,” the analysts noted.

ByErnest Hoffman

For Kitco News

ehoffman@kitco.com

www.kitco.com

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Dolly Varden Silver Junior Mining Precious Metals

Dolly Varden Silver Intersects 461 g/t AgEq(1) over 26.99m, incl. 2,260 g/t AgEq(1) over 0.5m in 81 Meter Step-Out at Wolf

Post author By admin
Post date November 6, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 6, 2023) – Vancouver, BC: Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from the Wolf Vein. Drill hole DV23-375, an 81 meter step-out from mineralization encountered in 2022 and 50 meters below DV23-268 (Sept. 11, 2023 news release) that intersected a wide breccia vein zone. In addition, initial drilling at the Moose Vein, 1.5 kilometers North of Wolf, intersected silver mineralized veining similar to the system at Wolf.

Highlights from the Wolf Vein drilling include:

DV23-375, Southwest Extension step-out: 461 g/t AgEq* (296g/t Ag, 1.68% Pb, 3.01% Zn) over 26.99 meters, including 2,260 g/t AgEq* (1,475g/t Ag, 10.65% Pb, 12.00% Zn) over 0.50 meter from an 81 meter step-out
DV23-379, Southwest Extension infill: 287 g/t AgEq* (247g/t Ag, 0.40% Pb, 0.73% Zn) over 18.21 meters, including 1,170g/t AgEq (1,125g/t Ag, 0.14% Pb, 1.09% Zn) over 0.50 meters

Highlights from initial drilling at the Moose Vein, located 1.5 kilometers from Wolf Vein within the 5.4 kilometer long belt of silver mineralization **:

DV23-371: 712 g/t Ag over 1.00 meter within a 7.55 meters length interval averaging 269 g/t Ag

¹AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn, assays are uncut

Reported intervals are drill core length; true widths vary from 50 to 85% of core length interval. The dip of the Wolf Vein at depth, and the Moose Vein have insufficient data to define accurate dip (tables 1 and 2).

“The results we are seeing from the Wolf Vein continue to demonstrate depth continuity of the high-grade silver mineralization as well as an increase in base metal content,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver. “Drill hole DV23-375 has extended the plunge length to over 950 meters with increased thickness of the potentially underground bulk-mineable mineralization and it remains wide open for expansion. With over 70 drill holes remaining to be assayed and announced we eagerly await their results.”

A total of 51,454 meters was completed during 2023 in 115 drill holes at the Dolly Varden and Homestake Ridge areas with 23,923 of those from the Dolly Varden Project area. The Contractor’s drills have been demobilized and the exploration camp has been winterized. This release includes eight holes from Wolf and four holes from Moose. A total of 31 holes for 15,860 meters were drilled at Wolf in 2023.

Figure 1. Location of Wolf and Moose Veins as well as significant Silver and Gold Deposits of Dolly Varden’s Kitsault Valley Trend. Suggested 1.5km periodicity of cross-valley silver bearing veins

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_002full.jpg

Holes DV23-375 is an 81m step-out down plunge from drill hole DV22-320, that intersected 321g/t Ag over 12.85 meters (see Feb. 6, 2023 news release) and 50 meters below DV23-268 that intersected 381 g/t Ag over 29.34 meters (see Sept. 11, 2023 news release). Wolf Vein mineralization has consistent, high-grade silver mineralization within a wide multi phase vein breccia within a northeast-southwest oriented epithermal vein system. The mineralization and alteration encountered at the Wolf Vein system is becoming wider in the southwest step-outs and the dip of the system is steepening at depth.

Drill hole DV23-379 intersected silver mineralization 25 meters above DV22-320 and was planned infill between DV22-320 and DV23-368; this hole did not deviate as much as other holes typically do and thus intersected the Wolf Vein closer to DV23-320 than planned.

Initial holes at Wolf during the 2023 drill program tested between the widely spaced holes completed the previous season and successfully intersected the vein structure both within and peripheral to the southwest plunge of the high-grade silver mineralization. Drilling at Wolf during the 2023 program consisted of infill and testing for extensions to the high-grade silver mineralization.

Drill holes DV23-366, 367 and 370 are located on the northeast extension of the Wolf structure and encountered strong potassic alteration and narrow vein stockwork with anomalous lead and zinc associated with the extension of the Wolf structure.

Drill holes DV23-364 and 366 tested the limits outside of the wider and higher-grade silver shoot and encountered the Wolf structure with minor veining and strong alteration.

Figure 2. Wolf Vein Longitudinal section with plunge of high-grade silver mineralization and DV23-375 step-out,
assays received in this release shown in bold white

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_003full.jpg

Figure 3. Drill hole DV23-375 (743.00m to 768.25m) from the Wolf Vein hanging wall side; wide, multi-phase breccia vein style mineralization with argentiferous galena, argentite and native silver

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_004full.jpg

Figure 4. Wolf Vein Plan View showing Drill Hole locations, A-A’ long section position, bold white this release.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_005full.jpg

Figure 3. Drill hole DV23-371 (141.75m) Moose Vein textures similar to Wolf Vein with silver sulfosalts and argentiferous galena in bands

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/186352_6395bf5d942c58b9_006full.jpg

Table 1. Complete Drill Hole Assays from Wolf Vein

Hole ID	From	To	Length* (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (ppm)	AgEq** (g/t)
DV23-379	719.89	738.10	18.21	247	0.40	0.73		287
Hanging Wall	719.89	728.67	8.78	430	0.39	0.46		459
including	724.30	724.80	0.5	1125	0.14	1.09		1170
Foot wall	729.17	738.10	8.93	78	0.44	1.03		131
DV23-376	784.50	857.85	73.35	10	0.50	0.52		45
stkwrk	784.50	845.12	60.62	5	0.28	0.57		35
including	825.73	826.75	1.02	72	7.13	1.36		344
Hanging Wall	845.12	852.60	7.48	34	2.47	1.02		149
Foot Wall	852.60	857.85	5.25	31	0.20	0.35		50
DV23-375	747.16	774.15	26.99	296	1.68	3.01		461
Hanging Wall	747.16	757.90	10.74	371	2.82	4.99		647
including	751.80	752.30	0.5	1475	10.65	12.00		2260
Foot Wall	765.75	774.15	8.4	328	1.38	1.96		445
DV23-370	52.67	53.17	0.5	102	0.41	0.06		117
and	168.21	168.71	0.5	48	0.48	1.20		108
DV23-369	478.80	480.00	1.2	9	1.31	1.10		91
and	512.63	513.13	0.5	21	0.14	4.85		209
DV23-367	68.75	69.30	0.55	119	0.12	0.08		126
and	132.15	132.75	0.6	2	0.06	0.08	1.83	158
DV23-366	107.85	108.35	0.5	67	1.30	0.05		110
and	140.00	140.77	0.77	281	0.48	0.08		299
and	207.75	208.55	0.8	32	1.67	0.40		99
DV23-364	263.61	289.33	25.72	7	0.37	0.22		27
including	268.30	268.81	0.51	33	1.93	0.82		123
including	269.70	270.56	0.86	21	3.46	0.87		161

Table 2. Complete Drill Hole Assays from Moose Vein

Hole ID	From	To	Length* (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (ppm)	AgEq** (g/t)
DV23-371	140.15	147.70	7.55	269	0.38	0.13		285
including	144.00	145.00	1	712	0.29	0.19		728
and	168.30	171.50	3.2	42	1.86	0.72		127
DV23-372	132.63	137.25	4.62	14	0.57	0.28		42
including	133.30	134.50	1.2	24	1.76	0.94		114
DV23-373	73.90	74.66	0.76	27	1.64	1.10		120
	90.00	94.08	4.08	19	0.56	0.41		52
DV23-374	30.60	32.35	1.75	39	0.93	1.17		112

* Intervals given are drill core length, true widths vary from 50 to 85% of core length interval. Assays reported are uncut.
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 3. Drill Hole Collars for 2023 Dolly Varden Wolf and Moose Area Drilling (this release)

Hole ID	Easting	Northing	Elev.	Azimuth	Dip	Length
Hole ID	UTM83 (m)	UTM83 (m)	(m)	Azimuth	Dip	(m)
DV23-364	467227	6173773	385	140	-60	474
DV23-366	467283	6173984	517	115	-45	225
DV23-367	467351	6173891	496	120	-45	250
DV23-369	467013	6173643	383	130	-61	675
DV23-370	467278	6173906	448	120	-45	213
DV23-371	467141	6174889	750	170	-55	181
DV23-372	467141	6174889	750	198	-60	240
DV23-373	467283	6174746	726	320	-45	151
DV23-374	467283	6174746	726	30	-45	133
DV23-375	466780	6173610	481	130	-56	846
DV23-376	466780	6173610	481	128	-60	888
DV23-379	466815	6173693	446	136	-56	849

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program for Dolly Varden on the Kitsault Valley Project.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

Forward-Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedarplus.ca. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/186352

Dolly Varden Silver Energy Junior Mining Precious Metals

Dolly Varden Silver Announces Closing of $10M Strategic Investment by Hecla

Post author By admin
Post date November 2, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 2, 2023) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that, further to its news release dated October 30, 2023, the Company completed the sale of 15,384,616 common shares of the Company to Hecla Canada Ltd. (“Hecla“) on November 1, 2023 at a price of $0.65 per Common Share for gross proceeds of $10 million (“Offering“). As a result of the Offering, Hecla has increased its shareholding in the Company to 15.7% from 10.6%, calculated on an undiluted basis.

No bonuses, finder’s fee or commissions were paid in connection with the Offering. The Common Shares issued pursuant to the Offering are subject to a four-month hold period from the closing of the Offering in addition to any other restrictions under applicable law.

In connection with the Offering, Dolly Varden has agreed with Hecla that the Company will not complete any further debt or equity financings for the remainder of 2023. Additionally, Dolly Varden has agreed that between January 1, 2024 and September 1, 2024, without the prior consent of Hecla, it will not complete any debt or equity financings other than equity financings for net proceeds to the Company of up to $15 million and provided that the issue price under such financing is greater than $0.65 per security. These restrictions do not capture customary exceptions such as the issuances of securities related to the Company’s equity based incentive compensation, the exercise of existing convertible securities and strategic transactions for non-cash consideration.

$6 million of the net proceeds from the Offering will be used for exploration expenditures, mineral resource expansion and related costs in the Kitsault Valley project, located in northwestern British Columbia, Canada, with the balanced to be used for working capital and G&A costs.

Hecla is considered a related party of the Company under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101“) as a result of its ownership of more than 10% of the currently issued and outstanding Common Shares. As a result, the issuance of Common Shares to Hecla pursuant to the Offerings was a related party transaction. The Company relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that participation in the Offering by Hecla does not exceed 25% of the fair market value of the Company’s market capitalization. The Company did not file a material change report in respect of the related party transaction 21 days prior to the closing of the Offering as the details of the participation of insiders of the Company had not been confirmed at that time. Further details can be found in the material change report that will be filed by the Company in due course.

About Dolly Varden Silver Corporation

Forward-Looking Statements

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 the Company’s actual results, performance or achievements, or developments 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.

Forward-looking statements in this news release include, among others, the intended use of proceeds from the Offering, the future release of a material change report and other statements that are not historical facts. These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the use of proceeds of the Offering, the adequacy of the Company’s current financial position, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the Company on desirable and permitted terms, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the risk that the Company may not be able to complete the Offering on the terms described herein or at all; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; and the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance. The risk factors identified herein are not intended to represent a complete list of factors that could affect the Company. For additional information on risks and uncertainties, see the Company’s annual information form dated April 11, 2023 for the year ended December 31, 2022 and the Company’s base-shelf prospectus dated April 25, 2023, both available on SEDAR+ at www.sedarplus.ca.

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. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

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.

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/185969

Junior Mining Lion One Metals Precious Metals

Lion One Drills 2.4 m of 90.76 g/t Gold in Zone 5 at Tuvatu

Post author By admin
Post date November 2, 2023

North Vancouver, British Columbia–(Newsfile Corp. – November 2, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report significant new high-grade gold results from ongoing infill and grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.

Assay results are presented here for infill and grade control drilling completed in the Zone 5 area of Tuvatu, which encompasses the near-surface portions of lodes UR1 to UR8, as well as URW2A and URW3. Grade control drilling is focused on the sections of lodes UR1, UR2, and URW3 that are scheduled for mining in early 2024, whereas infill drilling is focused on the parts of Zone 5 that are scheduled for mining in 2024 and 2025. Previous results from Zone 5 are available in the news releases dated June 14, 2023 and August 10, 2023.

Highlights of results (3.0 g/t cutoff):

90.76 g/t Au over 2.4 m (including 261.47 g/t Au over 0.6 m) (TUDDH-659, from 221.3 m depth)
18.56 g/t Au over 3.0 m (including 101.89 g/t Au over 0.3 m) (TGC-0081, from 92.1 m depth)
86.47 g/t Au over 0.6 m (TUDDH-672, from 141.1 m depth)
11.31 g/t Au over 3.9 m (including 65.29 g/t Au over 0.3 m) (TGC-0084, from 99.3 m depth)
46.78 g/t Au over 0.6 m (TUDDH-671, from 127.7 m depth)
38.75 g/t Au over 0.6 m (including 64.10 g/t Au over 0.3 m) (TGC-0107, from 136.2 m depth)
16.60 g/t Au over 1.2 m (including 24.37 g/t Au over 0.6 m) (TGC-0101, from 125.7 m depth)
31.56 g/t Au over 0.6 m (TUDDH-676, from 158.9 m depth)
51.76 g/t Au over 0.3 m (TUDDH-665, from 260.3 m depth)

Figure 1. Location of Zone 5 Infill and Grade Control Drillholes. Left image: Plan view of Tuvatu showing Zone 5 infill and grade control drillholes in relation to the mineralized lodes at Tuvatu. Drillholes are shown in black, mineralized lodes in pale grey, and underground developments in red. The yellow dashed square represents the area illustrated in the image on the right. Right image: Oblique view of Zone 5 infill and grade control drilling looking approximately northeast. Infill drilling was conducted from surface whereas grade control drilling was conducted from underground.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/186094_75460e161458d8e2_001full.jpg

Table 1. Highlights of composited grade control and infill drill results in the Zone 5 area. Composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at <3 g/t Au. For full results see Table 4 in the appendix.

Hole ID		From	To	Interval (m)	Au (g/t)
TUDDH-659		221.3	223.7	2.4	90.76
	including	221.3	222.5	1.2	176.28
	which includes	221.3	221.6	0.3	83.62
	and	221.6	222.2	0.6	261.47
	and	222.2	222.5	0.3	98.55
TGC-0081		92.1	95.1	3	18.56
	including	92.1	92.4	0.3	101.89
	and	92.4	92.7	0.3	35.02
TUDDH-672		141.1	141.7	0.6	86.47
TGC-0084		99.3	103.2	3.9	11.31
	including	99.6	99.9	0.3	28.93
	and	100.8	101.1	0.3	65.29
TUDDH-671		127.7	128.3	0.6	46.78
TGC-0107		136.2	136.8	0.6	38.75
	including	136.2	136.5	0.3	64.10
	and	136.5	136.8	0.3	13.40
TGC-0101		125.7	126.9	1.2	16.60
	including	125.7	126.3	0.6	24.37
TUDDH-676		158.9	159.5	0.6	31.56
TUDDH-676		252.2	253.1	0.9	18.59
TUDDH-676		243.2	245	1.8	9.05
	including	243.2	243.8	0.6	19.87
TUDDH-665		260.3	260.6	0.3	51.76
TUDDH-657		109.6	111.1	1.5	9.32
	including	109.6	109.9	0.3	35.89
	and	110.8	111.1	0.3	10.25
TUDDH-674		130.7	131.9	1.2	11.65
	including	130.7	131.3	0.6	20.18

Zone 5

The Zone 5 area of Tuvatu is located along the main decline and includes the principal north-south oriented lodes at Tuvatu (UR1, UR2, UR3), the principal northeast-southwest oriented lodes (UR4 to UR8), and several smaller lodes to the west of the main decline (URW2, URW2A, URW3). The lodes in Zone 5 are all steeply dipping structures. Zone 5 represents the upward extension of the Zone 500 feeder zone, where several lodes coalesce into a wide zone of very high-grade mineralization, such as 20.86 g/t Au over 75.9 m (TUG-141), 12.22 g/t Au over 54.90 m (TUDDH-601), and 17.52 g/t Au over 23.7 m (TUDDH-608). The Zone 5 lodes targeted in the current round of drilling are shown in Figure 2. The location of Zone 5 relative to Zone 500 is also shown in Figure 2.

Figure 2. Main Zone at Tuvatu. Left image: Plan view of Tuvatu identifying the lodes referenced in this report. Right image: Section view looking approximately northeast, showing the location of Zone 5 and Zone 500 relative to the lodes. Drillholes reported in this news release are shown in yellow for visibility.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/186094_75460e161458d8e2_002full.jpg

A total of 10 grade control and 10 infill drillholes are included in this release. The grade control drill program was conducted from underground and targeted the UR1, UR2, and URW3 lodes. The program was designed to provide a detailed understanding of the mineralization and geometry of these lodes both above and below the current underground developments. The grade control drillholes reported in this news release were drilled on 20 m centers. This will be followed up by additional grade control drilling to increase drill density to 10 m centers in advance of mining. The area targeted by these grade control drillholes is outside the current PEA mine plan but is being brought into the mine plan for 2024 based on drilling results. This part of Zone 5 is currently scheduled for mining in early 2024.

The infill drill program was conducted from surface and was designed to target the portions of lodes UR1 to UR7 located between the surface and the current underground developments. The purpose of the infill drill program is to increase knowledge and grade continuity in this area, and to further de-risk this portion of the deposit, which is scheduled for mining in 2024 and 2025. High-grade intercepts from the current round of Zone 5 grade control drilling are shown in Figure 3, while high-grade intercepts from the current round of Zone 5 infill drilling are shown in Figure 4. Examples of Zone 5 mineralization are shown in Figure 5.

Figure 3. Location of High-Grade Gold Intercepts from Zone 5 Grade Control Drilling, 3.0 g/t cutoff. High-grade gold intervals from Zone 5 grade control drillholes reported in this news release. The grade control drilling targeted sections of the UR1, UR2, and URW3 lodes above and below current underground developments, shown in grey. Composite intervals with grades between 3 and 10 g/t gold are shown in orange, grades between 10 and 30 g/t gold are shown in red, and grades over 30 g/t gold are shown in purple. Select high-grade intervals are identified. View is looking north.

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Figure 4. Location of High-Grade Gold Intercepts from Zone 5 Infill Drilling, 3.0 g/t cutoff. High-grade gold intervals from Zone 5 infill drillholes reported in this news release. Composite intervals with grades between 3 and 10 g/t gold are shown in orange, intervals with grades between 10 and 30 g/t gold are shown in red, and intervals over 30 g/t gold are shown in purple. Select high-grade intervals are identified. View is looking approximately NNE.

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Figure 5. Example Mineralization from Zone 5 Infill and Grade Control Drilling. Top left: Monzonite-hosted silica-pyrite-sphalerite-galena veins (TGC-0096, 87.5 m). Top middle: Chalcedonic quartz veins with coarse pyrite cross-cutting potassically altered monzonite (TUDDH-658, 69.5 m). Top right: Breccia zone with coarse-grained honey sphalerite and pyrite (TUDDH-657, 109.7 m). Bottom left: Stockwork-style veining with diffuse alteration halos and pyrite, sphalerite, and galena. (TGC-0081, 92.3 m). Bottom middle: Stockwork-style silica-pyrite-sphalerite-galena veins within altered monzonite (TUDDH-668, 127.2 m). Bottom right: Close-up view of coarse-grained pyrite within a zone of stockwork-style silica-pyrite veining. Specks of visible gold are highlighted in the yellow circles, width of image is approximately 3.5 cm (TUDDH-672, 141.3 m). Core diameter is 4.76 cm in each photo.

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About Tuvatu
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedarplus.ca.

Qualified Person
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 85% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

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

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

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

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

Appendix 1: Full Drill Results and Collar Information

Table 2. Composited results from grade control and infill drillholes in the Zone 5 area (grade >3.0 g/t Au)

Hole ID		From	To	Interval (m)	Au (g/t)
TGC-0081		92.1	95.1	3	18.56
	including	92.1	92.4	0.3	101.89
	and	92.4	92.7	0.3	35.02
TGC-0084		99.3	103.2	3.9	11.31
	including	99.6	99.9	0.3	28.93
	and	100.8	101.1	0.3	65.29
TGC-0086		82.3	84.1	1.8	3.98
TGC-0088		75.7	76.9	1.2	5.87
TGC-0093		99	99.9	0.9	4.65
TGC-0096		87.4	88	0.6	13.31
TGC-0098		104.8	105.1	0.3	5.19
TGC-0098		107.8	108.4	0.6	6.29
TGC-0098		111.4	111.7	0.3	6.18
TGC-0101		125.7	126.9	1.2	16.6
	including	125.7	126.3	0.6	24.37
TGC-0107		136.2	136.8	0.6	38.75
	including	136.2	136.5	0.3	64.1
	and	136.5	136.8	0.3	13.4
TGC-0107		138	139.2	3211.2	5.21
TUDDH-657		109.6	111.1	1.5	9.32
	including	109.6	109.9	0.3	35.89
	and	110.8	111.1	0.3	10.25
TUDDH-658		62.5	62.8	0.3	6.85
TUDDH-658		69.4	69.7	0.3	20.06
TUDDH-658		83.2	83.5	0.3	3.82
TUDDH-658		96.4	96.7	0.3	3.08
TUDDH-659		122.6	122.9	0.3	3.82
TUDDH-659		124.7	125	0.3	5.41
TUDDH-659		221.3	223.7	2.4	90.76
	including	221.3	222.5	1.2	176.28
	which includes	221.3	221.6	0.3	83.62
	and	221.6	222.2	0.6	261.47
	and	222.2	222.5	0.3	98.55
TUDDH-659		225.5	225.8	0.3	25.35
TUDDH-659		228.2	228.5	0.3	5.95
TUDDH-659		268.9	269.2	0.3	5.96
TUDDH-660		28.9	29.5	0.6	6.39
TUDDH-660		150.4	151	0.6	8.57
TUDDH-665		152.3	152.6	0.3	3.05
TUDDH-665		204.2	204.5	0.3	25.99
TUDDH-665		260.3	260.6	0.3	51.76
TUDDH-668		112.6	112.9	0.3	3.71
TUDDH-668		123.1	123.4	0.3	3.54
TUDDH-668		123.7	124	0.3	3.91
TUDDH-668		125.2	127.3	2.1	3.99
	including	126.7	127.3	0.6	10.25
TUDDH-668		138.1	138.4	0.3	5.28
TUDDH-671		127.7	128.3	0.6	46.78
TUDDH-671		143.6	144.2	0.6	6.83
TUDDH-671		242	242.3	0.3	6.53
TUDDH-672		141.1	141.7	0.6	86.47
TUDDH-672		149.5	149.8	0.3	4.15
TUDDH-674		130.7	131.9	1.2	11.65
	including	130.7	131.3	0.6	20.18
TUDDH-676		126.5	127.4	0.9	5.05
TUDDH-676		158.9	159.5	0.6	31.56
TUDDH-676		243.2	245	1.8	9.05
	including	243.2	243.8	0.6	19.87
TUDDH-676		252.2	253.1	0.9	18.59
TUDDH-676		254.6	254.9	0.3	3.33
TUDDH-676		256.1	257.6	1.5	6.02
	including	256.1	256.7	0.6	9.24
	and	257.3	257.6	0.3	10.46

Table 3. Collar coordinates for grade control and infill drillholes reported in this release. Coordinates are in Fiji map grid.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Depth
TGC-0081	1876384	3920627	129	95.0	1.2	107.1
TGC-0084	1876384	3920626	128	94.2	-13.1	121.6
TGC-0086	1876383	3920626	130	105.6	20.2	126.6
TGC-0088	1876384	3920626	129	99.2	10.5	121.3
TGC-0093	1876383	3920627	129	72.1	11.4	121.0
TGC-0096	1876383	3920627	129	86.4	11.3	115.4
TGC-0098	1876384	3920627	127	88.3	-28.3	131.6
TGC-0101	1876383	3920627	127	89.1	-41.1	196.9
TGC-0106	1876384	3920626	127	96.3	-20.3	130.1
TGC-0107	1876383	3920628	127	60.4	-38.2	176.2
TUDDH-657	1876497	3920546	296	288.8	-60.1	161.6
TUDDH-658	1876496	3920546	296	299.6	-40.2	122.2
TUDDH-659	1876556	3920388	352	284.3	-63.0	270.0
TUDDH-660	1876477	3920295	402	328.2	-61.5	156.1
TUDDH-665	1876475	3920296	402	325.3	-59.5	293.0
TUDDH-668	1876496	3920546	296	283.0	-69.2	170.0
TUDDH-671	1876475	3920296	402	326.2	-56.3	270.3
TUDDH-672	1876496	3920546	296	273.6	-74.1	180.0
TUDDH-674	1876496	3920546	296	300.4	-70.6	170.0
TUDDH-676	1876476	3920296	402	332.7	-57.2	287.6

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Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Announces New Strategic Partner and Non-Brokered Private Placement of $3.75 Million to Fully Fund Development Through 2025

Post author By admin
Post date November 2, 2023

Vancouver, British Columbia–(Newsfile Corp. – November 2, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce a non-brokered private placement (the “Private Placement“), for aggregate gross proceeds of $3,750,000. In connection with Private Placement, the Company will issue the following securities (the “Offered Securities“):

(i) 37,500,000 units of the Company (“Units“) at a price of $0.10 per Unit. Each Unit consists of one common share (each, a “Common Share“) and one common share purchase warrant (each whole warrant, a “Warrant“); and

(ii) Each Warrant will entitle the holder thereof to purchase one Common Share (a “Warrant Share“) at an exercise price of $0.13 per Warrant Share for thirty-six (36) months from the date of closing.

Fully Funded Through 2025

The net proceeds from the Private Placement will be used to continue to advance the Moss Gold Project through development of a new resource model and a new mineral resource estimation (“MRE“); in addition to continuing the engineering and metallurgical studies being done on various leach methodologies (including heap leach) and ultimately factoring this new information into a preliminary economic assessment (“PEA“). With 80,000 meters of drilling completed and $48 million spent directly in the ground defining the current MRE; Goldshore is well positioned to achieve meaningful project milestones over the next 24 months with minimal cash expenditures and within the net proceeds and current cash balances of the Company.

Strategic Partnership

The Company announces that it has engaged with a strategic natural resources private capital group (the “Strategic Advisor“) participating, in aggregate, in the Private Placement for $3,000,000 or 30,000,000 Units, with a long-term financial commitment to unlocking the value of the Moss Gold Project and delivering increased return to all stakeholders.

Board Changes

The Company also announces that Michael Michaud has stepped down from the Board as an appointee of Wesdome Gold Mines Ltd. (“Wesdome“). Wesdome has advised that it does not intend to nominate a replacement at this time. Kyle Hickey will be appointed to the Goldshore Board of Directors upon closing of the Private Placement. Mr. Hickey has been a professional advisor to boards of directors, executive management teams, and private and public capital on a wide range of capital structure solutions including equity, debt, and hybrid financial instruments, as well as merger and acquisition transactions.

President and CEO Brett Richards stated: “We welcome this partnership with our new strategic shareholders, who are committed to advancing the project through its next stages of development. On behalf of the Goldshore directors, we would like to thank Mike for his tenure on the Board, as his technical and commercial approach has helped guide the Company since inception. We would also like to welcome Kyle to the Goldshore board. Kyle has extensive experience in the commodity and resource capital markets, financing assets through all stages of development from resource definition to construction and project finance, and long-term operating capital structures. This financing and partnership represents a new phase for Goldshore and is key to unlocking long-term value and driving success.”

PEA and Resource Update

As a result of the new financial and strategic commitment in Goldshore, the Company is reviewing the current PEA in an effort to rescope and optimize the Moss Gold Project under multiple operational and economic parameters. To that end, the Company has engaged APEX Geoscience to prepare a new resource model and a new MRE. The Company has also engaged the expertise of Kappes Cassiday & Associates, leaders in heap leach engineering and technology, to conduct detailed metallurgical test work to determine the efficacy of heap leaching the lower grade material contained in the Moss Gold deposit. Once the results from these activities are received, the Company will determine its next course of development.

Vice President, Exploration, Pete Flindell: “We welcome our new strategic partners, as this commitment allows us to recalibrate the scope of the future project we want to take to feasibility study. We have a significant portion of high-grade mineralization in the shear zones (3.35M oz Au or 55% of the current mineral resource) with an average head grade of 1.84 g/t Au. This creates the opportunity for a hybrid process with a small flotation, regrind and carbon in leach plant for the high-grade mineralization, and a large heap leach operation for the low-grade material.”

Additional Financing Details

Eventus Capital Corp. has been appointed as a finder in connection with the Private Placement. The Company may pay a finder’s fee of 6% in either cash or in Units of the gross proceeds received by the Company from the Private Placement. The securities issued pursuant to the Private Placement will be subject to a four-month and one day hold period under applicable securities laws in Canada. Closing of the Financing is expected to occur on or about November 14, 2023 and is subject to approval by the TSX Venture Exchange.

Qualified Person

Mr. Flindell, PGeo, MAusIMM, MAIG, Vice-President, Exploration, of the Company, and a qualified person under National Instrument 43-101, has approved the scientific and technical information contained in this news release.

About Goldshore
Goldshore is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario. The Company is well-financed and supported by an industry-leading management group, board of directors, and advisory board. Goldshore is well positioned to advance the Moss Gold Project through the next stages of exploration and development.

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.

P. +1 604 288 4416 M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THE OFFERING IN QUESTION HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND THE SECURITIES SOLD IN SUCH OFFERING MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.

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

Cautionary Note Regarding Forward-Looking Statements

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 the Company’s actual results, performance or achievements, or developments 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.

Forward-Looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Gold Project, the release of an updated mineral resource estimate and preliminary economic assessment, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S.

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Category: Precious Metals

EMX Royalty Announces Third Quarter 2023 Results

3 Take-Aways from Dolly Varden Silver’s (DV.V) latest drill results

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$1.95 Over Spot Silver Krugs. Order Now!

$$$ Mining Bonanza: Dolly Varden Silver Strikes 461 G/T Silver Eq Jackpot!

Gold Demand Trends Q3 2023

Q3 gold demand firmly above longer-term average

Central banks gold buying maintained a historic pace but fell short of the Q3’22 record. Jewellery demand softened slightly in the face of high gold prices, while the investment picture was mixed.

Gold demand in Q3: weaker y/y but healthy compared with its 10-year average

Highlights

Gold supply and demand

Central banks bought 77 tonnes of gold in September, 337 tonnes in Q3 – WGC’s Gopaul

(Kitco News) – September was another banner month for gold purchases by the world’s central banks, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council.

Dolly Varden Silver Intersects 461 g/t AgEq(1) over 26.99m, incl. 2,260 g/t AgEq(1) over 0.5m in 81 Meter Step-Out at Wolf

Dolly Varden Silver Announces Closing of $10M Strategic Investment by Hecla

Lion One Drills 2.4 m of 90.76 g/t Gold in Zone 5 at Tuvatu

Goldshore Announces New Strategic Partner and Non-Brokered Private Placement of $3.75 Million to Fully Fund Development Through 2025

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Q3 gold demand firmly above longer-term average

Central banks gold buying maintained a historic pace but fell short of the Q3’22 record. Jewellery demand softened slightly in the face of high gold prices, while the investment picture was mixed.

Gold demand in Q3: weaker y/y but healthy compared with its 10-year average

Highlights

Gold supply and demand

(Kitco News) – September was another banner month for gold purchases by the world’s central banks, according to Krishan Gopaul, Senior Analyst, EMEA at the World Gold Council.

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