VANCOUVER, BC / ACCESSWIRE / August 3, 2022 / Granite Creek Copper Ltd. (TSX.V:GCX | OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce the appointment of Mr. Geordan Clark as an Independent Director.
Granite Creek Copper Ltd., Wednesday, August 3, 2022, Press release picture
Geordan Clark is a Yukon-based entrepreneur with extensive project management and business development experience including an MBA from Cape Breton University. A citizen of the Kluane First Nation from Burwash Landing, Geordan worked as a business consultant with the Kluane First Nation, Tr’ondëk Hwëch’in, Na-Cho Nyäk Dun Development Corporation, Carcross Tagish First Nation, Chu Níikwän LP (Kwanlin Dun), Champagne Aishihik Community Development Corporation, as well as providing consulting services to many other Yukon First Nations small business owners. Mr. Clark was formerly the Executive Director of the Kluane Development Corporation and is currently General Manager and co-owner of Vision Quest Explorations, a Yukon First Nation drilling and exploration company. With a passion for Community Economic Development, Geordan is dedicated to supporting the progression of Yukon First Nation’s business and advancement of the Yukon’s economy.
Geordan Clark, Director, stated, “I am very pleased to be joining Granite Creek Copper and look forward to working with the team to further advance the project including developing and strengthening relationships within the local communities and First Nations in Yukon.”
Tim Johnson, President & CEO, stated, “Geordan is a well-known and respected Yukon businessman and leader. It is an absolute pleasure to have him join our team and we very much look forward to his involvement and guidance as we continue to advance the Carmacks Copper project. Our goal is to continue to develop and build on our relationships with First Nations, including Little Salmon/Carmacks First Nation on whose Traditional Territory the project is located, and to have a positive impact within local communities, as well as the Yukon at large. We look forward to providing additional updates on both the project and other initiatives in the coming weeks, including the updated Preliminary Economic Assessment (“PEA”) which remains on track for completion in Q4.”
Granite Creek further announces it has granted 360,000 incentive stock options (the “Options”) to certain Directors, Officers, employees and consultants of the Company. Each Option will allow the holder to purchase one common share of the Company at a price of $0.10 per share and is exercisable for up to five years, expiring on August 3, 2027.
About Granite Creek Copper
Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176-square-kilometer Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project is on trend with the high-grade Minto copper-gold mine, operated by Minto Metals Corp., to the north, and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. The project is located within the Traditional Territory of Little Salmon/Carmacks First Nation. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.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.
Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a Canadian mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district of Montana, USA.
VANCOUVER, British Columbia, Aug. 01, 2022 (GLOBE NEWSWIRE) — Millrock Resources Inc. (TSX-V: MRO, OTCQB: MLRKF) (“Millrock” or the “Company”) reports that Felix Gold (ASX: FXG, “Felix Gold” or “Felix”) has disclosed results from the first nine holes they have drilled on the Treasure Creek gold project this year. Treasure Creek lies just north of the City of Fairbanks, Alaska. Since commencement of drilling in May 2022, Felix has already drilled more than 100 reverse circulation drill holes and drilling continues more. Assay results are being released in batches as they become available from the laboratory.
A highlight intersection of 89.9 meters grading 1.20 grams per tonne gold starting from 32.0 meters downhole has been reported by Felix Gold from Hole 22TCRC008. All nine holes reported so far are from the NW Array prospect, and intersected gold mineralization. The full results published by Felix Gold can be seen in their two most recent press releases available on their website. Note that Millrock has not independently verified the results reported by Felix Gold.
Millrock President & CEO Gregory Beischer commented: “This is a great start to the drilling program that Felix Gold has undertaken. Millrock owns 9,957,157 shares of Felix Gold or about 5.8% of the company. Additionally, Millrock is to be granted a net smelter return royalty on the project that ranges from 1.0% to 2.0%. We hope that these first drill intersections are indications of a new gold deposit discovery that significantly increases Millrock’s share price and market capitalization. More and more discoveries of gold are being made in Fairbanks and the district should soon be recognized as a globally-significant gold mining camp.”
The Treasure Creek gold project is situated 20 kilometers north and west of Kinross’ Fort Knox gold mine, and 10 kilometers west of Freegold Ventures Ltd new discovery at Golden Summit. Alluvial gold deposits in gravels of Treasure Creek point to a bedrock source on the Felix Gold claims where large, strong soil geochemical anomalies are known from historical work and a major soil sampling program done in 2021.
Qualified Person The scientific and technical information disclosed within this document has been prepared, reviewed, and approved by Gregory A. Beischer, President, CEO, and a director of Millrock Resources. Mr. Beischer is a qualified person as defined in NI 43-101.
About Millrock Resources Inc. Millrock Resources Inc. is a premier project generator to the mining industry. Millrock identifies, packages, and operates large-scale projects for joint venture, thereby exposing its shareholders to the benefits of mineral discovery without the usual financial risk taken on by most exploration companies. The company is recognized as the premier generative explorer in Alaska, holds royalty interests in British Columbia, Canada, and Sonora State, Mexico, is a significant shareholder of junior explorer ArcWest Exploration Inc., and owns a large shareholding in each of Resolution Minerals Limited and Felix Gold Limited. Funding for drilling at Millrock’s exploration projects is primarily provided by its joint venture partners. Business partners of Millrock have included some of the leading names in the mining industry: EMX Royalty, Coeur Explorations, Centerra Gold, First Quantum, Teck, Kinross, Vale, Inmet, and Altius, as well as junior explorers Resolution, Riverside, PolarX, Felix Gold and Tocvan.
ON BEHALF OF THE BOARD “Gregory Beischer” Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT: Melanee Henderson, Investor Relations Toll-Free: 877-217-8978 | Local: 604-638-3164 Twitter | Facebook | LinkedIn
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation) including without limitation the intention to perform further exploration including drilling on the Treasure Creek project. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements.
KELOWNA, BC / ACCESSWIRE / July 29, 2022 / Diamcor Mining Inc. (TSXV.DMI / OTCQB-DMIFF / FRA-DC3A), (the “Company“) announces that due to ongoing delays in South Africa noted below, the Company will be unable to file its audited financial statements and corresponding management’s discussion and analysis for the year ended March 31, 2022 (collectively, the “Financial Disclosure“) on or before the prescribed filing deadline of July 29, 2022 as required by National Instrument 51-102 – Continuous Disclosure Obligations.
The Company’s mining operations are located in South Africa, which has been experiencing Stage 6 load-shedding (also known as rolling blackouts) this month by the state-owned electricity utility, Eskom. The reasons for the delay in filing include the inability to complete the South African portion of the Company’s annual audit in normal time frames as a result of ongoing delays relating to the power load-shedding implemented by Eskom, and the Canadian auditors’ inability to complete their audit due to reliance on the finalization of audit work in South Africa.
The Company is working with its auditors on the remaining items to allow for the audit of the financial statements for the year ended March 31, 2022 to be completed. The Company anticipates that it will be in a position to file its Financial Disclosure before August 31, 2022. The Company confirms that it will comply with the alternative information guidelines included in National Policy 12-203 – Management Cease Trade Orders, for so long as it remains in default of a specified requirement.
The Company has filed an application with the British Columbia Securities Commission and the Alberta Securities Commission requesting that they issue a management cease trade order against the Company’s Directors, Officers and Insiders instead of a cease trade order against the Company and all of its securityholders.
As has been widely reported, South Africa’s state-owned power supplier Eskom was forced to implement significant load-shedding measures over a period of several weeks. The load-shedding measures were varied depending on power reduction requirements, but resulted in power blackouts several times per day over a period of weeks. The frequency of these power blackouts limited the ability of the majority of businesses in South Africa to operate as normal, and resulted in various operational and administrative delays for the Company.https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522South_Africa%253BTiffany_%2526_Co.%253BCompany%253BFinancial_statement%253BTSX_Venture_Exchange%253BFinancial_disclosure_of_public_servants%253BEskom%253BAlberta_Securities_Commission%2522%252C%2522lmsid%2522%253A%2522a077000000LnOyOAAV%2522%252C%2522revsp%2522%253A%2522accesswire.ca%2522%252C%2522lpstaid%2522%253A%25227fe2adb3-eb6e-3a3b-b496-4fe5d107cf3c%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
About Diamcor Mining Inc.
Diamcor Mining Inc. is a fully reporting publicly traded junior diamond mining company which is listed on the TSX Venture Exchange under the symbol V.DMI, and on the OTC QB International under the symbol DMIFF. The Company has a well-established operational and production history in South Africa and extensive prior experience supplying rough diamonds to the world market.
About the Tiffany & Co. Alliance
The Company has established a long-term strategic alliance and first right of refusal with Tiffany & Co. Canada, a subsidiary of world famous New York based Tiffany & Co., to purchase up to 100% of the future production of rough diamonds from the Krone-Endora at Venetia Project at then current prices to be determined by the parties on an ongoing basis. In conjunction with this first right of refusal, Tiffany & Co. Canada also provided the Company with financing to advance the Project. Tiffany & Co. is owned by Moet Hennessy Louis Vuitton SE (LVMH), a publicly traded company which is listed on the Paris Stock Exchange (Euronext) under the symbol LVMH and on the OTC under the symbol LVMHF. For additional information on Tiffany & Co., please visit their website at www.tiffany.com.
About Krone-Endora at Venetia
In February 2011, Diamcor acquired the Krone-Endora at Venetia Project from De Beers Consolidated Mines Limited, consisting of the prospecting rights over the farms Krone 104 and Endora 66, which represent a combined surface area of approximately 5,888 hectares directly adjacent to De Beers’ flagship Venetia Diamond Mine in South Africa. On September 11, 2014, the Company announced that the South African Department of Mineral Resources had granted a Mining Right for the Krone-Endora at Venetia Project encompassing 657.71 hectares of the Project’s total area of 5,888 hectares. The Company has also submitted an application for a mining right over the remaining areas of the Project. The deposits which occur on the properties of Krone and Endora have been identified as a higher-grade “Alluvial” basal deposit which is covered by a lower-grade upper “Eluvial” deposit. The deposits are proposed to be the result of the direct-shift (in respect to the “Eluvial” deposit) and erosion (in respect to the “Alluvial” deposit) of material from the higher grounds of the adjacent Venetia Kimberlite areas. The deposits on Krone-Endora occur in two layers with a maximum total depth of approximately 15.0 metres from surface to bedrock, allowing for a very low-cost mining operation to be employed with the potential for near-term diamond production from a known high-quality source. Krone-Endora also benefits from the significant development of infrastructure and services already in place due to its location directly adjacent to the Venetia Mine.
Qualified Person Statement:
Mr. James P. Hawkins (B.Sc., P.Geo.), is Manager of Exploration & Special Projects for Diamcor Mining Inc., and the Qualified Person in accordance with National Instrument 43-101 responsible for overseeing the execution of Diamcor’s exploration programmes and a Member of the Association of Professional Engineers and Geoscientists of Alberta (“APEGA”). Mr. Hawkins has reviewed this press release and approved of its contents.
This news release contains statements that constitute “forward-looking statements.” Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.
Forward-looking statements in this document include statements concerning the Company’s intent to file the Financial Disclosure before August 31, 2022 and all other statements that are not statements of historical fact.
Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. By their nature, these statements involve a variety of assumptions, known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such statements.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with adverse industry events; future legislative and regulatory developments; COVID-19 and other assumptions, risks and uncertainties.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
The Canadian Securities Exchange has not approved nor disapproved the contents of this news release.
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.
Plan View of the Guayabales Project Highlighting the Apollo Target
Figure 2
Plan View of the Apollo Target Area Outlining the Porphyry and Breccia Targets, their Related Soil Anomalies and Drill Holes Completed or Currently Underway
Figure 3
Plan View of the Hydrothermal Breccia Discovery Made at Apollo Highlighting the Various Holes Completed or Underway to Date
Figure 4
Apollo Target Cross Section NE-SW With APC-3 and APC-5 Highlighting Mineralized Intervals and Vertical Depths of Mineralization. Related Core Photos Highlighted
TORONTO, July 26, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce visual observations from three additional holes completed at the Apollo target (“Apollo”) at the Company’s Guayabales project located in Caldas, Colombia. Apollo is a newly discovered high-grade copper-gold-silver porphyry-related breccia where the Company recently announced the assay results for the discovery hole APC-1, which intersected 87.8 metres @ 2.49 g/t AuEq (see press release dated June 22, 2022). Apollo is one of eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the Guayabales project. As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target with an additional rig being mobilized to site to begin the Phase II program at the Olympus target in August 2022. https://embed.fireplace.yahoo.com/embed?ctrl=Monalixa&m_id=monalixa&m_mode=document&site=sports&os=android&pageContext=%257B%2522ctopid%2522%253A%25221542500%253B1577000%2522%252C%2522hashtag%2522%253A%25221542500%253B1577000%2522%252C%2522wiki_topics%2522%253A%2522Target_Corporation%253BMultiview_orthographic_projection%253BBreccia%253BColombia%253BBorehole%253BApollo%253BDrill%2522%252C%2522lmsid%2522%253A%2522a0770000002m0AbAAI%2522%252C%2522revsp%2522%253A%2522globenewswire.com%2522%252C%2522lpstaid%2522%253A%25222c496b5d-b8c5-3406-ba24-d9db912a88bf%2522%252C%2522pageContentType%2522%253A%2522story%2522%257D
Highlights (See Figures 1 – 4)
Drill holes APC-3 and APC-5 were drilled in opposite directions from two separate drill pads to the northeast and southwest respectively in order to test continuity of the mineralized breccia previously intersected in holes APC-1, APC-1W and APC-2 (see press releases dated April 27, 2022, June 22 and July 6, 2022). Both holes intersected at least 200 metres of mineralized breccia, from 276 metres downhole (200 metres vertical) in APC-3 and from 252.6 metres downhole (135 metres vertical) in APC-5. Core from these holes have been sent to the lab as a batch and assay results are expected in the near future.
Drill hole APC-4 targeted a newly generated breccia target located closely to the east of the main breccia at Apollo where a small historical artisanal mine is located. After passing through weathered and unmineralized material, the hole intersected 10 to15 metres of favorable breccia with overprinting CBM veins. Core logging from this hole is being finalized and half core will be sent to the assay lab shortly for analysis.
Visual observations and results to date from the first five holes drilled into the Apollo target confirm that the main mineralized breccia has a minimum strike length of 300 metres in a NE-SW direction and extends to at least 400 metres vertically below surface. The target remains open in all directions.
Mineralization is remarkably continuous along the axis of both intercepts and is hosted within a breccia sulphide matrix consisting of chalcopyrite (Cu), pyrite and pyrrhotite. The breccia clasts are all quartz diorite in composition and this hydrothermal system is clearly linked to a porphyry system. Additionally, overprinting carbonate base metal (“CBM”) veinsflood the breccia matrix in various locations along the mineralized intervals. In drill hole APC-3, zones of sheeted CBM veins were outlined over intervals of 10 to 25 metres with visible sphalerite (Zn) and Galena (Pb) observed.
The Apollo target, as defined to date by surface mapping, rock sampling and copper and molybdenum soil geochemistry, covers an 800 metre X 700 metre area and further drilling is planned from various locations to continue to expand the mineralized zone.
Apollo is road accessible all year-round and is situated within an elevation range of 1,800 to 2,000 metres above sea level. Additionally, an electrical substation is located less than one kilometre from the target area.
“The Apollo target continues to expand in size as we complete further drilling. These two new holes outline the robust nature of this mineralized breccia, and we now have three intercepts measuring more than 200 metres in length which are beginning to point to the discovery of a potentially large bulk-style mineralized system. We will continue to be aggressive in drilling Apollo at various orientations and dips to learn the geometry of the system and unlock the potential of this very exciting new discovery,” commented Ari Sussman, Executive Chairman.
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. Collective Mining currently holds options to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been identified. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.11 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEq at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 g/t AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations.)
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Contact Information
Collective Mining Ltd. Steve Gold, Vice President, Corporate Development and Investor Relations Tel. (416) 648-4065
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Vancouver, British Columbia–(Newsfile Corp. – July 20, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the execution of an exploration and option agreement for two projects in Norway with Minco Silver Corporation (TSX: MSV) (“Minco”). The agreement provides EMX with cash payments and work commitments during a one-year option period, and upon exercise of an option on either project, EMX will receive equity stakes in Minco, additional work commitments, advance royalty payments, milestone payments and a 2.5% NSR royalty.
The two projects optioned to Minco are the Sagvoll and Sulitjelma polymetallic projects in Norway (See Figure 1). The Sagvoll project hosts both volcanogenic massive sulfide (“VMS”) styles of mineralization and magmatic sulfide nickel-copper mineralization, and the Sulitjelma project is past producer of VMS polymetallic mineralization. The combination of base, battery and precious metals make this an especially compelling portfolio of projects.
Minco is a well-capitalized, Canadian publicly traded company that will work closely with EMX to advance the projects through the option period.
Commercial Terms Overview. All terms in Canadian Dollars. Pursuant to the agreement, Minco can acquire a 100% interest in either of the projects by a) making a $60,000 cash payment to EMX upon execution, and b) spending a minimum of $100,000 on each of the projects during a 12 month option period. Upon exercise of an option on either project, Minco will:
pay EMX $35,000 in cash, and issue to EMX a 2.5% NSR royalty interest in each project retained1,
issue to EMX the amount of shares equal to 2% of the issued and outstanding shares of Minco,
upon the 6th month anniversary of exercise of an option for each retained project, issue additional shares equal to 0.5% of the issued and outstanding shares of Minco and expend an additional $200,000 per project,
by the third anniversary of the execution of the agreements, expend an additional $700,000 per project retained,
beginning on the third anniversary of the execution of the agreements, make annual advance royalty payments to EMX, which will start at $25,000 per project per year and increase by 15% each year thereafter (but capped at an annual payment of $75,000 per project)2,
by the fifth anniversary of the execution of the agreement, expend a cumulative total of $4 million on the projects.
EMX will also receive milestone payments of $250,000 on each retained project upon completion of a preliminary economic assessment (or “PEA”) and upon completion of a positive feasibility study (“PFS”). These milestone payments can be made in cash or in shares of Minco. Minco can also purchase 0.5% of any NSR royalty for $1 million by the sixth anniversary of the agreements.
Overviews of the projects. The Sagvoll and Sulitjelma polymetallic projects in Norway are located in the early Paleozoic VMS belt in Norway, which saw numerous districts and mines in operation from the 1600’s through the 1990’s.
Sagvoll Project, Caledonian VMS Belt, Southern Norway: The Sagvoll project in southern Norway consists of both VMS and magmatic nickel-copper sulfide mineralization developed along the Caledonian orogenic trend. This metallogenic region represents a tectonically displaced continuation of the Cambrian-Ordovician VMS belts in northeastern North America, which includes the Buchans and Bathurst VMS camps in eastern Canada, and also the Avoca VMS district in Ireland. As such, this represents one of the more prolific VMS belts in the world in terms of total production from its various mining districts, albeit now tectonically displaced and occurring along opposite sides of the Atlantic Ocean.
At Sagvoll, mineralization and historic mining areas are positioned along a 13 kilometer trend. Although multiple historic mines are present in the area, only limited historical drilling has taken place, most of which were drilled over 100 years ago. Many prospects and mining areas remain untested. The most recent work conducted in the district took place in 2006, when Xstrata PLC (“Xstrata”) flew airborne geophysical surveys and identified five prioritized nickel-copper targets and 11 VMS targets for further exploration and drill testing3. However, the follow-up exploration work was never completed.
EMX has identified several “walk-up” style drill targets based upon the historical and more recent Xstrata data, and will work closely with Minco to systematically explore the area.
Sulitjelma District, Central Norway: The Sulitjelma VMS district was discovered in 1858 and was mined continuously from 1891-1991. Sulitjelma was one of the last operating base metal mines in Norway. VMS style mineralization occurs along a trend that extends for over 20 kilometers and is developed along multiple stratigraphic horizons and structurally repeated sections. Metamorphism and deformation have caused thickening and repetition of mineralized horizons in the area. The district produced over 25 million tonnes, averaging 1.84% copper, 0.86% zinc, 10 grams per tonne silver and 0.25 grams per tonne gold4. Significant historical resources were left unmined at the time of closure in the early 1990’s.
The district has seen very little work since the mines closed. Recent (2014) airborne geophysical surveys highlighted multiple conductive anomalies along the main trend of mineralization that have not yet been drill tested, and EMX geologists have found outcropping expressions of VMS style mineralization, also along trend, that have not been developed or drill tested.
Nearby Mines and Deposits. The nearby mines and deposits discussed in this news release provide context for EMX’s projects, which occur in similar geologic settings, but this is not necessarily indicative that the Company’s projects host similar tonnages or grades of mineralization.
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 is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@emxroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@emxroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2022 and the year ended December 31, 2021 (the “MD&A”), and the most recently filed Revised Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
1 By the sixth anniversary of the agreement, Minco can purchase 0.5% of EMX’s NSR royalty by paying EMX $1 million, thereby reducing the royalty to 2.0%. 2 If Minco retains all three projects, Minco will only be responsible for paying two of the advance royalty payments. 3 Internal Xstrata PLC internal report by Beaudoin for A/S Sulfidmalm Project 206, “Report of field work in the Skjarkerdalen area, central Norway: Summer 2006”. On file at Geological Survey of Norway (NGU). 4 Historical production data from the Geological Survey of Norway (NGU) Ore Database, Deposit Area 1841-024, updated Dec 18, 2017.
Plan View of the Guayabales Project Highlighting the Olympus Target
Figure 2
Plan View of the Olympus Central Target Outlining the BMZ Area and the Zone of Multiple, High-Grade, CBM Veins
Figure 3
Photos of High-Grade CBM Veins Reported Herein
TORONTO, July 19, 2022 (GLOBE NEWSWIRE) — Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce the discovery of a potentially significant broad mineralized zone as well as additional high-grade gold and silver assay results from channel samples taken at the Olympus target (“Olympus”) at the Company’s 100% owned Guayabales project in Caldas, Colombia. A noteworthy discovery drill hole from the northern area of Olympus was announced by the Company in March 2022, with OLC-3 yielding 302 metres @ 1.11 g/t AuEq from near surface. Olympus is one of the eight porphyry-related targets situated within a three-by-four-kilometre cluster area generated by the Company through grassroots exploration at the Guayabales project. As part of its fully funded 20,000+ metre drill program for 2022, there are currently three diamond drill rigs operating at the Apollo target, which is located approximately 800 metres south-southeast of Olympus. Furthermore, additional rigs have been secured to begin the Phase II program at Olympus with the first hole anticipated to commence drilling from underground in August 2022.
Highlights (See Tables 1-2 and Figures 1-3)
Continuous channel sampling, where possible, were taken by the Company along a historical crosscut covering a 182.45 metre horizontal width and hosting multiple mineralized veins, veinlets and structures within intensely altered porphyry and country rocks. This sampling has outlined a broad mineralized zone (“BMZ”) with assay results as follows:
Sampling from the eastern half of the crosscut was in oxidized material, which the Company believes may be underrepresenting the actual grade because previously announced chip channel sample assay results within vein material at slightly lower elevations directly below this area of the crosscut yielded materially higher grades. (See press releases dated May 12, 2022 and June 1, 2022)
Table 1: Crosscut Channel Sampling Assay Results
Crosscut Sampling
From (m)
To (m)
Width (m)
Au (g/t)
Ag (g/t)
AuEq (g/t)*
0.00
182.45
182.45
0.89
23
1.15
Incl.
7.70
13.20
5.50
2.62
56
3.23
113.70
120.00
6.30
2.73
29
2.98
130.15
132.15
2.00
1.83
196
4.34
162.15
167.05
4.90
2.44
58
3.10
177.40
182.45
5.05
8.03
69
8.55
*AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95), Ag – $21/oz and Au US$1,500/oz and recovery rates of 95% for Au, Ag. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. Channel samples are taken continuously along the walls of the underground crosscuts. Approximately 8% of the total horizontal length could not be sampled due to timber support. Assay results are uncapped, and no cut-off grade has been applied.
Assay results of chip channel samples taken from veins located within historical, shallow underground working faces at Olympus, directly west of the BMZ zone, continue to confirm the presence of multiple, high-grade carbonate base metal (“CBM”) sheeted vein systemswith results as follows:
Table 2: Chip Channel Sample Assay Results from Olympus
Channel Sample
Au (g/t)
Ag (g/t)
AuEq (g/t)*
True Width (metres)
1
118.79
2,359
144.23
0.25
2
24.62
160
25.52
3.00
3
3.31
182
5.57
1.40
4
33.23
328
35.93
0.50
5
23.61
466
28.63
0.90
6
9.71
66
10.10
1.30
7
9.15
46
9.31
1.00
8
3.17
90
4.20
1.55
9
6.53
69
7.12
1.00
10
4.02
145
5.76
1.70
* AuEq (g/t) is calculated as follows: (Au (g/t) x 0.95) + (Ag g/t x 0.014 x 0.95), Ag – $21/oz and Au US$1,500/oz and recovery rates of 95% for Au, Ag. Recovery rate assumptions are speculative as no metallurgical work has been completed to date. Channel samples are taken across the working faces of historical and current artisanal mining drifts. Assay results are uncapped, and no cut-off grade has been applied. Assay results for base metals are still pending for all channel samples listed above.
The high-grade CBM veins outlined above are located directly west of the BMZ and collectively both areas outline a target zone measuring greater than 300 metres of width which remains open in all directions. Historical workings along veins to the northwest and southeast of the crosscut indicate a potential strike length to the systems of at least 500 metres which is open for expansion.
Drilling, underground sampling and surface mapping to date have expanded Olympus to a target area measuring more than 1,400 metres by 900 metres, which hosts over 50 artisanal mines with over 25 veins mapped from available exposures. The results outlined in this press release cover only the southwest portion of this target area. Previous drilling in the northern portion of the target area returned broad intercepts of up to 301.9 metres @ 1.11 g/t gold equivalent (see press release dated March 15, 2022). The Company believes that the probability is high that additional veins and BMZ zones will be discovered as exploration ramps up. To date only small portions of the target area have been drill tested or sampled and the Olympus target remains open to the east, west, northwest, south and at depth.
A phase II underground drill program will commence in August 2022 and is expected to ramp up in scale for the balance of the year as new drill chambers are constructed and additional rigs are added.
“The presence of both broad mineralized zones and high grade CBM veins at Olympus is exciting and highlights the potential for a combination of both bulk and selective mining scenarios in the future. To date we have only covered with drilling and sampling a few small windows within this large mineralized system. We look forward to drilling the southwest portion of the system beginning in August as the highest-grade samples found to date are from within this area,” commented Ari Sussman, Executive Chairman.
“On another front, we are now drilling with three rigs at the Apollo target and continue to intercept potentially significant lengths of mineralized breccia with overprinting CBM veins. We will provide further details in the coming weeks once new holes are completed and logged. Assay results from holes APC-1W and APC-2 at Apollo are expected shortly and will be announced once results have been received, compiled are interpreted by the Company.”
Collective Mining is an exploration and development company focused on identifying and exploring prospective mineral projects in South America. Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, the mission of the Company is to repeat its past success in Colombia by making significant new mineral discoveries and advance the projects to production. Management, insiders and close family and friends own nearly 45% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company currently holds an option to earn up to a 100% interest in two projects located in Colombia. As a result of an aggressive exploration program on both the Guayabales and San Antonio projects, a total of eight major targets have been identified. The Company is fortuitous to have made significant grassroot discoveries at both projects with near-surface discovery holes at the Guayabales project yielding 302 metres at 1.1 g/t AuEq at the Olympus target, 163 metres at 1.3 g/t AuEq at the Donut target and 87.8 metres at 2.49 g/t AuEg at the Apollo target. At the San Antonio project, the Company intersected, from surface, 710 metres at 0.53 AuEq. (See press releases dated October 27th, 2021, November 15, 2021, March 15, 2022 and June 22, 2022 for AuEq calculations.)
Qualified Person (QP) and NI43-101 Disclosure
David J Reading is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 (“NI 43-101”) and has reviewed and verified that the technical information contained herein is accurate and approves of the written disclosure of same. Mr. Reading has an MSc in Economic Geology and is a Fellow of the Institute of Materials, Minerals and Mining and of the Society of Economic Geology (SEG).
Technical Information
Rock and core samples have been prepared and analyzed at SGS laboratory facilities in Medellin, Colombia and Lima, Peru. Blanks, duplicates, and certified reference standards are inserted into the sample stream to monitor laboratory performance. Crush rejects and pulps are kept and stored in a secured storage facility for future assay verification. No capping has been applied to sample composites. The Company utilizes a rigorous, industry-standard QA/QC program.
Contact Information
Collective Mining Ltd. Steve Gold, Vice President, Corporate Development and Investor Relations Tel. (416) 648-4065
FORWARD-LOOKING STATEMENTS
This news release contains certain forward-looking statements, including, but not limited to, statements about the drill programs, including timing of results, and Collective’s future and intentions. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking statements involve significant risk, uncertainties, and assumptions. Many factors could cause actual results, performance, or achievements to differ materially from the results discussed or implied in the forward-looking statements. These factors should be considered carefully, and readers should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in this news release are based upon what management believes to be reasonable assumptions, Collective cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and Collective assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
Burlington, Ontario–(Newsfile Corp. – July 13, 2022) – Silver Bullet Mines Corp. (TSXV: SBMI) (OTCQB: SBMCF) (“SBMI” or “the Company”) is both pleased and proud to announce it has successfully produced silver and copper at its wholly owned 125 metric ton per day mill near Globe, Arizona.
“This production is the result of years of hard work, planning and dedication, and the incredible talents of the Arizona team,” said A. John Carter, SBMI’s CEO. “Over the past ten months, despite COVID-19 and global supply chain issues, we have spent less than three million dollars building this fully functional mill, a staggering feat. This is to my mind a one-of-a-kind experience.”
The mill produced its first silver concentrate from lower grade ore on July 12, 2022 and plans to soon pour its first dore bars. The Company intends to continue to use lower grade ore to optimize recovery efficiency and fine tune the various mill components. Higher grade ore will be introduced into the system once the mill is operating at higher rates of recovery. To date there have been no major setbacks and all components are operating within expected parameters.
Below is a photo of the first band of silver coming off the shaker table. The silver is visible on the left side of the photo. The secondary concentrate line is a silver/copper blend which will be bagged and sold. The initial concentrate and dore should be sold to various refineries, whose apparent demand should account for SBMI’s entire silver and copper production over the coming weeks.
A video of the shaker table operating can be found at the Company’s website, www.silverbulletmines.com.
The Buckeye Silver Mine is the source of the bulk sample ore for the mill. Both the mill and the Buckeye Mine are 100% controlled by SBMI. At the Buckeye, the field team is currently extracting ore from a vein at a location where it is approximately 12 feet wide. SBMI’s target is to have at least one month (5,000 tonnes) of raw ore available to the mill at all times, meaning management expects ore to be continually shipped from the Buckeye to the mill on a regular schedule.
Over the coming weeks management expects a steady stream of announcements as material milestones are met.
Please check the Company’s website www.silverbulletmines.com, or follow on Twitter @bulletmines or at YouTube “Silver Bullet Mines”.
For further information, please contact:
John Carter Silver Bullet Mines Corp., CEO cartera@sympatico.ca +1 (905) 302-3843
Peter M. Clausi Silver Bullet Mines Corp., VP Capital Markets pclausi@brantcapital.ca +1 (416) 890-1232
Cautionary and Forward-Looking Statements
Silver Bullet Mines Corp. trades on the TSX Venture Exchange under the symbol SBMI and on the OTCQB Venture Market under the symbol SBMCF. The OTCQB Venture Market is for early stage and developing U.S. and international companies. Companies listed there are current in their reporting and undergo an annual verification and management certification process. Investors can find current financial disclosure for the Company on www.otcmarkets.com and at https://money.tmx.com/en/quote/SBMI.
This news release contains certain statements that constitute forward-looking statements as they relate to SBMI and its subsidiaries. Forward-looking statements are not historical facts but represent management’s current expectation of future events, and can be identified by words such as “believe”, “expects”, “will”, “intends”, “plans”, “projects”, “anticipates”, “estimates”, “continues” and similar expressions. Although management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that they will prove to be correct.
By their nature, forward-looking statements include assumptions, and are subject to inherent risks and uncertainties that could cause actual future results, conditions, actions or events to differ materially from those in the forward-looking statements. If and when forward-looking statements are set out in this new release, SBMI will also set out the material risk factors or assumptions used to develop the forward-looking statements. Except as expressly required by applicable securities laws, SBMI assumes no obligation to update or revise any forward-looking statements. The future outcomes that relate to forward-looking statements may be influenced by many factors, including but not limited to: the impact of SARS CoV-2 or any other global virus; reliance on key personnel; the availability of skilled and unskilled labour; the presence and recoverability of mineralization; ongoing availability of infrastructure such as electrical, diesel and road access; the thoroughness of its QA/QA procedures; the continuity of the global supply chain for materials for SBMI to use in the production and processing of ore; shareholder, permitting and regulatory approvals; activities and attitudes of communities local to the location of SBMI’s properties; price increases related to supply chain issues; risks of future legal proceedings; income tax matters; fires, floods and other natural phenomena; the rate of inflation; availability and terms of financing; distribution of securities; commodities pricing; currency movements, especially as between the USD and CDN; effect of market interest rates on price of securities; and, potential dilution. SARS CoV-2 and other potential global viruses create risks that at this time are immeasurable and impossible to define.
VANCOUVER, BC / ACCESSWIRE / July 13, 2022 / Metallic Minerals (TSXV:MMG | US OTCQB:MMNGF) (“Metallic Minerals“, or the “Company“) announces the commencement of field activities at the Company’s 100% owned, 166 square kilometer Keno Silver project, located in the historic Keno Hill silver district of Canada’s Yukon Territory. In July 2022, Hecla Mining Company (“Hecla”), the largest silver producer in the United States and third largest in the world1, announced the acquisition of neighboring Alexco Resource Corp.(“Alexco”), which holds the western portion of the district and mining and milling operations. Metallic Minerals owns the second largest land position in the prolific district covering the east, and parts of central and western Keno Hill, including eight high-grade, shallow past-producing deposits.
The 2022 exploration program is expected to consist of at least 3,000 meters of diamond core drilling, focused on resource definition drilling at multiple advanced-stage targets including Formo and Caribou deposits in the West Keno and Central Keno areas and the recently discovered Fox target area in East Keno, as well as step out drilling at several new discoveries. Detailed geophysical and soil surveys will also be conducted to aid in refinement and prioritization of reconnaissance drill targets in several untested target areas. Additionally, for the first time, the district will be flown for a LIDAR survey, which will provide greater precision in survey and topographic control while aiding in lineament detection in the search for new Keno-style high-grade silver discoveries.
Metallic Minerals President, Scott Petsel, commented: “We are excited to be initiating our 2022 field campaign at the Keno Silver project, particularly in the wake of the recently announced acquisition of our neighbors at Alexco by Hecla. This is a re-energizing catalyst for the Keno Hill silver district and highlights the quality of the existing reserves and resources and the exploration potential in one of the world’s highest grade silver producing regions that has produced over 200 million ounces of ultra-high-grade silver. We have enjoyed a close and productive working relationship with the team at Alexco and are excited to see the mining operation reach its full potential.”
Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture
“Metallic Minerals is on the cusp of transforming our own story in the Keno silver district as this year’s drill program is focused on advancing existing mineral inventories to formal NI 43-101 resources at our most advanced targets. In addition, we expect to announce commencement of field activity at our La Plata silver-gold-copper project in Colorado shortly, as well as updates with regard to planned activities on our Klondike alluvial gold royalty portfolio.”
Private Placement
Metallic has completed and closed its second non-brokered private placement financing for total proceeds raised of $4,649,820. Proceeds from the two private placements will be used toward eligible Canadian exploration expenses, within the meaning of the Income Tax Act (Canada) and for general working capital.
The second private placement consisted of the issuance of 1,471,000 units at a price of $0.42 per unit for aggregate proceeds of $617,820. Each unit consisted of one common share and one-half purchase warrant where each whole warrant is exercisable into a common share for 30 months at a price of $0.50. A total of 846,000 units were sold on a flow-through basis with the common share comprising the units being issued as a flow-through common share.
The common shares comprising the units are subject to a hold period of four months and one day from their date of issuance under applicable Canadian securities law. The flow-through shares have not been, and will not be, registered under the U.S. Securities Act or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
An officer of the company participated in the private placement for a total of 25,000 units. The participation by the insider in the private placement is considered to be a related party transaction as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued, nor the consideration being paid exceeds 25% of the Company’s market capitalization.
About the Keno Silver Project
Keno Hill is one of the world’s highest-grade silver districts, with nearly 300 million ounces (“Moz”) of silver in past production and current M&I resources1,2 and featuring excellent existing infrastructure, including grid power, road access and nearby community services. In July 2022, Hecla announced the acquisition of Alexco Resource Corp, which holds the western portion of the district and mining and milling operations. Metallic Minerals’ Keno Silver project is adjacent and contiguous, covering the east, and parts of the central and western Keno silver district and includes eight high-grade, shallow past-producing mines. Prior to the Company’s consolidation of the land package, very little modern exploration had been completed in these parts of the district due to fragmented, private land ownership. Metallic Minerals has advanced three targets in the district from discovery to expansion drilling with several additional targets at drill-ready status along the known historically productive trends. In addition, recent exploration has defined and expanded 12 new priority multi-kilometer-scale early-stage targets for reconnaissance drilling in the under-explored parts of the district where highly elevated silver, lead and zinc in soils and high-grade rock samples have been identified.
Metallic Minerals Corp., Tuesday, July 12, 2022, Press release picture
2022 Drilling at Fox Target at East Keno
About Metallic Minerals
Metallic Minerals Corp. is an exploration and development stage company, focused on silver, gold and copper in the high-grade Keno Hill and La Plata mining districts of North America. Our objective is to create shareholder value through a systematic, entrepreneurial approach to making exploration discoveries, growing resources and advancing projects toward development. Metallic Minerals has consolidated the second-largest land position in the historic Keno Hill silver district of Canada’s Yukon Territory, directly adjacent to Alexco Resource Corp’s operations, with more than 300 million ounces of high-grade silver in past production and current M&I resources. Hecla Mining Company, the largest primary silver producer in the USA and fourth largest in the world, announced the acquisition of Alexco in July 2022. Metallic recently announced the inaugural NI 43-101 mineral resource estimate for its La Plata silver-gold-copper project in southwestern Colorado. The Company also continues to add new production royalty leases on its holdings in the Klondike gold district in the Yukon. All three districts have seen significant mineral production and have existing infrastructure, including power and road access. Metallic Minerals is led by a team with a track record of discovery and exploration success on several major precious and base metal deposits, as well as having large-scale development, permitting and project financing expertise.
About the Metallic Group of Companies
The Metallic Group is a collaboration of leading precious and base metals exploration and development companies, with a portfolio of large, brownfields assets in established mining districts adjacent to some of the industry’s highest-grade producers of silver and gold, platinum and palladium, and copper. Member companies include Metallic Minerals in the Yukon’s high-grade Keno Hill silver district and La Plata silver-gold-copper district of Colorado, Granite Creek Copper in the Yukon’s Minto copper district, and Stillwater Critical Minerals in the Stillwater PGE-nickel-copper district of Montana and Kluane district in the Yukon. The founders and team members of the Metallic Group include highly successful explorationists formerly with some of the industry’s leading explorer/developers and major producers. With this expertise, the companies are undertaking a systematic approach to exploration and development using new models and technologies to facilitate discoveries in these proven, but under-explored, mining districts. Members of the Metallic Group have been recognized as recipients of awards for excellence in environmental stewardship demonstrating commitment to responsible resource development and appropriate ESG practices. The Metallic Group is headquartered in Vancouver, BC, Canada, and its member companies are listed on the Toronto Venture, US OTCQB and Frankfurt stock exchanges.
Forward Looking Statements: This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Metallic Minerals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Group Ten and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.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.
Vancouver, British Columbia–(Newsfile Corp. – July 13, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to announce the achievement of commercial production for oxide gold mineralization at its flagship Gediktepe royalty property in western Turkey. EMX holds a 10% net smelter return (“NSR”) royalty on oxide gold production at Gediktepe, and operator Polimetal Madencilik Sanayi ve Ticaret A.S. (“Polimetal”), a private Turkish company, has informed EMX that it has produced over 10,000 ounces of gold equivalent[1] ounces, the trigger for commencement of production royalty payments to EMX. In addition to the oxide gold royalty, EMX also owns a 2% NSR royalty on production from an underlying polymetallic copper, zinc, lead and gold deposit that is slated for future development.
The Gediktepe royalty was acquired by EMX as part of its purchase of a portfolio of royalties from SSR Mining Inc. (“SSR”) in 2021 (see EMX News Release dated July 29, 2021). On a go forward basis, Polimetal has informed EMX that it expects to produce between 35,000 and 45,000 ounces of gold per year from Gediktepe (with additional contributions from silver production) while mining the oxide gold cap over the next 3-4 years. The Gediktepe royalty is the subject of a NI 43-101 technical report authored by Dama Engineering with an effective date of February 1, 2022. This technical report has been filed on SEDAR under the Company’s profile and contains historical mining reserve and mineral resource estimates.
In addition to the royalty production payments, EMX is slated to receive cash payments of US$4,000,000 upon the first anniversary of commercial production for oxide gold mineralization, US$3,000,000 on the date that commercial production commences from the underlying sulfide deposit, and US$3,000,00 upon the first anniversary of the commencement of commercial production from the sulfide deposit.
Gediktepe VMS Deposit: The Gediktepe volcanogenic massive sulfide (“VMS”) deposit is a polymetallic system with precious metal, copper, and zinc rich domains. The upper portion of the deposit is oxidized, forming a precious metal-enriched gossanous cap that will be mined first, followed by production from the underlying polymetallic sulfide deposit.
Gediktepe was discovered in 2012 by a joint venture between Alacer Gold Corporation (which merged with SSR in 2020) and Lidya Madencilik Sanayi ve Ticaret A.S. (“Lidya”), a private Turkish company. Alacer Gold Corp later converted its 50% joint venture interest at Gediktepe into the royalty interests now owned by EMX. Polimetal is a wholly owned subsidiary of Lidya and serves as the operator for the Gediktepe project.
More information on the Gediktepe royalty asset can be found at www.EMXroyalty.com.
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 is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and the TSX Venture Exchange under the symbol EMX, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.
For further information contact:
David M. Cole President and Chief Executive Officer Phone: (303) 973-8585 Dave@emxroyalty.com
Scott Close Director of Investor Relations Phone: (303) 973-8585 SClose@emxroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserve 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”, “go forward” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to: unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.
Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended March 31, 2022 (the “MD&A”) and the most recently filed Annual Information Form (the “AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.
[1] Gold equivalent ounces as referred to in the definition of “Oxide Commercial Production” in the 2019 Gediktepe share purchase agreement between Alacer Gold Madencilik A.S. and Lidya Madencilik.
