Category: Precious Metals

Lion One Confirms High-Grade Gold Feeder Zone at Tuvatu, Fiji with TUDDH-601 Returning 54.9m of 12.22 g/t Au Including 20.10m of 23.03 g/t Au

Post author By admin
Post date August 15, 2022

North Vancouver, British Columbia–(Newsfile Corp. – August 15, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from ongoing follow-up drilling to the previously reported high-grade intercept of 75.90m of 20.86 g/t Au in TUG-141 (June 6, 2022 NR), at its Tuvatu Alkaline Gold Project in Fiji.

Results for the first two diamond drill holes carried out as follow-up drilling from the significant new feeder zone mineralization in TUG-141 and reported on June 6, 2022 have been received and compiled. TUDDH-601 was drilled from surface at -85° and was designed to further test the high-grade zone encountered in TUG-141, and TUG-145 was drilled from the same underground collar location as TUG-141, collared at 3° steeper, and designed to test directly below the TUG-141 drill trace (Figure 1). TUG-145 drifted to the west and lifted more than expected.

Highlight intercepts from holes TUDDH-601 and TUG-145 include:

TUDDH-601

26.20 g/t Au over 1.20m from 165.7-166.9m;
115.42 g/t Au over 1.80m from 252.4-254.2m;
12.22 g/t Au over 54.90m from 576.1-631.0m, including
– 23.02 g/t Au over 20.10m from 576.1-596.2m, which includes 29.24 g/t Au over 15.6m;
– 8.09 g/t Au over 20.70m from 602.5-623.2m, which includes 9.25 g/t Au over 7.80m and 15.03 g/t Au over 5.40m

TUG-145

6.72 g/t Au over 15.30m from 110.4-125.7m, including
– 41.16 g/t Au over 1.20m from 117.3-118.5m;
20.38 g/t Au over 0.90m from 278.7-279.6m;
28.68 g/t Au over 1.80m from 305.4-307.2m;
4.69 g/t Au over 10.20m from 357.9-368.1m, including
– 9.58 g/t Au over 1.20m from 358.8-360.0m,
– 6.99 g/t Au over 1.20m 362.1-363.3m, and
– 8.41 g/t Au over 1.50m from 363.9-365.4m
17.80 g/t Au over 0.30m from 405.9-406.2m;
8.73 g/t Au over 6.00m from 424.2-430.2, including
– 31.94 g/t Au over 1.20m from 426.3-427.5m
18.15 g/t Au over 0.60m from 598.5-599.1m

TUDDH-601 drilled from surface, was a near-vertical drill test of the high-grade gold zone encountered by TUG-141. TUDDH-601 is estimated to have drilled to within <2m of TUG-141. This test indicates that high-grade mineralization corresponding to that in TUG-141 is indeed hosted primarily by altered andesite rather than adjacent monzonite. High-grade mineralization, 54.9m of 12.22 g/t Au, was first intersected at a downhole depth of 576.1m continuing virtually uninterrupted to a downhole depth of 631.0m (Figure 2). Only one low-grade interval, hosted by monzonite and measuring 6.3m long was intersected. Above this low-grade interval, 23.02 g/t Au over 20.1m was encountered including 29.24 g/t Au over 15.60m, and below, 8.09 g/t Au over 20.7m, including 15.03 g/t Au over 5.40m and 9.25 g/t Au over 7.80m, respectively (Figure 3).

TUG-145 represented an inclined hole 3° steeper than TUG-141, drilled from the same underground collar location (Table 2 below). The hole drifted west and lifted such that the effective distance between TUG-141 and TUG-145 was approximately 21m at the 600m depth mark, with TUG-145 west of TUG-141. While TUG-141 drilled out of the less favourable monzonite and into the favourable andesite at approximately 390m depth, TUG-145 remained in monzonite until a depth of approximately 600m, indicating a southward shift of this lithological contact at this location, as illustrated schematically in Figure 4. It is thought that the monzonite to andesite contact recorded by TUG-141, is shifted south along a N-S structure, likely UR1, and that the high-grade continuous mineralization recorded by TUG-141 is largely focussed on the andesite side (east side) of this contact. Therefore, Lion One believes that the lithological contact between monzonite and andesite forms a primary control on high-grade mineralization at this location, and that the projection of this contact to depth as well as along strike, represents a first-order target for further follow-up drilling.

The next two planned follow up holes to TUG-141 are shown on Figure 5 below. One hole from surface, already underway as TUDDH-608, was collared at a planned azimuth of N089° and dip of -65°, targeting the high-grade intercept in TUG-141, and a second hole will collar from underground, approximately 180m further south along the decline from the TUG-141 and 145 collars, and target the same high-grade intercept at a planned azimuth of N139° and dip of -66°. The combination of these two holes should provide good information on the potential width and possible down plunge extent of the TUG-141/TUDDH-601 high-grade zone, which should allow for a realistic estimate of the volume, and hence contained Au ounces, in this zone. Additional follow-up holes are being planned as well.

Lion One technical advisor Quinton Hennigh stated, “As we drill more, the geologic setting of this important feeder zone is coming into clarity. It occurs at a major structural intersection where the north-south-trending UR1 & 2 lodes meet the northeast-trending UR4 & 5 lodes. Importantly, high-grade mineralization appears to be focussed within andesite host rocks just outboard from the contact with less favourable monzonite. With this understanding, we believe that further high-grade can be pursued along this contact at depth. The team is currently lining up more holes to test this extension.”

Lion One CEO Walter Berukoff further stated, “The spectacular discovery previously announced as the result of drilling hole TUG-141 has been confirmed by follow-up drilling in hole TUDDH-601. The positive confirmation of the longest high-grade intercept yet recorded at Tuvatu gives us further confidence that we are just now beginning to unlock the true potential of the 500 Zone high-grade feeder. The persistent success of our systematic drilling programs at Tuvatu underscores the significance of Tuvatu as a potentially multi-million ounce, world-class high-grade Au deposit.”

Figure 1. Image from Leapfrog software showing the modeled lodes representing the Tuvatu resource in semi-transparent gray with the traces of drill holes TUG-141, TUG-145 drilled from the same location along the exploration decline, and TUDDH-601 drilled at a dip of -85° from surface. Lower image overlays the mineralized intervals as colored discs that reflect grade (see Figure 3 caption for grade scale).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/133850_lionone_fig1.png

Figure 2. A) TUDDH-601 at 579.7m showing pervasively altered andesite grading 142.33 g/t Au; B) close-up of photo A; C) TUDDH-601 at 580.0m grading 108.99 g/t Au; D) close-up of photo C.

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https://images.newsfilecorp.com/files/2178/133850_lionone_fig2.png

Figure 2 contd. E) TUDDH-601 at 580.2m qtz-py hydrothermal bx vein grading 140.99 g/t Au; F) close-up of photo A; G) TUDDH-601 at 583.5m showing hydrofractured qtz-py vein grading 4.73 g/t Au; H) TUDDH-601 at 593.9m showing coarse visible gold in qtz-py veining grading 230.37 g/t Au.

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https://images.newsfilecorp.com/files/2178/133850_lionone_fig2cont.png

Figure 2 contd. I) TUDDH-601 at 592.2m showing very fine py-VG veins in pervasively altered andesite grading 33.77 g/t Au; J) close-up of photo I; K) TUDDH-601 at 609.0m qtz-py-roscoelite vein grading 10.49 g/t Au; L) TUDDH-601 at 610.8m qtz-py vein grading 20.31 g/t Au.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/133850_lionone_fig2cont2.png

Figure 2 contd. M) TUDDH-601 monzonite-andesite contact at 617.0m grading 5.48 g/t Au; N) TUDDH-601 at 617.8m qtz-py vein in bleached andesite grading 11.67 g/t Au; O) TUDDH-601 at 621.5m qtz-py vein in bleached andesite grading 2.54 g/t Au; P) TUDDH-601 at 628.3m qtz-py vein in sercitized andesite grading 20.14 g/t Au.

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https://images.newsfilecorp.com/files/2178/133850_lionone_fig2cont3.png

Figure 3. Vertical section looking West of the mineralized intervals in TUG-141 and TUDDH-601 that were drilled in essentially the same plane. Grades in ppm Au shown as colored discs are as follows: 0.1-0.2, blue; 0.2-0.3, light blue; 0.3-0.5, green; 0.5-1.0, yellow; 1-3, orange; 3-10, red; >10, fuschia.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/133850_1ce6c2b80467589e_063full.jpg

Figure 4. Schematic diagram of a horizontal plan at approximately RL= -260m illustrating the interpreted interplay between mineralized lodes and lithologic contact between monzonite (pink) and andesite (green), in the area of the TUG-141 high-grade discovery. The NE-trending monzonite-andesite contact is shifted to the south along UR1 at the location of the mineralization intersected by drill holes TUG-141 and TUDDH-601. Lodes UR1-UR2 pair appears to merge together at depth, with the NS-oriented lodes intersected by the NE-SW UR4 lode.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/133850_1ce6c2b80467589e_064full.jpg

Figure 5. Figure looking North and down 45° showing the next two planned drill holes (yellow) testing the high-grade zone discovery of TUG-141. Planned hole 1 from surface which has started drilling as TUDDH-608 will test the width of the zone; planned hole 2 from the underground decline is scheduled to begin drilling soon and will test for possible down plunge extent.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/133850_1ce6c2b80467589e_065full.jpg

Table 1: Drilling intervals returning >0.5 g/t Au (intervals > 3.0 g/t Au cutoff are shown in red, and intervals > 9.0 g/t Au or longer than 1.2m are bolded).

Hole ID	From (m)	To (m)	Interval (m)	Grade (g/t Au)
TUDDH-601	165.7	166.9	1.2	26.20
Incl.	165.7	166.3	0.6	13.38
Incl.	166.3	166.9	0.6	39.01
	168.1	171.7	3.6	1.00
	190.3	190.6	0.3	4.21
	252.4	254.2	1.8	115.42
Incl.	252.4	252.7	0.3	26.29
Incl.	252.7	253.3	0.6	159.98
	284.8	286.3	1.5	2.37
	362.8	363.4	0.6	1.61
	474.1	474.4	0.6	7.29
Incl.	474.1	474.4	0.3	5.88
Incl.	474.4	474.7	0.3	8.69
	569.8	570.4	0.6	1.49
	576.1	596.2	20.1	23.02
Incl.	579.4	579.7	0.3	142.60
Incl.	579.7	580.0	0.3	109.00
Incl.	580.0	580.3	0.3	140.90
Incl.	580.3	580.6	0.3	263.40
Incl.	580.6	580.9	0.3	74.33
Incl.	580.9	581.2	0.3	25.89
Incl.	581.8	582.4	0.6	18.52
Incl.	583.9	584.2	0.3	5.03
Incl.	585.7	586.3	0.6	9.59
Incl.	586.3	586.6	0.3	9.43
Incl.	586.6	586.9	0.3	15.49
Incl.	586.9	587.2	0.3	18.06
Incl.	587.2	587.8	0.6	5.35
Incl.	588.1	588.7	0.6	39.23
Incl.	588.7	589.0	0.3	7.13
Incl.	589.0	589.6	0.6	26.15
Incl.	591.4	592.0	0.6	10.80
Incl.	592.0	592.6	0.6	33.77
Incl.	592.6	593.2	0.6	10.94
Incl.	593.2	593.5	0.3	28.67
Incl.	593.5	593.8	0.3	32.64
Incl.	593.8	594.1	0.3	230.40
Incl.	594.4	594.7	0.3	18.26
Incl.	594.7	595.0	0.3	50.32
	598.0	600.7	2.7	0.50
	602.5	623.2	20.7	8.09
Incl.	603.1	603.7	0.6	21.52
Incl.	603.7	604.3	0.6	9.40
Incl.	606.1	606.7	0.6	20.45
Incl.	606.7	607.3	0.6	10.48
Incl.	607.3	607.9	0.6	19.67
Incl.	608.5	608.8	0.3	20.64
Incl.	608.8	609.4	0.6	10.49
Incl.	609.4	609.7	0.3	5.74
Incl.	610.6	610.9	0.3	20.31
Incl.	612.7	613.0	0.3	19.61
Incl.	613.0	613.3	0.3	120.91
Incl.	613.6	613.9	0.3	7.67
Incl.	613.9	614.2	0.3	12.69
Incl.	614.2	614.8	0.6	12.29
Incl.	615.1	615.7	0.6	11.67
Incl.	615.7	616.3	0.6	9.65
Incl.	616.9	617.5	0.6	5.48
Incl.	617.5	618.1	0.6	11.67
Incl.	620.8	621.1	0.3	5.14
	625.9	631.0	5.1	8.37
Incl.	626.8	627.1	0.3	10.01
Incl.	627.7	628.3	0.6	20.14
Incl.	629.5	629.8	0.3	18.01
Incl.	630.1	630.7	0.6	24.08
	632.2	632.5	0.3	0.62
	639.1	640.6	1.5	0.58
	842	842.3	0.3	0.50

TUG-145	110.4	125.7	15.3	6.72
Incl.	110.4	110.7	0.3	18.77
Incl.	110.7	111.0	0.3	6.76
Incl.	111.9	112.2	0.3	6.30
Incl.	112.2	112.5	0.3	11.30
Incl.	115.5	115.8	0.3	6.91
Incl.	115.8	116.1	0.3	6.36
Incl.	117.3	117.6	0.3	40.73
Incl.	117.6	117.9	0.3	89.51
Incl.	117.9	118.2	0.3	9.80
Incl.	118.2	118.5	0.3	28.45
Incl.	120.3	120.6	0.3	7.77
Incl.	120.6	120.9	0.3	5.01
Incl.	120.9	121.2	0.3	8.62
Incl.	121.2	121.5	0.3	5.17
Incl.	121.5	121.8	0.3	13.73
Incl.	125.1	125.4	0.3	10.43
	237.6	239.1	1.5	1.36
	262.8	263.4	0.6	3.31
Incl.	262.8	263.4	0.3	5.01
	278.7	279.6	0.9	20.38
Incl.	278.7	279.0	0.3	24.16
Incl.	279.0	279.3	0.3	35.33
	305.4	307.2	1.8	28.68
Incl.	305.4	305.7	0.3	150.76
Incl.	305.7	306.0	0.3	11.51
	357.9	368.1	10.2	4.69
Incl.	358.8	359.1	0.3	6.25
Incl.	359.1	359.4	0.3	19.46
Incl.	359.4	359.7	0.3	9.21
Incl.	360.6	360.9	0.3	5.42
Incl.	361.8	362.1	0.3	5.75
Incl.	362.1	362.4	0.3	9.15
Incl.	362.4	362.7	0.3	9.83
Incl.	363.0	363.3	0.3	7.28
Incl.	363.9	364.2	0.3	14.47
Incl.	365.1	365.4	0.3	22.39
Incl.	366.6	366.9	0.3	6.03
Incl.	367.2	367.5	0.3	11.42
	373.5	374.1	0.6	0.57
	375.3	376.8	1.5	0.83
	378.6	378.9	0.3	2.05
	380.4	381.3	0.9	1.53
	387.9	388.5	0.6	1.30
	405.9	406.2	0.3	17.8
	424.2	430.2	6.0	8.73
Incl.	424.5	424.8	0.3	5.83
Incl.	425.7	426.0	0.3	8.23
Incl.	426.0	426.3	0.3	5.26
Incl.	426.3	426.6	0.3	10.37
Incl.	426.6	426.9	0.3	34.48
Incl.	426.9	427.2	0.3	76.12
Incl.	427.2	427.5	0.3	6.81
Incl.	429.9	430.2	0.3	11.61
	452.7	453.0	0.3	1.08
	598.5	599.1	0.6	18.15
Incl.	598.5	598.8	0.3	33.68
	600.6	600.9	0.3	0.91

Table 2: Survey details of diamond drill holes referenced in this release

Hole No	Coordinates (Fiji map grid)	RL	final depth	dip	azimuth
	N	E		m		(TN)
TUDDH-601	3920444	1876508	347.9	878.9	-85	061
TUG-141	3920759	1876459	139.2	675.0	-55	162
TUG-145	3920759	1876459	139.1	692.1	-58	161
TUDDH-608	3920472	1876281	286.4	800 planned	-65	089
planned hole 2	3920582	1876435	118.0	500 planned	-66	139

Qualified Person

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analysed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analysed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. For samples with multiple fire assay runs, the average of duplicate runs is presented. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analysed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses for 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited

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

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133850

Tags #JuniorMining, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #Tuvatu, #WalterBerukoff, LIO

Energy Junior Mining Precious Metals Silver Hammer

Silver Hammer Reports on Drilling Progress at the Silver Strand Project in Idaho

Post author By admin
Post date August 15, 2022

Figure 1

Planned Phase II Drilling at Silver Strand

VANCOUVER, British Columbia, Aug. 15, 2022 (GLOBE NEWSWIRE) — Silver Hammer Mining Corp. (CSE: HAMR; OTCQB: HAMRF) (the “Company” or “Silver Hammer”) is pleased to announce that the first drillhole of an 11-hole Phase II diamond drill program (“Phase II Drill Program”) has been completed at its past-producing Silver Strand Project in Idaho.

The Phase II Drill Program, which is utilizing the Company’s established underground drilling station, is focused on expanding known silver-gold mineralization further down-dip, while also testing the potential for additional mineralized chutes (see Figure 1). The Company has generated priority targets based on a drone supported magnetic survey, Phase I drilling results, and the integration of historical drilling data acquired from previous operators of the Silver Strand Project (see Jan 26, 2022 news release).

“We are excited to return to our flagship project and move forward with our Phase II Drill Program at Silver Strand. We have drillholes designed to test up to three times as deep as our previous phase of drilling and a series of other holes that will test the system laterally with the aim of discovering parallel chutes to the southeast of the main mine trend,” stated President & CEO Morgan Lekstrom. “We believe the potential for making additional discoveries at Silver Strand is excellent and finding new high-grade zones of gold-silver mineralization would demonstrate the large-scale potential we think is possible here.”

NISS, the Company’s drilling contractor, has begun drilling and successfully finished the first hole. Approximately 1,100 meters of drilling is currently planned with ability to expand the program depending on core observations and initial assay results. Silver Hammer continues to use the Company’s underground drilling station to deliver much better ROI per metre drilled. The Phase II Drill Program is expected to last approximately seven weeks, with assay results to follow during Q4/2022.

Qualified Person

Technical aspects of this press release have been reviewed and approved by Philip Mulholland, a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists, a contractor of the Company and the designated Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About Silver Hammer Mining Corp.

Silver Hammer Mining Corp. is a junior resource company advancing the flagship past-producing Silver Strand Mine in the Coeur d’Alene Mining District in Idaho, USA, as well both the Eliza Silver Project and the Silverton Silver Mine in one of the world’s most prolific mining jurisdictions in Nevada and the Lacy Gold Project in British Columbia, Canada. Silver Hammer’s primary focus is defining and developing silver deposits near past-producing mines that have not yet been adequately tested. The Company’s portfolio also provides exposure to copper and gold discoveries.

Disclaimer note: Mineralization hosted on adjacent and/or nearby properties is not necessarily indicative of mineralization hosted on the Company’s projects.

On Behalf of the Board of Silver Hammer Mining Corp.
Morgan Lekstrom, President and CEO
Corporate Office: 551 Howe Street, Vancouver, British Columbia V6C 2C2, Canada

For investor relations inquiries, contact:
Kristina Pillon, High Tide Consulting Corp.
E: investors@silverhammermining.com

For media inquiries, contact:
Adam Bello, Primoris Group Inc.
T: 416.489.0092
E: media@primorisgroup.com

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements or forward-looking information under applicable Canadian securities laws (hereinafter collectively referred to as “forward-looking statements”) concerning the Company’s plans for its properties and mineral projects, financial results, operations and other matters. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of fact and may be forward-looking statements. Such forward-looking statements made as of the date of this news release or as of the date of the effective date of information described in this news release, as applicable.

Further, these forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause the Company’s actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally. (2) the inherent uncertainties and speculative nature associated with mineral exploration. (3) a decreased demand for precious metals, (4) any number of events or causes which may delay exploration and development of the property interests, such as environmental liabilities, weather, mechanical failures, safety concerns and labour problems, (5) the risk that the Company does not execute its business plan, (6) inability to finance operations and growth, (7) inability to obtain all necessary permitting and financing, and (8) other factors beyond the Company’s control. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release or in certain of the other documents on file with Canadian securities regulatory authorities, which are available on the Company’s SEDAR profile at www.sedar.com. The Company and its directors, officers and employees each disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable law. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. All forward-looking statements are expressly qualified in their entirety by this cautionary statement.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6512acd0-9b0c-4bcb-8f8d-9425a2e84ea5

Tags #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #SilverStrandMine, Eliza Silver Project, HAMR, Morgan Lekstrom, Silver Hammer Mining, Silverton

Base Metals Junior Mining Precious Metals Silver Bullet Mines

Silver Bullet Mines Corp. Operational Update

Post author By admin
Post date August 11, 2022

Burlington, Ontario–(Newsfile Corp. – August 11, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) provides an operational update on the ramp-up of its 125 metric ton per day pilot plant in Arizona, on progress at its Buckeye Silver Mine in Arizona, and on progress at the Washington Mine in Idaho.

While processing the lower-grade material from the Buckeye, all components of the Arizona mill continue to perform within parameters. Adjustments continue to be made within those parameters to fine-tune production. As a result the mill is producing silver concentrate and is pouring silver dore bars from this material, while the ramp-up continues. The Company intends to introduce higher-grade material from the Buckeye once the mill is operating optimally, to avoid wastage in the tailings.

Dore bars poured at the end of July, 2022

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/133505_bf8d84c94488a8fc_001full.jpg

The silver concentrate and dore bars have been and continue to be shipped to potential purchasers for analysis. All purchases will likely be FOB the mill site.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Arizona%253BCompany%253BSilver_mining%253BBall_mill%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%252266ea4121-4374-3b7f-bdd1-1217a3651081%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Occasional challenges are being encountered with the motor and starter for the ball mill. The field team reasonably believes these challenges can be overcome in the near future.

At the Buckeye Mine, mineralized material is being extracted from the vein above the decline near the Treasure Room. SBMI is also bolting, screening and adding timber to the adit as part of its ESG commitment.

In Idaho at the Washington Mine, SBMI has begun the process to have the adit timbered and brought to current safety standards. The next step there would be for the contract miner to begin the process of extracting a bulk sample of between 1,500 and 3,000 tons, to be processed at a local mill. Management expects SBMI’s capital investment for this process to be relatively minor.

Largely due to Covid the ramp-up of the mill in Arizona has taken longer than anticipated which has had an effect upon the Company’s anticipated cashflow. With a view to protecting its treasury SBMI is in advanced negotiations to enter into an agreement (the “Agreement”) with its largest institutional shareholder (the “Lender”) whereby SBMI would borrow CDN$650,000 (six hundred and fifty thousand dollars) for an 18-month term. The Agreement would provide for an 8 % 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 would be comprised of one common share and one common share purchase warrant exercisable at $0.35 for a four-year term.

Closing on the Agreement is conditional upon regulatory approval.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133505

Tags #BuckeyeMine, #JuniorMining, #MauriceJackson, #ProvenAndProbable, #SBMI, #WashingtonMine, John Carter, Silver, Silver Bullet Mines

Base Metals Collective Mining Energy Exclusive Interviews Junior Mining Precious Metals

Collective Mining – Discovers Long Gold Intersection of 2.68 G/T AuEq over 207.15 Meters

Post author By admin
Post date August 10, 2022

PRESS RELEASE:

Collective Mining Drills 207.15 Metres @ 2.68 AuEq at its Newly Discovered Apollo Target

Figure 1

Plan View of the Guayabales Project Highlighting the Apollo Target

Figure 2

Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway

Figure 3

Plan View With Drill Hole Traces of the Main Breccia Discovery Made at Apollo

Figure 4

Apollo Target Cross Section N-S with Core Photo Highlights for APC-2

APC-2 intersected a broad zone of high-grade breccia mineralization with overprinting carbonate base metal veins beginning at 100 metres below surface returning:
- 207.15 metres @ 2.68 g/t gold equivalent
APC-1W also intersected the main breccia structure with overprinting veining but was stopped short of the final target depth in a post mineral dyke due to rig capacity limits yet still yielded:
- 89.40 metres @ 2.46 g/t gold equivalent
Drilled dimensions of the Apollo target now measure 300 metres along strike by up to 100 metres across by 400 metres vertical and remains open in all directions

Assay results for drill holes APC-3 and APC-5 are expected in the near term. Both holes cut more than 200 metres of continuous mineralization in the main breccia body

TORONTO, Aug. 10, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from two additional holes completed at the Apollo target (“Apollo”) at the Company’s Guayabales project located in Caldas, Colombia. Apollo is a newly discovered high-grade copper-gold-silver porphyry-related breccia and is one of eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the project. As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target with an additional rig being mobilized to site to begin the Phase II program at the Olympus target in August 2022.

“With assay results in hand for three drill holes and visual observations from additional holes either recently completed or underway, it is becoming abundantly clear that we are dealing with a large mineralized system. Importantly, Apollo appears to be blessed with multiple pulses of fluids depositing metal into the system resulting in high-grade bulk drilling intervals. Our reconnaissance work in and around Apollo suggests we may only be on the tip of the iceberg in terms of understanding this system as our technical team believes that the main breccia discovery at Apollo may be the first in a series of porphyry and breccia discoveries in this area,” commented Ari Sussman, Executive Chairman.

A short video presented by Richard Tosdal and David Reading discussing the assay results and related drill core can be seen by clicking here.

Details (See Table 1 and Figures 1 – 4)

Three diamond drill holes with accompanying assay results confirm that the Apollo target has the potential to evolve into a significant high-grade, bulk tonnage mineralized system. New assay results for holes APC-2 and APC-1W are reported herein as follows:

APC-2:
207.15 metres @ 2.68 g/t AuEq from 154.5 metres down hole (100m vertical) including
17.40 metres @ 7.33 g/t AuEq from 192.5 metres down hole and
20.95 metres @ 5.21 g/t AuEq from 270.6 metres down hole.

APC-2 is the first hole drilled from a newly constructed pad located approximately 200 metres to the southeast of the initial pad from which drill holes APC-1 and APC-1W were drilled. APC-2 was drilled orthogonal to APC-1 and APC-1W and intersected bulk mineralization hosted within porphyry related breccia with overprinting carbonate base metal veins (“CBM”).

APC-1W:
89.40 metres @ 2.46 g/t AuEq from 293 metres down hole (175m vertical) including
19.35 metres @ 3.87 g/t AuEq from 93.8 metres down hole and
15.30 metres @ 2.31 g/t AuEq from 164.36 metres down hole.

APC-1W was drilled as a wedge hole from discovery hole APC-1 to the east and at a steeper inclination. The hole was stopped short of the target depth in a post-mineral dyke due to rig capacity issues. The hole was expected to re-enter the main mineralized breccia after clearing the dyke and extend the zone further to the south. Future drilling will test the area south of APC-1W to determine if mineralization extends beyond the post-mineral dyke in this location.

Mineralization is remarkably continuous along the axis of both intercepts and is hosted within an angular breccia with a sulphide matrix consisting of chalcopyrite (Cu), pyrite and pyrrhotite. Additionally, overprinting carbonate base metal porphyry veins flood the breccia matrix in various locations along the mineralized interval yielding the higher-grade intercepts in both holes. The breccia clasts are all quartz diorite and diorite in composition and this hydrothermal system is clearly linked to a porphyry system.
APC-2 was drilled perpendicular to APC-1W and has extended the mineralized breccia at least 200 metres to the northeast and 100 metres to the southwest. Two further holes, APC-3 and APC-5 have been completed with more than 200 metres of favorable mineralization intersected in both holes. Assay results for APC-3 and APC-5 are anticipated the near term.
Assay results and visual observation from all holes completed to date confirm that the main mineralized breccia has a minimum strike length of 300 metres in a northeast-southwest direction, is up to 100 metres thick and extends to at least 400 metres vertically below surface. The target remains open in all directions for expansion.
The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metre X 700 metre area. The Apollo target area hosts the Company’s new grassroots main breccia discovery plus additional yet untested breccia, porphyry and vein targets. The Apollo target area also remains open for further expansion.

Table 1: Assays Results

HoleI D	From (m)	To (m)	Intercept (m)**	Au (g/t)	Ag (g/t)	Cu %	Zn %	Pb %	Mo %	AuEq (g/t)*
APC1-W	293	382.4	89.40	0.89	58	0.39	0.07	0.06	0.001	2.46
Incl	296.6	315.9	19.35	1.04	128	0.53	0.13	0.12	0.001	3.87
	367.1	382.4	15.30	1.90	16	0.14	0.01	0.00	0.001	2.31
APC-2	154.7	361.9	207.15	1.46	45	0.31	0.075	0.05	0.002	2.68
Incl	192.5	209.9	17.40	6.57	44	0.08	0.285	0.23	0.003	7.33
	270.6	291.6	20.95	3.67	68	0.41	0.034	0.03	0.002	5.21

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95) + (Cu (%) x 1.96 x 0.95) + (Mo (%) x 7.35 x 0.95)+(Zn(%)x 0.86 x 0.95)+ (Pb(%)x 0.44 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Mo – US$15.00/lb, Zn – US$1.75/lb, Pb – US$0.9/lb, Ag – $20/oz and Au – US$1,400/oz and recovery rates of 95% for Au, Ag, Cu, Mo, Zn and Mo. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.4 g/t AuEq cut-off grade was employed with no more than 10% internal dilution. True widths are unknown, and grades are uncut.

Figure 1: Plan View of the Guayabales Project Highlighting the Apollo Target
https://www.globenewswire.com/NewsRoom/AttachmentNg/748c2e74-07e0-4a35-bb4e-a498f2c48301

Figure 2: Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
https://www.globenewswire.com/NewsRoom/AttachmentNg/69495b4e-a5c4-43bf-b978-9832ff92fa42

Figure 3: Plan View With Drill Hole Traces of the Main Breccia Discovery Made at Apollo
https://www.globenewswire.com/NewsRoom/AttachmentNg/8997b6cb-6594-48cd-8b7d-aa60fdeec92a

Figure 4: Apollo Target Cross Section N-S with Core Photo Highlights for APC-2
https://www.globenewswire.com/NewsRoom/AttachmentNg/b5bd44e2-8754-4913-a727-ab5e97711d93

About Collective Mining Ltd.

Twitter: @CollectiveMini1
Instagram: CollectiveMining
LinkedIn: Collective Mining
Facebook: Collective Mining Colombia

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

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

The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been defined. 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, 89.4 metres at 2.46 g/t AuEg and 87.8 metres at 2.49 g/t AuEg. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See related press releases on our website for AuEq calculations)

Qualified Person (QP) and NI43-101 Disclosure

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.
Steven 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.

Tags #AriSussman, #CanadianMining, #CanadianMiningStocks, #CollectiveMining, #Guayabales, #JuniorMining, #MauriceJackson, #ProvenAndProbable

Gold Shore Resources Junior Mining Precious Metals

Goldshore Intercepts 2.65 g/t Au over 14.6m in 200 m Step-Out Hole at Moss Lake

Post author By admin
Post date August 10, 2022

Vancouver, British Columbia–(Newsfile Corp. – August 10, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Lake Gold Project“).

Highlights:

Four holes drilled to evaluate the eastern extension of the Southwest Zone have confirmed gold mineralization within anastomosing shears in altered diorite with intercepts of:
- 39.75m @ 1.18 g/t Au from 44.25m depth in MMD-22-023, including
  - 14.60m @ 2.65 g/t Au from 462.2m
- 11.65m @ 1.05 g/t Au from 37.35m depth, and
- 18.70m @ 1.37 g/t Au from 151.1m in MMD-22-031
- 10.00m @ 1.05 g/t Au from 290.0m in MMD-22-035

President and CEO Brett Richards stated: “We are excited to continue to deliver consistent drilling results. I am encouraged about the high-grade sections we are seeing and have shared previously with the market, as this will provide optionality when we model the resource later in the year and start to look at economic pit shells. With this step out hole from historically drilled areas at Moss Lake, it will further increase the optionality.”

Technical Overviewhttps://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%253B1580500%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%252252ed9616-6bdd-3e2e-8c5d-430b03b8b1a6%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D

Table 1 shows the significant intercepts. Table 2 and Figure 1 show the drill hole locations.

Table 1: Significant downhole gold intercept

HOLE ID	FROM	TO	LENGTH (m)	TRUE WIDTH (m)	CUT GRADE (g/t Au)	UNCUT GRADE (g/t Au)
MMD-22-023	375.95	379.30	3.35	2.5	0.37	0.37
	440.25	502.10	61.85	49.4	0.84	0.88
Including	440.25	480.00	39.75	31.7	1.18	1.24
Including	462.20	476.80	14.60	11.7	2.65	2.83
and	490.35	502.10	11.75	9.6	0.32	0.32
	527.00	529.00	2.00	1.7	0.36	0.36
	565.40	584.35	18.95	16.2	0.32	0.32

MMD-22-027	22.80	28.00	5.20	3.3	0.76	0.76
	42.00	48.00	6.00	3.9	0.54	0.54
	58.60	82.00	23.40	15.7	0.37	0.37
	95.10	220.00	124.90	91.3	0.48	0.48
including	171.50	175.45	3.95	2.9	2.60	2.60
and	207.00	210.65	3.65	2.8	3.26	3.26
	260.00	262.70	2.70	2.2	0.46	0.46
	305.65	314.00	8.35	6.9	0.42	0.42
	336.10	351.20	15.10	12.9	0.47	0.47
	375.15	379.55	4.40	3.9	0.32	0.32
	386.00	394.00	8.00	7.1	0.56	0.56

MMD-22-031	15.50	64.30	48.80	33.3	0.61	0.61
including	25.00	29.00	4.00	2.7	1.43	1.43
and	37.35	49.00	11.65	7.9	1.05	1.05
	74.45	80.00	5.55	3.9	1.76	1.76
	91.95	174.45	82.50	60.3	0.66	0.66
including	106.80	112.80	6.00	4.3	1.30	1.30
and	151.10	169.80	18.70	13.9	1.37	1.37
	193.00	200.00	7.00	5.4	0.38	0.38
	212.00	231.60	19.60	15.4	0.37	0.37
including	214.00	216.00	2.00	1.6	1.91	1.91
	273.00	275.10	2.10	1.7	0.49	0.49

MMD-22-035	83.30	87.00	3.70	2.5	0.38	0.38
	92.00	111.00	19.00	13.0	0.49	0.49
	135.80	138.00	2.20	1.5	0.61	0.61
	156.00	166.00	10.00	7.3	0.56	0.56
	184.75	322.40	137.65	109.9	0.37	0.37
including	196.00	201.00	5.00	3.8	1.30	1.30
and	290.00	300.00	10.00	8.3	1.05	1.05
	332.85	355.55	22.70	19.7	0.47	0.47
including	332.85	338.00	5.15	4.4	1.37	1.37
	366.00	375.55	9.55	8.4	0.35	0.35
	415.00	435.00	20.00	18.1	0.46	0.46
	470.00	476.10	6.10	5.7	1.03	1.03
	498.25	514.95	16.70	15.8	0.40	0.40
	538.00	542.00	4.00	3.8	0.83	0.83
including	540.00	542.00	2.00	1.9	1.23	1.23
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.

Figure 1: Drill plan showing the drill holes relative to the 2013 resource model and the new parallel zones

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8051/133310_7659ee27e47ab9b1_002full.jpg

Table 2: Location of drill holes in this press release

HOLE	EAST	NORTH	RL	AZIMUTH	DIP	EOH
MMD-22-023	668300	5378663	433	135°	-50°	643.8m
MMD-22-027	668475	5378300	438	150°	-50°	494.0m
MMD-22-031	668500	5378300	439	120°	-50°	521.0m
MMD-22-035	668400	5378387	479	150°	-50°	623.05m
Approximate collar coordinates in NAD 83, Zone 15N

Results have been received for four holes that have tested the previously undrilled eastern extension of the Southwest Zone. They show that mineralization is continuous in several structurally-controlled zones. The Southwest Zone remains open in both the east and west directions.

These holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 61.85m @ 0.84 g/t Au from 440.25m in MMD-22-023; 124.9m @ 0.48 g/t Au from 95.1m in MMD-22-027; 64.3m @ 0.61 g/t Au from 15.5m and 82.5m @ 0.66 g/t Au from 91.95m in MMD-22-031; and 137.65m @ 0.37 g/t Au from 184.75m in MMD-22-035 among several 10-20 meter wide zones of low-grade gold mineralization throughout all holes.

All of these low-grade zones occur as envelopes to higher-grade structures. An analysis of oriented core by structural geologist, Dr. Brett Davis, confirmed that these form a three-dimensional, anastomosing shear network that has developed in response to strain on the altered diorite intrusion. Results include the broad zones of +1 g/t Au mineralization shown in the highlights (e.g., 39.75m @ 1.18 g/t Au from 440.25m in MMD-22-023) and several narrow high-grade intervals, including 0.8m @ 33.3 g/t Au from 462.2m in MMD-22-023; 0.3m @ 14.3 g/t Au from 172.3m in MMD-22-027; and 0.65m @ 15.5 g/t Au from 167.35m in MMD-22-031.

Pete Flindell, VP Exploration for Goldshore, said, “These drill results confirm the potential of the Moss Lake Gold Project. Drilling to test potential expansions to these parallel zones of mineralization will continue into the end of the year.”

Analytical and QA/QC Procedures

All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).

In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome is currently a large shareholder of Goldshore with an approximate 27% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.

About the Moss Lake Gold Project

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

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

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

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

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

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

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

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

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

Combined Total

43,311,700

1.08

1,473,700

80,897,000

0.98

2,514,876

Notes:

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

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

P. +1 604 288 4416
M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Moss Lake Gold Project, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; and the impact of COVID-19.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133310

Tags #BrettRichards, #CanadianMiningStocks, #GoldShoreResources, #GSHR, #JuniorMining, #MauriceJackson, #MossLakeProject, #ProvenAndProbable, best canadian gold stocks

Base Metals Junior Mining Precious Metals

Stuhini Exploration LTD. Closes First Tranche of Private Placement

Post author By admin
Post date August 8, 2022

Vancouver, British Columbia – August 4, 2022 ‑ Stuhini Exploration Ltd. (the “Company” or “Stuhini”) (TSX-V: STU and OTCPK: STXPF) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Private Placement”) previously announced on August 2, 2022 for aggregate gross proceeds to the Company of $1,026,125.

Under the first tranche of the Private Placement, the Company has issued a total of 2,142,500 flow-through units of the Company (“FT Units”) at a price of $0.45 per FT Unit (the “FT Unit Offering”) for total gross proceeds to the Company of $964,125. Each FT Unit consists of one (1) flow-through common share of the Company and one half (1/2) of one common share purchase warrant (each whole warrant, an “FT Warrant”). The FT Units will qualify as “flow-through shares” for the purposes of the Income Tax Act (Canada) (the “Tax Act”). Each FT Warrant will entitle the holder thereof to acquire one common share in the capital of the Company (each, a “Common Share”) at a price of $0.60 per Common Share for a period of two years from the date of issuance.

The aggregate gross proceeds from the FT Unit Offering will be used to incur “Canadian exploration expenses” which qualify as “flow-through mining expenditures” (within the meaning of the Tax Act) (“Qualifying Expenditures”) in order to fund exploration programs on Stuhini’s Ruby Creek Project and Big Ledge Project which are located in British Columbia. The Company will renounce these expenses to the purchasers with an effective date of not later than December 31, 2022.

The Company also issued a total of 155,000 non-flow through units of the Company (“NFT Units”) at a price of $0.40 per NFT Unit (the “NFT Unit Offering”) for total gross proceeds to the Company of $62,000. Each NFT Unit consists of one Common Share and one-half of one common share purchase warrant (each whole warrant, an “NFT Warrant”). Each NFT Warrant will entitle the holder thereof to acquire one Common Share at a price of $0.60 per Common Share for a period of two years from the date of issuance.

The aggregate gross proceeds from the NFT Unit Offering will be used to fund exploration programs on the Company’s other mineral properties, including the Que Project in the Yukon Territory, the South Thompson Nickel project in Manitoba, and any additional exploration projects acquired or staked in the United States through the Company’s wholly owned subsidiary, Arizada Metals Corp, as well as general and administrative expenses.

In connection with the closing of the first tranche of the Private Placement, the Company paid finders’ fees of $43,200 to Mine Equities Ltd. (“Mine Equities”) representing 6% of the proceeds raised from the sale of FT Units placed by Mine Equities.

A certain insider of the Company purchased a total of 60,000 NFT Units under the first tranche of the Private Placement. The issuance of securities to such person is considered to be a “related party transaction” within the meaning of TSX Venture Exchange (“TSXV”) Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61‑101”) adopted in the Policy. The Company intends to rely on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61‑101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61‑101 in respect of related party participation in the Private Placement as neither the fair market value (as determined under MI 61‑101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves interested parties, is expected to exceed 25% of the Company’s market capitalization (as determined under MI 61‑101).

Closing of the second tranche of the Private Placement is expected to occur on or before August 19th, 2022, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV. All securities issued pursuant to the first tranche of the Private Placement are subject to a hold period of four months and one day expiring on December 5, 2022.

About Stuhini Exploration Ltd.
Stuhini is a mineral exploration company focused on the exploration and development of it’s base and precious metal properties. The Company’s portfolio of exploration properties includes: its flagship, the Ruby Creek Property, located approximately 20 km east of Atlin, BC; the Que Project located approximately 70 km north of Johnson’s Crossing in the Yukon; the South Thompson Project located approximately 35 km northwest of Grand Rapids, Manitoba; and the Big Ledge Property located approximately 57 km south of Revelstoke, BC.

Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Canadian securities legislation. Such forward-looking statements concern, without limitation, the intended use of proceeds of the Private Placement and the renunciation of Qualifying Expenditures. Such forward‑looking statements or information are based on a number of assumptions which may prove to be incorrect. Assumptions have been made regarding, among other things: conditions in general economic and financial markets; timing and amount of capital expenditures; timing and amount of Qualifying Expenditures incurred; and effects of regulation by governmental agencies. The actual results could differ materially from those anticipated in these forward‑looking statements as a result of risk factors including, but not limited to: the availability of funds; the timing and content of work programs; results of exploration activities of mineral properties; the interpretation of drilling results and other geological data; general market and industry conditions; and failure to incur Qualifying Expenditures. Forward‑looking statements are based on the expectations and opinions of the Company’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. The Company undertakes no obligation to update or revise any forward-looking statements included in this news release if these beliefs, estimates and opinions or other circumstances should change, except as otherwise required by applicable law.

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.

For further information please contact:
David O’Brien
President & Chief Executive Officer
Stuhini Exploration Ltd.
Email: dobrien@stuhini.com
Phone: (604) 835-4019
Web: www.stuhini.com

Tags #InvestingInCopper, #JuniorMining, #MauriceJackson, #ProvenAndProbable

Junior Mining Lion One Metals Precious Metals

Lion One Announces Extension of Tuvatu Mine Lease to 2035

Post author By admin
Post date August 8, 2022

This image has an empty alt attribute; its file name is 2d26afd49c61f845bada429872591f65

North Vancouver, British Columbia–(Newsfile Corp. – August 8, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) announces that the Government of Fiji has granted an extension of the Tuvatu Mining Lease (SML 62) for an additional 10 year term renewable on Feb. 28, 2035.

SML 62 is the Company’s cornerstone permit enabling Lion One to build mining and milling operations at Tuvatu, forming part of its 100% owned, high-grade Tuvatu Alkaline Gold Project, located 24km from Fiji’s International Airport in Nadi.

In an official ceremony attended by over 300 dignitaries at Tuvatu yesterday, Lion One CEO Walter Berukoff thanked Fiji’s Attorney General Aiyaz Sayed-Khaiyum, the Mineral Resource Department, and Lion One’s Chief Operating Patrick Hickey, commenting, “I am proud to say that it is with great elation that the Government of Fiji has renewed our special mining lease for the Tuvatu Alkaline Gold Project for another ten years. This lease extension sends a clear message to the world that Fiji continues to be open to public markets which can access critical capital to enable responsible mining projects to be built. Responsible mining will enhance the local socio-economic conditions for all Fijians. To date, we have invested over $140 million into the local economy.”

The development of Tuvatu is guided by Lion One Chief Operating Officer Patrick Hickey, an accomplished engineer with extensive executive-level experience in mine building roles for companies such as Newmont Mining Corporation and Kinross Gold Corp. across Africa, Asia, and North America. Mr. Hickey leads a management team of nine and staff that includes some of the most skilled and experienced exploration and underground mining experts in the South Pacific. Under Mr. Hickey’s leadership, the Company has ramped up its mining development activities at Tuvatu. There are six active drill rigs, an Exploration decline measuring over one kilometre in length, and a fully operational on-site analytical sampling laboratory at production levels threefold from earlier this year.

Mr. Hickey commented, “We very pleased to have been granted this extension after the rigorous assessment process that factored not only the geological and economic potential of Tuvatu, but our environmental risk management strategy, and local landowners and community relationships. This milestone demonstrates the tremendous support the Fiji Government has for both Lion One and its mining industry as we continue our commitment to the communities that we operate in to provide direct employment opportunities and peripheral economic stimulus.”

About Lion One Metals Limited

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Figure 1: Tuvatu Project area

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Qualified Person

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), Patrick Hickey, P. Eng., Lion One’s Chief Operating Officer, is the Qualified Person for the Company and has reviewed and is responsible for the content of this news release.

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

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

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

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133123

Tags #JuniorMining, #LionOneMetals, #MauriceJackson, #ProvenAndProbable, #QuintonHennigh, #WalterBerukoff, LIO

Junior Mining Precious Metals

Is Gold a safeguard in times of recession?

Post author By admin
Post date August 5, 2022

By Luis Eduardo Azevedo

The current inflation of the United States is a concern to the whole world’s economy, and many believe that the scenario will only get worse. In order to contain the situation, the Fed is constantly raising interest rates. James Rickards, an economist and investment banker, believes that the interest rate could get as high as 5% in the near future. Also, the EUR/USD=x is currently at a five-year low and every time this ratio goes down, the interest rate goes up.

In opposition to a common belief that printing a lot of money equals high inflation, the government has been printing trillions of dollars in recent years even though the inflation never went further than 3%. The current inflationary type is the cost inflation. It occurs when prices rise due to increases in production costs such as wages and raw materials. In addition to this scenario, the employment rate went down to 59%.

One of the factors that have contributed to this crisis are the war sanctions against Russia. The biggest country in the world has negotiated more oil and natural gas at higher prices than before the Ukraine war, causing a slowdown in global production. Also, the BRICS is expecting Egypt, Saudi Arabia and Turkey to join their organization soon. They are working on an alternative reserve currency that would rival the IMF’s SD, the contingent Reserves Arrangement. Moreover, China is developing a new way to buy gold using the digital yuan, the Shanghai gold exchange.

Turkey also wants to ditch the dollar and start buying energy from Russia using other currencies. The same goes for India, which is now accepting rupees for payments and is activating a new shorter corridor to Russia, making it far easier to import and export.

All countries mentioned in the last two paragraphs, together with other 139 countries, are participating in the Belt and Road initiative. It is a strategy that seeks to connect Asia with Africa and Europe via land and maritime networks, looking forward to improving regional integration, increasing trade and stimulating economic growth.

If all this comes to fruition, 75% of the world’s population and 45% of the world’s GDP would be using another reserve currency, Saudi Arabia would open oil sales and all these countries would decrease their use of American dollars. With all these dollars coming back to the United States’ economy, hyperinflation would be a sure thing.

All these issues have contributed to the current recession and confirm that the world is creeping towards de-dollarisation.

As we have seen during other periods of high inflation in history, like the 1970s when it averaged 7% a year, assets with value, virtue, safety, and scarcity such as gold outperformed the stock market by a lot. The reason this metal is an excellent asset to protect your money from depreciation is because it has a positive correlation with inflation rates. In other words, the price of gold increases with inflation.

For example, from 1970 to 1974 inflation went as high as 12% a year. During that span of time, The Dow Industrial Average depreciated about 40% while gold went from $35/ounce to $180/ounce. As you can see gold is so valued that it joined the U.S. as the only tier #1 assets in the world.

Given all these facts, it is safe to say that the American dollar and the United States are losing their dominance over the world’s economy and gold is one of the best assets to protect your money from this scenario.

Text citations

● Kenton, W. (2022, March 27). Cost-push inflation. Investopedia. Retrieved July 27, 2022, from

https://www.investopedia.com/terms/c/costpushinflation.asp#:~:text=Key%20Takeaways,total%20production).

● Rickards, J. (2022, June 2). James Rickards. Wikipedia. Retrieved July 27, 2022, from

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● Cox, J. (2022, July 26). The numbers show the U.S. economy is at least teetering on a recession. CNBC. Retrieved July 27, 2022, from

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https://www.investopedia.com/ask/answers/07/central-banks.asp

● EBRD, E. B. for R. and D. (n.d.). Belt and road initiative (BRI). European Bank for Reconstruction and Development (EBRD). Retrieved July 29, 2022, from

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● Kramer, L. (2022, June 28). The great inflation of the 1970s. Investopedia. Retrieved July 29, 2022, from

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● WANG, C. N. E. D. O. P. I. L. (n.d.). Countries of the belt and road initiative (BRI). Green Finance & Development Center. Retrieved July 29, 2022, from

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Junior Mining Precious Metals

Tectonic Metals Announces the Appointment of a New Director

Post author By admin
Post date August 5, 2022

VANCOUVER, BC / ACCESSWIRE / August 4, 2022 / Tectonic Metals Inc. (TSXV:TECT); (OTCQB:TETOF); (FSE:T15B) (the “Company” or “Tectonic”) is pleased to announce the appointment of Mr. Joseph J. Perkins to the Company’s Board of Directors as an independent director. Over the course of his 40-year legal career, Mr. Perkins, in some capacity, has been involved with every major resource project in Alaska, including the Greens Creek, Fort Knox, Red Dog, and Pogo mines and many high-profile transactions. He has represented mining companies, oil and gas companies, Alaska Native corporations, and financial institutions in connection with mining and oil and gas transactions, properties, and projects.

Joseph J. Perkins, Director, stated, “Over the course of my career I have been privileged to work with a remarkable array of individuals and organizations in Alaska’s resource sector. I was introduced to Tectonic in 2018 when I assisted the Company in the development of their initial project lease agreements with one of Alaska’s leading Native Regional Corporations. Tectonic’s approach to mineral exploration, the pedigree of its team and their vision of being a leading exploration company, creating value for both shareholders and other stakeholders, impressed me from day one. I could not be more excited to join Tectonic’s board to work alongside this highly accomplished and motivated team of professionals, all of whom are committed to executing on behalf of shareholders.”

Allison Rippin Armstrong, Chair of the Board, commented, “On behalf of the Board of Directors, I am pleased to welcome Joe to the Tectonic Board. Joe brings a wealth of knowledge and legal experience and is highly respected in the Alaska resource sector. Joe’s unique perspective will make a significant contribution to the Board, and the growth of the Company.“

About Mr. Perkins

Joe has practiced natural resources law in Alaska since 1979-first with Guess & Rudd P.C. and then, for the last 14 years, with Stoel Rives LLP. He has represented mining companies, oil and gas companies, Alaska Native corporations, and financial institutions in connection with natural resource transactions, properties, and projects. Joe has worked in some capacity on every major resource project in Alaska (including the Greens Creek, Fort Knox, Red Dog, and Pogo mines), on many major transactions, and hundreds of smaller transactions.

Throughout his career, Joe has devoted significant time and energy to the Foundation for Natural Resources and Energy Law (formerly the Rocky Mountain Mineral Law Foundation). He is co-author of Title VI (“Alaska Lands and Mineral Interests”) of the American Law of Mining (2d ed. 1984 and regular updates), is the author or co-author of eight papers presented at continuing legal education programs offered by the Foundation and has served as a trustee of the Foundation and on the Scholarship Committee of the Foundation.

Joe received his law degree (J.D., 1979) from the University of Denver College of Law (now the Sturm College of Law) and his undergraduate degree (B.S.E. in Geological Engineering, 1976) from Princeton University. After more than 40 years in Alaska, Joe now resides in Portland, Oregon, where he is in his last year as senior counsel to Stoel Rives LLP.

Stock Option Grant

The Company announces that it has granted Mr. Perkins an aggregate of 500,000 incentive stock options to purchase up to 500,000 common shares in the capital of Tectonic. The incentive stock options have a term of five years from the date of grant and an exercise price of $0.10 per share.

To learn more about Tectonic, please click here.

On behalf of Tectonic Metals Inc.,

Tony Reda
President and Chief Executive Officer

For further information about Tectonic Metals Inc. or this news release, please visit our website at www.tectonicmetals.com or contact Bill Stormont, Investor Relations, at toll-free 1.888.685.8558 or by email at info@tectonicmetals.com.

Facebook:	https://www.facebook.com/TectonicMetals/
Twitter:	https://twitter.com/TectonicMetals
Instagram:	https://www.instagram.com/tectonicmetals/
LinkedIn:	https://www.linkedin.com/company/tectonic-metals

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

SOURCE: Tectonic Metals Inc.

View source version on accesswire.com:
https://www.accesswire.com/710788/Tectonic-Metals-Announces-the-Appointment-of-a-New-Director

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Bravo Intercepts Massive Sulphide Mineralization at its Luanga (PGM + Au + Ni) Project

Post author By admin
Post date August 3, 2022

11m* Zone of Massive and Brecciated Semi-Massive Nickel/Copper Sulphides Intersected

VANCOUVER, BC, Aug. 3, 2022 /CNW/ – Bravo Mining Corp. (TSX.V: BRVO), (“Bravo” or the “Company“) today announced that a diamond drill hole at its Luanga Project (“Luanga“), located in the Carajás Mineral Province, state of Pará, Brazil, intersected massive sulphide and semi-massive sulphide mineralization. Based on visual inspection by experienced geologists the core is interpreted to contain pyrrhotite, pentlandite (a primary nickel sulphide mineral) and chalcopyrite (a primary copper sulphide mineral). This style of sulphide mineralization, in these concentrations, has not previously been observed at the Luanga platinum group metals (palladium + platinum + rhodium) + gold + nickel (PGM+Au+Ni) project. Likewise, primary copper mineralization (interpreted as chalcopyrite) has previously only been observed in trace amounts at Luanga.

DDH22LU047: Massive sulphide mineralization interpreted as pyrrhotite + lesser pentlandite (a nickel mineral) and chalcopyrite (a copper mineral), from 136.0 to 137.6m* (CNW Group/Bravo Mining Corp.)

“Intersecting this style of massive sulphide mineralization for what we believe to be the first time at Luanga is a potentially material development,” said Luis Azevedo, Chairman and CEO of Bravo. “The drill hole has already been cased with PVC for planned downhole electromagnetic survey (DHTEM), and we will shortly be commencing a detailed ground gravity survey. Both geophysical techniques could help guide follow-up drill holes. We believe that further discovery potential exists at Luanga, particularly regarding prospective zones below the PGM mineralization and the geophysics could help direct that work.”

Highlights

Subsequent to executing the remaining land access agreements, the first of the planned northern drill holes (DDH22LU047) intersected massive and semi-massive sulphides that are interpreted to contain both pentlandite (a primary nickel mineral) and chalcopyrite (a primary copper mineral). PGM+Au+Ni assays are pending.
DDH22LU047 is already PVC cased ready for DHTEM, a highly successfully geophysical tool for defining and targeting conductors generated by massive sulphides.
Bravo plans to commence a detailed ground gravity survey. Gravity surveys are ideally suited to detecting differences in density, such as the high densities native to massive sulphides.

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 project, including to the north where the latest and final surface access agreements were recently signed.

Phase 1 drilling is designed to confirm, infill and step out from the previously defined mineralization in order to increase confidence in the geological model and provide the basis for future mineral resource estimates. Additionally, deeper drilling will target extensions and exploration targets at Luanga.

DDH22LU047: Breccia sulphide interpreted as pyrrhotite + pentlandite (a nickel mineral) + chalcopyrite (a copper mineral), from 137.0 to 137.5m* (CNW Group/Bravo Mining Corp.)

DDH22LU047: Drill core showing massive and brecciated semi massive sulphides, from 131.1m to 142.1m* (CNW Group/Bravo Mining Corp.)

* Depths and widths are downhole

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.

For further information about Bravo, please visit www.bravomining.com or contact:

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 “may” or “will” occur. In particular, this news release contains forward-looking information pertaining to the Company’s ongoing re-assay and drill programs; the expected arrival of additional drill rigs and delivery of historic core; 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.

Bravo Mining LOGO (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Tags #InvestingInBatteryMetals, #JuniorMining, #MauriceJackson, #ProvenAndProbable, Bravo Mining, BRVO, Luis Azevedo

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