Tag: #InvestingInBatteryMetals

Categories
Junior Mining Lion One Metals Precious Metals

Lion One Discovers Broad Zone of Narrow Gold Lodes at Batiri Creek, Located 2km NE Adjacent to the Tuvatu Gold Mine in Fiji

North Vancouver, British Columbia–(Newsfile Corp. – November 15, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) provides compelling evidence of multiple mineralized centers within the Navilawa Caldera. A high-grade drill result (15.04 g/t Au over 0.3m) returned from diamond drill hole TUDDH-614 complements the regional high-grade gold discovery, first identified by surface sampling (13.27 g/t Au over 4.0m, Figure 3, Figure 4), at the Batiri Creek Lode Complex (“BCLC”) located 2.0 km NE adjacent to the Company’s 100% owned, fully permitted Tuvatu Alkaline Gold Project.

The broad, steeply-dipping BCLC was discovered by benching and surface channel sampling in August of this year as part of a continuing regional exploration program (August 29 2022 News Release Announcing Batiri Creek Discovery). This ongoing program includes multiple surface sampling techniques including BLEG (Figure 1) and has yielded a host of peripheral, high-grade, mineralized centers adjacent to the Tuvatu mine.

Several such occurrences (Figure 2) have been identified in addition to the BCLC which are generally characterized by multi cm-scale vein swarms making up narrow lodes. It is believed by Lion One’s geologic team that these narrow lodes represent the uppermost expression of stronger, wider gold lodes at depth. Narrow lodes at the BCLC can be thought of as the uppermost fractures that converge and coalesce at depth to form a larger feeder system. The BCLC’s elevation is approximately 150m above the elevation of Tuvatu, thus more of the uppermost part of the mineralized fracture system may be preserved here. Interestingly, these lodes are often situated along the lithological contact between monzonite and andesite, a setting like that of the deep high-grade feeder (500 Zone) below the currently identified resource at Tuvatu. Given that the BCLC is more than 2.0 km NE of the Tuvatu lode system, it is believed that these lodes formed from a zone of upwelling fluids that is unique and entirely independent from those at Tuvatu.

Batiri Creek Lode Complex Surface and Drill Results:

DDH TUDDH-614 Results, Batiri Lode:

TUDDH-614: Azimuth: 272°, Dip:- 45°, TD: 171.9m, Elevation: 328.1m
– 1.81 g/t Au over 0.3m from 102.3 to 102.6m
– 15.04 g/t Au over 0.3m from 118.3 to 118.6m

Surface Channel Samples: “Batiri” Lode (CH3047-CH3048) (Figure 3)
– 13.27 g/t Au over 4.0m at surface including:
Including: 36.10 g/t Au over 1.0m and
Including: 17.91 g/t Au over 0.80m

Surface Channel Samples, Other Batiri Lodes:
– 2.63 g/t Au over 1.0m from channel CH2765
– 3.32 g/t Au over 0.3m from channel CH2834
– 3.54 g/t Au over 0.3m from channel CH2789
– 3.42 g/t Au over 0.4m from channel CH2946
– 3.32 g/t Au over 1.0m from channel CH3073

Lion One technical advisor Quinton Hennigh stated, “Tuvatu and the wider Navilawa Caldera are part of a classic alkaline gold system. As we know, from geologically comparable world-class systems, such as Porgera in PNG or Cripple Creek in Colorado, these kinds of deposits are not isolated and there is potential for multiple zones of mineralization each associated with a plume of upwelling hydrothermal fluids. The discovery at the BCLC represents a prospective zone where increasingly thick Tuvatu type lodes may be found at moderate levels below the current erosional surface. Although early rains limited Lion One’s ability to drill more extensively at BCLC this season, TUDDH-614 yielded a solid high-grade intercept that might be telling us there is a bigger prize below. Lion One will return to expand the drill program at BCLC as well as other regional targets at the onset of the next dry season.



Figure 1. Target-rich environment with world-class BLEG results from the Navilawa Caldera.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_001full.jpg

Note: Tuvatu Mine and Batiri Creek prospect (location of Batiri Vein Complex, >2.0 km NE of Tuvatu)



Figure 2. Map showing surface channel sampling at Batiri Vein relative to the Tuvatu Gold Deposit

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_002full.jpg



Figure 3. Photograph and channel sampling results of “Batiri” Lode (channel CH3047-3048)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_003full.jpg



Figure 4a: Plan map of Batiri Creek surface benching, channel sampling, and TUDDH-614.bTUDDH-614 (drill collar in map) is drilled at 272 degrees from E to W beneath the surface location of high-grade channel samples (all >0.5 g/t Au surface channel samples are indicated on the map).

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_004full.jpg



Figure 4b: Benching at Batiri Creek Lode Prospect. Map to show >0.5g samples along Batiri Creek bench and the drill trace of TUDDH-614. Note the high-grade Au samples in drill core; 1.81 g/t Au over 0.3m from 102.3 to 102.6m and 15.04 g/t Au over 0.3m from 118.3 to 118.6m are 95m below the surface hit. This newly drilled lode is on strike within the NE-trending structural corridor that hosts some of the principal UR lodes at the Tuvatu gold deposit.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/2178/144280_95811d14b47fa810_005full.jpg

About Tuvatu

The Tuvatu Alkaline Gold Project is located on the island of Viti Levu in Fiji. The January 2018 mineral resource for Tuvatu as disclosed in the technical report “Technical Report and Preliminary Economic Assessment for the Tuvatu Gold Project, Republic of Fiji”, dated September 25, 2020, and prepared by Mining Associates Pty Ltd of Brisbane Qld, comprises 1,007,000 tonnes indicated at 8.50 g/t Au (274,600 oz. Au) and 1,325,000 tonnes inferred at 9.0 g/t Au (384,000 oz. Au) at a cut-off grade of 3.0 g/t Au. The technical report is available on the Lion One website at www.liononemetals.com and on the SEDAR website at www.sedar.com.

Qualified Person

In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.

QAQC Procedures

Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).

About Lion One Metals Limited

Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.

On behalf of the Board of Directors of Lion One Metals Limited

“Walter Berukoff“, Chairman and CEO

Contact Investor Relations

Toll Free (North America) Tel: 1-855-805-1250 Email: info@liononemetals.com

Website: www.liononemetals.com

Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release

This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144280

Categories
Base Metals Energy Junior Mining Nevada Copper

Nevada Copper Appoints Gregory J. Martin as Chief Financial Officer

Nevada Copper Corp.
Nevada Copper Corp.

Files Third Quarter 2022 Financial Statements and MD&A

YERINGTON, Nev., Nov. 14, 2022 (GLOBE NEWSWIRE) — Nevada Copper (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) is pleased to announce the appointment of Mr. Greg Martin as Executive Vice President and Chief Financial Officer of the Company, effective November 21, 2022.   In leading the Company’s financial functions, Mr. Martin will be integral to building fiscal discipline and structures to support the restart and ramp-up of the Company’s underground mine. In addition, he will oversee concentrate marketing, and generally assist with leading the team through the restart and ramp-up process.

Randy Buffington, President & CEO of Nevada Copper, stated, “We are very pleased that Greg will be joining the Company and taking on such a critical role in leading the finance group. His experience and leadership in mining, and specifically in Nevada operations, will be crucial in reinforcing the financial rigor needed as we transition through the capital development projects phase of the operational restart at Pumpkin Hollow to mining and milling over the next year. Looking forward, we are making good progress with the open pit prefeasibility study and look forward to Greg’s input at this key stage of development.”

Mr. Martin has nearly 30 years of experience in various financial and business development roles, primarily in the mining sector. He has held senior finance roles in several multi-national mining and mining-related companies including SSR Mining Inc. (where he was CFO from 2012 to 2021), NovaGold Resources Inc., Finning International Inc., Zincore Metals Inc. and Placer Dome Inc. He has a proven track record of providing leadership through company transitions, growth and development while implementing the fiscal discipline and structure to support sustainable operations. Mr. Martin is a Certified Professional Accountant (C.G.A.), holds an MBA from the University of Western Ontario and a Bachelor of Applied Science from the University of British Columbia.

Filing of Third Quarter 2022 Financial Statements and Management’s Discussion and Analysis (“MD&A”) of Financial Results

The Company has filed its unaudited condensed consolidated interim financial statements and the related MD&A for the third quarter and year to date periods ended September 30, 2022.  These filings can be found at www.sedar.com.

About Nevada Copper

Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade Underground Mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.

Randy Buffington
President & CEO

For additional information, please see the Company’s website at www.nevadacopper.com, or contact:

Tracey Thom | Vice President, IR and Community Relations
tthom@nevadacopper.com
+1 775 391 9029

Cautionary Language on Forward Looking Statements
This news release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities laws. All statements in this news release, other than statements of historical facts, are forward-looking statements. Such forward-looking information and forward-looking statements specifically include, but are not limited to, statements that relate to Mr. Martin’s role with the Company.

Forward-looking statements and information include statements regarding the expectations and beliefs of management. Often, but not always, forward-looking statements and forward-looking information can be identified by the use of words such as “plans”, “expects”, “potential”, “is expected”, “anticipated”, “is targeted”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements or information should not be read as guarantees of future performance and results. They are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and events to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information.

Such risks and uncertainties include, without limitation, those relating to: requirements for additional capital and no assurance can be given regarding the availability thereof; the outcome of discussions with vendors; the ability of the Company to complete the ramp-up of the Underground Mine within the expected cost estimates and timeframe; the impact of COVID-19 on the business and operations of the Company; the state of financial markets; history of losses; dilution; adverse events relating to milling operations, construction, development and ramp-up, including the ability of the Company to address underground development and process plant issues; ground conditions; cost overruns relating to development, construction and ramp-up of the Underground Mine; loss of material properties; interest rate increases; global economy; limited history of production; future metals price fluctuations; speculative nature of exploration activities; periodic interruptions to exploration, development and mining activities; environmental hazards and liability; industrial accidents; failure of processing and mining equipment to perform as expected; labour disputes; supply problems; uncertainty of production and cost estimates; the interpretation of drill results and the estimation of mineral resources and reserves; changes in project parameters as plans continue to be refined; possible variations in ore reserves, grade of mineralization or recovery rates from management’s expectations and the difference may be material; legal and regulatory proceedings and community actions; accidents; title matters; regulatory approvals and restrictions; increased costs and physical risks relating to climate change, including extreme weather events, and new or revised regulations relating to climate change; permitting and licensing; dependence on management information systems and cyber security risks; volatility of the market price of the Company’s securities; insurance; competition; hedging activities; currency fluctuations; loss of key employees; other risks of the mining industry as well as those risks discussed in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2021 and the quarter ended March 31, 2022 and in the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 31, 2022. The forward-looking statements and information contained in this news release are based upon assumptions management believes to be reasonable, including, without limitation: no adverse developments in respect of the property or operations at the project; no material changes to applicable laws; the ramp-up of operations at the Underground Mine in accordance with management’s plans and expectations; no worsening of the current COVID-19 related work restrictions; reduced impacts of COVID-19 going forward; the Company will be able to obtain sufficient additional funding to complete the ramp-up, no material adverse change to the price of copper from current levels; and the absence of any other factors that could cause actions, events or results to differ from those anticipated, estimated or intended.

The forward-looking information and statements are stated as of the date hereof. The Company disclaims any intent or obligation to update forward-looking statements or information except as required by law. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ materially from those described in forward-looking information and statements, there may be other factors that could cause actions, events or results not to be as anticipated, estimated or intended. Specific reference is made to “Risk Factors” in the Company’s Management’s Discussion and Analysis in respect of the year ended December 31, 2021 and the quarter ended March 31, 2022 and “Risk Factors” in the Company’s Annual Information Form dated March 31, 2022, for a discussion of factors that may affect forward-looking statements and information. Should one or more of these risks or uncertainties materialize, should other risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results and events may vary materially from those described in forward-looking statements and information. For more information on the Company and the risks and challenges of its business, investors should review the Company’s filings that are available at www.sedar.com.

The Company provides no assurance that forward-looking statements and information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements or information. Accordingly, readers should not place undue reliance on forward-looking statements or information.

Categories
Base Metals Junior Mining

Gladiator Metals Corp. Announces Option Agreement to Acquire Whitehorse Copper Project

Vancouver, British Columbia–(Newsfile Corp. – November 14, 2022) – Gladiator Metals Corp. (TSXV: GLAD) (“Gladiator” or the “Company“) is pleased to announce that it has entered into a Mineral Property Option Agreement (the “Option Agreement“) dated November 8, 2022 with H. Coyne & Sons Ltd. (the “Optionor“) whereby the Optionor has granted the Company the right to acquire a 100% legal and beneficial interest in all of the Optionor’s title and interest (the “Option“) in and to 315 contiguous mineral claims located in the Yukon (the “Whitehorse Copper Project” or the “Project“). Project highlights:

  • High Grade historical copper production of >10Mt @ 1.5% Cu produced (plus Au/Ag credits) via open pit (1967-1971) and underground (1972-1982).
  • Whitehorse Copper Project includes 30 known prospects within a 35km x 5km area. Shallow, high grade copper results from multiple prospects. Limited systematic drilling away from existing pits. All previous operations and residual reserves open along strike and down dip.
  • Approximately 10,000 metres of unassayed core from exploration drilling to be assayed and logged. Year-round access for work programs, good road and drill access network established, low-cost exploration due to proximity to Whitehorse and strong partnership with the Optionors, an experienced local drilling service provider.
  • Significant future exploration potential with drilling outside of historic areas of operation including:
  • Cowley Park: Most advanced prospect area with near term resource potential. Mineralization open at depth and along strike (mineralization drilled to max 150m vertical depth only). Historic drill hole intercepts include:
    • CP-144: 38.57m @ 1.76% Cu, 7.15 g/t Ag from 33.98m downhole
    • 18-CP-03: 9.14m @ 2.0% Cu, 12.5 g/t Ag from 83.82m downhole
    • 18-CP-06: 23.04m @ 1.91% Cu, 12.7 g/t Ag from 74.98m downhole
    • 19-CP-08: 24.4m @ 3.71% Cu, 14.3 g/t Ag from 105.46m downhole

Other prospects within the project area, with historic drill hole intercepts, include:

  • War Eagle:
    • HT-1: 10.55m @ 4.99% Cu, 1.05g/t Au, 40.3g/t Ag from 124.39m
  • North Star:
    • NS-15: 14.63m @ 4.95% Cu from 419.65m.

The drill results reported in this news release are historical in nature. Gladiator has not undertaken any independent investigation, nor has it independently analyzed the results of the historical exploration work in order to verify the results. The Company believes that the historical drill results may not all conform to the presently accepted industry standards. Gladiator considers these historical drill results relevant as the Company will use this data as a guide to plan future exploration programs. The Company also considers the data to be reliable for these purposes, however, the Company’s future exploration work will include verification of the data through drilling.

Given the proximity to Whitehorse, the Project will benefit from all year access, excellent infrastructure (local Yukon miner Minto Metals currently export copper concentrate from nearby Skagway) and a strong relationship with local partners for drilling services and developing positive community relations. With global copper metal demand currently forecast to outstrip future supply due to the global government’s coalition focus on developing electric vehicle and clean energy markets for Net Zero 2050, the Project provides excellent exposure to potential high grade significant copper resources in a stable tier 1 jurisdiction.

The Whitehorse Copper Project

The Whitehorse Copper Project is an advanced-stage copper (Cu) ± molybdenum (Mo) ± silver (Ag) ± gold (Au) skarn exploration project in the Yukon Territory, Canada. The property comprises 315 contiguous claims covering approximately 5,380 Hectares (13,294 acres) in the Whitehorse Mining District. The Whitehorse Copper Project covers a significant portion of what has historically been known as the Whitehorse Copper Belt. Gladiator Metals Corp. has entered into a 6-year option agreement with H. Coyne and Sons Ltd. to earn a 100% interest in the Project.

Copper mineralization was first discovered in 1897 on the Whitehorse Copper Belt, as it became to be known. The Whitehorse Copper Belt comprised over 30 copper-related, primarily skarn occurrences covering an area of 35 by 5 km in a north westerly trending arc. Exploration and mining development have been carried out intermittently since that time with the main production era lasting between 1967 and 1982 where production totaled 267,500,000 pounds copper, 225,000 ounces of gold and 2,838,000 ounces of silver from 11.1 million tons of mineralized skarn ore were milled (Watson, 1984).

The Project is road accessible with numerous access roads located within 2 km of the South Klondike Highway and the Alaska Highway. An extensive network of historical gravel exploration and haul roads exists throughout the project area and provide excellent access to the majority of the claim package. Access to existing electric power facilities is available through the main Yukon power grid.

The Whitehorse Copper Project is located within the traditional territory of the Kwanlin Dün and Ta’an Kwäch’än Council First Nations. Gladiator acknowledges and respects the traditional territory of the Kwanlin Dün and Ta’an Kwäch’än Council First Nations and is committed to developing a respectful relationship with them.

The intrusive rocks of the region are predominantly granodioritic to dioritic and Cretaceous in age (109 – 199 Ma). They are thought to form the upper reaches of a large batholith belonging to the Whitehorse Plutonic Suite and intrude primarily into Triassic to Jurassic Lewes River Group clastic and carbonate metasediments. Throughout the Whitehorse Copper Project, skarning occurs variably through limestone horizons and along the contacts with the intrusive rocks. Skarn deposits within the Whitehorse Copper Project are considered exoskarns that formed within 150 m of the mid Cretaceous calc-alkaline Whitehorse Batholith contact; however, a number of endoskarns are documented within the intrusion as well. Two main types of skarn deposits are observed. Iron-rich, in which copper occurs with magnetite, serpentine, specularite, talc, chlorite and occasional pyrrhotite and pyrite and Iron-poor (calc-silicate) where copper occurs with garnet, diopside, wolastonite, tremolite, epidote, chlorite, calcite and quartz. The copper minerals occur as grains, blebs, pods and stringers that appear to postdate the skarn minerals. Bornite is predominant in the iron-rich skarns and is slightly more abundant than chalcopyrite in the silicate skarns. Silver content is proportional to the copper grade but gold is more erratically distributed, being more abundant in the iron-rich skarn deposits.

The last mining activity in the region ceased in 1982 with the closure of the Little Chief mine. With the acquisition of the claims by H.Coyne & Sons Ltd. in 1998 from Hudson Bay Mining and Smelting Co. Ltd, a fragmented land package was amalgamated, and a new phase of exploration began which focused primarily on drilling, trenching, geophysics, geology and surface geochemistry work. The most recent work on the Project has focused on defining and extending mineralization at the Cowley Park Copper deposit through diamond drilling. The recent drilling campaigns have returned drill core assay intervals consistent in grade with historical results.

The Cowley Park prospect is the Company’s main focus during initial exploration. Cowley Park sits at the southern end of the Project and had reached feasibility stage before operations in the belt were shut down in 1982. Diamond drilling was carried out in the 1960’s loosely defining the main zone mineralization and more thorough drilling was conducted in the early 1970’s culminating in a total of ~125 holes and ~11,500 meters of core (Hureau, 1981).

Gladiator has recently compiled a digital database containing 475 drill holes within the current and historical project boundaries. Many of the drill holes are historical in nature and lack documented modern QA/QC methods, chain of custody documentation, proper GPS collar locations and down hole surveying and would not meet the standard for a current NI 43-101 resource estimate. The more recent drilling, from 2007 onward appears to have been conducted in a much more systematic manner but significant amounts of core is currently in storage and needs to be logged, sampled and assayed.

The Company is planning an initial work program which would include data compilation and digitization of the historical drill logs, geological mapping, surface geochemistry and geophysical surveys. Additionally, approximately 10,000 m of diamond drill core will be logged and assayed. A 250-line km ground-based magnetics survey should be conducted over the south-eastern portion of the Project where a 2014 airborne survey was not completed. Targets generated from this work will guide a follow up diamond drilling program.

Transaction Summary

Pursuant to the terms and conditions of the Option Agreement, in order to exercise the Option the Company must:

(i) issue the Optionor an aggregate of 15,000,000 common shares in the capital of the Company (“Common Shares“), as follows:

  1. 1,000,000 Common Shares (the “First Share Issuance“) within five (5) business days of the Effective Date. For the purposes hereof, the “Effective Date” is the date that is three (3) business days following the TSX Venture Exchange’s (the “TSXV“) approval of the Company’s acquisition of the Option in accordance with the Option Agreement;
  2. 3,000,000 Common Shares on or prior to the one (1) year anniversary of the Effective Date;
  3. 5,000,000 Common Shares on or prior to the three (3) year anniversary of the Effective Date; and
  4. 6,000,000 Common Shares on or prior to the six (6) year anniversary of the Effective Date;

(ii) pay the Optionor an aggregate of $300,000 in cash, as follows:

  1. $25,000 within five (5) business days of the Effective Date;
  2. $50,000 on or prior to the one (1) year anniversary of the Effective Date;
  3. $100,000 on or prior to the three (3) year anniversary of the Effective Date;
  4. $125,000 on or prior to the six (6) year anniversary of the Effective Date; and

(iii) incur an aggregate of $12,000,000 in exploration expenditures (“Expenditures“) on the Whitehorse Copper Project, as follows:

  1. $1,500,000 of Expenditures by the one (1) year anniversary of the Effective Date;
  2. $4,500,000 of Expenditures by the three (3) year anniversary of the Effective Date; and
  3. $6,000,000 of Expenditures by the six (6) year anniversary of the Effective Date.

Following the completion of the Common Shares issuances, cash payments, and incursion of Expenditures set forth above, the Option will be deemed to have been exercised, and the Company will have earned all of the Optionor’s interest in the Whitehorse Copper Project. Following the exercise of the Option, the Company must pay the Optionor, or such other person(s) as the Optionor may direct from time to time, a 1.0% net smelter returns royalty on the Whitehorse Copper Project. Certain mineral claims forming part of the Whitehorse Copper Project are also encumbered by pre-existing royalties which the Company shall be responsible for following the exercise of the Option.

The Company has also (i) agreed to afford the Optionor a right of first refusal to undertake exploration or development programs on the Whitehorse Copper Project; (ii) granted the Optionor certain participation rights in future equity financings of the Company; and (iii) granted the Optionor the right to nominate one director to the Company’s Board of Directors, commencing one year following the Effective Date.

The Company’s acquisition of the Option constitutes a “Fundamental Acquisition” as defined in TSXV Policy 5.3 – Acquisitions and Dispositions of Non-Cash Assets. As such, completion of the Transaction is subject to approval by the TSXV and trading of the Company’s Common Shares has been halted. It is not anticipated that approval by the Company’s shareholders will be required. The Transaction is an arm’s length transaction. In connection with the Transaction, the Company will also pay a finder’s fee to an arm’s length finder in an amount equal to the maximum permitted under the policies of the TSXV, payable in Common Shares.

All Common Shares issued in connection with the Option will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities laws.

Stock Option Plan

The Company announces that its shareholders approved the Company’s new 10% rolling stock option plan at the Company’s Annual General Meeting held on August 11, 2022 of which there are currently 1,200,000 stock options issued.

Qualified Person

All scientific and technical information in this news release has been prepared or reviewed and approved by Derek Torgerson P.Geo, a “qualified person” for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects and Mr. Torgerson has confirmed that he has no objection to the technical information contained in this news release.

ON BEHALF OF THE BOARD

“Jason Bontempo“
Jason Bontempo
Director

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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Certain of the statements and information in this news release constitute “forward-looking statements” or “forward-looking information”. Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as “expects”, “anticipates”, “believes”, “plans”, “estimates”, “intends”, “targets”, “goals”, “forecasts”, “objectives”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions) that are not statements of historical fact may be forward-looking statements or information. Forward-looking statements or information relate to, among other things TSXV approval of the Company’s acquisition of the Option.

Forward-looking statements or information are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, the need for additional capital by the Company through financings, and the risk that such funds may not be raised; the speculative nature of exploration and the stages of the Company’s properties; the effect of changes in commodity prices; regulatory risks that development of the Company’s material properties will not be acceptable for social, environmental or other reasons; availability of equipment (including drills) and personnel to carry out work programs; and that each stage of work will be completed within expected time frames. This list is not exhaustive of the factors that may affect any of the Company’s forward-looking statements or information. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements or information.

The Company’s forward-looking statements and information are based on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by applicable securities laws, the Company does not assume any obligation to update forward-looking statements and information if circumstances or management’s assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements or information.

Not for distribution to United States newswire services or for release, publication, distribution or
dissemination directly, or indirectly, in whole or in part, in or into the United States.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144175

Categories
Base Metals Energy Junior Mining

Uranium’s October Optimism

BY JACOB WHITE | FRIDAY, NOVEMBER 11, 2022

Performance as of October 31, 2022

Asset1 MO*3 MO*YTD*1 YR
U3O8 Uranium Spot Price 18.32%7.57%24.12%17.30%
Uranium Mining Equities (Northshore Global Uranium Mining Index) 23.11%-3.30%-6.38%-18.44%
Commodities (BCOM Index) 31.67% -6.96% 14.30% 9.67%
 U.S. Equities (S&P 500 TR Index) 48.10%-5.87%-17.72%-14.63% 
U.S. Bonds  (Bloomberg Barclays US Agg Total Return Value Unhedged USD Index) 5-1.30%-8.23%-15.72%-15.68% 

Sources: Bloomberg and Sprott Asset Management LP. Data as of October 31, 2022.
*Performance for periods under one year not annualized.

October: Uranium Markets Brighten

Many asset classes rebounded in October following painful September drawdowns. The U3O8 uranium spot price climbed 8.32% in October, rising from $48.25 to $52.27 per pound. By comparison, the broader commodity markets gained just 1.67%. Among other asset classes, U.S. equity markets gained 8.10% as measured by the S&P 500 Index, and U.S. bond markets (Bloomberg US Agg Bond Index) lost ground on the back of rising inflation and the hawkish Federal Reserve. On a year-to-date basis, as of October 31, 2022, the uranium spot price climbed by 24.12%, making it one of the best-performing asset classes.

Uranium mining equities also posted positive results in October, with the Northshore Global Uranium Mining Index gaining 3.11% for the month. Miners’ overall results were impacted by the weakness in the stock price of index heavyweight Cameco Corp. (Cameco) following its announcement of a $US748 million stock sale to raise capital for its planned acquisition of Westinghouse Electric Company (Westinghouse) in partnership with Brookfield Renewable Partners (Brookfield Renewable). Year to date, uranium miners have lost 6.38%, which compares favorably to the year-to-date 17.72% drop in the S&P 500 Index.

Figure 1. Uranium Continues to Outperform in the Short Term (2020-2022)
This chart shows the relative outperformance of physical uranium and uranium mining equities over the past two years. 

Sources: Bloomberg and Sprott Asset Management. Data as of 10/31/2022.  Uranium miners are measured by the Northshore Global Uranium Mining Index; the U3O8  uranium spot price is measured by a proprietary composite of U3O8 spot prices from TradeTech LLC; commodities are measured by the Bloomberg Commodity Index (BCOM); U.S. equities are measured by the S&P 500 TR (SPX); U.S. bonds are measured by the Bloomberg Barclays US Agg Total Return Value Unhedged USD (LBUSTRUU Index); the U.S. dollar is measured by DXY Currency. Included for illustrative purposes only. Past performance is no guarantee of future results.

Energy Transition Gains Momentum

The International Energy Agency (IEA) released its 2022 World Energy Outlook in October, further underscoring the importance of nuclear energy and uranium in supporting the world’s energy transition away from its dependence on fossil fuels and in ensuring higher energy security. According to the IEA, “Russia’s invasion of Ukraine has sparked a global energy crisis”. Russian sanctions and geopolitical maneuvering have tightened the world’s energy supply and caused energy prices to spike, stoking inflationary pressures and heightening the risk of recession. This energy deficit has created an urgent catalyst to embrace alternatives to fossil fuels and supports our thesis that nuclear power will likely be pivotal to the global energy transition.

The IEA has increased its forecasts of nuclear power, reporting that it expects nuclear energy generation to grow 53% from 2021 to 2050 based on current stated government policies in place, 84% based on announced government targets and 109% on its net zero emissions by 2050 scenario. With nuclear energy’s generation potential to double by 2050, the uranium sector is likely poised to benefit.

Figure 2. Global Electricity Nuclear Supply by Scenario (TWh; Terawatt Hours)

Source: 2022 World Energy Outlook, International Energy Agency.

Positive Developments for Uranium Miners

On October 11, Cameco Corporation announced that it would form a strategic partnership with Brookfield Renewable Partners to acquire Westinghouse Electric Company.6 Brookfield Renewable will own a 51% interest and Cameco 49%. This acquisition marks the largest in recent history, with Westinghouse’s market capitalization of US$4.5 billion, not including debt, being nearly half of Cameco’s $9.8 billion market capitalization.7 Westinghouse operates as a downstream company providing nuclear operating plant services, designing and engineering new nuclear reactors and providing nuclear fuel services. The initial market reaction to the deal was negative, as Cameco’s stock slid 14% in response to the pricing terms of the bought deal stock sale. Cameco’s stock price recovered somewhat but remained down for the month. In our view, the acquisition is a healthy sign that the uranium industry is moving forward and is a vote of confidence from Cameco in the nuclear industry. The partnership represents a vertical integration across the uranium fuel supply chain that is likely to enhance Cameco’s ability to win new business.

The market reacted more favorably to Uranium Energy Corp’s completed acquisition of the Roughrider uranium development project from a subsidiary of Rio Tinto PLC, and Uranium Energy was the top-performing holding in the Northshore Global Uranium Mining Index for the month.8 Denison Mines Corp. (Denison) filed its environmental impact statement (EIS) on October 26.9 For Denison, this represents a crucial step in the permitting process to develop its Wheeler River uranium mine. NexGen Energy Ltd., another late-stage uranium developer, filed its EIS earlier this year.10

Energy Shortages and Rocketing Prices Support Uranium’s Bullish Outlook

In our view, the October performance of uranium mining equities does not reflect the sector’s strong underlying fundamentals. Year-to-date as of October 31, U3O8 spot, conversion and enriched uranium prices have all significantly appreciated for both short- and long-term purchase contracts. By contrast, uranium miners remain in negative territory, as they have been impacted by weakness in broad equity markets and rising interest rates. Despite this, we believe that strong demand for uranium conversion and enrichment, coupled with a shift away from Russian suppliers, supports a further increase in the U3O8 uranium spot price, which is ultimately supportive of uranium miners.

Cameco, for example, continues to report strong growth in its portfolio of long-term uranium contracts as utilities are accelerating uranium purchases. In 2019, pre-COVID, Cameco estimated that, from 2020 through 2024, it had commitments to deliver an average of 19 million pounds per year.11 In 2021, Cameco added 30 million pounds in contracts. This year, Cameco is projected to add 77 million pounds in contracts. In its recent Q3 earning report, Cameco announced it has “advanced contracting discussions for about 27 million pounds of long-term uranium business and 7.5 million kgU (kilograms of uranium) of conversion services from initiation to accepted.”  This is in addition to Cameco’s uranium year-to-date contracts of 50 million pounds of U3O8 and 7 million kgU of conversion. The uranium contracts are expected to be finalized over the next few months, underscoring Cameco’s belief that the uranium sector is in the early stages of the contracting cycle.

Uranium Demand is Strong

We believe that uranium demand will continue to gain momentum, as many countries are seeing record-high electricity prices going into high-demand seasons. In addition, the security of the supply of nuclear fuel is paramount, as national grids rely on baseload nuclear power for stability, utilities are focused on replenishing inventory levels to ensure access to fuel and fuel costs have a relatively small impact on the overall profitability of nuclear power plants; historically, uranium demand has not been price sensitive.

We believe the uranium bull market remains intact despite the negative macroeconomic environment. There has been an unprecedented number of announcements for nuclear power plant restarts, life extensions and new builds that are all creating incremental demand for uranium. However, the current uranium price remains below incentive levels to restart tier 2 production and greenfield development. Over the long term, increased demand in the face of an uncertain uranium supply may likely support a sustained bull market. For investors, uranium miners have historically exhibited low/moderate correlation to many major asset classes, potentially providing portfolio diversification.

Figure 3. Uranium Bull Market Continues (1968-2022)

Click to enlarge this chart.

Note: A “bull market” refers to a condition of financial markets where prices are generally rising. A “bear market” refers to a condition in financial markets when prices are generally falling. Source: TradeTech data as of 10/31/2022.

In closing, we continue to believe that physical uranium and uranium miners are well positioned to take share within the energy sector as energy security and decarbonization increase in importance. With the number of nuclear reactors planned to increase by 35%, governments are signaling the need to embrace the reliable, efficient, clean and safe energy produced by nuclear to meet ambitious decarbonization goals. At the same time, a uranium supply deficit remains entrenched and uranium miners may be the recipients of increased investment, which may in turn bring the market back into balance.

1The U3O8 uranium spot price is measured by a proprietary composite of U3O8 spot prices from UxC, S&P Platts and Numerco.
2The North Shore Global Uranium Mining Index (URNMX) was created by North Shore Indices, Inc. (the “Index Provider”). The Index Provider developed the methodology for determining the securities to be included in the Index and is responsible for the ongoing maintenance of the Index. The Index is calculated by Indxx, LLC, which is not affiliated with the North Shore Global Uranium Miners Fund (“Existing Fund”), ALPS Advisors, Inc. (the “Sub-Adviser”) or Sprott Asset Management LP (the “Adviser”).
3The Bloomberg Commodity Index (BCOM) is a broadly diversified commodity price index that tracks prices of futures contracts on physical commodities and is designed to minimize concentration in any one commodity or sector. It currently has 23 commodity futures in six sectors.
4The S&P 500 or Standard & Poor’s 500 Index is a market-capitalization-weighted index of the 500 largest U.S. publicly traded companies.
5The Bloomberg USAgg Index is a broad-based flagship benchmark that measures the investment grade, US dollar-denominated, fixed-rate taxable bond market.
6Source: Cameco and Brookfield Renewable Form Strategic Partnership to Acquire Westinghouse Electric Company.
7Source: Cameco pivots off volatile uranium market with big bet on Westinghouse.
8Source: PR Newswire: Uranium Energy Corp Completes Acquisition of the World-Class Development-Stage Roughrider Uranium Project From Rio Tinto.
9Source: Denison Announces Significant Regulatory Milestone for Wheeler River with Submission of Environmental Impact Statement.
10Source: NexGen Environmental Assessment (EA) for the Rook I Project (Project).
11Source: Cameco Corporation 2019 Annual Report.

Jacob White
Jacob White
Senior Analyst, Sprott Asset Management LP

IEA World Energy Outlook 2022

“The global energy crisis provides a short‐term boost to demand for oil and coal as consumers scramble for alternatives to high-priced gas. But the lasting gains from the crisis accrue to low‐emissions sources, mainly renewables, but also nuclear, alongside faster progress with efficiency and electrification, e.g., electric vehicles.”

Sprott Physical Uranium Trust (TSX: U.UN)

U.UN icon

Learn more

Sprott Uranium Miners ETF (NYSE Arca: URNM)

URNM icon

Learn more

Sign-Up Now: 
Insights from Sprott

More Uranium Insights

Important Disclosure

Past performance is no guarantee of future results. You cannot invest directly in an index. Investments, commentary and statements are that of the author and may not be reflective of investments and commentary in other strategies managed by Sprott Asset Management USA, Inc., Sprott Asset Management LP, Sprott Inc., or any other Sprott entity or affiliate. Opinions expressed in this commentary are those of the author and may vary widely from opinions of other Sprott affiliated Portfolio Managers or investment professionals.

The information contained herein does not constitute an offer or solicitation to anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Prospective investors who are not resident in Canada or the United States should contact their financial advisor to determine whether securities of the Funds may be lawfully sold in their jurisdiction.

The information provided is general in nature and is provided with the understanding that it may not be relied upon as, nor considered to be, the rendering or tax, legal, accounting or professional advice. Readers should consult with their own accountants and/or lawyers for advice on their specific circumstances before taking any action.

© 2022 Sprott Inc. All rights reserved.

Categories
Collective Mining Energy Junior Mining Precious Metals Uncategorized

Collective Mining Receives Formal Recognition from the Municipality of Marmato for its Social Management Programs in the Region

TORONTO, Nov. 14, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that the Mayor’s office of Marmato has formally acknowledged Collective Mining’s social activities and efforts within the municipality. Known as “Resolution 520, 2022”, the municipality expresses its gratitude for the contributions to the development of social, economic and governance matters since the Company’s arrival in 2020.

(CNW Group/Collective Mining Ltd.)
(CNW Group/Collective Mining Ltd.)

The township of Marmato, which is located in the department of Caldas, is one of the most historic and significant gold and silver mining regions in the western hemisphere of the world with continuous production beginning more than 500 years ago. Collective Mining’s Guayabales project is located in the heart of this long-established mining camp which has 10 fully permitted and operating mines located within a three kilometres radius of the project.

Since Collective Mining’s arrival to Marmato in 2020, the Company has focused on aligning itself with the municipality’s “Development Plan” by cooperating with initiatives that are relevant for the community and region. These efforts have included the improvement of rural roads, providing technical proficiency to Marmato’s coffee growers, protecting local water sources, monitoring and improvement of the aqueducts in the municipality and establishing beekeeping projects.

“Collective is a company that listens to the communities and embraces the needs of our municipality. From day one, they have supported us in our Development Plan. We wish to highlight that the Company always brings with it great respect for our communities. That is why, today, we can ratify this formal recognition proving it is possible to work hand in hand with a private company,” said Yesid Castro, Mayor of Marmato.

“Since our arrival to the region, our goal was to add value to local communities while advancing our efforts in making the next major discovery in Colombia. Since inception, our Company has been committed to a “Collective” approach to the development of projects, working alongside local government and communities to help develop our ESG initiatives. This recognition, coupled with our multiple geological discoveries are evidence that we are on the right track. We wish to express our gratitude to the local communities and to the Mayor and his team for allowing us to bring value and work alongside the citizens of Marmato,” commented Omar Ossma, President and CEO of Collective Mining.

About Collective Mining Ltd.

To see our latest corporate presentation and related information, please visit www.collectivemining.com.

Founded by the team that developed and sold Continental Gold Inc. to Zijin Mining for approximately $2 billion in enterprise value, Collective Mining is a copper, silver and gold exploration company based in Canada, with projects in Caldas, Colombia. The Company has options to acquire 100% interests in two projects located directly within an established mining camp with ten fully permitted and operating mines.

The Company’s flagship project, Guayabales, is anchored by the discovery of the “Main Breccia” at the Apollo target in June 2022, which is a large bulk-tonnage, and high-grade copper, silver and gold porphyry-related hydrothermal breccia system. The Company’s near-term objective is to continue expanding the size of the Main Breccia discovery through step-out drilling while simultaneously increasing confidence in the highest-grade portions of the system.

Management and insiders own nearly 35% of the outstanding shares of the Company and as a result, are fully aligned with shareholders. The Company is listed on the TSXV under the trading symbol “CNL” and on the OTCQX under the trading symbol “CNLMF”.

FORWARD-LOOKING STATEMENTS

This news release contains certain forward-looking statements, including, but not limited to, 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.

SOURCE Collective Mining Ltd.

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/November2022/14/c7959.html

Categories
Junior Mining

Kesselrun Resources Climbs 50% in Three Days

I wrote a piece a few days back listing ten exceptionally low market cap stocks selling for less than $.05 a share. Kesselrun Resources (KES-V) was one. They closed on November 2 at $.03 a share. I had picked a lot up at that price believing they were perfectly positioned to ride the bull rally we are in to a much higher price.

The yearly low was $.02 a few weeks ago on September 29th. At that price the company had less than a $2 million market cap while still sitting on over $1 million in cash. That was a week after the company released exceptional results on the 22nd. Those assays ran as high as 14.4 g/t Au over 11 meters within a 124.0-meter intercept averaging 1.8 g/t Au. Frankly I bought because I saw almost no risk. I have believed for two months that we are at a major low in the metals and resource stocks.

The more I looked into the company the more I liked it. The Huronian project has a past producing high-grade gold mine and a historic resource of 546 thousand ounces of gold at just below a half-ounce to the tonne. Kesselrun has 100% ownership of the 4600 ha land package located in the mining friendly province of Ontario.

But it gets even more attractive. The company has drilled another 7200 meters in their 32 hole 2022 drill program still to be released. Frankly the Canadian and US assay labs have failed to keep up with the increased demand after the Covid hoax ended and have cost investors billions of dollars. How can you invest wisely if drill results are not released until many months of shareholder boredom? I’m told by company management that all 32 holes “should” be out before the end of November. I’ll believe it when I see it, the assay labs are really screwing their clients.

There is other interesting news of possible significance to Kesselrun’s 2023 drill program. The company finished a NuTEM and magnetics survey in the summer. The purpose is to deliver “3D subsurface voxel models of the survey area.” If you are not fully conversant with what a voxel model is, don’t worry about it. I’m not either but I am certain they are important.

The company has another 100% owned 8900 ha project they call Bluffpoint. It’s an early stage granite hosted system similar to that of the Rainey River Gold mine some 50 km down strike that produced 250,000 ounces a year at 1.1g/t Au.

At today’s price the company still has a market cap of under $5 million. It was cheap at below $2 million and is still cheap. The shorts are creeping higher in the anticipation of a private placement in the near-term but I suspect they have gotten a little too cute and may get mousetrapped. We have seen the bottom. Gold has climbed right at $100 an ounce in the last three days. It’s going to go a lot higher when retail investors begin to understand that when your ship comes in you don’t want to be out at the airport.

With the quality of ounces KES has in their historic resource and jurisdiction, their gold should be worth $40 to $100 an ounce. That would value the company at $22 million to $55 million. The company is an easy ten bagger and the 32 holes that should be released in the next three weeks should be the icing on the cake.

Kesselrun is going to advertise. I have bought shares in the open market. Do your own due diligence, I am biased.

Kesselrun Resources Ltd
KES-V $.045 (Nov 09, 2022)
KSSRF OTCBB 93.7 million shares
Kesselrun Resources website

###

Bob Moriarty
President: 321gold
Archives

321gold Ltd

Categories
Gold Shore Resources Junior Mining

Goldshore Resources Inc. Invitation to Deutsch Goldmesse

Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Goldshore Resources Inc (TSXV: GSHR) will be participating in the Deutsche Goldmesse, which will take place on November 18th and 19th at The Westin Grand Frankfurt.

Members of the Goldshore Resources Inc management will be taking meetings throughout the day, and also present at 01:45pm CET on November 19th to an audience of European investors.

An online registration form is available, and investors can register to attend at: https://deutschegoldmesse.online/investor-registration/.

Kai Hoffmann, Managing Director of Soar Financial Partners, remarked, “We are excited to host our 3rd in-person premier mining investment event, bringing together carefully selected mining and exploration companies with the European investment community over the course of two days. We anticipate this to be our largest conference yet, and we are pleased to welcome again an astute line-up of keynote speakers.”

The Deutsche Goldmesse website is continuously being updated concerning attending companies, keynote speakers, agenda, etc.: www.deutschegoldmesse.com

About Goldshore Resources Inc

Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00F)Goldshore is an emerging well-financed junior gold developer, who acquired the Moss Lake Gold Project (Ontario, Canada) from Wesdome Gold Mines Ltd. In January 2021. The Moss Lake Project has a historical resource of c.1.5M oz Indicated and c.2.5M oz. Inferred and is conducting an extensive exploration strategy, including a 100,000m drilling program. As well, The Moss Lake Project has a historical copper mine (North Coldstream Mine) on its land package (operated by Noranda/Xstrata – 1954-1992), and significant other copper/gold targets to be tested going forward. Goldshore’s Moss Lake Project holds a large land package in North-western Ontario. The project displays significant resource potential, as Goldshore takes the project through its next stages of exploration and development, towards an updated mineral resource estimation (MRE) in Q4 2022; followed by updated preliminary economic assessment (PEA) in Q1 2023 and visibility towards feasibility study (FS) thereafter.

About Deutsche Goldmesse

Deutsche Goldmesse is Germany’s premier mining investment conference, based out of Frankfurt – one of Europe’s most important financial capitals. We bring together leading minds in the industry to foster new business opportunities and facilitate valuable relationships. The exclusive two-day event showcases industry-leading keynote speakers and up to 35 carefully considered companies in a range of commodities and stages from explorers to producers.

Hosted by Soar Financial Partners, we provide a platform where top company management can connect with a vast network of European institutional and HNW investors, retail investors, analysts, influencers, newsletter writers, media, and other local partners.

For further information:
Goldshore Resources Inc
Brett A Richards
Chief Executive Officer
19054491500
brett@brettrichards.org
www.goldshoreresources.com

Categories
Junior Mining Precious Metals

Provenance Completes NI 43-101 Technical Report on Its Eldorado Gold Property

Vancouver, British Columbia–(Newsfile Corp. – November 8, 2022) – Provenance Gold Corp. (CSE: PAU) (OTCQB: PVGDF) (the “Company” or “Provenance“) is pleased to announce that a NI 43-101 technical report has been filed on SEDAR for its Eldorado gold property in Malheur County, Oregon. The purpose of this report was to form a baseline for the property, which will be expanded further in 2023 following a confirmation drilling program planned by the Company. Eldorado has a historic drill hole database consisting of 242 drill holes that have outlined a large shallow open-ended gold system. This historical database is currently not sufficient as the basis for developing a current mineral resource, but work is underway to verify and bring current the historical data.

In 1990 the first mineral inventory was calculated by Pincock, Alan and Holt (PAH) a reputable engineering firm that was used industry wide for this type of work. PAH modeled 158 of the historic drill holes which identified approximately 52,896,000 tons that graded 0.578 g/t gold (0.0169 oz/t gold) at a cut-off of 0.274 grams per ton (0.008 oz/t) in the completely open-ended gold system. The Company is aware of a second historical resource estimate that was calculated by ICAN Minerals and a further projected resource estimate by ICAN from work completed between 1989 and 1997 where the tonnage and grade were substantially higher. The Company is not treating any of these estimates as current mineral resources and a qualified person has not done sufficient work to classify the estimates as current mineral resources. The estimates were prepared prior to the enactment of National Instrument 43-101 and should not be relied upon for investment decisions. The purpose of presenting this information is to show that the Eldorado property has potential to hold a large mineral inventory. Provenance plans to update these historical estimates into a current resource model. Near term work includes confirmation drilling by twinning a number of the historic holes, certifying and comparing assays between the old and new holes, validating all historic holes in the field with a GPS and confirming historic metallurgical test results. When the Company is comfortable with these upgrades in compliance, then a new stand-alone current resource can be calculated. Other than these, the Company is not aware of any more recent estimates prepared for the property.

Within the Eldorado mineralized area there are many higher-grade zones. For example, as quoted from the NI 43-101 report, ICAN Minerals’ hole R-96-C-1 intersected 1.51 g/t gold (0.0441 oz/t gold) over 196.9 meters (646 feet). The estimate predates and does not comply with current CIM Definition Standards but illustrates that the gold system is large and extends to depth, not just in area.

Examples of High Gold Intercepts in Some Drill Holes

Hole #From/To (m)Thickness (m)g/t Gold
(0.1 g CO)		High Assay
R-13622.9-157134.12.08 g
including111.3-150.839.65.0 g
including126.5-129.5330.48 g44.19 g
R-900-67673.23 g
including48.7-65.516.79.63 g40.5 g
R-260-70.1701.47 g36.0 g
R-13721.3-44.221.32.21 g24.9 g
Hole #From/To (ft)Thickness (ft)oz/t Gold
(0.1 ppm c/o)		High Assay
R-13675 to 5154400.06 opt
including365-4901300.147 opt
including415-425100.891 opt1.29 opt
R-900-2202200.094 opt
including160-215550.28 opt1.17 opt
R-260-2302300.043 opt1.05 opt
R-13770-145700.065 opt0.73 opt

Eldorado Geology and Historic Drill Holes


Figure 1

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5654/143445_2f70f5f1047f0b76_001full.jpg

As stated within this new technical report:

“The Eldorado magmatic/hydrothermal system is interpreted as a classic porphyry gold system. Gold is found in veinlets, stockworks, fractures, and hydrothermal breccias. Mineralization is controlled by both strong fracture development and pyrite veining coincident with gold mineralization. Pyrite veining, or its oxidized equivalent, is common throughout all of the drill holes.”

The historic metallurgical work suggests the gold is largely recoverable by standard methods. Dawson Metallurgical Laboratories and Mountain States R&D International conducted metallurgical tests that were encouraging, and these tests will be duplicated using material obtained from the upcoming drill program.

“Dawson composited five unoxidized sulfide-bearing samples into a 13.15 kg test sample that assayed 1.233 g/t gold (0.036 oz/t gold). Pyrite was found to be the most common sulfide. Approximately 90% of the gold was recovered by two-stage gravity-flotation. Significant free gold was observed in both the gravity and flotation concentrates.”

Additionally.

“The Mountain States laboratory conducted a series of bottle-roll tests on composite sulfide samples from the Property. Three composite test samples yielded recoveries on unground rock that yielded 71%, 76%, and 77% recoveries. Grinding increased the recoveries to 92%, 86%, and 83%.”

Based on Historic Metallurgy, Gold in Both the Oxidized Rock (yellow) and Unoxidized Rock (grey) is Readily Recoverable by Conventional and Even Non-Chemical Methods



Figure 2

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5654/143445_2f70f5f1047f0b76_002full.jpg

After review of the historic drilling and after surface inspection of the Eldorado Property, Provenance believes the gold system is open to expansion in all directions and will also expand with in-fill drilling. The Company believes that the area of mineralization extends far beyond initially thought, and the surface mineralization expands even further.

Steve Craig, Project Manager states, “With future drilling programs, this project will grow with step-out and infill drilling. Even in the central area, some major mineralized areas remain partially drilled. An important early additional plus is that the historic metallurgy by reputable laboratories indicated the gold is mostly recoverable even in the sulfide zone, by gravity and flotation in addition to standard chemical extraction. This is because the gold appears to have come in after the pyrite, so it’s exposed and accessible to recovery. This is unusual and very fortunate.”

The report concludes that the favorable geological setting of the Property, as well as mineralization intersected in historic drill programs indicate the presence of porphyry style gold mineralization at the Eldorado Property. Based on Mr. Gibson’s site inspection, as well as the authors’ review of historic and recent work completed at the Property, it is the opinion of the authors of this Report that the Eldorado Property is a property of merit that warrants future exploration.

As a result, the authors recommend a staged exploration program for the Property, with Phase 2 exploration being dependent on the results of Phase 1.

The Company will report on its next steps for advancing the Eldorado Property within the coming weeks. The Company has now submitted all the final permitting documents requested and required by DOGAMI, to finalize the review process. The Company is unaware of any further issues likely to arise and has been told that no further information will be required to complete the permit. Site visits to the property have identified additional areas of obvious surface mineralization. Based on these studies, the Company wants to expand the currently planned drilling to include some of these areas inside and outside the historically drilled area. The Company plans to conduct its initial drilling program in the Spring to allow use of the new information to help guide exploration of these undrilled areas and to take advantage of more favorable weather. More will be reported on these newly recognized mineralized areas in the very near future.

NI 43-101 Technical Report

An NI 43-101 Technical Report (the “Report”) entitled “Technical Report on the Eldorado Property, Malheur County, Oregon ” has been completed and filed on behalf of the Company. The report was completed by Michael Dufresne, M.Sc., P.Geol., P.Geo. of Apex Geosciences Ltd. and Jodie Gibson, M.Sc., P.Geo. with an effective date of October 20, 2022. The report was prepared to provide an independent evaluation of the exploration potential of the Eldorado Property. The Report has been posted on the Company’s website and is available on SEDAR.

Qualified Person

Steven Craig, CPG, an independent consultant and qualified person as defined under National Instrument 43-101, has reviewed and approved the technical contents of this news release.

About Provenance Gold Corp.

Provenance Gold Corp. is a precious metals exploration company with a focus on gold and silver mineralization within North America. The Company currently holds interests in three properties, two in Nevada, and one in eastern Oregon, USA. For further information please visit the Company’s website at https://provenancegold.com or contact Rob Clark at rclark@provenancegold.com.

On behalf of the Board,
Provenance Gold Corp.
Rauno Perttu, Chief Executive Officer

Neither the Canadian Securities Exchange, nor its regulation services provider, accepts responsibility for the adequacy or accuracy of this press release. This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When or if used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target, “plan”, “forecast”, “may”, “schedule” and similar words or expressions identify forward-looking statements or information. Such statements represent the Company’s current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affecting such statements and information other than as required by applicable laws, rules and regulations.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/143445

Categories
Energy Junior Mining Precious Metals

Dolly Varden Silver Intersects 1.50m of 1,367 g/t Ag within 12.51 meters Grading 442 g/t Ag at Kitsol Vein

Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce results from drilling at the Torbrit Resource area, including infill and step-out drilling within the Kitsol Vein zone.

The high-grade, potentially bulk-mineable Kitsol Vein continued to deliver outstanding, contiguous silver and base metal mineralization, where DV22-291 intersected 12.51m (8.88m true width) averaging 442 g/t Ag, 0.68% Pb and 0.42% Zn, including of 1,367 g/t Ag over 1.50m (1.07m true width), as an up-dip infill hole from previous high-grade intercepts.

Highlights include:

  • DV22-289: 979 g/t Ag over 0.49 meters true width, step out at Torbrit Main
  • DV22-291: 442 g/t Ag over 8.88 meters true width, infill at Kitsol
  • DV22-298: 372 g/t Ag over 10.78 meters true width, up-dip extension at Kitsol
  • DV22-308: 297 g/t Ag over 6.59 meters true width, step out at Torbrit Main
  • DV22-312: 585 g/t Ag over 3.30 meters true width, step out at Torbrit Main

“In addition to discovery-focused exploration drilling, Dolly Varden Silver has been prioritizing resource expansion and upgrading at the Torbrit/Kitsol, Wolf, Homestake Main and Homestake Silver deposits. We continue to encounter wide, potentially bulk-mineable vein-hosted silver mineralization at Kitsol, and expect to announce significant drill results from the other resource areas in the next few weeks,” said Shawn, Khunkhun, President and CEO.

The 2022 exploration drill program on the Kitsault Valley trend has completed 37,061m in 108 drill holes. Drilling wrapped up in mid-October, with the majority of assays still pending. Additionally, ground geophysics, surface mapping and prospecting work were completed, evaluating historic prospects and identifying new silver and gold occurrences.

Torbrit Main and North Deposits consist of distinctive stratabound silver mineralization associated with a high potassium and coincident sodium depletion alteration signature. Layers consist of red jasper with bladed crystal growths after barite later replaced by silica. Relatively quick capping of the system by volcanic activity caused an overprinting of epithermal brecciation and veining which further augmented the silver grades within the deposit area.



Figure 1. Drill hole DV22-308 from Torbrit Main showing typical red jasperoid stratabound mineralization with epithermal overprint carrying higher silver grades

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_002full.jpg.

The main focus of Torbrit step out drilling at the Torbrit Main Deposit targeted the southern limits of the current Mineral Resource. Drill holes were oriented to step-out from, as well as infill areas of modelled inferred resources (see Figure 3). The Torbrit horizon was intersected in all expansion holes; future infill drilling programs will target high grade shoots within the lower grade horizon, which were commonly encountered in historic mining at the Torbrit, Wolf and Dolly Varden deposits.



Figure 2. Location along the Kitsault Valley trend

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_003full.jpg.

The Kitsol Vein is considered part of the epithermal, structurally controlled system that over printed the stratabound layers. Mineralization consists of pyrargerite (ruby silver), argentite and native silver in a silica breccia vein system. The northeast/southwest orientation of the vein and nature of the high grade silver plunge is similar to what is developing at the Wolf deposit 1.4km to the north (see figure 2).

Drilling during the 2022 season at Kitsol has encountered wide, high grade silver mineralization, commonly with overprinting high-grade vein shoots within wide vein sets. Previously reported step-out drill hole DV22-283 that intersected 50.18m (~30.0m true width) averaging 414 g/t Ag (see news release August 10, 2022) suggest multiple high-grade, steeply plunging yet wide silver shoots that extend to surface, as demonstrated by up-dip hole DV22-298 which intersected 21.55m (10.78m true width) grading 372 g/t Ag (see Figure 5). Additional results from step-out drill holes testing deeper, down plunge mineralization from DV22-283 at the Kitsol Vein are pending.



Figure 3. Plan map, Torbrit Resource Area with 2019 resource block model. Yellow/orange blocks indicates targeted expansion areas of Inferred and exploration potential respectively.

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_004full.jpg.



Figure 4. Geological Cross Section (A-B) of southern Torbrit deposit with 2019 modelled mineralized envelope in red and 2022 drilling with mineralized intercepts as pink lithology

To view an enhanced version of Figure 4, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_005full.jpg.



Figure 5. Kitsol vein long section highlighting six 2022 infill and expansion drill holes that define a steep plunge to high-grade silver mineralization. Section view looking Northwest.

To view an enhanced version of Figure 5, please visit:
https://images.newsfilecorp.com/files/1728/143231_102a401624b57ac9_006full.jpg.

Table 1. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).

Hole IDFromToCore
Length
(m)		True
Width
(m)*		Ag
(g/t)		Pb
(%)		Zn
(%)		Au
(ppm)		AgEq**
(g/t)
DV22-282
(Kitsol)		175.38179.053.672.832100.480.110.04232
DV22-284111.33112.971.641.31500.586.10NSV299
and114.43115.511.080.861290.161.45NSV189
and125.32128.853.532.82270.113.440.06165
DV22-286
(Kitsol)		173.54174.500.960.581410.810.550.15200
and177.00183.956.954.171880.240.160.09209
including178.80179.530.730.444480.150.180.16473
including181.92182.420.500.305640.290.110.39609
DV22-287176.00177.001.000.90NSVNSV1.69NSV64
DV22-28911.4912.000.510.499790.370.16NSV996
DV22-291
(Kitsol)		120.19132.7012.518.884420.260.31NSV462
including120.19120.720.530.381441.211.330.05236
including125.50127.001.501.0713670.220.17NSV1380
DV22-29019.2119.940.730.704060.170.13NSV416
DV22-292NSV
DV22-29388.3491.803.463.431360.050.02NSV138
including90.7791.801.031.021660.080.03NSV170
DV22-295
(Kitsol)		145.90152.006.103.481450.850.36NSV185
including147.40151.003.602.051660.230.33NSV186
and240.50241.000.500.292300.020.010.01232
DV22-298
(Kitsol)		25.4547.0021.5510.783720.680.42NSV409
including27.7934.566.773.397851.590.64NSV858
including27.2528.851.600.805175.482.40NSV777
including29.5030.501.000.5010540.500.21NSV1077

*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 1 con’t. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).

Hole IDFromToCore
Length
 (m)		True
Width
(m)*		Ag
(g/t)		Pb
(%)		Zn
(%)		Au
(ppm)		AgEq**
(g/t)
DV22-29681.0082.251.250.891191.150.27NSV165
and85.0588.503.452.451301.310.41NSV186
and90.0091.001.000.71981.280.35NSV151
and108.40115.607.205.11601.440.67NSV130
and124.25125.401.150.822740.050.43NSV292
DV22-297NSV
DV22-29919.4523.003.553.121660.030.06NSV169
and30.5031.000.500.445173.160.09NSV618
and52.3552.830.480.422672.290.07NSV341
and74.7375.480.750.662420.260.10NSV254
and107.12112.004.884.291680.150.50NSV192
and122.87123.530.660.581990.250.19NSV214
DV22-301127.50129.001.500.663700.550.15NSV393
and163.30164.160.860.381530.260.200.01168
including173.16173.950.790.352350.220.16NSV248
DV22-303150.91154.853.943.433250.420.060.30340
DV22-305157.00159.262.262.211680.210.05NSV176
and170.05170.550.500.492830.050.02NSV285
DV22-306114.00117.413.413.411320.400.640.01170
and119.00123.504.504.501660.120.560.02193
and148.00151.443.443.441910.060.030.01194
and155.00159.004.004.001450.180.090.01155
DV22-308146.18154.528.346.592971.250.47NSV354
including149.75152.282.532.007731.290.68NSV839
DV22-309126.62128.581.961.841930.480.030.01210
DV22-310NSV
DV22-31260.0063.303.303.305850.020.06NSV588
including60.0061.131.131.1310500.020.06NSV1053
and105.25108.623.373.371590.130.04NSV165
DV22-31380.0081.101.101.101580.010.30NSV169
and105.00106.671.671.671600.300.09NSV173

*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths
**AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn

Table 2. Drill hole locations.

Hole IDZoneEasting
UTM83 (m)		Northing
UTM83 (m)		Elev. (m)AzimuthDipLength
 (m)
DV22282Kitsol4675436172134404118-45214.00
DV22286Kitsol467543617213440490-58438.00
DV22284Torbrit467833617163934928-59472.35
DV22287Torbrit467833617163934928-88215.00
DV22289Torbrit468026617133435250-6890.00
DV22290Torbrit468026617133435250-69165.00
DV22291Kitsol4675716172168394100-50300.00
DV22295Kitsol4675716172168394100-60339.00
DV22292Torbrit468040617128735855-45129.00
DV22293Torbrit468405617130964970-50137.00
DV22296Torbrit468405617130964945-65150.00
DV22297Torbrit468405617130964945-80201.00
DV22299Torbrit468405617130964915-50183.00
DV22298Kitsol4676276172140371115-65121.00
DV22301Torbrit468330617140564345-82237.00
DV22303Torbrit4683266171329605120-83216.00
DV22305Torbrit4683266171329605200-80216.00
DV22306Torbrit468221617139054945-55216.00
DV22308Torbrit468221617139054950-80219.00
DV22309Torbrit468228617126352235-60177.00
DV22310Torbrit468228617126352235-78201.00
DV22312Torbrit468320617121656845-58150.00
DV22313Torbrit468320617121656845-75150.00

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 and a 500 gram split is pulverized to minus 200mesh. 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 determined by Fire Assay on a 30g split.

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/143231

Categories
Base Metals Energy Junior Mining Metallic Group Metallic Minerals Precious Metals

Stillwater Critical Minerals Applies for Warrant Extension

VANCOUVER, BC / ACCESSWIRE / November 4, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that were due to expire November 21, 2022 (the “Warrants”). Per the application, 5,233,824 Warrants that were originally issued as part of a financing completed in November 2019 (see news release dated November 21, 2019) will be extended to a new expiration date of May 21, 2023. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.25.

About Stillwater Critical Minerals Corp.

Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the ongoing production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update now in progress based on a 14-hole expansion drilling campaign.

Stillwater Critical Minerals also holds the high-grade Drayton-Black Lake Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario. Drayton-Black Lake is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Michael Rowley, President, CEO & Director
Email: info@criticalminerals.com
Phone: (604) 357 4790
Web: http://criticalminerals.com
Toll Free: (888) 432 0075

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

SOURCE: Stillwater Critical Minerals Corp.



View source version on accesswire.com:
https://www.accesswire.com/724042/Stillwater-Critical-Minerals-Applies-for-Warrant-Extension