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Base Metals Energy Granite Creek Copper Junior Mining Metallic Group

Granite Creek Copper Identifies New, High-Priority Resource Expansion Targets at Carmacks Copper-Gold-Silver Project in Yukon Canada

VANCOUVER, BC / ACCESSWIRE / November 21, 2022 / Granite Creek Copper Ltd. (TSXV:GCX | OTCQB:GCXXF) (“Granite Creek” or the “Company“) is pleased to announce results from an Induced Polarization (“IP”) survey conducted on the Company’s 100%-owned Carmacks copper-gold-silver project (“Carmacks” or the “Deposit”) in the Minto Copper District of central Yukon, Canada. The large, highly prospective, potential resource expansion targets identified adjacent to or near the proposed open pits warrant follow-up exploration in upcoming campaigns. The Company further announces it has closed the second and final tranche of the private placement financing described in a news release dated October 5, 2022.

President & CEO, Tim Johnson, stated, “These multiple new zones and targets adjacent to the conceptual open pits, as defined by the March NI 43-101 Mineral Resource Estimate update, further highlight the prospectivity of our Carmacks project. Our team continues to do excellent work at Carmacks and we are confident in our ability to expand known mineralization and make new discoveries in the lesser explored parts of the 176km2 project. The current focus is the completion of the upcoming PEA and we look forward to reporting on the robust economics of the Carmacks project in the near term.”

Survey Overview

The first survey line (Line 1100S) was conducted over Zone 147 to investigate the correlation between known copper sulphide mineralization and the chargeability response from the Simcoe Geophysics deep-penetrating IP survey (see Figure 2 below). Subsequent survey lines were conducted over near-deposit target areas.

The results of the survey were enhanced by Resistivity Scaled Chargeability (“RSC”). RSC is a ratio of chargeability to resistivity (electrical properties measured by the IP survey) with the applied ratio determined by comparing various ratios to known mineralized bodies. The well-defined Zone 147 was used as a model to determine the RSC ratio that best fit the known mineralization. (See Figure 4 below).

Figure 1 – Carmacks Copper-Gold Project Location

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Figure 2 – Location of 2022 Simcoe IP Lines

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Select Results

Line 1100S, surveyed over defined sulfide copper mineralization in Zone 147, established a model for the RSC response and identified a new zone ~920 meters to the west. This new zone, named the Sourtoe Zone, extends 200m south to Line 1300S. This zone has been investigated with soil samples and trenching, exposing visually mineralized material close to surface (results pending). The soils and trenching were designed to evaluate the geochemical and geological signatures of this near-surface IP response and their similarities to known mineralized zones.

Figure 3 – 2022 IP Survey Line 1100S

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Line 1300S shows a potential continuation of the Sourtoe Zone, giving the zone a minimum of 200m strike length as well as a new, deeper target, the 147 Deep Target, several hundred meters below the proposed 147 pit.

Figure 4 – 2022 IP Survey Line 1300S

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Line 1500S, designed to test the gap area between zones 2000 and 147 (the “Gap Zone”), was successful in identifying a significant anomaly that is offset to the west from both zones. 3D modeling of historic drilling shows that this target has not been drill tested and could represent a southern extension of the 147 zone. The Gap Zone Target is a top candidate for additional near-deposit exploration (See figure 4). Additionally, a new, deeper target area that appears on this line and extends to line 1700S has been identified as the 58 Target.

Figure 5 – 2022 IP Survey Line 1500S

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Line 1700S, located 200m south of Line 1500S, shows the probable Gap Zone Target continuing southwards towards Zone 2000 as well as the newly identified 58 Target. Additionally, a shallow anomaly east of the proposed pit is identified as a possible continuation of Zone 4 proximal to the 147 pit.

Figure 6 – 2022 IP Survey Line 1700S

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Line 3300S, the southern most line completed in this survey highlights the potentiality of the area underneath the proposed 1213 pit. Additionally, an anomaly on the western portion of the line has been identified as 1213 west target for further follow up. With the current pit design bottoming out at 180 meters there remains significant room to grow the resource in this area. Additional lines on 200m spacing over the 1213 area are planned for subsequent geophysical campaigns to further define the zone.

Figure 7 – 2022 IP Survey Line 3300S

Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture
Granite Creek Copper Ltd., Monday, November 21, 2022, Press release picture

Closing of Second Tranche of Private Placement

The Company announces the completion of the previously announced private placement offering which has raised aggregate proceeds of $148,700 through the issuance of a total of 1,142,667 non-flow-through units and 572,727 flow-through shares (the “Offering”). The Offering remains subject to the final approval of the TSX Venture Exchange.

The Company issued XX flow-through shares (“FT shares”) at a price of $0.11 per share, to raise proceeds of $XX to incur Canadian Exploration Expenses (“CEE”) under the Income Tax Act (Canada). The Company issued a total of XX units at a price of $0.075 with each unit consisting of one common share of the Company and one warrant (a “Warrant”), with each Warrant allowing the holder to purchase one common share of the Company at a price of $0.10 per share for twenty-four months from the Closing Date of the Offering.

The Shares are subject to a hold period of four months and one day from issuance in accordance with applicable securities laws and the policies of the TSX Venture Exchange. The Shares have not been, and will not be, regis-tered under the U.S. Securities Act or any U.S. state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons, absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.

The Company has agreed to pay finders’ fees totalling of $13,259 in cash or shares on a portion of the Private Placement and to issue 127,042 finder warrants. Each finder warrant is exercisable into one common share of the Company at a price of $0.10 per share for a period of 24 months from the date of closing.

The Offering constitutes a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), as insiders of the Company subscribed for an aggregate of 600,001 units for proceeds of $48,500.08. The Company relied on the exemptions in Section 5.5(b) – Issuer Not Listed on Specified Markets from the formal valuation requirements of MI 61-101 and relied on the exemption in Section 5.7(1)(a) – Fair Market Value Not More Than 25 Per Cent of Market Capitalization from the minority shareholder approval requirements of MI 61-101. The Company did not file a material change report at least 21 days before the expected closing date of the Offering as the aforementioned insider participation had not been confirmed at that time and the Company wished to close the Offering as expeditiously as possible.

Qualified Persons

Ms. Debbie James, P.Geo., a qualified person for the purposes of National Instrument 43-101, has reviewed and approved the technical disclosure contained in this news release. Ms. James is a Senior Geologist with TruePoint Exploration and a Project Manager at Carmacks.

About Granite Creek Copper

Granite Creek, a member of the Metallic Group of Companies, is a Canadian exploration company focused on the 176km2 Carmacks project in the Minto copper district of Canada’s Yukon Territory. The project hosts a National Instrument 43-101 compliant mineral resource estimate consisting of 36.2 million tonnes grading 0.81% Cu, 0.31 g/t Au and 3.41 g/t Ag on trend with Minto Metals’ high-grade Minto copper-gold mine and features excellent access to infrastructure with the nearby paved Yukon Highway 2, along with grid power within 12 km. More information about Granite Creek Copper can be viewed on the Company’s website at www.gcxcopper.com.

FOR FURTHER INFORMATION PLEASE CONTACT:

Timothy Johnson, President & CEO

Telephone: 1 (604) 235-1982
Toll-Free: 1 (888) 361-3494
E-mail: info@gcxcopper.com
Website: www.gcxcopper.com
Twitter: @yukoncopper

Forward-Looking Statements

This news release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts including, without limitation, statements regarding potential mineralization, historic production, estimation of mineral resources, the realization of mineral resource estimates, interpretation of prior exploration and potential exploration results, the timing and success of exploration activities generally, the timing and results of future resource estimates, permitting time lines, metal prices and currency exchange rates, availability of capital, government regulation of exploration operations, environmental risks, reclamation, title, and future plans and objectives of the company are forward-looking statements that involve various risks and uncertainties. Although Granite Creek Copper believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include failure to obtain necessary approvals, unsuccessful exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital and financing on acceptable terms, general economic, market or business conditions, risks associated with regulatory changes, defects in title, availability of personnel, materials and equipment on a timely basis, accidents or equipment breakdowns, uninsured risks, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. For more information on Granite Creek Copper and the risks and challenges of their businesses, investors should review their annual filings that are available at www.sedar.com.

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

SOURCE: Granite Creek Copper Ltd.



View source version on accesswire.com:
https://www.accesswire.com/727608/Granite-Creek-Copper-Identifies-New-High-Priority-Resource-Expansion-Targets-at-Carmacks-Copper-Gold-Silver-Project-in-Yukon-Canada

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Breaking Gold Shore Resources Junior Mining Precious Metals

Goldshore Announces Open-Pit Constrained Inferred Mineral Resource Estimate of 121.7 Mt at 1.1 g/t Au and 4.17 Moz Contained Gold at Moss Lake Deposit

Vancouver, British Columbia–(Newsfile Corp. – November 15, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“) is pleased to announce a mineral resource estimate (the “MRE“) for the Moss Lake deposit (the “Moss Lake Deposit“) located at its 100%-owned Moss Lake Gold Project in Northwest Ontario, Canada (the “Project” or the “Moss Lake Gold Project“).

Open-Pit Constrained Inferred Mineral Resource Estimate with an Effective Date of November 14, 2022:

Inferred Resources
(Domains)		Tonnes
(Mt)		Grade
(g/t Au)		Contained Metal
(Moz Au)
Shear34.72.02.20
Intrusion87.00.71.97
Total121.71.14.17


Note: Based on a US$1,500 per ounce gold price and economic cut-off grade of 0.40 g/t Au. Refer to complete notes on Mineral Resource Assumptions below.

  • This is a major milestone for the Company as the shear domain represents an opportunity for a high-grade open-pit gold resource.
  • There is significant and clear expansion potential through strike and dip extensions to known shears, as well as parallel shears. The Company has included 48 holes from its 2021 and 2022 drilling campaign in the new MRE and has drilled an additional 52 holes that are not included in the MRE because assays have not been received to date.
  • The current MRE represents a significant expansion over the 2013 historical estimate for the Project with 35% more tonnes and 33% more contained gold ounces.
  • The Moss Lake Gold Project is host to 29 additional targets over a 35 km trend, which the Company continues to evaluate.

President and CEO, Brett Richards, stated: “This mineral resource estimate confirms our belief that the Moss Lake Deposit is larger than previously thought. More importantly, there is a mass of higher-grade mineralization that can be prioritized in a potential phase one operation that Goldshore can build with a smaller capital requirement. Our findings on this MRE are exciting for the future of the Moss Lake Gold Project, as we now have short- and medium-term options to continue to deliver value to the Goldshore shareholders, as we explore expansions and quality increases (infill drilling to Indicated resource category) to the higher-grade resource; but also while testing other areas of known strong mineralization like East Coldstream, North Coldstream, Iris and Vanguard, across a trend of 35 km on the project.”



Figure 1: Shear domain (red) and intrusion domain (yellow) within optimized pit constraints

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/8051/144351_b836ade6a4de9af8_002full.jpg



Figure 2: Cross section showing extension of shear domain beneath the constraining pit shell

To view an enhanced version of Figure 2, please visit:
https://images.newsfilecorp.com/files/8051/144351_b836ade6a4de9af8_003full.jpg

Notes on MRE Assumptions (refer to table above)

  1. Numbers have been rounded to reflect the precision of an Inferred mineral resource estimate. Totals may vary due to rounding.
  2. Estimation has been completed within the two separate reported geological domains: a higher-grade shear domain which occurs within a larger lower-grade intrusive domain; modelling of domain boundaries has considered both geology and grade.
  3. Gold cut-off has been calculated based on a gold price of US$1,500/oz, mining costs of US$2.50 per tonne, processing costs of US$12.50 per tonne, and mine-site administration costs of US$2.50 per tonne processed. Metallurgical recoveries of 85% are based on prior metallurgical test work.
  4. An economic cut-off grade of 0.40 g/t Au was applied to mineralized rock in the optimized open pit for processing determination.
  5. Mineral Resources conform to NI 43-101, and the 2019 CIM Estimation of Mineral Resources & Mineral Reserves Best Practice Guidelines and 2014 CIM Definition Standards for Mineral Resources & Mineral Reserves.
  6. The Qualified Person and Company are not aware of any environmental, permitting, legal, title, taxation, socio-economic, marketing, or political factors that might materially affect the Mineral Resource estimate.
  7. Mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred Resources in the MRE are uncertain in nature and there has been insufficient exploration to define these Inferred Resources as Indicated and/or Measured Resources. The Company will continue exploration intended to upgrade the Inferred Mineral Resources to Indicated Mineral Resources.

Technical Overview

Details of the MRE will be provided in a technical report with an effective date of November 14, 2022 prepared in accordance with National Instrument 43-101 (“NI 43-101“), which will be filed under the Company’s SEDAR profile within 45 days of this news release. The MRE was prepared by independent mining consulting firm CSA Global Canada (“CSA Global“), a division of ERM Consultants Canada Ltd., in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum (“CIM“) Definition Standards on Mineral Resources and Reserves (2014).

Moss Lake Geology and Model

The Moss Lake Gold Deposit is a structurally controlled gold deposit within the greenstone terrain of the Archean Superior Province. Mineralization is localized where the major NE-trending Wawiag Fault Zone cuts a dioritic to granodioritic intrusive complex. The deposit is defined by a series of anastomosing centimeter- to meter-scale NE-trending shear zones carrying higher-grade gold mineralization, and lower-grade gold mineralization associated with more brittle-style deformation and veining in the intrusive rock mass between the shear zones. Mineralization is associated with pyritic sericitic and chloritic alteration and millimeter- to centimeter-scale irregular quartz-carbonate veinlets.

Detailed geological logging and multi-element geochemical analysis of drill core from the 2021-22 drilling has supported modelling of discrete shear domains within the larger altered and variably mineralized intrusive domain. The shear domains have a different higher-grade gold population to the low-grade intrusive domain and these domains have been estimated separately using different search parameters. Importantly, this allows a more accurate representation of the true variability within the deposit than has been achieved in previous estimates.

Drill Hole Data and QAQC Procedures

The Moss Lake Deposit has been evaluated by several diamond drill programs since the 1970s and earlier. The greatest number of drill holes were completed between 1986 and early 1992 by Tandem/Storimin and Noranda Inc. (311 drill holes for 86,196 meters). A smaller drilling program in 2008 served to validate the older data and lead to the completion of the historical resource estimate (“historical estimate“) by Moss Lake Gold Mines Ltd. in 2013. Following acquisition of the Moss Lake Gold Project, Goldshore commenced a drill program in 2021 that is still ongoing. The program aims to systematically redrill the deposit defined by previous campaigns and, in the process, to validate as much of the historical data as possible.

Prior to the 2008 program, there are no documented QAQC procedures or data available. Additionally, down-hole surveys were not undertaken or used an acid-bottle technique that measured dip and not azimuth. This is the case for most of the historical drilling which was completed in the late 1980s to early 1990s. The ongoing Goldshore drilling program utilizes full industry-standard survey control and QAQC programs and is designed to systematically redrill the Moss Lake Deposit and validate as much of the historical drilling as possible through collar surveys, re-logging, and re-sampling.

Mineral Resource Estimation Methodology

The current MRE is based on an improved understanding of the geological controls on gold mineralization that follows the detailed logging of 48 new drill holes (27,851.75 metres) drilled since August 2021 and with a drill hole database cut-off date of October 14, 2022. The MRE does not include the high-grade intercepts around the margins of the deposit reported on November 1, 2022.

CSA Global was provided with the wireframes for resource estimation by Goldshore. Goldshore modelled the shear zones domain using a combination of geological features and raw assay values above 1 g/t Au using explicit digitizing methods in Seequent Leapfrog 3D geological modelling software (“Leapfrog”). Goldshore modelled the intrusive domain using implicit modelling techniques in Leapfrog using a cut-off grade of 0.25 g/t Au.

CSA Global reviewed the provided wireframes to confirm validity for resource estimation. Statistical and geostatistical assessment of 1 m composites confirmed that the shear domains should be estimated within hard boundaries separating them from the intrusive domain. Statistical analysis was used to determine high-grade capping for each shear zone wireframe and ranged from 20 g/t Au to 60 g/t Au.

The MRE was estimated with a block size of 15 m x 15 m x 5 m utilizing subblocks and constrained within wireframes with a minimum width of 1.50 m. Gold content was estimated using ordinary kriging methods using dynamic anisotropy variogram models. The maximum range of the variogram models generally are between 60 m x 30 m x 10 m in the shear domain and 60 m x 60 m x 40 m in the intrusive domain. The search ellipse was constrained to selecting composites flagged within each domain and varied from half (1st), the full (2nd) and double the variogram ranges (3rd). Additional check estimates were completed using inverse distance squared (ID2) and nearest neighbour methods, the latter on bench scale composites.

Density values for 1,737 samples collected from all Goldshore drill holes were used to determine an average bulk density for each wireframed zone. Values range between 2.70 and 2.72 t/m3 for the mineralized domains, 2.7 t/m3 for waste rock, and 2.0 t/m3 for glacial overburden.

Mineral resources are presented as undiluted and in situ. The historical underground voids from Noranda’s 1980’s exploration program have been removed from the geological model.

Mineral Resource Classification

The MRE has been classified as an Inferred Mineral Resource. This resource classification reflects the fact that the majority of the drill hole data used for the resource estimate is historical, and no QAQC data or reports exist for the majority of these drill holes. Statistical assessment of historical data and recent data provided some support for the historical data, but also included some inconsistencies. The majority of the historical drill holes did not have acceptable downhole surveys meaning that spatial location of the core samples remains uncertain especially beneath 200 m.

While the downhole surveys and QAQC methods utilized for the modern drill holes is of industry standard, these holes remain too sparsely distributed to permit confident mineral resource estimation on their own. Goldshore is now embarking on an extensive program of relogging and resampling of historical drill core, together with downhole surveying where possible. Goldshore’s program of infill and confirmatory drilling is also ongoing. It is expected that this work will support classification of Indicated mineral resource in any subsequent mineral resource updates by Goldshore.

Reasonable Prospects for Eventual Economic Extraction

To support reasonable prospects for eventual economic extraction for the MRE, CSA Global used the estimated block model to generate an optimized open pit using Datamine NPV Scheduler software and the following assumptions: a gold price of US$1,500/oz, plant recovery of 85%, processing costs of US$12.50/tonne, mine-site general and administration costs of US$2.50/tonne processed, mining costs of US$2.50/tonne moved and an overall pit slope angle of 50 degrees. NPV Scheduler Software is widely used by mining engineers to apply the Lerchs-Grossman algorithm to block models in order to generate optimized pit shells upon which economic open pit mine designs may be based.

The MRE is constrained within the selected optimized pit shell which reaches a maximum depth of approximately 580 m.

Figures 1 and 2 above show the relationship of the shear and intrusion domains within the optimized pit shell.

Additional Exploration Potential

The modelled shear-hosted domains extend at depth below the optimized open-pit constraining the reported MRE, but the drill hole data are too sparsely distributed to support underground mining optimization studies and reporting of an underground-constrained MRE at this time.

The shears are also open along strike, beyond the modelled strike length of 3.5 km. Historical drilling intercepted gold mineralization over a total strike length of 8 km, which has been a focus of Goldshore’s summer soil geochemistry and structural mapping programs. Furthermore, there remains potential for additional parallel shears with gold mineralization in historical drill holes 500 m to the southeast of the Moss Lake Deposit.

Figure 3 shows the location of mineralized drill holes along and parallel to the strike of the MRE.



Figure 3: Mineralized zones showing the exploration upside along strike and in parallel structures

To view an enhanced version of Figure 3, please visit:
https://images.newsfilecorp.com/files/8051/144351_b836ade6a4de9af8_004full.jpg

Next Steps

Goldshore has commenced an extensive program of relogging and resampling of all historical drill holes whose collars have been located and accurately surveyed. Where possible, these drill holes will also be surveyed using modern downhole surveying equipment.

Notwithstanding the above, a large proportion of the historical drill collars have not been located. The mineralized volumes defined by these historical drill holes will be redrilled in an optimized pattern to accurately define the shear-hosted and intrusive domain mineralization. This will include a full suite of oriented core measurements and multi-element geochemistry analyses.

Work has also commenced on a comprehensive metallurgical testing program led by Ausenco. This work will include a mineral deportment study, grinding tests, gravity separation, flotation, heap leach, and cyanide leach optimization studies. Once complete, Goldshore expects to commence a preliminary economic assessment to evaluate several mining and processing strategies with a view to selecting the most economic and achievable development option. This study is expected to be completed in 2023.

Infill drilling, re-sampling of historical drill holes, and geological modelling will continue throughout the coming months to support a mineral resource estimate update to attempt to upgrade the resource classification from Inferred Resources to Indicated Resources. This work is targeted for completion by the end of 2023 when the Company expects to commence a prefeasibility mining study.

Pete Flindell, VP Exploration for Goldshore, said, “This mineral resource estimate confirms our understanding that high grade shears form the core of the Moss Lake Deposit and will drive the development of the Moss Lake Gold Project. The Inferred Mineral Resource reflects uncertainty in the collar and downhole surveys of the historical drill holes, as well as the selective sampling technique and lack of oriented core measurements that are critical in directing the high-grade structures that drive the overall estimate. While additional drilling is required to replace many of the historical drill holes and infill gaps in the model, we will be aiming to recover as many of these historical holes as possible by relogging and resampling core and conducting downhole surveys using more accurate survey equipment.“

Qualified Person Statements

Dr. Matthew Field (Pr. Sci. Nat), Manager – Resources at CSA Global is an independent Qualified Person under NI 43-101 and responsible for the MRE. Dr. Field has prepared and approved the scientific and technical information related to the MRE contained in this news release.

Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, and a Qualified Person under NI 43-101 has also reviewed and approved the scientific and technical information contained in this news release.

About Goldshore

Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome Gold Mines Ltd. is currently a large shareholder of Goldshore with an approximate 27% equity position in the Company. Well-financed and supported by an industry-leading management group, board of directors and advisory board, Goldshore is positioned to advance the Moss Lake Gold Project through the next stages of exploration and development.

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 release.

For More Information – Please Contact:

Brett A. Richards
President, Chief Executive Officer and Director
Goldshore Resources Inc.
P. +1 604 288 4416         M. +1 905 449 1500
E. brichards@goldshoreresources.com
W. www.goldshoreresources.com

Facebook: GoldShoreRes | Twitter: GoldShoreRes | LinkedIn: goldshoreres

Cautionary Note Regarding Forward-Looking Statements

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur.

Forward-looking statements in this news release include, among others, statements relating to expectations regarding the exploration and development of the Project, the filing of a technical report supporting the MRE, commencement of a preliminary economic assessment and prefeasibility study, and other statements that are not historical facts. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; compliance with extensive government regulation; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; the impact of COVID-19; the ongoing military conflict in Ukraine; and other risk factors outlined in the Company’s public disclosure documents.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144351

Categories
Gold Shore Resources Junior Mining Precious Metals

IIROC Trading Halt – GSHR

VANCOUVER, BC, Nov. 15, 2022 /CNW/ – The following issues have been halted by IIROC:

Company: Goldshore Resources Inc.

TSX-Venture Symbol: GSHR

All Issues: Yes

Reason: Pending News

Halt Time (ET): 10:08 AM

IIROC can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly market. IIROC is the national self-regulatory organization which oversees all investment dealers and trading activity on debt and equity marketplaces in Canada.

SOURCE Investment Industry Regulatory Organization of Canada (IIROC) – Halts/Resumptions

Cision
Cision

View original content: http://www.newswire.ca/en/releases/archive/November2022/15/c5573.html

Categories
Base Metals Collective Mining Junior Mining Precious Metals

Collective Mining to Present at 121 Mining Investment Conference November 22-23, 2022

TORONTO, Nov. 15, 2022 /CNW/ – Collective Mining Ltd. (TSXV: CNL) (OTCQX: CNLMF) (“Collective” or the “Company”) is pleased to announce that it will be participating in the 121 Mining Investment Conference, taking place November 22-23, 2022 in London, UK.

Investors and interested parties can arrange a face-to-face meeting with management by registering at https://www.weare121.com/121mininginvestment-london

Management will discuss the Company’s “Main Breccia” discovery at the Apollo target. The Main Breccia discovery is a high-grade and bulk tonnage, copper-silver-gold porphyry-related breccia system characterized by two main, yet distinct pulses of mineralized fluids flooding the breccia with metals.

The Company’s Guayabales project is located in the mining-friendly department of Caldas, in the heart of a long-established mining camp with ten fully permitted and operating mines located within three kilometres of the project. As a result, the Guayabales project is blessed with excellent infrastructure with roads and hydroelectric powerlines traversing the project and an abundant labour force located nearby in the townships of Supía and Marmato.

There are currently three rigs drilling at the Apollo target. Collective expects to release assay results from holes 15-25 at Apollo over the coming weeks and through year-end. The Company’s recently expanded drill program is ongoing with holes 26-28 currently bring drilled and holes 29-31 at the planning stage.

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: http://www.newswire.ca/en/releases/archive/November2022/15/c4414.html

Categories
Base Metals Breaking Emx Royalty Energy Junior Mining Precious Metals Project Generators

EMX Royalty Announces Third Quarter 2022 Results

Vancouver, British Columbia–(Newsfile Corp. – November 14, 2022) – EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (FSE: 6E9) (the “Company” or “EMX”) is pleased to report results for the quarter ended September 30, 2022 (“Q3-2022”). The Company’s filings for the quarter are available on SEDAR at www.sedar.com, on the U.S. Securities and Exchange Commission’s website at www.sec.gov, and on EMX’s website at www.EMXroyalty.com. Financial results were prepared in accordance with International Financial Reporting Standards, as issued by the International Accounting Standards Board.

HIGHLIGHTS FOR Q3-2022

Financial Update

All dollar amounts in this news release are Canadian dollars (CDN) unless otherwise noted.

  • Revenue and other income for the three months ended September 30, 2022 was $9,338,000 which includes continuing royalty income from the Leeville, Gediktepe, and Balya royalty interests totaling $4,881,000. Other income of $4,113,000 relates to other property payments from partnered properties. Adjusted revenue and other income1 was $12,105,000 which included $2,767,000 for the Company’s share of royalty revenue from its effective Caserones copper royalty interest in Chile.
  • After recovering $4,210,000 from partners, the Company’s net royalty generation costs totaled $2,652,000.
  • General and administrative costs totaled $1,644,000. Impacting general and administrative costs, were higher investor relations costs for increased marketing and communications activities offset by a reduction in fees paid to consultants during the period.
  • Share-based payments totaled $481,000 for the period compared to $1,206,000 in Q3-2021. The aggregate share-based payments relate mainly to the fair value of stock options and restricted share units (“RSUs”) granted and vested during the period.
  • Finance expenses of $1,579,000 associated with the Sprott Credit Facility. The Company had repaid in full the SSR VTB note (including interest) totaling $10,774,000 in the previous quarter.
  • For the quarter, the Company had income from operations of $1,311,000 and a net loss of $16,346,000.
  • Other significant items affecting income for the three months ended September 30, 2022 included unrealized fair value losses on investments of $7,241,000, impairment charges of $7,130,000 primarily related to the Gediktepe royalty in Turkey, and foreign exchange adjustments of $518,000.
  • As at September 30, 2022, the Company had unrestricted cash and cash equivalents of $14,297,000, investments and long-term investments valued at $19,877,000, and a loan payable of $54,961,000.

Corporate Updates

Appointment of Independent Director
In Q3-2022, EMX announced that Mr. Geoff Smith was appointed to the Board of Directors of the Company effective July 5, 2022. Mr. Smith brings to the board the benefit of 17 years of M&A and corporate finance experience having advised on or financed many of the largest, most complex and innovative streaming transactions in the past 10 years.

Purchase of Royalty Portfolio from Nevada Exploration
In Q3-2022, EMX announced it had executed a purchase and sale agreement (the “Agreement”) for a portfolio of royalties, with Pediment Gold LLC, a wholly owned subsidiary of Nevada Exploration Inc. (“NGE”) for US$500,000. The portfolio consists of a 2% net smelter return royalty (“NSR”) on NGE’s Nevada gold exploration portfolio covering ~62.5 square miles in Nevada and includes four district-scale land positions as well as certain other interests. In addition, if NGE options, farms out, or sells a project, beginning on the first anniversary of the third-party agreement, EMX will receive AARs of US$20,000 that escalate US$10,000 per year and are capped at US$50,000. NGE has the right to buy back half of EMX’s 2% NSR by purchasing a 0.5% NSR interest for US$1,000,000 any time prior to the 7th anniversary of the Agreement and then, if the first NSR interest is purchased, purchasing the second 0.5% NSR interest any time prior to production for US$1,500,000.

Receipt of Initial Production Royalty Payments from Gediktepe
In Q3-2022, EMX announced the receipt of initial royalty production payments from its Gediktepe royalty property in western Turkey. EMX holds a 10% NSR on oxide gold production at Gediktepe, a newly commissioned mine operated by Polimetal Madencilik Sanayi ve Ticaret A.S. (“Polimetal”), a private Turkish company. EMX has received payments for production from the months of June and July totaling US$1,842,452, inclusive of US$281,052 in Value Added Tax (“VAT”) for which EMX has credits to recover. These represent the first royalty production payments received from Gediktepe after receiving notice that the definition of commercial production had been satisfied in early June.

The June and July payments are based upon the sales of 4,490 ounces of gold and 23,309 ounces of silver in June and 4,030 ounces of gold and 44,164 ounces of silver in July. The payment for June was pro-rated for the portion of the month’s sales that took place after the satisfaction of the definition of commercial production in the royalty agreement, which took place on June 8th.

The Company has also taken an impairment in Q3-2022 against the carrying value of Gediktepe. While assessing whether any indications of impairment exist, consideration is given to external and internal sources of information. While the operation has only been in production for less than year, review of the oxide operation to date, potential for delay of the sulfide circuit along with revisions to metal pricing and Turkish royalty rates, the Company has reduced the value of Gediktepe by $7,092,000. Please refer to the Company’s interim financial statements for the nine months ended September 30, 2022 for additional information.

Receipt of Initial Production Royalty Payments from Balya North
In Q3-2022, EMX announced the receipt of initial royalty production payments from its Balya North royalty property in western Turkey. EMX holds an uncapped 4% NSR royalty on metals production from Balya North, a newly commissioned lead-zinc-silver mine operated by Esan Eczacibaşi Endüstriyel Hammaddeler San. ve Tic. A.Ş. (“Esan”), a private Turkish company.

In the first half of 2022, Esan’s advancement of the Balya North asset consisted of mine development and opening of production headings and faces for exploitation in Q3 and Q4 of 2022. Production and processing of materials from Balya North in the first half of 2022 largely consisted of material stockpiled during the construction process. EMX received payments from the processing of this material totaling US$98,787, inclusive of US$15,069 in VAT. These royalty payments are from 30,223 tonnes of processed material averaging 1.68% lead, 1.34% zinc, and 39.9 g/t silver.

Receipt of Milestone Payment for the Parks-Salyer Royalty Property
Subsequent to Q3-2022, EMX received a US$3,000,000 milestone payment from Arizona Sonoran Copper Company, Inc. (“ASCU”) for the Parks-Salyer royalty property (the “Royalty Property”) in Arizona. The Royalty Property was held under a lease arrangement by EMX’s wholly owned subsidiary Bronco Creek Exploration Inc. and was transferred to ASCU via Assignment and Royalty Agreements (the “Agreements”) executed earlier this year. EMX’s Royalty Property covers 158 acres of ASCU’s Parks-Salyer copper project. The milestone payment results from ASCU’s maiden resource estimate for the Parks-Salyer project that exceeds thresholds for contained copper included within EMX’s Royalty Property footprint. The Company also retains a 1.5% NSR covering the Royalty Property.

Impact of Covid 19
EMX continues to monitor developments regarding the ongoing coronavirus pandemic (“COVID-19”), with a focus on the jurisdictions in which the Company operates. EMX has implemented COVID-19 prevention, monitoring and response plans following the guidelines of international agencies and the governments and regulatory agencies of each country in which it operates. EMX’s priority is to safeguard the health and safety of its personnel and host communities, support government actions to slow the spread of COVID-19 and assess and mitigate the risks to business continuity.

Royalty and Royalty Generation Updates

EMX’s royalty and mineral property portfolio consists of 265 properties in North America, Europe, Turkey, Latin America and Australia (See Figure 1). The Company’s portfolio is comprised of the following:

Producing Royalties5
Advanced Royalties9
Exploration Royalties152
Royalty Generation Properties99



Figure 1. EMX’s royalty and mineral property portfolio.

To view an enhanced version of Figure 1, please visit:
https://images.newsfilecorp.com/files/1508/144216_fd23da17d415d84b_002full.jpg

During Q3-2022, the Company’s royalty generation business was active in North America, South America, Europe, Turkey, and Australia. The Company spent $6,862,000 and recovered $4,210,000 from partners. During the quarter the Company completed two new property agreements in Northern Europe and one new partnership in the US, and continued to grow the portfolio with new mineral property acquisitions.

Highlights from Q3-2022 include the following:

  • In the US the Company added to its growing royalty portfolio with the completion of one new royalty agreement on a copper project in Arizona, the advancement of ten partner-funded work programs, including five drill projects, the acquisition of four large royalty positions from Nevada Exploration covering key land positions in Nevada, and new generative work leading to the acquisition of a large (i.e., greater than 1950 hectares), prospective land position in the Silver Valley district in Idaho.
  • US highlights also include Arizona Sonoran Copper Company’s (“ASCU”) announcement of a maiden resource at the Parks-Salyer deposit (see ASCU news release dated September 28, 2022) and key drill intercepts within the EMX royalty footprint which include 162 meters at 1.10% copper in drill hole ECP-084 and 68.3 meters at 2.24% copper in drill hole ECP-086 (true widths unknown) (see ASCU news release dated September 7, 2022). As noted earlier, subsequent to Q3-2022, EMX received a US$3,000,000 Milestone Payment from ASCU resulting from the announced resource exceeding 200 million pounds of contained copper within the royalty footprint (see EMX new release dated October 4, 2022).
  • In Canada, EMX continued its summer work programs to advance and delineate targets on available properties in the portfolio as partners conducted multiple field programs, including drill programs on optioned and EMX royalty properties. EMX received $63,000 in cash payments and $4,000 in share equity payments during the quarter.
  • EMX’s Latin American royalty portfolio advanced through field programs at Morros Blancos and Morros Colorado by Austral Gold Limited, Block 4 by Pampa Metals Corporation, and drill programs conducted by AbraSilver Resource Corp., Aftermath Silver Ltd, and GR Silver Mining Ltd. Q3 drill programs at San Marcial, as well as Diablillos and Berenguela continue to produce significant results that expand known resources and add new discoveries at nearby targets. Highlights at San Marcial include the discovery of a new silver zone by GR Silver with a 250 meter step out drill hole intersecting 101.6 meters at 308 g/t silver with multiple higher grade sub-intervals (true width unknown) (see GR Silver news release dated August 8, 2022). An updated resource estimation for San Marcial is scheduled for Q1-2023.
  • As a subsequent event, AbraSilver announced an updated, open pit constrained mineral resource estimate for the Diablillos project’s Oculto deposit reported as measured and indicated of 51.3 Mtonnes averaging 66 g/t silver (109 Moz contained Ag) and 0.79 g/t gold (1.3 Moz contained Au), as well as inferred of 2.2 Mtonnes averaging 30 g/t silver (2.1 Moz contained Ag) and 0.51 g/t gold (37 Koz contained Au) (see AbraSilver news release dated November 3, 2022). The updated resource was based upon drilling through Phase II. The ongoing Phase III drill program is focused on the near surface, high-grade Southwest Zone discovery.
  • In Northern Europe the Company continued to expand its portfolio of projects, acquiring a gold-copper project in Sweden and a gold-cobalt project in Finland totaling nearly 20,000 hectares. Two Norwegian polymetallic projects were sold to Minco Silver in Q3 and eight partner funded projects advanced EMX royalty assets, including three drill programs. Overall, approximately US$2.3 million was spent by partners on EMX royalty properties in Northern Europe in Q3.
  • Drill results were announced at the Tomtebo Project in Sweden by District Metals in Q3. Highlights included 25.5 meters averaging 2.4% zinc, 2.05% lead and 65 ppm silver in drill hole TOM22-38 starting at 249 meters (true width unknown) (see District Metals news release dated August 17, 2022)2.
  • Drill programs were also completed in Norway at Playfair Mining’s RKV project and at Norden Crown Metals’s Burfjord project. Nineteen diamond drill holes totaling 1,107 meters were drilled at Playfair’s RKV Project and 18 diamond drill holes totaling 3,500 meters were drilled at Burfjord.
  • EMX continued to advance its understanding of the newly discovered cobalt enriched manganese mineralization at its 100% owned Yarrol Project in Australia. Soil sampling grids continued to expand the footprint of cobalt-rich mineralization and preparations for an upcoming drill program commenced in Q3.
  • Work also proceeded in the Balkans and in Morocco, where multiple exploration license applications have been filed by the Company, and new areas are being assessed for further acquisitions.

Financing Updates

Exercise of Stock Options granted by EMX
Ending Q3-2022, 1,045,000 stock options were exercised at $1.20 per share pursuant to the Company’s Stock Option Plan, which generated proceeds of $1,254,000 to EMX.

Investment Updates
As at September 30, 2022, the Company had investments totaling $19,877,000 which included $13,651,000 in various public and private entities, and $6,226,000 in non-current investments. The Company will continue to generate cash flow by selling certain of its investments when appropriate.

Strategic Investment in Premium Nickel Resources
Between 2020 and 2022, EMX acquired 5,412,702 shares of Premium Nickel Resources Corporation, a private company with nickel-copper-cobalt assets in Botswana. On April 26, 2022, PNR announced the execution of a definitive agreement for a reverse takeover transaction (“RTO”) with North American Nickel Inc. (“NAN”) to create a new reporting entity, Premium Nickel Resources Ltd (“PNRL”). PNRL began trading on the TSX Venture Exchange in Q3, having completed the RTO process with NAN. As a result of the RTO transaction, EMX’s interests were converted to 5,704,987 shares of PNRL, which represents roughly 5% of the issued and outstanding shares of PNRL.

Subsequent to the listing transaction, PNRL announced initial results from its ongoing diamond drilling program at its 100% owned Selebi nickel-copper-cobalt project in Botswana (see PNRL news release dated August 17, 2022). Highlights included an intercept of 25.65 meters of 0.95% nickel, 2.03% copper and 0.04 % cobalt in drill hole SMD-22-001 starting at 1,374.5 meters (true width estimated to be 70-80% of drilled interval). This was the first hole drilled in the 2022 program, and on September 13, 2022, PNRL announced further intercepts from a wedge drilled off hole SMD-22-001 (hole SMD-22-001-W1) of 4.35 meters averaging 0.98% nickel, 1.61% copper and 0.02% cobalt starting at 1,363 meters and 12.55 meters of 0.39% nickel, 1.99% copper and 0.02% cobalt starting at 1,385.65 meters (true thicknesses estimated to be 70-80% of the drilled interval) (see PNRL news release dated September 13, 2022). Assay results from other holes are pending3.

OUTLOOK

This year will see an increase in revenue and other income coming from our cash flowing royalties, including Leeville in Nevada, Gediktepe and Balya in Turkey, potentially Timok in Serbia (pending conclusion of the royalty rate discussions with Zijin), and our effective royalty interest on Caserones in Chile. As in previous years, production royalties will continue to be complemented by option, advance royalty, and other pre-production payments from partnered projects across the global portfolio. As a royalty holder, the Company has limited, if any, access to information on properties for which it holds royalties. Accordingly, the Company has not, and does not anticipate that it will have the ability to, provide guidance or outlook as to future production.

So far in 2022, EMX has acquired an additional (effective) 0.3155% royalty interest on Caserones, completed a $12,580,000 (US $10,000,000) private placement with Franco-Nevada, made a strategic investment in PNR, and repaid in full the vendor take back note issued to SSR Mining Inc.

The Company will continue to strengthen its balance sheet over the course of the year by looking to retire portions of its long-term debt, continuing to evaluate equity markets (including the filing of a shelf prospectus), and the ongoing monetization of the Company’s marketable securities.

EMX is well funded to identify and pursue new royalty and investment opportunities, while further filling a pipeline of royalty generation properties that provide opportunities for additional cash flow, as well as exploration, development, and production success.

QUALIFIED PERSONS

Michael P. Sheehan, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on North America, Latin America, and Strategic Investments. Eric P. Jensen, CPG, a Qualified Person as defined by NI 43-101 and employee of the Company, has reviewed, verified and approved the above technical disclosure on Europe, Turkey, and Australia.

About EMX. EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company’s common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol “EMX”, and also trade on the Frankfurt exchange under the symbol “6E9”. Please see www.EMXroyalty.com for more information.

For further information contact:

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

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

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

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

Forward-Looking Statements
This news release may contain “forward looking statements” that reflect the Company’s current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as “estimate,” “intend,” “expect,” “anticipate,” “will”, “believe”, “potential” and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company’s future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company’s MD&A for the quarter ended September 30, 2022 (the “MD&A”), and the most recently filed Annual Information Form (“AIF”) for the year ended December 31, 2021, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedar.com and on the SEC’s EDGAR website at www.sec.gov.

1 Adjusted revenue and other income, and adjusted cash provided by (used in) operating activities are non-IFRS financial measures with no standardized meaning under IFRS and might not be comparable to similar financial measures disclosed by other issuers. Refer to the “Non-IFRS financial measures” section on page 24 of the Company’s MD&A for the period ended September 30, 2022 for more information on each non-IFRS financial measure.
2 EMX has not done independent and sufficient to work verify the drill results as published by District Metals, and these results should not be relied upon until they are confirmed. However, EMX believes these results to be reliable and relevant.
3 EMX has not done independent and sufficient to work verify the drill results as published by Premium Nickel Resources Ltd, and these results should not be relied upon until they are confirmed. However, EMX believes these results to be reliable and relevant.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/144216

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
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
Base Metals Energy Junior Mining Rover Metals

Rover Metals to Temporarily Trade Under the Symbol (ROVMD) on OTCQB

Rover Metals Corp.
Rover Metals Corp.

VANCOUVER, British Columbia, Nov. 09, 2022 (GLOBE NEWSWIRE) — Rover Metals Corp. (TSXV: ROVR) (OTCQB: ROVMF) (FSE:4XO) (“Rover” or the “Company”) announces that further to its release of October 28, 2022, regarding its listed common share consolidation, per FINRA regulations in the United States, the Company will temporarily trade under ROVMD on the OTCQB. After November 28th, 2022, the Company will resume trading under its old symbol ROVMF.

Judson Culter, CEO at Rover Metals, states “a consolidation of our Company’s securities was necessary to position Rover for growth and success with our new critical mineral projects. Both the Let’s Go Lithium Project, Nevada, USA, and the IML Zinc-Copper Project, NT, Canada, require Phase 1 and Phase 2 Exploration Programs. Additionally, the Company’s existing gold projects require expanded Phase 2 Exploration Programs.”

About Rover Metals
Rover is a publicly traded junior mining company that trades on the TSXV under symbol ROVR, on the OTCQB under symbol ROVMF, and on the FSE under symbol 4XO. The Company is now developing a diverse portfolio of mineral resource projects: (1) Nevada Claystone Lithium; (2) Zinc-Copper-Lead-Silver in NT, Canada; as well as (3) Gold in NT, Canada. The Company is exclusive to the mining jurisdictions of the U.S. and Canada.

You can follow Rover on its social media channels:
Twitter: https://twitter.com/rovermetals
LinkedIn: https://www.linkedin.com/company/rover-metals/
Facebook: https://www.facebook.com/RoverMetals/
for daily company updates and industry news, and
YouTube: https://www.youtube.com/channel/UCJsHsfag1GFyp4aLW5Ye-YQ?view_as=subscriber
for corporate videos.
Subscribe to our Newsletter on our Website: https://www.rovermetals.com/

ON BEHALF OF THE BOARD OF DIRECTORS
“Judson Culter”
Chief Executive Officer and Director

For further information, please contact:
Email: info@rovermetals.com
Phone: +1 (778) 754-2617

Statement Regarding Forward-Looking Information
This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Rover’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. There can be no assurance that such statements prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward-looking statements. Any factor could cause actual results to differ materially from Rover’s expectations. Rover undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.