VANCOUVER, BC / ACCESSWIRE / August 24, 2022 / Granite Creek Copper Ltd. (TSXV:GCX | OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the acquisition of the Star Cu-Ni-Platinum Group Metal (“PGM”) project, located in the Omineca mineral belt of northern British Columbia.
Granite Creek will secure a 100% interest in the Star project, with no underlying royalty or further obligation, for a total consideration of $10,000 CDN and the issuance of 500,000 common shares of the Company to the estate of Ursula Mowat. The issued shares will have a hold period of 4 months plus one day from the date of issuance. The Company anticipates closing the transaction on or about the August 30, 2022, subject to TSX Venture approval.
Tim Johnson, CEO of Granite Creek Copper, stated, “I was saddened to hear of the passing of Ursula Mowat who had been a pioneer in prospecting for platinum group metals and associated nickel and copper mineralisation in the Omineca region of British Columbia. As one of the first geologists to recognize the potential for the native iron-nickel alloy awaruite to be a significant source of low-cost nickel in the Omineca area, she will be remembered for her ground-breaking work in the industry. To be able to acquire the Star project claims and continue the development work to unlock the potential that Ursula obviously saw is an honour. We look forward to completing our initial work on the claims and relaying to investors the potential for both precious and battery metals on the project.”
“Although Granite Creek’s primary focus remains our flagship Carmacks Copper-Gold-Silver project with the pending updated preliminary economic assessment expected in Q4 2022, the Star project increases our exposure to critical minerals at a time when the Canadian government is incentivizing exploration of listed critical commodities in Canada, as part of a broader push to secure supplies of the minerals in North America for national security and to support the development of carbon free energy sources.”
About the Star Project
The Star project is located 190 kilometers northeast of Smithers, BC and is within 5 kilometers of the Omineca Resource Road and powerline that served the Kemess Mine. The 2500-hectare project is underlain by ultramafic rocks that are prospective for copper, nickel, cobalt, PGMs and gold. Previous work identified multiple showings consisting of copper and nickel sulphide mineralisation with accompanying PGM and gold values. The showings are identified within six distinct zones spread over a 12-kilometer strike length including Queen Zone, GL Zone, HB Zone, HC Zone, Libra Zone, and Ridge Zone (see accompanying Figure 1 for Zone locations as well as additional areas identified for follow up).
Highlights of some of the best mineralised copper and nickel sulfide bearing rock sampled by Ms. Mowat from the various are identified below:
1.18% Cu, 0.17 g/t Au, 0.11 g/t Pd from the Queen Zone
0.78% Cu, 0.25% Ni, 833 ppm Co and 0.27% Cu from the GL Zone.
0.09 % Cu, 1.32 g/t Pt and 1.82 g/t Pd from the HB Zone.
0.87% Cu, 0.18 % Ni, 0.12 g/t Au, 0.41 g/t Pt and 0.83 g/t Pd from the HC Zone.
0.31% Cu Cu from Libra Zone
0.30% Cu, 0.28 g/t Pt, 0.25 g/t Pd from the Ridge Zone.
Figure 1 Claim Block and Zone Location
Qualified Persons
Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical in this news release. Ms. James is a Senior Geologist with TruePoint Exploration and a Project Manager for Granite Creek Copper.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176-square-kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., to the north, and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. The project is located within the Traditional Territory of Little Salmon/Carmacks First Nation. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.
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 Granite Creek Copper 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 Granite Creek Copper 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.
Portion of Sample 853601 showing visible gold grains in quartz and country rock.
Figure 2.
Location map of Kingsway gold occurrences showing recent results at Golden Glove.
TORONTO, Aug. 23, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce assays from six samples containing visible gold recently collected during prospecting in the Golden Glove area at its 100% owned Kingsway Project. The samples were collected as part of the Company’s continuous efforts to generate and upgrade targets for drilling along the 12km strike length of the Appleton Fault Zone covered by the Kingsway Property.
The samples were taken from quartz veins believed to be splays off the original Golden Glove vein. Assays of the six samples ranged from 7.51 g/t to 479.51 g/t Au. The quartz veins are hosted by grey and black shales and are typically vuggy and locally stylolitic with iron carbonate alteration. The four highest grade samples contain visible gold, and all samples contain between 2 and 5% pyrite and arsenopyrite both in the vein and along the contact with the shale wallrock. These results are comparable to assays from the initial samples taken at Golden Glove that ranged from 2.99 to 338.08g/t Au (see news release dated September 21, 2021).
“The discovery of more veins containing high-grade gold at surface is encouraging as it gives us additional information on the structural context of the mineralization at Golden Glove and will allow more efficient drill targeting.” said Roger Moss, President and CEO. “Drilling to date has been following up recent high-grade intersections of 20.07 g/t Au over 1m in Hole K-22-154 and 6.22 g/t Au over 4m in hole K-22-150 located approximately 160m south of the discovery outcrop. Given the high-grade nature of these veins we will certainly look to specifically target them in our ongoing drilling at Golden Glove.”
Sample ID
Sample type
Rock Type
Au (g/t)
853601*
Grab
Quartz Vein
479.51
853602*
Grab
Quartz Vein
81.49
853603*
Grab
Quartz Vein
114.72
853604*
Grab
Quartz Vein
34.90
853605
Grab
Quartz Vein
7.51
853606
Grab
Quartz Vein
12.25
* Sample contains visible gold. Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property.
All samples are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples were assayed by metallic screen/fire assay. The whole sample is crushed to -10mesh and pulverized to 95% -150mesh. The total sample is then weighed and screened through 150mesh. Both the +150mesh fraction and a 30g subsample of the -150mesh fraction are fire assayed for Au and a calculated weighted average of total Au in the sample is reported. The company routinely submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $25 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 169,189,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB and on the OTCQX under the symbol NKOSF.
Neither 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 contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Burlington, Ontario–(Newsfile Corp. – August 23, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is pleased to provide an update on its ongoing operations at its 100%-owned Washington Mine in Idaho. This mine is on patented lands.
Site work has commenced to prepare the property for rehabilitation and production. A local portable sawmill operator is on-site to prepare to mill timbers. A contractor has been scheduled to upgrade the access road and to establish site water, electricity and storage. Near-term surface work will focus on rock bolting, screening and shotcreting the historical portal face, as well as preparing timbers and insulation for mine entry support.
Contract terms have been negotiated with an underground mine contractor and, subject to completion of a federal agency filing and the approval of mine design by the Company’s mine engineer, underground rehabilitation is anticipated to begin in or about October. It is not possible at this time to provide a timetable for production as that largely depends upon the rehabilitation process. At some point in time, Mine Safety and Health Administration will carry out an inspection.
The Washington Mine first saw production in the late 1800’s with an average gold grade of one ounce per ton. It again produced gold in the 1930’s during which time the then-owner lacked the process capability needed to produce silver, so a decision was made to block out the silver mineralization with the intention of returning at a future date to extract it. To the best of SBMI’s knowledge, the blocked-out volume remains in situ. A historical report indicates the blocked-out volume contains an estimated 3 million ounces of silver with a grade of 30 to 90 ounces per ton and 15,000 ounces of gold at 0.3 ounces per ton. (Source, “Geological Evaluation”, Roger G. Stoker, P.G. and Ryne C. Stoker, Student Geologist, Energy Services Inc., December, 1981.)
Stoker also indicated the underground location of the “Berger Vein”, described as a “gold ore shoot 25 feet wide, 135 feet long, and unknown depth.” Average grades were given as 0.3 oz/ton gold with unknown silver content. Additional notes in Stoker suggest that the Berger Vein had been intersected in drifting at the 400-foot level.
The references above to data and observations derived from work not carried out by SBMI are of historical nature only and cannot be relied upon at this time. SBMI does not know the methods by which such work was carried out, or whether all or part of it was under the supervision of a Qualified Person, as that term is defined in NI43-101. SBMI refers to such data and observations to inform its knowledge of the area.
SBMI disclosed the results of part of its field program on December 9, 2021 (filed at SEDAR December 15, 2021). A reminder of those strong results is below:
Method
AUAG-GR30
AUAG-GR30
Element
Gold
Silver
Silver
Units
[g/t]
[g/t]
[oz/ton]
LDL*
0.14
5
WASH-ID-001
0.557
4350
127
WASH-ID-002
1.36
4780
139
WASH-ID-003
1.26
4740
138
WASH-ID-004
0.676
2030
59
WASH-ID-005
0.928
2580
75
WASH-ID-006
1.69
2480
73
WASH-ID-007
0.37
1298
41
WASH-ID-008
0.6
1107
35
WASH-ID-009
< 0.14
883
28
WASH-ID-010
4.61
3928
126
Based in part on the information from Stoker, and in part on the data above, and from its own other observations, SBMI took a bulk sample from the Washington Mine, the results of which were disclosed on January 18, 2022. That bulk sample returned 55.5 ounces silver per ton, within the historical parameters of 30 to 90 ounces silver per ton.
Further, the Company may have found the surface expression of the Berger Vein in its 2021 field season. As disclosed on December 9, 2021 soil geochemistry returned gold values up to 9 ppm in areas of shallow soil cover. The Company anticipates that future field work comprising of further soil geochemistry and hand trenching could lead to exposure of in-place gold mineralization.
Underground, historical plan maps depict a cross cut at the main portal level at about 200 feet lower in elevation. The Company believes the cross cut accessed the Berger Vein. SBMI intends to access this cross cut during rehabilitation efforts. Once safe passage through the cross cut is secured, SBMI anticipates systematic sampling, evaluation and potential underground drilling in the Berger Vein area.
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, British Columbia–(Newsfile Corp. – August 23, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from previously unsampled historic drill core at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Lake Gold Project”).
Goldshore’s team has retrieved historical core that remains on the Moss Lake Gold Project where the drill collars have been recovered and accurately surveyed. Prior operators selectively sampled core that fit with the model used at the time. This core is now being relogged and sampled by Goldshore. This presents an excellent, cost-effective opportunity for Goldshore to generate significant results without new drilling, particularly in those holes that coincide with Goldshore’s identified targets. This news release presents results from six such historical holes where sampling by prior operators was incomplete.
Highlights:
Sampling of unsampled sections of two historic drill holes at the QES Zone have increased the width and grade of gold mineralization over that previously reported. The expanded intercepts include:
104.2m @ 1.04 g/t Au from 422.0m in NS247, including
19.40m @ 2.66 g/t Au from 458.6m
This section includes the visible gold reported on April 19, 2022
The hole ended in mineralization
56.1m @ 0.42 g/t Au from 493.5m in NS248
Sampling has also identified a new southern parallel zone that was previously unrecognized, including:
9.30m @ 1.28 g/t Au from 244.6m depth, including
0.9m @ 10.95 g/t from 253.0m
0.9m @ 35.7 g/t Au from 271.65m and
78.45m @ 0.35 g/t Au from 331.55m in NS247
69.10m @ 0.49 g/t Au from 413.0m in NS248
Additional sampling of four drillholes assessing regional prospects confirmed initial results.
President and CEO Brett Richards stated: “All of the work we have conducted at Moss Lake, whether new drilling results or sampling and analysis of the historic drilling, all indicates that the extent of mineralization is far greater than the footprint of the historical resource. These results indicate yet another parallel zone of mineralization not previously identified and will provide new high quality drill targets in the future; as well as meaningful data when conducting the resource estimation.”
Technical Overview
Table 1 shows the significant intercepts. Table 2 and Figure 1 show the drill hole locations.
Figure 1: Drill plan showing the drill holes relative to the 2013 resource model and the new parallel zones
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Shaded intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body. The fact that cut and uncut assays are the same, shows that all samples assayed less than the 30 g/t Au top cut.
Table 2: Location of drill holes in this press release
HOLE
EAST
NORTH
RL
AZIMUTH
DIP
EOH
ML-02-006
670011
5379164
429
155
-45°
318.91m
ML-04-016
671016
5378230
429
156°
-45°
300m
ML-04-017
671039
5377982
429
336
-45°
132m
ML-04-018
671050
5377959
429
336
-45°
171m
NS247
670352
5379453
434
336°
-69°
550m
NS248
669958
5379129
429
336°
-65°
647m
Approximate collar coordinates in NAD 83, Zone 15N
Results have been received for six historical holes that were incompletely sampled in the past and have now been more completely sampled to fully assess the intersected mineralized zones. Two holes (NS247 and NS248) targeted the QES Zone and four holes (ML-02-006, ML-04-016, ML-04-017, and ML-04-018) tested regional prospects south of the Moss Lake Project.
Assays from new sampling at NS247 and NS248 have expanded the widths of the known mineralized intercepts and identified a new parallel zone to the south of QES. They show that gold mineralization at Moss Lake is wider than previously believed and contains additional higher-grade structures beyond that defined by historic drilling. Step back drilling of the QES Zone has begun to determine the extent of the new parallel zones south of the QES Zone.
The broad zone of 104.2m @ 1.04 g/t Au from 422.0m in NS247 compares to an historic interval of 104.2m @ 0.88 g/t Au if the unsampled intervals are assigned zero grade, which seems to be what previous geologists thought. Similarly, the interval 56.1m @ 0.42 g/t Au from 493.5m in NS248 compares to an historic interval of 56.1m @ 0.31 g/t Au.
The high-grade section of NS247(19.40m @ 2.66 g/t Au from 458.6m) includes a narrow quartz-pyrite-chalcopyrite vein zone with visible gold that was reported on April 19, 2022. Surprisingly, this interval returned only 0.3m @ 1.01 g/t Au from 546.8m highlighting the nuggetty nature of gold mineralization. The drill hole ended in gold mineralization suggesting that the mineralized zone is wider.
Infill sampling of ML-04-016 and ML-04-018 yielded minor increases to the width of historic intercepts. No additional mineralized zones were identified in any of the four holes.
Several additional holes have been identified as having unsampled intervals within mineralized drill core. Historical core archives are being reexamined to locate, identify, and recover drill core for further infill sampling.
Pete Flindell, VP Exploration for Goldshore, said “These drill results confirm our contention that previous explorers did not assess the full scale of gold mineralization at Moss Lake. As such, Moss Lake holds significant potential to be a larger gold system. Our assessment of historic drill core will continue in parallel with our 100,000-meter drill program.”
Analytical and QA/QC Procedures
All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).
In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.
About Goldshore
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an approximate 27% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.
About the Moss Lake Gold Project
The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims.
The Moss Lake Gold Project hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 3), the historically producing North Coldstream Mine (Table 4), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment (the “Moss Lake Historical Estimate“) was completed on the Moss Lake Gold Project in 2013 and published by Moss Lake Gold Mines Ltd. (“Moss Lake Gold Mines“)1,3. A historical mineral resource estimate (the “East Coldstream Historical Estimate“) was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc.2,3 In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome Gold Mines Ltd. (“Wesdome“), which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.
The East Coldstream Deposit is a shear-hosted disseminated-style gold deposit which locally outcrops at surface. It has been drilled over a 1.3 km length and to depths of 200 m with 138 holes completed between 1988 and 2017. The deposit remains largely open at depth and may have the potential for expansion along strike. Historic drill hole highlights from the East Coldstream Deposit include 4.86 g/t Au over 27.3 m in C-10-15.
The historically producing North Coldstream Mine is reported to have produced significant amounts of copper, gold and silver4 from mineralization with potential iron-oxide-copper-gold deposit style affinity. The exploration potential immediately surrounding the historic mining area is not currently well understood and historic data compilation is required.
The Hamlin Zone is a significant occurrence of copper and gold mineralization, and also of potential iron-oxide-copper-gold deposit style affinity. Between 2008 and 2011, Glencore tested Hamlin with 24 drill holes which successfully outlined a broad and intermittently mineralized zone over a strike length of 900 m. Historic drill hole highlights from the Hamlin Zone include 0.9 g/t Au and 0.35% Cu over 150.7 m in HAM-11-75.
The Moss Lake, East Coldstream and North Coldstream deposits sit on a mineral trend marked by a regionally significant deformation zone locally referred to as the Wawiag Fault Zone in the area of the Moss Lake Deposit. This deformation zone occurs over a length of approximately 20 km on the Moss Lake Gold Project and there is an area spanning approximately 7 km between the Moss Lake and East Coldstream deposits that is significantly underexplored.
Table 3: Historical Mineral Resources1,2,3
INDICATED
INFERRED
Deposit
Tonnes
Au g/t
Au oz
Tonnes
Au g/t
Au oz
Moss Lake Historical Estimate
Open Pit Potential
39,795,000
1.1
1,377,300
48,904,000
1.0
1,616,300
Underground Potential
–
–
–
1,461,100
2.9
135,400
Moss Lake Total
39,795,000
1.1
1,377,300
50,364,000
1.1
1,751,600
East Coldstream Historical Estimate
East Coldstream Total
3,516,700
0.85
96,400
30,533,000
0.78
763,276
Combined Total
43,311,700
1.08
1,473,700
80,897,000
0.98
2,514,876
Notes:
(1) Source: Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J. “Technical Report and Preliminary Economic Assessment for the Moss Lake Project”, prepared for Moss Lake Gold Mines Ltd. The qualified persons for the Moss Lake Historical Estimate are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the Moss Lake Historical Estimate is February 8, 2013. In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The Moss Lake Historical Estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts. Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500. In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade. The Moss Lake Historical Estimate is based on 352 diamond drill holes (90,978 m) drilled from 1983 and 2008. A fixed density of 2.78 g/cm3 was used. A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed. Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m. The Indicated category is defined by combining the blocks within the two main zones and various statistical criteria, such as average distance to composites, distance to closest composite, quantity of drill holes within the search area. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
(2) Source: McCracken, T. “Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario”, prepared for Foundation Resources Inc. and Alto Ventures Ltd. The East Coldstream Historical Estimate is based on a 0.4 g/t Au cut-off grade. The qualified persons for the East Coldstream Historical Estimate are Todd McCracken, P.Geo. (Tetratech Wardrop), and Jeff Wilson, Ph.D., P.Geo. (Tetratech Wardrop), and the effective date of the East Coldstream Historical Estimate is December 12, 2011. Resources are presented unconstrained, undiluted and in situ. The East Coldstream Historical Estimate includes 2 gold-bearing zones. A cut-off grade of 0.4 g/t Au was selected as the official resource cut-off grade. The East Coldstream Historical Estimate is based on 116 diamond drill holes drilled from 1986 to 2011. A fixed density of 2.78 g/cm3 was used. Capping was established at 5.89 g/t Au and 5.70 g/t Au for domains EC-1 and EC-2, respectively. This is supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Datamine Studio 3 version 3.20.5321.0. Recource categorization is based on spatial continuity based from the variography of the assays within the drillholes. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
(3) The reader is cautioned that the Moss Lake Historical Estimate East and the East Coldstream Historical Estimate (the “Historical Estimates“) are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. The Company has determined these historical resources are reliable, and relevant to be included here in that they demonstrate simply the mineral potential of the Moss Lake Gold Project. A qualified person has not done sufficient work to classify the Historical Estimates as current resources and Goldshore is not treating the Historical Estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the Historical Estimates can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category. The Historical Estimates relating to inferred mineral resources were calculated using prior mining industry standard definitions and practices for estimating mineral resource and mineral reserves. Such prior definitions and practices were utilized prior to the implementation of the current standards of the Canadian Institute of Mining for mineral resource estimation, and have a lower level of confidence.
Table 4: Reported Historical Production from the North Coldstream Deposit4
Deposit
Tonnes
Cu %
Au g/t
Ag
Cu lbs
Au oz
Ag oz
Historical Production
2,700,0000
1.89
0.56
5.59
102,000,000
44,000
440,000
Note::
(4) Source: Schlanka, R., 1969. Copper, Nickel, Lead and Zinc Deposits of Ontario, Mineral Resources Circular No. 12, Ontario Geological Survey, pp. 314-316.
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For More Information – Please Contact:
Brett A. Richards President, Chief Executive Officer and Director Goldshore Resources Inc.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.
The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Lion One (LIO-V) came out with a press release in early June that shot the shares from $1.04 to $1.67 in less than a week. Obviously the results were excellent. Most of the people who read it appreciated it for what it was. One of the clowns who posts on CEO.CA maintained that the company was only finding high-grade but narrow intercepts and didn’t believe it could be put into production.
So I posted a piece on June 7th and showed Mr. Doom and Gloom a map of Fiji showing the seven million ounces of production from the Vatukoula gold mine only forty km to the North East. The deposits might as well be identical. Same age, same grades and thickness, same type deposit.
The uptick didn’t last long. The shares came off their high and dropped to a low of $1.17 in early July before climbing a little. Gold shares seem to have lost their luster. Right now it really looks like everyone hates gold and gold shares.
That is wonderful news for investors.
But first I want to talk about something that I have been tempted to discuss in one or more of the interviews I have been doing lately. It doesn’t have anything to do with investing but it’s a lifestyle change I learned almost fifty years ago when I worked at Electronic Data Systems. That’s the company that made Ross Perot a billionaire.
EDS made Perot a billionaire within two weeks of the company going public in 1968. He was the first of the billionaires created by taking a company public. When Perot took EDS public only three people made over $1 million. Perot, his secretary and his number 2 man. The company that created the largest number of millionaires was Microsoft. Anyone working there for over five years had picked up enough options by 2000 to be a millionaire. So Perot made the least number of rich employees and Bill Gates made the most.
Perot was a squid; he attended the Naval Academy and served as a line officer in the Navy before leaving the service and going to work with IBM in 1957 selling mainframe computers. In 1962 he formed EDS that made his fortune for him. Perot actually never operated a computer and never wrote a line of code. But he did understand the potential of the machine.
EDS hired me in 1971. We all went through training in Dallas before launching off to whatever contracts EDS had providing computer services. Perot came up with a lot of interesting approaches to life.
The most valuable to me was the concept of how to get a lot of things done. A lot of people who actually believe they are organized will make a list of things they want to do and figure out when it will be convenient to do them.
Don’t ever do things when they are convenient. You will never accomplish very much.
Do things when they are inconvenient.
And the more inconvenient the better. That sounds counter intuitive much like investing in stocks when people hate them but it actually works in real life in both cases.
You see, no matter what you want to do, a lot of the time, in fact most of the time; it’s just inconvenient to do something. There are a lot more inconvenient times to do things than convenient times. So you will accomplish a lot more by doing them when they are a pain in the ass to do. They might never become convenient.
Lion One announced another set of great assays at their Tuvatu Gold mine in Fiji on the 12th of August. Since then the shares have dropped 16%. That’s simply nuts or the assays did nothing more than create a liquidity event. Tuvatu is 100% owned with no NSR.
Lion One came out with a 43-101 back in June of 2014 showing slightly over 910,000 ounces of gold at a 1.0-gram cutoff. They have done a lot of drilling and intercepts since. Remember their neighbor 40 km away has already produced seven million ounces of gold and has another four million identified.
But rich projects require a lot of money and a lot of time to advance. Lion One is drilling for expansion of their resource at the same time they are doing mine planning for their mill scheduled to be into production in Q4 of 2023.
Lion One is my biggest single position. I have an average cost of $1.18 and as of today it trades at $1.16. But I only know half a dozen stocks that have the market cap potential of Lion One and it is by far the cheapest in relative terms. The company has excellent management and technical team. They have their own lab on site supporting the six drill rigs turning.
Lion One is an advertiser. I am a shareholder and just as biased as I can be so do your own due diligence.
Lion One Metals LIO-V $1.16 (Aug 18, 2022) LOMLF OTCQX 156.4 million shares Lion One website
Plan View of the Guayabales Project Highlighting the Olympus Target
Figure 2
Plan View of the Olympus Target Outlining the Phase II Drilling Location (red circle) and Highlighting Previously Announced Drilling and Channel Sampling Assay Results
Figure 3
Photo of the Underground Drill Chamber and Rig
TORONTO, Aug. 17, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that drilling has recommenced at the Olympus target (“Olympus”), one of eight newly generated porphyry related targets at the Guayabales project, located in Caldas, Colombia. The phase II drill program, which will be executed exclusively from underground chambers, will follow up on the Phase I program which yielded an important grassroots discovery for the Company highlighted byhole OLCC-3 which averaged 301.9 metres @ 1.11 g/t AuEq (see press release dated March 15, 2022). There are currently four rigs operating at the project as part of the Company’s fully financed minimum 20,000 metre drill program for 2022 with one rig drilling at Olympus and three rigs following up on the recent significant discovery at the Apollo target highlighted by hole APC-2 which averaged 207.15 metres @ 2.68 g/t AuEq (see press release dated August 10, 2022).
Highlights (See Figures 1-3)
Olympus is a large-scale target area measuring up to 1,400 metres north-south by 900 metres east-west and hosts over 50 ancestral mines with over 25 veins mapped from available exposures. The Phase I drill program was focused on the northern portion of this target area and intersected multiple broad zones of mineralization beginning near surface highlighted by:
301.9 metres @ 1.11 g/t AuEq (OLCC-3) and
216.7 metres @ 1.08 g/t AuEq (OLCC-4) (see press release dated May 9, 2022)
The phase II drill program, which is now underway, will step out up to 500 metres along strike to the southwest from drill hole OLCC-3 into an area where most of the historical and current ancestral mines are located. It is within this southwest area that the Company has reported multiple high-grade chip channel samples taken from underground working faces with grades as high as 485 g/t gold and 2,359 g/t silver (see press releases dated December 1, 2021, and July 19, 2022). Additionally, systematic channel sampling from a crosscut developed within an ancestral mine orthogonal to the strike of the main mineralized system yielded the following assay result:
182.45 metres @ 1.15 g/t gold equivalent (true horizontal width) (see press release dated July 19, 2022)
The phase II underground drill program is expected to ramp up in scale for the balance of the year as new drill chambers are constructed and additional rigs are added.
Even though the target is at an early stage of exploration, the Company believes that the decision to construct chambers and drill from underground for its phase II program is an innovative approach to work with the ancestral miners operating at the Olympus target for the following reasons:
Working underground with the ancestral miners will increase cooperation amongst the stakeholders resulting in ever increasing trust and transparency.
The Company will promote the best health and safety practices and mine-planning and in return the Company gains an understanding of the challenges the ancestral miners face and underground access to new working faces and veins as they are discovered.
Drilling from underground will eliminate the challenges associated with lack of drilling angles from surface due to the steep topography resulting in an accelerated timeline to evaluate and advance the Olympus target.
Mineralization at Olympus is characterized by high-grade, late-stage carbonate base metal (“CBM”) sheeted veins impregnating either porphyry diorite host rock or schist host rock, with the former offering potential to produce a bulk tonnage mineralized systems and the latter offering potential to produce high-grade vein systems.
“We are excited to have initiated the phase II drill program at Olympus as we are now targeting what the Company interprets to be the heart of the mineralized system,” commented Ari Sussman, Executive Chairman. “Olympus offers potential for both bulk tonnage and high-grade vein mineralization and we are looking forward to reporting assay results from the new program in due course.”
Figure 1: Plan View of the Guayabales Project Highlighting the Olympus Target
Figure 2: Plan View of the Olympus Target Outlining the Phase II Drilling Location (red circle) and Highlighting Previously Announced Drilling and Channel Sampling Assay Results
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders.
The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program at both the Guayabales and San Antonio projects, a total of eleven major targets have been identified. The Company has made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and recently, at the Apollo target, 207.15 metres at 2.68 g/t AuEq. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Contact Information
Collective Mining Ltd. Steve Gold, Vice President, Corporate Development and Investor Relations Tel. (416) 648-4065
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
VANCOUVER, British Columbia, Aug. 16, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) is pleased to announce that it has signed a letter of intent to option a 90% ownership interest in the Indian Mountain Lake Volcanic Massive Sulphide project, NT, Canada. The Indian Mountain Lake Project is the Company’s first district scale land package, representing approximately 30,000 acres of greenstone belt. The project has a historical Zinc-Lead-Silver-Copper geological resource.
Indian Mountain Lake VMS Project The Indian Mountain Lake VMS Project has had exploration dating back to the 1940s and has a historical resource spread across four zones on the project. The BB Zone and Kennedy Lake Zone have a combined historic resource of 1,400,000 tons grading 10% combined zinc and lead with 3.5 OPT (ounces per ton) of silver*. Approximately 900 metres west of the BB Zone, the Kennedy Lake West Zone has a historic resource of 610,000 tons grading 1.15% copper*. About 8 km southeast of the BB Zone, the Susu Lake Zone, has a historical resource consisting of 142,500 tons grading 0.95% copper*.
The property is located approximately 195 km east-northeast of Yellowknife, NT, off the eastern arm of Great Slave Lake. Seasonal access relies upon fixed or rotor wing support. A right of way was cleared to the project from Thompson Landing in the 1970’s. If this right of way were to be brushed out it would provide barge access at Thompson Landing, from Yellowknife, with ground transportation, considerably lowering any logistical costs. Future Government of Canada federally funded hydro-energy infrastructure could come close to the project if the Taltson Hydro Dam expansion proceeds through the eastern arm of Great Slave Lake into Yellowknife. At the southwest-end of Great Slave Lake, Osisko Metals is gearing up to reopen the Pine Point Zinc-Lead Mine. At nearby Hay River, NT, there is a rail line to the Tech Resources Zinc Refinery in Trial, BC.
*These resources are historic in nature. Further drilling is needed to bring them up to CIM Definition Standards. The historic data has not been verified by Rover. The historic information is provided in the 2103 Assessment Report for Indian Mountain Lake which is in public record with the Government of the Northwest Territories.
Technical information has been approved by Gary Vivian, M.Sc., P.Geo., QP for the purposes of NI 43-101.
Judson Culter, CEO at Rover Metals, states, “We believe the Indian Mountain Lake VMS Project has the potential to be a Tier 1 Zinc and Copper project. The historical resource represents only 3% of the total land package. The blue sky on the remaining 97% of the greenstone belt is: (1) for additional zinc resources and; (2) a significant new copper discovery. Historical workings also document the presence of copper-gold skarn systems. The historic zones are open along strike and below a vertical depth of 150 meters.
In Canada, Zinc and Copper are on the Federal Government’s Critical Minerals List, and part of the Canadian Government’s Critical Minerals Strategy. As a result, the project qualifies for the 30% critical mineral flow-through investor tax credit.
Management of the Company also remain committed to the further development of its gold projects, and hope to be able to provide a news release about the Cabin Gold Project in the coming weeks.”
An updating release will be provided once the Company has executed its Definitive Option Agreement.
New Website In connection with the Company expanding into critical minerals, the Company will be launching a new website in the coming days featuring the Indian Mountain Lake VMS Project. Investors are encouraged to visit our website to review the Company’s new investor materials, as the become available.
About Rover Metals Rover is now both a critical minerals exploration company as well as a precious metals exploration company, specialized in North American (Canada and U.S.) mineral resource development. Five of the Company’s six resource projects are located near to the city of Yellowknife, 60th parallel, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS “Judson Culter” Chief Executive Officer and Director
For further information, please contact: Email: info@rovermetals.com Phone: +1 (778) 754-2617
Statement Regarding Forward-Looking Information 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 Rover’s actual results, performance or achievements, or developments in the industry 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. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
VANCOUVER, BC, Aug. 16, 2022 /CNW/ – Bravo Mining Corp. (TSX.V: BRVO), (“Bravo” or the “Company“) today announced high grade nickel and copper assay results from the previously released diamond drill hole DDH22LU047 at its Luanga platinum group metals (palladium + platinum + rhodium) + gold + nickel (PGM+Au+Ni) project (“Luanga“), located in the Carajás Mineral Province, state of Pará, Brazil. The high-grade intercept of 11.04m grading 2.04% nickel and 1.23% copper occurs in massive and semi-massive sulphides – a style of mineralization not previously observed at Luanga, increasing the target type potential at the project. Palladium, platinum and rhodium assay results are pending.
Highlights:
11.04m @ 2.04% nickel and 1.23% copper, from 131.11m
Contractors arriving onsite this week to commence Downhole Transient Electromagnetic (“DHTEM”) surveying at Luanga, starting with DDH22LU047
Palladium, platinum and rhodium results are pending
Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)
“As announced in Bravo’s August 3rd, 2022 news release, high-grade nickel-copper mineralization at these concentrations, has not been observed previously at Luanga and could represent a new type of mineralisation that occurs within the Luanga PGM deposit, or a potential indication of feeder zones,” said Luis Azevedo, Chairman and CEO of Bravo. “DHTEM surveying will commence shortly, which should allow us to vector in on the continuation of high-grade nickel/copper massive sulphides, guiding follow-up drilling.”
Luanga Drill Program
The Phase 1 diamond drill program continues as planned at Luanga. With six drill rigs on site, drilling is now in progress in various locations along the entire 7km strike length of the known mineralization, including to the north where the latest and final surface access agreements were recently signed (see August 2, 2022 news release).
Phase 1 drilling is designed to confirm, infill and step out from the previously defined PGM+Au+Ni mineralization in order to increase confidence in the geological model and provide the basis for future mineral resource estimates. Additionally, drilling will target potential extensions to the mineralization at depth, as well as exploration targets at Luanga.
Complete Table of Assay Results
HOLE-ID
From(m)
To(m)
Thickness(m)
Ni(%)
Cu(%)
Pd(g/t)
Pt(g/t)
Rh(g/t)
Au(g/t)
TYPE
DDH22LU047
131.11
142.15
11.04
2.03
1.23
Pending
FR
Including
132.26
136.80
4.54
2.77
0.54
Pending
FR
Including
136.80
137.60
0.80
0.98
10.82
Pending
FR
All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole
Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~80 to 90% of true thickness.
FR = Fresh Rock.
DDH22LU047: High grade massive sulphide nickel mineralization at 136.0m* (CNW Group/Bravo Mining Corp.)
DDH22LU047: High grade breccia semi–massive sulphide nickel-copper mineralization, from at 137.0m* (CNW Group/Bravo Mining Corp.)
DDH22LU047: Drill core showing massive and brecciated semi-massive sulphides, from 131.1m to 142.1m* * Depths and widths are downhole (CNW Group/Bravo Mining Corp.)
About Bravo Mining Corp.
Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM + Au + Ni Project in the world-class Carajás Mineral Province of Brazil.
The Luanga Project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was previously de-forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance activities includes replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.
Bravo was founded by a management team and board with extensive Brazilian and PGM exploration, permitting, project financing, construction and operating experience. This includes Luis Azevedo, Executive Chairman & CEO; Simon Mottram, President; Alex Penha, EVP Corporate Development; and Independent Directors, Dr. Nicole Adshead-Bell (Lead Director), Stuart Comline, Tony Polglase and Stephen Quin.
Technical Disclosure
Technical information in this news release has been reviewed and approved by Simon Mottram, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified person”, as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“). Mr. Mottram has verified the technical data and opinions contained in this news release.
Forward Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “confirm”, “designed”, “increase confidence”, “interpreted”, “pending”, and other similar words, phrases or statements that certain events or conditions “should”, or “will” occur. In particular, this news release contains forward-looking information pertaining to the Company’s ongoing re-assay and drill programs and the results thereof; the expected arrival of geophysical equipment and the results of such surveys; the potential for the definition o new styles of mineralization and extensions to depth and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm the interpreted mineralization contains significant values of nickel, copper and also contain PGMs and Au; final drill and assay results will be in line with management’s expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Schedule 1: Drill Hole Collar Details
HOLE-ID
Company
East (m)
North (m)
RL (m)
Datum
Depth(m)
Azimuth
Dip
DDH22LU047
Bravo
659899.99
9342475.05
275.18
SIRGAS2000 UTM22S
170.05
090
-60
Schedule 2: Assay Methodologies and QAQC
Samples follow a chain of custody between collection, processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in the analytical guides. IN this case a split is collected by Bravo staff and securely delivered to the Intertek laboratory in Parauapebas where it was assayed by high priority for ore grade Ni and Cu.
Quality Assurance and Quality Control (“QAQC“) is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.
Bravo ALS
Preparation
Method
Method
Method
Method
For All Elements
Pt, Pd, Au
Rh
Ni-Sulphide
Trace Elements
PREP-31B
PGM-ICP27
Rh-MS25
Ni-ICP05
ME-ICP61
Bravo Intertek
Method
Ni, Cu Sulphide
Ni-ICP05
Location of Bravo Drilling Reported in this Document (CNW Group/Bravo Mining Corp.)
Burlington, Ontario–(Newsfile Corp. – August 15, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) is very pleased to announce it has closed on its debt financing (the “Financing”), previously announced on August 11, 2022.
The Financing is with SBMI’s largest institutional shareholder (the “Lender”), pursuant to which SBMI has borrowed CDN$650,000 (six hundred and fifty thousand dollars) from the Lender for an 18-month term. The Financing provides for an 8% annual interest rate and a conversion feature, whereby upon conversion the loan may convert into 2,166,667 units (each, a “Unit”) at an effective price of $0.30 per Unit. This is at a premium to the current market price. Each Unit is comprised of one common share and one common share purchase warrant exercisable at $0.35 for a four-year term.
“Management and the board have been working on this for a while,” said SBMI’s CEO, A. John Carter. “We believe this to be very attractive for the lender and friendly to our shareholders.”
SBMI also reports that Sepro Mineral Systems Corp., who assisted in the design of parts of SBMI’s mill in Arizona, is currently onsite and is assisting the Company in fine-tuning various components of the mill. The ramp-up using lower grade material continues.
Silver coming off the shaker table; picture taken Aug 15/22
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.
