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.
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.
Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Goldshore Resources Inc (TSXV: GSHR) will be participating in the Deutsche Goldmesse, which will take place on November 18th and 19th at The Westin Grand Frankfurt.
Members of the Goldshore Resources Inc management will be taking meetings throughout the day, and also present at 01:45pm CET on November 19th to an audience of European investors.
Kai Hoffmann, Managing Director of Soar Financial Partners, remarked, “We are excited to host our 3rd in-person premier mining investment event, bringing together carefully selected mining and exploration companies with the European investment community over the course of two days. We anticipate this to be our largest conference yet, and we are pleased to welcome again an astute line-up of keynote speakers.”
The Deutsche Goldmesse website is continuously being updated concerning attending companies, keynote speakers, agenda, etc.: www.deutschegoldmesse.com
About Goldshore Resources Inc
Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00F)Goldshore is an emerging well-financed junior gold developer, who acquired the Moss Lake Gold Project (Ontario, Canada) from Wesdome Gold Mines Ltd. In January 2021. The Moss Lake Project has a historical resource of c.1.5M oz Indicated and c.2.5M oz. Inferred and is conducting an extensive exploration strategy, including a 100,000m drilling program. As well, The Moss Lake Project has a historical copper mine (North Coldstream Mine) on its land package (operated by Noranda/Xstrata – 1954-1992), and significant other copper/gold targets to be tested going forward. Goldshore’s Moss Lake Project holds a large land package in North-western Ontario. The project displays significant resource potential, as Goldshore takes the project through its next stages of exploration and development, towards an updated mineral resource estimation (MRE) in Q4 2022; followed by updated preliminary economic assessment (PEA) in Q1 2023 and visibility towards feasibility study (FS) thereafter.
About Deutsche Goldmesse
Deutsche Goldmesse is Germany’s premier mining investment conference, based out of Frankfurt – one of Europe’s most important financial capitals. We bring together leading minds in the industry to foster new business opportunities and facilitate valuable relationships. The exclusive two-day event showcases industry-leading keynote speakers and up to 35 carefully considered companies in a range of commodities and stages from explorers to producers.
Hosted by Soar Financial Partners, we provide a platform where top company management can connect with a vast network of European institutional and HNW investors, retail investors, analysts, influencers, newsletter writers, media, and other local partners.
North Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (ASX: LLO) (“Lion One” or the “Company”) is pleased to announce results from hole TUDDH 608 as part of its ongoing deep drill program in definition of the “500” zone. Exceptional results include 23.7 meters (m) averaging 17.52 g/t gold with a horizontal true width of 10.4m. Mineralized intervals are inclusive of several bonanza-grade intercepts. This hole is consistent with Lion One’s geological model of a robust Alkalic gold system with increasing gold grade at depth.
Highlights
A deep high-grade intercept of 17.52 g/t Au over 23.7m with 10.4m true width from TUDDH 608 Targeting intersection of TUG 141(20.86 g/t Au over 76.9m) and TUDDH 601(12.22 g/t Au over 54.9m) Structural interpretation for a deep high grade feeder system taking shape in Zone 500
TUDDH 608 – select high grade intercepts
From m
To m
Intercept m
Grade g/t Au
594.5
618.2
23.70
17.89
594.5
614.1
19.60
21.16
596.7
603.1
6.40
42.58
596.7
597.9
1.20
85.10
599.8
600.4
0.60
108.31
Lion One Senior Vice President Exploration Sergio Cattalani commented “By drilling at a high angle across the TUG 141 (20.86 g/t gold over 76.9m) / TUDDH 601 (12.22 g/t Au over 54.9m) high-grade zone, TUDDH 608 was able to provide valuable information on the width and continuity of this zone. The outstanding results obtained of 17.52 g/t gold over 23.7m corresponds to a horizontal true width of 10.4m, which is approximately seven times the estimated average mining width, and at a grade that is nearly twice the average grade of the existing resource. The significance of this zone and its likely contribution to the increase in overall contained ounces cannot be overstated, as the extent of this zone may be much greater than previously thought. We are currently drilling several additional holes to test the possible plunge extent estimated by oriented core structural measurements. We will continue to report additional results as they become available.”
Hole TUDDH 608 (azimuth: 089°, dip: -64°), drilled from west to east, was designed drill across the high-grade zone identified in two directions by TUG 141 and TUDDH 601 (Figures 1, 2). With the completion of TUDDH 608 we can now better understand the true horizontal width and potential volume of the bonanza-grade feeder zone. The results are outstanding with 23.7m drilled width at 17.5 g/t gold, including 19.6m of 20.7 g/t gold (Figures 3-10). The horizontal true width of the zone at the drilled location is 10.4m (Figure 1). Lion One regards the confirmation of the high-grade feeder zone initially identified by TUG 141 and TUDDH 601 as transformational in that it confirms both continuity and implies extensive volume of the mineralized feeder zone below the current resource. Mineralization in TUDDH 608 extends from 594.5m to 618.2m (Table 1).
Lion One CEO Walter Berukoff commented “We look forward to further definition of the “Jewel box” dilatational feeder zone that we have been drilling out beneath the existing resource starting from surface at Tuvatu. This hole provides outstanding results for us as it continues to lend credence and proof-of-concept to the thesis of a deeper, very high-grade, feeder-style zone at depth. We continue to add enormous value to the mine as well as the critical exploration upside with the drill bit. We are defining what looks to be the next major high-grade discovery and world-class gold deposit right here in Fiji. We look forward to further results in very near future.”
Assay Data for TUDDH 608
Drill Hole
Easting
Northing
Elevation
Azimuth
Dip
Length (m)
TUDDH 608
1876280.4
3920472.4
286.5
89
-64
678.1
Drill Hole
From (m)
To (m)
Interval (m)
Au (g/t)
TUDDH 608
38.0
38.6
0.6
1.04
263.8
264.4
0.6
0.79
285.1
285.7
0.6
0.69
493.6
493.9
0.3
3.08
503.2
510.0
6.8
2.45
Including
506.7
507.3
0.6
10.50
511.2
515.7
4.5
1.45
517.8
518.1
0.3
1.09
519.3
523.2
3.9
1.50
557.1
557.7
0.6
9.09
Including
557.1
557.4
0.3
11.65
Including
557.4
557.7
0.3
6.52
559.2
559.8
0.6
3.03
571.4
572.6
1.2
9.42
Including
571.4
572.0
0.6
17.03
Including
572.0
572.6
0.6
1.80
576.5
577.4
0.9
0.51
594.5
618.2
23.7
17.89
Which Includes
594.5
614.1
19.6
21.16
Also Including
596.7
603.1
6.4
42.58
Including
596.7
597.9
1.2
85.10
Including
597.9
598.6
0.7
9.42
Including
598.6
598.9
0.3
8.38
Including
598.9
599.2
0.3
11.44
Including
599.2
599.5
0.3
6.98
Including
599.5
599.8
0.3
36.39
Including
599.8
600.4
0.6
108.31
Including
600.4
600.7
0.3
21.69
Including
600.7
601.7
1.0
13.54
Including
601.7
602.2
0.5
23.21
Including
602.5
603.1
0.6
80.02
and
603.1
603.7
0.6
7.05
Including
603.7
604.0
0.3
11.98
Including
606.0
606.6
0.6
54.54
Including
606.6
607.2
0.6
12.00
Including
607.2
607.8
0.6
8.30
Including
607.8
608.4
0.6
29.57
Including
609.3
609.6
0.3
24.31
Including
610.2
610.8
0.6
10.85
Including
610.8
611.1
0.3
7.54
Including
611.4
612.1
0.7
45.02
Including
612.1
612.9
0.8
13.31
and
612.9
613.8
0.9
0.54
and
613.8
614.1
0.3
1.87
and
614.1
616.1
2.0
<0.5
616.1
618.2
2.1
4.26
Including
616.1
616.7
0.6
11.72
Including
616.7
617.5
0.8
1.87
Including
617.5
618.2
0.7
0.59
670.2
670.5
0.3
1.05
Figure 1: Tuvatu Alkalic gold mine. Blue shapes are areas of known mineralization that define the current resource. Note the trifecta of holes that delineate, in 3 different orientations, the 10.4m true width of the “Jewel Box” high-grade zone (Brown =>10 g/t Au) which occurs within the larger high-grade 500 feeder zone
Figure 2: Closer view of the lower portion of Figure 1, depicting theorientation of selected drill holes that define a coherent high-grade portion within the high-grade 500 Zone mineralization entirely below the current resource.
In accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43- 101”), Sergio Cattalani, P.Geo, Senior Vice President Exploration, is the Qualified Person for the Company and has reviewed and is responsible for the technical and scientific content of this news release.
QAQC Procedures
Lion One adheres to rigorous QAQC procedures above and beyond basic regulatory guidelines in conducting its sampling, drilling, testing, and analyses. The Company utilizes its own fleet of diamond drill rigs, using PQ, HQ and NQ sized drill core rods. Drill core is logged and split by Lion One personnel on site. Samples are delivered to and analyzed at the Company’s geochemical and metallurgical laboratory in Fiji. Duplicates of all samples with grades above 0.5 g/t Au are both re-assayed at Lion One’s lab and delivered to ALS Global Laboratories in Australia (ALS) for check assay determinations. All samples for all high-grade intercepts are sent to ALS for check assays. All samples are pulverized to 80% passing through 75 microns. Gold analysis is carried out using fire assay with an AA finish. Samples that have returned grades greater than 10.00 g/t Au are then re-analyzed by gravimetric method. For samples that return greater than 0.50 g/t Au, repeat fire assay runs are carried out and repeated until a result is obtained that is within 10% of the original fire assay run. Lion One’s laboratory can also assay for a range of 71 other elements through Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES), but currently focuses on a suite of 9 important pathfinder elements. All duplicate anomalous samples are sent to ALS labs in Townsville QLD and are analyzed by the same methods (Au-AA26, and Au-GRA22 where applicable). ALS also analyses 33 pathfinder elements by HF-HNO3-HClO4 acid digestion, HCl leach and ICP-AES (method ME-ICP61).
About Lion One Metals Limited
Lion One’s flagship asset is 100% owned, fully permitted high grade Tuvatu Alkaline Gold Project, located on the island of Viti Levu in Fiji. Lion One envisions a low-cost high-grade underground gold mining operation at Tuvatu coupled with exciting exploration upside inside its tenements covering the entire Navilawa Caldera, an underexplored yet highly prospective 7km diameter alkaline gold system. Lion One’s CEO Walter Berukoff leads an experienced team of explorers and mine builders and has owned or operated over 20 mines in 7 countries. As the founder and former CEO of Miramar Mines, Northern Orion, and La Mancha Resources, Walter is credited with building over $3 billion of value for shareholders.
On behalf of the Board of Directors of Lion One Metals Limited
“Walter Berukoff“ Chairman and CEO
For further information Contact Investor Relations
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy or accuracy of this release.
This press release may contain statements that may be deemed to be “forward-looking statements” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “proposed”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Lion One Metals Limited’s current beliefs and is based on information currently available to Lion One Metals Limited and on assumptions Lion One Metals Limited believes are reasonable. These assumptions include, but are not limited to, the actual results of exploration projects being equivalent to or better than estimated results in technical reports, assessment reports, and other geological reports or prior exploration results. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Lion One Metals Limited or its subsidiaries to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the stage development of Lion One Metals Limited, general business, economic, competitive, political and social uncertainties; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, timing and availability of external financing on acceptable terms; not realizing on the potential benefits of technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Lion One Metals Limited has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Lion One Metals Limited does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Vancouver, British Columbia–(Newsfile Corp. – November 7, 2022) – Dolly Varden Silver Corporation (TSXV: DV) (OTCQX: DOLLF) (the “Company” or “Dolly Varden“) is pleased to announce results from drilling at the Torbrit Resource area, including infill and step-out drilling within the Kitsol Vein zone.
The high-grade, potentially bulk-mineable Kitsol Vein continued to deliver outstanding, contiguous silver and base metal mineralization, where DV22-291 intersected 12.51m (8.88m true width) averaging 442 g/t Ag, 0.68% Pb and 0.42% Zn, including of 1,367 g/t Ag over 1.50m (1.07m true width), as an up-dip infill hole from previous high-grade intercepts.
Highlights include:
DV22-289: 979 g/t Ag over 0.49 meters true width, step out at Torbrit Main
DV22-291: 442 g/t Ag over 8.88 meters true width, infill at Kitsol
DV22-298: 372 g/t Ag over 10.78 meters true width, up-dip extension at Kitsol
DV22-308: 297 g/t Ag over 6.59 meters true width, step out at Torbrit Main
DV22-312: 585 g/t Ag over 3.30 meters true width, step out at Torbrit Main
“In addition to discovery-focused exploration drilling, Dolly Varden Silver has been prioritizing resource expansion and upgrading at the Torbrit/Kitsol, Wolf, Homestake Main and Homestake Silver deposits. We continue to encounter wide, potentially bulk-mineable vein-hosted silver mineralization at Kitsol, and expect to announce significant drill results from the other resource areas in the next few weeks,” said Shawn, Khunkhun, President and CEO.
The 2022 exploration drill program on the Kitsault Valley trend has completed 37,061m in 108 drill holes. Drilling wrapped up in mid-October, with the majority of assays still pending. Additionally, ground geophysics, surface mapping and prospecting work were completed, evaluating historic prospects and identifying new silver and gold occurrences.
Torbrit Main and North Deposits consist of distinctive stratabound silver mineralization associated with a high potassium and coincident sodium depletion alteration signature. Layers consist of red jasper with bladed crystal growths after barite later replaced by silica. Relatively quick capping of the system by volcanic activity caused an overprinting of epithermal brecciation and veining which further augmented the silver grades within the deposit area.
Figure 1. Drill hole DV22-308 from Torbrit Main showing typical red jasperoid stratabound mineralization with epithermal overprint carrying higher silver grades
The main focus of Torbrit step out drilling at the Torbrit Main Deposit targeted the southern limits of the current Mineral Resource. Drill holes were oriented to step-out from, as well as infill areas of modelled inferred resources (see Figure 3). The Torbrit horizon was intersected in all expansion holes; future infill drilling programs will target high grade shoots within the lower grade horizon, which were commonly encountered in historic mining at the Torbrit, Wolf and Dolly Varden deposits.
Figure 2. Location along the Kitsault Valley trend
The Kitsol Vein is considered part of the epithermal, structurally controlled system that over printed the stratabound layers. Mineralization consists of pyrargerite (ruby silver), argentite and native silver in a silica breccia vein system. The northeast/southwest orientation of the vein and nature of the high grade silver plunge is similar to what is developing at the Wolf deposit 1.4km to the north (see figure 2).
Drilling during the 2022 season at Kitsol has encountered wide, high grade silver mineralization, commonly with overprinting high-grade vein shoots within wide vein sets. Previously reported step-out drill hole DV22-283 that intersected 50.18m (~30.0m true width) averaging 414 g/t Ag (see news release August 10, 2022) suggest multiple high-grade, steeply plunging yet wide silver shoots that extend to surface, as demonstrated by up-dip hole DV22-298 which intersected 21.55m (10.78m true width) grading 372 g/t Ag (see Figure 5). Additional results from step-out drill holes testing deeper, down plunge mineralization from DV22-283 at the Kitsol Vein are pending.
Figure 3. Plan map, Torbrit Resource Area with 2019 resource block model. Yellow/orange blocks indicates targeted expansion areas of Inferred and exploration potential respectively.
Figure 4. Geological Cross Section (A-B) of southern Torbrit deposit with 2019 modelled mineralized envelope in red and 2022 drilling with mineralized intercepts as pink lithology
Figure 5. Kitsol vein long section highlighting six 2022 infill and expansion drill holes that define a steep plunge to high-grade silver mineralization. Section view looking Northwest.
Table 1. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).
Hole ID
From
To
Core Length (m)
True Width (m)*
Ag (g/t)
Pb (%)
Zn (%)
Au (ppm)
AgEq** (g/t)
DV22-282 (Kitsol)
175.38
179.05
3.67
2.83
210
0.48
0.11
0.04
232
DV22-284
111.33
112.97
1.64
1.31
50
0.58
6.10
NSV
299
and
114.43
115.51
1.08
0.86
129
0.16
1.45
NSV
189
and
125.32
128.85
3.53
2.82
27
0.11
3.44
0.06
165
DV22-286 (Kitsol)
173.54
174.50
0.96
0.58
141
0.81
0.55
0.15
200
and
177.00
183.95
6.95
4.17
188
0.24
0.16
0.09
209
including
178.80
179.53
0.73
0.44
448
0.15
0.18
0.16
473
including
181.92
182.42
0.50
0.30
564
0.29
0.11
0.39
609
DV22-287
176.00
177.00
1.00
0.90
NSV
NSV
1.69
NSV
64
DV22-289
11.49
12.00
0.51
0.49
979
0.37
0.16
NSV
996
DV22-291 (Kitsol)
120.19
132.70
12.51
8.88
442
0.26
0.31
NSV
462
including
120.19
120.72
0.53
0.38
144
1.21
1.33
0.05
236
including
125.50
127.00
1.50
1.07
1367
0.22
0.17
NSV
1380
DV22-290
19.21
19.94
0.73
0.70
406
0.17
0.13
NSV
416
DV22-292
NSV
DV22-293
88.34
91.80
3.46
3.43
136
0.05
0.02
NSV
138
including
90.77
91.80
1.03
1.02
166
0.08
0.03
NSV
170
DV22-295 (Kitsol)
145.90
152.00
6.10
3.48
145
0.85
0.36
NSV
185
including
147.40
151.00
3.60
2.05
166
0.23
0.33
NSV
186
and
240.50
241.00
0.50
0.29
230
0.02
0.01
0.01
232
DV22-298 (Kitsol)
25.45
47.00
21.55
10.78
372
0.68
0.42
NSV
409
including
27.79
34.56
6.77
3.39
785
1.59
0.64
NSV
858
including
27.25
28.85
1.60
0.80
517
5.48
2.40
NSV
777
including
29.50
30.50
1.00
0.50
1054
0.50
0.21
NSV
1077
*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths **AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn
Table 1 con’t. Drill hole assays for Torbrit Deposit Area (including Kitsol Vein zone as noted).
Hole ID
From
To
Core Length (m)
True Width (m)*
Ag (g/t)
Pb (%)
Zn (%)
Au (ppm)
AgEq** (g/t)
DV22-296
81.00
82.25
1.25
0.89
119
1.15
0.27
NSV
165
and
85.05
88.50
3.45
2.45
130
1.31
0.41
NSV
186
and
90.00
91.00
1.00
0.71
98
1.28
0.35
NSV
151
and
108.40
115.60
7.20
5.11
60
1.44
0.67
NSV
130
and
124.25
125.40
1.15
0.82
274
0.05
0.43
NSV
292
DV22-297
NSV
DV22-299
19.45
23.00
3.55
3.12
166
0.03
0.06
NSV
169
and
30.50
31.00
0.50
0.44
517
3.16
0.09
NSV
618
and
52.35
52.83
0.48
0.42
267
2.29
0.07
NSV
341
and
74.73
75.48
0.75
0.66
242
0.26
0.10
NSV
254
and
107.12
112.00
4.88
4.29
168
0.15
0.50
NSV
192
and
122.87
123.53
0.66
0.58
199
0.25
0.19
NSV
214
DV22-301
127.50
129.00
1.50
0.66
370
0.55
0.15
NSV
393
and
163.30
164.16
0.86
0.38
153
0.26
0.20
0.01
168
including
173.16
173.95
0.79
0.35
235
0.22
0.16
NSV
248
DV22-303
150.91
154.85
3.94
3.43
325
0.42
0.06
0.30
340
DV22-305
157.00
159.26
2.26
2.21
168
0.21
0.05
NSV
176
and
170.05
170.55
0.50
0.49
283
0.05
0.02
NSV
285
DV22-306
114.00
117.41
3.41
3.41
132
0.40
0.64
0.01
170
and
119.00
123.50
4.50
4.50
166
0.12
0.56
0.02
193
and
148.00
151.44
3.44
3.44
191
0.06
0.03
0.01
194
and
155.00
159.00
4.00
4.00
145
0.18
0.09
0.01
155
DV22-308
146.18
154.52
8.34
6.59
297
1.25
0.47
NSV
354
including
149.75
152.28
2.53
2.00
773
1.29
0.68
NSV
839
DV22-309
126.62
128.58
1.96
1.84
193
0.48
0.03
0.01
210
DV22-310
NSV
DV22-312
60.00
63.30
3.30
3.30
585
0.02
0.06
NSV
588
including
60.00
61.13
1.13
1.13
1050
0.02
0.06
NSV
1053
and
105.25
108.62
3.37
3.37
159
0.13
0.04
NSV
165
DV22-313
80.00
81.10
1.10
1.10
158
0.01
0.30
NSV
169
and
105.00
106.67
1.67
1.67
160
0.30
0.09
NSV
173
*Calculated true widths vary depending intersection angles and range from 50% to 100% of intersection lengths **AgEq is calculated using $US1650/oz Au, $US20/oz Ag, $US0.90/lb Pb and $US1.10/lb Zn
Table 2. Drill hole locations.
Hole ID
Zone
Easting UTM83 (m)
Northing UTM83 (m)
Elev. (m)
Azimuth
Dip
Length (m)
DV22282
Kitsol
467543
6172134
404
118
-45
214.00
DV22286
Kitsol
467543
6172134
404
90
-58
438.00
DV22284
Torbrit
467833
6171639
349
28
-59
472.35
DV22287
Torbrit
467833
6171639
349
28
-88
215.00
DV22289
Torbrit
468026
6171334
352
50
-68
90.00
DV22290
Torbrit
468026
6171334
352
50
-69
165.00
DV22291
Kitsol
467571
6172168
394
100
-50
300.00
DV22295
Kitsol
467571
6172168
394
100
-60
339.00
DV22292
Torbrit
468040
6171287
358
55
-45
129.00
DV22293
Torbrit
468405
6171309
649
70
-50
137.00
DV22296
Torbrit
468405
6171309
649
45
-65
150.00
DV22297
Torbrit
468405
6171309
649
45
-80
201.00
DV22299
Torbrit
468405
6171309
649
15
-50
183.00
DV22298
Kitsol
467627
6172140
371
115
-65
121.00
DV22301
Torbrit
468330
6171405
643
45
-82
237.00
DV22303
Torbrit
468326
6171329
605
120
-83
216.00
DV22305
Torbrit
468326
6171329
605
200
-80
216.00
DV22306
Torbrit
468221
6171390
549
45
-55
216.00
DV22308
Torbrit
468221
6171390
549
50
-80
219.00
DV22309
Torbrit
468228
6171263
522
35
-60
177.00
DV22310
Torbrit
468228
6171263
522
35
-78
201.00
DV22312
Torbrit
468320
6171216
568
45
-58
150.00
DV22313
Torbrit
468320
6171216
568
45
-75
150.00
Quality Assurance and Quality Control
The Company adheres to CIM Best Practices Guidelines for exploration related activities conducted on its property. Quality Assurance and Quality Control (QA/QC) procedures are overseen by the Qualified Person.
Dolly Varden QA/QC protocols are maintained through the insertion of certified reference material (standards), blanks and field duplicates within the sample stream. Drill core is cut in-half with a diamond saw, with one-half placed in sealed bags and shipped to the laboratory and the other half retained on site. Third party laboratory checks on 5% of the samples are carried out as well. Chain of custody is maintained from the drill to the submittal into the laboratory preparation facility.
Analytical testing was performed by ALS Canada Ltd. in North Vancouver, British Columbia. The entire sample is crushed and a 500 gram split is pulverized to minus 200mesh. Multi-element analyses were determined by Inductively-Coupled Plasma Mass Spectrometry (ICP-MS) for 48 elements following a 4-acid digestion process. High grade silver testing was determined by Fire Assay with either an atomic absorption, or a gravimetric finish, depending on grade range. Au is determined by Fire Assay on a 30g split.
Qualified Person
Rob van Egmond, P.Geo. Vice-President Exploration for Dolly Varden Silver, the “Qualified Person” as defined by NI43-101 has reviewed, validated and approved the scientific and technical information contained in this news release and supervises the ongoing exploration program at the Dolly Varden Project.
About Dolly Varden Silver Corporation
Dolly Varden Silver Corporation is a mineral exploration company focused on advancing its 100% held Kitsault Valley Project (which combines the Dolly Varden Project and the Homestake Ridge Project) located in the Golden Triangle of British Columbia, Canada, 25kms by road to tide water. The 163 sq. km. project hosts the high-grade silver and gold resources of Dolly Varden and Homestake Ridge along with the past producing Dolly Varden and Torbrit silver mines. It is considered to be prospective for hosting further precious metal deposits, being on the same structural and stratigraphic belts that host numerous other, on-trend, high-grade deposits, such as Eskay Creek and Brucejack. The Kitsault Valley Project also contains the Big Bulk property which is prospective for porphyry and skarn style copper and gold mineralization, similar to other such deposits in the region (Red Mountain, KSM, Red Chris).
Forward-Looking Statements
This release may contain forward-looking statements or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including, without limitation, statements containing the words “believe”, “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “potential”, and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of Dolly Varden to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. Forward-looking statements or information in this release relates to, among other things, the 2022 drill program at the Kitsault Valley Project, the results of previous field work and programs and the continued operations of the current exploration program, interpretation of the nature of the mineralization at the project and that that the mineralization on the project is similar to Eskay and Brucejack, results of the mineral resource estimate on the project, the potential to grow the project, the potential to expand the mineralization and our beliefs about the unexplored portion of the property.
These forward-looking statements are based on management’s current expectations and beliefs and assume, among other things, the ability of the Company to successfully pursue its current development plans, that future sources of funding will be available to the company, that relevant commodity prices will remain at levels that are economically viable for the Company and that the Company will receive relevant permits in a timely manner in order to enable its operations, but given the uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward-looking statements or information. The Company disclaims any obligation to update, or to publicly announce, any such statements, events or developments except as required by law.
For additional information on risks and uncertainties, see the Company’s most recently filed annual management discussion & analysis (“MD&A“) and management information circular dated January 21, 2022 (the “Circular“), both of which are available on SEDAR at www.sedar.com. The risk factors identified in the MD&A and the Circular are not intended to represent a complete list of factors that could affect the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this news release.
VANCOUVER, BC / ACCESSWIRE / November 4, 2022 / Stillwater Critical Minerals (formerly Group Ten Metals) (TSXV:PGE)(OTCQB:PGEZF)(FSE:5D32) (the “Company” or “SWCM”) announces that the Company has applied for TSX Venture Exchange approval to extend the expiry date on certain warrants that were due to expire November 21, 2022 (the “Warrants”). Per the application, 5,233,824 Warrants that were originally issued as part of a financing completed in November 2019 (see news release dated November 21, 2019) will be extended to a new expiration date of May 21, 2023. Each Warrant entitles the holder to acquire one common share at an exercise price of CDN$ 0.25.
About Stillwater Critical Minerals Corp.
Stillwater Critical Minerals (TSX.V: PGE | OTCQB: PGEZF) is a mineral exploration company focused on its flagship Stillwater West PGE-Ni-Cu-Co + Au project in the iconic and famously productive Stillwater mining district in Montana, USA. With the recent addition of two renowned Bushveld and Platreef geologists to the team, the Company is well positioned to advance the next phase of large-scale critical mineral supply from this world-class American district, building on past production of nickel, copper, and chromium, and the ongoing production of platinum group and other metals by neighboring Sibanye-Stillwater. The Platreef-style nickel and copper sulphide deposits at Stillwater West contain a compelling suite of critical minerals and are open for expansion along trend and at depth, with an updated NI 43-101 mineral resource update now in progress based on a 14-hole expansion drilling campaign.
Stillwater Critical Minerals also holds the high-grade Drayton-Black Lake Gold project adjacent to Treasury Metals’ development-stage Goliath Gold Complex in northwest Ontario. Drayton-Black Lake is currently under an earn-in agreement with an option to joint venture whereby Heritage Mining may earn up to a 90% interest in the project by completing payments and work on the project. The Company also holds the Kluane PGE-Ni-Cu-Co project on trend with Nickel Creek Platinum‘s Wellgreen deposit in Canada‘s Yukon Territory.
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.
A CRITICAL MINERALS EXPLORATION COMPANY Rover Metals (“Rover”) is a publicly traded Canadian junior mining company specialized in North American critical minerals and precious metal development-stage mining projects. Rover’s twelve month forward-looking plan is to advance exploration at our Nevada Claystone Lithium project and at our Northern Canada Zinc-Copper project, located near the city of Yellowknife, NT, Canada. The Indian Mountain Lake Project is the Company’s first district scale land package, representing approximately 30,000 acres of greenstone belt.
Rover Metals also has 100% ownership of several gold mining assets located near to the city of Yellowknife, NT. Rover obtained a public listing for its securities on the TSX Venture Exchange as a Tier II Mining Issuer on June 26, 2018.
Rover Metals trades under the symbol “ROVR” on the TSXV. Rover also obtained a public co-listing of its securities on the OTCQB on January 17, 2019 (OTCQB: ROVMD), and on the Frankfurt Stock Exchange on February 1, 2021 (FRA: 4XO).
The Company is run by an experienced management team and board that are career mining executives. Our management team and board have a proven history financing the development of mining projects, taking them into production, and re-selling them.
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TORONTO, ON / ACCESSWIRE / November 3, 2022 / (CSE:ROO)(OTC PINK:JNCCF)(Frankfurt:5VHA) – RooGold Inc. (“RooGold” or the “Issuer“).
Further to its September 30, 2021 news release, RooGold is pleased to announce, with Australian regulatory clearance obtained, the final closing of the definitive Share Exchange Agreement with Aussie Precious Metals Corp. (“APMC“) in which RooGold has effectively acquired a 100% interest in APMC’s Trilby and Lorne properties (“Properties“) in New South Wales (NSW) Australia. The Issuer issued four million (4,000,000) common shares (the “Purchase Shares“) to the shareholders (“Shareholders“) of APMC in exchange for all of the issued and outstanding shares of APMC with the Properties held in APMC’s wholly owned Australian subsidiary. The Purchase Shares have now been released from escrow subject to voluntary undertakings as to when such Purchase Shares may be traded.
About RooGold Inc. ROOGOLD is a Canadian based junior venture mineral exploration issuer which is uniquely positioned to be a dominant player in New South Wales, Australia, through a growth strategy focused on the consolidation and exploration of high potential, mineralized precious metals properties in this prolific region of Australia. Through its announced acquisitions of Southern Precious Metals Ltd., RooGold Ltd. and Aussie Precious Metals Corp. properties, RooGold commands a portfolio of 13 high-grade potential gold (9) and silver (4) concessions covering 1,380 km2 which have 137 historic mines and prospects.
For further information please contact: Ryan Bilodeau (416) 910-1440 info@roogoldinc.com
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur.
Although the Issuer believes that the expectations reflected in applicable forward-looking statements are reasonable, therecan be no assurance that such expectations will prove to be correct. Such forward-looking statements are subjectto risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in such statements.
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Completion of the second dike crossing, allowing access to the higher-grade EN Zone
YERINGTON, Nev., Nov. 03, 2022 (GLOBE NEWSWIRE) — Nevada Copper (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or the “Company”) is pleased to provide an update on restart and operational activities for its underground mine (the “Underground Mine”) following the closing of the restart financing package that provides up to US$123 million of liquidity to the Company, as announced in the Company’s October 28, 2022 press release.
Additionally, the Company announces the addition to its Board of Directors of Guillaume de Dardel, Head of Energy Transition Metals and part of the Energy Transition desk at Mercuria Energy Trading SA (“Mercuria”), one of Nevada Copper’s largest shareholders.
Operational Updates
Optimized Mine Plan – John Wood Group plc, has completed an optimized life-of-mine plan that focuses on accessing the larger, higher-grade stopes of the East North Zone (“EN Zone”) to bring value forward in the mine life. This optimized plan is being incorporated into our development and mine planning in preparation for restart of mining operations.
Final Dike Crossings – As indicated in the Company’s October 5, 2022 press release, the Company continues to build on the significant progress made to date with the completion of the second dike crossing. This critical achievement provides access to the higher-grade stopes of the EN Zone that is estimated to represent the highest value area of the underground reserve. This zone also represents the most competent geotechnical rock mass within the reserve which is expected to allow larger stopes to be extracted, significantly improving production efficiencies. The Company is encouraged by the rock quality being encountered beyond the dike as progress is made on development headings into the EN Zone, and appears to be as predicted by the geotechnical models. To date, nine of the first stopes to be mined have been drilled to provide critical data for final stope design in preparation for the commencement of mining in the second half of 2023.
Completion of the second dike crossing, allowing access to the higher-grade EN Zone
The underground crews have transitioned to work on the final dike crossing which is expected to be completed in early 2023. A well-known industry grouting and geotechnical consultant has been engaged in developing the final dike crossing design and plan. The completion of the dike crossing will provide necessary access for a development contractor to begin rapid development into the EN Zone in early 2023.
Development Contractor – The Company has received indications of interest in providing proposals for development mining from six large, well-known, and established mining contractors. Discussions are in the advanced stages with these contractors and the Company expects to award a contract by the end of 2022.
Capital Projects Proceeding – The Company has signed a letter of intent (“LOI”) with an engineering firm to bring critical capital projects to completion, including the coarse ore bin, permanent dewatering system, vent shaft rehabilitation and surface fans. The scope of the LOI includes delivery of construction execution plans within the next 30 days. These execution plans would identify any procurement or fabrication of materials and equipment to complete the construction activities, labor requirements, and necessary activities ancillary to these capital projects.
The Company has also secured the remaining long-lead item for the coarse ore bin project, the underground jaw crusher, which is expected to be delivered in November 2022.
Strengthening the Site Technical Leadership – The operations leadership has been strengthened with the recent additions of highly experienced individuals in critical technical and operational roles. Included in these recent additions are an Underground Mine Manager, a Capital Projects Manager, a Senior Paste Backfill Engineer, a Contracts Manager, and a Senior Geotechnical Engineer. The Company has also started to fill out the underground operations crews with several skilled mining and operations crews that will focus on capital development projects ahead of stope mining that is planned to begin in the second half of 2023.
Board Addition
Guillaume de Dardel, Head of Energy Transition Metals and part of the Energy Transition desk at Mercuria, will join the Board of Directors of the Company effective November 4, 2022. Mercuria is a significant shareholder in Nevada Copper. Mr. de Dardel studied in Sao Paulo and Switzerland and holds a BA HSG (magna cum laude) from the University of St. Gallen.
Mercuria is one of the world’s largest independent global energy and commodities groups and makes strategic investments to provide access to key infrastructure and physical commodity markets. They have expanded rapidly into renewables and the energy transition which has become a core pillar of Mercuria’s strategy.
Qualified Person
The technical information and data in this news release has been reviewed by Steven Newman, Registered Member – SME, Vice President, Technical Services for Nevada Copper, who is a non-independent Qualified Person within the meaning of NI 43-101.
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 the development plans for the Underground Mine and the expected results thereof.
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 creditors and 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.
Vancouver, British Columbia–(Newsfile Corp. – November 2, 2022) – Goldshore Resources Inc. (TSXV: GSHR) (OTCQB: GSHRF) (FSE: 8X00) (“Goldshore” or the “Company“), is pleased to announce assay results from its ongoing 100,000-meter drill program at the Moss Lake Project in Northwest Ontario, Canada (the “Moss Lake Gold Project“).
Highlights:
Results for eight holes, drilled to both expand and infill historic but poorly surveyed drill sections in the Main Zone, have confirmed higher-grade gold mineralization within a large volume of well mineralized diorite with best intercepts of:
Results for four holes, drilled to evaluate the under-drilled Southwest Zone, have confirmed narrow higher-grade gold mineralized structures with best intercepts of:
President and CEO Brett Richards stated: “Throughout our entire drilling campaign from 2021 to now, we have consistently and repeatedly delivered promising drill results, indicating not only the size and scale potential of the Moss Lake Project, but also the quality of the higher-grade areas of the deposit. As we illustrated at the end of H1 2022, our focus turned from identifying and drilling the size of the global resource; to identifying the high(er) grade sections contained within the historical resource (and stepped out from the historical resource), and focusing on building a much smaller open pit project PEA around this. The results from this change in focus are evident in press releases in H1 2022 and Q3 2022, and continue with the results highlighted today. To that end, we are expediting our independent mineral resource estimate (“MRE“) on the high(er) grade sections within the historical resource, and look to have the results of this MRE presented to the market by the end of 2022, versus the end of Q1 2023, as previously guided. This will also lead to the Company accelerating a preliminary economic assessment (“PEA“) on a smaller, high(er) grade resource, but much more manageable project in terms of CapEx and project timeline, versus a large-scale project PEA on an updated larger resource similar to the historic resource. The target delivery to the market of the economic results of the PEA is slated for the end of Q1 2023, under current market conditions and circumstances, versus the end of Q2 2023, as previously guided.”
Technical Overview
Figure 1 shows the better intercepts in plain view and Figure 2 is a typical section through hole MMD-22-057.
Figure 1: Drill plan showing best of several +1 g/t Au intercepts relative to implicit modelled grade shells
Over the last month, results have been received for eighteen holes, including:
Eight holes that have infilled areas of the Main Zone that are between sections drilled by historic holes with collar survey problems. They will replace the low-confidence historic holes in the upcoming resource model update.
Four holes drilled to evaluate the under-drilled Southwest Zone.
Five holes testing the margins of the main +1 g/t Au zones that provide valuable geological information in these marginal areas.
As with the historic holes, the Main and Southwest Zone holes intersected several broad zones of low-grade mineralization within the altered diorite intrusion host. Examples include 0.98 g/t Au over 50.9m from 51m and 0.32 g/t Au over 122m from 473m depth in MMD-22-036; 0.48 g/t Au over 88m from 388m and 0.53 g/t Au over 33m from 279m depth in MMD-22-042; 0.46 g/t Au over 133m from 443m depth and 0.35 g/t Au over 29.25m from 316.85m depth in MMD-22-048; 0.70 g/t Au over 126m from 335m depth and 0.89 g/t Au over 60.6m from 120.4m depth in MMD-22-053; 0.80 g/t Au over 25.35m from 563.65m depth in MMD-22-055; 0.64 g/t Au over 44m from 168m depth and 0.63 g/t Au over 33.65m from 237.35m depth in MMD-22-064; 0.47 g/t Au over 38.1m from 615.45m depth in MMD-22-066; and 0.46 g/t Au over 27.65m from 366.25m depth in MMD-22-078.
All these low-grade zones occur as envelopes to higher-grade structures that form a three-dimensional, anastomosing shear network that has developed in response to strain on the altered diorite intrusion. Results include the broad zones of +1 g/t Au mineralization shown in the highlights (e.g., 1.34 g/t Au over 90.95m from 254.05m depth in MMD-22-057) and several narrow high-grade intervals, including better intercepts of 39.3 g/t Au over 0.7m from 90.45m depth in MMD-22-036; 47.4 g/t Au over 0.5m from 420.25m depth in MMD-22-052; 11.4 g/t Au over 2.35m from 549m depth in MMD-22-056; 26.7 g/t Au over 1m from 287m depth in MMD-22-057; and 231 g/t Au over 0.35m from 182.75m depth in MMD-22-064.
Four holes were drilled into the Link zone and potential overlap between the QES zone and Moss Main zone to properly define the boundaries of each zone and to better understand the behavior of the southern edge of the altered diorite package. These dominantly drilled through the lesser altered and deformed porphyritic diorite phase containing several narrow lenses of low-grade mineralization as indicated by the historic drill results.
Geological modelling of the altered diorite host rock and anastomosing shear network at Moss Lake has progressed faster than anticipated and is now complete. As a result, the Company has embarked on an independent resource modelling exercise and has engaged international consulting group, CSA Global (an ERM group company) to complete this work. This will lead to a new Mineral Resource estimate that will be reported following National Instrument 43-101 standards for disclosure. This new estimate will be published before the end of 2022.
Pete Flindell, VP Exploration for Goldshore, said, “These drill results continue the vein of local high grade gold mineralization that bulks out to produce 50- to 200-meter-wide zones of +1 g/t Au gold mineralization within a “sea” of low-grade mineralization. This style of mineralization is capable of producing large, low-grade gold resources with a significant volume of higher-grade mineralization. We anticipate that this should, with the selection of the appropriate gold price for the constraining Whittle shell, allow the reporting of a smaller, higher-grade resource at the Moss Lake Project.”
Table 1 shows the significant intercepts and Table 2 shows the drill hole locations.
Table 1: Significant downhole gold intercepts
ZONE
HOLE ID
FROM
TO
LENGTH (m)
TRUE WIDTH (m)
CUT GRADE (g/t Au)
UNCUT GRADE (g/t Au)
MAIN
MMD-22-036
22.00
35.80
13.80
4.4
0.62
0.62
51.00
101.90
50.90
16.6
0.98
1.11
including
62.50
67.35
4.85
1.6
1.39
1.39
and
84.50
94.00
9.50
3.1
3.70
4.38
238.50
256.30
17.80
6.1
0.47
0.47
276.40
286.20
9.80
3.4
0.46
0.46
including
279.00
281.85
2.85
1.0
1.01
1.01
419.10
446.50
27.40
10.0
0.36
0.36
including
420.00
422.00
2.00
0.7
1.84
1.84
473.00
595.00
122.00
47.4
0.32
0.32
613.45
619.95
6.50
2.6
0.36
0.36
631.00
634.75
3.75
1.5
0.47
0.47
671.45
686.00
14.55
5.8
0.35
0.35
MAIN
MMD-22-048
190.00
192.40
2.40
1.5
0.78
0.78
220.00
227.00
7.00
4.3
0.54
0.54
277.60
285.00
7.40
4.5
0.34
0.34
316.85
346.10
29.25
18.0
0.35
0.35
373.55
400.00
26.45
16.3
1.05
1.05
including
388.00
399.15
11.15
6.9
1.60
1.60
443.00
576.00
133.00
84.2
0.46
0.46
including
446.00
458.20
12.20
7.6
1.08
1.08
and
467.90
472.00
4.10
2.6
1.37
1.37
and
521.00
538.35
17.35
11.1
1.03
1.03
602.00
614.00
12.00
7.8
0.31
0.31
620.00
635.40
15.40
10.0
0.56
0.56
MAIN
MMD-22-052
104.35
111.00
6.65
3.4
0.46
0.46
138.00
140.00
2.00
1.1
0.31
0.31
274.25
277.30
3.05
1.7
0.44
0.44
311.15
313.35
2.20
1.3
0.35
0.35
MAIN
MMD-22-053
18.00
27.00
9.00
4.9
0.39
0.39
33.00
38.00
5.00
2.7
0.42
0.42
49.35
66.30
16.95
9.1
0.37
0.37
77.00
81.45
4.45
2.4
1.58
1.58
including
77.75
81.45
3.70
2.0
1.81
1.81
92.20
100.20
8.00
4.2
1.63
1.63
including
92.20
98.00
5.80
3.1
2.10
2.10
120.40
181.00
60.60
32.1
0.89
0.89
including
121.00
139.00
18.00
9.5
1.80
1.80
and
158.00
167.00
9.00
4.8
1.72
1.72
201.00
205.00
4.00
2.1
0.53
0.53
222.00
225.00
3.00
1.6
5.24
5.24
248.00
263.00
15.00
7.8
0.38
0.38
285.00
304.00
19.00
9.9
0.35
0.35
310.60
313.00
2.40
1.3
0.35
0.35
335.00
461.00
126.00
65.6
0.70
0.70
including
341.00
344.00
3.00
1.6
1.14
1.14
and
355.60
399.25
43.65
22.7
1.30
1.30
and
444.00
450.00
6.00
3.1
1.63
1.63
487.75
490.00
2.25
1.2
0.57
0.57
MAIN
MMD-22-054
383.00
389.60
6.60
2.1
0.42
0.42
429.40
434.30
4.90
1.6
0.51
0.51
531.05
539.00
7.95
2.6
0.31
0.31
MAIN
MMD-22-055
168.00
182.85
14.85
8.4
0.30
0.30
212.00
215.00
3.00
1.7
0.73
0.73
360.60
374.90
14.30
7.8
1.07
1.07
including
364.00
374.90
10.90
5.9
1.28
1.28
525.40
528.25
2.85
1.6
1.55
1.55
563.65
589.00
25.35
14.2
0.80
0.80
including
581.05
583.80
2.75
1.6
3.08
3.08
600.00
612.10
12.10
6.9
0.36
0.36
MAIN
MMD-22-056
181.00
185.60
4.60
2.1
0.52
0.52
221.00
225.00
4.00
1.8
0.38
0.38
267.00
270.35
3.35
1.5
0.34
0.34
287.85
296.00
8.15
3.7
0.63
0.63
336.35
342.25
5.90
2.6
0.62
0.62
353.70
358.45
4.75
2.1
0.35
0.35
379.40
387.65
8.25
3.6
1.20
1.20
441.00
461.50
20.50
8.9
0.49
0.49
502.00
561.90
59.90
25.5
1.02
1.02
including
509.00
511.00
2.00
0.9
3.16
3.16
and
542.00
551.35
9.35
4.0
4.78
4.78
593.30
598.00
4.70
2.0
0.38
0.38
MAIN
MMD-22-057
18.10
26.25
8.15
2.8
2.66
2.66
40.90
43.10
2.20
0.8
0.46
0.46
254.05
345.00
90.95
34.2
1.34
1.34
including
260.40
272.40
12.00
4.5
2.42
2.42
and
283.55
299.95
16.40
6.2
4.02
4.02
and
312.00
328.75
16.75
6.3
1.04
1.04
366.00
371.25
5.25
2.0
1.11
1.11
382.00
385.00
3.00
1.2
0.70
0.70
457.50
461.00
3.50
1.4
0.36
0.36
552.40
559.00
6.60
2.7
0.36
0.36
570.00
583.00
13.00
5.5
0.34
0.34
594.00
599.00
5.00
2.1
0.34
0.34
SW
MMD-22-042
36.95
41.00
4.05
2.7
0.87
0.87
106.65
110.75
4.10
3.0
0.49
0.49
209.00
212.05
3.05
2.5
0.50
0.50
239.00
241.00
2.00
1.7
0.43
0.43
256.55
266.00
9.45
8.1
0.97
0.97
including
261.95
266.00
4.05
3.5
1.77
1.77
279.00
312.00
33.00
29.0
0.53
0.53
330.00
341.00
11.00
10.0
0.94
0.94
366.00
377.00
11.00
10.2
0.74
0.74
including
370.00
377.00
7.00
6.5
1.08
1.08
388.00
476.00
88.00
84.1
0.48
0.48
including
388.00
396.25
8.25
7.7
2.26
2.26
SW
MMD-22-050
162.00
168.35
6.35
5.0
0.68
0.68
194.40
207.10
12.70
10.4
0.48
0.48
300.15
312.90
12.75
11.4
0.82
0.82
including
303.00
311.00
8.00
7.1
1.10
1.10
SW
MMD-22-064
28.00
31.85
3.85
2.5
1.42
1.42
42.45
55.10
12.65
8.2
0.92
0.92
168.00
212.00
44.00
29.9
0.64
2.24
including
182.00
185.50
3.50
2.4
3.64
23.70
237.35
271.00
33.65
23.2
0.63
0.63
including
250.25
252.40
2.15
1.5
1.59
1.59
SW
MMD-22-066
451.00
453.25
2.25
1.7
0.58
0.58
559.35
572.00
12.65
9.7
0.31
0.31
586.00
589.00
3.00
2.3
0.39
0.39
599.00
609.55
10.55
8.2
0.36
0.36
615.45
653.55
38.10
30.1
0.47
0.47
including
625.00
627.00
2.00
1.6
1.08
1.08
LINK
MMD-22-074
603.85
607.90
4.05
3.1
0.66
0.66
LINK
MMD-22-078
62.55
67.90
5.35
3.6
0.40
0.40
366.25
393.90
27.65
20.1
0.46
0.46
422.55
425.50
2.95
2.2
0.31
0.31
447.80
455.40
7.60
5.7
0.64
0.64
including
452.20
455.40
3.20
2.4
1.08
1.08
492.25
498.40
6.15
4.6
0.31
0.31
LINK
MMD-22-081
83.00
91.00
8.00
5.6
0.45
0.45
253.20
257.65
4.45
3.3
0.64
0.64
286.55
295.00
8.45
6.3
0.51
0.51
335.00
353.95
18.95
14.4
0.30
0.30
LINK
MMD-22-082
122.00
131.00
9.00
6.5
0.74
0.74
including
122.00
124.00
2.00
1.5
1.22
1.22
147.00
149.00
2.00
1.5
0.51
0.51
167.00
178.00
11.00
8.2
0.90
0.90
including
172.00
175.00
3.00
2.2
1.34
1.34
Intersections calculated above a 0.3 g/t Au cut off with a top cut of 30 g/t Au and a maximum internal waste interval of 10 metres. Bordered intervals are intersections calculated above a 1.0 g/t Au cut off. Intervals in bold are those with a grade thickness factor exceeding 20 gram x metres / tonne gold. True widths are approximate and assume a subvertical body.
Table 2: Location of drill holes in this press release
ZONE
HOLE
EAST
NORTH
RL
AZIMUTH
DIP
EOH
MAIN
MMD-22-036
668,868
5,379,279
441
154°
-71°
690.00
SW
MMD-22-042
668,520
5,378,529
436
158°
-50°
516.00
MAIN
MMD-22-048
668,705
5,379,209
435
155°
-52°
690.00
SW
MMD-22-050
668,517
5,378,529
437
110°
-50°
464.00
MAIN
MMD-22-052
668,994
5,379,542
438
155°
-60°
597.30
MAIN
MMD-22-053
669,014
5,379,307
427
154°
-61°
605.85
MAIN
MMD-22-054
668,705
5,379,209
435
150°
-70°
576.00
MAIN
MMD-22-055
668,721
5,379,279
443
154°
-59°
618.00
MAIN
MMD-22-056
668,801
5,379,340
438
151°
-61°
600.00
MAIN
MMD-22-057
668,887
5,379,368
437
154°
-70°
603.00
SW
MMD-22-064
668,481
5,378,460
439
109°
-51°
407.15
SW
MMD-22-066
669,077
5,378,242
432
290°
-50°
654.30
LINK
MMD-22-074
669,241
5,378,339
430
335°
-51°
660.85
LINK
MMD-22-077
669,659
5,379,054
432
335°
-60°
12.00
LINK
MMD-22-078
669,659
5,379,055
432
337°
-50°
603.00
LINK
MMD-22-079
669,573
5,379,011
437
336°
-50°
333.00
LINK
MMD-22-081
669,469
5,378,982
428
334°
-48°
375.00
LINK
MMD-22-082
669,248
5,378,768
437
335°
-46°
347.85
Analytical and QA/QC Procedures
All samples were sent to ALS Geochemistry in Thunder Bay for preparation and analysis was performed in the ALS Vancouver analytical facility. ALS is accredited by the Standards Council of Canada (SCC) for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025. Samples were analyzed for gold via fire assay with an AA finish (“Au-AA23”) and 48 pathfinder elements via ICP-MS after four-acid digestion (“ME-MS61”). Samples that assayed over 10 ppm Au were re-run via fire assay with a gravimetric finish (“Au-GRA21”).
In addition to ALS quality assurance / quality control (“QA/QC”) protocols, Goldshore has implemented a quality control program for all samples collected through the drilling program. The quality control program was designed by a qualified and independent third party, with a focus on the quality of analytical results for gold. Analytical results are received, imported to our secure on-line database and evaluated to meet our established guidelines to ensure that all sample batches pass industry best practice for analytical quality control. Certified reference materials are considered acceptable if values returned are within three standard deviations of the certified value reported by the manufacture of the material. In addition to the certified reference material, certified blank material is included in the sample stream to monitor contamination during sample preparation. Blank material results are assessed based on the returned gold result being less than ten times the quoted lower detection limit of the analytical method. The results of the on-going analytical quality control program are evaluated and reported to Goldshore by Orix Geoscience Inc.
About Goldshore
Goldshore is an emerging junior gold development company, and owns the Moss Lake Gold Project located in Ontario. Wesdome 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.
About the Moss Lake Gold Project
The Moss Lake Gold Project is located approximately 100 km west of the city of Thunder Bay, Ontario. It is accessed via Highway 11 which passes within 1 km of the property boundary to the north. The Moss Lake Gold Project covers 14,292 hectares and consists of 282 unpatented and patented mining claims.
The Moss Lake Gold Project hosts a number of gold and base metal rich deposits including the Moss Lake Deposit, the East Coldstream Deposit (Table 3), the historically producing North Coldstream Mine (Table 4), and the Hamlin Zone, all of which occur over a mineralized trend exceeding 20 km in length. A historical preliminary economic assessment (the “Moss Lake Historical Estimate“) was completed on the Moss Lake Gold Project in 2013 and published by Moss Lake Gold Mines Ltd. (“Moss Lake Gold Mines“)1,3. A historical mineral resource estimate (the “East Coldstream Historical Estimate“) was completed on the East Coldstream Deposit in 2011 by Foundation Resources Inc.2,3 In addition to these zones, the Moss Lake Gold Project also hosts a number of under-explored mineral occurrences which are reported to exist both at surface and in historically drilled holes. The Moss Lake Deposit is a shear-hosted disseminated-style gold deposit which outcrops at surface. It has been drilled over a 2.5 km length and to depths of 300 m with 376 holes completed between 1983 and 2017. The last drilling program conducted in 2016 and 2017 by Wesdome Gold Mines Ltd. (“Wesdome“), which consisted of widely spaced holes along the strike extension of the deposit was successful in expanding the mineralized footprint and hydrothermal system 1.6 km to the northeast. Additionally, the deposit remains largely open to depth. In 2017, Wesdome completed an induced polarization survey which traced the potential extensions of pyrite mineralization associated with the Moss Lake Deposit over a total strike length of 8 km and spanning the entire extent of the survey grids.
The East Coldstream Deposit is a shear-hosted disseminated-style gold deposit which locally outcrops at surface. It has been drilled over a 1.3 km length and to depths of 200 m with 138 holes completed between 1988 and 2017. The deposit remains largely open at depth and may have the potential for expansion along strike. Historic drill hole highlights from the East Coldstream Deposit include 4.86 g/t Au over 27.3 m in C-10-15.
The historically producing North Coldstream Mine is reported to have produced significant amounts of copper, gold and silver4 from mineralization with potential iron-oxide-copper-gold deposit style affinity. The exploration potential immediately surrounding the historic mining area is not currently well understood and historic data compilation is required.
The Hamlin Zone is a significant occurrence of copper and gold mineralization, and also of potential iron-oxide-copper-gold deposit style affinity. Between 2008 and 2011, Glencore tested Hamlin with 24 drill holes which successfully outlined a broad and intermittently mineralized zone over a strike length of 900 m. Historic drill hole highlights from the Hamlin Zone include 0.9 g/t Au and 0.35% Cu over 150.7 m in HAM-11-75.
The Moss Lake, East Coldstream and North Coldstream deposits sit on a mineral trend marked by a regionally significant deformation zone locally referred to as the Wawiag Fault Zone in the area of the Moss Lake Deposit. This deformation zone occurs over a length of approximately 20 km on the Moss Lake Gold Project and there is an area spanning approximately 7 km between the Moss Lake and East Coldstream deposits that is significantly underexplored.
Table 3: Historical Mineral Resources1,2,3
INDICATED
INFERRED
Deposit
Tonnes
Au g/t
Au oz
Tonnes
Au g/t
Au oz
Moss Lake Historical Estimate
Open Pit Potential
39,795,000
1.1
1,377,300
48,904,000
1.0
1,616,300
Underground Potential
–
–
–
1,461,100
2.9
135,400
Moss Lake Total
39,795,000
1.1
1,377,300
50,364,000
1.1
1,751,600
East Coldstream Historical Estimate
East Coldstream Total
3,516,700
0.85
96,400
30,533,000
0.78
763,276
Combined Total
43,311,700
1.08
1,473,700
80,897,000
0.98
2,514,876
Notes:
(1) Source: Poirier, S., Patrick, G.A., Richard, P.L., and Palich, J. “Technical Report and Preliminary Economic Assessment for the Moss Lake Project”, prepared for Moss Lake Gold Mines Ltd. The qualified persons for the Moss Lake Historical Estimate are Pierre-Luc Richard, MSc, PGeo (InnovExplo Inc), and Carl Pelletier, BSc, PGeo (InnovExplo Inc), and the effective date of the Moss Lake Historical Estimate is February 8, 2013. In-Pit results are presented undiluted and in situ, within Whittle-optimized pit shells. Underground results are presented undiluted and in situ, outside Whittle-optimized pit shells. The Moss Lake Historical Estimate includes 18 gold-bearing zones and 1 envelope containing isolated gold intercepts. Whittle parameters: mining cost = C$2.28; pit slope angle = 50.0 degrees; production cost = C$9.55; mining Dilution = 5%; mining recovery = 95%; processing recovery = 80% to 85%; gold price = C$1,500. In-Pit and Underground resources were compiled at cut-off grades from 0.3 to 5.0 g/t Au (for sensitivity characterization). A cut-off grade of 0.5 g/t Au was selected as the official in-pit cut-off grade and a cut-off grade of 2.0 g/t Au was selected as the official underground cut-off grade. The Moss Lake Historical Estimate is based on 352 diamond drill holes (90,978 m) drilled from 1983 and 2008. A fixed density of 2.78 g/cm3 was used. A minimum true thickness of 5.0 m was applied, using the grade of the adjacent material when assayed or a value of zero when not assayed. Capping was established at 35 g/t Au, supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Gems version 6.4. Based on geostatistics, the ellipse range for interpolation was 75m x 67.5m x 40m. The Indicated category is defined by combining the blocks within the two main zones and various statistical criteria, such as average distance to composites, distance to closest composite, quantity of drill holes within the search area. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
(2) Source: McCracken, T. “Technical Report and Resource Estimate on the Osmani Gold Deposit, Coldstream Property, Northwestern Ontario”, prepared for Foundation Resources Inc. and Alto Ventures Ltd. The East Coldstream Historical Estimate is based on a 0.4 g/t Au cut-off grade. The qualified persons for the East Coldstream Historical Estimate are Todd McCracken, P.Geo. (Tetratech Wardrop), and Jeff Wilson, Ph.D., P.Geo. (Tetratech Wardrop), and the effective date of the East Coldstream Historical Estimate is December 12, 2011. Resources are presented unconstrained, undiluted and in situ. The East Coldstream Historical Estimate includes 2 gold-bearing zones. A cut-off grade of 0.4 g/t Au was selected as the official resource cut-off grade. The East Coldstream Historical Estimate is based on 116 diamond drill holes drilled from 1986 to 2011. A fixed density of 2.78 g/cm3 was used. Capping was established at 5.89 g/t Au and 5.70 g/t Au for domains EC-1 and EC-2, respectively. This is supported by statistical analysis and the high grade distribution within the deposit. Compositing was done on drill hole sections falling within the mineralized zone solids (composite = 1 m). Resources were evaluated from drill hole samples using the ID2 interpolation method in a multi-folder percent block model using Datamine Studio 3 version 3.20.5321.0. Resource categorization is based on spatial continuity based from the variography of the assays within the drillholes. Ounce (troy) = metric tons x grade / 31.10348. Calculations used metric units (metres, tonnes and g/t). The number of metric tonnes was rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects; rounding followed the recommendations in NI 43-101.
(3) The reader is cautioned that the Moss Lake Historical Estimate East and the East Coldstream Historical Estimate (the “Historical Estimates“) are considered historical in nature and as such is based on prior data and reports prepared by previous property owners. The reader is cautioned not to treat them, or any part of them, as current mineral resources or reserves. The Company has determined these historical resources are reliable, and relevant to be included here in that they demonstrate simply the mineral potential of the Moss Lake Gold Project. A qualified person has not done sufficient work to classify the Historical Estimates as current resources and Goldshore is not treating the Historical Estimates as current resources. Significant data compilation, re-drilling, re-sampling and data verification may be required by a qualified person before the Historical Estimates can be classified as a current resource. There can be no assurance that any of the historical mineral resources, in whole or in part, will ever become economically viable. In addition, mineral resources are not mineral reserves and do not have demonstrated economic viability. Even if classified as a current resource, there is no certainty as to whether further exploration will result in any inferred mineral resources being upgraded to an indicated or measured mineral resource category. The Historical Estimates relating to inferred mineral resources were calculated using prior mining industry standard definitions and practices for estimating mineral resource and mineral reserves. Such prior definitions and practices were utilized prior to the implementation of the current standards of the Canadian Institute of Mining for mineral resource estimation, and have a lower level of confidence.
Table 4: Reported Historical Production from the North Coldstream Deposit4
Deposit
Tonnes
Cu %
Au g/t
Ag
Cu lbs
Au oz
Ag oz
Historical Production
2,700,0000
1.89
0.56
5.59
102,000,000
44,000
440,000
Note:
(4) Source: Schlanka, R., 1969. Copper, Nickel, Lead and Zinc Deposits of Ontario, Mineral Resources Circular No. 12, Ontario Geological Survey, pp. 314-316.
Peter Flindell, P.Geo., MAusIMM, MAIG, Vice President – Exploration of the Company, a qualified person under NI 43-101 has approved the scientific and technical information contained in this news release.
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.
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 Moss Lake Gold Project, release of the MRE, release of a PEA, 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; and the impact of COVID-19.
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.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any 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.
Vancouver, British Columbia–(Newsfile Corp. – November 1, 2022) – Riverside Resources Inc. (TSXV: RRI) (OTCQB: RVSDF) (FSE: 5YY) (“Riverside” or the “Company”) is sad to report the passing of its longest serving director, Brian Groves, who passed due to natural causes on Monday Oct 24, 2022. Brian had become the first additional director to the company on Oct 1, 2007, immediately after the Company listed on the TSX-V on August 28, 2007. Brian’s leadership added immediate experience, commitment, and sage guidance to the Riverside team and throughout the Company’s growth over the past 15 years. While remaining a strong voice of reason and value for all stakeholders, Brian’s help with First Nations and mentoring were among his key traits. His knowledge of geology, geophysics and the mineral exploration business helped guide the company on multiple occasions.
Riverside’s President and CEO, John-Mark Staude, commented: “While being a great director, Brian was a constant supporter of Riverside and a friend. He was integral in helping us on many occasions with finding more balance and perspective in the initiatives we took on. To that effect, he also had a continued focus on family and still regularly kept up with our industry. Brian will be dearly missed!”
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward-looking terminology (e.g., “expect”,” estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
