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Ken Griffin, Amazon Invest in Next-Generation Nuclear Energy

(Bloomberg) — Amazon.com Inc. and billionaire financier Ken Griffin are among the backers anchoring a $500 million investment in small nuclear reactors, a burgeoning technology heralded as the next era for atomic energy.

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The Seattle-based company has signed agreements to develop the new breed of reactors — dubbed small modular reactors, or SMRs — in both Washington and Virginia, investing in in X-Energy, a privately-held advanced nuclear reactor developer.

The financing will help pay for the development of more than 5 gigawatts of new power projects coming online across the US by 2039, X-Energy said in a statement Wednesday.

F3 Uranium, Proven and Probable

“It’s going to allow us to build smaller, self-contained power generation near data centers, near where we want in a completely safe and scalable way,” Matt Garman, chief executive officer of Amazon Web Services, said during remarks at the company’s offices in Arlington, Virginia.

Amazon’s announcement comes as technology companies are searching for new energy supplies to power massive data centers needed to run artificial intelligence systems. Alphabet Inc.’s Google announced Monday it was backing the nuclear power and signed an agreement with Kairos Power to construct a series of SMRs that use molten-salt cooling technology.

Data center expansion and other factors are expected to drive electricity demand up 15% to 20% over the next decade, according to the US Energy Department. Data centers could consume as much as 9% of the nation’s electricity generation annually by 2030, up from 4% in 2023, according to a report in May by the nonprofit Electric Power Research Institute.

Strathmore Plus Uranium, Proven and Probable

Amazon has also signed agreements with Washington State-based utility Energy Northwest and Virginia’s Dominion Energy, Inc. to develop SMR projects. Amazon said the reactors — which will be constructed, owned and operated by Energy Northwest — were expected to generate roughly 320 megawatts, with the option to expand to 960 megawatts total.

In Virginia, Amazon said it had signed an agreement with Dominion to explore the development of an SMR project at the utility’s existing North Anna nuclear power station that could bring at least 300 megawatts of power to the region.

Unlike traditional nuclear reactors, which are enormous facilities that take years to build, SMRs can be built at factories, delivered by truck or train, and then assembled on-site, saving time and money. Utilities can install just one or bundle several together, expanding the potential market by including countries that don’t need a big conventional nuclear plant.

Still, the technology hasn’t yet been deployed at scale, commercially.

And SMR’s have their critics, including those who say the economics of nuclear power is flawed no matter what the size of the reactors. NuScale Power Corp. announced in November it was canceling plans to build a series of SMRs in Utah amid surging costs.

Meanwhile, surging demand for power is prompting utilities to build more natural gas-fired plants, undermining lofty environmental goals for both the industry and tech firms.

“Artificial intelligence may be new, but claims that the next revolutionary nuclear technology will solve our energy problems have been around since we first split the atom,” Johanna Neumann, an official with Environment America, said in a statement. “It’s time for Big Tech to recommit to solutions that work and pose less risk to our environment and health, including making data centers as energy efficient as possible and committing them to be powered by new renewable energy sources.”

(Adds comment from Amazon executive in fourth paragraph)

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Original Source: https://finance.yahoo.com/news/ken-griffin-amazon-invest-next-125000817.html

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Junior Mining Precious Metals Uncategorized

Why gold is outperforming nearly everything so far this year

Gold futures (GC=F) have been surfing record highs, with Monday’s prices hitting $2,555.2 per ounce, sending the value of a 400 troy ounce gold bar to $1,022,080.

The yellow metal has forged meteoric gains this year, emerging as the world’s second-best-performing asset next to crypto. Its 23% year-to-date gain edges out the megacap-loaded Nasdaq Composite (^IXIC) — itself up a healthy 18%. (A proxy for the crypto market writ large, the Bitwise 10 Crypto Index Fund (BITW), is up 47% this year.)

According to BofA Global Research, gold funds just absorbed the largest inflows in four weeks, attracting $1.1 billion. Yet, the broader trend has actually seen $2.5 billion in outflows year to date, suggesting that underlying strength is coming from outside traditional fund flows.

Central banks — especially those of developing countries — have been buying the barbarous relic at a record clip. According to the World Gold Council, central banks have purchased 290 tonnes in the first quarter alone, beating out the prior Q1 record from 2023 and setting CBs on a path to record gold purchases in 2024 that are estimated to easily eclipse 1,000 tonnes.

“Not only is the long-standing trend in central bank gold buying firmly intact, it also continues to be dominated by banks from emerging markets,” wrote the Gold Council.

In that regard, Turkey tops the buy list this year with 30 tonnes purchased in the first quarter — lifting its gold reserves to 570 tonnes. China bought 27 tonnes in Q1, making it the 17th consecutive quarter of purchases and also bringing its holdings to 2,262 tonnes. Other notable purchasers include India, Kazakhstan, the Czech Republic, Oman, and Singapore.

The central bank buying spree has solidified gold’s status as a reserve asset. According to BofA, gold has now surpassed the euro to become the world’s largest reserve asset second only to the US dollar, representing 16% of the reserve pool.

The precious metal’s performance can be attributed to its unique position as a real asset with one of the lowest correlations to stocks across asset classes, making it a safe haven from market swings and inflation.

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According to Tom Bruni, head of market research at StockTwits, in a recent episode of Stocks in Translation, “We’re seeing gold being used as an uncertainty hedge.”

Bruni also emphasized gold’s appeal to traders due to its price action. “With gold breaking out above its 2011 highs, it’s drawing significant attention from trend followers and technical analysts alike.”

Investors looking for deep, liquid gold markets have a robust choice of futures markets, ETFs, and gold miner stocks and ETFs, which tend to be even more volatile than the underlying metal.

“The volatility in gold prices has made it a prime trading vehicle, whether through gold ETFs or mining stocks,” said Bruni.

BofA separately highlighted how this latest gold rally isn’t like the other advances this century, offering a tantalizing glimpse of future bullish potential.

The bank noted this is the third major gold advance in two decades, yet “households have missed this rally.” The first two rallies — from 2004 to 2011, and from 2015 to 2020 — attracted big fund flows into gold ETFs. But over the last year, gold bullion and gold miner ETFs have shed $6.4 billion in assets, according to Bloomberg data and Yahoo Finance calculations.

But if last week’s large gold inflows were to gain momentum, that trend could signal a perfect storm of retail, institutional, and central bank gold buying is brewing. Why?

Bruni said it best: “Gold is kind of one of these things that operates on vibes.”

Original Source: https://finance.yahoo.com/news/why-gold-is-outperforming-nearly-everything-so-far-this-year-100022695.html?.tsrc=fin-notif

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Base Metals Energy Junior Mining Uncategorized

F3 Uranium and F4 Uranium Announce Completion of Arrangement

Kelowna, British Columbia–(Newsfile Corp. – August 16, 2024) – F3 Uranium Corp. (TSXV: FUU) (OTCQB: FUUFF) (“F3“) and F4 Uranium Corp. (“F4“) are pleased to announce that they have completed the previously announced plan of arrangement under the Canada Business Corporations Act (the “Arrangement“), effective as at 12:01 a.m. (Vancouver time) on August 15, 2024 (the “Effective Date“). F3 obtained a final order from the Supreme Court of British Columbia dated August 13, 2024 approving the Arrangement. The Arrangement was previously approved by shareholders of F3 at a special meeting on August 8, 2024.

Pursuant to the Arrangement, the holders of common shares of F3 were entitled to receive at the Effective Date, in exchange for each common share of F3 held at the close of business the day before the Effective Date (i) one new common share of F3; and (ii) one-tenth of a F4 share. All outstanding options, warrants and restricted share units of F3 were adjusted in accordance with the terms of the plan of arrangement as set forth in greater detail in F3’s management information circular dated June 28, 2024.

About F3 Uranium Corp.:

F3 is a uranium exploration company advancing its newly discovered high-grade JR Zone and exploring for additional mineralized zones on its 100%-owned Patterson Lake North (PLN) Project in the southwest Athabasca Basin. PLN is accessed by Provincial Highway 955, which transects the project, and the new JR Zone discovery is located ~25km northwest of Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade uranium deposits. This area is poised to become the next major area of development for new uranium operations in northern Saskatchewan. The PLN project is comprised of the PLN, Minto and Broach properties. The Broach property incorporates the PW property which F3 obtained from CanAlaska as the result of a property swap.

About F4 Uranium Corp.:

F4 is a uranium project generator and exploration company, focusing on projects in the Athabasca Basin, home to some of the world’s largest high grade uranium discoveries. F4 Uranium currently has 17 projects in the Athabasca Basin, several of which are near large uranium discoveries including Triple R, Arrow and Hurricane. F4 has entered into option agreements on several of the properties which call for the incoming parties to make cash payments and issue shares to F4 as well as to incur exploration expenditures on the properties in which they have been granted the option to earn an interest.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements.” These forward-looking statements reflect the expectations or beliefs of management of F3 and F4 based on information currently available to them. Forward-looking statements are subject to a number of risks and uncertainties, including those detailed from time to time in filings made by F3 and F4 with securities regulatory authorities, which may cause actual outcomes to differ materially from those discussed in the forward-looking statements. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements and information contained in this news release are made as of the date hereof and F3 and F4 undertake no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this news release, and does not accept responsibility for the adequacy or accuracy of this news release.

F3 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: ir@f3uranium.com

F4 Uranium Corp.
750-1620 Dickson Avenue
Kelowna, BC V1Y9Y2
Contact Information
Investor Relations
Telephone: 778 484 8030
Email: info@f4uranium.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO
F3 Uranium Corp.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220180View comments

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Base Metals Energy Junior Mining Precious Metals Uncategorized

Grizzly Announces Closing of Initial Tranche of Private Placement

Edmonton, Alberta–(Newsfile Corp. – July 31, 2024) – Grizzly Discoveries Inc. (TSXV: GZD) (FSE: G6H) (OTCQB: GZDIF) (“Grizzly” or the “Company”) announces that it has closed on an initial tranche of the private placement (the “Offering”) of Units and Flow-Through Units originally announced on June 20, 2024 and extended on July 19, 2024.

The Company issued a total of 6,157,668 Units and 700,000 FT Units, each at a price of $0.03, for aggregate gross proceeds of $205,730.

Each Unit consists of one common share of the Company (“Common Share”) and one non-transferrable common share purchase warrant (“Warrant”) entitling the warrant holder to purchase an additional Common Share for $0.05 and expiring on the earlier of a) 30 days following written notice by the Company to the warrant holder that the volume-weighted average trading price of the Common Shares on the TSX Venture Exchange is at or greater than CA$0.10 per Common Share for 10 consecutive trading days; and (b) 24 months from the date of issuance. Each Flow-Through Unit consists of one Common Share and one half of one Warrant, each of which shall be issued as a “flow through share” for the purposes of the Income Tax Act (Canada). The Offering is being offered to qualified subscribers in the Provinces of Alberta, British Columbia and Ontario and in other jurisdictions as the Company may in its discretion determine, in reliance upon exemptions from the registration and prospectus requirements of applicable securities legislation.

The proceeds of $184,730 from the sale of Units in this tranche are intended to be used for general working capital and corporate overhead, including the payment of management fees to officers of the Company, and the proceeds of $21,000 from the sale of FT Units will be reserved for mineral property exploration.

No commissions or finder’s fees were paid with respect to this tranche of the Offering.

The Offering remains open, with 10,509,000 Units and 16,966,668 FT Units remaining under the maximum Offering, until August 18, 2024.

The Offering is subject to final approval from the TSX Venture Exchange.

ABOUT GRIZZLY DISCOVERIES INC.

Grizzly is a diversified Canadian mineral exploration company with its primary listing on the TSX Venture Exchange focused on developing its approximately 72,700 ha (approximately 180,000 acres) of precious and base metals properties in southeastern British Columbia. Grizzly is run by a highly experienced junior resource sector management team, who have a track record of advancing exploration projects from early exploration stage through to feasibility stage.

On behalf of the Board,

GRIZZLY DISCOVERIES INC.
Brian Testo, CEO, President

For further information, please visit our website at www.grizzlydiscoveries.com or contact:

Nancy Massicotte
Corporate Development
Tel: 604-507-3377
Email: nancy@grizzlydiscoveries.com

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

Caution concerning forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as “may,” “will,” “should,” “anticipate,” “plan,” “expect,” “believe,” “estimate,” “intend” and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management of Grizzly in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause Grizzly’s actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and accordingly, undue reliance should not be placed thereon.

Risks and uncertainties that may cause actual results to vary include but are not limited to the availability of financing; fluctuations in commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management’s Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available under the Company’s SEDAR+ profile at www.sedarplus.ca. Grizzly disclaims any obligation to update or revise any forward-looking information or statements except as may be required by law.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/218450View Comments

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Base Metals Energy Junior Mining Uncategorized

Strathmore Triples Length of Mineralized Trend at Agate

Kelowna, British Columbia–(Newsfile Corp. – July 9, 2024) – Strathmore Plus Uranium Corporation (TSX: SUU) (OTCQB: SUUFF) (“Strathmore” or “the Company“) is pleased to announce it has extended the mineralization from the Phase 1 drilling for the 2024 exploration season at the Agate project in Wyoming. The Company completed 100 exploration holes across the project area, resulting in the extension of the Lower sand’s northern trend to 3,700 feet in length.

Highlights for the drilling along this trend included holes:

*AG-175-24 (7.5 feet of 0.128% eU3O8 from 103.5-110.0 feet)
*AG-200-24 (15 feet of 0.116% eU3O8 from 82.5-97.5 feet).
*AG-162-24 (16 feet of 0.067% eU3O8 from 87.5-103.5 feet)

In addition, five piezometer wells were completed for groundwater testing and five holes were prepared for core recovery this summer.

Phase 1 of the 2024 drilling explored the Eocene Wind River Formation, an arkosic-rich sandstone which is noted for its high porosity and permeability, and high groundwater transmissivity. In addition to continued exploration of the Lower sand, the recent drilling discovered shallow mineralization within the overlying Middle sand, which is thicker than the Lower sand, and historically produced most of the uranium in the Shirley Basin district.

Dev Randhawa, CEO commented:

The BOD and I, along with our new Director, Mr. Marion Loomis, and technical advisors Ray Ashley and Sam Hartmann, toured both our Agate and Beaver Rim properties on June 26 & 27th.

We are excited to see the higher-grade intercepts as we move further SW. at Agate. The drill results are validating our prediction of the Wyoming roll front model as applied to our Agate property. With continued exploration by our field team and geophysical modeling by the University of Wyoming personnel, I expect Strathmore to further define the east side of the mineralized tongue at Agate and move towards a draft ISR resource assessment.

Agate Exploration:

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3282/215737_ae406299f46f3955_002full.jpg

Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
AG-101-2442.30469(106.29538)12080.586.05.50.0170.094
AG-102-2442.30502(106.29534)12084.598.013.50.0260.351
AG-103-2442.30474(106.29495)12074.582.58.00.0350.280
AG-104-2442.30447(106.29533)10081.087.06.00.0190.114
AG-105-2442.30500(106.29573)12086.598.512.00.0140.168
AG-106-2442.30472(106.29573)10079.083.04.00.0370.148
86.589.02.50.0460.115
AG-107-2442.30446(106.29579)12080.583.53.00.0340.102
88.592.54.00.0440.176
AG-108-2442.30529(106.29531)12088.090.02.00.0230.046
AG-109-2442.30558(106.29533)12084.587.02.50.0310.078
89.599.510.00.0320.320
AG-110-2442.30531(106.29493)12082.592.510.00.0190.190
AG-111-2442.30477(106.29610)12083.092.09.00.0260.231
AG-112-2442.30505(106.29608)12081.585.03.50.0230.081
AG-113-2442.30505(106.29493)12083.093.010.00.0220.219
AG-114-2442.30528(106.29573)12084.595.511.00.0140.154
AG-115-2442.30566(106.29493)12088.089.51.50.0310.047
AG-116-2442.30561(106.29456)12083.087.54.50.0270.122
AG-117-2442.30590(106.29494)12075.087.512.50.0150.188
AG-118-2442.30589(106.29459)12087.0100.513.50.0240.324
AG-119-2442.30553(106.29558)12087.5105.518.00.0330.594
AG-120-2442.30293(106.29702)140BARREN
AG-121-2442.30318(106.29700)120BARREN
AG-122-2442.30346(106.29699)12089.594.55.00.0220.110
AG-123-2442.30322(106.29739)14090.092.02.00.0240.048
94.0101.07.00.0140.098
AG-124-2442.30349(106.29736)14090.095.05.00.0170.085
AG-125-2442.30373(106.29697)12091.094.03.00.0270.081
AG-126-2442.30319(106.29662)12084.088.54.50.0190.086
AG-127-2442.30374(106.29738)14097.099.02.00.0150.030
AG-128-2442.30320(106.29744)14092.098.06.00.0130.078
AG-129-2442.30370(106.29668)12086.588.52.00.0130.026
AG-130-2442.30402(106.29697)12090.094.54.50.0590.266
AG-131-2442.30360(106.27836)13019.027.08.00.0300.242
31.534.02.50.0220.055
41.043.02.00.0280.056
AG-132-2442.30414(106.27911)10037.542.04.50.0290.131
48.550.52.00.0120.024
63.565.52.00.0120.024
AG-133-2442.30417(106.27866)10037.539.52.00.0130.026
41.563.522.00.0130.288
68.071.03.00.0150.045
AG-134-2442.30387(106.27872)12042.550.58.00.0130.105
56.058.52.50.0130.033
62.564.52.00.0110.022
AG-135-2442.30389(106.27831)12016.032.516.50.0350.578
34.036.52.50.0130.033
44.048.54.50.0250.113
AG-136-2442.30335(106.27836)1009.513.03.50.0130.046
20.024.04.00.0120.048
35.542.57.00.0140.095
45.049.04.00.0140.056
AG-137-2442.30365(106.27874)14017.528.010.50.0320.336
32.536.03.50.0270.095
AG-138-2442.30446(106.27828)12036.540.54.00.0620.248
Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
AG-139-2442.30417(106.27832)12043.549.05.50.0180.099
AG-140-2442.30387(106.27802)12033.536.53.00.0160.048
40.044.04.00.0130.052
AG-141-2442.30445(106.27869)12035.041.56.50.0130.085
67.069.02.00.0120.024
AG-142-2442.30469(106.27872)12034.036.02.00.0350.070
62.565.02.50.0150.038
70.072.02.00.0140.028
AG-143-2442.30500(106.27869)12030.544.514.00.0460.644
51.056.05.00.0100.052
64.571.06.50.0120.076
AG-144-2442.30503(106.27821)12016.023.07.00.0130.094
30.532.52.00.0410.082
36.540.54.00.0380.152
AG-145-2442.30559(106.27820)12018.020.02.00.0120.024
23.028.05.00.0110.055
33.536.02.50.0120.030
44.048.54.50.0140.063
53.057.04.00.0140.056
61.064.53.50.0130.044
71.073.52.50.0120.030
AG-146-2442.30535(106.27869)12020.523.53.00.0130.038
25.548.022.50.0140.304
AG-147-2442.30580(106.27865)12029.044.515.50.0510.791
57.068.011.00.0130.143
AG-148-2442.30610(106.27818)12028.031.53.50.0110.037
35.048.013.00.0130.165
54.056.52.50.0110.027
AG-149-2442.31234(106.29066)140101.0104.53.50.0460.161
110.5116.56.00.0110.068
AG-150-2442.31252(106.29057)140103.5107.54.00.0100.042
AG-151-2442.31322(106.29053)14095.0106.011.00.0790.869
AG-152-2442.31321(106.29016)160101.0105.54.50.0490.221
AG-153-2442.31352(106.29048)140BARREN
AG-154-2442.31353(106.29015)14093.095.52.50.0270.068
AG-155-2442.31353(106.28978)14090.593.02.50.0390.098
94.5100.05.50.0600.330
AG-156-2442.31321(106.28978)16098.5108.09.50.0560.532
AG-157-2442.31293(106.29090)140100.5103.02.50.0370.093
104.5106.52.00.0250.050
AG-158-2442.31321(106.29090)14092.597.04.50.0120.054
AG-159-2442.31321(106.28945)160107.0109.02.00.0280.056
AG-160-2442.31351(106.28942)14095.099.54.50.0440.198
AG-161-2442.31364(106.28944)14091.5102.511.00.0210.231
AG-162-2442.31295(106.29128)14077.579.52.00.0360.072
87.5103.516.00.0671.072
AG-163-2442.31269(106.29129)140107.0108.51.50.0130.020
AG-164-2442.31266(106.29090)14099.5105.05.50.0330.182
AG-165-2442.31266(106.29168)140105.0107.52.50.0130.033
AG-166-2442.31298(106.29164)14083.586.02.50.0370.093
AG-167-2442.31295(106.29201)14080.583.02.50.0290.073
Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
85.587.52.00.0400.080
89.591.52.00.0270.054
AG-168-2442.31251(106.29198)14078.580.52.00.0680.136
91.594.02.50.0110.028
97.5104.06.50.0140.088
AG-169-2442.31230(106.29179)14096.0100.54.50.0140.063
102.0107.05.00.0140.070
AG-170-2442.31241(106.29229)140101.0104.53.50.0130.046
AG-171-2442.31270(106.29229)14090.092.52.50.0150.038
94.5101.06.50.0130.085
105.5107.52.00.0110.021
AG-172-2442.31216(106.29212)14097.0107.010.00.0140.138
AG-173-2442.31213(106.29257)140101.5107.05.50.0680.374
AG-174-2442.31246(106.29262)140BARREN
AG-175-2442.31191(106.29215)140103.5111.07.50.1280.960
AG-176-2442.31196(106.29282)140BELOW CUTOFF
AG-177-2442.31175(106.29253)14059.563.03.50.0120.042
108.5112.03.50.0200.070
AG-178-2442.31162(106.29217)14051.053.02.00.0110.022
69.572.53.00.0130.040
109.5113.54.00.0100.041
AG-179-2442.31186(106.29178)140109.0112.03.00.0450.135
AG-180-2442.31231(106.29144)14085.091.56.50.1220.793
95.099.04.00.0380.152
AG-181-2442.31135(106.29262)14080.586.05.50.0230.127
101.5113.011.50.0150.172
AG-182-2442.31129(106.29219)140100.0112.012.00.0140.168
AG-183-2442.31209(106.29182)140100.0102.52.50.0370.093
105.0108.53.50.0140.050
112.0114.02.00.0120.024
AG-184-2442.31204(106.29146)14096.099.53.50.0550.193
100.0110.510.50.0140.147
AG-185-2442.31220(106.29104)14084.586.52.00.0120.024
93.596.02.50.0150.038
98.0103.05.00.0180.090
105.0107.02.00.0100.020
AG-186-2442.31108(106.29362)140112.0121.09.00.0620.558
AG-187-2442.31076(106.29367)140115.0117.02.00.0330.066
117.0129.012.00.0120.141
AG-188-2442.31065(106.29429)140110.5129.018.50.0120.221
AG-189-2442.31040(106.29429)140109.0111.52.50.0230.058
116.5121.55.00.0120.062
AG-190-2442.31080(106.29329)140108.5113.55.00.0930.465
AG-191-2442.31046(106.29470)160124.5132.07.50.0150.113
AG-192-2442.31022(106.29472)140111.0116.05.00.0120.062
117.5127.09.50.0170.162
AG-193-2442.31029(106.29502)14096.0101.05.00.0120.058
113.5122.59.00.0140.122
124.0130.06.00.0160.096
AG-194-2442.31015(106.29529)140112.5120.58.00.0160.128
AG-195-2442.31095(106.29429)160130.0133.53.50.0160.056
Hole IDLatitudeLongitudeDepth (ft)Top (ft)Bottom (ft)Thickness (ft)Grade % eU3O8Grade x Thickness
AG-196-2442.31353(106.28906)14096.0100.04.00.0290.116
AG-197-2442.31352(106.28869)14097.0103.06.00.0130.078
AG-198-2442.31373(106.28866)14097.0105.08.00.0330.266
AG-199-24-MW42.31395(106.28670)125NOT LOGGED
AG-200-24-MW42.31502(106.28512)13082.597.515.00.1161.740

Note: The geophysical results are based on equivalent uranium (eU3O8) of the gamma-ray probes calibrated at the Department of Energy’s Test Facility in Casper, Wyoming. A series E Century Geophysical logging tool with gamma-ray, spontaneous potential, resistivity, and drift detectors was utilized. The reader is cautioned that the reported uranium grades may not reflect actual concentrations due to the potential for disequilibrium between uranium and its gamma emitting daughter products.

  • Mineralized holes with thicker, higher-grade intercepts are interpreted to be in the Near Interface, Nose (main front), or Near Seepage ground located within the projected roll front system.
  • Mineralized holes with thinner, below cutoff grade intercepts are interpreted to be in the Limb/Tails or Remote Seepage ground located behind (altered) or ahead (reduced) of the projected roll front system, respectively.
  • Non-mineralized holes are interpreted to be in the Barren Exterior ground located ahead of the projected roll front system in reduced ground.
  • The drill results were determined using thickness and grade % cutoffs of 2-feet and 0.01% eU3O8.

The 2024 drilling was completed by Single Water Services utilizing a mud-rotary rig and the geophysical logging was completed by Hawkins CBM Logging, both of Wyoming with extensive experience in the uranium industry. Mr. Terrence Osier, PG, VP Exploration for Strathmore, was the supervising Geologist and oversaw the drilling activities and lithologic descriptions of the drilled cuttings which were sampled at 5-foot intervals. The drilling was completed on budget (US$275,000) and in a timely manner over a month’s time. The results of the exploration will be analyzed and assist in the layout of additional drill sites proposed for the Phase 2 drilling in autumn 2024.

New Claims Staked

In addition to exploration, the Company has expanded the project area by staking 18 new mining claims continuous to the current claim group, bringing the project total to 85 mining claims. The new claims cover ground where mineralization is anticipated to be on trend with recent and historical drilling. Strathmore plans to amend the drill permit following the Phase 1 drilling to include the new mining claims and anticipates exploration of the acquired ground in Phase 2 drilling later this year.

About the Agate Property

The Agate property consists of 85 wholly owned lode mining claims covering 1,756 acres. The uranium mineralization is contained in classic Wyoming-type roll fronts within the Eocene Wind River Formation, an arkosic-rich sandstone. Historically, 53 million pounds of uranium were mined in Shirley Basin, including from open-pit, underground, and the first commercial in-situ recovery operation in the USA during the 1960s. At the property, the uranium mineralization is shallow, from 20 to approximately 150 feet deep, much of which appears below the water table and likely amenable to in-situ recovery. Kerr McGee Corporation, the largest US uranium mining company at the time, drilled at least 650 holes across the project area in the 1970s, delineating several targets of potential mineralization.

About Strathmore Plus Uranium Corp. Strathmore is focused on discovering uranium deposits in Wyoming, and has three permitted uranium projects including Agate, Beaver Rim, and Night Owl. The Agate and Beaver Rim properties contain uranium in typical Wyoming-type roll front deposits based on historical drilling data. The Night Owl property is a former producing surface mine that was in production in the early 1960s.

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

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 Strathmore Plus Uranium 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 Strathmore Plus Uranium 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.

Qualified Person

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 Terrence Osier, P.Geo., Vice President, Exploration of Strathmore Plus Uranium Corp., a Qualified Person.

Strathmore Plus Uranium Corp.

Contact Information:
Investor Relations
Telephone: 1 888 882 8177
Email: info@strathmoreplus.com

ON BEHALF OF THE BOARD
“Dev Randhawa”
Dev Randhawa, CEO

Neither 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/215737

Categories
Breaking Junior Mining Precious Metals Uncategorized

The World is sitting on a $91 trillion problem. ‘Hard Choices’ are coming

LondonCNN — 

Governments owe an unprecedented $91 trillion, an amount almost equal to the size of the global economy and one that will ultimately exact a heavy toll on their populations.

Debt burdens have grown so large — in part because of the cost of the pandemic — that they now pose a growing threat to living standards even in rich economies, including the United States.

Yet, in a year of elections around the world, politicians are largely ignoring the problem, unwilling to level with voters about the tax increases and spending cuts needed to tackle the deluge of borrowing. In some cases, they’re even making profligate promises that could at the very least jack up inflation again and could even trigger a new financial crisis.

The International Monetary Fund last week reiterated its warning that “chronic fiscal deficits” in the US must be “urgently addressed.” Investors have long shared that disquiet about the long-term trajectory of the US government’s finances.

“(But) continuing deficits and a rising debt burden have (now) made that more of a medium-term concern,” Roger Hallam, global head of rates at Vanguard, one of the world’s largest asset managers, told CNN.

As debt burdens mount around the world, investors are growing anxious. In France, political turmoil has exacerbated concerns about the country’s debt, sending bond yields, or returns demanded by investors, soaring.

The first round of snap elections Sunday suggested that some of the market’s worst fears might not come to pass. But even without the specter of an immediate financial crisis, investors are demanding higher yields to buy the debt of many governments as shortfalls between spending and taxes balloon.

Mandatory Credit: Photo by JIM LO SCALZO/EPA-EFE/Shutterstock (11728221g) The Federal Reserve building in Washington, DC, USA, 27 January 2021. The Federal Reserve meets on 27 January, and is expected to leave interest rates near zero. Federal Reserve meets in Washington, DC, USA - 27 Jan 2021

RELATED ARTICLEMarkets are adjusting to stubborn inflation. Election noise could spoil the calm

Higher debt servicing costs mean less money available for crucial public services or for responding to crises such as financial meltdowns, pandemics or wars.

Since government bond yields are used to price other debt, such as mortgages, rising yields also mean higher borrowing costs for households and businesses, which hurt economic growth.

As interest rates rise, private investment falls and governments are less able to borrow to respond to economic downturns.

Tackling America’s debt problem will require either tax hikes or cuts to benefits, such as social security and health insurance programs, said Karen Dynan, former chief economist at the US Treasury and now professor at the Harvard Kennedy School. “Many (politicians) are not willing to talk about the hard choices that are going to need to be made. These are very serious decisions… and they could be very consequential for people’s lives.”

Kenneth Rogoff, an economics professor at Harvard University, agrees that the US and other countries will have to make painful adjustments.

Debt is “not free anymore,” he told CNN.

“In the 2010s, a lot of academics, policymakers and central bankers came to the view that interest rates were just going to be near zero forever and then they started thinking debt was a free lunch,” he said.

“That was always wrong-headed because you can think of government debt as holding a flexible-rate mortgage and, if the interest rates go up sharply, your interest payments go up a lot. And that’s exactly what’s happened all over the world.”

‘Conspiracy of silence’

In the United States, the federal government will spend $892 billion in the current fiscal year on interest payments — more than it has earmarked for defense and approaching the budget for Medicare, health insurance for older people and those with disabilities.

Next year, interest payments will top $1 trillion on national debt of more than $30 trillion, itself a sum roughly equal to the size of the US economy, according to the Congressional Budget Office, Congress’s fiscal watchdog.

The CBO sees US debt reaching 122% of GDP a mere 10 years from now. And in 2054, debt is forecast to hit 166% of GDP, slowing economic growth.

So how much debt is too much? Economists don’t think there is a “predetermined level at which bad things happen in markets,” but most reckon that if debt hits 150% or 180% of gross domestic product, that means “very serious costs for the economy and society more broadly,” said Dynan.

A statue of Alexander Hamilton is seen outside the U.S. Department of Treasury building as they joined other government financial institutions to bail out Silicon Valley Bank's account holders after it collapsed on March 13, 2023 in Washington, DC. U.S.

Despite growing alarm over the federal government’s debt pile, neither Joe Biden nor Donald Trump, the main 2024 presidential candidates, are promising fiscal discipline ahead of the election.

During the first televised presidential debate last week, hosted by CNN, each candidate accused the other of making America’s debt situation worse, either through tax cuts by Trump or additional spending by Biden.

British politicians have also buried their heads in the sand ahead of a general election Thursday. The Institute for Fiscal Studies, an influential think tank, has decried a “conspiracy of silence” between the country’s two main political parties, over the poor state of public finances.

“Regardless of who takes office following the general election, they will — unless they get lucky — soon face a stark choice,” IFS director Paul Johnson said last week. “Raise taxes by more than they have told us in their manifestos, or implement cuts to some areas of spending, or borrow more and be content for debt to rise for longer.”

Countries trying to tackle the debt issue are struggling. In Germany, ongoing infighting over debt limits has put the country’s three-way governing coalition under enormous strain. The political standoff could come to a head this month.

In Kenya, blowback over attempts to address the country’s $80 billion debt burden has been much worse. Proposed tax hikes have sparked nationwide protests, which have claimed 39 lives, prompting President William Ruto to announce last week that he would not sign the proposals into law.

Enter the scary bond market

But the problem with putting off efforts to rein in debt is that it leaves governments vulnerable to far more painful disciplining by financial markets. The United Kingdom offers the most recent example in a major economy. Former Prime Minister Liz Truss triggered a collapse in the pound in 2022 when she tried to force through big tax cuts funded by increased borrowing.

This aerial view shows the La Defense business district and the Aillaud Towers of the Pablo Picasso area of Nanterre, north-west of Paris on July 11, 2023.

And the threat hasn’t gone away. Take France. The risk of a financial crisis there became a serious concern virtually overnight after President Emmanuel Macron called a snap election last month.

Investors were worried voters would elect a parliament of populists bent on spending more and cutting taxes, further swelling the country’s already-high debt and budget deficit.

Even though this worst-case scenario now looks less likely, what happens after next Sunday’s second round of voting is far from certain. Yields on French government bonds have continued creeping up, reaching their highest level in eight months Tuesday.

Dynan at the Harvard Kennedy School says financial markets can quickly become unnerved by “political dysfunction” that causes investors to doubt a government’s willingness to make good on its debt.

“We tend to have a lack of imagination about the scope for things going wrong. If there’s a big event in which the market freaks out about (US) debt, it’s not going to be something that was on our radar,” she said.

source: https://www.cnn.com/2024/07/02/economy/global-debt-crisis/index.html

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Categories
Energy Junior Mining Precious Metals Uncategorized

Gold’s record-setting rally may have its roots in Chinese frenzy

Bloomberg News | April 23, 2024 | 5:11 pm Intelligence Markets China Gold 

Gold’s record-setting rally this year has puzzled market watchers as bullion has roared higher despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

After weeks of debate about whether a mystery buyer was stoking the rally, several prominent figures in the global gold market are coming to the conclusion that the major new driving force is a legion of fleet-footed retail investors on the Shanghai Futures Exchange.

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In a matter of weeks, the SHFE has gone from a sedate futures venue to a nexus of the global gold market. While rival centers such as London and New York have also seen activity rise, the fact that SHFE volumes have spiked from a low base offers a compelling sign that a newly arrived cohort of Chinese investors has helped drive prices sharply higher.

Gold has soared this year, topping $2,000 an ounce from early March in the face of major pressures that, in ordinary times, would have capped gains. Driven by fading expectations for a pivot to lower interest rates from the Federal Reserve, these included higher Treasury yields and a rallying US dollar. On top of that, there was a virtual buyers’ strike in India, the second-largest consumer, disinterest from western funds, and net sales by exchange-traded funds. Yet SHFE volumes started to spike, and prices powered higher.

“The only thing that drives it in a Bitcoin-esque kind of way is massive speculative plays,” according to Ross Norman, a former trader at Credit Suisse Group AG and Rothschilds & Sons., who now helms the Metals Daily journal.

Given elevated rates and the dollar’s strength, that’s unlikely to have come from hot-money in the US, so the most likely buyers would be highly leveraged Chinese investors, he said.

Gold has a longstanding history in China as a savings tool, and the country is the top consumer and leading producer. That traditional interest has been given a new lease of life by turmoil in the local property and stock markets, with imports surging in 2022 and 2023 despite being tightly controlled.

Buying spree

For months, consumers and institutional investors in China have been snapping up physical bullion, while the People’s Bank of China has been on a 17-month buying spree. Those two forces, which helped buoy international prices, have now been augmented by surging speculative demand.

Numbers back up the theory. Trading on the SHFE has exploded, with average daily volume almost tripling in April compared with the preceding 12 months. It peaked at about 1,200 tons on April 15, the highest since 2019, before prices started to sag this week.

https://www.mining.com/web/china-is-front-and-center-of-golds-record-breaking-rally/embed/#?secret=Jbq5B8gBXH#?secret=BWK5nFgia4

“It’s another sign of emerging markets, and particularly Chinese traders, wresting price discovery away from Western markets,” said John Reade, chief market strategist at the World Gold Council. “We know from other commodity markets, that from time-to-time, Shanghai traders become the most dominant players. That’s never really been the case in gold, but I think now that this might have changed.”

For long-haul gold bulls, that could be a worry if gains prove brittle. State media recently urged caution in chasing the rally, while the SHFE raised margin requirements to snuff out excessive risk-taking.

It’s notable that while SHFE volumes have soared, the number of outstanding contracts has hardly moved. That indicates participants day-trading, not taking a long-term view. Bullion fell 2.7% on Monday and losses deepened Tuesday, in a move that Reade attributed to profit-taking by short-term investors on the exchange.

‘Extreme example’

“It’s a bit of a feature of onshore Chinese markets, albeit a relatively extreme example,” said Marcus Garvey, head of commodity strategy at Macquarie Group Ltd. There’s “much more short-term speculative turnover,” he said.

Not everyone thinks Chinese investors are the major driver behind gold’s ascent. “It’s not just mom-and-pop traders and it’s not just China,” said Jeff Christian, managing director at CPM Group. “It’s really a broad-based thing. There isn’t all that much difference now in the trading behavior of large institutions compared to mom-and-pop people.”

Gold may be in favor as higher-for-longer US interest rates to tame inflation may tip the economy into recession, according to Christian. “They’re all becoming convinced that interest rates aren’t going to fall too soon,” he said. “That could be negative for other assets more than it would be for gold.”

Samson Li, a Hong Kong-based analyst at Commodity Discovery Fund, sees a more nuanced picture. Rather than being a direct driver of prices, the frenzied demand in China has encouraged western speculators to ramp up bets on gains in New York, he said.

The debate about how long Chinese investors will stick around is tied to the question of what brought them to SHFE in the first place. Institutional and retail traders on SHFE may be buying gold to bet on short-term fluctuations in the yuan. This year, the exchange’s night session has been the most active, just when a raft of hot US economic data has driven the dollar higher.

Daniel Ghali, a senior commodity strategist at TD Securities, has also been on the hunt to identify gold’s mystery buyer, and he still thinks that the dominant force is likely to be a deep-pocketed buyer in the so-called official sector, which covers state-linked institutions such as central banks and sovereign wealth funds. But he says buying activity there has also been closely correlated with weakness in the yuan, and investors on SHFE may be acting with the same underlying motivations.

“The trading activity on the SHFE, it does point to retail speculation and that could be associated with the currency pressures,” said Ghali. “It’s not just an issue for the central banks out there – it’s an issue for everyday participants who see that their currency is depreciating and want to hedge against it.”

(By Mark Burton, Sybilla Gross and Yvonne Yue Li)

Original Source: https://www.mining.com/web/golds-record-setting-rally-may-have-its-roots-in-chinese-frenzy/

Categories
Base Metals Dolly Varden Silver Energy Junior Mining Precious Metals Uncategorized

Dolly Varden Silver Outlines 2024 Resource Expansion and Discovery-Focused Exploration Drill Program

Vancouver, British Columbia–(Newsfile Corp. – April 23, 2024) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce plans for the 2024 exploration drilling program at its 100% owned Kitsault Valley Project. An initial 25,000 meters of diamond drilling is planned, starting with three drills. The focus will be on following up on new discoveries as well as stepping out from wide, higher-grade intercepts from the 2023 drilling, particularly at the Homestake Silver and Wolf deposits. Mobilization will be in the first week of May, allowing for an earlier start on exploration than previous years due to a low snowpacks.

The drill program will be split approximately 50/50 between the Dolly Varden Property and the Homestake Ridge Property, with an overall project split of 1/3 to Homestake Silver deposit area, 1/3 to Wolf deposit area and 1/3 to project wide exploration targets with new discovery potential.

“Our drill results from Homestake Silver were among the highest-grade gold and silver intercepts anywhere in the Golden Triangle in 2023; our priority with this early start is to continue with step-outs as well as infill drilling to confirm continuity of the potentially bulk-mineable mineralization. Further south, silver mineralization at Wolf remains wide open for expansion and this seasons’ introduction of directional drilling technology will allow for highly accurate placement of drill intercepts,” said Shawn Khunkhun, CEO of Dolly Varden Silver.


Figure 1. Targets for the 2024 Exploration program along Dolly Varden’s Kitsault Valley Trend

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_002full.jpg

Wolf Vein

At the Wolf Vein, drilling is planned to delineate the width and extent of the southerly plunge of wider and higher-grade silver mineralization. Step out holes that define the trace of the plunge are spaced so that any new mineralization can be included in a future resource update. The Company will implement directional drilling technology with the objective of more cost effective and accurate exploration at Wolf, particularly for deep holes.

Wolf Vein remains open to depth where results from 2023 drilling indicate an increase in base metal (lead and zinc) content as well as wider epithermal breccia vein silver mineralization, such as previous released step-out drill hole DV23-375, that intersected 296 g/t silver, 1.68% Pb and 3.01%Zn (461 g/t AgEq*) over 26.99 meters, including 1,475g/t Ag, 10.65% Pb and 12% Zn (2,260 g/t AgEq*) over 0.50 meter from an 81-metre step-out (from previous release: November 6, 2023).

Figure 2. Previously released result highlights (2022 and 2023) on Wolf Vein long section looking northwest showing open zones for follow up and trace of wider, higher-grade plunge as black line.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_003full.jpg

*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn. Assays are not capped and 100% recovery used for Ag and Au and base metals.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated.

Homestake Silver

The program planned for Homestake Silver will start with follow up drilling on the newly discovered gold zone at the northern extent of deposit, where coarse-grained native gold in late-stage quartz-carbonate veins (Figure 3.) returned grades of 1,335 g/t Au and 781 g/t Ag over 0.68 meters within a wider interval of stockwork grading 79.49 g/t Au and 60 g/t Ag over 12.45 meters in drill hole HR23-389 (from previous release: February 12, 2024). Data from oriented core drilling indicates these quartz-carbonate veins are geologically younger and crosscut the Homestake trend at a low angle.

Figure 3. Visible Gold in quartz carbonate vein from drillhole HR23-389 at 410.00m depth.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_004full.jpg

The second part of Homestake Silver drilling will be resource expansion and upgrade holes that target the low angle, north dipping plunge of wide and high-grade gold and silver mineralization encountered in 2023 (Figure 4.). The mineralized plunge orientation at Homestake Silver was initially recognized in 2023 with results such as previously reported drill hole HR23-416, that intercepted the newly defined mineralized envelope returned a 93.95 meter wide zone grading 1.74 g/t Au and 213 g/t Ag (357 g/t AgEq) which included several distinct breccia vein intervals grading 11.80 g/t Au and 1,824 g/t Ag (2,802 g/t AgEq) over 9.16 meters length, 13.16 g/t Au and 3,085 g/t Ag (4,176 g/t AgEq) over 2.26 meters and 55.40 g/t Au and 4,830 g/t Ag (9,422 g/t AgEq) over 1.02 meters (previous release: January 16, 2024).

Figure 4. Homestake Ridge Long section looking southwest showing previous results of wide, highr grade plunge and new gold zone at Homestake Silver with 2024 target areas.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1728/206500_0f180e52946a1ace_005full.jpg

*AuEq and AgEq are calculated using two precious metal components at $US1650/oz Au, $US20/oz Ag, Assays are not capped and 100% recovery used for Ag and Au.
**Estimated true widths vary depending on intersection angles and range from 50% to 85% of core lengths, further modelling of the new interpretation is needed before true widths can be calculated

Exploration Targets including Moose Vein

The Moose Vein is located 1.5 km up north of the Wolf Vein and is interpreted to be hosted within a similar cross cutting structure as Wolf. In 2023, drill hole DV23-371 from the Moose vein intercepted veining and mineralization similar to that seen at Wolf that graded 712 g/t Ag over 1.00 meter within a 7.55-metre-length interval averaging 269 g/t Ag (from previous release: November 6, 2024). This mineralization will be followed up by targeting down the same plunge trend as defined at Wolf.

Other Exploration targets on both the Homestake Ridge and Dolly Varden properties include targets within the 5.4 km long area between the southern end of Homestake Silver and Wolf Vein, under the mid-valley sedimentary cap rocks. Additionally, geophysical targets west of the Homestake Main deposit will be tested, within a parallel basin bounding structures similar to those hosting the Homestake Main and Homestake Silver deposits.

Other studies on road access, advanced metallurgy, wildlife, and baseline environmental monitoring as well as field mapping in underexplored areas of the property will be completed.

Quality Assurance and Quality Control

The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.

Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.

Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed to 70% minus 2mm (10 mesh), of which a 500 gram split is pulverized to minus 200 mesh. Multi-element analyses were determined by Inductively Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is also determined by fire assay on a 30g split with either atomic absorption, or gravimetric finish, depending on grade range. Metallic screen on a 1.0kg sample may be completed on high-grade gold samples.

Qualified Person

Rob van Egmond, P.Geo., Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.

About Dolly Varden Silver Corporation

Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).

Forward Looking Statements

This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.

These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.

For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.

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

For further information: Shawn Khunkhun, CEO & Director, 1-604-609-5137, www.dollyvardensilver.com;

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/206500

Categories
Base Metals Emx Royalty Energy Junior Mining Precious Metals Uncategorized

EMX Royalty Enters into Automatic Share Purchase Plan

Vancouver, British Columbia–(Newsfile Corp. – April 15, 2024) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX“) is pleased to announce that it has entered into an automatic share purchase plan (“ASPP“) with its broker in order to facilitate repurchases of EMX’s common shares (the “Shares“) under the Company’s previously announced normal course issuer bid (the “NCIB“).

The Company previously announced that it had received approval from the TSX Venture Exchange (“TSXV“) to purchase up to 5,000,000 Shares for cancellation over a twelve-month period that commenced on February 13, 2024 and terminates no later than February 12, 2025. All purchases made pursuant to the NCIB will be made through the facilities of the TSXV, NYSE American Stock Exchange (“NYSE American“), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable securities laws. The price that EMX will pay for Shares in open market transactions will be the market price at the time of purchase. Any Shares that are purchased under the NCIB will be cancelled. Since the commencement of the NCIB on February 13, 2024, the Company has purchased 17,700 Shares on the TSXV and alternative Canadian trading systems at a weighted average price per Share of $2.62 for an aggregate value of approximately $46,000, and 58,302 Shares on the NYSE American and alternative U.S. trading systems at a weighted average price per Share of US$1.93 for an aggregate value of approximately US$112,000.

EMX believes that from time to time, the market price of its Shares may not reflect their underlying value and that the purchase of its Shares will enhance shareholder value and increase liquidity of the Shares. The Company intends to fund the purchases out of available cash. The ASPP will facilitate purchases under the NCIB as it will allow for purchases of Shares to be made at times when the Company would ordinarily not be permitted to make purchases, whether due to regulatory restriction or customary self-imposed blackout periods.

Under the ASPP, the Company’s broker may purchase Shares from the effective date of the ASPP until the end of the NCIB. The ASPP will facilitate purchases of Shares under the NCIB by authorizing the Company’s broker to make purchases at its sole discretion based on parameters set by the Company in accordance with the rules of the TSXV and NYSE American, applicable law and the terms of the ASPP. Outside of periods that the Company is restricted from purchasing Shares pursuant to insider trading rules or its own internal trading blackout policies, Shares may also be purchased at the Company’s discretion, in compliance with the rules of the TSXV and NYSE American and applicable law.

All purchases of Shares made under the ASPP will be included in determining the number of Shares purchased under the NCIB. Any Shares purchased by the Company pursuant to the ASPP will be cancelled. The Company is not currently in possession of any material undisclosed information in relation to the Company, the Shares or any of the Company’s other securities. The ASPP constitutes a “written automatic purchase plan” for purposes of applicable Canadian securities legislation and the ASPP has been pre-cleared by the TSXV and will be effective on April 12, 2024.

The ASPP will terminate on the earliest of the date on which: (a) the maximum purchase limit under the NCIB has been reached; (b) the NCIB expires; or (c) the ASPP otherwise terminates in accordance with its terms.

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 risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”. Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

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

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

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility of 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 EMX’s normal course issuer bid, the Company’s pre-defined plan with its broker to allow for the repurchase of Shares and the timing, number and price of Shares that may be purchased under the normal course issuer bid, 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 the market price of the Shares being too high to ensure that purchases benefit the Company and its shareholders, 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, 2023 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/205388

Categories
Base Metals Diamcor Mining Energy Precious Metals Uncategorized

Diamcor Presenting at the LD Micro Invitational XIV

Kelowna, British Columbia–(Newsfile Corp. – April 5, 2024) – Diamcor Mining Inc. (TSXV: DMI) (OTCQB: DMIFF) (FSE: DC3A), (“Diamcor” or the “Company”), an established diamond mining company focused on building a supply of ethically sourced, non-conflict, natural rough diamonds to select diamantaires and luxury retailers, announces today it will be presenting at the 14th Annual LD Micro Invitational at the Sofitel Hotel, New York City on Tuesday, April 9th, at 5;30 PM ET and will be available for private 1 vs 1 meetings.

Diamcor’s CEO, Mr. Dean Taylor will be providing an overview of the significant changes in the diamond industry in 2024, an update on the Company’s Krone-Endora at Venetia Project, and the Company’s strategy for growth moving forward. “The new sanctions imposed on over 30% of the world’s rough diamond supply in 2024 will have a major impact on the supply of high-end natural diamonds, and companies with the ability to adapt to these changes will be very well positioned for the long-term,” noted Diamcor’s CEO, Mr. Dean Taylor, “The future direction of the diamond industry and growing complexities of securing supplies of non-conflict natural rough diamonds for many of the Luxury Retailers allows us to now expand on our existing key relationships and position ourselves as an important source of rough diamonds to select, reputable diamantaires and luxury retailers for the long-term,” added Mr. Taylor.

Event: LD Micro Invitational XIV, Sofitel Hotel, New York

Date: Tuesday, April 9th Time: 5:30 PM ET

We invite interested parties to register to watch the presentation virtually here

About Diamcor Mining Inc.

Diamcor Mining Inc. is a fully reporting publicly traded diamond mining company with a proven history, which is focused on building a growing supply of ethically sourced, non-conflict, natural rough diamonds to some of the world’s most reputable diamantaire’s and luxury retailers. The Company has a long-term strategic alliance with world famous Tiffany & Co, and currently, its primary focus is on the development of its Krone-Endora at Venetia Project which is co-located and directly related to De Beers’ flagship Venetia Diamond Mine in South Africa. The Venetia diamond mine is long recognized as one of the world’s top diamond-producing mines, and the deposits which occur on Company’s Krone-Endora Project have been identified as being the result of shift and subsequent erosion of an estimated 50M tonnes of material from the higher grounds of Venetia to the lower surrounding areas in the direction of Krone and Endora. The Company is also focused on the acquisition and development of additional mid-tier projects with near-term production capabilities to allow the Company to position itself as a growing supplier of ethically and responsibly mined non-conflict natural rough diamonds to reputable diamantaires and select luxury retailers. The Company has a strong commitment to junior mining, social responsibility, women in mining, supporting local communities, and to protecting the environment.

About the Tiffany & Co. Alliance

The Company has an established long-term strategic alliance with Tiffany & Co. Canada, a subsidiary of world-famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at market prices. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing in an effort to advance the Project as quickly as possible. Tiffany & Co. is now owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.

About LD Micro

LD Micro, a wholly owned subsidiary of Freedom US Markets, was founded in 2006 with the sole purpose of being an independent resource in the micro-cap space. Whether it is the Index, comprehensive data, or hosting the most significant events annually, LD’s sole mission is to serve as an invaluable asset for all those interested in finding the next generation of great companies.

For more information on LD Micro, visit www.ldmicro.com.

Please reach out to the company representative below or Dean Summers (dean@ldmicro.com) to register for the event and schedule a meeting with the company.

To learn more about Freedom US Markets, visit www.freedomusmkts.com

On behalf of the Board of Directors:

Mr. Dean H. Taylor
Diamcor Mining Inc
DeanT@Diamcor.com
+1 250 862-3212

For Investor Relations contact:
Mr. Rich Matthews
Integrous Communications
rmatthews@integcom.us
+1 (604) 355-7179

This press release contains certain forward-looking statements. While these forward-looking statements represent our best current judgement, they are subject to a variety of risks and uncertainties that are beyond the Company’s ability to control or predict and which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Further, the Company expressly disclaims any obligation to update any forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements.

WE SEEK SAFE HARBOUR

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204488