NORTH VANCOUVER, British Columbia, July 18, 2024 (GLOBE NEWSWIRE) — Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce that it has entered into an agreement with Eight Capital as lead agent (the “Agent”) and sole bookrunner in connection with a “best efforts” private placement of up to 20,271,000 units of the Company (the “Units”) at a price of $0.37 per Unit (the “Issue Price”) for aggregate gross proceeds of up to $7,500,270, pursuant to the listed issuer financing exemption available under National Instrument 45-106 – Prospectus Exemptions (the “Offering”), in each of the Provinces of Canada other than Quebec. Each Unit will consist of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.50 for a period of three years from the date of issuance.
The Company will make available an offering document relating to the Offering (the “Offering Document”) which will be accessible under the Company’s profile at www.sedarplus.ca and at https://liononemetals.com. Prospective investors in the Offering should read the Offering Document before making an investment decision.
The Offering is expected to close on or around July 26, 2024 (the “Closing Date”). Closing of the Offering is subject to certain customary conditions including receipt of all necessary approvals including satisfaction of listing conditions of the TSX Venture Exchange. The Company has granted the Agent an option to offer for sale up to an additional 15% of the Units, at the Issue Price, exercisable in whole or in part at any time for a period of up to 48 hours prior to the Closing Date. The Units issued pursuant to the Offering will not be subject to any hold periods pursuant to applicable Canadian securities laws.
The Company intends to use the net proceeds from the Offering for working capital and general corporate purposes.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any Shares in the United States. The securities to be sold in the Offering have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Lion One Metals Limited
Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors of Lion One Metals Limited “Walter Berukoff” Chairman and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
This news release contains forward‐looking statements and forward‐looking information within the meaning of applicable securities laws. All statements other than statements of historical fact may be forward‐looking statements or information. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. The forward‐looking statements and information are based on certain key expectations and assumptions made by management of the Company. Forward-looking statements made in this news release include statements regarding anticipated completion of the Offering and debt settlement, and the proposed use of proceeds of the Offering. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward‐looking statements and information since no assurance can be given that they will prove to be correct.
Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including, with respect to the Offering and debt settlement, the conditions of the financial markets, availability of financing, timeliness of completion of the Offering, and the timing of TSX Venture Exchange approval; and with respect to the use of proceeds, the sufficiency of the proceeds, the speculative nature of mineral exploration and development, fluctuating commodity prices, and competitive, as described in more detail in our recent securities filings available at www.sedarplus.ca, including the Offering Document. Accordingly, readers should not place undue reliance on the forward‐looking statements and information contained in this news release. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward‐looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward‐looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement.
VANCOUVER, BC / ACCESSWIRE / July 18, 2024 / Stillwater Critical Minerals Corp. (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G) (the “Company” or “Stillwater”) announces it has commenced 2024 field activities including a property-wide airborne electro-magnetic geophysical survey at its flagship Stillwater West Ni-PGE-Cu-Co + Au project in Montana.
The Company has engaged Expert Geophysics Ltd. for a combined time-domain electromagnetic (“EM”) survey using their TargetEM26 system along with a magneto-telluric survey using their MobileMTm system. The survey will utilize the newest technological advancements in airborne EM, building on the success of the first generation DIGHEM airborne EM survey flown over the project in 2000. The total survey will cover approximately 1,069 line-kilometers and provide higher-resolution and improved depth of investigation from the DIGHEM airborne EM survey, as well as VLF coverage. The survey has been designed in collaboration with Glencore plc via the Stillwater West technical committee to fine-tune priority conductive drill targets across the 12-kilometer main resource area, as well as to assist with prioritization and ranking of additional untested conductive targets across the broader 61-square-kilometer property.
Stillwater’s President and CEO, Michael Rowley, said “We are very pleased to kick off our field activities for the season at Stillwater West. This large-scale geophysical survey is part of a larger program that is expected to include an updated mineral resource estimate that will support the commencement of various studies relating to potential production scenarios. These objectives will be important milestones in preparation for continued resource expansion drilling across the nine-kilometer deposit area as well as in developing target areas. In addition, the Company is pursuing a number of other studies and initiatives with strategic partners such as Cornell University and various US Government agencies.”
Vice-President of Exploration, Dr. Danie Grobler, said, “Work has been on-going at our core facility as we ramp up for the year. The technical committee, including Glencore, continues to be focused on the expansion potential of the lower Stillwater Igneous Complex. Detailed geological and structural interpretive work during the past two years added significantly to our understanding of the large Platreef-style mineralized system discovered within the footwall contact zone of the Stillwater Complex. Our geological models now display strong geological control and continuity on mineralized zones. The planned airborne surveys will provide important high-resolution datasets to refine targeting of high-grade nickel-copper-PGE sulphide-hosted mineralization within the multi-kilometer-scale geophysical anomalies that we see across the 32-kilometer-long mineralized system.”
Upcoming Events
Stillwater is pleased to announce that President and CEO Michael Rowley will be presenting at the following events:
Precious Metals Summit, Beaver Creek, Colorado, September 10-13, 2024. For information and registration please click here.
Precious Metals Summit, Zurich, Switzerland, November 11-12, 2024. For information and registration please click here.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSXV:PGE)(OTCQB:PGEZF)(FSE:J0G) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the addition of two renowned Bushveld and Platreef geologists to the team and strategic investments by Glencore plc, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group, nickel, and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, positions Stillwater West with the largest nickel resource in an active US mining district as part of a compelling suite of nine minerals now listed as critical in the USA. To date, five Platreef-style nickel and copper sulphide deposits host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold at Stillwater West. All of these deposits remain open for expansion along trend and at depth.
Stillwater also holds the high-grade Black Lake-Drayton Gold project adjacent to Nexgold Mining’s development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
FOR FURTHER INFORMATION, PLEASE CONTACT: Michael Rowley, President, CEO & Director – Stillwater Critical Minerals Email: info@criticalminerals.com Phone: (604) 357 4790 Web: http://criticalminerals.com Toll Free: (888) 432 0075
Quality Control and Quality Assurance
Mr. Mike Ostenson, P.Geo., is the qualified person for the purposes of National Instrument 43-101, and he has reviewed and approved the technical disclosure contained in this news release.
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, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical 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, 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 companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical 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.
Casa Grande, AZ and Toronto, ON, July 16, 2024 – Arizona Sonoran Copper Company Inc. (TSX:ASCU) (“ASCU” or the “Company”), releases its updated Mineral Resource Estimate (“MRE”) for the Cactus brownfield copper project, located 45 miles south of Phoenix, Arizona (see FIGURES 1-3). The updated and expanded MRE is inclusive of a seven-month drilling program targeting the MainSpring property, which was completed in April 2024. The Cactus Project is wholly owned and located on private land in Arizona with direct road and rail access, infrastructure onsite, is at an advanced permitting stage, and has permitted access to onsite water wells. Highlights and key changes from the updated MRE are listed below.
Highlights:
Updated total Cactus Project Mineral Resource Estimate (“MRE”) including Primary Mineral Resources:
Measured and Indicated (“M&I”) 632.6 million short tons @ 0.58% Total Copper (“CuT”) for 7.3 billion pounds (“lbs”) of copper
Inferred 474.0 million short tons @ 0.41% CuT for 3.8billion lbs of copper
Key Changes:
Confirms Parks/Salyer and MainSpring as one deposit, renamed to “Parks/Salyer”
Parks/Salyer mineral resource contains 339.0 million short tons @ 0.71% CuT for 4.8 billion lbs of copper in the M&I category and 299.3 million short tons @ 0.43% CuT for 2.6 billion lbs of copper in the Inferred category
Parks/Salyer amenable as an open pit within the pending Preliminary Economic Assessment
New Parks/Salyer mineral resource dimensions are 6,400 feet (“ft”)(1,950 meters (“m”) by 3,000 ft (915 m) to a maximum depth of 2,350 ft (716 m) below surface
1,904% increase to the Measured Category with inclusion of initial Measured mineral resources at Parks/Salyer, 26% increase to the total M&I and a 60% increase in total Inferred resource, with no change to cut-off grade criteria or underlying price and cost assumptions
42% increase of M&I mineral resources at Parks/Salyer attributed to success of measured infill drilling program, reporting of open pit resources, and reporting based on total copper pounds
Parks/Salyer infill drilling (56,907 ft | 17,345 m) converted 55.9 M short tons @ 1.03% CuT for 1.2 billion lbs of copper reported to the measured category
60% increase to the Inferred mineral resources attributed to expansion of Parks/Salyer mineral resource onto the MainSpring property and reporting based on total copper pounds
7-month drilling program at MainSpring (49,193 ft | 14,994 m) delivered 244.9 M short tons @ 0.39% CuT for 1.9 Billion lbs of copper reported to the Inferred mineral resource
Table 1 below reports the July 11, 2024, Cactus Project MRE, containing the combined Parks/Salyer, Cactus West, Cactus East, and Stockpile mineral resource areas. Each mineral resource area is broken out individually in Table 4. Mineral resources defined within this July 11, 2024, the Cactus Project MRE will be used to form the basis of the ASCU Preliminary Economic Assessment (“PEA”), on track for release in early Q3 2024.
TABLE 1: Cactus Project MRE, Contained Copper Separated into Total Copper and Soluble Copper
Material Type
Tons kt
Grade CuT %
Grade Cu Tsol %
Contained Total Cu (k lbs)
Contained Cu Tsol (k lbs)
Measured
Total Leachable
55,200
0.94
0.79
1,032,200
873,800
Total Primary
12,300
0.51
0.05
124,400
13,400
Total Measured
67,500
0.86
0.66
1,156,500
887,200
Indicated
Total Leachable
414,800
0.60
0.53
4,965,000
4,365,700
Total Primary
150,400
0.39
0.04
1,173,300
126,000
Total Indicated
565,200
0.54
0.40
6,138,200
4,491,700
M&I
Total Leachable
470,000
0.64
0.56
5.997,200
5,239,500
Total Primary
162,700
0.40
0.04
1,297,600
139,400
Total M&I
632,600
0.58
0.43
7,294,800
5,378,900
Inferred
Total Leachable
299,600
0.43
0.38
2,572,400
2,262,800
Total Primary
174,500
0.36
0.04
1,267,500
124,700
Total Inferred
474,000
0.41
0.25
3,839,900
2,387,500
NOTES: 1. Total soluble copper grades (Cu TSol) are reported using sequential assaying to calculate the soluble copper grade. Tons are reported as short tons. 2. Stockpile resource estimates have an effective date of 1st March, 2022, Cactus mineral resource estimates have an effective date of 29th April, 2022, Parks/Salyer-MainSpring mineral resource estimates have an effective date of 11th July, 2024. All mineral resources use a copper price of US$3.75/lb. 3. Technical and economic parameters defining mineral resource pit shells: mining cost US$2.43/t; G&A US$0.55/t, 10% dilution, and 44°-46° pit slope angle. 4. Technical and economic parameters defining underground mineral resource: mining cost US$27.62/t, G&A US$0.55/t, and 5% dilution. Underground mineral resources are only reported for material located outside of the open pit mineral resource shells. Designation as open pit or underground mineral resources are not confirmatory of the mining method that may be employed at the mine design stage. 5. Technical and economic parameters defining processing: Oxide heap leach (HL) processing cost of US$2.24/t assuming 86.3% recoveries, enriched HL processing cost of US$2.13/t assuming 90.5% recoveries, sulphide mill processing cost of US$8.50/t assuming 92% recoveries. HL selling cost of US$0.27/lb; Mill selling cost of US$0.62/lb. 6. Royalties of 3.18% and 2.5% apply to the ASCU properties and state land respectively. No royalties apply to the MainSpring property. 7. Variable cut-off grades were reported depending on material type, potential mining method, potential processing method, and applicable royalties. For ASCU properties – Oxide open pit or underground material = 0.099% or 0.549% TSol respectively; enriched open pit or underground material = 0.092% or 0.522% TSol respectively; primary open pit or underground material = 0.226% or 0.691% CuT respectively.For state land property – Oxide open pit or underground material = 0.098 % or 0.545% TSol respectively; enriched open pit or underground material = 0.092% or 0.518% TSol respectively; primary openpit or underground material = 0.225% or 0.686% CuT respectively.For MainSpring properties – Oxide openpit or underground material = 0.096% or 0.532% TSol respectively; enriched open pit or underground material = 0.089% or 0.505% TSol respectively; primary open pit or underground material = 0.219% or 0.669% CuT respectively. Stockpile cutoff = 0.095% TSol. 8. Mineral resources, which are not mineral reserves, do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, sociopolitical, marketing, or other relevant factors. 9. The quantity and grade of reported inferred mineral resources in this estimation are uncertain in nature and there is insufficient exploration to define these inferred mineral resources as an indicated or measured mineral resource; it is uncertain if further exploration will result in upgrading them to an indicated or measured classification. 10. Totals may not add up due to rounding.
George Ogilvie, Arizona Sonoran Copper Company President and CEO commented, “The new Parks/Salyer deposit, inclusive of MainSpring could be transformational for the Company as we foresee the opportunity to right size a larger operation and rescope Parks/Salyer to an open pit mine. The pending result would lead to reduced mining execution risks and lowered operating costs which could manifest themselves in improved Project economics. The key difference in the larger mineral resource used for the pending PEA, relates to the MainSpring property acquisition and subsequent inferred drilling program identifying the continuation of near surface mineralization south of Parks/Salyer.”
Doug Bowden, Arizona Sonoran Copper Company VP Exploration stated, “Our Cactus Project is a successful copper porphyry growth story resulting from an aggressive exploration program. Our mineral resource journey began with our initial PEA in 2021, and continuously expanded outward from the Cactus Pit area to include Parks/Salyer and most recently MainSpring within the 5.5 km mine trend. The Parks/Salyer discovery includes significant quantities of high-grade (+1.00% CuT) copper, similar to the grades in Cactus East (as shown in FIGURES 2 and 3). Through systematic step out and infill drilling following our first mineral resource in 2021 to today’s update, our Cactus Project MRE indicates an increase to the M&I by an impressive 353%, from 1.61 Billion lbs to 7.29 Billion lbs of copper, while the inferred mineral resources increased 94%, from 1.98 Billion lbs to 3.84 Billion lbs. Lastly, these mineral resource areas have responded favorably and impressively to infill drilling with a consistently high conversion rate into higher resource classifications and will look forward to future infill programs as we move through the technical studies.”
Cactus Mineral Resources Estimate The Parks/Salyer mineral resources as shown in FIGURE 3, inclusive of MainSpring, indicate 339.0 M short tons @ 0.71% CuT in the M&I category and 299.2 M short tons @ 0.43% CuT in the Inferred Category. Notably, Parks/Salyer is mostly contained within an optimized resource open pit shell indicating the rescoped potential of open pit mining of the deposit with the inclusion of shallower mineralization located on the MainSpring property. Parks/Salyer mineral resources were calculated with a cutoff date of March 31, 2024. There are no material changes to the Cactus East, West and Stockpile deposits as reported within the FEB 21, 2024 PFS.
For the purposes of the MRE, Cactus East reports as open pit mineral resources in compliance with Reasonable Prospects for Eventual Economic Extraction (“RPEEE”). For the purposes of the pending PEA, Cactus East is expected to be exploited as an underground operation.
Table 2 below reports a direct like–for-like comparison of the updated July 11, 2024, MRE, to the MRE comprising the Prefeasibility Study (“PFS”) MRE and illustrates a significant change to the Measured (+1,900%) and Inferred (+60%) categories, as it relates to successful expansion and infill programs at Parks/Salyer, including the MainSpring Property. The Table below calculates a combination of the Soluble Copper grades and Total Copper grades based on the leachable (oxides and enriched) zones, and the primary sulphides, respectively, going forward, mineral resources will calculate both the contained Total Copper and Soluble Copper inventory. Table 2 uses the same notes and assumptions as Table 1.
Table 2: The Cactus Project Mineral Resource Estimate, as of July 11, 2024, as Compared to August 31, 2023
PREVIOUS MINERAL RESOURCE (As of August 31, 2023)
UPDATED MINERAL RESOURCE (As of July 11, 2024)
VARIANCE
Material Type
Tons kt
Grade Cu%¹
Contained Cu k lbs
Tons kt
Grade Cu%¹
Contained Cu k lbs
Cu Content %
Leachable
9,100
0.23¹
41,900
55,200
0.79¹
873,800
1,985%
Primary
1,300
0.32
8,000
12,300
0.51
124,400
1,455%
Total Measured
10,400
0.24
49,800
67,500
0.74
998,200
1,904%
Leachable
348,500
0.63¹
4,387,200
414,800
0.53¹
4,365,700
0%
Primary
86,800
0.43
737,000
150,400
0.39
1,173,300
59%
Total Indicated
435,300
0.59
5,124,200
565,200
0.49
5,539,000
8%
Leachable
357,600
0.62¹
4,429,000
470,000
0.56¹
5,239,500
18%
Primary
88,000
0.42
745,000
162,700
0.40
1,297,600
74%
Total M&I
445,700
0.58
5,174,000
632,600
0.52
6,537,100
26%
Leachable
107,700
0.61¹
1,307,900
299,600
0.38¹
2,262,800
73%
Primary
126,200
0.36
900,000
174,500
0.36
1,267,500
41%
Total Inferred
233,800
0.47
2,207,900
474,000
0.37
3,530,300
60%
NOTES: refer to TABLE 1 1 Grade shown is Soluble Copper (Cu TSol)
Drilling programs The updated Cactus Project MRE is supported by a systematic drilling program targeting MainSpring, the near surface southern extension of the Parks/Salyer deposit, and infill to measured drilling at Parks/Salyer, within the 5.5 kilometre (“km”) (~3.5 mile (“mi”)) mine trend. Mineral resources were classified using data of 125 ft (38 m) drill spacing for Measured, 250 ft (76 m) drill spacing for Indicated and 500 ft (~152 m) drill spacing for Inferred. The in-ground mineral resources were calculated using 435 total drillholes including 161 new holes drilled into the Cactus West and East deposits since 2019 and 159 new holes drilled into the Parks/Salyer deposits since 2020. The Stockpile mineral resource was calculated using 514 new holes drilled into the stockpile on a regular grid since 2021. The isolated MainSpring mineral resource estimate containing 244.9 M short tons @ 0.39% CuT, is shown in TABLE 3 below, while each deposit is broken out separately within TABLE 4.
TABLE 3: MainSpring Property Resource contained within New Parks/Salyer Mineral Resource
Material Type
Tons kt
Grade CuT %
Grade Cu Tsol %
Contained Total Cu (k lbs)
Contained Cu Tsol (k lbs)
Inferred
Total Leachable
200,100
0.39
0.34
1,562,700
1,370,300
Total Primary
44,800
0.38
0.04
344,000
33,100
Total Inferred
244,900
0.39
0.29
1,906,700
1,403,500
NOTES: refer to TABLE 1
TABLE 4: Cactus Project Mineral Resources by Resource Area
Material Type
Tons kt
Grade CuT %
Grade Cu Tsol %
Contained Total Cu (k lbs)
Contained Cu Tsol (k lbs)
Measured
Leachable
Parks Salyer O/P
45,000
1.09
0.92
981,200
828,700
Parks Salyer U/G
5
1.30
0.92
100
100
Cactus O/P
10,200
0.25
0.22
50,800
45,000
Cactus U/G
n/a
Stockpile
n/a
Total Leachable
55,200
0.93
0.79
1,032,100
873,800
Primary
Parks Salyer O/P
10,900
0.53
0.06
115,500
12,200
Parks Salyer U/G
40
0.77
0.07
700
100
Cactus O/P
1,300
0.32
0.04
8,200
1,100
Cactus U/G
n/a
Stockpile
n/a
Total Primary
12,300
0.51
0.05
124,400
13,400
Total Measured
67,500
0.86
0.66
1,156,500
887,200
Indicated
Leachable
Parks Salyer O/P
201,300
0.75
0.66
3,027,000
2,671,100
Parks Salyer U/G
1,100
0.96
0.85
21,400
18,900
Cactus O/P
131,000
0.55
0.49
1,446,100
1,277,000
Cactus U/G
10,200
1.04
0.89
213,100
181,100
Stockpile
71,100
0.18
0.15
257,400
217,600
Total Leachable
414,800
0.60
0.53
4,965,000
4,365,700
Primary
Parks Salyer O/P
80,400
0.42
0.04
680,600
69,200
Parks Salyer U/G
100
0.77
0.12
1,200
200
Cactus O/P
68,300
0.34
0.03
465,800
45,100
Cactus U/G
1,600
0.81
0.36
25,700
11,500
Stockpile
n/a
Total Primary
150,400
0.39
0.04
1,173,300
126,000
Total Indicated
565,200
0.54
0.40
6,138,200
4,491,700
Measured & Indicated
Leachable
Parks Salyer O/P
246,300
0.81
0.71
4,008,200
3,499,800
Parks Salyer U/G
1,100
0.98
0.86
21,500
19,000
Cactus O/P
141,200
0.53
0.47
1,496,900
1,322,000
Cactus U/G
10,200
1.04
0.89
213,100
181,100
Stockpile
71,100
0.18
0.15
257,400
217,600
Total Leachable
470,000
0.64
0.56
5,997,200
5,239,500
Primary
Parks Salyer O/P
91,300
0.44
0.04
796,100
81,400
Parks Salyer U/G
100
0.95
0.15
1,900
300
Cactus O/P
69,600
0.34
0.03
474,000
46,200
Cactus U/G
1,600
0.80
0.36
25,700
11,500
Stockpile
n/a
Total Primary
162,700
0.40
0.04
1,297,600
139,400
Total M&I
632,600
0.58
0.43
7,294,800
5,378,900
Inferred
Leachable
Parks Salyer O/P
234,500
0.42
0.38
1,990,200
1,767,500
Parks Salyer U/G
9,600
0.84
0.76
161,200
146,300
Cactus O/P
50,400
0.34
0.28
344,600
286,900
Cactus U/G
3,900
0.94
0.77
72,800
59,100
Stockpile
1,200
0.15
0.13
3,600
3,000
Total Leachable
299,600
0.43
0.38
2,572,400
2,262,800
Primary
Parks Salyer O/P
54,100
0.39
0.04
427,300
41,000
Parks Salyer U/G
1,000
0.82
0.26
16,700
5,300
Cactus O/P
117,800
0.34
0.03
798,700
68,300
Cactus U/G
1,500
0.82
0.33
24,900
10,200
Stockpile
n/a
Total Primary
174,500
0.36
0.04
1,267,600
124,800
Total Inferred
474,000
0.41
0.25
3,839,900
2,387,500
NOTES: refer to TABLE 1
Cactus Project Mineral Resource Modelling The geological modelling, statistical analysis, and resource estimation in respect of the Cactus Project MRE were prepared by the ASCU resource team and by Allan Schappert – CPG #11758, who is a qualified person as defined by National Instrument 43-101– Standards of Disclosure for Mineral Projects (“NI43-101”).
The Cactus Project MRE updates are based upon updated drilling data and interpretations. The Cactus Mineral Resource model was developed in Vulcan. Drilling data is supported by industry standard quality assurance and quality control programs, with quality control sampling comprising preparation blanks, certified reference materials, and field and pulp duplicate analyses. Review of the QA/QC data indicates it is of a quality suitable for use in resource estimation.
The mineralized domains are consistent with domaining for porphyry copper systems. Mineralized domains represent combinations of rock type and copper mineral zonation associated with secondary copper enrichment weathering processes. The main mineral zones are leached, oxide, enriched, and primary. Mineral zones are determined by logging and the assay attributes of sequential copper analyses.
Physical density measurements have been undertaken across the deposits, both historically by ASARCO, and more recently by ASCU. Density measurements on inground deposits use the wet / dry weight method and comprise 3,372 samples for Cactus and 143 samples for Parks/Salyer. Due to the unconsolidated nature of the stockpile material, physical bulk density measurements were attained by weight and volume calculations. Four test holes were excavated from which the material removed was dried and weight and the volume of each hole calculated.
Copper grades were estimated using Ordinary Kriging, using 20 ft (6.1 m) composites and top cutting determined by log normal probability plots on a per domain basis. Grade estimates were validated using visual and statistical methods including statistical distribution comparisons, visual comparison against the drilling data on sections, swath plots comparing block grades trends against de-clustered composites, and by smoothing checks using change of support. The effective date of the Cactus Project MRE is July 11, 2024. The Cactus Project MRE will form the basis of a PEA technical report prepared in accordance with NI 43-101, and prepared by M3 Engineering, which will be filed on SEDAR+ under the Company’s issuer profile within 45 days of this news release and will also be available at such time on the Company’s website. The PFS will be superseded in all respects once the Company has publicly disclosed the PEA.
Quality Assurance / Quality Control Drilling completed on the project between 2020 and 2024 was supervised by on-site ASCU personnel who prepared core samples for assay and implemented a full QA/QC program using blanks, standards, and duplicates to monitor analytical accuracy and precision. The samples were sealed on site and shipped to Skyline Laboratories in Tucson AZ for analysis. Skyline’s quality control system complies with global certifications for Quality ISO9001:2008.
Scientific and technical information contained in this news release have been reviewed and verified by Allan Schappert – CPG #11758, who is a qualified person as defined by NI 43-101.
Neither the TSX nor the regulating authority has approved or disproved the information contained in this news release.
About Arizona Sonoran Copper Company (www.arizonasonoran.com | www.cactusmine.com) ASCU’s objective is to become a mid-tier copper producer with low operating costs and to develop the Cactus Project that could generate robust returns for investors and provide a long term sustainable and responsible operation for the community and all stakeholders. The Company’s principal asset is a 100% interest in the brownfield Cactus Project (former ASARCO, Sacaton mine) which is situated on private land in an infrastructure-rich area of Arizona. The Company is led by an executive management team and Board which have a long-standing track record of successful project delivery in North America complemented by global capital markets expertise.
Forward-Looking Statements This news release contains certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. All information, other than historical fact, are forward-looking information. Generally, statements containing forward-looking information or statements can be identified by the use of forward-looking terminology such as “plans”, “expect”, “is expected”, “in order to”, “is focused on” (a future event), “estimates”, “intends”, “anticipates”, “believes” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, or the negative connotation thereof. Forward looking information includes, but is not limited to, the Company’s future operations, future exploration and development activities or other development plans, the potential of the Cactus Project (including the Parks/Salyer deposit), timing of economic studies and mineral resource estimates including the filing of the technical report in respect of the Cactus Project MRE, the results (if any) of further exploration work to define and or upgrade mineral resources and reserves at the Company’s properties; the anticipated exploration, drilling, development, construction and other activities of ASCU and the result of such activities; the mineral resources and mineral reserves estimates of the Cactus Project including the Cactus Project MRE (and the assumptions underlying such estimates); the ability of exploration work (including drilling) to accurately predict mineralization; the ability of management to understand the geology and potential of the Cactus Project; the completion and timing for the filing of the technical report in respect of the Cactus Project MRE; the timing and ability of the Company to produce a preliminary economic assessment (if at all); the scope of any future technical reports and studies conducted by ASCU; the ability to realize upon mineralization in a manner that is economic; the impact of bringing the Parks/Salyer deposit including the MainSpring property into the mine plan; , and corporate and technical objectives. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of ASCU to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties that could affect the outcome include, among others: future prices and the supply of metals; risks relating to fluctuations in the Canadian dollar and other currencies relative to the US dollar; the results of drilling; the ability to access capital on terms acceptable to the Company necessary to incur the expenditures required to retain and advance the properties; changes in exploration, development or mining plans due to exploration results and changing budget priorities of the Company or its joint venture partners; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; results of exploration programs or further exploration work; the ability to continue exploration and development of the ASCU properties; changes in any of the assumptions underlying the Cactus Project MRE; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war; or delays in obtaining governmental approvals, projected cash operating costs, failure to obtain any required consents, permits or approvals; and the additional risks described in ASCU’s most recently filed Annual Information Form, annual and interim management’s discussion and analysis, copies of which are available on SEDAR+ (www.sedarplus.ca) under ASCU’s issuer profile.
Although ASCU has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. The Company considers its assumptions to be reasonable based on information currently available but cautions the reader that their assumptions regarding future events, many of which may be beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affects the Company and its operations. Accordingly, readers should not place undue reliance on forward-looking information and are urged to carefully consider the foregoing factors as well as other uncertainties and risks outlined in the Company’s public disclosure record. Forward-looking statements contained herein are made as of the date of this news release and ASCU disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Figure 1: Location of Nip Zone relative to Ultimate Pit
Nip Zone – 3D Chargeability Model
Figure 2: Hole to Hole Resistivity/IP Survey Model
VANCOUVER, British Columbia, July 16, 2024 (GLOBE NEWSWIRE) — via IBN – Emperor Metals Inc. (“Emperor”) (CSE: AUOZ, OTCQB: EMAUF, FSE: 9NH) Emperor is exploring eastward from the Duquesne West, conceptual open pit model toward the Nip Zone, focusing on untested potentially high-grade gold targets after completing 30% (2,500 meters) of the ongoing 8,000-m drill program at the Duquesne West Gold Project in Quebec.
Robust thickness of high-grade gold intercepts at the Nip Zone of 16.0 m of 6.06 g/t Au with untested downhole IP/Resistivity anomalies in the vicinity, as well as defined structural lineaments, make this a top priority area to explore for additional ounces. Intercepts of 2.5 m of 52.88 g/t Au show the higher-grade potential of this project (see Table 1).
CEO John Florek said: “Early visuals of our current drilling campaign have been intriguing and we look forward to seeing the assay results. We have a significant opportunity to expand this deposit eastward to potentially double the footprint of this deposit with no sign of an outer limit at this stage.”
Nip Zone Target
The gap between the main Conceptual Open-Pit and the Nip Zone is relatively unexplored with very similar geology and larger thicknesses of Quartz-Feldspar Porphyry (QFP) intercalated with the volcanics. Mineralization at these rock boundaries is proven to be structurally controlled and host the high-grade gold mineralization.
The Nip Zone has very encouraging historical gold intercepts that will likely be very valuable towards the expansion and development of this property. It highlights the potential and the opportunity for expansion of the gold resources between these two areas (Figure 1).
Table 1 demonstrates the significant grade and thickness in the Nip Zone. The intercepts have continuous mineralization in broad zones of structurally brecciated rocks. These zones of broad high-grade mineralization are associated with IP/Resistivity anomalies forming “hot spots,” as displayed in Figure 2. Some of these hot spots are untested and need follow-up drilling to continue resource building and evaluation.
This is another example of the historical data revealing opportunities to expand resources at Duquesne West, at little to no cost to Emperor.
Emperor is well funded with approximately $4 million in working capital at the onset of this drilling program to advance the Duquesne West project towards an updated mineral resource.
Drill Program Update
The current drilling campaign follows up on the very successful results of Emperor’s 2023 program.
The initial 2,500 meters was focused within the Conceptual Ultimate Open Pit foot wall; focusing on building inferred ounces. Emperor is now extending the drilling 1.1 km east towards the Nip Zone (Figure 1) to understand how potential satellite open pits can be connected to increase inferred ounces and to follow up on a 2011 historical downhole IP/Resistivity borehole model that has untested chargeability and resistivity anomalies (Figure 2).
By concentrating on drilling near surface mineralization within an ultimate conceptual open pit, Emperor can add ounces more rapidly and mine at a significantly lower grade compared to an underground mining scenario.
Emperor plans on a mineral resource update scheduled for Q1 of 2025.
Nip Zone Significant Historical Intercepts
Hole No.
From (m)
To (m)
Interval (m)
Au (g/t) – Weighted Averages
1DQ09-09
304
322
16.00
6.06
1DQ10-17
101
118
17.00
3.02
1DQ06-18
407.5
408.4
2.5
51.88
1DO-11-28
268.2
269.2
1.0
32.23
1Host Structures are interpreted to be steeply dipping and true widths are generally estimated to be 90%.
Table 1: Significant Historical Intercepts from Nip Zone
About the Duquesne West Gold Project
The Duquesne West Gold Property is located 32 km northwest of the city of Rouyn-Noranda and 10 km east of the town of Duparquet, Quebec, Canada. The property lies within the historic Duparquet gold mining camp in the southern portion of the Abitibi Greenstone Belt in the Superior Province.
Under an Option Agreement, Emperor agreed to acquire a 100% interest in a mineral claim package comprising 38 claims covering approximately 1,389 ha, located in the Duparquet Township of Quebec (the “Duquesne West Property”) from Duparquet Assets Ltd., a 50% owned subsidiary of Globex Mining Enterprises Inc. (GMX-TSX). For further information on the Duquesne West Property and Option Agreement, see Emperor’s press release dated Oct. 12, 2022, available on SEDAR.
The Property hosts a historical inferred mineral resource estimate of 727,000 ounces of gold at a grade of 5.42 g/t Au.1,2 The mineral resource estimate predates modern Canadian Institute of Mining and Metallurgy (CIM) guidelines and a Qualified Person on behalf of Emperor has not reviewed or verified the mineral resource estimate, therefore it is considered historical in nature and is reported solely to provide an indication of the magnitude of mineralization that could be present on the property. The gold system remains open for resource identification and expansion.
A reinterpretation of the existing geological model was created using AI and Machine Learning. This model shows the opportunity for additional discovery of ounces by revealing gold trends unknown to previous workers and the potential to expand the resource along significant gold-endowed structural zones.
Multiple scenarios exist to expand additional resources which include:
Underground High-Grade Gold.
Open Pit Bulk Tonnage Gold.
Underground Bulk Tonnage Gold.
1 Watts, Griffis, and McOuat Consulting Geologists and Engineers, Oct. 20, 2011, Technical Report and Mineral Resource Estimate Update for the Duquesne-Ottoman Property, Quebec, Canada, for XMet Inc.
2 Power-Fardy and Breede, 2011. The Mineral Resource Estimate (MRE) constructed in 2011 is considered historical in nature as it was constructed prior to the most recent CIM standards (2014) and guidelines (2019) for mineral resources. In addition, the economic factors used to demonstrate reasonable prospects of eventual economic extraction for the MRE have changed since 2011. A qualified person has not done sufficient work to consider the MRE as a current MRE. Emperor is not treating the historical MRE as a current mineral resource. The reader is cautioned not to treat it, or any part of it, as a current mineral resource.
QP Disclosure
The technical content for the Duquesne West Project in this news release has been reviewed and approved by John Florek, M.Sc., P.Geol., a Qualified Person pursuant to CIM guidelines.
About Emperor Metals Inc.
Emperor Metals Inc. is an innovative Canadian mineral exploration company focused on developing high-quality gold properties situated in the Canadian Shield. For more information, please refer to SEDAR (www.sedar.com), under the Company’s profile.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ “John Florek”
John Florek, M.Sc., P.Geol President, CEO and Director Emperor Metals Inc.
The Canadian Securities Exchange has not approved nor disapproved the content of this press release.
Certain statements made and information contained herein may constitute “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the company and there is no assurance that the actual results will meet management’s expectations. Forward-looking statements and information may be identified by such terms as “anticipates,” “believes,” “targets,” “estimates,” “plans,” “expects,” “may,” “will,” “could” or “would.”
Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws.
I’ve done a number of interviews lately because there are a lot of people talking about things they have no understanding of. Such as war and geopolitics.
If you remember back to the Gulf War reporting, the people on the boob tube were breathlessly commenting on “Daisy Cutters” as if they were some sort of giant bombs. While it is so that the Air Force used giant 10,000-pound bombs to clear landing zones, the term “Daisy Cutter” didn’t refer to the bomb but to the 36-inch-long fuse that detonated the bomb before it reached the earth.
As an F-4B pilot and later an O-1C and O-1G Birddog Forward Air Controller I dropped and controlled hundreds of 500-pound Mark-82 bombs and 750-pound Mark-83 bombs which used the Daisy Cutter fuses to clear landing zones. Daisy Cutter is the fuse, not the bomb.
And every time I hear some talking head mumbling about how Russia is the aggressor in the Ukraine war, I get an urge to gag. Have they all forgotten the $5 billion spent by Victoria Nuland to bring Democracy to Ukraine in 2014 by ridding them of their duly elected President in favor of a thug installed by the Neocons? How about the immortal phrase spoken by Nuland when organizing which thug would the US put into power?
Fuck the EU. I hope that is deeply engraved on her tombstone one day because it perfectly shows the US interest in Democracy.
The MSM has failed to even mention the 14,000 dead from the Ukrainians shelling mostly women and children from 2014 to 2022 in Donbas. And none of them mention the 100,000 NATO trained and armed Ukrainian soldiers poised on the border with Donbas ready to invade. It was scheduled for March 10th 2022.
I think Civil War 2.0 began in a meaningless Trump speech in some Podunk town in Pennsylvania on July 13. The dust has yet to settle but this begins to smell like a long dead fish floating on the top of a swamp.
In what appears to be a credible interview of someone attending the Trump rally we are told that numerous watchers saw a young man carrying a rifle go on top of a building a mere 135 meters or so from where former President Trump was speaking. The watchers attempted to notify the Secret Service and police of the dangerous event of a gunman within easy rifle range of Trump but were ignored.
The shooter managed to aim his rifle and fire a number of rounds towards Trump. From the sound of the rifle to me it appears the sniper was firing a .22 caliber rifle probably with .22 Long Rifle rounds. If you make a head shot, the person hit is going down, likely on a permanent basis. I carried a .22 caliber Colt Woodsman pistol in Vietnam as a survival weapon. I could hit someone at 50 meters in the head and kill them. So, someone basically familiar with a .22 rifle at 135 meters is pretty much point-blank range.
Through a total fluke the shooter missed and only nicked Trump’s ear lobe. An inch or two away from a fatal wound. Clearly there was a giant failure on the part of the Secret Service. Much has been made of the numerous viewers who tried and seemingly failed to garner the attention of either local police or the Secret Service.
There is a very famous picture of two counter snipers on another rooftop about 130 meters or so from the assassin’s position. You may wonder why they didn’t see and take down the shooter.
According to someone calling himself Jonathan Willis, he is one of the two counter snipers on the roof to protect Trump. They had to have seen the assassin but took no action.
Jonathan Willis or someone posting as him says they were forbidden by the head of the Secret Service to shoot until the sniper fired. Willis claims he had the sniper in his sights for at least three minutes and his superiors refused to clear him to shoot.
If you listen to any of the many videos of the attempted assassination you can hear the gunman fire a number of rounds from what would probably be a semi-automatic .22 rifle. A mere second or two after he fired you can hear multiple rounds being fired almost certainly from the counter snipers. Many of the reports call the counter snipers members of the Secret Service but I don’t think they were. I think they were local police snipers. Their uniforms were marked Police and what Jonathan Willis wrote in his entry on X he sounds like a policeman.
Certainly, if the Secret Service refused to allow their own snipers to shoot an assassin and the shooter managed to wound Trump the agent would be told to keep his mouth shut. If Jonathan Willis was in fact one of the counter snipers and was police rather than Secret Service, he wasn’t about to allow the world to think the failure to shoot was his fault.
The timing of the various shots being fired suggests he tells the truth. If the counter snipers didn’t know where the shots were coming from, it would take them a few seconds to determine where the threat originated. They couldn’t have acquired the shooter and manage to kill him a couple of seconds after he fired at Trump and did manage to kill someone attending the rally.
If the top agent of the Secret Service at this rally refused to allow the counter snipers to do their jobs, this was a coup. A deliberate coup on the part of the Secret Service to kill Trump.
We will know on July 15th if it was deliberate or a simple but well-meaning mistake. If the Secret Service agent in charge is fired today it could have been a stupid mistake. If the agent is not fired, it means there is a coverup in progress.
I’ve done ten to fifteen interviews in the last month or so. When asked I made it clear that it is my belief that Biden will not be the Democrat candidate for the Presidential election in November. Lots of viewers didn’t agree with me but clearly there is no chance Biden will be the Democrat choice. He can’t complete a rational sentence. He confuses Zelensky with Putin and believes Trump is his black appointment as Vice President. Biden and the Democrats are destroying what remains of the American attempt at Empire.
And I have made it clear in a number of interviews that Donald Trump terrifies the Democrats to the point that there have been a lot of suggestions that the best way to protect America is to assassinate Trump. They are logically afraid that if Trump is elected, he will do the same thing to them that they have done to him for at least eight years. A mere week ago Biden was calling for Trump to be put in the bullseye. On the 13th of July Biden’s wish came true.
Call it Civil War 2.0 or simply a coup d’état but the Deep State operatives have shown their true colors.
This next week is probably going to be one of the most critical weeks in US history. Millions of military age men have been allowed to enter the US illegally, given money, a cell phone, food and accommodations. Some of them have to be double agents brought in by someone or somebody to create panic and chaos at the right time.
It would be no problem for these young men to be given weapons, ammo and targets. All we need for Martial Law to be imposed would be to have a few dozen random attacks by illegals all across the country. Then the Democrats could do what Zelensky did in Ukraine. When his term expired, he simply ignored the law and stayed in office. Biden/Harris might well conclude that’s just a spiffy idea.
If we don’t have migrants running around shooting people another alternative is for the Deep State to start whacking political candidates for office on both sides. If it works in South America, Mexico and Serbia why can’t it work here? In Mexico alone thirty-seven candidates were killed in this latest election in June of 2024. No doubt we can surpass that number in the US with candidates being whacked by the Deep State on both sides.
I’m not a fan of Alex Jones. As far as I can tell he isn’t dealing with a full deck. But in a short video he put out on Saturday he suggests we have had a coup. He might well be right and if so, we will know shortly.
North Vancouver, British Columbia–(Newsfile Corp. – July 12, 2024) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to report Q2 CY2024 gold production for the Tuvatu Gold Mine in Fiji.
Highlights:
3,551 oz of gold recovered during Q2 2024
3,251 oz of gold poured during Q2 2024
32,100 tonnes milled during Q2 2024
Quarterly Production Results
Lion One Metals has produced 3,551 oz of gold during the three-month period ending June 30th, 2024. This marks an increase from the prior three-month period ending March 31st, 2024, during which 1,394 oz of gold was produced, and represents a ramp-up of mining and processing activities during the pilot plant phase of operations (Figure 1).
The increase in production is due to the introduction of mechanized production in May and June, as well as the increased mill throughput from February to May (Figure 2). A total of 32,100 tonnes of mineralized material was processed during Q2 CY2024, compared to 20,751 tonnes in Q1 CY2024.
Lion One Chairman and CEO Walter Berukoff commented: “We’re pleased with the production results at Tuvatu this quarter. Commissioning of the processing plant was only completed in January, with some components only installed in April and May.”
“This quarter represents a milestone for the company as it is the first quarter in which the plant has been operating at full capacity. It is also the first quarter in which we have had mechanized production. We are just beginning to see the potential at Tuvatu and we’re excited as we look forward to doubling the plant capacity from 300 TPD to 600-700 TPD, and to advancing towards the ultra-high-grade Zone 500.”
Figure 1. Tuvatu Monthly Gold Production. Gold recovery and production has increased steadily at Tuvatu as mining and processing activities have ramped up during the pilot plant phase of operations. A step change increase in production occurred in May and June following the introduction of mechanized production.
Figure 2. Tuvatu Monthly Mill Throughput. Mill throughput at Tuvatu has steadily increased since the first gold pour in October 2023. The second quarter or 2024 is the first quarter in which the Tuvatu processing plant has been operating at full capacity.
Mr. David Tretbar has resigned from the company’s Board of Directors. Mr Tretbar has resigned due to his increased management responsibilities at San Cristobal Mining, for which he is the founder, Senior Vice President of Exploration, and Director. Mr Tretbar was appointed to the Board of Directors in June 2020 and helped guide Lion One Metals through a period of tremendous growth, including the discovery of the Zone 500 feeder zone, the construction and commissioning of the Tuvatu underground gold mine and processing plant, the first gold pour at Tuvatu, and the ramp-up of gold production during the 300 TPD pilot plant phase.
Lion One CEO Walter Berukoff commented, “We’re grateful for all the contributions David has made to the success of Lion One over the past four years. The Tuvatu gold project has benefitted greatly from David’s technical knowledge and experience, and we wish him all the best in his work with San Cristobal Mining.”
Competent Persons Statement The information in this report that relates to mineral exploration at the Tuvatu Gold Project is based on information compiled by the Lion One team and reviewed by Alex Nichol, who is the company’s Vice President of Geology and Exploration. Mr Nichol is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC code). Mr Nichol has read and approved this news release and consents to the inclusion in this report of the matters based on the information in the form and context in which it appears.
About Lion One Metals Limited Lion One Metals is an emerging Canadian gold producer headquartered in North Vancouver BC, with new operations established in late 2023 at its 100% owned Tuvatu Alkaline Gold Project in Fiji. The Tuvatu project comprises the high-grade Tuvatu Alkaline Gold Deposit, the Underground Gold Mine, the Pilot Plant, and the Assay Lab. The Company also has an extensive exploration license covering the entire Navilawa Caldera, which is host to multiple mineralized zones and highly prospective exploration targets.
On behalf of the Board of Directors, Walter Berukoff, Chairman & CEO
Neither the TSX-V nor its Regulation Service Provider accepts responsibility or 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 labor 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.
Ottawa, Ontario–(Newsfile Corp. – July 11, 2024) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce that it has received the assay results from its recently completed trenching program along the Tyro Main Zone which has confirmed our understanding of the geology, added new potential high-grade targets for the next drill campaign and extended the zone along strike to the northeast.
Highlights from the program include:
Confirmed the geologic model where the White Spar Fault intersects the Tyro Main Zone. Trench 1 (T1) returned 39.7m of 1.14 g/t Au including 9.5m of 2.08 g/t Au. In 2023, drilling returned 51.1 g/t Au over 9.1m (GC23-28) about 40 to 50m below these surface exposures.
Identified new fault structures intersecting the Tyro Main Zone trending north to northwest (similar to the White Spar fault), providing additional high-grade potential zones.
Extended the Tyro Main Zone to the northeast by approximately 40m with Trench 13 (T13) returning 4.7m of 7.64 g/t Au, where it remains open to the northeast.
Derek Macpherson, President and CEO stated, “The data collected in this low-cost exploration effort has improved our understanding of the Tyro Main Zone geology, particularly the impact of the White Spar fault on the SW portion (Decimal Hill Zone) and the high-grades previously drilled at this intersection. With this data, we are starting to plan the next phases of drilling potentially allowing Gold79 to deliver a maiden resource that would be higher-grade and larger than the current deposits in the region.”
A total of 15 trenches were excavated across 358m with a total of 217 chip-channel samples collected. Highlights of the analytical results are presented in Table 1.
Table 1. Summary of the Tyro Main Vein trenching program.
In addition to the sampling, all trenches were mapped with the results presented in Figure 1.
Figure 1: Geologic map of the Tyro vein system showing recently completed trenches (T1-T15), Phase 1 and Phase 2 drill hole locations and surface rock sample gold values.
The trenching program has provided Gold79 a combination of better geologic control and a higher sample density. The result is greater confidence that the White Spar fault was active at essentially the same time as the Tyro Main vein but movement continued after the Tyro vein allowing for downward offset of the Decimal Hill zone. This better explains the gold values at Decimal Hill (Table 1: T1, T2, T3 and T3B). Additionally, the results serve to better constrain the limits of gold-bearing veins surrounding the shallow pit; important widths and grades have been documented on 3 sides (Table 1: T4, T5, T6 and T15). In the NE Tyro zone, trenches have exposed broad zones of chalcedony veining and breccia with variable widths and grades (Table 1: T7 thru T12). Most importantly, the northernmost trench, T13, identified beneath alluvial cover a zone of silicification hosting quartz veinlets and breccia with 7.64 g/t Au over 4.7 metres. This brings meaningful gold grades closer to our Frisco Graben target where the suspected gold zone is concealed beneath vapor-dominated alteration.
The Tyro Main Zone is composed of several gold-bearing stages emplaced into a NE-trending, steeply dipping structural corridor which has seen repeated movement. This low sulfidation, epithermal vein system can be divided into 3 zones (SW to NE; Figure 1): 1. Decimal Hill; 2. Tyro Mine Zone; and, 3. The Tyro NE Zone. These zones are essentially defined by north-northwest-trending faults which were likely operative both during and after the Tyro mineralizing events.
Figure 2. Geologic map of the Decimal Hill Zone showing mine workings, drill holes, trenches and surface samples.
The Decimal Hill zone, covering about 300 metres of the Tyro Main vein southwest of the mine, is situated at the intersection of the Tyro and White Spar structural corridors (Figure 2). In addition to the structural intersection, the area hosts the convergence of several rhyolite dikes whose faulted contacts may have provided avenues of ingress to the gold-bearing fluids. This zone is characterized by both north- to northeast-trending veins and breccia and NW-trending veins and breccia. The veins here lack the textural banding, adularia and reveal diminished gold values (i.e. <3 g/t Au; Figure 3).
This trenching campaign, along with the geologic mapping, has confirmed that the Decimal Hill Zone contains both NW- and N-NE-trending veins suggesting that both structural corridors were operative prior to and during the mineralizing stages. The White Spar trend clearly hosted a greater component of post-mineral movement. This later movement is manifested by relatively small offsets of the veins along the Tyro structural corridor resulting in the structural juxtaposition of high-level vein textures and gold grades (Figure 3) with textures and gold grades more indicative of the ‘bonanza’ or boiling zone (i.e. Tyro Mine zone; Figure 4).
Figure 3: Sample No. 0743 (1.15 g/t Au): Hydrothermal breccia composed of Precambrian granite and multi-stage vein fragments including quartz-replaced lattice texture, massive white chalcedony and crustiform-banded chalcedony-adularia rimming massive quartz fragments, Decimal Hill Zone.
The Tyro Mine Zone, shown in Figure 5, a N30oE-trending zone of sub-parallel and sub-vertical veins, veinlets and hydrothermal breccia, extends from the White Spar fault intersection to the top of Tyro Hill, a distance of about 430 metres (Figure 5). The zone hosts most of the mining activity conducted between 1915 and 1941 and in the 1980s. This includes the Tyro Shaft, reported to be 500 feet deep, the 200 Level and a slot pit developed on the highest-grade portion of the vein. The 200 Level defines the lowest level of selective production although there was some development along the vein to the 300 Level. The 200 Level defines the bottom of the slot pit and hosts a broad zone, 20 to 30 metres wide, of NE-trending chalcedony-adularia-calcite veins (Figure 4). Only two holes have been drilled beneath the Tyro Mine Zone, Hole Nos. GC23-23 (44.4m at 2.01 g/t Au) and GC23-24 (25.9m at 2.27 g/t Au).
The Northeast Tyro Zone extends from the top of Tyro Hill (Figure 1) at N60oE for about 300 metres where it disappears beneath an alluvium filled valley before it intersects the Frisco Mine fault, the southwest margin of the Frisco Graben. This zone commences at the intersection of a NNW-trending post-mineral fault (Figure 5) where the Tyro structural corridor rotates clockwise about 30o and flattens slightly to 70-80 degrees southeast. The initial 100 or so metres of the vein is characterized by a zone of silicified amphibolite and granite with weak to moderate chalcedony veinlets and stockwork. Trenches T7 and T8 were cut across this zone (Figure 5) with locally anomalous gold values. Trenches T9, T10 and T11 traverse a broad zone of strong quartz-chalcedony veins, stockwork and vein breccia with variable gold values, i.e. T11 – 7.6m @ 4.43 g/t Au. Between T10 and T11, a 60 metre segment of the vein complex, up to 5m wide, has been stoped to about 20m below the surface. Drilling beneath this zone by Gold79 in 2021 traversed up to 21.3m @ 2.0 g/t Au (GC21-15). The NE extent of the Tyro vein is obscured by dumps and alluvium where T13 was excavated to identify a concealed extension to the vein. Trench 13 traversed a zone of silicified amphibolite and granite containing quartz-chalcedony veinlets and breccia with 4.7m @ 7.64 g/t Au. The Tyro structure remains concealed by alluvial deposits for about 400 metres to the northeast where it intersects the Frisco Mine fault characterized by high-level silica-clay-hematite alteration.
Figure 6. Geologic map of the Northeast Tyro Zone showing mine workings, drill holes, trenches and surface samples.
The Company has closed its non-brokered private placement financing previously announced on April 11, 2024 and May 6, 2024. Gross proceeds of $718,250 was raised through the issuance of 2,873,000 units at $0.25 per unit. Each unit consists of one common share of the Company and one-half common share purchase warrant. A total of 1,436,500 whole warrants were issued, with each warrant entitling the holder to purchase one common share of the Company at a price of $0.30 per share until May 3, 2026. The warrants are callable, at the option of the Company, in the event that the 20-day volume-weighted average price of the Company’s common shares meets or exceeds $0.50 for 10 consecutive trading days based on trades on the TSX Venture Exchange and alternative trading systems. Subscribers will be notified of the call provision being triggered and will have a 30-day period to exercise the warrants.
Cash finder’s fees of $4,200 were paid and 16,800 finder warrants were issued. The finder warrants are exercisable at $0.30 per share and expire May 3, 2026.
This private placement is subject to the final approval of the TSX Venture Exchange. All securities issued in the placement are subject to a statutory hold period until Sept. 4, 2024.
Officers and directors of the Company participated in the private placement and acquired 900,000 units for $225,000. The participation of these insiders in the private placement constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 — Protection of Minority Security Holders in Special Transactions. The board of directors of the Company, with participating directors abstaining, determined that the transaction is exempt from the formal valuation and minority shareholder approval requirements contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 for the related-party transaction, as neither the fair market value of securities issued to the insiders nor the consideration paid by the insiders exceeded 25 percent of the Company’s market capitalization. The Company did not file a material change report in respect of the transaction 21 days in advance of the closing of the private placement because insider participation had not been confirmed. The shorter period was necessary in order to permit the Company to close the private placement in a time frame consistent with usual market practice for transactions of this nature.
Qualified Person / Quality Control and Quality Assurance
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for the trenching program including sample collection, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, over limit samples were determined by fire assay and gravimetric finish. Silver plus 34 other elements were determined by Aqua Regia ICP-AES, over limit samples were determined by fire assay and gravimetric finish. Gold standards and blanks were inserted into the sample chain along with QAQC procedures conducted by American Assay. Standard sample chain of custody procedures were employed during field work until delivery to the analytical facility.
About Gold79 Mines Ltd.
Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 has four gold projects, two of which are partnered with major gold producers (Kinross at Jefferson Canyon and Agnico at Greyhound). Gold79 is focused on establishing a maiden resource at its Gold Chain project in Arizona and advancing its Tip Top Project in Nevada.
For further information regarding this press release contact:
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any future private placement financing, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR at www.sedar.com. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
DOLLY VARDEN SILVER: TSX.V: DV | OTCQX: DOLLF WEBSITE: https://dollyvardensilver.com/ I’m Maurice Jackson, the founder of Proven and Probable. We specialize in identifying under valued stocks that have a massive potential upside. Today we are highlighting what we believe to be the best silver proposition for your portfolio nestled in the bottom of the Golden Triangle located in British Columbia, which has seen over $5B in M&A since 2018!
We have been buyers of this stock 4 years and counting. The company has just started their 2024 Drill Program of 25,000 Meters. Find out why Eric Sprott, Rick Rule, Hecla Mining, Fury Gold Mines, Fidelity Investments, Sprott, Sprott USA, Delbrook, and High-Net-Worth investors, with a 7% float! Watch now!
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project located in the Golden Triangle of British Columbia, Canada, 25kms by road to deep 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, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The 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).
Governments owe an unprecedented $91 trillion, an amount almost equal to the size of the global economy and one that will ultimately exacta heavy toll on their populations.
Debt burdens have grown so large — in part because of the cost of the pandemic — that they now pose a growing threat to living standards even in rich economies, including the United States.
Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In some cases, they’re even making profligate promises that could at the very least jack up inflation again and could even trigger a new financial crisis.
The International Monetary Fund last week reiterated its warning that “chronic fiscal deficits” in the US must be “urgently addressed.” Investors have long shared that disquiet about the long-term trajectory of the US government’s finances.
“(But) continuing deficits and a rising debt burden have (now) made that more of a medium-term concern,” Roger Hallam, global head of rates at Vanguard, one of the world’s largest asset managers, told CNN.
As debt burdens mount around the world, investors are growing anxious. In France, political turmoil has exacerbated concerns about the country’s debt, sending bond yields, or returns demanded by investors, soaring.
The first round of snap elections Sunday suggested that some of the market’s worst fears might not come to pass. But even without the specter of an immediate financial crisis, investors are demanding higher yields to buy the debt of many governments as shortfalls between spending and taxes balloon.
Higher debt servicing costs mean less money available for crucial public services or for responding to crises such as financial meltdowns, pandemics or wars.
Since government bond yields are used to price other debt, such as mortgages, rising yields also mean higher borrowing costs for households and businesses, which hurt economic growth.
As interest rates rise, private investment falls and governments are less able to borrow to respond to economic downturns.
Tackling America’s debt problem will require either tax hikes or cuts to benefits, such as social security and health insurance programs, said Karen Dynan, former chief economist at the US Treasury and now professor at the Harvard Kennedy School. “Many (politicians) are not willing to talk about the hard choices that are going to need to be made. These are very serious decisions… and they could be very consequential for people’s lives.”
Kenneth Rogoff, an economics professor at Harvard University, agrees that the US and other countries will have to make painful adjustments.
Debt is “not free anymore,” he told CNN.
“In the 2010s, a lot of academics, policymakers and central bankers came to the view that interest rates were just going to be near zero forever and then they started thinking debt was a free lunch,” he said.
“That was always wrong-headed because you can think of government debt as holding a flexible-rate mortgage and, if the interest rates go up sharply, your interest payments go up a lot. And that’s exactly what’s happened all over the world.”
‘Conspiracy of silence’
In the United States, the federal government will spend $892 billion in the current fiscal year on interest payments — more than it has earmarked for defense and approaching the budget for Medicare, health insurance for older people and those with disabilities.
Next year, interest payments will top $1 trillion on national debt of more than $30 trillion, itself a sum roughly equal to the size of the US economy, according to the Congressional Budget Office, Congress’s fiscal watchdog.
The CBO sees US debt reaching 122% of GDP a mere 10 years from now. And in 2054, debt is forecast to hit 166% of GDP, slowing economic growth.
So how much debt is too much? Economists don’t think there is a “predetermined level at which bad things happen in markets,” but most reckon that if debt hits 150% or 180% of gross domestic product, that means “very serious costs for the economy and society more broadly,” said Dynan.
Despite growing alarm over the federal government’s debt pile, neither Joe Biden nor Donald Trump, the main 2024 presidential candidates, are promising fiscal discipline ahead of the election.
British politicians have also buried their heads in the sand ahead of a general election Thursday. The Institute for Fiscal Studies, an influential think tank, has decried a “conspiracy of silence” between the country’s two main political parties, over the poor state of public finances.
“Regardless of who takes office following the general election, they will — unless they get lucky — soon face a stark choice,” IFS director Paul Johnson said last week. “Raise taxes by more than they have told us in their manifestos, or implement cuts to some areas of spending, or borrow more and be content for debt to rise for longer.”
Countries trying to tackle the debt issue are struggling. In Germany, ongoing infighting over debt limits has put the country’s three-way governing coalition under enormous strain. The political standoff could come to a head this month.
In Kenya, blowback over attempts to address the country’s $80 billion debt burden has been much worse. Proposed tax hikes have sparked nationwide protests, which have claimed 39 lives, prompting President William Ruto to announce last week that he would not sign the proposals into law.
Enter the scary bond market
But the problem with putting off efforts to rein in debt is that it leaves governments vulnerable to far more painful disciplining by financial markets. The United Kingdom offers the most recent example in a major economy. Former Prime Minister Liz Truss triggered a collapse in the pound in 2022 when she tried to force through big tax cuts funded by increased borrowing.
And the threat hasn’t gone away. Take France. The risk of a financial crisis there became a serious concern virtually overnight after President Emmanuel Macron called a snap election last month.
Investors were worried voters would elect a parliament of populists bent on spending more and cutting taxes, further swelling the country’s already-high debt and budget deficit.
Even though this worst-case scenario now looks less likely, what happens after next Sunday’s second round of voting is far from certain. Yields on French government bonds have continued creeping up, reaching their highest level in eight months Tuesday.
Dynan at the Harvard Kennedy School says financial markets can quickly become unnerved by “political dysfunction” that causes investors to doubt a government’s willingness to make good on its debt.
“We tend to have a lack of imagination about the scope for things going wrong. If there’s a big event in which the market freaks out about (US) debt, it’s not going to be something that was on our radar,” she said.
ancouver, British Columbia–(Newsfile Corp. – June 20, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce it has entered into a credit agreement (the “Credit Agreement“) with a wholly-owned subsidiary (the “Lender“) of Franco-Nevada Corporation (NYSE: FNV) (TSX: FNV) (“Franco-Nevada“) to borrow $35 million (the “Loan“). The Company will use the proceeds of the Loan to repay the $34.66 million outstanding balance of the loan owed to Sprott Private Resource Lending II (Collector), LP (“Sprott“) and for general working capital purposes. The Company anticipates that the funding of the Loan will take place in July 2024.
The Company is pleased to further develop its working relationship with Franco-Nevada. In addition to the Loan arrangement, EMX and Franco-Nevada have jointly syndicated royalty purchases (e.g., Caserones) and are actively engaged in a joint venture seeking new royalty financing opportunities. Franco-Nevada is also a key EMX shareholder.
Credit Agreement – The Loan is structured as a $35 million senior secured term loan facility which matures on July 1, 2029. Interest is payable monthly at a rate equal to the three-month SOFR (i.e., Secured Overnight Financing Rate) plus the applicable margin based on the ratio of the Company’s net debt to adjusted EBITDA (see table below), adjusted quarterly.
Ratio of Net Debt / AdjustedEBITDA:
Applicable Interest Rate (per annum):
< 1.00:1
Term SOFR plus 300 basis points
>= 1.00:1 and <1.50:1
Term SOFR plus 325 basis points
>= 1.50:1 and <2.00:1
Term SOFR plus 350 basis points
>= 2.00:1 and <3.00:1
Term SOFR plus 375 basis points
>= 3.00:1
Term SOFR plus 425 basis points
On closing, the Company will pay a commitment fee equal to 1% of the principal amount of the Loan. During each year, up to $10 million of the Loan may be voluntarily prepaid without penalty, on a cumulative basis.
The Loan will be secured by a general security agreement over the assets of EMX and share pledges by certain of EMX’s subsidiaries, with the Lender retaining the ability, at any time, to designate certain material subsidiaries of the Company to be guarantors of the Loan and provide similar security. Certain covenants under the Credit Agreement, including restrictions on incurring indebtedness and encumbrances, shall apply to the Company and its subsidiaries. Closing and the advance of the Loan are subject to customary conditions precedent, including the delivery of the above-noted security.
All amounts referred to herein are to United States dollars.
About EMX – EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.
About Franco-Nevada – Franco-Nevada Corporation is the leading gold-focused royalty and streaming company with the most diversified portfolio of cash-flow producing assets. Its business model provides investors with gold price and exploration optionality while limiting exposure to cost inflation. Franco-Nevada is debt free and uses its free cash flow to expand its portfolio and pay dividends. It trades under the symbol “FNV” on both the Toronto and New York stock exchanges.
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 the expected timing for the closing of the Loan, the satisfaction of the conditions of closing of the Loan and the expected use of proceeds from the Loan, 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 the Company being unable to satisfy the conditions of closing of the Loan or being unable comply with the covenants under the Credit Agreement, including the repayment of any amounts owing under the Loan, 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 March 31, 2024 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, 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.caand on the SEC’s EDGAR website atwww.sec.gov.
