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VANCOUVER , Jan. 15, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to report that Norman Pitcher , P.Geo., has been appointed President and CEO of the Company effective February 1, 2019 . Mr. Pitcher will succeed Stephen Nano , who has led the Company as President and CEO since the spring of 2014. Mr. Nano will continue to serve as a director of Mirasol and as an advisor to the Company.
Mr. Pitcher has over 30 years of experience in the mining industry and recently served as the President of Eldorado Gold Corporation from July 2012 until December 2015 , prior to which he served as Chief Operating Officer of Eldorado from July 2005 to July 2012 . Throughout his career with Eldorado , Pan American Silver, H.A. Simons, Ivanhoe Gold and Pioneer Metals, he was involved in exploration, evaluation and exploitation of open pit and underground mineral deposits on a world-wide basis. Mr. Pitcher is a Professional Geologist and holds a B.Sc. in Geosciences from the University of Arizona . Mr. Pitcher is currently a non-executive director of Roxgold Inc. and Allegiant Gold.
Dana Prince , the Chairman of the Company, stated: “On behalf of the Board and management of the Company, we welcome Norman to Mirasol. We are confident that his experience as a seasoned and successful international mining executive will hasten Mirasol’s further success as it enters its next stage of development.”
Mr. Nano is a founder of Mirasol, serving the Company since its inception in 2003, where he has played an integral role in its development, initially as Vice President of Exploration and over the last four and a half years as President, CEO and Director.
Mr. Prince stated: “On behalf of the Board and the entire Company, we thank Stephen for his exceptional service as President and CEO and for his contributions and leadership which have helped place the Company in a very strong position for its next stage of development.”
About Mirasol Resources Ltd
Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits, operating via a hybrid joint venture and self-funded drilling business model. Strategic joint ventures with precious metal producers have enabled Mirasol to maintain a tight share structure while advancing its priority projects that are focused in high-potential regions in Chile and Argentina. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age Au+Ag district of Santa Cruz Province Argentina .
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Mirasol Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/January2019/15/c1437.html
Dear Riverside Shareholders and Followers,
Riverside invites you to visit management on January 20-21 to the Vancouver Resource Investment Conference (VRIC) held at the Vancouver Convention Centre West. We look forward to meeting and providing shareholders and investors with a detailed corporate update and outlook for 2019.
Use Promo Code ‘VRIC19GUEST‘ for free entry to this years show.
Please visit us at booth #816 or give us a call at your convenience to catch-up on the latest Riverside news.
Best regards,
The Riverside Team
relmajian@rivres.com
778-327-6671 x 312
Vancouver, British Columbia–(Newsfile Corp. – January 14, 2019) – Millrock Resources Inc. (TSXV: MRO) would like to cordially invite you to visit us at Booth #1213 at the Vancouver Resource Investment Conference (VRIC) to be held at the Vancouver Convention Centre West (1055 Canada Place, Vancouver) on Sunday January 20 – Monday January 21, 2019.
The Vancouver Resource Investment Conference has been the bellwether of the junior mining market for the last twenty-five years. It is the number one source of information for investment trends and ideas, covering all aspects of the natural resource industry.
Each year, the VRIC hosts over 60 keynote speakers, 350 exhibiting companies and 9000 investors.
Investment thought leaders and wealth influencers provide our audiences with valuable insights. C-suite company executives covering every corner of the mineral exploration sector as well as metals, oil & gas, renewable energy, media and financial services companies are available to speak one on one. This is a must-attend for investors and stakeholders in the global mining industry.
For more information and/or to register for the conference please visit: https://cambridgehouse.com/vancouver-resource-investment-conference
We look forward to seeing you there.
For further information:
Millrock Resources Inc.
Millrock Resources Inc.
1-877-217-8978
mhenderson@millrockresources.com
www.millrockresources.com
VANCOUVER, British Columbia, Jan. 09, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (RVSDF) (R99.F) is pleased to provide a brief outlook for the coming year. Riverside is pleased to enter 2019 with a stable of high-quality gold, silver and copper exploration assets in Mexico. Riverside continues to have a tight share structure (less than 45M shares outstanding); increasing the potential for strong share price appreciation on new exploration successes. The list below outlines some of the key catalysts and opportunities the Company is currently forwarding:
- Riverside has exciting drill targets that are permitted and ready for testing at multiple 100% owned projects in Mexico (including high-grade gold at Cecilia and high-grade silver at the Peñoles Project)
- The Company has been advancing potential joint venture partnerships and is optimistic new deals can be secured to advance multiple projects simultaneously
- Riverside expects to expand outside of Mexico during 2019, as the Company continues to grow and diversify the generative portfolio
- Actively engaged in strategic alliance discussions with major companies, with aim of leveraging past investments and regional knowledge in Mexico
- Partner-funded exploration expected to commence at the La Silla Project in 2019 (Sinaloa Resources)
- New go-public transaction expected during Q1-Q2 from Croesus Gold Corp., (Riverside currently owns >5,000,000 Croesus common shares and holds a 2% NSR on the Sugarloaf Peak Project)
Listen to Riverside’s President & CEO, John-Mark Staude speak on the Company’s growth plans for 2019.
Riverside’s President and CEO, John-Mark Staude, stated: “Riverside is in a good position heading into 2019, we are focused to leverage off of last year’s work to improve the Company’s portfolio and are working up partnerships and catalysts for a positive year ahead. We have drill targets ready to go along with shares in other juniors and remain focused on delivering new accretive transactions for the Company. We are confident 2019 will be a strong rebound year for the company with momentum building during the first quarter.”
Options & Bonus Shares Granted:
On January 8, 2019 the Company granted 785,000 incentive stock options (the “Options”) to certain Directors, Officers and Consultants of the Company. The Options are exercisable at $0.17 per share for a period of 5 years from the date of grant. Options granted to individuals in their capacity as a Director vest in 3 equal instalments over 18 months and Options granted to Officers and Consultants vest in 4 equal instalments over 12 months. The Company also granted 265,000 bonus shares to certain Directors, Officers and Consultants of the Company. The Options & bonus shares were granted pursuant to the Company’s shareholder-approved stock option and bonus share plan and are subject to the policies of the TSX Venture Exchange and any applicable regulatory hold periods.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has a strong portfolio of gold-silver and copper assets in Mexico and a tight share structure with less than 45M shares outstanding. Riverside has extensive experience and knowledge operating in Mexico and has leveraged 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 additional properties available for option, with more 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 |
Raffi Elmajian Corporate Communications Riverside Resources Inc. relmajian@rivres.com Phone: (778) 327-6671 TF: (877) RIV-RES1 Web: www.rivres.com |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
VANCOUVER , Jan. 7, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the “Company” or “Mirasol”) is pleased to provide an exploration update for the Company’s Gorbea property package in Chile , that is subject to a recently announced non-binding Heads of Agreement for an Option to Farm-in with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (ASX: NCM; “NCM” – see news release December 10, 2018 ). Gorbea comprises a claims package totaling 26,684 ha (266.84 sq. km) including the Atlas and Titan Au+Ag+Cu projects, within the highly prospective Mio-Pliocene mineral belt of northern Chile (Figure 1).
- Subject to completion of ongoing due diligence, NCM has committed US$4 million in exploration expenditures, including a minimum of 3,000 m of drilling over the first 18 months of the Option Period.
- Mirasol and NCM are advancing the drill permitting process and upgrading the exploration camp ahead of a planned Q1 2019 restart of exploration program that will initially focus on Atlas, including detailed remapping mapping, alteration vectoring studies and 60 line-km of CSAMT geophysics, and diamond core drilling.
- At Atlas, significant progress in geological understanding has been derived from Mirasol’s initial interpretation US$8 million of exploration data generated under a recently terminated Joint Venture on the Gorbea package (see news release April 13, 2018 ).
- Outcomes include recognition of a large breccias complex at Atlas that is host to the better gold mineralization, a development of a new alteration vectoring model suggesting that a number of previous drill holes with anomalous Au+Ag assays may have been terminated early above the potentially better mineralized zone and recognition of new target areas where gold mineralization may occur closer to surface.
The scale of the Atlas Au+Ag system, combined with the relatively modest amount of exploration drilling to date ( 10,499 m in 26 holes) and the range of priority targets identified, highlights the project as a large, under-explored HSE system, requiring further drill testing for potential large tonnage bulk minable Au+Ag mineralization.
Atlas Prospect Update
Atlas is centered on the Dos Hermanas andesite to dacite composition, lava, pyroclastic and dome field that hosts the large-area, argillic to advanced argillic alteration and Au+Ag system which characterizes the prospect. A combination of assays from detailed stream sediment, soil and rock chip sampling outline a precious metal “footprint” for the Atlas system of approximately 14 sq. km.
A 53 sq. km conventional PDP electrical geophysical survey over the central part of the Atlas project outlined large resistivity anomalies along the NE oriented Cerro Chaco fault zone and a 4.5 km diameter resistivity feature, interpreted to delimit a large zone of stronger alteration and silicification (Figure 2). The circular resistivity feature contains the more significant bodies of breccia identified to date, that host the better intersections of Au+Ag mineralization encountered in drilling at Atlas. Only a small part of the circular resistivity feature has been drill tested at this time.
Recent radiometric age-dating of alunite alteration associated with Au+Ag mineralization at Atlas has returned a determination of 20.6 ma ±0.6 ma1. Previous reported age-dating of alunite from Mirasol’s adjacent Titan Au (Cu) project, returned an age date of 17.08 ma ±0.8 ma2. These ages correlate with Lower to Middle Miocene mineralization events recognized in the Maricunga Au+Ag+Cu Belt, located 150 km to the south, which has produced significant metallic deposits, including Pan Pacific Copper’s Caserones mine (4.6 Mt Cu3) and Kinross Gold Corporation’s La Coipa High Sulfidation Epithermal (HSE) Au+Ag district (5.5 Moz Au and 295 Moz Ag4; Figure 1).
Exploration at Atlas has shown Au+Ag mineralization is hosted by:
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1) |
Vuggy silica – alunite structures, such as the 900 m long Atlas Gold Zone (AGZ) where limited shallow drilling on the NW end of the structure returned an anomalous intersection of 24 m at 0.18 g/t Au and 13.1 g/t Ag (Table 1). The un-drilled areas of higher-grade rock chip sampling at the center and SE end of the AGZ trend returned assays of up to 8.86 g/t Au and 44.7 g/t Ag and 16.75 g/t Au and 43.9 g/t Ag, representing a target area for future drilling. |
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2) |
Multiphase phreatomagmatic and hydrothermal breccia bodies, that are seen at various prospects across the Atlas project. Where mineralized, these breccias are altered to quartz-alunite ± jarosite ± dark hematite assemblage with vuggy silica textures. The Steam Heated Zone (SHZ) breccia body hosts the best drill intersections to-date, which reported 114.1 m at 1.07 g/t Au and 1.8 g/t Ag, including 36 m at 2.49 g/t Au and 3.1 g/t (Table 1). Brecciation is a key feature in many large HSE precious metal deposits, where the breccia bodies act as both a conduit for mineralizing fluids and a host rock for economic concentrations of mineralization. The presence of widespread strongly altered brecciation is considered one of the positive features of the Atlas project. |
The SHZ Au+Ag mineralized breccia body has not been fully delineated by drilling. As currently defined by 0.1 Au g/t cutoff, the body has dimensions of 950 by 500 m , up to 120 m thick and is open to depth and laterally in all directions. The SHZ mineralization is located beneath a +230 m “barren” alteration cap. The presence of a barren alteration cap at Atlas is a characteristic in common with other recent HSE Au+Ag discoveries in the Mio-Pliocene belt, including the Salares Norte deposit (3.7 Moz Au and 49.5 Moz Ag 5) located 65 km to the south of Atlas, undergoing a feasibility study by Gold Fields Ltd6.
Relogging of Atlas core holes by Mirasol along a NW-SE oriented cross section through the SHZ body (Figure 3 and Figure 4) has led to the following understanding of the prospect:
|
1) |
The SHZ mineralization may be located at progressively shallower depths to the NW, toward a 700 m long gap in drilling, located between the SHZ breccia zone and the AGZ. Drilling to test for shallower potential high-grade mineralization in this “gap” is a priority; |
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2) |
The development of a more detailed alteration / mineralization model for the SHZ breccia mineralization. The model suggests that the better mineralized zone has a low-grade outer “jarosite alunite cap” that is recognized as either a jarosite-alunite matrix vuggy breccia or a cream-coloured, jarosite-bearing silica veinlets or breccia matrix. Au+Ag grade improves beneath the low grade “jarosite- alunite cap” and at depth into the mineralized body. |
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3) |
Mineralization is deeply oxidized beyond the base of drilling to +370 m below surface. Au+Ag is associated with a multiphase breccia with vuggy quartz textures and coarse alunite ± jarosite and dark hematite interpreted to be after original sulfide. |
The recognition of a low-grade jarosite-alunite cap, immediately overlying the SHZ mineralization may be used to vector to zones of potentially better Au+Ag grade at the SHZ. This highlights that a number of drill holes in the SHZ and other breccia bodies (holes CLATDH0016, 21, 23 and 25) at Atlas appear to have been prematurely terminated in the low-grade cap, potentially not intercepting nor testing the underlying potentially better-grade mineralization. The presence of deep oxidation associated with hematite replacement of original sulfide mineralization has also been noted at the giant Veladero HSE gold mine (17.3 Moz Au and 195.5 Moz Ag 7) operated by Barrick Gold in the Mio-Pliocene belt of Argentina , where deep oxidization of the mineralization is attributed to a combination of late-stage heated ground water collapsing into the system at the later stages of the mineralizing system, as well as post mineral supergene processes. Oxidation of the mineralization can be an indication of positive metallurgical characteristics for gold recovery in HSE precious metal deposits.
Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Charter Professional geologist and Fellow of the Australasian Institute of Mining and Metallurgy (CP and FAusIMM) and is a Qualified Person under NI 43 -101.
Under the terms of the pervious Gorbea Joint Venture (terminated in April 2018 ), all exploration was managed by the then joint venture partner. Pre-joint venture exploration on the projects was managed by Stephen C. Nano , who is the Qualified Person under NI 43-101. Exploration data generated from the previous Gorbea Joint Venture program was reviewed and validated by Mirasol prior to release. The technical interpretations presented here are those of Mirasol Resources Ltd.
Mirasol applies industry standard exploration sampling methodologies and techniques. All geochemical rock and drill samples are collected under the supervision of the company’s geologists in accordance with industry practice. Geochemical assays are obtained and reported under a quality assurance and quality control (QA/QC) program. Samples are dispatched to an ISO 9001:2008 accredited laboratory in Chile for analysis. Assay results from surface rock, channel, trench, and drill core samples may be higher, lower or similar to results obtained from surface samples due to surficial oxidation and enrichment processes or due to natural geological grade variations in the primary mineralization.
Forward Looking Statements: The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. Mirasol disclaims any obligations to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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1 |
Ar/Ar radiometric age date determination commissioned by Yamana Gold, performed at Sernageomin Geochronology Laboratories in Santiago, Chile. |
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2 |
Ar/Ar radiometric age date determination commissioned by Mirasol Resources, performed at Australian National University Argon Facility in Canberra, Australia |
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3 |
S&P Global Market Intelligence |
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4 |
S&P Global Market Intelligence |
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5 |
Gold Fields Mineral Resource and Mineral Reserve Supplement to the Integrated Annual Report,2017. |
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6 |
Gold Fields. (2017). Integrated Annual Report 2017. |
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7 |
S&P Global Market Intelligence |
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Additional Explanatory Notes: |
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* |
AuEq60 is the sum of the value of gold and silver in a given interval represented as a gold equivalent g/t value calculated via the formula: Au assay in g/t + (silver assay in g/t ÷ 60) |
SOURCE Mirasol Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/January2019/07/c2605.html
Dear Subscribers, on behalf of Stock Pulse we are happy to share the following interview. Please click here to visit our friends at Stock Pulse.
With Kindest Regards, We Are,
Proven and Probable
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Vancouver, British Columbia–(Newsfile Corp. – December 13, 2018) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce the execution of a purchase agreement (the “Agreement”) for the sale of the Bleikvassli, Sagvoll, and Meråker polymetallic projects in Norway, and the Bastuträsk polymetallic project in Sweden to OK2 Minerals Ltd. (“OK2”) (TSX Venture: OK). The Agreement provides EMX with a 9.9% equity interest in OK2, advance royalty payments, and a 3% net smelter return (“NSR”) royalty interest in the projects, as well as a 1% NSR royalty on OK2’s Pyramid project in British Columbia.
The four Scandinavian projects (the “Properties”) provide OK2 with a portfolio of prospective properties for its newly created European Business Unit, and will provide OK2’s shareholders, including EMX, with substantial value creation upside. The Properties contain historic mining areas and/or historic, drill-defined zones of polymetallic base metal mineralization (zinc-lead-copper) with variable levels of precious metal enrichments (silver ± gold). There is significant exploration potential, as little to no modern work has taken place on the projects, with the exception of Bastuträsk. Please see the attached map and www.EMXroyalty.com for more information.
Commercial Terms Overview (dollar amounts in USD, unless otherwise noted):
- EMX will transfer to OK2 the Bleikvassli, Sagvoll, and Meråker exploration licenses in Norway, and its Bastuträsk exploration permits in Sweden at closing.
- Upon the closing of this transaction, OK2 will undergo a corporate restructuring by share consolidation and change its name to Norra Metals Corp.
- OK2 will issue to EMX that number of common shares of OK2 that represents a 9.9% equity ownership in OK2 at closing. OK2 will have the continuing obligation to issue additional shares of OK2 to EMX to maintain its 9.9% interest in OK2, at no additional cost to EMX (subject to a maximum of 13,398,958 post-consolidation common shares), until OK2 has raised CDN $5,000,000 in equity to fund exploration and development on the Properties, or until five years after closing, whichever occurs first. Thereafter, EMX will have the right to participate pro-rata in future financings at its own cost to maintain its 9.9% interest in OK2.
- Further, there is an additional provision that requires OK2 to raise and spend CDN $2,000,000 on the Properties within two years of the closing date, otherwise EMX’s 9.9% equity ownership shall be increased to a 14.9% continuing equity interest (subject to a maximum of 21,350,956 post-consolidation common shares).
- EMX will retain an uncapped 3% NSR royalty interest on each of the Properties. Within six years of the closing date, OK2 has the right to buy down up to 1% of the royalty retained by EMX on any given project (leaving EMX with a 2% NSR royalty) by paying EMX $2,500,000. Such a buy down is project specific.
- EMX will receive annual advance royalty (“AAR”) payments of $20,000 for each of the Properties commencing on the second anniversary of the closing, with each AAR payment increasing by $5,000 per year until reaching $60,000 per year, except that OK2 may skip AAR payments on two of the four Properties in years two and three provided payments are made on the other two Properties in years two and three. Once reaching $60,000, AAR payments will be adjusted each year according to the Consumer Price Index (as published by the U.S. Department of Labor, Bureau of Labor Statistics).
- EMX will receive a 0.5% NSR royalty on any new mineral exploration projects generated by OK2 in Sweden or Norway, excluding projects acquired from a third party containing a mineral resource or reserve or an existing mining operation. These royalties are not capped and not subject to a buy down.
- EMX will also receive a 1% NSR royalty on OK2’s Pyramid project in British Columbia at closing.
- EMX will have the right to nominate one seat on the Board of Directors of OK2.
- Closing is subject to approval by the TSX Venture Exchange.
Properties Overview
The Scandinavian Properties contain a combination of Volcanogenic Massive Sulfide (“VMS”) and sedimentary exhalative (“SEDEX”) polymetallic deposits. Magmatic sulfide type nickel-copper-cobalt mineralization is also present on portions of the Sagvoll project in Norway.
Bleikvassli. The 6,000 hectare (“Ha”) Bleikvassli licenses are located near the Norwegian city of Mo-i-Rana, and contain the historic Bleikvassli mine area, which saw production of lead, zinc and silver mineralization from 1914-1997[1]. The mine was one of the last metal mines to operate in Norway, and was closed only when flooded in the late 1990’s. The styles of mineralization at Bleikvassli have been the subject of debate, with some authors favoring a VMS origin for the deposit, while others have favored a sedimentary exhalative (“SEDEX”) model. In either case, the deposit consists of stratiform/stratibound lenses of lead-zinc-silver massive sulfide mineralization, which locally grades into more copper and gold-rich compositions. The lenses mined at Bleikvassli constitute a portion of an extensive zone of sulfide mineralization that extends well beyond the mine area, as indicated by historic exploration drilling and extensive surface mapping.
Sagvoll. The 11,000 Ha Sagvoll project is located northeast of the Norwegian city of Trondheim. The Sagvoll licenses contain multiple areas of historic mining, where copper and other metals were mined in the 19th and early 20th centuries. VMS style mineralization is developed throughout the areas of historic mine workings, and along extensive geophysical anomalies that extend for over 25 kilometers along strike of the mine workings. Also present in the southeastern portion of the license area are historic nickel-copper sulfide mines and prospects.
Meråker. Like Sagvoll, the 18,600 Ha Meråker project is located near the Norwegian city of Trondheim, and contains multiple historic mines and prospects developed on trends of polymetallic VMS style mineralization. Copper was the chief product from many of the historic mines, but significant zinc mineralization is seen in the mine dumps and outcrops in the area. There are several parallel trends of mineralization within the project area, extending for nearly 30 kilometers along strike. Little modern exploration has taken place at Meråker.
Bastuträsk. The 4,700 Ha Bastuträsk exploration permits are located in the Skellefteå district, which is one of Sweden’s most prolific mining districts. VMS style sulfide mineralization was discovered at Bastuträsk by Boliden AB in the 1960’s, and was drilled intermittently in various programs through the early 2000’s. The mineralization is hosted by a folded sequence of volcanic and volcanoclastic sedimentary rocks. The mineralization does not outcrop in the area, and is only known through drilling and as projected from geophysical data. Drill defined zones of mineralization are developed over an area of several kilometers near the apparent nose of a prominent fold hinge.
Pyramid Project Overview
OK2’s 12,700 Ha Pyramid project is located along the Dease River at the northern edge of British Columbia’s “Golden Triangle” region. The project contains extensive zones of both porphyry gold-copper and epithermal style mineralization developed in Quesnel Terrane host rocks, one of the key hosts for porphyry deposits in British Columbia. The property has undergone extensive surface mapping, sampling and geophysical surveys, along with recent reconnaissance drilling (2016 and 2017). More information about the project, including drill results, are available on the OK2 website.
About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.
The sale of the Properties in Norway and Sweden to OK2 is another example of EMX’s execution of its royalty generation business model, and provides additional organic royalty property growth for EMX, as well as establishing a substantial equity position in the partner company. These interests provide EMX and its shareholders immediate exposure to equity upside, while the royalty interests provide longer term exposure to the optionality of continued exploration success and the potential for future mineral production revenues.
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.
-30-
For further information contact:
David M. Cole
President and Chief Executive Officer
Phone: (303) 979-6666
Email: Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@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 merits of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,“ “intend,“ “expect,“ “anticipate,“ “will“, “believe”,“potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company‘s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended onSeptember 30, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year that ended on December 31, 2017, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the 20-F 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.
Cannot view this image? Visit: http://media.zenfs.com/en-US/homerun/newsfile_64/c957666d8d323b019347528d8004e6c9
Figure 1. Properties in Norway and Sweden sold by EMX to OK2.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/1508/41619_80f3f742c4c07bfe_002full.jpg
[1] Geological Survey of Norway Ore Database, Deposit Area 1832-012.