Category: 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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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.

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 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.

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 #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.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/153300_2909b97504e5db83_003full.jpg

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.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/153300_2909b97504e5db83_004full.jpg

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

Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Updates Copper Values at Black Copper

Post author By admin
Post date January 31, 2023

Burlington, Ontario–(Newsfile Corp. – January 31, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to update the assay results from its Black Copper occurrence, reported earlier on January 31, 2023.

In SBMI’s January 17, 2023 press release, SBMI advised third part geologic consultants including the QP had visited the Black Copper occurrence in late November and early December, 2022. Black Copper is situated on SBMI’s Black Diamond property roughly one point five kilometres south of the Buckeye Mine and is referred to in the January, 2021 Geologic Report. Samples from Black Copper were taken and reported the following results:

Sample number	Au (ppb)	Cu ppm
342151	615	>1000
342152	192	>1000
342153	941	>1000
342154	654	>1000

The over-detection limit for copper on these samples was 1000 parts per million. These four samples were sent for further analysis which returned:

Sample number	Cu ppm	Cu %
342151	22400	2.24
342152	37400	3.740
342153	34000	3.400
342154	54900	5.490

The press release from earlier today incorrectly stated the values in parts per million as a result of manual data entry into the press release. A copy of the Actlabs certificates for these samples is attached.

QAQC For SBMI

All the samples above were collected by Robert Komarechka and John Corkery. Samples were collected and placed in sample bags with their appropriate tag and personally taken to the courier and shipped to Actlabs in Thunder Bay, Ontario for assaying. Certified standards and blanks were used both by the Company and Actlabs.

All samples analyzed by Actlabs were by Fire Assay ICPOES (Induced coupled plasma arc with optical emission spectroscopy).

The multi-element analysis was by digestion with a combination of hydrochloric, nitric, perchloric and hydrofluoric acids.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

With respect to the Company’s press release concerning seeking an extension of the Warrants (as that term is defined in that release), SBMI advises it is seeking an extension on a total of 8,528,081 Warrants with new expiry dates ranging from February 6, 2024 to July 8, 2024.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153061

Tags #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable, maurice jackson, proven and probable, Quinton Hennigh

Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Discovers New Sulphide Vein Structures at the Buckeye Mine and a New Gold Occurrence

Post author By admin
Post date January 31, 2023

Burlington, Ontario–(Newsfile Corp. – January 31, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to report results from its Buckeye Mine development, ongoing PGM (platinum group metals) study, assay results from its Black Copper occurrence and the discovery of a new gold occurrence on its Black Diamond Property.

Development drift intersecting a wall of sulphides at the Buckeye Mine, Jan. 28, 2023

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/153012_bf88da37d4d289e1_001full.jpg

As of this date, the development drift at the Buckeye Mine has advanced about 116 metres from the adit alongside the main vein with ongoing bolting and screening.

In its January 17, 2023 press release, the Company advised it “…next intends to drift along the vein to an area believed to contain higher grade mineralization (see page 8 of the Geologic Report dated January 8, 2021).” However, the Company believes it may have intercepted that area of higher grade mineralization sooner than expected.

Approximately 1 metre before turning into the anticipated intersection with the main vertical vein, a 0.6 metre thick horizontal fracture zone was encountered that contained bands of massive sulphides. Horizontal sulphide bands were also noted by the QP for this press release in the Treasure Room along with paper thin layers of high purity native silver, similar to the bands in the newly discovered fracture zone. While the Company expected to locate the area of higher grade mineralization, the placement of this 0.6 metre wide area of sulphide mineralization was a positive surprise to the Company.

A blast in the drift on January 27, 2023 exposed another wall of sulphides at the end of the drift. These sulphides were also encountered sooner than the Company expected. Samples of the sulphide material are being prepared to be sent for assaying and further petrographic examination.

Regarding the earlier reported PGM assays and as previously reported, check assay samples have been sent to three independent certified labs. SBMI is awaiting complete reporting of the assays from the three labs. In addition to these check assays, the Company has contracted Dr. Andy McDonald, Mineralogist, of the Harquail School of Earth Sciences, at Laurentian University in Sudbury, Ontario, Canada, to undertake sample preparation, petrographic and scanning electron microscope examination of two samples derived from the Buckeye Mine.

The first sample being analyzed by Dr. McDonald was taken by the QP in November, 2022. It was diabase from the floor of the Treasure Room of the Buckeye Mine containing a silvery ductile mineral, subsequently confirmed by Dr. McDonald to be high purity native silver. When this sample was examined with an uncalibrated handheld X-ray fluorescent unit, the presence of palladium at 29 and 21 parts per million was noted. The second sample provided to Dr. McDonald was a malformed dore bar poured by SBMI in September, 2022 derived from the Buckeye Mine, containing highly refractory “unknown material.”

Native silver in diabase rock sample collected from the floor of the Treasure Room, Buckeye Mine

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/153012_bf88da37d4d289e1_002full.jpg

Malformed refractory dore bar poured in September, 2022

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/153012_bf88da37d4d289e1_003full.jpg

Also in SBMI’s January 17, 2023 press release, SBMI advised third part geologic consultants including the QP had visited the Black Copper occurrence in late November and early December, 2022. Black Copper is situated on SBMI’s Black Diamond property roughly one point five kilometres south of the Buckeye Mine and is referred to in the January, 2021 Geologic Report. Samples from Black Copper were taken and reported the following results:

Sample number	Au (ppb)	Cu ppm
342151	615	>1000
342152	192	>1000
342153	941	>1000
342154	654	>1000

The over-detection limit for copper on these samples was 1000 parts per million. These four samples were sent for further analysis which returned:

Sample number	Cu ppm	Cu %
342151	2240	2.24
342152	3740	3.740
342153	3400	3.400
342154	5490	5.490

In addition, during this geological study, an area of broken rusty quartz float was observed by the QP near the trail to the Richmond Basin to the west of the McMorris and Buckeye Mines. This is the Company’s first testing of this area. These quartz fragments appeared to be segments of narrow quartz veins containing sulphides. Due to a soil cover of a few inches to a foot in this area, limited time prevented exposure of the underlying bedrock. Four samples were collected from surface and yielded the following gold assays:

Sample number	Au (ppb)	Bi (ppm)
342109	17	2
342110	4450	412
342111	64	1600
342112	7	16

A bismuth assay of 1600 ppm and a silver assay over 100 ppm was recorded in sample 342111. The QP of this press release highly recommends further evaluation of this new gold occurrence.

Sample 342110 assayed 4.45 g/t Au. from the new gold occurrence.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/153012_bf88da37d4d289e1_004full.jpg

QAQC For SBMI

All samples analyzed by Actlabs were by Fire Assay ICPOES (Induced coupled plasma arc with optical emission spectroscopy).

The multi-element analysis was by digestion with a combination of hydrochloric, nitric, perchloric and hydrofluoric acids.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/153012

Tags #BuckeyeMine, #InvestingInBatteryMetals, #InvestingInCopper, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #SBMI, #WashingtonMine, John Carter, proven and probable, Silver Bullet Mines

Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Step-Out Drilling Confirms a Significant Southern Zone of Near Surface High-Grade Mineralization Including 32 Metres at 10.48 g/t Gold Equivalent

Post author By admin
Post date January 31, 2023

Drill hole APC-29 intercepted the highest grade near-surface copper-silver-gold mineralization encountered to date at the Main Breccia system at the Apollo target (“Apollo”) yielding 32 metres @ 10.48 g/t gold equivalent from 80 metres vertical. This hole was designed to test directly below where the Main Breccia system daylights at surface in the southern part of the system and to follow up on recently announced results for hole APC-22, which intersected 47.25 metres @ 5.45 g/t gold equivalent (see press release dated January 11, 2023). Further down-hole in APC-29, a broad zone of mineralization was encountered averaging 214.4 metres @ 1.04 g/t gold equivalent. APC-29 had to be abandoned short of target depth due to a fault while still in mineralization with the final 0.5 metre sample assaying 1.72 g/t gold, 39 g/t silver and 0.1% copper.

Drill hole APC-25 was designed as a step out hole along strike of the near surface high-grade zone of mineralization and intersected 106.85 metres @ 2.31 g/t gold equivalent starting at 65 metres vertical below surface. As a result, APC-25 has confirmed a shallow, westward expansion to the Main Breccia system and an apparent thickening to the high-grade near surface mineralized zone as the system is traced to the west.

Hole APC-26 was drilled to the northeast from Pad 4 and confirmed continuity of mineralization in that direction returning 136.9 metres @ 1.51 g/t gold equivalent contained within 311.2 metres at 1.04 g/t gold.

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.

Ari Sussman, Executive Chairman commented: “Not only is the Main Breccia system at Apollo a large, bulk tonnage deposit but it now appears to host an outcropping and shallow zone of high-grade mineralization, which clearly enhances the value of this exciting discovery. Based on surface sampling, the system appears to daylight over an area measuring approximately 150 metres in diameter and remains open for expansion. The Main Breccia system is truly evolving into a brand-new world-class discovery right in the heart of a prolific mining camp with continuous precious metal production dating back more than 500 years.”

TORONTO, Jan. 31, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from a further three holes drilled into the Main Breccia discovery at the Apollo target (“Apollo”), which is part of the Guayabales project located in Caldas, Colombia. The Main Breccia discovery is a high-grade, bulk tonnage copper-silver-gold porphyry-related system, which owes its excellent metal endowment to multiple phases of mineralization which includes older copper-silver-gold porphyry mineralization and younger, overprinting, precious metal rich sheeted carbonate base metal vein systems.

Details (See Table 1 and Figures 1–6)

Assay results for twenty-eight diamond drill holes have now been announced at Apollo with results for additional holes expected in the near term. This press release announces results of three diamond drill holes with results summarized below.

APC-25 was drilled to the northwest from Pad 3 to a maximum depth of 215.80 metres and intersected a shallow, western extension to the Main Breccia discovery averaging:

106.85 metres @ 2.31 g/t gold equivalent consisting of 0.81 g/t Au, 30 g/t Ag, 0.62% Cu and 30 ppm Mo beginning at 73 metres downhole (65 metres vertical).

The mineralized angular breccia of this intercept contains a sulphide matrix which includes 1.5% to 2.5% chalcopyrite and between 1% and 3% pyrite plus pyrrhotite. The breccia has been overprinted by a zone of carbonate and base metal (sphalerite and galena) veins, which host higher gold grades and returned an interval of 14 metres grading 3.65 g/t gold equivalent. APC-25 is the westernmost hole drilled into the Main Breccia discovery and demonstrates that the mineralization is open and is thickening in this direction. Drill holes have been designed to continue to step-out to the west to expand upon this high grade and near surface mineralization.

APC-26 was drilled northeast from pad 4 and confirms continuity within the Northern Extension Zone of the Main Breccia system, as previously defined in holes APC-17 and APC-22. The hole was drilled to a maximum downhole length of 813.7 metres and intercepted:

311.2 metres @ 1.04 g/t gold equivalent consisting of 0.74 g/t Au, 16 g/t Ag, 0.05% Cu and 10 ppm Mo from 415 metres down hole.

Gold and silver mineralization relates to sulphides hosted within the angular breccia matrix including pyrite (1%-3%), pyrrhotite (1%-2%) and chalcopyrite (0.5%-1%). A higher-grade sub-zone was encountered within the mineralized intercept averaging 136.9 metres at 1.51 g/t gold equivalent and is characterized by an increase in overprinting low and intermediate sulphidation, carbonate base metal (“CBM”) vein material including visible sphalerite and galena.

APC-29 was drilled to the north-northeast from Pad 3 to a maximum depth of 644.8 metres and intercepted three mineralized zones before the hole was abandoned short of target depth due to a complicated fault structure. The two shallow zones within this hole are located directly beneath mineralized surface outcrops with the initial 32.0 metre intercept of mineralization beginning at 111.3 metres downhole (80 metres vertical), and the second 8.65 metre mineralized zone starting at 194.8 metres downhole (143 metres vertical). These high-grade gold, silver, and copper shallow zones of mineralization are hosted within a matrix of angular quartz diorite breccia with the sulphide component consisting of chalcopyrite (0.5%-2%), pyrite (0.5%-2%) and pyrrhotite (0.5-1%). Finally, the third zone, which starts at 343.8 metres downhole (318 metres vertical) intersected more 301 metres of continuous mineralization including a higher-grade subzone over 214.4 metres. The sulphide mineralization within the breccia matrix of this intercept contained pyrrhotite (0.5%-2.5%), pyrite (1%-3%) and multiple zones of sheeted CBM vein material, which are predominantly sphalerite rich with minor galena. The following intercepts are summarized from APC-29:

32.00 metres @ 10.48 g/t gold equivalent consisting of 9.23 g/t Au, 60 g/t Ag, 0.44% Cu and 30 ppm Mo from 89.25 metres downhole (80 metres vertical depth).
8.65 metres @ 2.26 g/t gold equivalent consisting of 0.57 g/t Au, 82 g/t Ag, 0.27% Cu and 10 ppm Mo from 194.80 metres downhole (143 metres vertical depth).
214.40 metres @ 1.04 gold equivalent consisting of 0.77 g/t Au, 14 g/t Ag, 0.05% Cu and 10 ppm Mo from 343.80 metres downhole (318 metres vertical depth), which includes 98.20 metres @ 1.26 g/t gold equivalent.

The Company’s Phase II, 2023 program is well underway with two rigs focused on drilling near surface, high grade mineralization below mineralized outcrops in the southern and central areas of the Main Breccia system while simultaneously targeting expansion to the overall dimensions of the system to the west, northwest, north and northeast. Furthermore, a new drill pad (pad 8) has been constructed 150 south of the southernmost modelled boundary of the Main Breccia system at Apollo and reconnaissance drilling is underway to test a recently discovered porphyry target.

The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers a 1,000 metres X 1,200 metres area. The Apollo target area hosts the Company’s Main Breccia discovery and multiple additional untested breccia, porphyry and vein targets. The overall Apollo target area also remains open for further expansion.

Table 1: Apollo Target Assays Results for Holes APC-25, APC-26 and APC-29

HoleID	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Cu %	Mo %	AuEq(g/t) *	CuEq(%) *
APC-25	73.00	179.85	106.85	0.81	30	0.62	0.003	2.31	1.26
Incl.	111.00	125.00	14.00	2.00	35	0.75	0.005	3.65	2.00
APC-26	415.00	726.20	311.20	0.74	16	0.05	0.001	1.04
incl.	415.00	551.90	136.90	1.14	20	0.06	0.001	1.51
APC-29	111.30	143.30	32.00	9.23	60	0.44	0.003	10.48
and	194.80	203.45	8.65	0.57	82	0.27	0.001	2.26
and	343.80	644.80	301.00	0.63	14	0.05	0.001	0.90
Incl.	343.80	558.20	214.40	0.77	14	0.05	0.001	1.04
Incl.	460.00	558.20	98.20	1.26	15	0.04	0.001	1.51

* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) is calculated as follows: (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.

** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.

Figure 1: Plan View of the Main Breccia System at Apollo Highlighting Drill Holes APC-25, APC-26 and APC-29 (CNW Group/Collective Mining Ltd.)

Figure 2: Up Close View of Drill Holes Intersecting the Shallow, High-Grade Southern Zone Within the Main Breccia System at Apollo (CNW Group/Collective Mining Ltd.)

Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)

Figure 4: Core Photo Highlights from Drill Hole APC-25 (CNW Group/Collective Mining Ltd.)

Figure 5: Core Photo Highlights from Drill Hole APC-26 (CNW Group/Collective Mining Ltd.)

Figure 6: Core Photo Highlights from Drill Hole APC-29 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Qualified Person (QP) and NI43-101 Disclosure

David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).

Technical Information

Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.

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.

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, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, canadian gold stocks list, CNL, Collective Mining, InvestingInColombia

Base Metals Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Seeks to Extend Warrants

Post author By admin
Post date January 30, 2023

Burlington, Ontario–(Newsfile Corp. – January 30, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces it is applying to the TSX Venture Exchange to extend all warrants related to the Company’s $0.30 round of financing (the “Warrants”). The Warrants have a two-year term, are exercisable at $0.50 (fifty cents) and were issued in various tranches from February 6, 2021 to July 8, 2021.

The Company is seeking regulatory approval to extend all Warrants for one additional year from their original expiry dates.

With respect to the Arizona mining and milling operations, SBMI expects to be able to make further disclosure within two weeks.

For further information, please contact:

John Carter
Silver Bullet Mines Corp., CEO
cartera@sympatico.ca
+1 (905) 302-3843

Peter M. Clausi
Silver Bullet Mines Corp., VP Capital Markets
pclausi@brantcapital.ca
+1 (416) 890-1232

Cautionary and Forward-Looking Statements

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global pathogen; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; shareholder and regulatory approvals; activities and attitudes of communities local to the location of the SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global pathogens create risks that at this time are immeasurable and impossible to define.

The Issuer has not based its production decision on current resources or the results of a pre-feasibility study of mineral resources to establish mineral reserves demonstrating technical and economic viability. Significant uncertainty exists on the presence of any economic mineable material.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152930

Tags #BuckeyeMine, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #SBMI, #WashingtonMine, John Carter

Base Metals Dolly Varden Silver Junior Mining Precious Metals

Dolly Varden Silver Reports Multiple Gold and Silver Intersections at Homestake Ridge, with 46.31 g/t Au and 70 g/t Ag over 25m, Including 1,145 g/t Au and 826 g/t Ag over 0.48m

Post author By admin
Post date January 30, 2023

Vancouver, British Columbia–(Newsfile Corp. – January 30, 2023) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce drill results from the 100%-owned Homestake Ridge property in BC’s Golden Triangle.

Highlights from the Homestake Main Deposit include*:

HR22-324: 4.32 g/t Au and 76 g/t Ag over 22.50 meters including 19.42 g/t Au and 375 g/t Ag over 4.50 meters
HR22-333: 46.31 g/t Au, 70 g/t Ag and 0.19% Cu over 25.00 meters including 1,145 g/t Au, 826 g/t Ag and 0.51% Cu over 0.48 meters
HR22-336: 6.19 g/t Au and 1,844 g/t Ag over 3.90 meters and 6.37 g/t Au, 29 g/t Ag and 1.51% Cu over 6.00 meters

HR22-338: 4.16 g/t Au, 21 g/t Ag and 1.42% Cu over 5.10 meters including 20.80 g/t Au, 115 g/t Ag and 11.60% Cu over 0.50 meters
HR22-345: 8.73 g/t Au and 12 g/t Ag over 29.54 meters, including 260 g/t Au, 102 g/t Ag over 0.70 meters
HR22-359: Three individual higher grade zones grading; 49.49 g/t Au over 1.52m, 24.00 g/t Au over 0.70m and 46.20 g/t Au over 0.50m within a 40.50 meter interval

* Intervals are core length; estimated true widths vary from 80 to 90% of core length interval, assays are uncut

Highlights from the Homestake Silver Deposit include*:

HR22-349: 211 g/t Ag over 3.50 meters, and 688 g/t Ag over 0.80 meters
HR22-357: Three individual higher grade silver intersects grading; 1,185 g/t Ag over 0.50m, 816 g/t Ag over 0.50m and 1,085 g/t Ag over 0.50m within a 129m wide structural corridor
HR22-361: 2,500 g/t Ag, 15.04 g/t Au and 0.17% Cu over 1.20 meters
HR22-362: 1,252 g/t Ag, 0.81 g/t Au and 0.14% Cu over 2.50 meters, including 3,330 g/t Ag, 0.75 g/t Au and 0.38% Cu over 0.75m
HR22-365: 469 g/t Ag over 2.70 meters including 1,040 g/t Ag over 0.65 meters

* Intervals are core length; estimated true widths vary from 70 to 90% of core length interval, assays are uncut

“Dolly Varden Silver’s initial drilling at the Homestake Main Deposit has returned consistent mineralized intervals with some of the highest grades of gold with silver reported from the Property to date, but also the entire Golden Triangle during the 2022 drilling season,” said Shawn Khunkhun, President and CEO. “Coupled with the exceptional grades and thicknesses of silver mineralization encountered in step-out holes at the Wolf and Kitsol Deposits, we are demonstrating the impressive precious metal endowment and potential of the Kitsault Valley trend.”

The objective of drilling during 2022 at the Homestake Main and Homestake Silver deposits was to expanded multiple, subparallel mineralized zones and to upgrade Inferred Mineral Resources. A total of 41 holes for 10,472 meters were completed at the Homestake Main Deposit, 12 holes for 6,076 meters were completed at the Homestake Silver Deposit and 3 additional exploration holes for 1,900 meters were completed along the Homestake Ridge Trend during the 2022 season.

Figure 1. Homestake Ridge Deposits within Dolly Varden’s Kitsault Valley Trend.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_002full.jpg

The Homestake Ridge deposits are interpreted as structurally-controlled, multi-phase epithermal vein and breccia systems hosted in early Jurassic-age Hazelton Group volcanic rocks. Mineralization consists primarily of pyrite and chalcopyrite in a breccia matrix within a silica breccia vein system, locally with native gold, silver and electrum. (see Figure 3). The northwestern strike of the main Homestake structural trend hosts multiple, subparallel internal structures that are interpreted to form the controls for high-grade gold shoots within a broader interval of mineralization at the Homestake Main deposit. The main structural corridor dips steeply to the northeast (see Figure 4 to 6).

Figure 2. Homestake Main and Homestake Silver Long Section (looking west) with 2022 drilling highlighted.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_003full.jpg

Homestake Main

The results from Homestake Main are primarily infill drilling from areas of current Inferred Mineral Resources and suggest that the higher-grade gold-silver shoots may be more extensive than previously interpreted. In addition, the drilling has generated new targets down-dip the Homestake Main deposit along the projected plunge of the higher grade shoots that are wide open for expansion. Oriented core was used on all drill holes on the project and this detailed structural data is also being integrated in to the geological model to further increase confidence.

Four of the drill holes at Homestake Main were drilled below the Mineral Resource domains to test for down dip extensions. Drill holes HR22-326, 329, 351 and 354 all intersected the structures that host gold mineralization below the resource.

One step out drill hole, HR22-355, was drilled along trend and approximately 250m north of Homestake Main. Alteration associated with the main deposit was encountered with minor brecciation returning anomalous pathfinder elements as seen in the upper levels of the mineralization system at the Homestake Main Deposit indicating the system continues to the north.

Complete Assay results for the second batch of drilling results from Homestake Main are in Table 1.

Figure 3. Drill hole HR22-333 from the Homestake Main deposit showing breccia vein style mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_004full.jpg

Homestake Silver

The 2022 drilling at the Homestake Silver Deposit area was a combination of step out holes below the primarily Inferred Mineral Resource as well as some infill drilling designed to convert Inferred resources to Indicated classification. Six infill drill holes, HR22-340, 344, 349, 353, 358 and 361, were collared off three drill pads at the southern end of the deposit (see Figure 8). The mineralization encountered in these holes is consistent with previous drilling.

Expansion drill Holes HR22-364, 365 and 366 targeted the south end while HR22-357 and 360 in the northern end of Homestake Silver testing below several of the resource domains. Drilling intersected silver mineralization (see figure 4) within multiple vein stockwork zones extending the zones to depth. These areas remain open down dip.

Figure 4. Drill hole HR22-366, 473m depth, down dip step out from the Homestake Silver deposit showing Native Silver in breccia vein style mineralization.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_005full.jpg

Step out drill hole HR22-362, located approximately 200m down dip and along the targeted projection of a Homestake Silver resource domain intersected vein breccia over 2.50m core length grading 1,252 g/t Ag, including 0.75m grading 3,330 g/t Ag. Relatively little drilling has been completed at Homestake Silver and with these step out mineralized intersections the expansion potential to depth and along strike has been demonstrated.

Complete Assay results for the 2022 Homestake Silver drilling are in Table 2.

Homestake Trend Exploration

Two new areas within the Homestake Trend were tested with three drill holes. Drill holes HR22-311 and 312 were collared 425m to the south of the Homestake Silver Deposit to test below sedimentary cover rocks (see Figure 2). Although alteration of the volcanic rock below the sediment cover was present, no significant mineralization was encountered. Further geophysics will be completed over this area to aid in targeting the southern projection of the Homestake Ridge structural corridor below the sediment cover.

Drill hole HR22-363 was drilled 1.2 kilometers to the east of Homestake Main to test a dominant Northeast trending controlling structure within the centre of the valley. No significant mineralization was encountered within the structure in that area.

Plans, Sections and Tables

Figure 5. Homestake Main Plan View highlighting 2022 Infill and Step out drilling (red collars) with Current Mineral Resource block model, primarily of Inferred Classification.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_006full.jpg

Figure 6. Homestake Main Cross Section 300NW (A-B) with completed 2022 intersects.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_007full.jpg

Figure 7. Homestake Main Cross Section 250NW (C-D) with 2022 and previous drill holes.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_008full.jpg

Figure 8. Homestake Silver Plan View highlighting 2022 Step out and Infill drilling (red collars) with Current Mineral Resource block model, primarily of Inferred Classification.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/152849_bf40b273347ffa2d_009full.jpg

Table 1. Complete Drill Hole Assays from the Homestake Main Deposit Infill drilling

Hole ID	From (m)	To (m)	*Length (m)**	Au (g/t)**	Ag (g/t)**	Cu (%)
HR22-324	152.00	174.50	22.50	4.32	76	NSV
including	170.00	174.50	4.50	19.42	375	NSV
including	171.96	172.40	0.44	166	984	NSV
HR22-326	451.00	472.80	21.80	0.47	NSV	NSV
including	461.00	463.00	2.00	3.00	NSV	NSV
HR22-329	413.46	450.55	37.09	0.73	NSV	NSV
including	418.00	422.00	4.00	4.03	6	NSV
including	423.00	424.00	1.00	1.62	9	NSV
HR22-332	252.40	265.20	12.80	0.33	NSV	0.18
including	256.50	258.00	1.50	0.81	11	1.09
including	344.50	345.50	1.00	1.39	16	NSV
and	393.00	403.25	10.25	0.79	NSV	NSV
including	397.50	400.50	3.00	2.30	40	NSV
HR22-333	92.00	105.00	13.00	1.05	21	NSV
including	98.30	99.08	0.78	13.95	196	NSV
and	117.00	142.00	25.00	46.31	70	0.19
including	120.26	130.10	9.84	111.94	162	0.37
including	124.67	125.15	0.48	1,145	826	0.51
HR22-336	96.30	100.20	3.90	6.19	1,844	NSV
including	96.62	97.00	0.38	3.78	13,855	0.49
and	132.00	157.00	25.00	1.95	NSV	0.38
including	133.00	139.00	6.00	6.37	29	1.51
HR22-338	120.90	126.00	5.10	4.16	21	1.42
including	120.90	121.40	0.50	20.80	115	11.60
including	128.60	129.84	1.24	8.92	52	1.38
and	150.50	159.00	8.50	0.63	5	0.21
including	150.50	151.30	0.80	4.89	28	1.43
and	175.50	178.50	3.00	0.61	17	0.45
including	177.00	177.65	0.65	1.17	43	1.55
HR22-341	84.00	113.00	29.00	2.28	5	0.13
including	96.00	107.00	11.00	5.27	9	0.33
including	102.00	104.00	2.00	14.85	20	0.73
HR22-342	79.32	102.00	22.68	0.80	57	NSV
including	88.31	92.00	3.69	2.95	8	NSV
and	120.00	140.44	20.44	0.57	NSV	NSV
including	121.13	123.70	2.57	2.39	5	0.29
HR22-343	84.50	115.00	30.50	1.15	NSV	NSV
including	92.27	96.80	4.53	1.59	NSV	NSV
including	99.19	103.30	4.11	2.67	5	NSV
including	107.00	109.00	2.00	4.45	15	0.35
HR22-345	95.00	124.54	29.54	8.73	12	0.13
including	115.12	124.54	9.42	26.25	28	0.37
including	120.00	120.70	0.70	260	102	NSV
HR22-346	111.00	126.05	15.05	1.04	NSV	NSV
including	119.75	122.75	3.00	3.47	9	0.37
HR22-347	135.00	156.00	21.00	1.88	NSV	0.04
including	135.00	147.00	12.00	2.57	NSV	0.07
HR22-348	63.00	71.00	8.00	0.16	NSV	NSV
and	80.00	111.00	31.00	1.63	NSV	NSV
including	88.00	100.00	12.00	3.24	NSV	0.14
HR22-350	66.00	128.00	62.00	0.87	NSV	NSV
including	77.00	94.00	17.00	2.05	NSV	NSV
HR22-351	436.00	438.00	2.00	0.36	NSV	NSV
and	473.70	477.50	3.80	0.30	NSV	NSV
HR22-352	172.00	227.00	55.00	1.37	4	0.20
including	178.81	179.81	1.00	53.75	54	2.03
including	202.33	203.33	1.00	3.65	63	4.68
including	211.00	212.45	1.45	1.22	9	0.16
HR22-354	495.00	498.90	3.90	0.12	NSV	NSV
HR22-355 (step out)	645.00	648.50	3.50	0.12	NSV	NSV
and	662.00	666.75	4.75	0.18	NSV	NSV
HR22-356	212.00	218.00	6.00	0.38	NSV	NSV
and	221.00	221.50	0.50	4.32	NSV	NSV
and	291.50	308.00	16.50	0.21	NSV	NSV
HR22-359	49.70	50.20	0.50	0.74	6,420	0.11
and	111.63	113.15	1.52	49.49	50	0.96
and	136.85	137.55	0.70	24.00	76	0.38
and	141.00	141.50	0.50	46.20	6	NSV

*Estimated true widths vary depending on intersection angles and range from 80% to 90% of core lengths
** Assays reported are uncut

Table 2. Completed Drill Hole Assays from the Homestake Silver Deposit step out and Infill drilling

Hole ID	From (m)	To (m)	*Length (m)**	Au (g/t)**	Ag (g/t)**	Cu (%)
HR22-340	46.00	56.00	10.00	NSV	97	NSV
HR22-344	81.00	82.00	1.00	NSV	112	NSV
and	152.00	153.00	1.00	NSV	103	NSV
and	166.00	167.00	1.00	0.39	NSV	NSV
and	197.75	204.75	7.00	0.13	65	NSV
including	197.75	198.50	0.75	0.13	146	NSV
and	408.00	410.00	2.00	0.14	72	NSV
HR22-349	153.00	156.50	3.50	NSV	211	0.12
and	159.20	160.00	0.80	NSV	688	NSV
and	325.80	329.00	3.20	0.12	210	NSV
and	337.00	341.00	4.00	0.50	287	NSV
and	355.47	356.18	0.71	0.10	434	NSV
and	361.50	362.80	1.30	NSV	151	NSV
HR22-353	239.22	256.00	16.78	NSV	119	NSV
including	239.22	243.27	4.05	NSV	242	NSV
including	253.79	256.00	2.21	0.17	154	NSV
HR22-357	194.38	195.50	1.12	0.16	318	NSV
and	200.00	200.50	0.50	NSV	151	NSV
and	206.60	209.30	2.70	0.08	506	NSV
including	206.60	207.10	0.50	0.11	1,185	NSV
and	239.00	239.50	0.50	0.11	816	NSV
and	298.70	299.20	0.50	NSV	1,085	0.18
and	315.60	316.15	0.55	0.17	585	NSV
and	335.10	335.90	0.80	0.30	351	NSV
HR22-358	110.27	111.92	1.65	NSV	132	NSV
and	136.69	137.10	0.41	NSV	192	NSV
and	250.77	251.17	0.40	0.08	386	NSV
and	326.61	327.12	0.51	0.63	161	NSV
and	331.00	332.00	1.00	0.07	215	NSV
HR22-360	205.40	206.00	0.60	0.08	339	NSV
and	229.00	229.50	0.50	0.07	425	NSV
and	243.75	244.25	0.50	NSV	136	NSV
and	278.25	279.25	1.00	NSV	148	NSV
and	315.00	317.00	2.00	NSV	310	NSV
and	328.50	329.50	1.00	0.10	488	NSV
and	331.00	332.70	1.70	0.13	690	NSV
and	336.00	336.50	0.50	0.60	1,270	NSV
and	337.45	341.70	4.25	0.40	251	NSV
and	396.00	399.00	3.00	2.31	39	NSV
and	444.00	446.00	2.00	0.68	NSV	NSV
HR22-361	165.17	165.63	0.46	NSV	599	NSV
and	213.33	213.65	0.32	0.37	99	NSV
and	226.10	227.30	1.20	15.04	2,500	0.17
and	317.01	317.41	0.40	2.07	45	0.44
HR22-362	633.00	635.50	2.50	0.81	1,252	0.14
including	634.00	634.75	0.75	2.24	3,330	0.38
HR22-364	486.75	488.60	1.85	0.16	15	NSV
HR22-365	184.70	186.85	2.15	NSV	187	NSV
and	190.75	193.45	2.70	NSV	469	NSV
including	192.30	192.95	0.65	NSV	1,040	NSV
and	512.00	512.85	0.85	0.31	98	NSV
HR22-366	472.70	473.27	0.57	0.70	2,760	0.06

*Estimated true widths vary depending on intersection angles and range from 70% to 90% of core lengths
** Assays reported are uncut

Table 3. Drill Hole Collars for 2022 Homestake Main Deposit Area Drilling (this release)

Hole ID	Easting UTM83 (m)	Northing UTM83 (m)	Elev. (m)	Azimuth	Dip	Length (m)
HR22-324	462956	6179462	956	225	-80	201.00
HR22-326	463126	6179555	903	215	-72	472.50
HR22-329	463126	6179555	903	232	-72	495.00
HR22-332	462965	6179544	922	240	-73	402.00
HR22-333	463089	6179383	982	225	-47	210.00
HR22-336	463034	6179363	1009	225	-76	186.00
HR22-338	463034	6179363	1009	240	-56	186.00
HR22-341	462902	6179443	961	220	-48	120.00
HR22-342	462995	6179395	996	225	-65	198.00
HR22-343	462902	6179443	961	220	-50	150.00
HR22-345	462919	6179389	1007	225	-66	132.00
HR22-346	462866	6179514	943	225	-50	180.00
HR22-347	462866	6179514	943	225	-60	192.00
HR22-348	462919	6179389	1007	225	-50	111.00
HR22-350	462919	6179389	1007	200	-45	132.00
HR22-351	463323	6179506	854	225	-45	522.00
HR22-352	463132	6179416	949	200	-55	351.00
HR22-354	463314	6179608	842	226	-45	502.00
HR22-355	462865	6179922	1066	245	-60	682.00
HR22-356	463050	6179452	956	255	-74	399.00
HR22-359	462919	6179389	1007	160	-45	288.00

Table 4. Drill Hole Collars for 2022 Homestake Silver Deposit Area Drilling

Hole ID	Easting UTM83 (m)	Northing UTM83 (m)	Elev. (m)	Azimuth	Dip	Length (m)
HR22340	463802	6178573	801	223	-46	360.00
HR22344	463802	6178573	801	223	-56	435.00
HR22349	463805	6178612	793	223	-45	435.00
HR22353	463805	6178612	793	223	-57	477.00
HR22358	463780	6178621	803	223	-50	467.00
HR22361	463780	6178621	803	223	-56	390.00
HR22357	463578	6179147	834	220	-55	528.00
HR22360	463578	6179147	834	230	-50	600.00
HR22362	464180	6178462	716	235	-50	681.00
HR22364	463833	6178779	763	223	-50	600.00
HR22365	463912	6178711	749	223	-50	531.00
HR22366	463964	6178647	745	220	-53	570.00

Table 5. Drill Hole Collars for 2022 Homestake Exploration Drilling

Hole ID	Easting UTM83 (m)	Northing UTM83 (m)	Elev. (m)	Azimuth	Dip	Length (m)
HR22311	464460	6177976	714	250	-50	903.00
HR22312	464460	6177976	714	230	-55	520.00
HR22363	464217	6179802	840	190	-75	471.00

The Company Engages Gold Standard Media LLC

The Company has engaged internet marketing and advertising company, Gold Standard Media, LLC (“GSM”), to prepare email marketing campaigns, landing pages, advertisements, and other related services to assist the Company in raising public awareness of the Company and enhance its online presence.

GSM is a limited liability company existing under the laws of the State of Texas with an office at 723 W, University Ave. #110-283 Georgetown Texas. GSM uses affiliated entities such as Future Money Trends and Portfolio Wealth Global LLC for the purpose of these marketing activities. Under the terms of the agreement GSM will be paid US$125,000 for a 12 month period.

Quality Assurance and Quality Control

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

Qualified Person

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

About Dolly Varden Silver Corporation

Forward-Looking Statements

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/152849

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

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