Vancouver, British Columbia–(Newsfile Corp. – February 19, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (“EMX” or the “Company”) is pleased to announce it has received 4,808,770 common shares of Norra Metals Corp. (“Norra”) (TSXV: NORA), representing a 9.9% equity stake in Norra. EMX acquired the shares pursuant to the sale of the Bleikvassli, Sagvoll and Meråker polymetallic projects in Norway, and the Bastuträsk volcanogenic massive sulfide (“VMS”) project in Sweden (the “Projects”), as announced in the Company’s news release dated December 13, 2018.
EMX will retain a 3% net smelter return (“NSR”) royalty on the Projects, as well as other consideration to the Company’s benefit. EMX has also been granted a 1% NSR royalty on Norra’s Pyramid project in British Columbia. The TSX Venture Exchange has approved the details of the transaction and transfer of the Projects from EMX to Norra, subject to customary final filings.
Norra Metals Corp. (previously OK2 Minerals Corp.) is a Vancouver-based exploration company with two projects in British Columbia’s “Golden Triangle”, as well as the four Scandinavian Projects acquired by Norra from EMX. Norra’s management team has considerable experience working in Scandinavia from previous ventures, and EMX will work closely with Norra to ensure timely advancement of the Projects in Scandinavia. Norra and EMX are in the process of obtaining work plan permits for the Projects, and expect exploration work will commence in early spring.
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.
-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.
VANCOUVER, British Columbia, Feb. 19, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (“Riverside” or the “Company”) (TSX-V: RRI) (RVSDF) (R99.F), is pleased to announce that partner Sinaloa Resources Inc. has entered into a Definitive Agreement (the “Agreement”) signed on January 30, 2019 that begins with an Initial Option to acquire a 70% interest in the La Silla Project (the “Project”). Sinaloa Resources has issued Riverside 1,000,000 common shares and now paid $60,000 total in cash. Riverside and Sinaloa Resources expect the commencement of a first phase $300,000 exploration program in the coming months, as per the Agreement (see Table 1 below).
Under the terms of the Agreement, the Initial Option to earn 70% is predicated upon the issuance by Sinaloa Resources of shares at a value of $1,000,000, $60,000 in cash payments and exploration work totaling $2,000,000 over 36 months (see Table 1 below).
Riverside’s President and CEO, John-Mark Staude, stated:“We are pleased to move forward with Sinaloa Resources in the La Silla precious metal district in Sinaloa, Mexico. The last exploration and drilling program at La Silla intersected high grades and we look forward to operating and collaborating with our partner to build on historical success in this district.”
Riverside has completed extensive generative prospecting work at the Project including rock-chip and grab samples up to 19.9 g/t Au and 200 g/t Ag. Riverside’s previous work programs focused on extending known areas of mineralization, such as the Ciruelo and El Roble veins (see press release June 19, 2018). Further property-wide exploration also successfully identified new showings, structures and historical abandoned workings as part of the Company’s generative work aimed at developing additional exploration target areas to increase the pipeline of new discovery targets at La Silla.
Sinaloa Resources is currently a privately held company and intends to pursue a listing transaction on either the TSX Venture Exchange (“TSXV”) or the Canadian Securities Exchange (“CSE”) within 12 months of execution of the Definitive Agreement. The Agreement also includes several provisions that protect Riverside in the event of early termination or a late listing transaction.
Table 1: Initial Option – Sinaloa Resources to acquire 70% interest in La Silla
Due Dates
Cash
Payments
$ Value of
Shares to be
Issued
Exploration
Expenditures
Upon Execution of the LOI
$25,000
Nil
Upon Execution of the Definitive Agreement
$35,000
$100,000
12 Months from the Date of the Definitive Agreement
$100,000
$300,000
24 Months from the Date of the Definitive Agreement
$100,000
$700,000
36 Months from the Date of the Definitive Agreement
$700,000
$1,000,000
Total:
$60,000
$1.000,000
$2,000,000
All amounts in Canadian dollars
Additional Agreement Details:
To earn an additional 30% (the “Additional Option”), Sinaloa Resources must incur a further $1,000,000 in exploration work and issue Riverside additional Sinaloa Resources shares at a value of $500,000. Riverside will retain a 3% NSR on the Project should Sinaloa Resources complete 100% earn-in, or Riverside’s interest dilutes to less than 10%. Qualified Person & QA/QC:
The scientific and technical data contained in this news release pertaining to the La Silla 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.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The company has fewer than 45M 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
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.
KELOWNA, BC , Feb. 14, 2019 /CNW/ – FISSION 3.0 CORP. (“Fission 3” or “the Company“) is pleased to announce results from the winter drill program at its PLN project in the Athabasca Basin region of Saskatchewan, Canada . A total of 2,051m were drilled in six completed holes and two holes that were abandoned due to poor ground conditions. Drilling focused on the north-south trending A1 basement hosted electromagnetic “EM” conductor, where previous drilling in 2014, including hole PLN14-019 ( 6.0m @ 0.012% U3O8), indicated the conductive corridor to be prospective for mineralization. All six holes encountered strong hydrothermal alteration over variable widths and a number of narrow radiometric anomalies, including a downhole radiometric peak of 1,382cps (PLN19-026), often a key signature of mineralized systems. The A1 conductive corridor remains prospective to the south and PLN hosts multiple drill targets that remain untested on the property, and will be the subject of future exploration.
Fission 3.0 Logo (CNW Group/Fission Uranium Corp.)
New Drill Program Imminent. The company is prepping for a nine-hole work program at two of its Key Lake South projects – Karpinka Lake and Hobo Lake – which is expected to commence imminently. The Key Lake South projects are located approximately 40km south of the historic Key Lake mine and mill. In a setting analogous to Fission Uranium’s PLS project, the target is shallow depth, basement hosted uranium mineralization outside of the present day Athabasca Basin margin. The Key Lake Shear Zone (KLSZ) is a north-south trending, moderately meandering litho-structural corridor that is present north of the Key Lake deposit and continues to the south, through the Karpinka and Hobo Lake properties. The KLSZ is a primary feature associated with the occurrence of the historic Key Lake deposit and its presence on the Key Lake South properties represents an important exploration target.
News Highlights
PLN Highlights:
Key Lake South Highlights:
Ross McElroy , COO, and Chief Geologist for Fission, commented,
“Drilling this winter on the A1 conductive trend encountered encouraging alteration and radioactive anomalies. The six completed holes followed up a section of the trend where previous drilling indicated encouraging signs of potential mineralization. PLN is an exciting and highly prospective property in an emerging uranium camp in the Patterson Lake area, where recent nearby discoveries of world-class high-grade uranium deposits have been made. Future drill programs will continue to test the vast potential of the PLN project. We are also looking forward to our Key Lake South drill program, which will commence later this month.”
About PLN: The PLN package consists of a total of 36,537 ha in 37 mineral claims of which Fission 3 has a 90% interest in 27,408 ha (10 mineral claims) and a 100% interest in an additional recently staked 9,129 ha (27 mineral claims). Azincourt Energy Corp. holds a 10% interest in 27,408 ha of the PLN property.
The property, just inside the Athabasca Basin, is prospective for high-grade uranium at shallow depth. The property is adjacent to, and part of the same structural corridor as Fission Uranium’s PLS project, host to the Athabasca’s most significant major, shallow-depth, high-grade uranium deposit. Previous drill results show large scale potential. Drilling in 2014 identified a mineralized corridor associated with the A1 ~700m in strike length, where results returned significant mineralization and pathfinder elements (uranium, boron, copper, nickel and zinc) and included hole PLN14-019 which intercepted 0.5m at 0.047% U3O8 within 6.0m @ 0.012% U3O8.
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.
Table 1: Winter 2019 PLN Drill Hole Summary
Target
Hole ID
Collar
* Down-hole Radiometric Highlights
with Mount Sopris 2PGA-1000 Natural Gamma Probe
Overburden Depth
(m)
Athabasca
Sandstone
Thickness (m)
Basement Unconformity Depth (m)
Total Depth (m)
Azimuth
Dip
From (m)
To (m)
Width (m)
CPS Peak
A1 Conductor
PLN19-022
56
-62
184.8
185.6
0.8
547
115.6
19.5
135.1
290.0
PLN19-023
Abandoned
132.6
PLN19-023A
Abandoned
131.7
PLN19-023B
46
-77
148.5
149.4
0.9
731
114.8
13.1
127.9
389.0
PLN19-024
58
-72
203.6
204.9
1.3
912
111.5
8.0
119.5
266.0
214.3
216.1
1.8
891
PLN19-025
62
-72
196.4
196.7
0.3
548
118.8
0.2
119.0
299.0
199.3
199.6
0.3
644
212.8
213.6
0.8
834
PLN19-026
61
-79
154.0
154.3
0.3
712
108.5
16.8
125.3
353.0
162.8
163.2
0.4
1382
PLN19-027
47
-59
185.5
185.6
0.1
476
111.5
1.9
113.4
190.0
Total
2051.3
Hole by Hole Summary The current drill program tested down-dip and along strike to the north and south of PLN14-019.
PLN19-022 PLN19-022 was an angled hole designed to test the up-dip extension of anomalous shear hosted radioactivity intersected in PLN14-019 ( 6.0m averaging 0.012 % U3O8). The drill hole intersected moderately bleached and fractured Athabasca sandstone from a depth of 115.6m to 135.0m , underlain by a thick sequence of variably hematite, clay and chlorite altered granite, granitic gneiss, mafic intrusive and pegmatite. A thin brittle-ductile shear zone was intersected from 177.7m to 185.5m with elevated radioactivity occurring between 180.0m to 180.5m up to 300 counts per second (cps) on a RS-121 handheld scintillometer. Fresh basement rocks were intersected at a depth of approximately 240m to a final depth of 290.0m .
PLN19- 023B PLN19- 023B was an angled drill hole collared 30m grid north of PLN14-019, targeting PLN14-019 anomalous shear hosted radioactivity along strike. The first and second attempts to test this target, drill holes PLN19-023 and PLN19-023A, respectively, were both lost shortly after reaching bedrock due to poor ground conditions. PLN19- 023B cored Athabasca sandstone from 114.8m to 127.9m underlain by a sequence of variably altered granite, granitic gneiss and mafic intrusives. Millimeter scale black radioactive blebs were identified in strongly hematized basement rock around 139m down hole, returning up to 210 cps on a RS-121 scintillometer. A thin brittle-ductile shear zone was intersected from 188.2m to 193.7m but was not radioactive. Fresh basement rocks were intersected at a depth of approximately 244m to a final depth of 354.8m .
PLN19-024 PLN19-024 was an angled drill hole collared 30m grid south of PLN14-019 targeting the anomalous shear hosted radioactivity along strike. Strongly fractured, locally bleached and hematized Athabasca sandstone was intersected from 111.5m to 119.0m . The Athabasca sandstone was underlain by variably altered granite, orthogneiss and mafic intrusives with a strongly clay altered graphitic mylonite occurring between 201.2m to 224.3m . No anomalous radioactivity was intersected and the hole was terminated in fresh basement at a depth of 266.0m .
PLN19-025 PLN19-025 was an angled drill hole collared 30m grid south of PLN19-024. The hole was designed to further test the strongly altered graphitic mylonite along strike. A thin lens of Athabasca sandstone was intersected from 118.8m to 119.0m which was underlain by variably clay, chlorite and hematite altered granite, orthogneiss, mafic intrusives and pegmatite. A thick graphite and sulphide-rich shear zone was intersected from 193.8m to 211.8m with weak hydrothermal alteration present throughout. The hole was terminated in fresh basement at a depth of 299.0m .
PLN19-026 PLN19-026 was an angled drill hole collared 80m grid west of PLN19-024 and targeted the down dip projection of the strongly altered graphitic shear zone, testing for basement hosted uranium mineralization at depth. Athabasca sandstone was intersected from a depth of 108.5m to 125.3m , underlain by weakly hematite, chlorite and clay altered granitic gneiss, mafic intrusives and granites. A weakly altered graphitic mylonite was intersected from 259.2m to 268.0m , with an associated radiometric peak of 1328 cps ( 162.8m to 163.2m ). The hole was terminated in fresh bedrock at a final depth of 353.0m .
PLN19-027 PLN19-027 was drilled approximately 1 km grid south of PLN14-019 and tested the up-dip projection of a graphitic shear zone intersected in drill holes PLN14-011 and PLN14-012 where a coincident north-south trending magnetic low is present. Athabasca sandstone was intersected from 111.5m to 113.4m , underlain by weak to moderately altered granite and orthogneiss to a depth of 190.0m where the drill hole was lost due to poor ground conditions. No anomalous radioactivity was intersected.
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-121 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.
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.
VANCOUVER, BRITISH COLUMBIA, January 29, 2019 – Millrock Resources Inc. (TSX-V: MRO, OTCQX: MLRKF) (“Millrock” or the “Company”) reports that results from a drilling program completed at the La Navidad gold project in Sonora State, Mexico have been received. The program focused on the northwestern portion of the project. Four holes were drilled at El Tigre prospect, where gold had been detected by soil sampling in the vicinity of historic mine workings. The drill holes tested induced polarization geophysical anomalies and northwest-trending high-angle structures that appear to control mineralization observed at surface. Four further holes tested El Chupadero prospect where alteration (decalcification and jasperoid replacement of limestone) pointed to the possibility of an intrusion-related gold deposit. In total, eight holes totaling 1,844 meters were drilled in the program. The exploration work was funded under an option to joint venture agreement by Centerra Gold Inc. (“Centerra”).
The drilling results were generally disappointing. Only a few weakly anomalous gold values were returned. The alteration and mineralization observed at surface appear to weaken in the subsurface. It does not appear that further exploration work on these prospects is warranted.
Millrock has received notification from Centerra that it is terminating the option to joint venture agreements on both La Navidad and El Picacho gold projects.
Millrock President & CEO Gregory Beischer stated “Millrock thanks Centerra for the investment they made in advancing these projects. While Centerra has elected to leave, we strongly believe the projects have excellent technical merit. We think they will be attractive to mid-tier or smaller mining companies. Our intention is to seek out new funding partners, but at the same time we will have to balance the cost to hold to La Navidad and El Picacho concessions in the face of Millrock’s currently limited cash position.”
Corporate Developments:
PolarX Shares and Cash Position
Vancouver, British Columbia–(Newsfile Corp. – January 28, 2019) – EMX Royalty Corporation (TSXV: EMX) (NYSE American: EMX) (the “Company” or “EMX”) is pleased to announce Boreal Metals Corp.’s (“Boreal”) recent diamond drill results and the discovery of a high grade zone of zinc-silver-lead-gold mineralization at EMX’s Gumsberg royalty property. EMX is a royalty holder on the Gumsberg project, and currently owns a 9.4% equity interest in Boreal. Gumsberg is located in the Bergslagen mining district of southern Sweden. The drill results include 11.00 meters averaging 5.90% zinc, 239.0 g/t silver, 2.51% lead, and 0.96 g/t gold in hole GUM-18-003, and 11.01 meters averaging 7.45% zinc, 275.1 g/t silver, 2.65% lead, and 0.77 g/t gold in hole GUM-18-004 (true widths estimated at 50% of reported interval lengths). EMX congratulates Boreal on its new high grade discovery, termed the South Zone, and looks forward to further advancement of the Company’s Gumsberg royalty interests.
Boreal reported results from the first four holes of its recently completed nine hole, 1,620.8 meter winter drill program, including GUM-18-003 and GUM-18-004, which intersected South Zone massive sulfide mineralization east and west of previously reported hole BM-17-005 (10.94 meters averaging 16.97% zinc, 656.7 g/t silver, 8.52% lead, and 0.76 g/t gold; true width estimated at 20-50% of reported interval length). The South Zone occurs near the historic Östra Silvberg mine, and is currently delineated as 130 meters of eastward plunging mineralization that remains open for expansion to the east and at depth. Holes GUM-18-001 and GUM-18-002, drilled west of the South Zone, did not return significant intercepts. GUM-18-001 terminated when it drilled into an unmapped mine working, and GUM-18-002 deviated from plan and failed to intersect the target horizon.
Boreal reported that additional assays pending from the remaining holes of the winter campaign are expected in the coming weeks. Please see Boreal’s news release dated January 28, 2019 for further details, and Appendix 1 of this news release for a table of drill results reported by Boreal.
EMX has a significant equity interest in Boreal, as well as its subsidiary company Boreal Energy Metals Corp. (“BEMC”), that resulted from the sale of Gumsberg and other royalty generation properties in Sweden and Norway[1]. EMX retains uncapped 3% net smelter return (NSR) royalty interests on each of the properties sold to Boreal and BEMC[2], including the Gumsberg project, and will receive annual advance royalty (AAR) payments and other considerations from the sale of the projects.
The Boreal agreements are an excellent example of EMX’s execution of the royalty generation aspect of the Company’s business model. EMX leveraged in-country geologic and business development expertise to acquire prospective properties on open ground, built value through low cost work programs and targeting, and partnered the projects for retained royalty interests, equity interests, and AAR payments. This business strategy has provided EMX with substantial share equity in Boreal and BEMC, exposure to exploration and discovery upside at no additional cost, and the potential for future royalty payments upon the commencement of production.
EMX continues to build its portfolio of precious metal, base metal, and cobalt properties in Scandinavia. Many new properties are available for partnership. Please see www.EMXroyalty.com for more information.
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.
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.
-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 nine month period that ended on September 30, 2018 (the “MD&A”), and themost 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.
Appendix 1
Drill results reported in Boreal’s January 28, 2019 news release.
Hole ID
From Meters
To Meters
Length Meters
Zn %
Ag g/t
Pb %
Au g/t
GUM-18-001
No significant intercepts; intersected previously unidentified mine stope.
GUM-18-002
No significant intercepts; geological interpretations suggest hole failed to reach the targeted horizon.
GUM-18-003
105.00
116.00
11.00
5.90
239.00
2.51
0.96
Including
105.00
108.00
3.00
5.71
386.00
2.30
2.33
and
109.65
111.10
1.45
23.78
666.48
9.37
1.72
and
113.00
114.00
1.00
4.73
222.00
2.83
0.70
and
114.80
116.00
1.20
6.96
227.00
3.49
0.31
GUM-18-004
162.16
173.17
11.01
7.45
275.12
2.65
0.77
Including
162.16
164.18
2.02
11.09
313.00
3.61
0.76
and
165.28
166.18
0.90
8.93
403.00
3.62
1.17
and
165.28
168.50
3.22
8.57
343.39
3.68
1.52
and
169.45
172.25
2.80
11.05
429.14
3.25
0.70
True widths are estimated to be 50% of reported interval lengths.
Statement of Quality Control, Quality Assurance and Core Handling Protocols reported in Boreal’s January 28, 2019 news release.
Drill core is logged and prepped for sampling before submittal to ALS in Malå, Sweden where it is cut, bagged and prepped for analysis. Accredited control samples (blanks and accredited standards) are inserted into the sample intervals regularly. Samples are dried (if necessary), weighed, crushed (70% < 2mm), and riffle split into two fractions. One is retained (coarse reject) and the other is pulverized to 85% < 75µm. Pulps are analyzed by ultra-trace ICP-MS (ME-MS41) and ICP-AES Au-Pt-Pd (PGM-ICP23). Over detection limit samples are reanalyzed using ore grade ICP-AES by aqua regia (ME-OG46) or by AAS in the case of high grade zinc (Zn-AAORE).
[1]See EMX news releases dated November 22, 2016, January 16, 2018, February 9, 2018 and April 11, 2018.
[2]Boreal and BEMC retain a right to purchase 1% of the NSR royalty on individual projects by paying EMX CDN $2,500,000 in cash and shares within five years of the closing date.
VANCOUVER , Jan. 28, 2019 /CNW/ – Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the “Company” or “Mirasol“) is pleased to report the signing of binding letter agreement (the “Agreement“) with Newcrest International Pty Limited, a wholly owned subsidiary of Newcrest Mining Limited (NCM.AX)(“NCM“), for an Option to Farm-in on the Gorbea High-Sulfidation Epithermal (HSE) gold projects (the “Project“) in Chile (Figure 1).
Mirasol’s CEO Stephen Nano stated: “Newcrest is the ideal partner for our Gorbea projects. Subject to drill permitting, Newcrest will this year fund drill testing of two, large Mio-Pliocene belt HSE Au+Ag projects at Gorbea and under a separate agreement, at the Altazor project in northern Chile “.
The Gorbea Agreement comprises a package of projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) lead properties, located in the Mio-Pliocene age mineral belt of northern Chile. NCM has the right to acquire, in multiple stages, up to 75% of the Gorbea Project by completing a series of exploration and development milestones and making staged option payments to Mirasol. NCM has committed to spend a minimum of US$4 million and to complete a minimum of 3,000 m of drilling over an initial 18-month period. NCM will operate the exploration program at Gorbea.
NCM and Mirasol are working collaboratively to advance the drill permitting process at Gorbea and upgrade the exploration camp ahead of the planned Q1 2019 restart of the exploration program that will initially focus on the Atlas project, including detailed re-mapping, alteration vectoring studies, 60 line-km of CSAMT geophysics, and diamond core drilling.
Terms of the Agreement
Option phase:
US$100,000 cash payment upon signing the Agreement;
NCM’s minimum commitment is to spend US$4 million and drill a minimum of 3,000m in the first 18 months of the exploration program;
NCM will operate the Project and will receive a 5% management fee; and
At the end of the Option phase, NCM will have the right to exercise the Farm-in phase of the Agreement.
Farm-in phase:
Stage 1: NCM will make a cash payment to Mirasol of US$500,000 , and will have the right to earn 51% of the Project over a 4.5-year period (total 6 years) by spending an additional US$15 million (total US$19 million ), which includes a minimum drilling commitment of 6,000 m to be completed within the first 2 years;
Stage 2: If NCM elects to proceed to Stage 2 of the Farm-in, it will make a cash payment to Mirasol of US$650,000 and have the right to earn 65% of the Project over an additional 1-year period (total 7 years), by funding the delivery of a positive preliminary economic assessment, in accordance with NI 43-101, on a resource of not less than 1 million ounces of gold at a cut-off grade of 0.30 grams per tonne (g/t);
Stage 3: If NCM elects to proceed to Stage 3 of the Farm-in, it will have the right to earn 75% of the Project over an additional 2-year period (total 9 years) by funding the lesser of either: (i) additional expenditures of US$100 million ; or (ii) the delivery of a positive bankable[1] Feasibility Study, in accordance with NI 43-101;
Stage 4: After completion of Stage 3, Mirasol can elect to: (i) contribute its proportionate 25% share of further development expenditures, (ii) exercise a one-time equity conversion option to convert up to 10% of its equity into a NSR royalty at a rate of 2.5% equity per 0.5% NSR royalty (max 2% NSR royalty) and then contribute funding to advance the Company’s remaining Project equity interest; or (iii) dilute. The rate of royalty dilution (up to 2% and triggered upon dilution of its interest to 10%) will be adjusted based on the percentage royalty acquired as part of the equity conversion option. NCM will hold a 0.5% NSR buyback right at fair market value exercisable on the conversion royalty or the dilution royalty.
After meeting the minimum commitment in the Option phase, NCM may terminate the Agreement at any time without liability. In the event that NCM should complete Stage 1, but elect not to proceed to Stage 2, NCM’s 51% interest shall be adjusted to a 49% interest. If NCM completes Stage 2, but elects not to proceed to Stage 3, the 65% interest shall be adjusted to 60% and the parties may agree to halt further exploration or continue and contribute in proportion to their interests or be diluted.
The Agreement also contains other customary terms, including extension rights to increase the duration of each stage in return for cash payments to Mirasol, and pre-emptive rights provisions should either party elect to sell its interest in the Project.
The Gorbea Project
The Gorbea Project comprises a package of nine projects totaling 26,684 ha, including the Atlas Au+Ag and the Titan Au (Cu) projects, located in the Mio-Pliocene age mineral belt of northern Chile. Mirasol has completed and reported (news release January 7, 2018 ) the results of an integrated analysis of the extensive Atlas database generated from exploration expenditures in excess of US$ 8 million completed under a prior joint venture agreement. The previous exploration identified a significant body of HSE gold mineralization at the Atlas project, which returned a drill intercept of 114 m grading 1.07 g/t Au, including 36 m grading 2.49 g/t Au (news release September 11, 2017 ). However, 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.
About Newcrest Mining Limited
Newcrest is one of the world’s largest gold mining companies, operating four mines in Australia and the Asia – Pacific regions. Newcrest has extensive experience developing and operating successful underground and open pit mines in culturally and geographically diverse environments. Newcrest seeks to identify and secure large mineral districts, or provinces, in order to establish long term mining operations.
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 .
Stephen Nano , President and CEO of Mirasol, has approved the technical content of this news release. Mr Nano is a Chartered 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 release.
_________________________
1
“Bankable” is defined as suitable to be submitted to a recognized financial institution as a basis for lending funds for the development of a mine
St. John’s – Altius Minerals Corporation (“Altius”) (TSX: ALS; OTCQX: ATUSF)reports that it has entered into an agreement to acquire a 2% Net Smelter Return Royalty covering the Curipamba copper-gold-zinc project (the “Curipamba Project”) from Resource Capital Fund VI L.P. and RCF VI SRL LLC (collectively, “RCF”) for US$10 million in cash.
The Curipamba Project, located in central Ecuador, is being developed under a 75:25 partnership between Adventus Zinc Corporation (“Adventus”) (TSX-V: ADZN; OTCQX: ADVZF), and Salazar Resources Ltd. (TSX-V: SRL). Altius currently holds 21% of the outstanding shares of Adventus.
The Curipamba Project includes the resource stage El Domo deposit, a near-surface, copper and gold rich massive sulphide deposit that has seen more than 50,000 metres of drilling to date, including approximately 18,000 metres in 2018. On January 31, 2018 Adventus announced the El Domo resource consists of Indicated Mineral Resources of 8.8 million tonnes grading 1.62% copper, 2.42% zinc, 0.27% lead, 2.34 g/t gold, and 48 g/t silver and Inferred Mineral Resources of 2.6 million tonnes grading 1.29% copper, 1.51% zinc, 0.14% lead, 1.09 g/t gold, and 29 g/t silver. An updated mineral resource estimate and Preliminary Economic Assessment is currently underway and is expected to be released during the first half of 2019. The Curipamba Project also encompasses more than 22,000 hectares of mineral rights that host several other prospective targets, many of which are expected to be advanced and tested during 2019.
Lawrence Winter, Ph.D., P.Geo., Vice‐President of Exploration for Altius, a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, is responsible for the scientific and technical data presented herein and has reviewed, prepared and approved this release.
Further detailed information regarding the project can be found by visiting www.adventuszinc.com and the most recent National Instrument 43-101 Technical Report relating to the project, dated March 9, 2018, is available at www.sedar.com. About Altius Altius directly and indirectly holds diversified royalties and streams which generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash, and thermal (electrical) and metallurgical coal. The portfolio also includes numerous predevelopment stage royalties covering a wide spectrum of mineral commodities and jurisdictions. Altius also holds a large portfolio of exploration stage projects which it has acquired for future transactions with industry partners that are anticipated to result in royalties and equity and minority interests for Altius. Altius has 42,851,726 common shares issued and outstanding that are listed on The Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices. For further information, please contact Flora Wood (fwood@altiusminerals.com) or Chad Wells at 1.877.576.2209
Join us at the 2019
Vancouver Resources Investment Conference
Dear shareholders and subscribers,
This weekend, on January 20th to 21st, the team from Millrock, along with dozens of the world’s top investment experts, will be gathering in Vancouver to talk markets, insights, and opportunities in this current resource environment. We invite you to stop by the Millrock booth – Booth 1213.
If you are attending, we look forward to providing you with an update of everything Millrock has accomplished in the last year, as well as a detailed look into what’s ahead. If you’d like to attend, use the promo code “VRIC19GUEST” to receive complimentary tickets, courtesy of Millrock. You can register here.
The exhibit hall will be open on Sunday and Monday between 10AM and 5PM, with the first keynote beginning at 8:30AM in the Speaker Hall. As well, Millrock will be part of Round Up 2019’s Project Generator Hub on Monday, January 28, from 9AM to 4PM. The Project Generators Hub will feature seven companies during each day of Roundup that specialize in generating exploration ideas and turning these ideas into active projects and we would love to see you if you are attending.
If you are unable to attend either but would still like a company update, simply reply to this message, email me at mhenderson@millrockresources.com, or contact me toll-free at 1-877-217-8978.
We look forward to seeing you!
Best regards,
Melanee Henderson, Investor Relations
Millrock Resources Inc.
MRO.V MLRKF.OTCQX
TF: 877-217-8978
Tel: 604-638-3164
mhenderson@millrockresources.com
Listen to the Wall Street experts ask the questions
david
Join Us: Paul Stephens, co-founder of RS Investments (Robertson Stephens) discusses the royalty model; EMX Royalty Corp. “Town Hall”-style (live & replay) webinar, Wed, Jan 16, 4:05 PM EST
This Wednesday, January 16th at 4:05 PM Eastern (EST) we will be covering the royalty model of resource investing with EMX Royalties and Silicon Valley legendary financier and investor Paul Stephens. The royalty model provides exposure to multiple upside opportunities, while minimizing the impact on a company’s treasury. (Think Wheaton, Franco Nevada, Osisko Gold Royalties and Sandstorm.) David Cole, Pres&CEO of EMX will be presenting.
EMX: website, presentation, stock page (US), stock page (CA), pre-registration link.
To help explain the model before the formal presentation by EMX Royalty, Paul H. Stephens, Stephens Investment Management (19% shareholder of EMX) will be speaking. Paul has been a leading figure in west coast asset management and investment banking for over thirty years. He is the co-founder and Managing Director of RS Investments. RS Investments (formerly Robertson StephensInvestment Management) is a San Francisco-based mutual fund group that managed over $10 billion in assets.(full bio at end of this email.)
Along with a live presentation by management, there will be an expert Q&A panel of Wall Street veterans asking the tough questions you may not have thought to ask. There will also be an opportunity to send in your questions. pre-register here
EMX Royalty Corporation has a long-standing track record of success in exploration discovery, royalty generation, royalty acquisition, and strategic investments. Their diversified, three pronged business approach provides exposure to multiple upside opportunities, while minimizing the impact on EMX’s treasury.
EMX’s business model is designed to efficiently manage the risks inherent to the minerals exploration and mining industry. Key elements and resulting advantages of their unique approach are:
The company organically generate royalties through low cost property acquisition and early-stage exploration to build value, and then develop partnerships with quality companies to advance the projects, with EMX retaining a royalty interest and receiving pre-production payments.
Their organic royalty growth is supplemented by purchases of royalties from other parties, as well as strategic investments.
Cash flow from royalties, advance royalties, and other property payments are supplemented by returns from strategic investments, and provide “self-funding” operating capital for our ongoing business initiatives.
Using this model, they sustainably grow the royalty portfolio, with minimal dilution to our shareholders.
EMX’s royalty and property portfolio spans five continents, and consists of a balanced mix of precious metal, base metal, and other assets.
Now all you have to do is listen…. Click below to pre-register (required):
• Projects & investments on five continents
• Total of over 1.8 million acres of mineral property assets from acquisition & evaluation of >5 million acres over 15 years
• Gold, copper, cobalt, polymetallic, & other interests
• Assets range from royalty properties to early stage exploration projects
• Diversified portfolio with multiple sources of cash flow: ‒ Royalty revenue from producing operations ‒ Sale of assets with retained royalty interests ‒ Pre-production payments from new and ongoing agreements
• Optionality from operators’ investments on EMX’s royalty properties
About Paul H. Stephens, Partner and Chairman
Paul Stephens is a Partner and Chairman of SIM. Paul has been a leading figure in west coast asset management and investment banking for over thirty years. He is the co-founder and Managing Director of RS Investments. RS Investments (formerly Robertson Stephens Investment Management) is a San Francisco-based mutual fund group that managed over $10 billion in assets.
Paul was also a co-founder of Robertson Stephens & Company (“RSCO”) with Sandy Robertson in 1978. While at RSCO, he initially headed up the firm’s research and institutional sales groups, before managing the Robertson Stephens venture capital group from 1984-1990. RSCO grew to become one of the world’s premier boutique investment banks, helping to finance hundreds of Silicon Valley growth companies. RSCO was sold to Bank of America in 1997 and then re-sold to BancBoston in 1998. Paul spearheaded RSCO’s expansion into the asset management business and launched the Orphan Fund in 1990 and the Contrarian Fund in 1993. These funds were part of the foundation of the RSCO asset management business that would later become Robertson Stephens Investment Management.
Paul is a past Chairman and board member of the Haas Business School Advisory Board at the University of California at Berkeley. As an Adjunct Professor of Finance at Haas, Paul taught an investment class for ten years entitled “Investment Styles and Strategies” to second-year MBA students. He has also been an active board member of DUMAC (the Duke Management Company), which manages Duke University’s endowment fund, as well as a director of the U.C. Berkeley Foundation. In 2002, Paul was named a Berkeley Fellow. Paul holds both Bachelor’s (1967) and Master’s (1969) degrees in Business Administration from the Haas School of Business at U.C. Berkeley.
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.
FORWARD
TWEET
