Category: Precious Metals

Bravo Discovers New Nickel-rich Zone in Luanga’s Central Sector and Extends Footprint of Nickel/Copper-rich Zone in Luanga’s North Sector

Post author By admin
Post date February 14, 2023

Highlights include 27.7m @ 0.62g/t PGM+Au, 0.62% Ni (Including 4.6m @ 1.12g/t PGM+Au plus 1.12% Ni),
And: 25.3m @ 1.14g/t PGM+Au, 0.42% Ni, 0.34% Cu (Including 3.4m @ 2.12g/t PGM+Au, 0.84% Ni, 0.34% Cu)

VANCOUVER, BC, Feb. 14, 2023 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (“Bravo” or the “Company“) announced that it has received assay results from eight diamond drill holes (“DDH”) in the Central and North Sectors highlighting the nickel sulphide potential of its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga” or “Luanga PGM+Au+Ni Project“), located in the Carajás Mineral Province, state of Pará, Brazil. Two DDH in the Central Sector have identified a new zone and style of nickel sulphide mineralization. Follow up drilling to the previously announced massive sulphide intercept in the North Sector (August 16^th, 2022 news release) has intersected higher-grade nickel sulphide 50m to the north and south, with evidence indicating potential extensions toward the south.

“Today’s results demonstrate the potential for higher-grade nickel ± copper sulphides at Luanga, underlie the existing ~8.1km strike of PGM+Au+Ni mineralization intersected in shallow historic drilling,” said Luis Azevedo, Chairman and CEO of Bravo. “We are at the early stages of understanding the distribution of, and controls on, this potential new style of nickel ± copper sulphide mineralization, which has now been intersected in both the North and Central Sectors,” he said. “We are very positive about the potential below Luanga and have deployed geophysical tools aimed at detecting this style of mineralization. Work is continuing and aims to drill test future geophysical targets in 2023.”

Highlights Include:

Follow up, step-out drilling to the massive nickel/copper sulphides intercepted in DDH22LU047 (August 16^th, 2022 news release) intersected nickel/copper sulphides along strike, 50m to the north and to the south. Electromagnetics (EM) has identified conductors trending to the south where surface EM is ongoing.
Drilling in the Central Sector of Luanga has intersected a new zone and style of nickel sulphide mineralization, potentially magmatic nickel sulphide mineralization. It occurs within a different rock-type than the PGM+Au+Ni mineralization at Luanga – further increasing the exploration prospectivity of Luanga. EM surveying is expected to begin shortly.
A noticeable change in PGM chemistry (significantly higher rhodium to palladium ratio) has been identified in most assay results from both nickel sulphide zones. This also points to a new style of mineralization and provides another possible vector into higher nickel sulphide zones.

HOLE-ID	From(m)	To(m)	Thickness (m)	Pd(g/t)	Pt(g/t)	Rh(g/t)	Au (g/t)	PGM + Au (g/t)	Ni (% Sulphide)	Cu (%)	Sector
DDH22LU039	128.2	155.9	27.7	0.40	0.10	0.11	0.01	0.62	0.42		Cent.
Including	128.2	132.8	4.6	0.74	0.12	0.25	0.01	1.12	1.12		Cent.
Including	130.2	131.2	1.0	1.08	0.25	0.51	0.01	1.85	2.08		Cent.
DDH22LU049	49.6	74.9	25.3	0.68	0.22	0.13	0.12	1.14	0.40	0.23	North
Including	66.9	70.3	3.4	1.18	0.52	0.29	0.12	2.12	0.84	0.34	North
DDH22LU052	151.0	158.1	7.1	0.69	0.04	0.30	0.11	1.13	0.82	0.45	North
Including	151.0	153.8	2.8	0.76	0.02	0.39	0.01	1.18	1.09	0.22	North
DDH22LU061	102.4	103.6	1.2	0.55	0.04	0.31	0.15	1.05	1.18		Cent.
DDH22LU073	136.9	155.8	18. 9	0.96	0.29	0.02	0.02	1.30	0.41		North
Including	150.8	153.8	3.0	2.57	0.50	0.04	0.02	3.14	1.15		North
DDH22LU077	169.4	175.5	6.1	0.57	0.04	0.33	0.02	0.96	0.63		North
Including	169.4	171.3	1.9	1.33	0.05	0.84*	0.04	2.27*	1.47		North
Including	170.6	171.3	0.7	1.54	0.04	>1.0*	0.01	2.59*	2.27		North

Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.

All intercepts were in fresh rock.

Given the orientation of the hole and the mineralization, the intercepts are estimated to be 85% to 100% of true thickness.

* Includes Rh >1.00g/t result. Overlimit analyses pending.

North = North Sector. Cent. = Central Sector.
** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.

Central Sector Magmatic Nickel Sulphide Exploration Upside

Drilling in the Central Sector (holes DDH22LU039 and DDH22LU061) identified a second zone of more concentrated magmatic sulphides, a style of mineralization not previously observed at Luanga in historic drilling. This style of mineralization features net-textures typical of magmatic nickel sulphide mineralization (Figure 1).

Figure 1: Core photos from Central Sector (039) and North Sector (049 and 052) with nickel ± copper sulphide mineralization. (CNW Group/Bravo Mining Corp.)

The Central Sector higher-grade magmatic nickel sulphide mineralization appears to be coincident with the main Luanga PGM mineralization but appears to have increasing concentrations of nickel sulphides to depth, while historic nickel-in-soil geochemistry (Figure 2) indicates that nickel sulphide mineralization may be gently diverging away from the strike of the PGM+Au mineralization. This style of mineralization has only been identified in this area of the Luanga deposit to date and is hosted in the basal sequence of harzburgites (ultramafic rocks) that underlie the dominant Luanga orthopyroxenite PGM+Au host rock.

Surface EM completed by Bravo in late 2022 is being extended to the southeast to look deeper into the basal harzburgite sequence (Figure 3) that underlies the main PGM+Au+Ni mineralization, beyond the extent of current drilling.

The Central Zone assay results (reported in this news release) from drill holes DDH22LU039 and DDH22LU061 demonstrate a noticeable change in PGM chemistry, where the Pd:Rh ratios range from 4:1 to <2:1. This is a significant divergence from the majority of existing drill holes across the 8.1km of the main Luanga PGM+Au mineralized zone, where the Pd:Rh ratio is typically ~10:1. There could also be a relationship between magmatic nickel and rhodium (high rhodium values highlighted in the table above). This, combined with the identification of a different host rock, is further supporting evidence of a new style or phase of mineralization that is more typically associated with magmatic nickel sulphide deposits. Mineralization remains open at depth (Figure 3) and along strike.

Figure 2: Nickel sulphide zone in the Central Sector, shown over historic Ni-in-soil geochemistry. (CNW Group/Bravo Mining Corp.)

DDH22LU039 is shown in the section below (Figure 3), where the concentration of magmatic nickel sulphides and nickel assay grades increase (from west to east) from DDH22LU054 where fresh rock mineralization has no significant nickel to report, to DDH22LU039 where magmatic nickel sulphides and assay grades reach their current peak.

Figure 3: Central Zone cross section showing the increase in nickel grade to the southeast (open at depth). (CNW Group/Bravo Mining Corp.)

Follow Up on North Sector Massive Magmatic Nickel ± Copper Sulphide Discovery

Follow up drilling to the north and south of the previously announced massive magmatic nickel ± copper sulphide mineralization in DDH22LU047 (August 16^th, 2022 news release) in the North Sector has continued to intersect magmatic nickel sulphide mineralization.

New drill results indicate that the nickel ± copper mineralization is coincident with the main Luanga PGM+Au+Ni deposit, but that higher concentrations of nickel and copper are at depth. Alternatively, this mineralization style may be unrelated to the emplacement of the PGM portion of Luanga and related to a different, as yet unidentified, phase of mineralization at depth.

Higher-grade sulphide mineralization and EM anomalism is open to the south (Figure 4) but appears to taper off to the north. Like the Central Sector above, it may also be diverging away from the strike of the PGM+Au mineralization and occur below historic drilling to the south. This interpretation is supported to the southern limit of the current EM survey and is coincident with historic nickel-in-soil geochemistry (Figures 4 and 5).

Most assay results demonstrate the same noticeable change in PGM chemistry as the higher-grade magmatic sulphide mineralization intersected in the Central Zone, with Pd:Rh ratios ranging from to 5:1 to <2:1. As highlighted above this may indicate potential for a different phase or style of mineralization at depth.

Figure 4: Nickel ± copper sulphide zone in the North Sector, shown over historic Ni-in-soil geochemistry. (CNW Group/Bravo Mining Corp.)

Figure 5: North Sector Cross Section showing new drill holes DDH22LU052 and DDH22LU049 (open at depth). (CNW Group/Bravo Mining Corp.)

Luanga Drill Program Progress

A total of 144 drill holes (9 in 2023) have been completed by Bravo to date, for 23,950 metres (94% of the planned 25,500 metre Phase 1 Drilling Program), including all 8 planned twin holes (results for 2 twin holes outstanding) and all 8 metallurgical holes (not for routine assaying). Results have been reported for 60 Bravo drill holes to date.

Results for 76 Bravo drill holes are currently outstanding.

The Phase 1 diamond drill program is close to completion, with 1,550m remaining before the commencement of the Phase 2 diamond drill program. The Phase 2 program will be focused on step out drilling (with the objective of extending known zones of PGM+Au+Ni mineralization to depth), follow-up on the newly identified higher-grade nickel ± copper magmatic sulphide mineralization styles, as well as exploration of new targets.

Aside from systematic step-out drilling, the Phase 2 program is designed to support a more intensive approach to exploration, with work to focus on exploring for magmatic nickel ± copper sulphides. This program will commence with an extensive program of geophysics consisting of ground EM, ground micro-gravity and ground magnetics. Targets generated would be drill tested during the Phase 2 program. Phase 2 will also include ongoing metallurgical test work designed to confirm and optimize metallurgical results reported by Vale SA., Luanga’s previous owner.

The key deliverable expected from the Phase 1 program is Luanga’s maiden NI 43-101 Mineral Resource Estimate (MRE). Approximately 3,600m of priority drilling remains to be completed to facilitate this work, including the balance of the Phase 1 program and a portion of the Phase 2 program. Completion of the maiden MRE remains on track for H2/2023.

Complete Table of Recent Intercepts

HOLE-ID	From(m)	To(m)	Thickness (m)	Pd(g/t)	Pt(g/t)	Rh(g/t)	Au (g/t)	PGM + Au (g/t)	Ni (% Sulphide)	Cu (%)	TYPE
DDH22LU039	41.2	61.2	21.0	0.54	0.19	0.00	0.11	0.83	0.15		FR
And	80.1	106.2	26.1	0.56	0.22	0.00	0.14	0.92	0.20		FR
Including	91.2	98.2	7.0	0.44	1.11	0.01	0.17	1.72	0.32		FR
And	128.2	155.9	27.7	0.40	0.10	0.11	0.01	0.62	0.42		FR
Including	128.2	132.8	4.6	0.74	0.12	0.25	0.01	1.12	1.12		FR
Including	130.2	131.2	1.0	1.08	0.25	0.51	0.01	1.85	2.08		FR
And	161.9	166.9	5.0	0.35	0.15	0.07	0.01	0.58	0.23		FR
DDH22LU049	8.7	16.7	8.0	0.71	0.26	0.02	0.10	1.08	NA		Ox
And	49.6	74.9	25.3	0.68	0.22	0.13	0.12	1.14	0.40	0.23	FR
Including	49.6	58.3	8.7	0.79	0.19	0.09	0.19	1.26	0.38	0.36	FR
Also Including	66.9	70.3	3.4	1.18	0.52	0.29	0.12	2.12	0.84	0.34	FR
And	78.4	92.4	14.0	0.42	0.14	0.04	0.08	0.68	0.23	0.22	FR
DDH22LU052	151.0	158.1	7.1	0.69	0.04	0.30	0.11	1.13	0.82	0.45	FR
Including	151.0	153.8	2.8	0.76	0.02	0.39	0.01	1.18	1.09	0.22	FR
Also Including	154.3	158.1	3.8	0.73	0.05	0.27	0.19	1.24	0.73	0.68	FR
And	161.9	164.5	2.6	0.58	0.06	0.28	0.01	0.94	0.72	0.26	FR
And	199.0	215.2	16.2	0.40	0.46	0.03	0.01	0.89	0.32	0.09	FR
DDH22LU061	59.3	65.8	6.5	0.49	0.19	0.00	0.13	0.81	0.09		FR
And	88.5	91.5	3.0	0.90	0.30	0.00	0.24	1.44	0.19		FR
And	102.4	103.6	1.2	0.55	0.04	0.31	0.15	1.05	1.18		FR
And	121.3	127.3	6.0	0.26	0.14	0.03	0.09	0.52	0.21		FR
And	139.0	150.8	11.8	0.27	0.10	0.02	0.02	0.41	0.18		FR
DDH22LU068	39.5	42.5	3.0	1.35	0.73	0.10	0.01	2.18	0.07		FR
And	54.4	62.2	7.8	0.33	0.10	0.02	0.01	0.45	0.30		FR
DDH22LU073	113.6	116.8	3.2	0.89	0.44	0.03	0.01	1.37	0.39		FR
And	127.8	129.5	1.7	0.89	5.11	0.05	0.01	6.06	0.32		FR
And	136.9	155.8	18. 9	0.96	0.29	0.02	0.02	1.30	0.41		FR
Including	150.8	153.8	3.0	2.57	0.50	0.04	0.02	3.14	1.15		FR
DDH22LU077	169.4	175.5	6.1	0.57	0.04	0.33	0.02	0.96	0.63		FR
And	169.4	171.3	1.9	1.33	0.05	0.84*	0.04	2.27*	1.47		FR
Including	170.6	171.3	0.7	1.54	0.04	>1.0*	0.01	2.59*	2.27		FR
And	204.1	207.1	3.0	0.27	0.01	0.00	0.01	0.28	0.29		FR
And	220.1	232.1	12.0	0.28	0.13	0.02	0.03	0.46	0.12		FR
DDH22LU079	179.3	199.3	20.0	0.23	0.11	0.04	0.01	0.39	0.19		FR
including	196.3	199.3	3.0	0.58	0.18	0.12	0.01	0.88	0.51		FR

Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.

Given the orientation of the hole and the mineralization, the intercepts are estimated to be 85% to 100% of true thickness.

Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.

* = Includes Rh >1.00g/t result. Overlimit analyses pending.

** = Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays

Figure 6: Location of Bravo Drilling Reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.

Technical Disclosure

Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified person”, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“). Mr. Mottram has verified the technical data and opinions contained in this news release.

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “rich”, “extends”, “new zone”, “potential”, “higher-grade”, “very positive”, “concentrated“, “noticeable change”, “majority”, “new style“, “significant“, “intensive approach“, “extensive“, “optimize“, “yet unidentified”, “objective” and other similar words, phrases, or statements that certain events or conditions “may”, “should”, “will” or “would” occur. This news release contains forward-looking information pertaining to the Company’s ongoing re-sampling and drill programs and the results thereof; the expected completion of geophysical surveys and the results of such surveys; the potential for the definition o new styles of mineralization and extensions to depth and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that grades are improving to depth, that final drill and assay results will be in line with management’s expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-ID	Company	East (m)	North (m)	RL (m)	Datum	Depth (m)	Azimuth	Dip	Sector
DDH22LU039	Bravo	658669.93	9340730.09	262.74	SIRGAS2000 UTM22S	177.70	330.00	-60.00	Central
DDH22LU049	Bravo	659975.11	9342475.00	270.59	SIRGAS2000 UTM22S	159.30	90.00	-60.00	North
DDH22LU052	Bravo	659825.80	9342475.01	274.16	SIRGAS2000 UTM22S	233.20	90.00	-60.00	North
DDH22LU061	Bravo	658595.91	9340659.10	271.55	SIRGAS2000 UTM22S	191.00	330.00	-60.00	Central
DDH22LU068	Bravo	659900.11	9342525.01	280.91	SIRGAS2000 UTM22S	251.00	90.00	-60.00	North
DDH22LU073	Bravo	659900.09	9342425.00	273.40	SIRGAS2000 UTM22S	270.85	90.00	-60.00	North
DDH22LU077	Bravo	659824.96	9342524.96	279.74	SIRGAS2000 UTM22S	264.20	90.00	-60.00	North
DDH22LU079	Bravo	659822.30	9342425.01	270.84	SIRGAS2000 UTM22S	250.50	90.00	-60.00	North

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in the analytical guides.

Quality Assurance and Quality Control (“QAQC“) is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo ALS
Preparation	Method	Method	Method	Method	Method
For All Elements	Pt, Pd, Au	Rh	Ni-Sulphide	Cu	Trace Elements
PREP-31DH	PGM-ICP27	Rh-MS25	Ni-ICP05	OG-62	ME-ICP61

Bravo Mining LOGO (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

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Base Metals Energy Junior Mining Precious Metals

The Key Minerals in an EV Battery

Post author By admin
Post date February 12, 2023

Breaking Down the Key Minerals in an EV Battery

Inside practically every electric vehicle (EV) is a lithium-ion battery that depends on several key minerals that help power it.

Some minerals make up intricate parts within the cell to ensure the flow of electrical current. Others protect it from accidental damage on the outside.

This infographic uses data from the European Federation for Transport and Environment to break down the key minerals in an EV battery. The mineral content is based on the ‘average 2020 battery’, which refers to the weighted average of battery chemistries on the market in 2020.

The Battery Minerals Mix

The cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals. This figure excludes materials in the electrolyte, binder, separator, and battery pack casing.

Mineral	Cell Part	Amount Contained in the Avg. 2020 Battery (kg)	% of Total
Graphite	Anode	52kg	28.1%
Aluminum	Cathode, Casing, Current collectors	35kg	18.9%
Nickel	Cathode	29kg	15.7%
Copper	Current collectors	20kg	10.8%
Steel	Casing	20kg	10.8%
Manganese	Cathode	10kg	5.4%
Cobalt	Cathode	8kg	4.3%
Lithium	Cathode	6kg	3.2%
Iron	Cathode	5kg	2.7%
Total	N/A	185kg	100%

The cathode contains the widest variety of minerals and is arguably the most important and expensive component of the battery. The composition of the cathode is a major determinant in the performance of the battery, with each mineral offering a unique benefit.

For example, NMC batteries, which accounted for 72% of batteries used in EVs in 2020 (excluding China), have a cathode composed of nickel, manganese, and cobalt along with lithium. The higher nickel content in these batteries tends to increase their energy density or the amount of energy stored per unit of volume, increasing the driving range of the EV. Cobalt and manganese often act as stabilizers in NMC batteries, improving their safety.

Altogether, materials in the cathode account for 31.3% of the mineral weight in the average battery produced in 2020. This figure doesn’t include aluminum, which is used in nickel-cobalt-aluminum (NCA) cathode chemistries, but is also used elsewhere in the battery for casing and current collectors.

Meanwhile, graphite has been the go-to material for anodes due to its relatively low cost, abundance, and long cycle life. Since the entire anode is made up of graphite, it’s the single-largest mineral component of the battery. Other materials include steel in the casing that protects the cell from external damage, along with copper, used as the current collector for the anode.

Minerals Bonded by Chemistry

There are several types of lithium-ion batteries with different compositions of cathode minerals. Their names typically allude to their mineral breakdown.

For example:

NMC811 batteries cathode composition:
80% nickel
10% manganese
10% cobalt
NMC523 batteries cathode composition:
50% nickel
20% manganese
30% cobalt

Here’s how the mineral contents differ for various battery chemistries with a 60kWh capacity:

With consumers looking for higher-range EVs that do not need frequent recharging, nickel-rich cathodes have become commonplace. In fact, nickel-based chemistries accounted for 80% of the battery capacity deployed in new plug-in EVs in 2021.

Lithium iron phosphate (LFP) batteries do not use any nickel and typically offer lower energy densities at better value. Unlike nickel-based batteries that use lithium hydroxide compounds in the cathode, LFP batteries use lithium carbonate, which is a cheaper alternative. Tesla recently joined several Chinese automakers in using LFP cathodes for standard-range cars, driving the price of lithium carbonate to record highs.

The EV battery market is still in its early hours, with plenty of growth on the horizon. Battery chemistries are constantly evolving, and as automakers come up with new models with different characteristics, it’ll be interesting to see which new cathodes come around the block.

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BOB MORIARTY – Are You Ready – Debt vs. Resources

Post author By admin
Post date February 12, 2023

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Junior Mining Lion One Metals Precious Metals

Lion One Receives US$23 Million from 1st Tranche of Nebari Financing Facility and Closes US$2 Million Equity Private Placement

Post author By admin
Post date February 10, 2023

North Vancouver, British Columbia–(Newsfile Corp. – February 10, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) announces the Company has completed its previously announced debt and equity financing transaction and has received total proceeds of US$25 million from: i) the funding of the US$23 million 1^st tranche (“Tranche 1“) of its previously announced US$37 million financing facility (the “Financing Facility“) provided by Nebari Gold Fund 1, LP, Nebari Natural Resources Credit Fund I, LP and Nebari Natural Resources Credit Fund II, LP (collectively, “Nebari“), and (ii) Nebari’s completion of a US$2 million equity private placement in the Company, for the development of Lion One’s 100% owned Tuvatu Alkaline Gold Project in Fiji (the “Equity Investment“).

In addition to Tranche 1, an additional US$12 million is available under the Financing Facility at Lion One’s option in up to two further tranches which may be drawn on by Lion One within 18 months of the date of the Financing Facility. The Equity Investment involved Nebari’s subscription for 3,125,348 common shares of Lion One (“Common Shares“) priced at CAD$0.86 per Common Share.

In connection with the funding of Tranche 1, 15,333,087 warrants (the “Warrants“) have been issued to Nebari with each Warrant exercisable into one Common Share at a price of CAD$1.49 for a period of 42 months from the date hereof. The Warrants are non-transferable and will be subject to an accelerator provision whereby the Borrower may accelerate the expiry date of up to 25% of the Warrants in the event that the volume weighted average trading price of the Common Shares exceeds 100% over the strike price for a period of twenty consecutive trading days on the TSX-V. Lion One has the option to accelerate the expiry of further 25% portions of the Warrants at four-month intervals, up to a maximum of 75% of the Warrants.

The Common Shares subscribed for pursuant to the Equity Investment and the Warrants will be subject to a hold period expiring May 11, 2023 in accordance with Canadian securities laws and policies of the TSX-V. Neither the Common Shares subscribed for pursuant to the Equity Investment nor the Warrants have been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.

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

About Nebari
Nebari is a US-based investment manager specializing in privately offered pooled investment vehicles including Nebari Gold Fund 1, LP, Nebari Natural Resources Credit Fund I, LP and Nebari Natural Resources Credit Fund II, LP which are funding the Financing Facility to Lion One. The Nebari leadership team has deep experience with leading global mining companies and financial institutions and is known for partnering with motivated and capable management teams focused on achieving clear plan targets.

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

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154355

Tags #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #WalterBerukoff, proven and probable, Quinton Hennigh

Base Metals Collective Mining Energy Junior Mining Precious Metals

Ari Sussman from Collective Mining to Present at OTC Markets Group Precious Metals Virtual Investor Conference on February 15th, 2023

Post author By admin
Post date February 9, 2023

TORONTO, Feb. 8, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) will be presenting at the OTC Markets Group Precious Metals Virtual Investor Conference on Wednesday, February 15, 2023, at 11:00am ET.

Using the link below, investors can register and listen to the presentation, and take part in a question and answer session at the end. The presentation is expected to last 30 minutes.

DATE: Wednesday, February 15, 2023
TIME: 11:00am ET – 11:30am ET
LINK: https://bit.ly/3JCTs89

Please log in 5-10 minutes early to register. An archived webcast will also be made available after the event.

Ari Sussman, Executive Chairman of Collective Mining will be providing an overview and will discuss the Company’s “Main Breccia” discovery at the Apollo target. The Main Breccia discovery is a high-grade and bulk tonnage, copper-silver-gold porphyry-related breccia system characterized by two main, yet distinct pulses of mineralized fluids flooding the breccia with metals.

The Company’s Guayabales project is located in the mining-friendly department of Caldas, Colombia, in the heart of a long-established mining camp with ten fully permitted and operating mines located within three kilometres of the project. As a result, the Guayabales project is blessed with excellent infrastructure with roads and hydroelectric powerlines traversing the project and an abundant labour force located nearby in the townships of Supia and Marmato.

The phase II drilling program is underway with three rigs currently operating focused on testing near surface mineralization and expanding the dimensions of the Main Breccia system. Assay results are expected in the near term for the final three holes of the 2022 program, including westwards step-out hole APC-28, which cut more than 600 metres of continuous mineralization. Additionally, the first hole of the Phase II program is now complete, and core has been dispatched to the lab for assaying.

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver and gold Main Breccia discovery. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia discovery while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own approximately 52% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.

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

SOURCE Collective Mining Ltd.

Tags #AriSussman, #Guayabales, #MauriceJackson, #MilesFranklin, #ProvenAndProbable, Apollo Target, Collective Mining, proven and probable

Precious Metals

Strong China Demand Boosts Gold Rally

Post author By admin
Post date February 8, 2023

Month of January 2023

Indicator	1/31/2023	12/30/2022	Change	Mo % Chg	YTD % Chg	Analysis
Gold Bullion¹	$1,928.36	$1,824.02	$104.34	5.72%	5.72%	Best January since 2015, best three months since 2011
Silver Bullion²	$23.73	$23.95	($0.22)	(0.94)%	(0.94)%	First negative month since August
NYSE Arca Gold Miners (GDM)³	897.17	805.50	91.67	11.38%	11.38%	Now up 47.7% from the lows
Bloomberg Comdty (BCOM Index)⁴	111.80	112.81	(1.01)	(0.89)%	(0.89)%	Narrow range since August
DXY US Dollar Index⁵	102.10	103.52	(1.43)	(1.38)%	(1.38)%	Largest three-month drop since 2009
S&P 500 Index⁶	4,076.60	3,839.50	237.10	6.18%	6.18%	Breaking out from year-long downtrend
U.S. Treasury Index	$2,243.23	$2,188.39	$54.84	2.51%	2.51%	Oversold cyclical low
U.S. Treasury 10 YR Yield*	3.51%	3.87%	(0.37)%	-37 BPS	-37 BPS	Testing rising 200-day moving average
U.S. Treasury 10 YR Real Yield*	1.26%	1.57%	(0.31)%	-31 BPS	-31 BPS	Topping process
Silver ETFs** (Total Known Holdings ETSITOTL Index Bloomberg)	760.17	749.00	11.18	1.49%	1.49%	First real uptick since summer selling
Gold ETFs** (Total Known Holdings ETFGTOTL Index Bloomberg)	93.17	93.75	(0.58)	(0.62)%	(0.62)%	Last positive month was April 2022

Source: Bloomberg and Sprott Asset Management LP. Data as of January 31, 2023.
*Mo % Chg and YTD % Chg for this Index are calculated as the difference between the month end’s yield and the previous period end’s yield, instead of the percentage change. BPS stands for basis points. **ETF holdings are measured by Bloomberg Indices; the ETFGTOTL is the Bloomberg Total Known ETF Holdings of Gold Index; the ETSITOTL is the Bloomberg Total Known ETF Holdings of Silver Index.

January Review

Gold had another strong month and the best start to a year since 2015 as spot gold rose $104.34 (or 5.72%) to close January at $1,928.36. While the gold price was supported by the decline in the U.S. dollar (USD) and real yields in January, the magnitude and persistence of the bid for gold were high. Gold bullion trading desks have confirmed this strong interest is a continuation of flow demand from China since early November 2022, and the estimated tonnages bought would align with the most significant numbers since 2017. Price action and trading desk anecdotes denote large buying from China’s “official sector” (possibly any combination of People’s Bank of China, central bank-related entities or state banks) for undisclosed reasons.

January was a solid month for risk assets as investment funds were underexposed for a positive, right-tail⁸ outcome. The significant left-tail risks of 2022 quickly faded or reversed as we headed toward the new year. In the U.S., fears of hyperinflation and additional Federal Reserve (“Fed”) rate hikes ended abruptly as the Fed signaled it would slow its rate hikes just as inflation data finally moderated. In Europe, a far warmer-than-expected winter prevailed, allowing the EU to dodge the worst of an energy-spiking-induced hard landing and associated stress events. After years of a strict zero-COVID policy, China quickly reversed to a full re-opening, instantly giving the world an unexpected growth shock. With all three major economic regions experiencing a sudden reversal from left-tail (negative) to right-tail (positive) outcomes, massive forced buying was triggered.Gold has outperformed U.S. Treasuries over the past two decades despite the bond market having the advantages of a dovish accommodative Fed.

Furthermore, with the pause in Fed rate hikes in sight, both the USD and interest rates declined sharply, easing financial conditions and paving the way for a rebound in many financial assets. Whether this rally is the beginning of the consensus-desired soft landing or yet another bear market rally remains to be seen. We expect that macro volatility will likely remain high in the months ahead.

Gold Bullion Update

Gold bullion since the autumn lows, based on a three-month rate of change, had the most significant increase since 2011. Since the lows, the gold price has broken through technical resistance levels and Fibonacci retracement levels⁹ with remarkable ease, reinforcing the evidence that the buyer(s) are not likely financial market types. From gold’s early November lows of approximately $1,625 to $1,775, the price action has the look and feel of short covering in the face of an aggressive buyer. But since gold has reached the $1,775 level, the narrow up-channel and low bid-ask dispersion indicate a persistent large bid in gold that is not concerned with market-related overbought conditions. Lastly, the weekly Relative Strength Index (RSI)¹⁰ put in a positive divergence during the autumn lows and has broken above the RSI downtrend line (lower panel of Figure 1).

Figure 1. Gold Bullion Rally with Technical Strength

Gold Bullion Rally
Source: Bloomberg. Data as of 1/31/2023. Included for illustrative purposes only. Past performance is no guarantee of future results.

Gold Investment Positioning Remains Low

Despite the rise in gold, the long gold CFTC(Commodity Futures Trading Commission) net non-commercial positions and ETF holdings remain muted, like a deer caught in a headlight (Figure 2). Gold held in ETFs (mainly retail and smaller funds) remain near +2.5-year lows and has not shown any buying indication yet. CFTC non-commercial long gold positioning, too, remains near the low end of its 10-year range. Neither of these two sources of investment “longs” is likely to sell off further as they are more trend-following than leading. The last source of investment flows, short positions, are even less likely to add to selling flows. Firstly, there is no overriding primary bearish macro driver (interest rate hikes are near the end, and the USD is weakening); secondly, shorting into massive buying is outright dangerous. The combined CFTC gold longs plus ETF gold holdings are now at their -2 standard deviation lows (lower panel, Figure 2) with macro drivers positive and massive buying from China and central banks. The risk from long positioning remains skewed to increasing longs, not divestment.

Figure 2. Gold Investment Demand Remains Muted

Source: Bloomberg. Data as of 1/31/2023. Included for illustrative purposes only. Past performance is no guarantee of future results.

U.S. Dollar Strength and U.S. Treasury Liquidity Functioning

The US Dollar Index (DXY) reached the upper end of its 16-year-long uptrend and has now fallen at a remarkable pace last seen in the volatile years of 2008 to 2010. The 3-month rate of change of DXY has recorded its second sharpest decline in the past 20 years. This dramatic fall in the USD has also eased financial conditions, creating a powerful tailwind for gold and other risk assets. Typically, policy coordination comes to mind when currencies sharply reverse from levels detrimental to market functioning quickly, with such high correlations. Unfortunately, if policymakers have decided on a coordinated USD strength reduction policy, we won’t know until much later when it becomes evident in hindsight.

The Bloomberg US Government Securities Liquidity Index (a measure of liquidity condition for U.S. Treasuries) surpassed the crisis levels of March 2020, the last time the Fed was forced to intervene to restore market functioning with interest rate cuts, liquidity injections, swap facilities, etc. Generally, a strong USD reduces systematic market liquidity, and Figure 3 highlights this relationship. The U.S. Treasury Market is the world’s largest and most liquid market. If it were to cease functioning properly, the spillover effects could be catastrophic in an overleveraged financial system under the wrong conditions. We would expect the days of runaway USD strength will not be allowed due to liquidity functioning alone.

Figure 3. U.S. Dollar Index and U.S. Treasury Liquidity Index

Source: Bloomberg. Data as of 1/31/2023. Included for illustrative purposes only. Past performance is no guarantee of future results.

Foreign Selling of U.S. Treasuries is Accelerating

Foreign holdings of U.S. Treasuries as a percentage of total holdings peaked in 2013, a decade ago. Most of this time, the Fed provided QE (quantitative easing) programs, negating the need for foreign funding of Treasuries. In Figure 4, we highlight foreign ownership of U.S. Treasuries and the rapidly decreasing percentage of foreign ownership of U.S. Treasuries. In March 2022, foreign holders saw notable selling (~$516 billion). There were several reasons, including 1) the Fed ending its latest QE program; 2) geopolitics (the Russia-Ukraine war and intensifying de-globalization; 3) the start of an aggressive string of Fed rate hikes along with tightening by other central banks; 4) USD weaponization had been occurring for several years, but the seizure of Russia’s foreign exchange (FX) reserves was likely the final straw. After these events, U.S. Treasury Liquidity began to deteriorate, even worse than in March 2020. Without liquidity support for U.S. Treasuries, the probability of another QE program (or a variation built around YCC, i.e., yield curve control) within the next few years is no longer remote, even in the face of high inflation.

Figure 4. Foreign Buyers are Dumping U.S. Debt

Source: Bloomberg. Data as of 1/31/2023. Included for illustrative purposes only. Past performance is no guarantee of future results.

China Replacing U.S. Treasuries with Gold?

Since 2008, China has been the largest foreign holder of U.S. Treasuries. Though the peak has been in place since 2013, China has recently accelerated its selling of Treasuries. The reason for China selling U.S. Treasury securities are varied and not disclosed. Still, since the U.S. sanctioned Russia’s FX reserves, China has a tremendous incentive to diversify its foreign exchange reserves. Figure 5 highlights the cumulative change in China’s gold imports and U.S. Treasures since 2018, measured in USD. 2018 was the first year of the U.S.-China trade war. The recent accelerated selling in U.S. Treasuries occurred at the start of the Russia-Ukraine war and in response to sanctions on Russia’s FX reserves. We expect China to continue reducing its U.S. Treasuries holdings as the economic war extends and intensifies, and the risk of future U.S. sanctions on China’s FX reserves remains present.

Since 2018, we estimate that China has sold $310 billion of U.S. Treasuries ($199 billion in 2022 alone) and has imported $230 billion of gold. China is estimated to have the seventh-largest global bond market, with the top six positions held by the U.S. and its allies. The list of the most liquid tradeable currencies has the same size ranking. In terms of market liquidity, safety as outside money and convertibility (sanctions resistant), gold remains a highly desirable asset for China.

Figure 5. China Buys Gold and Sells U.S. Bonds

Figure 5. China Selling U.S. Treasuries and Buying Gold
Source: Bloomberg. Data as of 11/30/2022. Included for illustrative purposes only. Past performance is no guarantee of future results.

Japan Yield Curve Control (YCC) and Selling U.S. Treasuries

The Bank of Japan (BoJ) began yield curve control in 2016 (0.25% cap on its 10-year yield) to achieve an inflation target of 2% and stimulate economic growth by controlling long-term interest rates. By late 2022, the BoJ did “technically” achieve its goals, although not the hoped-for “virtuous growth cycle” outcome. However, the costs were enormous as global yields soared while Japanese government bond (JGB) yields were capped at 0.25% by the BoJ. The yen had fallen in value by 22.5%, driving import cost inflation so high that the Ministry of Finance had to intervene in the currency market to defend the yen, while at the same time, the BoJ continued with YCC weakening the yen. If this makes no sense, then you have read this correctly.

In December 2022, in a surprise move, the BoJ lifted the YCC cap to 0.50% from 0.25%, signaling to the market that the BoJ YCC had likely reached its best-before date. Since then, the yen has strengthened by ~15%, contributing to USD weakness. Capping JGB yields in the second half of 2022 as global yields soared required massive purchases of JGBs via quantitative easing. This 2H 2022 QE event was a monetary stimulus of 76 trillion yen or $550 billion (~14% of GDP, i.e., gross domestic profit). The end of this stimulus is likely to act as a defacto global tightening. Raising the yield cap also removed a global “low-yield anchor” on global rates. Not only is this yield anchor fading, but Japanese institutional investors, one of the world’s largest foreign bond buyers, are returning to JGBs. Year to date as of this writing, U.S. Treasury holdings in Japan have declined ~$220 billion since the start of 2022. For various reasons, the two largest holders of U.S. Treasuries have sold $420 billion, or 17.5% of their combined holdings, in 2022.

Foreign selling of U.S. Treasuries is increasing, and the Fed in quantitative tightening (QT )mode leaves U.S. domestic investors as the primary buyers for U.S. Treasuries. Maintaining U.S. Treasury liquidity is now more critical than ever, and the looming debt ceiling standoff will be the next challenge. For gold, the immediate bullish catalyst is a weaker USD and lower real yields. Rising JGB yields will lead to higher U.S. nominal yields but lower breakeven yields (removal of stimulus weakens growth), resulting in lower real yields.

Figure 6. U.S. Treasuries Held by Japan and China, $Billions

Source: Bloomberg. Data as of 1/31/2023. Included for illustrative purposes only. Past performance is no guarantee of future results.

Gold vs. Bonds, Heresy Anyone?

Thus far in 2023, there have been near-record capital inflows into the bond market after 2022 recorded the worst year for bond returns in 48 years of available data. In Figure 7a, we update the gold bullion to the U.S. Treasury Index ratio, highlighting that gold has outperformed over the past several years since 2016 and even over the past 20 years. The gold-Treasury ratio is testing the upper resistance level, and we expect an eventual break higher. Figure 7b highlights the performance of gold versus U.S. equities and U.S. bonds over the past five and 20 years, with performance and portfolio metrics highlighting how well gold has performed and behaved.

Despite these positive metrics, gold is still not widespread in investment portfolios. In the past five years, gold compared to both equities and bonds, has a better Sharpe ratio (risk-adjusted return), a better Sortino ratio (lower downside volatility) and the lowest market correlation (increased diversification).

Gold has outperformed U.S. Treasuries over the past two decades despite the bond market having the advantages of a dovish accommodative Fed (QE, ZIRP, NIRP)¹¹ with volatility-destroying practices (forward guidance, Fed put). Furthermore, most of the past 20 years were dominated by low inflation, low macro volatility, negative stock-bond correlations, etc., all favoring bond performance. In our 2023 Top 10 Watch List, we highlighted several significant macro changes underway, all pointing to higher inflationary pressures and increasing volatility. If gold outperformed U.S. Treasuries in the past decades, we believe the chances are excellent that it is likely to do so in the next several years.

Figure 7a. Gold to U.S. Treasury Index Ratio: Gold Significantly Outperforming U.S. Treasuries

Source: Bloomberg. Data as of 1/31/2023. Included for illustrative purposes only. Past performance is no guarantee of future results.

Figure 7b. Gold vs. Equities and Bonds: 5 & 20-Year Returns and Metrics

Dec. 2017 to Dec. 2022	5 YR CAGR*	Standard Deviation	Max Drawdown	Sharpe Ratio	Sortino Ratio	Market Correlation
U.S. Stock Market	8.67%	19.06%	-24.94%	0.46	0.68	1.00
Total U.S. Bond Market	0.02%	5.09%	-17.57%	-0.23	-0.29	0.34
Gold	6.86%	13.45%	-18.06%	0.47	0.85	0.16

Dec. 2002 to Dec. 2022	20 YR CAGR*	Standard Deviation	Max Drawdown	Sharpe Ratio	Sortino Ratio	Market Correlation
U.S. Stock Market	9.52%	15.29%	-50.89%	0.59	0.87	1.00
Total U.S. Bond Market	3.06%	3.95%	-17.57%	0.48	0.7	0.12
Gold	8.65%	16.87%	-42.91%	0.51	0.83	0.08

*CAGR refers to compound annual growth rate.

1	Gold bullion is measured by the Bloomberg GOLDS Comdty Spot Price.
2	Silver bullion is measured by Bloomberg Silver (XAG Curncy) U.S. dollar spot rate.
3	The NYSE Arca Gold Miners Index (GDM) is a rules-based index designed to measure the performance of highly capitalized companies in the Gold Mining industry.
4	The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index distributed by Bloomberg Indices.
5	The U.S. Dollar Index (USDX, DXY, DX) is an index (or measure) of the value of the United States dollar relative to a basket of foreign currencies, often referred to as a basket of U.S. trade partners’ currencies.
6	The S&P 500 or Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies.
7	Any event that is extremely rare, beyond the sixth standard deviation in a normal distribution, is known as a six sigma event.
8	Source: Investopedia. Tail risk is the chance of a gain/loss occurring due to a rare event, as predicted by a probability distribution. Right-tail risks are associated with substantial investment gains, while left-tail risks are associated with unexpected losses.
9	Source: Investopedia. Fibonacci retracement levels are horizontal lines that indicate where support and resistance are likely to occur. They are based on Fibonacci numbers. Each level is associated with a percentage. The percentage is how much of a prior move the price has retraced. The Fibonacci retracement levels are 23.6%, 38.2%, 61.8% and 78.6%. While not officially a Fibonacci ratio, 50% is also used. The indicator is useful because it can be drawn between any two significant price points.
10	Source: Investopedia. The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions.
11	QE-ZIRP-NIRP is Fed speak and refers to “quantitative easing”, “zero interest rate policy” and “negative interest rate policy”.

Paul Wong, CFA, Market Strategist
Paul has held several roles at Sprott, including Senior Portfolio Manager. He has more than 30 years of investment experience, specializing in investment analysis for natural resources investments. He is a trained geologist and CFA holder.
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Important Disclosure

Past performance is no guarantee of future results. You cannot invest directly in an index. Investments, commentary and statements are that of the author and may not be reflective of investments and commentary in other strategies managed by Sprott Asset Management USA, Inc., Sprott Asset Management LP, Sprott Inc., or any other Sprott entity or affiliate. Opinions expressed in this commentary are those of the author and may vary widely from opinions of other Sprott affiliated Portfolio Managers or investment professionals.

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Tags #JuniorMining, #MilesFranklin, maurice jackson, proven and probable

Base Metals Dolly Varden Silver Energy Exclusive Interviews Junior Mining Precious Metals

Dolly Varden – Reports Highest-Grade Silver at 23,997 Grams Per Ton

Post author By admin
Post date February 7, 2023

Dolly Varden Silver Intersects 15.94 meters Averaging 1,499 g/t Silver Including 0.35 meters of 23,997 g/t Silver at the Wolf Deposit.

Dolly Varden Silver Corp: (TSX.V: DV | OTCQX: DOLLF)
Website: https://www.dollyvardensilver.com/
Fact Sheet: https://bit.ly/3RKRTa3
Corporate Presentation: https://bit.ly/3x1BEfq
Email: info@dollyvardensilver.com
Phone: 604-602-1440
Press Release: https://bit.ly/3l8dywx

The Best Video on Why and When to Buy and Sell Physical Precious Metals:

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Tags #DV, #KitsaultValleyProject, #MauriceJackson, #ProvenAndProbable, Dolly Varden Silver, Shawn Khunkhun, silverstocks

Dolly Varden Silver Energy Junior Mining Precious Metals

Dolly Varden Silver Intersects 15.94 meters Averaging 1,499 g/t Silver Including 0.35 meters of 23,997 g/t Silver at the Wolf Deposit

Post author By admin
Post date February 6, 2023

Vancouver, British Columbia–(Newsfile Corp. – February 6, 2023) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce that final results from drilling during the 2022 season on the Dolly Varden area of the Kitsault Valley Project have been received, including significant results from both the southern and northern limits at the Wolf Deposit: the southwest Wolf Vein Extension as well as the East Wolf Vein offset. Results include the highest grade silver assay yet received from the Dolly Varden Property. Mineralization remains open for expansion at the deposit.

Highlights from the Wolf Vein include:

Wolf Vein Northeast: DV22-329: 1,499 g/t Ag, 1.89% Pb, 0.46% Zn over 15.94 meters (8.77 meters estimated true width), including the highest grade silver assay reported from the project to-date with coarse, native silver mineralization that returned 23,997 g/t Ag, 1.24% Pb, 0.34% Zn over 0.35 meters (0.19m estimated true width).

Wolf Vein Southwest: DV22-320: 321 g/t Ag, 0.84% Pb, 0.84% Zn over 12.85 meters (6.81 meters estimated true width) including 664 g/t Ag, 1.24% Pb, 3.54% Zn over 1.63 meters (0.86 meters estimated true width).

Highlights from exploration drilling at Kitsol Vein and a new discovery at the Red Point target include:

Kitsol Vein: DV22-323: 301 g/t Ag, 0.23 %Pb, 0.56% Zn over 15.00 meters (9.60 meters estimated true width) including 434 g/t Ag, 0.41% Pb, 0.69% Zn over 5.90 meters (3.78 meters estimated true width).
Red Point: DV22-321: 8.10 g/t Au, 244 g/t Ag and 5.16% Cu over 1.00 meter*.
Red Point: DV22-322: 17.20 g/t Au and 1.65% Cu over 1.15 meters*.

*(intervals stated in core length unless otherwise indicated)

“Results from the Wolf Vein continue to exceed expectations, returning the highest-grade silver assay yet received, more than doubling the strike length of the deposit through step outs to the north and south as well as returning wide, robust silver and base metal grades at depth. Our priority during the 2023 will be to connect the Wolf Deposit with the Kitsol Deposit, located 1,400 meters to the south. Additionally, encouraging gold, silver and copper mineralization at the new Red Point discovery is encouraging,” said Shawn Khunkhun, President and CEO of Dolly Varden Silver.

On the East Wolf offset, the 50m step out drill hole DV22-329 cut an interval of multi-phase veins and breccia, demonstrating the robust Wolf Vein system remains open along strike to the east and northeast.

Testing the southwestern known limits of the Wolf Vein, drill hole DV22-320 is the southernmost hole completed to-date and the vein intercept in that hole is over 825 meters distance down plunge on the system from the reported intercept in drill hole DV22-329. Drill hole DV22-320 is a 63m step-out down plunge from previously reported DV22-316, which intersected 550 g/t Ag over 9.80m (see news release dated November 21, 2022). DV22-320 is located over 350m to the southwest from the 2021 discovery drill hole DV21-273, demonstrating that silver-rich mineralization hosted by the Wolf vein continues to depth and remains open for expansion to the southwest under the sedimentary cover rocks (Figure 2).

At the Kitsol Vein, step-out hole DV22-323 expanded high grade silver mineralization an additional 85 meters down-plunge from previously released results (Figure 6).

At the Red Point exploration target, high-grade gold and silver mineralization was discovered, with significant copper in strong pyrite-chalcopyrite mineralization in a new area (Figure 7). Mineralization is wide open for expansion.

Figure 1. Kitsault Valley trend and mineral deposits.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_002full.jpg

Drilling objectives during 2022 at the Dolly Varden Property was to expand the wide high grade silver mineralization at on the Wolf Vein, step out and infill at Torbrit and Kitsol as well as test several other nearby exploration targets. A total of 52 holes for 18,614 meters were completed at the Dolly Varden Project during 2022; 20 holes for 9,994 meters were completed at the Wolf Vein, 18 holes for 3,524 meters at the Torbrit Deposit, 8 holes for 2,900 meters of infill and step out drilling at Kitsol Vein and 6 holes for 2,196 meters in additional exploration. This is in addition to 18,448m in 56 holes at the Homestake Ridge Property for a total of 37,062m in 108 holes on the Kitsaut Valley project in 2022.

Wolf Vein

Mineralization at the Wolf Vein consists of multiple epithermal silica vein and brecciation events along a northeast trending, steeply northwest dipping zone (Figures 2 and 3). Silver-bearing minerals include: native silver, silver sulphosalts, tennantite, argentite and argentiferous galena (Figures 4 and 5).

The mineralized interval in DV22-320 suggests an open-ended 350m long mineralized shoot to the southwest of discovery hole DV21-273, which returned 17.50m averaging 214 g/t Ag and 0.47% Pb including 1.22m averaging 1,532 g/t Ag, 0.44 g/t Au, 2.11% Pb and 1.07% Zn (see Dolly Varden news release, December 20, 2021). Drilling to the southwest tested mineralization within volcanic rocks, below the Upper Hazelton sediment cap and are associated with strong potassic alteration. This trend continues south for 1,400 m to the Kitsol Vein (Figure 7).

Drill holes DV22-315 and 317 are on section with DV22-316 (Figure 2) but intersected the Wolf structure approximately 100 meters above and 75 meters below, respectively, the projection of the higher grade silver zone intersected in DV22-316.

High-grade silver in drill hole DV22-329 occurs within a very strong, multiphase vein and breccia vein that is offset to the main Wolf Vein by a post-mineral fault. The dip of the offset limb is approximately 55 degrees to the northwest, is open to the east and northeast, projecting just below the slope surface (Figures 2 and 3). Two other step outs from the same pad include DV22-325 and 327. Drill hole DV22-327 is approximately a 25 meter step-out returning 1,457 g/t Ag over 3.06 m (1.68m estimated true thickness). Drill hole DV22-325 intersected a post-mineral mafic dyke at the projected depth of vein mineralization (Table 1).

Figure 2. Longitudinal Section, open down plunge from DV22-320 on main Wolf Vein and open to the East from DV22-329 drilled on Wolf East offset vein.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_003full.jpg

Figure 3. Plan of the Wolf Vein mineralization envelopes and 2022 drilling with lithology (this release have hole ID).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_004full.jpg

Figure 4. DV22-320 Broad intervals of mineralized vein and vein breccias of the Wolf Vein extension.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_005full.jpg

Figure 5. DV22-329 at 32.50m, Native Silver stringer with Pyrite, argentite in breccia quartz vein

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_006full.jpg

Table 1. Complete Wolf Area drill hole assays.

Area	Hole ID	From (m)	To (m)	Length (m)	Est.True Width (m)	Ag (g/t)	Pb (%)	Zn (%)
Wolf West	DV22-315	125.50	126.00	0.50	0.27	5	0.10	1.18
Wolf West	DV22-317	533.75	534.26	0.51	0.13	377	1.91	0.41
	And	551.00	552.00	1.00	0.26	NSV	0.28	1.14
	And	598.80	601.00	2.20	0.57	NSV	0.08	1.33
	And	635.72	636.24	0.52	0.14	NSV	0.10	1.62
	And	665.75	666.25	0.50	0.13	NSV	0.02	2.12
	And	682.72	683.22	0.50	0.13	NSV	0.09	1.76
Wolf HW	DV22-318	584.00	585.00	1.00	NSV	0.18	0.12
Wolf West	DV22-320	182.00	183.00	1.00	0.53	2	0.01	1.07
	And	586.00	587.00	1.00	0.53	5	0.36	1.18
	And	592.00	593.00	1.00	0.53	8	0.33	1.15
	And	623.65	625.00	1.35	0.72	158	0.40	0.14
	And	648.40	661.25	12.85	6.81	321	0.84	0.84
	including	649.47	651.10	1.63	0.86	664	1.24	3.54
Wolf East	DV22-325	post	mineral	dyke
Wolf East	DV22-327	32.00	35.06	3.06	1.68	1,457	0.77	0.52
	including	33.00	33.50	0.50	0.28	4,880	1.14	0.58
Wolf East	DV22-329	30.00	45.94	15.94	8.77	1,499	1.89	0.46
	including	30.00	33.50	3.50	1.93	4,563	0.66	0.11
	including	32.33	32.68	0.35	0.19	23,997	1.24	0.34
Wolf NE	DV22-330	12.25	12.75	0.50	0.35	95	0.51	0.09
	And	38.00	45.75	7.75	5.43	163	0.45	0.08
	including	40.75	41.31	0.56	0.39	487	1.48	0.25
	And	90.00	91.75	1.75	1.23	129	3.09	1.41

Kitsol Vein

Mineralization in drill hole DV22-323 at the Kitsol Vein demonstrates the continuity of steeply plunging, high-grade silver mineralization within the Kitsol structure. Mineralization was encountered 85 meters down-plunge from previously reported drill hole DV22-283 with 414 g/t Ag over 50.00m (see news release dated August 10, 2022). A further step out drill hole DV22-326 crossed the northwest striking Moose Lamb Fault into the hanging wall rock and did not encounter the Kistsol Vein (see Figure 6).

Figure 6. Kitsol Longitudinal Section A-B with DV22-323: an 85 meter step-out down-plunge.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_007full.jpg

Dolly Varden Exploration Targets

Three exploration drill holes from one drill pad tested an Induced Polarity chargeability anomaly and the depth extent of gold bearing veins from the Red Point Area. The target is located approximately 500m west of the Kitsol Vein. All holes intersected strong QSP (quartz-pyrite -sericite) alteration with stockwork veining that returned anomalous gold over broad intervals (Table 2). In areas where the quartz veining intensified and brecciation occurred, gold and copper grades increased.

Highlights from the two drill holes oriented to the southwest that tested below the surface veining at the Red Point Prospect include:

DV22-321: 0.59 g/t Au over 49.00 m
DV22-321: 2.94 g/t Au and 1.65% Cu over 5.00 m
DV22-321: 8.10 g/t Au, 244 g/t Ag and 5.16% Cu over 1.00 m
DV22-322: 17.20 g/t Au and 1.93% Cu over 1.15 m

Figure 7. Plan view location of Kitsol, Red Point and North Star Connection drill holes

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/153738_ecac04afb4e19912_008full.jpg

The North Star Connection target, located to the west of Torbrit in the centre of the Kitsault River valley was tested with drill holes DV22-328 and 331. Vein- style mineralization was intersected along the projected trace of the North Star structure and appears to be continuous with the Torbrit deposit. No significant silver mineralization was encountered however anomalous gold values within the vein were received.

Exploration drill hole DV22-324 was drilled approximately 1,200 meters northwest of the Wolf Deposit, testing underneath the sediment cap (Figure 1). The drill pad was located in the centre of the valley, west of the Silver Horde alteration zone. Minor veining and moderate alteration was encountered with no significant assay results (see Table 2). Further targeting work is ongoing in this area.

Table 2. Kitsol and Exploration drill hole assays

Area	Hole ID	From (m)	To (m)	Length (m)	Est.True Width* (m)	Ag (g/t)	Pb (%)	Zn (%)	Au (g/t)
Kitsol	DV22-323	325.30	340.30	15.00	9.6	301	0.23	0.56
	including	332.40	338.30	5.90	3.78	434	0.41	0.69
Kitsol	DV22-326	Moose	Lamb	Fault
North Star	DV22-328	266.56	273.00	6.44	5.99	4	0.02	0.04	0.22
North Star	DV22-331	267.00	270.40	3.40	2.96	4	0.05	0.20	0.17
Red Point	DV22-319	4.20	11.00	6.80	75% to 90% of length				0.20
	and	18.00	22.00	4.00					0.33
	and	39.00	55.50	16.50					0.17
	and	124.00	142.70	18.70					0.14
	and	158.00	165.00	7.00					0.19
	and	175.00	184.00	9.00					0.22
Red Point	DV22-321	6.19	12.00	5.81	75% to 90% of length				0.22
	and	23.00	29.00	6.00					0.44
	and	103.00	105.00	2.00					3.01
	and	113.00	162.00	49.00		13			0.59
	including	138.00	143.00	5.00		83			2.94
	including	139.00	140.00	1.00		244			8.10
	and	248.00	261.00	13.00					0.73
Red Point	DV22-322	2.88	11.00	8.12	75% to 90% of length				0.18
	and	45.00	76.00	31.00					0.19
	and	106.60	107.75	1.15		23	0.07	0.13	17.20
Silver Horde	DV22-324	243.00	244.00	1.00	85% to 90% of length	125	0.99	0.04
	and	419.50	420.00	0.50		12	1.82	0.54

Table 3. Drill hole collar locations and orientations

Zone	Hole ID	Easting UTM83 (m)	Northing UTM83 (m)	Elev. (masl)	Azimuth	Dip	Length (m)
Wolf West	DV22315	467003	6173509	390	125	-62	424.00
Wolf West	DV22317	467003	6173509	390	125	-80	684.00
Wolf HW	DV22318	466902	6173602	415	80	-65	696.00
Wolf West	DV22320	466902	6173602	415	137	-63	699.00
Wolf East	DV22325	467465	6173669	520	355	-68	141.00
Wolf East	DV22327	467465	6173669	520	355	-85	102.00
Wolf East	DV22329	467465	6173669	520	40	-50	120.00
Wolf NE	DV22330	467315	6173933	485	110	-45	231.00
Red Point	DV22319	467047	6171996	620	40	-74	357.00
Red Point	DV22321	467047	6171996	620	200	-50	342.00
Red Point	DV22322	467047	6171996	620	200	-75	339.00
Kitsol	DV22323	467482	6172114	411	106	-58	468.00
Kitsol	DV22326	467482	6172114	411	111	-64	564.00
North Star	DV22328	467713	6171589	394	125	-55	354.00
North Star	DV22331	467713	6171589	394	125	-55	351.00
Silver Horde	DV22324	466644	6174379	392	60	-50	453.00

Quality Assurance and Quality Control

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

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

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

Qualified Person

Rob van Egmond, P.Geo. Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI 43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.

About Dolly Varden Silver Corporation

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

Forward Looking Statements

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

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

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

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

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

To view the source version of this press release, please visit

Base Metals Collective Mining Junior Mining Precious Metals

Collective Mining Hosts the Vice Minister of Mines of Colombia to its Project Facilities in Supia, Colombia

Post author By admin
Post date February 6, 2023

TORONTO, Feb. 6, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce the Company had a recent opportunity to host the new Vice Minister of Mines of Colombia, Giovanni Franco, at its operation facilities in Supia, Colombia. The Vice Minister was visiting the region as part of the Ministry of Mines and Energy’s Social Mining Forum, which is a communication-based platform to discuss mining between the Ministry and municipalities.

During the visit, the Company had the opportunity to present its “Collective” model to mining, which is based on honesty, transparency, education and open dialogue with its stakeholders. The Company reviewed in detail its business and social approach within the area of influence of the Guayabales and San Antonio projects as it relates to various sustainability initiatives and exploration methodologies.

Upon completion of the visit, the Vice Minister of Mines recorded a short video summarizing his thoughts, which includes the following statement:

“What we see in the advances made by Collective Mining over the past three years is what we would like to have in Colombia. We wish to have 10, 50, 100 companies like Collective Mining all around Colombia to improve the geoscientific knowledge of the country, to improve the understanding of the subsoil resources that we have in Colombia to define public policies to improve the extraction of our subsoil resources.”

Please click on the link below to watch the full two-minute video testimony of the Vice Minister of Mines: https://youtu.be/-Ak3a_HJiPE

Figure 1 - Vice Minister of Mines Engaging with the Collective Mining Team in our Core Shack in Supía, Colombia (CNW Group/Collective Mining Ltd.) — Figure 1 – Vice Minister of Mines Engaging with the Collective Mining Team in our Core Shack in Supía, Colombia (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com.

Management, insiders and close family and friends own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.

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

SOURCE Collective Mining Ltd.

Tags #InvestingInBatteryMetals, #ProvenAndProbable, Canadian Mining Stocks

Base Metals Energy Gold Shore Resources Junior Mining Precious Metals

Goldshore Intersects 9.46 g/t Au over 7.45m in the Southwest Zone

Post author By admin
Post date February 2, 2023

Widths of Mineralized System Expanded Significantly

Vancouver, British Columbia–(Newsfile Corp. – February 2, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Lake Gold Project“).

Highlights:

Hole MMD-22-063 has confirmed the presence of high-grade mineralization within the previously perceived low grade and low tonnage Southwest Zone and shown the zone to be almost 300 meters wide. Best intercepts include:
- 1.60 g/t Au over 57.5m from 230.5m depth in MMD-22-063 including:
  - 9.46 g/t Au over 7.45m from 234.0m
- 1.18 g/t Au over 18.25m from 387.75m
Results for thirteen holes drilled to explore the northern and southern flanks of the mineralized shear zone system in the Main Zone have expanded the cumulative width of multiple, close-spaced, high-grade gold shears by 150-200 meters to over 550 meters at the Main Zone with best intercepts of:
- 0.93 g/t Au over 126.0m from 467.0m depth in MMD-22-059 including:
  - 1.64 g/t over 48.0m from 513.0m
- 3.67 g/t Au over 13.65m from 612.35m
- 1.05 g/t Au over 34.0m from 257.0m depth in MMD-22-088 including:
  - 1.51 g/t Au over 15.0m from 276.0m
- 1.84 g/t Au over 14.95m from 483.05m

President and CEO, Brett Richards, stated: “These results once again support our thesis that the size and scale of the Moss Lake Gold Project will be large enough to support a material and meaningful update to the mineral resource estimate (“MRE”) in April 2023, followed by a preliminary economic assessment (“PEA”) on the updated resource. We continue to find additions to the resource on step out holes laterally and along strike from the historic resource profile, and we look to continue to explore the impact of these additions to the resource model, as well as guiding us in future drill targets.”

Technical Overview

Figure 1 shows the better intercepts in plain view and Figure 2 is a typical section through hole MMD-22-063. Table 1 shows the significant intercepts. Table 2 shows the drill hole locations.

Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to the current Mineral Resource and highlighting the additional shears.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/153300_2909b97504e5db83_002full.jpg

Figure 2: Drill section through MMD-22-063 relative to the current Mineral Resource and highlighting the additional shears and potential to significantly deepen the open pit shell.

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Results have been received for MMD-22-063, which was the final hole from the first pass drill pattern at the Southwest Zone. The hole infills two previous holes and has shown that there is continuity to the high-grade core of the zone. In addition to the high-grade lenses highlighted above, the hole also intersected multiple lenses of lower grade mineralization throughout the hole including 0.58 g/t Au over 23.2m from 27.9m, 0.81 g/t Au over 20.6m from 355m, and 0.55 g/t Au over 7.95m from 417.05m. These confirm the increased tonnage potential in the Southwest Zone with mineralization above the low-grade cutoff of 0.40 g/t Au used for the current mineral resource estimate over a zone that is almost 300 meters wide.

A second pass drill pattern over the Southwest zone was completed in January, infilling the newly discovered high-grade shears and exploring for additional shears.

Results have also been received for thirteen holes that have explored the edges of the Main Zone on its northern and southern flanks. Six holes targeted the northern side of the shear system, and seven holes targeted the southern side. These holes intersected high-grade shears over a zone that is 200 meters wider than previously understood, making the main zone over 550 meters wide at its widest point.

As with the center of the Main Zone, these shears lie within broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 0.84 g/t Au over 37m from 608m in MQD-22-058; 0.33 g/t Au over 35.65m from 231.35m, 0.42 g/t Au over 34m from 273m and 0.86 g/t Au over 126m from 467m in MMD-22-059; 0.58 g/t Au over 75m from 543.5m in MMD-22-060; 0.91 g/t Au over 33m from 257m in MMD-22-088; 0.58 g/t Au over 75m from 422m in MMD-22-089; 0.39 g/t Au over 40.5m from 453.8m in MQD-22-091; and 0.72 g/t Au over 15m from 207 in MMD-22-095.

The shears in the north and south were sparsely drilled by historical drill holes and represent opportunity to potentially expand the mineral resource and to properly understand the mineralizing system.

A detailed review of current and previous high-grade intercepts has identified various gold, silver, and bismuth bearing tellurides across all three zones of the Moss Lake Gold Project deposit. The tellurides have been located within pyrite±-chalcopyrite bearing quartz-chlorite-carbonate veins and sulphide-rich hydrothermal breccias previously identified in the vein paragenesis to be emplaced near the end of deformational history. Identifying and outlining the late structural events will allow for enhanced targeting of the high-grade portions of Moss Lake Gold Project and will assist in refining generative targets by focusing on preferred horizons for these structures to occur.

Figure 3: Tellurides identified at 234.1m of MQD-21-009 within a py+cpy bearing undulating qt+ch±cb shear vein. The sample yielded 39.7g/t Au, 73.7g/t Ag, 63.5g/t Te over 0.9m.

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Pete Flindell, VP Exploration for Goldshore, said, “The high-grade drill results in the Southwest Zone provide confidence that this area has significant resource potential. The results along the northern and southern flanks of the Main Zone also represent a significant expansion to the width of the mineralized zone, which should assist our goal of potentially expanding the mineral resource and improving its quality in early Q2.”

Table 1: Significant downhole gold intercepts

HOLE ID	FROM	TO	LENGTH (m)	TRUE WIDTH (m)	CUT GRADE (g/t Au)	UNCUT GRADE (g/t Au)
MMD-22-058	314.00	321.00	7.00	4.1	0.41	0.41
	374.90	392.30	17.40	10.3	0.36	0.36
	466.00	468.30	2.30	1.4	0.38	0.38
	491.70	505.00	13.30	8.1	0.39	0.39
	517.00	519.00	2.00	1.2	0.35	0.35
	553.45	574.45	21.00	13.3	0.37	0.37
	593.00	595.00	2.00	1.3	0.37	0.37
	608.00	645.00	37.00	23.9	0.87	0.87
including	614.00	621.00	7.00	4.5	1.40	1.40
and	628.00	636.00	8.00	5.2	1.04	1.04
and	641.00	645.00	4.00	2.6	1.54	1.54

MMD-22-059	231.35	307.00	75.65	51.8	0.36	0.36
including	236.00	239.20	3.20	2.2	1.01	1.01
and	280.00	284.00	4.00	2.7	1.45	1.45
	342.00	348.00	6.00	4.2	0.36	0.36
	361.00	392.00	31.00	22.0	0.36	0.36
	467.00	593.00	126.00	92.3	0.93	0.93
including	475.60	484.70	9.10	6.6	1.50	1.50
and	504.65	509.30	4.65	3.4	1.08	1.08
and	513.00	561.00	48.00	35.3	1.64	1.64
	612.35	626.00	13.65	10.2	2.56	3.67

MMD-22-060	95.20	102.00	6.80	3.5	0.40	0.40
	336.95	346.00	9.05	5.1	0.31	0.31
	361.10	379.00	17.90	10.2	0.70	0.70
including	364.00	368.10	4.10	2.3	2.14	2.14
	475.80	481.10	5.30	3.1	0.39	0.39
	543.50	569.00	25.50	16.1	0.79	0.79
	584.00	592.15	8.15	5.2	0.46	0.46

MMD-22-061	113.55	121.00	7.45	3.9	0.30	0.30
	125.25	130.00	4.75	2.5	0.31	0.31
	213.00	216.40	3.40	1.9	0.38	0.38
	234.95	237.00	2.05	1.1	0.46	0.46
	331.65	343.30	11.65	6.7	0.58	0.58
	449.00	455.10	6.10	3.6	0.39	0.39
	460.00	462.00	2.00	1.2	0.64	0.64
	570.00	593.00	23.00	14.5	0.31	0.31

MMD-22-063	27.90	51.10	23.20	15.0	0.58	0.58
including	39.00	41.95	2.95	1.9	1.45	1.45
	165.00	169.00	4.00	2.7	0.53	0.53
	230.50	288.00	57.50	42.0	1.60	1.60
including	234.00	241.45	7.45	5.4	9.46	9.46
	328.00	330.00	2.00	1.5	0.89	0.89
	355.00	375.60	20.60	15.5	0.81	0.81
including	357.00	360.00	3.00	2.2	3.57	3.57
and	373.00	375.60	2.60	2.0	1.28	1.28
	387.75	406.00	18.25	13.8	1.18	1.18
	417.05	425.00	7.95	6.0	0.55	0.55
	544.00	546.00	2.00	1.6	0.31	0.31

MMD-22-068	17.15	23.00	5.85	2.9	0.34	0.34
	307.00	327.00	20.00	11.8	0.42	0.42
	337.10	341.40	4.30	2.5	0.45	0.45
	347.95	350.55	2.60	1.5	0.44	0.44
	361.00	376.00	15.00	9.0	0.61	0.61
including	370.00	373.00	3.00	1.8	1.78	1.78
	570.40	581.30	10.90	7.1	0.32	0.32
	625.55	672.00	46.45	31.3	0.35	0.35

MMD-22-069	57.00	63.00	6.00	3.3	0.77	0.77
	266.50	276.00	9.50	6.5	0.52	0.52
	525.00	530.00	5.00	3.5	0.35	0.35
	540.15	545.00	4.85	3.4	0.45	0.45
	567.00	569.95	2.95	2.1	0.61	0.61
	581.90	588.20	6.30	4.5	0.32	0.32

MMD-22-071	629.85	633.80	3.95	3.0	0.45	0.45

MMD-22-084	194.00	213.15	19.15	14.9	0.53	0.53
including	198.00	203.00	5.00	3.9	1.32	1.32
	229.00	231.00	2.00	1.6	0.47	0.47
	255.00	258.50	3.50	2.8	1.74	1.74
	292.55	294.55	2.00	1.6	0.43	0.43
	399.00	403.65	4.65	3.8	0.96	0.96

MMD-22-088	55.25	58.05	2.80	2.0	0.31	0.31
	111.00	115.55	4.55	3.3	0.31	0.31
	149.00	166.00	17.00	12.8	0.45	0.45
	179.00	186.00	7.00	5.3	0.41	0.41
	209.70	222.00	12.30	9.4	0.46	0.46
	257.00	291.00	34.00	26.3	1.05	1.05
including	276.00	291.00	15.00	11.6	1.51	1.51
	432.00	434.00	2.00	1.6	0.46	0.46
	444.95	468.10	23.15	18.5	0.32	0.32
	483.05	498.00	14.95	12.0	1.84	1.84
including	483.05	496.00	12.95	10.4	2.04	2.04

MMD-22-089	302.10	309.00	6.90	5.1	0.63	0.63
including	307.00	309.00	2.00	1.5	1.30	1.30
	321.00	334.80	13.80	10.3	0.34	0.34
	390.00	392.00	2.00	1.5	0.41	0.41
	422.00	497.00	75.00	58.4	0.59	0.59
including	431.00	433.00	2.00	1.5	3.66	3.66
and	444.00	456.00	12.00	9.3	1.05	1.05
and	478.00	488.00	10.00	7.8	1.19	1.19

MMD-22-091	153.70	162.55	8.85	6.1	0.53	0.53
	201.00	206.95	5.95	4.2	0.42	0.42
	363.55	378.00	14.45	10.7	0.32	0.32
	397.00	401.55	4.55	3.4	0.45	0.45
	453.80	494.30	40.50	30.8	0.41	0.41

MMD-22-093	473.25	481.00	7.75	6.0	0.61	0.61
	496.00	512.80	16.80	13.2	0.44	0.44
including	509.25	512.80	3.55	2.8	1.05	1.05
	523.00	525.25	2.25	1.8	3.04	3.04
	551.00	555.20	4.20	3.3	0.32	0.32
	587.20	606.20	19.00	15.1	0.33	0.33
	617.40	620.55	3.15	2.5	0.33	0.33
	628.00	630.80	2.80	2.2	0.56	0.56

MMD-22-095	161.20	167.45	6.25	4.4	1.10	1.10
including	163.00	165.00	2.00	1.4	2.41	2.41
	186.30	190.00	3.70	2.6	0.33	0.33
	207.00	222.00	15.00	10.7	0.72	0.72
including	211.65	215.05	3.40	2.4	1.56	1.56
	267.00	276.00	9.00	6.5	0.46	0.46
including	274.00	276.00	2.00	1.4	1.61	1.61
	373.60	376.15	2.55	1.9	0.44	0.44
	412.50	418.00	5.50	4.1	0.71	0.71
Intersections calculated above at 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Bordered intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.

Table 2: Location of drill holes in this press release

HOLE	EAST	NORTH	RL	AZIMUTH	DIP	EOH
MMD-22-058	668,743	5,379,407	454	153°	-60°	645.00
MMD-22-059	668,819	5,379,436	439	154°	-50°	648.00
MMD-22-060	668,909	5,379,474	436	155°	-60°	600.05
MMD-22-061	669,091	5,379,558	448	155°	-60°	600.00
MMD-22-063	668,481	5,378,460	439	148°	-50°	563.00
MMD-22-068	669,177	5,379,614	455	154°	-60°	699.10
MMD-22-069	669,254	5,379,629	445	151°	-59°	600.00
MMD-22-071	669,077	5,378,242	432	335°	-51°	648.00
MMD-22-084	668,973	5,378,574	428	337°	-45°	414.15
MMD-22-088	669,031	5,378,642	431	336°	45°	498.00
MMD-22-089	668,972	5,378,560	428	314°	-51°	497.90
MMD-22-091	669,172	5,378,762	431	332°	-49°	494.30
MMD-22-093	669,018	5,378,463	430	289°	-50°	651.00
MMD-22-095	669,090	5,378,690	428	345°	-45°	420.00
Approximate collar coordinates in NAD 83, Zone 15N

Analytical and QA/QC Procedures

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).

In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.

About Goldshore

Goldshore is an emerging junior gold development company, and owns 100% of the Moss Lake Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an approximate 22% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.

Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.

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

For More Information – Please Contact:

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

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

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this news release include, among others, statements relating to: expectations regarding the exploration and development of the Moss Lake Gold Project; an updated mineral resource estimate and the timing thereof; completion of a PEA and the timing thereof, and other statements that are not historical facts.

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

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any 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 U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153300

Tags #GoldShoreResources, #GSHR, #JuniorMining, #MossLakeProject, Brett Richards, canadian gold company stocks, gold stocks to buy

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