Category: Precious Metals

Categories
Energy Junior Mining Precious Metals

Gold79 Announces Closing of Private Placement Financing

Ottawa, Ontario–(Newsfile Corp. – July 26, 2023) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce the closing of a second final tranche of its non-brokered private placement financing, raising gross proceeds of $249,314 through the issuance of 8,310,457 units at $0.03 per unit. In total, including the first tranche of the placement, 15,310,457 units were issued for gross proceeds of $459,314.

Each unit consists of one common share of the Company and one whole common share purchase warrant. A total of 8,310,457 warrants were issued in the second tranche, with each warrant entitling the holder to purchase one common share of the Company at a price of $0.05 per share until July 26, 2025. The warrants are callable after the statutory hold period, at the option of the Company, in the event that the 20-day volume-weighted average price of the Company’s common share meets or exceeds $0.08 for ten consecutive trading days based on trades on the TSX Venture Exchange (“TSX-V”) 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.

In connection with the second tranche of the placement a cash finder fee of $210 was paid and 7,000 finder warrants were issued. The finder warrants are exercisable at $0.05 per share and expire on July 26, 2025.

This private placement is subject to the final approval of the TSX-V. All securities issued in the first tranche of the placement are subject to a statutory hold period until October 9, 2023 and for the second tranche until November 27, 2023, respectively.

It is anticipated that approximately 50 percent of the aggregate proceeds raised under the offering will be used for exploration expenditures, land management costs and property payments; approximately 25 percent will be used to pay management fees to Company officers; and, approximately 25 percent will be used for working capital and general corporate purposes.

The securities issued in the private placement will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold within the United States or to or for the account or benefit of U.S. persons, except in certain transactions exempt from the registration requirements of the U.S. Securities Act. This press release does not constitute an offer to sell, or the solicitation of an offer to buy, securities of the Company in the United States.

Gold Chain annual property payment

The Company intends to issue 2,062,548 common shares of the Company in connection with a US$48,000 ($63,283) share payment due under the option agreement covering a portion of the Company’s landholdings for the Gold Chain project in Arizona. The common shares issued will have a statutory hold period of four months and one day from the date of issuance. This shares for debt transaction remains subject to TSX-V approval.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

Stay Connected with Us:
Twitter: @Gold79Mines
Facebook: https://www.facebook.com/Gold79Mines
LinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/

FORWARD-LOOKING STATEMENTS:

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 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.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174982

Categories
Energy Junior Mining Precious Metals Project Generators

Riverside Makes Strategic Acquisition of High Grade Gold at the Pichette Gold Project, NW Ontario

Vancouver, British Columbia–(Newsfile Corp. – July 24, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to announce it has acquired part of P.A.T. Gold Mine inside of the larger Pichette Project west of Geraldton, Ontario. The P.A.T Mine project was drilled extensively in the 1950s and then had test mining conducted in the 1970s with an initial bulk sample extracted during that period. The historical work (non NI43-101) includes geophysics, geochemistry, geology, and drilling, which delivered strong gold intercepts at shallow depths including 16.65 g/t Au over 3.81m and 34.28 g/t Au over 1.1m both intervals at less than 80m depth (see Figure 1). This historical work at Pichette was located on recently reverted mineral leases that Riverside acquired through staking as the Company had surrounded strategic area with mineral claims.

Highlights:

  • 100% Riverside owned, no underlying royalty.
  • >1 Oz/ton Au in historical core intercepts for 1m+ intervals at 30m depth, thus shallow and open at depth.
  • Close to past producing 1M oz Au Leitch Mine with associated iron formation host rocks.
  • Within Greenstone Gold Mines, Hard Rock deposit >10M Oz Au so far.
  • Riverside magnetics survey has defined banded iron formation targets that fit with surface gold showings make this exciting and highly prospective for drilling gold.

“Riverside is very excited to have acquired this new area of gold mineralization, which is on trend with the previously identified Banded Iron Formation (BIF) gold mineralization at Pichette and appears to have continuity to the west with Leitch Gold Mine BIF host rock sequence . The BIF unit extends across the project outlining a multi-kilometer target in this district of significant past gold production. The historical work comprising geophysics and drilling gives us a solid focus for advanced drilling in this part of the Geraldton Gold Belt,” states Riverside’s President and CEO, John-Mark Staude who has been on site and notes the similarities to the Leitch Mine geology 15 kilometers to the west of Pichette.

The Pichette Project is well located with excellent road infrastructure immediately south of the Trans-Canada Highway with drive up targets within the Beardmore-Geraldton Greenstone Belt. The Pichette targets are underlain by the east-west trending Archean-aged metavolcanic and metasedimentary suite consisting of greywacke and iron formation, which is the same geologic

Figure 1: Drone magnetics survey completed recently by Riverside with historical drill holes plotted. Dashed black line subterrane boundary discussed in text.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/174605_fad7bb4af4f2f968_003full.jpg

sequence that hosts the <1M Oz Brookbank deposit1  opposite the highway from the project. Multiple banded ironstone units are interbedded with the metavolcanics throughout the sequence making stratigraphic traps for gold. BIF hosted gold deposits occur in many major Canadian mining camps and are a significant target on the Pichette Project seen as red and blue areas in the northern portion of the Figure 1. The BIF layers consist of recrystallized chert alternating with magnetite with small amounts of pyrite, chalcopyrite and other indicator minerals. There is favorable structural preparation for gold with major fractures acting as conduits for mineralizing fluids and minor intrusions. The veins and fractures contain secondary quartz, carrying gold which becomes a second habit of gold on the project. The ironstones have been traced across the project and were better defined by the recent drone magnetic survey. Medium-grained, quartz-porphyry sills, 0.5-1.5 m wide, intrude some of the ironstones and provide a third host for gold and in crossing structures for targeting gold bearing fluid flow.

Much of the historical exploration and mining work was conducted during the 1950s with Tombill Mines Ltd. carrying out a program of surface work and diamond-drilling. Tombill conducted VLF-EM geophysics and then a soil survey of the anomalous zones defining very shallow drill targets. Later during the 1974 and 1975 field seasons, P.A.T. Mines completed thirty-two core drill holes (see figure 2). The P.A.T. drilling returned high grade intercepts at shallow depths, leaving the system open at depth.

Mineralization
In 1952 Tombill Mines Ltd. outlined 4 mineralized zones in the area of the claims. The drilling conducted by P.A.T. Mines on the Pichette property recorded gold mineralization associated with two persistent subparallel chert-magnetite-carbonate ironstones (see figure 3). The ironstones are 40 m apart and strike 75 and dip 85 north. Surface prospecting and historical diamond drilling have traced the ironstones 600 m along strike, and they average 2.0-2.5 m wide. Up to 20% magnetite has been noted in the ironstones and can contain up to 2% arsenopyrite.

Table 1: Some of the best intercepts from the historical drilling on the Pichette Project.

Drill Hole IDFrom (m)To (m)Interval (m)Grade Au g/t
20116.7620.573.8116.65
20235.9137.031.1334.28
20256.9758.461.497.20
20461.8765.073.204.80
20932.4635.052.594.51
21031.8835.813.932.31
21348.9549.650.706.51
21642.3145.783.473.37
21735.6937.581.897.37
22042.8245.082.265.31

Note: P.A.T. Mines drilled 26 holes on the Pichette Project as part of a larger drilling campaign in 1952. The original certificates for the assays are not available. The values here are extracted from drilling logs that were filed as part of assessment work. The work was conducted prior to the implementation of National Instrument 43-101 and as such should not be relied upon. Subsequent drilling in this area may not duplicate these results.

The gold is commonly enriched in intensely altered rocks adjacent to or within quartz-carbonate veins and veinlets as found in orogenic gold deposits. Several of the holes show high grade intercepts similar to those documented at the Leitch Gold Mine to the west at Beardmore. The bulk of the historical information described above was recovered from the Ontario Geological Survey (OGS) databases and the provincial government’s Mineral Deposit Inventory (MDI) records. These sites have been verified by government geologists and reviewed in the field by Riverside geologists and are believed to be reliable in their geological detail. However, the original assay certificates from the historical drilling are no longer available and therefore cannot be verified.

Figure 2: Plan view of the historical drilling with the best intercepts highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/174605_fad7bb4af4f2f968_004full.jpg

Figure 3: Drill Section looking west showing the parallel veins noted on surface and in drill core.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/174605_fad7bb4af4f2f968_006full.jpg

Qualified Person:
This news release was reviewed and approved by Freeman Smith, P.Geo., a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $7M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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

1The Brookbank Deposit is reported to include open-pit Measured and Indicated Resources of 2.64 million tonnes averaging 2.02 g/t Au and containing 172,000 ounces. Underground resources are reported to include Measured and Indicated Resources of 1.86 million tonnes averaging 7.21 g/t Au and containing 430,000 ounces of gold (www.premiergoldmines.com).

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174605

Categories
Gold Company Junior Mining Precious Metals

Gold79 Announces Amendment of a Gold Chain Property Option Agreement Reducing Near-Term Cash Payments

Ottawa, Ontario–(Newsfile Corp. – July 24, 2023) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to announce that it has entered into an amending agreement with respect to one of its option agreements for the Gold Chain, Arizona project which reduces cash payments in the near-term.

This amending agreement relates to 107 unpatented mining claims forming part of the Gold Chain project. In total, the Gold Chain project consists of 379 unpatented mining claims covering approximately 3,058 hectares (7,552 acres) and 15 patented claims covering approximately 107 hectares (264 acres). The Company retains a right to earn a 100% interest in this portion of the project while the future payment schedule for certain cash and share payments has been amended as further detailed below.

Derek Macpherson, President and CEO of Gold79, states, “Given market conditions, this reduction in near-term cash payments is an important step to allow Gold79 to continue advancing the project. I would like to thank the project optionors for providing us with additional flexibility by deferring near-term cash payments with this amendment.”

Details with respect to the amendment is as follows:

The amended option agreement now requires a balance of future annual cash payments totaling US$415,000 (previously US$410,000) with anniversary payments extending to July 30, 2028 versus July 30, 2025 previously. Future share payments now total a value of US$192,000 (previously US$144,000) with annual payments due July 30, 2023 to July 30, 2026. Details of the revised future payments are as follows:

Table 1: Amended Payment Schedule

TimingCash payments (US dollars)Common share payments
(US dollars)
On or before July 30, 2023$15,000$48,000
On or before July 30, 202425,00048,000
On or before July 30, 202555,00048,000
On or before July 30, 202660,00048,000
On or before July 30, 2027100,000Nil
On or before July 30, 2028160,000Nil
Totals$415,000$192,000

Table 2: Previous Payment Schedule

TimingCash payments (US dollars)Common share payments
(US dollars)
On or before July 30, 2023$60,000$48,000
On or before July 30, 2024100,00048,000
On or before July 30, 2025250,00048,000
Totals$410,000$144,000

There continues to be no minimum commitment for exploration work expenditures under the option agreement and all other terms remain unchanged.

This amending agreement is subject to approval of the TSX Venture Exchange.

About Gold79 Mines Ltd.

Gold79 Mines Ltd. is a TSX Venture listed company focused on building ounces in the Southwest USA. Gold79 holds 100% earn-in option to purchase agreements on three gold projects: the Jefferson Canyon Gold Project and the Tip Top Gold Project both located in Nevada, USA, and, the Gold Chain Project located in Arizona, USA. In addition, Gold79 holds a 32.3% interest in the Greyhound Project, Nunavut, Canada under JV by Agnico Eagle Mines Limited.

For further information regarding this press release contact:
Derek Macpherson, President & CEO
Phone: 416-294-6713
Email: dm@gold79mines.com
Website: www.gold79mines.com.

Book a 30-minute meeting with our CEO here.

Stay Connected with Us:
Twitter: @Gold79Mines
Facebook: https://www.facebook.com/Gold79Mines
LinkedIn: https://www.linkedin.com/company/gold79-mines-ltd/

FORWARD-LOOKING STATEMENTS:

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 proposed private placement or any future private placements, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174462

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Options Its Flat and Bamble Nickel Projects in Norway

Vancouver, British Columbia–(Newsfile Corp. – July 24, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an option agreement for EMX’s Flåt and Bamble nickel-copper sulfide projects in Norway (the “Projects“) (see Figure 1) to Londo Nickel Limited (“Londo Nickel“), a public unlisted Australian Company. The agreement provides EMX with 2.5% Net Smelter Return (“NSR“) royalty interests, cash and equity payments, work commitments and other considerations. In conjunction with this transaction, Londo Nickel intends to establish a public listing on the Australian Securities Exchange (ASX) later in 2023.

The Flåt and Bamble Projects belong to a belt of Proterozoic mafic intrusions in southern Norway that hosts a variety of nickel-copper sulfide deposits and occurrences (see Figure 1). These deposits were mined in the 20th century to help feed the nearby Nikkelverk smelter, which is now owned and operated by Glencore. During this period Norway was a major supplier of nickel to the world. The mines in southern Norway are also thought to have provided the majority of global nickel production in the late 19th century, and although over 40 mines have operated in the area historically, there has been very little modern exploration. In a broader context, the belt in southern Norway is considered to be the eastern extension of the same geologic trend that hosts the Voisey’s Bay nickel deposits in Labrador, Canada (the regions of modern-day Fennoscandia and Canada were once adjoined in the middle Proterozoic era).

The Projects will provide Londo Nickel with a strong pair of battery metal assets in advance of its proposed ASX listing. EMX and Londo Nickel will work together to apply modern exploration methods and deposit models to advance the Projects.

Commercial Terms Overview (terms are in Australian dollars (AUD) unless otherwise noted). Upon execution, Londo Nickel will make a cash payment of $30,000. During a seven-month option period, Londo Nickel can acquire a 100% interest in the EMX subsidiary company that controls the Projects by paying EMX an additional $20,000. Upon commencement of the IPO and ASX-listing process, Londo Nickel will make an additional cash payment of up to $100,000 and issue 750,000 shares of Londo Nickel to EMX along with 1,000,000 options with each option being exercisable for one share of Londo Nickel at a price of $0.25 for 48 months. Upon the first anniversary of the IPO, Londo Nickel will also pay EMX $50,000 in cash.

Upon completing the option requirements, Londo Nickel will earn 100% interest in each Project with EMX retaining:

  • A 2.5% NSR royalty interest in each Project.
  • Annual advance royalty (“AAR“) payments per each Project that commence on the third anniversary of the IPO. These will start at $30,000, with AAR payments increasing by 15% per year on subsequent anniversaries of the IPO until reaching $75,000.
  • Milestone payments of $250,000 in cash upon announcement via the ASX of a maiden JORC resource for each Project. Additional milestone payments of $500,000 in cash will be made to EMX upon the delivery of a feasibility study for each Project.

To maintain its interest in the Flåt and Bamble Projects, Londo Nickel will also spend a minimum of $300,000 and $100,000, respectively, by the first anniversary of the IPO, and $300,000 each year starting on the second anniversary of the IPO1.

Flåt Project Overview. EMX’s exploration licenses surround the historical Flåt Mine (see Figure 2), which was one of the largest nickel producers in Europe from 1872 through the end of World War II. Total reported production from the mine was 2.7 Mtonnes at average grades of 0.72% Ni, 0.48% Cu, and 0.06% Co2, and was the major source of nickel for the nearby Nikkelverk smelter in the first half of the 20th century. EMX’s land position covers the lateral and downward extensions of the mineralized body exploited by historical mining at Flåt, as well as other nearby historical mine workings. Falconbridge completed the most recent drill program in the 1970’s, but failed to reach the exploration target at depth. Beyond the near-mine targets, Falconbridge also investigated and drill tested other prospects within the intrusive complex, including Mølland and Oreknappen, which are also within the EMX land position. Drill results at Mølland, which include a historical intercept of 6.78 m @ 1.07% Ni, 0.27% Cu from 103.96 m depth (true width unknown), demonstrate additional upside potential on the project.3

Bamble Project Overview. The Bamble nickel-copper-cobalt project covers a 20-kilometer trend of mafic intrusions in the Bamble Belt. Multiple nickel and copper occurrences have been documented on the Bamble property, many of which have historical mine workings including the Skaugen and Nystein-Meikjaer target areas (see Figure 3). The Skaugen target is a 5 x 2 km magnetite-rich gabbroic pluton with a strong geophysical signature. There are disseminated sulfide occurrences around the periphery of the intrusion, with conductive EM anomalies in the center, many of which have never been drill tested.

More information on the Projects can be found at www.EMXroyalty.com.

Comments on Nearby and Adjacent Properties. The mines and deposits discussed in this news release provide context for EMX’s Projects, which occur in a similar geologic setting, but this is not necessarily indicative that the Projects host similar quantities, grades or styles of mineralization.

Dr. Eric P. Jensen, 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.

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

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

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

Forward-Looking Statements

This news release may contain “forward-looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve 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 March 31, 2023 (the “MD&A”), and the most 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.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

Figure 1. Location Map of EMX Royalty Properties

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/174487_1d491acdb4ceeb05_002full.jpg

Figure 2. Overview Map of Flåt Project with Historical Production Annotated
(see footnote 2 for historical production reference)

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1508/174487_1d491acdb4ceeb05_003full.jpg

Figure 3. Overview Map of Bamble Project on TMI Magnetics

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1508/174487_1d491acdb4ceeb05_004full.jpg

1 The work commitment for the Bamble project will increase to $300,000 per year following the 3rd anniversary of the IPO.

2 Historical production values provided by the Norwegian Geologic Survey in “The Ore Database”. (https://aps.ngu.no/pls/oradb/minres_deposit_fakta.Main?p_objid=5253&p_spraak=E). EMX has not performed sufficient work to verify the published assay data reported above, and these data cannot be verified as compliant with NI 43-101 standards, however EMX considers them reliable and relevant.

3 The historical drilling was completed by Sulfidmalm in 1968 and 1970 as reported to NGU in ‘The Sulfidemalm 2005 Annual Report’. EMX has not performed sufficient work to verify the historical drill results. However, from independent assessment, EMX considers the historical results to be reliable and relevant as an example providing general context for mineralization occurring on the property.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/174487

Categories
Base Metals Energy Junior Mining Precious Metals

Terra Balcanica Continues Testing Brezani Porphyry Target In Bosnia And Closes Third Tranche Of Financing

Vancouver, British Columbia, July 20, 2023 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 3rd tranche of the non-brokered private placement financing (the “Offering”) of units (the ”Units”) as it continues drilling the Brezani porphyry target in eastern Bosnia and Herzegovina.

Brezani Phase II Drilling Campaign
The Company is testing a 650 m wide conductivity high at the centre of an anomalously magnetic volume of rock, 1.2 km in diameter, where potassic altered porphyritic andesites overprinted by chlorite are found below a gold-bearing skarn (Figure 1). Here, the electrically resistive unit returned 88.0 m of 0.61 g/t AuEq from surface (see Company news release dated 24th of January 2023). The redrilled Phase I drill hole has now been extended beyond its 2022 terminal depth of 215 m along the same dip and azimuth. The HQ diameter diamond drill bit has now reached 468 m as it progresses at a rate of ca. 20 m daily to intercept the >60 mS/m conductor in a week.

Figure 1. A NW-SE geophysical cross section showing the trajectory of the drillhole BREDD002. At 323m, the conductivity reaches 15mS/m and coincides with a pyrite rich footwall indicating that the subsurface resistivity is chiefly controlled by the rock sulfide content. Phyllic altered feldspar phyric andesite (lower right) contains marcasite rich groundmass with up to 2,000 ppm Sb and 600 ppm Co. Also present are pyrite veins with crosscutting calcite centrelines that yield up to 1,000 ppm Cu (click here to view image).
BREDD002 Geology
From 240 m to 374.7m below surface, Terra’s BREDD002 drillhole has intersected a large package of phyllic altered hornfels with intermittent porphyry intrusions, crosscut at high angles and associated with both calc-silicate alteration and carbonate base metal veining.

At depth of 320 m and spatially coincident with a sub-horizontal conductivity change drilling has penetrated an intensely silicified structure underneath which there is a substantial increase in the volume of sulfide minerals and density of carbonate base metal veins (Figure 2). This structure, interpreted as a low-angle reverse fault, appears to intersect surface toward NW around the same area where gossanous material was previously mapped. It is suggested that this zone could be a target for intersection of carbonate-hosted, base metal veining.

The fault zone is characterized by increased pyrite veining and minor Zn, Sb, Sn anomalies and up to 2,100 ppm arsenic measured by the pXRF technique. If the current observed modal proportions of pyrite stay above 5 vol.% underneath the fault zone, along with the ubiquitous phyllic alteration overprint, this could be interpreted as evidence of the outer pyrite shell within a classic porphyry system and an indicator of potentially fertile ore system below.

Figure 2. Carbonate base metal vein registering 2,100 ppm arsenic by pXRF (click here to view image).
Third Tranche Private Placement Financing Closed
The Company issued an aggregate of 1,194,118 Units at a price of $0.085 per Unit for gross proceeds of $101,500 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 July 19th, 2026. Finders’ fees in the amount of $1,190 were paid.

Inclusive of the third tranche the Company has issued 9,575,268 units at a price of $0.085 for gross proceeds of $813,898 to date while continuing to raise funds until the end of July. Terra intends to use the net proceeds of the Offering for working capital and to finance the Phase II drilling across its portfolio of properties in Bosnia and Serbia.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the Private Placement will be subject to a four (4) month hold period ending November 20th, 2023.

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.

Qualified Person
Dr. Aleksandar Mišković, P.Geo. is the Company’s designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). Dr. Mišković has reviewed and validated that the information contained in this news release is factual, accurate and precise.

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”

Aleksandar Mišković
President and CEO

For further information, please contact Alex Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

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.

Categories
Base Metals Energy Junior Mining Metallic Minerals Precious Metals Stillwater Critical Minerals

Stillwater Critical Minerals Launches Expansion Drill Program

VANCOUVER, BC / ACCESSWIRE / July 20, 2023 / Stillwater Critical Minerals Corp. (TSX.V:PGE)(OTCQB:PGEZF) (the “Company” or “Stillwater”) is pleased to announce the start of 2023 expansion drilling at its flagship Stillwater West nickel-PGE-copper-cobalt and gold project in Montana, USA, in addition to providing an update on other initiatives including work already underway.

Highlights

  • Drilling will focus on expansion of the NI 43-101-compliant resources announced January 25, 2023 which demonstrated world-class grade and scale with 1.6 billion pounds of nickel, copper and cobalt and 3.8 million ounces of palladium, platinum, rhodium, and gold (“4E”) in a base case study totaling 255 million tonnes (“Mt”), with a high-grade component of 11.6 Mt grading 1.05% recovered nickel equivalent (as 0.56% Ni, 0.33% Cu, 0.03% Co,0.54 g/t Pd, 0.27 g/t Pt, 0.15 g/t Au and 0.019 g/t Rh).
  • Priority is on expansion of high-grade mineralization at the DR-Hybrid deposit at Chrome Mountain, including:
    • Drill hole CM2021-05, which returned 13.2 meters grading 2.89% Recovered Nickel Equivalent1 (“NiEq”) (2.31% Ni, 1.51 g/t 4E, 0.35% Cu, and 0.115% Co), starting at 37.6 meters. This high-grade mineralization, contained within 400.8 meters of continuous battery and precious metal mineralization, is of a type not previously identified in the Stillwater district and appears to be related to 8.5 meters of similar high-grade, high-tenor nickel sulphide returned in hole CM2020-04, approximately 125 meters downdip to the west. See news releases from May 03, 2022, and March 03, 2021.
  • Drilling is also expected to expand on high-grade targets at the CZ and HGR deposits at Iron Mountain, up to nine kilometers east of Chrome Mountain, as step-outs from the following intercepts:
    • Drill hole CZ2021-01, which returned 63.7 meters grading 0.86% NiEq (0.47% Ni, 0.42 g/t Pd, 0.27% Cu, and 0.04% Co as well as significant Pt and Au values), within 367.6 meters of continuous mineralization. This hole was a step-out from hole CZ2019-01 which returned 62.0 meters grading 0.56% NiEq and also 3.54 meters of 2.67% NiEq (as 1.53% Ni, 0.49% Cu, 0.099% Co, and 3.45 g/t 4E) within 399 meters of continuous mineralization, starting at surface. The CZ deposit benefits from a historic resource and positive preliminary metallurgical work completed by AMAX in the 1970s. See news releases from December 20, 2021, and January 21, 2020.
    • Drill hole IM2021-05 in the HGR deposit area returned 7.3 meters grading 0.70% NiEq (as 0.45% Ni, 0.51 g/t 4E, 0.17% Cu and 0.026% Co), and 2.4 meters 2.04% NiEq (as 1.55% Ni, 0.85 g/t 4E, 0.17% Cu, and 0.087% Co), within 379.2 meters of continuous battery and precious metal mineralization starting at surface. This hole was a step-out from hole IM2019-03 which returned 26.8 meters grading 0.85% NiEq (as 0.34% Ni, 0.15% Cu, 0.019% Co, and 1.24 g/t 4E) within 272.5 meters of continuous mineralization. See news releases from July 07, 2022, and December 18, 2019.
  • The 2023 campaign will be the first to apply updated geological models which incorporate similar geology from South Africa’s Platreef district under the direction of Dr. Danie Grobler, who joined the team in May of 2022 as Vice-President Exploration.
  • This campaign is funded by the recent 9.99% strategic equity investment by Glencore and is expected to consist of approximately 5,000 meters of diamond core drilling.

Michael Rowley, President and CEO of Stillwater Critical Minerals, stated, “We are very pleased to announce the arrival of equipment and crews for our 2023 drill campaign with a view to expanding our recent high-grade nickel and copper sulphide discoveries, enriched in cobalt and precious metals. Those intercepts included some of the widest and highest-grade intervals in their respective years and drove a robust and low-cost expansion of our previous mineral resource. We are focused on continuing that trend as we apply our new understanding of the geology of the Stillwater complex from the giant mines of South Africa. The broader fundamentals are stronger than ever for our sector, and the recent strategic investment by Glencore in Stillwater is an important validation of both the project and the underlying fundamentals of US critical mineral supply. We look forward to further announcements from this iconic and expanding American mining district, which has been producing high-grade critical minerals for over one hundred years.”

Dr. Danie Grobler, Vice-President of Exploration for Stillwater Critical Minerals, said “It’s exciting to be embarking on the 2023 drill campaign, which will be the first ever in the Stillwater Igneous Complex that incorporates detailed structural and stratigraphic models from very similar mineralization in South Africa’s Bushveld Igneous Complex. Field work, which commenced in June, includes a ground-based high resolution magnetic survey which has already provided a clear response to the high-grade massive sulphide zone identified in holes CM2021-05 and CM2020-04 holes noted above, further defining that target while also delineating stratigraphic and structural controls on mineralization. The world-class size and well-mineralized nature of the Stillwater complex, coupled with our new understanding of the structure and controls on mineralization, has provided us with a large number of targets to guide expansion of the existing resources while also leading us into exciting new areas”.

Metallurgy, US Geological Survey, and Other Initiatives

Sample collection for more detailed metallurgical testing is on-going as part of the expanding development of Stillwater West, with a view to including full metallurgical assessment in future studies. Preliminary metallurgical assessments by Stillwater returned strong nickel tenor in sulphides drilled by the Company to date. In addition, favorable historic bench-scale metallurgical results completed historically by AMAX at the Iron Mountain target area demonstrate the potential for effective nickel and copper sulphide flotation and PGE recovery.

2023 fieldwork surface programs including geophysical and geological prospecting and mapping surveys are also planned as part of the 2023 campaign. Some of these programs commenced earlier this year with a view to detailing priority drill targets.

In addition, the Company is pleased to report its continuing and expanding engagement with the US Geological Survey which includes new technical programs in addition to ongoing consultation and data sharing following multiple onsite meetings, with some programs eligible for funding under the Inflation Reduction Act and other government initiatives.

Carbon Capture

All five deposits in the 2023 Resource contain desirable nickel sulphide mineralization that has been shown to require a much lower environmental footprint in subsequent processing to nickel metal or nickel sulphate in comparison to the laterite nickel ores that dominate global production. As part of Stillwater’s commitment to global sustainability initiatives, the Company is also examining the potential for large-scale carbon sequestration with the objective of further reducing and possibly eliminating the carbon footprint of a potential mining operation at Stillwater West.

Carbon sequestration studies are ongoing in two channels as reported previously. The first, led by Dr. Greeshma Gadikota at Cornell University with funding by the Department of Energy under the Advanced Research Projects Agency-Energy program, is focused on novel hydrometallurgical techniques and carbon capture with the objective of increasing the extraction of critical minerals using reduced energy for a carbon negative mining future. The second is via ARCA Climate (formerly Carbin Minerals Inc) and the University of British Columbia with focus on investigating the potential to exploit the presence of certain ultramafic minerals that are known to have high capacity to bind carbon dioxide by a natural process known as mineral carbonation for carbon capture as part of a potential mining operation at Stillwater West.

This work strongly aligns with Stillwater’s Environmental, Social and Governance guidelines and principles, and the incorporation of carbon uptake may bring financial benefits via initiatives such as the 45Q Tax Credit for Carbon Oxide Sequestration that is now in place in the US.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) 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 a strategic investment by Glencore, 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 and other metals by neighboring Sibanye-Stillwater. An expanded NI 43-101 mineral resource estimate, released January 2023, delineates a compelling suite of critical minerals contained within five Platreef-style nickel and copper sulphide deposits at Stillwater West, which host a total of 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold, and remains open for expansion along trend and at depth.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ 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

Stillwater Critical Minerals, Thursday, July 20, 2023, Press release picture
Stillwater Critical Minerals, Thursday, July 20, 2023, Press release picture

1 – Recovered Nickel Equivalents (“NiEq”) are presented for comparative purposes using conservative long-term metal prices (all USD): $8.00/lb nickel (Ni), $4.00/lb copper (Cu), $24.00/lb cobalt (Co), $1,000/oz platinum (Pt), $2,200/oz palladium (Pd), $1,800/oz gold (Au), and $10,000/oz rhodium (Rh). NiEq is determined as follows: NiEq% = [Ni% x recovery] + [Cu% x recovery x Cu price/ Ni price] + [Co% x recovery x Co price / Ni price] + [Pt g/t x recovery / 31.103 x Pt price / Ni price / 2,204 x 100] + [Pd g/t x recovery / 31.103 x Pd price / Ni price / 2,204 x 100] + [Au g/t x recovery / 31.103 x Au price / Ni price / 2,204 x 100]. In the above calculations: 31.103 = grams per troy ounce, 2,204 = lbs per metric tonne, and 100 and 0.01 convert assay results reported in % and g/t. The following recoveries have been assumed for purposes of the above equivalent calculations: 85% for Ni and 90% for all other listed metals, based on recoveries at similar nearby operations.

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.

SOURCE: Stillwater Critical Minerals

Categories
Base Metals Energy Exclusive Interviews Junior Mining Precious Metals

[VIDEO] Site Visit Terra Balcanica: Investment Highlights & Impressions

Terra Balcanica is conducting a Capital Raise for Accredited Investors (Closes This Week):

Terra Balcanica Closes Second Tranche of Financing and Starts Phase II Drilling at Brezani Porphyry Target in Bosnia


For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Categories
Precious Metals

Goldman’s profits plunged 58% in 2Q

Profits plunged at Goldman Sachs (GS) during the second quarter as the Wall Street giant struggled with its core businesses of dealmaking and trading while taking impairment charges on consumer and commercial real estate holdings.

Goldman’s investment banking revenue declined 20% from a year ago and trading dropped 12%. That helped drag earnings down 58%, to $1.2 billion.

The earnings drop was worse than analysts expected. It was the firm’s lowest quarterly profits since early 2020.

The results are likely to intensify the scrutiny of CEO David Solomon, who is wrestling with everything from partner unrest to concerns about strategy as he tries to put a costly consumer-banking experiment behind the company.

Goldman Sachs CEO David Solomon speaks during the Goldman Sachs Investor Day at Goldman Sachs Headquarters in New York City, U.S., February 28, 2023. REUTERS/Brendan McDermid
Goldman Sachs CEO David Solomon. REUTERS/Brendan McDermid

Goldman is the latest of several big banks to report a continued slowdown in investment banking and trading.

Revenues from those businesses dropped during the last quarter at Citigroup (C) and JPMorgan Chase (JPM) but were up at Bank of America (BAC). At Morgan Stanley (MS), investment banking was flat compared to a year ago while trading revenues were down.

Goldman’s drop in investment banking was the second-worst among its peers, behind Citigroup. Its trading decline put it in the middle of the pack, better than Citigroup and Morgan Stanley but worse than Bank of America and JPMorgan.

‘Green shoots?’

Following a boom in 2021, the global slowdown in dealmaking began last year causing firms across Wall Street to slash bonuses and staff. It continued in 2023 as worldwide investment banking revenues for the second quarter fell 52% from a year ago, according to Dealogic.

Goldman is among the firms on Wall Street that have made or announced cuts of roughly 12,000 jobs since the end of 2022.

Bank executives and analysts are still predicting “green shoots” ahead, citing an uptick in announced M&A deals over the second quarter which could mean an improvement during the back half of 2023.

Morgan Stanley’s Chief Financial Officer Sharon Yeshaya told analysts Tuesday that “sentiment and activity improved towards the end of the quarter, evidenced by green shoots that emerged across our businesses.”

JPMorgan Chief Financial Officer Jeremy Barnum said investment banking was better than expected in June, but cautioned analysts on Friday that it was “too early” to label it a trend.

“We will see,” he said. For overall capital markets, “July should be a good indicator for the remainder of the year.”

Retreat from Main Street

Goldman has challenges beyond Wall Street. It is also scaling back its one-time ambitions to become a major presence on Main Street, an effort that started with a savings account and personal loans in 2016 under former CEO Lloyd Blankfein.

The strategy deepened after Solomon became CEO in 2018, including a credit-card partnership with Apple in 2019 and the $2.2 billion purchase of buy-now-pay-later fintech lender GreenSky in 2021.

The effort has taken a toll on the firm. Solomon acknowledged earlier this year that that a chunk of its consumer business had lost $3 billion since 2020, saying that “we tried to do too much too quickly.” He also said it would try to sell GreenSky.

On Wednesday Goldman said it took a $504 million write down in the second quarter related to “consumer platforms.” It also took impairments of approximately $485 million related to consolidated real estate investments.

The Wall Street Journal has also reported Goldman is now trying to end its partnership with Apple.

Categories
Base Metals Diamcor Mining Precious Metals

Diamcor Deploys Additional Heavy Equipment to Support Bulk Sampling and Targeted Increases in Processing Volumes

KELOWNA, BC / ACCESSWIRE / July 18, 2023 / Diamcor Mining Inc. (TSXV.DMI)(OTCQB-DMIFF)(FRA:DC3A), (“Diamcor” or the “Company”), a Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds, announced today that in addition to the previously announced recent completion of the reconfiguration of generator systems to mitigate the limitations of increased power outages, it has also added another new large excavator to its heavy equipment fleet at its Krone-Endora at Venetia diamond mine project (the “Project”).

The Company is pleased to announce it completed the repayment of its current Caterpillar equipment fleet in July of 2023, and this additional large excavator will now provide the Company with the potential for additional processing volume capacities, diamond recoveries, and associated revenues moving forward.

“We are very pleased to have completed the final payments on our existing heavy equipment,” stated Mr. Dean H. Taylor Chief Executive Officer of Diamcor. “The addition of another large excavator provides our Company with redundancy and added capacity as we begin efforts on the previously announced bulk sampling efforts over the greater areas of the Project”.

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded Canadian diamond mining company with a well-established proven history in the mining, exploration, and sale of rough diamonds. The Company’s primary focus is on the mining and development of its Krone-Endora at Venetia Project which is co-located and directly adjacent to De Beers’ Venetia Diamond Mine in South Africa. The Venetia diamond mine is recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Krone-Endora have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company focuses on the acquisition and development of mid-tier projects with near-term production capabilities and growth potential and uses unique approaches to mining that involves the use of advanced technology and techniques to extract diamonds in a safe, efficient, and environmentally responsible manner. The Company has a strong commitment to social responsibility, including supporting local communities and protecting the environment.

About the Tiffany & Co. Alliance

The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About the Krone-Endora at Venetia Project

Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. The Company subsequently announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. These deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of an estimated 1,000 vertical meters of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine, which is widely recognised as one of the top producing diamond mines in the world.

Qualified Person Statement:

Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.

On behalf of the Board of Directors:

Mr. Dean H. Taylor
President & CEO
Diamcor Mining Inc.
www.diamcormining.com

For further information contact:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

For Investor Relations contact:

Mr. Rich Matthews Mr. Neil Simon
Integrous Communications Investor Cubed Inc
rmatthews@integcom.us nsimon@investor3.ca
+1 (604) 355-7179 +1 (647) 258-3310

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

Neither 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.

SOURCE: Diamcor Mining Inc.

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Resources Recaps Mid-Year Milestones and Provides Outlook for Rest of 2023

Vancouver, British Columbia–(Newsfile Corp. – July 18, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to provide a summary of its ongoing strategic activities over the past six months and an outlook for the second half of the year. During this time, the Company has actively expanded in Canada, acquiring new projects and conducting target definition exploration work across its Canadian portfolio. These steps taken in the past six months have strengthened the Company’s move beyond Mexico, which has been progressing for the past two years. Riverside anticipates numerous new Canadian catalysts in the next half-year. With a commitment to advancing its diverse portfolio of mineral assets and leveraging strategic partnerships. To that effect, Riverside has made significant progress in its exploration endeavors, diversifying its commodity mix and expanding into new jurisdictions. In the coming six months, the Company plans to expand its projects beyond precious and base metals, incorporating more critical metal assets and royalties. The key mid-year developments are outlined below:

  • Ontario Canada additional projects and expansion at Pichette with high grade gold drill results.
  • Geophysics exploration funded through Riverside is advancing projects to drill and partnering stage at Duc project with targets expanded in scale by more than 4X.
  • Property consolidation at the high-grade Union Project in Sonora, Mexico and delivering up to 1 oz/ton Au assays in the now controlled mine area.
  • Royalty on Tajitos gold asset, and funds have been received from Fresnillo, who is advancing the asset.
  • Progress toward catalysts now lined up for second half of 2023 with partner deals, exploration results, quality project acquisitions, having strong cash position.

Continued Expansion in Ontario’s Geraldton and Porcupine Mining Districts

Riverside Resources continued to expand and advance its Canadian portfolio during the first half of 2023 by acquiring additional claims at the Pichette Project west of the Hardrock Gold Mine complex of Equinox Gold near Geraldton, Ontario. The Company also acquired the Duc Project in the Porcupine Mining District of northwestern Ontario. The Duc Project, spanning over 600 hectares, is strategically positioned west of the past producing Agrium Ltd. carbonatite phosphate mine with critical metal concentrations and within the highly prospective Wawa Subprovince for Rare Earth Elements (REE) and gold deposits. Riverside’s generative exploration approach using historic data, proprietary databases, and field experience, coupled with personal historic knowledge of the area, aims to unlock the full potential of the Duc Project through additional exploration and joint-venture partnerships. The presence of rare earth element occurrences and orogenic gold deposits within the Wawa Subprovince further enhances the prospectivity of the region as Riverside continues the strategy of generating and owning quality projects in Canada.

Completing a Helicopter Magnetics Survey in Northwestern Ontario

Riverside Resources completed an airborne geophysical helicopter magnetics survey on the Duc Project in northwestern Ontario, which provided greater context for existing data Riverside already defined multi-kilometer structural target prospective for gold and REE -critical metals that can now be progressed during the second half of 2023. This survey employed SHA Geophysics’ Heli-3G technology, offering cost-effective and high-quality results. The magnetic data interpretation revealed two major parallel shears that traverse the central part of the Duc Project, providing important geological boundary information and identifying direct structural zones which are consistent with the style of feature that hosts major gold deposits.

Union District, Sonora, Mexico Consolidation and Advancement

In a strategic move to consolidate the Union Project area, Riverside Resources signed an Option Agreement to acquire the past-producing Union Mine, situated within the Union District of Sonora, Mexico. This district boasts a rich history of high-grade zinc, gold, and silver production from carbonate replacement mines. By securing a 100% undivided right, title, and interest in the Union Mine, Riverside expands its district wide mineral concession coverage and a foothold in the region and establishes a clear path towards advancing exploration targets within this prospective land package.

Rule Symposium July 24-27

Riverside has been selected by Mr. Rick Rule to participate in the Rule Resources Symposium convention in Boca Raton, Florida starting on July 24th, 2023. The Rule Symposium is a sector leading natural resource investing event and an exhibitor by invitation only conference that Riverside has been chosen for again this year. Riverside’s CEO and VP Corporate Communications will attend in person to give presentations and meet investors. To that effect, please view Dr. John-Mark Staude’s (our CEO) pre-conference interview with Rick Rule at the following link: https://www.youtube.com/watch?v=NDj43hCJwgo&t=117s

Looking Ahead: Riverside’s Plans for the Next Six Months

Building on the accomplishments of the past six months, Riverside Resources is progressing a targeted agenda for the remainder of 2023. The Company plans to have catalysts on the following key initiatives:

  • Expand the generative portfolio with a low cost but high value in British Columbia, Canada quality projects in precious and critical metals. Assay results, mineral claims, mineralization zones all to be progressed during coming half year.
  • Progress exploration in Ontario including work up targets in the field and completing technical reports and documentation of the value so far created and now moving toward transactions.
  • Exploration and Joint-Venture Partnerships: Riverside’s robust portfolio of mineral assets and royalties in North America presents significant opportunities for strategic partnerships. The Company continues developing and progressing joint-venture and spin-out collaborations to accelerate the advancement of multiple assets simultaneously, fostering a greater chance of discovery leading to added shareholder value.
  • Royalty assets engage in potential value catalyst steps with the portfolio and now with Fresnillo progressing their development of the Tajitos district toward future open pit heap leach gold mining where Riverside has the 2% NSR on Tajitos and Tejo mineral concessions.
  • Continued Financial Prudence and Value Generation: Riverside Resources remains financially strong, with well over $7 million in cash and zero debt. The Company’s prudent financial management ensures sustainable exploration programs and underscores its commitment to generating value for shareholders.
  • Investor Engagement and Communication: Riverside Resources recognizes the importance of transparent and effective communication with its valued shareholders and the investment community. The Company will continue to provide timely updates, reports, and engagement opportunities to foster a strong and supportive investor base.

Riverside Resources remains focused on its mission to generate value and continue work towards mineral discoveries while adhering to very thorough environmental standards and social responsibility. Riverside has a strong upcoming set of catalysts with results from Canada and Mexico. To that effect, with its current sector leading gold portfolio in Ontario and now expanding into strong projects in British Columbia, the Company believes that it’s on the right path in progressing towards an exciting second half of 2023.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has a strong cash position, no debt and less than 75M shares outstanding with a quality portfolio of gold-silver and copper assets, along with royalties in North America. Riverside has extensive experience and knowledge in operating in Canada and Mexico, while leveraging its large databases to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

John-Mark Staude
President, CEO
Riverside Resources Inc.
info@rivres.com
Phone: (778) 327-6671
Fax: (778) 327-6675
Web: www.rivres.com

Mehran Bagherzadeh
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web: www.rivres.com

Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

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