Location map showing Midway and other gold occurrences at Kingsway.
Hole K-22-157 intersected 3.53 g/t Au over 6 metres from 37 metres including 5.71 g/t Au over 3 metres in altered and sulphidised gabbro.
The mineralization was intersected in just the third diamond drill hole at the Midway target.
Midway lies between the Appleton Fault Zone and the Dog Bay Line, approximately 2.7km North of Big Vein and 1.4km southwest of the Cracker gold occurrence.
The new discovery at Midway, along strike from the Cracker gold occurrence, opens up a potential second gold mineralized system subparallel to the Appleton Fault Zone.
TORONTO, April 19, 2022 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce a new discovery of near surface gold mineralization from diamond drilling at the Midway target at its 100% controlled Kingsway project near Gander, Newfoundland. This hole was drilled as part of the Company’s ongoing 100,000 metre drill program and represents a new target for gold at Kingsway.
Hole K-22-157 was drilled to test anomalous gold values at the Midway target and intersected 3.53 g/t Au over 6 metres from 37 metres including 5.71 g/t Au over 3 metres. Midway lies between the Appleton Fault Zone and the Dog Bay Line, two major structures in the region, approximately 2.7km north of Big Vein and represents a different mineralized system. The gold mineralization was intersected in just the third diamond drill hole at Midway. The mineralization is hosted by a strongly altered and sulphidised gabbro that intruded the siltstone and sandstone. Higher gold grades are associated with increased pyrite and arsenopyrite abundance and strong potassic feldspar, carbonate and silica alteration.
“The gold mineralization intersected at Midway represents a different style of mineralization than what we see at Big Vein. It is similar to that found at the Cracker gold occurrence approximately 1.4 kilometres northeast of Midway,“ said Roger Moss, President and CEO of the Company. “This new discovery at Midway, in addition to the gold mineralization at Cracker, opens up a potential second mineralized system at Kingsway. We know that gabbroic intrusions occur intermittently along strike to the northeast and southwest of Cracker and Midway and believe that these intrusions have come up along a structure subparallel to the Dog Bay Line and the Appleton Fault Zone. While our main focus remains generating and drilling targets along the Appleton Fault Zone, we will continue to investigate the potential of the gabbro hosted gold mineralization on the property.”
Hole ID
From (m)
To (m)
Interval (m)
Au (g/t)
K-22-157
37
43
6
3.53
including
40
43
3
5.71
Table 1. Summary of Assay Results All intersections are downhole length as there is insufficient Information to calculate true width.
Gold mineralization at both Midway and Cracker is hosted by altered gabbro. Quartz-carbonate alteration is present in both cases, with K-feldspar alteration also prominent at Midway. Disseminated pyrite and arsenopyrite are also associated with the gold mineralization. Historical grab samples from the Cracker occurrence include assays of 61.73 g/t, 33.87 g/t and 16.4 g/t Au. It is believed that these gold occurrences represent the presence of a fertile structure developed by the rheological contrast between the gabbro and the sediments forming the country rock. (Note that grab samples are select samples and are not necessarily representative of gold mineralization found on the property).
Gabbroic intrusions are known to occur along strike to the northeast and southwest of the Cracker and Midway occurrences and extend intermittently across the entire property, a distance of approximately 21 kilometres. Samples from some of these gabbros have returned anomalous gold mineralization suggesting the potential for an extensive mineralized system subparallel to the Appleton Fault Zone and the Dog Bay Line.
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
In early 2020, Labrador Gold acquired the option to earn a 100% interest in the Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 50,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone following encouraging early results. The Company has approximately $28 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belts that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 155,589,526 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact:
Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter: @LabGoldCorp
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Vancouver, British Columbia–(Newsfile Corp. – April 14, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (“EMX” or the “Company”) is pleased to announce that it has acquired an additional (effective) 0.3155% Net Smelter Return (“NSR“) royalty on the Caserones Copper-Molybdenum Mine located in northern Chile for US$25.74 million. When combined with EMX’s 0.418% NSR interest acquired in August 2021 (see EMX news release dated August 17, 2021), EMX now holds an effective 0.7335% NSR royalty. Franco-Nevada Corporation (“Franco-Nevada”) has concurrently acquired a 0.4582% (effective) NSR royalty on similar terms.
Since acquisition, Caserones has generated pre-tax cash flow to EMX in Q2, Q3 and Q4 of fiscal 2021 totalling $3.6 million from EMX’s effective 0.418% interest. As part of the royalty purchase, EMX will receive royalty distributions covering Q1 of fiscal 2022 for the additional interest acquired.
To finance its purchase of the additional NSR royalty, EMX has agreed to complete a private placement with Franco-Nevada for C$12.58 million (US$10 million). On completion, Franco-Nevada will own approximately 3.5% of the issued and outstanding shares of EMX on an undiluted basis. EMX is delighted to have Franco-Nevada as a shareholder.
Caserones Overview. The Caserones open pit mine is developed upon a significant porphyry copper-molybdenum deposit in the Atacama Region of the northern Chilean Andean Cordillera, 162 kilometres southeast of the city of Copiapó. The mine is operated by SCM Minera Lumina Copper Chile SpA (“Minera Lumina”), which is owned by JX Nippon Mining & Metals Corporation.
Caserones produces copper and molybdenum concentrates from a conventional crusher, mill and flotation plant, as well as copper cathodes from a dump leach, solvent extraction and electrowinning plant. In 2020, the mine produced 104,917 tonnes of fine copper in concentrate, 2,453 tonnes of fine molybdenum in concentrate, and 22,056 tonnes of fine copper in cathodes (results for 2021 have not yet been released by Minera Lumina). The Caserones open pit has operated with an average waste to ore strip ratio of 0.47, has an estimated 17 years remaining in its current mine plan (as at year-end 2020), along with excellent exploration potential.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Franco-Nevada%253BRoyalty_payment%253BShares_outstanding%253BCalifornia%253BCompany%253BPrivate_placement%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522238b4c30-4b4b-3615-902e-17d479fd2222%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Acquisition Details. The Caserones mine is subject to a 2.88% NSR royalty created in a 2009 agreement between SCM Minera Lumina Copper Chile S.A., as purchaser, and Compañía Minera Caserones (“CMC“) and Sociedad Legal Minera California Una de la Sierra Peña Negra (“SLM California“), as vendors. CMC and SLM California originally acquired the mineral concessions that overlie the Caserones deposit. Ownership of the 2.88% NSR royalty is currently divided between CMC (32.5%) and SLM California (67.5%). SLM California’s sole purpose is to distribute its royalty income to its shareholders as dividends and pay Chilean taxes on its income.
EMX has purchased today a further 16.23% of the shares of SLM California for US$25.74 million pursuant to share purchase agreements with existing shareholders of SLM California.
Private Placement. Franco-Nevada will purchase 3,812,121 units at C$3.30 per unit for total proceeds of C$12,580,000. Each unit will consist of one common share of the Company and one warrant to purchase one common share of the Company for five years at an exercise price of C$4.45. The shares issued upon closing and issuable upon the exercise of the warrants are and will be subject to a four-month restricted resale (hold) period. Proceeds from the placement totalling C$12,580,000 will be used towards the acquisition of the additional Caserones (effective) royalty interest.
Qualified Person. Eric P. Jensen, CPG, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators and an employee of the Company, has reviewed, verified, and approved the disclosure of the technical information contained in this news release.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@EMXroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@EMXroyalty.com
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in policies of the TSX-V) 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 completion of the transactions, perceived merits of properties, exploration results, budgets and potential, estimated mine life, mineral reserves and resource estimates, timelines, strategic plans, 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”, “upside” 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. It is possible EMX may not complete the transaction, as a result of failure to fulfill conditions of closing, unavailability of financing or for other reasons EMX cannot anticipate at this time.
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 year ended December 31, 2021 (the “MD&A”), and the most recently filed 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.
KELOWNA, BC / ACCESSWIRE / April 12, 2022 / Diamcor Mining Inc. (TSX.V:DMI), (OTCQB:DMIFF), (FRA:DC3A), (“Diamcor” or, the “Company”) announced today that the Company’s gross revenues from tenders and sales held in its fourth quarter, ending March 31, 2022, increased to (USD) $1,301,978, a 21% increase over the previous quarter. Total carats sold during the fourth quarter decreased by 12% to 4,787.89 when compared to the 5,441.88 sold in the previous quarter. This, however, was largely due to the timing of tenders during the fourth quarter, and the decision by the Company in March 2022 to retain and instead offer approximately 2,000 additional carats at upcoming tenders during the current quarter. Despite the lower volume sold during the fourth quarter ended March 31, 2022, the average dollar per carat of (USD) $271.93 achieved during the period increased by 38% over the previous quarter. The increase in the average price per carat achieved during the period was primarily due to significant price increases experienced early in the quarter which appear to be due to rough diamond shortages in various categories.
Progress of Accelerated Upgrades
The Company also announces that its efforts to increase current processing volumes and efficiencies during the last quarter continued, and further results of these efforts are expected to be realised during the current quarter. The reconfiguration and installation of the Project’s X-Ray diamond sorting units and final recovery systems remained a priority during the quarter, and these efforts, along with the installation of additional screening systems now nearing completion, remain on schedule to advance the Company’s continued increases in processing volumes. These accelerated upgrades position the Company to take advantage of any potential rough diamond shortages associated with on-going international sanctions, which may impact a significant portion of the world’s rough diamonds supply originating in Russia.
Acceleration Highlights
Processing Volume Increases – The installation of additional screening equipment to compliment the previously completed phase one upgrades and specifically increase efficiencies in the removal of soil and clay fines at the Project’s Main Treatment Plant are now nearing completion. These refinements are expected to be operational prior to the end of April 2022 and to increase current hourly feed-rates and processing volumes by approximately 60%.
Water Recovery Improvements – Initial revisions to the Project’s water recovery systems aimed at supporting additional tonnages have also been completed. The construction and delivery of a larger purpose-built water recovery system continues to progress on schedule, with delivery targeted prior to the end of the current quarter. All water recovery system additions are designed to ultimately lower water consumption on a per ton basis through improvements in the recovery of wastewater, and provide the potential for further increases to processing volumes moving forward.
Reductions in Operating Costs on a Per Ton Basis – In addition to providing the potential to increase processing volumes, the screening upgrades are expected to provide the added benefit of lowering the Project’s operating costs on a per-ton basis by reducing consumables due to added screening efficiencies. Material handling and equipment cycle times are also expected to improve.
Continued Support of Further Growth – The collective upgrades completed to date have retained much of their original design and scope to ensure they continue to support the Company’s ongoing larger growth plans.
No Disruptions to Current Operations – The installation of the upgrades to date have been completed in conjunction with ongoing processing as envisioned, and have not caused any material disruptions to operations.
“The progress made during the quarter has strategically positioned our Company with the potential to supply quality buyers with increased volumes of rough diamonds at a time when potential shortages are anticipated moving forward,” stated Mr. Dean Taylor, Diamcor CEO.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%253B1480989%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%253B1480989%2522%252C%2522wiki_topics%2522%253A%2522Company%253BTSX_Venture_Exchange%253BTiffany_%2526_Co.%253BProject%253BStargate_SG-1_(season_4)%253BDiamond%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%252202b7c941-b464-37df-ad39-2fbcb91eeeb9%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.
WE SEEK SAFE HARBOUR
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Vancouver, British Columbia–(Newsfile Corp. – April 12, 2022) – StrikePoint Gold Inc. (TSXV: SKP) (OTCQB: STKXF) (“StrikePoint” or the “Company”) is pleased to announce results from surface channel sampling as well as reconnaissance grab samples collected during the 2021 exploration program at the 100%-owned Willoughby gold-silver property, located east of the community of Stewart in British Columbia’s prolific Golden Triangle. The purpose of the channel sampling is to provide quality surface assay data over the surface expression of mineralized zones that could potentially be used for a NI43-101 Mineral Resource Estimate for the property and to refine diamond drill targeting for 2022 field season.
Highlights of the remainder of 2021 surface sampling at Willoughby Include:
4.74 g/t AuEq over 7.0 metres, including 8.60 g/t AuEq over 3.0 metres in channel at Edge Zone
11 grabs from NN Zone average 4.28 g/t Au, 159.1 g/t Ag including 17.45 g/t Au, 576 g/t Ag
6 grabs from Willow Zone average 9.91 g/t Au, 151.4 g/t Ag including 49.00 g/t Au and 777 g/t Ag
StrikePoint’s CEO, Shawn Khunkhun, states, “In addition to providing increased definition at the known gold-silver Zones at Willoughby, surface sampling during 2021 at the NN area along strike from the North Zone underground workings has extended total strike of the series of mineralized Zones an additional 113 metres to the north on the Willoughby nunataq. As well, the high-grade gold and silver values and multiple high-grade structures 100 meters south of our Willow Zone drilling are priority drilling targets for our 2022 drilling season. Of particular interest are the high silver assays from these areas.”
2021 Willoughby Channel Sampling
These results include seven continuous series of channel samples from steep terrain at the Edge Zone, collected by experienced climbing geologists and technicians using a hydraulic chisel, from well-exposed bedrock hosting disseminated to massive mineralization. The samples cover approximately 40 metres of strike and 20 metres of vertical relief on steep exposure. This sampling suggests that the Edge Zone true thickness ranges from 3 to 8 metres. Coupled with drilling, this sampling suggests dimension of 16 by 48 metres starting at surface.
The Edge Zone samples, along with channel sampling results from the Icefall zones on the property (News release December 15, 2021, 3.38 g/t AuEq over 15.0 metres including 12.53 g/t AuEq over 2.0 metres in channel W21-CH-004), provide representative assay data from surface expressions projected up-dip and along strike to the north of previous and 2021 drilling (News Release March 2, 2022, 2.76 g/t AuEq over 6.50 metres and 10.16 g/t AuEq over 1.5 metres in hole W21-117).
The Edge zone is one of the least tested of the seven significant mineralized areas on the Willoughby nunataq. The channel sampling at the Edge Zones confirmed continuous gold and silver mineralization along all seven channel lines in 74 samples with values of up to 18.50 g/t gold and 31.1 g/t silver. Five channel sampling lines intersected the mineralized horizon perpendicular to the strike of the Edge Zone (W21-CH-008, W21-CH-009, W21-CH-011 to W21-CH-013), and two are along strike (W21-CH-010, W21-CH-014).
Figure 1. Edge zone 2021 Channel Sampling Line location in relation with the 2021 drilling on the Willoughby nunataq.
The gold-silver mineralization consists of replacement-style sulphides within permeable lapilli tuff strata of the Early Jurassic lower Hazelton group. Mineralization is concordant with bedding and ranges from semi-massive to massive pyrite with accessory sphalerite-chalcopyrite. Both W21-CH-008 and W21-CH-013 intersected the mineralized horizon perpendicularly. W21-CH-008 returned 4.74 g/t AuEq over 7.0 metres, including 8.60 g/t AuEq over 3.0 metres. W21-CH-013 is the northernmost channel sampling line, stepped out 48 metres from the previously released 2021 drilling at the Edge zone and returned 3.26 g/t AuEq over 9.0 metres. Both W21-CH-010 and W21-CH-014 are parallel to the mineralization testing continuity along strike. W21-CH-010 returned 3.01 g/t AuEq over 11.0 metres, and W21-CH-014 returned 3.48 g/t AuEq over 18.0 metres, extending the outlined Edge zone mineralization in the 2021 drilling twenty-seven metres further to the north.
Hole-ID
Zone
From (metres)
To (metres)
Length (metres)
Gold (g/t)
Silver (g/t)
AuEq (g/t)
W21-CH-008
Edge
1.00
8.00
7.00
4.65
6.13
4.74
incl.
1.00
4.00
3.00
8.45
10.37
8.60
W21-CH-009
Edge
0.00
1.00
1.00
1.83
3.40
1.88
W21-CH-010
Edge
0.00
11.00
11.00
2.94
4.55
3.01
W21-CH-011
Edge
1.00
3.00
2.00
1.90
3.55
1.95
W21-CH-012
Edge
0.00
13.00
13.00
1.41
2.22
1.44
incl.
0.00
4.00
4.00
2.88
2.80
2.92
W21-CH-013
Edge
1.00
10.00
9.00
3.21
3.17
3.26
W21-CH-014
Edge
0.00
18.00
18.00
3.38
7.48
3.48
Table 1: Highlight channel sampling intercepts at the Edge zone – Willoughby project. Gold equivalent grade calculated using a 70:1 Ag: Au ratio. **True widths are estimated to be 70% at this time. All widths reported are channel widths.
Channel-ID
Easting
Northing
Azimuth
Length (metres)
W21-CH-008
463488.0
6203177.0
75
9.00
W21-CH-009
463502.0
6203170.0
78
5.00
W21-CH-010
463488.4
6203168.2
129
11.00
W21-CH-011
463476.0
6203162.0
68
6.00
W21-CH-012
463490.0
6203157.0
98
13.00
W21-CH-013
463485.0
6203196.0
90
12.00
W21-CH-014
463487.0
6203172.0
160
18.00
Table 2: Willoughby property – Edge Zone Channel Sampling locations and orientations (NAD83 Zone 9).
2021 Willoughby Grab Samples
The remainder of the 2021 select grab samples results were also received from the North-North and Willow zones. The Willow zone is the northern most zone on the property located 800 metres due northeast of the Willoughby nunataq. Surface sampling returned high grade values ranging from 0.07 to 49.0 g/t Au, averaging 9.91 g/t Au and 3.3 to 777 g/t Ag, averaging 151.4 g/t Ag in a quartz-carbonate veins with massive pyrite-sphalerite within a Jurassic tuff breccia. This mineralization is analogue to that intersected in the 2021 drilling and is located 100 metres south of any drilling completed in the area.
Figure 2. Willow zone surface grab sample location with the gold values displayed in g/t. Annotated texts highlight select anomalous gold assays.
The NN Zone is located at the northernmost end of the Willoughby nunataq, 150 metres north of the North zone. Surface reconnaissance outlined an extension of a wide mineralized north-northwest striking structure comparable to the North fault. These steeply dipping structures are linked to bonanza grade mineralization at the North zone to the south. A total of 11 grab samples were collected, ranging from 0.38 to 17.45 g/t Au, averaging 4.28 g/t Au, and 2.1 to 598.0 g/t Ag, averaging 159.1 g/t Ag. Highlights include 17.45 g/t Au and 576 g/t Ag in sample B0016021 and 13.60 g/t Au and 598 g/t Ag in sample B0016022.
Figure 3. Massive pyrite mineralization within north northwest fault at the NN zone.
These encouraging results strengthen the mineralization continuity along the outlined 1,300 metres Willoughby mineralized trend and provide a cost-effective way to test and extend exploration targets on the property. Future work in 2022 is planned to follow up on the mineralization extension at both the Willow, Edge and the North-North zones.
Willoughby Project
The project occurs along the eastern margin of the Cambria Icefield, approximately seven kilometres east of the advanced-stage Red Mountain Deposit owned by Ascot Resources. Upper Triassic Stuhini rocks and Lower Jurassic Hazelton volcano-sedimentary rocks underlay the property, subsequently intruded by an early Jurassic-aged hornblende-feldspar porphyry, potentially comagmatic with the Goldslide Intrusive suite at the nearby Red Mountain deposit. Intrusive-related mineralized zones consist of primary pyrite with lesser pyrrhotite, sphalerite, galena, chalcopyrite and native gold. Eight gold and silver mineralized zones have been identified to date over a one-kilometre strike-length mineralized trend.
QA/QC
Using a hydraulic chisel, an approximate 2 by 2-centimetre channel was sampled continuously along 1 metre sample stations. If the hydraulic chisel was incapable of retrieving a chip from a specific location, a hand chisel was used to assist with the chipping within the limits of the 1 metre station. Chip data observation data were recorded and digitized in the field using MX Deposit, directly sampled into a polyurethane bag, and transported from the field to secure storage in Stewart.
Surface samples for the 2021 exploration program were labelled and shipped to the laboratory using industry standard chain of custody controls. In addition, the company implements a rigorous Quality Control/Quality Assurance program, including the insertion of Standards, Blanks, and Duplicates at regular intervals in the sample stream to monitor laboratory performance.
Samples were submitted to the ALS Laboratory facility located in North Vancouver, British Columbia, for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, split into representative sub-samples using a riffle splitter, and subsequently, 250g is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm and an upper limit of 10 ppm. Samples with gold assays greater than 10ppm are re-analyzed using a 30g fire assay fusion with a gravimetric finish. Analysis for silver is by 30g fire assay fusion with gravimetric finish with a lower limit of 2ppm and upper limit of 100ppm. Samples with silver assays higher than 100ppm are re-analyzed using a gravimetric silver concentrate method. All samples are also analyzed using a 33 multi-elemental geochemical package by 4-acid digestion (ICP-AES).
Qualified Person
The Qualified Person for this news release for National Instrument 43-101 is Andrew Hamilton, P. Geo, technical advisor to StrikePoint. He has read and approved the scientific and technical information that forms the basis for the disclosure contained in this news release.
About StrikePoint
StrikePoint Gold is a gold exploration company focused on building high-grade precious metals resources in Canada. The company controls two advanced-stage exploration assets in BC’s Golden Triangle. The past-producing high-grade silver Porter Project and the high-grade gold property Willoughby, adjacent to Red Mountain. The company also owns a portfolio of gold properties in the Yukon.
ON BEHALF OF THE BOARD OF DIRECTORS OF STRIKEPOINT GOLD INC.
“Shawn Khunkhun”
Shawn Khunkhun Chief Executive Officer and Director
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the company’s filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.
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.
Metallic Minerals Corp. (TSX-V: MMG / US OTC: MMNGF) is a growth stage exploration company focused on the acquisition and development of high-grade silver and gold projects within underexplored districts proven to produce top-tier assets. Our objective is to create value through a disciplined, systematic approach to exploration, reducing investment risk and maximizing probability of long-term success. Our core Keno Silver Project is located in the historic Keno Hill Silver District of Canada’s Yukon Territory, a region which has produced over 200 million ounces of silver and currently hosts one of the world’s highest-grade silver resources. The Company’s La Plata silver-gold-copper project is located in the high-grade La Plata district of the prolific Colorado Mineral Belt and our McKay Hill project northeast of Keno Hill is a high-grade historic silver-gold producer. Metallic Minerals is also building a portfolio of gold royalties in the historic Klondike Gold District. Metallic Minerals is led by a team with a track record of discovery and exploration success, including large scale development, permitting and project financing.
Russia causes a dramatic change in the global diamond market
Mountain Province Diamonds- a top-tier company with significant scale
Diamcor Mining- A junior diamond miner with potential
A potential bottom in DMI/DMIFF shares
A diamond is a pure solid form of the element carbon with its atoms arranged in a crystal structure, a diamond cubic. At room temperature and pressure, another solid form of carbon is graphite, a chemically stable form of the element. Diamonds form under high temperatures and pressure that cause the carbon atoms to bond and form crystals.
It takes carbon up to 650 million years to become fossil fuels. Transforming carbon into a diamond takes one to 3.3 billion years, approximately 25% to 75% of the earth’s age.
Diamonds occur in greater number and quality in the ocean, but the extraction process is expensive and challenging. Ocean miners dredge the ocean floor, bring the material onto mining ships, and sift it for diamonds. Mining diamonds from the earth’s crust involves releasing igneous emplace rocks with explosives as the encased diamonds are carried up with intrusive rocks from the earth’s mantle. Most diamond mines are around one hundred miles below the earth’s surface.
Rough diamonds look like shiny pebbles. Experts cut and polish the rocks that become the centerpiece of jewelry cherished worldwide. Only 20-30% of mined diamonds have a suitable quality for jewelry; the remainder goes to industrial applications. The industrial diamonds are too badly flawed, irregularly shaped, poorly colored, or too small for gems. However, they are critical for cutting, grinding, drilling, and polishing procedures because of a diamond’s hardness and heat conductivity.
The first Soviet leader, Vladimir Lenin, once said, “There are decades where nothing happens, and there are weeks where decades happen.”
The international diamond business is experiencing that phenomenon in early 2022, courtesy of his successor.
Russia is the leading producer- Canada is third Like many commodities, diamond production occurs in regions where the earth contains minable reserves.
The chart highlights that Russia has the largest diamond reserves with approximately 650 million carats, over double the country with the second-most reserves, Botswana. While diamonds are synonymous with South Africa, the nation is home to the fourth leading reserves behind Russia, Botswana, and the Democratic Republic of Congo. While the DR Congo has the third most reserves, Canada is the third-leading diamond-producing country.
As the chart illustrates, in 2020, Canada produced 17.2% of the worlds’ diamonds.
Russia causes a dramatic change in the global diamond market
On February 24, 2022, the world changed as the Russian military invaded Ukraine. President Vladimir Putin does not consider Ukraine a country but a part of Western Europe. Meanwhile, the watershed event occurred on February 4, 2022, when President Putin and Chinese President Xi signed a $117 billion trade agreement and shook hands on “no-limits” support. The Chinese-Russian alliance paved the way for Russia’s invasion of the country that the US, Europe, Canada, Australia, Japan, and allies worldwide consider a sovereign country in Eastern Europe. Russian success in Ukraine could pave the way for China’s reunification with Taiwan.
Sanctions on Russia leading to retaliatory measures are likely to choke off commodity supplies to the west. Russia is a leading producer and exporter of diamonds, oil, nickel, wheat, fertilizer, and a host of other raw materials.
The geopolitical landscape has deteriorated to the most dangerous level since World War II. War, sanctions, and trade embargos distort market prices, impacting the global supply chain and creating fundamental supply and demand imbalances. The dark cloud of war and tensions between Russia-China and the West may have a diamond lining for companies producing commodities to fill the gaps created by supply shortages and rising prices.
On February 24, the diamond market underwent a substantial change.
Mountain Province Diamonds- a top-tier company with significant scale
The DeBeers Group controls companies in the diamond mining, diamond processing, and diamond trading sectors. Still, it is the second-leading diamond company behind Alrosa, the Russian mining giant that distributed 38.5 million carats in 2021. De Beers distributed 30.78 million carats.
When most people think of diamonds, De Beers is the brand name that glistens like the stones. De Beers has been around since 1888 with South African roots. Today, the company calls London home, with the mining giant Anglo American (NGLOY)owning 85%. While price transparency in the diamond market can be opaque, prices have appreciated.
The price index rose from 204.20 in July 2020 to 230.30 in March 2022, a 12.8% increase.
Mountain Province Diamonds is a Canadian diamond producer that operates a joint venture with De Beers, owning the world’s fifth-largest diamond mine, Gahcho Kue, in Canada’s Northwest Territories. Mountain Province Diamonds also owns 100% of the Kennady North Project and explores for diamonds in the Northwest Territories through targeted drill programs with 13.6 million carat reserves and inferred resources of 7.35 million carats ten kilometers from the Gahcho Kue mine. A summary of some of the company’s other highlights includes:
The highest-grade diamonds in the De Beers portfolio at 1.55 carats per ton of reserves.
The second most favorable mining jurisdiction in Canada.
A commitment to sustainability through environmental stewardship.
Exploration territory of 107,000 hectares of 100% owned claims/leases surrounding Gahcho Kue.
Mountain Province Diamonds traded on the TSX in Canadian dollars under MPVD.TO. The company trades in the over-the-counter market in the US under the symbol MPVDF.
Source: Barchart
As the chart highlights, MPVDF shares fell to a low of 17.41 cents in March 2020 as the global pandemic gripped markets across all asset classes. The stock has moved higher with diamond prices and production success, making higher lows and higher highs with the price at 62.83 cents on March 16, over 3.6 times higher than the March 2020 low.
Diamcor Mining- A junior diamond miner with potential
Diamcor Mining Inc. is a junior diamond mining company that identifies, acquires, and operates unique projects with “near-term production potential.”
While many people think of De Beers synonymously with diamonds, the other name that comes to mind is Tiffany & Company. Diamcor established a long-term strategic alliance and the first right of refusal with Tiffany & Co, Canada, a subsidiary of Tiffany & Co in the US, for the purchase of up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at current market prices. Tiffany & Co. provides financing for the project. Diamcor acquired the Krone-Endora at Venetia project from DeBeers. The mine is co-located directly adjacent to the De Beers Venetia Diamond Mine in the Limpopo province of the Republic of South Africa. The project is a rare eluvial deposit, a direct shift of material from the higher grounds of the Venetia Kimberlite clusters onto the lower surrounding areas of Krone-Endora. The property is approximately 500 kilometers north-northeast of Johannesburg. The Venetia mine is the world’s third-largest diamond mine and South Africa’s leading mining, accounting for over 50% of annual production.
Some of Diamcor’s highlights include:
Accelerated phase two of a three-phase processing upgrade to increase volumes as the demand for rough diamonds has continued to be robust.
Diamcor’s most recent rough diamond sale yielded an average price of over $300 per carat, a 60% increase from the December 2021 price.
The project has revenue flows with demonstrated profitability.
The project has $70 million in development to date with significant infrastructure in place and a 30-year mining right.
A high percentage of the project’s diamonds are gem quality and can be found just 50 feet below surface.
Diamond reserves are likely on 95% of the project area that has not been defined, leading to significant growth potential.
US and European sanctions will limit the number of industrial and gem-quality diamond flows from Russia, pushing prices higher and availability lower. The world will be looking for new sources, and Diamcor’s project is far enough along and positioned to meet the increasing demand.
A potential bottom in DMI/DMIFF shares Diamcor Mining Inc trades on the TSX under the symbol DMI.VN. On the Us over-the-counter market, the symbol is DMIFF. The shares have moved appreciably higher since the late 2020 low.
Source: Barchart
As the chart highlights, DMIFF shares rose from a low of $0.046 in late December 2020 to $0.2425 on March 16, over five times higher. In October 2021, the shares peaked at 43.0 cents, over nine times higher than the late 2020 low. DMIFF returned a higher percentage gain than Mountain Province Diamonds (MPVDF) since its 2020 low.
It takes over a billion years for a diamond to form, making the stones a forever asset. Meanwhile, sanctions on Russia will limit the precious stones supplies, which could create an exciting opportunity for Diamcor, a mining company with lots of upside potential.
Written By: Andrew Hecht, on behalf of Maurice Jackson of Proven and Probable.
Any investment involves substantial risks, including, but not limited to, pricing volatility, inadequate liquidity, and the potential complete loss of principal. This document does not in any way constitute an offer or solicitation of an offer to buy or sell any investment, security, or commodity discussed herein, or any security in any jurisdiction in which such an offer would be unlawful under the securities laws of such jurisdiction.
Vancouver, British Columbia–(Newsfile Corp. – April 5, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY)(“Riverside” or the “Company”) is pleased to announce that the Company has expanded its drilling program at the Oakes Project in Ontario, Canada. The Company initiated the program in March with a planned 1500 metres (“m”) of drilling and has now completed 1705 m across 12 drill holes. The drill program was designed to test IP geophysical anomalies that were defined through Riverside’s 2021 program and coincided with anomalous surface geochemical sampling completed by Riverside.
Drilling is now complete with logging, core cutting and sampling now underway. The Company has shipped the first three holes to ACT Labs in Thunder Bay for analysis and is expecting to have all core samples delivered to ACT Labs during April. Assay results are expected later in Q2, 2022 and will be released once reviewed and interpreted.
Observations from the core to this point is consistent with surface findings showing similar patterns of mineralization and lithologies from hole to hole along the HG Target, where the initial seven drill holes were focused (see Press Release March 3, 2022). The mineralized zone is described as a quartz-carbonate veining system characterized by disseminated to semi massive pyrite, pyrrhotite, chalcopyrite mineral assemblage (see Photo 1 below). These observations are similar to the mineralization noted in the previously completed sampling which returned anomalous values for gold.
Photo 1: Close-up pictures of drill core from hole 5 and semi-massive sulfides from hole 7.
Figure 2: Initial cross-section schematic sketch interpreted block diagram of the logged intercept in hole Oakes-22-05 from the 2022 RRI drilling campaign. Red lines correspond to the veining crosscut in the drilling.
To view an enhanced version of this graphic, please visit: https://orders.newsfilecorp.com/files/6101/119254_167e054bf4f2c83d_003full.jpghttps://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Ontario%253BTom%25C3%25A1%25C5%25A1_Hole%25C5%25A1%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%2522dc569072-7f8d-39c0-8f3b-476c41d2d19f%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Note: The above sketch is not to scale and does not include data from holes that have not been logged, final interpretations are subject to change.
Riverside’s President and CEO, John-Mark Staude: “We are delighted with the excellent contractors and team working with Riverside on our Oakes exploration campaign, completing the program safely and finding encouraging geology and sulfide zones. These first insights from our drilling program suggest we have intersected the likely source of the geophysics and are seeing shears and stringers that look similar to mineralized areas 20 km west at the Greenstone Mine and Geraldton Mining district. Samples are being processed and will be sent to the lab. Riverside’s team will be working on detailed logging of the split core and preparing the next stages for our exploration campaign.”
The simplified geological interpretation from the drilling to date suggests that sulfide mineralization (and possibly gold) is associated with shearing near or at the geological boundary between gabbroic sills and Archean-aged mafic volcanics comprising flows, tuffs and pillow basalts. Intercalated sediments and volcanics are also often mineralized and will be assayed to determine if gold is present. The expanded drill program has primarily tested only one target area (HG) plus two orientation drill holes into two other targets as is shown on the Company website: Click here.
The scientific and technical data contained in this news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified person to Riverside Resources, who is responsible for ensuring that the geologic information provided within this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company driven by value generation and discovery. The Company has over $4.5M in cash, no debt and less than 75M shares outstanding with a strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive experience and knowledge operating in Mexico and Canada and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has properties available for option, with information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Burlington, Ontario–(Newsfile Corp. – April 4, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (“SBMI” or “the Company”) is pleased to provide the following report on its continuous assay program at its Buckeye Silver Mine in Arizona.
This press release reports the recent assay results from 44 samples. The assays were processed at SBMI’s non-ISO in-house assay facility in Arizona under the supervision of Robert Budd, a metallurgical engineer whose career in metallurgy began in 1972, and Vic Powers, a certified Arizona assayer. The assays include samples from four underground areas of the Buckeye Mine, these being: 1) the footwall of the vein; 2) the recently announced Treasure Room stope; 3) behind the Treasure Room stope; and 4) the historical tailings.
Five samples, taken from the footwall of the vein from an area covering approximately 14 to 18 inches in width, provided the following returns (in ounces of silver per ton or oz/t as well as grams per tonne or g/t):
341.8 oz/t or 11,718.95 g/t;
336.2 oz/t or 1,152.95 g/t;
674.0 oz/t or 23,108.76 g/t;
706.6 oz/t or 24,226.49 g/t; and
124.4 oz/t or 4,265.18 g/t;
The average of the remaining 39 samples (including 6 samples of 0.0 oz/t) is as follows:https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Silver_bullet%253BNatural_resource%253BCompany%253BArizona%253BSilver_mining%253BFault_(geology)%2522%252C%2522lmsid%2522%253A%2522a0V0W00000HOPDcUAP%2522%252C%2522revsp%2522%253A%2522newsfile_64%2522%252C%2522lpstaid%2522%253A%252289290c44-9f0a-35fc-bf40-9f15aa16183a%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
The overall average for all the 39 above samples is 22.91 oz/t or 785.63 g/t silver. The high-grade values from the footwall were not included in the above overall average.
“These are exciting numbers and they provide us with a great deal of confidence in our internal grade estimates as we move to production”, said A. John Carter, SBMI’s CEO. “As any responsible producer would, we will continuously sample and assay as we proceed.”
Readers are cautioned that the 44 samples are selective grab samples and may not be representative of all the material at the Buckeye Silver Mine. The reader is further advised that these preliminary assay values do not represent a reserve or resource at this time. While significant silver values have been encountered, the quantity, grade, or metal or mineral content of a deposit has not been categorized as an inferred mineral resource, an indicated mineral resource, a measured mineral resource, a probable mineral resource, reserve or a proven mineral reserve.
The buttons from four of the five footwall assays.
As it moves into production, SBMI will assay on a daily basis to better enable it to determine the production head grade of the feed material. SBMI does not intend to report all assays taken daily.
In light of the high-grade values in the assays, the Company has engaged Montana Technical University to help SBMI optimize an efficient recovery process flow sheet. The capital expenditures being made to the mill, funded by the recently-completed oversubscribed financing, will also assist in improving recoveries.
The mill, on permitted patented lands owned by SBMI, is close to completion. Electrical, piping and small fabrication items remain to be completed before commencement of an anticipated two-week trial period. During this two-week trial period SBMI will move roughly 1,500 tons of the lower-grade ore to the mill.
SBMI will move its two boom jumbo and mucker to the Buckeye Silver Mine in anticipation of completion of ongoing development and commencement of mining.
No standards, duplicates or blanks were used or the above 44 samples although management intends to include such checks in future assay programs. Management also intends occasionally send samples to an ISO-certified third party lab for confirmation of SBMI’s owns lab equipment and processes.
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.
The Qualified Person for this press release is Mr. Robert G. Komarechka, P.Geo., an independent consultant, who has reviewed and verified SBMI’s work referred to herein. Mr. Robert G. Komarechka, P.Geo. co-authored the NI43-101 compliant report on this property, delivered to the Company in January, 2021.
Finally, due to a typo, the Company under-reported the number of broker warrants issued as part of its recent financing. The correct number is 179,130.
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
Vancouver, British Columbia–(Newsfile Corp. – April 1, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9)(the “Company” or “EMX”) is pleased to announce the filing of its 2021 annual report Form 40-F, which includes the audited financial statements for the year ended December 31, 2021 with the U.S. Securities and Exchange Commission (“SEC”) on EDGAR (www.sec.gov). EMX has also filed its Annual Information Form (AIF), audited Financial Statements (FS), and Management’s Discussion and Analysis (MD&A) for 2021 with Canadian securities regulators on SEDAR (www.sedar.com). The Company’s Form 40-F, AIF, audited FS, and MD&A are also available on EMX’s website at www.EMXroyalty.com under the heading “Investors”. Shareholders may receive a printed copy of the Company’s complete Financial Statements, or its complete Annual Information Form, free of charge, upon request to the Corporate Secretary at Suite 501 – 543 Granville Street, Vancouver, British Columbia V6C 1X8, Canada. All dollar amounts in this news release are CDN unless otherwise noted.
HIGHLIGHTS FOR 2021
Financial Updates for the Year Ended December 31, 2021
Adjusted royalty and other income1 of $12,446,000 (2020 – $7,199,000) included $3,012,000 (2020 – $Nil) in income from the effective Caserones copper royalty interest in Chile.
Royalty generation costs of $18,155,000 (2020 – $16,392,000) of which the Company recovered $8,661,000 (2020 -$7,962,000) from partners.
General and administrative costs totaled $5,600,000 (2020 – $5,172,000). Impacting general and administrative costs were higher professional fees and consultants associated with our two acquisitions, capital raises, and the Bullion Monarch litigation in the US.
Share-based payments totaled $5,216,000 (2020 – $3,121,000) including $1,537,000 (2020 – $1,127,000) included in royalty generation costs (above) which was an increase over the prior year primarily resulting from additional stock option grants and the fair value of restricted share units (“RSUs”) which vested during the year.
Finance expenses of $2,666,000 (2020 – $Nil) associated with the Sprott Credit Facility and the SSR VTB note.
Loss from operations of $12,586,000 (2020 – $9,623,000), and loss for the year of $29,749,000 (2020 – $6,007,000).
Adjusted cash used in operating activities1 of $7,739,000 (2020 – $8,961,000).
Significant items affecting the loss for the year ended December 31, 2021 included $10,496,000 (2020 – $Nil) of impairment charges, primarily taken against the Rawhide investment, unrealized fair value losses on investments of $6,278,000 (2020 – gain of $6,162,000) and foreign exchange adjustments of $4,969,000 (2020 – $177,000).
As at December 31, 2021, EMX had cash and cash equivalents of $25,218,000 (December 31, 2020 – $52,418,000), investments, non-current investments and loans receivable valued at $23,069,000 (December 31, 2020 – $26,126,000) and loans payable of $64,418,000 (December 31, 2020 – $Nil).
Corporate Updates
Acquisition of SSR Royalty Portfolio EMX closed the acquisition of a portfolio of royalty interests and deferred payments (the “Royalty Portfolio”) from SSR Mining Inc. and certain of its subsidiaries (“SSR Mining”) (see EMX news release dated October 21, 2021). The Royalty Portfolio consists of 15 (previously disclosed as 16, but the Company now considers Gediktepe to be one royalty covering both the oxide phase as well as the sulfide phase) geographically diverse base and precious metals royalties including a producing royalty at the Gediktepe polymetallic volcanogenic massive sulfide (“VMS”) deposit in Turkey, four other advanced stage projects in Turkey, Peru, Chile and Argentina, and 10 early-stage royalties in Mexico, Canada, Chile, Argentina and the US. The Company also expects to receive US$18 million in future cash payments (of which US$2.25 million was received in Q4 of 2021) associated with two properties in South America. EMX paid US$33 million in cash and issued 12,323,048 common shares of the Company valued at US$32.5 million to SSR Mining to acquire the Royalty Portfolio. SSR Mining now owns an approximate 12% undiluted equity interest in EMX. The Company will also make deferred and contingent payments to SSR Mining of up to US$34 million if certain project advancement milestones are achieved associated with the Yenipazar project in Turkey.
Acquisition of Caserones Royalty EMX completed the acquisition of an effective 0.418% NSR royalty on the Caserones Copper-Molybdenum Mine (the “Caserones Royalty”) located in northern Chile for US$34.1 million in cash (see EMX news release dated September 3, 2021). Caserones is a porphyry copper-molybdenum mining operation in a top tier mining jurisdiction. Since acquisition, EMX’s Caserones effective royalty interest has provided immediate pre-tax cash flow to the Company in 2021 consisting of US$2,339,000 in distributions related to production from the mine for Q2 and Q3 2021, and US$1,228,000 received subsequently in 2022 for settlement of the Q4 payment.
Subsequent to Year End Settlement of the Bullion Litigation Subsequent to year-end, the Company’s wholly-owned subsidiary, Bullion Monarch Mining, Inc., (“Bullion”) reached a settlement with Barrick Gold Corporation (“Barrick”) and Barrick affiliates and subsidiaries (“Barrick Entities”) with respect to Bullion’s claim of non-payment of royalties by the Barrick Entities to Bullion on production from properties in the Carlin Trend, Nevada. Bullion initiated litigation in 2008, before EMX acquired Bullion in 2012. Pursuant to the settlement, Barrick paid Bullion US$18.825 million, being US$25 million as the settlement less US$6.175 million as payment of a contingency fee to Bullion’s Reno, Nevada lawyers. The settlement of the lawsuit does not affect our 1% gross smelter return royalty from portions of Nevada Gold Mine’s Leeville, Carlin East, Four Corners, and other northern Carlin Trend underground gold mining operations (the “Leeville Royalty”), which will continue to be paid.
Impact of Covid 19 EMX is monitoring developments regarding the ongoing coronavirus pandemic (“COVID-19”), with a focus on the jurisdictions in which the Company operates. EMX has implemented COVID-19 prevention, monitoring and response plans following the guidelines of international agencies and the governments and regulatory agencies of each country in which it operates. EMX’s priority is to safeguard the health and safety of its personnel and host communities, support government actions to slow the spread of COVID-19 and assess and mitigate the risks to business continuity. Most of the restrictions have been removed or relaxed in the jurisdictions where the Company operates (e.g., travel restrictions, etc.), with EMX’s field programs up-and-running at full speed.
Royalty Generation Updates
EMX’s royalty and mineral property portfolio consists of over 270 properties in North America, Europe, Turkey, Latin America and Australia (See Figure 1). The Company’s portfolio is comprised of the following:
Producing Royalties
5
Advanced Royalties
9
Exploration Royalties
157
Royalty Generation Properties
102
Figure 1. EMX’s royalty and mineral property portfolio.
In 2021, the Company’s royalty generation business was active in North America, South America, Europe, Turkey, and Australia. The Company spent $18.2 million and recovered $8.7 million from partners. During the year the Company also completed 25 partnerships across the portfolio all the while continuing to replace partnered properties with new mineral properties. In addition, our partners also directly spent US$20.6 million in exploration of the portfolio.
Highlights from 2021 include the following:
South 32 regional strategic alliance (“RSA”) in the US where EMX and South 32 are in the fourth year of exploring for copper in Arizona, New Mexico, Utah and Nevada. The RSA advanced eight copper projects through field-based work programs, drill tested one copper target, and continued to acquire new projects during the year.
Continued expansion of the gold royalty generation portfolio in the US, particularly Idaho where EMX was an early entrant and has completed nine deals over the past three years. The partnered properties are being advanced by juniors and mid-tier mining companies, including four projects that were drill tested with encouraging results during 2021.
EMX has become a preeminent generative and early-stage exploration company in Fennoscandia by acquiring significant base and precious metals project portfolios, and partnering with multiple junior companies, as well as larger mining groups such as Agnico Eagle and Boliden. The program in 2021 saw partners spend over US$8 million and drill 15,670 meters on EMX projects in Sweden and Norway.
The Company entered Canada in early 2020 with the acquisition of the Perry English portfolio for $2,991,000. Over the past two years the Company has received total cash payments of $885,000 and share equity payments valued at $273,000 while continuing to expand on the portfolio. At the time of acquisition, the royalty and mineral portfolio totaled 84 properties and is principally focused on precious metals.
The Company entered into South America in 2020 with the acquisition of Revelo Resources’ Chilean royalties. With the acquisition of the SSR portfolio in 2021, the Company continued to increase its asset base, as well as expanding the footprint beyond Chile to Peru and Argentina. The portfolio now totals 25 properties with partners exploring for copper, copper-gold, and gold mineral deposits.
In Australia, EMX expanded the portfolio by adding several new projects. While most of the portfolio is centered around gold systems, the Company continues to evaluate base metal opportunities, particularly as they relate to cobalt, copper, and nickel.
Towards the end of 2021, the Company expanded its technical team with the re-hiring of Ankara-based Dr. Mesut Soylu, who will lead exploration programs in the Balkans, central Asia, and other jurisdictions in the region.
Financing Updates
Private Placement In Q4 of 2021 the Company completed a private placement of 6,500,000 units at $3.30 per unit for gross proceeds of $21,450,000. Each unit consists of one common share of the Company and one-half of one transferable warrant. Each whole warrant entitles the purchase until November 6, 2023 to one common share at $4.00 in the first year and $4.50 in the second year.
Sprott Credit Facility In Q3 of 2021, the Company entered into a credit facility with Sprott Private Resource Lending II (Collector), LP (“Sprott”) totaling US$44 million (the “Credit Facility”). The proceeds from the Credit Facility were used to fund the acquisition of the Caserones effective royalty interest in Chile as well as provide additional capital to complete the acquisition of the SSR Royalty portfolio. Subsequent to the year ended December 31, 2021, the Company amended the Credit Facility to extend the maturity date to December 31, 2024.
SSR VTB Note As part of the acquisition of the SSR Royalty portfolio, The Company entered into a Vendor-take-back note (“VTB Note”) with SSR Mining Inc. (“SSR Mining”) pursuant to which the Company borrowed US$7.8 million from SSR Mining which was used to fund the VAT liability on the acquisition of the Gediktepe royalty in Turkey.
Investment Updates
As at December 31, 2021, the Company had investments totaling $20,530,000 (December 31, 2020 – $25,626,000) which included $15,391,000 (2020 – $16,755,000) in various public and private entities, and $5,139,000 ($8,871,000) in non-current investments. The Company will continue to sell certain of its investments when appropriate. Much of the investment portfolio was derived from royalty deals completed as part of our organic royalty generation business.
Write-Down of Investment in Rawhide The Company has a 38.07% equity interest in Rawhide Acquisition Holding LLC (“Rawhide”), a privately-held Delaware company that owns the Rawhide gold-silver mining operation in Nevada’s Walker Lane Belt. The Rawhide mine is an open pit heap leaching operation that produces and sells gold and silver. The Company’s investment at Rawhide has not gone as planned. Mining operations were suspended at year-end, and Rawhide is evaluating strategic alternatives including the sale of the company. EMX has taken a full write-down of its investment in 2021 totaling $10,014,000.
OUTLOOK
The Company completed two transformative transactions in 2021 (Caserones Royalty & SSR Royalty Portfolio), raised $21,450,000 in equity and US$51,800,000 in debt. Production was initiated at Timok and at Balya (as a result of development work), while Leeville saw improvements in production that included new sources of ore. Likewise, the Gediktepe oxide gold deposit was commissioned in Q4, 2021 and is expected to reach commercial production sometime in Q2 or Q3, 2022.
Recent events in Q1 of 2022 included extension of the maturity date on the Sprott Credit Facility from July 2022 to December 2024 and the settlement of the Bullion litigation bringing into the Company US$18,825,000.
The year 2022 will see an increase in revenue coming from our cash flowing royalties including Caserones in Chile, Leeville in Nevada, and potentially Timok in Serbia (pending conclusion of the royalty rate discussions with Zijin). Likewise, Gediktepe and Balya in Turkey have been commissioned and are scheduled to contribute to 2022 cash flows. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global asset portfolio.
The Company plans to give production guidance for 2022 later this year. The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of our long-term debt, continuing to evaluate equity markets (including the filing of a shelf prospectus), and the ongoing monetization of the Company’s marketable securities.
EMX is well funded to identify new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.
INVESTOR RELATIONS UPDATE
EMX is provided with investor relations services by Scott Close, who has provided his services from Colorado since June 1, 2007, initially as a consultant and, since Oct 1, 2010, as an employee, and by Isabel Belger, who has provided her services from Germany since January 1, 2018, as a consultant. Neither Scott nor Isabel provides their services on a fixed term basis, and EMX expects to continue to retain their services for the foreseeable future. Their services cover all aspects of liaising with shareholders and the financial investment community. The annual cost for investor relation services has been approximately US$130,000 per year over the past five years which is, has been and will continue to be paid from EMX’s cash on hand. Both have also been granted, from time to time, stock options to purchase EMX shares in accordance with EMX’s stock option plan and TSX Venture Exchange policy.
FILING OF TECHNICAL REPORTS
EMX has filed Technical Reports for the Caserones, Gediktepe, and Timok royalty projects prepared in accordance with National Instrument 43-101 “Standards of Disclosure for Mineral Projects” of the Canadian Securities Administrators. The Technical Reports were filed on SEDAR on March 31, 2022 to coincide with the Company’s year-end 2021 AIF filing.
The Caserones Technical Report is titled “NI 43-101 Technical Report, Caserones Copper-Molybdenum Mine Royalty, Region III, Chile” and has an effective date of February 28, 2022. The Technical Report was prepared by Gregory W. Walker, Independent Consulting Geologist, SME RM. The Report discloses no material differences than previous Company disclosures for Caserones but provides additional disclosure required by NI 43-101 for a material property.
The Gediktepe Technical Report is titled “Gediktepe Project – Balıkesir Province, Turkey NI 43-101 Royalty Technical Report” and has an effective date of February 1, 2022. The Technical Report was prepared by DAMA Engineering Inc.’s Mustafa Atalay, Senior Geologist, CPG; Metin Alemdar, Senior Mining Engineer, MIMMM; Selim Yilmaz, Senior Mining Engineer, MIMMM; and Arif Umutcan Gelisen, Senior Mining Engineer, MIMMM. The Report discloses no material differences than previous Company disclosures for Gediktepe but does provide additional disclosure required by NI 43-101 for a material property.
The Timok Technical Report is titled “NI 43-101 Technical Report – Timok Copper-Gold Project Royalty, Serbia” and has an effective date of December 31, 2020 and an amended report date of March 25, 2022. The Technical Report was prepared by Mineral Resource Management LLC’s Kevin Francis, SME RM. The second amended and restated Report has no material changes from the initial amended and restated Technical Report dated July 21, 2021, and only corrects two typographical errors in table headings.
QUALIFIED PERSONS
Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.
About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, as well as on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Statements This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the year ended December 31, 2021 (the “MD&A”), and themost recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
1 Adjusted royalty and other income and adjusted cash used in operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section of the Company’s annual MD&A for the year ended December 31, 2021 for more information on each non-IFRS financial measure.
TORONTO, ON / ACCESSWIRE / March 29, 2022 / (CSE:ROO) (OTC PINK:JNCCF) (Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“).
RooGold is pleased to announce that it has signed Land Access Agreements at its top two ranked concessions, the Gold Belt (EL9226) and Gold Star (EL9215) properties that cover numerous historic gold workings, which are located adjacent to the Peel-Manning Suture Zone.
Highlights
Land Access Agreement (LAA) signed with NSW Forestry permitting exploration prospecting within areas of State Forest at Gold Belt (EL 9226).
Land Access Agreement (LAA) signed with landholder permitting exploration prospecting at the northern end of Gold Star (El 9215).
Landholder negotiations at other properties including Trilby (EL9242) and Lorne (EL9232) are continuing.
Strategic field sampling to commence in the near term at historic mine workings.
Carlos Espinosa, Chief Executive Officer and a Director of RooGold comments, “obtaining land access at Gold Belt and Gold Star is a key step in the progression of Roo Gold’s exploration work. Access has been granted over key areas of historic gold mining activities. Exploration reconnaissance work will commence soon.”
About RooGold Inc.
ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Freedom_to_roam%253BMining_engineering%253BCarlos_Espinosa%253BGold%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25220a5baf42-f24a-3c1a-a79b-8bb2e11a13cb%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
