Category: Precious Metals

Goldshore Intersects 192.75m @ 1.02 g/t Au from 94.45m depth in MMD-22-051

Post author By admin
Post date September 29, 2022

Vancouver, British Columbia–(Newsfile Corp. – September 29, 2022) – 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:

Results for five holes, drilled to infill historic but poorly surveyed drill sections in the Main Zone, have confirmed higher-grade gold mineralization within a large volume of well mineralized diorite with best intercepts of:
192.75m @ 1.02 g/t Au from 94.45m depth in MMD-22-051, including
- 62m @ 1.49 g/t Au from 113m and
- 48.7m @ 1.29 g/t Au from 208.3m
11.85m @ 1.87 g/t Au from 441.15m depth in MMD-22-041

https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522hashtag%2522%253A%25221542500%253B1480989%253B1481489%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522edcf3955-29bf-3281-9413-5d4a859f4f68%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

28.0m @ 1.51 g/t Au from 580.0m depth in MMD-22-046, including
- 11.0m @ 3.45 g/t Au from 587.0m
9.75m @ 1.78 g/t Au from 282.55m depth in MMD-22-047
34.25m @ 1.03 g/t Au from 209.0m depth in MMD-22-049, including
- 3.8m @ 6.98 g/t Au from 239.45m

President and CEO Brett Richards stated: “As we have been discussing for some time, the continued results of intersecting wide zones of +1 g/t Au mineralization underpin our belief that the Moss Lake Deposit has potential to develop an initial high-grade phase 1 open pit within the larger low-grade open pit operation. It can be seen that the projected grade shell of +1.0 g/t Au is significant at this early stage, and we will look to further explore these high grade areas, as we continue with our program.”

Technical Overview

Figure 1 shows the better intercepts in plain view and Figure 2 is a typical section through hole MMD-22-041 and MMD-22-051.

Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to implicit modelled grade shells

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/138713_5b416c09a4a41877_002full.jpg

Figure 2: Drill section through MMD-22-041 and MMD-22-051 relative to implicit modelled grade shells

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/138713_5b416c09a4a41877_003full.jpg

Table 1 shows the significant intercepts. Table 2 shows the drill hole locations.

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-22-041	41.00	45.00	4.00	2.0	0.38	0.38
	132.80	137.00	4.20	2.1	0.75	0.75
	152.75	158.60	5.85	3.0	0.39	0.39
	175.35	187.00	11.65	5.9	0.30	0.30
	189.90	205.25	15.35	7.8	0.36	0.36
	258.75	262.15	3.40	1.7	0.48	0.48
	308.10	332.05	23.95	12.3	0.67	0.67
including	330.00	332.05	2.05	1.1	1.89	1.89
	348.45	383.00	34.55	18.0	0.43	0.43
including	380.00	382.00	2.00	1.0	2.50	2.50
	439.00	480.00	41.00	21.3	0.79	0.79
including	441.15	453.00	11.85	6.1	1.87	1.87
	493.00	495.35	2.35	1.2	0.32	0.32
	519.00	565.75	46.75	24.3	0.46	0.46
including	525.00	527.00	2.00	1.0	2.18	2.18
and	543.50	549.00	5.50	2.9	1.02	1.02

MMD-22-046	8.00	37.50	29.50	14.3	0.50	0.50
including	29.40	31.40	2.00	1.0	1.16	1.16
	65.00	111.00	46.00	21.9	0.82	0.82
including	66.00	77.00	11.00	5.3	1.41	1.41
and	100.00	111.00	11.00	5.2	1.30	1.29
	144.00	148.00	4.00	1.9	0.31	0.31
	154.00	157.00	3.00	1.4	0.55	0.55
	172.00	182.00	10.00	4.6	1.29	1.29
including	176.00	182.00	6.00	2.8	1.96	1.96
	220.00	239.00	19.00	8.5	0.48	0.48
	253.00	268.00	15.00	6.7	0.35	0.35
	306.45	346.00	39.55	17.3	0.71	0.71
including	307.00	312.25	5.25	2.3	2.48	2.48
and	334.00	336.10	2.10	0.9	2.93	2.93
and	342.00	344.20	2.20	1.0	1.27	1.27
	370.00	386.90	16.90	7.4	0.37	0.37
	411.00	416.90	5.90	2.5	0.31	0.31
	421.90	496.55	74.65	32.1	0.66	0.66
including	424.00	426.00	2.00	0.9	2.51	2.51
and	468.10	472.00	3.90	1.7	3.37	3.37
	512.45	520.00	7.55	3.2	0.46	0.46
	575.00	577.00	2.00	0.8	0.45	0.45
	580.00	608.00	28.00	11.8	1.51	1.51
including	587.00	598.00	11.00	4.6	3.45	3.45

MMD-22-047	26.50	59.70	33.20	22.6	0.36	0.36
including	40.50	43.90	3.40	2.3	1.08	1.08
	94.90	107.00	12.10	8.4	0.35	0.35
	136.40	138.90	2.50	1.7	0.30	0.30
	141.90	204.90	63.00	43.8	0.37	0.37
including	172.20	175.05	2.85	2.0	1.12	1.12
	239.90	242.75	2.85	2.0	1.09	1.09
including	240.65	242.75	2.10	1.5	1.29	1.29
	282.55	333.90	51.35	36.9	0.73	0.73
including	282.55	292.30	9.75	7.0	1.78	1.78
	363.90	366.20	2.30	1.7	0.52	0.52
	371.80	375.60	3.80	2.8	0.36	0.36
	398.90	407.70	8.80	6.4	0.54	0.54
	580.00	582.70	2.70	2.1	0.34	0.34

MMD-22-049	20.00	47.00	27.00	13.8	0.59	0.59
	68.25	91.00	22.75	11.6	0.48	0.48
	140.00	142.00	2.00	1.0	0.35	0.35
	166.00	193.00	27.00	13.7	0.44	0.44
	209.00	243.25	34.25	17.7	1.03	1.03
including	217.95	220.00	2.05	1.1	2.09	2.09
and	239.45	243.25	3.80	2.0	6.98	6.98
	254.35	279.70	25.35	13.2	0.66	0.66
including	254.80	260.65	5.85	3.1	2.07	2.07
	290.75	318.00	27.25	14.1	0.50	0.50
	353.00	410.00	57.00	29.4	0.51	0.51
	434.00	436.00	2.00	1.1	0.54	0.54
	468.50	471.40	2.90	1.6	0.31	0.31
	518.00	523.00	5.00	2.8	0.38	0.38
	572.00	575.30	3.30	1.9	0.53	0.53
	640.70	642.90	2.20	1.3	0.59	0.59

MMD-22-051	44.85	55.60	10.75	7.9	0.35	0.35
	94.45	287.20	192.75	149.1	1.02	1.02
including	94.45	97.00	2.55	1.9	1.08	1.08
and	113.00	175.00	62.00	48.0	1.49	1.49
and	188.00	191.80	3.80	2.9	1.59	1.59
and	208.30	257.00	48.70	37.7	1.29	1.29
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-22-041	668,784	5,379,185	436	154°	-61°	606.0
MMD-22-046	668,865	5,379,218	435	156°	-61°	609.1
MMD-22-047	669,155	5,379,424	429	153°	-47°	602.05
MMD-22-049	668,953	5,379,245	428	155°	-60°	666.05
MMD-22-051	668,704	5,379,104	434	154°	-45°	293.0
Approximate collar coordinates in NAD 83, Zone 15N

Results have been received for five holes that have infilled areas of the Main Zone that are between sections drilled by historic holes with collar survey problems. As a result, they will replace the low-confidence historic holes in the upcoming resource model update.

As with the historic holes, these holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 41.0m @ 0.79 g/t Au from 439.0m depth and 46.75m @ 0.46 g/t Au from 519.0m in MMD-22-041; 88.0m @ 0.48 g/t Au from 388.0m in MMD-22-042; 46.0m @ 0.82 g/t Au from 65.0m, 39.55m @ 0.71 g/t Au from 306.45m and 74.65m @ 0.66 g/t Au from 421.9m in MMD-22-046; 63.0m @ 0.37 g/t Au from 141.9m and 51.35m @ 0.73 g/t Au from 282.55m in MMD-22-047; and 57.0m @ 0.51 g/t Au from 353.0m in MMD-22-049. The long intercept in MMD-22-051 of 192.75m @ 1.02 g/t Au from 94.45m is similar but higher grade.

All these low-grade zones occur as envelopes to higher-grade structures that form a three-dimensional, anastomosing shear network that has developed in response to strain on the altered diorite intrusion. Results include the broad zones of +1 g/t Au mineralization shown in the highlights (e.g., 192.75m @ 1.02 g/t Au from 94.45m depth in MMD-22-051) and several narrow high-grade intervals, including 1.0m @ 9.14 g/t Au from 449.0m depth in MMD-22-041; 1.0m @ 12.7 g/t Au from 441.0m, 0.9m @ 9.99 g/t Au from 468.1m and 1.0m @ 16.6 g/t Au from 587.0m in MMD-22-046; 0.85m @ 5.93 g/t Au from 290.7m in MMD-22-047; 0.45m @ 8.22 g/t Au from 30.55m, 0.75m @ 12.0 g/t Au from 421.25m, 0.55m @ 9.93 g/t Au from 306.95m and 0.65m @ 15.1 g/t Au from 365.35m in MMD-22-049; and 1.0m @ 14.0 g/t Au from 159.0m and 1.0m @ 10.6 g/t Au from 256.0m in MMD-22-051.

Geological modelling of the altered diorite host rock and anastomosing shear network has progressed faster than anticipated and is nearly complete. The new model will enable the interpolation of low and high-grade gold populations within constraining wireframes, which we expect will provide a more accurate estimation of the gold distribution and, therefore, the contained gold resource.

Pete Flindell, VP Exploration for Goldshore, said, “These drill results confirm our contention that there are coherent zones of +1 g/t Au gold mineralization with a “sea” of low grade mineralization that should allow for the generation of a smaller, higher-grade resource at the Moss Lake Project. Drilling around these higher grade zones continues.”

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 the Moss Lake Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an approximate 27% 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.

About the Moss Lake Gold Project

The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims.

The Moss Lake Gold Project hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 3), the historically producing North Coldstream Mine (Table 4), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment (the “Moss Lake Historical Estimate“) was completed on the Moss Lake Gold Project in 2013 and published by Moss Lake Gold Mines Ltd. (“Moss Lake Gold Mines“)¹^,³. A historical mineral resource estimate (the “East Coldstream Historical Estimate“) was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc.^2,3 In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome Gold Mines Ltd. (“Wesdome“), which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.

The East Coldstream Deposit is a shear-hosted disseminated-style gold deposit which locally outcrops at surface. It has been drilled over a 1.3 km length and to depths of 200 m with 138 holes completed between 1988 and 2017. The deposit remains largely open at depth and may have the potential for expansion along strike. Historic drill hole highlights from the East Coldstream Deposit include 4.86 g/t Au over 27.3 m in C-10-15.

The historically producing North Coldstream Mine is reported to have produced significant amounts of copper, gold and silver⁴ from mineralization with potential iron-oxide-copper-gold deposit style affinity. The exploration potential immediately surrounding the historic mining area is not currently well understood and historic data compilation is required.

The Hamlin Zone is a significant occurrence of copper and gold mineralization, and also of potential iron-oxide-copper-gold deposit style affinity. Between 2008 and 2011, Glencore tested Hamlin with 24 drill holes which successfully outlined a broad and intermittently mineralized zone over a strike length of 900 m. Historic drill hole highlights from the Hamlin Zone include 0.9 g/t Au and 0.35% Cu over 150.7 m in HAM-11-75.

The Moss Lake, East Coldstream and North Coldstream deposits sit on a mineral trend marked by a regionally significant deformation zone locally referred to as the Wawiag Fault Zone in the area of the Moss Lake Deposit. This deformation zone occurs over a length of approximately 20 km on the Moss Lake Gold Project and there is an area spanning approximately 7 km between the Moss Lake and East Coldstream deposits that is significantly underexplored.

Table 3: Historical Mineral Resources^1,2,3

	INDICATED	INFERRED
Deposit	Tonnes	Au g/t	Au oz	Tonnes	Au g/t	Au oz
Moss Lake Historical Estimate
Open Pit Potential	39,795,000	1.1	1,377,300	48,904,000	1.0	1,616,300
Underground Potential	–	–	–	1,461,100	2.9	135,400
Moss Lake Total	39,795,000	1.1	1,377,300	50,364,000	1.1	1,751,600

East Coldstream Historical Estimate
East Coldstream Total	3,516,700	0.85	96,400	30,533,000	0.78	763,276

Combined Total

43,311,700

1.08

1,473,700

80,897,000

0.98

2,514,876

Notes:

(1) Source: Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J. “Technical Report and Preliminary Economic Assessment for the Moss Lake Project”, prepared for Moss Lake Gold Mines Ltd. The qualified persons for the Moss Lake Historical Estimate are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the Moss Lake Historical Estimate is February 8, 2013. In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The Moss Lake Historical Estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts. Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500. In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade. The Moss Lake Historical Estimate is based on 352 diamond drill holes (90,978 m) drilled from 1983 and 2008. A fixed density of 2.78 g/cm3 was used. A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed. Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m. The Indicated category is defined by combining the blocks within the two main zones and various statistical criteria, such as average distance to composites, distance to closest composite, quantity of drill holes within the search area. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.

(2) Source: McCracken, T. “Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario”, prepared for Foundation Resources Inc. and Alto Ventures Ltd. The East Coldstream Historical Estimate is based on a 0.4 g/t Au cut-off grade. The qualified persons for the East Coldstream Historical Estimate are Todd McCracken, P.Geo. (Tetratech Wardrop), and Jeff Wilson, Ph.D., P.Geo. (Tetratech Wardrop), and the effective date of the East Coldstream Historical Estimate is December 12, 2011. Resources are presented unconstrained, undiluted and in situ. The East Coldstream Historical Estimate includes 2 gold-bearing zones. A cut-off grade of 0.4 g/t Au was selected as the official resource cut-off grade. The East Coldstream Historical Estimate is based on 116 diamond drill holes drilled from 1986 to 2011. A fixed density of 2.78 g/cm3 was used. Capping was established at 5.89 g/t Au and 5.70 g/t Au for domains EC-1 and EC-2, respectively. This is supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Datamine Studio 3 version 3.20.5321.0. Resource categorization is based on spatial continuity based from the variography of the assays within the drillholes. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.

(3) The reader is cautioned that the Moss Lake Historical Estimate East and the East Coldstream Historical Estimate (the “Historical Estimates“) are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. The Company has determined these historical resources are reliable, and relevant to be included here in that they demonstrate simply the mineral potential of the Moss Lake Gold Project. A qualified person has not done sufficient work to classify the Historical Estimates as current resources and Goldshore is not treating the Historical Estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the Historical Estimates can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category. The Historical Estimates relating to inferred mineral resources were calculated using prior mining industry standard definitions and practices for estimating mineral resource and mineral reserves. Such prior definitions and practices were utilized prior to the implementation of the current standards of the Canadian Institute of Mining for mineral resource estimation, and have a lower level of confidence.

Table 4: Reported Historical Production from the North Coldstream Deposit⁴

Deposit	Tonnes	Cu %	Au g/t	Ag	Cu lbs	Au oz	Ag oz
Historical Production	2,700,0000	1.89	0.56	5.59	102,000,000	44,000	440,000

Note:

(4) Source: Schlanka, R., 1969. Copper, Nickel, Lead and Zinc Deposits of Ontario, Mineral Resources Circular No. 12, Ontario Geological Survey, pp. 314-316.

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, 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.

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Tags #BrettRichards, #GoldShoreResources, #GSHR, #JuniorMining, #MauriceJackson, #MossLakeProject, #ProvenAndProbable

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Post author By admin
Post date September 28, 2022

North Vancouver, British Columbia–(Newsfile Corp. – September 28, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has closed its previously announced bought deal offering of 17,348,000 units (the “Units“) (including 1,108,0000 Units issued pursuant to Eight Capital and Canaccord Genuity Corp.’s (together, the “Underwriters“) partial exercise of the over-allotment option granted to the Underwriters) at a price of $0.77 per Unit for gross proceeds of $13,357,960 (the “Offering“).

Each Unit consists of a common share of the Company (each, a “Common Share“) and one-half (1/2) of one common share purchase warrant (each whole common share warrant, a “Warrant“) to purchase a Common Share at a price of $1.05 for a period of 36 months following the closing date of the Offering. In the event that the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (the “TSX-V“), or such other principal exchange on which the Common Shares are then trading, is greater than $1.75 for a period of twenty consecutive trading days at any time after the closing of the Offering, the Company may accelerate the expiry date of the Warrants by giving written notice to the holder thereof and in such case the Warrants will expire on the 30th day after the date on which such notice is given by the Company.

Pursuant to the Offering the Company issued 1,040,880 compensation warrants (the “Compensation Warrants“) to the Underwriters. Each Compensation Warrant is exercisable to purchase a Common Share at a price of $0.77 for a period of 36 months following the closing date of the Offering.

The net proceeds from the Offering will be used for exploration and development of the Company’s Tuvatu Gold Project.

The Offering was made by way of prospectus supplement dated September 22, 2022 (the “Prospectus Supplement“) to the Company’s base shelf prospectus dated May 13, 2022. Distribution of the Units issued pursuant to the Offering was insufficient to meet the TSX-V’s requirements for the listing of the Warrants so the Company has accordingly not applied to list the Warrants on the TSX-V.

About Lion One Metals Limited

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

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

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

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the use of proceeds from the Offering, the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/138668

Tags #JuniorMining, #LIO, #LionOneMetals, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, #WalterBerukoff, maurice jackson, proven and probable

Base Metals Collective Mining Energy Junior Mining Precious Metals

Collective Mining Makes its Fourth Grassroots Discovery at its Guayabales Project by Drilling 102.2 Metres at 1.53 g/t Gold Equivalent at the Trap Target

Post author By admin
Post date September 27, 2022

Three widely spaced reconnaissance holes up to 600 metres apart were drilled to test the Trap target (“Trap”), a north-northwest trending structurally controlled corridor with evidence of overprinting porphyry veins and late-stage carbonate base metal (“CBM”) veins. All three holes intersected highly altered porphyry rocks with multiple sheeted and stockwork veinlets, with hole TRC-1 yielding the most robust results as follows:
Recent geological mapping and sampling has materially extended the strike length of the Trap target to 1.75 kilometres, and it remains open in both directions along strike for further expansion.

TORONTO, Sept. 27, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce diamond drill hole and rock chip assay results from reconnaissance work, which outlines a new discovery referred to as the Trap mineralized corridor (“Trap”). Trap is located approximately four kilometres to the north-northeast of the Company’s flagship Apollo discovery and is one of seven grassroots generated porphyry and porphyry-related targets at its flagship Guayabales project located in Caldas, Colombia. Apollo is a newly discovered high-grade copper-gold-silver porphyry-related breccia with previously announced intercepts including the discovery hole APC-2, which intersected 207.15 metres @ 2.68 g/t AuEq and APC-8, which intersected 265.75 metres @ 2.44 g/t gold equivalent (See press releases dated August 10th and September 13^th respectively). As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

“This new and early-stage discovery at the Trap target highlights the immensely prospective nature of our Guayabales project. With slightly more than one year of exploration under our belt, our young Company, which is anchored by a core team of talented individuals, has drilled four new grassroot discoveries. Our priority remains the drilling and expanding of our flagship Main Breccia discovery at the Apollo target, but our reconnaissance exploration teams continue to identify new zones and targets with different styles of mineralization located within a four-kilometre by four-kilometre area hosting a cluster of porphyry and porphyry-related style targets. I am impressed with the continued drilling success at the Guayabales project. Our robust rate in making new discoveries at the project is virtually unparalleled in the mining industry and is a strong testament to the mineral endowment of this emerging mining district,” commented Ari Sussman, Executive Chairman.

Details (See Table 1 and Figures 1 – 3)

The Company recently completed three scout diamond drill holes plus additional channel chip sampling and geological mapping at the Trap target, a newly discovered structural corridor with details as follows:

Geology mapping and rock sampling highlights a north-northwest trending structural corridor superimposed on earlier porphyry related mineralization event and all hosted within quartz diorite rocks. Rock sampling of sporadic outcrops along the 1.75-kilometre mineralized corridor yielded 32 samples grading over 1 g/t gold (range 1 g/t Au to 10.7 g/t Au) with silver values up to 687 g/t and copper values up to 3.7%.
Three scout drill holes were completed in the central (TRC-1) and southern portion (VICE-1 & 2) of the trap corridor and returned the following significant intercepts:

In each hole the mineralization relates to an early gold-copper (chalcopyrite) phase linked with potassic alteration which is overprinted by a younger precious-polymetallic vein system associated with intense sericite alteration resulting in a white bleaching of the rock fabric. Veinlet systems include sheeted and stockwork forms in multiple different orientations.

Trap remains open in all directions and further reconnaissance work continues along this zone. A follow up drill program will ensue once additional data is collected, and targets are further refined.
The Company continues to prioritize the Apollo discovery due to the significant results intercepted to date with diamond drilling including hole APC-2, which intersected 207.15 metres @ 2.68 g/t AuEq and hole APC-8, which intersected 265.75 metres @ 2.44 g/t gold equivalent as announced in press releases dated August 10^th, 2022, and September 13^threspectively). Assay results are anticipated in the near term for four additional holes from Apollo with the following encouraging visual intercepts for two of the holes that targeted and successfully intersected the Main Breccia discovery:

Table 1: Assays Results

HoleID	From (m)	To (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Cu %	AuEq (g/t) *
TRC-1	233.80	336.00	102.20	1.26	12	0.09	1.53
Incl	259.10	269.00	9.90	3.00	25	0.25	3.65
	294.50	303.70	9.20	1.82	31	0.07	2.27
VICE-1	212.60	227.30	14.70	1.14	26	0.01	1.44
Incl	213.20	214.80	1.60	2.33	47	0.01	2.87
	219.55	220.70	1.15	1.91	131	0.04	3.66
and	253.50	270.50	17.00	0.69	6	0.01	0.75
VICE-2	214.60	233.50	18.90	1.06	36	0.18	1.83
Incl	214.60	216.60	2.00	3.55	208	0.17	6.51

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95) + (Cu (%) x 1.96 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $20/oz and Au – US$1,400/oz and recovery rates of 95% for Au, Ag 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 Guayabales Project Highlighting the Trap and Apollo Targets (CNW Group/Collective Mining Ltd.)

Figure 2: Plan View of Trap Highlighting Reconnaissance Drill Holes and Rock Samples Over 1 g/t AuEq (CNW Group/Collective Mining Ltd.)

Figure 3: Images of Drill Core for Trap Outlining Late Stage Porphyry Related CBM Veins in A and C, and Porphyry Mineralization in B. (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program at both the Guayabales and San Antonio projects, a total of seven major targets have been defined at Guayabales as well as another three at San Antonio. The Company has made a total of five significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target, 207.15 metres at 2.68 g/t AuEq, 180.6 metres at 2.43 g/t AuEg and 87.8 metres at 2.49 g/t AuEg at the Apollo target and most recently, 102.2m @ 1.53 g/t AuEq at the Trap target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

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.

FORWARD-LOOKING STATEMENTS

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

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

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

SOURCE Collective Mining Ltd.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/27/c9165.html

Tags #AriSussman, #CNL, #CollectiveMining, #Guayabales, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, maurice jackson

Base Metals Energy Junior Mining Precious Metals

Bravo’s Re-assay Program Continues to Confirm High PGM + Au Grades at Luanga

Post author By admin
Post date September 27, 2022

Highlights include: 16m @ 9.4g/t PGM + Au, with 9m @ 14.5g/t PGM + Au (with 0.5g/t Rh)

And: 6m @ 7.6g/t PGM + Au, including 2m @ 20.5*g/t PGM + Au (with >1.0*g/t Rh)

VANCOUVER, BC, Sept. 27, 2022 /CNW/ – Bravo Mining Corp. (TSXV: BRVO), (“Bravo” or the “Company“) today announced that it has received results from the re-analysis of samples from an additional eight historic diamond drill holes (“DDH”) from its wholly owned Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga” or “Luanga PGM+Au+Ni“), located in the Carajás Mineral Province, state of Pará, Brazil.

“With re-assay results received from 36 historic drill holes to date, an emerging positive trend has been observed in respect of overall PGM+Au grades, with greater than 80% of re-assay intersections received to date returning better grades as compared to historic results of approximately 20 years ago.” said Luis Azevedo, Chairman and CEO of Bravo. “We will continue to assess this emerging grade trend as, if maintained in the remaining holes to be re-assayed, it could clearly have a positive impact on future mineral resource estimates.

Highlights

Assay results from the re-assaying of samples from historic drilling continue to correlate closely with the historic assay results, in both tenor and mineralized thicknesses, but with the grade of more than 80% of the re-assayed intercepts exceeding the historic intercepts over comparable thicknesses.
Highlights of Bravo’s most recent re-assay results are tabulated below, with details and comparisons attached:

HOLE-ID	From(m)	To(m)	Thickness (m)	Pd(g/t)	Pt(g/t)	Rh(g/t)	Au (g/t)	PGM + Au (g/t)	Ni % (Sulphide)	Type
PPT-LUAN-FD0035	3.0	19.0	16.0	5.78	2.79	0.35	0.47	9.39	NA	Ox
*Including*	6.0	15.0	9.0	8.94	4.28	0.47	0.79	14.48	NA	Ox
PPT-LUAN-FD0060	0.0	41.0	41.0	0.98	0.45	0.05	0.03	1.52	NA	Ox
*Including*	18.0	41.0	23.0	1.17	0.59	0.05	0.04	1.85	0.32	FR
PPT-LUAN-FD0065	21.0	27.0	6.0	0.95	6.16	0.46	0.01	7.57	NA	Ox/LS
*Including*	25.0	27.0	2.0	2.28	17.06	>1.00*	0.01	20.45	NA	Ox/LS
PPT-LUAN-FD0071	0.0	13.0	13.0	2.20	1.22	0.20	0.14	3.76	NA	Ox
*Including*	0.0	8.0	8.0	3.35	1.44	0.30	0.21	5.70	NA	Ox

Notes:	All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
	Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~80 to 95% of true thickness.
	Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphur. Recovery methods and results will differ based on the type of mineralization.
	NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
	* = Preliminary results; overlimit analyses pending.

77 drill holes have been completed, for a total of 13,051 metres (or 51% of Phase 1 Drilling Program). Currently, samples from 30 drill holes are at the laboratory pending results.
12,632 samples submitted for assay to date including 2,945 re-assay samples from historic drill core.
6 drill rigs operating onsite.

Luanga Re-Assay and Phase 1 Drilling Progress

A comparison of the historic intercepts with the Bravo re-assay results is tabulated below, with a plan showing their locations and drill sections provided for (PPT-LUAN-) FD0035, FD0053, and FD0071. Bravo’s re-assay results continue to closely correlate to the historic intercepts, in both thicknesses and grade. Importantly, the grade of the re-assayed intercepts exceeds that of the historic intercept over comparable thicknesses in over 80% of the intercepts re-assayed to date. This is most likely related to improved assay methods for PGMs versus those available over 20 years ago.

The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling progressing in various locations along the entire 7km strike length of the known Luanga mineralized envelope (as defined by historic drilling). To date, 77 drill holes have been completed, for a total of 13,051 metres of the planned 25,500 metre Phase 1 drill program.

Comparison of Re-Assayed Intercepts – Historic Intercept (SGS Laboratory) versus Bravo Intercept (ALS Laboratory)

HOLE-ID	From(m)	To(m)	Thickness (m)	HISTORIC SGSPGM + Au (g/t)	BRAVO ALSPGM + Au (g/t)	HISTORICNi % (Total)	BRAVO**Ni % (Sulphide)	TYPE
PPT-LUAN-FD0029	63.0	76.0	13.0	1.04	1.13	0.12	0.09	FR
And	91.0	120.0	29.0	0.62	0.78	0.05	0.04	FR
PPT-LUAN-FD0030	85.0	95.0	10.0	1.44	1.63	0.20	0.15	FR
PPT-LUAN-FD0035	3.0	19.0	16.0	9.32	9.39	0.14	NA	Ox
*Including*	6.0	15.0	9.0	14.18	14.48	0.19	NA	Ox
PPT-LUAN-FD0053	0.0	12.0	12.0	0.88	1.12	0.13	NA	Ox
And	16.0	25.0	9.0	1.65	1.93	0.05	NA	Ox
PPT-LUAN-FD0058	0.0	8.0	8.0	1.66	2.03	0.09	NA	Ox
PPT-LUAN-FD0060	0.0	41.0	41.0	1.41	1.52	0.22	NA	Ox
*Including*	18.0	41.0	23.0	1.66	1.85	0.26	0.32	FR
And	80.0	85.0	5.0	0.99	0.92	0.10	0.07	FR
PPT-LUAN-FD0065	21.0	27.0	6.0	7.74	7.57	0.03	NA	Ox/LS
*Including*	25.0	27.0	2.0	18.29	20.45*	0.04	NA	Ox/LS
And	109.0	120.0	11.0	0.85	0.85	0.09	0.09	FR
PPT-LUAN-FD0071	0.0	13.0	13.0	3.69	3.76	0.18	NA	Ox
*Including*	0.0	8.0	8.0	5.66	5.70	0.24	NA	Ox
And	101.0	113.0	12.0	0.64	0.75	0.03	0.02	FR/LS

Notes:	All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
	Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~80 to 95% of true thickness.
	Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphur. Recovery methods and results will differ based on the type of mineralization.
	NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
	* = Preliminary result, overlimit analyses pending.
	** = Note that Bravo’s nickel grades are for sulphide nickel, which is representative of potentially recoverable (by froth flotation treatment) nickel, and does not include non-recoverable silicate nickel, unlike historic total nickel assays.

Complete Table of New Re-assayed Intercepts

HOLE-ID	From(m)	To(m)	Thickness (m)	Pd(g/t)	Pt(g/t)	Rh(g/t)	Au (g/t)	PGM + Au (g/t)	Ni % (Sulphide)	TYPE
PPT-LUAN-FD0029	63.0	76.0	13.0	0.79	0.28	0.04	0.02	1.13	0.09	FR
And	91.0	120.0	29.0	0.48	0.27	0.01	0.01	0.78	0.04	FR
PPT-LUAN-FD0030	85.0	95.0	10.0	1.17	0.40	0.05	0.02	1.63	0.15	FR
PPT-LUAN-FD0035	3.0	19.0	16.0	5.78	2.79	0.35	0.47	9.39	NA	Ox
*Including*	6.0	15.0	9.0	8.94	4.28	0.47	0.79	14.48	NA	Ox
PPT-LUAN-FD0053	0.0	12.0	12.0	0.68	0.38	0.05	0.01	1.12	NA	Ox
And	16.0	25.0	9.0	1.31	0.55	0.07	0.01	1.93	NA	Ox
PPT-LUAN-FD0058	0.0	8.0	8.0	0.95	0.96	0.11	0.01	2.03	NA	Ox
PPT-LUAN-FD0060	0.0	41.0	41.0	0.98	0.45	0.05	0.03	1.52	NA	Ox
*Including*	18.0	41.0	23.0	1.17	0.59	0.05	0.04	1.85	0.32	FR
And	80.0	85.0	5.0	0.60	0.25	0.01	0.06	0.92	0.07	FR
PPT-LUAN-FD0065	21.0	27.0	6.0	0.95	6.16	0.46	0.01	7.57	NA	Ox/LS
*Including*	25.0	27.0	2.0	2.28	17.06	>1.00*	0.01	20.45*	NA	Ox/LS
And	109.0	120.0	11.0	0.41	0.33	0.07	0.04	0.85	0.09	FR
PPT-LUAN-FD0071	0.0	13.0	13.0	2.20	1.22	0.20	0.14	3.76	NA	Ox
*Including*	0.0	8.0	8.0	3.35	1.44	0.30	0.21	5.70	NA	Ox
And	101.0	113.0	12.0	0.17	0.50	0.08	001	0.75	0.02	FR/LS

Notes:	All ‘From’, ‘To’ depths, and ‘Thicknesses‘ are downhole.
	Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~80 to 95% of true thickness.
	Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphur. Recovery methods and results will differ based on the type of mineralization.
	NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
	* = Preliminary result; overlimit analyses pending.

www.bravomining.com (CNW Group/Bravo Mining Corp.)

Location of Historic Drill Hole Results Discussed in this Report (CNW Group/Bravo Mining Corp.)

Section 1 – Showing PPT-LUAN-FD0035 (CNW Group/Bravo Mining Corp.)

Section 2 – Showing PPT-LUAN-FD0053 (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

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

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

Technical Disclosure

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

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “confident”, “highly encouraged”, “confirm”, “correlate”, “success”, “high-grade”, “estimated”, “potentially”, “emerging positive trend” and other similar words, phrases or statements that certain events or conditions “could”, “should”, or “will” occur. In particular, this news release contains forward-looking information pertaining to the Company’s ongoing re-assay and drill programs and the results thereof; the potential for a continued increase in grades relative to historic assays and the possible impact on future mineral resource estimates the potential for the definition of new styles of mineralization and extensions to depth and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; final drill and assay results will be in line with management’s expectations; that re-assayed may continue to outperform historic grades; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-ID	Company	East (m)	North (m)	RL (m)	Datum	Depth (m)	Azimuth	Dip

PPT-LUAN-FD0029	Vale SA	656751.12	9339445.98	264.83	SIRGAS2000 UTM22S	120.80	360.00	-60.00
PPT-LUAN-FD0030	Vale SA	656752.05	9339732.06	286.13	SIRGAS2000 UTM22S	120.15	360.00	-60.00
PPT-LUAN-FD0035	Vale SA	657150.83	9339760.87	278.36	SIRGAS2000 UTM22S	121.35	360.00	-60.00
PPT-LUAN-FD0053	Vale SA	659337.63	9341372.84	251.75	SIRGAS2000 UTM22S	221.65	330.00	-60.00
PPT-LUAN-FD0058	Vale SA	659444.35	9343173.81	269.07	SIRGAS2000 UTM22S	156.10	90.00	-60.00
PPT-LUAN-FD0060	Vale SA	659992.74	9342371.79	288.78	SIRGAS2000 UTM22S	181.25	90.00	-55.00
PPT-LUAN-FD0065	Vale SA	659497.72	9342974.99	275.80	SIRGAS2000 UTM22S	269.75	90.00	-60.00

Schedule 2: Assay Methodologies and QAQC

Samples followed chain of custody between collection, processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core was delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who inserted certified reference materials, blanks and duplicates into the sampling sequence. Drill core was quarter cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the respective ALS or SGS global websites (ALS, SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

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

Bravo ALS
Preparation	Method	Method	Method	Method

For All Elements	Pt, Pd, Au	Rh	Ni-Sulphide	Trace Elements
PREP-31B	PGM-ICP27	Rh-MS25	Ni-ICP05	ME-ICP61

Historic Drill Assaying SGS Geosol
Preparation	Method	Method	Method	Method

For All Elements	Pt, Pd, Au	Rh	TOTAL Ni	Trace Elements
Crushed to <200# mesh	FA30A	FA30B	ICP-117	ICP-117

Section 3 – Showing PPT-LUAN-FD0071 (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/27/c4384.html

Tags #InvestingInCopper, #InvestingInPlatinum, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, Bravo Mining, BRVO, Luis Avevedo

Base Metals Energy Junior Mining MillRock Resources Precious Metals

Millrock Confirms Third Mineralization Layer Beneath the Core Eureka Zone By Assaying Historical Core Samples From the Nikolai (Ni-Cu-Co-PGE) Project, Alaska

Post author By admin
Post date September 27, 2022

Figure 1

View looking east along the Eureka Zone within a large mafic-ultramafic magmatic complex. Note: Outline of the Ultramafic complex and Eureka zone are approximate.

Figure 2

Cross section view of Eureka Zone looking west, showing trace of holes FL-003 and FL-006 drilled by INCO in 1997.

VANCOUVER, British Columbia, Sept. 26, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO) (“Millrock”) is pleased to report additional assay results from the sampling of historical core from the Eureka Zone at its 100% owned Nikolai Project, which hosts nickel (Ni) – copper (Cu) – cobalt (Co) – platinum group elements (PGE) prospects.

The Nikolai Project is located within Alaska’s Delta Mining District, approximately 130 kilometers by road south of Delta Junction and approximately 280 kilometers southeast of Fairbanks. The Eureka zone consists of disseminated Ni-Cu-Co-PGE mineralization initially discovered by a subsidiary of INCO, and further expanded by Pure Nickel Inc., as reported in their press releases ranging between 2007-2014 (see Figure 1).

The new assay results confirm the existence of low-grade Ni-Cu-Co-PGE mineralization immediately below and adjacent to the Core Eureka Zone (“CEZ”). The new zone is named the Lower Eureka Zone (“LEZ”). Along with the Upper Eureka Zone (“UEZ”), hole FL-003, drilled by INCO in 1997, intersected 346 meters of nickel mineralization, representing an approximate true width of 275 meters (Figure 2).

Millrock President and CEO Gregory Beischer commented: “From historical drilling, it is clear that a large volume of mineralized rock is present in the Eureka Zone. We believe the demand for nickel, cobalt, and other Critical and Strategic Metals will be exceptionally strong in the coming decades, making low-grade mineralization such as at Eureka of interest.”

Figure 1. View looking east along the Eureka Zone within a large mafic-ultramafic magmatic complex. Note: Outline of the Ultramafic complex and Eureka zone are approximate.
https://www.globenewswire.com/NewsRoom/AttachmentNg/5acad3e2-2e55-4a93-b702-d81009a2ae43

Figure 2. Cross section view of Eureka Zone looking west, showing trace of holes FL-003 and FL-006 drilled by INCO in 1997.
https://www.globenewswire.com/NewsRoom/AttachmentNg/3fd1b98e-77c8-481c-bd68-484ec28815d0

About Eureka Zone:
Based on historical drill hole results, Millrock identified a probable zone of mineralization measuring approximately 1,200 meters by 400 meters by 300 meters that contains low but potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Upon further review of the historical drill hole results, it was noted that only incomplete, non-continuous sampling was done in rocks intersected below the CEZ in hole FL-003. Drill core from this hole is preserved at the Geologic Materials Center in Anchorage, Alaska. Millrock collected and assayed samples from hole FL-003 in the suspected LEZ.

Highlights of the core sampling program include:

FL-003: 100 samples were assayed between hole depths of 273.4 meters and 412.1 meters
FL-003: mineralized interval of 135.6 meters grading 0.20% Ni, 0.05% Cu, 0.016% Co, 0.062 ppm Pd, 0.026 ppm Pt, and 0.014 ppm Au (including eight historical intervals).

Based on the newly received assays and historical assays from INCO holes FL-003 and FL-006, Millrock now interprets there to be three distinct domains (UEZ, CEZ, and LEZ) within the Eureka Zone, with an estimated true thickness at the drilled location of 275 meters (Figure 2).

These three domains consist of strongly serpentinized rocks:

1: Upper Eureka Zone (UEZ) – sulfur-poor peridotite, with disseminated sulfides.

Drillhole	To (m)	From (m)	Interval (m)	Ni (%)	Cu (%)	Co (%)	Pd (ppm)	Pt (ppm)	Au (ppm)	NiEq%	CuEq%
FL-003	60.2	173.7	113.5	0.20	0.05	0.014	0.101	0.046	0.007	0.32	0.65
FL-006	185.0	298.1	113.1	0.21	0.06	0.018	0.093	0.046	0.006	0.35	0.70

2: Core Eureka Zone (CEZ) – sulfur-rich peridotite and norite with disseminated sulfides.

Drillhole	To (m)	From (m)	Interval (m)	Ni (%)	Cu (%)	Co (%)	Pd (ppm)	Pt (ppm)	Au (ppm)	NiEq%	CuEq%
FL-003	173.7	271.9	98.2	0.22	0.12	0.019	0.141	0.064	0.018	0.42	0.85
FL-006	298.1	382.8	84.7	0.26	0.13	0.020	0.143	0.069	0.025	0.47	0.94

3: Lower Eureka Zone (LEZ) – sulfur-poor melanorite, with disseminated sulfides.

Drillhole	To (m)	From (m)	Interval (m)	Ni (%)	Cu (%)	Co (%)	Pd (ppm)	Pt (ppm)	Au (ppm)	NiEq%	CuEq%
FL-003	271.9	407.5	135.6	0.20	0.05	0.016	0.062	0.027	0.014	0.32	0.64
FL-006	Hole was ended prior to the LEZ

Note: NiEq% and CuEq% in this press release are calculated using the following metal prices:
Nickel = $7.00/lb., Copper = $3.50/lb., Cobalt = $25.00/lb., Palladium = $1800/oz., Platinum = $900/oz. and Gold = $1600/oz.

In order to determine the deportment of nickel, copper, cobalt, and the precious metals, Millrock has submitted samples for laboratory analysis to identify which minerals are host to the valuable metals. From this information, an idea of metal recoverability can be gleaned. This will be very important information to have for a project of this type and scale.

Quality Control – Quality Assurance
Millrock adheres to stringent Quality Assurance – Quality Control (“QA/QC”) standards. Core samples are kept in a secure location at all times. In this case, the samples were assayed at the Bureau Veritas laboratory in Vancouver, Canada. Preparation and analysis methods are described in further detail here. The sample preparation method code being utilized for the current sampling program was PRP70-250. Analysis methods used include MA370 – 4-acid digestion ICP-ES Finish and FA330 – Fire assay fusion Au, Pt, Pd by ICP-ES. For every 10 core samples, a blank, duplicate, or standard sample (Certified Reference Materials) of known copper, nickel, platinum, palladium, and gold concentration was analyzed. The Qualified Person is of the opinion that the results reported in this press release are reliable.

Historical assay results for core samples originally obtained by INCO in 1997 were used, in part, for the composite grade calculation for the LEZ in hole FL-003. Millrock has not independently verified the results. However, the drilling work completed in 1997 was done under the direct supervision of Gregory Beischer in his prior role as Exploration Manager for INCO. Mr. Beischer is the Qualified Person responsible for the contents of this disclosure. The historical samples were assayed at Chemex Lab, Inc. Appropriate quality control measures were in place.

Qualified Person
The technical information within this document has been reviewed and approved by Gregory A. Beischer, President, CEO, and a director of Millrock. Mr. Beischer is a Qualified Person as defined in NI 43-101.

About Millrock Resources Inc.
Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, is a significant shareholder of junior explorer ArcWest Exploration Inc. and owns a large shareholding in Resolution Minerals Limited and Felix Gold. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet and, Altius as well as junior explorers Resolution, Riverside, PolarX, Felix Gold, and Tocvan.

ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Melanee Henderson, Investor Relations
Toll-Free: 877-217-8978 | Local: 604-638-3164
Twitter | Facebook | LinkedIn

Some statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of the ongoing metal deportment study, and the completion of planned expenditures, the ability to complete exploration programs on schedule and the success of exploration programs.

“NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.”

Tags #GregoryBeischer, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #MilesFranklin, #MillrockResources, #MRO, #PreciousMetals, #ProvenAndProbable, maurice jackson

Energy Junior Mining Precious Metals

Are We Seeing Capitulation?

Post author By admin
Post date September 26, 2022

Bob Moriarty
Archives
Sep 26, 2022

Regular readers are well aware of how much respect I have for the Daily Sentiment Indicator from Jake Bernstein. It is simply the most valuable tool I have come across in investing. We are at an interesting point where a number of commodities and indexes are showing extremes of emotion normally found only at tops or bottoms. This time may be different but only time will tell.

For anyone who has been awake lately the stock/bond/currency crash many have foreseen is in action right now. There is this simple issue of there being far more debt in the world than can be paid so at some point we need to settle the books. Either the borrowers pay the debt or the lenders. And obviously now it is the lenders. It is probably the worst liquidity event in history.

This is the start of the biggest financial change in five hundred years as the debt based Western financial system collapses and like a dying scorpion stings everything in range as a result. Russia and China are working with the 65% of the rest of the world who do not support either the actions of Nato and the US in Ukraine or sanctions against Russia.

There will be a new financial system. As of now Russia is still saying it will be a basket of currencies but if they have any sense, they will shave off a lot of wasted effort and just go straight to a gold and silver based currency.

The conflict in Ukraine literally is a battle between good and evil with the WEF/NATO/the EU and US on one side and the rest of the world on the other. The EU and NATO are literally committing suicide. That will be as obvious as a pimple on the tip of your nose soon this fall as Europe finds itself in a state of revolution against the massive stupidity of the EU leaders.

In the midst of an energy crisis Belgium voluntarily shut down one of their remaining nuclear power plants on Friday at a time where 64% of Belgians believe they cannot afford to pay their energy bills. That’s not Putin, that’s just basic fucking stupidity. Is it no longer just a requirement for world leaders to be sociopaths but also they must be mental midgets? With perhaps the sole exception of Oban, the rest of the flock are brain dead idiots who couldn’t lead their way out of a wet paper bag.

The dollar index has been flying lately. Readers should understand the dollar index does not have anything to do with measuring the value of the dollar except in terms of other currencies, mainly the Yen, the Euro and the British Pound. On Friday the DSI for the dollar index stood a value of 97. In the 33 years the index has been tracked by the DSI it has hit 98 only once and 97 only three times. In rational times the dollar index would be topping.

As of Friday the DSI for the British Pound was 5 along with the Canadian Dollar and the Australian Dollar. The S&P stood at 5 with the Nasdaq. I suspect the rocket higher in the DXY had more to do with the stupidity of the UK Prime Minister doing her best to destroy the value of the Pound in her rush to the bottom among currencies. There is an excellent chance we will see the continuation of the stock market crash this week, at least through Tuesday.

With the penny juniors in the mining area falling off a cliff on Friday with massive drops across the board, we are starting to see capitulation. While it is painful to watch your investments dropping by double digits daily, this is where wise investors make their fortunes. The market will rocket higher just as soon as those silly investors who used margin finish selling off the last of their investments just to meet a margin call.

These sorts of opportunities only come once in a lifetime. Prepare yourself to rake up the falling fruit. This is a quote from Basic Investing in Resource Stocks.

“Weak hands buy at tops and sell at bottoms. Strong hands buy at bottoms and sell at tops. It’s vital that investors remember that at every top there are 50 reasons to buy, and at every bottom there are 50 reasons to sell. That’s what makes them tops and bottoms.”

The DXY, S&P and Nasdaq are nearing a massive turn soon. Gold and silver will resume their climb and when the capitulation in resource stocks end, they will rocket higher.

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Tags #321Gold, #BobMoriarty, #JuniorMining, #MauriceJackson, #MilesFranklin, #PreciousMetals, #ProvenAndProbable

Energy Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Discovery of Palladium and Gold

Post author By admin
Post date September 26, 2022

Burlington, Ontario–(Newsfile Corp. – September 26, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) has assayed, among other elements, significant quantities of palladium and gold in the mineralized material from its Buckeye Silver Mine in Arizona. These surprise discoveries are not factored into any of the Company’s internal financial projections. This mineralized material was taken from a newly exposed section at the Buckeye.

Palladium is currently trading at roughly USD$2,100 per ounce and gold is currently trading at roughly USD$1,650 per ounce. For reference below, SBMI notes that one ppm (part per million) is equivalent to one gram per tonne. There are 28.35 grams in one ounce.

How The Gold and Palladium Were Found

The gold and palladium were discovered after SBMI initially processed roughly 60 tons of Buckeye Mine material at its 100%-owned mill, and then encountered challenges in pouring proper silver dore bars to satisfy the outstanding sample run order. An example of such challenges is in the picture below.

Recent dore bar from material bulk sampled at the Buckeye

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/138387_7e8588f9648ecb33_001full.jpg

First Batch Sample From a 60 ton Bulk Sample

To help identify the possible source of this, SBMI sent a sample (the “First Batch”) on September 7, 2022, from its concentrates of the 60 ton bulk sample to Lone Pine Analytical, a third-party lab, for further analysis. That analysis completed on September 11, 2022 revealed, from this sample, being an average of 2 collected concentrate samples, elevated levels of palladium and gold, as per the chart below:

Element	Unit	Concentration	Report
		(Duplicates)	Limits
Au	ppm	(1) 50.8	0.05
		(2) 38.1
Pd	ppm	(1) 83.8	0.05
		(2) 80.0
Pt	ppm	(1) .0457	0.05
		(2) .667
Rh	ppm	(1) .150	0.05
		(2) .255
Ir	ppm	(1) 0.172	0.05
		(2) .308
Os	ppm	(1) .572	0.05
		(2) .382
Ru	ppm	(1) ND	0.05
		(2) ND

In response to these unusual values, SBMI will be undertaking referee sampling with another independent third-party ISO accredited lab.

“Those are astonishing results for the gold and palladium,” said A. John Carter, SBMI’s CEO. “To the best of our knowledge the only significant producer of palladium in the United States of America is Sibanye-Stillwater in Montana, so this is a possible game-changer, not just for SBMI but for platinim group metal exploration in Arizona. We have heard anecdotal evidence of Pt-Pd production as a by-product of porphyry mining in the Globe area and have seen data from a local prospective Pt-Pd property, but we are still investigating what our results mean. At this time the Company is actively investigating the source and recovery of the anomalous palladium and gold values and are currently engaging additional technical support in this pursuit.”

The Company believes the results above are representative of the 60 tons of the material extracted from the Buckeye Mine.

Second Batch Samples From a 140 ton Bulk Sample

SBMI then took, from another larger bulk sample, a sample batch (the “Second Batch”) of a further seven samples from various locations in the mill. This bulk sample represents roughly 140 tons of material from the Buckeye Mine. SBMI’s assay team had initially assayed those samples for silver only. Subsequently, each of the following samples from this 140 ton bulk sample were labelled with unique identifiers as shown below:

Head Feed 700 oz/Ton Ag
100 gm 2503oz/Ton Ag Conc
#1 Table Cons. Original
#1 Table Cons from Mill
#2 Table Cons from Mill
Tails
Dorie Bead

Those labels were provided by SBMI’s assay team to Lone Pine Analytics by the leader of SBMI’s assay team, Mr. Robert Budd, who also collected and assayed those samples for silver. SBMI has on prior occasions and on its website made disclosure of Mr. Budd’s credentials and QAQC processes, and will include these matters below in the QA/QC for SBMI.

Second Batch Samples to Lone Pine Analytics

After being assayed for silver only by SBMI, the Second Batch was then sent to Lone Pine Analytical for further analysis of additional elements. The average values for Au and Pd of the 7 samples returned from Long Pine Analytics for the gold and the palladium were as follows:

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/138387_capture.jpg

The Company believes these results are representative of the 140 ton bulk sample. The complete assay certificates with a photo of each sample will be posted to the Company’s website.

In response to these unusual values, SBMI will be undertaking referee sampling with another independent third party ISO accredited lab.

All of the roughly 200 tons of material (combined from the 2 bulk samples) were taken directly from the vein accessed at the lower drift. All 200 tons were taken and processed in the normal course, with no selective sampling.

“We made a decision early on to build our own mill in Arizona to high standards, and as a result we have been able to immediately recognize there were significant amounts of elements other than silver in this new material” continued Mr. Carter. “Standard exploration techniques may not have found the gold or palladium without the expenditure of millions of exploration dollars. We are there now, more quickly for much less money.”

SBMI has found a potential buyer for the concentrates who is likely able to process the palladium in addition to the gold and silver, but before making final decisions SBMI is waiting on further assay data and input from metallurgists, engineers and others.

QAQC For SBMI

All the samples above were collected by Mr. Robert Budd, a Metallurgical Process Engineer who began his career in metallurgical engineering in 1972. He has held various positions with various employers including Senior Engineer, Superintendent, Engineer, Technical Assistant, Technician, and Lab Assistant. Most recently, prior to joining SBMI he was involved in designing and creating an internal assay facility in Arizona for Freeport McMorran Inc. He has also been the the Principal Process Specialist for Fluor Canada out of Vancouver, the Senior Metallurgical Engineer for Doe Run Lead, the Project Engineer for the commissioning of a copper concentrator start-up at Oz Minerals’ Prominent Hill Mine in South Australia, Senior Metallurgical Engineer for Cyprus Miami/Phelps Dodge Miami in Arizona, Metallurgical Engineer and Metallurgical Lab Supervisor for Newmont Gold in Nevada, and Chief Metallurgist for Inspiration/Cyprus Miami in Arizona among other positions.

The samples analyzed by SBMI at its facility near Globe, Arizona were processed by Mr. Budd through the Lab Jaw Crusher, Lab Hammer Mill and Splitter Box into an aliquot. Most of the pulverized aliquot was mixed with a flux and flour combination and melted in a crucible at 1,850 degree Fahrenheit, with the remainder being logged and archived. Upon cooling, the poured melt was in the form of a metal button and slag, following which a bone ash cupel was utilized to eliminate the lead in the button to form a bead. The bead was then weighed, following which a solution of 6 to 1 distilled water to nitric acid was utilized to dissolve the silver in the bead at approximately 175 degrees Fahrenheit. A much more detailed description of the process and a picture of the assay lab can be found at https://www.silverbulletmines.com/qaqcassaylab.

QAQC For Lone Pine Analytics

For each batch, Lone Pine Analytical of Phoenix, Arizona sampled two distinct samples (approx 200mg), digested, filtered, diluted and analyzed. For the digestion, the lab used [1mL HF: 4.5mL Nitric Acid: 4.5mL HCI]. The samples were digested in a microwave in sealed PTFE tubes where the temperature reached 200C with a total cycle time of 40 minutes. Bismuth (Bi) was used the internal standard. A three-point calibration, plotted through zero was used with excellent linear correlation for each element. Thus, the lab used an internal and external standards (instrument calibration). Chain of custody protocols were strictly observed. Lone Pine Analytical, as of September 11, 2023, is in the process of renewing its ISO /IEC-17025 lab accreditation with a scope for metals in soils and rocks

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

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 viruses 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/138387

Tags #BuckeyeMine, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #SBMI, #SBMI #SilverBulletMines #JohnCarter, #WashingtonMine, John Carter, Silver

Collective Mining Energy Junior Mining Precious Metals

Collective Mining Discovers Outcrop at Surface of Apollo Target & Extends Strike Length

Post author By admin
Post date September 22, 2022

Figure 1

Plan View of the Guayabales Project Highlighting the Apollo Target

Figure 2

Plan View of the Main Breccia Discovery at the Apollo Target, Highlighting in Green the Newly Discovered Areas Where the Main Breccia Outcrops at Surface and Assay Results from Drill Holes Announced to Date

Figure 3

Photos of Various Surface Exposures of Angular Breccia Discovered to the North and East of Drill Pad 3

Recent geological mapping of rocks exposed by pad 3 drill access tracks have confirmed that the Main Breccia discovery at the Apollo Target daylights at surface north and east of the drill pad.
Recently completed drill hole, APC-14, which was drilled due north from pad 3, intersected the Main Breccia approximately 50 metres below the newly discovered northern outcrop. The hole cut more than 240 metres in total of favorable mineralization within the Main Breccia. Assay results for drill holes APC-11 through APC-14 are anticipated in the near term.
Visual observation of the shallow portion of drill hole APC-14, indicates a marked increase in chalcopyrite leading to the possibility that copper grades will be higher than seen elsewhere in the Main Breccia discovery. Additionally, the Company’s conviction that the porphyry source for the Main Breccia discovery lies due south has now been increased. As a result, exploratory drill holes are currently being finalized to test the southern porphyry target.
The discovery of the northern outcrop of the Main Breccia coupled with visual observations in drill hole APC-14 has extended the strike length of the system to the southwest by 35 metres. As a result, the Main Breccia discovery now measures 385 metres in strike by 100 metres across by 500 metres vertical and remains open in most directions for further expansion. With respect to the eastern outcrop, exploration drilling is required to determine its geometry and how it might connect with the Main Breccia as presently it lies outside of the current working model.

https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Borehole%253BMetre%253BApollo%253BBreccia%253BDiscovery%252B%253BOutcrop%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25226f337e25-f321-354c-bf7c-bb3d28d3996e%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

TORONTO, Sept. 22, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that visual observations from outcrop mapping and shallow diamond drill hole APC-14, confirm that the Main Breccia discovery at the Apollo target (“Apollo”) daylights at surface over significant areas located to the north and east of drill pad 3 in the southern part of the discovery. Apollo is one of eight grassroot generated porphyry related targets at the Guayabales project, located in Caldas, Colombia. The Main Breccia discovery at Apollo is a high-grade, bulk tonnage copper-gold-silver porphyry-related breccia target with previously announced intercepts including hole APC-2, which intersected 207.15 metres @ 2.68 g/t AuEq and APC-8, which intersected 265.75 metres @ 2.44 g/t gold equivalent (See press releases dated August 10th and September 13^th respectively). As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target.

“Confirmation that the Main Breccia discovery at Apollo extends to surface enhances future possibilities for the project. Additionally, the fact that we see a noticeable increase in chalcopyrite near surface in the southern part of the Main Breccia discovery has our team excited that the porphyry source is nearby and is likely located beneath the robust, yet untested high-grade copper-in-soil anomaly located due south of drill pad 3. As a result, our team is busy planning exploration drill holes to test for the porphyry source with additional details to be provided shortly,” commented Ari Sussman, Executive Chairman.

Details (See Figures 1 to 3)

The Company recently completed geological mapping of new outcrop exposure created by tracks designed to service the drill rig at Pad 3 at Apollo. This work has confirmed exposure of mineralized angular breccia at surface as part of the Main Breccia discovery first announced by the Company on June 22, 2022. Logging visuals from recently completed diamond hole APC-14, which was drilled beneath a portion of the northern outcrop area, intersected mineralized angular breccia commencing at 50 metres vertically below surface. The following observations are highlighted:

During the last two weeks the surface exploration team has identified various outcrops with mineralized angular breccia locating north of Pad 3. Geological observations in all outcrop areas highlight mineralized angular breccia with iron oxides and sulfides within the matrix between the clasts with a partial overprint of sericite alteration. Two historical samples taken from a very limited exposure of breccia outcrop within this area returned 0.6 g/t gold,18 g/t silver and 0.1% copper and 4.1 g/t gold and 29.3 g/t silver respectively. The recently excavated surface exposures have been systematically sampled and assay results are pending.
Visual observations from a recently completed diamond hole, APC-14, drilled to the north from Pad 3 and directly underneath a portion of the northern outcrop area, highlighted the presence of angular breccia hosting pyrite and significant chalcopyrite mineralization in disseminations and as replacement within the breccia matrix. This hole intercepted mineralized breccia from approximately 84 metres downhole (50 metres vertical) down to 132 metres with a second zone commencing at 197 metres and finishing at approximately 391 metres downhole. Assay results for this and other holes are expected in the near term.
The Apollo target area, as defined to date by limited surface outcrops, rock sampling of CBM veins and available breccia exposures plus copper and molybdenum soil geochemistry, covers an 800-meter X 700-meter area. This Apollo target area hosts the Company’s new grassroots Main Breccia discovery which, based on recent drill results, measures up to 385 metres in strike length by 100 metres in width and 500 metres vertical. The Main Breccia discovery remains open in most directions and drill holes will continue to confirm and expand the discovery. Within the broader target there are additional, yet untested breccia, porphyry and vein targets which could facilitate further expansion at Apollo.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9d2b3619-a363-4b63-a4d3-7b091533f234

Figure 2: Plan View of the Main Breccia Discovery at the Apollo Target, Highlighting in Green the Newly Discovered Areas Where the Main Breccia Outcrops at Surface and Assay Results from Drill Holes Announced to Date is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/41d44be4-0e1f-41f0-8587-84461c4e917a

Figure 3: Photos of Various Surface Exposures of Angular Breccia Discovered to the North and East of Drill Pad 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8b220267-7bd9-4d39-8f0d-8e6a08d62a6b

About Collective Mining Ltd.

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

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. The Company has made significant grassroots discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and recently, at the Apollo target, 207.15 metres at 2.68 g/t AuEq, 180.6 metres at 2.43 g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

Qualified Person (QP) and NI43-101 Disclosure

Technical Information

Contact Information

Collective Mining Ltd.
Steven Gold, Vice President, Corporate Development and Investor Relations
Tel. (416) 648-4065

FORWARD-LOOKING STATEMENTS

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.

Tags #AriSussman, #CNL, #CollectiveMining, #Guayabales, #InvestingInBatteryMetals, #InvestingInCopper, #JuniorMining, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, maurice jackson

Junior Mining Lion One Metals Precious Metals

Lion One Announces C$12.5 Million ‘Bought Deal’ Public Offering Units

Post author By admin
Post date September 20, 2022

NORTH VANCOUVER, British Columbia, Sept. 20, 2022 (GLOBE NEWSWIRE) —

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company“) is pleased to announce that it has entered into an agreement with Eight Capital and Canaccord Genuity Corp., as co-lead underwriters and joint bookrunners (the “Underwriters“), pursuant to which the Underwriters have agreed to purchase, on a “bought deal” basis,16,240,000 units of the Company (the “Units“) at a price of C$0.77 per Unit (the “Issue Price”), for total gross proceeds of C$12,504,800 (the “Offering“).

Each Unit will consist of one common share (a “Common Share”) in the capital of the Company and one-half (1/2) of one common share purchase warrant (each whole common share purchase warrant, a “Warrant”) of the Company. Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price per Warrant Share of C$1.05 for a period of 36 months from the closing date of the Offering.

If, following the closing of the Offering, the volume weighted average trading price of the Common Shares on the principal exchange on which the Shares are listed for any 20 consecutive trading days equals or exceeds C$1.75, the Company may, upon providing written notice to the holders of Warrants, accelerate the expiry date of the Warrants to the date that is 30 days following the date of such written notice

In addition, the Company has agreed to grant the Underwriters an option (the “Over-Allotment Option”), exercisable in whole or in part, for a period of 30 days after the closing of the Offering, to purchase up to an additional 15% of the number of Units sold pursuant to the Offering, on the same terms as the Offering, to cover over-allotments and for market stabilization purposes.https://embed.fireplace.yahoo.com/embed

The net proceeds from the sale of the Units will be used for exploration and development of the Company’s Tuvatu Gold Project, as well as working capital and general corporate purposes.

The Units will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s base shelf prospectus dated May 13, 2022. The Prospectus Supplement will be filed in Alberta, British Columbia and Ontario and, together with the related base shelf prospectus, will be available on SEDAR at www.sedar.com.

Closing of the Offering is expected to take place on or about September 28, 2022 and is subject to certain conditions including, but not limited to the receipt of all applicable regulatory approvals including approval of the TSX Venture Exchange.

The securities offered in the Offering have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Lion One Metals Limited

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

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

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

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

Tags #JuniorMining, #LIO, #MauriceJackson, #PreciousMetals, #ProvenAndProbable, #WalterBerukoff, LIO, Quinton Hennigh

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