VANCOUVER, BC / ACCESSWIRE / October 3, 2023 / Blackwolf Copper and Gold Ltd. (“Blackwolf“, or the “Company“) (TSXV:BWCG),(OTC PINK:BWCGF) is pleased to announce that it has completed its initial drilling program targeting the Swann Zone on the Harry Property, recently acquired as part of the Optimum Ventures transaction. Seven drill holes were completed from two drill pads for a total of 1,740 meters of drilling, with each hole encountering significant mineralization. The sixth drill hole encountered coarse visible gold, including an approximately 10cm long streak at roughly 140 meters depth. This drill hole was approximately 250 meters from a 2021 diamond drill hole completed by Optimum Ventures at the Swann Zone which encountered 15.64 meters of 1437 g/t Silver Equivalent* (3.1 g/t Au, 433.4 g/t Ag, 0.60% Cu, 7.17% pb and 8.74% Zn) beginning at 8.75 meters depth. The Harry Property is located in the Golden Triangle, northwest of Stewart BC; it has road access and is situated between the past-producing Scottie Gold Mine and the historic Premier Gold Project, currently in re-development. Assays are pending and initial results are expected in the coming weeks.
The Swann Zone is a northwest trending structural corridor, typified by multiple, overlapping phases of quartz and sulphide veins. The sixth drill hole encountered coarse, visible gold in one of these vein phases. Based on previous surface sampling and limited drilling by Optimum Ventures, these different vein phases can host significant gold, silver and/or base metal-rich mineralization that can include pyrite, galena, sphalerite, tetrahedrite and other sulphosalt minerals. These multiphase, structurally complex and evolved metallogenic systems have similarities toother high-grade gold-silver deposits in the Golden Triangle such as Brucejack and Premier.
Figure 1. Harry Property, Regional Geology and significant deposits/mines.
Blackwolf’s CEO Morgan Lekstrom states, “The presence and quantity of visible gold in the drill core at the Swann Zone is promising. We eagerly await assay results from the Swann Zone, where drilling has expanded the strike length by an impressive 250 meters and remains open for expansion in all directions.”
*Silver Equivalent values were calculated by Optimum using Au USD/oz $1,977.40, Ag USD/oz $25.82, Cu USD/lb $4.72, Pb USD/lb $1.12, Zn USD/lb $2.05. All values are reported in USD and do not consider metal recoveries (see Optimum press release of April 20, 2022).
QA/QC and Qualified Person Analytical work for the Harry Project drill core samples will be completed by two analytical laboratories: MSA Labs of Langley, BC, and Bureau Veritas of Vancouver, BC, both of whom are certified analytical service providers.
At MSA Labs, samples will be prepared using procedure PRP-910 (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FAS-111 (30g fire assay with AAS finish) for gold and IMS-230 (1.0g, 4-acid digestion and ICP-MS analysis, 48 elements). Any samples containing >10g/t Au will be reanalyzed using method FAS-415 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn will be reanalyzed using method ICF-6 (0.2g, 4-acid digest and ore grade ICP-AES analysis). Samples containing >1000 g/t Ag will be reanalyzed using method FAS-418 (30g fire assay with AAS finish) and samples containing >20% Pb will be reanalyzed using method STI-8Pb (volumetric titration).
At Bureau Veritas, samples will be prepared using PRP70-250 (dry, crush to 70% passing 2mm, riffle split off 250g, pulverize split to better than 85% passing 75 microns) and analyzed by method FA-430 (30g fire assay with AAS finish) for gold and MA-200 (0.25, multi-acid digestion and ICP-ES/MS analysis, 45 elements). Any samples containing >10g/t Au will be reanalyzed using method FA530 (30g Fire Assay with gravimetric finish). Samples containing >100 ppm Ag and/or >1% Cu, Pb, & Zn will be reanalyzed using method MA-370 (1.0g, 4-acid digestion and ore grade ICP-AES analysis). Samples containing >1000 g/t Ag will be reanalyzed using method FA-530 (30g fire assay with AAS finish) and samples containing >20% Pb will be reanalyzed using method GC817. Samples with visible gold will be subject to method FS-632, a screen metallics analysis with duplicate minus fractions analyzed, and 30g fire assay for gold.
The 2023 Drilling Program at the Harry Property was completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream. The Qualified Person has reviewed the data and detected no significant QA/QC issues.
Andrew Hamilton, P.Geo., Consultant to the Company, a Qualified Person under NI 43-101, has reviewed and approved the scientific and technical content of this release.
Investor Awareness and Marketing Agreement Blackwolf has retained i2i Marketing Group LLC (“i2i”) to provide ongoing marketing services including online content distribution and advertising. i2i will work to facilitate investor awareness about the Company and its exploration assets. i2i has been paid USD $250,000 to develop required content and for advertising for the two months or until such funds last. After exhaustion of the initial funds the budget may be adjusted monthly based on market conditions and Company requirements. The Company will not issue any securities to i2i in consideration for the marketing services. i2i does not have any prior relationship with the Company and the Company and i2i deal at arm’s length. i2i is based out of Odessa, Florida.
About Blackwolf Copper & Gold Ltd. Blackwolf’s founding vision is to be an industry leader in transparency, inclusion and innovation. Guided by our Vision and through collaboration with local and Indigenous communities and stakeholders, Blackwolf builds shareholder value through our technical expertise in mineral exploration, engineering and permitting. The Company holds a 100% interest in the high-grade Niblack copper-gold-zinc-silver VMS project, located adjacent to tidewater in southeast Alaska as well as six Hyder Area gold-silver and base metal properties in southeast Alaska and northwest British Columbia in the Golden Triangle, including the Cantoo and Harry properties. For more information on Blackwolf, please visit the Company’s website at www.blackwolfcopperandgold.com.
On behalf of the Board of Directors of Blackwolf Copper & Gold Ltd.
“Morgan Lekstrom” CEO and Director
For more information, contact:
Morgan Lekstrom 250-574-7350 (Mobile) 604-343-2997 (Office) MLL@bwcg.ca
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.
Cautionary Statement Regarding Forward-Looking Information This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “should”, “would” or “occur”. This information and these statements, referred to herein as “forward‐looking statements”, are not historical facts, are made as of the date of this news release and include without limitation, statements relating to the properties located in the Golden Triangle area and the Company’s future objectives and plans.Forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market volatility; the state of the financial markets for the Company’s securities; fluctuations in commodity prices and changes in the Company’s business plans.In making the forward-looking statements in this news release, the Company has applied several material assumptions that the Company believes are reasonable, including without limitation, that the Company will continue with its stated business objectives and its ability to raise additional capital to proceed. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or 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 statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. The Company seeks safe harbor.
For more information on the Company, investors should review the Company’s continuous disclosure filings that are available at www.sedarplus.ca.
Vancouver, British Columbia–(Newsfile Corp. – October 2, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to provide an update for EMX’s Hardshell royalty property, which is part of South32 Limited’s (“South32”) Hermosa Project in southeast Arizona. Recent drill results from the Peake prospect, which is partially covered by the Hardshell royalty, include the best intercept to date in hole HDS-813 reported as 139 meters (1302.7-1441.7 m) averaging 1.88% copper, 0.51% lead, 0.34% zinc, and 52 g/t silver, with a subinterval of 58.2 meters averaging 3.1% copper, 0.6% lead, 0.24% zinc, 74g/t silver and 0.015% molybdenum (true width not reported)1. EMX retains a 2% net smelter return (“NSR”) royalty on Hardshell that is not capped nor subject to buy down.
South32’s Hermosa Project is comprised of the a) Taylor polymetallic (Zn-Pb-Ag) development project adjacent to the north of Hardshell with carbonate replacement deposit (“CRD”) mineralization that projects towards EMX’s royalty footprint, b) the Peake Cu-Pb-Zn-Ag skarn prospect, which as currently outlined is mostly covered by EMX’s royalty ground, and c) the Clark manganese manto deposit to the east of the royalty footprint.
In addition to the encouraging drill results at Peake, other recent advances reported by South32 include the designation of Hermosa as the first mining project given FAST-41 status by the US Federal Permitting Improvement Steering Council to facilitate the potential to supply designated critical minerals (i.e., zinc and manganese), and an updated JORC mineral resource estimate for Taylor to support ongoing feasibility work. Although Taylor (and Clark) occur outside of EMX’s royalty property boundary, the Hermosa Project’s overall prospectivity is attracting capitalized exploration of US$23 million to test priority targets, including further drilling at Peake and other prospects2.
EMX’s Hardshell royalty was organically generated by the Company’s wholly-owned subsidiary Bronco Creek Exploration Inc. (“BCE”). BCE recognized the alteration and mineralization zoning patterns within the district, and staked prospective open ground. Hardshell was optioned in 2015 for a 2% NSR retained royalty interest. The Hermosa Project, including Hardshell, was acquired by South32 in 2018. Since then, South32 has steadily advanced Hermosa, which includes the step-out exploration drilling that continues to delineate mineralization at Peake. The recognition of mineralization at Peake highlights the discovery optionality of EMX’s Hardshell royalty property.
Discussion of Drill Results. South32’s drilling at Peake is delineating a series of stacked horizons that have a general north-westerly dip of 30 degrees and host disseminated to semi-massive sulphide mineralization. According to South32 “the upper and lower extents of the horizons tend to have polymetallic mineralisation with the central component dominated by copper sulphides, predominantly chalcopyrite. Mineralisation within the stacked profile is approximately 130 m thick, for an approximate 450 m strike and 300 m width.”
The Peake prospect is currently characterized by 17 diamond drill holes, with intercepts from the most recent four holes summarized in Table 1, and the previous 13 holes reported in EMX’s news release dated June 21, 2022. The recent intercepts in Table 1 have been reported at a 0.2% copper cutoff by South32, reflecting the early-stage nature of exploration and evaluation of the Peake prospect.
Intercepts reported by South32 at a 0.2% Cu cutoff, as summarized by EMX. True widths not reported. CuEq (%) = Cu% + 0.3965*Zn% + 0.2331*Pb% + 0.0068*Ag g/t. Average payable metallurgical recovery assumptions are 90% for Zn, 91% for Pb, 81% for Ag and 80% for Cu. Metals pricing assumptions are South32’s long-term consensus prices as at the April 2023 quarter. See South32 news release dated July 24, 2023.
Figure 1. Peake drilling and mineralized domain with EMX Hardshell royalty boundary as well as Taylor & Clark mineralized domains. Figure modified from figure 5 of South32 news release dated July 24, 2023.
Figure 2. Cross section looking east (2000 m wide) showing South32’s Peake drilling and mineralized domains as well as Taylor and Clark mineralized domains (see Figure 1 for A-A’ cross section line). Figure modified from figure 6 of South32 news release dated July 24, 2023.
Hermosa Project and Hardshell Royalty Property Overview. South32’s Hermosa Project, located in the Patagonia mining district of southeastern Arizona, includes CRD sulfide (i.e., Taylor) and oxide manto (i.e., Clark) deposits (which are not covered by EMX’s Hardshell royalty), as well as the Peake skarn prospect (partially covered by EMX’s Hardshell royalty). EMX’s Hardshell 2% NSR royalty property consists of 16 unpatented federal lode mining claims. South32 has stated that it (refer to FY 2023 Financial Results and Outlook and July 24, 2023 news release) is continuing to follow up on Peake’s exploration potential, which is open in several directions.
The ongoing delineation of the Peake prospect by South32 represents the potential to create significant value for the Company’s Hardshell royalty property. EMX looks forward to South32’s continued exploration success at Hardshell, as well as from the greater Hermosa Project.
Comments on Adjacent and Nearby Projects. The adjacent and nearby projects, which include the Taylor and Clark deposits, provide geological context for the Peake prospect, which is partially covered by EMX’s Hardshell royalty claim block. However, this is not necessarily indicative that the Hardshell royalty claim block represents similar styles or tonnages of mineralization as the Taylor deposit, nor a similar style of mineralization as the Clark deposit.
Qualified Person. Michael P. Sheehan, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
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 June 30, 2023 (the “MD&A”), and themost recently filed Annual Information Form (“AIF”) for the year ended December 31, 2022, 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.
1 See South32 news release dated July 24, 2023. 2 See South32 “Financial Results and Outlook Year Ended 30 June 2023” dated August 24, 2023.
Vancouver, British Columbia–(Newsfile Corp. – September 28, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to update the market with respect to results from the Company’s summer exploration program at the Moss Gold Project in Northwest Ontario, Canada (the “Moss Gold Project“).
Highlights:
Goldshore field crews have identified five unique gold mineralization trends including two polymetallic Au-Cu trends across the Moss Gold Project through a combination of ionic leach soil sampling and property wide field mapping with a combined strike of over 35 kilometers. Recent rock sample results include:
Moss Trend – 9.59 g/t Au and 60.6 g/t Ag plus 5.0 g/t Au, 96.2 g/t Ag, and 0.98% Cu from samples in diorite-hosted shears along strike from the current Mineral Resource
24.9 g/t Au and 9.99g/t Ag from samples of strongly altered dacite 200m south of the Moss Main zone, representing a new parallel zone.
Kawa Trend – 33.7 g/t Au, 0.64% Zn and 75.3ppm Mo from sheared diorite/volcanic contacts within a new 6.5 kilometer long belt.
Hamlin Trend – has been expanded to become an 8 kilometer long polymetallic Au-Ag-Cu-Mo belt with values including 0.73g/t Au, 0.14% Cu, 7.6 ppm Biand 7.1 ppm Te.
Coldstream Trend – has been widened to 800 meters through the discovery of parallel structures assaying 1.07 g/t Au and 0.98% Zn.
9.79 g/t Au from mafic-hosted carbonate shear veins at the “Benton” prospect, east of the East Coldstream deposit.
Vanguard Trend – 3.97% Cu, 1.73g/t Au and 19.1 g/t Ag plus 2.94 g/t Au in a 9 kilometer long belt of polymetallic VMS Cu-Zn-Au-Ag mineralization that is now found to be 120 meters wide through discovery of additional lenses.
President and CEO Brett Richards stated: “We have previously stated our confidence to the market that the Moss Project of c.183Mt containing an inferred resource of 6M oz Au at 1.02g/t (with 55% of the deposit hosting a shear domain at 1.84 g/t)1 could be the start to uncovering multiple deposits of gold mineralization, and polymetallic mineralization on our land package. The targets that we have identified and now sampled need to be drill tested to prove their voracity, and to provide a clearer picture on how best to prioritize the many targets we have previously highlighted to the market. The 30km trend of mineralization at Moss confirms the exciting potential of identifying and growing a large, multi-generational mining camp in the Shebandowan Greenstone belt.”
Field Program Update
Goldshore embarked on a property wide field reconnaissance program in June 2022 – in the background to drilling – exploring the numerous unexplained geophysical anomalies and under explored gold and base metal showings. This program accelerated over the last several months. The field crews have compiled a systematic interpretation of the project geology, structure, alteration, and mineralization across the Project. Through this investigation and in combination with a substantial ionic soil leach program, the historic gold showings and newly discovered mineralization have resolved to be part of five distinct mineralized trends, including two polymetallic trends.
Figure 1: Selective results from the ongoing Moss Gold Project field program
The Moss Trend has been confirmed over an 8-kilometer strike containing the existing resource. The mineralization is dominantly hosted in anastomosing shears through an extensive altered diorite package. This zone is consistent with a belt of magnetic low bodies (altered intrusions) adjacent to folded magnetic highs (magnetic-bearing wall rocks) that present a belt with a high competency and redox contrast. Recent work has discovered elevated copper and silver mineralization towards the southwestern extents with recent rock samples returning values including 9.59 g/t Au and 60.6 g/t Ag,5.0 g/t Au plus 96.2 g/t Ag, and 0.98% Cu. Samples of strongly altered dacite 200m south of the Moss Main zone returned assays of 24.9 g/t Au and 9.99g/t Ag, representing a new parallel zone. The field results confirm the interpretation from the step out and deep drilling at the Moss Gold Project that the mineralized corridor is at least 1,000 meters wide.
The Kawa Trend lies approximately 2 kilometers south of, and parallel to, the Moss Trend over a 6.5-kilometer strike length with a confirmed width of 550m. It has a similar magnetic character as the Moss Trend and mapping has shown that mineralization is hosted within and along a sheared diorite/volcanic contact. We therefore expect the Kawa Trend to have the same potential as the Moss Trend. Partial assays results have been received for this area with values including 33.7g/t Au.
The known Hamlin Trend has been extended by 4 kilometers to the east to form an 8-kilometer-long belt of polymetallic Au-Ag-Cu-Mo mineralization with a confirmed width from 400 to 700 meters. Recent expanded ICP analysis indicate additional Bi and Te potential. Partial assays results have been received for this area with values including 0.73g/t Au, 0.14% Cu, 7.6 ppm Biand 7.1 ppm Te.
The Coldstream Trend containing the East Coldstream deposit has a confirmed strike of 3.5 kilometers hosted by late shearing within altered mafic volcanics and includes the historic North Coldstream Cu-Co mine. Recent exploration has discovered parallel mineralized shears within the northern intermediate volcanics expanding the width potential of the mineralization with rock sample assays returning values including 1.07 g/t Au and 0.98% Zn.
The Vanguard Trend has an established 9-kilometer strike length of polymetallic VMS Cu-Zn-Au-Ag mineralization linking with the Iris Lake Au prospect through a series of untested geophysical conductors. Results from the recent exploration have discovered additional parallel gold bearing shears north of the main Vanguard showing and ignored by much of the historical exploration giving it width of 120 meters. Partial assays results have been received for this area with values including 3.97% Cu, 1.73g/t Au and 19.1 g/t Ag and 2.94 g/t Au.
Additional poorly understood prospects defined by historical prospecting and known to host Cu-Au mineralization have been confirmed toward the east, west, and south of the East Coldstream deposit with assay results including 9.79 g/t Au. Future exploration programs will focus on better understanding this mineralization and its potential.
Pete Flindell, VP Exploration for Goldshore, said “Goldshore’s geologists have done an excellent job of mapping and sampling through challenging terrain to uncover the additional mineralized potential of the Moss Gold Project. This includes ionic leach soil sampling across muskeg to understand the character of concealed structural targets. These results speak to district-scale potential of the Moss Gold Project.”
Corporate Announcement
Heather Laxton has resigned from the Goldshore board of directors with immediate effect. Heather was a nominee of Wesdome Gold Mines Ltd. and served on the Board since the listing of the Company.
Qualified Persons
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 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. Wesdome is currently a large shareholder of Goldshore with an approximate 19% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Gold Project through the next stages of exploration and development.
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.
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.
For More Information – Please Contact:
Brett A. Richards President, Chief Executive Officer and Director Goldshore Resources Inc.
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.
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.
1 NI 43-101 Technical Report – Mineral Resource Estimate for the Moss Lake Project, Ontario, Canada, dated effective May 5, 2023.
Longtime readers of 321Gold know I am a giant fan of the Daily Sentiment Indicator put out by Jake Bernstein. The DSI is sending out important signals such as bonds, the dollar, gold, silver, the Euro, the Swiss Franc, British Pound, Yen and the Aussie Dollar. Basically when readings go below 10 you are near a major bottom. When they go above 90 you are near a major top.
As of September 27th close of trading the DSI for treasuries is 10, 93 for the dollar, 8 for gold, 8 for silver, 5 for the Swiss Franc, 7 for the Euro, 10 for the Yen, 9 for the Aussie dollar and 12 for the British pound. To show that it really doesn’t matter what commodity the DSI tracks, the turns it projects says that even boring Orange Juice at 93 is about to tumble.
So in short, the dollar is getting close to a top, gold, silver, bonds and most currencies are near a bottom and about to turn higher. When these moves take place, it will happen all at the same time. Including OJ taking a swan dive.
These numbers are not as extreme as they have been in the past and don’t suggest a turn will happen tomorrow but it will happen soon. That could be as much as a month from now.
There are two kinds of investment information, signal and noise. For some reason many gold bugs are fixated on manipulation and price suppression as being important. I cannot agree. All financial markets are manipulated by everyone involved all of the time. So a sincere belief in manipulation of gold and silver provides no information that would lead to a profitable trade. In other words, if everything is manipulated, and that is true, who cares? You can’t profit. It generates neither a buy signal nor a sell signal. It’s noise, not signal. The DSI on the other hand is the most valuable and consistent signal I know of. In simple terms, you can take it to the bank.
The markets I have identified above are going to reverse direction in the next month. You can write that down on a piece of paper and take it to your local bank and cash it.
For those who are not subscribers to the DSI it seems expensive. Because it is. It is aimed at serious commodity traders who can make all of the cost up in one trade. But if you contact Jake and whine that you can’t afford it, he might give you a break. That’s what I did.
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the final tranche of its non-brokered private placement financing (the “Offering”) of units (the ”Units”) for total gross proceeds of $1,212,778. The Company further announces that it has completed the 2,000 m, Phase II drill program at the flagship, 216 km2 Viogor-Zanik project (the “Project”) in eastern Bosnia and Herzegovina.
Highlights
In total, 17 diamond drill holes were completed during the 2023 Phase II campaign totalling approximately2,000m with a significant number of them macroscopically exhibiting sulphide mineralization. Twelve drill holes were completed at the polymetallic silver-lead-zinc Cumavici target while 5 holes were drilled at the Au-Cu, skarn-porphyry Brezani target (see Figures 1 and 2). All drillholes are at the ALS laboratory in Serbia with assays expected by the beginning of October;
Terra has raised $1,212,778 pursuant to the Offering announced on April 4th, 2023.
Terra Balcanica CEO, Dr. Aleksandar Mišković, commented: “The conclusion of exploration drillingperfectly coincided with the closing of the private placement financing. I am proud of the field efforts made by the entire team Terra Balcanica but equally thankful to all those who helped raise the funds needed to advance our key assets in Bosnia and Serbia. Having finalized an oversubscribed financing of over $1.2M in such a challenging macroeconomic environment is a positive signal and has allowed us to complete a robust, 17-hole 2,000-meterPhase II drill program and materially advance the flagship Viogor-Zanik project. The composite drill core samplesare now awaiting laboratory completionand an internal QA/QC check before being released as a part ofTerra’s steady news flow for months to come.”
Drilling Brezani Target Completed The 2023 diamond drilling at the Brezani target focussed on testing the coincident magnetic-conductivity anomaly at depth below the Au-skarn mineralisation observed on surface. Further shallow drillholes BRE23001-004 aimed to add scale to the initial 88 m at 0.61 g/t AuEq intercepted in drillhole BREDD002 (See Company’s news release dated 24th January 2023), all within a > 800 m NW/SE trending Au in soil anomaly.
Drillhole BREDD002: Continued from a depth of 215 m to 674 m in 2023 commencing in the same chlorite-sericite altered diorite which returned 0.26 g/t Au (214 – 215 m) in 2022 drilling. At a depth of 482.1 m a 9.8 m continuous zone of banded vein and sulphide cemented breccias with characteristics of both low and intermediate sulphidation epithermal deposits was intersected. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite. The centre of the structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments and wall rock hornfels. In the vein footwall the lithology changed to 118.4 m of chlorite-sericite altered diorite porphyry intrusive. Sinuous quartz-pyrite-molybdenite veins, quartz-magnetite, anhydrite-carbonate, pyrite-chlorite, and pyrrhotite-carbonate veining is present alongside disseminated pyrite-pyrrhotite.
Drillhole BRE23001: Located 102 m SW of the initial discovery hole at Brezani, which returned 0.61 g/t AuEq over 88 m from surface BRE23001 intercepted a similar package of calc-silicate mineralisation with a strong chlorite retrograde overprint. Intervals of coarse garnet-pyroxene skarn were also intercepted in contact with dioritic intrusives.
Figure 1. Geological map illustrating the 2022 and 2023 drillholes at the silver-dominated, polymetallic Cumavici Ridge target 12 km northwest from the Brezani target(click here to view image).
Drillhole BRE23002: Located 91 m west of BREDD002 intersected a new style of mineralization for the Brezani target. Commencing at 98 m depth a sulphide-calcite cemented contact breccia between altered diorite and silicic hornfels was encountered. The sulphide matrix was composed of pyrite-sphalerite-galena-pyrrhotite-chalcopyrite with individual sphalerite crystals up to 3 cm. The breccia was semi-continuous until 105.2m where it graded into patchy brecciation and intermediate sulphidation veining to 117.6 m. Detailed observations of BRE23001-004 will be completed and updates released in due course.
Figure 2. Geological map illustrating the 2022 and 2023 drillholes into the Brezani skarn-porphyry target. Note that the 2022 drillhole, BREDD002 was redrilled from 215 – 674 m during the 2023 drilling campaign.(click here to view image).
Final Tranche of Private Placement Financing Closed The Company issued an aggregate of 1,826,470 Units at a price of $0.085 per Unit for gross proceeds of $155,250 pursuant to the Offering announced on April 4th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until September 22nd, 2026. Finders’ fees in the amount of $3,570 were paid in the final tranche of the Offering.
In total, the Company has issued 14,267,967 units at a price of $0.085 for gross proceeds of $1,212,778. Terra used the net proceeds of the Offering for working capital and to finance the Phase II drilling of the two target zones in Bosnia and Herzegovina.
Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the fifth tranche of the Private Placement will be subject to a four (4) month hold period ending January 23rd, 2024.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.
About the Company Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.
ON BEHALF OF THE BOARD OF DIRECTORS
Terra Balcanica Resources Corp. “Aleksandar Mišković”
This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words“will”, “intends” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.
VANCOUVER, British Columbia, Sept. 25, 2023 (GLOBE NEWSWIRE) — West Red Lake Gold Mines Ltd.(“West Red Lake Gold” or “WRLG” or the “Company”) (TSXV:WRLG) (OTCQB: WRLGF) is pleased to announce the appointment of Harpreet Dhaliwal to the position of Chief Financial Officer effective November 15, 2023.
Shane Williams, President & Chief Executive Officer, commented, “On behalf of entire West Red Lake Gold team, I would like to welcome Harpreet to the organization, and we are delighted to have someone of Harpreet’s caliber join the team. Harpreet’s experience in the mining industry in the CFO role is well established, and she joins West Red Lake Gold at an exciting time in the Company’s stage of development.”
Harpreet Dhaliwal, CPA, CA, is a highly regarded and accomplished financial executive with 16 years of extensive experience in the resource sector. A graduate of The University of British Columbia, Ms. Dhaliwal commenced her career in the public accounting field before transitioning to the resource sector working with Uranium One Inc., American Bonanza Gold Corp., Endeavour Mining Corp., Fiore Management & Advisory Corp and Leagold Mining Corp.
Most recently, Ms. Dhaliwal served as the Chief Financial Officer at NexGen Energy Ltd. Ms. Dhaliwal was responsible for implementing controls across the organization which led to NexGen’s successful inaugural SOX compliance reporting. She successfully led the filing of the $500M Base Shelf Prospectus and the $250M At-the-Market Equity Program and ensured compliance on all listed exchanges including Toronto Stock Exchange, New York Stock Exchange and Australian Securities Exchange. She was also responsible for the implementation of an ERP system, maintaining the Company’s IT infrastructure, and working with the project teams on delivering effective budgeting, forecasting and management reporting.
At her previous role at Leagold Mining Corp as CFO, she was responsible for the design and implementation of financial and management reporting, treasury, and working with the operations and project teams on developing budgets and forecasts for multiple producing multi-jurisdictional mines. She was a valuable member of a team that successfully completed numerous mergers and acquisitions supported by debt and equity financings and led integrated lean and efficient finance teams.
The Company would like to thank current CFO & Corporate Secretary, Jasvir Kaloti for her continued dedication and contributions. Jasvir Kaloti will remain as the Corporate Secretary following the appointment of Harpreet Dhaliwal as CFO on November 15, 2023.
The Company further announces that it has entered into an agreement dated September 14, 2023 to issue 50,000 common shares (the “Debt Shares”) of the Company at a deemed price of $0.60 per Debt Share in settlement of $30,000 of amounts owing to an arm’s length creditor. The issuance of the Debt Shares is subject to the prior approval of the TSX Venture Exchange.
ABOUT WEST RED LAKE GOLD MINES LTD.
West Red Lake Gold Mines Ltd. is a mineral exploration company that is publicly traded and focused on advancing and developing its flagship Madsen Gold Mine and the associated 47 km2 highly prospective land package in the Red Lake district of Ontario. The highly productive Red Lake Gold District of Northwest Ontario, Canada has yielded over 30 million ounces of gold from high-grade zones and hosts some of the world’s richest gold deposits. WRLG also holds the wholly owned Rowan Property in Red Lake, with an expansive property position covering 31 km2 including three past producing gold mines – Rowan, Mount Jamie, and Red Summit.
2023-09-12-NR_WRLG_Project_Location_Map
ON BEHALF OF WEST RED LAKE GOLD MINES LTD.
“Shane Williams”
Shane Williams President & Chief Executive Officer
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.
Certain statements contained in this news release constitute “forward-looking statements”, including, among others, statements relating to expectations regarding the appointment of Harpreet Dhaliwal, and the issuance of the Debt Shares in settlement of certain accounts payable. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
vancouver, British Columbia –News Direct– West Red Lake Gold Mines Ltd.
September 19, 2023 – TheNewswire – Global Stocks News – West Red Lake Gold Mines (TSXV:WRLG) (OTC:WRLGF) CEO Shane Williams has sent part three of seven communications to WRLG shareholders.
CEO Message Part 3: Existing Infrastructure at West Red Lake Gold Mines
By Shane Williams
Thank you for your interest in West Red Lake Gold Mines (WRLG.V). This is the Part 3 of seven messages I am sending to WRLG shareholders. Today I want to discuss the existing infrastructure at the Madsen mine.
In mining circles, “existing infrastructure” can mean a logging road, a plywood core-shack, a rusted ball mill or a capsized Porta-potty.
The West Red Lake Gold Mines’ situation is a bit different. We inherited a modern, fully permitted, virtually-unused mining facility which includes underground equipment, double ramp access, a 1,273-metre-deep shaft, expandable 800+ tonne per day mill, excess tailings capacity and a water treatment plant. [1.}
The mill achieves 95% gold recovery [2}. The tailings pond and water treatment are regularly inspected and pass with flying colours. Last month I was on site with the Ontario Minister of Mines – a former executive at Placer Dome. He is very supportive of the project.
It’s difficult to put an exact price tag (value) on the existing infrastructure. The mill itself cost approximately $100 million. With rampant inflation in construction, the replacement cost would be significantly higher. But the biggest benefit of the permitted existing infrastructure is the effect on production timelines.
The permitting process can take ten years.
We have challenges to overcome, but in my opinion, the modern, debt-free, permitted infrastructure has significantly de-risked this project.
Next in Part 4 of my message to shareholders, I will tell you about the resource expansion potential at Madsen.
Sincerely,
Shane Williams
We invite you to click here to learn more about our West Red Lake Gold Mines
The technical information presented in this news release has been reviewed and approved by Will Robinson, P.Geo., Vice President of Exploration for West Red Lake Gold and the Qualified Person for exploration at the West Red Lake Project, as defined by NI 43-101 “Standards of Disclosure for Mineral Projects”.
Certain statements contained in this news release constitute “forward-looking statements”. When used in this document, the words “anticipated”, “expect”, “estimated”, “forecast”, “planned”, and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold Mines Ltd. does not undertake any obligation to revise or update any forward- looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
References
SRK Consulting. (2021). Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada (West Red Lake Gold Mines, Ed.) [Review of Independent NI 43-101 Technical Report and Updated Mineral Resource Estimate for the PureGold Mine, Canada]. SRK Consulting. https://westredlakegold.com/wp-content/uploads/2023/07/NI43-101_Madsen_Report_Update_v20230619.pdf
Frank Giustra – who owns about 10% of WRLG was recently on stage at the Precious Metals Summit in Beaver Creek, Colorado.
“Never listen to what a central bank has to say,” Giustra stated on a panel hosted by The Northen Miner. “Watch what they do. And right now, they’re screaming, buy gold. They’re loading up. And it is my belief they’re loading up because there will be a monetary system reset that we don’t know what it looks like yet. But gold will play a role, otherwise they wouldn’t be loading up this way.”
VANCOUVER, BC / ACCESSWIRE / September 14, 2023 / Metallic Minerals Corp. (TSX.V:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to provide an update on drilling at the La Plata copper-silver-gold-PGE project. The first phase of the 2023 campaign is testing extensions of high-grade mineralization seen in 2022 drill hole LAP22-04, which intercepted 816 meters of continuous mineralization grading 0.41% copper equivalent (“Cu Eq”) with internal higher-grade zones. The hole ended in high-grade precious metal-rich mineralization grading 11.54% Cu Eq over 0.61 meters (5.42% Cu, 47.0 g/t Ag, 0.622 g/t Au, 5.016 g/t Pt and 5.393 g/t Pt).
Highlights
Over 2,000 meters of a planned 5,000-meter Phase 1 drill program designed to expand the existing resource have been completed.
Hole LAP23-05 was completed to a depth of 909 meters, while hole LAP23-06 is ongoing at a depth of approximately 1,150 meters. Both these 2023 drill holes have intersected altered porphyry mineralization with visible copper sulfide including chalcopyrite and bornite similar to that seen in LAP22-04 (see Figure 1-2).
Initial assay results are expected in the coming weeks and continuing into early 2024.
Results of the 2023 drilling have potential to expand the size of the current resource and increase the overall grade of the deposit with the inclusion of precious metals assays for gold, platinum and palladium in addition to copper and silver in the current resource.
Metallic Minerals has filed a National Instrument 43-101 technical report for the expanded resource estimate announced in July 2023.
The 2023 field campaign is being funded by a strategic equity investment announced in May whereby Newcrest Mining Limited acquired a 9.5% ownership position in Metallic Minerals with the goal of accelerating advancement of the La Plata project.
Scott Petsel, Metallic Minerals’ President, stated, “The team is excited about the progress and initial indications from our current drill program at La Plata. Last year’s exceptional hole LAP22-04 was a major discovery of higher-grade copper and precious metal-rich, porphyry-style, mineralization starting from surface. These first two drill holes are offset holes drilled above and below LAP22-04 to test extensions of mineralization away from that discovery hole to potentially expand the resource and test the scale of size of this higher-grade zone of mineralization. The results of this program are expected to form the basis of an updated resource estimate. This program will also assist in vectoring to the strongest parts of the mineralized system as we work to maximize the opportunity to advance this potential Tier 1 asset.”
The Allard deposit remains open to significant expansion within the resource area to the east, north and west and to depth, with the potential to add gold, platinum and palladium to the current copper and silver resource with the completion of additional exploration drilling. In addition, the larger porphyry system at the La Plata project, which covers an area of over 10 km2, remains underexplored with the potential for new discoveries of both additional copper porphyry centers, as well as high-grade epithermal silver and gold systems.
Upcoming Events
Precious Metals Summit Presentation
Metallic Minerals CEO, Greg Johnson, will be presenting live from the 2023 Precious Metals Summit in Beaver Creek, Colorado, on September 14th at 4:30 pm Mountain time. Click here to view the presentation.
Adelaide Capital Presentation
Metallic, as well as fellow Metallic Group members Stillwater Critical Minerals and Granite Creek Copper, will be presenting at the Wildfire Relief series hosted by Adelaide Capital on September 22nd at 3:30 ET. Click here to register.
Figure 1. Cross Section Through Allard Resource Area Showing New 2023 Drill Holes
Figure 2.Photograph from Hole LAP23-06, 480.0m to 489.0m – High Quartz-Sulfide Vein Density in Altered Syenite.
Corporate Update
Metallic Minerals announces that Susan Henderson has been appointed to the role of Corporate Secretary, effective immediately. Ms. Henderson has worked in expanding roles with the Company since 2016, most recently in the role of Business Manager. Ms. Henderson replaces Alicia Milne who has stepped down. Ms. Milne will continue as a consultant to the Company.
Greg Johnson, CEO of Metallic Minerals, stated, “We very much appreciate Alicia’s exceptional work and dedication as Corporate Secretary over the past years and we wish her continued success in her new venture. Susan has been an integral part of the Metallic Group since its inception and invaluable in enabling our growth and expansion. We are very pleased to further expand her role to that of Corporate Secretary.”
NI 43-101 Technical Report
Further to the news release dated July 31, 2023, Metallic Minerals has filed a National Instrument 43-101 technical report, entitled, “Technical Report on the Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Southwestern Colorado” with an effective date of July 12th, 2023. The report is available on the Company’s profile at www.sedar.com and on our website at www.metallic-minerals.com
About Metallic Minerals
Metallic Minerals Corp. is a leading exploration and development stage company focused on copper, silver, gold, and other critical minerals in the La Plata mining district in Colorado, and silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources, and advancing projects toward development.
At the Company’s La Plata project in southwestern Colorado, the new 2023 NI 43-101 mineral resource estimate identifies a significant porphyry copper-silver resource containing 1.21 Blbs copper and 17.6 Moz of silver1. The 2022 expansion drilling provided the basis for the updated resource, including the longest and highest-grade interval ever encountered at La Plata and one of the top intersections for any North American copper project in the past several years. In May 2023, the Company announced a 9.5% strategic investment by Newcrest Mining Limited to accelerate the advancement of the Company’s La Plata project. In the 2023 Fraser Institute’s Annual Survey of Mining Companies, Colorado ranked 5th globally for investment attractiveness and 2nd in the USA.
In Canada’s Yukon Territory, Metallic Minerals has consolidated the second-largest land position in the historic high-grade Keno Hill silver district, directly adjacent to Hecla Mining Company’s (“Hecla”) operations, with more than 300 Moz of high-grade silver in past production and current M&I resources. Hecla, the largest primary silver producer in the USA and third largest in the world, is anticipating full production at its Keno Hill operations by the end of 2023. An inaugural mineral resource estimate on the project is expected in Q4 2023, with an expansion drill program slated to commence in September.
The Company is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators, including Parker Schnabel of Little Flake Mining from the Discovery Channel television show, Gold Rush.
All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. The Company is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.
Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure not pertaining to the resource estimate contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.
Forward-Looking Statements
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, statements about expected results of operations, royalties, cash flows, financial position and future dividends as well as financial position, prospects, and future plans and objectives of the Company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, unsuccessful operations, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration, development of mines and mining operations is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Metallic Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
North Vancouver, British Columbia–(Newsfile Corp. – September 14, 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 grade control drilling at its 100% owned Tuvatu Alkaline Gold Project in Fiji.
Assay results are presented here for grade control drilling completed in the Zone 2 area of Tuvatu, focusing primarily on the URW1, URA1 and Murau lode systems. Mining of the URA1 lode and the URW1 lode system is ongoing and grade control drilling is being conducted in advance of future mining in these areas (see news releases dated April 3, 2023 and May 18, 2023). The results reported here represent material that is scheduled to be mined in Q4 2023 and throughout 2024.
Lion One Chairman and CEO Walter Berukoff commented: “The results from our grade control drill program continue to exceed expectations. The program is continuously returning very high-grade material with excellent mining widths. As we increase our drill density at Tuvatu we continue to identify very high-grade zones upon which to focus and prioritize our mining plan, and which will help us to add additional tonnage to our growing stockpile of high-grade material as we ramp up to our first gold production in Q4 2023”.
Highlights of new Zone 2 grade control drilling (3 g/t Au cutoff):
19.78 g/t Au over 6.0 m (including 31.52 g/t Au over 3.0 m) (TGC-0071, from 114.0 m depth)
14.83 g/t Au over 6.0 m (including 25.16 g/t Au over 2.4 m) (TGC-0055, from 90.9 m depth)
18.08 g/t Au over 3.6 m (including 32.74 g/t Au over 1.5 m) (TGC-0073, from 90.0 m depth)
25.25 g/t Au over 2.4 m (including 149.63 g/t Au over 0.3 m) (TGC-0078, from 95.2 m depth)
45.89 g/t Au over 0.9 m (TGC-0080, from 23.4 m depth)
8.00 g/t Au over 4.8 m (including 21.05 g/t Au over 0.9 m) (TGC-0080, from 47.4 m depth)
8.52 g/t Au over 3.3 m (including 11.16 g/t Au over 1.8 m) (TGC-0053, from 13.8 m depth)
17.73 g/t Au over 1.5 m (including 20.98 g/t Au over 0.9 m) (TGC-0053, from 56.4 m depth)
14.13 g/t Au over 1.8 m (including 18.64 g/t Au over 1.2 m) (TGC-0062, from 67.5 m depth)
Note: Grade control drillhole composites are calculated using a 3 g/t Au cutoff with maximum internal dilution intervals of 1 m at < 3 g/t Au.
Figure 1. Location of Zone 2 Grade Control Drillholes. Left image: Plan view of Tuvatu showing Zone 2 grade control drillholes in relation to the mineralized lodes. Drillholes are shown in black, mineralized lodes in pale grey, and underground developments in red. The yellow dashed circle represents the Zone 2 area of the deposit.
Table 1. Highlights of composited grade control drill results in the Zone 2 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 2 in the appendix. For full results using a 0.5 g/t cutoff see Table 3 in the appendix.
Hole ID
From
To
Interval (m)
Au (g/t)
TGC-0053
13.8
17.1
3.3
8.52
including
16.2
17.1
0.9
15.89
TGC-0053
56.4
57.9
1.5
17.73
including
56.4
57.3
0.9
20.98
and
57.3
57.9
0.6
12.86
TGC-0055
87
87.3
0.3
17.86
TGC-0055
90.9
96.9
6
14.83
including
90.9
92.7
1.8
12.22
which includes
90.9
91.5
0.6
10.93
and
91.5
91.8
0.3
23.82
and
91.8
92.7
0.9
9.22
and also including
94.5
96.9
2.4
25.16
which includes
94.5
95.4
0.9
35.76
and
95.4
96
0.6
10.87
and
96
96.3
0.3
30.26
and
96.3
96.9
0.6
20.98
TGC-0057
89.4
91.2
1.8
9.22
including
89.4
89.7
0.3
19.23
TGC-0057
113.7
115.2
1.5
10.84
including
114.3
115.2
0.9
15.86
TGC-0060
76.1
76.4
0.3
25.43
TGC-0062
67.5
69.3
1.8
14.13
including
68.1
68.7
0.6
15.29
and
68.7
69.3
0.6
21.99
TGC-0064
182.9
183.5
0.6
33.08
including
182.9
183.2
0.3
58.29
TGC-0066
163.5
163.8
0.3
12.85
TGC-0070
71.2
71.8
0.6
25.89
TGC-0071
114
120
6
19.78
including
114
114.3
0.3
30.17
and
114.3
114.9
0.6
8.32
and
115.5
115.8
0.3
10.68
and
115.8
116.4
0.6
9.96
and
117
120
3
31.52
which includes
117
117.6
0.6
33.78
and
117.6
118.5
0.9
20.88
and
118.5
119.4
0.9
42.75
and
119.4
120
0.6
28.35
TGC-0073
79.8
81.3
1.5
7.91
including
79.8
80.4
0.6
10.8
and
80.4
80.7
0.3
10.95
TGC-0073
87.9
88.2
0.3
10.85
TGC-0073
90
93.6
3.6
18.08
including
90
90.3
0.3
8.41
and
90.3
90.6
0.3
21.79
and
90.9
92.4
1.5
32.74
which includes
90.9
91.2
0.3
65.52
and
91.2
91.5
0.3
38.81
and
91.5
91.8
0.3
43.67
and
91.8
92.4
0.6
7.86
TGC-0074
80.8
81.4
0.6
41.5
including
80.8
81.1
0.3
35.63
and
81.1
81.4
0.3
47.38
TGC-0074
118.9
120.1
1.2
11.65
including
118.9
119.2
0.3
10.48
and
119.2
119.5
0.3
14.96
and
119.5
119.8
0.3
10.75
and
119.8
120.1
0.3
10.41
TGC-0078
14.5
14.8
0.3
18.52
TGC-0078
91.9
92.5
0.6
20.13
TGC-0078
95.2
97.6
2.4
25.25
including
95.2
95.5
0.3
149.63
and
96.1
97.6
1.5
9.28
which includes
96.1
97
0.9
11.85
TGC-0080
21
22.2
1.2
11.67
and
21.6
21.9
0.3
35.67
TGC-0080
23.4
24.3
0.9
45.89
TGC-0080
47.4
52.2
4.8
8
including
48.3
48.6
0.3
18.03
and
48.6
48.9
0.3
17.95
and
49.8
50.7
0.9
21.05
which includes
49.8
50.1
0.3
42.72
and
50.1
50.4
0.3
15.08
TGC-0082
15.5
16.7
1.2
16.96
including
16.1
16.7
0.6
29.06
which includes
16.1
16.4
0.3
34.23
and
16.4
16.7
0.3
23.89
TGC-0083
19.7
20
0.3
10.79
TGC-0083
43.7
45.2
0.6
11.32
including
43.7
44
0.3
10.41
and
44.9
45.2
0.3
12.23
TGC-0083
56.9
57.2
0.3
10.7
TGC-0083
65
65.6
0.6
25.12
including
65
65.3
0.3
18.58
and
65.3
65.6
0.3
31.67
Zone 2
The Zone 2 area of Tuvatu is located in the northwest part of the system along the western decline. It is the first part of the deposit scheduled for mining and encompasses a number of distinct lode systems, including the URW1, URA1, and Murau lode systems.
The URW1 lode system was the primary target for the current round of drilling. It consists predominantly of narrow, high-grade to locally bonanza-grade vein arrays and vein swarms that strike approximately N-S and dip sub-vertically to steeply east. Current modelling suggests that there are multiple separate lodes within the URW1 lode system. The first two of these lodes, URW1a and URW1b, are currently being mined. As reported on July 13, 2023 and July 27, 2023, mineralization in these lodes is both higher grade and more laterally extensive than initially anticipated. Grade control drilling in the URW1 area is targeting the up-dip and down-dip extensions of these lodes, 20 m to 40 m above and below the current mine drives. The URW1 lode system has a current strike length of approximately 300 m in the N-S direction, and a vertical extent of approximately 300 m.
Similarly, the URA1 lode is a narrow, steeply dipping, high-grade to locally bonanza-grade vein system. It was discovered during the development of the western decline and is intersected by the decline at approximately 75 m from the portal entrance. It trends approximately northeast-southwest and dips steeply to the southeast. It has a current strike length of approximately 100 m, and a vertical extent of approximately 120 m.
Figure 2. URA1 Lode and URW1 Lode System. Plan view (top) and view looking north (bottom) of the URA1 lode and the URW1 lode system in relation to the grade control holes reported here. Mining is ongoing in the URA1 lode (shown in purple) and the URW1a and URW1b lodes (shown in light brown). Additional lodes included in the URW1 lode system are shown in blue. Grade control drilling is targeting the up-dip and down-dip extensions of these lodes, focusing primarily on the URW1a and URW1b lodes, as evident in the bottom image.
The Murau lode system consists of a series of stacked relatively flat lying lodes that strike approximately east-west and dip moderately to the south. Mining is scheduled to begin on the upper part of the Murau lode system in Q4 2023. The portion of the Murau lode system that is currently targeted for mining consists of a 110 m strike length in the east-west direction, a vertical extent of 55 m, and a down-dip extension of 100 m.
Figure 3. Murau Lode System. Plan view (left) and view looking east (right) of the Murau lode system in relation to the grade control drillholes reported here. Mining on the upper part of the Murau lode system is scheduled to start in Q4 2023. The stacked nature of the Murau lodes and their moderate dip to the south is visible in the right-hand image.
Figure 4. Location of High-Grade Intercepts from Zone 2 Grade Control Drilling, 3.0 g/t Au cutoff. Plan view (top) and view looking north (bottom) of the URA1 lode, the URW1 lode system, and the Murau lode system in relation to the grade control drillholes reported here, with high-grade intercepts highlighted. Downhole composite intervals with grades between 3 and 10 g/t Au are shown in orange, intervals with grades between 10 and 30 g/t Au are shown in red, and intervals over 30 g/t Au are shown in purple. Select high-grade intervals are identified. Grades shown are gold grades in g/t. Underground developments are shown in pale transparent grey to increase visibility of the mineralized intervals.
Grade control drilling is being conducted from underground as well as from near the mine portal and is targeting near surface mineralization scheduled for mining in the next four to sixteen months. It is targeting 5-10 m centers and is designed to provide a detailed understanding of the geometry and mineralization of lode arrays in advance of underground development. Results from the grade control drill program will be used to help optimize mine development and mineral extraction in these areas. The Zone 2 grade control drill program is ongoing. Examples of mineralization observed in the Zone 2 drillholes reported here are shown in Figure 5.
A total of 83 grade control drillholes have been completed to date in the Zone 2 and Zone 5 areas at Tuvatu, including 24 grade control drillholes included in this news release. Previous grade control drill results are available in the news releases dated April 25, 2023 and June 14, 2023.
Figure 5. Example Mineralization from Zone 2 Grade Control Drilling. Left: Monzonite-hosted chalcedonic silica veins with abundant coarse grained honey sphalerite rimmed by fine-grained sooty pyrite (TGC-0064, 182.9-183.2 m) Width of core is 4.76 cm. Top center: Banded silica-roscoelite-pyrite vein with visible gold (TGC-0076, 89.7-90.0 m) Width of image is approximately 2 cm. Top right: Fracture face coated with silica, sphalerite, pyrite, and multiple grains of visible gold (TGC-0073, 91.5-91.8 m). Core diameter is 4.76 cm. Bottom right: Monzonite-hosted quartz veinlet with visible gold (TGC-0073, 90.3-90.6 m). Width of image is approximately 3 cm. Bottom center: Monzonite-hosted quartz veinlet with multiple flecks of visible gold (TGC-0083, 56.9-57.2 m). Width of image is approximately 3 cm.
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
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 drillholes in the Zone 2 area, 3.0 g/t Au cutoff
Hole ID
From
To
Interval (m)
Au (g/t)
TGC-0053
13.8
17.1
3.3
8.52
TGC-0053
including
13.8
14.7
0.9
6.47
TGC-0053
and
15.3
16.2
0.9
6.43
TGC-0053
and
16.2
17.1
0.9
15.89
TGC-0053
56.4
57.9
1.5
17.73
TGC-0053
including
56.4
57.3
0.9
20.98
TGC-0053
and
57.3
57.9
0.6
12.86
TGC-0053
61.8
62.4
0.6
3.61
TGC-0053
67.5
71.7
4.2
3.87
TGC-0053
including
69
69.6
0.6
5.35
TGC-0053
and
69.6
70.2
0.6
5.89
TGC-0053
and
70.2
70.8
0.6
5.51
TGC-0053
and
71.4
71.7
0.3
5.07
TGC-0053
72.3
75.6
3.3
5.11
TGC-0053
including
72.3
72.6
0.3
5.39
TGC-0053
and
74.4
74.7
0.3
8.54
TGC-0053
and
74.7
75
0.3
7.24
TGC-0053
and
75
75.6
0.6
8.69
TGC-0054
82.8
83.4
0.6
4.92
TGC-0054
90.3
90.6
0.3
7.71
TGC-0055
13.2
13.8
0.6
8.21
TGC-0055
87
87.3
0.3
17.86
TGC-0055
90.9
96.9
6
14.83
TGC-0055
including
90.9
92.7
1.8
12.22
TGC-0055
which includes
90.9
91.5
0.6
10.93
TGC-0055
and
91.5
91.8
0.3
23.82
TGC-0055
and
91.8
92.7
0.9
9.22
TGC-0055
and also including
93.3
93.9
0.6
8.52
TGC-0055
and also including
94.5
96.9
2.4
25.16
TGC-0055
which includes
94.5
95.4
0.9
35.76
TGC-0055
and
95.4
96
0.6
10.87
TGC-0055
and
96
96.3
0.3
30.26
TGC-0055
and
96.3
96.9
0.6
20.98
TGC-0055
108
108.6
0.6
6.17
TGC-0057
11.4
12.6
1.2
3.4
TGC-0057
85.8
86.1
0.3
7.28
TGC-0057
89.4
91.2
1.8
9.22
TGC-0057
including
89.4
89.7
0.3
19.23
TGC-0057
and
89.7
90
0.3
5.34
TGC-0057
and
90
90.6
0.6
7.4
TGC-0057
and
90.6
91.2
0.6
7.98
TGC-0057
113.7
115.2
1.5
10.84
TGC-0057
including
114.3
115.2
0.9
15.86
TGC-0057
116.7
118.8
2.1
6.23
TGC-0057
including
116.7
117.6
0.9
8.19
TGC-0057
and
117.9
118.8
0.9
5.42
TGC-0060
76.1
76.4
0.3
25.43
TGC-0062
67.5
69.3
1.8
14.13
TGC-0062
including
67.5
68.1
0.6
5.11
TGC-0062
and
68.1
68.7
0.6
15.29
TGC-0062
and
68.7
69.3
0.6
21.99
TGC-0062
70.5
71.1
0.6
3.47
TGC-0064
182.9
183.5
0.6
33.08
TGC-0064
including
182.9
183.2
0.3
58.29
TGC-0064
and
183.2
183.5
0.3
7.88
TGC-0064
185.3
185.6
0.3
8.07
TGC-0066
163.5
164.1
0.6
8.62
TGC-0066
including
163.5
163.8
0.3
12.85
TGC-0070
71.2
71.8
0.6
25.89
TGC-0070
78.4
79
0.6
4.4
TGC-0070
82.9
83.5
0.6
3.94
TGC-0071
95.4
96
0.6
8.24
TGC-0071
114
120
6
19.78
TGC-0071
including
114
114.3
0.3
30.17
TGC-0071
and
114.3
114.9
0.6
8.32
TGC-0071
and
115.5
115.8
0.3
10.68
TGC-0071
and
115.8
116.4
0.6
9.96
TGC-0071
and
117
120
3
31.52
TGC-0071
which includes
117
117.6
0.6
33.78
TGC-0071
and
117.6
118.5
0.9
20.88
TGC-0071
and
118.5
119.4
0.9
42.75
TGC-0071
and
119.4
120
0.6
28.35
TGC-0071
157.2
157.8
0.6
5.57
TGC-0072
74.4
75
0.6
4.46
TGC-0073
79.8
81.3
1.5
7.91
TGC-0073
including
79.8
80.4
0.6
10.8
TGC-0073
and
80.4
80.7
0.3
10.95
TGC-0073
87.9
88.2
0.3
10.85
TGC-0073
90
93.6
3.6
18.08
TGC-0073
including
90
90.3
0.3
8.41
TGC-0073
and
90.3
90.6
0.3
21.79
TGC-0073
and
90.9
92.4
1.5
32.74
TGC-0073
which includes
90.9
91.2
0.3
65.52
TGC-0073
and
91.2
91.5
0.3
38.81
TGC-0073
and
91.5
91.8
0.3
43.67
TGC-0073
and
91.8
92.4
0.6
7.86
TGC-0073
and also including
93
93.6
0.6
6.49
TGC-0073
106.8
107.1
0.3
3.02
TGC-0074
13
13.3
0.3
4.43
TGC-0074
80.8
81.4
0.6
41.5
TGC-0074
including
80.8
81.1
0.3
35.63
TGC-0074
and
81.1
81.4
0.3
47.38
TGC-0074
118.9
120.1
1.2
11.65
TGC-0074
including
118.9
119.2
0.3
10.48
TGC-0074
and
119.2
119.5
0.3
14.96
TGC-0074
and
119.5
119.8
0.3
10.75
TGC-0074
and
119.8
120.1
0.3
10.41
TGC-0076
89.7
90
0.3
7.23
TGC-0076
100.2
101.1
0.9
6.35
TGC-0076
including
100.2
100.5
0.3
6.35
TGC-0076
and
100.5
100.8
0.3
7.25
TGC-0076
and
100.8
101.1
0.3
5.47
TGC-0076
121.8
122.1
0.3
5.04
TGC-0078
14.5
14.8
0.3
18.52
TGC-0078
16.6
17.2
0.6
4.42
TGC-0078
87.7
88.3
0.6
3.93
TGC-0078
91.9
92.5
0.6
20.13
TGC-0078
95.2
97.6
2.4
25.25
TGC-0078
including
95.2
95.5
0.3
149.63
TGC-0078
and
96.1
97.6
1.5
9.28
TGC-0078
which includes
96.1
97
0.9
11.85
TGC-0078
and
97
97.6
0.6
5.43
TGC-0079
102.9
103.5
0.6
5.02
TGC-0080
21
22.2
1.2
11.67
TGC-0080
including
21
21.3
0.3
7.26
TGC-0080
and
21.6
21.9
0.3
35.67
TGC-0080
23.4
24.3
0.9
45.89
TGC-0080
47.4
52.2
4.8
8
TGC-0080
including
47.4
47.7
0.3
5.46
TGC-0080
and
47.7
48
0.3
8.1
TGC-0080
and
48.3
48.6
0.3
18.03
TGC-0080
and
48.6
48.9
0.3
17.95
TGC-0080
and
49.8
50.7
0.9
21.05
TGC-0080
which includes
49.8
50.1
0.3
42.72
TGC-0080
and
50.1
50.4
0.3
15.08
TGC-0080
and
50.4
50.7
0.3
5.35
TGC-0080
53.4
54.3
0.9
9.88
TGC-0082
15.5
16.7
1.2
16.96
TGC-0082
including
16.1
16.7
0.6
29.06
TGC-0082
which includes
16.1
16.4
0.3
34.23
TGC-0082
and
16.4
16.7
0.3
23.89
TGC-0082
46.7
47.6
0.9
3.01
TGC-0082
83
83.3
0.3
3.61
TGC-0083
19.7
20
0.3
10.79
TGC-0083
42.5
45.2
2.7
4.95
TGC-0083
including
42.5
43.1
0.6
5.91
TGC-0083
and
43.7
44
0.3
10.41
TGC-0083
and
44.9
45.2
0.3
12.23
TGC-0083
48.5
49.4
0.9
3.9
TGC-0083
52.4
52.7
0.3
3.42
TGC-0083
55.4
55.7
0.3
4.53
TGC-0083
56.9
57.5
0.6
7.24
TGC-0083
including
56.9
57.2
0.3
10.7
TGC-0083
65
65.6
0.6
25.12
TGC-0083
including
65
65.3
0.3
18.58
TGC-0083
and
65.3
65.6
0.3
31.67
TGC-0083
110.6
110.9
0.3
9.08
Table 3. Composited results from grade control drillholes in the Zone 2 area, 0.5 g/t Au cutoff
Hole ID
From
To
Interval (m)
Au (g/t)
TGC-0053
13.8
17.1
3.3
8.52
TGC-0053
including
13.8
14.7
0.9
6.47
TGC-0053
and
15.3
16.2
0.9
6.43
TGC-0053
and
16.2
17.1
0.9
15.89
TGC-0053
21
22.2
1.2
0.62
TGC-0053
55.2
57.9
2.7
9.96
TGC-0053
including
56.4
57.3
0.9
20.98
TGC-0053
and
57.3
57.9
0.6
12.86
TGC-0053
60.3
63.3
3
1.1
TGC-0053
66.9
76.8
9.9
3.71
TGC-0053
including
69
69.6
0.6
5.35
TGC-0053
and
69.6
70.2
0.6
5.89
TGC-0053
and
70.2
70.8
0.6
5.51
TGC-0053
and
71.4
71.7
0.3
5.07
TGC-0053
and
72.3
72.6
0.3
5.39
TGC-0053
and
74.4
74.7
0.3
8.54
TGC-0053
and
74.7
75
0.3
7.24
TGC-0053
and
75
75.6
0.6
8.69
TGC-0053
93.9
96
2.1
1.07
TGC-0053
99
100.2
1.2
1.36
TGC-0054
82.8
83.4
0.6
4.92
TGC-0054
90
90.6
0.6
4.95
TGC-0054
including
90.3
90.6
0.3
7.71
TGC-0054
93.9
94.5
0.6
1.98
TGC-0054
96.3
97.8
1.5
1.17
TGC-0055
13.2
13.8
0.6
8.21
TGC-0055
87
87.3
0.3
17.86
TGC-0055
90.9
96.9
6
14.83
TGC-0055
including
90.9
92.7
1.8
12.22
TGC-0055
which includes
90.9
91.5
0.6
10.93
TGC-0055
and
91.5
91.8
0.3
23.82
TGC-0055
and
91.8
92.7
0.9
9.22
TGC-0055
and also including
93.3
93.9
0.6
8.52
TGC-0055
and also including
94.5
96.9
2.4
25.16
TGC-0055
which includes
94.5
95.4
0.9
35.76
TGC-0055
and
95.4
96
0.6
10.87
TGC-0055
and
96
96.3
0.3
30.26
TGC-0055
and
96.3
96.9
0.6
20.98
TGC-0055
99
100.2
1.2
0.85
TGC-0055
108
108.6
0.6
6.17
TGC-0055
117.9
118.2
0.3
2.13
TGC-0057
11.4
12.6
1.2
3.4
TGC-0057
80.4
82.8
2.4
0.76
TGC-0057
85.8
86.4
0.6
4.25
TGC-0057
87.9
93
5.1
3.66
TGC-0057
including
89.4
91.2
1.8
9.22
TGC-0057
which includes
89.4
89.7
0.3
19.23
TGC-0057
and
89.7
90
0.3
5.34
TGC-0057
and
90
90.6
0.6
7.4
TGC-0057
and
90.6
91.2
0.6
7.98
TGC-0057
106.5
107.4
0.9
0.64
TGC-0057
113.7
118.8
5.1
6.05
TGC-0057
including
114.3
115.2
0.9
15.86
TGC-0057
and
116.7
117.6
0.9
8.19
TGC-0057
and
117.9
118.8
0.9
5.42
TGC-0060
52.4
53
0.6
0.74
TGC-0060
75.5
76.7
1.2
6.97
TGC-0060
including
76.1
76.4
0.3
25.43
TGC-0060
82.4
82.7
0.3
0.65
TGC-0062
67.5
73.8
6.3
4.98
TGC-0062
including
67.5
69.3
1.8
14.13
TGC-0062
which includes
67.5
68.1
0.6
5.11
TGC-0062
and
68.1
68.7
0.6
15.29
TGC-0062
and
68.7
69.3
0.6
21.99
TGC-0064
69
69.6
0.6
1.59
TGC-0064
145.7
146.6
0.9
0.54
TGC-0064
149.9
150.8
0.9
0.51
TGC-0064
167.9
168.8
0.9
2.77
TGC-0064
174.2
174.8
0.6
0.96
TGC-0064
182.9
183.5
0.6
33.08
TGC-0064
including
182.9
183.2
0.3
58.29
TGC-0064
and
183.2
183.5
0.3
7.88
TGC-0064
185.3
185.6
0.3
8.07
TGC-0066
163.5
164.1
0.6
8.62
TGC-0066
including
163.5
163.8
0.3
12.85
TGC-0068
88.9
89.5
0.6
0.92
TGC-0068
98.6
99.2
0.6
0.73
TGC-0068
120.5
121.4
0.9
1.11
TGC-0068
172.4
175.1
2.7
0.83
TGC-0068
186.7
189.4
2.7
0.76
TGC-0068
191.2
192.7
1.5
0.57
TGC-0069
88.4
89
0.6
1.73
TGC-0070
71.2
71.8
0.6
25.89
TGC-0070
73
75.4
2.4
1.03
TGC-0070
78.4
81.1
2.7
2.23
TGC-0070
82.3
84.4
2.1
1.54
TGC-0071
95.4
96
0.6
8.24
TGC-0071
114
120.9
6.9
17.54
TGC-0071
including
114
114.3
0.3
30.17
TGC-0071
and
114.3
114.9
0.6
8.32
TGC-0071
and
115.5
115.8
0.3
10.68
TGC-0071
and
115.8
116.4
0.6
9.96
TGC-0071
and
117
120
3
31.52
TGC-0071
which includes
117
117.6
0.6
33.78
TGC-0071
and
117.6
118.5
0.9
20.88
TGC-0071
and
118.5
119.4
0.9
42.75
TGC-0071
and
119.4
120
0.6
28.35
TGC-0071
155.4
159.6
4.2
2.12
TGC-0071
including
157.2
157.8
0.6
5.57
TGC-0071
160.8
161.4
0.6
2.72
TGC-0071
201.3
202.5
1.2
1.56
TGC-0072
59.7
60.3
0.6
0.84
TGC-0072
74.4
75
0.6
4.46
TGC-0072
81.9
82.5
0.6
0.79
TGC-0072
94.5
95.1
0.6
0.9
TGC-0073
12
12.6
0.6
0.91
TGC-0073
79.8
81.3
1.5
7.91
TGC-0073
including
79.8
80.4
0.6
10.8
TGC-0073
and
80.4
80.7
0.3
10.95
TGC-0073
87.3
94.2
6.9
10.39
TGC-0073
including
87.9
88.2
0.3
10.85
TGC-0073
and
90
90.3
0.3
8.41
TGC-0073
and
90.3
90.6
0.3
21.79
TGC-0073
and
90.9
92.4
1.5
32.74
TGC-0073
which includes
90.9
91.2
0.3
65.52
TGC-0073
and
91.2
91.5
0.3
38.81
TGC-0073
and
91.5
91.8
0.3
43.67
TGC-0073
and
91.8
92.4
0.6
7.86
TGC-0073
and also including
93
93.6
0.6
6.49
TGC-0073
106.2
107.1
0.9
2.32
TGC-0074
12.7
13.3
0.6
2.71
TGC-0074
80.5
81.4
0.9
28.01
TGC-0074
including
80.8
81.4
0.6
41.51
TGC-0074
which includes
80.8
81.1
0.3
35.63
TGC-0074
and
81.1
81.4
0.3
47.38
TGC-0074
92.5
92.8
0.3
0.9
TGC-0074
118.9
120.1
1.2
11.65
TGC-0074
including
118.9
119.2
0.3
10.48
TGC-0074
and
119.2
119.5
0.3
14.96
TGC-0074
and
119.5
119.8
0.3
10.75
TGC-0074
and
119.8
120.1
0.3
10.41
TGC-0075
13.2
14.4
1.2
0.61
TGC-0075
16.2
16.8
0.6
0.6
TGC-0075
27
27.3
0.3
0.53
TGC-0075
43.5
44.4
0.9
0.93
TGC-0076
77.1
78
0.9
0.98
TGC-0076
81
81.3
0.3
1.57
TGC-0076
89.7
90
0.3
7.23
TGC-0076
93.3
93.6
0.3
0.72
TGC-0076
99.3
101.7
2.4
3.59
TGC-0076
including
100.2
100.5
0.3
6.35
TGC-0076
and
100.5
100.8
0.3
7.25
TGC-0076
and
100.8
101.1
0.3
5.47
TGC-0076
121.8
122.1
0.3
5.04
TGC-0077
15
16.5
1.5
0.92
TGC-0077
19.8
20.1
0.3
0.83
TGC-0077
54
54.6
0.6
1.38
TGC-0077
64.2
65.4
1.2
2.53
TGC-0077
72.9
74.4
1.5
1.11
TGC-0078
14.2
14.8
0.6
10.17
TGC-0078
including
14.5
14.8
0.3
18.52
TGC-0078
16
17.2
1.2
3.61
TGC-0078
52
52.6
0.6
1.55
TGC-0078
87.7
89.5
1.8
2.53
TGC-0078
91.9
92.5
0.6
20.13
TGC-0078
95.2
98.2
3
20.44
TGC-0078
including
95.2
95.5
0.3
149.63
TGC-0078
and
96.1
97.6
1.5
9.28
TGC-0078
which includes
96.1
97
0.9
11.85
TGC-0078
and
97
97.6
0.6
5.43
TGC-0079
98.1
98.7
0.6
0.53
TGC-0079
102.9
103.5
0.6
5.02
TGC-0080
21
22.2
1.2
11.67
TGC-0080
including
21
21.3
0.3
7.26
TGC-0080
and
21.6
21.9
0.3
35.67
TGC-0080
23.4
24.3
0.9
45.89
TGC-0080
45.3
55.2
9.9
5.16
TGC-0080
including
47.4
47.7
0.3
5.46
TGC-0080
and
47.7
48
0.3
8.1
TGC-0080
and
48.3
48.6
0.3
18.03
TGC-0080
and
48.6
48.9
0.3
17.95
TGC-0080
and
49.8
50.7
0.9
21.05
TGC-0080
which includes
49.8
50.1
0.3
42.72
TGC-0080
and
50.1
50.4
0.3
15.08
TGC-0080
and
50.4
50.7
0.3
5.35
TGC-0080
and also including
53.4
54.3
0.9
9.88
TGC-0080
70.2
71.4
1.2
0.9
TGC-0080
77.4
80.1
2.7
0.88
TGC-0082
15.5
16.7
1.2
16.96
TGC-0082
including
16.1
16.7
0.6
29.06
TGC-0082
which includes
16.1
16.4
0.3
34.23
TGC-0082
and
16.4
16.7
0.3
23.89
TGC-0082
43.7
45.5
1.8
0.99
TGC-0082
46.7
48.5
1.8
2.2
TGC-0082
49.7
50.6
0.9
0.58
TGC-0082
57.5
58.7
1.2
0.9
TGC-0082
67.7
68.6
0.9
1
TGC-0082
83
83.3
0.3
3.61
TGC-0083
19.4
20.3
0.9
4.12
TGC-0083
including
19.7
20
0.3
10.79
TGC-0083
41
46.4
5.4
3.13
TGC-0083
including
42.5
43.1
0.6
5.91
TGC-0083
and
43.7
44
0.3
10.41
TGC-0083
and
44.9
45.2
0.3
12.23
TGC-0083
48.2
49.4
1.2
3.35
TGC-0083
52.4
52.7
0.3
3.42
TGC-0083
55.4
57.5
2.1
3.04
TGC-0083
56.9
57.2
0.3
10.7
TGC-0083
63.5
65.6
2.1
8.24
TGC-0083
including
65
65.6
0.6
25.13
TGC-0083
which includes
65
65.3
0.3
18.58
TGC-0083
and
65.3
65.6
0.3
31.67
TGC-0083
67.4
69.5
2.1
0.74
TGC-0083
110.6
110.9
0.3
9.08
Table 4. Collar coordinates for grade control holes reported in this release. Coordinates are in Fiji map grid.
