Category: Precious Metals

Categories
Base Metals Junior Mining Precious Metals

Goldshore Resources Provides Corporate Update and Equity Grant

Vancouver, British Columbia–(Newsfile Corp. – December 28, 2023) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to share a corporate update in regards to its ongoing activities.

Corporate Update Highlights:

  • The Company is completing a Mineral Resource Estimate (“MRE”) update and expects the results of the study to be completed in January 2024.
  • Goldshore continues to work with its metallurgical consultants on test work for heap leaching the low-grade material from the Moss Gold deposit, using various composites of ore size and grade. The result of the heap leach testing should be completed by the end of H1 2024.
  • Once the new model, MRE and metallurgical testing are completed, the Company will commence Phase Two of the preliminary economic assessment (“PEA”), in scoping a project (size and scale) that deliver optimum economic results, appreciating the market’s discontent for large scale Cap-Ex projects. Completion of the PEA will be done by the end of August 2024.
  • The Company hosted a Year in Review conference call with questions and answers from investors and can be viewed on: Media | Goldshore Resources.

Equity Grant to Management and Directors

Goldshore’s Board of Directors (“Board”) granted 3,569,333 incentive stock options (“Options”) and 2,095,332 restricted share units (“RSU”) to the directors, management, officers and consultants of the Company as part of its annual compensation plan. The Options are exercisable at $0.15 per share for a period of five (5) years and vest as follows: 1/3 on May 22, 2024, 1/3 on May 22, 2025 and 1/3 on May 22, 2026. The RSU’s vest 12 months from the date of grant as follows: 1,536,665 on December 11, 2024 and 558,667 on December 22, 2024.

About Goldshore

Goldshore is an emerging junior gold development company and owns 100% of the Moss Gold Project located in Ontario. The Company is well-financed and supported by an industry-leading management group and board of directors, and is well positioned to advance the Moss Gold Project through the next stages of exploration and development.

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

This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any U.S. state securities laws, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

THIS PRESS RELEASE, PROVIDED PURSUANT TO APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THE OFFERING IN QUESTION HAS NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND THE SECURITIES SOLD IN SUCH OFFERING MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION OR APPLICABLE EXEMPTION FROM REGISTRATION REQUIREMENTS.

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.

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 Gold Project, the release of an updated mineral resource estimate and preliminary economic assessment, 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192532

Categories
Base Metals Diamcor Mining Energy Exclusive Interviews Junior Mining Precious Metals

Diamcor Mining | Diamond Sector Set to Surge 💎

💎 Diamcor Mining 💎: TSX.V: DMI
Website: https://diamcormining.com/
Corporate Deck: https://diamcormining.com/_resources/…
Contact:
Mr. Rich Matthews
rmatthews@integcom.us
+1 (604) 757-7179

Mr. Dean H. Taylor
deant@diamcor.com
1.250.864.3326

About Diamcor 💎: Diamcor Mining Inc. is a publicly traded Canadian company with a proven history of supplying rough diamonds to the world market. Diamcor has established a long-term strategic alliance with world famous luxury retailer Tiffany & Co. and is now in the final stages of developing the Krone-Endora at Venetia Project co-located with De Beer’s flagship Venetia mine.

Categories
Base Metals Energy Junior Mining Precious Metals

Dolly Varden Silver Consolidates Big Bulk Copper-Gold Porphyry Property

Vancouver, British Columbia–(Newsfile Corp. – December 20, 2023) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden”) has entered into an assignment and assumption agreement (the “Assignment Agreement”) with Libero Copper & Gold Corporation (“Libero”) pursuant to which Dolly Varden has acquired (the “Acquisition”) from Libero an option agreement (the “Option Agreement”) entitling Dolly Varden, subject to certain conditions, to earn-in a 100% undivided interest in the southern portion of the Big Bulk Project from Libero thus consolidating the entire copper-gold porphyry system. The Libero property, also known as the Big Bulk Property (the “Big Bulk Property”), is comprised of seven mineral claims making up 3,025Ha in the Golden Triangle, British Columbia. Pursuant to the Assignment Agreement, as consideration, the Company has agreed to issue Libero 275,000 common shares of the Company (the “Consideration Shares”).

Agreement Highlights

  • Consolidation of the Big Bulk copper-gold mineralized calc-alkali porphyry system of the Texas Creek plutonic suite (“Big Bulk”).
  • Historic data sets will be incorporated into a complete geologic model.
  • Existing Land Use Agreement and Exploration Permit in place.

“We have been continuing to seek accretive consolidation opportunities in the area and the amalgamation of the southern portion of the Big Bulk copper gold porphyry with Dolly Varden’s portion is our latest step,” said Shawn Khunkhun, President and CEO of Dolly Varden. “In the Golden Triangle, porphyry systems can represent metallogenic feeders to high-grade vein systems, such as the KSM Deposit that occurs adjacent to the Brucejack Mine. Big Bulk may represent a causative mineralized porphyry to the high-grade silver and gold deposits 10 kilometres to the west at the Kitsault Valley Trend.”

About The Big Bulk Porphyry System

Big Bulk is located 20 kilometres north of the town of Kitsault, BC, and is surrounded by Hecla Mining’s Kinskuch project (Figure 1). The Big Bulk porphyry copper-gold system hosts multiple phases of intrusive rocks, hosted in Lower Jurassic-age Hazelton and Triassic-age Stuhini volcanic and sedimentary rocks analogous (Figure 2). Recent work by the British Columbia Geological Survey (“BCGS”) and University of British Columbia (“UBC”) Mineral Deposits Research Unit (“MDRU”) indicate that Big Bulk is the northernmost porphyry of a string of several porphyry mineralized systems of multiple geologic ages that extend 30km south to the New Moly LLC’s Eocene-age Kitsault molybdenum deposit.

The southern portion of the Big Bulk Property was initially explored by Teck and Canadian Empire Minerals from 2001 to 2003. The northern half of the system was drilled by AngloGold in 2009, encountering porphyry-style alteration with copper and gold mineralization associated with quartz chalcopyrite/pyrite stockwork veins.

A new interpretation of the geology based on recent geologic mapping by the BCGS indicates that the target is a much larger calc-alkaline porphyry system tilted on its side with similarities in age and structural setting to the Kerr-Sulpherets-Mitchell (KSM) deposits. The work by UBC-MDRU (2018) places the Big Bulk intrusive along a regional structural trend that hosts numerous porphyry and epigenetic deposits. Within the Big Bulk porphyry system, higher grade mineralization occurs in a discreet mineralized phases that had not been targeted by previous operators.

Libero’s 2021 drill program at Big Bulk tested the new geological model focusing on a quartz-chalcopyrite veined hornblende diorite intrusive phase of the Texas Creek plutonic Suite that was intersected in multiple holes.

The Acquisition

The Acquisition is being completed pursuant to the Assignment Agreement. Dolly Varden has agreed to issue the Consideration Shares to Libero at a deemed value of $0.78 per Consideration Share (being the closing price of the Common Shares on the TSX Venture Exchange (the “TSXV”) on December 15, 2023) for an aggregate consideration of $214,500.

Issuance of the Common Shares remains subject to TSXV approval and other customary conditions and is currently expected to occur on or about December 22, 2023. The Company has agreed to use commercially reasonable efforts to promptly make all filings and take all necessary actions required to effect the Acquisition, including the issuances of the Consideration Shares. The Company intends to file a prospectus supplement to its base shelf prospectus dated April 25, 2023 to qualify the distribution of the Consideration Shares to Libero.

The Option Agreement

In connection with the Acquisition, Dolly Varden also entered into an amending agreement with LCT Holdings Inc., the owner of the Big Bulk Property and optionor under the Option Agreement. The amended Option Agreement provides that Dolly Varden may earn-in a 100% undivided interest in the Big Bulk Property by completing the following payments:

a) $50,000 in cash on or before December 31, 2023;

b) $150,000 in cash on or before December 31, 2024;

c) $250,000 in cash or common shares on or before December 31, 2025;

d) $500,000 in cash or common shares on or before December 31, 2026; and

e) $500,000 in cash or common shares on or before December 31, 2027.

Any common shares issued by Dolly Varden under the Option Agreement, as amended, will be issued at a deemed price equal to the ten day volume weighted average price of the Dolly Varden common shares on the TSXV, subject to minimum pricing rules on the TSXV. The Option Agreement gives Dolly Varden the option to accelerate the payments described above.



Figure 1. Dolly Varden Silver’s Consolidated Big Bulk Project Location, Kitsault Valley, Northwest BC

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/191620_d9e86891445c98fc_002full.jpg



Figure 2. Dolly Varden Silver Kitsault Valley and Big Bulk Projects hosted in Jurassic Hazelton Group rocks and Texas Creek age Porphyry Intrusive

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/191620_d9e86891445c98fc_003full.jpg

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program for Dolly Varden on the Kitsault Valley Project and the Big Bulk 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, 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 anticipate closing of the Acquisition, the planned filing of a prospectus supplement, the potential benefits of the Acquisition and other statements that are not historical facts.

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 annual information form dated April 11, 2023 for the year ended December 31, 2022 and the Company’s base-shelf prospectus dated April 25, 2023, both available on SEDAR+ at www.sedarplus.ca.

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191620

Categories
Base Metals Energy Junior Mining Precious Metals Project Generators

Riverside Samples 7.30 g/t Gold from Rock Samples Along a 0.8 km Transect Expanding Target Zone at the Cecilia Project in Sonora, Mexico

Vancouver, British Columbia–(Newsfile Corp. – December 20, 2023) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”), is pleased to report on rock sampling and fieldwork from the Cecilia Gold-Silver Project (the “Project”) in Sonora, Mexico. The results fit within the larger context of a district scale gold-silver composite dome system with superimposed gold-rich veins. Past drilling by Riverside intercepted high-grade gold in 4 of the 7 holes and this sampling over new areas, doubles the strike of the defined mineralization footprint This large footprint is consistent with other rhyolite dome gold systems including those in New Mexico like Mogollon and in Sonora like at La India mine of Agnico Eagle.

Key Highlights:

  • 34 rock samples were collected at the primary targets.
  • 22 samples in the main target “Cerro Magallanes” confirming Au grades up 7.3 g/t Au and Ag > 100 g/t.
  • Five (5) primary structural trends were identified with field data and historic geochemical data reprocessing.
  • Updated drilling permits, valid for the next several years, have been obtained along with signed agreements for surface access over the targets.

Riverside collected rock chip samples from selective areas along 0.8 km length in the Magallanes Target area that returned gold values in assays up to 7.3 g/t Au and 144 g/t Ag (Figure 1A., Table 1). The sampling confirms the consistent Au grades obtained in past surface workings and diamond core drilling that includes 24.2m @1.51 g/t Au in CED21-005 by the Company. The mapping and exploration activities combined with data reprocessing allows the company geologists to define the main structural trends (Agua Prieta, San Jose, North Breccia, Central and East trends) that are the main mineral corridors (Figure 2). The structural trends are interpreted as the surface expression of a rooted rhyolite dome system where higher grades lie at the base of the hill (Figure 1B). The geochemical data obtained, and the geologic mapping are helpful to refine the geological model for the deposit type and target delineation for the next drill program planned for 2024.



Figure 1. A. Plan view map of the Magallanes Target with some of the new geochemical sampling done recently and the defined structural trends. B. Schematic cross-section interpreting the convergence of the structural trends into the root of a mineralized rhyolite composite dome system (like those found at Yanacocha, Peru and San Julian, Mexico).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/191682_riversidefig1.jpg

Table 1: Selected assay results from Riverside’s recent sampling at Cecilia.

AreaEastNorthElevationSample TypeAu_g/tAg_g/t
Cerro Magallanes61221534369341779selected7.3144
Cerro Magallanes61159834369322165selected6.189.21
Cerro Magallanes61236234370661711dump3.8738.7
Cerro Magallanes61146934369112167chip2.641.33
Cerro Magallanes61142534368982133chip2.082.3
Cerro Magallanes61193534369541936chip1.8612.65
La Cruz61536534384841431chip1.633.29

Figure 2. North-looking oblique aerial photograph of the Magallanes Dome Complex with different targets. The dashed red lines indicate the trends that control -mineralization and that are interpreted to be rooted in the central portion of the dome creating the next focused drill targeting.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/191682_riversidefig2.jpg

Cecilia Project

The Cecilia project consists of six mineral concessions, collectively covering over 77 sq km (7,739 hectares) in size, thus a large district covered by the Company. The Project is located 40 kilometers southwest of the Agua Prieta border between Mexico and the USA, and 50 kilometers east of Mexico’s largest mining complex, Cananea copper mining complex producing the largest amount of copper in Mexico.

In the Cecilia Project, the rhyolitic tuffs and dome complex units intrude and unconformably overlie a sequence of marine clastic sedimentary rocks consisting of interbedded siltstone and sandstone of the Cretaceous Cabullona Group which hosts gold mineralization in other portions of northern Sonora as well as here at Cecilia. The age of the mineralization obtained by Riverside yielded ca. 18 Ma using U-Pb in zircons in syn-volcanic mineralized rhyolite flow dome in the top of the sequence. This age for mineralization tied to magmatism has also been reported in large Au camps in Arizona (e.g. Oatman area, DeWitt et al.,1986).

Riverside work in the district has developed additional targets including the Cruz 1, Cruz 2, Cruz 3, Casa de Piedra, Los Llanos, and Magallancito targets (Figure 3). These targets represent different levels of exposure and make the Cecilia project a potential district for multiple gold discoveries.



Figure 3. Map of the district by Riverside with areas of clustering with gold mineralization and targets shown. Stratigraphic column with targets in stars for location in the stratigraphy similar to other major rhyolite dome districts where multiple targets in diverse structural settings.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6101/191682_riversidefig3.jpg

Qualified Person & QA/QC:

The scientific and technical data contained in this news release pertaining to the Cecilia Project was reviewed and approved by Julian Manco, P.Geo, a non-independent qualified person to Riverside Resources focusing on the work in Sonora, Mexico, who is responsible for ensuring that the information provided in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Rock samples from the exploration program discussed above at Cecilia were taken to the Bureau Veritas Laboratories in Hermosillo, Mexico for fire assaying for gold. The rejects remained with Bureau Veritas in Mexico while the pulps were transported to Bureau Veritas laboratory in Vancouver, BC, Canada for 45 element ICP/ES-MS analysis. A QA/QC program was implemented as part of the sampling procedures for the exploration program. Standard samples were randomly inserted into the sample stream prior to being sent to the laboratory.

About Riverside Resources Inc.:

Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $6M in cash, no debt, and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.

ON BEHALF OF RIVERSIDE RESOURCES INC.

“John-Mark Staude”

Dr. John-Mark Staude, President & CEO

For additional information contact:

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191682

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Announces Early Repayment of the US$10M Sprott Credit Facility

Vancouver, British Columbia–(Newsfile Corp. – December 19, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce the early repayment of US$10 million toward the principal amount of the Senior Secured Credit Facility (the “Sprott Credit Facility”) held by a fund managed by Sprott Resource Lending Corp. The remaining principal amount of US$34.7 million of the Sprott Credit Facility is due to be repaid by December 31, 2024. For additional information related to the Sprott Credit Facility refer to news release dated July 29, 2021, August 17, 2021, October 21, 2021, and January 25, 2022.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

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

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

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

Forward-Looking Statements

This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191599

Categories
Junior Mining Precious Metals

Gold79 Provides a Drill Permitting Update on the Jefferson Canyon Project

Ottawa, Ontario–(Newsfile Corp. – December 19, 2023) – Gold79 Mines Ltd. (TSXV: AUU) (OTCQB: AUSVF) (“Gold79” or the “Company”) is pleased to provide an update on the permitting process at its Jefferson Canyon project, in Nevada.

The original Plan of Operations for Jefferson Canyon was submitted in July 2021 and the cultural and biological studies were completed and submitted in Q2 2022. Gold79 received feedback on the proposed areas of disturbance relative to identified cultural sites in March 2023. After multiple revisions to the plan it was resubmitted on December 12, 2023. The revised application is for 20 drill sites and associated roads to service them.

Derek Macpherson, President and CEO of Gold79, states, “The permitting process at Jefferson Canyon has taken far longer than originally anticipated. While this has been a frustratingly long process for both Company shareholders and management, the recent progress provides us a positive view that the permitting process may be completed in-time for the 2024 exploration season.”

The Jefferson Canyon project in Nye County, Nevada is located 7 kilometres from Kinross’s Round Mountain operations. The project has 145 historical drill holes, including 41.2m at 6.4 g/t gold and 402 g/t silver (GJ-81). In 2022, Gold79 entered into an Exploration and Option agreement with Kinross. Kinross has made all the required payments associated with the agreement to date and has been working with Gold79 on completing the permitting process.

Corporate Update

The Company has granted incentive stock options to a director of the Company to purchase up to 300,000 common shares of the Company pursuant to the Company’s stock option plan. The options have a five-year term to expiry and are exercisable at $0.05 per share.

Qualified Person / Quality Control and Quality Assurance

Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company’s Vice President, Exploration is a qualified person (“QP”) as defined by NI 43-101 and has reviewed and approved the technical content of this press release.

About Gold79 Mines Ltd.

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

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

Book a 30-minute meeting with our CEO here.

Stay Connected with Us:

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

FORWARD-LOOKING STATEMENTS:

This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business including any proposed private placement or any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company’s future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the ‘safe harbour’ provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. Gold79 does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/191480

Categories
Precious Metals

Palladium Surges 12% as UK Sanctions Target Russia Metals

(Bloomberg) — Palladium headed for its biggest gain since March 2020 as the UK government targeted Russian metals — but not palladium — with new sanctions.

The metal that’s mainly used in catalytic converters surged as much as 12% on Thursday after the UK published measures that ban British citizens and entities from buying certain Russian metals. 

While the measures didn’t target palladium supplies from Russia, which account for 40% of new mine supply, broader concerns about disruption were enough to propel the metal to the highest since Nov. 7. Traders with bearish positions covering their bets also fueled its gain.

Palladium is still down 38% this year as demand from automakers faltered thanks to de-stocking and the use of cheaper platinum in its place. Supplies from top miners Russia and South Africa have also not faced the kind of disruption that many investors feared.

Categories
Base Metals Energy Junior Mining Precious Metals

Grizzly Reports High-Grade Gold and Silver Grab Sample Results for Newly Acquired Ground in the Westbridge Area of the Greenwood, BC Precious and Battery Metals Project

Edmonton, Alberta–(Newsfile Corp. – December 13, 2023) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) is pleased to announce the first assay results for rock samples collected from the newly acquired and staked mineral claims in the Westbridge area of the Greenwood District. These are some of the first results from work conducted in the Westbridge to Beaverdell target areas within the Greenwood Precious and Battery Metals Project. In addition, results will also be forthcoming from additional prospecting and sampling in the Greenwood area and from recent work conducted at the Robocop Property following up on copper-cobalt anomalous soils identified in work over the last two years.

Highlights:

  • A total of 51 rock grab samples were collected from outcrop and mineralized dump material across the Colby and Enterprise claims acquired in early 2023 (Figures 1 & 2).
  • Additional staking has been conducted to expand and firm up the land position in the area.
  • Rock grab samples (40) from showings and mineralized dumps in the Colby area returned 13 samples with >1.0 gram per tonne (g/t) (0.029 ounces per ton [opt]) gold (Au) and 8 samples with >5.0 g/t (0.146 opt) Au up to 26.2 g/t (0.764 opt) Au including 12 grab samples with >30.0 g/t (0.875 opt) silver (Ag) up to 460 g/t (13.42 opt) Ag.
  • The high Au and Ag values are often accompanied by high lead and zinc in the 0.1 – 1% range. The high values are associated with gossanous pyritic material in quartz veins and breccia in what appears to be quartzite in contact with a diorite or felsic porphyry (Figures 3 & 4).
  • A total of 11 selected rock grab samples from the Enterprise showing and historical workings yielded 3 grab samples with >1.0 g/t (0.029 opt) Au up to 32.0 g/t (0.933 opt) Au including 3 grab samples with >30.0 g/t (0.875 opt) Ag up to 187 g/t (5.45 opt) Ag (Figures 1 and 2).
  • Sulphide mineralization at the Colby and Enterprise historical workings is associated with quartz veins, breccia and skarnified/silicified sedimentary rocks and intrusions. The alteration patterns are consistent with intermediate sulphidation epithermal mineralization.

Brian Testo, President and CEO of Grizzly Discoveries, stated, “We are excited with the new results to date from the new Westbridge mineral claims and we are planning follow-up exploration including extensive soil and rock sampling programs along with ground geophysical surveys. Much of newly acquired ground has seen little exploration and evaluation since the 1980’s. We also are looking forward to pursuing a number of high grade gold – silver – copper showings and historical mines with drilling in the New Year along with additional exploration for significant battery metal prospects in our current 165,000+ acre land holdings in the Greenwood District. We have barely scratched the surface in terms of exploration!“


 
Figure 1: Initial Gold Results Rock Sampling 2023 – Westbridge Area, Greenwood Project.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/190834_a0e9cf7b949439e3_002full.jpg


 
Figure 2: Initial Silver Results Rock Sampling 2023 – Westbridge Area, Greenwood Project.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/190834_a0e9cf7b949439e3_003full.jpg



 
Figure 3. Gossanous sulphide mineralization from vein outcrop Colby Claim.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/190834_a0e9cf7b949439e3_004full.jpg


 
Figure 4. Main adit quartz vein, sulphides and brecciated quartzite Colby Claim.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/190834_a0e9cf7b949439e3_005_006full.jpg

As the Company awaits drilling permits from the BC Government, significant ground based prospecting and sampling programs have been executed at the newly staked Marshall Lake claims as well as at a number of other exploration target areas including Midway, Imperial, Sappho-West Lexington and Beaverdell areas (Figure 5). A total of more than 800 rock samples and 3,800 soil samples have been collected during the 2023 field season. Results will be announced as they are received and interpreted over the coming weeks.

Update on Drilling:

Drilling will initially be focused at the historical Midway Mine (Figure 5) but the intent is that eventually the Company will complete new drilling in 2024 at Midway, Imperial, Copper Mountain (Mable Jenny, Coronation and Prince of Wales targets), and potentially the Sappho areas, depending upon the timing of the receipt of drill permits, additional funding and weather permitting. We eagerly await drilling permits from the BC Ministry of Energy Mines and Petroleum Resources. The permit applications were submitted initially in January-February of this year and the Company is now awaiting final comments and any required conditions or changes resulting from the recently completed 30 day notification periods. Archaeological and biological surveys are being conducted where required.


 
Figure 5: Grizzly active exploration target areas 2023.
 
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4488/190834_a0e9cf7b949439e3_007full.jpg

Summary of 2023 Exploration at Greenwood:

An extensive rock and soil sampling program along with new geological mapping during 2023 has been conducted in preparation for drilling. The work has yielded two new showings identified near the historical Midway Mine including up 5.64 g/t (0.165 opt) Au from a showing 400 m to the north of the Midway Mine and a second showing along an apparent fault structure with 4.19 g/t (0.122 opt) Au from a grab sample collected about 375 m to the west of the Midway Mine. At least 6 new areas with anomalous gold (> 100 ppb Au), silver or copper in soils have been identified across the Midway Mine Property with the results from follow up exploration in progress (See Company News Release Dated October 12, 2023). A summary of all the Midway results will be provided once all the results are received.

To date, gold-silver-base metal mineralization appears to be related to veins and stockworks at contacts between altered ultramafic-carbonate rocks (listwanites) in contact with diorite intrusions in a complex structural setting, with the intersections of structures playing a key role in the localization of alteration.

At the historical Imperial Mine area, a total of 50 new rock grab and rock chip samples were collected from the Imperial showing area, with 6 samples returning greater than 1 g/t(0.029 opt) Au up to 12.1 g/t (0.353 opt) Au and 8 samples retuning greater than 40 g/t (1.167 opt) Ag up to 469 g/t (13.68 opt) Ag (Figure 5). The samples define a targeted north – south strike length of over 170 m for future drilling. The samples show significant amounts of lead (Pb), zinc (Zn) and Cu with several samples yielding greater than 2% combined base metals (See Company News Release Dated October 12, 2023). Geological mapping is in progress and ground geophysical surveys are planned prior to conducting drilling at this target.

The Copper Mountain area continues to yield excellent results from a number of showings including the Coronation and Prince of Wales historical mines along with the Mabel Jenny area (Figure 5). A total of 9 of 14 rock grab and chip samples collected this year from a new zone discovered late in 2022 has yielded greater than 1 g/t (0.039 opt) Au up to 13.75 g/t (0.40 opt) Au (along with up to 61.9 g/t (1.81 opt) Ag) and up to 0.475% Cu and 2.93% Zn (See Company News Release Dated October 12, 2023). The discovery was made along a new logging road cut late in 2022 and appears to demonstrate quartz vein stockwork mineralization in an altered diorite over a strike length of more than 400 m when combined with anomalous samples from 2022.

Geological and prospecting crews have concluded prospecting, geological mapping, rock and soil sampling within the Greenwood Project area and have conducted an initial pass at the new mineral claim area staked August 1, 2023 (See Company News Release dated September 7, 2023). A number of existing showings and parts or extensions to known showings have been acquired with the staking of the new mineral claims including but not limited to Marshall Lake, Sylvester K, the Great Laxey, Eholt and lands adjacent to and surrounding the historical Phoenix Mine. Results from the initial sampling programs on these new claims will be released as they are received (Figure 5).

The geological and prospecting crew has made several discoveries of sulphide, quartz vein zones and skarn on the new claims (Figure 5). Sulphide showings associated with skarn at Marshall Lake hosted in Triassic Brooklyn Formation sedimentary rocks including limestone that has been intruded by diorite. The showings have been trenched and bulk sampled in the past (1960’s to 1970’s) yielding significant copper, silver and gold. Little to no modern exploration has been performed at the Marshall Lake target as well as a number of other showings in the Brooklyn sequence such as the Great Laxey.

The goal is to have a pipeline of high priority precious metal and battery metal targets that are all permitted and ready for a long 2024 drilling campaign in order to prioritize these assets into those that can deliver future mineral resources with additional drilling, eventually leading to some form of economic studies and scenarios that might be able to take advantage of local toll treating opportunities that exist in the Greenwood – Republic region.

Quality Assurance and Control

Rock and soil samples were analyzed at ALS Global Laboratories (Geochemistry Division) in Vancouver, Canada (an ISO/IEC 17025:2017 accredited facility). Gold was assayed using a fire assay with atomic emission spectrometry and gravimetric finish when required (+10 g/t Au). Rock grab and rock chip samples from outcrop/bedrock are selective by nature and may not be representative of the mineralization hosted on the project.

The sampling program was undertaken by Company personnel under the direction of Michael B. Dufresne, M.Sc., P.Geol., P.Geo. A secure chain of custody is maintained in transporting and storing of all samples.

The technical content of this news release and the Company’s technical disclosure has been reviewed and approved by Michael B. Dufresne, M. Sc., P. Geol., P.Geo., who is the Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

Suite 363-9768 170 Street NW
Edmonton, Alberta T5T 5L4

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.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.

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190834