Category: Precious Metals

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Base Metals Energy Junior Mining Precious Metals

Collective Mining Intersects 384.7 Metres at 2.46 g/t Gold Equivalent Including 109.8 Metres grading 4.14 g/t Gold Equivalent from Surface at the Apollo Porphyry System

  • Assay results for drill hole APC-31, which is the first hole to test the mineralized outcrop of the Apollo porphyry system (*formerly known as the Main Breccia discovery), has intersected significant continuous high-grade copper-silver-gold mineralization from surface as follows:
  • High-grade oxide mineralization was encountered over the initial 42.35 metres of the drill hole averaging 5.08 g/t gold equivalent.
  • Five additional drill holes have been completed in 2023 to date from drill Pads 6 and 7. All five holes appear to have cut significant mineralization beginning at bedrock with the three completed holes from Pad 6 intersecting more than 350 metres of continuous mineralization and the two outstanding holes from Pad 7 intersecting more than 100 metres and 170 metres of continuous mineralization, respectively. Assay results for these holes are expected in the near term.
  • Outcrop mapping and sampling in the south and central portions of the Apollo porphyry system has outlined a 130 metres X 130 metres area of known surface mineralization which is open in all directions. Two new pads (9 and 10) are under construction and once operational will provide more drilling options to test this expanding area of surface and shallow mineralization.

Ari Sussman, Executive Chairman commented: “2023 is off to an excellent start to say the least. Not only did drill hole APC-31 confirm for the first time that the high-grade copper-silver-gold mineralization in the Apollo porphyry system comes right to surface, but also that there is a significant zone of high-grade oxide mineralization. We have truly discovered a remarkable porphyry system at Apollo characterized by unusually high-grades of combined gold, silver and copper. We are equally fortunate that our Guayabales project is located in a mining camp contiguous to the multi-million-ounce Marmato mine and are confident that our Apollo porphyry system will play a key role in Colombia’s decarbonization strategy. Our plan in 2023 is to remain aggressive with both drilling and ESG so that our “Collective” model for mining yields dividends for stakeholders and shareholders alike.”

TORONTO, Feb. 23, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from the first drill hole of 2023 as part of the Company’s phase II drill program at the Guayabales project located in Caldas, Colombia. The aim of the phase II program is to test and define through drilling the shallow portion of the Apollo porphyry system (*formerly known as the Main Breccia discovery) as well as continue expanding the system through step-out drilling. The Apollo porphyry deposit is a high-grade, bulk tonnage copper-silver-gold system, which owes its excellent metal endowment to an older porphyry copper-silver and gold mineralization being overprinted by younger precious metal rich, carbonate base metal vein systems (low and intermediate sulphidation) within a magmatic, hydrothermal intermineral breccia body currently measuring 395 metres x 385 metres x 915 metres and open for expansion.

Details (See Table 1 and Figures 1-3)

Assay results for the first drill hole (APC-31) from the 2023 phase II program is announced in this press release. The Phase II drilling program of 2023 is advancing on schedule with six holes completed and a further three in progress. The aim of this program is to define the high-grade mineralization and dimensions of the Apollo porphyry near surface while continuing to expand the size of the system through step-out drilling.

To date, a total of 32 drill holes (approximately 15,400 metres) have been completed and assayed at the Apollo target with the majority of the holes testing the Apollo porphyry system.

Assay results and geological observations of APC-31 are summarized below.

APC-31 was a shallow hole, drilled steeply to the northwest from Pad 6 to a maximum depth of 389.6 metres (370 metres vertical). The hole was designed to exclusively test the upper portion of the porphyry system from a location where the system outcrops at surface. The hole intersected continuous mineralization from surface down to its final depth where it was terminated while still in strong mineralization. APC-31 is the highest-grade accumulation of mineralization reported from drilling to date and averaged:

  • 384.7 metres @ 2.46 g/t gold equivalent (consisting of 1.17 g/t gold, 43 g/t silver and 0.37% copper) and including;

The mineralized interval starts from surface to 30 metres depth within saprolite material followed by an additional 17.5 metres of saprock with iron oxides and sulphides to 47.25 metres before transitioning into fresh rock consisting of chalcopyrite (0.5% to 1.5%), pyrite (1% to 2.5%) and some pyrrhotite (~1%). The mineralization is overprinted by carbonate-base metal veins containing sphalerite and galena and high grades of gold. Gold grades are significantly higher in the oxidized portion of the intercept down to 47.25 metres, while copper and silver grades are reduced within the same interval presumably due to weathering.

Outcrop mapping and sampling in the south and central portions of the system has outlined a 130 metre-by-130 metre area of known surface mineralization, which is open in all directions. 2023 drill Pads 6 and 7 have been designed to achieve the objective of understanding the styles and tenor of the shallow, high-grade mineralization from surface down to depths of up to 400 metres. Visual observations from five completed holes that are awaiting assay results in the near term indicate continuous intercepts from surface over core lengths ranging from more than 100 metres to more than 350 metres. The Company presently has three diamond drill rigs operating at the project.

Two new drill pads, numbered 9 and 10, are under construction to provide further drilling options to test and expand upon the area which the Apollo porphyry system outcrops at surface.

The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers a 1,000 metres X 1,200 metres area, and represents a large and unusually high-grade Au-Cu-Ag porphyry system. Mineralization styles include early-stage porphyry veining, inter-mineral breccia mineralization and multiple zones of late stage, sheeted, carbonate-base metal veins with high gold and silver grades. The Apollo target area is still expanding as the Company’s geologists find more outcrop areas with porphyry veining, breccia, and late stage, sheeted, carbonate base metal veins.

Table 1: Assays Results for APC-31

Hole IDFrom
(m)		To
 (m)		Intercept
(m)		Au
(g/t)		Ag
(g/t)		Cu
%		Mo
%		AuEq
(g/t)*
APC-314.90389.60384.701.17430.370.022.46
Including4.90325.70320.801.34490.440.022.84
4.90114.70109.803.15450.250.014.14
**4.9047.2542.354.81230.090.0015.08

*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) is calculated as follows:  (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut
**Zone of Oxidation

Figure 1: Plan View of the Apollo Porphyry System (formerly known as the Main Breccia Discovery) Highlighting Drill Hole APC-31 (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of the Apollo Porphyry System (formerly known as the Main Breccia Discovery) Highlighting Drill Hole APC-31 (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)
Figure 2: Plan View of the Guayabales Project Highlighting the Apollo Target Area (CNW Group/Collective Mining Ltd.)
Figure 3: Core Photo Highlights from Drill Hole APC-31 (CNW Group/Collective Mining Ltd.)
Figure 3: Core Photo Highlights from Drill Hole APC-31 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper-silver-gold Apollo porphyry system. The Company’s near-term objective is to drill the shallow portion of the porphyry system while continuing to expansion the overall dimensions of the system, which remains open in all directions.

Management, insiders and close family and friends own nearly 52% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

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.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

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

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

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

SOURCE Collective Mining Ltd.

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Energy Junior Mining Precious Metals Uncategorized

Franco-Nevada Update on the Suspension of Ore Processing at Cobre Panama

TORONTO, Feb. 23, 2023 /CNW/ – Franco-Nevada Corporation (“Franco-Nevada” or the “Company“) (TSX: FNV) (NYSE: FNV) has been advised by its partner First Quantum Minerals Ltd. (“First Quantum“) that First Quantum’s subsidiary, Minera Panama, S.A. (“MPSA“), has suspended ore processing operations at the Cobre Panama mine.  As previously announced, the Panama Maritime Authority (“AMP“) issued a resolution on January 26, 2023 requiring the suspension of concentrate loading operations at the Cobre Panama Port, Punta Rincón, until certification of the calibration of the scales by an accredited company had been initiated.  Key updates as reported by First Quantum include:

  • MPSA believes it has complied with all requirements of the AMP resolution but copper concentrate loading operations are still not being permitted by the AMP
  • MPSA will begin a partial demobilization of its workforce and will take a systematic approach to reducing operations to ensure the safety of its workforce, prevent damage and degradation of equipment and preserve the integrity of the mine
  • If the AMP is to permit the recommencement of concentrate loading operations, MPSA could begin shipping concentrate and resuming operations at the mine within hours
  • Negotiations with the Government of Panama on a refreshed contract are continuing and First Quantum remains committed to achieving an outcome that will be to the benefit of all stakeholders and support the long-term operations of the Cobre Panama mine.

Please refer to First Quantum’s press release dated February 23, 2023 for further details.

Impact on Franco-Nevada

Franco-Nevada (Barbados) Corporation, a subsidiary of Franco-Nevada, holds two precious metal streams indexed to the copper-in-concentrate shipped by Cobre Panama.  First Quantum’s 2023 guidance for uninterrupted production from Cobre Panama provided on January 16, 2023 was for 350kt to 380kt of copper production. This would translate into 131koz to 142koz of attributable GEO production to Franco-Nevada (calculating gold equivalence using $1,800/oz Au and $21.00/oz Ag prices).

Provided operations resume at Cobre Panama, the impact to Franco-Nevada of the suspension of operations should be limited to a deferral of revenue as the streams do not bear any associated carrying costs while operations are suspended.

Despite operations at the mine being suspended, Franco-Nevada remains highly profitable, continues to generate substantial cash flow, is debt-free, and has cash and working capital in excess of US$1 billion, an undrawn US$1 billion credit facility and limited financial commitments.  Franco-Nevada remains in communication with First Quantum and will provide further updates as they are available.

Forward-Looking Statements

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to future events or future performance, management’s expectations regarding Franco-Nevada’s growth, results of operations, estimated future revenues, performance guidance, carrying value of assets, future dividends and requirements for additional capital, mineral reserve and mineral resource estimates, production estimates, production costs and revenue, future demand for and prices of commodities, expected mining sequences, business prospects and opportunities, the performance and plans of third party operators, audits being conducted by the CRA, the expected exposure for current and future assessments and available remedies, the outcome of any discussions between the Government of Panama and the operator of the Cobre Panama mine and the remedies relating to and consequence of any actions taken by the Government of Panama or the operator of the Cobre Panama mine. In addition, statements relating to reserves and resources, gold equivalent ounces (“GEOs”) and mine life are forward-looking statements, as they involve implied assessment, based on certain estimates and assumptions, and no assurance can be given that the estimates and assumptions are accurate and that such reserves and resources, GEOs or mine life will be realized. Such forward-looking statements reflect management’s current beliefs and are based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budgets”, “potential for”, “scheduled”, “estimates”, “forecasts”, “predicts”, “projects”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Franco-Nevada to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. A number of factors could cause actual events or results to differ materially from any forward-looking statement, including, without limitation: fluctuations in the prices of the primary commodities that drive royalty and stream revenue (gold, platinum group metals, copper, nickel, uranium, silver, iron ore and oil and gas); fluctuations in the value of the Canadian and Australian dollar, Mexican peso, and any other currency in which revenue is generated, relative to the U.S. dollar; changes in national and local government legislation, including permitting and licensing regimes and taxation policies and the enforcement thereof; the adoption of a global minimum tax on corporations; regulatory, political or economic developments in any of the countries where properties in which Franco-Nevada holds a royalty, stream or other interest are located or through which they are held; risks related to the operators of the properties in which Franco-Nevada holds a royalty, stream or other interest, including changes in the ownership and control of such operators; relinquishment or sale of mineral properties; influence of macroeconomic developments; business opportunities that become available to, or are pursued by Franco-Nevada; reduced access to debt and equity capital; litigation; title, permit or license disputes related to interests on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; whether or not the Company is determined to have “passive foreign investment company” (“PFIC”) status as defined in Section 1297 of the United States Internal Revenue Code of 1986, as amended; potential changes in Canadian tax treatment of offshore streams; excessive cost escalation as well as development, permitting, infrastructure, operating or technical difficulties on any of the properties in which Franco-Nevada holds a royalty, stream or other interest; access to sufficient pipeline capacity; actual mineral content may differ from the reserves and resources contained in technical reports; rate and timing of production differences from resource estimates, other technical reports and mine plans; risks and hazards associated with the business of development and mining on any of the properties in which Franco-Nevada holds a royalty, stream or other interest, including, but not limited to unusual or unexpected geological and metallurgical conditions, slope failures or cave-ins, flooding and other natural disasters, terrorism, civil unrest or an outbreak of contagious disease; the impact of the COVID-19 (coronavirus) pandemic; and the integration of acquired assets. The forward-looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: the ongoing operation of the properties in which Franco-Nevada holds a royalty, stream or other interest by the owners or operators of such properties in a manner consistent with past practice; the accuracy of public statements and disclosures made by the owners or operators of such underlying properties; no material adverse change in the market price of the commodities that underlie the asset portfolio; the Company’s ongoing income and assets relating to determination of its PFIC status; no material changes to existing tax treatment; the expected application of tax laws and regulations by taxation authorities; the expected assessment and outcome of any audit by any taxation authority; no adverse development in respect of any significant property in which Franco-Nevada holds a royalty, stream or other interest; the accuracy of publicly disclosed expectations for the development of underlying properties that are not yet in production; integration of acquired assets; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended. However, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. In addition, there can be no assurance as to the outcome of the ongoing audit by the CRA or the Company’s exposure as a result thereof. Franco-Nevada cannot assure investors that actual results will be consistent with these forward-looking statements. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

For additional information with respect to risks, uncertainties and assumptions, please refer to Franco-Nevada’s most recent Annual Information Form filed with the Canadian securities regulatory authorities on www.sedar.com and Franco-Nevada’s most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward-looking statements herein are made as of the date of this press release only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.

Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

Metallic Minerals to Display at Yukon Mining Alliance’s Invest Yukon Core Shack During PDAC

VANCOUVER, BC / ACCESSWIRE / February 21, 2023 / Metallic Minerals Corp. (TSXV:MMG)(OTCQB:MMNGF) (“Metallic Minerals” or the “Company”) is pleased to announce it will be participating in the inaugural Yukon Mining Alliance (“YMA”) Invest Yukon Core Shack to be held in the main Investors Exchange exhibit hall at the Prospectors and Developers Annual Convention (“PDAC”) in Toronto. The Invest Yukon Core Shack will be located at Booth #3314, adjacent to the main PDAC Core Shack and Metallic will be presenting core on March 5 and 6th from both of its key projects, the Keno Silver project in Yukon and the La Plata Copper-Silver project in Colorado. The Company will also have a presence in the main Investors Exchange from March 5-8 and investors are invited to visit booth # IE3024 to meet the team in person.

Metallic Minerals Corporate Presentation

In addition, President Scott Petsel will be providing a corporate presentation at a Forum for Investors on March 6th in the silver-focused session, Room 803, between 10:00 am and 12:00 pm at the Metro Toronto Convention Center. For more information, visit here.

Invest Canada North Reception

The Metallic Group of Companies is proud to be a sponsor of the 2023 Invest Canada North reception to be held March 6 in MTCC North Room 106 from 4pm – 7pm EST. Leaders from its members, Metallic Minerals, Granite Creek Copper and Stillwater Critical Minerals will be in attendance and the Group will have a display table where guests are invited to meet the team. For more information, visit here.

About Yukon Mining Alliance

Yukon Mining Alliance – the globally recognized Invest Yukon brand – is a strategic alliance of Yukon’s leaders in exploration and mining who, in partnership with the Government of Yukon, connect investors with Yukon’s competitive advantages through innovative capital attraction initiatives. For more information visit InvestYukon.ca.

Invest Canada North connects global investors with the competitive advantages and opportunities in Canada’s North, Yukon, Northwest Territories and Nunavut, at one of the world’s biggest annual mining conferences, the PDAC Convention. Our unique initiatives showcase each region, through keynote presentations, panels and special sessions, highlighting the leaders in exploration, development and production, as well as the mining ecosystem that is supported by significant geological potential, strong geopolitical stability and progressive Indigenous and community partnerships. Through our Invest Canada North mining portal catch up on the latest news in the north or dive into each region to discover your next great opportunity. To learn more visit https://investcanadanorth.ca.

About Metallic Minerals

Metallic Minerals Corp. is a leading exploration and development stage company, The Company is focused on silver and gold in the high-grade Keno Hill and Klondike districts of the Yukon, and copper, silver and other critical minerals in the La Plata mining district in Colorado. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Hecla Mining’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and third largest in the world, completed the acquisition of Alexco Resources and their Keno Hill operations in September 2022.

Metallic Minerals is also one of the largest holders of alluvial gold claims in the Yukon and is building a production royalty business by partnering with experienced mining operators, including Parker Schnabel of Little Flake Mining from the hit television show Gold Rush on the Discovery Channel. At the Company’s La Plata project in southwestern Colorado an inaugural NI 43-101 mineral resource estimate in April 2022 outlined a significant porphyry copper-silver resource with results from the 2022 expansion drill program pending.

All of the districts in which Metallic Minerals operates have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits in the region, as well as having large-scale development, permitting and project financing expertise. The Metallic Minerals team has been recognized for its environmental stewardship practices and is committed to responsible and sustainable resource development.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Website: www.mmgsilver.comPhone: 604-629-7800
Email: cackerman@mmgsilver.comToll Free: 1-888-570-4420

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.

SOURCE: Metallic Minerals Corp.

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Accelerates Mine Development and Construction at The Tuvatu Alkaline Gold Project in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – February 16, 2023) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) announces the acceleration of mine development and plant construction following the completion of project financing, at the Company’s 100% owned Tuvatu Alkaline Gold Project in Fiji.

Lion One has advanced the number 2 development drive by over 250 meters and has completed the first cut of high-grade material from the URA1 lode. The samples taken from this first cut averaged 14 g/t gold and are designated for the high-grade ROM stockpile.

Lion One CEO Walter Berukoff commented, “In conjunction with ongoing mine development, we are preparing to mobilize personnel for the installation and commissioning of the Tuvatu gold processing plant. All of the processing plant components have already been delivered to Fiji, with shipments of the remaining bulk materials in progress and expected to be delivered by the end of March to coincide with the completion of infrastructure for the mill area, electrowinning facility, and gold room.”

The Lion One processing plant will treat material using a two-stage crushing process, with a primary jaw crusher and secondary cone crusher feeding a two-stage grinding circuit. The ground material will feed an integrated two stage gravity concentration circuit with some concentrates treated by an intensive cyanide leaching reactor and the remainder of the concentrates leached using conventional cyanide Carbon in Leach (CIL)) technology. Gold will be recovered from the gold laden carbon using conventional absorption desorption recovery (ADR) technology and smelted on site to produce gold doré bars. The leached tailings will be treated using the SO2/air process to remove any residual cyanide. Filtered tailings will be transported to Lion One’s tailings storage facility 3.5 km from the Tuvatu mine site.

Lion One plans to operate at an initial production capacity of 300 tonnes per day for the initial 18 months of operations before increasing the capacity to 500 tpd in mid-2025. The initial mining will focus on the near-surface resource while advancing underground development into high-grade mineralization in Zone 500.

The 2023 drilling program will be focused on three fronts: grade control drilling of the near-term production blocks; drill-testing regional targets with the aim of identifying additional separate mineralized systems within the greater Navilawa caldera; and completing the geophysical (CSAMT) surveys initiated in 2022 to delineate additional drill targets.

About Tuvatu  
The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au.  The technical report is available on the Lion One website at U and on the SEDAR website at www.sedar.com.

Continued…



Photo 1: Aerial view of the Tuvatu plant site and surrounding Navilawa caldera

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Photo 2: Aerial view of the Tuvatu production decline portal and plant site

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Photo 3: Aerial view of the Tuvatu plant site

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Photo 4: mining fleet

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Photo 5: ball mills

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Photo 6: mobile crusher

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Photo 7: Tuvatu production decline

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Photo 8: Tuvatu production decline

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Figure 1: section view of Tuvatu deposit

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Figure 2: section view of Tuvatu deposit and planned development drives

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Photo 9: First cut from URA1 Lode in Tuvatu production decline

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Figure 3: URA1 lode accessed by Tuvatu production decline

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Figure 4: Tuvatu resource and regional targets in Navilawa caldera

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Photo 10: Tuvatu tailings storage facility looking north into Navilawa caldera

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Photo 11: aerial photo of Fiji head office compound and assay laboratory in Nadi

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Photo 12: Lion One geochemical and metallurgical laboratory

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Photo 13: Lion One geochemical and metallurgical laboratory

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

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

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 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 labor 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/155054

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals

EMX Intersects 17.8 Meters Averaging 4.01 g/t Gold at Its Wholly Owned Yarrol Project in Australia

Vancouver, British Columbia–(Newsfile Corp. – February 16, 2023) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to provide an update on the advancement of its 100% owned Yarrol Project in Queensland, Australia. The Yarrol Project contains zones of gold and copper mineralization in addition to areas with cobalt-enriched manganese oxide mineralization and heavy mineral sands deposits (see Figures 1 and 2). A recently executed reconnaissance drill program targeted all three styles of mineralization. Analytical results from a drill hole in the core of the historically defined zone of gold mineralization are highlighted by an intercept of 17.8 meters averaging 4.01 g/t gold from 61 meters in drill hole DD22-YA1871 (see Figure 3). A second hole (DD22-YA188) intersected multiple intervals of gold mineralization including 12 meters at 0.91 g/t gold from 92 meters (see Figure 4)1. These holes were intended to confirm the nature of the gold mineralization that have been historically mined and explored at Yarrol. It is notable that the selected sample intervals from both drill holes began and ended in gold mineralization2, and additional intervals will be sampled and analyzed from both holes.

Drill holes DD22-YA187 and DD22-YA188 were drilled as part of a 15 hole program, with two deeper core holes in the zones of gold mineralization and 13 shallow diamond and air core holes targeting the manganese-cobalt mineralization and mineral sands. EMX expects to receive additional analytical results for the manganese-cobalt mineralization and mineral sands deposits in the coming weeks. Results from those drill holes will be discussed in a separate disclosure.

The Yarrol Project is currently available for partnership, in accordance with the royalty generation aspect of EMX’s business model.

Yarrol Project. The 55,900 Ha Yarrol Project is located between EMX’s Queensland Gold project and Evolution Mining’s Mt Rawdon gold mine, and is positioned along the regional scale Yarrol Fault zone. Several other historical mines and active exploration projects also lie along the Yarrol Fault structural trend.

Yarrol was the site of historical gold mining activities in the 1800’s through the 1930’s, with historical gold production averaging ~10 g/t.3 Further exploration and assessments conducted in the 1980’s and 1990’s led to the definition of two historical gold resources (see notes regarding the historical mineral resources below). Gold mineralization at Yarrol is present as quartz sulfide veins and zones of silicification developed in and around Permian-aged dioritic intrusions as confirmed in holes DD22-YA187 and DD22-YA188.

In late 2021, while conducting exploration programs to expand the known zones of gold mineralization, EMX geologists encountered zones of cobalt-enriched manganese oxide mineralization on the northern side of the Project area. This led to an expansion of the land position, as well as new exploration programs targeting the manganese and cobalt mineralization. Surface sampling programs demonstrated that the zones of manganese oxide mineralization encountered in the field consistently averaged over 1% cobalt, accompanied by enrichments in both nickel and copper (see EMX news release dated January 4, 2022).

Dr. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 and employee of the Company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.

Comments on Sampling, Assaying, and QA/QC. EMX’s drill and surface samples were collected in accordance with accepted industry standards and best practices. The samples were submitted to ALS Laboratories in Brisbane for sample preparation and analysis. Gold was analyzed by Au_AA24 fire assay and AAS (50 g nominal sample weight) method, and multi-element analyses were performed by an ME-MS61 method combining a four-acid digestion with ICP-MS finish. As standard procedure, the Company conducts routine QA/QC analysis on all assay results, including the systematic utilization of certified reference materials, blanks, and field duplicates.

Comments on Historical Mineral Resources at Yarrol and Nearby Mines and Deposits. The historical mineral resources at Yarrol were reported in 2010 by MGT Mining Ltd, which was a publicly traded Australian company at the time of publication. EMX has not done sufficient work to verify the historical resources.

The nearby mines and deposits in the region provide geologic context for EMX’s Project, but this is not necessarily indicative that the Project hosts similar mineralization.

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

For further information contact:

David M. Cole
President and Chief Executive Officer
Phone: (303) 973-8585
Dave@emxroyalty.com

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

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

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

Forward-Looking Statements

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

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

Figure 1. Location map for Yarrol Project

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_002full.jpg

Figure 2. Geological Maps and Drill Hole Locations

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_003full.jpg

Figure 3. Cross Section Through DD22-YA187

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_004full.jpg

Figure 4. Cross Section Through DD22-YA188

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https://images.newsfilecorp.com/files/1508/154983_8712c09ff47e38fd_005full.jpg

1 True widths remain unknown, but are estimated to be in the 50-75% range of the reported drilled interval. The interval was calculated assuming a cutoff of 0.5 g/t gold.
2 Mineralization being defined as samples containing > 0.1 g/t gold.
3 Independent Geological Report for MGT Mining Ltd, 2010. https://www.nsx.com.au/ftp/news/021723444.PDF. EMX has not performed sufficient work to verify historical sample results and production figures, however, from EMX’s field reviews of the Yarrol property, these data are considered to be reliable and relevant.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/154983

Categories
Base Metals Energy Junior Mining Precious Metals Uncategorized

Silver Bullet Mines Corp. Assays 270.6 Ounces per Ton Silver in Upper Vein at Buckeye Mine in Arizona

Burlington, Ontario–(Newsfile Corp. – February 15, 2023) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (‘SBMI’ or ‘the Company’) announces strong initial assay results from the interception of the upper main vein at the Buckeye Mine near Globe, Arizona.

The vein was intercepted approximately 380 feet from the entrance to the adit. Immediately on contact with the vein, the first significant assays from the vein were 43, 178.6, and 270.6 ounces silver per ton. The samples yielding these results did not include material from the footwall. The samples were selected at random from the mineralized material removed from the vein and then were sent to SBMI’s assay lab for processing.

Recent Sample from Buckeye Mine

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https://images.newsfilecorp.com/files/8464/154863_6f1d374244454afb_001full.jpg

The Company is now mining along the exposed vein with assay results pending from the face. SBMI has extended the workings to 420 feet from the entrance to the adit, the vein is ten feet wide and eleven feet high, and the footwall is estimated by the field team to be four feet wide.

SBMI has stockpiled in excess of 450 tons of vein material at surface at the Buckeye Mine site, for shipment to the mill. The Company is mining 150 to 200 tons of mineralized material per day, although this rate will vary. The Company believes it has achieved the targetted grade necessary to support processing this material at the Company’s mill and to then pour dore bars or create concentrate. Both the dore bars and the concentrate will saleable product, and the Company does not expect to encounter any significant difficulties in finding buyers for those products.

SBMI is also pleased to announce it has begun to resolve the issues with pouring dore bars from this material. The picture below shows a malformed dore bar from September, 2022.

Malformed dore bar from Sept, 2022

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8464/154863_6f1d374244454afb_002full.jpg

The Company thanks Dr. Andrew Macdonald, a mineralogist with Harquail School of Earth Sciences at Laurentian University, for his assistance. Initial results from his work indicate the presence of a highly magnetic iron alloy in the mineralized material. The iron alloy smelts at temperatures of over 3000 degrees F, which is above the silver smelting temperature of roughly 1800 degrees F, and therefore it interferes with the silver smelting process. SBMI has confirmed this thesis by using a high intensity magnet to pull the iron alloy from the concentrate prior to smelting. The dore bar below, poured in February, 2023, resulted from concentrate after the iron alloy was removed.

Dore bar poured after the iron alloy was removed; Feb 2023

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As a result, the Company intends to permanently install a high intensity magnetic separator in the milling operation to improve the likelihood the Company can smelt silver dore bars. The Company intends to store the magnetic concentrates for future research. Continued research will be needed.

The Company is still awaiting the check assay results from American Assay Labs and Actlabs.

SBMI’s near term goal is to process the higher grade material at the Company’s mill to produce saleable product.

QAQC

All the samples above were collected by SBMI’s field team. Samples were collected and placed in sample bags with their appropriate tag and processed at the Company’s own assay lab. Like any responsible producer, the Company owns its own assay lab and regularly takes samples as part of its production process.

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

Readers should be aware that the SBMI facilities have been designed for quick production grade control and are not ISO compliant; however, duplicate sampling with other ISO labs has been done on past samples with good correlation.

Mr. Robert G. Komarechka, P.Geo., an independent consultant, has reviewed and verified SBMI’s work referred to herein, and is the Qualified Person for this release.

For further information, please contact:

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

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

Cautionary and Forward-Looking Statements

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

By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of mineralized material; the presence of mineable economic mineralized material; 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 pathogens 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/154863

Categories
Base Metals Energy Junior Mining Precious Metals

Collective Mining Step-Out Drilling Intersects 601.65 Metres at 1.40 g/t Gold Equivalent and Extends the Main Breccia System at Apollo to the West and Depth

  • Step-out drill hole APC-28, which was drilled to the west from the eastern side of the Main Breccia system at Apollo cut the longest intercept to date as follows:
  • As a result of APC-28, the maximum width and vertical dimensions of the Main Breccia system have increased to 395 metres (previously 350 metres) and 915 metres (previously 825 metres), respectively.
  • Drill hole APC-28 bottomed while still in mineralization indicating that the Main Breccia system remains open for expansion to the west and at depth (as well as to the east and north based on previously announced assay results).
  • Hole APC-30 was drilled southwards on the western side of the deposit and intercepted the Main Breccia system over a broad interval as follows:
  • Four holes have now been completed into the Main Breccia system as part of the 2023 Phase II drill program at the Guayabales project. All four holes appear to have intercepted the Main Breccia system with mineralization beginning from surface.  Assay results for these holes are expected in the near term.

Ari Sussman, Executive Chairman commented: “The Main Breccia system at Apollo continues to yield positive surprises. The Company drilled three long holes in 2022, APC-17, APC-22 and APC-28, with each hole expanding the size of the deposit and bottoming while still in mineralization. In addition, 2023 drilling is off to an excellent start with the initial four holes testing the Main Breccia system all intersecting mineralization beginning at surface. Our aim for 2023 is to define the newly discovered high-grade and near surface mineralization while continuing to be aggressive with expansion drilling. Without question, we have discovered a large copper-silver-gold deposit in a mining friendly jurisdiction of Colombia which will play a vital role in the country’s aggressive decarbonization goals.”

TORONTO, Feb. 15, 2023 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce assay results from a further three holes drilled into the Main Breccia system at the Apollo target (“Apollo”), which is part of the Guayabales project located in Caldas, Colombia. The Main Breccia is a high-grade, bulk tonnage copper-silver-gold porphyry-related system, which owes its excellent metal endowment to multiple phases of mineralization which includes older copper-silver-gold porphyry mineralization and younger, overprinting, low and intermediate sulphidation, precious metal rich sheeted carbonate base metal vein systems.

Details (See Table 1 and Figures 1–5)

Assay results for all thirty-one diamond drill holes from the Phase I drilling program for 2022 have now been announced at Apollo. The Phase II drilling program for 2023 is advancing on schedule with assay results for the first holes expected in the near term. This press release summarizes assay results of the final three diamond drill holes from the Phase I program with results summarized below.

APC-28 was a step-out hole drilled steeply to the west from Pad 2 to a maximum depth of 956.35 metres (915 metres vertical) and was designed to test western and depth extensions to the Main Breccia system. The hole intersected the longest interval drilled to date within the system, commencing at 354.70 metres down hole (335 vertical) and averaging:

  • 601.65 metres @ 1.4 g/t gold equivalent and including internal intervals of:

The mineralized angular breccia of this intercept represents the largest accumulation of metal returned to date within the Main Breccia system and contains a sulphide matrix which includes 0.5% up to 2.5% chalcopyrite and between 1% and 3% pyrite plus some pyrrhotite. The breccia has been overprinted by zones of carbonate and base metal (sphalerite and galena) veins, which yield the higher gold equivalent intervals. APC-28 stopped in mineralized breccia due to rig constraints. This hole has extended the main breccia westwards by 115 metres and is the deepest intercept drilled to date outlining continuity of mineralized breccia to a vertical depth of approximately 915 metres below surface. APC-28 also represents the westernmost hole drilled into the Main Breccia system and demonstrates that the mineralization is thickening with depth and has an inverted funnel morphology as outlined in Figure 2 below. This western area of the deposit remains open for expansion as the hole stopped in strong mineralization.

As a result of drill hole APC-28, the overall volume of rock in which the Main Breccia system is located has grown in width to 395 metres (from 350 metres) and a vertical dimension of 915 metres (from 825 metres). The strike of the system remains the same at 385 metres.

APC-30 was drilled southwards from Pad 4 to a total length of 589 metres downhole and intersected mineralized breccia from 267.60 metres downhole (240 metres vertical), averaging:

  • 318.85 metres @ 1.10 g/t gold equivalent and including internal intervals of:

Gold, silver and copper mineralization relates to sulphides hosted within the angular breccia matrix with average concentrations of pyrite (2%) and chalcopyrite (0.5%). An upper zone of 60.8 metres bearing 2% to 3% chalcopyrite was intercepted at the beginning of the mineralized interval and a sheeted and overprinting sphalerite rich CBM vein zone of 81.4 metres was encountered from 472.3 metres downhole.

Reconnaissance hole APC-27 was drilled due east away from the Main Breccia system to test outcropping mineralization at surface. From 300.40 metres downhole (210 metres vertical depth) the Company intersected a new zone of continuous low-grade mineralization with assay results as follows:

  •  

Core logging of the breccia system at Apollo by the Company’s geologists has identified that the crackle breccia as seen in this newly discovered zone, is typically found both above and on the periphery of the more intensely mineralized angular breccia phase. As a result of this assessment, the Company may have drilled over top of an angular breccia zone with stronger mineralization than was intercepted in APC-27. Further exploratory drilling will be undertaken in this area.

The Company’s Phase II 2023 program is well underway with three rigs focused on drilling near surface, high grade mineralization below mineralized outcrops in the southern and central areas of the Main Breccia system from newly constructed pads 6 and 7. To date, four shallow holes have been completed and confirm continuous mineralized angular breccia from surface. Three of these holes were drilled from Pad 6 and were terminated while still in strong mineralization. The fourth hole from Pad 7 appears to have drilled out the east side of the system indicating a more vertical orientation to the system that was previously modelled. Assay results are expected in the near term.

The Apollo target area, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers a 1,000 metres X 1,200 metres area. The Apollo target area hosts the Company’s Main Breccia system and multiple additional untested breccia, porphyry and vein targets. The overall Apollo target area also remains open for further expansion.

Table 1: Apollo Target Assays Results for Holes APC-27, APC-28, and APC-30

Hole IDFrom
(m)		To
 (m)		Intercept
(m)		Au
(g/t)		Ag
(g/t)		Cu
%		Mo
%		AuEq
(g/t) *
APC-27299.50372.4072.900.3060.020.0020.44
APC-28286.60305.5518.951.11120.040.0011.30
And354.70956.35601.650.89240.100.0011.40
Incl354.70614.65259.951.21430.200.0012.15
713.10772.8059.702.04150.140.042.23
863.15868.805.652.00130.040.0012.17
APC-30267.60586.25318.650.61190.120.0021.10
Incl267.60328.4060.800.17480.400.0021.64
472.30553.7081.401.95180.040.0022.22
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.016 x 0.95) + (Cu (%) x 1.83 x 0.95)+ (Mo (%)*9.14 x 0.95) and CuEq (%) is calculated as follows:  (Cu (%) x 0.95) + (Au (g/t) x 0.51 x 0.95) + (Ag (g/t) x 0.01 x 0.95)+ (Mo(%)x 3.75 x 0.95) utilizing metal prices of Cu – US$4.00/lb, Ag – $24/oz Mo US$20.00/lb and Au – US$1,500/oz and recovery rates of 95% for Au, Ag, Mo and Cu. Recovery rate assumptions are speculative as no metallurgical work has been completed to date.
** A 0.2 g/t AuEq cut-off grade was employed with no more than 15% internal dilution. True widths are unknown, and grades are uncut.
Figure 1: Plan View of the Main Breccia System at Apollo Highlighting Drill Holes APC-27, APC-28, APC-30 and Visual Results for APC-31, APC-33, APC-35 and APC-36 (CNW Group/Collective Mining Ltd.)
Figure 1: Plan View of the Main Breccia System at Apollo Highlighting Drill Holes APC-27, APC-28, APC-30 and Visual Results for APC-31, APC-33, APC-35 and APC-36 (CNW Group/Collective Mining Ltd.)
Figure 2: East-West Cross Section Highlighting APC-28, ACP-30, and Visual Results for APC-31 (CNW Group/Collective Mining Ltd.)
Figure 2: East-West Cross Section Highlighting APC-28, ACP-30, and Visual Results for APC-31 (CNW Group/Collective Mining Ltd.)
Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 3: Plan View of the Guayabales Project Highlighting the Apollo Target (CNW Group/Collective Mining Ltd.)
Figure 4: Core Photo Highlights from Drill Hole APC-28 (CNW Group/Collective Mining Ltd.)
Figure 4: Core Photo Highlights from Drill Hole APC-28 (CNW Group/Collective Mining Ltd.)
Figure 5: Core Photo Highlights from Drill Hole APC-30 (CNW Group/Collective Mining Ltd.)
Figure 5: Core Photo Highlights from Drill Hole APC-30 (CNW Group/Collective Mining Ltd.)

About Collective Mining Ltd.

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

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the Apollo target, which hosts the large-scale, bulk-tonnage and high-grade copper, silver, and gold Main Breccia system. The Company’s near-term objective is to continue with expansion drilling of the Main Breccia system while increasing confidence in the highest-grade portions of the system.

Management, insiders and close family and friends own nearly 52% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

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.

Information Contact:

Follow Executive Chairman Ari Sussman (@Ariski) and Collective Mining (@CollectiveMini1) on Twitter

FORWARD-LOOKING STATEMENTS

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

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

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

SOURCE Collective Mining Ltd.

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Categories
Base Metals Energy Junior Mining Precious Metals

Stillwater Critical Minerals Partners with Cornell University on Hydrometallurgy and Carbon Sequestration Initiatives for its Stillwater West Ni-PGE-Cu-Co + Au Project in Montana, USA

VANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Stillwater Critical Minerals (TSX.V:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) is pleased to announce it has partnered with Cornell University under the MINER program, funded by the U.S. Department of Energy (“DOE”) via the Advanced Research Projects Agency program (“ARPA-E”). Test work, led by Dr. Greeshma Gadikota, will focus on novel hydrometallurgical techniques and carbon capture, with the objective of increasing the extraction of critical minerals using reduced energy for a carbon negative mining future.

Cornell University is the recipient of a federal grant from ARPA-E as part of a program entitled “Supercritical CO2-Based Mining for Carbon-Negative Critical Mineral Recovery”. Cornell University seeks to advance CO2-sourced hydrometallurgical pathways for recovering energy critical metals, including nickel, cobalt, platinum and palladium, coupled to the carbon mineralization of calcium and magnesium components to produce calcium and magnesium carbonates. Novel functional materials for the selective capture and recovery of these energy critical metals will be developed. Various sources for CO2 will be investigated including air for metal recovery coupled to carbon mineralization. These approaches will be specifically tuned to the mineralogy of the Company’s Stillwater West project in Montana.

Stillwater Critical Minerals, Tuesday, February 14, 2023, Press release picture
Stillwater Critical Minerals, Tuesday, February 14, 2023, Press release picture

Dr. Greeshma Gadikota

Dr. Greeshma Gadikota stated, “The U.S. imports the great majority of its energy critical metals from mines all over the world, leaving the U.S. quite vulnerable. Our research is all about decarbonizing the mining industry and developing an independent, domestic supply chain of these critical metals. It’s important for U.S. manufacturing, green energy, national security, and competitiveness.”

Relating to the Cornell University partnership, Company President and CEO, Michael Rowley, will join Dr. Gadikota at the ARPA-E MINER kick-off event in Austin, Texas on February 14 and 15, 2023. Other presenters and attendees include Tesla Motors, major mining companies, top US government officials and financial institutions. More information on the MINER program is available here: https://arpa-e.energy.gov/technologies/programs/miner.

Michael Rowley, Stillwater Critical Minerals President & CEO, stated, “We are very pleased to be selected as the industry partner for Dr. Gadikota’s cutting-edge work and to work closely with her team toward our shared vision of securing the future domestic supply of the critical minerals the US so urgently needs. Our Stillwater West project is rapidly advancing as a potential large-scale, low-carbon source of nickel, copper, cobalt, palladium, platinum and rhodium. Located in an active and expanding US mining district with a long history of critical minerals production and demonstrated world-class scale and grade, Stillwater West is on a very short list of assets with the potential to play a significant role in realizing the goals set out in the bipartisan Inflation Reduction Act, and other ongoing initiatives. It is our belief that mining can do more than supply minerals by conventional means, and that partnerships such as this are the path toward more sustainable practices.”

About Dr. Greeshma Gadikota

Dr. Greeshma Gadikota is an Assistant Professor and Croll Sesquicentennial Fellow in the School of Civil and Environmental Engineering with a field appointment in the Smith School of Chemical and Biomolecular Engineering at Cornell University. Dr. Gadikota directs the Sustainable Energy and Resource Recovery Group. She held postdoctoral research associate appointments at Princeton University and Columbia University, and a research associate appointment at the National Institute of Standards and Technology (NIST). Her PhD in Chemical Engineering and MS degrees in Chemical Engineering and Operations Research are from Columbia University. Her BS in Chemical Engineering is from Michigan State University. She is a recipient of the DOE, NSF and ARO CAREER Awards, Sigma Xi Young Investigator Award, Cornell Engineering Research Excellence Award, Inaugural Cornell Rising Women Innovator Award, and AICHE Sabic Award for Young Professionals from the Particle Technology Forum. Dr. Gadikota received her PhD in Chemical Engineering and earned her MS degrees in Chemical Engineering and Operations Research, from Columbia University. Her BS in Chemical Engineering is from Michigan State University.

Research Interests

With more than 80% of our energy resources recovered from the subsurface environments which requires about 50 billion cubic meters of fresh water and contributes to more than 75% of global CO2 emissions, our grand societal challenge lies in meeting our growing demand for energy and resources while reducing environmental impact. Addressing these earth-scale challenges requires us to develop novel technologies to engineer targeted physico-chemical interactions in complex engineered and natural environments. Enabling emergent technologies for a sustainable earth requires us to advance the cross-scale science of fluid-solid interactions in complex and extreme environments. With this perspective, our research is directed towards applications that involve (i) engineering the natural environment for sustainable energy and resource recovery and (ii) designing novel chemical pathways for advancing low carbon and negative emissions technologies.

About ARPA-E

The Advanced Research Projects Agency-Energy (ARPA-E advances high-potential, high-impact energy technologies that are too early for private-sector investment. ARPA-E awardees are unique because they are developing entirely new ways to generate, store, and use energy. ARPA-E projects have the potential to radically improve U.S. economic prosperity, national security, and environmental well-being. We focus on transformational energy projects that can be meaningfully advanced with a small amount of funding over a defined period of time. Our streamlined awards process enables us to act quickly and catalyze cutting-edge areas of energy research.

ARPA-E empowers America’s energy researchers with funding, technical assistance, and market readiness. Our rigorous program design, competitive project selection process, and active program management ensure thoughtful expenditures. ARPA-E Program Directors serve for limited terms to ensure a constant infusion of fresh thinking and new perspectives. To learn more visit: https://arpa-e.energy.gov/.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West Ni-PGE-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the on-going production of platinum group and other metals by neighboring Sibanye-Stillwater. Per an expanded NI 43-101 mineral resource estimate released January 2023, the Platreef-style nickel and copper sulphide deposits at Stillwater West contain 1.6 billion pounds of nickel, copper and cobalt, and 3.8 million ounces of palladium, platinum, rhodium, and gold, in a compelling suite of critical minerals and are open for expansion along trend and at depth.

Stillwater Critical Minerals also holds the high-grade Black Lake-Drayton Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario, currently under an earn-in agreement with Heritage Mining, and the Kluane PGE-Ni-Cu-Co critical minerals project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

Note 1: References to adjoining properties are for illustrative purposes only and are not necessarily indicative of the exploration potential, extent or nature of mineralization or potential future results of the Company’s projects.

Note 2: Magmatic Ore Deposits in Layered Intrusions-Descriptive Model for Reef-Type PGE and Contact-Type Cu-Ni-PGE Deposits, Michael Zientek, USGS Open-File Report 2012-1010.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director

Email: info@criticalminerals.com Phone: (604) 357 4790

Web: http://criticalminerals.com Toll Free: (888) 432 0075

Forward-Looking Statements

Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Stillwater Critical Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Stillwater Critical Minerals and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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

SOURCE: Stillwater Critical Minerals

Categories
Base Metals Energy Junior Mining Precious Metals

Bravo Discovers New Nickel-rich Zone in Luanga’s Central Sector and Extends Footprint of Nickel/Copper-rich Zone in Luanga’s North Sector

Highlights include 27.7m @ 0.62g/t PGM+Au, 0.62% Ni (Including 4.6m @ 1.12g/t PGM+Au plus 1.12% Ni),

And: 25.3m @ 1.14g/t PGM+Au, 0.42% Ni, 0.34% Cu (Including 3.4m @ 2.12g/t PGM+Au, 0.84% Ni, 0.34% Cu)

VANCOUVER, BC, Feb. 14, 2023 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (“Bravo” or the “Company“) announced that it has received assay results from eight diamond drill holes (“DDH”) in the Central and North Sectors  highlighting the nickel sulphide potential of its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga” or “Luanga PGM+Au+Ni Project“), located in the Carajás Mineral Province, state of Pará, Brazil. Two DDH in the Central Sector have identified a new zone and style of nickel sulphide mineralization. Follow up drilling to the previously announced massive sulphide intercept in the North Sector (August 16th, 2022 news release) has intersected higher-grade nickel sulphide 50m to the north and south, with evidence indicating potential extensions toward the south.

“Today’s results demonstrate the potential for higher-grade nickel ± copper sulphides at Luanga, underlie the existing ~8.1km strike of PGM+Au+Ni mineralization intersected in shallow historic drilling,” said Luis Azevedo, Chairman and CEO of Bravo. “We are at the early stages of understanding the distribution of, and controls on, this potential new style of nickel ± copper sulphide mineralization, which has now been intersected in both the North and Central Sectors,” he said. “We are very positive about the potential below Luanga and have deployed geophysical tools aimed at detecting this style of mineralization. Work is continuing and aims to drill test future geophysical targets in 2023.”

Highlights Include:

  • Follow up, step-out drilling to the massive nickel/copper sulphides intercepted in DDH22LU047 (August 16th, 2022 news release) intersected nickel/copper sulphides along strike, 50m to the north and to the south. Electromagnetics (EM) has identified conductors trending to the south where surface EM is ongoing.
  • Drilling in the Central Sector of Luanga has intersected a new zone and style of nickel sulphide mineralization, potentially magmatic nickel sulphide mineralization. It occurs within a different rock-type than the PGM+Au+Ni mineralization at Luanga – further increasing the exploration prospectivity of Luanga. EM surveying is expected to begin shortly.
  • A noticeable change in PGM chemistry (significantly higher rhodium to palladium ratio) has been identified in most assay results from both nickel sulphide zones. This also points to a new style of mineralization and provides another possible vector into higher nickel sulphide zones.
HOLE-IDFrom(m)To(m)Thickness
(m)		Pd(g/t)Pt(g/t)Rh(g/t)Au (g/t)PGM + Au (g/t)Ni (% Sulphide)Cu (%)Sector
DDH22LU039128.2155.927.70.400.100.110.010.620.42Cent.
Including128.2132.84.60.740.120.250.011.121.12Cent.
Including130.2131.21.01.080.250.510.011.852.08Cent.
DDH22LU04949.674.925.30.680.220.130.121.140.400.23North
Including66.970.33.41.180.520.290.122.120.840.34North
DDH22LU052151.0158.17.10.690.040.300.111.130.820.45North
Including151.0153.82.80.760.020.390.011.181.090.22North
DDH22LU061102.4103.61.20.550.040.310.151.051.18Cent.
DDH22LU073136.9155.818. 90.960.290.020.021.300.41North
Including150.8153.83.02.570.500.040.023.141.15North
DDH22LU077169.4175.56.10.570.040.330.020.960.63North
Including169.4171.31.91.330.050.84*0.042.27*1.47North
Including170.6171.30.71.540.04>1.0*0.012.59*2.27North
Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
             All intercepts were in fresh rock.
             Given the orientation of the hole and the mineralization, the intercepts are estimated to be 85% to 100% of true thickness.
             * Includes Rh >1.00g/t result. Overlimit analyses pending.
             North = North Sector. Cent. = Central Sector.
           ** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.

Central Sector Magmatic Nickel Sulphide Exploration Upside

Drilling in the Central Sector (holes DDH22LU039 and DDH22LU061) identified a second zone of more concentrated magmatic sulphides, a style of mineralization not previously observed at Luanga in historic drilling. This style of mineralization features net-textures typical of magmatic nickel sulphide mineralization (Figure 1).

Figure 1: Core photos from Central Sector (039) and North Sector (049 and 052) with nickel ± copper sulphide mineralization. (CNW Group/Bravo Mining Corp.)
Figure 1: Core photos from Central Sector (039) and North Sector (049 and 052) with nickel ± copper sulphide mineralization. (CNW Group/Bravo Mining Corp.)

The Central Sector higher-grade magmatic nickel sulphide mineralization appears to be coincident with the main Luanga PGM mineralization but appears to have increasing concentrations of nickel sulphides to depth, while historic nickel-in-soil geochemistry (Figure 2) indicates that nickel sulphide mineralization may be gently diverging away from the strike of the PGM+Au mineralization. This style of mineralization has only been identified in this area of the Luanga deposit to date and is hosted in the basal sequence of harzburgites (ultramafic rocks) that underlie the dominant Luanga orthopyroxenite PGM+Au host rock.

Surface EM completed by Bravo in late 2022 is being extended to the southeast to look deeper into the basal harzburgite sequence (Figure 3) that underlies the main PGM+Au+Ni mineralization, beyond the extent of current drilling.

The Central Zone assay results (reported in this news release) from drill holes DDH22LU039 and DDH22LU061 demonstrate a noticeable change in PGM chemistry, where the Pd:Rh ratios range from 4:1 to <2:1. This is a significant divergence from the majority of existing drill holes across the 8.1km of the main Luanga PGM+Au mineralized zone, where the Pd:Rh ratio is typically ~10:1. There could also be a relationship between magmatic nickel and rhodium (high rhodium values highlighted in the table above). This, combined with the identification of a different host rock, is further supporting evidence of a new style or phase of mineralization that is more typically associated with magmatic nickel sulphide deposits. Mineralization remains open at depth (Figure 3) and along strike.

Figure 2: Nickel sulphide zone in the Central Sector, shown over historic Ni-in-soil geochemistry. (CNW Group/Bravo Mining Corp.)
Figure 2: Nickel sulphide zone in the Central Sector, shown over historic Ni-in-soil geochemistry. (CNW Group/Bravo Mining Corp.)

DDH22LU039 is shown in the section below (Figure 3), where the concentration of magmatic nickel sulphides and nickel assay grades increase (from west to east) from DDH22LU054 where fresh rock mineralization has no significant nickel to report, to DDH22LU039 where magmatic nickel sulphides and assay grades reach their current peak.

Figure 3: Central Zone cross section showing the increase in nickel grade to the southeast (open at depth). (CNW Group/Bravo Mining Corp.)
Figure 3: Central Zone cross section showing the increase in nickel grade to the southeast (open at depth). (CNW Group/Bravo Mining Corp.)

Follow Up on North Sector Massive Magmatic Nickel ± Copper Sulphide Discovery

Follow up drilling to the north and south of the previously announced massive magmatic nickel ± copper sulphide mineralization in DDH22LU047 (August 16th, 2022 news release) in the North Sector has continued to intersect magmatic nickel sulphide mineralization.

New drill results indicate that the nickel ± copper mineralization is coincident with the main Luanga PGM+Au+Ni deposit, but that higher concentrations of nickel and copper are at depth. Alternatively, this mineralization style may be unrelated to the emplacement of the PGM portion of Luanga and related to a different, as yet unidentified, phase of mineralization at depth.

Higher-grade sulphide mineralization and EM anomalism is open to the south (Figure 4) but appears to taper off to the north. Like the Central Sector above, it may also be diverging away from the strike of the PGM+Au mineralization and occur below historic drilling to the south. This interpretation is supported to the southern limit of the current EM survey and is coincident with historic nickel-in-soil geochemistry (Figures 4 and 5).

Most assay results demonstrate the same noticeable change in PGM chemistry as the higher-grade magmatic sulphide mineralization intersected in the Central Zone, with Pd:Rh ratios ranging from to 5:1 to <2:1. As highlighted above this may indicate potential for a different phase or style of mineralization at depth.

Figure 4: Nickel ± copper sulphide zone in the North Sector, shown over historic Ni-in-soil geochemistry. (CNW Group/Bravo Mining Corp.)
Figure 4: Nickel ± copper sulphide zone in the North Sector, shown over historic Ni-in-soil geochemistry. (CNW Group/Bravo Mining Corp.)
Figure 5: North Sector Cross Section showing new drill holes DDH22LU052 and DDH22LU049 (open at depth). (CNW Group/Bravo Mining Corp.)
Figure 5: North Sector Cross Section showing new drill holes DDH22LU052 and DDH22LU049 (open at depth). (CNW Group/Bravo Mining Corp.)

Luanga Drill Program Progress

A total of 144 drill holes (9 in 2023) have been completed by Bravo to date, for 23,950 metres (94% of the planned 25,500 metre Phase 1 Drilling Program), including all 8 planned twin holes (results for 2 twin holes outstanding) and all 8 metallurgical holes (not for routine assaying). Results have been reported for 60 Bravo drill holes to date.

Results for 76 Bravo drill holes are currently outstanding.

The Phase 1 diamond drill program is close to completion, with 1,550m remaining before the commencement of the Phase 2 diamond drill program. The Phase 2 program will be focused on step out drilling (with the objective of extending known zones of PGM+Au+Ni mineralization to depth), follow-up on the newly identified higher-grade nickel ± copper magmatic sulphide mineralization styles, as well as exploration of new targets.

Aside from systematic step-out drilling, the Phase 2 program is designed to support a more intensive approach to exploration, with work to focus on exploring for magmatic nickel ± copper sulphides. This program will commence with an extensive program of geophysics consisting of ground EM, ground micro-gravity and ground magnetics. Targets generated would be drill tested during the Phase 2 program. Phase 2 will also include ongoing metallurgical test work designed to confirm and optimize metallurgical results reported by Vale SA., Luanga’s previous owner.

The key deliverable expected from the Phase 1 program is Luanga’s maiden NI 43-101 Mineral Resource Estimate (MRE). Approximately 3,600m of priority drilling remains to be completed to facilitate this work, including the balance of the Phase 1 program and a portion of the Phase 2 program. Completion of the maiden MRE remains on track for H2/2023.

Complete Table of Recent Intercepts

HOLE-IDFrom(m)To(m)Thickness
(m)		Pd(g/t)Pt(g/t)Rh(g/t)Au
(g/t)		PGM + Au
(g/t)		Ni (%
Sulphide)		Cu
(%)		TYPE
DDH22LU03941.261.221.00.540.190.000.110.830.15FR
And80.1106.226.10.560.220.000.140.920.20FR
Including91.298.27.00.441.110.010.171.720.32FR
And128.2155.927.70.400.100.110.010.620.42FR
Including128.2132.84.60.740.120.250.011.121.12FR
Including130.2131.21.01.080.250.510.011.852.08FR
And161.9166.95.00.350.150.070.010.580.23FR
DDH22LU0498.716.78.00.710.260.020.101.08NAOx
And49.674.925.30.680.220.130.121.140.400.23FR
Including49.658.38.70.790.190.090.191.260.380.36FR
Also Including66.970.33.41.180.520.290.122.120.840.34FR
And78.492.414.00.420.140.040.080.680.230.22FR
DDH22LU052151.0158.17.10.690.040.300.111.130.820.45FR
Including151.0153.82.80.760.020.390.011.181.090.22FR
Also Including154.3158.13.80.730.050.270.191.240.730.68FR
And161.9164.52.60.580.060.280.010.940.720.26FR
And199.0215.216.20.400.460.030.010.890.320.09FR
DDH22LU06159.365.86.50.490.190.000.130.810.09FR
And88.591.53.00.900.300.000.241.440.19FR
And102.4103.61.20.550.040.310.151.051.18FR
And121.3127.36.00.260.140.030.090.520.21FR
And139.0150.811.80.270.100.020.020.410.18FR
DDH22LU06839.542.53.01.350.730.100.012.180.07FR
And54.462.27.80.330.100.020.010.450.30FR
DDH22LU073113.6116.83.20.890.440.030.011.370.39FR
And127.8129.51.70.895.110.050.016.060.32FR
And136.9155.818. 90.960.290.020.021.300.41FR
Including150.8153.83.02.570.500.040.023.141.15FR
DDH22LU077169.4175.56.10.570.040.330.020.960.63FR
And169.4171.31.91.330.050.84*0.042.27*1.47FR
Including170.6171.30.71.540.04>1.0*0.012.59*2.27FR
And204.1207.13.00.270.010.000.010.280.29FR
And220.1232.112.00.280.130.020.030.460.12FR
DDH22LU079179.3199.320.00.230.110.040.010.390.19FR
including196.3199.33.00.580.180.120.010.880.51FR
Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
             Given the orientation of the hole and the mineralization, the intercepts are estimated to be 85% to 100% of true thickness.
             Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
             * = Includes Rh >1.00g/t result. Overlimit analyses pending.
** = Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays
Figure 6: Location of Bravo Drilling Reported in this News Release (CNW Group/Bravo Mining Corp.)
Figure 6: Location of Bravo Drilling Reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

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

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

Technical Disclosure

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

Forward Looking Statements

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “rich”, “extends”, “new zone”, “potential”, “higher-grade”, “very positive”, “concentrated“, “noticeable change”, “majority”, “new style“, “significant“, “intensive approach“, “extensive“, “optimize“, “yet unidentified”, “objective” and other similar words, phrases, or statements that certain events or conditions “may”, “should”, “will” or “would” occur. This news release contains forward-looking information pertaining to the Company’s ongoing re-sampling and drill programs and the results thereof; the expected completion of geophysical surveys and the results of such surveys; the potential for the definition o new styles of mineralization and extensions to depth and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, 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 that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that grades are improving to depth, that final drill and assay results will be in line with management’s expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-IDCompanyEast (m)North (m)RL (m)DatumDepth (m)AzimuthDipSector
DDH22LU039Bravo658669.939340730.09262.74SIRGAS2000 UTM22S177.70330.00-60.00Central
DDH22LU049Bravo659975.119342475.00270.59SIRGAS2000 UTM22S159.3090.00-60.00North
DDH22LU052Bravo659825.809342475.01274.16SIRGAS2000 UTM22S233.2090.00-60.00North
DDH22LU061Bravo658595.919340659.10271.55SIRGAS2000 UTM22S191.00330.00-60.00Central
DDH22LU068Bravo659900.119342525.01280.91SIRGAS2000 UTM22S251.0090.00-60.00North
DDH22LU073Bravo659900.099342425.00273.40SIRGAS2000 UTM22S270.8590.00-60.00North
DDH22LU077Bravo659824.969342524.96279.74SIRGAS2000 UTM22S264.2090.00-60.00North
DDH22LU079Bravo659822.309342425.01270.84SIRGAS2000 UTM22S250.5090.00-60.00North


Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas ALS laboratory by Bravo staff. Additional information about the methodology can be found on the ALS global website (ALS) in the analytical guides.

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

Bravo ALS
PreparationMethodMethodMethodMethodMethod
For All ElementsPt, Pd, AuRhNi-SulphideCuTrace Elements
PREP-31DHPGM-ICP27Rh-MS25Ni-ICP05OG-62ME-ICP61
Bravo Mining LOGO (CNW Group/Bravo Mining Corp.)
Bravo Mining LOGO (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Categories
Base Metals Energy Junior Mining Precious Metals

The Key Minerals in an EV Battery

Breaking Down the Key Minerals in an EV Battery

Inside practically every electric vehicle (EV) is a lithium-ion battery that depends on several key minerals that help power it.

Some minerals make up intricate parts within the cell to ensure the flow of electrical current. Others protect it from accidental damage on the outside.

This infographic uses data from the European Federation for Transport and Environment to break down the key minerals in an EV battery. The mineral content is based on the ‘average 2020 battery’, which refers to the weighted average of battery chemistries on the market in 2020.

The Battery Minerals Mix

The cells in the average battery with a 60 kilowatt-hour (kWh) capacity—the same size that’s used in a Chevy Bolt—contained roughly 185 kilograms of minerals. This figure excludes materials in the electrolyte, binder, separator, and battery pack casing.

MineralCell PartAmount Contained in the Avg. 2020 Battery (kg)% of Total
GraphiteAnode52kg28.1%
AluminumCathode, Casing, Current collectors35kg18.9%
NickelCathode29kg15.7%
CopperCurrent collectors20kg10.8%
SteelCasing20kg10.8%
ManganeseCathode10kg5.4%
CobaltCathode8kg4.3%
LithiumCathode6kg3.2%
IronCathode5kg2.7%
TotalN/A185kg100%

The cathode contains the widest variety of minerals and is arguably the most important and expensive component of the battery. The composition of the cathode is a major determinant in the performance of the battery, with each mineral offering a unique benefit.

For example, NMC batteries, which accounted for 72% of batteries used in EVs in 2020 (excluding China), have a cathode composed of nickel, manganese, and cobalt along with lithium. The higher nickel content in these batteries tends to increase their energy density or the amount of energy stored per unit of volume, increasing the driving range of the EV. Cobalt and manganese often act as stabilizers in NMC batteries, improving their safety.

Altogether, materials in the cathode account for 31.3% of the mineral weight in the average battery produced in 2020. This figure doesn’t include aluminum, which is used in nickel-cobalt-aluminum (NCA) cathode chemistries, but is also used elsewhere in the battery for casing and current collectors.

Meanwhile, graphite has been the go-to material for anodes due to its relatively low cost, abundance, and long cycle life. Since the entire anode is made up of graphite, it’s the single-largest mineral component of the battery. Other materials include steel in the casing that protects the cell from external damage, along with copper, used as the current collector for the anode.

Minerals Bonded by Chemistry

There are several types of lithium-ion batteries with different compositions of cathode minerals. Their names typically allude to their mineral breakdown.

For example:

  • NMC811 batteries cathode composition:
    80% nickel
    10% manganese
    10% cobalt
  • NMC523 batteries cathode composition:
    50% nickel
    20% manganese
    30% cobalt

Here’s how the mineral contents differ for various battery chemistries with a 60kWh capacity:

battery minerals by chemistry

With consumers looking for higher-range EVs that do not need frequent recharging, nickel-rich cathodes have become commonplace. In fact, nickel-based chemistries accounted for 80% of the battery capacity deployed in new plug-in EVs in 2021.

Lithium iron phosphate (LFP) batteries do not use any nickel and typically offer lower energy densities at better value. Unlike nickel-based batteries that use lithium hydroxide compounds in the cathode, LFP batteries use lithium carbonate, which is a cheaper alternative. Tesla recently joined several Chinese automakers in using LFP cathodes for standard-range cars, driving the price of lithium carbonate to record highs.

The EV battery market is still in its early hours, with plenty of growth on the horizon. Battery chemistries are constantly evolving, and as automakers come up with new models with different characteristics, it’ll be interesting to see which new cathodes come around the block.