IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.
SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions
TORONTO, Nov. 14, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that the Mayor’s office of Marmato has formally acknowledged Collective Mining’s social activities and efforts within the municipality. Known as “Resolution 520, 2022”, the municipality expresses its gratitude for the contributions to the development of social, economic and governance matters since the Company’s arrival in 2020.
(CNW Group/Collective Mining Ltd.)
The township of Marmato, which is located in the department of Caldas, is one of the most historic and significant gold and silver mining regions in the western hemisphere of the world with continuous production beginning more than 500 years ago. Collective Mining’s Guayabales project is located in the heart of this long-established mining camp which has 10 fully permitted and operating mines located within a three kilometres radius of the project.
Since Collective Mining’s arrival to Marmato in 2020, the Company has focused on aligning itself with the municipality’s “Development Plan” by cooperating with initiatives that are relevant for the community and region. These efforts have included the improvement of rural roads, providing technical proficiency to Marmato’s coffee growers, protecting local water sources, monitoring and improvement of the aqueducts in the municipality and establishing beekeeping projects.
“Collective is a company that listens to the communities and embraces the needs of our municipality. From day one, they have supported us in our Development Plan. We wish to highlight that the Company always brings with it great respect for our communities. That is why, today, we can ratify this formal recognition proving it is possible to work hand in hand with a private company,” said Yesid Castro, Mayor of Marmato.
“Since our arrival to the region, our goal was to add value to local communities while advancing our efforts in making the next major discovery in Colombia. Since inception, our Company has been committed to a “Collective” approach to the development of projects, working alongside local government and communities to help develop our ESG initiatives. This recognition, coupled with our multiple geological discoveries are evidence that we are on the right track. We wish to express our gratitude to the local communities and to the Mayor and his team for allowing us to bring value and work alongside the citizens of Marmato,” commented Omar Ossma, President and CEO of Collective Mining.
About Collective Mining Ltd.
To see our latest corporate presentation and related information, please visit www.collectivemining.com.
Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.
The Company’s flagship project, Guayabales, is anchored by the discovery of the “Main Breccia” at the Apollo target in June 2022, which is a large bulk-tonnage, and high-grade copper, silver and gold porphyry-related hydrothermal breccia system. The Company’s near-term objective is to continue expanding the size of the Main Breccia discovery through step-out drilling while simultaneously increasing confidence in the highest-grade portions of the system.
Management and insiders own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Burlington, Ontario–(Newsfile Corp. – November 10, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces the Ontario Securities Commission revoked its failure to file cease trade order (“FFCTO”) against SBMI on Thursday, November 10, 2022.
The FFCTO was imposed on Tuesday, November 8, 2022, as a result of the Company not filing its audited financial statements and MDA as at June 30, 2022 on schedule. As previously disclosed, during the audit process there were no items of disagreement as between the Company and its auditors; rather, the delay in filing the audited financial statements and MDA was procedural, linked to the Arizona team’s lack of familiarity with the audit requirements for a reporting issuer. These procedural issues are being remedied going forward.
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.
VANCOUVER, BC / ACCESSWIRE / November 10, 2022 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce that it has acquired a 100% interest in six (6) patented mineral claims (78.2 acres), known as the Morning Star property, within the La Plata mining district of southwestern Colorado. The claims are surrounded by, and contiguous with, unpatented mining claims held by the Company within the greater La Plata property claim outline, which now totals over 33 square kilometers (km2) in size. The Morning Star claims have the potential to host porphyry-style Cu-Ag-Au mineralization as both an extension of the nearby Allard resource or as a new porphyry center. In addition, the claims host potential for high-grade Au-Ag-Te epithermal mineralization.
Morning Star Property Highlights
The 78.2-acre Morning Star property consists of six (6) federally patented mining claims that include both fee simple surface ownership and sub-surface mineral rights. The claims straddle the Montezuma and La Plata County boundary and have the potential to host both porphyry Cu-Ag-Au mineralization, as well as epithermal style deposits of high-grade gold, silver, and tellurium, a critical metal on the United States Geological Survey’s list of 50 mineral commodities critical to the U.S. economy and national security2. While highly prospective, the acquired property has not seen modern exploration work in recent decades but was patented in the early 1900s, based on the discovery of significant surface mineralization.
Metallic Minerals Corp., Wednesday, November 9, 2022, Press release picture
Transaction Details
Subject to final TSX approval, Metallic Minerals will acquire a 100% interest in the Morning Star property for a one-time cash payment totaling US$35,000 and the issuance of an aggregate of 275,000 common shares of Metallic Minerals following regulatory approval.
Scott Petsel, Metallic Minerals President stated, “We are pleased to be able to acquire these additional claims in the highly prospective La Plata mining district, where we recently announced an inferred resource of 985 million pounds of copper equivalent at the Allard Deposit1, which represents just one of several significant porphyry target areas on the property. This acquisition comes on the heels of the recently completed 2022 field program, which focused on resource expansion drilling at the Allard Deposit and included property-wide ground-based induced polarization and resistivity geophysical surveys. Along with the results from the 2022 La Plata drill program and field work, which are expected to come in over the next couple of months, these newly acquired claims will be incorporated into the development of our 2023 exploration season plans and targeting.”
“Assay results from the Keno Silver Project on over 3,200 meters of drilling focused on resource definition at several resource ready targets are expected in the coming weeks.”
About La Plata Silver-Gold-Copper Project
The road accessible La Plata project covers 33 km2 approximately 10 km northeast of the town of Mancos, Colorado within the historic high-grade La Plata mining district, located at the southwest end of the prolific Colorado Mineral Belt. Mineralization is related to a large-scale precious-metals-rich porphyry copper system with associated high-grade silver and gold epithermal vein and replacement deposits.
The La Plata district has a long and rich history of mining with the first silver deposits discovered in the 1700s by Spanish explorers. High-grade silver and gold production has been documented from the 1870s through the early 1940s from vein structures, replacement bodies and breccia zones at over 90 individual mines and prospects3. Historical production from some of these high-grade structures exceeded 1,000 grams per tonne (“g/t”) silver and over 15 g/t gold with some of the richest deposits delivering true bonanza grades for silver and gold.
From the 1950s to 1970s, major miners including Rio Tinto (Bear Creek) and Freeport-McMoRan (Phelps Dodge) explored in the La Plata district focusing on the significant potential for bulk-tonnage disseminated and stockwork hosted mineralization. Freeport-McMoRan retained ownership of claims in the district until 2002 when they sold their holdings to the current underlying vendors during the lows of the last metal price cycle.
Prior to 2022, a total of 56 drill holes, totaling 15,200 m, have been drilled on the property since the 1950s which confirms the presence of a large-scale, multi-phase porphyry system with significant silver, gold and copper that is associated with a 10 km2 strongly magnetic signature with intense hydrothermal alteration.
The April 2022 NI 43-101 Mineral Resource Estimate, which covers a relatively small part of the overall 33 km2 property, consists of 115.7 million tonnes at an average grade of 0.39% copper equivalent (“Cu Eq”) (0.35% Cu and 4.02 g/t Ag) using a 0.25% Cu Eq cut-off grade1. The deposit is steeply dipping and roughly tabular in shape, occurring over 1 km in length, 400 m in width with over 1 km in vertical extent based on drilling to date. The Allard deposit remains open to expansion in all directions.
The Allard deposit is a significant potential source of copper and silver, both important metals for the modernization and electrification of the economy. In addition, the broader La Plata property is known for the occurrence of important critical minerals that have been identified by the US Government as essential for the functioning of modern technologies and economies and that are at risk of supply disruption2. The resampling of hole 95-1 during the 2021 field season returned significant platinum and palladium assays associated with the Copper Hill target area east of the Allard resource area and corroborated historic accounts of its presence. Tellurium, another element on the critical mineral list, was a by-product of historic high-grade gold and silver production in the district. These and other important metals noted in the district will be evaluated as part of ongoing exploration of the project.
Upcoming Events
Yukon Geoscience
Metallic Minerals will be attending the annual Yukon Geoscience event in Whitehorse, Yukon November 19-22, with geologist, Taylor Haid, scheduled to give a technical presentation on the Keno Silver project.
Mines & Money London
Metallic Minerals President, Scott Petsel, will be attending the Mines & Money one-one-one conference in London, England November 29-December first, with meetings now being booked.
Footnotes
1) See Technical Report on the Inaugural Mineral Resource Estimate for the Allard Cu-Ag Porphyry Deposit, La Plata Project, Colorado, USA with an effective date of April 3, 2022. The Mineral Resource, prepared by Allan Armitage P. Geo of SGS Geological Services, an independent Qualified Person, has been estimated in conformity with CIM Estimation of Mineral Resource and Mineral Reserve Best Practices Guidelines (2019) and current CIM Definition Standards – For Mineral Resources and Mineral Reserves (2014). The constrained Mineral Resources are reported at a base case cut-off grade of 0.25% CuEq, based on metal prices of $3.60/lb Cu and $22.50/oz Ag, assumed metal recoveries of 90% for Cu and 65% for Ag, a mining cost of US$5.30/t rock and processing and G&A cost of US$11.50/t mineralized material. Copper Equivalent (Cu Eq) calculations are included for comparative purposes. The current Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in this Mineral Resource Estimate are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated or Measured. However, based on the current knowledge of the deposits, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
2) The US Geological Survey has released a list of 50 critical minerals that the US economy requires for economic and national security.
3) Eckel, USGS Prof Paper 219, Geology and Ore Deposits of the La Plata Mining District, 1949.
Qualified Person
Jeff Cary, CPG, a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Mr. Cary is a Senior Geologist and La Plata Project Manager for Metallic Minerals.
About Metallic Minerals
Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent Hecla Mining’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco in September 2022. In April 2022, Metallic announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.
This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – November 8, 2022) – Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the “Company” or “Provenance“) is pleased to announce that a NI 43-101 technical report has been filed on SEDAR for its Eldorado gold property in Malheur County, Oregon. The purpose of this report was to form a baseline for the property, which will be expanded further in 2023 following a confirmation drilling program planned by the Company. Eldorado has a historic drill hole database consisting of 242 drill holes that have outlined a large shallow open-ended gold system. This historical database is currently not sufficient as the basis for developing a current mineral resource, but work is underway to verify and bring current the historical data.
In 1990 the first mineral inventory was calculated by Pincock, Alan and Holt (PAH) a reputable engineering firm that was used industry wide for this type of work. PAH modeled 158 of the historic drill holes which identified approximately 52,896,000 tons that graded 0.578 g/t gold (0.0169 oz/t gold) at a cut-off of 0.274 grams per ton (0.008 oz/t) in the completely open-ended gold system. The Company is aware of a second historical resource estimate that was calculated by ICAN Minerals and a further projected resource estimate by ICAN from work completed between 1989 and 1997 where the tonnage and grade were substantially higher. The Company is not treating any of these estimates as current mineral resources and a qualified person has not done sufficient work to classify the estimates as current mineral resources. The estimates were prepared prior to the enactment of National Instrument 43-101 and should not be relied upon for investment decisions. The purpose of presenting this information is to show that the Eldorado property has potential to hold a large mineral inventory. Provenance plans to update these historical estimates into a current resource model. Near term work includes confirmation drilling by twinning a number of the historic holes, certifying and comparing assays between the old and new holes, validating all historic holes in the field with a GPS and confirming historic metallurgical test results. When the Company is comfortable with these upgrades in compliance, then a new stand-alone current resource can be calculated. Other than these, the Company is not aware of any more recent estimates prepared for the property.
Within the Eldorado mineralized area there are many higher-grade zones. For example, as quoted from the NI 43-101 report, ICAN Minerals’ hole R-96-C-1 intersected 1.51 g/t gold (0.0441 oz/t gold) over 196.9 meters (646 feet). The estimate predates and does not comply with current CIM Definition Standards but illustrates that the gold system is large and extends to depth, not just in area.
Examples of High Gold Intercepts in Some Drill Holes
“The Eldorado magmatic/hydrothermal system is interpreted as a classic porphyry gold system. Gold is found in veinlets, stockworks, fractures, and hydrothermal breccias. Mineralization is controlled by both strong fracture development and pyrite veining coincident with gold mineralization. Pyrite veining, or its oxidized equivalent, is common throughout all of the drill holes.”
The historic metallurgical work suggests the gold is largely recoverable by standard methods. Dawson Metallurgical Laboratories and Mountain States R&D International conducted metallurgical tests that were encouraging, and these tests will be duplicated using material obtained from the upcoming drill program.
“Dawson composited five unoxidized sulfide-bearing samples into a 13.15 kg test sample that assayed 1.233 g/t gold (0.036 oz/t gold). Pyrite was found to be the most common sulfide. Approximately 90% of the gold was recovered by two-stage gravity-flotation. Significant free gold was observed in both the gravity and flotation concentrates.”
Additionally.
“The Mountain States laboratory conducted a series of bottle-roll tests on composite sulfide samples from the Property. Three composite test samples yielded recoveries on unground rock that yielded 71%, 76%, and 77% recoveries. Grinding increased the recoveries to 92%, 86%, and 83%.”
Based on Historic Metallurgy, Gold in Both the Oxidized Rock (yellow) and Unoxidized Rock (grey) is Readily Recoverable by Conventional and Even Non-Chemical Methods
After review of the historic drilling and after surface inspection of the Eldorado Property, Provenance believes the gold system is open to expansion in all directions and will also expand with in-fill drilling. The Company believes that the area of mineralization extends far beyond initially thought, and the surface mineralization expands even further.
Steve Craig, Project Manager states, “With future drilling programs, this project will grow with step-out and infill drilling. Even in the central area, some major mineralized areas remain partially drilled. An important early additional plus is that the historic metallurgy by reputable laboratories indicated the gold is mostly recoverable even in the sulfide zone, by gravity and flotation in addition to standard chemical extraction. This is because the gold appears to have come in after the pyrite, so it’s exposed and accessible to recovery. This is unusual and very fortunate.”
The report concludes that the favorable geological setting of the Property, as well as mineralization intersected in historic drill programs indicate the presence of porphyry style gold mineralization at the Eldorado Property. Based on Mr. Gibson’s site inspection, as well as the authors’ review of historic and recent work completed at the Property, it is the opinion of the authors of this Report that the Eldorado Property is a property of merit that warrants future exploration.
As a result, the authors recommend a staged exploration program for the Property, with Phase 2 exploration being dependent on the results of Phase 1.
The Company will report on its next steps for advancing the Eldorado Property within the coming weeks. The Company has now submitted all the final permitting documents requested and required by DOGAMI, to finalize the review process. The Company is unaware of any further issues likely to arise and has been told that no further information will be required to complete the permit. Site visits to the property have identified additional areas of obvious surface mineralization. Based on these studies, the Company wants to expand the currently planned drilling to include some of these areas inside and outside the historically drilled area. The Company plans to conduct its initial drilling program in the Spring to allow use of the new information to help guide exploration of these undrilled areas and to take advantage of more favorable weather. More will be reported on these newly recognized mineralized areas in the very near future.
NI 43-101 Technical Report
An NI 43-101 Technical Report (the “Report”) entitled “Technical Report on the Eldorado Property, Malheur County, Oregon ” has been completed and filed on behalf of the Company. The report was completed by Michael Dufresne, M.Sc., P.Geol., P.Geo. of Apex Geosciences Ltd. and Jodie Gibson, M.Sc., P.Geo. with an effective date of October 20, 2022. The report was prepared to provide an independent evaluation of the exploration potential of the Eldorado Property. The Report has been posted on the Company’s website and is available on SEDAR.
Qualified Person
Steven Craig, CPG, an independent consultant and qualified person as defined under National Instrument 43-101, has reviewed and approved the technical contents of this news release.
About Provenance Gold Corp.
Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in three properties, two in Nevada, and one in eastern Oregon, USA. For further information please visit the Company’s website at https://provenancegold.com or contact Rob Clark at rclark@provenancegold.com.
On behalf of the Board, Provenance Gold Corp. Rauno Perttu, Chief Executive Officer
Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.
North Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from hole TUDDH 608 as part of its ongoing deep drill program in definition of the “500” zone. Exceptional results include 23.7 meters (m) averaging 17.52 g/t gold with a horizontal true width of 10.4m. Mineralized intervals are inclusive of several bonanza-grade intercepts. This hole is consistent with Lion One’s geological model of a robust Alkalic gold system with increasing gold grade at depth.
Highlights
A deep high-grade intercept of 17.52 g/t Au over 23.7m with 10.4m true width from TUDDH 608 Targeting intersection of TUG 141(20.86 g/t Au over 76.9m) and TUDDH 601(12.22 g/t Au over 54.9m) Structural interpretation for a deep high grade feeder system taking shape in Zone 500
TUDDH 608 – select high grade intercepts
From m
To m
Intercept m
Grade g/t Au
594.5
618.2
23.70
17.89
594.5
614.1
19.60
21.16
596.7
603.1
6.40
42.58
596.7
597.9
1.20
85.10
599.8
600.4
0.60
108.31
Lion One Senior Vice President Exploration Sergio Cattalani commented “By drilling at a high angle across the TUG 141 (20.86 g/t gold over 76.9m) / TUDDH 601 (12.22 g/t Au over 54.9m) high-grade zone, TUDDH 608 was able to provide valuable information on the width and continuity of this zone. The outstanding results obtained of 17.52 g/t gold over 23.7m corresponds to a horizontal true width of 10.4m, which is approximately seven times the estimated average mining width, and at a grade that is nearly twice the average grade of the existing resource. The significance of this zone and its likely contribution to the increase in overall contained ounces cannot be overstated, as the extent of this zone may be much greater than previously thought. We are currently drilling several additional holes to test the possible plunge extent estimated by oriented core structural measurements. We will continue to report additional results as they become available.”
Hole TUDDH 608 (azimuth: 089°, dip: -64°), drilled from west to east, was designed drill across the high-grade zone identified in two directions by TUG 141 and TUDDH 601 (Figures 1, 2). With the completion of TUDDH 608 we can now better understand the true horizontal width and potential volume of the bonanza-grade feeder zone. The results are outstanding with 23.7m drilled width at 17.5 g/t gold, including 19.6m of 20.7 g/t gold (Figures 3-10). The horizontal true width of the zone at the drilled location is 10.4m (Figure 1). Lion One regards the confirmation of the high-grade feeder zone initially identified by TUG 141 and TUDDH 601 as transformational in that it confirms both continuity and implies extensive volume of the mineralized feeder zone below the current resource. Mineralization in TUDDH 608 extends from 594.5m to 618.2m (Table 1).
Lion One CEO Walter Berukoff commented “We look forward to further definition of the “Jewel box” dilatational feeder zone that we have been drilling out beneath the existing resource starting from surface at Tuvatu. This hole provides outstanding results for us as it continues to lend credence and proof-of-concept to the thesis of a deeper, very high-grade, feeder-style zone at depth. We continue to add enormous value to the mine as well as the critical exploration upside with the drill bit. We are defining what looks to be the next major high-grade discovery and world-class gold deposit right here in Fiji. We look forward to further results in very near future.”
Assay Data for TUDDH 608
Drill Hole
Easting
Northing
Elevation
Azimuth
Dip
Length (m)
TUDDH 608
1876280.4
3920472.4
286.5
89
-64
678.1
Drill Hole
From (m)
To (m)
Interval (m)
Au (g/t)
TUDDH 608
38.0
38.6
0.6
1.04
263.8
264.4
0.6
0.79
285.1
285.7
0.6
0.69
493.6
493.9
0.3
3.08
503.2
510.0
6.8
2.45
Including
506.7
507.3
0.6
10.50
511.2
515.7
4.5
1.45
517.8
518.1
0.3
1.09
519.3
523.2
3.9
1.50
557.1
557.7
0.6
9.09
Including
557.1
557.4
0.3
11.65
Including
557.4
557.7
0.3
6.52
559.2
559.8
0.6
3.03
571.4
572.6
1.2
9.42
Including
571.4
572.0
0.6
17.03
Including
572.0
572.6
0.6
1.80
576.5
577.4
0.9
0.51
594.5
618.2
23.7
17.89
Which Includes
594.5
614.1
19.6
21.16
Also Including
596.7
603.1
6.4
42.58
Including
596.7
597.9
1.2
85.10
Including
597.9
598.6
0.7
9.42
Including
598.6
598.9
0.3
8.38
Including
598.9
599.2
0.3
11.44
Including
599.2
599.5
0.3
6.98
Including
599.5
599.8
0.3
36.39
Including
599.8
600.4
0.6
108.31
Including
600.4
600.7
0.3
21.69
Including
600.7
601.7
1.0
13.54
Including
601.7
602.2
0.5
23.21
Including
602.5
603.1
0.6
80.02
and
603.1
603.7
0.6
7.05
Including
603.7
604.0
0.3
11.98
Including
606.0
606.6
0.6
54.54
Including
606.6
607.2
0.6
12.00
Including
607.2
607.8
0.6
8.30
Including
607.8
608.4
0.6
29.57
Including
609.3
609.6
0.3
24.31
Including
610.2
610.8
0.6
10.85
Including
610.8
611.1
0.3
7.54
Including
611.4
612.1
0.7
45.02
Including
612.1
612.9
0.8
13.31
and
612.9
613.8
0.9
0.54
and
613.8
614.1
0.3
1.87
and
614.1
616.1
2.0
<0.5
616.1
618.2
2.1
4.26
Including
616.1
616.7
0.6
11.72
Including
616.7
617.5
0.8
1.87
Including
617.5
618.2
0.7
0.59
670.2
670.5
0.3
1.05
Figure 1: Tuvatu Alkalic gold mine. Blue shapes are areas of known mineralization that define the current resource. Note the trifecta of holes that delineate, in 3 different orientations, the 10.4m true width of the “Jewel Box” high-grade zone (Brown =>10 g/t Au) which occurs within the larger high-grade 500 feeder zone
Figure 2: Closer view of the lower portion of Figure 1, depicting theorientation of selected drill holes that define a coherent high-grade portion within the high-grade 500 Zone mineralization entirely below the current resource.
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).
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
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.
Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce results from drilling at the Torbrit Resource area, including infill and step-out drilling within the Kitsol Vein zone.
The high-grade, potentially bulk-mineable Kitsol Vein continued to deliver outstanding, contiguous silver and base metal mineralization, where DV22-291 intersected 12.51m (8.88m true width) averaging 442 g/t Ag, 0.68% Pb and 0.42% Zn, including of 1,367 g/t Ag over 1.50m (1.07m true width), as an up-dip infill hole from previous high-grade intercepts.
Highlights include:
DV22-289: 979 g/t Ag over 0.49 meters true width, step out at Torbrit Main
DV22-291: 442 g/t Ag over 8.88 meters true width, infill at Kitsol
DV22-298: 372 g/t Ag over 10.78 meters true width, up-dip extension at Kitsol
DV22-308: 297 g/t Ag over 6.59 meters true width, step out at Torbrit Main
DV22-312: 585 g/t Ag over 3.30 meters true width, step out at Torbrit Main
“In addition to discovery-focused exploration drilling, Dolly Varden Silver has been prioritizing resource expansion and upgrading at the Torbrit/Kitsol, Wolf, Homestake Main and Homestake Silver deposits. We continue to encounter wide, potentially bulk-mineable vein-hosted silver mineralization at Kitsol, and expect to announce significant drill results from the other resource areas in the next few weeks,” said Shawn, Khunkhun, President and CEO.
The 2022 exploration drill program on the Kitsault Valley trend has completed 37,061m in 108 drill holes. Drilling wrapped up in mid-October, with the majority of assays still pending. Additionally, ground geophysics, surface mapping and prospecting work were completed, evaluating historic prospects and identifying new silver and gold occurrences.
Torbrit Main and North Deposits consist of distinctive stratabound silver mineralization associated with a high potassium and coincident sodium depletion alteration signature. Layers consist of red jasper with bladed crystal growths after barite later replaced by silica. Relatively quick capping of the system by volcanic activity caused an overprinting of epithermal brecciation and veining which further augmented the silver grades within the deposit area.
Figure 1. Drill hole DV22-308 from Torbrit Main showing typical red jasperoid stratabound mineralization with epithermal overprint carrying higher silver grades
The main focus of Torbrit step out drilling at the Torbrit Main Deposit targeted the southern limits of the current Mineral Resource. Drill holes were oriented to step-out from, as well as infill areas of modelled inferred resources (see Figure 3). The Torbrit horizon was intersected in all expansion holes; future infill drilling programs will target high grade shoots within the lower grade horizon, which were commonly encountered in historic mining at the Torbrit, Wolf and Dolly Varden deposits.
Figure 2. Location along the Kitsault Valley trend
The Kitsol Vein is considered part of the epithermal, structurally controlled system that over printed the stratabound layers. Mineralization consists of pyrargerite (ruby silver), argentite and native silver in a silica breccia vein system. The northeast/southwest orientation of the vein and nature of the high grade silver plunge is similar to what is developing at the Wolf deposit 1.4km to the north (see figure 2).
Drilling during the 2022 season at Kitsol has encountered wide, high grade silver mineralization, commonly with overprinting high-grade vein shoots within wide vein sets. Previously reported step-out drill hole DV22-283 that intersected 50.18m (~30.0m true width) averaging 414 g/t Ag (see news release August 10, 2022) suggest multiple high-grade, steeply plunging yet wide silver shoots that extend to surface, as demonstrated by up-dip hole DV22-298 which intersected 21.55m (10.78m true width) grading 372 g/t Ag (see Figure 5). Additional results from step-out drill holes testing deeper, down plunge mineralization from DV22-283 at the Kitsol Vein are pending.
Figure 3. Plan map, Torbrit Resource Area with 2019 resource block model. Yellow/orange blocks indicates targeted expansion areas of Inferred and exploration potential respectively.
Figure 4. Geological Cross Section (A-B) of southern Torbrit deposit with 2019 modelled mineralized envelope in red and 2022 drilling with mineralized intercepts as pink lithology
Figure 5. Kitsol vein long section highlighting six 2022 infill and expansion drill holes that define a steep plunge to high-grade silver mineralization. Section view looking Northwest.
Table 1. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).
Hole ID
From
To
Core Length (m)
True Width (m)*
Ag (g/t)
Pb (%)
Zn (%)
Au (ppm)
AgEq** (g/t)
DV22-282 (Kitsol)
175.38
179.05
3.67
2.83
210
0.48
0.11
0.04
232
DV22-284
111.33
112.97
1.64
1.31
50
0.58
6.10
NSV
299
and
114.43
115.51
1.08
0.86
129
0.16
1.45
NSV
189
and
125.32
128.85
3.53
2.82
27
0.11
3.44
0.06
165
DV22-286 (Kitsol)
173.54
174.50
0.96
0.58
141
0.81
0.55
0.15
200
and
177.00
183.95
6.95
4.17
188
0.24
0.16
0.09
209
including
178.80
179.53
0.73
0.44
448
0.15
0.18
0.16
473
including
181.92
182.42
0.50
0.30
564
0.29
0.11
0.39
609
DV22-287
176.00
177.00
1.00
0.90
NSV
NSV
1.69
NSV
64
DV22-289
11.49
12.00
0.51
0.49
979
0.37
0.16
NSV
996
DV22-291 (Kitsol)
120.19
132.70
12.51
8.88
442
0.26
0.31
NSV
462
including
120.19
120.72
0.53
0.38
144
1.21
1.33
0.05
236
including
125.50
127.00
1.50
1.07
1367
0.22
0.17
NSV
1380
DV22-290
19.21
19.94
0.73
0.70
406
0.17
0.13
NSV
416
DV22-292
NSV
DV22-293
88.34
91.80
3.46
3.43
136
0.05
0.02
NSV
138
including
90.77
91.80
1.03
1.02
166
0.08
0.03
NSV
170
DV22-295 (Kitsol)
145.90
152.00
6.10
3.48
145
0.85
0.36
NSV
185
including
147.40
151.00
3.60
2.05
166
0.23
0.33
NSV
186
and
240.50
241.00
0.50
0.29
230
0.02
0.01
0.01
232
DV22-298 (Kitsol)
25.45
47.00
21.55
10.78
372
0.68
0.42
NSV
409
including
27.79
34.56
6.77
3.39
785
1.59
0.64
NSV
858
including
27.25
28.85
1.60
0.80
517
5.48
2.40
NSV
777
including
29.50
30.50
1.00
0.50
1054
0.50
0.21
NSV
1077
*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths **AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn
Table 1 con’t. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).
Hole ID
From
To
Core Length (m)
True Width (m)*
Ag (g/t)
Pb (%)
Zn (%)
Au (ppm)
AgEq** (g/t)
DV22-296
81.00
82.25
1.25
0.89
119
1.15
0.27
NSV
165
and
85.05
88.50
3.45
2.45
130
1.31
0.41
NSV
186
and
90.00
91.00
1.00
0.71
98
1.28
0.35
NSV
151
and
108.40
115.60
7.20
5.11
60
1.44
0.67
NSV
130
and
124.25
125.40
1.15
0.82
274
0.05
0.43
NSV
292
DV22-297
NSV
DV22-299
19.45
23.00
3.55
3.12
166
0.03
0.06
NSV
169
and
30.50
31.00
0.50
0.44
517
3.16
0.09
NSV
618
and
52.35
52.83
0.48
0.42
267
2.29
0.07
NSV
341
and
74.73
75.48
0.75
0.66
242
0.26
0.10
NSV
254
and
107.12
112.00
4.88
4.29
168
0.15
0.50
NSV
192
and
122.87
123.53
0.66
0.58
199
0.25
0.19
NSV
214
DV22-301
127.50
129.00
1.50
0.66
370
0.55
0.15
NSV
393
and
163.30
164.16
0.86
0.38
153
0.26
0.20
0.01
168
including
173.16
173.95
0.79
0.35
235
0.22
0.16
NSV
248
DV22-303
150.91
154.85
3.94
3.43
325
0.42
0.06
0.30
340
DV22-305
157.00
159.26
2.26
2.21
168
0.21
0.05
NSV
176
and
170.05
170.55
0.50
0.49
283
0.05
0.02
NSV
285
DV22-306
114.00
117.41
3.41
3.41
132
0.40
0.64
0.01
170
and
119.00
123.50
4.50
4.50
166
0.12
0.56
0.02
193
and
148.00
151.44
3.44
3.44
191
0.06
0.03
0.01
194
and
155.00
159.00
4.00
4.00
145
0.18
0.09
0.01
155
DV22-308
146.18
154.52
8.34
6.59
297
1.25
0.47
NSV
354
including
149.75
152.28
2.53
2.00
773
1.29
0.68
NSV
839
DV22-309
126.62
128.58
1.96
1.84
193
0.48
0.03
0.01
210
DV22-310
NSV
DV22-312
60.00
63.30
3.30
3.30
585
0.02
0.06
NSV
588
including
60.00
61.13
1.13
1.13
1050
0.02
0.06
NSV
1053
and
105.25
108.62
3.37
3.37
159
0.13
0.04
NSV
165
DV22-313
80.00
81.10
1.10
1.10
158
0.01
0.30
NSV
169
and
105.00
106.67
1.67
1.67
160
0.30
0.09
NSV
173
*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths **AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn
Table 2. Drill hole locations.
Hole ID
Zone
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
DV22282
Kitsol
467543
6172134
404
118
-45
214.00
DV22286
Kitsol
467543
6172134
404
90
-58
438.00
DV22284
Torbrit
467833
6171639
349
28
-59
472.35
DV22287
Torbrit
467833
6171639
349
28
-88
215.00
DV22289
Torbrit
468026
6171334
352
50
-68
90.00
DV22290
Torbrit
468026
6171334
352
50
-69
165.00
DV22291
Kitsol
467571
6172168
394
100
-50
300.00
DV22295
Kitsol
467571
6172168
394
100
-60
339.00
DV22292
Torbrit
468040
6171287
358
55
-45
129.00
DV22293
Torbrit
468405
6171309
649
70
-50
137.00
DV22296
Torbrit
468405
6171309
649
45
-65
150.00
DV22297
Torbrit
468405
6171309
649
45
-80
201.00
DV22299
Torbrit
468405
6171309
649
15
-50
183.00
DV22298
Kitsol
467627
6172140
371
115
-65
121.00
DV22301
Torbrit
468330
6171405
643
45
-82
237.00
DV22303
Torbrit
468326
6171329
605
120
-83
216.00
DV22305
Torbrit
468326
6171329
605
200
-80
216.00
DV22306
Torbrit
468221
6171390
549
45
-55
216.00
DV22308
Torbrit
468221
6171390
549
50
-80
219.00
DV22309
Torbrit
468228
6171263
522
35
-60
177.00
DV22310
Torbrit
468228
6171263
522
35
-78
201.00
DV22312
Torbrit
468320
6171216
568
45
-58
150.00
DV22313
Torbrit
468320
6171216
568
45
-75
150.00
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed and a 500 gram split is pulverized to minus 200mesh. Multi-element analyses were determined by Inductively-Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.
Qualified Person
Rob van Egmond, P.Geo. Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
VANCOUVER, BC / ACCESSWIRE / November 4, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that were due to expire November 21, 2022 (the “Warrants”). Per the application, 5,233,824 Warrants that were originally issued as part of a financing completed in November 2019 (see news release dated November 21, 2019) will be extended to a new expiration date of May 21, 2023. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.25.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the ongoing production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update now in progress based on a 14-hole expansion drilling campaign.
Stillwater Critical Minerals also holds the high-grade Drayton-Black Lake Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario. Drayton-Black Lake is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
A CRITICAL MINERALS EXPLORATION COMPANY Rover Metals (“Rover”) is a publicly traded Canadian junior mining company specialized in North American critical minerals and precious metal development-stage mining projects. Rover’s twelve month forward-looking plan is to advance exploration at our Nevada Claystone Lithium project and at our Northern Canada Zinc-Copper project, located near the city of Yellowknife, NT, Canada. The Indian Mountain Lake Project is the Company’s first district scale land package, representing approximately 30,000 acres of greenstone belt.
Rover Metals also has 100% ownership of several gold mining assets located near to the city of Yellowknife, NT. Rover obtained a public listing for its securities on the TSX Venture Exchange as a Tier II Mining Issuer on June 26, 2018.
Rover Metals trades under the symbol “ROVR” on the TSXV. Rover also obtained a public co-listing of its securities on the OTCQB on January 17, 2019 (OTCQB: ROVMD), and on the Frankfurt Stock Exchange on February 1, 2021 (FRA: 4XO).
The Company is run by an experienced management team and board that are career mining executives. Our management team and board have a proven history financing the development of mining projects, taking them into production, and re-selling them.
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TORONTO, ON / ACCESSWIRE / November 3, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“).
Further to its September 30, 2021 news release, RooGold is pleased to announce, with Australian regulatory clearance obtained, the final closing of the definitive Share Exchange Agreement with Aussie Precious Metals Corp. (“APMC“) in which RooGold has effectively acquired a 100% interest in APMC’s Trilby and Lorne properties (“Properties“) in New South Wales (NSW) Australia. The Issuer issued four million (4,000,000) common shares (the “Purchase Shares“) to the shareholders (“Shareholders“) of APMC in exchange for all of the issued and outstanding shares of APMC with the Properties held in APMC’s wholly owned Australian subsidiary. The Purchase Shares have now been released from escrow subject to voluntary undertakings as to when such Purchase Shares may be traded.
About RooGold Inc. ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.
For further information please contact: Ryan Bilodeau (416) 910-1440 info@roogoldinc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
