Proven ProbableEMX Royalty continues to expand their in their interest in the Goodpaster District of Alaska. To find out what the details of the companies latest developments read below. We are on record for stating that we will match our bullion purchases this year with purchases of EMX Royalty.
Mr. Scott S. Close
10001 W. Titan Road
Littleton, CO, USA 80125
Email: sclose@emxroyalty.com
Phone: +1 (303) 973-8585
The numbers are in! EMX Royalty has published their first quarter 2019 results. We are on record for stating that in 2019 that we will match our precious metals purchases with buying shares of EMX Royalty. For additional inquires please contact:
Mr. Scott S. Close
10001 W. Titan Road
Littleton, CO, USA 80125
Email: sclose@emxroyalty.com
Phone: +1 (303) 973-8585
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In this exclusive interview, Maurice Jackson of Proven and Probable sits down with Dr. John-Mark Staude the President and CEO of Riverside Resources (TSX.V: RRI | OTCQB: RVSDF) to announce a major breakthrough for shareholders. BHP and Riverside Resources are joining forces!
https://youtu.be/IhIm-1NPYMg
Transcript
Press Release
Find out why the value proposition for Millrock Resources just got more exciting for shareholders. Maurice Jackson of Proven and Probable sits down with Gregory Beischer the President, CEO, and Director of Millrock Resources (TSX.V: MRO | OTCQX: MLRKF) to discuss the latest developments regarding the Goodpaster District in Alaska. In particular, the company has successfully completed a strategic investment with EMX Royalty. Mr. Beischer shall provide the details of the investment how the funds will be deployed to increase shareholder value. Millrock Resources has staked claims adjacent to the Northern Star Resources property, which produces high-grade at an annual production rate of 300,000 oz.
https://youtu.be/hDvM0cnkNBA
View Transcript
Maurice Jackson of Proven and Probable sits down with David Cole the President and CEO of EMX Royalty (TSX.V: EMX | NYSE: EMX) to discuss the virtues of the companies highly successful business model that incorporates Royalty Generation, Royalty Acquisition, and Strategic Investments. Mr. Cole will address how the company is strategically positioning itself on the continued global demand for Copper. And equally important, what actions the company will take from the proceeds of the $67 Million U.S. just received on the sale from the Malmyzh Project in Russia. Equally important, Mr. Cole will highlight the enormous value proposition at Cukaru Peki located in Serbia. EMX Royalty continues to demonstrate business and geological acumen, which has produced spectacular results on their balance sheet and their project portfolio.
Proven and Probable:
Where we deliver Mining Insights & Bullion Sales, in form of physical delivery, offshore depositories, and private blockchain distributed ledger technology you may reach us at contact@provenandprobable.com.
April 18, 2019
Vancouver, British Columbia, April 18, 2019 (TSX Venture: EMX; NYSE American: EMX) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to announce that it has received a US $2 million escrow distribution, which in addition to the initial US $65.15 million payment in 2018, brings the total cash paid to EMX to US $67.15 million from the sale of the Malmyzh project. A second distribution of up to US $2 million, subject to certain conditions, is due to EMX later in 2019 as remaining funds are released from escrow. Malmyzh was sold by IG Copper LLC (“IGC”) to Russian Copper Company for US $200 million in October 2018.1.
IGC’s Malmyzh project was an important EMX strategic investment that exemplifies the portfolio effect of the Company’s diversified business model. Proceeds from the sale of Malmyzh, combined with ongoing royalty and pre-production payments, have yielded a robust balance sheet. EMX is utilizing this strong position to take advantage of new royalty generation, royalty acquisition, and investment opportunities to grow the portfolio and build shareholder value.
About EMX. EMX is a precious and base metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to the risks inherent to operating companies. The Company’s common shares are listed on the TSX Venture Exchange and the NYSE American Exchange under the symbol EMX. Please see www.EMXroyalty.com for more information.
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 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, 2018 (the “MD&A”), and the most recently filed Form 20-F for the year ended December 31, 2018, 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.
VANCOUVER, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (RRI.V) (RVSDF) (R99.F) is pleased to report initial results from the Company’s first-phase exploration program at the recently staked Sandy Project (the “Project”) located in northwestern Sonora, Mexico. Riverside continues to leverage its knowledge and experience in NW Mexico to cost-effectively acquire new prospective concessions with strong potential for new discoveries.
Riverside geologists have completed near surface sampling, mapping and geophysics to work up initial target areas at the Project. Riverside’s exploration team is targeting intrusion related and orogenic gold mineralization hosted by altered granite and linked with large structures adjacent to gneiss bedrock.
Riverside’s President and CEO, John-Mark Staude, stated: “The Sandy Project was a project the Company staked over a prospective area known to us from our past work in Sonora. We are pleased with the results from our first pass on the Sandy Project. Gold appears associated with large structures, intrusions and is an exciting potential step in the geologic deposit modeling for Sonora. We plan to follow up these positive results with some mapping and more sampling in 2019.”
The sampling done to date by Riverside has been concentrated on two areas in the center of the project with past historical mine workings (see Figure 1 below) associated with felsic intrusive stock and gneiss. A sample from one of these old workings returned 38.8 g/t Au. Chip channel samples of 1.5 meter in length returned gold results of 9.3 g/t, 4.7 g/t and 3.7 g/t Au. A total of 71 samples have been analyzed so far and further work at Sandy is anticipated to continue to define the structural nature and intrusion association to the gold.
Figure 1: Sandy Gold Target Areas and Geochemical Results.
Higher gold grades appear to be associated with intersecting structures within strongly foliated granitic intrusive bedrock. Primary structures strike NW-SE and dip between 40 and 70 degrees to the east in a general structural character with similar orientation and style to some of the shear zone gold mines in the region. Other smaller faults are noted striking roughly north-south and dipping steeply to the east which cut the main shear zone and could possibly hide extensive expansions of the gold system under shallow cover. The cross structures have been intruded by mafic dikes that show pervasive propylitic alteration indicating potential deeper intrusion related gold mineralization. The highest-grade gold material was found associated with a set of variously dipping felsic dikes which could be associated with the intrusive system. Silicification and minor quartz veining is noted associated with the structures and with through-going vein mineralization. The wall rock associated with these structures often shows sericitic and silica alteration.
Of note while visiting the property are the vast placer-gold workings immediately north of the project area. The source of the placer gold has not been determined and may be derived from intrusive bedrock within the Sandy project.
As can be seen in the district summary map (see Figure 1 above), the Riverside rock-chip samples confirm the existence of gold mineralization within the central part of the Company’s concession.
Click here to see the Sandy Project page on Riverside’s website.
Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the Sandy Project 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 in this news release is accurate and who acts as a “qualified person” under National Instrument 43-101 Standards of Disclosure for Mineral Projects.
The rock chip samples collected by Riverside’s field crew at the Sandy Project were taken from 4 main showings on the western slopes of the property, with most individual samples consisting of composites of bedrock fragments hammer-chipped from 0.5 and 1.5-metre-long intervals across rock faces showing evidence of alteration and silicification. The highest-grade sample which assayed 38.8 g/t Au was a select grab sample of loose rock found within a small underground working which are believed to date back to the 1960’s. The one grab sample is not representative of the mineralization that was chip-sampled from actual outcrops, however, they do support Riverside’s view that the Sandy property has excellent potential for the discovery of intrusion-related gold and silver mineralization. All of Riverside’s rock samples were analyzed at the Hermosillo and Vancouver laboratories of Bureau Veritas where gold content was determined by fire assaying with atomic adsorption finish and ICP-mass spectrometry was used to analyze for 45 other elements. For quality control purposes, three standard samples were included with the batch of 71 field samples.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 65M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico 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 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 | Raffi Elmajian | |
| President, CEO | Corporate Communications | |
| Riverside Resources Inc. | Riverside Resources Inc. | |
| info@rivres.com | relmajian@rivres.com | |
| Phone: (778) 327-6671 | Phone: (778) 327-6671 | |
| Fax: (778) 327-6675 | TF: (877) RIV-RES1 | |
| Web: www.rivres.com | 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 , March 21, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ) (OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to announce that Norman Pitcher , President and CEO, has been appointed to the Company’s Board of Directors following the resignation of Stephen Nano from the board. Mr. Nano will continue as an advisor the Company.
Mirasol’s Chairman, Dana Prince , welcomed Mr. Pitcher to the Board stating: “Norm’s considerable experience will ensure that we continue to advance exploration of the Company’s project portfolio and also strategically add new projects to sustain the Company’s long-term strategic objective of remaining a leading project generator. On behalf of the Board and the entire Company, we again thank Stephen for his years of service to the Company and look forward to continuing our association with him.”
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. 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 .
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/March2019/21/c7128.html
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
VANCOUVER, British Columbia, March 19, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (RRI.V) is pleased to announce it has closed its previously announced private placement. The placement was over-subscribed and the Company issued 17,488,875 units at a price of $0.16 per unit for gross proceeds of $2,798,220 instead of the 9,375,000 units ($1,500,000) originally contemplated.
Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22 (“Warrant”). If, at any time after July 20, 2019, the closing price of the common shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.
Management and insiders subscribed for 845,000 Units for $135,200 in total proceeds to the Company.
With respect to a portion of the funds raised in the private placement, the Company paid finders’ fees of $87,312 to Sprott Global Resource Investments Ltd., $20,076.80 and 12,000 Units to Haywood Securities Inc., 16,000 Units to Canaccord Genuity, and $1,280 to PI Financial Corp.
All securities issued pursuant to the private placement and as finders’ fees will be subject to a four-month hold period expiring on July 20, 2019.
The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships.
The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons without United States federal and state registration or an applicable exemption from registration requirements.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 65M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico 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 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.
First pass drill program returns encouraging results
TSX VENTURE SYMBOL: FUU
KELOWNA, BC, March 20, 2019 /CNW/ – FISSION 3.0 CORP. (“Fission 3” or “the Company“) is pleased to announce results from the first pass drill program at its Key Lake South properties (Karpinka Lake and Hobo Lake projects) in the south-east Athabasca Basin region of Saskatchewan, Canada. A total of ~1300m was drilled in eight completed holes, all of which encountered variably intense hydrothermal alteration and six holes with anomalous radioactivity. Of note, holes KL19-005, KL19-006 and KL19-007, drilled in the northern part of the extensive land package, encountered the most significant hydrothermal alteration and paleoweathering, which are considered important factors for hosting high-grade uranium mineralization and will be prioritized for follow up. With $6M in the treasury, Fission 3 is well poised to continue to explore on its extensive property portfolio.
Ross McElroy, COO, and Chief Geologist for Fission, commented,
“The drill program at Key Lake is the latest step in the ongoing exploration of our prospective uranium projects. With radioactivity and strong alteration in multiple holes, we are looking at very encouraging first pass results that warrant follow up drilling. The winter program will now progress with a ground geophysics DC resistivity survey on our Cree Bay property in the northeast basin area, as we focus on developing high-priority drill targets to be tested during the summer exploration program.”
About Key Lake South: The Key Lake area is an important historic mining district. The Key Lake operations is owned by Cameco Corp. (83%) and Orano Canada Inc. (17%) and hosted the former Key Lake mine, which produced 208 million pounds of uranium between 1975 to 1997 and is home to one of the largest uranium mills in the world. The Key Lake mill processed ore from the McArthur River uranium deposit, until Cameco announced in 2018 that McArthur River mining would be suspended indefinitely due to low uranium prices. The area is considered highly prospective to discover significant new uranium occurrences.
The 100% owned Key Lake South Projects consist of two projects (Karpinka Lake and Hobo Lake) covering 19,377 ha in 42 mineral claims. The properties are located approximately 40km south of the historic Key Lake mine. The projects are geologically situated within the extremely prolific Wollaston-Mudjatic Transition Zone “WMTZ”, notable for hosting the majority of the major high-grade uranium deposits on the eastern side of the Athabasca Basin. To the north, the Key Lake Deposit is hosted within the northern portion of northeast-southwest trending litho-structural feature known as the Key Lake Shear Zone “KLSZ”. The KLSZ continues southward through the Karpinka Lake and Hobo Lake projects. Together the properties cover approximately 50km of trend of the KLSZ, where a number of geochemical uranium anomalies have been discovered and where a network of EM conductors exhibit structural complexity including off-sets, breaks, folding and other geophysical features such as gravity and resistivity lows. These features are often associated with uranium mineralization occurrences.
Key Lake South Projects – Drilling Summary
Table 1: Winter 2019 Key Lake South Drill Hole Summary
| Property | Target | EM Conductor | Hole ID | Collar | * Down-hole Radiometric Highlights with Mount Sopris 2PGA-1000 Natural Gamma Probe |
Overburden Depth (m) |
Total Depth (m) |
||||
| Azimuth | Dip | From (m) | To (m) | Width (m) | CPS Peak | ||||||
| Karpinka Lake |
Key Lake Shear Zone | FOR-B-2220 | KL19-001 | 79 | -75 | 99.9 | 100.2 | 0.3 | 743 | 18.0 | 149.0 |
| 111.3 | 111.9 | 0.6 | 884 | ||||||||
| 114.9 | 115.3 | 0.4 | 984 | ||||||||
| 126.5 | 126.8 | 0.3 | 948 | ||||||||
| 129.4 | 131.8 | 2.4 | 1431 | ||||||||
| FOR-2 | KL19-002 | 274 | -50 | 53.5 | 53.8 | 0.3 | 1344 | 2.1 | 101.0 | ||
| 79.1 | 80.2 | 1.1 | 985 | ||||||||
| FOR-B-2220 | KL19-003 | 257 | -63 | 217.2 | 218.1 | 0.9 | 1492 | 15.3 | 251.0 | ||
| 220.3 | 220.6 | 0.3 | 693 | ||||||||
| KAR-3160 | KL19-004 | 277 | -54 | 69.1 | 70.0 | 0.9 | 1302 | 37.6 | 125.0 | ||
| KL19-005 | 86 | -61 | No anomalous radioactivity | 39.0 | 128.8 | ||||||
| KL19-006 | 90 | -52 | No anomalous radioactivity | 57.0 | 101.0 | ||||||
| KL19-007 | 86 | -67 | 113.7 | 114.3 | 0.6 | 840 | 29.0 | 152.0 | |||
| 118.7 | 119 | 0.3 | 595 | ||||||||
| N/A | KL19-008 | 271 | -55 | 212.3 | 212.5 | 0.2 | 550 | 7.3 | 293.0 | ||
| TOTAL | 1300.8 | ||||||||||
KL19-001
KL19-001 was an angled drill hole oriented parallel to the intermittent, weak, calc-silicate hosted radioactivity intersected in historic hole RO-01. The purpose of KL19-001 was to test the radioactive calc-silicate from the top of bedrock down to a depth of approximately 150m. Bedrock was intersected at a depth of 18.0m down hole and was comprised of variably clay, hematite, graphite and chlorite altered schist, cataclasite and calc-silicate. A strongly hematized calc-silicate was cored from 126.8m to 132.5m down hole which returned weak radioactivity up to 590 cps on a RS-125 handheld scintillometer. No other anomalous radioactivity was intersected, and the hole was terminated at a depth of 149.0m in weakly altered graphitic schist.
KL19-002
KL19-002 was an angled drill hole targeting the Key Lake Shear zone (KLSZ) approximately 950m south of KL19-001. Bedrock was intersected at a depth of 43.0 m down hole and was comprised of weakly altered orthogneiss and calc-silicate gneiss to a depth of 72.9m. From 72.9m to 80.3m a strongly sheared biotite-garnet gneiss was cored with a central 5.2mwide graphitic brittle-ductile fault zone. The hole was terminated at a depth of 101.0m in fresh orthogneiss.
KL19-003
KL19-003 was an angled drill hole targeting the weakly radioactive calc-silicate approximately 75m below that intersected in KL19-001. The drill hole aimed to assess the variability in previously intersected calc-silicate thickness and radioactivity with depth, and to test for parallel radioactive calc-silicate lenses. Bedrock was intersected at a depth of 15.3m down hole and was comprised of a thick sequence of biotite schist to a depth of 182.5m where a sheared, graphitic schist was intersected. A weakly radioactive calc-silicate lens was cored from 222.2m to 224.5m which returned up to 410 cps on a RS-125 handheld scintillometer. The hole was terminated at a final depth of 251.0m in fresh orthogneiss.
KL19-004
KL19-004 was an angled drill hole testing the southern extent of a large left stepping electromagnetic conductor trace ~7km north of KL-001. This flexure is interpreted to reflect a dilational zone in the KLSZ caused by sinistral strike-slip movement. Bedrock was intersected at a depth of 37.0m down hole and was comprised primarily of weakly hematite altered orthogneiss. An intercalacted sequence of weakly graphitic biotite-garnet schist and cataclasite was cored from 42.7m to 66.9m down hole. No anomalous radioactivity was intersected, and the hole was terminated at a depth of 125.0m in fresh orthogneiss.
KL19-005
KL19-005 was an angled drill hole testing the same large, left stepping KLSZ VTEM conductor trace as KL19-004, approximately 1 km further to the north. Bedrock was intersected at a depth of 39.0m down hole as was comprised of moderately to extremely bleached, clay, hematite, chlorite and graphite altered orthogneiss. A strongly graphitic, clay and chlorite altered cataclasite was intersected from 85.5m to 94.5m down hole. Thin limonitic fractures in the graphite altered orthogneiss at approximately 78m down hole returned elevated radioactivity up to 200 cps on the RS-125 handheld scintillometer. The hole was lost due to ground conditions at a depth of 128.8m in strongly chlorite and graphite altered orthogneiss.
KL19-006
KL19-006 was an angled drill hole testing the up-dip projection of the graphitic cataclasite in hole KL19-005. Bedrock was intersected at depth of 56.0m down hole and was comprised of weakly clay and chlorite altered orthogneiss. The drill hole is interpreted to have overshot the graphitic cataclasite which down-dropped the bedrock surface to the east (normal faulting). No anomalous radioactivity was intersected and the hole was terminated at a depth of 101.0m in weakly chlorite and clay altered orthogneiss.
KL19-007
KL19-007 was an angled drill hole testing the down-dip projection of the structural damage zone and strong alteration in KL19-005. Bedrock was intersected at a depth of 29.0m down hole and was comprised of extremely clay and chlorite altered graphitic cataclasite, variably altered graphitic schist, biotite schist and orthogneiss. Weak elevated radioactivity up to 160 cps was recorded on the RS-125 handheld scintillometer at 119.0m hosted in intercalated quartzitic and graphitic schist. Apart from the upper cataclasite no structural damage zone was intersected below KL19-005 and the hole was terminated at a depth of 152.0m in fresh orthogneiss.
KL19-008
KL19-008 was an angled drill hole testing for the northern extension of the historic DD-Zone where previous historic drilling returned up to 0.78% U3O8 over 0.5m. Bedrock was intersected at a depth of 7.3m down hole and was comprised of a thick intercalated sequence of graphite altered amphibolite and calc-silicate to a depth of 136.8m. Below 136.8m, the hole encountered weakly altered to fresh biotite-garnet schist and graphitic schist. A 0.20m granite intrusion at 90.5 m depth returned elevated radioactivity up to 540 cps. The hole was terminated at a depth of 293.0m in fresh biotite-garnet schist.
Natural gamma radiation in drill core that is reported in this news release was measured in counts per second (cps) using a Mount Sopris PGA-1000 Natural Gamma Probe and a hand-held RS-125 Scintillometer manufactured by Radiation Solutions. The reader is cautioned that scintillometer readings are not directly or uniformly related to uranium grades of the rock sample measured and should be used only as a preliminary indication of the presence of radioactive materials.
Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample will be sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK. Analysis will include a 63 element ICP-OES, and boron.
All depth measurements reported, including radioactivity and mineralization interval widths are down-hole, core interval measurements and true thickness are yet to be determined.
Cree Bay Exploration: In 2017 a ground DC Resistivity survey was completed in 2 separate grids centered on sections of strong conductivity interpreted from a historic airborne GEOTEM electromagnetic survey on what was then the Cree Bay property. Fission 3 subsequently staked additional ground to cover the most conductive part of this anomaly. The winter 2019 exploration work will thus continue to extend the ground geophysics survey over the anomaly, to determine the highest priority drill targets. The program will consist of a winter 21 line-km ground DC Resistivity survey and 2 lines of Moving Loop TDEM survey will be conducted during April to cover the most geophysically prospective area identified from a historic GEOTEM electromagnetic survey.
About Cree Bay: The Cree Bay property, located 20km south of the town of Stony Rapids, consists of 16 claims totaling 14,080 ha and sits on the inside edge of the north-eastern Athabasca Basin. The property is located along the major SW-NE trending Virgin River Shear Zone. Locally the conductive corridor is bound by the Black Lake Fault to the north and East Channel Fault to the south. The historic Nisto uranium mine, is located ~7.5km to the northeast, along the Black Lake fault.
The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed on behalf of the company by Ross McElroy, P.Geol. Chief Geologist and COO for Fission 3.0 Corp., a qualified person.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol “FUU.”
ON BEHALF OF THE BOARD
“Ross McElroy”
Ross McElroy, COO
Cautionary Statement: Certain information contained in this press release constitutes “forward-looking information”, within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur”, “be achieved” or “has the potential to”. Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Fission 3.0 Corp.